In his new groundbreaking book, Kumar Vijayendra outlines the importance of sustainability for the small business sector and realistic steps for progress
Small businesses play a crucial role in the economy and the world, employing nearly 50% of the workforce and contributing to almost half of a country’s GDP. Despite their significant influence, they have not been as active in a cause that many large businesses prioritize – sustainability. Kumar Vijayendra understands why small businesses struggle to involve themselves in sustainability and aim to help with his new book, The Sustainable Entrepreneur.
Kumar Vijayendra is a renowned thought leader in Small Business Transformation, holding over 17 years of experience in leading operations and managing the transformation of small businesses. “Working with small businesses, a couple of things stand out,” he mentions. “First, small businesses, due to their size and resource pool, usually view sustainability as an arduous and expensive task. While it might cost money, time, and energy, especially to take the first few steps towards sustainability, it is an investment towards your future survival and success.” Simply put, even though it can seem like a daunting endeavor, sustainability can significantly improve a small business’s bottom line.
The author states that there are many reasons small businesses should incorporate sustainable practices and what the benefits are of doing so. He offers a 5-factor cyclical model to explain the reasons to embrace sustainability – Customer Base, Competition, Business Valuation, Partnerships, and Government Incentives.
“Gen Z has entered the marketplace in a big way, and their consumer values are highly geared towards the environment, business ethics, and transparency,” he says. And as consumer values change, small businesses should look at Competition, another of the variables provided in the cycle. “If a small business’s competition keeps up with changing consumer values faster, it could mean a loss of customer support for the small business,” Vijayendra mentions. Likewise, if a business Partners with a business that is not sustainable, it might also impact brand image and reputation among buyers.
The Sustainable Entrepreneur is Vijayendra’s way of explaining this to the world in hopes that small businesses see the value of incorporating sustainable strategies. “Once small businesses understand that their investment is worthwhile, that it will positively impact their bottom line, they can get involved with more peace of mind and commitment,” he claims.
Vijayendra offers business owners and readers a practical roadmap and framework to help them get started. Another barrier small businesses face is not knowing how to begin when embarking on a journey toward sustainable practices. To that, Kumar refers to the four Ps framework as a principal guideline in business decision-making – People, Planet, Purpose, and Profit.
The Four P’s should all be considered when businesses are making any strategic decisions. Whether it’s an expansion, a new product, or even small things like hiring a new intern, steps forward should be taken with a mindset that considers the impact on all people, planet, purpose, and profit.
The Sustainable Entrepreneur doesn’t just speak to business owners, it encourages everyone. Businesses can incorporate sustainable strategies into their operations, but individuals can make efforts to find and support sustainable businesses, educate themselves, and even inspire their employers with the movement.
To learn more about Kumar Vijayendra, please visit: https://iamkumarv.com/
About Kumar Vijayendra
Kumar Vijayendra is a renowned thought leader in Small Business Transformation, with over 17 years of experience transforming operations globally. Kumar has published articles in leading trade journals like CEO World and All Business and is a frequent speaker at conferences. An esteemed member of the Forbes Business Council and Beta Gamma Sigma Honor Society, Vijayendra serves as President at Footsteps LLC and is on the Board of Directors for the Hollister Downtown Business Association and Community Food Bank of San Benito County. Vijayendra holds an MBA with sustainability and operations focus from the University of Pittsburgh. Vijayendra is pleased to release his first book, The Sustainable Entrepreneur, which works to help small business owners incorporate sustainability into their core strategy.
