Starting a business is exciting, but keeping it running for the long haul is the real challenge. JOSEPHINE OGUNDEJI writes
Many businesses start strong but struggle to survive after a few years because they focus only on quick profits rather than building a solid foundation.
A sustainable business isn’t just about making money today; it’s about creating something that can grow, adapt, and remain successful for years to come.
One of the first steps to building a lasting business is having a clear vision and mission. Why does your business exist beyond making a profit? Companies that solve real problems and stay true to their purpose tend to attract loyal customers and long-term partners. Whether you’re selling homes, running a tech startup, or launching a local service, having a strong purpose helps guide decisions and keeps the business relevant.
Financial stability is another key factor. Many businesses fail because they don’t manage their money well. It’s important to control costs, reinvest profits wisely, and have multiple revenue streams so the business isn’t dependent on just one source of income. A financially healthy business can survive tough times, expand when opportunities arise, and avoid unnecessary debt that could cause problems later.
People are the heart of any business. Whether it’s employees, customers, or investors, building strong relationships is essential. Treating employees well, offering fair pay, and creating a positive work culture lead to higher productivity and loyalty. Satisfied customers also become repeat buyers and brand ambassadors, helping your business grow through word of mouth.
Technology and innovation can also make a huge difference. Businesses that stay ahead of trends and adapt to new ways of working are more likely to succeed. Whether it’s using digital tools to improve efficiency, adopting sustainable practices, or finding creative ways to reach customers, innovation helps businesses stay competitive in a fast-changing world.
At the end of the day, a sustainable business is one that keeps evolving. Markets change, customer preferences shift, and challenges will always come up, but businesses that plan ahead, stay flexible, and focus on long-term value will not only survive but thrive. The goal isn’t just to build a business that works today, but one that can stand the test of time.
Establish a clear vision and mission: A sustainable business starts with a well-defined vision and mission that emphasise long-term impact rather than short-term profits. Your mission should reflect your commitment to environmental, social, and economic sustainability. This clarity helps guide decision-making and attracts like-minded stakeholders, employees, and investors who support your goals.
Develop a resilient business model: a business model that prioritises adaptability and ensures longevity. Companies should analyse market trends, customer needs, and environmental factors to create a flexible yet robust structure. Integrating multiple revenue streams and investing in innovative solutions help businesses remain competitive even during economic downturns.
Incorporate ethical and sustainable practices: sustainability goes beyond profitability; it requires ethical business practices. Companies should adopt fair labour policies, source materials responsibly, and minimise their carbon footprint. This can be achieved through sustainable sourcing, waste reduction, and energy efficiency strategies, which also enhance brand reputation.
Create strong governance and compliance systems: A well-structured governance system promotes accountability and transparency. Establishing clear policies, ethical guidelines, and compliance frameworks ensures adherence to legal and industry standards. Businesses should also implement periodic audits and independent reviews to maintain integrity and trust.
Emphasise financial sustainability: A sustainable business must maintain financial stability. This requires prudent budgeting, cost control, and smart investment strategies. Businesses should also explore long-term funding options such as equity financing, impact investing, and strategic partnerships to sustain growth without over-reliance on short-term capital.
Invest in human capital: Employees are the backbone of any business. Investing in their training, well-being, and professional growth fosters a motivated workforce. Sustainable businesses prioritise diversity, equity, and inclusion, ensuring fair treatment and equal opportunities for all employees. Happy and skilled employees contribute to long-term business success.
Leverage technology and innovation: adopting modern technology enhances operational efficiency and reduces waste. Businesses should integrate automation, data analytics, and artificial intelligence to streamline processes and make data-driven decisions. Innovations such as green technology and digital solutions can significantly improve sustainability efforts.
Engage with stakeholders and the community: A sustainable business maintains strong relationships with its customers, employees, investors, and local communities. Companies should engage in corporate social responsibility initiatives, ethical marketing, and open communication with stakeholders. Building trust and fostering collaboration create a supportive ecosystem for long-term success.
Monitor and measure sustainability performance: Tracking key sustainability metrics allows businesses to assess their impact and make informed adjustments. Implementing sustainability reports, environmental impact assessments, and social responsibility benchmarks ensures continuous improvement. Businesses that measure and publicly disclose their sustainability efforts often gain a competitive edge.
Plan for long-term growth and adaptation: Sustainability requires forward-thinking strategies that anticipate future challenges. Businesses should incorporate long-term planning, scenario analysis, and risk management to stay ahead of disruptions. A commitment to continuous learning, innovation, and responsible leadership ensures that the business remains resilient for generations.
According to a report by Forbes, scaling a business to the seven-figure mark is no easy feat.
The report noted, “It’s going to feel incredibly stressful and like you can’t get your head above water unless you’ve taken the time to implement systems and technology that increase efficiency, predictability and accountability. Otherwise, you’ll likely find yourself in constant reactive mode and feel like as soon as you put out one fire, another has already started.
“Most small business owners do not see the immediate value in creating systems that will ultimately simplify the process and bring in forecastable results. This is understandable, as it’s an extra layer of work to design and put your systems in place. To make the process less overwhelming, I suggest looking for a mentor or business coach who has already helped similar businesses to yours and can provide valuable and time-saving advice and structure.
“Industry leaders like Jim Rohn, Dan Sullivan and John Malott have all used system-based business approaches to generate millions of dollars in revenue every year and now teach their systems to other entrepreneurs. I attribute my ability to grow and scale businesses to utilising systems like Dan Sullivan’s Strategic Coach back when I was in finance. It was through the development and adherence to this approach that I was able to identify areas that were negatively impacting my business (and quality of life) and be able to get hyper-focused on growing my revenue.”
Forbes highlighted some tips for building a sustainable business.
Take yourself out of the equation: Even if budgetary constraints don’t allow for you to take a more hands-off approach, it’s still imperative to work as if they do. This means there should be no to-do lists in your head, nor can you operate at all hours of the day or night. You have to have a solid understanding of exactly the time required to complete client work within reasonable workday hours.
Otherwise, when it’s time to bring on additional staff, you won’t have a solid understanding of the time required for each client job or transaction. This makes it difficult to set appropriate expectations for both the client and your employee.
Document everything: Every time you communicate with a client, whether it’s returning an email, answering a quick call or following up on something, that interaction should be documented.
In larger organisations recording interactions is part of the job, but when it’s only yourself or a small team, it’s easy to overlook this critical step. I mean, you’re not going to forget the call you had with your largest client just the other day, so it’s equally as easy not to take the time to document it when you’re limited on time as it is.
However, documenting for your memory is not the point; the point is to get in the habit of creating systems, and documentation is the first step. By doing so, you’ll be able to reference workflows that you otherwise might not have thought of because they are second nature. This can also be invaluable if a client ever gives you pushback on what’s being delivered or if you have to have an out-of-scope discussion with a client.
Master the mundane: To build a systems-based business, you must master the mundane. It may not be exciting, but you have to do it. If you want to achieve predictable results, then you must do the same thing over and over and over again. Doing this creates a habit and becomes your daily method of operations. If ultimately your goal is to grow out of your city, state and country, then implementation of this regular method of operations is imperative.
Automate your processes with technology: use technology to automate the process. Create video tools, sales funnels, slides, manuals and presentations that will allow you to streamline your efficiency. If you can create something one time that is used over and over again, this asset will be massively beneficial as you scale. Before you do the next task that might be second nature to you, think about documenting each step along the way.
Leverage technology to send messages, communicate with your team, streamline conversation and automate processes. Technology simplifies the sales process and enables you to do things you’ve never done before, all within the palm of your hand.
Most people are stressed about their results because they do not have systems that provide them with predictability or alert them to foreseeable issues. Results are the by-product of behaviours that drive activity and get results.
To create a system, you need to change your perspective and look through a new lens as you determine the best daily method of operations for you and your business. It’s no longer about you; the goal is to create systems and processes that maximise automation and, most importantly, take you, as a business owner, out of it so that it can be duplicated.
According to a report by Gusto, prioritising environmental sustainability in your business has an overall positive effect: it helps protect the environment while also benefiting your bottom line.
The report added that the only difficulty is figuring out how to get started and where to focus your time and effort.
In conclusion, building a sustainable business isn’t about overnight success—it’s about laying the right foundation for long-term growth. A business that focuses on a clear purpose, sound financial management, strong relationships, and innovation is more likely to withstand challenges and remain relevant in an ever-changing world.
Success comes from making smart decisions every step of the way. Prioritising financial stability, investing in employees, and staying adaptable ensure that a business isn’t just surviving but thriving. Businesses that treat customers and employees well, embrace new technologies, and operate with integrity naturally attract long-term support and growth opportunities.
At the heart of sustainability is resilience. No business journey is without obstacles, but those that continuously learn, evolve, and stay committed to their vision are the ones that last. By focusing on long-term impact rather than short-term wins, entrepreneurs can build businesses that not only stand the test of time but also create meaningful value for generations to come.
