In this guide, you will learn three pivotal mindset hacks that can help you master your ESG goals.
As the world continues to work through numerous climate catastrophes, it has never been more important to focus on sustainability and creating a healthier environment for future generations. This is why so many businesses are creating ESG goals. ESG goals also have the added benefit of potentially attracting new investments.
But no matter how great your goals are, it might be difficult to achieve them if you and your business don’t have the right mindset. To achieve the high expectations you have set for your business, you may need to adjust your thinking and create a new vision for your company.
Keep reading to learn how to adjust your business views, take risks, and solve problems with your ESG goals in mind.
- ESG principles focus on how a company affects the environment, what it does for its social community, and how it governs itself.
- Viewing your business from a fresh perspective can help you find innovative ways to meet your ESG goals.
- Overcoming setbacks instead of accepting failure is an important part of accomplishing your ESG objectives.
What Is ESG?
ESG stands for Environmental, Social, and Governance. These are three performance standards that industry professionals use to measure a company’s effect on the environment and its impact on society. This metric was originally used by investors to determine how “green” a business was. Businesses would be analyzed and then given an ESG rating.
Now, it is still used for investment strategies, while also evolving into the defining business challenge for the 21st century. Here is a quick breakdown of what each ESG term means.
- Environmental: The environmental component in ESG covers how a business interacts with and affects the natural world. This includes things like carbon emissions, water usage, and pollution.
- Social: The social aspect looks at how a business affects its community including its own employees. Some common social principles include gender equality, diversity, and anti-corruption.
- Governance: The governance principle considers how a business makes its decisions and how it monitors itself. Many companies include being more transparent as an ESG goal.
If your business wants to succeed and draw in new investment, you should focus on creating and promoting your ESG goals.
Use These 3 Mindset Hacks to Conquer Your ESG Goals
When you consider the ESG goals for your business, it might feel overwhelming. To help your company achieve these goals, consider incorporating some of these mindset hacks into your business model.
1. View Your Business from a New Perspective
No matter what type of business you are in, it is easy to get stuck in the same mindset day after day. By getting a new perspective on your business, you can see places where you need to make changes and places where ESG objectives can have the biggest impact. Try these suggestions to get new ideas flowing:
- Create a mastermind group: A mastermind group is two or more people who work together to help each member reach their goals. In a mastermind group, you would talk to your group members regularly about each other’s goals. You can use each other as a sounding board for your ESG goals. The other members should have enough emotional distance to offer unbiased opinions on your thinking.
- Build a new management team: With a new set of ESG goals, you might need new ideas. Talk to employees within your company to see if you have any promising management candidates that could lead your company through your ESG objectives. You can also consider hiring new talent that will offer a fresh perspective.
- Explore businesses outside your industry: Consider attending events that highlight industries outside your own. This could be an artistic event, a tradeshow, or a conference. Talk to business owners and presenters at these events to see what you can learn.
By working with other business owners, hiring new talent, and learning about other industries, your business can be well equipped with new ideas to help you take on your ESG goals.
2. Take Risks
Accomplishing your ESG goals is going to be challenging. Your business needs to be prepared to take risks and do things it has never done before.
This can feel intimidating. However, if you aren’t prepared to try new ideas, you might not accomplish your goals. Many entrepreneurs miss reaching their goals not because they didn’t try hard enough, but because they are afraid of trying new things.
To conquer your fears and get better at taking risks, you can try writing down your fears. Writing down what you are afraid of is the first step in demystifying these fears. When your fears appear less scary, you may realize you have the courage you need to conquer them.
Businesses that take calculated risks tend to be more successful than those that don’t. In addition, businesses that are willing to take the first steps in a new direction will have a competitive edge over those who prefer to follow behind.
It is important to do your research before jumping headfirst into a risky decision. Make sure you discuss the decision with trusted advisors and base your decisions on facts instead of emotions. Setbacks are expected along the way. Be sure to maintain your focus and continue towards your end ESG goals.
3. Solve Business Problems
When setting your ESG goals, try to find goals that will help you solve some of your business problems or increase your sales. According to McKinsey & Company, products that are specifically marketed as sustainable grow more than five times as fast as conventional products. This is because many modern consumers are willing to pay more for sustainability.
McKinsey also emphasizes that a dedication to ESG principles can help companies in the following ways:
- Cut costs by reducing material use
- Keep companies in line with regulations
- Boost employee morale and productivity
- Attract new talent
- Improve potential investments
This video highlights these principles.
Let Televerde Help You Promote Your ESG Goals
With a new mindset, you are ready to set bold ESG goals for your business. With these goals, your business can make a new name for itself. Televerde can help you spread the word and attract new customers who are interested in supporting businesses with strong ESG principles.
We offer a unique omnichannel experience that combines customer support, sales, and marketing into one “infinity loop.”
Want to learn more about Televerde? Contact us today to get started.