What is a Slow Business?
Can we talk a minute about Slow Business?
Slow vs Fast Business
And why it matters
There seems to be a perception that a Slow Business (I’m referring to the slow business movement) is about building your business slowly and bringing in very little money. This isn’t necessarily the case. Because in the end, the purpose of a business is to make money, so making money should be a priority.
Slow Business, in contrast to Fast Business, is the art of consideration.
Slow Business is about making considered and conscious decisions in your business while working. It’s about taking into consideration your brand values, your footprint on this planet, your skills and your resources. Slow businesses have in mind the environmental and social impacts of what they are making and how they are doing business. They are continually aligning themselves as a human with values with that of their business. They are thinking about the long-term and not just a quick profit. For example, if you’re thinking about adding a new product, you think about more than just the bottom line as a slow business.
A fast business asks:
how much does it cost,
how much can I profit?
“Slow Business, in contrast to Fast Business, is the art of consideration.”
A slow business asks:
How can I make the product better
How can I make adjustments so the product is more sustainable
Where are my supplies coming from and is it a business that is eco-friendly or impact-driven or transparent about who is actually making the product and their working conditions
How can I increase the perceived value without doing harm
Are there alternative materials I could use: think the 5 R’s (Refuse, Reduce, Reuse, Repair, Recycle)
How does it align with my brand and myself as the creator and business owner
Who could I collaborate with to make this more amazing
Have I thought through the entire lifecycle of the product and its packaging: think Cradle to Cradle
AND how much does it cost and what are the profits?
That being said, it’s true that a Slow business design/ideation process can be a bit slower but it’s not true that they will make money slower. In fact, there are quite a few studies out now proving the exact opposite. Companies that are aligned with the Slow Business format are DESIRED and growing exponentially faster than the fast businesses with today’s conscious consumers.
If this sounds interesting to you and you’d like to learn more about to incorporate sustainability into your life and business, check out the Sustainable Artisan Guild (a global initiative by Artisan & Company).