Conscious Capitalism Defined
Others have certainly defined conscious capitalism. I will give you my own definition. Conscious capitalism is about creating businesses that add value to society and create prosperity. I am a firm believer in this because I feel that free-enterprise capitalism is what we need now in our world and that it will lead to more cooperation and massive progress for society. I am very passionate about this topic. In fact, I am aspiring to something greater and this is why I created the Heart-repreneur® Cause. This cause is a movement of people shifting to conscious capitalism and making a big impact on how business is done world-wide. We already have over 2,000 aligned business owners who have joined the cause from around the world.
Before we begin I ask that you raise your awareness and be willing to truly open your eyes to the current state of things. Here’s what has transpired:
- Extreme poverty, by the current metric of $1.90 a day, according to the World Bank, 1.9 billion people (or 37.1 percent of the global population) lived on less than $1.90 a day in 1990, compared to a projected 702 million (9.6 percent) in 2015.
- The Census Bureau has released its annual report on household income data for 2016. Last year the median (middle) household income rose to $59149, a 4.1% increase over 2015 and a record high. The median income adjusted for inflation is also at a record high, above the peak of $58882 set in 2000.
- Our life expectancy has more than doubled and currently, a man reaching age 65 today can expect to live, on average, until age 84.3. A woman turning age 65 today can expect to live, on average, until age 86.6.
- Although most of humanity used to be illiterate, the worlds literacy rate today is 86.3%.
With all this accomplishment we still have a large problem. People don’t believe that businesses are trustworthy. At Heart-repreneur® we stand for three values: transparency, integrity, and authenticity. Yet, according to statistics, most customers don’t believe that businesses hold-up to these standards.
Let’s first look at the Gallup Poll to see what people think. The Gallup Poll shows that America’s confidence in business is at only 35%. Roper says that only 2% of CEO’s are deemed trustworthy.
At Heart-repreneur® we conducted our own study. We found that over 91% of those people responding to our survey believe the government has too much control over companies and 87% of people surveyed say businesses are too focused on profits and not enough on people or social issues.
I take the position that this is what the view of business is today.
How can we then, create businesses that are more conscious and Heart-repreneur®-like?
I use Whole Foods often as an example when I am speaking on stages. Whole Foods is an example of a business that created a conscious culture and has a higher purpose. The company set up a declaration of interdependence and a created a business built on a culture of appreciation. They built conscious leadership into their purpose-driven business. In addition, the company has a stakeholder orientation.
When a company comes from purpose first and builds a strategy on top of purpose, they are shifting how business is done. Companies that adopt this focus and know their purpose are driven by their purpose in everything they do. They care about their stakeholders and they go beyond being in business to make money. These companies can get amazing results for themselves, their customers and also make a great impact on society. Whole Foods is a prime example of a conscious Heart-repreneur® based business.
The Components Of A Conscious Business
A business that is conscious and is a Heart-repreneur® has their number one focus on stakeholders and they believe the sum is greater than the parts. They don’t believe the company or people in the company are superior and they believe in the customer and stand in their shoes and see things from their viewpoint. This philosophy must be embraced by the business as a foundational and guiding principle of the way they do business. We often hear the words “win-win” and I believe these words are critical when it comes to sake-holders. Companies seeking to create win-win situations will create solutions and move forward economically and in our society.
Another element of a Heart-repreneur® based business is conscious leadership. There are many things that make-up a conscious leader. The key elements in my view are integrity, transparency, authenticity, being purpose driven, caring, feeling, and having a strong character. Emotional intelligence is needed by leadership that includes spiritual intelligence, systems intelligence, intellectual intelligence and having a mindset of a servant leader who truly loves and cares. We train leaders to be Heart-repreneurs and to embrace the servant philosophy.
If you want to do business as a Heart-repreneur®, you need to build a conscious culture inside your business. Management consultant Peter Druker once said, “Culture eats strategy for breakfast”. When your culture is aligned, your team is aligned, your thinking is aligned, your mission is aligned. Nothing matters more than creating the right culture because culture supersedes everything.
Profits – The Big Concern
Of course, as companies look at being more heart-based, conscious businesses, they get concerned about their profits. As I mentor companies to shift to this philosophy, I hear this concern right away. After working with over 5,000 business owners, I can assure you when you have a purpose-driven business based on a conscious culture your employees and customers will be much happier. I wrote about this in one of my best selling books, Stop Managing, Start Coaching. What happens when people are focused on a vision outside of profits is that happiness naturally goes up. When employees are happier, service increases, customer satisfaction increases, employee retention increases, and so do revenues and profits.
So, conscious capitalism and the Heart-repreneur® Cause, align what is working in the world and come together to elevate the good in the world on a bigger level.
Take a moment and really imagine a world where every business was in it to elevate humanity! What would happen if every business focused on their stakeholders and if all businesses had a higher purpose for the greater good? We would be building heart-based, conscious businesses built on the right culture with the right leadership and these businesses would flourish.
I took the concept of conscious business to a new level about 2 years ago. I started a new consulting company that helps businesses become values-driven and to have a social impact on things they care about. This could be health and wellness, community, education, empowering women, environmental protection, children’s issues, etc. At Heartrepreneur, LLC, we also create visionary leaders who are focused on stakeholders and who can inspire a team to create winning situations. This kind of culture built by leaders who have a vision and purpose and who focus on the stakeholder allows all voices to matter.
Let me check in with you. I want you to be honest with yourself so you can access where you and your business currently stand. No one is judging you.
Are you operating your business like a Heart-repreneur®?
Let’s see. Answer these questions truthfully for yourself and feel free to put them in comments so I can respond to you:
- Are you aligned with conscious businesses?
- Why are you aligned?
- What does Heart-repreneur® mean to you?
- What are you putting in place in your business to be a Heart-repreneur® business?
- What steps are you taking to be a more conscious business?
John Mackey co-founder and CEO of Whole Foods Market, has led the natural and organic grocer to a $15.7 billion Fortune 500 company with more than 460 stores while being a pioneer of Conscious Capitalism. He says, “People just want business to do good. It’s that simple”. I agree. How are you doing good in business?
Raj Sisodia, Jagdish N. Sheth, and David Wolfe wrote a brilliant book Firms of Endearment: How World-Class Companies Profit from Passion and Purpose. In this book, they suggest that companies that do good are becoming the value creators for our society. I totally resonate with their message as well.
In my best selling book, Turbocharge How To Transform Your Business As A Heart-repreneur®, I actually teach how to do business more consciously, heart-based, and for the greater good.
What Can You Do Right Now?
If this article resonates with you then join the Heart-repreneur® Cause. Start telling people what the cause stands for. Give people you know an overview and invite them to come to this website, read the blog, be part of the Facebook group, listen to the podcasts or attend a Heart-repreneur® Circles Meeting.
Engage with friends, family, colleagues, and even friendly strangers who are interested in transforming how business is done today. Look for ways to share the message with groups online and offline, people you interact with, networking groups, book clubs, and social organizations. You might even do some blogging or write some articles on your own. Find your way of sharing the cause.
You can use materials provided by Heart-repreneur®. Most of all, understand people in business are on the journey waking up to these new ideas. They might not be there just yet. Embrace them and meet them where you are.
As you grow your business by being a Heart-repreneur® based business, share your case study here and then with those you meet. That will attract many other people. Most of all, enjoy the process of having a business that truly stands for something and creates value while making profits.
When I first realized my passion for transforming my business and businesses worldwide, I thought it was a movement. People gathering together to move an idea forward. As we grew quickly and I could see how much impact we were having, I realized we had a bigger social reason and we are a cause. We are rising to change the current way business is done and permanently want to change the conditions of business.
My passion lies so deep in this cause and I will go to any lengths to defend or advocate for it. My beliefs are firm and my conviction runs deep. It is time to challenge people’s beliefs about how to do business and make a profit. I invite you to try on the philosophy I have shared. I want you to picture yourself doing business in a more meaningful way, right now.
Why Should We Spread The Heart-repreneur® Message?
When we come together as a global community of Heart-repreneurs we can create a massive and much needed and catalyze a paradigm shift in business. Now that you have this knowledge you can respond to the demand that others have to learn about the cause and get guidance, information, support and even be part of the collaborative cause around the world.
Once you have this knowledge you can now bring conscious business ownership and leadership to your own business and educate others in your community to do the same. You can actually be part of the cause and get more tools and education as part of our community.
When a group of people becomes aligned towards a cause and the sum of our efforts integrates we can move exponentially toward achieving the common agenda. A big enough wave of awareness will activate the positive changes we need.
Who do you know that needs to be part of the cause? Can you share our blogs, podcasts, community, and newsletters? Can you recommend our books? Can you post content related to our events and also post and comment on updates, photos, images, relevant news articles, blog posts and videos for the Heart-repreneur® cause?
Do you use Facebook? Twitter? LinkedIn? You can post as well as like, comment and share posts we publish to create exponential outreach.
Can you also recommend Terri Levine as a speaker to help grow the national and local movement? As you identify conferences that deal with conscious business you can reach out and suggest Terri come to speak.