Changing How Business Is Built Using Conscious Capitalism
Recently Jeff Cherry wrote a great article in the magazine Conscious Company about how the Shark Tank investors are missing the big point of “WHY” people are creating a business or providing a service. He says “We’re leaving the world where you can generate ‘greedy’ proftis first, give back later, and still expect customers, employees, communities, and suppliers to be genuinely engaged in your success.” We are entering the world of being conscious in your business goals.
This is a new ecomony, it is a “Purpose Economy”, where you ability to create financial value will be directly correlated to the manner and magnitude with which you first create societal value. Instead of building a business ‘then’ giving back, we start our business with ‘giving back’ as the primary motivator for getting started in the first place. This is conscious capitalism, first coined by Muhammad Ynaus, the Nobel Prize-wnning founder of Grameen Bank, and digs deep at why we want to do what we do. It makes us ask the harder questions…especially to ourselves.
A while ago I posted the video by Simon Sinek that states “People don’t buy what you do, they buy why you do it. And what you do simply proves what you believe.” Today, people are running their businesses and presenting their ideas on something so much deeper than making money. It is a movement that allows a person and their employees to feel and grow as they also work. To me it alleviates the stress of work, or the “making of money” and turns it into a joy that provides nourishment.
I’m not only talking about “new” business here, but I know I’m also talking to seasoned professionals already in business, with successful operations. Many of you can already answer the “why” question and do every day as you work towards your goals. Transitioning your thought process and messaging runs along the same principles and evaluation that comes with opening a conscious oriented company. You are all truly engaged, I know this, and maybe it is time to tell your customers “why” you and your employees are so engaged. Show them the “why you do it” side.
Read Jeff Cherry’s article at Conscious Company.
Jeff Cherry is the CEO and Managing Partner of the Porter Group LLC.
