very interesting article,it is true that entrepreneurs who believe in conscious capitalism do follow their emotions as much as their intellect its what makes them different from the money minded businessmen
When successfully applied, conscious capitalism shows that a firm can grow by focusing on more than just immediate profitability.
It recognizes that other elements like environmental sustainability, community development, and a locally oriented mindset are critical ingredients to help a conscious startup thrive. In other words, it turns conventional wisdom surrounding business practices on its head.
And the fact is that running a startup brings with it many lessons that are on the surface counter-intuitive – lessons that they won’t teach you in business school.
This article in Fast Company highlights some particularly astute lessons, like “Think ‘small’ rather than search for the ‘big’ idea,” and “Realize that when people say, ‘You’re starting what?’ that you’re on to something.”
The most applicable lesson to aspiring conscious capitalists is that successful entrepreneurs “Listen to their heart and emotions as much as their intellect.” After all, conscious capitalists care about more than making tons of money – they have a vision that connects them with their community and aims to make the world a better place.
We read about hundreds of startups trying to make their way into the world of business every day, thriving to survive, but what nobody ever thinks about is the long term vision. If you are a startup, you must always think about the long term and ask yourself, “is the service I provide or the product I am making going to make a difference to the world or not?” And if it is going to make a difference then think about “how big of a difference it is going to make.”
Staying true to such a vision is particularly critical in developing a startup’s brand – an honest articulation of why you and your partners started this business will resonate with consumers who want to make the “right choice.”
long term planning by focusing the profit & loss is the main point that i like......bt overall its nice article
Really good article to read and I want to add that many of the firms really do focus on their revenue income derived from the manufacturing of products rather than focus on the environmental sustainability of the products..
Does this go to say that firms that practice conscious capitalism would be more successful than firms that don't? There's thousands of examples of companies that are generating tons of revenue and all they care is about is more revenue!
@Saif Ali Good question, certainly there are lots of non conscious companies in the world that make lots of money, and do lots to harm the environment, use force, intimidation and other means to get what they want, I can't imagine their happy, and conversely there are conscious capitalists who never quite make it. I definitely believe a company that is conscious, has more chance for success than one that is not, if you define success to include the overall effect. People. Planet. Purpose. The more beneficiaries the greater the success.