Conscious Business or Capitalism is about balancing the 3 "Ps" - people (your team, investors, vendors and customers), profit, and the planet, whether your focus is evolutionary, economic or environmental.
The Conscious Capitalism Institute (CCI) has found that businesses that adopt this model outperform the S&P 500 long term. Any business can operate this way. We’ve been using it for years to train micro-businesses (those earning under $1 million per year) to embrace business holistically through our BrandU® Business Profit System curriculum.
Here are 10 ways you can improve your business, community and the planet:
1. Focus on the triple bottom line. Instead of reaching for profits only, think people, profits and the planet in all your business practices. For instance, define a higher purpose for your company...as just one example, you could show a commitment to green, environmentally sustainable practices and communicate this to your staff and customers. People will see you are in business not only to make payroll, but also to make a difference.
2. Look to your own passions and anchor them to your business and your brand. When your business and your passion are aligned, you can parlay these into great impact for your company and community, whether that is local or global.
3. Set on your intention. When you clearly communicate your vision (intention) and your team embraces it, mutual intentions will combine for exponential effectiveness. For instance, if your company sets the intention of helping school kids learn about the business, this can be communicated through your marketing and PR efforts. You will find customers’ word-of-mouth referrals will grow as a result. This marketing approach is proven to actually increase results and reduce costs.
4. Manage for balance. Managers must be good listeners and clear communicators to train and motivate staff to work toward a common intention. This means managers must embrace the true nature balance — people, profits and planet — to make sound and long-lasting decisions. Lead by example and commit to growing in this way of thinking. When leaders walk the talk, marketing and business growth will follow.
5. Plan to succeed. There’s an old saying – If you fail to plan, you plan to fail. Once you create a plan to meet your conscious business objectives, clear communication is crucial so that everyone is aligned.
6. Commit to meet all parties’ needs and define them clearly. When meeting with staff, vendors and customers, always set an intention and ask what each person needs to meet that intention.
7. Listen and speak non-judgmentally. Practice speaking from observation rather than analysis or judgment, remembering that emotions may push us off our intention. We've found non-violent communication techniques (NVC) extremely helpful to hold the best intentions, internally or externally. We've instituted this way of communicating in staff and vendor meetings and found it can make a big difference fast.
8. Optimize your team’s strengths. The people you're leading should be following their individual passions as well as acting strategically to meet the company's goals. Your environment must be open and safe so the deepest understanding can be established and respected by all.
9. Be on the lookout for value-added solutions. Value-added solutions shouldn’t cost money and embracing them should not feel like a risk. When you expand your definition of your bottom line to include people and the planet, you will find solutions that will also improve profits.
10. Be committed. Thinking that the connection your company has with the planet or people (inside or outside the company) won’t affect your profits is a huge mistake. They’re intertwined. Realizing the rewards and benefits of conscious business requires a change in thinking and a commitment to embracing triple bottom line processes over the long haul.
Conscious business starts only one place - deeply on the inside. A conscious business is a fascinating journey of anchoring the fullest expression of you as a business and "being" that.
While it sounds overly simple - "build it and they shall come" - it is true. The first step is "be"ing clear and powerful about what you are here to express.
W. Vito Montone is a conscious business expert and leader in the pursuit of whole wealth movement. He is co-founder of Intention Products LLC and BrandU®, a process-based, results-driven approach to helping entrepreneurs grow business from idea to brand to market. He is also an award-winning creative writer and producer with more than 25 years experience creating, producing and delivering entertainment and educational content for the stage, television, live events, interactive media and the Internet. After working for major companies such as Paramount, Disney and General Motors, Vito and his wife and business partner Kim Castle founded Intention Products in 2006 to help small businesses and entrepreneurs discover "extreme clarity" to control their business destiny. Intention Products plans to distribute $50 million in products and services to 10,000 small businesses across the nation through its $50 Million Micro-Business Subsidy. Learn more about how to embrace the triple-bottom line process at www.wholewealth.com.