What is Conscious Capitalism, and How Can It Help You Grow Your Business?

Conscious Capitalism Traits – what are they?

A couple of weeks ago I wrote a very long blog post on the shifts that we need to make to implement conscious capitalism – but what does conscious capitalism look like?

For many people, including potential customers, the business world can seem callous and predatory. The term “selling something” has taken on very negative connotations, and corporations are often seen as corrupt, unfeeling giants that are prepared to step on their customers and competitors alike for the sake of the bottom line.

Upon being given a sales pitch by a speaker in a business event, we’re often expected to show our courage and dedication by rushing to the back of the room to buy something we may or may not need, lest we reveal ourselves as cowards who aren’t truly serious about our business.

All too often, advertisements and salespeople try to use fear, scarcity, manipulation and false promises to push people into making a purchase, in a way that seems more like hunting than helping.

And sometimes, even the owners of the business forget why they’re doing what they’re doing and get lost in the pursuit of profit, to the point where it hurts their business, their relationships, and their health.

Thankfully, there is a better way for you to build your business, to attract customers, and to find and keep great employees who help your company thrive.

By using this model, you’ll not only have better relationships with your clients, but you’ll have better clients because you’ll attract people who are a good fit for you, rather than people who were pressured into making a purchase.

This model is called Conscious Capitalism.

 

What are Conscious Capitalism traits?

Conscious Capitalism is a more ethical, beneficial form of capitalism that focuses on the good of everyone involved. Instead of being salesy, manipulative, and focused on the bottom line above all else, a conscious capitalist’s business has these four valuable conscious capitalism traits: it has a higher purpose; it supports all stakeholders – not just the owners for even the owners and employees; it leaders practice conscious leadership and the culture is a conscious culture – all people buy into it and live it.

Conscious Capitalism Trait 1: It has a higher purpose.

Conscious Capitalism doesn’t just aim to make money. It seeks to create a positive change in the lives of its customers.

• What’s the change YOU want to create through your business?
• Do you want to improve people’s health?
• Make an aspect of their daily lives easier?
• Strengthen their relationships?
• Give them moments of joy?

Help them grow their business and fulfill their own higher purposes through their work?

When your business has a positive purpose, people are drawn to you. They can sense your passion for helping people, and your desire to make the world a better place will help them to like and trust you.

When people know that by supporting your company, they’re contributing to something positive that’s bigger than themselves, they feel good about buying from you and recommending you to their friends.

Conscious Capitalism Trait 2: It’s stakeholder-oriented.

As HPO Center explains, “Stakeholders orientation is defined as ‘the aim to benefit all parties that are affected by the future success or failure of an organization.’”

This means that in Conscious Capitalism, no one is getting manipulated, undervalued or taken advantage of. The company is focused on making every action and transaction a win-win situation for everyone involved, including their customers, employees, shareholders, neighbors, and the local economy and environment.

Conscious Capitalism Trait 3: The owners practice conscious leadership.

Conscious leaders take responsibility for the situation and give others a safe space to take responsibility for their own actions, without attacking or casting blame.

They encourage people to be conscious of their own thoughts, feelings, and values, and to share them, rather than trying to make people work mutely and mechanically, or demanding that they follow orders blindly without offering feedback from their areas of genius.

They make clear agreements, so everybody knows who is going to do what by when, and they express appreciation for specific things that other people have been or done.

They check the truth of their assumptions and are prepared to change their minds and admit their mistakes if they’re wrong.

They don’t take themselves too seriously or insist on being right all the time, but they do take their agreements seriously. Because of this, they either honor those agreements or if they can’t honor them, they renegotiate them before the agreement is broken.

In summary: leaders who practice conscious capitalism seek to be their best selves, and they encourage those around them to do the same.

Conscious Capitalism Trait 4: It has a conscious culture.

Your business’ culture represents and includes the array of behaviors that are expected and accepted by members of the organization. This culture will influence the way your employees’ act, the kinds of customers you attract, and the relationships you

have with other businesses and the world as a whole.

In a conscious culture, your stakeholders are involved in the decision-making process, and everyone’s roles, responsibilities, levels of authority, and methods of staying accountable are clear.

People address their problems with each other directly and politely, and power is exercised with responsibility and respect.

The people in your company are encouraged to be authentic, to stand by their values, and to bring their genius and creativity to the table instead of stifling it and only doing as they’re told.

Companies with a conscious culture attract better employees, promote higher levels of well-being among their staff, and are better equipped to retain their best workers because they create a positive environment for those people to work in.

Do you want to attract great customers and employees, and to make the world and your own life better?

Practicing conscious capitalism doesn’t mean sacrificing your ability to gain wealth, losing control of your business, or falling behind your more aggressive competition.

In fact, your higher purpose, your focus on win-win transactions, and your positive, healthy company culture will help you to stand out in your industry, and they’ll make customers and referral partners alike feel great about supporting you.

Speaking of support, if you want to create wealth and a positive impact through conscious capitalism, we at onCOREventures would love to support you.

If you’d like to learn more about how to become a conscious leader who creates a conscious culture that attracts great employees, helps your company grow, and draws a loyal following of high-quality customers to you, like our Facebook Page and we will promote future conscious marketing blogs to your newsfeed. Also, please feel free to comment on this post if you have ideas on how conscious marketing techniques can help you with your business efforts.

We also have a free gift for you – simply click on the image below and we will send you an eBook on how you can take seven steps to the creation of conscious marketing for your business.

 

Image Credits: Adobe Stock