More than 5 million American businesses earn less than $5 million annually in gross revenues. These businesses account for more than 40 percent of the Gross National Product, yet they have largely been ignored in the federal government’s stimulus and financial reform efforts.
How are today’s businesses to survive and thrive at a time when the economy remains shaky at best and growth continues to stagnate? The answer is Conscious Business Development, also known as Triple Bottom-line (3BL) or Conscious Capitalism.
Conscious business is defined by Wikipedia as “expanding the traditional business framework to take into account ecological and social performance in addition to financial performance.” This is a new way of doing business that is good for people, profits and the planet. It’s about building wealth, in a sense, whole wealth – something that you’re deeply passionate about, you care about, and that you want to do the rest of your life.
As a veteran entrepreneur of 25 years, I’ve witnessed a shift happening in small business today. People are realizing that they can actually make money doing what they love, doing it with integrity, and creating a life they love. And it is not just a feel good fad. The Conscious Capitalism Institute (CCI) has found that businesses that adopt this model outperform the S&P 500 9 to 1 in the same ten year period.
Being 100 percent aligned with your business and how it behaves is the true measure of a conscious business, walking the talk always in your life, in business and in public.
To tell if you’re aligned with the conscious business model, I offer these three things as guideposts:
- Stakeholders – How decisions are made is critical. When making critical business decisions do you choose the cheapest route or highest short term ROI? Or do you engage with your customers, vendors, employees and investors to make a decision that serves them all the best you can?
- Impact – A conscious business helps to solve a need/problem for a customer. A positive impact is not limited to charitable contributions or social entrepreneurism. Do you and your stakeholders support causes that are larger than your products or services?
- Connection – Is there separation in the way you behave in your business versus in your life?
Business owners and entrepreneurs can receive a free Conscious Business Development Kit to help them understand and put into practice this holistic approach to doing business that is making global headlines.
All businesses that register will receive the free Conscious Business Training “Creating a Business for Life” (a 40-minute webinar.) Interested entrepreneurs and businesses can receive their free training by going to http://www.wholewealth.com.
Author: 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.
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