Coffee with Krisstina Discussing a GoodLife over a cup of coffee.
ISSUE # 5
TABLE OF CONTENTS 03
SPRING CLEANING
06
UNDERsTAND YOUR TECH TOOLS
12
THE ‘TRY THIS’ TRAP
18
CONSCIOUS CAPiTALISM
28
operations begin with vision
32
MEET THE COMMUNITY
36
up nEXT: building your linkedin infrastructure
krisstina wise Goodread kelly white Goodbusiness Jason Edwards GoodThoughts jack miller GoodTech cecelia hoy contributing editor shannon musgrove editor
Ezine issue #5 goodlife team contributors
lauren segapeli designer
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CONSCIOUS
CAPITALISM LIBERATING THE HEROIC SPIRIT OF BUSINESS click to purchase!
by
JOHN MACKEY CO-CEO, WHOLE FOODS
KRISSTINA WISE CEO, GoodLife Team
“In a mere 200 years, business and capitalism have transformed the face of the planet.. ”
O
ne of the things I have always loved about Austin is the entrepreneurial spirit of the city. We are known for our city-wide slogan “Keep Austin Weird.” In fact, it is one of the few cities I know that not only supports but strongly embraces the concept of locally owned businesses. One of the local businesses I have admired since its inception is Whole Foods. Because of my ongoing commitment to “healthy body healthy mind,” I have been shopping at Whole Foods for years. They started as a small local business committed to their core values of “selling the highest quality natural and organic products available.” As a fellow entrepreneur, I admired John Mackey throughout the years and wondered how he mobilized his organization to be innovative and profitable, and continue to grow while staying true to their core values and company philosophy. When
his latest book, Conscious Capitalism, came out, I couldn’t wait to read it. The book provides an in-depth look into how to run a successful business, and gives a history and a new narrative that I believe is critically important for all business people to learn and adopt. Mackey explains the evolution of capitalism–how capitalism came to be viewed negatively by society, and how, as business people, we must adopt a new philosophy of Conscious Capitalism. According to Mackey, free-enterprise capitalism is the greatest system for innovation and social cooperation that has ever existed. “In a mere 200 years, business and capitalism have transformed the face of the planet,” says Mackey. If this is the case, then why has capitalism come to be perceived negatively?
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From Mackey’s point of view there are several reasons: 1. Business people have allowed the media and economists to focus on an inaccurate and narrow narrative. 2. Businesses have operated at a low level of consciousness with little thought about higher purpose or the impact on the world. 3. Media and academics have focused on the myth that all capitalists care about is money. 4. The size of the government has drastically expanded and has become ripe for “crony capitalism.”
Adam Smith, founder of modern capitalism, believed there were two principles of capitalism, 1) to maximize profit, and 2) the desire and need to care for others and for ideals|causes that transcend one’s self-interest. What is missing in the current narrative is what I consider the heart of the matter–the principle that businesses
are created from the desire and need to care for others. Further, classical economists have claimed that maximizing profits was the only goal for business. However, what I find when I ask business owners and entrepreneurs why they started their business, very few, if any of them, ever say it is because of the money. Yes, they want to make money, but that is not the primary driver. Most entrepreneurs I talk to start their businesses because they are inspired to do something that helps others. As I read the book, I wondered what we could do to change the warped sense the masses have about capitalism. First, we must embrace a more complex definition of capitalism. It starts with creating value for our customers, our agents, our staff and anyone who is part of our team, including vendors and strategic partners.
To create this kind of value means we have to have a larger vision for why and how we do business.
“.. businesses are created from the desire and need to care for others.”
This requires reinvention, which starts with a new narrative and definition. In this case, I believe we should adopt what Mackey calls Conscious Capitalism as our own narrative for life and business.
Let’s explore what each of these mean and how we can use them in the real estate business:
Let’s examine what this philosophy means. “Conscious Capitalism is a way of thinking about business that is more conscious of its higher purpose, its impact on the world, and the relationships it has with its various stakeholders. It reflects a deeper consciousness about why businesses exist and how they can create more value.”
Higher Purpose First, higher purpose means the reason “why” a company exists and the difference you want to make on the world. To find your higher purpose, you can start by answering the following: • Why does your company exist?
The book describes 4 foundational tenets: 1. Higher Purpose 2. Stakeholder Integration 3. Conscious Leadership 4. Conscious Culture & Management
• What is the broader positive impact you want to have on the world? • How do you want to engage customers, staff, and vendors? • How do you foster creativity, innovation and organizational commitment? • What core values do you embrace and live by? What do you stand for?
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Stakeholder Integration The second tenet, stakeholder integration, means recognizing how what you do affects all the stakeholders. Stakeholders are anyone who is impacted by your business. Integration starts by first identifying the stakeholders and why they are important. Once they are identified, you can then optimize their value by connecting them to your higher purpose and core values. Conscious businesses use their core values to manage conflict, make decisions and create solutions that provide harmony among those who have a stake in your business.
Conscious Leadership Once you have defined your higher purpose and integrated all stakeholders, you need to foster conscious leadership, the third tenet. Conscious leadership means leaders are motivated by the higher purpose and are attached to creating value for all. This is a learned skill and requires high levels of analytical, emotional, and spiritual intelligence. The Conscious Leader understands the inter-
dependent nature of all of the stakeholders and thinks in ways that transcend the limitations of the analytical mind. Historically, leadership was modeled on the military, which is why many companies adopted a command and control style. This military style leadership model turned business into what can be viewed as warfare-companies led by CEOs being paid exorbitant salaries and large stock options, which incentivized them to become personally wealthy by increasing the stock price of the company. This is the exact opposite of a Conscious Leader.
Conscious leaders are emotionally and spiritually mature, they possess exceptional moral courage and are able to withstand scrutiny and criticism from those who view business from a more traditional, narrow vision.
“Conscious businesses use their core values to manage conflict, make decisions, and create solutions.. ”
How do you know if you are a Conscious Leader? You can start by asking yourself the following questions:
If you answered these questions and feel like you need more work, Mackey recommends the following: 1. Discover your own higher life purpose.
1. Do you consider yourself a servant leader?
2. Quiet your mind so you can listen to your heart.
2. Do you have a great capacity to care and love?
3. Learn to deal with fear.
3. Are you authentic? Do you know your life’s purpose?
4. Find a good coach or mentor.
Cultivate your higher virtues. To read the complete 5.goodREAD 6. Develop your emotional intelligence. 4. Are you described as empathetic? Do article them? on Conscious Capitalism along people say you understand with theit rest of Ezine7. Develop Issue your #5,systems intelligence. 5. Do you do the right thing even when is hard? 8. Continue to learn and grow. become a GoodLifer today! 6. Do you have an uncanny sense when things are beginning to go off track?
9. Take care of your physical health.
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7. Do you anticipate immediate and longterm consequences of your actions? 8. Do you feel the interconnectedness of systems? 9. Do you have a passion for making the world a better place? 10. Are you willing to shoulder the responsibility of not maintaining the staus quo?
Conscious Culture & Management As you become more conscious, you will become a catalyst for creating and refining the fourth tenet, conscious culture and management. Culture is derived from the company’s higher purpose, core values, integrated