Conscious Entrepreneurship and Business Growth

Aug 12, 2024

Lecture Notes: Conscious Entrepreneurship and Scaling Impact

Introduction

  • Welcome and event introduction.
  • Four years of research on conscious business.
  • Free monthly events to help conscious entrepreneurs.
  • Upcoming events:
    • Authentic Selling: July 23rd
    • Personal Fuel Work: August 8th
    • Leap into Prosperity: August 8th

Speaker Background

  • Former corporate executive and president of an internet company that did an IPO in 1999.
  • Founded and sold multiple businesses; started Share On Purpose in 2008-2009.
  • Share On Purpose: invests in conscious businesses, creates companies.
  • Examples: Succeed On Purpose, Ignite On Purpose, Promote On Purpose, Talent On Purpose, ShipCo.

Conscious Entrepreneurship

  • Introduced to conscious capitalism in 2010-2011.
  • Hypothesis: Conscious entrepreneurship under $5 million in revenue operates differently.
  • ShipCo founded in 2020 to support conscious founders.
  • Global Entrepreneurship Monitor study in 2022 validated the hypothesis.

Conscious Entrepreneurship Metrics

  • Four key areas: Impact, Purpose, Personal Evolution, and Profitability.
  • Conscious entrepreneurs balance these four areas.
  • Challenges: balancing values, purpose, mission with the need to earn money.

Importance of Personal Evolution

  • Personal growth drives business growth.
  • Experience: being a better person leads to being a better CEO.

The Conscious Entrepreneur Roadmap

  • Focus Areas: Personal Evolution, Purpose, Value, and Growth.
  • Purpose: Purpose is a verb, needs measurement and action.
  • Value: Understand buyer's value equation - benefits vs. cost.
  • Growth: Businesses must grow to increase impact; distinct ways to grow based on revenue.

Phase-based Growth

  • Under $10K/month: Roller coaster, need to balance supply & demand.
  • $10K-$30K/month: Groundhog Day effect, need to shape business.
  • $30K-$83K/month: Climbing stairs, minor dips, scalable impact.

Simplifying Business

  • Focus on supply and demand balance (fulcrum).
  • Key strategies: Simplify product offering, add resources, evaluate pricing, improve processes, develop partnerships.

Demand Generation

  • Awareness (70%), Interest (25%), Desire, Action (5%).
  • Focus on relational marketing.

Athletes Advantage

  • Athletes are more successful entrepreneurs due to discipline and focus on making moves.
  • Importance of making three good moves per day.

Conclusion

  • Formula: Purpose + Value + Growth = Impact, driven by Personal Evolution.
  • Upcoming events and support offers.