By Manoj Gupta

Thirty years ago, when I started my corporate journey, the concept of a Consciouspreneur® was practically unheard of. Profit was king, and social responsibility was like a Jack or an afterthought.

But there was a business evolution along the way - the consumer, the technology, the business tools - and most importantly, the outlook of businesses evolved to integrating ‘purpose’ into business models.

The shift in perspective from purely ‘Profit-driven business’ to ‘Purpose-driven business’ will drive the future of businesses.

Conscious and Capitalism – can they co-exist?

Today conscious capitalism is on the rise.

One may wonder, conscious and capitalism? How can the two even co-exist?

Let me put it this way, if a company is not sustainability conscious today, it will have a sustenance issue for its own existence. Consumers are far more eco-friendly than they have ever been. If you try to fudge or withhold any information related to the ESG norms, they will make it a norm not to use your products or solutions.

A strong sense of purpose is the most powerful motivator!

Studies have shown that companies with a clear mission statement that goes beyond just making money tend to have happier employees, higher customer loyalty, and even better financial performance.

Seventh Generation: Caring for Future Generations

Heard about Seventh Generation?

It’s a leading brand in eco-friendly cleaning products.

Their mission?

"To inspire a healthier world through the power of nature's ingredients."

From using plant-derived cleaning agents to minimizing packaging waste, Seventh Generation shows that businesses can be profitable while adhering to values often championed by faith traditions. In this case, it is the preservation of nature.

Forest Essentials: Redefining the Purpose

Think of Forest Essentials, the Indian luxury Ayurveda brand. Their purpose goes beyond creating luxurious skincare products by preserving ancient Ayurvedic wisdom by balancing with sustainable practices throughout their supply chain.

Forest Essentials sources a significant portion of their ingredients from local farmers who use environmentally sound practices through their organic farm to cultivate high-quality botanicals. This commitment to green business practices resonates with their target audience – individuals seeking natural, effective products while being mindful of the environment. Their purpose becomes a selling point, not just a marketing tagline.

Summing Up…

Purpose and Profits go hand-in-hand.

Purpose aligns with increased Employee morale and Customer loyalty, with Profits following the band wagon. Purpose Integration into business models can yield transformative results.

While bumps might come along the way, those businesses who will embrace this new definition will thrive and leave a positive impact on the world!

Your take?