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It’s Hard to Be a Business
In today’s world, businesses get a bad rap. There’s a common narrative that business is about selfishness, greed, and lifting a small portion of people at the expense of the majority.
Particularly, people are upset with corporations for these perceptions, which have been exposed and proven true in certain situations. Unfortunately, this cynical mindset can be toxic as it promotes distrust that handicaps people from participating and pushing society forward through business.
At Shopanova, we believe that business, when done well, can make the world a better place. This idea is founded in conscious capitalism.
“It doesn’t have to be this way. It doesn’t have to be this thing where people show up to work and they hate their job and they compartmentalize their life. Our companies need to start with a higher purpose.” (11:01)
What is Conscious Capitalism
In short, conscious capitalism creates an ideal environment that is ethical by definition. It is all based on a voluntary exchange where no one is forced to buy certain products. Every purchase is a choice, and businesses must provide a certain level of value to survive.
“It’s so simple. If you’re not creating value, if you’re not making somebody’s life better in some way, shape, or form, you’re just not going to survive.” (2:36)
Conscious capitalism also encourages businesses to adapt to evolving landscapes. The business practices and strategies that worked a decade ago are no longer effective. If you need proof of this, look no further than 2020, pre-pandemic. The things that made a brand successful in 2020 don’t work in 2021, and we see brands fail when they choose not to evolve.
“The way people buy and sell products is never going to be the same, especially after 2020, and especially after COVID. It’s just a changing landscape, and we’ve never seen repetitive changes as frequently as we do today.” (9:14)
Conscious capitalism thrives on the idea that there is a higher purpose – that businesses provide value for the entire food chain. For suppliers, it means being compensated ethically. For customers and clients, it means partnering with the company providing the product or service. For employees, it means being bought into the brand and feeling cared for.
“The assumption is that if you pay your employees better, have higher taxes, profitable suppliers, and pay to have this environment, then your bottom line will suffer. But again, studies show that the companies whose employees described them as having these qualities actually outperformed the market ten to one.” (14:47)
When employees feel their voice is heard and valued, they are more likely to feel invested in the company. At Shopanova, we want to invest in every employee and client, providing value by empowering them and helping them grow. We believe this is critical to accomplishing our goals, and we’ve made it a core pillar of our business.
“A traditional business that is content just trying to create money doesn’t work in today’s world.” (15:58)
We believe that businesses have the opportunity to change the world for the better, and we are determined to play a part in the process. How will your brand do the same?
Contact us today to learn more about partnering with Shopanova!