FROM PROFITS TO PURPOSE
Volume 16

Business In The Digital Age

Classical economic theory states that firms exist to maximize profits. In that old energy, businesses inevitably focus on profits. But in the new energy of our age, businesses which are solely driven by profits would not be able to sustain themselves in the long run because the earth and its inhabitants are awakening to a higher vibration. Awakening leads naturally to people making higher choices which lead to a more enlightened and caring society.

One aspect of this higher vibration is that people are becoming more sensitive to the integrity behind products and services provided by businesses. The new millennial consumer looks not only at the product, but also who and what produces it, and fakery will not escape them.

Rise Of The New Consumer

Yes, consumer behavior is changing. News is that more and more people are buying online and changing the retail landscape from brick and-mortar to digital stores. Malls could be in trouble if they don’t adapt to cater to the changed landscape. In another development, fewer people are buying luxury brands as the digital culture reduces outside social contact other than through the digital screen. Youngsters today are more into collectibles than branded things, they like what they buy to be unique and personal. They dare show themselves up authentically instead of “hiding” behind brands.

The New Generation

To understand the trigger of this change, we have to go back to the 1980s and after, when indigo, crystal and rainbow children were born and helping earth and humankind evolve to a higher vibration (please refer to bodymindsoul Volume 7 article “The New Generations of Children”). These children who are now adult consumers and decision-makers, with their more loving nature, are reshaping the world in ways we thought were not possible. The earth is truly evolving much faster than it ever did before because of these new generations of remarkable people.

Going into this new era, which essentially is the new future of the earth, we can see the sensitivity of the younger generation (and all future generations to come). These new generations are more heart-based, more loving, more caring and more sensitive to energy. They are also more considerate of the needs of the community and not only of themselves. They are purposeful, know exactly what they want and have the self-confidence to have what they want.

Purpose: The Golden Key

What then should the new business model be like? What can new and existing businesses do to adapt to this change in the new consumer mindset so that they can survive and prosper in this new age?

The holistic business in this new era is a business that balances profit and purpose. It is a business with an end goal that provides a benefit. That is the whole idea of building a business: it’s not really to take but to give. Thousands of examples prove that truly successful and sustainable businesses are those that provide a social benefit which gives the business a strong vision of purpose. Great examples of global brands that have thrived on a strong purposeful message are Google, Dove, Starbucks, Patagonia and The Body Shop.

It is like the difference between people: some people live their lives taking while others live their lives giving. Businesses too are like that, there are takers and there are givers. The giving businesses will of course also receive money for their efforts. But that is not the sole intention of holistic businesses: they build the business not only with the intention to make profit. Holistic businessmen build the business with a purposeful intention. They build the business to provide a value and to serve society.

Balancing Purpose & Profit

All great products come with a purpose. It is purpose that drives the plans, strategies, actions, people and systems. It is the purpose that makes the customer loyal. It is the purpose that makes the employee stay. People today do not buy what you sell, they buy why you sell it.

And yes, there are indeed businesses which are very purposeful but not profitable. It may be because they lack a good marketing plan. Or it may be due to their internal poverty mentality, where they subconsciously feel that they can’t take a profit when they have purpose. In such case, it has nothing to do with balancing between purpose and profit but with the business person having an abundance block, where the person doesn’t allow abundance to flow through. The block then manifests in his business as lack of business profit.

So running a holistic business does not mean you throw all good business practices out the window. On the contrary, it means you have to have a sharper business sense in order to balance profits and purpose. Where you already have a purposeful intention, a purposeful product or service, you need to combine them with a professional business plan, goal-setting, marketing plan and all the required entrepreneurial knowledge to propel your business to the desired profitability.

The New Employee Mindset

More and more people today are leaving their given jobs including lucrative corporate positions to look for jobs that give them greater meaning in their lives. If a company today continues to have high staff turnover, one big reason would probably be the lack of purpose to drive the staff force to continue to serve the mission of the company.

The new generation has a different mentality, they are not so much into the money, titles or positions like the previous generations. What they care about is whether they are passionate about doing what they are doing. Employers can’t threaten them for they are ready to leave anytime. It’s still about reward, but this time it’s not money first but happiness.

The world is changing. Imagine 30 years into the future where the world will be populated by these new generations. How can any company today which wants to still be around in the future not start to change now to meet that unstoppable future? If it doesn’t change and become a holistic business that’s purpose driven, there’ll be nobody working in the company!

Recruitment In The New Era

There are some businesses today which are in a “panic” because they are clueless as to what’s happening and don’t know how to manage these new breed of employees. Actually, the only way to manage them is to connect with their heart. There is no other way – rules will not govern them, fear will not threaten them – but the heart will bind them. And this is achieved through purpose. The old motivation ways just do not work anymore.

Look around and you’ll see the signs, the new job seekers are heart-based people, so can you still use traditional hierarchies to manage them? No, these people will not listen, they may not even respect you. So what makes you think they want to stay in companies that don’t cater to their needs?

The New Customer Expectation

People today do not buy products or services but the “experience”. Steve Jobs had said, “You’ve got to start with the customer experience and work back to the technology – not the other way around”, and this describes what today’s customer expectation is. Businesses today must not only provide quality products and services but with it, a customer experience that is both satisfying and fulfilling.

Another way to appeal to the new consumer is to consistently give extra value. For example, if your product is priced at one thousand ringgit, you give two thousand ringgit worth of value or its value equivalent. This is where, when bottom lines are still important, value equivalents such as purpose, exceptional customer experience, after-sale service, customer engagement, etc. come in to add value. You give more than what you take.

The Death Of Traditional Systems

The current business operations model is full of traditional systems that are designed around the task objective. The holistic business must turn systems design around – it must design systems around the heart, and not our heart around the systems as some people might think. The intention and everything else must start from the heart, and these heart-centered systems will make things more efficient and productive.

This is why current corporate social responsibility (CSR) programs are not yet holistic by our definition, because they are still traditional businesses with traditional ways of doing things, only that they put heart into what they do.

Win-Win-Win

So where do you start? Start with your community members, your colleagues, your board of directors, your staff force, your customers, your planning, your strategizing, everywhere. You just have to always question yourself, “Does it only benefit me, or does it benefit everybody involved?” You must always have a win-win-win situation inside to create a satisfying outcome for everybody, a win for you, a win for your staff force, and a win for your client. There’s always a solution for that, as long as your business is a purposeful one.

It’s A Lot Like Life

In the end, running a holistic business is like living a holistic lifestyle. It is business modelled on how you should live your life for holistic wellness in terms of health, wealth and happiness.

Putting it in the other way, your life is like a business, you must know how to present yourself (marketing), how to speak and carry yourself (sales), what value you can add to others (product), how you measure and use your given resources of time and relationships (accounting) and so on.

A holistic business is about how you live your life.

Are You Ready?

The great change is happening.

When it arrives at your doorstep, it will not be a wave, it’ll be a tsunami.

Are you ready?