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W W W. M A I N E B I Z . B I Z 51 Fact Book / Doing Business in Maine N owadays, businesses focused on profit do so at their own peril. In recent months we've seen businesses doing things once thought impossible to rise to the COVID-19 occasion, often prioritizing health over money. With the significant societal and environmen- tal problems we have to solve, there is mass recognition that how we've been running businesses isn't working and we must seek alternatives. e Conscious Business Movement includes a web of collaborative organiza- tions that work together to promote the elevation of humanity through business. Certified B Corps, companies practic- ing Conscious Capitalism, and Benefit Corporations are all a part of this move- ment, creating an increasingly powerful ecosystem to benefit our society, envi- ronment and economy in Maine. No matter the path, there are fundamentals that every business leader must address to build a conscious business. What's your purpose? e purpose of your business is differ- ent from your vision and mission and is not a marketing tagline. e purpose is a clear, inspiring articulation of the worthy problem your business is attempting to solve in the world. e "world" might be macro, as in Patagonia's purpose, "Save our home planet," or your com- munity, as in ProsperityME's purpose, "Empowering immigrants to succeed economically in the community." e key is that you are singularly and passion- ately focused on this purpose. Get your team together and ask them, " Why do we exist?" Defining your purpose is the foundation of your conscious business. What do your leaders do? Anyone with any work experience knows that the way a company is led makes all the difference. A conscious business builds conscious leaders whose consistent aim is to achieve the compa- ny's purpose, not meet the bottom line. Conscious leaders are developed and rewarded for their many levels of intel- ligence — intellectual, emotional, sys- tems and spiritual. ey deeply care for everyone they work with and holistically support people to live their best lives. Has your company articulated leader- ship principles and trained, supported and held leaders accountable to follow- ing those principles? If not, you have an opportunity to move further along on the conscious business journey. The culture you cultivate Culture is the most powerful lever to achieve your purpose and business strategy. So why do so many com- panies leave culture to chance? It's often because culture feels big and amorphous and leadership doesn't understand their culture creating role. ere's truth in the saying, "As a leader you get the company/team you deserve." Everything leadership does influences the culture. When you have defined your desired culture then the programs, practices, policies, rewards, spoken and unspoken ways of working and the space you work in become tools to build your aspira- tional culture. Value for all stakeholders Every business has a bunch of stake- holders — employees, customers, shareholders, suppliers, community and the environment. In traditional business, we are trained that share- holders are the most important stake- holder. Other stakeholders must lose for shareholders to win. Conscious businesses reject tradeoff thinking and work hard to ensure every stakeholder gains value. COVID-19 emphasized the importance of stakeholder loyalty. When shareholders ran, the compa- nies surviving and thriving during the pandemic had stakeholders that rallied together to keep the businesses they cared about afloat. Ask yourself, Do I know who my stakeholders are and how my business affects them? If not, now you know where to start. Building a business that everyone benefits from leaves a lasting leader- ship legacy and, by the way, in the long term makes more money. Tara Jenkins is the founder of Conscious Revolution, a consulting practice that works with CEOs and founders to build conscious businesses. She is also the founder of the Portland Conscious Capitalism Chapter. She can be reached at tara @ conciousrevolution.biz Build a conscious business B Y T A R A J E N K I N S B Y T A R A J E N K I N S H OW TO Maine's credit unions are here for you. mainecreditunions.org Supporting Local Maine Businesses Maine credit unions know how important local businesses are to our economy. Our goal is to work with you to move Maine forward. From savings, checking and loans to convenient services like mobile and online banking, remote deposit, and online loan applications, we will help you achieve a successful future. B U S I N E S S R E S O U R C E S 200 200 IDEAS FOR MAINE'S Maine's many land trusts save small, beautiful parcels throughout the state. BICENTENNIAL

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