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During the height of the Industrial Revolution, entrepreneurs began expanding their businesses, creating entirely new industries and amassing considerable personal wealth. The term ‘Capitalism’ was coined to describe this emerging economy of the west; at face value, the term differentiates this system as one in which private individuals (or corporations), not governments, own businesses and property.

When we take a birds-eye view of capitalism, and the ways it has evolved since the mid 18th century — it becomes clear that, for the most part, the singular focus has always been on creating higher profits. Moreover, it is a mandate that corporations maximize the financial return to shareholders — without having any concern or focus on whether a given business provides actual intrinsic value to customers or society.

However this early stage of capitalism, which is still taught in many business schools and practiced around the globe, is increasingly outmoded. Not only can it result in lower profits, due to it’s focus on a scarcity way of thinking, one that says there are never enough resources, customers, and profits to go around, it often leaves people feeling empty and unfulfilled.

Why? Because when profit is the only goal, especially if it comes at the cost of one’s ethics and doing something they feel matters, what is often missing is a sense of higher purpose which can only come from making an important difference.

The shift in consciousness we are experiencing, particularly in the business world, is paving the way for a new approach that I call “Second Stage CapitalismTM”. Unlike its predecessor, “First Stage CapitalismTM”, this new approach has a dual focus of achieving both a higher purpose and higher profits.

It is from this second stage that the new entrepreneur path emerges. As more and more entrepreneurs choose to build a business based on their authentic heart desire to improve lives, organizations, and our world — both they, and their teams, become driven by a shared desire to make a difference.

The new entrepreneur path
combines profit with purposeThis new entrepreneur path is as much about heart as it is about making money. Those at the forefront of this movement have expanded their consciousness. They have become keenly aware of themselves, their strongest passions, deepest sense of purpose, and greatest desires to make a difference with their life; they merge these into a united path for consciously growing their businesses, increasing wealth and contributing to the greater good of the world.

To expand your consciousness is to grow beyond your current way of viewing life, and this involves moving from maintaining only one perspective, yours, to utilizing three unique perspectives:

1. YOURSELF: including owners, entrepreneur, investors in private companies
2. OTHERS: including customers, team members, suppliers, strategic partners
3. SOCIETY: including community, our environment and the world as a whole

When you move from focusing only on yourself, to also looking at life from the perspective of others and society, you become empowered to both achieve more and give more. Moreover, you see others and society as being partners with whom you work to solve problems. Instead of attempting to out-compete or play the old win-lose game, you focus on collaborating to create a triple win, one in which you, others, and our society each win bigger.

With this new entrepreneur path giving way to Second Stage Capitalism, we are moving into a more authentic, heart centered way of living and conducting business; one that empowers each of us to build a future that is right for us, others and society at large.

As an entrepreneur, owner or executive, this pivot in consciousness (and mindset) to an understanding that passion and purpose should be integrated seamlessly with your efforts to grow business becomes a catalyst for both increasing your profits and the actual value your business provides.

Taking this conscious approach allows you to reclaim your power, to move through fear, and to take control of your destiny. As a result, you experience not only significantly higher levels of wealth and success, but also a dramatic increase in the amount of meaning, purpose and fulfillment you achieve along the journey.

The more conscious you become, the more options and opportunities you naturally see. Your entire world changes because you now view life differently. It is as if your blinders were removed and you see the abundant possibilities that exist in every moment — your potential to create not just new, but better results.

Go, Make Your Difference!

By J V Crum III, The Huffington Post