EP27: Purpose-Driven Capitalism

Eleanor Allen joins The Conscious Entrepreneur podcast to discuss the power of business to act as a force for good. It’s a culture, she says, that is formed from the top. Following her passion for environmentalism and entrepreneurship, she worked as CEO of clean water charity Water for People and while there, she attended an inner development program run by a non-profit out of Paris called the Well-Being Project. There, while gaining tools and learning skills to help prevent the pitfalls frequently experienced by those in the social impact space—high rates of burnout, divorce, and depression—she also learned to be vulnerable, unlock her heart and to deal with her biggest fears, worries and impediments. Believing similar strategies would make CEOs better and more aligned with their missions, she founded Catapult for Change, a public benefit corporation (PBC) where, through her coaching and consulting services, she helps entrepreneurs launch new ideas that are grounded in well-being. After Water for People, Eleanor worked as a lead executive for B Lab, a global nonprofit which works to transform the economy so that it benefits all people, communities, and the planet. She explains what it takes for for-profit corporations to become B Corps—certified by B Lab to meet vigorous standards of social and environmental performance, transparency and accountability. She explains the difference between working under a shareholder’s mindset versus a stakeholder’s mindset, and balancing a mission with the ever-present need to make a profit. She and host Alex Raymond discuss her plans for a future of conscious capitalism in which all businesses run as B Corps. They also discuss the issue of corporate greenwashing and the importance of diversity in the workplace. Quotes “I did have a very strong belief, and still do, of ‘Don’t stay too long in the seat.’ When you have a top job, don’t get too comfortable. And I had gotten to the point where I was super comfortable.” (6:56 | Eleanor Allen) “I truly believe, and this has a lot to do with my own personal journey—that unlocking the full potential of leaders, of their teams and then of the greater organization, can really bring out the best in people and help them prepare for their future success.” (10:28 | Eleanor Allen) “If you have a good, diverse mix of people with diversity of thought, diversity of experience, and diversity of where they are in the world, you’re going to get a stronger mix of ideas and almost certainly, better outcomes.” (31:40 | Eleanor Allen) “It is about organizational culture change, but we know it needs the tone at the top and the leadership to do these microshift and change their practices so that changes ripple through the organization.” (38:50 | Eleanor Allen) Links Connect with Eleanor Allen: Website: https://catapultforchange.com/ LinkedIn: https://www.linkedin.com/in/eleanor-allen/ Connect with Alex Raymond: LinkedIn: https://www.linkedin.com/in/afraymond/ Website: https://consciousentrepreneur.us/ HiveCast.fm is a proud sponsor of The Conscious Entrepreneur Podcast. Podcast production and show notes provided by HiveCast.fm