Foundations of Conscious Entrepreneurship

I’m thrilled to share some reflections on the Conscious Entrepreneur Summit that took place on June 7 & 8, 2023, in Boulder, Colorado. The summit was a transformative experience, and I’m grateful to everyone who participated.

 

The Mind of an Entrepreneur

The summit kicked off with a deep dive into the psychology of entrepreneurs. I shared findings from a 2015 paper by Michael Freeman and his team, which explored the mental health challenges entrepreneurs face. The paper, titled “Are Entrepreneurs Touched with Fire?“, revealed that entrepreneurs experience lower earnings, greater work stress, and more psychosomatic health problems compared to their employed peers. Yet, entrepreneurs are not dissuaded by these challenges; they continue to create new ventures, often simultaneously closing down their previous ones.

 

The Startup Snapshot

Recent data from the Startup Snapshot survey showed that 44% of founders reported high stress, 36% reported burnout, and 37% reported anxiety. These numbers are alarming, but they also serve as a wake-up call for us to focus on our mental well-being.

 

The Conscious Entrepreneurship Model

I introduced a model for conscious entrepreneurship that begins with the individual and expands outward. The model consists of four stages:

  1. Conscious You: This is the commitment you make to change how you live your life and build your company.
  2. Conscious Leader: This is how you manifest your vision with a small group of people around you, be it your family, partners, or immediate team.
  3. Conscious Company: This is the implementation phase where you bring your vision to life within the broader context of your company.
  4. Conscious World: This is the final stage where you inspire the world with your vision and actions.

 

The Importance of Self-Inquiry

The number one tool I suggested for personal growth is fearless self-inquiry. Whether it’s through meditation, coaching, psychedelics, or somatic modalities, the key is to commit to self-inquiry as a method for growth. What mindsets can you change? What old baggage do you no longer need to carry with you?

 

What We Won’t Be Talking About

While other business summits focus on sales, marketing, fundraising, and product development, the Conscious Entrepreneur Summit is different. We focus on the internal changes needed to manifest external success. We delve into the mindsets, behaviors, and ways of being that are essential for long-term success.

 

The Journey Ahead

Over the next two days, we traveled inward, learning from incredible speakers about overcoming obstacles, avoiding burnout, and dealing with imposter syndrome. The summit was not just about acquiring knowledge; it was about transformation. It was about asking yourself, “Who am I being today?” and having the courage to be honest with yourself.

 

Final Thoughts

The Conscious Entrepreneur Summit was a journey of self-discovery and transformation. It was about recognizing that the buck ultimately stops with us. Our external success is a reflection of our internal state. As we commit to our personal growth, we not only increase our chances of success but also inspire the world around us.

Thank you for being a part of this incredible journey. Let’s continue to grow, transform, and inspire. 

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