Salesforce founder Marc Benioff on rethinking capitalism: "The business of business is improving the state of the world."
What’s the purpose of business?
The most narrow answer to this question is clear: to maximize profits for shareholders. I take a broader view. I think businesses have a much broader set of stakeholders--their customers, their employees, and the communities in which they exist. Sometimes, good business means making a decision on a longer horizon, one that will benefit more people even at the expense of immediate returns.
Marc Benioff is one of the most outspoken people I know on this topic. He runs Salesforce, a software company that he founded 21 years ago. It's been wildly profitable, but Marc has always thought beyond shareholders. You'll hear how he's done this in today's episode.
I’ve known Marc as long as I have reported on tech. I asked him on the show because he’s lived through an interesting chapter in the evolution of Silicon Valley. This is a guy who landed an internship at Apple as a college kid in 1984 (the year of this iconic ad) because he complained to them. But also, Marc has emerged from his experiences with a big vision for what business can achieve for humanity. I want you to hear how he thinks about this.
You can download the episode to hear about it, or listen to it below. Then, please, share your own thoughts and tag them #HelloMonday so I can jump into the conversation.
??Here are some highlights….
On business and life: "Business has to be more than just building and selling products. I mean, what are we doing every day with our lives? What is life all about? If it's not about being happy and enjoying ourselves and giving back then I don't know what life is."
On life's purpose: "We're on this planet for this brief period of time is to improve the state of the world, to repair the state of the world. That's why we're here."
On getting into software: "I started buying a couple of books and I tried to teach myself. I started writing software and I sold my first piece of software called "How to Juggle" ...for like $75. I was in the software business! I think I was out 14 or 15 years old. And then I had the bug....I was like, 'I think this is an idea. I'm not going to be a doctor. I'm not going to be a lawyer. no, I'm a software person. I really like this. This is fun.'"
On entrepreneurship and timing: "When you're doing something completely new, like what we're talking about, you're going to have to pick your moment."
On approaching business with a growth mindset: "There are two mindsets you can have in business. You can have a fixed mindset or a growth mindset. Another way to say it is that you could have an expert's mind...Or you could have a beginner's mind. It's critical for every entrepreneur, every CEO, every business leader, to really maintain your beginner's mind."
On the job of a CEO leading through COVID-19: "In this world today, you have to be empathy first. I mean, this is an empathy-first world."
?? Office Hours: Taking your questions
What’s your take on the stakeholder vs. shareholder debate? What should companies consider? I hope you’ll let me know this week on Office Hours. If you haven't been yet, I encourage you to join us. It's our coffee break, quite literally--a time to get together with listeners for a little community. Producer Sarah Storm and I go live every Wednesday at 3pm EST to talk about the week's episode, get ideas for the future shows, and generally catch up. We've got a steady group of listeners who join us every week and quite a few people who pop in occasionally. Sometimes we invite guests; sometimes we keep it very informal. If you have an idea for a guest, or thoughts on the purpose of business, or you just want to see who puts the show together, RSVP below or email us for a link at [email protected].
Defying All Odds ??
3 年https://youtu.be/clVqbX-rRx8
Principal & Chief Experience Officer @Transformidy | LinkedIn?? Top Voice | Business Growth Strategist | Customer Experience Expert | Futurist | Speaker | Author
4 年Public companies strive or even demand financial and human capital improvements every day. Why can't that extend to a word like "capitalism"? We would be better off as a society to innovate new ways to generate revenue and build positive social change simultaneously. ESG (Environmental, Social, Governance)-forward companies are starting to gain more traction (engagement and funding) and will likely to be the norm in 5-10 years.
Fractional CMO | AI-Infused B2B Marketing + GTM Strategy for SaaS Startups | A Founder's Secret Weapon For Sustainable Organic Business + Personal Brand Growth I Founders + Solopreneurs: Book a Call →
4 年Marc Benioff is leading change over at Salesforce. My prediction is that once Millennials turn into tomorrow's leaders, we will see a wave of companies becoming more purpose-driven and people-focused (over profits). Companies like @ThriveGlobal are also paving the way to offer education and services against burnout and to promote a healthier workplace.
Top 50 Keynote Speakers in the World | Helping Leaders Apply Creativity's ROI for Inspired Business Results | Creativity Strategist | Advisor | Author
4 年Loved hearing about the intersection of intuition in his career journey, at multiple points!
CEO at Informatica
4 年A great conversation on leadership, purpose and a reminder on the importance of empathy during these uncertain times. Thanks, Jessi and Marc for sharing!??