Those of us who believe in conscious capitalism are always looking for ways to give back to the community somehow. But is it only the responsibility of conscious capitalists to worry about saving the world?

The heart-warming Panera Bread story that was zooming around the internet a few months back made me think, why has it become so hard for entrepreneurs to be kind without getting something back in return? Yes, I understand their main goal is to make profits and expand their business but is that really all? Do they not owe it to the community to make it a better place for everyone else to live in?

The story that I am talking about didn’t involve hundreds of dollars. It was quite simple if you remember, a young man’s dying grandmother wanted a bowl of soup from Panera Bread which was served only on Fridays. To try his luck, the young man called and talked to the store manager of the closest Panera Bread. Not only did the store manager agree to make the soup for his grandmother but she also included a box of cookies as a gift from the Panera Bread staff.

The guy and his mother shared the story on Facebook and the rest is social media history. This small act of kindness generated thousands of fans and comments on the Panera Bread Facebook page. Everyone was talking about it. Did the store manager at Panera Bread know that this very small yet very generous act of kindness would bring so much business and recognition to the brand? Of course not. Sometimes you just have to follow your instinct and do the right thing instead of worrying about your profits, costs and what not.

This little story offers great lessons to entrepreneurs all over the world about the human side of a business and how a little act of kindness can make a huge difference.  Sure, it is important to make money and it is important to be efficient but only as long as it doesn’t come at the expense of humanity.

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Small business support can come from a wide variety of places, it may be from a relative, a friend or a company like ours. One thing that small business owners need to keep in mind when taking measures to move forward is that money doesn’t grow on trees. You may have small business support but you need to be careful.

While spending money on things such as advertising, decorations etc.  may seem like a good idea at the time, in reality it’s not always smart to do so.

Those small business owners who are willing to think “outside of the box” with regards to smart, cost-effective ways to run their company, stand a better chance of succeeding in the long run.  Here are a few bits of alternative startup advice.

A.  Barter

Bartering is actually a lot easier than many people realize.  The trick is making sure that what you are doing for the other person, and what they are doing in return, have equal value.  Keep in mind that equal value does not always have to do with money.

B.  Advertise Incrementally

While you may be inclined to do a massive advertising blitz for your new service, it can be costly.  Building buzz in small ways, over an extended period of time, can be equally, if not more, effective.  Also, it can cost considerably less money.

C.  Be Bold

Being bold with regards to your business means being willing to talk about it.  However, there is a fine line between being bold… and being completely obnoxious.  Pick where and when you choose to speak about what you offer carefully.  If you understand your audience, you can turn them into clients.

Here are a few more money saving tips from Forbes that can be helpful to small business owners.

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Small business support can come in a range of guises. It can come in the form of startup advice from similar businesses, “seed” money from an established entrepreneur, or barter agreements with related companies. Whatever form the small business support takes, having it can mean the difference between succeeding with your new business and failing. Getting off on the right foot is everything, and often times, that requires guidance from someone who knows more than you do.

If you have a business mentor or support system, think carefully about the questions that you need answered. Are you worried about how to handle money? Ask questions regarding accounting, how to handle payroll, and what to expect come tax season. Are you unsure of hiring practices? Ask about the recruiting and interviewing process, and ways in which you can be sure you are choosing the best candidate for the position.

We all know that starting a business is not an exact science, and will be different for everyone; getting advice from the people around you who have a proven track record is always useful, they have experience, why not use their experience to make your decisions?

Companies like Cohesian have experience of working with in sectors and so they are aware of the pits and falls that one might have to face. Don’t hesitate to get small business support and advice from anyone. You don’t have to blindly do whatever people tell you, just use the portions of advice that make the most sense for your company, and be sure to thank them for their time. With any luck, you could be the person giving out advice in the future.

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Your start-up’s IT department may be small now, but if all goes according to plan, it won’t be small for long.

And while most startup advice dwells on important things like “flexibility” and “scalability,” these terms are pretty cryptic when taken in a real-world context.  So today we’d like to talk about the future of IT and how it fits into your start-up’s short- and long-term planning.

First, a caveat.  We won’t get into pie-in-the-sky consultant speak or drop terms like “IT revolution.”  Our aim is to briefly consider how the IT function will change, and how you can prepare for it.

So, first and foremost is the idea that IT departments will remain small.  In other words, even if your start-up experiences rapid growth, you’ll still be able to squeeze efficiencies from a lean startup structure, particularly within the IT department.

This is accomplished through outsourcing technical jobs like applications development and embracing a centralized structure, in which IT workers remain at the headquarters, rather embedded in different functions or business units.  Centralization, therefore, implies a continued reliance on standardized, out-of-the-box solutions, particularly those that reside on the cloud.

In a piece that was published in Inc. Magazine Eric Ries explained how customers do not care about how a product is manufactured or how long it took to be manufactured, all the customer cares about is if the product fulfills their needs or not. This theory explains to us exactly why the future of IT in a startup is so predictable. Your customer doesn’t care which country, region, or state your developer or programmer is from or how big of an IT department your company has, all your customer cares about is the end result, your product, which you need to make sure is perfect.

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Launching a business is scary. Let’s be real. You are putting a great deal of time, effort, and often money, into a venture that you hope will quickly catch on with the public at large, justify the amount of work you have done to this point, and compensate you for all of the hours you have spent. It is a gamble.

Many people seek startup advice, looking for a little bit of certainty. Unfortunately, the world of startups is fickle, and certainty is in short supply. However, there are ways to ensure that your company starts off with the maximum opportunity for success.

A lean startup business model can help you put your toe in the water without being worried about dunking your head as it were. When you take the lean startup approach, you can gain customer feedback, measure the growth of your product, and spend less time monitoring product development.

In this interview with TechCrunch Eric Ries, the man who came up with the term “The Lean Startup” explains how startups should not be in a rush to get big, instead they should be in a rush to have a great product. He emphasizes on the importance of the first product that any startup manufactures and how it is inevitable that the first product is going to be bad in some ways. But this is the opportunity for the startups to make improvements and learn as quickly as possible by launching upgraded products one after the other.

By releasing multiple products or ideas one right after the other and gathering data from multiple sources, startups can make multiple small adjustments and are not reliant on one product to create their entire profit base. The end result is that they are better able to stay afloat without relying on outside sources of funding. If you are considering launching your own business, take a moment to consider the lean startup model. It can make the difference between longevity and failure.

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Ask five different business owners for startup advice and you’ll probably receive five different answers. But regardless of the different advice, most experts agree that you need capital to fund a startup. Some businesses can be started with little or no money. But if you need funds to lease/buy equipment, advertise or hire personnel, here are a few tips to help you drum up the cash.

1. Go to your bank. Start with your bank to see if you can get a collateral-based loan. These loans are ideal for people who have property, such as a paid off vehicle or other personal belongings. You can pledge the item as security and obtain financing, as long as the collateral corresponds to the value of loan.

2. Tap your personal savings. Whether you have money in the bank or within a retirement account, consider using these funds as startup capital. Don’t deplete your savings. Take only what you need to get started.

3. Friends and family. Regarding startup advice for a new business, some experts recommend soliciting financial help from family and friends. In return, they can become a silent partner in the business and earn a percentage of the proceeds.

4. Home equity loan. This is a risky move, but if you have plenty of equity in your home, you can borrow against your equity and fund your business. This piece of startup advice is effective, but if you default on the loan, the lender can take your house.

5. Crowdfunding. This is a great way of raising capital for your startup and is used by both startups as well as established small businesses. Here’s an article from The Huffington Post which doesn’t only explain what crowdfunding is and how it can help startups but has also listed down other ways to help you win the fund-raising game.

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Good startup advice can be difficult to come by. Not because it doesn’t exist, but because there is really no hard and fast rule with regards to what works and what does not. There are as many ways to handle hiring, set-up, project management, and investors, as there are businesses. While there is no truly sure-fire way to proceed, there are a few things to keep in mind as you launch your business that can have an appreciable impact, no matter the type of business.

1. Lawyers are good things.

Begin working with a lawyer or legal team early on, so that you can be certain you are making appropriate decisions about the long-term existence of your company.

2. Do your homework.

When launching a start-up, research is your best friend. Know the demographic that you are targeting inside and out, and you will have a better chance of attracting the customer base that will keep you growing.

3. Know your investors.

Just because a person has money and is interested in your firm, does not mean that they are the best people with whom to associate. Before making any sort of agreements, be sure that you know exactly with whom you are making those agreements.

4. Select your team carefully.

Take your time in hiring and building your team. It is important that you surround yourself with an awesome team because your team is going to help you overcome any obstacles that come with starting a company.

5. Do what you love.

This last piece of startup advice comes from a young entrepreneur Jamail Larkins of Ascension Aircraft. He says that the more you enjoy your job, the easier it is to work and that’s important, especially when starting up your own company.

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Usually people  consider conscious capitalism as an idealistic and non-workable theory. But if you look back at the summer of 2012 when  Barack Obama’s presidential campaign began rolling out expensive ads in swing states, it painted Mitt Romney as an out-of-touch plutocrat. The President’s strategy was simple: define your opponent before he can define himself.

This tactic underscores a business reality as well: in the world of conscious capitalism, perception matters.

Take this recent article in Forbes on the topic, which poses the misguided question: “Conscious Capitalism: Can Empathy Save the World?” Don’t get us wrong – we think it’s great that conscious capitalism is in the news, but the title of the article seems to miss the point. Let us explain.

First off, many conscious capitalists believe that change is best accomplished at the local level. Many do not advertise ambitious plans to “change the world,” but instead, support their local communities, charities, and partner non-profits to contribute value to the society. Change can be small, gradual, and incremental.

Secondly, most conscious capitalists aren’t in the “empathy” business. After all, empathy can only get you so far. Talk to a few conscious capitalists and you’ll hear them talk about pro-actively empowering individuals, expanding opportunities for under-served populations, and using money – yep, that dreaded word – to accomplish these goals. So the term “empathy” is too inert, too vague, and too passive.

Most of us think that conscious capitalism does not generate profits. It is one of the misconceptions that need to be busted. Though the philosophy is based on higher purpose and transcends beyond profit maximization, this does not mean that businesses will not earn anything in return of their products and services.

Our point: when articulating your goals as a conscious capitalist, synthesize your message to the society as something practical, memorable, and actionable. And if you happen to change the world in the process, well, that’s just an added bonus.

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More and more firms are discovering that conscious capitalism need not be a zero-sum game. Conscious capitalism is more practical and inclusive than other corporate philosophies that are based on philanthropy.

This article from Ivey Business Journal describes conscious capitalism as “a philosophy of doing business that incorporates the principles of higher purpose (beyond profit maximization), stakeholder interdependence (rather than shareholder centricity), conscious leadership (instead of command-and-control or “carrots and sticks”) and conscious culture (in place of bottom-line obsession).”

This business philosophy allows companies to make profits while behaving virtuously. In other words, firms don’t have to choose profit on one hand and social good on the other. In fact, research is showing that conscious capitalism and corporate social responsibility can be a competitive differentiator to drive profitability.

The Caux Round Table, a network of “conscious capitalists” argues that the most profitable companies are really good at maximizing the value of “intangible assets.” Unlike a widget or a car muffler, intangible assets are created through time and effort and can be either “legal intangibles” (e.g. trade secrets, patents) or “competitive intangibles.”

Competitive intangibles directly impact the organization’s bottom line and it’s from competitive intangibles that competitive advantage flows. (For example, one study found that 90% of enterprise value generated by tech companies, come from these assets).

The most common source of this asset is human capital, but studies are now finding another powerful type of intangible asset: corporate social responsibility. It holds incredible potential to act as a differentiating factor and it can be seen in companies like Whole Foods, which isn’t shy about highlighting its work in developing countries and with small farmers.

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If you’re seeking to blaze your own trail in the world of entrepreneurship, it’s important to learn as much as you can before you hit the ground running. Now whether you do it through small business support and advice from us or any of your friends is up to you. Because no matter how good your business plan or how powerful your backers, the success or failure of your business ultimately depends on you and your skills. To get started, use these three tips below to avoid classic rookie mistakes:

1. Don’t get Cocky: Instead of thinking you’ve got everything under control, don’t be afraid to ask for startup help or startup advice. A great place to go for insider tips and tricks is Cohesian.com, which offers small business support from a model of conscious capitalism.

2. Take Your Time: Don’t rush in to small business ownership before you’re ready. Be sure you have the time, capital, and connections to make your business work before you quit your day job and take that major leap into the entrepreneurial world. Though it can be hard to wait, patience will pay off in the long term.

Before starting your own small business you must make sure to learn all about the pits and falls that you may have to face on your journey to success. Don’t be afraid to ask for small business support and advice from experienced small business owners, they have been through what you are currently going through and so they can help you learn the tips and tricks of running your own business. Also, this small business success guide from Fast Company can help anyone pondering the leap to entrepreneurism.

3. Persist: Many entrepreneurs become discouraged when their first business plan folds, and decide to declare themselves failures and fold up shop before they’ve really even gotten started. Overcome this pessimistic attitude by expecting to fail a number of times before you succeed, and look at each failure as a new opportunity to refine and improve your business model.

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