Here's a tip for entrepreneurs: Don't just focus on making money. Focus on changing lives.
That was the advice to business leaders from Deepak Chopra, M.D., an author and founder of the Chopra Foundation, during an interview at eMerge Americas in Miami on Tuesday.
"I spend a lot of time in Silicon Valley. When I go to Silicon Valley I like to sit in the lounge or the restaurant of the Four Seasons just to eavesdrop on people pitching. And I keep hearing this word that causes a lot of distress and it's 'exit plan,'" Chopra said.
"So, before you've decided to rob the train you are already dividing the loot. And I think that is the wrong approach to entrepreneurship. You should be asking yourself 'How can I affect the life of people? How can I improve their well-being?'"
Chopra, a holistic health advocate and the author of more than 20 books, said business leaders should be taking a different approach to how they run their company, focusing on the whole system and not just one part of it. This means making sure more than just investors are happy.
"Try and figure out who your constituency is. In a business, your constituency is your investors, but it's also your employees, it's also your customers and if you are only thinking about your investors and how to bring money back to them, then that's not a long-term good success story," Chopra said.