The Age of Elevated Economics: A Shift to Purpose-Driven Business Model

Richard Steel is One of Inc Magazine’s fastest-growing company CEOs, he has run both private and public companies and advised the White House Business Council.
Go Beyond Marketing and Create a Better Customer Experience

Podcast: The Age of Elevated Economics – A Shift to Purpose-Driven Business Model

Richard Steel is One of Inc Magazine’s fastest-growing company CEOs, he has run both private and public companies and advised the White House Business Council. He is an alumnus of Harvard Business School where he serves on the Alumni Board. He chairs a philanthropic fund and is the author of the best-selling book, Elevated Economics.

Key Highlights

[00:01 – 15:21] Capitalism is in a transitional period

  • What is Environmental, Social, Governance (ESG)
  • Capitalism is in a period of change; peaking globalization, capitalism, inequality, and the great wealth transfer occurring at the same time.
  • Richard’s Book discusses the theory that shareholders as the primary focus of a company have been replaced by a stakeholder-centric focus for business.
  • This change is referred to as “the day the shareholders died”
  • Corporate information is becoming more accessible, which pressures business leaders to change their ways 

[15:21 – 23:43] The Age of Elevated Economics Is Here

  • Shifting to a purpose-driven business model can have many benefits such as; Attracting and retaining talent, replacing executive-level talent quickly, and increasing consumer willingness to pay for goods and services
  • Millennials focused on nonfinancial factors when making decisions about how to invest their money
  • Sustainability strategies and practices will likely be more rewarded by this generation

[23:43 – 31:22] The $5 Tomato: Why Business Leaders Should Sell to Believers

  • Capitalism is no longer a single bottom-line business
  • There is a shift away from how we view the shareholder-only ecosystem
  • It’s okay to charge accordingly for what is valuable to customers
  • It’s an optimistic time and there are opportunities for business leaders

[37:58 – 40:04] Closing Segment

Links Mentioned:

Richard’s book: https://www.amazon.com/Elevated-Economics-Conscious-Consumers-Business/dp/1734324848 

Brian’s Linkedin: https://www.linkedin.com/in/brian-c-adams/

Previous Articles


The Ultimate Guide to Commercial Real Estate Investing

Learn everything you need to know to assess the benefits of a commercial real estate investment and make the best decisions to get started.


How Much Money Do I Need to Start Investing in Commercial Real Estate?

We frequently have conversations where people tell us, “I want to start investing in commercial real estate, but I’m not sure if I have the capital.”


Benefits of Owning Commercial Property over Residential

While both types of real estate investments have their benefits, investing in CRE can be more advantageous for several reasons.

The Revolution That Wasn’t

How has technology impacted modern finance and created an asymmetrical relationship between Wall Street and individual investors? In this episode, we speak with Spencer Jakab, the author of The Revolution That Wasn’t and editor of the Wall Street Journal’s Heard on the Street column.

Tax Savings Secrets: How Cost Segregation Analysis Can Save You Money

How can cost segregation analysis help real estate investors maximize their returns? In this episode, John Hanning explores the potential benefits of cost recovery studies and depreciation.

What is a Family Owner’s Manual and Do I Need One?

It’s time to make sure you and your family are set up to continue success for generations to come. Today, Josh Kanter shares his journey transitioning from practice as a transactional attorney to reorganizing his family’s activities under a single-family office.

Key Characteristics of High-Performing Family Offices

Are family offices becoming more popular? In this episode, Robert Daugherty dives into the importance of having a functional family office, and the role of the Chief Learning Officer in it.

Talking to Your Parents about Their Finances

As your parents age, you may find that you want or need to broach the often-difficult subject of finances. In this episode, Cameron Huddleston, an award-winning personal finance journalist, discusses how to have meaningful conversations with your parents about their finances.

Pros, Cons, and Features of Robo-Advisors for the Wealthy

Learn how to amass wealth – the right way, for you. In this episode, Barbara Friedberg, a former portfolio manager and university investments and finance instructor, delves into how robo-advisors have revolutionized traditional financial advisory services.

Excelsior Capital

A real estate private equity firm that owns and operates high quality multi-tenant office assets in emerging secondary markets.

Interested in learning more about Excelsior's investment opportunities?

Excelsior Capital

104 Woodmont Blvd, Suite 120
Nashville, TN 37205




Disclaimer: Under no circumstances should any information presented on this website be construed as an offer to sell, or solicitation of an offer to purchase any securities or other investments. This website does not contain the information that an investor should consider or evaluate to make a potential investment. Other materials related to investments in entities managed by Excelsior Capital are not available to the general public.