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  • Richard’s Book discusses the theory that shareholders as the primary focus of a company have been replaced by a stakeholder-centric focus for business.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.


Carrying Costs in Commercial Real Estate

Understand how this one key concept will impact your ROI for your next commercial real estate investment. Carrying Costs…

Why Investing in Women Founders Will Give You a Dramatically Better ROI

Sherry Deutschmann was the founder of the health revenue cycle company LetterLogic – a company she sold in 2016.

Make Money Strategically in the Rare Earth Market

Louis O Connor is the Founder of Strategic Metals Invest, which is currently the only business in the world offering Rare Earths as physical assets to private investors.

Venture Capital & The US Economy: How the Private Markets are Generating More Profit

Teddy Himler is a Venture Capital Partner, running a fund at Antler that focuses on what he calls emerging tech ecosystems.

The Secret to Longevity Is Not What You Think

Dwayne J. Clark is the Founder and CEO of Aegis Living. With more than 37 years of senior housing experience, Dwayne is nationally known for redefining the industry.

Understanding Trauma as a Key to Your Financial Behavior

Diana Chambers is a highly respected Family Wealth Mentor and Philanthropic Advisor who established her business in the US in 2002 and subsequently in Switzerland, where she now resides.

Direct & Co-Investing for Family Offices

Randy Castleman advises family offices and institutional investors on their direct investing, fund investing, and fund formation.


An Investor’s Guide to Rent Roll

A rent roll is one of the most important tools for analyzing a prospective investment. Here’s what you should look for.

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.