The Conscious Capitalists

How do you build a profitable company without pushing the true costs of doing business onto workers, farmers, and the planet?In this episode of The Conscious Capitalists, hosts Timothy Henry and Raj Sisodia sit down with Les Szabo, Chief Strategy & Impact Officer at Dr. Bronner's, to explore what purpose-driven business looks like when it shapes real decisions rather than just marketing. At Dr. Bronner's, that philosophy shows up everywhere, from a five-to-one cap on executive pay to the company's work building an organic, fair trade coconut oil supply chain in Sri Lanka when the infrastructure its values required didn't yet exist.Les traces the company's "All-One" ethos back to founder Emanuel Bronner and shares how family ownership and mission-aligned capital have protected it across generations. He also introduces the Purpose Pledge, an initiative developed with LIFT Economy and One Step Closer that helps companies turn purpose into an operating plan through 10 measurable commitments, three-year planning cycles, nonprofit "commitment catalysts," and public progress tracking.But this episode goes beyond corporate policy. Les speaks candidly about the real trade-offs of allocating resources across employees, suppliers, customers, and communities, and why social and environmental costs are displaced, not erased, when businesses ignore them. Together, Timothy, Raj, and Les explore the pressures of outside equity and exit-driven growth, the business case for living wages, and why lasting economic change requires a critical mass of companies rather than a handful of exceptional brands.Listeners will gain insights into:Why "a company is only as healthy as its relationships," and what "right relationship" means in practiceHow Dr. Bronner's five-to-one executive pay cap reflects its values in everyday decisionsHow the company built an organic, fair trade coconut oil supply chain in Sri LankaWhy capital structure and governance determine a mission's staying powerHow the Purpose Pledge's 10 commitments and nine-year horizon turn purpose into actionHow the Purpose Pledge differs from B Corp certificationHow to assess what living wages, climate action, and responsible sourcing really cost your businessWhy one exemplary company can't change the system aloneWhether you're leading a mission-driven company, weighing how to finance your growth, or looking for a practical framework to put your values into operation, this episode offers a clear-eyed look at what it takes to do business in right relationship with the people and ecosystems behind your success.Learn more about the Purpose Pledge and participating companies at purposepledge.org.If you enjoy this podcast, would you consider leaving a review on Apple Podcasts/iTunes? It takes only a few seconds and greatly helps us get our podcast out to a wider audience.Please subscribe on Apple Podcasts / Spotify / Stitcher, or wherever you get your podcasts.For transcripts and show notes, please go to: The Conscious Capitalists. This show is presented by Conscious Capitalism, Inc.Chapters00:00 Welcome00:32 Meet Les Szabo02:32 What "Right Relationship" Means04:20 Pay, Farmers and Philanthropy08:16 The "All-One" Philosophy12:59 Fair Trade and Regenerative Sourcing15:09 Mission-Aligned Capital19:43 Les's Entrepreneurial Journey25:26 The Purpose Pledge vs. B Corp29:08 The 10 Commitments37:39 Funding, Support and AI40:40 Public Accountability45:08 The Business Case for Living Wages50:00 Why One Company Isn't Enough54:14 Building a Movement01:02:56 Closing Questions01:09:09 What Gives Les HopeThank you for your support! Timothy & Raj

Can conscious leadership survive an era of disruption, geopolitical chaos, and financial pressure? The answer may lie not in better strategy but in how leaders convene, listen, and think together when no one has the answers alone.In this episode of The Conscious Capitalists, hosts Timothy Henry and Raj Sisodia sit down with transformational facilitation pioneer Jon Berghoff to preview the 2025 Conscious Capitalism CEO Summit and its theme, "Leading in Radical Uncertainty." They explore how "conscious convening" — the art of designing meaningful group dialogue — helps CEOs transform uncertainty into collective wisdom, courage, and action.Geopolitical volatility, tariffs, supply chain disruptions, and the rise of AI, quantum computing, and robotics are reshaping leadership faster than most organizations can adapt. Timothy Henry highlights the Summit's three core themes: how leaders show up personally, how organizations build internal trust, and how companies structurally prepare for an unpredictable future. He also previews speakers like Amy Fox, Melanie Del Becco of Torani, Ashley Blumenfeld of Standard Meat, Brie Olsen of PacSun, and Jana Werner's "octopus organization" model.At the heart of the episode is Berghoff's philosophy of conscious convening: collective intelligence outperforms any single expert in the room. He explains how intentional pauses for contemplation, paired with structured peer-to-peer conversations, turn passive audiences into active co-creators — "turning the room into the stage." Drawing on Amy Edmondson's research on psychological safety, he describes how offering equal invitations (not obligations) to speak creates space for CEOs to have honest, vulnerable conversations with peers.Sisodia raises a central tension: awakening to conscious capitalism is one thing; staying awake to it is far harder. He references Eric Ries's "financial gravity" — the pull toward short-term, shareholder-only thinking — and previews his session with Michael Harth on how governance can sustain conscious practices through leadership and ownership changes. The episode concludes with Berghoff's "crucible moments," including formative experiences at Vitamix and a chance meeting with Joseph Jaworski of Royal Dutch Shell, which shaped his belief that leadership is about inviting answers, not having them.Key Highlights:"It's one thing to awaken, it's another to stay awake." Adopting conscious capitalism versus sustaining it under financial pressure.Financial gravity never disappears — it must be managed, not escaped.Psychological safety isn't declared; it's designed through equal invitations to speak."Turning the room into the stage": peer dialogue surfaces insights no single speaker could deliver alone.Vulnerability is an ability, not a liability — emotional connection makes gatherings transformative.Great leaders don't have the answers; they design for them to emerge from anywhere in the room.Resources Mentioned:2026 Conscious Capitalism CEO Summit, "Leading in Radical Uncertainty" — Sept. 8–10, Beaver Creek, CO.Amy Edmondson's research on psychological safety.Eric Ries's "financial gravity" framework.XChange, Berghoff's company, which has trained 26,000+ change agents in conscious convening.Joseph Jaworski (Royal Dutch Shell) and Jodi Berg/Lori Connors (Vitamix) — mentors behind Berghoff's philosophy.Speaker preview: Amy Fox, Melanie Del Becco, Ashley Blumenfeld, Brie Olsen, Jana Werner.About the Guest:Jon Berghoff is a pioneer in transformational facilitation and founder of XChange, which has trained over 26,000 change agents in 50+ countries in the art of conscious convening. He has designed and led gatherings for Facebook, BMW, NASA, HP, Google, Stanford University, and Conscious Capitalism. Berghoff previously served as a senior leader at Vitamix before founding his own company. He will serve as lead facilitator for the 2025 Conscious Capitalism CEO Summit, "Leading in Radical Uncertainty," September 8–10 in Beaver Creek, Colorado. Learn more at consciouscapitalism.org.Enjoying the show? A quick review on Apple Podcasts or Spotify helps us reach more listeners. Transcripts and show notes are available at The Conscious Capitalists.Timestamps:0:00 — Cold open and introduction of Jon Berghoff3:06 — CEO Summit overview: "Leading in Radical Uncertainty"8:47 — Jon Berghoff defines "conscious convening"12:31 — Making sense of disruption-era information overload15:07 — Raj Sisodia on "financial gravity" and collective courage17:39 — How psychological safety is built in a room of CEOs20:21 — Preview of Raj's Summit session on sustaining consciousness24:00 — Berghoff's breakthrough facilitation stories from past Summits31:36 — Berghoff's crucible moments: Vitamix and Joseph Jaworski34:39 — Raj on love, vulnerability, and the heart of conscious business37:19 — Closing remarks and Summit details

What if some of the greatest investment opportunities weren't hiding in Silicon Valley or Wall Street, but inside small businesses that have been overlooked for decades?In this episode of The Conscious Capitalists, hosts Timothy Henry and Raj Sisodia sit down with Monika Mantilla, Co-Founder, President & CEO of Altura Capital (https://alturacap.com/), to explore how patient capital, purpose-driven investing, and entrepreneurial success can create extraordinary financial returns while strengthening communities. Over the past 21 years, Monika has built a proven track record investing in lower middle market businesses across low-and-moderate-income communities, demonstrating that impact and performance are not competing priorities, but mutually reinforcing ones.Monika shares why Altura Capital was intentionally built as an investment platform rather than a traditional private equity fund, allowing the firm to provide flexible capital tailored to the unique needs of growing businesses. She explains why patient investment horizons of three to seven years, combined with operational partnership and long-term thinking, consistently outperform short-term approaches. Along the way, she introduces The Altura Way, the firm's ten-pillar value creation framework that helps companies strengthen strategy, operations, leadership, governance, digital transformation, and community impact while building more resilient businesses.The conversation also explores one of the largest untapped opportunities in modern investing. Monika discusses research conducted alongside 29 of America's largest corporations that identified an estimated $590 billion in unrealized value within underserved business segments. She explains how diverse ownership, improved market access, and stronger partnerships with companies such as Walmart, Kroger, CVS, Merck, and Johnson & Johnson help unlock growth that traditional investors often overlook.But this episode reaches far beyond investing. Monika reflects on the influence of her upbringing in Bogotá, Colombia, the lasting impact of her mother, her faith-driven approach to leadership, and the philosophy that guides both her life and business: ser en el hacer—being in the doing. She also shares her unique 200-hour planning system, organizing life into fourteen categories across eight-week cycles, and explains why she considers leading Altura to be only her seventh priority after ensuring the rest of her life is aligned with her values.Listeners will gain insights into:Why the lower middle market represents one of the most overlooked opportunities in private equityWhat patient capital really means and why long-term investing creates stronger businessesHow Altura's ten-pillar value creation framework systematically scales growing companiesWhy diverse ownership and investing in underserved communities can generate above-market returnsHow market access and strategic partnerships accelerate business growthWhy values, intentional leadership, and disciplined time management are foundational to long-term successThe role conscious capitalism can play in creating both economic progress and social progressWhether you're an investor, entrepreneur, business leader, or simply interested in how capitalism can be a force for lasting value creation, this episode offers a compelling conversation about building businesses that deliver exceptional returns while expanding opportunity for more people.If you enjoy this podcast, would you consider leaving a review on Apple Podcasts or Spotify? It takes only a few seconds and greatly helps us get our podcast out to a wider audience.Please subscribe on Apple Podcasts / Spotify / Stitcher, or wherever you get your podcasts.For transcripts and show notes, please visit The Conscious Capitalists. This show is presented by Conscious Capitalism, Inc.Chapters0:00 Introduction – Meet Monika Mantilla, Co-Founder & CEO of Altura Capital1:50 What Is Altura Capital? Overview of the Investment Platform3:51 Why "Platform" and Not Just a Fund5:27 Patient Capital: What It Means and Why It Matters7:12 Non-Financial Investment Criteria: Values, Purpose & Impact9:39 The Meaning Behind the Name "Altura" – Height & Vision11:24 Dignity as a Core Value12:52 Women in Finance: The Case for Parity in Capital Allocation15:56 Investing in Overlooked Communities: The Opportunity & the Returns21:41 Track Record & Above-Market Returns23:26 Market Access & Corporate Relationships as a Value-Add26:23 Impact Metrics: Jobs, Communities & the Altura Way36:49 What Made Monika Monika? Roots, Values & Spiritual Foundation41:33 Time Management: The 200-Hour / 8-Week Planning System45:52 Rapid Fire Questions46:05 Favorite Book: The 7 Habits of Highly Effective People

What if the most powerful solution to America's growing wealth inequality was already hiding in plain sight, inside thousands of thriving businesses across the country?In this episode of The Conscious Capitalists, hosts Timothy Henry and Raj Sisodia sit down with Loren Rodgers, Executive Director of the National Center for Employee Ownership (NCEO), to explore how employee ownership and specifically ESOPs (Employee Stock Ownership Plans) can serve as one of the most compelling vehicles for building broad-based wealth, strengthening businesses, and elevating the practice of capitalism itself. Loren has led the NCEO since 2011, guiding a membership of over 1,700 companies, and few people in the world understand this landscape as deeply as he does.Drawing on decades of research and real-world examples from Springfield Remanufacturing Corporation to Torani to Henny Penny, Loren makes the case that employee ownership isn't just good ethics. It's good business. Groundbreaking 2026 federal research links ESOP companies to productivity gains of 5.6 to 6.7% over five years, turnover rates as low as one-quarter of non-employee-owned peers, and employee owners who carry 92% greater net household wealth than those without ownership stakes. As Loren puts it: "It's not a get-rich-quick scheme. It's a get-rich-slow scheme. Instead of creating a billionaire, let's create a thousand millionaires."But this episode goes beyond the balance sheet. Timothy, Raj, and Loren explore the cultural shift required to make ownership real, why structure alone isn't enough, and why companies that build genuine ownership culture outperform those that treat it as a legal formality. They also wrestle with the bigger picture: how artificial intelligence risks concentrating wealth even further, why employee ownership may be the most structurally sound response, and what it means for capitalism's long-term legitimacy if we fail to broaden who gets to own a piece of the economy.Listeners will gain insights into:What ESOPs are and why they represent one of the most compelling business models in America todayThe data behind employee ownership, including productivity, turnover, and household wealth outcomesWhat gets business owners to choose employee ownership over private equity or strategic buyers, and what stands in the wayWhy ownership culture matters as much as ownership structureHow ESOP companies build leadership pipelines and succession planning at every level of the organizationThe surprising bipartisan political momentum behind employee ownership legislationHow AI and rising wealth concentration make this conversation more urgent than everWhether you're a business owner thinking about your next chapter, a leader exploring what stakeholder capitalism looks like in practice, or simply someone who believes the economy works better when more people have a stake in it, this episode offers a clear-eyed and hopeful look at what's possible when we rethink who gets to own.If you enjoy this podcast, would you consider leaving a review on Apple Podcasts/iTunes? It takes only a few seconds and greatly helps us get our podcast out to a wider audience.Please subscribe on Apple Podcasts / Spotify / Stitcher, or wherever you get your podcasts.For transcripts and show notes, please go to: https://www.consciouscapitalism.org/podcast - This show is presented by Conscious Capitalism, Inc.

In this episode, Timothy Henry and Raj Sisodia welcome Stewart Kohl, Co-CEO of The Riverside Company, a global private equity firm known for its long-term, values-centered approach to investing.To see the full video podcast, check out the Conscious Capitalists YouTube channel hereDrawing on decades of experience, Stewart shares his powerful perspective on integrating values with valuation in the world of private equity, and what it takes to invest wisely during times of radical uncertainty. Stewart reflects on the discipline required to stay true to purpose while navigating shifting markets and evolving stakeholder expectations.The conversation also explores the practical realities of responsible investing, including the growing importance of employee ownership and stewardship. Stewart offers candid insights into what it means to lead consciously, build resilient businesses, and champion sustainable growth across diverse industries. Join us for a thought-provoking discussion that highlights the future of capitalism—and reveals why values-driven leadership remains one of the most powerful levers for long-term impact. If you enjoy this podcast, would you consider following the show on Apple Podcasts and Spotify. It takes only a few seconds and greatly helps us get our podcast out to a wider audience.Please subscribe on Apple Podcasts / Spotify / Stitcher, or wherever you get your podcasts.For transcripts and show notes, please go to: https://www.theconsciouscapitalists.comThis show is presented by Conscious Capitalism, Inc. (https://www.consciouscapitalism.org/) and is produced by Rainbow Creative (https://www.rainbowcreative.co/) with Matthew "MoJo" Jones as Executive Producer, Nicholas Peters as Producer, and Nathan Wheatley as Editor.Thank you for your support!- Timothy & RajChapters00:00 Introduction and Responsibilities of an Investor03:19 Values and Valuation in Private Equity06:46 The Importance of Company Culture08:34 Navigating Radical Uncertainty10:31 The Role of Industry Expertise20:39 Responsible Investing and Stewardship30:04 The Importance of Conscious Growth30:25 Strategies for Healthy Business Growth30:45 Organic and Inorganic Growth Tactics31:53 The Risks and Rewards of M&A33:59 Employee Ownership and Its Impact36:26 Creating an Ownership Culture38:58 Empathy in Leadership46:28 The Role of Co-CEOs in Business51:47 Rapid Fire Round56:13 Final Thoughts on Conscious Capitalism