If you’ve ever wondered to yourself what ethical entrepreneurship is, you’re not alone. Many people have been using this term and it has taken the business world by a storm, but what does it mean? Defining ethical entrepreneurship should start by looking at what’s unethical and common issues that are faced in the business world.
Ethical Issues Facing Entrepreneurship
“There’s this really weird dynamic of like you have to be this martyr, like this scarcity mindset… This all needs to change.” - Jenny Nuccio
In our most recent Entrepods episode with Jenny Nuccio, we talked about radical acceptance and what it means to shift our mindsets as entrepreneurs. Common ethical issues that entrepreneurs face are:
Unhealthy work-life balance
No workplace diversity
Not prioritizing mental health
Burnout
Ineffective leadership styles
Unfair compensation
“As the entrepreneur, I always sacrificed me” - Jenny Nuccio
All of these pressing matters and more can contribute to unethical entrepreneurism. These are not only for employees of your business but also for yourself. Many business owners fail to put their health and compensation as important along with their employees. Accepting that these may be issues for you in your company is the first step in learning how to become an ethical entrepreneur.
How To Be An Ethical Entrepreneur
“If you’re not healthy as a leader then that’s not healthy for the organization and the company” - Jenny Nuccio
Being an ethical entrepreneur means thinking of the overall well-being of you and your employees. Prioritizing a healthy work-life balance should be one of the most important things you implement in your company as it can set the pace for everyone else.
“Why aren’t we radically listening to what’s happening here and why aren’t we actually like leveraging what's here.” - Jenny Nuccio
Respect
Integrity
Customer focus
Results-oriented
Passion
Persistence
These are all values that you can implement to be a more ethical entrepreneur and show not only your clients that you care about them but also those with who you work. These are also pillars that you should be following yourself. As Jenny puts it, you can’t be a good leader without taking care of yourself as well.
“We have so much more to do in educating the general public in what this actually is.” - Jenny Nuccio
The ethical factors in entrepreneurship will define what it means to be you and how your business will operate moving forward as you grow. Following ethical entrepreneur examples and making goals for you and your team to accomplish are all ways to be better in the world of entrepreneurship.