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Opinion: A New Normal

A billionaire weighs in on the new approach he believes is now needed in business.

Fred Tsao

We’re at a turning point of a new era where a new world view is required. This new era, of integration and holism, is informed by the challenges of our time: sustainability, globalisation and technological application, rather than the past era of materialism and separation. 

The human race has reached a crossroads. We have achieved affluence as a species but our life as a system is in grave danger. We now recognise the challenges of our future and we have the choice to go on the journey of awakening, shifting our consciousness and alignment to create a new humanity that includes new economics, new politics and a new social structure. The nature of economics will shift as we move from today’s market economy to our new world view. This is the journey towards natural alignment with the universe.   

In a world where AI has redefined the marketplace, all engagement will involve creativity in one form or another. Creativity will be the main thing that human beings will need to offer to address the dominant challenge of the new era: sustainability.  

To adapt to this new era of consciousness, we need authenticity. We need to find ourselves and follow our calling. The reason we are stressed is because we are not at ease with ourselves, that relationship is damaged. Until we love ourselves and connect with ourselves it is difficult to express that love outwardly.  

Consciousness is the mother of all things. This is the important foundation of my book Quantum Leadership, that a new world view and a new approach is needed in business. I name it the ‘Era of Wellbeing’.   

Already businesses are moving up the eco-system, moving from corporate social responsibility, to ESG, to impact investment, they are moving to look at conscious capitalism. To bring back the ethics to the self-interested drive that has led to the consumeristic market economy and an unsustainable future.   

During the industrial era innovation was focused solely on more efficient production, for greater profits. In this new era, innovation will focus on wellbeing of life and the wellbeing of our place within the entire system.  

As humans we are now creating a new world view that will hopefully cross the differences of our past to bridge into a commonality and communication, so we can work together on this new world view.  

Business will play a very important role as we move into a sustainable economy, where consumeristic, non-ethical activities will not be our choices. As we change our world view we will desire different things. It will be largely up to business owners to meet the needs of our new era, to resolve the sustainability issues that humanity is facing, by applying themselves to create a better world.  

In the new world, there will be a new purpose. Profit for the sake of profit, is not the purpose. New billionaires with new resources will be a new creative forefront of leadership. Applying personal wealth for purpose will be the ultimate goal. It will be critical that they use their skills to generate new business models and new ways of being, and new products for the new era. If you are already successful with wealth, how would you apply your resources to find your true happiness? 

My advice is that this is the time to connect with yourself, reduce stress and think about purpose over profit. Look long term, allow your goals to be cross-generational. Perhaps your children will then continue your journey of purpose.  

Fred Tsao is the fourth-generation chairman of IMC Group and the founder of Octave Institute. 

This article originally appeared in Billionaire's Learning Issue, Winter 2021-22. To subscribe contact This email address is being protected from spambots. You need JavaScript enabled to view it.