Stop Focusing on Wealth... Just Sustain
Adriana R.
Business Process Consultant | Neurodiverse Business Ops & Systems Strategist | Tech Writer | Succession Planning Specialist| Documenting your processes today, so you can pass the torch tomorrow.
I'm sure the majority of us at one point said "This is going to contribute to Generational Wealth" when we started building something.
But what if I told you this mindset does more harm than good? Let me explain.
Starting a business only to undercharge yourself for the sake of being nice, passionate, etc. does more harm than good.
You're better off finding a good company that shares your values to work for and use the money to invest.
Making "a lot" of money- whether it be in business or 9-5- only to not have an estate plan or insurance defeats the purpose of circulating wealth.
Purchasing land, homes, etc., and going into significant debt for the sake of ownership, does not help if no strategy or enough money is coming in to maintain.
There is nothing wrong with renting. Many people are blowing hot air when they talk about ownership. Talk to professionals.
Recommended by LinkedIn
All this to say, please take the time to educate yourself on ways to truly build a sustainable lifestyle. It's easy to get caught up with what people say online but do your due diligence.
Yes, wealth means sustainability but there are levels to it and you may not see it in your lifetime. The best thing you can do here is to implement sustainability processes where you currently are in life and make sure your exit plan allows for "the next" to benefit.
Making little changes to your lifestyle can help significantly. You just need to make sure it makes sense for where you are right now.
As for the business owners, make sure you are documenting what you can! Acquisitions are going to be big from what I've seen over the past year or so, but purchasers are not going to purchase something without proof of your finances, Operational Systems, etc.
I assist with the Operation Documentation, so if that's something you need to work on, shoot me a message or check out the website.
Keep up with TLM!