Photo by Riccardo Annandale on Unsplash
Photo by Riccardo Annandale on Unsplash
In business, there are plenty of antiquated philosophies that trap people in pursuit of success. These myths can actually promote and create a consumerist and scarcity mindset with limited outcomes.
Hard work combined with these erroneous philosophies come at a high cost; ruining health and relationships and impose upon quality of life. To make matters worse, they limit the value of the business and the long-term potential to exit for the highest multiple.
Entrepreneurs that push and struggle everyday inevitably burn out.
There is a different option.
And a better outcome, but it comes from an entirely different paradigm. It isn’t always easy to adopt, but is imperative for sustainable success. The type of success that keeps the most important aspects of life in tact without having to sacrifice the impact or money you make with your business.
Here are 3 components critical to create wealth, depth and harmony in your life and business.
Depth is about being present while harmony is about being intentional about your life, determining what success means to you and then living a life by design.
Do What Matters Most
It has been said in numerous business texts that the purpose of business is to make a profit. I see that as the business’s responsibility, but if your only reason for building your business is to make money, then you may not be creating a vision to dive substantial value. Continual, life-long motivation comes from creating something compelling enough you are willing to deal with minutia and be resilient enough to continue when things aren’t going according to plan.
It’s not easy.
We are surrounded by people who tell us that we should get certain jobs or go into particular fields of work. This is often based on the idea that it’s “safe” or that good money is involved in it. Though it may be well intentioned, it is putting you in the seat of the consumer instead of the producer and as a result you will have less control and opportunity.
The moral is, don’t circumvent vision because of fear, lack of time or doing what you think others expect of you. Use your why and your purpose to advance what you can accomplish and realize others can support you along the way if you are bold enough.
Stop Playing To Win
We hear “play to win” a lot in life and it’s normally put in a good light. But this is an ideology that can become a trap.
When you play to win, you are only focused on the future, rarely able to enjoy the present. It’s always about more, bigger and better. With this mindset, people feel they have to prove to the world that they are making enough money, getting enough recognition or whatever external factor they feel proves to others they are worthy of love, respect or some type of notoriety.
If you feel you need to play to win, then it may help to stop and take a self-assessment.
- What is your vision?
- What is your end goal?
- Are you trying to fill an empty part of your life with money or societal success?
- Are you carrying pain because of what others thought of you at one point in time?
- What self-limiting beliefs are you holding on to?
Money and societal success are not the same as success. The former never values family or meaningful relationships to a higher degree. Instead it is all about how much you can accumulate, what size of house you have, what kind of car you drive and how much you are envied by other people. In other words, it is a consumerist mindset. It may drive you to make some money, but easily clouds a more substantial vision of value creation; the type of value creation that truly impacts others and goes beyond what you can do alone.
If the game is about more, bigger, and better, than it’s an unwinnable game. There will always be someone with more money and success.
Create a game worth winning.
One where you can enjoy the journey and the space in between.
Again, if the responsibility of a business is to create profit, what is the purpose of the business?
How about, “the first rule of business is to create value” and the profit is a byproduct of that.
Business is just a medium to serve others, solve problems and deliver value. If you can create something truly valuable to people, or add value to a current product or service, then you will enhance the lives of your customers and the money will just come as a natural byproduct.
Look for ways you can add value in your business. This is the only surefire sustainable business plan that will give you the edge to outlast whatever may happen to the economy. If you can offer something of value, not only will you always have a customer, but you will have added something good to the world, instead of taking things from it.