3% of all business owners make 84% of all private biz income. Why? They’re not covering for unknown weaknesseses.
3% of all business owners make 84% of all private biz income. Why? They’re not covering for unknown weaknesseses.
This article was published on November 14, 2009. So far, 5 people have left their thoughts. Share your own thoughts.
To build a business that provides you the lifestyle you want, you need a vision that motivates you. And guess what? Making money is not an empowering vision. I know plenty of people who’ve tried it including me.
My friend Eddie Drescher has a client who told him, “After $150,000, it didn’t make me any happier to be making $500,000.” Some people push the numbers up or down, but you get the point—money never makes life more meaningful.
I made healthy six-figure incomes for years before I started The Crankset Group. One day a few years ago, while in one of those jobs, Diane, my much better half, came to me and said, “I don’t know how you keep going, because I can’t take this job any more and I’m not even the one doing it.” She was responding to the listlessness, the lack of power and meaning that comes from just making money.
She helped me identify that I hadn’t made any connection between the money I was making and what I could do with it to build a life of success and significance for myself, let alone for anyone else. It was as if making money was an objective that lived on its own and had no way of influencing what went on in the rest of my life beyond buying shiny objects.
But I knew intuitively that there is a deep connection between my work, the fruit of that labor, and how I could use that work to create a life of success and significance. It was the turning point that led to starting The Crankset Group. I make a great living now, too, but with better reasons than just making dough. I get out of bed easier and with more purpose.
A successful business owner eventually figures this out. Making money is not an empowering vision; neither is being trapped as an employee of yourself something you can call a lifestyle. Either way, if you want to be successful you’re going to need to figure out how to build a business that makes money while you’re on vacation, while you’re also trying to make money.
The successful business owners make sure they make money today, but they make sure they are building their future at the same time. And building your future almost never makes you money today:
None of these things make you money today. All they do is help you build a business you can enjoy for decades. If you’re focused on making money, you won’t get there. If you’re focused on building a business that makes money while you’re on vacation, you’ve got a much more empowering vision.
Are you working to make money or to build a business you can use to create significance for yourself and the community around you?
You’re too busy making money; no business can survive that. Your business should give you both time and money. Not just money.
I started Crankset Group out of a desire to help small businesses in the Denver, Colorado area grow and mature. It continues to mature itself as we bring a lot of the tools and practices that I’ve created working one-on-one with business owners over the years online. Now these tools and resources are available to you.
Twitter is a great way to get ahold of me or interact with me.
I’d love to let you know what I’m up to from time-to-time.
Add Your Own
Thoughts
Jeff Brown
11/17/09
Chuck, great info as always. I see your point on having the right kind of vision. My vision is simply to help as many people as I can before I die. You can’t take money with you. But you sure can leave a great legacy when you have helped others.
Thanks Chuck for the great words of wisdom.
Pamela Miles
11/18/09
So true. We chase money in hopes it will bring us happiness. Happiness is a feeling place, not a possession.
Lizette Pirtle
11/18/09
In my experience many people say that they are motivated by money while in reality they are just taking the easy way out.
You are absolutely correct! Money is not an empowering motivation instead the lifestyle that money brings and what that means to the person; in other words, what it will allow them to do, is what’s really important.
Great post!
Chuck
11/18/09
Jeff – thanks for your statement – you can’t take it with you, but you sure can leave a great legacy. The money won’t last, but your impact will!
Pamela – I truly believe possessions exist to serve our ability to create significance in the world around us.
Lizette – so true! Money in the bank doesn’t do anything for us – it’s what we use it for that changes us. Thanks!
Pam Moore
12/19/09
Chuck – very well said. Trying to build our business on this exact foundation.
Looking fwd to reconnecting with you!
Thx
Pam
Chuck
12/22/09
Thanks, Pam. I expect that you’re doing great building your biz down there. Let’s do stay connected. Look me up when you’re in Denver I I’ll do the same as I find excuses to come to Florida!
Best,
C