Master Coach David Ford asks; “Are you the business owner who knows how to build your wealth, or are you the business owner who knows how to make other people wealthy?”
Who has all the money?
If you listen to anyone commenting on, questioning or discussing the distribution of wealth in our country, in many cases the conversation ends with the conclusion that too few people have too much money leaving many others with very little money. I’ve also heard recommendations that if the top 10% of the richest people in our country gave 1% of their wealth in a onetime additional tax, then we would be able to eliminate our debt, fix the budget deficit and everything will be rosy.
You see, it is the decisions and actions made by our government, Democratic and Republican – this is not a political argument, that has lead us to the financial situation that we and our country face today. So even if we were to generate the funds necessary to pay off all our debt – by printing money, by a 1% onetime tax on our Nation’s wealthiest people, by a tax rate increase on any or all American’s – this might create temporary relief, however it does not solve the problem.
Because the same people with the same mindset will continue to make the same decisions and take the same actions that will put us in exactly the same situation again in the not too distant future.
Who has all the Business Money?
The same principle applies to making money in your business. It is the decisions and actions that you, as a small business owner here in Minnesota, have made to this point that has led you to the financial situation that you are currently facing in your small business. So, even if you were to achieve a temporary solution and receive a windfall of cash to pay off your debt, it’s likely that you will continue to make similar decisions and take similar actions and create the same situation again in the future.
I’m sure that many of you reading this disagree and think that things will be different if you could just find the money to ____________ (you fill in the blank), then I could grow my business, improve my team, increase revenue, increase profits. I read this comment recently, “If some authoritative power distributed all the money in the world equally among all the people in the world, within ten years time 97% of all of the money would be under the control of 3% of the people”… Becoming Your Own Banker, R. Nelson Nash.
It’s easy to blame the economy, the banks, your team or your customers for your inability to make money. However, successful business owners and the world’s wealthiest people know how to make money in any economic environment. Even if you took away all their wealth today, the decisions they make and the actions they take to make money will make them wealthy again in the not too distant future. And, many of those are business owners who have received training and advice from business professionals and businesses coaches.
So, are you the business owner who knows how to build you wealth, or are you the business owner who knows how to make other people wealthy? We at ActionCOACH Metro North can teach you to be the small business owner that builds wealth.by