“Strive not to be a success, but rather to be of value.”
Albert Einstein
It’s a privilege to have you read these newsletters and to receive your comments and questions. I don’t take it for granted. I receive quite a few questions every week and try to respond to each of them privately. However, there are lessons I believe might be helpful to other readers, so I’ll feature a few every now and then for our collective benefit. I hope you find it helpful and continue to send in your questions and comments!
Featured question:
I know growing a business is a great legacy but what about us that do not intend to start a business. How do I build wealth, stay relevant and grow in an organization? I’d be really grateful if you can take out the time to give me some pointers.
Response:
Great question! Here are a few thoughts, and I hope they’re helpful:
- Not everyone should start a business. Not everyone desires to, and not everyone has the makeup for it. Some of us are professionals. That’s our calling and it is perfectly fine. Know your space and know peace.
- We should all aspire to build wealth, and you can do so even without owning a business. Making saving and investing a priority is crucial. Saving comes first, so you have something to invest, but saving alone won’t build wealth. You need to invest wisely. Become knowledgeable about investments and let that be your ‘side business.’ Ensure your money is working as hard (if not harder) as you are.
- Continuously add value to the organization you are in. Look for ways to contribute, help solve problems, learn, and build networks. Even if your organization doesn’t reward you (a valid fear for some), life will ultimately reward you. This can happen in another organization, through opportunities that arise outside of work, or through the knowledge and connections you gain while adding value. I learned about an opportunity and acquired my first property through a relationship at my job.
Some practical actions you can take next:
- Listen to the PLATFORM series on intrapreneurship. You will gain inspiration from the insights shared. Also, check out Rebel Intrapreneur – I was a guest on a podcast episode discussing intrapreneurship and adding value in your organization. It will be beneficial for you.
- Read two books – ‘The Psychology of Money’ and ‘The Richest Man in Babylon.’ These books will help you develop the right money mindset, and then you can explore others for specific skill sets in investing.
- Develop a long-term plan. It will focus your efforts and provide you with direction. We often overestimate what we can accomplish in a year and significantly underestimate what we can achieve in 5 or 10 years with adequate focus. I have a vision planner template available for you to use, and it’s free.
Hope this helps!