There are some people who start a business or take one over, with the primary goal of making as much money for themselves as possible. They see the trappings of wealth and social status as the reward for long hours and hard work, rather than finding their motivation for the purpose of the business itself. While there’s nothing wrong with wanting to become wealthy, it’s not an attitude that on its own is likely to result in long-term happiness or security.
Driven by money
There’s no doubt that to be successful in business you have to be driven. There must be something in your job that pushes you to work hard and think smart, having a vision of where you want the business to go and making the most of any opportunities that come your way. Some entrepreneurs believe their drive for personal wealth will be sufficient to motivate them to succeed, but there are dangers to this approach. If your primary concern is the income you receive from your business, then you may not make the strategic decisions that would be better for the growth and stability of the company. If you become an absent boss, always on vacation, playing golf or taking trips on your yacht, you might feel that this is what all the hard work was for. You could get away with this for quite a while, becoming dependant on the managers you have employed to keep the business going and ensure you maintain your chosen standard of living. The problem is that to truly thrive a business needs a leader, not just the paid hands who may be very good at their jobs but won’t be personally invested in maximizing the potential of the business.
Security and purpose
If one of the benefits of having money is that it takes away financial stress, don’t fall into the trap of being unable to sustain your lifestyle, or you could end up penniless. Be sensible about your wealth, and consult an expert in investments so you can make wise choices about securing your financial future. A good financial advisor will be able to suggest a range of possible investments with low-level risks, plus they can advise on how to save money by, for example, avoiding capital gains tax by investing in 1031 exchange. You should also consider how you can find the purpose in your life, whether it’s by re-igniting the passion for your business or finding a new challenge.
Money and happiness
They say money can’t buy happiness, and there is some truth in this rather simplistic statement. What money can do is ensure you have a comfortable standard of living and take away the financial pressures that cause so many people the most stress in their lives. What it can’t do is make you happy. True happiness comes from inside, and while your worldly goods might bring you pleasure, they aren’t the answer to living a joyful life. For that you need fulfillment, a sense of having achieved something worthwhile, reaching your goals and having a loving family. You could have all the money in the world, but if you’re on your third divorce and your kids all hate you, you’re not going to be having a very pleasant time.
If you can ensure your financial stability and find a more fulfilling objective in your life, you can achieve both business and personal wealth and satisfaction, and enjoy a much happier future.
