Guest Post by: Tumi Frazier, founder of Tumi Frazier International
Over the years I have asked different entrepreneurs about the reasons they had for starting their businesses - their answers have ranged from wanting to work for themselves; adding value to clients; identifying a need and fulfilling it; creating a demand for a product or service in line with changes in the market place; and to create wealth.
‘You want to set a goal that is big enough that in the process of achieving it you become someone worth becoming” – Jim Rohn.
But what is wealth?
Contrary to what some of us may believe, wealth is much more than simply money or an abundance of possessions. In fact, various concepts and definitions of wealth have been put forward by different authors and in different contexts over the years. The one that I particularly find thought provoking is the one that says: “wealth is what remains when you lose all your money”.
Wealth is what remains when you lose all your money
This to me means that wealth is so much more than just money, and therefore our primary purpose and motivating factor for starting businesses should not be money.
If you want to achieve great financial success, chasing money is not the answer - rather, it is more about becoming the kind of a person you need to become in order to attract and earn that money, and most importantly keep it.
It is about fulfilling your purpose and passion, providing quality products and services in an honest manner to your customers. It is about creating a healthy and empowering environment for your team, and the contribution you make to address the social challenges in your nation.
Always remember that customers and investors support the person behind the business. They look for specific qualities in your character before they can entrust you with their money or businesses, no matter how good your idea is. In essence, a business is a reflection of the character of its leader.
In his book, Wealth, is it worth it?, S. Truett Cathy states: “If you get wealth before you learn how to use it, it can be a burden on you more than a blessing. But if you learn how to use it and learn how not to be fooled by it, wealth can be a very big blessing”.
It is critical that we develop the character necessary to handle financial success – otherwise, it can destroy us. This is one of the reasons many lottery winners experience such short-lived financial success.
Character is determined by the decisions and choices we make every day – whether to bend the truth a little, or inflate the price, to accept the bribe, or pay the price. If we do what is right, then money comes automatically.
Success of any kind is really not success if it does not bring out the best in us as people, or if we do not add value in our society.
Tumi Frazier is a South African entrepreneur, professional speaker, author, TV personality, consultant, and founder of Tumi Frazier International, Tumi Leadership Academy, and Tumi Foundation. Tumi is an internationally acclaimed Leadership and Change Management expert who has worked with high profile clients and organizations across Africa, United States and Europe. Tumi has authored 4 books: Courageous Stories of Inspiration; In the Midst of the Storm; Stepping Stones to Success; and Your Moment. Follow Tumi Twitter | LinkedIn