Building A Legacy Part 2

The following is an excerpt from the book Smart Business, Stupid Business, written by Diane Kennedy of US TaxAid and Megan Hughes of Smart Business Incorporation.

Strategy #2: Earmark a portion of your profit to support causes that speak to your heart.

There will come a time when your business gets through the learning curves, and as long as you’re watching your expenses and systems, you’ll start creating a big cash flow.

This is the critical point: now what do you do with the money? Too often, people just go nuts with money, buying cars, and a fast life. Hey, we like cars too! But when having new shiny toys is the only focus for your business, it seldom fulfills in the long run.

If you set up to give a portion of the proceeds to a cause you care about, you’ve build a heart right into your business. And that will help you make contacts to grow your business and open doors you never thought possible.

If you chase money, you seldom find what you really want. If you instead look to enrich others, you will have wealth beyond belief.

When do you start with the giving plan? How about right now? Build the giving from the start and it will help your business focus and create more opportunity right when you need it.

We often overestimate what we can get done in a year, and underestimate what we can do in 20 years. Take the first step, however small today. You may be surprised where it leads you.

Rally your clients, vendors, employees, independent contractors, or anyone associated with your business to give part of their time and most importantly, their talents, to causes you support.

This third strategy actually combines the first two. You will empower the people you work with and benefit a charity at the same time. When you combine the heart of a cause with the money sense of a business you have an unstoppable combination.

If you enjoyed today’s blog, why not pick up your copy of Smart Business, Stupid Business today. Buy through our website, and you’ll also get a free instant audio download of the entire book!