Is your business a success? Riches vs. Wealth

riches vs wealth, business success, direct capital
Reading Time: 2 minutes

Everyone defines success differently. Being a business owner you might find yourself looking at the bottom line and basing your success off of your revenue. So you probably know if you are rich or not. But are you wealthy?

Do you base your success off of your riches or your wealth?

Are you confused? On the surface these two things seem interchangeable but we are here to remind you that they are not.

Your job as a small business owner is to make sure your business is a success and by doing that you have to employ the right people. Once your business is standing strong and has good revenue then you have the riches. That’s a success, correct? Well technically it is a success but at what cost? Did you have to give up all of your wealth to make this happen?

So what exactly do we mean by wealth?

When owning a business you should have two resources and one benefit:

Resource One: Money

Money is beneficial to have, but obtaining money by itself is not a good goal. People who have made a lot of money will agree that making money is not an empowering vision. Your vision should be bigger than making money.

Resource Two: Time

As a business owner you have probably asked for money, but have you asked for time? You should ask for both and relentlessly work to the business to the point where it creates both assets. Without time, money means nothing

The Benefit: Significance

As a business owner you need to decide why you are in business. It is important to know where your business is going to take you. What can you do with your business for it to be significant to you, your family, your employees, and the world around you? Shooting for the stars will help your business succeed so aim high and make sure your vision is big. With a big and important “Why” you will be motivated to design your business to provide both money and time. When both of these resources come together then you have wealth.

You need time to create significance in the world around you, as well as money. With these things you will see your business succeed in more ways than one.

Leave your footprint in the world!

If you have time but are looking to gain more money, consider your financing options with Direct Capital.