The other day I was talking with my wife Claire about the secret of the rich; that the amount they are worth is disproportionate to the amount they earn. Think about, if you have a small business with a small team making $250K profit per annum, then you probably have a business worth a multiple of 1-2x so you’re worth between $250K and $500K.
If you invest in the business and increase the profits to $2M per annum over a three year period, then depending on your industry that business is now probably worth a multiple of 4-7x, so you’re now worth between $8M to $14M.
So what you’re worth is far more than what you’ve made.
If you just focus on what you’re dropping out the bottom right now then you are in danger of missing the real value that your business can be worth in the future.
That’s why the rich get richer disproportionately; they focus on longer-term value not just shorter term wins.
Or do you want to be right?
Recently I was in a meeting with my management team.
One isn’t better than the other.
We all have different personas; the child, the warrior, the sage etc.
Is a feeling.
Entrepreneurs and doctors are similar in many ways.
Recently, I had an experience that led to a decision that on the outside might have seemed rapid and reckless.
Recently I met someone who inspired me to my very core; where they’ve come from, what they believe in, what they are doing, who they are, the integrity and courage they live with, the way they are living, the choices they are making, the trust they choose to live with…
They say the man who is going to live to 150 has already been born.