Legacy – understanding the wisdom

Legacy, your thoughts? Legacy means different things to different people. What do you envision your own personal legacy will look like? From a business perspective, you don’t have to be rich, just firmly committed to something larger than yourself. Those who have the tenacity to follow through on goals and plans, year after year, they command a different determination and unstoppable courageous attitude.

Purpose driven, legacy builders.

Legacy builders are always searching and discovering new concepts and ideas, and putting them into action. Generally that action requires followers, employees, family and friends. It’s not the size or the scope of your business that matters, its more about the entity itself. You named your business after all, so you gave it life. Passing it on seems natural, yet internally there is still a bit of competitiveness. That is the edge, even in tight family circles.

A legacy can be very personal. It can even be spiritual in nature. As a founder or owner, it’s something that has become part of you. It defines the path you choose to take in life. Exiting or potential growth are big occasions in a business, they can be life changing events.

Self-reflection or self-examination can occur simultaneously with ones future ideological planning. What legacy do you see for your business? Can your business with stand change, after you are gone? How long? Five, ten or more years? How do you want others to remember you, and can you help them take control of your “baby”, your business? How do pick a new set of decision makers? Are there generational concerns?

How do pick a new set of decision makers?

Wisdoms vs. Understanding.

What is the wisdom behind leaving a legacy? It is Understanding. With all the knowledge you will gain along your professional journey, understanding and the voice of reason is the real pay check. You can count your profits and value all day long, but upon self-reflection you stand to gain more personal insight into humanity and the purpose driven life you’ve been gifted. Understanding the value and personal experiences of others, plus the positive impact your business has within a community is invaluable.

“What is the wisdom behind  leaving a legacy? It is Understanding. With all the knowledge you will gain in your professional journey, understanding, and the voice of reason is the real pay check”.

Some may have heard the term, the three legged stool – business, financial and personnel. In legacy planning you do have to consider those. But to a founder or owner, legacy is often more than that. Its the personal connection you have with others, the community in which you may have helped nurture and support throughout the years, and your own Integrated and personal business legacy.

Resilience is also key

Define Your Vision and Mission, and build into them your legacy for the future. Empower others, and build trust with your stakeholders. Work on key relationship, and hold firm to the belief that to build a powerful brand, one that communicates your values to all, you need tenacity, determination and a unstoppable courageous attitude. Take one step, now take two – that is the path.

Take one step, now take two – that is the path.

If you are planning on exiting and/or are experiencing growth potential, here are a few questions to ask yourself about legacy.

What are your short and long term goals?

What would you like to be remembered for?

What would you like your business to be remembered for?

What relationships have both you and your business been able to cultivate?

Thinking about legacy isn’t always simple. Generational questions come to mind, and can leave owners and founders with even more questions. Take a step, now take two. That is the path.