What's Your Entrepreneurial Legacy?

My colleagues and I at Cultivate Advisors have worked with 1000's of business owners across North America over the past 8 years.  And even though they come from well over 100 different industries, I’ve found that there is a common thread to what makes successful entrepreneurs, well... successful.

What's Your Entrepreneurial Legacy?

If I’m really generous, I’d say that less than half of what makes you successful as a business owner is tied to the industry specific technical knowledge required to deliver your product or service. 

In fact, being good at your job is the baseline requirement for being in business.  This all by itself won’t make you successful.

The real secret sauce are the entrepreneurial skill sets and mindsets that you’ve developed and honed over the years that are the foundation to all of your success in life - not just in your business. 

Think about things like:

• -->work ethic,

• -->leadership,

• -->creative problem solving,

• -->effective communication skills,

• -->team building,

• -->seeing the world through a value creation lens,

• -->seeing and acting on the potential in others,

• -->inspiring your team to be more and to do more so they can make a bigger impact in both their lives and your company.

These skill sets and mindsets are applicable across all areas of life.  And, if you have kids, making sure you pass this knowledge onto them may be way more important to their personal & financial future than if they decide to come into the family business or inherit all of your wealth.

The key is to give your family what they need to build upon your success so they never have to rely upon it for a meal ticket.

How do you know if you’ve instilled your secret sauce into the people that matter to you?  Ask yourself these 2 questions:

1) If I lost it all today, could I rebuild success in my life tomorrow?

2) If I lost it all today & died tomorrow, could my family rebuild the success I started?

If the answer to #1 is yes, you have some great skill sets and mindsets to share.  Start capturing and sharing now, even if you don’t feel ready.

If the answer to #2 is no, make it a point to start systematically capturing and sharing your secret sauce with the people who matter most in your life.

What Makes Successful People....well, Successful?

I’m sure you could add to the list below if you took a minute to think about it.  You might define things slightly differently, but I’ve found the following to be common beliefs among the most successful people.

I call these The Entrepreneurial Be-Attitudes

• -->Be responsible for where you are without guilt, shame or excuses

• -->Be clear about what you really want

• -->Believe that you’re worth it and it is possible

• -->Be willing to get help, create a plan and track progress

• -->Be addicted to the work - not the result

• -->Be willing to share your “secret sauce” before you think you’re ready

• -->Be all in regardless of thoughts, feelings, emotions or mood

You’ll notice that The Entrepreneurial Be-Attitudes stack up in ascending order.  In other words, you can’t have #2 before you have #1 internalized and so on.

Said differently,

1. Accept where you are

2. Get clear on what you want

3. Imposter syndrome is real - just not true

4. Slow down to speed up with a plan, a team and accountability to results

5. Get excited about the little things - done consistently, they'll lead to the big things

6. Notice what’s working.  Get it out of your head and into the hands of others who can build on it and make it better.

7. It's a lot easier to show up and do the work If you’ve done the first 6 things on this list.

Success hides behind hard work, emotional discomfort and truth.  If you’re not willing to face these things, any success will likely be shallow, uninspired and short lived.

What’s your secret to success?  How are you sharing it with your team and family to create what you want in life?

Share and comment below.  I’d love to upgrade this list with the collective wisdom of the community.