If you’re planning to build a business, would you rather be famous or rich?
As a business owner, this is a fundamental decision you’ll need to make.
By fame, we are not talking about movie star status and signing autographs. Instead, we’re talking about the type of fame that occurs when you become the ‘celebrity’ of your company or your field.
This is something that happens naturally, over the course of building your business. Perhaps you enjoy leading the big projects, or you love the feeling of solving a vexing issue for a customer. While these are personally rewarding, your “fame” arises because people start turning to you more frequently.
Knowing you are the best in your field, customers want to deal with you.
Industry peers are interested in your thought leadership & projects teams look to you to lead them to success.
The problem with this kind of fame is that it creates a business & ecosystem of people that rely on you. And what notably happens is that you start to feel trapped.
You can’t take time off.
You feel obligated to keep pushing on.
You’ve essentially lost your freedom.
If you continue down this path, you’ll stumble across the next major issue…
You’ve got a business that has no value.
Why? Because all the value lies in the owner – the person. If that owner departs, the business crumbles.
So What’s the Alternative?
John Warrilow, author of bestsellers, Built to Sell: Creating a Business That Can Thrive Without You, The Automatic Customer, and most recently The Art of Selling Your Business talks about another ‘breed’ of business owners.
He refers to them as ‘Value Builders’.
These people primarily focus on building wealth through owning a company. Their focus is building a valuable company, regardless of whether people know their name.
Naturally, most people will take the path of fame rather than wealth. They are not conceited, it’s just how businesses evolve, with the owner at the helm.
John suggests that if your goal is to build wealth through owning a company, you need to take proactive steps to fight these natural forces that shift you away from building a valuable business.
Having worked with John for a number of years, we’re really aligned in the way we think about helping entrepreneurs. He recently offered to share one of his self-published books which we’re proud to make available to you as a member of the Exit Advisory Insider Group.
Find out exactly what successful Value Builder entrepreneurs do to build company value and set themselves apart.
We’re thrilled to share this eBook, Famous or Rich, with you!
You’ll be introduced to 9 business owners who have achieved life-changing success by building and exiting their businesses.
Find out what differentiates their thinking and the strategies they employed to get results.
It’s the inside word that will make you question FAME vs WEALTH as a business owner – in a way you may not have considered before.
Take a look…
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