Is Your Business Creating True Wealth For You?

"You want to know what the best part about startups is?"

"What?"

"You only ever experience two emotions: Euphoria and terror. I find that lack of sleep enhances them both."

This was a conversation between Marc Andreesen and Ben Horowitz in Horowitz's book, "The Hard Thing About Hard Things," when they were leading Loudcloud during the depths of the bursting tech bubble. Since, the two have teamed up on a number of ventures and currently manage the wildly successful venture capital firm of Andreesen-Horowitz.

While this is an excellent bit of gallows humor between the two, it doesn't miss the mark by too much on the rollercoaster that is entrepreneurial ownership. The classic joke about entrepreneurs is they would rather work 80 hours for themselves than 40 hours for someone else. But it's not just the hours; it's the mental strain, too.

So, why do we do it?

The opportunity to take on the world on our terms, to innovate, build a better mousetrap? 

Probably a resounding yes for all of us.

The opportunity to design our ideal life, control where and when we work, adjust our life balance as life changes?

Again, probably a big yes. 

How about building wealth, having control over our earning potential, building something with an enterprise value that will outlast us all? 

Absolutely!

So, are we getting those things, or are we instead stuck on the emotional rollercoaster and lacking in some or all of those areas?

Entrepreneurship is about all of the above, but what we all desperately want is to live a life of true wealth. I define this kind of richness by the ability to design our lives around our values.

For most this means:

• Having time to spend with those who matter most to us.
• Doing something with our time that is worth doing.
• Having enough income and capital to allow us to do the things we want.
• Having the physical and mental energy to maintain our health.

Sounds simple, right?

It really is, and the great part is all the pieces that create our version of those four elements are entirely different for each of us. For some, it might be to own a yoga studio that helps seniors remain mobile, traveling one week a month and spending time with kids. For someone else, it might be managing a specialty corporate litigation practice, leaving the office each day by 4 p.m., and competing in the Ironman circuit. Both of these people could be living their version of a life of true wealth.

If you are not living a life of true wealth, how do you even go about starting the process to change? 

It begins by looking at each of those four elements: Time, value in our work, money and health.

Once you have an outline of what a life of wealth looks like for you, it is time to develop strategies on how to incrementally move there in each area as well as a date of when you want to be there by. Start with these goals and get your mind wrapped around the idea that all of this is possible. 

We all work too hard to be governed by the rollercoaster of euphoria and terror; true wealth is achievable and we can all get there.

THIS CONTENT IS INTENDED FOR GENERAL INFORMATIONAL PURPOSES AND DOES NOT CONSTITUTE A RECOMMENDATION OF ANY TYPE.
PLEASE SEEK ADVICE FROM YOUR TAX, LEGAL, AND FINANCIAL PROFESSIONAL PRIOR TO TAKING ACTION.
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Jarrod Musick is the CEO and president of Destiny Capital where he leads a talented team committed to serving clients. Musick loves the challenge of helping clients navigate a rapidly changing financial landscape. When he isn't here, you can find him chasing his twins.