Our nation has bought into a new way of thinking regarding business. We have strayed away from the business principles that were followed when our nation was founded. These new principles do not create the potential for generational wealth.
The Wrong Way:
We’ve been taught to send our children off to college to learn to do something that no one in the family has ever done, to be taught by people who don’t love them, then go and work in a corporation for someone who doesn’t love them. In fact, most managers do not want you to become more successful than they are, so they are not willing to teach you everything they know. When we spend so much time learning a new skill set and working for someone else, we have very little to show for a lifetime of work.
The Wealth Building Way:
This country was founded on family businesses. We should save enough to start a family business, then we can begin to teach our children the skill sets that we learned. They will have their own bright ideas to combine with our original ideas. They will then teach those to the third generation, and each new generation can combine their talents and ideas to create a successful business with a competitive edge. That is what will create the potential for generational wealth.
We should not blindly follow what society now accepts as normal. We need to use a tried and true format that has the potential to create generational wealth for our families.
