Merry Christmas and Happy Holidays from all of us here at Spinstak Growth Agency! We hope you are enjoying this holiday season with your loved ones. We created this video and guide about the 5 Pillars of Legacy that will help you engineer the life you want in 2019 and beyond.
What is Legacy and Why Does it Matter?
We hear that word thrown around a lot: legacy. But do we really understand what it means? I think for most us, it means being remembered after we are gone, or perhaps it's the idea of passing something on to the next generation.
Here's Webster's definition:
1: a gift by will especially of money or other personal property: She left us a legacy of a million dollars.
It's understandable for people to think that when I use the word legacy in the context of marketing or business strategy, I mean money. After all, isn't that what makes the world go 'round?
Money certainly is important. Sales are critical. After all, there is no business unless there is a sale. But that's not at all what I mean when I use the word legacy. Not even close.
What are we living for? What is our mission? ... What is our WHY... as in, "why do we do what we do?" What's it all about? Have you given this much thought?
Ebeneezer Scrooge, now is your chance to turn back. If you only care about making money, do not keep reading...
Five Pillars of Legacy: Faith, Family, Friends, Fitness, and Finance
My contention is that our legacy is more than the wealth and investments we pass down to our family. It's much bigger than that.
It's a life well lived.
Family and friends well loved.
To put it in another (easier to remember) way, a true legacy is an inheritance of the following core pillars: faith, family, friends, fitness, and finance. If you're still with me, let's go through each of these 5 Pillars of Legacy so we can start planning to make 2019 a break-through year for ourselves and our business!
1. Faith in God, Not Yourself
This is highly controversial and may cost me. But that's the point, isn't it? If your faith is of any substance, it must cost you something. One of my favorite historical theologians, Martin Luther, once said,
A religion that gives nothing, costs nothing, and suffers nothing, is worth nothing.
The reason why many of us do not talk about our faith is because we are not living by our faith. There is a disconnect between what we confess we believe and the practical application of those beliefs. Nobody wants to be a hypocrite.
There comes a time in every industrial entrepreneur's life when he or she needs to think about what's really important. Nothing is more important than caring for your soul. It's the very foundation for our life. Our soul (or heart) is the wellspring of life (Proverbs 4:23). From this spring comes physical, emotional, relational, and entrepreneurial vitality. If you disregard this part of your life, you will be bound to stagnate or crumble in other areas.
Just don't become a religious jerk, because they are far worse than irreligious jerks.
2. Family is Your Business
Industrial entrepreneurs are some of the hardest working individuals I have ever met. It is routine to see them put in 60+ hour work weeks. Sometimes, we are never really "off the clock" and so you could say our work week is more like 168 hours (24-7-365). I would question whether this is sustainable, helpful, or healthy.
We need to be reminded WHY we are working so hard. What does it profit us to build a successful industrial supply business only to bankrupt our marriage or default on time spent with children and/or grandchildren?
Time is money, but not all time is equal. Some time really is priceless. You cannot assign a monetary value to hours spent communicating to your daughter that she is beautiful and worthy of your attention or time spent attending your son's ballgame and praising him in the good times and the bad. These are the moments of your life that will make all the hard work count for something.
Block out time on your calendar each week for your family and your spouse. Do this first and schedule your business around what matters most.
3. No Man is a Failure Who Has Friends
How are your relationships with neighbors, colleagues, business partners, and clients? How much energy do you put into building and nurturing these relationships?
Some of us struggle with meaningful friendships because we are type-a, "Lions and Lone Wolves". We don't spend enough time small-talking or shooting the breeze with the people around us because we are so focused on our internal goals and desires. Most entrepreneurs are like this. It doesn't mean we don't care about people or desire deeper relationships.
If you are like me in this regard, we need to slow down and remember to connect with our employees, clients, neighbors, and friends. Sometimes it's okay to "waste some time talking about the game or the weather".
Some of us have the opposite problem. You put far too much of an emphasis on people's feelings and spend too much time nurturing relationships at the expense of the other pillars in your i.e., faith, family, fitness, or finance. These "Social Butterflies" are the life of the party and they treat everyone like a best friend.
The only problem with this is that industrial entrepreneurs have to make hard decisions from time to time. If friendships are your highest priority, you will be prone to make bad business decisions.
Find the friendship balance that works for you and stick to your priorities, especially when the choice is hard.
4. Fitness and Living a Long Time
Everybody wants to go to heaven, but nobody wants to die. If you're like me, you will hear a story about someone your age who was diagnosed with cancer or suffered a heart attack and it will shake you out of your stupor and cause you to think, "geez, that could be me". These moments are good because as the ancient Greek philosophers would say, "memento mori" or "remember that you will die". The question is not if, but rather how and when. So it makes sense to do our best not to speedup the natural process.
First of all, we should approach our physical fitness and health with a level of humility. Everyone knows someone who was perfectly fit experience suffering, contract a disease, and even pass away without warning. No amount of spinach and cross-fit are going to save you if it's your time. That said, we must choose to live as if we are going to inhabit our bodies for 80 or 90 years.
This means a healthy diet, plenty of sleep, and regular exercise. Everyone knows that this is the key to health. No fad diets, no magic pills, and no extreme fitness routines. What we need is self-control. This is harder than ever today because everything crave-able is within our grasp - and cheap!
I'm not perfect at this, and I'm guessing you aren't either. But we can make small choices everyday to eat whole, organic foods, get to bed on time, and move our bodies outside.
5. Financial Freedom is Possible with Profit
Money cannot buy happiness, but it sure makes life easier. Let's be honest for a minute, what is wrong with our friend, Ebeneezer Scrooge? Is that he has wealth? Or is that he is not generous with his wealth? So many in our society today are basically made to feel apologetic about making money. Profit has become a dirty word!
I had the privilege of observing business owners all my life. By the way, I am keenly aware that my position as a white male has given me opportunities that others simply do not have. It is unbelievably humbling. I have watched others work hard to build a legacy by giving back to their community, providing gainful employment, and taking care of their family. Do you know HOW they were able to make such and impact on so many lives? One word. Profit.
It's not the money you gained that is your legacy, it is how you used it. As industrial entrepreneur, we should not be embarrassed to talk about profits with our team and our family. They should understand the impact profit makes on them and countless others. This can only happen if we teach it and develop processes to achieve it. But that cannot happen if we do not understand it ourselves.
We should center our business on profit first, which makes serving clients, paying employees, providing for our families, and giving back to our community possible.
Don't Forget to Have Some Fun (the 6th Pillar)
If the five pillars of legacy are the ingredients in a life well-lived, then fun is the seasoning. What is life without fun, laughter, and great memories? As you think about each of these pillars, frame them with fun. In other words, how can you make your faith, family time, friendships, fitness, and finances FUN? If these pillars are fun, you will enjoy working on them, and if you work on them, I can promise you that you will indeed build a legacy that stands the test of time!
Happy Holidays and Happy New Year!
Let us know what pillars you're going to focus on in 2019 in the comments below.