Create a Company Wealth Map - WomenEntrepreneur.com

Your business must do more than make money; it should increase in value and lead you to financial independence.

Many people start their business with a business plan, perhaps for the purpose of getting initial funding from financial institutions or investors. But those plans are designed for lenders, not for business owners. They don't tell business owners how to create value within their business for themselves.

I conducted a "why are you in business?" poll for my book, Show Me the Money. About two-thirds of respondents said they are in business because they want to make more money and become financially independent. But a business plan really doesn't address this. Many business owners do create a lifestyle for themselves from their business. But few double or even quintuple the value of their business. That's because most don't have that big picture or road map to guide them.

A "company wealth map" is a road map to guide you in terms of creating wealth or value for you from your business. In layman's terms, it's how you visualize your ultimate financial independence. Granted, every one of us has a different definition of financial independence. The company wealth map is the big picture showing you how your business can work for you.

"I am so good at seeing the big picture, visualizing the future--doing everything toward how the end product looks," says Kelly Gaines, the owner of Charlotte Aquatics. Unlike most business owners, Gaines intuitively knows what her big picture is, writes down all of her goals and monitors them on a regular basis. She has that mental picture of her company wealth map.

Many business owners wait until they hit a wall or get stuck before they do something. >> View Full Post at WomenEntrepreneur.com

Create a Company Wealth Map - WomenEntrepreneur.com