Tag Archive for: Assets

The Illusion Of Money

money and wealth

Most people think that wealth is only a matter of money; they overlook other resources.

Money is just part of wealth. We like it because it is an objective measurement, making it easy to draw conclusions and evaluate alternatives. The most valuable resource we have is our time, not our money. It is the only limiting factor, and we never know when it will cease to exist.

Money is an illusion.

We may think we like money, but what we really like is what we can do with money. Intuitively, we prefer to think more about wealth than about money, because we know that wealth is a far wider concept. Money is a way of keeping score, mainly because we live in a society where money has become an objective measurement. Rich people have a lot of money; wealthy people have a positive flow of resources. The real measure of wealth is the flow of resources. When we think about resources instead of money we create and discover new opportunities. It is what we expect to do with money that empowers us to have more.

There are many hidden costs and benefits that can help us balance the flow of resources in a way that works best for us. When we realize that our circumstances play a role in our wealth, we begin to look at money in a more practical way. When we limit our thoughts to money alone, we fail to see how we can creatively use the other resources we might have available, such as friendships, time, knowledge, and other assets.

The vaccine to measuring wealth with money is to value our joyful time. Wealthy people don’t have more money. They have enough because they don’t feel the need to have more. Our most limiting factor in life is time, not wealth. When we learn to balance our lives in ways that give us time to enjoy, to learn, to help others, we are wealthy. When we realize that we can have a great time without spending money, money becomes secondary to happiness. When we become aware that we are needed and set aside time to volunteer for a cause that is meaningful to us, we realize how wealthy we really are.

Wealthy people don’t “need” money; instead they attract it. It’s not that they want to be poor or think that living with less money is spiritual in any way.

Wealthy people have broken the ties between success and money and wealth and money. Success is being able to do what you are absolutely passionate about doing; being wealthy is having more resources than you need because you created them.

Assets don’t measure wealth; value does.

After years of helping CEOs and investors, Alicia Castillo Holley realized that invisible barriers were preventing successful people from becoming wealthy. Her “Ten Unwealthy Habits” became an instant hit on the revolutionary site “Change This”. Now available on amazon. Bulk purchases and more info at http://www.thetenunwealthyhabits.com

Proven Business Relationship Agreement – Part 4

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Proven Business Relationship Agreement

Last 5 Agreements – Part 4

DC Cordova

You made it! Here are the final five business relationship agreements in the 4 Part Series (twenty total business agreements) for creating profitable partnerships. You can read Proven Business Relationship Agreement – Part 1 if you haven’t already done so to get you started right. Proven Business Relationship Agreement – Part 3 was my last post and I’m glad to receive e-mails from some of you with the distinctions you’ve learned. Keep the feedback coming. I like to know what is working for you.

Here’s agreements 16 – 20 for your complete Business Relationship Agreement to use in your current and future partnerships! Enjoy…

16. Prepare for the worst – expect the best

___ We have talked about the worst thing that could happen in the business relationship.

___ We have a plan for a buy-out (exit) clause, or a clause on how to handle the dissolution of the business, including who keeps the rights to the idea of the business and how the assets are divided?

___ We have thought of every possible scenario including how to define “successful performance” and how to quantify or measure the results we expect. (We know that not doing this could cost us not only the partnership but also the business!)

___ We have made contingency plans that will keep our business operating, should unforeseen events in either partner’s life come up.

17. Ethics

___We have an agreement that covers any contingency should one of the partners become involved in any immoral or illegal activity.

___We agree that if so, they automatically default their partnership to the other person.

18. Legal Advice

___ We have identified a conflict resolution-oriented attorney to review our agreements and discuss it as a group.

___ We have included arbitration clauses, so that any disagreement does not have to end up in court.

___ We have agreed to work toward a resolution, rather than get involved in a lawsuit.

___ We have worked through and made clear agreements and have created our own version of the Rules of the Game to apply to the business partnership.

19. Financial Advice

___ We agree to meet at least annually to review our business with a professional tax accountant.

___ We will look into our best plan for wills, living trusts, and estate planning.

20. CELEBRATE! –

___ And finally, we will celebrate our wins together – little ones and big ones – on a regular basis. We know that one of the values of having partners is that we have someone with whom to celebrate our wins! And we look forward to having our business become more and more profitable so that our biggest problems become figuring out how to handle and leverage our money!

Signed this date: ___________________________

____________________________
Partner

____________________________
Partner

You can print these agreements and DO USE THEM! I want you to have fulfilling, profitable and fun businesses that make a difference in the world. As another tool to use in growing your business, make sure you pick up Your Personal Entrepreneurial Strategy – and continue your journey of success.

With loving thoughts,

DC Cordova
CEO, Excellerated Business Schools® and the Money & You® Program

Creative Commons License photo credit: B Rosen