Plan and act increase to
economic clout of your business. There are three elements to building
economic clout that have been used for economic development purposes:
I suggest business owners also
increase long-term business value
. Aiming for a long-term goal helps you work through fluctuations in the economy, your industry, technology and society to an end goal.
Get started by imagining and writing down what you want the
four
elements of
economic clout to look like at the end of 2022. Create two or three key action items to aim for each goal. Getting specific descriptions of your thoughts for success out of your head and on to paper gets you closer to producing results.
It takes time and commitment of resources to build lifetime or multi-generational wealth into a business. If more businesses aim for long-term value it contributes to family and community well-being and narrowing the wealth gap.
It is satisfying to see my clients be able to retire and help their children in achieving home ownership and creating more future value. Long-term planning and action enables more owners to expand activities and fulfill greater missions.
