From Self-Interest to Shared Vision: The Monumental Leadership Shift
The biggest difference between greedy and visionaries is their motivation
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Introduction
Technically, the convenience store at a walking distance from your home and the biggest company in your country are both a “business”.
However, how is it that most businesses end in a lifetime or maybe a few lifetimes, while a very few businesses leave a legacy. In fact, the right way to explain these businesses is that they become a legacy in their own right, in their industry.
Let’s decode the difference between a lifetime business, and a true legacy business.
Lifetime vs. Legacy Business
The biggest and the most important differentiating factor between a business that lasts a lifetime, and a business that becomes a legacy is the value system of both the businesses.
Business owners who wish to build a business that will sustain one (or a few) lifetimes are always focused on how they/ their family/ loved ones will extract the maximum benefit from the profits of the business.
However, entrepreneurs who wish to build/ are building a legacy business always focus on building the right tools/ systems/ processes/ teams that lead to a business of scale.
These are businesses that are backed by a very strong vision and a clear purpose.
The founders of legacy businesses don’t just build a business, they build an ecosystem that enables growth for all the stakeholders (vendors, team members, customers, the society, the government, etc.) and the business owner is the last person/ entity to get benefitted in the process.
A lifetime business grows by servicing the customer. A legacy business grows after ensuring growth of the customer and all the other stakeholders of the ecosystem.
That’s the conclusive difference between the two businesses.
The question is, which business are you building?
Conclusion
Everyone wants to build a legacy business; but to do so, your journey starts from the first step.
If you’re a business owner or an aspiring business owner who wishes to build a legacy business, you will have to work towards building your positioning and working your way up from there.
Need help with positioning your business? I offer 1:1 consulting for selective businesses with their positioning, marketing and content strategy process. Interested to work with me? Feel free to reach out and let’s connect.Your Thoughts!
If you’ve reached till this point of the post, I’m sure you must have some thoughts/ feelings/ opinions about what you’ve just read.
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Prompt used to create the image for the note
P.S.: Image made on Meta AI using the prompt, “Imagine a business owner who focuses on building a team, systems, processes and building a business that would last for centuries and not just a few years.”