Profitability and cash flow are two of the primary scoreboard items for contractors.
However, you must pause to put a few other things in context for your life’s balance sheet. And as a leader, you must help others build their life’s balance sheet.
Considering reasonably good levels of security, shelter, and food, true wealth is measured more by non-material things.
- You can and should continue building material wealth, so this is not an “OR” type of decision. Rather, it is a prioritization decision.
- You should also look at these other measures of wealth as prerequisites. There is no amount of material wealth that will overcome a weak foundation.
- Study Maslow’s Hierarchy of Needs and rate yourself on these questions. Talk to your friends and family about them. Develop a plan to improve them.
- Consider the wisdom of Warren Buffett: “Basically, when you get to my age, you'll really measure your success in life by how many of the people you want to have love you actually do love you.”
What are you doing today to improve your wealth?