Although you may have read hundreds of articles that show you how to follow the work habits of billionaires to achieve financial success for your business, these articles describe only a very small part of the picture. Like most startup founders, these individuals are not only interested in the present, but are also focused on the future, anticipating what will happen.
Because of this, many billionaires focus on leaving a legacy for their family, their business partners and others – and not just in financial terms. These legacy concepts should also be adopted by startup founders who want to leave a mark in the industry after leaving their company.
Billionaires build legacy through planning
Very few people stay in the same job forever – and that goes for some business founders. Just look at the list of the most famous serial entrepreneurs like Andreas von Bechtolsheim or the Samwer brothers to see that even the most talented founders do not stick to the company they started.
Whether you are hoping to sell the company or plan to hold the same role until you retire, you certainly want this business to maintain the same success even after you have left. The continuity plan ensures that your organization is ready to build on the foundation you have laid by finding a qualified individual to take your place.
Sharing experience is very important
Your experiences, both successes and failures, provide irreplaceable learning opportunities for others. Sharing the lessons you have learned in business will help family members develop a greater perspective when facing their challenges. Can help a business associate gain the knowledge needed to get past a particular issue. But they will never benefit if you do not share what you have learned.
In fact, an article in The Guardian shows that simply sharing stories with family members improves self-confidence and resilience, and at the same time improves bonding between family members.
Distribute the values
Startup founders are responsible for communicating the company’s mission and values to others within the organization. This is a very important part of building a legacy that will last for a long time within your company as well as have a direct impact on the success of your actions at the moment.
Building a legacy does not happen by accident. By displaying values through practice in the workplace and at home, you build a legacy that will not fade with time.