Your Values are Your Legacy: A Guide for Small Business Entrepreneurs
You have spent decades building your business. On the way, you have succeeded, faced challenges, followed your vision, developed business and marketing skills, and learned how to lead and make tough decisions. Your end game may have been to sell your company, turn it over to the next generation, or liquidate and move on to another challenge. There is great value in telling your business story. It is your last task to complete. Look back and tell your legacy story with reverence and joy.
Because of your years in business, you have beautiful stories to tell, from your origin story to the mentor who inspired you, your favorite customer success story, a project launch that went bad, and how your team miraculously turned it around. These stories are not just part of your business's folklore; they are a part of you. It would be inspiring if you wrote them down for future generations to feel the same possibilities and inspiration in their lives and connection to you.
One I remember from my great grandfather's memoir celebrating fifty years in the Wool and Fur Trading Business, at twelve, walked four miles home to save on the ten cents train fare after closing a deal in a neighboring town. Readers might be curious why a twelve-year-old was conducting business or how his frugal attention to detail blossomed.
Your business stories have the potential to reach future generations of your family and future generations of those starting in the same business you are in. Perhaps all that will remain of your business are these enthralling stories.
A family legacy is about the values that helped you grow your business. Your values are not just a combination of hard work, perseverance, adaptability, family values, and vision. They are the very foundation of your success.
Hard work is the foundation of any successful business. Share stories that illustrate your commitment and effort. Tell the story of your business's early days when you put in long hours. Impart tips such as leading by example.
Share stories of times when you faced obstacles yet persisted until you achieved your goals. You may have had financial difficulties, market changes, or personal setbacks. Tell the story of your resilience.
Adaptability is essential for business survival and growth. Discuss how you've adapted to changes in the market or industry. Share strategies such as staying informed about industry trends and being open to new ideas.
Family values such as recognizing and celebrating small milestones are essential for maintaining motivation and morale. Share how you've incorporated celebrations into your business culture. Highlight small gains that eventually led to significant successes.
Having a clear, long-term vision is crucial for guiding your business decisions. Provide examples of how staying true to your vision has helped you navigate difficult decisions and keep your business on track.
Your legacy is more than just a successful business—it's the values you impart to future generations. Start documenting and sharing your legacy today to ensure your hard work, perseverance, adaptability, celebration of small gains, and vision live on.