I made this point on the black wealth tweet talks podcast.
I think that in a lot of ways we chase money when we need to chase wealth. Money and wealth are not synonymous but they look the same. Wealth is measured in what you own, rich is measured in what you have. One is temporary.
The point was made because we were discussing people who build businesses, sell them and then watch the vision for their company fall apart.
I always bring up that a business is more important than the net number, the stock price and the valuation. Businesses are about community.
The reason why you see Asians come together and work for no money and work little lame jobs to build up one business is because one business can save everyone. Business isn’t just about YOU its about all the jobs, the services and the power and control that comes when you own the businesses in your community.
Another example we discussed on tweet talks is how by not controlling our businesses we lose control of what we consume. We eat the food they feed us, we watch the tv they play for us, we listen to the music they produce. If they can control what you put inside of you they can control what comes out of you.
So this is why I tell people that the money isn’t nearly as important as having control of your destiny. You should never sell an asset that generates income and appreciates just for money. Never. Money loses value every year that you hold it and don’t put it to work.. Your asset can be leveraged but should never be sold.
The asset shouldn’t be sold because the power is in what you own not in how much money you have. This should be the shift in focus for everyone. WE see it all the time when the person ops for ownership as opposed to money in the long term they are a genius.
Jason Weaver is a big thing now. People are talking about how instead of taking the cash for his voice in lion king he took the royalties. Or the man who took a few hundred grand instead of the ownership stake in Nike. Always opt for ownership.
So this is motivation for us to start holding on to what we own, valuing what we own and putting less focus on the cash and flash. Don’t sell that prop for pennies to the wholesaler. Don’t sell your time for pennies to your boss. Don’t sell that business to the person who is going to buy it and blow it up. Blow yourself up and keep all the ownership, control and power for yourself and your community.
Ownership and control is the power and that power gives you enduring wealth not just a few bucks for the moment. Choose wealth.
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