To successfully found, operate, grow, and exit a business enterprise takes an entrepreneurial mindset.
And when I work with Veteran Owned Businesses, this is one of the topics I cover when I am helping them tell their business’ story in a compelling, fact-driven manner so they can attract the resources necessary to help them combat the three challenges most common to small (<500 employees) and micro small businesses (<10 employees). They use their entrepreneurial mindset and financial statements to do so.
“But what is an ‘entrepreneurial mindset Eric?” I hear you ask.
I answer “Conceptually, and entrepreneur’s brain has two halves, the creative right “make money” side and analytical left “preserve wealth” side. They use the creative left make money side to identify problems in the marketplace to solve, create solutions that sell, and build organizations to sell the solutions at scale. Then they should, and often most don’t, engage their right, logical preserve wealth side so preserve the wealth they create through their company’s growth”.
This takes being familiar with and using your financial statements to derive facts from, assembling a team of experts to include, at a minimum, a great CPA, business attorney, insurance broker, and wealth manager. These tools, when employed by a fully engaged entrepreneurial brain, create income to channel and preserve as wealth.
