Fix This Next: Impact and Legacy
I have to say I absolutely loved chapter 6 of Mike Michalowicz’s book – Fix This Next. He called it a “musical bridge.” He makes a point to say that once we have shored up the first 3 levels: Sales, Profit and Order; we are going to transition to the last 2 levels of Impact and Legacy.
There are many business owners that rush into the impact level without having a firm foundation. In my clarifying moment calls with clients, I have had to point out that their charitable contributions, sponsorships and even picking up the tab at restaurant for a group of colleagues can have a detrimental affect on their business if they don’t have revenue (sales/profit) to support those activities.
Please do not misunderstand me, I believe in being generous. I believe in what comes around goes around. I believe in the giver’s gain philosophy. I also believe that when we give it should not be putting us into debt. If you already have debt and no particular plan to pay it back, maybe it is time to put a pause on the generosity. Let’s get a firm foundation underneath you. There is a season for everything in life – This would be a season for financial healing.
Mike points out that there are people that give, and give, and give in a self-sacrificing way. They confuse sacrifice with success. I can’t say it better than Mike so I’m going to quote him. “They are “giving ‘til it hurts,” and that hurt puts them right out of business.”.
I have given and I have received generosity. I have to say it gives me ultimate pleasure to be able to give. As a matter a fact, my husband and I have given to food organization all over our country to support the millions out of work and in food lines. It gives me great joy to be able to do it. However, I am not ignoring my first 3 levels. Give yourself the gift of a firm foundation. If you do it in the right order, then the stress is not there when you need to pay your bills.