How to Best Define Wealth as an Entrepreneur?

When we think about wealth, we can apply many meanings to this term. I am sure most people have heard one of the old sayings: "A wealth of knowledge." But what is wealth?

Merriam- Webster defines wealth as an abundance of valuable material possessions or resources, abundant supply; all property with a money value or an exchangeable value; all material objects with economic utility.

Wealth typically means working hard to accumulate financial resources and assets for an entrepreneur. Then as entrepreneurs, we want to use these resources and assets to grow our business.

Some of the things Entrepreneurs use wealth for are:

1. Expand their business operations,

2. Invest in new projects and ventures

3. Attract top talent to their teams

4. Freedom and flexibility in their personal lives,

5. Ability to pursue other interests and hobbies or to support charitable causes.

This sense of accomplishment, ability, and growth allows entrepreneurs to equate their wealth as a measure of their success and a reward for their hard work and risk-taking.

However, it's important to note that not all entrepreneurs prioritize wealth equally. How we define wealth can help us grow or it can limit us. I am not locked into wealth from just the perspective mentioned above that many people have. Some others may prioritize other values, such as social impact, innovation, or personal fulfillment, over financial gain when thinking about wealth.

Our interpretations may vary on our particular circumstances and personal beliefs. I encourage you to have a solid perspective on how you view wealth. I will share my mindset and outlook on wealth over time to allow you to embrace a more significant meaning.

The same rules apply when looking at wealth from a Christian perspective. There will be varying meanings and interpretations of wealth based on the understanding of God.

I believe God blesses us with many gifts, and how we use those gifts is our gift back to God. There is a thing called "Stewardship" I want you to think about as we discuss wealth. The principle of stewardship means that we are responsible for managing the resources and blessings God has given us, including our wealth. So, I hold wealth to not just be a personal thing of physical or monetary gains but something much more profound.

At the same time, Christians may carry a view of wealth that sometimes have negative connotations creating caution about the potential pitfalls of wealth, such as greed, materialism, and a focus on worldly possessions rather than spiritual values. So we will explore these thoughts deeper for my faith-based entrepreneurs.

I have 7 pillars of wealth that are a part of my life's philosophy. I look forward to sharing with you in more detail about my seven pillars. Hopefully, if you resonate with the seven pillars they will become a part of your philosophy of wealth. I will end with this. I view wealth as a tool to advance God's kingdom on earth, to serve others, and to live in my true purpose.

Share with me your thoughts on what wealth means to you.