Minding Your Business #47 – Having an Ownership Mindset

By Andrew Connors

A substantial majority of affluent families, ranging between 66% to 88%, are business owners^*– a statistic that not only highlights the entrepreneurial spirit driving wealth accumulation, but also beckons a closer examination of the unique facets of business ownership that facilitate such financial success. A significant majority are entrepreneurs who have not only navigated the treacherous waters of business ownership, where a considerable number of ventures falter within their first decade, but have also cultivated what is referred to as the “ownership mindset.”

Watch Andrew’s video below to learn how to uncover the foundational principles that anyone aiming to enhance their wealth can adopt, drawing lessons from the practices that have propelled business owners to their financial triumph.

Download the transcript of this episode here.

Additional Resources for Business Owners

Entrepreneurs Corner/EOS

The Energy Drain of the Wrong Person in the Wrong Seat

Discover the hidden dynamics behind workplace inefficiencies and explore practical strategies to realign your workforce for optimal productivity and fulfillment. This article, from EOS implementer Jill Young, will help you delve into the concept of “wrong person, wrong seat” and uncover how misalignments within your team can drain energy and hinder success. Click below to read the full article and unlock the keys to a harmonious and high-performing workplace culture.

Read More.

Middle Market Corner

3 Signs Your Team Doesn’t Have an Ownership Mindset & What to Do About It

Embark on a journey of leadership transformation! This insightful article will help you cultivate an ownership mindset within your team and learn the strategies top leaders employ to empower their employees and foster a sense of accountability, driving innovation and success. Discover practical tips and real-world examples to inspire ownership at every level of your organization.

Read More.

Family Business Corner

Is It Time to Sell the Family Business?

This thought-provoking article from Family Business Magazine explores the pivotal decision of whether or not it’s time to sell the family business. Gain insights into the complexities and considerations involved in such a significant transition, from financial implications to familial dynamics. Whether you’re contemplating succession or exploring new opportunities, this article offers invaluable guidance to navigate the path ahead. Read now to make informed decisions about the future of your family’s legacy.

Read More.

Wealth Management Corner
Integrated Estate Planning Preserves Wealth and Harmony

What’s the key to preserving both wealth and family harmony? This article gives strategies that go beyond traditional approaches, considering not only financial assets but also family dynamics and values. Utilize this practical advice and expert insight to ensure a seamless transition of wealth while nurturing familial relationships. Click below to read the article and unlock the secrets of integrated estate planning for a legacy that lasts.

Read More.

Andrew R. Connors, CFP®, CEPA

Chief Growth Officer, Managing Director
Fairport Wealth Cleveland

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