BE PURPOSEFUL and Prosper!

So what do I mean by Be Purposeful ? I mean Define Your Goal. Once your purpose (your goal) is defined it permits the development of a useful Action Plan. Without a purpose we end up running around like chickens with their heads cut off.

It’s disturbing to observe entrepreneurs, clients, and peers I work with labor randomly and without purpose. Daily distractions become all consuming and get in the way of goal achievement. Little progress is achieved.

On the other hand, I recognize a correlation between achieving significant wealth or building substantial enterprises and having a purpose underlying decisions and activities. Focus and determination become aligned and driven by the defined purpose.

Whether it is through my work and experiences in the Young Entrepreneurs Organization (YEO), various multi-million dollar businesses I have created, ran, and sold, or in my present business today there are clear factors that lead to success and failure. These factors need to be considered in defining a purpose:

Emotional: Be honest with yourself. What is the motivation? Why do you desire your purpose?

Logical/Practical: Be forthright on these matters. Is the purpose logical? Is it realistic?

Information/Influences: Thoroughly examine and analyze these factors. What data supports the purpose? What is the competition doing? Will others support or fight the purpose?

From personal experience here are a few areas that are ripe for Being Purposeful :

Personal Brand: How do you want to be perceived by your Peers, Clients, Employees and/or Strangers? How should you dress? What about your grooming, dialogue, manners and activities? It is interesting how Musicians and Politicians spend millions of dollars defining, building and maintaining a brand, yet entrepreneurs often “blow through life” life without giving attention to “Their Brand”.

Wealth Management: My partner Tom Warburton and I work daily with people on developing purposeful wealth accumulation and/or wealth sustainability strategies. Most people making money for the first time randomly accumulate assets. They do not have the skills to understand “what good looks like” when they get away from their core competency. Amateur investors rarely have the expertise to understand how a $50,000 investment in a friend’s business fits into a purposeful asset allocation. Does chasing “Hot Ideas” seem to make sense? Be purposeful and don’t gamble with your hard earned after-tax dollars. The wealthiest individuals, sophisticated investors and large foundations have an extremely disciplined and purposeful wealth accumulation, preservation and annuitization strategy.

Become Purposeful Today. Define a purpose you can achieve. I’ve observed that entrepreneurs with a well thought out “purpose”, are more efficient, enjoy their work more and pay less Fool’s Tax.
Eric Jenkins is a Principal and Co-Founder of Warburton Capital, www.warburtoncapital.com a wealth management firm dedicated to disciplined and purposeful wealth management. A seasoned Entrepreneur, Eric has founded or co-founded four businesses and has consulted with dozens of entrepreneurial peers. Eric has been on the INC. 500 list twice, UTAH 100 three times, Tulsa 40 under 40 and received the Entrepreneurial Excellence award from his peers. Eric has been a member and leader of EO www.eonetwork.org for 10 years and is currently serving as EO OK Chapter President. Eric can be reached at eric.jenkins@warburtoncapital.com