Wealth Building Through Generational Entrepreneurship
“If it doesn’t make dollars, it doesn’t make sense” is a quote that leads a lot of my decisions as a business owner and advocate for women founders. In today’s present economy, it has never been more critical to focus on building and maintaining wealth. Over the past few months many of our Her Corner community members have expressed concern over exactly HOW to build and sustain wealth. I would offer that it’s not a one size fits all process. In addition to traditional wealth creation methods this is the perfect time to imagine generational entrepreneurship as a customizable roadmap that considers your circumstances in this moment.
Generational entrepreneurship is a key method for female founders to grow their businesses. Research indicates that collaborating with others – especially across age groups – yields a higher rate of success, provides lasting impact, and creates generational wealth within social networks. Put another way: it can only be a good thing to listen to those who have been where you are, lean on those who are where you are, and help those who are coming up to find their way.
Here’s what you can do to continue to elevate the conversation, support fellow founders and most importantly consistently change the growth trajectory of your wealth.
Before you explore our detailed guide by the decades, here are a few essential modern skills you should consider developing regardless of your respective generational group:
Essential Modern Wealth Building Skills for All Generations
Digital Literacy: Utilize AI and data analytics to make informed decisions.
Hybrid Management: Navigate remote work and asynchronous collaboration to keep business expenses low. Creativity and flexibility are integral for increasing productivity and retaining talent.
Agility: Pivot quickly through uncertain times. Recall that Kodak lost their market dominance because they were unwilling to change (despite having time to do so).
Inclusion: Leverage diversity of thought and consider multiple perspectives. Culture impacts your financial decisions – period. Whether you’ve been raised to think that talking about money is gauche or that the only trustworthy bank is hiding cash under the mattress, recognize that there may be other ways to grow your income streams.
Access our full guide here, or click the links below for quick tips:
In your 20’s - Build the Foundation
In your 30’s - Accelerate Growth
In your 40’s - Maximize Earning Potential
In your 50’s and Beyond - Protect and Pivot