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The One Trait the World’s Richest Business Owners All Share

How do people get wealthy?

It’s a question entrepreneurs who are new to the game are itching to answer. Maybe it’s a relentless bulldog approach, or possibly an irresistible charm. You hear the word “hustle” get thrown a lot, too. Suddenly, you find yourself neck-deep in advice that, really, all seems pretty good.

But the truth is that wealthy people are just as varied as your average business owner trying to scrape by. But they do have one trait in common.

Wealthy Business Owners Inspire Those Around Them

Highly successful entrepreneurs are, without a doubt, some of the most inspiring people you’ll ever meet. They’re charismatic. They compel people to put in the effort, simply to serve a higher vision.

Employees do the grunt work (and the genuinely fulfilling work), but leaders stand alone when it comes to cultivating inspiration. They must be the “Chief Inspiration Officers.”

These CIOs are the ones people turn to for guidance and motivation, for cues on how to behave, and they must act as the catalysts for future inspiration among other members of their team.

And the best part is, inspiration creates a positive feedback loop: The more that gets pumped into the system, the greater the output, which means more growth for the company.

Be the Chief Inspiration Officer

Now that you know who you should try to be, consider the ways to get there. First, know your company’s Why. Simon Sinek, popular author and management expert, says that “People don’t buy what you do, they buy why you do it.” You will yield great numbers if your vision is great. But chasing great numbers will force your vision to wither.

Second, set clear expectations. Make sure you identify the results you want from your staff, and communicate the rewards for meeting those expectations. Transparency is key.

But setting these expectations means little without your support along the way. Enable your team’s success. You can do this by empowering them to make an actual difference in their immediate environment. Encourage your leaders to follow suit.

Finally, generate meaningful connections with people. Too often, leaders pass off a quick chat as meaningful connection, as if discussing the day’s weather for the fourth week in a row helps you learn your staff’s goals in life. It doesn’t.

Companies are communities, which means people will only feel like their work is positive and good if they feel respected by the person they’re working for. And when they do feel that sense of respect, often they’ll go the extra mile – not for themselves, but for the sake of the vision.

With these kinds of systems in place, wealth is all but inevitable. Hopefully you’re not too busy inspiring people to notice.

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About the author, David Shriner-Cahn

David is the podcast host and community builder behind Smashing the Plateau, an online platform offering resources, accountability, and camaraderie to high-performing professionals who are making the leap from the corporate career track to entrepreneurial business ownership.

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