Build Your Business, Build Your Legacy

February 07, 2019

People go into business for themselves for many different reasons. For some, it’s the allure of being responsible for their own success and future earnings. Some are drawn to the flexibility that comes with an entrepreneurial lifestyle. Others want a career where they feel they can truly make a difference in the lives of their customers and in the communities they serve.

Starting your own business venture can provide all of these benefits, but there’s another reason to consider taking this path: the opportunity to build equity in your business, equity that can have a lasting, positive impact on future generations

The Power of Building Equity as a Small Business Owner

When you work for someone else, you’re earning a paycheck. If you’re lucky, you also may have the opportunity to earn bonuses or participate in a profit-sharing plan. In reality, though, your employer is reaping the rewards of your hard work. The customers you serve and any profits made are ultimately your employers’ – not yours.

However – as a small business owner, it’s a different story. You have the opportunity to earn equity in your own business for your future and your family’s future with every customer you serve. What, exactly, is equity? Put simply, your business’s equity is the value of your business’s assets minus its liabilities. For businesses that serve customers’ needs over the long term, there is also valuable equity in the underlying book of business.

Every customer your small business serves and retains adds to the company’s current and future revenue streams. Just by focusing attention on serving people’s needs and offering your company’s products and services, you’re adding to your equity. When you own equity in your business, you have the unique opportunity to leave your legacy to someone you care about by passing down the business, or even selling it to a qualified buyer. This is a powerful reason to consider becoming a business owner.

A Legacy with a Wide Reach

Owning equity in your business is what allows you to ultimately pass down your business one day – but it’s the legacy you create along the way that matters. As a business owner, there are many ways to make a lasting impact, including investing in the success of your employees as well as in your surrounding communities.

Impact on Your Staff

As a small business owner, you have the chance to be a role model for your employees as you train and guide them to excel in their positions. When you are a positive driving force behind their success, you will find that not only will your employees feel empowered to reach their own personal goals – but they will feel a strong sense of motivation to meet the overall business goals.

There are a number of ways to show an investment in your employees’ professional growth and development, including providing one-on-one mentoring, training and education opportunities, or even a rewards program. When employees feel appreciated and have the resources they need to succeed, your business will surely benefit.

When you invest in your employees and empower them to do their best, you’re not only making a difference in their lives, you’re also helping to create your own legacy. The positive impact doesn’t have to end with small business owners and their employees; you can also create a powerful legacy for the people and communities your business serves.

Lasting Impact on the Community

Businesses that take an active role in helping their communities can further cement their legacies and have an even greater impact on those around them.

Owning your own small business puts you in a fantastic position to give back to your community – at a personal level and as a business owner. You can draw attention to and support the causes you believe in, driving meaningful change where it’s needed most. There are several ways to provide community support, including clothing drives, sponsorship opportunities, career-mentorship programs – just to name a few. When you devote your time and efforts to helping people and organizations, you’re also spreading awareness of your company’s products and services – even if it’s not your intention to do so.

As a small business owner, you can have a lasting impact on people you will never meet, simply by investing in your community. The impact of your work may be felt far and wide, for years or even decades, later.

What Will Your Legacy Be?

If small business entrepreneurship is your dream, consider an opportunity as an Allstate Agency Owner in which you will have the chance to change not only your own life, but the lives of countless others.

Unlike some other business ventures, as an Allstate Agency Owner, you will own equity in your business allowing you the opportunity to someday sell it or pass it down to an approved buyer within your family who can continue your legacy. To learn more about how you can build equity in your business, leave a legacy for future generations, and create a lasting impact in others’ lives, visit www.allstateagent.com or contact a recruiter today at 877.711.1015.

Subject to all terms and conditions as outlined in the Allstate R3001 Exclusive Agency Agreement and Exclusive Agency program materials. Allstate agents are not franchisees; rather, they are exclusive agent independent contractors and are not employed by Allstate. Allstate is an Equal Opportunity Company. Allstate Insurance Company, 2775 Sanders Road, Northbrook, IL 60062. In New Jersey, Allstate New Jersey Insurance Company, Bridgewater, NJ. ©2019 Allstate Insurance Co.