The Fourth Dimension of Wealth: Emotional Wealth

I have had two floods at my business.  I have had sewer lines back up in a rental on Christmas a couple of years ago.  I can tell you that it’s not always rainbows and unicorns.

I function from a basic belief that everything in this world happens for a reason, and in some way that reason serves me.

I want to tell you a little more about a gut wrenching story that helps me to put everything in perspective.  A few years ago I had a tenant die in a rental property of mine, from natural causes.  They think she had a brain aneurysm and passed away in her sleep.  Which when you look at all the ways that someone can pass away it’s not that bad of a way to go I guess.

This tenant was awesome.  She was always doing things to make the property nice.  She was very happy,  sometimes took care of small things herself.  Really a model tenant.  Her passing away really effected me.  I had to coordinate with her family out of state to move her belongings.  They were a nice family from Oregon.  However at the time, I was really stressed with other projects going on.  The last thing I wanted to do was to spend a Saturday of mine on three hours from my house, sorting through someone’s belongings.  I really did not have time to do it.

So as I was doing my best to keep a good attitude while the family helped me move my tenant’s personal property into the U-haul bound for Oregon, I was also showing the property to the people that came to looked. They looked like they could have guest starred on “Sons of Anarchy”.  Not the kind of people I wanted in the house, especially after having such a great tenant.    We started in the kitchen packing and moving and wound up in the bedroom, presumably where the tenant had passed away.   I was tired,  physically and mentally.  When I got to her bedroom I will never forget the book that was on her nightstand “It’s never too late to start saving for retirement”.  I literally sat down the floor started laughing, the laughing turned to tears.  It was really a “quake” moment for me, and I will never forget the lesson from that day of taking stock of what matters most.

Well from then on out, I made a conscious effort to really look at my life as an Entrepreneur through the lens of Emotional Health/Emotional Wealth.  Here this lady that was so nice and so caring was taking steps for her future,  could maybe have been some of the last words she read, then poof she is gone.  As my Grandmother used to say, “Tomorrow is promised to no one”.  We need to make sure that what we are doing in our life is worth it.

It’s really easy to set up our businesses so that we feel every sting.  It takes far more vision to create a business that does not “bug you” that much.  In every business there will be challenges,  however I think if you create systems in your business you will cut down on many things that sap your Emotional Wealth.   Here is why systems help you to create more emotional wealth in your business.

  1. You no longer make every decision.
  2. Your staff runs systems on point consistently,  you become a list checker, versus a micro-manager.
  3. There is less decision fatigue when you have systems created.  See decision fatigue.
  4. The owner is more happy because he/she has the other three dimensions of wealth created.
  5. Since you have more time, this frees you up to spend time with your family, friends, and recreational pursuits.
  6. You can go on a guilt-free vacation when all your systems are up and running.

Most importantly when you feel free,  you have more energy to devote to the important parts of your business:

– Thinking about new opportunities.

– Training your staff to execute the systems with more precision.

 

Read about the first dimension of wealth here. 

second dimension of wealth

third dimension of wealth

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