Mar 10

SECURE THE BAG

5 comments

We always talk about chasing and securing the bag, but how secure is your bag really? In the first 5 chapters of Black Fortunes, not only were we introduced to legends unheard of, but we saw John Mott Drew and William Alexander Leidesdorff lose all they had gained.

 

In establishing your personal legacy, have you considered taking the necessary actions to protect what you are building?

 

If so, what are some of the things you've done to protect and maintain yours?

Protecting your legacy was a theme that always talked about in my household growing up. However, it wasn't until the latter part of my 20's that I actually started to take it seriously because I began to see the negative effects in people around me that didn't take care of whatever business, brand, etc that they were establishing.

 

So, I made it a point to research and educate myself on what methods, plans, etc would best create financial security for me and my family and sharing that information to hopefully break that cycle.

A big part of why we don't start our own ventures or take risks is because we have that fear of failing and losing everything. I don't believe this fear should stop us, but I do feel strongly about doing the best that I can to prepare for possible outcomes, good and bad. I feel that if I'm a step ahead of the obstacles that may come my way, I can develop strategies to overcome or even avoid them.

 

RESEARCH RESEARCH RESEARCH! And consistency, I think is the best protection.

Im happy this is topic conversation, because in all honesty I am always talking about starting my business and have so many ideas but I have no idea how to protect my empire once I accomplish it. I definitely feel like there should be more resources for people of color to learn these things for the simple fact that not all of our families have knowledge of how to protect a business let alone build one. More unity and learning needed amongst the black communities.

I couldn't agree more! We need the resources and the knowledge!

As I get older and prepare to start my own family, I've begun to really think about the importance of creating and protecting my legacy. What will I be remembered for? What will I leave my children? How will what I do now positively effect the generations to come? I am currently in the phase of researching the best ways to create financial stability for myself and my future family.

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