Converting self worth into net worth

When you combine creating ‘exquisite customer value’ with a generous spirit and a network of success-minded people, both your credit union and its members will benefit.

As a serial entrepreneur, I’ve started three companies, bought two, and become a partner in another. Through all the ups and downs, I’ve learned a lot about the connection between net worth and self-worth. My experience and consulting work have led me to this conclusion: If a credit union leader, employee or member wants to dramatically increase his net worth, the most effective and fastest path to do so is by dramatically increasing his self-worth.

Let’s be clear, though. A substantial increase in your member’s net worth is not going to come about because you lower the interest rate on is line of credit from 6 percent to 3.5 percent. Yes, the reduction in interest rate will help that member’s financial well-being, but it won’t result in a significant increase in the member’s net worth.

What will lead to significant increases in net worth are the following three mindset shifts. These practices allow leaders to create higher levels of net worth for themselves, their employees and their members.

 

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