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What Does It Mean to Build a Business Legacy?

Imagine creating something so valuable that it outlasts you, benefiting future generations. For many entrepreneurs, this dream comes true by establishing a successful business. But what exactly does it mean to build a business legacy?

Planning for the Future from the Start

Building a business legacy begins with a clear vision. It’s like starting a journey with the destination already in mind. Here are some key questions to consider:

• What do you want for the future of your business?
• Should your family inherit it, or should it be sold?
• How will it be structured for succession?

These considerations help in crafting a roadmap that leads your business toward a lasting legacy.

Creating a Succession Plan

A succession plan is like a treasure map. It outlines how your business will continue when you’re not around. Without a plan, your business might face challenges or even closure. Here are the essentials of a good succession plan:

• Decide who will run the business next.
• Determine how ownership will be passed on.
• Consider tax implications.
• Prepare for scenarios like buying out an owner.

Set Up Your Business to Run On Its Own

Think of your business as a well-oiled machine. It should run smoothly even if you’re not at the helm. This involves:

• Choosing a qualified successor.
• Considering non-family members for leadership roles.
• Keeping your successors informed and prepared.

The first thing we want to do is break down a success strategy into a digestible, effective path.  People tend to “overthink” the process, which actually leads to less success, not more. 

So here are the four, simple steps that you are going to be learning within the initial “core training” at Wealthy Affiliate to turn you raw website into a profitable venture. 

• Step One: Choose Your Niche (DONE).  Decision time. Think about what you love, what interests you, and what you can help others learn or discover. Your niche is the corner of the internet where you’ll thrive. It’s the special flavor that sets your site apart from the crowd. You have already chosen your niche, but know that your niche can be changed at any point, and through time you are likely going to be involved in many different niches online!
• Step Two: Build and Rank Content. This is where the magic happens. Your focus as you build your website is going to be helping your audience, sharing stories, and creating engaging content. This is where ranking comes into play. It’s all about making your content easy for search engines to find and love. So roll up your sleeves and get ready to learn the latest SEO strategies with Wealthy Affiliate (and use the tools within your membership to help you with that).
• Step Three: Get Traffic. The next stop, traffic. The more visitors you have to your site, the better. It’s simple math. Increased site traffic equals increased visibility, which equals increased potential for profit. As your website starts to rank in search engines, and as you start to implement social media strategies taught here at WA, you are going to see your traffic start to take off.
• Step Four: Make Money. The moment we’ve all been waiting for – PROFIT. This is where you’ll be adding affiliate links to your website, and start earning money every time a purchase is made through these links. Here’s an example: visit: https://www.wealthyaffiliate.com?a_aid=YOURID …and see how you can incorporate such links to monetize your site. You are automatically approved for the affiliate program here at WA, and you can share that affiliate link at any time and earn recurring revenue when someone joins and upgrades.  There are people here within the community earning 6 figures simply sharing their WA affiliate link on their websites. 

Step by step, we’ll be growing together on this journey. So keep pushing forward, keep learning, and remember – your success is our success. As you move through the core training and working within your Business Hub, you will be guided through this process and building out your website with success in mind.

The Power Wealthy Affiliate for YOUR Business Efficiency

More efficiency leads to more productivity.  More productivity leads to more opportunity.  That is the focus of our training, and our technology, and the platforms that you have available to you within WA. 

You are unlocking “ultra efficiency” by harnessing the Business Hubs platform at Wealthy Affiliate. This is your key to managing and expanding your business with ease and proficiency. The platform’s seamless navigation and intuitive interfaces unleash a new level of control as well as flexibility.

Your Wealthy Affiliate website is backed by our state of the art, “in house” Managed WordPress Hosting.  We lead the industry leader in speed, security, and reliability. The platform’s sophisticated technologies guarantee your website’s performance. NO space for lag, error, or threat!

You now have access to an array of over 5,000+ theme designs and 60,000 plugin theme extensions await you…not to mention key to the community, platforms, and mentorship within WA. 

As an added bonus, you get a FREE domain (and TWO free domains with Premium Plus+) upon upgrading, so you can now get your website over to your own brand (if it isn’t already). Remember, have a domain on your own brand, allows you to start to rank in search engines like Google. Also, all affiliate programs now require you to have your own domain for approval.  So it is requisite for making money online.  

Your journey at Wealthy Affiliate doesn’t or with your brand doesn’t stop here. It’s JUST THE BEGINNING.  It is a breeding ground for a long-term and very successful online business!