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I found a blog post the other day, when I was looking around on the Internet, about wealth creation. I thought it was very interesting because when you look at the image which is shown above it really does detail my own path towards creating wealth for me, my family, and my community.
As I dove deeper into the blog post, I realized that this model was so great because it really is a model that can be applied to any and everyone, no matter what job/profession you begin in.
So, over the next few weeks, I will be writing a short three-part series on the ladder of wealth creation where I will break down the image and how barbers and stylists, in particular, can utilize this model. Finally, I will add my thoughts on my own journey along this path from ladder to ladder.
My hope is that we can talk a little bit more about why wealth creation is important here on U.G.L.Y. and how to put more Black folks onto the wealth creation path.
The image is self-explanatory!
The image is self-explanatory so take a minute to look at it. As you move from left to right, you move to higher levels of wealth. Also, as you move from bottom to top, you also create more wealth. So take a look at the image and see how your own path has mirrored the image and if not , where can you make the jump to another ladder further to the right.
Why does it matter?
So why does an understanding of this Ladder of Wealth Creation matter to us, especially in the black community? Well, we need to build wealth not for the sake of building wealth itself, but for building the power and influence that comes with the deployment of that wealth.
And if we are able to do that, then we are able to accomplish our goals as a community and create better lives for our families and our friends.
In Part 2, we’ll talk about how barbers and stylists, specifically, can't create wealth using this as a model, and then in Part 3, we’ll explore how my own journey has mirrored this path AND my goals for creating wealth not only for me but for my community. Let’s go!