Become a Creator today!Start creating today - Share your story with the world!
Start for free
00:00:00
00:00:01
Your Identity
62 Plays24 days ago
In this introspective episode of the Uncommon Wealth Podcast, host Phillip Ramsey addresses a compelling issue that many entrepreneurs face: the perils of anchoring one's identity solely in their business endeavors. Through reflective storytelling and practical insights, Ramsey unpacks the emotional and psychological challenges that can arise when deeply invested business leaders suddenly find themselves in a post-sale identity vacuum.
Dive into a nuanced conversation about the intertwined nature of identity and entrepreneurship. Phillip Ramsey shares the compelling narrative of a former business owner who experienced a complete mental breakdown after selling his business. This episode delves into how this profound experience reveals the often-overlooked psychological stress related to business ownership and identity. Ramsey emphasizes the importance of acknowledging and addressing these issues early on, suggesting mindful consideration of one's identity beyond their business achievements. With expert analysis and real-life examples, Phillip provides a roadmap for aligning personal identity with broader life roles, such as being a parent, partner, or spiritual being, thus paving the way for a healthier, more balanced approach to business and life.
Key Takeaways:
- Entrepreneurs often face identity crises post-business sale, highlighting the danger of tying identity solely to business roles.
- Business ownership, much like parenting, involves deep emotional investment, which can lead to identity issues when those roles change or end.
- Maintaining a multi-faceted identity is crucial for personal well-being; this includes identifying roles beyond being a business owner.
- Continual self-reflection and asking "Who am I?" can help build a comprehensive identity that is not reliant on external success or business status.
- Emphasizing personal roles, such as being a friend, family member, or spiritual individual, can offer stability and fulfillment beyond business achievements.
Notable Quotes:
- "A lot of times business owners and people who are starting a business struggle with putting all of their identity in their business."
- "You pour yourself into a business as much as you do a child; when it's gone, you can feel lost, no matter your bank account balance."
- "When you think about your identity, try to think about something other than what your business is."
- "I want to have my identity rooted in something that can never be taken away."
Recommended
Transcript
Introduction to The Uncommon Wealth Podcast
00:00:02
Speaker
Everyone dreams of living an uncommon life and the best asset you have to achieve your dreams is you. Welcome to the Uncommon Wealth Podcast.
00:00:14
Speaker
We're going to introduce you to people who are living uncommonly. We're also going to give you some tools and strategies for building wealth and for pursuing an uncommon path that is uniquely right for you.
Episode Focus: Financial Topics and Uncommon Life
00:00:29
Speaker
Hello everybody, welcome to the episode, another episode, of the Uncommon Wealth Podcast, where I'm your host, Philip Ramsey, and we're gonna talk about things financial, things about running a business, things about living your own uncommon life, and this one is no
Entrepreneurs and Identity Issues
00:00:43
Speaker
different.
00:00:43
Speaker
um This one actually is one that I wanted to talk through, because I think a lot of times business owners and people who are starting a business, people that going down this uncommon path, um they do struggle with, and it is,
00:00:57
Speaker
Putting all of your identity in your business. It's a little bit like parenting. um And as you pour over your kids and then they go to college, you have this kind of like an identity crisis when they leave. Like, who am I? All I've been doing is trying to focus in on my kids, running them from event to event.
00:01:16
Speaker
And there's times where you have to look back and be like, who am I? So I had this conversation with individual mine, great friend of mine, and he sold his business. And about three weeks later, we had a podcast with him actually as well. um He had a complete mental breakdown, um complete like just spiraling.
00:01:38
Speaker
And in that interview, we talked about, hey, what happened? And ah both him and his business partner that also had a mental breakdown three weeks after the whole business sale was closed, they they They both kind of talked through what they thought happened, and they talked about how much they were running hard or how fast and hard they were running while they were running their business.
00:02:00
Speaker
And they neglected some of the mental and strain, stress that they were carrying while they were running a business. The other thing that we just, because I have a relationship with this individual, so we we talk from time to time. And now it's been a year, maybe a year and a half past the
Redefining Identity Beyond Business
00:02:20
Speaker
cell. And what he believes is he wrapped all his identity up into his business. And so afterwards, when he sold his business, when he would talk to people, he had nothing. he didn't know what to say. Like, well, what do you do? And so.
00:02:34
Speaker
He used to be able to very easily articulate that. And now he didn't have the identity of running a business. And so you can just tell mentally when you pour yourself into something as much as a business, a business is truly like raising a kid.
00:02:50
Speaker
You go through the ups, you go through the downs, but at the end of the day, you love it. And when you don't have that anymore, no matter what your paycheck or what your bank account is, what the amount of money in your pay bank account it can it can really mess you up. So I think the the struggle or the downside of sometimes running this whole uncommon path or uncommon direction is that you wrap all of your identity up into it.
00:03:15
Speaker
And so what does that look like not to do that from an every day-to-day standpoint? When somebody asks you what you do, it might not be anything about your business.
Embracing Complexity and God-Given Gifts
00:03:24
Speaker
um I get to be a father, right? I get to be a husband. i could be a good friend. um I get to be a child of God, but whatever your response is, but maybe start that response sooner than later. So you don't have all of your identity tied up in your business because we're way more than just business owners um or running business.
00:03:45
Speaker
a business, we have way more complexity than that, especially uncommon folks that I get to interact with. And the value and the gifts that God's given to people ah that I've witnessed and I've been able to walk side by side with, they have so much more value than just running a business.
Reflecting on Personal Values and Growth
00:04:03
Speaker
That's a component.
00:04:04
Speaker
But there's more to a person than just that. And so when you think about your identity, try to think about something that other than what your business is. And trust me, I am guilty of this as well. So I'm kind of preaching to the choir here, but I feel like that's a lot of times what I do is what are the things that I feel like God's teaching me? And I want to be have my identity in him and all the ways that he's kind of wired me.
00:04:27
Speaker
I want to have that rooted in me. And that can never be taken away. Even if it's like competition is something. Well, I've lost the ability to walk for whatever reason, maybe.
00:04:37
Speaker
But if your identity is wrapped up in something, it can be scary when that thing's taken away. So something to reflect on as you're going throughout your life, listening to these podcasts. I want this to be something where you just take a step back and be like, okay, what is my identity? And how would I respond to that? And maybe start training your brain to start doing that.
00:04:57
Speaker
That's
Conclusion and Future Episode Teaser
00:04:58
Speaker
all I got. Thanks for listening. Until next time, figure out what your identity is and go uncommon. Thanks for listening. That's all for this episode brought to you by Uncommon Wealth Partners.
00:05:10
Speaker
Be sure to visit Uncommon Wealth.com to learn more about our services. Don't miss an episode as we introduce you to inspiring people who are actively pursuing an uncommon life.