Money, as the expression goes, is what makes the world go round. It is an essential aspect of day-to-day life. It pays the bills. It opens up the possibility of experiencing different events and situations. It’s also the solution to many – if not all – problems that a business may face.
Due to its importance, it might seem trivial to ask if character plays a greater role than money. However, when you look under the surface, it becomes clear that the question is one worth asking.
This article will look at the two elements as individual entities, explore how they are intrinsically linked, and why both being on the same page is significant for success. It will also attempt to answer the big question: What is more important: money or character?
What is money?
Everyone is aware of money and its function in life. In simple terms, it is an item used by people to purchase goods and services.
For a business, money is its lifeblood. If there’s no cash, there is no business. It pays for all the expenses needed for a company to function, such as rent, stock, marketing materials, and employees. Revenue also needs to be generated to not only keep the cycle going but also for you to earn a living.
There’s one significant issue with this: earning money is temperamental for any business. Everything can seem to be going fine at one point, and then revenue figures suddenly nosedive. This can be caused due to a wide manner of reasons – from the competition offering products at a lower price to your character coming under scrutiny.
What is character?
Character can be summed up as how someone feels, thinks, and behaves. It is their personality and essentially the foundation for everything else that follows.
The important aspect to remember about character is that you’re in total control. These are moral qualities that can only be changed by you. This makes it different to your reputation which is down to public perception.
With that said, character can have a substantial effect on your reputation. In fact, they should align with one another. If you were to, say, make a poor decision that shone a negative light on your business, this is going to instantly harm the reputation you have built up. This will then, ultimately, damage your profitability.
Yet one or two lapses in judgment aren’t going to define your character. Certain misguided decisions will be more troublesome than others for your business but remember, everybody makes mistakes. If your character remains strong, your business is likely to navigate any issues and continue being successful.
How money can alter your character
Money changes people. There’s countless evidence that backs that statement up. Yet its mileage will vary from person to person. Several socioeconomic factors may be added to the equation, including education level, race, age, and location. Perhaps most importantly is your general attitude towards money.
It doesn’t matter if you’re currently on the breadline or were born wealthy. Money can have a notable part to play in the way you act. Sadly, it may cause you to have an inherently negative viewpoint.
If you have a business that is struggling to pay the bills, this could result in feelings of resentment and hopelessness. On the opposite end of the scale, those with an abundance of money can suffer from isolation and a lack of compassion.
However, there are ways in which you can not only avoid any negative pitfalls but turn it into a positive aspect of your character. Donating money to worthwhile causes is an obvious way of boosting your empathy. Yet simply having a social circle with friends across all income levels can enhance your moral judgment.
Ultimately, money can have both a positive and negative impact on your character – and there’s no exclusivity to either disposition. You can, for instance, have compassion alongside feelings of bitterness. Nevertheless, you should do what you can to develop an upbeat outlook toward money. A healthy mindset will assist with running a healthy business.
How character can alter your money
In the same way that money can impact your character, it also goes in the opposite direction. Your character can also alter the amount of money you earn, either in a negative or positive manner.
Keep in mind that even those who have questionable character can disguise this from the general public. Yet this also opens the door to problems happening later on down the line. If your true character comes to light following a period of deception, this will be particularly damaging to your business – and profitability – on the whole.
With this in mind, it’s imperative you have a strong character in place. The better your character is, the easier it will be to generate money. Consider the following benefits:
• Easier to gain trust: If your character is built from a foundation of integrity and honesty, it will be easier to get others to trust you. The result: you will be more successful with the likes of business dealings and employee interactions.
• The right attitude to overcome: A positive attitude can go a long way to overcoming whatever problems you face. It will help you remain organized and willing to tackle issues head-on.
• Stay on the right side of the law: If you possess a negative attitude towards regulations, your business could end up breaking certain rules. This could lead to all kinds of issues, such as lengthy fines and bans.
• Attract more customers: With all the above points considered, you will naturally draw in more clients to your business.
In conclusion
Money will seem like the obvious answer when first asking what the more important of the two is. Yet as this article demonstrates, character has the same level of significance. Without good character, money will disappear. Without money, character will be deemed surplus to requirements.
When running your business, forget about placing your entire focus behind generating money. There needs to be a strong foundation behind it, and that starts with the right attitude and personality traits.
