When we think of business, we think of an almost myopic focus on the bottom line; basically how much financial profit the organization is making.
But, today many corporations now follow a triple-bottom-line strategy in which the goal is to maximize not only financial profit, but also to create positive social and environmental impacts.
Rather than focusing solely on one success metric, there are three, or more.
Of course we can argue whether or not much of this is simply virtue signaling, but either way I think there is much to be gained from incorporating this concept into your personal life.
In my experience, many people in professional circles are rapidly climbing the corporate ladder, they're in their peak earning years, and they are enjoying the benefits of high-status jobs. However, the financial and career success oftentimes comes at the expense of mental and physical health, time freedom, and an ability to express one's self freely.
Success in our culture is almost exclusively measured in monetary terms or in monetary equivalents. We are quick to celebrate being promoted to VP, attaining a degree from an esteemed institution, or buying a bigger home all while neglecting the epidemic levels of decline in other areas of life that are absolutely vital to long and fruitful lifespan.
Yes, our money is up... but so are our rates of chronic metabolic disease, depression, anxiety, and loneliness.
In other words, we seem to over-index on manmade measures of success at the expense of the biological markers for success.
While this type of lifestyle may be normalized and celebrated in the US, I would argue that it borders on insanity, as I can make a very strong argument that time freedom, physical fitness, mental health, and strong social connections make for a much higher quality of life.
Of course the point isn't to completely neglect the wealth aspect. However, similar to corporations that follow a triple-bottom-line strategy, my humble opinion is that individuals who elevate the other non-monetary aspects of life to the same level of importance as monetary success stand to enjoy the benefits of being more well-rounded people who will also be happier, healthier, AND wealthier in their own unique way.
In Bronnie Ware's book, "The Top 5 Regrets of the Dying," she mentions the heaviest regrets among her palliative care patients who were faced the realities of their inevitable demise:
I wish I had the courage to be true to myself
I wish I hadn't worked so hard
I wish I had the courage to express myself
I wish I had stayed in touch with friends
I wish I let myself be happier
I see each of these regrets to be a direct result of over-indexing on conventional success markers while neglecting the other important aspects of life.
My question for you, is "are there any areas in your life where you are neglecting or deprioritizing something that is gravely important?"
If you were to take a "triple-bottom-line" approach to life, then which less conventional success metrics would you elevate to the same level of importance as the conventional measures of success?
Below is a brief clip where Winson and I discussed this matter in a bit more detail during the July personal finance collaboration call.
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