If I asked you, “What's yours LEGACY?” What would you say? Is it your family, your wealth, a foundation you have created or, if you are a entrepreneur or the business owner, the company you created that defines who you are and how you will be remembered?

For many people in the business world, this is a question they don't begin to ask themselves until later in life. Early in our professional lives, we tend to focus on short-term results, hard work, and doing whatever it takes to get our business going. profitable. Often, this stage of life requires managing the day-to-day challenges of running a business while starting or raising a family.

In my experience, few of us ever take the time to look at where we want to be in the long-term future and what our legacy will be. But I believe it's just as important to consider these questions early in life – not just when we're older and after our children have grown up and left home.

Ultimately, it's a matter of finding out fulfillment. But too often, we focus on fulfillment as an end goal: selling your business after decades of hard work, providing a comfortable retirement and having the means to support the family after you are gone. Most of us long-term goals are anchored in financial success. While these are certainly important goals, I have worked with dozens of successful entrepreneurs who have achieved extraordinary levels of business and financial success, but remain grounded. incomplete.

Many of the same entrepreneurs I've worked with go through life checking boxes, from starting and selling a business to buying a second (or third or fourth) home, buying the real-life sports car they had once had on their bedroom wall. poster growing up or traveling to East Africa to see the Big Five. Many of these actions or purchases are under the guise of seeking happiness, security, or significance.

Related: Unlock the key to a more fulfilling life in 3 easy steps

Best-selling author and Harvard professor Arthur Brooks calls this the “bucket list trap.” We all know about the bucket list; many of you may have one. This is the list of all the things you want to see, do and earn before you die.

As Brooks writes in From Strength to Strength: Finding Success, Happiness, and Deeper Purpose in the Second Half of Life, there's a danger that your sense of purpose and meaning can fall by the wayside as you pursue items on your list to say you've done it, not for the fulfillment they'll bring you or the impact they'll make on the world.

To be clear, there is nothing wrong with the pleasure of following one bucket list. If you dream of hiking Machu Picchu or buying your dream car, go for it! Just don't do it for the sake of ticking boxes, as, in my experience, it rarely leads to fulfillment.

Finding fulfillment It may seem like an intangible goal – is it providing for your family, building wealth, being philanthropic or protecting the environment? It's such a broad and nebulous topic that when I work with clients, I try to break it down into two parts: the internal goal and the external goal.

In their simplest forms, intrinsic purpose refers to living as the best version of yourself, and extrinsic purpose is about living for something greater than yourself.

Inner Purpose: Authentic Self-Alignment

The inner goal is to live as the best and most authentic version of you. It involves harmonizing your mental, physical, spiritual and emotional well-being. When these four areas of your life are balanced, you create a foundation for awareness and self-connection, which are essential components of fulfillment. ABOUT business owners and entrepreneurs, the focus should be on:

1. Mental well-being: Cultivate a mindset of growth and resilience. Engage in continuous learning and personal development. Try to manage the constant stresses of running a business and managing your life mindfulness practices and a focus on maintaining a positive outlook.
2. Physical well-being: We can never focus enough on our physical health. It is truly the most important thing that supports our ability to fulfill our purpose and find fulfillment. Regular exercise, a healthy diet and adequate rest are all crucial, but often the first things we sacrifice in busy times. A healthy body supports a healthy mind, enabling you to perform at your best in all areas of life.
3. Spiritual well-being: Connect with your core values ​​and beliefs. This can include meditation, reflection, or engaging with a community that shares your values. It doesn't have to involve yoga retreats or vision quests—it can be as simple as joining a golf club or going to church. Spiritual well-being provides a sense of purpose and direction, often anchored by a connection to a community.
4. Emotional well-being: Foster emotional intelligence by understanding and managing your emotions. Build strong relationships with friends, family and even peers in the business world and seek their advice and support when needed. Emotional health is key to maintaining balance and making informed and thoughtful decisions.

Related: 10 ways to be an authentic entrepreneur and sell your best self

Extrinsic purpose: Connection and contribution

The outer purpose is to live for something greater than yourself. It involves fostering connections and making meaningful contributions to your family, friends, community and world. For business owners and entrepreneurs, this should be anchored in:

1. The family: Make sure your business supports and enhances your family life – not the other way around. Building a successful business or organization often requires us to sacrifice time with our family. In small amounts, this can work, but in the long run, there needs to be a balance between your professional and personal responsibilities. It's a balance I've struggled to achieve over the years, but it's essential to personal fulfillment and business success.
2. Friends: Build a network of supportive friends and colleagues. Share your journey with them and offer support in return. Strong relationships provide a unique level of fulfillment and build networks that can support and grow your business. Beyond my immediate family, it is my friends who continue to inspire and motivate me.
3. COMMUNITY: Become an active member of your local community – be it your home state, city or neighborhood. Attend local sporting events and charity events, support community projects and give back through volunteer work or sponsorships. Be visible in your community, which will help you on both your personal and business end.
4. world: Consider the wider impact of your business on the world. Are you contributing to a better planet and a better future, or are you taking out more than you contribute? Implement sustainable practices, support social causes and aim to create products or services that contribute positively to society. A business with a strong external purpose can attract loyal customers and partners who share your values.

The cycle of positive reinforcement

When you live authentically and take care of your own well-being, you are better equipped to connect with and contribute to the world around you. These external connections and contributions, in turn, reinforce your inner sense of purpose and well-being.

I strongly believe that if you incorporate the concepts of intrinsic purpose and extrinsic purpose into your personal and business life, you will create a positive cycle of reinforcement that creates a legacy anchored in personal fulfillment while making a meaningful impact in the world. What could be a better legacy than this?