The best thing about financial freedom isn’t what you can buy with it. It’s what you can give and make possible – for you, and for others.
There was a time in my life when I had plenty of money and thought that meant I had plenty of security. Then I lost almost all of it. I lost money, confidence, and a whole lot of the certainty I thought I had figured out. What I didn’t understand yet was this:
Having money and having financial stability are not the same thing.
And here’s another lesson I’ve learned since then: generosity feels very different when you can give without putting yourself in danger.
Entrepreneurs are in a uniquely powerful position to give back. We can create jobs. We can support customers. We can invest in our communities. We can donate money through our businesses. We can use our platforms to amplify a cause. We can open a door for someone who needs an opportunity.
But we can also give something much more personal: our time, our attention, our experience, our encouragement.
The trick is making sure we’re giving from a place of intention rather than desperation.
You Can’t Give What You Don’t Have
I know this sounds almost painfully obvious, but entrepreneurs are exceptionally good at ignoring obvious things.
We’ll give the business every dollar.
Then we’ll give the business every hour.
Then we’ll give our customers our evenings.
Then we’ll give our employees our attention.
Then we’ll give our families whatever scraps are left over.
And somehow we convince ourselves that this is generosity.
Sometimes it is. Sometimes it’s just exhaustion wearing a charitable hat.
The old me thought that if I could just make more money, everything would eventually become easier. But when I built businesses that generated significant revenue without creating lasting profit, I discovered that more money coming in doesn’t necessarily mean more money available to give.
If every dollar has already been claimed by payroll, taxes, vendors, debt, expenses, or the next big idea, there isn’t much left for generosity.
That’s one reason I care so much about profit.
Profit creates the ability to live the way you want – and give the way you want.
Profit creates breathing room. It gives you the ability to handle an unexpected expense without immediately panicking. It allows you to pay yourself. It gives you the ability to say yes to an opportunity…or no to one that doesn’t make sense.
And sometimes, it gives you the ability to give back.
That’s a pretty good use for profit.
Give From Strength, Not Strain
Have you noticed that there is a weird pressure around generosity? As though being a good person means saying yes to every request, every fundraiser, every favor, every opportunity to help?
I don’t believe that.
If giving leaves you unable to pay your bills, support your family, or keep your business healthy, that isn’t sustainable generosity. That’s financial self-sabotage.
And I know something about financial self-sabotage.
After I lost my wealth, my nine-year-old daughter once offered me her piggy bank (you’ve probably already heard this tear-jerker of a story…). She wanted to help support our family.
That moment absolutely crushed me. Not because she was wrong to want to help. Quite the opposite. Her generosity was beautiful. But a child should not have to think about rescuing her father financially. That experience changed how I thought about money, responsibility, and what it means to provide.
Generosity is wonderful.
But so is building a life where the people you love don’t have to sacrifice their security for you to be generous.
That’s why I want you to think about generosity as something you build the capacity for.
First, take care of the foundation. Then give from what you have built.
Your Business Can Be a Giving Machine
Owning a business means you have something most people don’t: a vehicle that can continuously create resources.
That means your generosity doesn’t have to come from your personal checking account every time.
Your business can give, too.
Maybe you:
- Donate to a local organization
- Donate a percentage of profits to a cause you care about
- Provide a service to an organization that couldn’t otherwise afford it
- Hire someone who needs a second chance
- Give your employees paid time to volunteer
There are countless ways to give back.
Your business can create something that money alone can’t: opportunity.
So the narrative changes from, “What can I afford to do?”, to “What can this business make possible?”
You don’t have to be a billionaire to have an impact.
You just need to be intentional about where your resources go.
Your Personal Money Matters, Too
Your business might be healthy while your personal finances are a mess. I’ve been there, too. It’s easy for entrepreneurs to think, “If the business is doing well, I’m doing well.” Not necessarily. Your personal financial life needs structure, too.
You need money set aside for the things you know are coming. You need protection against the things you don’t. You need money for the life you want to live, not just the business you want to build.
When your personal finances become healthier, you become less afraid.
You have choices.
And when you have choices, you have more capacity to give.
This is the lesson: Financial freedom isn’t just about accumulating more. It’s about creating enough stability that money becomes a tool instead of a source of constant stress.
What Do You Want Your Money to Make Possible?
I want you to think about your money a little differently.
Instead of asking only, “How much do I want?”, ask:
“What do I want my money to make possible?” For instance, my mom has an envelope for this very purpose (ok, my mom has a lot of envelopes; she’s the GOAT of Profit First, I tell ya!) My mom is known for tipping gas station attendants. Not because they do anything out of the ordinary, but just because she wants to make their day. You can choose your own giving opportunity. Maybe it’s:
- taking care of your family
- helping your kids start their adult lives without carrying a mountain of debt
- taking a real vacation without checking your bank account every morning
- supporting a cause you care about
- helping a friend who is going through a hard season
- giving an employee a bonus when they really need it
- quietly paying for someone’s groceries and never telling them it was you
There doesn’t have to be a giant announcement. In fact, some of the most meaningful giving I’ve ever seen happens quietly. That’s the beauty of having your financial house in order. You get to decide.
Give Money. Give Time. Give Yourself.
Money is only one form of generosity. Sometimes what someone needs most is your attention. I’ve had people change the trajectory of my life simply because they were willing to sit with me, tell me the truth, introduce me to someone, answer a question, or give me another chance when I wasn’t particularly impressive.
You can do that, too.
Share what you know.
Make an introduction.
Mentor someone.
Hire someone who doesn’t have the perfect résumé.
Recommend a small business.
Listen when somebody needs to talk.
Buy lunch.
Send the encouraging text.
Give someone a chance to surprise you.
You may think those things are small. They aren’t always small to the person receiving them.
The Goal Isn’t to Have Everything
I’m not suggesting you wait until you have “enough” before you become generous. Because if you do that, you may be waiting forever. There will always be another goal. Another expense. Another investment. Another thing you want to improve.
Instead, I want you to build generosity into the life you’re already creating.
Give what you can. Give where it matters.
The amount isn’t the point. The intention is.
There’s More Than Enough When We Stop Thinking Only About Ourselves
I don’t think entrepreneurship is just about creating wealth. I think it’s about creating possibility. Possibility for you, your family, your employees, your customers, and, if you choose, possibility for people you may never meet. That’s a pretty incredible privilege. But it comes with responsibility. Build a profitable business. Take care of your personal finances. Create some breathing room. Know what you need. Know what matters to you.
Then look around.
Who could use some of what you’ve built?.
Maybe it’s simply saying to someone who needs to hear, “I believe you can do this.”
You don’t need to save the world.
Just make your little corner of it better.
And when you have enough to take care of yourself, your family, and your future, you get something even better than financial freedom.
You get the freedom to give back.
That, to me, is one of the best things money can buy.
You’ve got this.
-Mike
