EBVTT

 

00:00:16.725 --> 00:00:17.475

Hello and welcome.

 

00:00:17.475 --> 00:00:18.852

My name's Heath Henderson,

 

00:00:18.852 --> 00:00:22.647

Financial Advisor, Certified Financial

Planner and Certified Exit Planning

 

00:00:22.647 --> 00:00:26.443

Advisor with the Iron City Wealth

Management Group of Wells Fargo Advisors.

 

00:00:26.568 --> 00:00:28.445

Today I'm in Andalusia, Alabama,

 

00:00:28.445 --> 00:00:31.448

my hometown, and the home of Henderson

Sewing Machine Company.

 

00:00:31.781 --> 00:00:34.576

The business

my family's owned since its founding

 

00:00:34.576 --> 00:00:37.579

in my grandparents basement in 1968.

 

00:00:37.662 --> 00:00:40.540

I want to talk a little bit

about purpose today while I'm here

 

00:00:40.540 --> 00:00:43.835

in my hometown, where my purpose

began being shaped as a young child.

 

00:00:43.918 --> 00:00:48.673

Every human has the fundamental

need to feel like their life has purpose.

 

00:00:48.673 --> 00:00:51.801

And for business owners that we work with,

we often find

 

00:00:52.093 --> 00:00:55.096

that their purpose is intertwined

with their business.

 

00:00:55.638 --> 00:00:59.059

Understanding your personal purpose

will not only strengthen your business

 

00:00:59.059 --> 00:01:02.270

while you own it,

but it will allow you to thrive

 

00:01:02.270 --> 00:01:05.273

in life after you exit your business.

 

00:01:05.899 --> 00:01:08.026

Think of why you started your business.

 

00:01:08.026 --> 00:01:09.486

What were you trying to accomplish?

 

00:01:09.486 --> 00:01:14.532

What product or service or event or action

were you trying to create?

 

00:01:14.824 --> 00:01:16.993

Now think about life after your business.

 

00:01:16.993 --> 00:01:19.079

The same questions should apply.

 

00:01:19.079 --> 00:01:22.165

We all need a “Why?” to drive us.

 

00:01:22.457 --> 00:01:25.001

Seeking to understand

your purpose is not only beneficial

 

00:01:25.001 --> 00:01:28.922

for you, for those that are around you,

like your employees,

 

00:01:28.922 --> 00:01:33.134

your business partners, your customers,

but most importantly for your family.

 

00:01:33.843 --> 00:01:36.846

Your purpose plays

a crucial role in determining

 

00:01:36.888 --> 00:01:40.308

how to structure your exit

from your business, including

 

00:01:40.517 --> 00:01:43.520

when is the right time

to exit your business.

 

00:01:43.561 --> 00:01:46.856

In the more than 55 years

that my dad and his dad

 

00:01:47.023 --> 00:01:50.318

have led Henderson Sewing Machine Company,

their purpose

 

00:01:50.568 --> 00:01:53.571

has strengthened their business

and our family.

 

00:01:53.905 --> 00:01:56.783

They have passed down

their principles to our family

 

00:01:56.783 --> 00:02:00.411

and it's been a guide for all who

know us in life and in business.

 

00:02:01.037 --> 00:02:03.665

Our team at the Iron City

Wealth Management Group of Wells

 

00:02:03.665 --> 00:02:07.627

Fargo Advisors believes that our purpose

is to have a true

 

00:02:07.627 --> 00:02:11.714

and lasting relationships with our clients

that are forged together.

 

00:02:11.923 --> 00:02:14.509

Just as iron sharpens iron.

 

00:02:14.509 --> 00:02:17.595

Thanks for listening and joining me

in my hometown of Andalusia, Alabama.

 

00:02:17.846 --> 00:02:18.805

We hope you have a great day.