More Than WE Know

Do you have a goal of someday becoming one of the “Nouveau Riche” ? 

The term literally means “New Rich” and refers to people who have made wealth in their own generation, moving themselves up the socio-economic scale.

In times past, the term has been used somewhat disparagingly to describe people with more money than class. But in the 21st century that image has started to change, largely due to the work of successful entrepreneurs who have gone on to decide that “new money” gives them “new opportunity” to help the world at large.  

Consider:

Oprah, founder of Harpo who has given more than $40 million in donations to her Leadership Academy Foundation.

Anita Roddick, founder of the Body Shop, who was involved in numerous charitable causes throughout her life and left her entire $101 million fortune to charitable organizations upon her death in 2007 

And it’s not just the mega-rich who are giving to others.  A survey by the National Foundation for Women Business Owners  found that 50% of Women Entrepreneurs with a net worth of $1 million gave $10,000 annually to charitable organizations (vs. 40% of male entrepreneurs) 

At times I find that Women Entrepreneurs are reluctant to define their goals for success in terms of money. They prefer to speak of wanting to follow their passions, have increased flexibility in their schedule and more time for their family.  All of that is well and good, but it doesn’t mean that you can’t also make money.  In fact, going into business to make money, can only help you have more flexibility and opportunity for your family.  And the best way to make money is to follow your passion.

For some examples of people who have followed their own unconventional passions and have ended up generating millions if not billions, read this  Fortune article on the Nouveau Riche, “The Billionaires”.

In particular check out the lives of Estee Lauder   and Grete Schickedanz, two women entrepreneurs who  went from humble beginnings to become billionaires in their lifetimes, leaving thriving international businesses as their legacy.

And for other inspiration on self-made millionaires, read this CNN Money article on ways to make a million or even a billion to become  Nouveau Riche yourself.

The bottom line is that as Women Entrepreneurs WE need not set our goals modestly or our expectations low.  With money comes the power to do good for ourselves, for our families, for our communities and for our world. 

So what do you say, anybody setting their goal to become one of the New Rich?

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