Blog #5 - The Three B's

Blog #5 - The Three B's

 

Hello and Welcome Back!

 

It’s been a while since my last post, but I’m excited to share that I’ve written a two-part blog series that will be coming soon.

Recently, I watched a YouTube video that delved into work partnerships, contracts, and relationships—particularly the idea that working for free isn’t always a bad thing. This video brought back a flood of memories from my time in business school. After class, I’d often visit my grandfather's house, where we’d talk about business—his stories, philosophies, and the decisions he made during his successful career as an entrepreneur in Prince Edward Island, Canada.

He had a unique perspective on the value of relationships and work.

Before diving deeper into that, let’s take a step back and address why working for free can be such a controversial concept. The common business mindset is “Time Equals Money.” Most entrepreneurs would agree that time is a valuable asset. So, why would anyone invest effort into a project without being compensated? My grandfather, however, offered a different argument.

The Three B's: Bridges, Books, and Bank Accounts

This concept, which I rediscovered in the video, was something my grandfather often spoke about. He believed that in both business and life, there are three key elements to focus on: Bridges, Books, and Bank Accounts.

Bridges

“Bridges” represent relationships. My grandfather loved meeting people, learning their stories, and connecting on a personal level, I'm the same way and I believe he is where I get that attitude from. He believed that relationships are often more valuable than money. Building a “bridge” with someone creates trust, loyalty, and friendship—assets that can prove invaluable in the long run.

For example, let’s say a friend needs help with a video project, and I take the time to help them, using my equipment and expertise. While I’m not getting paid for my time, I’m building trust and strengthening that relationship. In turn, I know I can rely on that friend in the future, if and when the time comes. Plus, I gain experience in the process. These bridges create opportunities that money simply can’t buy.

Books

“Books” refer to the knowledge and experiences you accumulate. Imagine if your life were a book; every action or story would fill its pages. Over time, those experiences build a wealth of knowledge, becoming tools you can draw upon in the business world. Whether you see them as arrows in a quiver or tools in a tool belt, these “Books” are essential for personal and professional growth and end up making your time even more valuable in the long run.

Bank Accounts

Finally, “Bank Accounts” are exactly what they sound like—projects and opportunities that pay you. While this is often the most straightforward of the Three B’s, the bank accounts portion is the most important in the long run as money is what allows businesses to thrive and do bigger and better things.

Balancing the Three B’s in Business and Life

My grandfather’s philosophy resonates deeply with me. While money is important, developing relationships and knowledge are invaluable. In every endeavor, aim to gain at least one of the Three B’s. Sometimes, you might even achieve two or all three with every personal or business transaction. Regardless, if you’re intentional in seeking value, you’ll find that your efforts are always worthwhile.