What do you do when one of the second generation is not compatible with the rest of his/her siblings? This can pose a problem when that child is serving in a responsible role within the business or if that child is a shareholder. Let’s discuss each of these scenarios. In a business, diverse opinions can […]
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If your business hires entry level employees, this environment may present a great opportunity for your children to learn about the family business from the ground up. Only then, can they appreciate the challenges, breakthroughs and corporate goals and objectives of the business that they, one day, could own and work in. Remember to try […]
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The journey through succession is unique and fraught with bumps. The goal is simple; ensure an orderly transition of your business, governance and wealth to the next generation(s). However, you can expect that due to personalities, communication styles and differing interests, you will encounter some challenges. This is normal. I liken the succession journey to […]
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You may ask yourself, what does an accountant know about branding? and the answer is not much – that is not how my left brain works… As in many areas, I thirst for knowledge and remain a student with a continuing quest for knowledge. The internet, Reddit and yes, books can be great sources of […]
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Do you have the responsibility to raise children (could now be adults) so that they are prepared to inherit wealth? A mere $ 42 trillion will be passing to the next generation in the next 20-30 years. If you do not take active steps to get them ready for the responsibility that wealth brings, then how will these children otherwise get prepared? Many parents try to raise their children and share their values. Do you as parents also talk about financial literacy?
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