Cerulli, an advisory firm to the high net worth families, tallied an estimate that showed $ 68 trillion (yes 12 zeros) will pass down from one generation to the next over the next 25 years in the US. This is significant. How will this wealth be divided within and between the heirs and what will […]
Read More
One conundrum facing many family businesses, is to determine, if and how much to support non-core business investments with cash from the business. Often this issue arises in the 2nd generation of a business when the children, may not want to actively participate in the actual business. Many parents indulge their children and will support […]
Read More
A malaise, no an epidemic, is spreading across the nation. The contagion….money. There are plenty of young (and some not so young) people who have had a great life, all thanks to the hard work and good fortune of prior generations. Many do not appreciate how fortunate they are and take the wealth for granted. […]
Read More
Why? Succession is the important yet often overlooked aspect of family enterprises. Wealth can be a blessing and a burden at the same time. As a consultant to family enterprises for the last quarter century, I have learned some helpful tips about what steps can be taken to ease the transition of a business from […]
Read More
Transferring knowledge about your business takes a long time. You have to start right away. My suggested first step, documentation. Your business is complicated and has lots of moving parts: 1. Suppliers 2. Employees 3. Customers 4. Production methods 5. Intellectual property 6. Accounting and record keeping systems …and most importantly your brand. We will […]
Read More
Recent Comments