Category: Family Legacy
Self care – my weekly perspective
We all are busy. Are you taking care of yourself? This post pandemic and seemingly exhausting...
Read More
It’s about taking risks – maybe not a do it yourself project, my weekly perspective
Today, I am writing about you and your family interactions, mostly as it relates to the family business. Risk taking in your family communication is not easy to do. Having difficult conversations can let you and the business thrive. Not having difficult conversations could stifle and hold back the business.
Read More
Where to look for a successor – what if a family member is not interested? – my weekly perspective
Not all family businesses are destined to remain within the family. This is an unfortunate reality and the stats prove this fact out. Only about 50% of family businesses remain within the family after the second generation and about 15% stay with the family after the third generation. Sobering statistics. Depending on the size of […]
Read More
Financial literacy and your family – my weekly blog
We were all brought up uniquely with different values. This becomes apparent especially when money and wealth are involved. And this can become apparent in a relationship. One of the leading reasons for separation and divorce is over money, often because in some families, it is a taboo subject, not to be discussed. Misunderstandings can […]
Read More
The family black sheep – what to do? – my weekly perspective
What do you do when one of the second generation is not compatible or worse, is in conflict with the rest of their 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 […]
Read More
Your stories and history – my weekly perspective
story telling has three purposes:- to pass on the family/cultural history through stories- to actually experience listening to the stories between the generations, and- to lead the family by telling the stories, the process of telling the stories being equally important as the stories themselves.
Read More
Rip off the band aid – my weekly perspective
Many times, I have seen family disputes arise, over money. Often at the peril of family unity. Why does this happen? Hurt feelings, love being equated to money, power and most commonly some prior and as yet unresolved family dispute. First off, fair does not mean equal. Read more here: An article on this topic The […]
Read More
Storytime, telling the family story – my weekly perspective
Every family has a story and every business has its beginnings.
Read More
Educate – financial literacy of our children. My weekly perspective
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?
Read More
Taking time to reflect – my weekly perspective
Life is short so take advantage of the time that you have. Make sure you pause to savour the moment and the precious time with the people who really mean something to you. Why am I so reflective? Three people who I thought I knew reasonably well, have passed on, unexpectedly, right in the prime […]
Read More
Sudden wealth syndrome – some thoughts, my weekly perspective
“If a man is proud of his wealth, he should not be praised until we know how he employs it.” – Socrates I have seen this same story replayed too many times. A family sells its business and is left with two burdens, a lot of money and a sizeable tax bill. The lead up […]
Read More
Asset allocation – should I review this for my family enterprise? – my weekly perspective
Do you have any idea of how much of your family’s worth is invested in your family business? What about other assets which have a meaningful value? Here in Vancouver (Canada), I have seen the net worth of families grow exponentially because of our long and significant increase in real estate values. This increase has […]
Read More
Recent Comments