Family Business in Flight

November 29, 2015Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting

I was recently flying with my wife and we were discussing how hard the flight attendants worked and how rude some passengers on flights can be. I worked as a waiter in college and grad school which has much of the stress of being a flight attendant with much more space to move around easily in order to get the job done and also to escape rude people! The kitchen can be a safe haven (unless the chef is in Read more »

Raising a One Year-Old Millionaire

October 28, 2015Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting

In my work with enterprising families I spend a lot of time with parents who are concerned about how their financial success will affect their children. Almost universally there is concern about children being negatively affected, becoming spoiled, unmotivated, feeling an unhealthy sense of entitlement to the wealth their parents (or family members even before parents) have created without having to earn it. There is a lot these parents can do to have a powerful, positive impact – starting when Read more »

Carlos Santana (& Son???)

September 28, 2015Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting

Last month I got great seats to a Santana concert at the PNC Bank Arts Center (formerly known as the Garden State Arts Center) in Holmdel, NJ. I worked security there the summer after my freshman year of college (too many years ago) and when Carlos Santana and band played the summer of 1985 (THAT many years ago…) I got to sit a few rows from the stage as Carlos warmed up (amazing!) and experienced the entire show next to Read more »

Birthing a Family Business CEO

August 26, 2015Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting

So, you’ve found a way to procreate and give birth to offspring particularly well suited to becoming a CEO – specifically, able to take over your family’s [enter type of business here] business. This child has been born with all the necessary skills to take over and grow a business in your industry. How exactly does this happen? Does the Kama Sutra give direction in special acts to obtain this result? Is there a laboratory DNA intervention that can effect Read more »

Gandhi & Family Business Truth

July 15, 2015Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting

I am currently two-thirds of the way through Gandhi’s autobiography (Gandhi: An Autobiography, The Story of My Experiments with Truth). What an amazing man; he details his struggles – triumphs and failures – as he seeks a deeply spiritual and honest life. I am in awe of his commitment to serving others and the sacrifices he was willing to make along the way. I did not know much about the specifics of his life before reading this and I am Read more »

The Proactive Mindset

May 28, 2015Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting

In my work with enterprising families I get to see a lot of heart-warming situations. Parents, siblings, cousins, aunts, uncles, grandmas and grandpas develop rising generations and build on the generation(s) before them, combining family life and economic life in a way that brings out the best of both. These families have a way of seeing many possibilities for how the future can play out and they embrace them over time, sifting and sorting through them, looking at pros and Read more »

Raising a Two-Year-Old Millionaire: Please, Thank-You, I’m Sorry and the Golden Sippy-Cup Rule

April 29, 2015Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting

For legacy families and financially successful business families thinking about having kids or actively raising them, there are almost always concerns about children becoming spoiled, lazy, self-absorbed and – the grand fear of all – entitled. Truth is, pretty much every parent wants to avoid these things -regardless of financial resources. What poor, working-class and middle-class parents have on their side is the fact that there is simply not enough money for kids to do nothing at all. Wealthy families, Read more »

Family Business & Ice Hockey

March 30, 2015Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting

If you’ve read this blog for any length of time you may have noticed I have a tendency to find relationships between family business and ice hockey. For example my March 2014 blog entitled, “ Women in the Family Business (and Pro Ice Hockey for That Matter)” attempted such a connection. I play in a men’s league and coach my 13 year-old son’s team and love it all. Last week my son’s team won in triple overtime to advance to the championship game which was this past Sunday. Unfortunately, the timing was Read more »

Don’t Miss Out On Early Chances To Engage Kids

February 21, 2015Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting

Please take a look at my article in Family Business Magazine about engaging children early in discussions about family business/family wealth. Over the years in my clinical work as a family therapist working with parents and kids around tough issues such as death, illness in a family member and divorce, to name a few, I’ve come to realize that any topic can be discussed with even very young children if approached in a developmentally appropriate manner. Wealth is no exception. I hope you’ll take the Read more »

Ethical Wills – A Very Personal Example

January 11, 2015Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting

Ethical Wills are not legal documents (although the name might have a legal ring to it). These are a powerful way to communicate love, wisdom and values to your children and grandchildren – even if they have not been born yet! Here is the one I wrote; try your hand at writing your own. Ethical Will to: Jeremy & Matthew Savlov Written by: Jeff Savlov – 48 years old Married father of 2 boys (Jeremy-16 & Matthew-13) Written – 2014 To Read more »