Family Business Founder Blindness

May 26, 2016Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting

Entrepreneurs tend to be motivated, intense, creative, assertive and self-assured. Very self-assured, in fact – particularly when they have been successful growing a company (or several) and achieving the financial rewards that come with it. They tend to trust their guts which makes some sense since their guts have often steered them the right way- at least in business. That is the rub. The skills and intuition related to starting and growing a business are frequently not the same as Read more »

The NFL, Values & Wealth

March 24, 2016Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting

Chris Borland is considered “the most dangerous man in football” according to an ESPN article from last year. A San Francisco 49ers linebacker and former All-American at Wisconsin, Chris walked away from all of it at twenty-four years old. Why? He put his family and his health before money, fame and even the sport he loved and still loves. Fear of the cumulative effects of head trauma (his best guess is that he’s suffered thirty concussions) led him to assess what is Read more »

Family Business Learning Opportunity

February 21, 2016Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting

I am writing to offer enterprising families a great opportunity for learning and development. The Family Firm Institute (“FFI”) is a professional association for educators, researchers, consultants and allied professionals serving family businesses and wealthy families. In a nutshell, families sharing ownership, management and leadership of shared assets across generations. FFI has study groups around the country and I am part of an active and vibrant group which alternates meeting between Philly and Princeton. Recently we decided to try something new and we invited a Read more »

Family Business Questions for 2016

December 16, 2015Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting

It is that time of year when we tend to look back and review what has transpired, for better or worse, while looking toward the future with the hope of learning from past lessons so we grow going forward. Here are the top two questions I routinely pose to business families. Sometimes I’ll ask these outside of any specific context simply to see how families respond. Other times I’ll ask as families are struggling with a very specific challenge: How Read more »

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 »

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 »

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 »

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 »