The Business of Family : How to Stay Rich for Generations

The Business of Family teaches readers how to write their own family business plan using time-tested strategies from the corporate world to provide a practical, user-friendly method that ensures their family knows where it's been, where it's headed, and how it's going to get there, How do families build and maintain their wealth? This question has challenged families for generations. In business, any wise entrepreneur would develop a plan to guide the venture. Though most people don't have a strategy in mind for their families, it is precisely what they need. This book applies business concepts to invest in our families with as much focus and discipline as we do our financial assets. The Business of Family teaches you how to write your own family business plan using time-tested strategies from the corporate world to provide a practical, user-friendly method that ensures your family knows where it's been, where it's headed, and how it's going to get there. Just like a company, a family must invest in its people, who require support, training, and commitment to a purpose. Just like a company, a family deals with unexpected challenges. Just like a company, a family needs laser-sharp focus on its goals in order to thrive. Linda Davis Taylor is the CEO of the nation's oldest investment advisory firm, Clifford Swan Investment Counsel, and she has seen first-hand how important it is for the family to be connected by a common purpose. With an unprecedented amount of wealth passing to the next generation, the opportunity exists to reverse the old 'shirtsleeves to shirtsleeves' proverb. Applying a business mind-set to your family strategy will help you do that. The Business of Family is not a business book about how to make money. The Business of Family is about the most important business of all-your family Front Matter....Pages i-xi Introduction....Pages 1-5 Front Matter....Pages 7-7 Strategy: A Blueprint for Your Family....Pages 9-20 Mission: Keeping Your Family on Track....Pages 21-41 Vision and Values: Put Family Members and Principles First....Pages 43-53 Front Matter....Pages 55-55 Forging Family Partnerships....Pages 57-67 Setting Goals and Celebrating Milestones....Pages 69-78 Every Family Member Matters: Roles, Responsibilities, and Making Decisions....Pages 79-88 Front Matter....Pages 89-89 Family IQ: Education and Training....Pages 91-101 Family EQ: Getting Along to Get Ahead....Pages 103-112 Family Audit: Guidance and Mentoring....Pages 113-121 Front Matter....Pages 123-123 Financial Sustainability: Working with Your Money, Not against It....Pages 125-134 Family Sustainability: Risk and Resilience....Pages 135-142 Front Matter....Pages 143-143 Family Dividends: Gratitude and Legacy....Pages 145-155 Family R&D: Preparing the Next Generation....Pages 157-166 The Future of Your Family: No Success without Succession....Pages 167-176 Back Matter....Pages 177-194 Foreword by Philip V. Swan Acknowledgements Introduction First Things First 1. Strategy: A Blueprint for Your Family 2. Mission: Keeping Your Family on Track 3. Vision and Values: Put Family Members and Principles First Getting Your Family On Board 4. Forging Family Partnerships 5. Setting Goals and Celebrating Milestones 6. Every Family Member Matters: Roles, Responsibilities, and Making Decisions Family Investing Is More Sense than Dollars 7. Family I.Q.: Education and Training 8. Family E.Q.: Getting Along to Get Ahead 9. Family Audit: Guidance and Mentoring Staying On Track 10. Financial Sustainability: Working with Your Money, Not against It 11. Family Sustainability: Risk and Resilience Long-Term Planning 12. Family Dividends: Gratitude and Legacy 13. Family R & D: Preparing the Next Generation 14. The Future of Your Family: No Success without Succession Electronic book text. - Epublication based on: 9781137487865