You don’t need me to tell you that this year didn’t go as expected. Although I had a delicious and enjoyable Thanksgiving Day dinner with my immediate family, it was disappointing not to spend the day in the way I typically do with extended family members. As we approach Christmas, most of our usual gatherings and group celebrations are being put on pause while we’re already fatigued with months of… Read More
The Business of Money – Assessing the Luck Factor
“There is no such thing as luck. There is only adequate or inadequate preparation to cope with a statistical universe.”―Robert A. Heinlein In the book, The Success Equation, by Michael Mauboussin, the author attempts to separate out luck from skill in the areas of business, sports and investing. Many of us might wince at the use of the term ‘luck’ when referring to business success in particular, but at the… Read More
The Master’s Minute – Generous Relationships
On Thursday, many of us experienced a Thanksgiving that was different from ones we had enjoyed in the past. Some of us may have stayed home instead of traveling, others had a smaller gathering than usual, and a few of us may have been responsible for more cooking this year than in past years! I suspect that in this unusual year, many of us were more reflective than we would… Read More
The Master’s Minute – Being Thankful…Intentionally
I know a mother who has two young children. They are wonderful children, but occasionally, they will slip into a negative, complaining state of mind. When this happens, their mother sends them to Whiners’ Jail. Whiners’ Jail is located at the bottom of the basement steps. To get out of Whiners’ Jail, they must say something they are thankful for each of the ascending steps. It’s not easy to get… Read More
The Master’s Minute – Generosity & Stewardship (Part II)
Have you ever seen what happens when you put Mentos breath mints in a two-liter bottle of Diet Coke? If you haven’t, here is a YouTube link for you to see what happens. In brief, when the Mentos react with the Diet Coke, a massive eruption occurs. This is the second article in our current Stewardship and Generosity series. I recently read an article entitled “How to Enjoy Wealth to… Read More
The Business of Money – Exit Strategy – Maximize Legacy
We have outlined three different methods to consider when you think about your exit strategy – maximize price, maximize continuity, and maximize legacy. We will now take a deeper dive into each strategy and how you can approach thinking about each one. The final exit strategy to discuss is the Maximize Legacy strategy. This strategy takes internal succession one step further. The end goal is to pass your business to… Read More
The Master’s Minute – Generosity & Stewardship
Today’s blog is the first of a series focusing on Generosity and Stewardship. The two featured topics are undoubtedly linked yet vary slightly. Both contribute greatly to a meaningful, life-giving, and successful financial plan. I count it a privilege to “set the table” for the next several weeks of thoughts on two topics that we are very passionate about. Let’s first look at the topic of stewardship. Simply put, stewardship… Read More
The Master’s Minute – “On The Business” Week
The Business of Money – Exit Strategy (Maximize Continuity)
We have outlined three different methods to consider when you think about your exit strategy – maximize price, maximize continuity, and maximize legacy. We will now take a deeper dive into each strategy and how you can approach thinking about each one. Very few business owners end up pursuing a maximize price exit strategy. In general, that strategy gets balanced out by other non-monetary factors that are important to the… Read More
The Master’s Minute – Butterflies
“If there were no change, there would be no butterflies.” – Walt Disney In case you have not noticed, the world, in dealing with a pandemic, has changed. We have had to learn a new language: social distancing, flattening the curve, herd immunity, super spreader events. Some have had to learn new jobs on the fly if there were children in the household: math teacher, tech support, lunch lady, activities… Read More
