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
The Master’s Minute – Three Benefits of Alignment Living
My wife and I were recently shopping when we saw an elderly man near us collapse. We asked the lady with him, who we later found out was his daughter, if she needed help, and she indicated she did. Fortunately, we were able to find a doctor and a nurse who were also shopping in the store at that time. Neither of them could find the man’s pulse so they… Read More
The Business of Money – Exit Strategy – Maximize Price
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. We start with the strategy that might first come to mind when we think about selling a business – Maximizing Price. You should consider this strategy if you… Read More
The Master’s Minute – The Sudden Money Event
Most people think it would be great to suddenly come into a large sum of money. They dream of what they could do with all that money and fantasize about being set for life! But more than half the people who come into sudden wealth lose it in a few short years. Unwise decisions, bad habits, and sadly, unscrupulous advisors can cause wealth to quickly erode. Whether sudden money becomes… Read More
