Begin the Journey of Developing a Family Legacy with a Family Retreat
In my previous article, “Preserving Family Wealth is a Generational Effort,” I mentioned that “Wealth equals capital, which equals potential (Wealth = Capital = Potential).” In other words, a healthier way to view family wealth, is to view it as capital that can be applied in a way that maximizes the well-being, purpose, love, productivity, family unity, and the positive impact the family can have on the community and causes that are near and dear to them. These attributes are capitalized on when a Family Legacy focuses on the three forms of family wealth (or capital), which are financial capital, human capital, and intellectual capital.
Preserving Family Wealth is a Generational Effort
Wealth within a family can be a double edged sword. It can serve as an incredible resource to benefit its family members, but it can also be destructive and divisive. Destructive in the sense that if not properly tended to and respected, wealth can destroy the purpose and outcomes of individual family members, and divisive in the sense that it can damage the bond between family members and cause a splintering of the family.
Asking Powerful Questions
Asking questions is a powerful way to lead yourself to deep understanding. Asking questions helps lead to personal breakthroughs. Asking questions is an important tool for effective listening, learning, understanding, gaining clarity and a useful tool to help develop a personal vision for yourself.
Exiting Your Business Happily, Often Requires a Strong Personal Vision
Exiting a business is a very significant event for most owners. Realizing the importance and giving attention to this step in the exit planning process, and doing so well ahead of the actual exit, will help position him or her to have a healthy, meaningful, happy life, after the exit occurs.
