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Are We Reaching Charidy Fatigue

By Kim Adams20 December, 2015July 16th, 2021Articles, Blogspot, COL Live, Shmais

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As Charidy become the new online sensation, David talks about how this becoming an overused funding campaign. He pointed out that if this would go on, donors would be left in fatigue. [ COL Live, Blogspot, Shmais].

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Who Wants to be a Leader?
And who before his time?

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Four Questions to Ask Before Passing an Enterprise

Four Questions to Ask Before Passing an Enterprise to the Next Generation

The foundation for any family business succession plan is Gen 1’s goals and, once set, there are four questions Gen 1 should contemplate before deciding which member of Gen 2 to put into the CEO’s chair.

https://tiger21.com/insights/four-questions-before-passing-enterprise/

#familyoffice #wealthmanagement #conflictresolution #strategicmanagement #nextgensuccession #intergenerationalwealth #governance #leadershipdevelopment�#entrepreneurship

Manage or Avoid Family Conflict? What would you r

Manage or Avoid Family Conflict?

What would you rather in your family: to manage conflict or avoid it completely? Before you jump to door number two, snap out of fairy tale land and accept that family conflict cannot be avoided. Conflict is a part of any relationship, and especially present in families, and even more so when significant assets are added into the mix.

When family members are driven by self-interest, this leads to zero-sum dynamics. The 'losers' in any conflict will eventually get their chance to harm the 'winners' and these forces are a destructive influence on the whole family.

What helps families thrive through generations is unity, and that is supported by (among other things) the ability to manage conflict. Indeed, dealing with and resolving conflict can lead to a shared sense of purpose which strengthens family bonds and determination, rather than perpetuate long-term rivalries.

Having a framework and common set of rules for those connected to the wealth is essential, as is maintaining transparency and ensuring individuals and their needs are recognised and considered. Allowing for the division of assets under specific circumstances can potentially mitigate some aspects of conflict.

Actionable Generational Wealth Succession
For more in-depth, thought-provoking discussion points and further commentary on family and business conflict resolution, access my Familosophy newsletter archives by signing into our newsletter https://DavidWerdiger.com. We will send you the archive links from there.

#familyoffice #wealthmanagement #conflictresolution #strategicmanagement #nextgensuccession #intergenerationalwealth #governance #leadershipdevelopment�#entrepreneurship

QE2 -> C3 The leadership transition from Queen El

QE2 -> C3

The leadership transition from Queen Elizabeth II to King Charles III has been a fascinating insight into the preparation and execution of a succession plan. Within minutes of the announcement of her passing, the media was flooded with coverage, clearly well prepared in advance. Established protocols, known to insiders, were quickly put into place. Everyone was ready for this, yet when the moment came there was an outpouring of grief for one of the most widely venerated leaders of our time. The Queen is dead. Long live the King.

Queen Elizabeth ruled for 70 years - about three generations. We can reasonably expect King Charles to rule for about one generation. Looking way into the future, William could ascend to the crown sometime in his 60s (perhaps 10 years younger than his father), and then rule for about one generation.

Elizabeth's reign was exceptional because she had to take on the role aged just 26. The 'normal' path is to become monarch from late middle-age until death, but these are hardly one's best years to offer in service to the Commonwealth. The system does not have a notion of 'Emeritus Monarch' which would allow a shift in role at say age 75-80 so that the rising generation can take their place. Could such a thing ever happen?

In families, we can think of adult life in three stages: rising leader, leader and elder. The elder stage is very important as it allows leaders to evolve into a new role in their later years, and gets the best out of family members while they are in their prime. When an elder passes, the transition can be seamless.

Consider This: Does your family support and facilitate leaders to step away from active roles and become family elders? Are the skills of aspiring leaders being put to good use in support of the family?

Actionable Generational Wealth Succession
For more commentary on family and business conflict resolution, access my Familosophy newsletter archives by signing into our newsletter https://DavidWerdiger.com.

#familyoffice #wealthmanagement #conflictresolution #strategicmanagement #nextgensuccession #intergenerationalwealth #governance #leadershipdevelopment�#entrepreneurship

Generational Attitudes to Wealth Wealthy people b

Generational Attitudes to Wealth

Wealthy people broadly come in two flavours - wealth creators and wealth inheritors - and each have very different characteristics.

Attitudes to money and wealth are usually established as we grow up and largely remain with us for the duration of our lives. Creators often grow up without a lot of money and therefore have different attitudes to spending and the value of a dollar, are uncomfortable talking about it with their children, and often look at the wealth they created through an "ownership" rather than a "stewardship" lens. If they have created the wealth through starting a business, they also have a set of beliefs (resilience, confidence, sense of invincibility) common among business founders and entrepreneurs.

Inheritors view the world very differently, sometimes feeling conflicted or guilty for the "sin" of not having to earn it like most others. Depending on their upbringing, they may not have a sense of the value or spending power of money. They are often challenged to develop their own identity - not wanting to be known as "the child of ...", and needing to make their own mark. Their mark may often be in the non-financial arena (because their parents already made it financially).

In order to effectively transmit or transition the wealth to the next generation, both creators and inheritors need to understand their difference, and learn new skills (raising children with healthy money attitudes, adopting a "stewardship" approach, finding meaning beyond money).

Consider This: Have you considered how your attitudes to wealth might differ compared with your parents or children? Have you had family discussions about these differences and what they mean to each of you?

Actionable Generational Wealth Succession
For more in-depth, thought-provoking discussion points and further commentary on family and business conflict resolution, access my Familosophy newsletter archives by signing into our newsletter https://DavidWerdiger.com.

#familyoffice #wealthmanagement #conflictresolution #strategicmanagement #nextgensuccession #intergenerationalwealth #governance #leadershipdevelopment�#entrepreneurship

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