- Good Idea, Bad Start
- When Opportunity Comes Face to Face with Hard Work and Preparation
- End of an Era
- No Strategic Approach to Wealth Management
- Alarm Bells
- It's Hard to Grow Assets AND Enjoy the Fruits of Success at the Same Time!
- Our Wealth Represented More Than Cash
- We Needed to Get a Handle on Our Investment Portfolio
- Introducing Strategic Wealth Management
- We Are Stewards, Not Owners, of Our Wealth
- Taking Control for the First Time
- The Power and Purpose of Entrepreneurial Stewardship
- Philanthropy Has Emerged as a Shared Interest Among Many Family Members
- Closer Family Ties
- The Value of Family Lore
- How My Dad Taught Me the Value of Money
- A Book About Strategic Wealth Management
The Power and Purpose of Entrepreneurial Stewardship
Successful business owners wake up every day thinking, “How can I serve my customers better?” They have a mind-set of continuous improvement. They know that loyalty goes only so far and that if they don’t get better their competition will. They also know the satisfaction that comes from being useful to others.
I will show that the math of wealth management requires you to recreate the wealth in each generation if you want to keep it. But the core concept behind entrepreneurial stewardship is about building human capital in your family. With the passage of time and generations, many people worry that wealth can be demotivating. A culture of entrepreneurial stewardship inspires people to lead fulfilling and productive lives, and its spirit can give families a sense of purpose and shared identity that transcends the family business. It’s more rewarding than growing investment portfolios. It’s more flexible than a family company. It’s more effective than family philanthropy.
Our family has teachers, doctors, and clinicians who express a spirit of entrepreneurship and service in their work. You might have scientists, politicians, philanthropists, environmental advocates, or artists in yours. In a world of constant change, entrepreneurial stewardship is the best way to preserve common family purpose while helping each individual family member to flourish.