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unHeritage – 11 Pitfalls to Family Legacy and How to Avoid Them
“unHeritage is definitely the lighthouse for protecting your family and wealth for generations. This book is a must read for anyone interested in legacy planning.” Enzo Calamo
Center for Family Conversations
The Center for Family Conversations (CFC) is a resource center that provides the integral tools and ideas in helping families establish a 100-year-plus Family Legacy Plan.
THE TYCOON PLAYBOOK – How Business Empires Are Built
The Tycoon Playbook course was created for business families who are already running a successful business and wish to ramp up their growth while preserving wealth for future generations. Specifically, the Playbook teaches high performance business owners the two most highly rewarded skills in business, namely deal-making and how to acquire cash flow producing business assets.
Peer-to-peer (P2P) lenders are creating online marketplaces that are pulling borrowers and investors away from traditional banks.
Hot VC firm led by Palantir cofounder plans to spend $100 million in an area long-neglected by investors
It’s all about the hardware.
Startup Company Challenges, Dynamics and Best Practices with Tomasz Tunguz (Redpoint Ventures) Tomasz Tunguz is a partner at Redpoint Ventures and the author of one of the most active and insightful blogs about startups on the internet today. Tomasz speaks to some of the more salient issues that he has written about and posted. These include trends in the early-stage financial markets; best practices when building a startup including marketing tactics, sales team construction, and unit economics; and more.
LOYAL3 CEO Barry Schneider: We Get To Invent Every Single Day How do you democratize the stock market? Chairman and CEO Barry Schneider shares LOYAL3’s vision and driving principles for the five-year old startup. LOYAL3 allows companies going public to sell IPO stock to individual investors at the same price as Wall Street. Schneider explains why his company is taking risks and going beyond the status quo to disrupt the capital markets: “There has been precisely 3 IPOs that have ever been crowdsourced. We’ve done them all.” They helped AMC Theatres and Santander Consumer USA go public.Schneider also shares three important values that make up his company’s culture: integrity, innovation, and interdependence. Schneider guest lectured in JD Schramm’s Strategic Communication course on Monday May 19, 2014 where this talk was originally delivered.
The Importance of Picking the Right Investor with Carl Showalter A relatively recent phenomenon has complicated the investment landscape confronting the founder of the early stage company looking for funding. There used to be a time not too long ago when a founder had only two investor categories to choose from: angels or institutional VCs. Today, it is not that simple. The ecosystem of investors in the Bay Area includes angels, super angels, incubators and accelerators, corporate VCs, the institutional VC community (which itself has fragmented into side funds and specialties), crowdfunding, “demo” days, and the like. Even private equity firms and investment banking firms are coming “down market” to invest in startups, presenting the founder with a bewildering array of choices. Our speaker, Carl Showalter, a partner at Opus Capital and an experienced investor with a long history in Silicon Valley, offers insights and wisdom on how a founder should think about the fundraising process. When is the right time to raise funding? How much money should the founder raise? What part of the investor ecosystem should a founder go to first? Is crowdfunding as good as it looks? What business models still require bootstrapping as a first step? When is the right time to bring in an institutional VC?
How Did Tycoon Meshulam Riklis Make His Fortune? Money is to look at, not to use. – Meshulam Riklis One of the questions that I get asked on a regular basis is about the possibility of following the tycoon growth strategy without employing debt. The answer is that it is possible to do so. Over the years I have participated on the buy-side in a number of deals with debt averse buyers. One Russian transportation company comes to mind. The management team had basically been given the company for free by the Russian government shortly after the collapse of the USSR in 1991. The managers then threw themselves fully into growing the company internationally, including in the USA. However, their steadfast rule remained “no debt.” Every acquisition had to be financed with internally generated cash. The downside to avoiding debt is that it will take longer to get started and, thereafter, growth will be slower. However, some people just prefer to avoid the use of debt. In thePlaybook we focus on those who utilize well-managed debt to grow because it’s easier to start that way and the growth rate is far higher. If you are starting out without a large war chest, it’s imperative to be creative about financing. If you wait for the heavens to drop your grubstake into your lap, you will be waiting forever. The lesson is start small and fast, then build momentum. Tycoons are masters at the creative financing needed to get rolling. Once you learn the basics of deal-making from them and have achieved a critical mass almost any deal becomes do-able. The challenge is to get started today with what you have. Tycoons have a great deal to teach us about getting off our duffs and starting one step at a time. Let’s take a look at what I mean by this. One of the financial tools used by tycoons is leverage. This simply means that they will use as much debt as possible to put the financing together for a deal. In many cases, for every dollar of equity they invest there are four to nine times as many dollars of debt. We could spend a great deal of time going over how this is done but today I want to leap-frog the topic to someone who took leverage to an extreme. I refer to Meshulam Riklis who described his financing strategy as “the effective nonuse of cash.” He summed up his financing philosophy as “Money is to look at, not to use.” Recall the old joke about bankers: they will only lend you money when you can show that you don’t need it and slam the door in your face when you do need it. The joke captures the catch-22 faced by borrowers. Riklis came up with a beautiful solution to the problem which he described in the following words: Mergers may serve several purposes, but they usually have one single aim at the start. That aim […]
CNBC Squawk Box: Sen. Warren Leads Charge to Break Up Big Banks Senator John McCain and Elizabeth Warren are teaming up to break up the megabanks. Massachusetts Senator Elizabeth Warren joined the Squawk Box team on Friday, July 12th to discuss this new bill.
Financing your Family Business without Going Broke Financing is indispensable for the success and growth of your family business. But after you’ve already tapped out your personal funds, and perhaps those of friends or other family members to get your business up and going, you’re going to have to find a way to keep the lights on without going broke. That means you’re going to have to borrow money or obtain credit from a variety of institutional lenders. Business loans and lines of credit will allow you to cover expenses, buy new equipment, manage cash flow, purchase inventory, create new products or services, or expand your business when the circumstances are right. If your business is new and doesn’t have an established credit history, you may need to provide collateral to secure a loan or credit line. This could be any personal assets that you cannot otherwise monetize or afford to spend on the business, but can be utilized as security. Your best bet would be to approach a local bank or credit union where you have a personal relationship and a history of sound money management. If your business does have a positive credit history for at least a year or two, the commercial bank that issued your business credit card is a good place to go to apply for a line of credit. Make sure that you’ve paid the balance on that card promptly each month, and if necessary, let the bank know that you’ve been shopping around and intend to move any accounts to the lender that can provide credit with the best terms. Most banks will want to keep you as a customer. Regardless of the age or reputation of your family business, or where you go for financing, you’re going to have to prove to every lender that it is a financially solid concern, with the capability of long-term survival. So make sure you have all your paperwork in order, including all financial and tax statements, all profit and loss history, as well as a list of contacts for credit references. You’ll also need to provide a pro forma to each potential lender. This will be a description of how you intend to utilize your loan or line of credit, how it will affect your cash flow, and how you anticipate paying back the money you’re going to borrow. Once you’ve secured funding, make sure you stick religiously to a repayment schedule. As you continue to display credit worthiness, you will be able to increase your credit limit, borrow at more favorable rates, and most important, keep the business going without going broke. Al Krulick is an award-winning journalist with dozens of years of writing experience. He writes and blogs for Debt.org.
Enzo Calamo Is A Best Selling Author
Enzo Calamo is the Best Selling co-author of "How To Create Infinite Returns In Real Estate Using The Secret Asset: How To Recover All Business and Personal Expenses Using The Secret Asset" This is a must read for every affluent investor.
Enzo Calamo Is A Gold Award Curator
Scoop.it describes Enzo Calamo "as a rock star of content curation."
Lugen Family Office is the Most Trusted Online Curator on Legacy Planning, Wealth Management, Financial Literacy, Family Business, Philanthropy, Technology Trends, Healthy Living, and the UHNW.
ALL POSTS ARE CURATED BY ACTUAL EXPERTS!
Check out our 11 Gold Award UHNW Newswires.
- Richard Branson: To get to the top, hustle like an underdogFebruary 21, 2017
- Here are the places where millionaires are movingFebruary 21, 2017
- Jack Bogle doesn’t feel ‘super confident’ about the market rally – here’s whyFebruary 21, 2017
- The Rebirth Of Burger King Has Made 3G Capital, Bill Ackman And Warren Buffett Over $14 BillionFebruary 21, 2017
- How Charles Schwab’s chief investment strategist manages her own moneyFebruary 21, 2017
- Elliott Wave suggests the stock market isn’t anywhere near a topFebruary 21, 2017
- Icahn buys Bristol-Myers shares, adding to activist pressureFebruary 21, 2017
- A huge disconnect is taking place between the stock market and earningsFebruary 21, 2017
- Malcolm Gladwell rips into Stanford University’s request for donations: ‘You might as well send your check to the Sultan of Brunei’February 21, 2017
- Microsoft CEO Satya Nadella says Bill Gates’ original mission ‘always bothered me’February 21, 2017
- How CEOs across America feel about Trump — and what they think he’ll do to their businessesFebruary 21, 2017
- INSIDE THE ROADSHOW: Snapchat just met with prospective investors in NYC and faced tough questionsFebruary 21, 2017
- It’s worse than you thought: Americans are drastically under-saved for retirementFebruary 21, 2017
- Apple’s stock surges to another record after Morgan Stanley boosts price targetFebruary 21, 2017
- Bill Gates supposedly has long way to go to catch the real richest man in the worldFebruary 21, 2017
- Pay attention to these three financial experts if you want to survive the coming financial superstorm: Michael Pento, James Rickards and Gerald CelenteFebruary 21, 2017
- Pursue Those Scary Dreams and Crazy Ideas to Make Every Day Your Best Day EverFebruary 20, 2017
- How to Help Employees Remember What They Learned in TrainingFebruary 20, 2017
- 5 Things to Look for When Hiring a Consulting FirmFebruary 20, 2017
- You’re Not Elon Musk or Richard Branson. Here’s What You Need to Know About Approaching the Media.February 20, 2017
- Who Needs Goals When You Can Develop New, Good HabitsFebruary 20, 2017
- 6 Tips For Leaders to Set Smart Sales GoalsFebruary 20, 2017
- Why Some Startups Succeed (and Why Most Fail)February 20, 2017
- Want a More Creative Team? Start by Taming Your Own Ego.February 20, 2017
- Presidential Lessons in Leadership and BusinessFebruary 20, 2017
- 3 Key Steps to Expand Your Culture to New CitiesFebruary 20, 2017
- 15 Science-Backed Memory Tips to Help You Succeed (Infographic)February 20, 2017
- 9 Small-Business Trends That Should Be on Every Entrepreneur’s RadarFebruary 20, 2017
- What This CEO Learned by Working in His Company’s Call CenterFebruary 20, 2017
- Sorry But Successful People Don’t Care About Your Brilliant IdeaFebruary 20, 2017
- 5 Important Business Lessons You Can Learn from Billionaire Oprah WinfreyFebruary 20, 2017
- Smartphones are making your car insurance more expensiveFebruary 20, 2017
- China’s economy is dangerously close to unravelingFebruary 20, 2017
- Hitler’s phone sold for almost $250k at US auctionFebruary 20, 2017
- Mark Cuban: Robots will ‘cause unemployment and we need to prepare for it’February 20, 2017
- A 31-year-old millionaire who’s read 360 personal finance books shares his favoriteFebruary 20, 2017
- 3 mistakes you want to avoid with your bond portfolioFebruary 20, 2017
- Japan is the cheapest stock market in the developed worldFebruary 20, 2017
- China and Shadow Financing | Mark MobiusFebruary 20, 2017
- An important psychological shift is taking place in the US economyFebruary 20, 2017
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