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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.
FAMILY OFFICE OF THE YEAR
Lugen Family Office was recognized as the Family Office of The Year in 2016 in Canada by Wealth and Finance International Magazine
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.
- NBA Great Yao Ming Is Making a Big Impact with His Latest VentureMarch 24, 2017
- Omega’s Latest Seamaster Planet Ocean Is Dressed in Blue Ceramic for the First TimeMarch 24, 2017
- Porsche Design’s Monobloc Actuator Rewrites the Rules of Chronograph DesignMarch 24, 2017
- The Largest Diamond in North America Hits the RoadMarch 24, 2017
- Bryant Park Grill Offers a Rare Pappy Van Winkle DinnerMarch 24, 2017
- 4 of the Best New Women’s Watches on Display at Baselworld 2017March 24, 2017
- Woman Claims Ex-Husband Donated Funds To University That Belong To HerMarch 24, 2017
- The Story Of Huang Guangyu, Former Richest Man In China, Now Prisoner In Chinese JailMarch 24, 2017
- How Tom & Judy Love Turned The Crippling 1970s Fuel Crisis Into A Multi Billion Dollar Travel EmpireMarch 24, 2017
- If ‘Beauty And The Beast’ Makes Enough Money, Emma Watson Will Score Up To $15 MillionMarch 24, 2017
- Las Pozas: The “Surrealist Xanadu” Playground Built By A Millionaire In The Mexican JungleMarch 24, 2017
- Charter Communications CEO Tom Rutledge Made $98.5 Million Last YearMarch 24, 2017
- The 10 Most Valuable NBA Teams This YearMarch 24, 2017
- The Richest People In The U.S. Right NowMarch 24, 2017
- VIDEO: A Preview of Billionaire’s Giving IssueMarch 24, 2017
- Inside The World’s Most Innovative Cruise ShipMarch 24, 2017
- Seven of the World’s Best Club SandwichesMarch 24, 2017
- David Beckham’s Former Ferrari Spider Goes On SaleMarch 24, 2017
- Trump earned $67M in real estate royalties in ’05March 24, 2017
- Hong Kong billionaires rake it in, despite efforts to cool marketMarch 24, 2017
- Here’s where California real estate players ranked on Forbes’ billionaires listMarch 24, 2017
- 20 Weird Things We’ve Learned About Bill GatesMarch 23, 2017
- Austin’s richest ranks high on new Forbes list of world’s billionairesMarch 23, 2017
- Bay Area tech leaders dominate the top of Forbes’ 31st Annual World’s Billionaires list. – San Francisco Business TimesMarch 23, 2017
- Forbes: Newest member of the billionaires club? Papa JohnMarch 23, 2017
- Youngest billionaires: How did they make their money?March 23, 2017
- The Billionaire Sports Team Owners Almanac 2017March 23, 2017
- It’s The Best Time To Buy These REITs Since 2009March 23, 2017
- Tony Robbins’ 4 rules for investingMarch 23, 2017
- Global Art Sales Fall 11% to Lowest Point Since RecessionMarch 23, 2017
- Rent The Runway Cofounder Fleiss Bows Out As Company Preps For IPOMarch 23, 2017
- How to qualify for the New Flat Tax System in Italy – YouTubeMarch 23, 2017
- Mark Zuckerberg net worth: How much money does the Facebook founder have?March 23, 2017
- Rolex unveiled a new watch that’s shinier than anything we’ve seen from the brand beforeMarch 22, 2017
- ‘Subprime credit losses are accelerating’: There’s a problem in the auto loan marketMarch 22, 2017
- The world’s largest hedge fund just published a 61-page paper on populism that says the movement is at its highest level since the eve of WWIIMarch 22, 2017
- Meet Trump’s Kind Of Immigrants: Wealthy Investors Who Funded A Kushner Development In Jersey CityMarch 22, 2017
- The Story Of Trump’s Deals In Florida: From Failed Towers To Foreclosure And Slow SuccessesMarch 22, 2017
Lugen Family Office Proudly Supports AIP
The International Association of Advisors in Philanthropy is the leading charitable giving organization in the world for inspiring collaboration among professionals.
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