UHNW Blog

 
  • Key Questions Every Family Business Needs to Ask Itself on a Yearly Basis

    In his book, Every Family’s Business, one of my colleagues, Thomas Deans PhD., talks about the 12 Common Sense questions every family business needs to ask itself to truly protect its wealth. I highly recommend that everyone read this book. Furthermore, if you have a chance to see Tom Deans speak, I strongly suggest that you attend since you will leave the meeting with many wonderful insights. A Sample of The 12 Key Questions are as follow: 1) What does our business look like in 5 years? This question should be answered by both the Owner and the person taking over the business. 2) Are you interested in selling your stock? If yes, to whom? This should be answered by the Owner and the person taking over the business if they own stock. 3) Are you interested in buying stock and acquiring control? This should be answered by whomever is taking over the business. 4) Do you understand and agree that in the interest of maximizing shareholder value, this business can be sold to a third party at any time? This question should be answered by the Owner and whomever is taking over the business. 5) I agree that within the next 60 days I will put in place a special compensation formula for my child/key employee in the event that the business is sold in the next five years? This question is answered by the Owner. 6) As a fundamental principle I understand that from time to time we will receive unsolicited offers from third parties to acquire the business. These offers will be considered and accepted at the discretion of the controlling shareholder and supported by whomever was thinking of taking over the business. This question is answered by the Owner and whomever is taking over the business. 7) I will arrange for an updated valuation of the business and I will calculate whether there is an appropriate amount of insurance in place. I will furnish evidence that this has been done and that estate taxes will not impair the ability of this corporation to function after my death. This question is answered by the Owner. For the remaining questions, and for Tom’s incredible insights, please buy this great book.

     
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  • Leo Buscaglia – Speaking of Love

     
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  • Meaningful Reflections in a Sound Bite World by Dr. Bill DeMarco

    We live in a world where we have been conditioned by quick sound bites. On radio and tv, it’s in ten words or less!   No matter what the medium, we insist on top line highly condensed ”information”. Because of our hectic lives, our subconscious frequently cries out “spare me the details; I don’t have time for anything else!” We tend to view quiet time as either a luxury we can’t afford or an undesirable waste of valuable time.  Even worse, we may have become so intellectually lazy we do not want to be challenged! So what do we get from the quick sound bite approach to life?  For starters, we get more time for more quick sound bites!  More significantly, we take a whole lot of risk when we let others tell us what we should think… feel… do.  A meaningful example would be how we get information needed to make intelligent decisions about important or meaningful matters in our lives. In our work lives, many if not most have grown to prefer top line or bottom line results over details.  Since executives, managers, and supervisors set the example of what good looks like within the culture, it doesn’t take long for subordinates be hehave in kind.  “Spare me the details” becomes a lifestyle up and down the organization. This is easy to check out if you are so inclined. Another place to look would be contracts for computer applications or cell phone services.  They go on and on, written in language specifically designed to encourage the consumer to go to the “I accept” button quickly. We value short, crisp language, and these contracts are anything but.  And we are not discussing the legalese that very few consumers can properly evaluate, such as insurance policies, mortgage agreements, tax codes, or contracts of all sorts. Another example would be how we consume “news” in video or print formats.  I had a friend many years ago who was a foreign correspondent for a prestigious and particularly well-written international newspaper.  This was just prior to the days of CNN.  I remember how appalled David was with the popularity of the new USA Today because its format was a collection of brief bites with catchy titles.  Because it had almost no in-depth reporting, He called it a “ten minute read on a good day!” In an ideal world, “news” is really information distilled and interpreted from hundreds, thousands, and maybe even millions of bits of data. Our passion for “getting to the point” and “spare me the details” has all too often led to “information” passed off as “News” with little or no supporting data.  My friend David was prescient about what this would lead to.  I was not!  Far too many societies/individuals have drunk the coolaid of the unchallenged mind, and have grown to like it. Thomas Jefferson wrote that a “society that wishes to be free and yet uneducated expects what never was and never will be”.  He was obviously calling for […]

     
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  • Focus on what you value before you focus on the value of what you own

    Priorities of Life    

     
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  • Dr. Oz on Glutathione

    Dr Oz on Glutathione – Master Antioxidant!   Dr. Oz discusses glutathione with Dr. David Katz. Glutathione is the Master of Antioxidants! Glutathione is a vital tri-peptide consisting of Cysteine, Glycine, and Glutamine. These amino acids are naturally manufactured in every cell of your body with high concentrations in the heart, lung, liver, spleen, brain, muscle and skin tissue. Glutathione functions as both an antioxidant and an antitoxin for your body, attracting free radicals and toxins like a very powerful magnet. Glutathione boosts the immune system and helps reduce the damage of free radicals on your cells.  Although Glutathione is naturally prevalent in every cell of your body, starting in your early 20’s your body’s natural production of glutathione starts to decline by as much as 10% – 15% every decade. Additionally, stress, exercise, infection, injury and environmental toxins can also reduce your body’s glutathione levels. To increase your body’s natural defense against pre-mature aging and cellular damage you must increase your glutathione levels.

     
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  • Did you know? Shift Happens – 2010

    Shift Happens – Did you know? 2010   A really interesting view on life as we live it today. It has been around for a while, however business and people are still experiencing the pressures today — a reminder that we need to continually look at our environment and what impact it has on our decisions.

     
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  • Your Digital Afterlife

    The Digital Beyond: An Introduction   What happens to your digital identity after you die? This video explains the issues of death and the opportunities brought about by technology and the Internet.

     
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  • Language as a Window into Human Nature

    Language as a Window into Human Nature     Steven Pinker shows us how the mind turns the finite building blocks of language into infinite meanings.  

     
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