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unHeritage – 11 Pitfalls to Family Legacy and How to Avoid Them
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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.
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Business Ideas – How to Create a Culture, Work Hard, and Make Customers Happy like G Steinbrenner by Evan Carmichael Today we are going to take a look at how a man went against his father’s wishes to run the family business in order to follow his passion. He went on to pursue his dreams and purchase one of the greatest professional baseball clubs in the history of the game. This is the story of New York Yankees owner George Steinbrenner and the top 3 lessons that you can learn from his success. “I haven’t always done a good job, and I haven’t always been successful, but I know that I have tried.”– George Steinbrenner George Steinbrenner (born July 4, 1930) went from coaching college football to saving his family’s business and finally owning one of the greatest baseball franchises in history, the New York Yankees. When Steinbrenner started college he chose English literature, which was not what his father wanted him to do. Instead, Henry Steinbrenner wanted George to come back and run the family shipping business. After graduating college, George went in the United States Air Force where he would get his first taste of the business of sports by establishing a sports program in his spare time. George had no plans on joining the family business or ever owning a professional sports team. After his tour in the Air Force was complete, he went on to join the coaching staff at Northwestern University and then Purdue University, but family problems would take him away from what he loved. He would get a call from his father pleading with him to come home and help prevent the family business from going under. “He told me to get home and get busy,” recalls Steinbrenner. “I wish I could have stayed in coaching. My father never asked that much, but when he did it was an order.” After successfully saving his family’s shipping company and becoming president of the company within four years, George went against his father’s wishes and left the business to pursue his love of sports. He would go on to buy the Cleveland Pipers, an American Baseball League team, but the league would fold after a few seasons. George would set his goals higher the next time and buy the New York Yankees for $8.7 million in 1973. Today, the New York Yankees are worth more than $1.3 billion and are the most successful professional baseball franchise in history, at the same time making George Steinbrenner one of the greatest sports icons in history. Action Item #1: Create a Culture Action Item #2: Earn by Working Hard Action Item #3: Make the Customers Happy True Story Since George Steinbrenner’s father did not believe in giving allowances to his children, George and his sisters were set up in a chicken business. They would sell eggs for 50 cents a dozen or chickens to the […]
Business Ideas: Productivity in the Workplace for Entrepreneurs by Evan Carmichael One of the most common questions I get asked is: How can I be more productive? There just never seems to be enough time in the day to get everything done. Today we’re going to talk about how you can eliminate, automate, and delegate your work to help you focus on your highest priority tasks, what I like to call CEO tasks. Getting Started The first thing you need to do is make a list of all the tasks that you do on a regular basis. This means everything from selling to customers, working with suppliers, invoicing, managing your cash flow, etc. The second step is to bundle all your tasks into common themes. For example, making cold calls, attending networking events, and doing your email campaigns can all be under Sales & Marketing. Paying your staff, billing your clients, and keeping track of your expenses can all be called Admin. Continue classifying all your tasks until you have 5-7 main categories. The third step is to figure out how much time you’re spending in each category. For example, you might spend 20 hours per week on Sales & Marketing, 10 hours per week on Admin, and so on. Step 1: Eliminate Step 2: Automate Step 3: Delegate Summary The order of Eliminate, Automate, Delegate is very important. Eliminate is first. You don’t want to automate or delegate something that can be eliminated because it’s a non-productive task. Automate is next. You don’t want to delegate something that can be automated because it is more expensive and more prone to error. Follow the steps I laid out to put your regular tasks into groups and then Eliminate, Automate, and Delegate everything away until you’re working only on the top priority CEO tasks. It all starts with that first little step.
/ Be an Effective Leader, Board of Directors, Business Leadership, Business Standards, CEO, Company News and Insights, Entrepreneur, Family Business, Family Office, Governance, Human Resources, Learning, Management, Mentoring, Starting a Business, Strategic Planning, Tom Deans
Tom Deans Understands Family Business Relationships Lugen Family Office is proud to select Tom Deans as the LFO 2013 Speaker of the Year Award Winner! Congrats Tom and keep up the great work. Dr. Thomas William Deans is the author of the all-time best-selling family business book, Every Family’s Business: 12 Common Sense Questions to Protect Your Wealth. He now speaks on the international lecture circuit full time. Having delivered more than 500 speeches, he has built a reputation as a thought leader on the subject of intergenerational wealth transfer. His lectures and books argue that family has emerged as the greatest economic driver of all time. But the question remains: How can wealth be transferred successfully without destroying the recipient and the wealth itself? It is a question for the times, as the greatest generation of wealth creators move toward death in record numbers. Deans explores the idea that communication is crucial to the success of that transfer, and indeed to the success of individuals, families and communities. The idea to write Willing Wisdom came from Tom watching his mother’s parents die. One death – his grandfather’s – was comparatively quick. His grandmother’s was a long and slow ten-year decline. Despite the significant wealth his grandparents left for family and charity, it is the conversations they shared that Tom thought about the most many years later. In the end, when it came down to their last breaths, only the care provided by Tom’s parents, not money or even the promise of money, could purchase the dignified death each experienced. Tom is not sure when he first became curious about why our culture has lost its inquisitiveness about death and dying, but he does know, having delivered his keynote speech on transitioning family wealth to tens of thousands of people around the world, that this trend is worsening. We live in a culture that is in awe of wealth and all that it can provide. We also live in a culture that finds it difficult to talk about and contemplate death. The two are inextricably connected. Tom starts conversations, but rarely does he finish them, leaving that to readers and their families, friends and trusted advisors. Willing Wisdom represents a return to the subject of his doctoral research, conducted in the US, Canada and the UK and first published in Charities and Government by Manchester University Press. Tom lives in a forest in the beautiful Hockley Valley in Ontario, Canada, with his wife, two children and five dogs. To Book Tom Deans as Your Keynote Speaker, Click here.
Robber Baron: Lord Black of Crossharbour by George Tombs Learn more about the amazing Tycoon Playbook, click here. If you are a fan of tycoon biographies, this book should be of interest to you. I found it particularly enjoyable to read for two personal reasons. First, the best biographies, in my humble opinion, are the ones which take you inside the subject’s head and reveal what drives them to excel or at least clutch at the brass ring. The author here, George Tombs, is superb in this particular area. This is partly due to the fact he has known his subject personally for a number of years while working on an authorized biography. This book is the unauthorized version which came out after Black was found guilty in mid-2007 of stealing $6.5 million from his own public company, Hollinger International, an owner of newspapers around the globe. It’s safe to assume that the two men had a last moment falling out around the time of the trial. Second, I have been following Conrad Black’s business career on and off since about 1980 when I began my study of business tycoons and their strategies at a precocious age. There’s actually a third reason why I found this biography such an engrossing read. I have this morbid fascination with greedy people. I’m talking about people who have an inflated sense of self-entitlement, people who believe themselves to be above the law, people who will snatch the $100 from your hand that you had intended to use to refill your child’s insulin script in order to buy themselves a Cuban cigar. I’m talking Gordon Gekko, Leona Helmsley greedy. This, unfortunately, is how Conrad Black comes across as well. The book is so good that I read 225 pages in the first sitting. That’s probably a record for me as I hardly ever exceed 100 pages per evening. Conrad Black is currently serving a 6 year sentence in the USA for getting caught with his fingers in a public company’s cookie jar. Despite this sad ending, he is worth studying for students of business strategy. His tycoon career began in 1969 at age 25, when he and two equally inexperienced friends purchased a small town newspaper in Quebec. Long story short, Black developed a cookie-cutter system for acquisitions and ended up acquiring over 500 newspapers in Canada, the USA, Britain, and Israel over the next 30 plus years. He was a master at unleashing the game changing “Golden Feedback Loop” as I have come to call it within an industry. Once unleashed there was no option of holding onto the status quo. It was shattered. You then had to play by his rules or go out of business. Controversy followed Black throughout his entire career starting at an early age. At Upper Canada College, an exclusive boy’s school, (think Andover and Exeter), he was expelled for selling copies of an exam to fellow students. However, his two biggest mistakes, according to […]
The power of words: Grace Taylor – Lugen Family Office
Saudi Arabian billionaire prince on his country’s economic futures in wake of tumbling gas price Prince Alwaleed Bin Talal ranks 17th on the Bloomberg list of billionaires, and has urged his nation to diversify its economy as the U.S. increases its own energy production. He speaks with the “CBS This Morning” co-hosts about how increased production of oil in the U.S. may affect global relations.
Mikko Hypponen: How the NSA betrayed the world’s trust — time to act Recent events have highlighted, underlined and bolded the fact that the United States is performing blanket surveillance on any foreigner whose data passes through an American entity — whether they are suspected of wrongdoing or not. This means that, essentially, every international user of the internet is being watched, says Mikko Hypponen. An important rant, wrapped with a plea: to find alternative solutions to using American companies for the world’s information needs. As computer access expands, Mikko Hypponen asks: What’s the next killer virus, and will the world be able to cope with it? And also: How can we protect digital privacy in the age of government surveillance? WHY YOU SHOULD LISTEN TO HIM? The chief research officer at F-Secure Corporation in Finland, Mikko Hypponen has led his team through some of the largest computer virus outbreaks in history. His team took down the world-wide network used by the Sobig.F worm. He was the first to warn the world about the Sasser outbreak, and he has done classified briefings on the operation of the Stuxnet worm — a hugely complex worm designed to sabotage Iranian nuclear enrichment facilities. As a few hundred million more Internet users join the web from India and China and elsewhere, and as governments and corporations become more sophisticated at using viruses as weapons, Hypponen asks, what’s next? Who will be at the front defending the world’s networks from malicious software? He says: “It’s more than unsettling to realize there are large companies out there developing backdoors, exploits and trojans.” Even more unsettling: revelations this year that the United States’ NSA is conducting widespread digital surveillance of both US citizens and anyone whose data passes through a US entity, and that it has actively sabotaged encryption algorithms. Hypponen has become one of the most outspoken critics of the agency’s programs and asks us all: Why are we so willing to hand over digital privacy?
Jorge Paulo Lemann: Meet the Burger, Beer Brazillionaire – Finance Expert Aug. 29, 2013 (Bloomberg) — Bloomberg’s Alexander Cuadros examines the wealth Brazilian billionaire Jorge Paulo Lemann, the former professional tennis player who built his fortune on some very well-known American brands. He speaks on Bloomberg Television’s “In The Loop.”
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
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