Heritage is the DNA of Your Family Business

Heritage will never show up your family business's balance sheet, but it is one of your richest assets. It is complex, beautiful and completely irreplaceable because it is utterly unique to your family business. Your family history and ancestry, your family values about wealth, your traditions, rituals and stories passed down through the generations all live in the heritage of your family business. But heritage is not merely about the past.

UNWRAPPING THE HERITAGE OF YOUR FAMILY BUSINESS.

Understanding and articulating the heritage of your family business goes a long way toward mapping out your values and vision for the future. It helps identify how you'd like to see those vital traits of your business perpetuated by the generations that follow. Exploring heritage is an important part of the work we do with family businesses. It is one of the enjoyable products of the union of family and business.

You have every right to be proud of the business you and your family have built over the years. We can help you recognize the heritage of your family business with our exclusive Wealth Care Management^sm and Vision for Success^tm. Contact us today by Email, call us at 612.375.0640, or fill out our contact form.

If you enjoyed this article please consider leaving a comment below, sharing it and/or subscribing to have future articles delivered to your RSS feed reader.blog comments powered by Disqus

Tweet

click edit icon to configure CONTENT-SMICONS element

Ownership PlanningSuccession Planning - Family Business Fathers - Part Two Offer your own hugs. Reach out to each other. Let other family members know what you want emotionally. Demonstrate involvement. A dad who is emotionally engaged is invaluable to a successful family-owned business.  Read More Succession Planning - Family Business Fathers - Part One I have realized over years of consulting just how vital dads are in the emotional development of their adult sons and daughters. Fathers who take the time to bless their children by participating in their lives recognize the powerful bond that is created. The fathers' investment of time and energy reaps tremendous rewards in the relationships they enjoy with their sons and daughters. Read More Intellectual Property and Succession Planning Many conflicts can erode family relationships in a family-owned business - succession, ownership, estate management, leadership, retirement, perceived fairness and more. But one of the most unique and damaging can be the disagreement over intellectual property.  Read More Inside-out Succession Planning - Part 2 Understanding the Four Plans Read More Inside-out Succession Planning - Part 1 What motivates a successful plan? Read More Emotionally Speaking - Exploring the poignant points of passing the torch Many family businesses go through a terrible time when the leadership succession process is in full swing. There is not only the technical matter of learning the job, but also the emotional matters of loss and the need for validation and passing the torch. Read More 10 Most Prevalent Obstacles To Family Business Succession Planning Ten obstacles derived from my observations of client situations that became stumbling blocks and obstructed their ability to move from their current state to successfully navigate the succession planning process. Read More Plan Now to Ensure a Successful Transition Later Marvin Schwan established a successful multibillion dollar business and was an extraordinarily successful owner/entrepreneur, yet at the moment of his death, everything he worked for seems to have fallen apart. What went wrong? Read More Through Family Philanthropy and Service Wealth Enriches Your Life The family, business and community all benefit from acts of philanthropy and service. Family philanthropy and service allow you to express your values in meaningful and tangible ways. Read More The Successful Family Business is Both a Successful Family and a Successful Business The leader of a successful family business has to answer two questions that the leader of a publicly held company doesn't have answer Read More Heritage is the DNA of Your Family Business Heritage will never show up your family business's balance sheet, but it is one of your richest assets. Read More Where Does Your Family Stand Your family values live in your family business. This business legacy contains powerful emotional forces like belief, fear, control and acceptance. Under the stress of change, especially succession, those forces become even more evident-and perhaps conflicting. Read More Family Wealth Management An important part of wealth management is often overshadowed by the amalgamation of wills, taxes, trusts and investments that make up the financial side. The often-neglected side of wealth management is its emotional side. The emotional side of wealth management requires managing the impact wealth has on family relationships. Read More Attuned to the Importance of Wealth Preservation Wealth preservation is important for your family-owned business because it impacts both the family and the business. Protecting economic security benefits both the business and personal relationships. For family businesses, particularly those preparing for a transition in management, wealth preservation is a top priority. Read More The Richness of Your Family Legacy Articulated and Preserved Your legacy weaves together the spectrum of values, emotions, relationships, and personalities found in a family with the ambitions, struggles and successes of business. Have you ever looked at your unique tapestry? Read More Fine Tuning Your Legacy I would suggest that legacy is both financial and non-financial. I have come to look at legacy as your gift to the future to help others find their own success. Read More