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Shift Your Family Business  |  Monthly Insights  | June 2019

Tip of the month:

 
Dads and Grads
 
Each June we see ads targeting Father's Day and Graduations, commonly known as "Dads and Grads".  So let's combine them together into this month's Tip of the Month.  If you run a family business and one of your kids just graduated, how about offering them an opportunity.  
 
No, I'm not suggesting you offer them a job in your family business.  I'm suggesting you offer them the chance to NOT work for you, but to go find a job somewhere else.  You may even want to push them to do this and "make them" do it.  The rewards from this will not come quickly, but decades from now, it will be very clear how important this was for them to develop their own confidence and ability to do things on their own, not just because they had the right last name.
 
 

What's New:

Many of you know that I've been working on my next book for the past several months.  I'm happy to let everyone know that we're just about at the finish line.
 
Interdependent Wealth – How Family Systems Theory Illuminates Successful Intergenerational Wealth Transitions, will be available from Amazon in the coming weeks.
 
If you would like to pre-order it now, you can do so at the link above, and you'll receive it from Amazon in early July.
 

Blog of the Month:

If the term “continuity planning” sounds new, it’s mostly just a newer, less threatening, and more accurate term for something that family businesses have been doing since, well, forever.  

Only most of them call it “succession planning”.

Read more >


Quote of the month:


 

Outside link of the month:
 



Until next month's newsletter.
I hope you enjoy my weekly blogs in between.




Steve Legler
MBA, CFA, FEA
Family Business Advisor
450-923-9393
http://shiftyourfamilybusiness.com/
 
 
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