True Family Wealth & the Business of Family
What would happen if your family came together to agree on common values that gave you a clear identity of who you are and what you are about?
What if you were unified as a family with a common mission and had a strategic plan outlining how you would each work to support one another to achieve the goals of that plan? What if, as a family, you found a structure and process that could pool your resources in such a way as to empower your results by magnifying your opportunities? What if you saw yourselves as a loving family—as well as a kick-ass team—that knows you are so much stronger and impactful together. What if you realized that your own objectives could be met more easily if you also worked together to achieve a grander group objective?
The “business of family” would happen, that’s what. In my book True Family Wealth: Love Money & an Inspired Life I describe how applying the Family Treasury Model can help your family become a tool of empowerment for generations to come. You don’t have to be in the family business to develop a family business plan.
The Family Treasury model is based on the understanding that a family already acts much the same as a business does, albeit all too often a dysfunctional one! Using best practices and proven processes, The Family Treasury enhances the power of the family team to achieve its objectives. It recognizes that with the proper tools, awareness, and attitude, and a network of supportive professional advisers, a family can be stronger and more impactful together than they can apart. By combining the principles and operating frameworks of successful strong businesses with those of successful strong families, True wealth can be created and sustained that can enable all family members to thrive.
Whether or not your family is in business together, The Family Treasury can work for you because it’s not so much about families in business as it is about the business of family.
The cornerstone belief of The Family Treasury is that business is a beautiful thing. The Family Treasury models itself after business while not necessarily being a business. Business creates the goods and services our society needs to function. It also generates the careers and jobs we hold and the money we earn. In business, we can grow as people, stretch our creativity, and work together as a team to realize a fabulous dream. We help one another to be the best we can be, learn life lessons, and find a place of belonging. When done well, a business can be a sustainable success not just to benefit the current participants but also subsequent generations. This does not occur by luck. It happens when conscious attention is focused on implementing learned best practices and applying discipline and commitment to follow them through.
So why should the long-term success of a family require anything less?
About Chris Clarke
Chris Clarke is the author of True Family Wealth Love, Money and an Inspired Life. Her personal passion is to help families rethink what money means. Her book, Is the culmination of her years working with families in which she offers tried and true practical strategies to help transcend the issues surrounding money and relationships – while developing financial acumen and an “attitude of gratitude” within the next generation of wealth stewards. https://www.truefamilywealth.ca/