In this podcast, I talk about the kinds of people you need to find to help you move forward in business or as a family. From my experience with Riffs, I can remember three types of people that fundamentally changed how our business functioned: technical experts, people with many connections, and people who assess you and your team’s performance honestly. There are other kinds of people, but these are definitely essential.

When it comes to doing something new, it is almost required to include an expert. Even if you’re just trying to make more bacon, it can only help to have someone who knows what they’re talking about.

Another type of person is the super-connector. Don’t just listen to anyone who says “I know people,” though. A very connected person knows a bunch of people in the industry. Sometimes they can tell you things it would take years to learn, or get you in front of that one key person you never knew existed. You have to seek out and curate these relationships. Don’t just focus on running your business and forget to make relationships.

Finally, make sure there are people around you that can tell you what’s really going on. If you don’t have someone that can keep you honest, you’re never going to see failure coming until it is already too late. Same goes for your team. Make sure there are people who know what they’re talking about who are willing to honestly criticize.

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When the economy turns, new advisors and strategists approach successful families. These families want to save what they can and shelter the storm. In good times, they want to be efficient and save on taxes or other expenses. Many consultants do very good work. They are invaluable and do come into your life only temporarily. But not all of them do good work. Some of them do harm. Here's how you should approach their use.

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In this podcast, Mason goes over the unsung - even mocked - role of preparedness. You see it in movies and TV shows; the middle manager running everyone through an ineffective fire drill, the dad showing everyone where to go in case of a tornado. There's no denying it, it's lame. There is also no denying that practice makes perfect. If you can look back at the silly drills you had to run, a crisis will seem so much less scary. This podcast is a call to start being the guy in your family that makes them practice. Or, at least, to make you find the person in your family you're going to make do it for you. Making this happen doesn't just prepare you for the worst, it can help bring your family closer together, and even build relationships with your key advisors. When you run drills, you shouldn't just include your family. Include important people in your circle to get them used to dealing with your family. Build relationships.

If you can do this consistently, your family can separate themselves from the families that just achieved success, but weren't able to create stability and security.

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In today's podcast, Michael talks about the extra things you need to do in your yearly plans. How to make sure your family not only moves towards its goals, but is also ready for anything that life throws your way? This podcast talks about how to proactively plan for crises and how to maintain your family governance throughout.

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In this episode, I go over how your planning and vision has to change as your family does. It is not just about the money. In fact, the easiest way to make a restrictive plan is to plan just for the money - make a trust that pays out at 35 and give up planning right there.

When you’re creating a Family Vision, you need to always lay out the path forward. I know I was confused when Riffs was just getting started. Without a vision for the business, I had no idea what it meant to participate in helping the family. Don’t make that mistake. As your family grows and changes, you need to make sure you reach certain checkpoints, otherwise you’ll quickly run out of road and into chaos.

Family Board Starter Pack:

https://shop.familyprosperitypartners.com/products/diy-family-board-starter-packFOLLOW Family Prosperity Partners everywhere:

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In today's podcast, Michael talks about how you can take each family member's individual vision for the future and create a shared family vision. Michael also talks about how each family member can leverage their talents for the benefit of everyone. Shared goals and a shared vision are essential to keeping your family together for the long term.

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In this podcast, Mason goes over how retirement isn’t the end of your contributions to a family enterprise. It is the most important part. This is so difficult, because if you don’t lay the groundwork early, there is no way for you to participate in big decisions from the moment you relinquish the CEO position. If you try to do this at the last second, or wait until you can’t handle running a business anymore, you just have to hope things go well, and you lose your primary focus in life.

If you can set up a Family Board ahead of time, there are infinite ways you can use your wisdom, strategic thinking, and experience to bring incredible value to the family. You can set things up so your life doesn’t end when you retire.

Family Diagnostic

https://shop.familyprosperitypartners.com/pages/family-diagnostic-pdf

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It is always important to keep growing and oving forward. That is why planning out your vision is so important. If you don't know where you are going, you might get stuck. At some point, you will need to leave your business. If you can't let go and move forward, you can hold your entire family back. The Watsons survived this. Many families are not so lucky.

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In this podcast, Mason discusses his experience with families who were successful from a monetary standpoint, but didn't take care of their family members.

One way you can set your family up for failure is by leaving everything in a trust and dumping the money on your kids when they turn 35. Or, you can make sure they have infinite money to spend from the second they can walk. Either way works to mess up your children.

When we plan for our financial futures, we are willing to pay huge sums of money to competent professionals. When it comes to taking care of ourselves and our family, though, we often skimp or feel like we "aren't there yet."

If you have had success in life, make sure it isn't just money. Include serious plans to take vacations, groom the next generation of leaders, and make sure people always know where they can get help.

FOLLOW Family Prosperity Partners everywhere:

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When you think about your goals and your dreams for your family, your vision is probably very ambitious. Sometimes your vision might have goals that take more than one generation to achieve. These visions must guide you to goals that can be achieved and put to use in growing your family. The main purpose of your individual vision is to create goals that will allow you to grow and allow your family to grow. This podcast discusses how to have an ambitious vision and still create practical goals for growth.

FOLLOW Family Prosperity Partners everywhere:

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