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Our Thinking

Unique insights to drive your family and family office forward, authored by Family Capital Strategy

08/06/2021 – Issue 436

This week’s highlights:  Meetings in Person, Michael Dell, and Crawfish Farming


Indycar comes to Nashville this weekend for the inaugural Music City Grand Prix
Photo by Ayden Sutton on Unsplash

Issue 436

Happy Friday!

Hope you have a great weekend

Original Content:

  • How to Keep a Vacation Home From Becoming an Albatross.  80% of wealthy families own at least 2 homes – the average owning 2.7.  Yet with this being such a common phenomena, I found comparatively little analysis about the pros and cons of owning additional property.  And as you might imagine, there are a lot of factors at play, and hint, investment return is not really the most significant. 

Best,
David

In the FoF Community

One of the pleasures of editing and publishing FoF each week is getting to keep up with a dynamic and creative community of readers.  I wanted to highlight briefly one thing that might be of interest.  Not surprising to some of you, I have had a long-term interest in business strategy, since probably the age of five when I started grabbing brochures and catalogs from companies to keep in my briefcase (long-story).   This interest in strategy was greatly enhanced during my time at Wake Forest and specifically through a professor there, Dr. Page West.  

I had the privilege of studying for a semester in London with Dr. West, and took several of his courses on entrepreneurial strategy.  Dr. West has long been a mentor and friend.  For years, he has written and published one of the top strategy textbooks, which he has now adapted into a more digestible bite size called Strategy Foundations*.  If you have never taken a business school class, or it has been awhile, these short volumes present cutting-edge ideas about designing, executing and assessing business strategy. Definitely worth a look.


Food for Thought


Business


Culture / Arts/ Tech / Science


My Book:

When Anything is Possible – Wealth and the Art of Strategic Living

I wrote the book because of a problem I saw and experienced personally.  As we pursue our dreams and achieve success, financial wealth is often a natural result. 

Yet, the first steps we take to manage this wealth are focused on avoiding negative outcomes (unnecessary taxes, estate issues, losses in the stock market), rather than articulating what we actually want to do with our wealth.

The book is about how we shift from focusing on the things we want to avoid, to the things we want to accomplish with our wealth.  Doing so requires a person to articulate 3 key items –  Wealth Structure, Wealth Identity and ultimately a Wealth Strategy.  The book walks through each of these items in great depth, and guides the reader through a process to develop each.

If you are interested in learning more, visit here and download a free chapter.

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