Minding Your Business Newsletter #39: The Wealth Paradox

By Andrew Connors

Minding Your Business

Information for Entrepreneurs & Those Who Serve Them

The Wealth Paradox

In this month’s episode of Minding Your Business, Andrew delves into the concept of the wealth paradox — the difference between creating wealth, and sustaining wealth. Watch the video below to identify the differences between cash flow wealth and net worth wealth, as well as the behaviors that will allow you and your business to sustain your wealth.

Additional Resources for Business Owners

Entrepreneurs Corner – EOS

Having strong core processes for your business can save untold wasted hours trying to solve the wrong problems. It is important for leadership teams to first review and agree on the core process before finalization.

Be sure to answer these questions in five keys areas for a successful implementation.

Middle Market Corner

Business transitions are a common occurrence in the middle market. While the vast majority result in high levels of satisfaction and largely positive experiences, there are always bumps in the road.

Contemplate these four matters that need consideration.

Family Business Corner

Although it may not be considered a business in the traditional sense by some, the vast wealth controlled by the royal family indicates it is an enterprise that does have many business parallels.

Click here to read how the longtime matriarch to this family business, Queen Elizabeth, set an example on how to plan for a smooth transition.

Wealth Management Corner

Managing family finances can prove tricky under any circumstances. That becomes even more relevant with blended families. Careful planning and proactive communication are vital to avoiding major problems.

Consider these crucial topics when preparing to blend family finances.

Andrew R. Connors, CFP®, CEPA

Managing Director, Chief Growth Officer, Business Owner Leader
(216) 431-2754
Click here to schedule an appointment.

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