Core Values, Goals & Wealth: A Success Guide
Core Values, Goals & Wealth: A Success Guide
How can business owners integrate family and business priorities?
Family is paramount. For me, this includes not only my wife and two children but also my extended family and my work team. We spend significant time together, often more than I do with my blood relatives. Consequently, both my personal and business decisions are influenced by a family-first mentality.
Growing up in a family-first environment deeply influenced my values, a story I share in my book Financial Planning Made Personal. My mother was diagnosed with cancer when I was thirteen and passed away when I was 23. Additionally, my wife's brother died by suicide in 2004 after a long battle with mental health issues. These life events profoundly impacted me, underscoring the brevity of life and the importance of family. Consequently, family has always been my priority. Whether it involves choosing between attending a client meeting or taking my kids to hockey practice, family commitments come first. This principle is well understood by the families we serve and is a key reason they choose our services.
How can business owners design their lives around core family values?
Achieving a balanced life begins with a fundamental desire and understanding of your core values. Many people get caught up in their daily routines, believing they lack the time for personal priorities. However, if placing family first is essential to you, you must intentionally design your life and goals around this value. It's a common misconception that significant life changes require drastic events, but shifts can also occur through positive experiences like the birth of a child or marriage. The key is to commit to your values and consistently filter your decisions through them, designing a life that aligns with what you truly want rather than adhering to a typical 40-hour workweek without room for personal pursuits.
How can business owners turn their motivations into actionable goals?
If you're uncertain about your goals, here's a simple action plan. Take 15 minutes to write down three specific actions you will start today to work towards your 'why.' Many people have a sense of what they want and their underlying motivations, even if they haven't articulated them yet. By jotting these down and committing to implement them within the next seven to ten days, you transform intent into action. Writing them down not only clarifies your goals but also commits you to achieving them.
What KPIs track long-term client relationships?
Tracking key performance indicators (KPIs) can be challenging, especially when it involves qualitative goals like helping families achieve their objectives. Our primary KPI focuses on the number of families we serve. We aim to establish long-term relationships that extend over multiple generations. We carefully select families facing specific issues, concerns, and challenges that we can address effectively. Our goal is to work with families not just for a few months but for decades, and currently, we are serving some families in the second, third, and even approaching fourth generation. This approach underlines the depth and longevity of the relationships we strive to build.
Why should business owners share personal stories on social media?
I credit my wife, our director of marketing, with a pivotal decision that significantly impacted our business. Initially, I was skeptical about using social media more actively to showcase personal aspects of our lives. My wife insisted that people needed to see more of the real me, including our family activities. Reluctantly, I agreed to try her approach. A turning point came after we shared a family trip to South Africa on social media. Not only did it resonate deeply with clients, like a family who felt they experienced the safari with us through our posts, but it also led to a significant uptick in inquiries for our firm. This experience taught me the value of personal engagement online and has proven to be one of the best business decisions I've made, demonstrating the importance of openness to change and the impact of personal branding.
*This interview has been edited and condensed for clarity.*
