web01.fireside.fm Sun, 19 Apr 2026 09:53:34 -0500 Fireside (https://fireside.fm) The Business of Family - Episodes Tagged with “Second Generation” https://www.businessoffamily.net/tags/second%20generation Mon, 15 Mar 2021 19:00:00 +1000 Mike Boyd interviews successful families and their advisors to learn how they steward their wealth across generations, managing succession issues to "keep it in the family". Very few family businesses do the work and even fewer make it beyond the third generation. Follow along to learn about family governance structures, family office investing, succession planning and raising happy, healthy and enterprising children of wealth. Learn more and subscribe: https://www.businessoffamily.net/ Follow Mike on Twitter: https://twitter.com/MikeBoyd en-us episodic Multigenerational wealth creation involves so much more than just capital accumulation. The most successful families cultivate and collect values, stories, knowledge and resources to pass on to the next generation. The systems and processes to do this are very intentional. Very few do the work and even fewer make it beyond the 3rd generation. Find out how with The Business of Family. Mike Boyd Mike Boyd interviews successful families and their advisors to learn how they steward their wealth across generations, managing succession issues to "keep it in the family". Very few family businesses do the work and even fewer make it beyond the third generation. Follow along to learn about family governance structures, family office investing, succession planning and raising happy, healthy and enterprising children of wealth. Learn more and subscribe: https://www.businessoffamily.net/ Follow Mike on Twitter: https://twitter.com/MikeBoyd no succession, multi-generational wealth, family office, dynasty, legacy, stewardship, next generation, business, family wealth, investing, FO, wealth, investing, inheritance, legacy, heirs, Mike Boyd podcastrss@mikeboyd.com.au Carl Bates - High-Performance Family Boards from New Zealand to Africa http://www.businessoffamily.net/carl-bates cf04f2cc-b9c1-4dff-ad9b-051dd72f8ad0 Mon, 15 Mar 2021 19:00:00 +1000 Mike Boyd full 1 Mike Boyd Carl Bates is Africa's leading educator, appointer and guide of High-Performance boards. As the Founding Partner of Sirdar, he is world renowned for his practical understanding of governance and is constantly invited to share his knowledge and insight on the subject - in Africa, Sirdar is the largest provider of independent non-executive directors to private companies and family businesses 51:47 no Carl Bates (https://carlbates.com/) is Africa's leading educator, appointer and guide of High-Performance boards. As the Founding Partner of Sirdar (https://sirdargroup.com/), he is world renowned for his practical understanding of governance and is constantly invited to share his knowledge and insight on the subject - in Africa, Sirdar is the largest provider of independent non-executive directors to private companies and family businesses. As a G2 entrepreneur, Carl works closely with his Mother and spouse in his family property business in New Zealand, bringing real world insights to his professional service clients. Carl is particularly passionate about how boards can transform and scale-up privately-held and family companies. Standout Quotes: * "There's a difference between craftsmanship and entrepreneurship" - [Carl] * "And I like the term 'Contribution', it's all about what we have to give and finding ways of being more effective in that" - [Carl] * "I think having a purpose as a business is fundamental to what building longevity in any business is about" - [Carl] * "In businesses, we can see a direct correlation between the makeup of the group of people at the top and the financial performance of the business" - [Carl] * "It is a privilege that a family has when they're right at the beginning of the journey, and they make the decision to become a family business... and they put in place the structures at that point because it's a lot less emotional to argue about something that is 10 or 20 years out, than being in the middle of that thing in 20 years time" - [Carl] * "Families need to define 'well, what does family mean to you?' - [Carl] * "The larger the number of beneficiaries of the family, the bigger the governance framework needs to be at a family level" - [Carl] * "There's no such thing as an 'Original Mistake', there are so many families and so many boards around the world who have done this so many times before you, that rather than try and make an original mistake, go and see what other people have done" - [Carl] Key Takeaways: * Carl recalls he initially had no desire to live in Africa, a few years after this, he repeatedly had cause to travel there on business and realized he had to stay, creating offices all around Africa which help families and companies to develop their boards of directors. * Starting University at 15 years and becoming a chartered accountant by 21 years, he had always wondered why even though each generation of his family had successful entrepreneurs, there was no build-up and transfer of wealth to the next generation. * Knowing most of his great grandparents personally helped instill values that formed the foundation for the role he currently plays in business generally. * Carl shares that the purpose of his family business is giving people a place to call home. * Explaining the benefits and process of introducing new family members. Carl notes that the disparity in the energy levels between him, his wife, and other family members, allows for productivity to be maximized in different areas. * So often the succession planning is focused on when the person passes away, but if we don't take other family members on a journey of understanding the business over time, when the time comes they won't have the understanding of it to enable a successful transition. * The Contribution Compass is a tool used to understand family members as individuals, their personalities, and predict the expected roles they would play in the family. It is also used in business as a commercial tool since there is a direct correlation between the make-up of business leaders in any business and the success of that business. * Regarding the formality surrounding the entry of other family members into the family business, Carl discloses that nothing would be gifted and members would have to buy into the business. He also emphasizes the need to legalize every aspect of this entry as he recommends for his clients too. * I encourage family members to deal with things when they're not topical because that's when it's least emotional. * Regarding planning ahead for families, the best place to start is to understand that being a shareholder doesn't necessarily mean sitting around the board table. It is also important to understand Family Governance from the perspective of defining what family means to each member. * The Governance structure is predominantly focused on determining directly family-related issues but the Operational Board side is driven by the underlying Family business. This is where families go wrong; when they cannot differentiate between Family Governance and Governance of a Profit Generation Entity. * While sometimes the family traditions do serve the purpose of bonding, in other cases, there is some resentment on the expectations from different family members based on such traditions. * From Carl to his kids: It is important to spend time with your grandparents and great grandparents or people connected to them from that generation because there are threads that enable you to understand how your family has developed, and what the core values or cornerstones of success for you family are, through that time of engagement. Episode Timeline: * [00:49] Introducing today's guest, Carl Bates * [04:04] Carl shares his professional backstory. * [14:28] The purpose of Carl's family business. * [16:17] Apart from you and your mother, are there other family members involved? * [22:43] The Contribution Compass * [28:00] In terms of families planning ahead, where do we start? * [30:39] Where does the distinction lie between a Family Council and the Operating Board? * [34:33] Differentiating between a Family Council and a Family Forum. * [36:45] What is one of the biggest challenges that families have when trying to put a governance structure in place for the first time? * [38:12] Comparing an Operational Family Business with one that is just "stewarding the wealth". * [43:50] How are families celebrating their uniqueness and traditions over the years? * [48:50] Carl's letter to his kids. For more episodes go to BusinessOfFamily.net (https://www.businessoffamily.net/) Sign up for The Business of Family Newsletter (https://www.businessoffamily.net/newsletter) Follow Mike on Twitter @MikeBoyd (https://twitter.com/MikeBoyd) If you feel it's appropriate, I'd so appreciate you taking 30 seconds to Leave a Review on iTunes (http://getpodcast.reviews/id/1525326745), I receive a notification of each review. Thank you! Special Guest: Carl Bates. multi-generational wealth, family office, dynasty, legacy, succession, stewardship, next generation, business, family wealth, investing, FO, global citizen, nomad, taxation, wealth, portfolio manager, trader, real estate investor, multi-family, multifamily office, investor, inheritance, heirs, Carl Bates is Africa's leading educator, appointer and guide of High-Performance boards. As the Founding Partner of Sirdar, he is world renowned for his practical understanding of governance and is constantly invited to share his knowledge and insight on the subject - in Africa, Sirdar is the largest provider of independent non-executive directors to private companies and family businesses.

As a G2 entrepreneur, Carl works closely with his Mother and spouse in his family property business in New Zealand, bringing real world insights to his professional service clients. Carl is particularly passionate about how boards can transform and scale-up privately-held and family companies.

Standout Quotes:

  • "There's a difference between craftsmanship and entrepreneurship" - [Carl]
  • "And I like the term 'Contribution', it's all about what we have to give and finding ways of being more effective in that" - [Carl]
  • "I think having a purpose as a business is fundamental to what building longevity in any business is about" - [Carl]
  • "In businesses, we can see a direct correlation between the makeup of the group of people at the top and the financial performance of the business" - [Carl]
  • "It is a privilege that a family has when they're right at the beginning of the journey, and they make the decision to become a family business... and they put in place the structures at that point because it's a lot less emotional to argue about something that is 10 or 20 years out, than being in the middle of that thing in 20 years time" - [Carl]
  • "Families need to define 'well, what does family mean to you?' - [Carl]
  • "The larger the number of beneficiaries of the family, the bigger the governance framework needs to be at a family level" - [Carl]
  • "There's no such thing as an 'Original Mistake', there are so many families and so many boards around the world who have done this so many times before you, that rather than try and make an original mistake, go and see what other people have done" - [Carl]

Key Takeaways:

  • Carl recalls he initially had no desire to live in Africa, a few years after this, he repeatedly had cause to travel there on business and realized he had to stay, creating offices all around Africa which help families and companies to develop their boards of directors.
  • Starting University at 15 years and becoming a chartered accountant by 21 years, he had always wondered why even though each generation of his family had successful entrepreneurs, there was no build-up and transfer of wealth to the next generation.
  • Knowing most of his great grandparents personally helped instill values that formed the foundation for the role he currently plays in business generally.
  • Carl shares that the purpose of his family business is giving people a place to call home.
  • Explaining the benefits and process of introducing new family members. Carl notes that the disparity in the energy levels between him, his wife, and other family members, allows for productivity to be maximized in different areas.
  • So often the succession planning is focused on when the person passes away, but if we don't take other family members on a journey of understanding the business over time, when the time comes they won't have the understanding of it to enable a successful transition.
  • The Contribution Compass is a tool used to understand family members as individuals, their personalities, and predict the expected roles they would play in the family. It is also used in business as a commercial tool since there is a direct correlation between the make-up of business leaders in any business and the success of that business.
  • Regarding the formality surrounding the entry of other family members into the family business, Carl discloses that nothing would be gifted and members would have to buy into the business. He also emphasizes the need to legalize every aspect of this entry as he recommends for his clients too.
  • I encourage family members to deal with things when they're not topical because that's when it's least emotional.
  • Regarding planning ahead for families, the best place to start is to understand that being a shareholder doesn't necessarily mean sitting around the board table. It is also important to understand Family Governance from the perspective of defining what family means to each member.
  • The Governance structure is predominantly focused on determining directly family-related issues but the Operational Board side is driven by the underlying Family business. This is where families go wrong; when they cannot differentiate between Family Governance and Governance of a Profit Generation Entity.
  • While sometimes the family traditions do serve the purpose of bonding, in other cases, there is some resentment on the expectations from different family members based on such traditions.
  • From Carl to his kids: It is important to spend time with your grandparents and great grandparents or people connected to them from that generation because there are threads that enable you to understand how your family has developed, and what the core values or cornerstones of success for you family are, through that time of engagement.

Episode Timeline:

  • [00:49] Introducing today's guest, Carl Bates
  • [04:04] Carl shares his professional backstory.
  • [14:28] The purpose of Carl's family business.
  • [16:17] Apart from you and your mother, are there other family members involved?
  • [22:43] The Contribution Compass
  • [28:00] In terms of families planning ahead, where do we start?
  • [30:39] Where does the distinction lie between a Family Council and the Operating Board?
  • [34:33] Differentiating between a Family Council and a Family Forum.
  • [36:45] What is one of the biggest challenges that families have when trying to put a governance structure in place for the first time?
  • [38:12] Comparing an Operational Family Business with one that is just "stewarding the wealth".
  • [43:50] How are families celebrating their uniqueness and traditions over the years?
  • [48:50] Carl's letter to his kids.

For more episodes go to
BusinessOfFamily.net

Sign up for The Business of Family Newsletter

Follow Mike on Twitter @MikeBoyd

If you feel it's appropriate, I'd so appreciate you taking 30 seconds to Leave a Review on iTunes, I receive a notification of each review. Thank you!

Special Guest: Carl Bates.

Sponsored By:

Links:

  • Carl Bates — Carl Bates is an entrepreneur focused on creating meaningful economic impact within the countries and economies in which he has the opportunity to participate.
  • Sirdar Group — ‘Sirdar’ is the name given to the lead Sherpa on a mountain expedition. Where others view a high mountain as a great challenge or an insurmountable obstacle, the sirdar sees it as a clear path of opportunity. The sirdar builds the right team, chooses the correct route and knows when to go for the summit.
]]> Carl Bates is Africa's leading educator, appointer and guide of High-Performance boards. As the Founding Partner of Sirdar, he is world renowned for his practical understanding of governance and is constantly invited to share his knowledge and insight on the subject - in Africa, Sirdar is the largest provider of independent non-executive directors to private companies and family businesses.

As a G2 entrepreneur, Carl works closely with his Mother and spouse in his family property business in New Zealand, bringing real world insights to his professional service clients. Carl is particularly passionate about how boards can transform and scale-up privately-held and family companies.

Standout Quotes:

  • "There's a difference between craftsmanship and entrepreneurship" - [Carl]
  • "And I like the term 'Contribution', it's all about what we have to give and finding ways of being more effective in that" - [Carl]
  • "I think having a purpose as a business is fundamental to what building longevity in any business is about" - [Carl]
  • "In businesses, we can see a direct correlation between the makeup of the group of people at the top and the financial performance of the business" - [Carl]
  • "It is a privilege that a family has when they're right at the beginning of the journey, and they make the decision to become a family business... and they put in place the structures at that point because it's a lot less emotional to argue about something that is 10 or 20 years out, than being in the middle of that thing in 20 years time" - [Carl]
  • "Families need to define 'well, what does family mean to you?' - [Carl]
  • "The larger the number of beneficiaries of the family, the bigger the governance framework needs to be at a family level" - [Carl]
  • "There's no such thing as an 'Original Mistake', there are so many families and so many boards around the world who have done this so many times before you, that rather than try and make an original mistake, go and see what other people have done" - [Carl]

Key Takeaways:

  • Carl recalls he initially had no desire to live in Africa, a few years after this, he repeatedly had cause to travel there on business and realized he had to stay, creating offices all around Africa which help families and companies to develop their boards of directors.
  • Starting University at 15 years and becoming a chartered accountant by 21 years, he had always wondered why even though each generation of his family had successful entrepreneurs, there was no build-up and transfer of wealth to the next generation.
  • Knowing most of his great grandparents personally helped instill values that formed the foundation for the role he currently plays in business generally.
  • Carl shares that the purpose of his family business is giving people a place to call home.
  • Explaining the benefits and process of introducing new family members. Carl notes that the disparity in the energy levels between him, his wife, and other family members, allows for productivity to be maximized in different areas.
  • So often the succession planning is focused on when the person passes away, but if we don't take other family members on a journey of understanding the business over time, when the time comes they won't have the understanding of it to enable a successful transition.
  • The Contribution Compass is a tool used to understand family members as individuals, their personalities, and predict the expected roles they would play in the family. It is also used in business as a commercial tool since there is a direct correlation between the make-up of business leaders in any business and the success of that business.
  • Regarding the formality surrounding the entry of other family members into the family business, Carl discloses that nothing would be gifted and members would have to buy into the business. He also emphasizes the need to legalize every aspect of this entry as he recommends for his clients too.
  • I encourage family members to deal with things when they're not topical because that's when it's least emotional.
  • Regarding planning ahead for families, the best place to start is to understand that being a shareholder doesn't necessarily mean sitting around the board table. It is also important to understand Family Governance from the perspective of defining what family means to each member.
  • The Governance structure is predominantly focused on determining directly family-related issues but the Operational Board side is driven by the underlying Family business. This is where families go wrong; when they cannot differentiate between Family Governance and Governance of a Profit Generation Entity.
  • While sometimes the family traditions do serve the purpose of bonding, in other cases, there is some resentment on the expectations from different family members based on such traditions.
  • From Carl to his kids: It is important to spend time with your grandparents and great grandparents or people connected to them from that generation because there are threads that enable you to understand how your family has developed, and what the core values or cornerstones of success for you family are, through that time of engagement.

Episode Timeline:

  • [00:49] Introducing today's guest, Carl Bates
  • [04:04] Carl shares his professional backstory.
  • [14:28] The purpose of Carl's family business.
  • [16:17] Apart from you and your mother, are there other family members involved?
  • [22:43] The Contribution Compass
  • [28:00] In terms of families planning ahead, where do we start?
  • [30:39] Where does the distinction lie between a Family Council and the Operating Board?
  • [34:33] Differentiating between a Family Council and a Family Forum.
  • [36:45] What is one of the biggest challenges that families have when trying to put a governance structure in place for the first time?
  • [38:12] Comparing an Operational Family Business with one that is just "stewarding the wealth".
  • [43:50] How are families celebrating their uniqueness and traditions over the years?
  • [48:50] Carl's letter to his kids.

For more episodes go to
BusinessOfFamily.net

Sign up for The Business of Family Newsletter

Follow Mike on Twitter @MikeBoyd

If you feel it's appropriate, I'd so appreciate you taking 30 seconds to Leave a Review on iTunes, I receive a notification of each review. Thank you!

Special Guest: Carl Bates.

Sponsored By:

Links:

  • Carl Bates — Carl Bates is an entrepreneur focused on creating meaningful economic impact within the countries and economies in which he has the opportunity to participate.
  • Sirdar Group — ‘Sirdar’ is the name given to the lead Sherpa on a mountain expedition. Where others view a high mountain as a great challenge or an insurmountable obstacle, the sirdar sees it as a clear path of opportunity. The sirdar builds the right team, chooses the correct route and knows when to go for the summit.
]]> Nike Anani - Building a Generational Bridge in African Family Firms http://www.businessoffamily.net/nike-anani 918a28f5-8e5f-4aa7-a7ad-f21ca93808ea Mon, 01 Mar 2021 19:00:00 +1000 Mike Boyd full 1 Mike Boyd Nike is the founder and CEO of Nike Anani Practice, Ltd., in Lagos, Nigeria, where she helps second-generation family business members collaborate with the founding generation in an effort to build sustainable family enterprises in the region. 1:01:54 no Nike is the founder and CEO of Nike Anani Practice, Ltd., in Lagos, Nigeria, where she helps second-generation family business members collaborate with the founding generation in an effort to build sustainable family enterprises in the region. No more than 2% of African family businesses successfully transition power to the second generation, and Nike has made it her mission to facilitate this generational merge. With over a decade of experience working with select business families in Africa, Nike Anani (https://nikeanani.com/) helps owners lead their family organizations to long-term impact and legacy. Her clients choose to engage her, not only because of her extensive professional training, but also because of her practical experience as both a business founder and a NextGen (https://nikeanani.com/nextgen-the-turning-wheel/). This allows her to uniquely empathise with both generations and act as a connector to the Founding generation. Standout Quotes: * "And that's an observation I have of founders and entrepreneurs, they're just amazing people that have an eye for opportunity" - [Nike] * "As most founders do, it was about giving me the best opportunity to set me up for success and often in their minds, success is going as far away from the business to get the best experience...so they can come back" - [Nike] * "In Nigeria, 90% of indigenous businesses are family businesses, but only 2% survive beyond the founder" - [Nike] * "Family businesses are so key to the community, if they keep failing after a generation, then what's that doing to the economy?" - [Nike] * "I think that starting from a relatively small base, the best way to build anything is with community, and actually building what that community wants rather than just dictating something that you found off the shelf from another culture" - [Mike] * "If you've seen one family business, you've seen one family business" - [Nike] * "A friend of mine says whenever you wake up is your morning, some people don't wake up until they're 85, they don't know what they want" - [Nike] * "I need to be in the best version of myself so I can serve people to the best of my ability" - [Nike] * "There's always something new to learn, we've never arrived, we're just on this ongoing journey of endless learning, in my view" - [Nike] * "There's no position that's guaranteed in life, whether it be a position of material success or honor, today you might be celebrated but it doesn't mean tomorrow you will be" - [Nike] * "It is important to ensure that people's external projections don't become your internal story, because your story is the most powerful thing that you can give yourself" - [Nike] Key Takeaways: * Nike is a 2nd generation family business owner, and she narrates how her father started the family business initially as a side-hustle. * Describing events around her entry into the business, she shares the plan was to only stay for a few months in Nigeria, gain exposure to business in general, and move back to the UK eventually. However, she was drawn to the spirit of entrepreneurship there and felt more liberated as a young black female. * Nike explains that while her father had expressed general support for her in any field she was planning to go into, she had never expected she would work in the family business. * A glaring disparity in the decision-making process between her former place of work and the family business was the time taken which could be much shorter or longer in different scenarios, leaving her befuddled about family business as a whole. This encouraged her to get professional education at the Family Firm Institute in Boston. * Employing her knowledge in her family business, Nike started the process of "Governance" which involved her siblings more, intending to avert the typical dissolution that plagued most Nigerian family businesses after the founding generation. * Another strategy adopted involved starting the conversation by creating a community called "African Family Firms" for African families facing similar challenges to meet and navigate through these issues. * Nike highlights various peculiarities of African families, noting how these have to be put into consideration when trying to find solutions to the survival of family businesses in Africa. * You won't know what you want until you come together as a family, have open conversations, and plan for different scenarios. Get clear as a family on who you are, what your values are, the goals of the family, and the purpose of the family business. * Emphasizing the importance of continuous learning, Nike embraces the process as a part of being the best version of herself. * A significant failure that set her up for success took place in school, where the result she got at some point would not be good enough for the jobs she wanted, and this motivated her to push herself harder than ever before to achieve her desired goal. * Nike’s parents impressed upon her certain values described as 4Hs and 2Ps. The 4Hs are Honesty, Hard work, Humility, and Harmony while the 2Ps are People and Places. All of these were included in the family constitutional value system when the formal family enterprise was set up. * It is important to understand that while people can project their weaknesses onto you and vilify you, their external projections should not become your internal story because your story is the most powerful thing you can give yourself, and you have to hold on to that story. Episode Timeline: * [00:50] Meet Today's guest, 'Nike Anani'. * [01:56] Nike's personal and professional background. * [08:30] How did the family make the jump from medical consumables to construction and building hospitals? * [16:55] How were you inspired to learn more about the Business of Family? * [23:00] Since the wake-up call that you received, what did you do about it for your own family or your friends' families? * [29:50] Do people document entitlements for kin or rather more of a bloodline lineage? * [32:53] Challenges surrounding Real Estate planning in Africa. * [39:18] An overview of Nike's different roles in family business generally. * [50:15] Has there been a specific failure that you've learned a great deal from? * [56:00] Apart from education, what else came through as fundamentally important from your parents? * [59:40] Nike's letter to her kids. For more episodes go to BusinessOfFamily.net (https://www.businessoffamily.net/) Sign up for The Business of Family Newsletter (https://www.businessoffamily.net/newsletter) Follow Mike on Twitter @MikeBoyd (https://twitter.com/MikeBoyd) If you feel it's appropriate, I'd so appreciate you taking 30 seconds to Leave a Review on iTunes (http://getpodcast.reviews/id/1525326745), I receive a notification of each review. Thank you! Special Guest: Nike Anani. multi-generational wealth, family office, dynasty, legacy, succession, stewardship, next generation, business, family wealth, investing, FO, global citizen, nomad, taxation, wealth, portfolio manager, trader, real estate investor, multi-family, multifamily office, investor, inheritance, heirs, Nike is the founder and CEO of Nike Anani Practice, Ltd., in Lagos, Nigeria, where she helps second-generation family business members collaborate with the founding generation in an effort to build sustainable family enterprises in the region. No more than 2% of African family businesses successfully transition power to the second generation, and Nike has made it her mission to facilitate this generational merge.

With over a decade of experience working with select business families in Africa, Nike Anani helps owners lead their family organizations to long-term impact and legacy.

Her clients choose to engage her, not only because of her extensive professional training, but also because of her practical experience as both a business founder and a NextGen. This allows her to uniquely empathise with both generations and act as a connector to the Founding generation.

Standout Quotes:

  • "And that's an observation I have of founders and entrepreneurs, they're just amazing people that have an eye for opportunity" - [Nike]
  • "As most founders do, it was about giving me the best opportunity to set me up for success and often in their minds, success is going as far away from the business to get the best experience...so they can come back" - [Nike]
  • "In Nigeria, 90% of indigenous businesses are family businesses, but only 2% survive beyond the founder" - [Nike]
  • "Family businesses are so key to the community, if they keep failing after a generation, then what's that doing to the economy?" - [Nike]
  • "I think that starting from a relatively small base, the best way to build anything is with community, and actually building what that community wants rather than just dictating something that you found off the shelf from another culture" - [Mike]
  • "If you've seen one family business, you've seen one family business" - [Nike]
  • "A friend of mine says whenever you wake up is your morning, some people don't wake up until they're 85, they don't know what they want" - [Nike]
  • "I need to be in the best version of myself so I can serve people to the best of my ability" - [Nike]
  • "There's always something new to learn, we've never arrived, we're just on this ongoing journey of endless learning, in my view" - [Nike]
  • "There's no position that's guaranteed in life, whether it be a position of material success or honor, today you might be celebrated but it doesn't mean tomorrow you will be" - [Nike]
  • "It is important to ensure that people's external projections don't become your internal story, because your story is the most powerful thing that you can give yourself" - [Nike]

Key Takeaways:

  • Nike is a 2nd generation family business owner, and she narrates how her father started the family business initially as a side-hustle.
  • Describing events around her entry into the business, she shares the plan was to only stay for a few months in Nigeria, gain exposure to business in general, and move back to the UK eventually. However, she was drawn to the spirit of entrepreneurship there and felt more liberated as a young black female.
  • Nike explains that while her father had expressed general support for her in any field she was planning to go into, she had never expected she would work in the family business.
  • A glaring disparity in the decision-making process between her former place of work and the family business was the time taken which could be much shorter or longer in different scenarios, leaving her befuddled about family business as a whole. This encouraged her to get professional education at the Family Firm Institute in Boston.
  • Employing her knowledge in her family business, Nike started the process of "Governance" which involved her siblings more, intending to avert the typical dissolution that plagued most Nigerian family businesses after the founding generation.
  • Another strategy adopted involved starting the conversation by creating a community called "African Family Firms" for African families facing similar challenges to meet and navigate through these issues.
  • Nike highlights various peculiarities of African families, noting how these have to be put into consideration when trying to find solutions to the survival of family businesses in Africa.
  • You won't know what you want until you come together as a family, have open conversations, and plan for different scenarios. Get clear as a family on who you are, what your values are, the goals of the family, and the purpose of the family business.
  • Emphasizing the importance of continuous learning, Nike embraces the process as a part of being the best version of herself.
  • A significant failure that set her up for success took place in school, where the result she got at some point would not be good enough for the jobs she wanted, and this motivated her to push herself harder than ever before to achieve her desired goal.
  • Nike’s parents impressed upon her certain values described as 4Hs and 2Ps. The 4Hs are Honesty, Hard work, Humility, and Harmony while the 2Ps are People and Places. All of these were included in the family constitutional value system when the formal family enterprise was set up.
  • It is important to understand that while people can project their weaknesses onto you and vilify you, their external projections should not become your internal story because your story is the most powerful thing you can give yourself, and you have to hold on to that story.

Episode Timeline:

  • [00:50] Meet Today's guest, 'Nike Anani'.
  • [01:56] Nike's personal and professional background.
  • [08:30] How did the family make the jump from medical consumables to construction and building hospitals?
  • [16:55] How were you inspired to learn more about the Business of Family?
  • [23:00] Since the wake-up call that you received, what did you do about it for your own family or your friends' families?
  • [29:50] Do people document entitlements for kin or rather more of a bloodline lineage?
  • [32:53] Challenges surrounding Real Estate planning in Africa.
  • [39:18] An overview of Nike's different roles in family business generally.
  • [50:15] Has there been a specific failure that you've learned a great deal from?
  • [56:00] Apart from education, what else came through as fundamentally important from your parents?
  • [59:40] Nike's letter to her kids.

For more episodes go to
BusinessOfFamily.net

Sign up for The Business of Family Newsletter

Follow Mike on Twitter @MikeBoyd

If you feel it's appropriate, I'd so appreciate you taking 30 seconds to Leave a Review on iTunes, I receive a notification of each review. Thank you!

Special Guest: Nike Anani.

Sponsored By:

Links:

]]> Nike is the founder and CEO of Nike Anani Practice, Ltd., in Lagos, Nigeria, where she helps second-generation family business members collaborate with the founding generation in an effort to build sustainable family enterprises in the region. No more than 2% of African family businesses successfully transition power to the second generation, and Nike has made it her mission to facilitate this generational merge.

With over a decade of experience working with select business families in Africa, Nike Anani helps owners lead their family organizations to long-term impact and legacy.

Her clients choose to engage her, not only because of her extensive professional training, but also because of her practical experience as both a business founder and a NextGen. This allows her to uniquely empathise with both generations and act as a connector to the Founding generation.

Standout Quotes:

  • "And that's an observation I have of founders and entrepreneurs, they're just amazing people that have an eye for opportunity" - [Nike]
  • "As most founders do, it was about giving me the best opportunity to set me up for success and often in their minds, success is going as far away from the business to get the best experience...so they can come back" - [Nike]
  • "In Nigeria, 90% of indigenous businesses are family businesses, but only 2% survive beyond the founder" - [Nike]
  • "Family businesses are so key to the community, if they keep failing after a generation, then what's that doing to the economy?" - [Nike]
  • "I think that starting from a relatively small base, the best way to build anything is with community, and actually building what that community wants rather than just dictating something that you found off the shelf from another culture" - [Mike]
  • "If you've seen one family business, you've seen one family business" - [Nike]
  • "A friend of mine says whenever you wake up is your morning, some people don't wake up until they're 85, they don't know what they want" - [Nike]
  • "I need to be in the best version of myself so I can serve people to the best of my ability" - [Nike]
  • "There's always something new to learn, we've never arrived, we're just on this ongoing journey of endless learning, in my view" - [Nike]
  • "There's no position that's guaranteed in life, whether it be a position of material success or honor, today you might be celebrated but it doesn't mean tomorrow you will be" - [Nike]
  • "It is important to ensure that people's external projections don't become your internal story, because your story is the most powerful thing that you can give yourself" - [Nike]

Key Takeaways:

  • Nike is a 2nd generation family business owner, and she narrates how her father started the family business initially as a side-hustle.
  • Describing events around her entry into the business, she shares the plan was to only stay for a few months in Nigeria, gain exposure to business in general, and move back to the UK eventually. However, she was drawn to the spirit of entrepreneurship there and felt more liberated as a young black female.
  • Nike explains that while her father had expressed general support for her in any field she was planning to go into, she had never expected she would work in the family business.
  • A glaring disparity in the decision-making process between her former place of work and the family business was the time taken which could be much shorter or longer in different scenarios, leaving her befuddled about family business as a whole. This encouraged her to get professional education at the Family Firm Institute in Boston.
  • Employing her knowledge in her family business, Nike started the process of "Governance" which involved her siblings more, intending to avert the typical dissolution that plagued most Nigerian family businesses after the founding generation.
  • Another strategy adopted involved starting the conversation by creating a community called "African Family Firms" for African families facing similar challenges to meet and navigate through these issues.
  • Nike highlights various peculiarities of African families, noting how these have to be put into consideration when trying to find solutions to the survival of family businesses in Africa.
  • You won't know what you want until you come together as a family, have open conversations, and plan for different scenarios. Get clear as a family on who you are, what your values are, the goals of the family, and the purpose of the family business.
  • Emphasizing the importance of continuous learning, Nike embraces the process as a part of being the best version of herself.
  • A significant failure that set her up for success took place in school, where the result she got at some point would not be good enough for the jobs she wanted, and this motivated her to push herself harder than ever before to achieve her desired goal.
  • Nike’s parents impressed upon her certain values described as 4Hs and 2Ps. The 4Hs are Honesty, Hard work, Humility, and Harmony while the 2Ps are People and Places. All of these were included in the family constitutional value system when the formal family enterprise was set up.
  • It is important to understand that while people can project their weaknesses onto you and vilify you, their external projections should not become your internal story because your story is the most powerful thing you can give yourself, and you have to hold on to that story.

Episode Timeline:

  • [00:50] Meet Today's guest, 'Nike Anani'.
  • [01:56] Nike's personal and professional background.
  • [08:30] How did the family make the jump from medical consumables to construction and building hospitals?
  • [16:55] How were you inspired to learn more about the Business of Family?
  • [23:00] Since the wake-up call that you received, what did you do about it for your own family or your friends' families?
  • [29:50] Do people document entitlements for kin or rather more of a bloodline lineage?
  • [32:53] Challenges surrounding Real Estate planning in Africa.
  • [39:18] An overview of Nike's different roles in family business generally.
  • [50:15] Has there been a specific failure that you've learned a great deal from?
  • [56:00] Apart from education, what else came through as fundamentally important from your parents?
  • [59:40] Nike's letter to her kids.

For more episodes go to
BusinessOfFamily.net

Sign up for The Business of Family Newsletter

Follow Mike on Twitter @MikeBoyd

If you feel it's appropriate, I'd so appreciate you taking 30 seconds to Leave a Review on iTunes, I receive a notification of each review. Thank you!

Special Guest: Nike Anani.

Sponsored By:

Links:

]]> Tiho Brkan – The Most Interesting Man in the World? Second Passports, Territorial Tax, Mezzanine Finance + MFO Investing http://www.businessoffamily.net/tiho-brkan-2 44ddeb4d-540e-4346-956d-9330426c9ca0 Mon, 22 Feb 2021 19:00:00 +1000 Mike Boyd full 1 Mike Boyd Tiho is back for a second conversation about family office investing, including a deep dive into real estate mezzanine debt investing, uncorrelated assets for downside protection, citizenship by investment, second passports, territorial tax systems and his global view of markets today. 1:08:51 no Tiho Brkan (https://twitter.com/TihoBrkan) is back for a second conversation about family office investing, including a deep dive into real estate mezzanine finance investing, uncorrelated assets for downside protection, citizenship by investment, second passports, territorial tax systems and his global view of markets today. Tiho is a Global Citizen & Investor, and today runs the multifamily office, The Atlas Investor (https://theatlasinvestor.com/) on behalf of his family and other ultra high net worth families and individuals. I've been fortunate to build a friendship with Tiho since connecting last year and always enjoy our multi-hour conversations about the state of the world, investment opportunities and challenging each other to see things from different perspectives. Tiho has a mind like no other person I've met and it's a privilege to listen and learn to him whenever I'm given the opportunity. To hear Tiho's first appearance on the podcast, please visit: Tiho Brkan – Global Deal Flow for Family Office Investors (https://www.businessoffamily.net/tiho-brkan). Standout Quotes: * "Is Cash going to be King or is cash going to be trash?" - [Tiho] * "While it's easy to make money today and everything seems to be working, the question for very smart investors is to anticipate what's around the corner" - [Tiho] * "If you think about a Real Estate cycle, you have 4 stages; Early-stage, mid-cycle, late-stage, and downturn... in Early-stage, you want to be in equity as much as possible" - [Tiho] * "We don't do deals with any developer that doesn't have more than one exit strategy" - [Tiho] * "If a senior lender is doing 37 million, talk to them, ask them about the due diligence because they're putting far more money than you are and they've done it all" - [Tiho] * "The way that you diversify your portfolio, you can also diversify your life" - [Tiho] * "Stick around very experienced people who have been around for a long time, who have survived the cycles... Stick with a talented group of people who have a low personnel turnover" - [Tiho] * "Negotiate... Negotiate... Negotiate" - [Tiho] Key Takeaways: * Mike's previous episode with Tiho Brkan is one of the most downloaded episodes, and by popular demand, he had to bring him for a 2nd episode. * Tiho shares that a lot of investors in this period want to make a lot of money as quickly as possible, as this time is not very suitable for long-term investment. * He explains the reasons why this recession has been the worst in a long time, but this does not reflect in some assets and certain locations. * In normal valuation, reprisals happen where you hold cash which gives you optionality and the ability to be selective, but where money supply around the world is increasing at a rapid speed, is cash going to be King or is cash going to be trash? * Tiho explains that as a contrarian investor, you ride a certain wave until valuations become extreme for you, understanding that high valuations today entail future disappointing returns and so rather, you go and look for relative value elsewhere. * Family offices don't have to be restricted to one type of asset, they have an 'Open Mandate' and Tiho describes the various opportunities available for family offices. Most investors are asking, 'how much money can I make by next Monday?' while he is asking 'How do we only lose 20% rather than 50% in the upcoming downturn?' * The capital stack' and 'Mezzanine debt': There are 3 Real Estate strategies which are Core Real Estate, Value add Real Estate or Opportunistic Real Estate. Mezzanine debt is most commonly a strategy seen in opportunistic Real Estate investment. Mezzanine debt exposure is the most versatile in all 4 stages of the Real-estate cycle(early, mid, late, and downturn). With Mezzanine debt, you can get up to 15% returns per annum. * Tiho's due diligence process before investing: First, the deal must be 'shovel ready' meaning construction starts immediately. Next, note the purpose or theme and planning of the project, location of the project, the track record of the borrower, feasibility studies, the general contractor or quantity surveyor, Securities, and the Exit Strategy. * What is the Monitoring process? This involves Weekly and fortnightly communication to get updates on the project. it may also involve site visits by you or a Real Estate expert, and construction status updates. * Discussing Residence Planning perspective: What is the purpose that we're trying to accomplish here? * The OECD tax model: This is divided into 4 segments of how income is taxed. First is the "No Income Tax", second is "Territorial Tax". "Residence-based Taxation" is third. Last is "Citizenship Based Taxation". * An important investing lesson: Stick around very experienced people who have been around for a long time, who have survived the cycles. Stick with a talented group of people who have a low personnel turnover. * Everything is negotiable in the world of finance. Episode Timeline: * [00:50] Introducing 2nd-time guest "Tiho Brkan", by popular demand. * [02:30] From your perspective, what have you seen evolve over the last few months from this pandemic? * [09:03] Are Contrarian investors nowadays taking advantage of the increased supply of money or sitting on their hands? * [13:52] Discussing the impact of the increase in money supply on preferences regarding the duration of family investments. * [22:38] 'The Capital Stack' and 'Mezzanine debt' in Real Estate projects. * [35:03] Tiho describes in critical detail, his due diligence process before investing in a deal. * [46:00] The 'Monitoring Process' * [52:50] Are there advantages to the double taxation agreement in a cross-border environment that investors should be thinking about? * [57:26] The OECD tax model * [01:05:10] An investing lesson to his kids For more episodes go to BusinessOfFamily.net (https://www.businessoffamily.net/) Sign up for The Business of Family Newsletter (https://www.businessoffamily.net/newsletter) Follow Mike on Twitter @MikeBoyd (https://twitter.com/MikeBoyd) If you feel it's appropriate, I'd so appreciate you taking 30 seconds to Leave a Review on iTunes (http://getpodcast.reviews/id/1525326745), I receive a notification of each review. Thank you! Special Guest: Tiho Brkan. multi-generational wealth, family office, dynasty, legacy, succession, stewardship, next generation, business, family wealth, investing, FO, global citizen, nomad, taxation, wealth, portfolio manager, trader, real estate investor, multi-family, multifamily office, investor, inheritance, heirs, Tiho Brkan is back for a second conversation about family office investing, including a deep dive into real estate mezzanine finance investing, uncorrelated assets for downside protection, citizenship by investment, second passports, territorial tax systems and his global view of markets today.

Tiho is a Global Citizen & Investor, and today runs the multifamily office, The Atlas Investor on behalf of his family and other ultra high net worth families and individuals.

I've been fortunate to build a friendship with Tiho since connecting last year and always enjoy our multi-hour conversations about the state of the world, investment opportunities and challenging each other to see things from different perspectives. Tiho has a mind like no other person I've met and it's a privilege to listen and learn to him whenever I'm given the opportunity.

To hear Tiho's first appearance on the podcast, please visit: Tiho Brkan – Global Deal Flow for Family Office Investors.

Standout Quotes:

  • "Is Cash going to be King or is cash going to be trash?" - [Tiho]
  • "While it's easy to make money today and everything seems to be working, the question for very smart investors is to anticipate what's around the corner" - [Tiho]
  • "If you think about a Real Estate cycle, you have 4 stages; Early-stage, mid-cycle, late-stage, and downturn... in Early-stage, you want to be in equity as much as possible" - [Tiho]
  • "We don't do deals with any developer that doesn't have more than one exit strategy" - [Tiho]
  • "If a senior lender is doing 37 million, talk to them, ask them about the due diligence because they're putting far more money than you are and they've done it all" - [Tiho]
  • "The way that you diversify your portfolio, you can also diversify your life" - [Tiho]
  • "Stick around very experienced people who have been around for a long time, who have survived the cycles... Stick with a talented group of people who have a low personnel turnover" - [Tiho]
  • "Negotiate... Negotiate... Negotiate" - [Tiho]

Key Takeaways:

  • Mike's previous episode with Tiho Brkan is one of the most downloaded episodes, and by popular demand, he had to bring him for a 2nd episode.
  • Tiho shares that a lot of investors in this period want to make a lot of money as quickly as possible, as this time is not very suitable for long-term investment.
  • He explains the reasons why this recession has been the worst in a long time, but this does not reflect in some assets and certain locations.
  • In normal valuation, reprisals happen where you hold cash which gives you optionality and the ability to be selective, but where money supply around the world is increasing at a rapid speed, is cash going to be King or is cash going to be trash?
  • Tiho explains that as a contrarian investor, you ride a certain wave until valuations become extreme for you, understanding that high valuations today entail future disappointing returns and so rather, you go and look for relative value elsewhere.
  • Family offices don't have to be restricted to one type of asset, they have an 'Open Mandate' and Tiho describes the various opportunities available for family offices. Most investors are asking, 'how much money can I make by next Monday?' while he is asking 'How do we only lose 20% rather than 50% in the upcoming downturn?'
  • The capital stack' and 'Mezzanine debt': There are 3 Real Estate strategies which are Core Real Estate, Value add Real Estate or Opportunistic Real Estate. Mezzanine debt is most commonly a strategy seen in opportunistic Real Estate investment. Mezzanine debt exposure is the most versatile in all 4 stages of the Real-estate cycle(early, mid, late, and downturn). With Mezzanine debt, you can get up to 15% returns per annum.
  • Tiho's due diligence process before investing: First, the deal must be 'shovel ready' meaning construction starts immediately. Next, note the purpose or theme and planning of the project, location of the project, the track record of the borrower, feasibility studies, the general contractor or quantity surveyor, Securities, and the Exit Strategy.
  • What is the Monitoring process? This involves Weekly and fortnightly communication to get updates on the project. it may also involve site visits by you or a Real Estate expert, and construction status updates.
  • Discussing Residence Planning perspective: What is the purpose that we're trying to accomplish here?
  • The OECD tax model: This is divided into 4 segments of how income is taxed. First is the "No Income Tax", second is "Territorial Tax". "Residence-based Taxation" is third. Last is "Citizenship Based Taxation".
  • An important investing lesson: Stick around very experienced people who have been around for a long time, who have survived the cycles. Stick with a talented group of people who have a low personnel turnover.
  • Everything is negotiable in the world of finance.

Episode Timeline:

  • [00:50] Introducing 2nd-time guest "Tiho Brkan", by popular demand.
  • [02:30] From your perspective, what have you seen evolve over the last few months from this pandemic?
  • [09:03] Are Contrarian investors nowadays taking advantage of the increased supply of money or sitting on their hands?
  • [13:52] Discussing the impact of the increase in money supply on preferences regarding the duration of family investments.
  • [22:38] 'The Capital Stack' and 'Mezzanine debt' in Real Estate projects.
  • [35:03] Tiho describes in critical detail, his due diligence process before investing in a deal.
  • [46:00] The 'Monitoring Process'
  • [52:50] Are there advantages to the double taxation agreement in a cross-border environment that investors should be thinking about?
  • [57:26] The OECD tax model
  • [01:05:10] An investing lesson to his kids

For more episodes go to
BusinessOfFamily.net

Sign up for The Business of Family Newsletter

Follow Mike on Twitter @MikeBoyd

If you feel it's appropriate, I'd so appreciate you taking 30 seconds to Leave a Review on iTunes, I receive a notification of each review. Thank you!

Special Guest: Tiho Brkan.

Sponsored By:

Links:

]]> Tiho Brkan is back for a second conversation about family office investing, including a deep dive into real estate mezzanine finance investing, uncorrelated assets for downside protection, citizenship by investment, second passports, territorial tax systems and his global view of markets today.

Tiho is a Global Citizen & Investor, and today runs the multifamily office, The Atlas Investor on behalf of his family and other ultra high net worth families and individuals.

I've been fortunate to build a friendship with Tiho since connecting last year and always enjoy our multi-hour conversations about the state of the world, investment opportunities and challenging each other to see things from different perspectives. Tiho has a mind like no other person I've met and it's a privilege to listen and learn to him whenever I'm given the opportunity.

To hear Tiho's first appearance on the podcast, please visit: Tiho Brkan – Global Deal Flow for Family Office Investors.

Standout Quotes:

  • "Is Cash going to be King or is cash going to be trash?" - [Tiho]
  • "While it's easy to make money today and everything seems to be working, the question for very smart investors is to anticipate what's around the corner" - [Tiho]
  • "If you think about a Real Estate cycle, you have 4 stages; Early-stage, mid-cycle, late-stage, and downturn... in Early-stage, you want to be in equity as much as possible" - [Tiho]
  • "We don't do deals with any developer that doesn't have more than one exit strategy" - [Tiho]
  • "If a senior lender is doing 37 million, talk to them, ask them about the due diligence because they're putting far more money than you are and they've done it all" - [Tiho]
  • "The way that you diversify your portfolio, you can also diversify your life" - [Tiho]
  • "Stick around very experienced people who have been around for a long time, who have survived the cycles... Stick with a talented group of people who have a low personnel turnover" - [Tiho]
  • "Negotiate... Negotiate... Negotiate" - [Tiho]

Key Takeaways:

  • Mike's previous episode with Tiho Brkan is one of the most downloaded episodes, and by popular demand, he had to bring him for a 2nd episode.
  • Tiho shares that a lot of investors in this period want to make a lot of money as quickly as possible, as this time is not very suitable for long-term investment.
  • He explains the reasons why this recession has been the worst in a long time, but this does not reflect in some assets and certain locations.
  • In normal valuation, reprisals happen where you hold cash which gives you optionality and the ability to be selective, but where money supply around the world is increasing at a rapid speed, is cash going to be King or is cash going to be trash?
  • Tiho explains that as a contrarian investor, you ride a certain wave until valuations become extreme for you, understanding that high valuations today entail future disappointing returns and so rather, you go and look for relative value elsewhere.
  • Family offices don't have to be restricted to one type of asset, they have an 'Open Mandate' and Tiho describes the various opportunities available for family offices. Most investors are asking, 'how much money can I make by next Monday?' while he is asking 'How do we only lose 20% rather than 50% in the upcoming downturn?'
  • The capital stack' and 'Mezzanine debt': There are 3 Real Estate strategies which are Core Real Estate, Value add Real Estate or Opportunistic Real Estate. Mezzanine debt is most commonly a strategy seen in opportunistic Real Estate investment. Mezzanine debt exposure is the most versatile in all 4 stages of the Real-estate cycle(early, mid, late, and downturn). With Mezzanine debt, you can get up to 15% returns per annum.
  • Tiho's due diligence process before investing: First, the deal must be 'shovel ready' meaning construction starts immediately. Next, note the purpose or theme and planning of the project, location of the project, the track record of the borrower, feasibility studies, the general contractor or quantity surveyor, Securities, and the Exit Strategy.
  • What is the Monitoring process? This involves Weekly and fortnightly communication to get updates on the project. it may also involve site visits by you or a Real Estate expert, and construction status updates.
  • Discussing Residence Planning perspective: What is the purpose that we're trying to accomplish here?
  • The OECD tax model: This is divided into 4 segments of how income is taxed. First is the "No Income Tax", second is "Territorial Tax". "Residence-based Taxation" is third. Last is "Citizenship Based Taxation".
  • An important investing lesson: Stick around very experienced people who have been around for a long time, who have survived the cycles. Stick with a talented group of people who have a low personnel turnover.
  • Everything is negotiable in the world of finance.

Episode Timeline:

  • [00:50] Introducing 2nd-time guest "Tiho Brkan", by popular demand.
  • [02:30] From your perspective, what have you seen evolve over the last few months from this pandemic?
  • [09:03] Are Contrarian investors nowadays taking advantage of the increased supply of money or sitting on their hands?
  • [13:52] Discussing the impact of the increase in money supply on preferences regarding the duration of family investments.
  • [22:38] 'The Capital Stack' and 'Mezzanine debt' in Real Estate projects.
  • [35:03] Tiho describes in critical detail, his due diligence process before investing in a deal.
  • [46:00] The 'Monitoring Process'
  • [52:50] Are there advantages to the double taxation agreement in a cross-border environment that investors should be thinking about?
  • [57:26] The OECD tax model
  • [01:05:10] An investing lesson to his kids

For more episodes go to
BusinessOfFamily.net

Sign up for The Business of Family Newsletter

Follow Mike on Twitter @MikeBoyd

If you feel it's appropriate, I'd so appreciate you taking 30 seconds to Leave a Review on iTunes, I receive a notification of each review. Thank you!

Special Guest: Tiho Brkan.

Sponsored By:

Links:

]]> Aaron Chin - My Ceiling is Your Floor - 2nd Gen Leader of Canadian Health Business [The Business of Family] http://www.businessoffamily.net/aaron-chin e242c464-7f2d-4f6e-883d-03636ec022af Mon, 15 Feb 2021 19:00:00 +1000 Mike Boyd full 1 Mike Boyd Aaron Chin is a second-generation business leader and CEO of Organika, a family-led Canadian company dedicated to providing innovative, premium health products to help inspire people to live healthier lives. 45:22 no Aaron Chin is a second-generation business leader and CEO of Organika (https://organika.com/), a family-led Canadian company dedicated to providing innovative, premium health products to help inspire people to live healthier lives. Growing up in the business motivated Aaron to build on what his father started 30 years ago. Since assuming leadership of Organika, in partnership with his brother Jordan, they have increased business seven-fold and have grown the company into an award-winning, globally recognized brand, focusing on innovation and a vibrant company culture. Standout Quotes: * "You start with the mission of the company and that'll help drive your decisions after". - [Aaron] * "If you can tweak one little thing in your process that could save you 30minutes...do it". - [Aaron] * "You are going to determine yourself, how well you do". - [Aaron] * "I really do believe there's nothing like good old hard work". - [Aaron] * "My relationship with my brother is bigger than the business... I think I can pass that down to my kids" - [Aaron] Key Takeaways: * Aaron's dad had the dream when he moved from Malaysia to Canada to give his kids a chance to get ice cream whenever they wanted. * Following the treatment of his kidney stones using natural products, he started the business with a vision to make healthcare accessible for all. * Despite the rejection, his father persistently put himself and his products out there, till the business took off. * Aaron shares he always had an interest in the family business although his father never tried to impose any expectations to join. * Aaron narrates a simple experience where he noticed the boss employed by his father to manage the business got to the office one morning, and deleted all his office voicemails without listening to any one, inciting Aaron's suspicion of the poor management inherent in the business. * Realizing the diet differences between the newer and older generation, the company pivoted from mostly vitamin pills to be more involved in superfoods, powders, drink mixes. * The surprising eventuality of Aaron becoming CEO in an Asian family where he is the younger brother and always at odds with his older brother, was partly made possible by the family dynamic which started to work out following certain events that strengthened the bond between them. * Aaron shares his vision for the company: I want to see us in every single home in Canada. * Explaining that his dad wasn't overprotective but rather allowed them to make mistakes, and these mistakes helped them learn how to make fast and efficient decisions. * The question: What are you doing about it? * If you teach children what wealth means, it's rather thoughtful to leave wealth for them, but if not then it's just an expectation, and things could go wrong. * To Aaron's kids: Know the importance of Family because it is more important than even the business Episode Timeline: * [00:49] Meet today's guest "Aaron Chin". * [01:25] Where did the family business begin, and how do you become involved in this story? * [07:40] About Aaron's entry into the business: Was it always an expectation or some other circumstance? * [16:09] Describing the business today. * [19:55] How did the leadership transition come about? * [24:40] Being the younger brother in an Asian family, how did you arrive at the CEO role? * [27:15] What sort of investment process did you go through, and how did you formalize the business? * [33:33] Would you say the company culture remains unchanged or has it morphed as a result of the impact of Private Equity coming in? * [37:45] Aaron shares major lessons learned by trying things and making mistakes at the beginning * [38:50] Is there a multi-generational plan to continue the legacy that your father started? * [41:03] How do you feel about children inheriting wealth? * [42:39] Aaron's letter to his kids. For more episodes go to BusinessOfFamily.net (https://www.businessoffamily.net/) Sign up for The Business of Family Newsletter (https://www.businessoffamily.net/newsletter) Follow Mike on Twitter @MikeBoyd (https://twitter.com/MikeBoyd) If you feel it's appropriate, I'd so appreciate you taking 30 seconds to Leave a Review on iTunes (http://getpodcast.reviews/id/1525326745), I receive a notification of each review. Thank you! Special Guest: Aaron Chin. multi-generational wealth, family office, dynasty, legacy, succession, stewardship, next generation, business, family wealth, investing, FO, global citizen, nomad, taxation, wealth, portfolio manager, trader, real estate investor, multi-family, multifamily office, investor, inheritance, heirs, Aaron Chin is a second-generation business leader and CEO of Organika, a family-led Canadian company dedicated to providing innovative, premium health products to help inspire people to live healthier lives.

Growing up in the business motivated Aaron to build on what his father started 30 years ago. Since assuming leadership of Organika, in partnership with his brother Jordan, they have increased business seven-fold and have grown the company into an award-winning, globally recognized brand, focusing on innovation and a vibrant company culture.

Standout Quotes:

  • "You start with the mission of the company and that'll help drive your decisions after". - [Aaron]
  • "If you can tweak one little thing in your process that could save you 30minutes...do it". - [Aaron]
  • "You are going to determine yourself, how well you do". - [Aaron]
  • "I really do believe there's nothing like good old hard work". - [Aaron]
  • "My relationship with my brother is bigger than the business... I think I can pass that down to my kids" - [Aaron]

Key Takeaways:

  • Aaron's dad had the dream when he moved from Malaysia to Canada to give his kids a chance to get ice cream whenever they wanted.
  • Following the treatment of his kidney stones using natural products, he started the business with a vision to make healthcare accessible for all.
  • Despite the rejection, his father persistently put himself and his products out there, till the business took off.
  • Aaron shares he always had an interest in the family business although his father never tried to impose any expectations to join.
  • Aaron narrates a simple experience where he noticed the boss employed by his father to manage the business got to the office one morning, and deleted all his office voicemails without listening to any one, inciting Aaron's suspicion of the poor management inherent in the business.
  • Realizing the diet differences between the newer and older generation, the company pivoted from mostly vitamin pills to be more involved in superfoods, powders, drink mixes.
  • The surprising eventuality of Aaron becoming CEO in an Asian family where he is the younger brother and always at odds with his older brother, was partly made possible by the family dynamic which started to work out following certain events that strengthened the bond between them.
  • Aaron shares his vision for the company: I want to see us in every single home in Canada.
  • Explaining that his dad wasn't overprotective but rather allowed them to make mistakes, and these mistakes helped them learn how to make fast and efficient decisions.
  • The question: What are you doing about it?
  • If you teach children what wealth means, it's rather thoughtful to leave wealth for them, but if not then it's just an expectation, and things could go wrong.
  • To Aaron's kids: Know the importance of Family because it is more important than even the business

Episode Timeline:

  • [00:49] Meet today's guest "Aaron Chin".
  • [01:25] Where did the family business begin, and how do you become involved in this story?
  • [07:40] About Aaron's entry into the business: Was it always an expectation or some other circumstance?
  • [16:09] Describing the business today.
  • [19:55] How did the leadership transition come about?
  • [24:40] Being the younger brother in an Asian family, how did you arrive at the CEO role?
  • [27:15] What sort of investment process did you go through, and how did you formalize the business?
  • [33:33] Would you say the company culture remains unchanged or has it morphed as a result of the impact of Private Equity coming in?
  • [37:45] Aaron shares major lessons learned by trying things and making mistakes at the beginning
  • [38:50] Is there a multi-generational plan to continue the legacy that your father started?
  • [41:03] How do you feel about children inheriting wealth?
  • [42:39] Aaron's letter to his kids.

For more episodes go to
BusinessOfFamily.net

Sign up for The Business of Family Newsletter

Follow Mike on Twitter @MikeBoyd

If you feel it's appropriate, I'd so appreciate you taking 30 seconds to Leave a Review on iTunes, I receive a notification of each review. Thank you!

Special Guest: Aaron Chin.

Sponsored By:

Links:

  • Organika — Aaron Chin is a second-generation business leader and CEO of Organika which is a family-led Canadian company dedicated to providing innovative, premium health products to help inspire people to live healthier lives.
  • Aaron Chin (@organikaaron) Instagram
]]> Aaron Chin is a second-generation business leader and CEO of Organika, a family-led Canadian company dedicated to providing innovative, premium health products to help inspire people to live healthier lives.

Growing up in the business motivated Aaron to build on what his father started 30 years ago. Since assuming leadership of Organika, in partnership with his brother Jordan, they have increased business seven-fold and have grown the company into an award-winning, globally recognized brand, focusing on innovation and a vibrant company culture.

Standout Quotes:

  • "You start with the mission of the company and that'll help drive your decisions after". - [Aaron]
  • "If you can tweak one little thing in your process that could save you 30minutes...do it". - [Aaron]
  • "You are going to determine yourself, how well you do". - [Aaron]
  • "I really do believe there's nothing like good old hard work". - [Aaron]
  • "My relationship with my brother is bigger than the business... I think I can pass that down to my kids" - [Aaron]

Key Takeaways:

  • Aaron's dad had the dream when he moved from Malaysia to Canada to give his kids a chance to get ice cream whenever they wanted.
  • Following the treatment of his kidney stones using natural products, he started the business with a vision to make healthcare accessible for all.
  • Despite the rejection, his father persistently put himself and his products out there, till the business took off.
  • Aaron shares he always had an interest in the family business although his father never tried to impose any expectations to join.
  • Aaron narrates a simple experience where he noticed the boss employed by his father to manage the business got to the office one morning, and deleted all his office voicemails without listening to any one, inciting Aaron's suspicion of the poor management inherent in the business.
  • Realizing the diet differences between the newer and older generation, the company pivoted from mostly vitamin pills to be more involved in superfoods, powders, drink mixes.
  • The surprising eventuality of Aaron becoming CEO in an Asian family where he is the younger brother and always at odds with his older brother, was partly made possible by the family dynamic which started to work out following certain events that strengthened the bond between them.
  • Aaron shares his vision for the company: I want to see us in every single home in Canada.
  • Explaining that his dad wasn't overprotective but rather allowed them to make mistakes, and these mistakes helped them learn how to make fast and efficient decisions.
  • The question: What are you doing about it?
  • If you teach children what wealth means, it's rather thoughtful to leave wealth for them, but if not then it's just an expectation, and things could go wrong.
  • To Aaron's kids: Know the importance of Family because it is more important than even the business

Episode Timeline:

  • [00:49] Meet today's guest "Aaron Chin".
  • [01:25] Where did the family business begin, and how do you become involved in this story?
  • [07:40] About Aaron's entry into the business: Was it always an expectation or some other circumstance?
  • [16:09] Describing the business today.
  • [19:55] How did the leadership transition come about?
  • [24:40] Being the younger brother in an Asian family, how did you arrive at the CEO role?
  • [27:15] What sort of investment process did you go through, and how did you formalize the business?
  • [33:33] Would you say the company culture remains unchanged or has it morphed as a result of the impact of Private Equity coming in?
  • [37:45] Aaron shares major lessons learned by trying things and making mistakes at the beginning
  • [38:50] Is there a multi-generational plan to continue the legacy that your father started?
  • [41:03] How do you feel about children inheriting wealth?
  • [42:39] Aaron's letter to his kids.

For more episodes go to
BusinessOfFamily.net

Sign up for The Business of Family Newsletter

Follow Mike on Twitter @MikeBoyd

If you feel it's appropriate, I'd so appreciate you taking 30 seconds to Leave a Review on iTunes, I receive a notification of each review. Thank you!

Special Guest: Aaron Chin.

Sponsored By:

Links:

  • Organika — Aaron Chin is a second-generation business leader and CEO of Organika which is a family-led Canadian company dedicated to providing innovative, premium health products to help inspire people to live healthier lives.
  • Aaron Chin (@organikaaron) Instagram
]]> Ginny Gilder - Olympic Medalist, G2 Family Office Founder, Social Entrepreneur & Owner of a WNBA Team [The Business of Family] http://www.businessoffamily.net/ginny-gilder 9cdf81e7-888e-46ed-ab11-023e268b2e5d Mon, 25 Jan 2021 19:00:00 +1000 Mike Boyd full 1 Mike Boyd Ginny Gilder, is an American former competitive rower and Olympic silver medalist. An investor, Gilder is a co-owner of the Seattle Storm, a professional women's basketball team in the WNBA 1:02:32 yes Ginny Gilder, is an American former competitive rower and Olympic silver medalist. As a second generation entrepreneur, Ginny’s day job is running her family investment office, Gilder Office for Growth (https://www.dnb.com/business-directory/company-profiles.gilder_office_for_growth_llc.4176414f8c2ae4c4c2087905c09d68ec.html) but her heart leads her to focus on expanding access to opportunity in the realms of sports and education, especially for youth. A serial social enterprise entrepreneur, co-owner of the WNBA Seattle Storm (https://storm.wnba.com/?fbclid=IwAR1gFRFx1PXVM8mCsAvlzm3FNg0lKHazqlDwd8dVW8W8cOCmYDfrNQ4vPSU), and a writer, Ginny continues to look for ways to expand the footprint of women's professional sports in the U.S. Standout Quotes: * "The way that people really become good at something and grow wealth is by concentration" - [Ginny] * "There are gifts hidden in tough times" - [Ginny] * "You should keep doing something only as long as you're learning and growing" - [Ginny] * "For any family that's lucky enough to have financial wealth you've got to think about whether you are going to insist that people get along, and at what price" - [Ginny] * "The biggest thing that's probably shifted is recognizing what we really want, which is adult relationships with our adult children" - [Ginny] * "If you want to see change in the world, well, you've got to invest, cos nothing's going to happen if you're not going to invest" - [Ginny] * "What's really most important to most people is Human Connection... and if you really want to be connected, you've got to deal with the stuff that's the toughest" - [Ginny] Key Takeaways: * After making many mistakes starting a nonprofit, Ginny set up a business that helps start-up nonprofits avoid similar mistakes and achieve their goals. * Early in her career, she had goals that were not related to working in the family business. * Having a financial cushion had benefits, like the freedom to work without being tied to a focus on amassing wealth, although it came with less attention from their father. * When the time came for a transition of the family business, she knew she had to step up to the responsibility placed on her despite her lack of knowledge or passion in the family business. * There has to be a lot of very direct conversations if you want to be in business with your siblings. * Ginny clearly explains that she has no passion for the investment business, but got involved, for the love of family, the financial security, and the business relationships that come with it. * Having an investment office rather than a family office with bells and whistles was geared at equipping her kids to be independent, self-sufficient, and capable human beings. * Honesty has been hugely instrumental in navigating the family dynamics in Ginny's family, she also had to understand the importance of having adult relationships with her adult children. * When things go wrong, that's when you have to figure it out and it's also when you find out the relationships that are solid. * The importance of dealing with difficult family relationships: it's so easy when life is good to think everything is fine but as soon as life gets hard if you haven't dealt with challenges and learned how to disagree and resolve differences, you're not going to make it through the hardest parts of life. Episode Timeline: * [00:49] Meet Ginny Gilder; sharing her personal and professional background. * [01:34] Her family history and the origin of the family business * [08:20] How Ginny got into the investment business. * [22:50] What was your father's position when you started your nonprofit organization? * [29:00] Ginny describes how the family dynamics affected the transition of the business to her generation. * [30:42] What would you say that you've learned from the separation of roles between family and business? * [33:22] What is the family business structure going forward? * [40:05] How do you differentiate your investment office from a family office? * [41:20] About Gilder Office for Growth * [48:56] How do you navigate through your family dynamics in the world of wealth? * [53:15] Tell us about what you're most passionate about in terms of one of the businesses that you own today. * [01:00:40] Ginny's letter to her kids *For more episodes go to * BusinessOfFamily.net (https://www.businessoffamily.net/) Sign up for The Business of Family Newsletter at https://www.businessoffamily.net/newsletter (https://www.businessoffamily.net/newsletter) Follow Mike on Twitter @MikeBoyd (https://twitter.com/MikeBoyd) If you feel it's appropriate, I'd so appreciate you taking 30 seconds to Leave a Review on iTunes (http://getpodcast.reviews/id/1525326745), I receive a notification of each review. Thank you! Special Guest: Ginny Gilder. multi-generational wealth, family office, dynasty, legacy, succession, stewardship, next generation, business, family wealth, investing, FO, global citizen, nomad, taxation, wealth, portfolio manager, trader, real estate investor, multi-family, multifamily office, investor, inheritance, heirs, Ginny Gilder, is an American former competitive rower and Olympic silver medalist. As a second generation entrepreneur, Ginny’s day job is running her family investment office, Gilder Office for Growth but her heart leads her to focus on expanding access to opportunity in the realms of sports and education, especially for youth.

A serial social enterprise entrepreneur, co-owner of the WNBA Seattle Storm, and a writer, Ginny continues to look for ways to expand the footprint of women's professional sports in the U.S.

Standout Quotes:

  • "The way that people really become good at something and grow wealth is by concentration" - [Ginny]
  • "There are gifts hidden in tough times" - [Ginny]
  • "You should keep doing something only as long as you're learning and growing" - [Ginny]
  • "For any family that's lucky enough to have financial wealth you've got to think about whether you are going to insist that people get along, and at what price" - [Ginny]
  • "The biggest thing that's probably shifted is recognizing what we really want, which is adult relationships with our adult children" - [Ginny]
  • "If you want to see change in the world, well, you've got to invest, cos nothing's going to happen if you're not going to invest" - [Ginny]
  • "What's really most important to most people is Human Connection... and if you really want to be connected, you've got to deal with the stuff that's the toughest" - [Ginny]

Key Takeaways:

  • After making many mistakes starting a nonprofit, Ginny set up a business that helps start-up nonprofits avoid similar mistakes and achieve their goals.
  • Early in her career, she had goals that were not related to working in the family business.
  • Having a financial cushion had benefits, like the freedom to work without being tied to a focus on amassing wealth, although it came with less attention from their father.
  • When the time came for a transition of the family business, she knew she had to step up to the responsibility placed on her despite her lack of knowledge or passion in the family business.
  • There has to be a lot of very direct conversations if you want to be in business with your siblings.
  • Ginny clearly explains that she has no passion for the investment business, but got involved, for the love of family, the financial security, and the business relationships that come with it.
  • Having an investment office rather than a family office with bells and whistles was geared at equipping her kids to be independent, self-sufficient, and capable human beings.
  • Honesty has been hugely instrumental in navigating the family dynamics in Ginny's family, she also had to understand the importance of having adult relationships with her adult children.
  • When things go wrong, that's when you have to figure it out and it's also when you find out the relationships that are solid.
  • The importance of dealing with difficult family relationships: it's so easy when life is good to think everything is fine but as soon as life gets hard if you haven't dealt with challenges and learned how to disagree and resolve differences, you're not going to make it through the hardest parts of life.

Episode Timeline:

  • [00:49] Meet Ginny Gilder; sharing her personal and professional background.
  • [01:34] Her family history and the origin of the family business
  • [08:20] How Ginny got into the investment business.
  • [22:50] What was your father's position when you started your nonprofit organization?
  • [29:00] Ginny describes how the family dynamics affected the transition of the business to her generation.
  • [30:42] What would you say that you've learned from the separation of roles between family and business?
  • [33:22] What is the family business structure going forward?
  • [40:05] How do you differentiate your investment office from a family office?
  • [41:20] About Gilder Office for Growth
  • [48:56] How do you navigate through your family dynamics in the world of wealth?
  • [53:15] Tell us about what you're most passionate about in terms of one of the businesses that you own today.
  • [01:00:40] Ginny's letter to her kids

*For more episodes go to *
BusinessOfFamily.net

Sign up for The Business of Family Newsletter at https://www.businessoffamily.net/newsletter

Follow Mike on Twitter @MikeBoyd

If you feel it's appropriate, I'd so appreciate you taking 30 seconds to Leave a Review on iTunes, I receive a notification of each review. Thank you!

Special Guest: Ginny Gilder.

Sponsored By:

Links:

]]> Ginny Gilder, is an American former competitive rower and Olympic silver medalist. As a second generation entrepreneur, Ginny’s day job is running her family investment office, Gilder Office for Growth but her heart leads her to focus on expanding access to opportunity in the realms of sports and education, especially for youth.

A serial social enterprise entrepreneur, co-owner of the WNBA Seattle Storm, and a writer, Ginny continues to look for ways to expand the footprint of women's professional sports in the U.S.

Standout Quotes:

  • "The way that people really become good at something and grow wealth is by concentration" - [Ginny]
  • "There are gifts hidden in tough times" - [Ginny]
  • "You should keep doing something only as long as you're learning and growing" - [Ginny]
  • "For any family that's lucky enough to have financial wealth you've got to think about whether you are going to insist that people get along, and at what price" - [Ginny]
  • "The biggest thing that's probably shifted is recognizing what we really want, which is adult relationships with our adult children" - [Ginny]
  • "If you want to see change in the world, well, you've got to invest, cos nothing's going to happen if you're not going to invest" - [Ginny]
  • "What's really most important to most people is Human Connection... and if you really want to be connected, you've got to deal with the stuff that's the toughest" - [Ginny]

Key Takeaways:

  • After making many mistakes starting a nonprofit, Ginny set up a business that helps start-up nonprofits avoid similar mistakes and achieve their goals.
  • Early in her career, she had goals that were not related to working in the family business.
  • Having a financial cushion had benefits, like the freedom to work without being tied to a focus on amassing wealth, although it came with less attention from their father.
  • When the time came for a transition of the family business, she knew she had to step up to the responsibility placed on her despite her lack of knowledge or passion in the family business.
  • There has to be a lot of very direct conversations if you want to be in business with your siblings.
  • Ginny clearly explains that she has no passion for the investment business, but got involved, for the love of family, the financial security, and the business relationships that come with it.
  • Having an investment office rather than a family office with bells and whistles was geared at equipping her kids to be independent, self-sufficient, and capable human beings.
  • Honesty has been hugely instrumental in navigating the family dynamics in Ginny's family, she also had to understand the importance of having adult relationships with her adult children.
  • When things go wrong, that's when you have to figure it out and it's also when you find out the relationships that are solid.
  • The importance of dealing with difficult family relationships: it's so easy when life is good to think everything is fine but as soon as life gets hard if you haven't dealt with challenges and learned how to disagree and resolve differences, you're not going to make it through the hardest parts of life.

Episode Timeline:

  • [00:49] Meet Ginny Gilder; sharing her personal and professional background.
  • [01:34] Her family history and the origin of the family business
  • [08:20] How Ginny got into the investment business.
  • [22:50] What was your father's position when you started your nonprofit organization?
  • [29:00] Ginny describes how the family dynamics affected the transition of the business to her generation.
  • [30:42] What would you say that you've learned from the separation of roles between family and business?
  • [33:22] What is the family business structure going forward?
  • [40:05] How do you differentiate your investment office from a family office?
  • [41:20] About Gilder Office for Growth
  • [48:56] How do you navigate through your family dynamics in the world of wealth?
  • [53:15] Tell us about what you're most passionate about in terms of one of the businesses that you own today.
  • [01:00:40] Ginny's letter to her kids

*For more episodes go to *
BusinessOfFamily.net

Sign up for The Business of Family Newsletter at https://www.businessoffamily.net/newsletter

Follow Mike on Twitter @MikeBoyd

If you feel it's appropriate, I'd so appreciate you taking 30 seconds to Leave a Review on iTunes, I receive a notification of each review. Thank you!

Special Guest: Ginny Gilder.

Sponsored By:

Links:

]]> Dato’ Loy Teik Ngan - From Billionaire's Son to Losing it All and Starting Over [The Business of Family] http://www.businessoffamily.net/dato-loy-teik-ngan 6d1bcdb5-aba3-4260-8a97-374c101dac0b Mon, 23 Nov 2020 19:00:00 +1000 Mike Boyd full 1 Mike Boyd Dato’ Loy Teik Ngan is the eldest son of a well-known entrepreneur who built one of the largest business conglomerates in Malaysia, Teik Ngan took over the rein of his family company upon his father’s demise. Within a year, the sprawling business empire that took 35 years to build, collapsed under the weight of huge debts amidst the 1998 Asian financial crisis. 46:16 no Dato’ Loy Teik Ngan, the eldest son of a well-known entrepreneur who built one of the largest business conglomerates in Malaysia, Teik Ngan took over the rein of his family company upon his father’s demise. Within a year, the sprawling business empire that took 35 years to build, collapsed under the weight of huge debts amidst the 1998 Asian financial crisis. 14 years passed before all personal liabilities of his family from the days of the financial crisis were eventually settled. In the process, he built a new family business, in education. The Taylor’s Education Group (https://www.taylors.edu.my/index.html) is today the largest private education group in Malaysia. Focused on premium education, Taylor’s K-12 schools & higher education institutions are widely recognised as the top education institutions in their respective categories. Taylor’s institutions operate in Malaysia, Singapore & Vietnam. The struggles during the tough financial period of his life shaped Teik Ngan’s stewardship views for family business. Appreciating unity, his family has introduced concepts and activities that promote collaborative conversations & strengthen relationships. He is dedicated to the development & transition of his family’s next generation of 13. Teik Ngan’s family are active members of the Family Business Network Asia (https://fbnasia.org/en/loy-teik-ngan/) & he is the current President of the Board. Standout Quotes: * "We had to learn how to live together; we had to form a Living Together Committee" * "One thing that normally goes wrong when families end up in dispute is lack of proper communication" * "The family unit is important and sometimes we are subservient to the larger family" * "We try to always emphasize that the family comes before the business, the business allows us the blessing to be able to have the lifestyle that we have, but we have to work together as a family first" * "Do you want to be Rich or do you want to be King?" * "I would encourage my kids to understand the context in why they do what they do... What is it all for? Wealth is fleeting; wealth is something that we cannot take with us when we die" Key Takeaways: * Dato’ informed the bank he was indebted to, that they could either push him into bankruptcy or loan him more money to rebuild and pay back the company debts. * A living together committee had to be formed to help the large family live in one compound. * Knowing that lack of communication was a common cause of family disputes prompted the introduction of Forums to build positive communication. * Dato’ shares that the most important thing that has been done as leader of the family business in recent times is Annual Vacations. * The difference between "Family Business" and "Business family" is that in 'Family Business', the family comes before the business. * Guided by the shared family values, one of which is "Achievement and Learning", Dato’ explains how the next generation is encouraged to follow their passion even when it may be outside the family business. * The concept of a "Personal Portfolio" in creating an education plan for the family * The difference between being rich and being a king is that a king has ultimate authority, loyal subjects and lots he has to look after but being rich is just going for performance, the best point is somewhere between both * Dato’ explains the concept of the "Deathwalk", an exercise involving walking into our death, looking back at our current age, and giving ourselves the advice we would. Episode Timeline: * [00:49] Introducing Dato’ Loy and 'The Taylor's Education group' * [01:59] Dato’ narrates the events surrounding his transition into his father's company, which was is debt before the overwhelming challenges brought about by the Asian financial crisis * [07:02] Dato’ admits he was ill-prepared for the scale of complexity involved in the business, worsened by the lack of adequate resources to surmount the crisis at the time. * [08:43] From a collapsed family business to a thriving one * [13:45] Dato’ describes in detail the current size and scale of the family business * [14:50] How did these experiences shape your views towards stewardship of the family business? * [20:50] The living together committee * [23:28] Dato’ explains the different strategies employed to keep the family harmony * [29:25] Differentiating between "Family Business" and "Business family" * [33:35] Are you actively planning and anticipating succession with the next generation? * [35:16] The concept of a "Personal Portfolio" in creating an education plan for the family * [40:53] In the last 5 years, what new belief, behavior, or habit has most improved your family business? * [43:26] Dato's letter to his kids: 'the Deathwalk' *For more episodes go to * BusinessOfFamily.net (https://www.businessoffamily.net/) Sign up for The Business of Family Newsletter at https://www.businessoffamily.net/newsletter (https://www.businessoffamily.net/newsletter) Follow Mike on Twitter @MikeBoyd (https://twitter.com/MikeBoyd) If you feel it's appropriate, I'd so appreciate you taking 30 seconds to Leave a Review on iTunes (http://getpodcast.reviews/id/1525326745), I receive a notification of each review. Thank you! Special Guest: Dato’ Loy Teik Ngan. multi-generational wealth, family office, dynasty, legacy, succession, stewardship, next generation, business, family wealth, investing, FO, global citizen, nomad, taxation, wealth, portfolio manager, trader, real estate investor, multi-family, multifamily office, investor, inheritance, heirs, Dato’ Loy Teik Ngan, the eldest son of a well-known entrepreneur who built one of the largest business conglomerates in Malaysia, Teik Ngan took over the rein of his family company upon his father’s demise. Within a year, the sprawling business empire that took 35 years to build, collapsed under the weight of huge debts amidst the 1998 Asian financial crisis.

14 years passed before all personal liabilities of his family from the days of the financial crisis were eventually settled. In the process, he built a new family business, in education. The Taylor’s Education Group is today the largest private education group in Malaysia. Focused on premium education, Taylor’s K-12 schools & higher education institutions are widely recognised as the top education institutions in their respective categories. Taylor’s institutions operate in Malaysia, Singapore & Vietnam.

The struggles during the tough financial period of his life shaped Teik Ngan’s stewardship views for family business. Appreciating unity, his family has introduced concepts and activities that promote collaborative conversations & strengthen relationships. He is dedicated to the development & transition of his family’s next generation of 13.

Teik Ngan’s family are active members of the Family Business Network Asia & he is the current President of the Board.

Standout Quotes:

  • "We had to learn how to live together; we had to form a Living Together Committee"
  • "One thing that normally goes wrong when families end up in dispute is lack of proper communication"
  • "The family unit is important and sometimes we are subservient to the larger family"
  • "We try to always emphasize that the family comes before the business, the business allows us the blessing to be able to have the lifestyle that we have, but we have to work together as a family first"
  • "Do you want to be Rich or do you want to be King?"
  • "I would encourage my kids to understand the context in why they do what they do... What is it all for? Wealth is fleeting; wealth is something that we cannot take with us when we die"

Key Takeaways:

  • Dato’ informed the bank he was indebted to, that they could either push him into bankruptcy or loan him more money to rebuild and pay back the company debts.
  • A living together committee had to be formed to help the large family live in one compound.
  • Knowing that lack of communication was a common cause of family disputes prompted the introduction of Forums to build positive communication.
  • Dato’ shares that the most important thing that has been done as leader of the family business in recent times is Annual Vacations.
  • The difference between "Family Business" and "Business family" is that in 'Family Business', the family comes before the business.
  • Guided by the shared family values, one of which is "Achievement and Learning", Dato’ explains how the next generation is encouraged to follow their passion even when it may be outside the family business.
  • The concept of a "Personal Portfolio" in creating an education plan for the family
  • The difference between being rich and being a king is that a king has ultimate authority, loyal subjects and lots he has to look after but being rich is just going for performance, the best point is somewhere between both
  • Dato’ explains the concept of the "Deathwalk", an exercise involving walking into our death, looking back at our current age, and giving ourselves the advice we would.

Episode Timeline:

  • [00:49] Introducing Dato’ Loy and 'The Taylor's Education group'
  • [01:59] Dato’ narrates the events surrounding his transition into his father's company, which was is debt before the overwhelming challenges brought about by the Asian financial crisis
  • [07:02] Dato’ admits he was ill-prepared for the scale of complexity involved in the business, worsened by the lack of adequate resources to surmount the crisis at the time.
  • [08:43] From a collapsed family business to a thriving one
  • [13:45] Dato’ describes in detail the current size and scale of the family business
  • [14:50] How did these experiences shape your views towards stewardship of the family business?
  • [20:50] The living together committee
  • [23:28] Dato’ explains the different strategies employed to keep the family harmony
  • [29:25] Differentiating between "Family Business" and "Business family"
  • [33:35] Are you actively planning and anticipating succession with the next generation?
  • [35:16] The concept of a "Personal Portfolio" in creating an education plan for the family
  • [40:53] In the last 5 years, what new belief, behavior, or habit has most improved your family business?
  • [43:26] Dato's letter to his kids: 'the Deathwalk'

*For more episodes go to *
BusinessOfFamily.net

Sign up for The Business of Family Newsletter at https://www.businessoffamily.net/newsletter

Follow Mike on Twitter @MikeBoyd

If you feel it's appropriate, I'd so appreciate you taking 30 seconds to Leave a Review on iTunes, I receive a notification of each review. Thank you!

Special Guest: Dato’ Loy Teik Ngan.

Sponsored By:

Links:

]]> Dato’ Loy Teik Ngan, the eldest son of a well-known entrepreneur who built one of the largest business conglomerates in Malaysia, Teik Ngan took over the rein of his family company upon his father’s demise. Within a year, the sprawling business empire that took 35 years to build, collapsed under the weight of huge debts amidst the 1998 Asian financial crisis.

14 years passed before all personal liabilities of his family from the days of the financial crisis were eventually settled. In the process, he built a new family business, in education. The Taylor’s Education Group is today the largest private education group in Malaysia. Focused on premium education, Taylor’s K-12 schools & higher education institutions are widely recognised as the top education institutions in their respective categories. Taylor’s institutions operate in Malaysia, Singapore & Vietnam.

The struggles during the tough financial period of his life shaped Teik Ngan’s stewardship views for family business. Appreciating unity, his family has introduced concepts and activities that promote collaborative conversations & strengthen relationships. He is dedicated to the development & transition of his family’s next generation of 13.

Teik Ngan’s family are active members of the Family Business Network Asia & he is the current President of the Board.

Standout Quotes:

  • "We had to learn how to live together; we had to form a Living Together Committee"
  • "One thing that normally goes wrong when families end up in dispute is lack of proper communication"
  • "The family unit is important and sometimes we are subservient to the larger family"
  • "We try to always emphasize that the family comes before the business, the business allows us the blessing to be able to have the lifestyle that we have, but we have to work together as a family first"
  • "Do you want to be Rich or do you want to be King?"
  • "I would encourage my kids to understand the context in why they do what they do... What is it all for? Wealth is fleeting; wealth is something that we cannot take with us when we die"

Key Takeaways:

  • Dato’ informed the bank he was indebted to, that they could either push him into bankruptcy or loan him more money to rebuild and pay back the company debts.
  • A living together committee had to be formed to help the large family live in one compound.
  • Knowing that lack of communication was a common cause of family disputes prompted the introduction of Forums to build positive communication.
  • Dato’ shares that the most important thing that has been done as leader of the family business in recent times is Annual Vacations.
  • The difference between "Family Business" and "Business family" is that in 'Family Business', the family comes before the business.
  • Guided by the shared family values, one of which is "Achievement and Learning", Dato’ explains how the next generation is encouraged to follow their passion even when it may be outside the family business.
  • The concept of a "Personal Portfolio" in creating an education plan for the family
  • The difference between being rich and being a king is that a king has ultimate authority, loyal subjects and lots he has to look after but being rich is just going for performance, the best point is somewhere between both
  • Dato’ explains the concept of the "Deathwalk", an exercise involving walking into our death, looking back at our current age, and giving ourselves the advice we would.

Episode Timeline:

  • [00:49] Introducing Dato’ Loy and 'The Taylor's Education group'
  • [01:59] Dato’ narrates the events surrounding his transition into his father's company, which was is debt before the overwhelming challenges brought about by the Asian financial crisis
  • [07:02] Dato’ admits he was ill-prepared for the scale of complexity involved in the business, worsened by the lack of adequate resources to surmount the crisis at the time.
  • [08:43] From a collapsed family business to a thriving one
  • [13:45] Dato’ describes in detail the current size and scale of the family business
  • [14:50] How did these experiences shape your views towards stewardship of the family business?
  • [20:50] The living together committee
  • [23:28] Dato’ explains the different strategies employed to keep the family harmony
  • [29:25] Differentiating between "Family Business" and "Business family"
  • [33:35] Are you actively planning and anticipating succession with the next generation?
  • [35:16] The concept of a "Personal Portfolio" in creating an education plan for the family
  • [40:53] In the last 5 years, what new belief, behavior, or habit has most improved your family business?
  • [43:26] Dato's letter to his kids: 'the Deathwalk'

*For more episodes go to *
BusinessOfFamily.net

Sign up for The Business of Family Newsletter at https://www.businessoffamily.net/newsletter

Follow Mike on Twitter @MikeBoyd

If you feel it's appropriate, I'd so appreciate you taking 30 seconds to Leave a Review on iTunes, I receive a notification of each review. Thank you!

Special Guest: Dato’ Loy Teik Ngan.

Sponsored By:

Links:

]]> Crystal Lam - Second Generation Vietnamese-American Business Woman [The Business of Family] http://www.businessoffamily.net/crystal-lam 7bb214bf-2e59-4979-8cb0-c38191757c19 Mon, 02 Nov 2020 19:00:00 +1000 Mike Boyd full 1 Mike Boyd Crystal Lam is the Managing Director and second generation to manage Vinawood Ltd. With 10 years of operations experience in Vietnam, Ms. Lam has lead the firm’s expansion into new markets, product categories and strategic ventures. 36:06 yes Crystal Lam is the Managing Director and second generation to manage Vinawood Ltd. (https://www.vinawood.com/), Vietnam’s largest wood component manufacturer specializing in customized window covering, millwork and architectural mouldings. With 10 years of operations experience in Vietnam, Crystal has lead the firm’s expansion into new markets, product categories and strategic ventures. Standout Quotes: * “My father raised me with the same belief systems; to be traditional in values but modern in action" - Crystal Lam * “It's not just experience or skill, it's really just the heart” - Crystal Lam * "I've always found it to be important to be happy with who you see in the mirror when you wake up every day" - Crystal Lam * "Know what you stand for" - Crystal Lam Key Takeaways: * A crisis or challenge can create the opportunity to show your heart and grit in your family business. * It's not just experience or skill, it's the heart, so wherever your heart is, you will be great and you want to find people whose hearts beat the way your heart beats. * You will make decisions your entire life but the way you come to these decisions is rooted in your belief system and your value system. * If you don't know what you stand for, you will continuously feel conflict which holds you back from being the best version of yourself. Episode Timeline: * [01:37] Crystal's journey in the family business started at a young age * [03:03] Balancing growing up in America (an individualist society) with the expectation of family in Asia (an honor or face-based society) * [04:57] Crystal describes 3 major obstacles she had to face, working in the family business, and how she overcame them. * [07:50] The impact of the pandemic on the family business in 2020. * [13:14] Addressing the challenge of forgetting more sensitive family topics while focusing on the business. * [19:00] Crystal describes the admirable qualities of her grandmother, narrating a key event that occurred while she was a journalist. * [21:11] A key failure experienced by Crystal that shaped her journey * [23:19] The future for Vinawood * [27:29] Implementing their Father-Daughter forum * [33:01] A letter from Crystal to her kids: "Know what you stand for" *For more episodes go to * BusinessOfFamily.net (https://www.businessoffamily.net/) Sign up for The Business of Family Newsletter at https://www.businessoffamily.net/newsletter (https://www.businessoffamily.net/newsletter) Follow Mike on Twitter @MikeBoyd (https://twitter.com/MikeBoyd) If you feel it's appropriate, I'd so appreciate you taking 30 seconds to Leave a Review on iTunes (http://getpodcast.reviews/id/1525326745), I receive a notification of each review. Thank you! Special Guest: Crystal Lam. multi-generational wealth, family office, dynasty, legacy, succession, stewardship, next generation, business, family wealth, investing, FO, global citizen, nomad, taxation, wealth, portfolio manager, trader, real estate investor, multi-family, multifamily office, investor, inheritance, heirs, Crystal Lam is the Managing Director and second generation to manage Vinawood Ltd., Vietnam’s largest wood component manufacturer specializing in customized window covering, millwork and architectural mouldings. With 10 years of operations experience in Vietnam, Crystal has lead the firm’s expansion into new markets, product categories and strategic ventures.

Standout Quotes:

  • “My father raised me with the same belief systems; to be traditional in values but modern in action" - Crystal Lam
  • “It's not just experience or skill, it's really just the heart” - Crystal Lam
  • "I've always found it to be important to be happy with who you see in the mirror when you wake up every day" - Crystal Lam
  • "Know what you stand for" - Crystal Lam

Key Takeaways:

  • A crisis or challenge can create the opportunity to show your heart and grit in your family business.
  • It's not just experience or skill, it's the heart, so wherever your heart is, you will be great and you want to find people whose hearts beat the way your heart beats.
  • You will make decisions your entire life but the way you come to these decisions is rooted in your belief system and your value system.
  • If you don't know what you stand for, you will continuously feel conflict which holds you back from being the best version of yourself.

Episode Timeline:

  • [01:37] Crystal's journey in the family business started at a young age
  • [03:03] Balancing growing up in America (an individualist society) with the expectation of family in Asia (an honor or face-based society)
  • [04:57] Crystal describes 3 major obstacles she had to face, working in the family business, and how she overcame them.
  • [07:50] The impact of the pandemic on the family business in 2020.
  • [13:14] Addressing the challenge of forgetting more sensitive family topics while focusing on the business.
  • [19:00] Crystal describes the admirable qualities of her grandmother, narrating a key event that occurred while she was a journalist.
  • [21:11] A key failure experienced by Crystal that shaped her journey
  • [23:19] The future for Vinawood
  • [27:29] Implementing their Father-Daughter forum
  • [33:01] A letter from Crystal to her kids: "Know what you stand for"

*For more episodes go to *
BusinessOfFamily.net

Sign up for The Business of Family Newsletter at https://www.businessoffamily.net/newsletter

Follow Mike on Twitter @MikeBoyd

If you feel it's appropriate, I'd so appreciate you taking 30 seconds to Leave a Review on iTunes, I receive a notification of each review. Thank you!

Special Guest: Crystal Lam.

Sponsored By:

Links:

  • VINAWOOD LTD. — VINAWOOD are dedicated to accentuating the splendor of nature’s finest element: Wood
]]> Crystal Lam is the Managing Director and second generation to manage Vinawood Ltd., Vietnam’s largest wood component manufacturer specializing in customized window covering, millwork and architectural mouldings. With 10 years of operations experience in Vietnam, Crystal has lead the firm’s expansion into new markets, product categories and strategic ventures.

Standout Quotes:

  • “My father raised me with the same belief systems; to be traditional in values but modern in action" - Crystal Lam
  • “It's not just experience or skill, it's really just the heart” - Crystal Lam
  • "I've always found it to be important to be happy with who you see in the mirror when you wake up every day" - Crystal Lam
  • "Know what you stand for" - Crystal Lam

Key Takeaways:

  • A crisis or challenge can create the opportunity to show your heart and grit in your family business.
  • It's not just experience or skill, it's the heart, so wherever your heart is, you will be great and you want to find people whose hearts beat the way your heart beats.
  • You will make decisions your entire life but the way you come to these decisions is rooted in your belief system and your value system.
  • If you don't know what you stand for, you will continuously feel conflict which holds you back from being the best version of yourself.

Episode Timeline:

  • [01:37] Crystal's journey in the family business started at a young age
  • [03:03] Balancing growing up in America (an individualist society) with the expectation of family in Asia (an honor or face-based society)
  • [04:57] Crystal describes 3 major obstacles she had to face, working in the family business, and how she overcame them.
  • [07:50] The impact of the pandemic on the family business in 2020.
  • [13:14] Addressing the challenge of forgetting more sensitive family topics while focusing on the business.
  • [19:00] Crystal describes the admirable qualities of her grandmother, narrating a key event that occurred while she was a journalist.
  • [21:11] A key failure experienced by Crystal that shaped her journey
  • [23:19] The future for Vinawood
  • [27:29] Implementing their Father-Daughter forum
  • [33:01] A letter from Crystal to her kids: "Know what you stand for"

*For more episodes go to *
BusinessOfFamily.net

Sign up for The Business of Family Newsletter at https://www.businessoffamily.net/newsletter

Follow Mike on Twitter @MikeBoyd

If you feel it's appropriate, I'd so appreciate you taking 30 seconds to Leave a Review on iTunes, I receive a notification of each review. Thank you!

Special Guest: Crystal Lam.

Sponsored By:

Links:

  • VINAWOOD LTD. — VINAWOOD are dedicated to accentuating the splendor of nature’s finest element: Wood
]]> Tiho Brkan – Global Deal Flow for Family Office Investors [The Business of Family] http://www.businessoffamily.net/tiho-brkan 5d158b55-fedb-4be2-8d57-6e8cd84d74de Mon, 10 Aug 2020 19:00:00 +1000 Mike Boyd full 1 Mike Boyd Tiho Brkan, is a successful trader, portfolio manager and investor. Tiho today runs a multifamily office, The Atlas Investor, on behalf of his family and other high net worth families and individuals. 1:05:14 no Our guest this week is Tiho Brkan (https://twitter.com/TihoBrkan), a successful trader, portfolio manager and investor, Tiho today runs the multifamily office, The Atlas Investor (https://theatlasinvestor.com/) on behalf of his family and other high net worth families and individuals. Tiho is known to visit up to 20 countries per year, all the while observing global economic trends, purchasing offshore real estate and executing investments on behalf of his clients. Standout Quotes: * “The margins in luxury real estate can be insanely profitable as long as you know what you’re doing and as long as you choose the right deal.” - Tiho Brkan [21:27] * “Asian millennials are now becoming the most important demographic for the whole global economy.” - Tiho Brkan [35:30] * “The beautiful thing about mezzanine debt is that it has equity-like returns and bond-like downside protection or margin of safety, and that’s why we like it. ”- Tiho Brkan [42:05] * “Focus on learning from the right source and really moving the needle on what’s important and what counts.” - Tiho Brkan [1:03:55] Key Takeaways: * How to master the blend between an entrepreneur and an investor * Learning world cultures through travel * The importance of diversifying your capital into alternative assets as a high net worth individual or family office * Understanding the global tax scene when investing across the world * Capital Stack and the difference between senior and mezzanine debt Episode Timeline: [1:35] Tiho shares his background both personally and professionally [4:05] He shares the reason why he travels and how it has changed the way he views the world [9:02] How Atlas Investor helps investors gain access to extremely attractive private deals plus using the mastermind model with their investors [13:50] He talks about his clientele and how COVID-19 has affected the investing world [16:18] The five strategies they use when investing in real estate across the globe [24:15] The experience of buying and selling luxury real estate [27:44] He explains how he handles tax when he lives and conducts business globally [35:12] The macro view, why the Asian millennial will play a big role in the future global economy [38:37] The advantages of real estate mezzanine debt investment and why real estate investors prefer it over senior debt [46:49] Tiho explains what they look for when investing in real estate developments [54:27] How mentors that included his father played a huge part in his success [1:00:33] He explains the involvement of his family in the business and the importance of learning from the right sources as a younger person For more episodes go to BusinessOfFamily.net (https://www.businessoffamily.net/) Sign up for The Business of Family Newsletter at newsletter.mikeboyd.com.au (http://newsletter.mikeboyd.com.au/) Follow Mike on Twitter @MikeBoyd (https://twitter.com/MikeBoyd) If you feel it's appropriate, I'd so appreciate you taking 30 seconds to Leave a Review on iTunes (http://getpodcast.reviews/id/1525326745), I receive a notification of each review. Thank you! Special Guest: Tiho Brkan. multi-generational wealth, family office, dynasty, legacy, succession, stewardship, next generation, business, family wealth, investing, FO, global citizen, nomad, taxation, wealth, portfolio manager, trader, real estate investor, multi-family, multifamily office, investor, inheritance, heirs, Our guest this week is Tiho Brkan, a successful trader, portfolio manager and investor, Tiho today runs the multifamily office, The Atlas Investor on behalf of his family and other high net worth families and individuals.

Tiho is known to visit up to 20 countries per year, all the while observing global economic trends, purchasing offshore real estate and executing investments on behalf of his clients.

Standout Quotes:

  • “The margins in luxury real estate can be insanely profitable as long as you know what you’re doing and as long as you choose the right deal.” - Tiho Brkan [21:27]
  • “Asian millennials are now becoming the most important demographic for the whole global economy.” - Tiho Brkan [35:30]
  • “The beautiful thing about mezzanine debt is that it has equity-like returns and bond-like downside protection or margin of safety, and that’s why we like it. ”- Tiho Brkan [42:05]
  • “Focus on learning from the right source and really moving the needle on what’s important and what counts.” - Tiho Brkan [1:03:55]

Key Takeaways:

  • How to master the blend between an entrepreneur and an investor
  • Learning world cultures through travel
  • The importance of diversifying your capital into alternative assets as a high net worth individual or family office
  • Understanding the global tax scene when investing across the world
  • Capital Stack and the difference between senior and mezzanine debt

Episode Timeline:
[1:35] Tiho shares his background both personally and professionally
[4:05] He shares the reason why he travels and how it has changed the way he views the world
[9:02] How Atlas Investor helps investors gain access to extremely attractive private deals plus using the mastermind model with their investors
[13:50] He talks about his clientele and how COVID-19 has affected the investing world
[16:18] The five strategies they use when investing in real estate across the globe
[24:15] The experience of buying and selling luxury real estate
[27:44] He explains how he handles tax when he lives and conducts business globally
[35:12] The macro view, why the Asian millennial will play a big role in the future global economy
[38:37] The advantages of real estate mezzanine debt investment and why real estate investors prefer it over senior debt
[46:49] Tiho explains what they look for when investing in real estate developments
[54:27] How mentors that included his father played a huge part in his success
[1:00:33] He explains the involvement of his family in the business and the importance of learning from the right sources as a younger person

For more episodes go to BusinessOfFamily.net

Sign up for The Business of Family Newsletter at newsletter.mikeboyd.com.au

Follow Mike on Twitter @MikeBoyd

If you feel it's appropriate, I'd so appreciate you taking 30 seconds to Leave a Review on iTunes, I receive a notification of each review. Thank you!

Special Guest: Tiho Brkan.

Sponsored By:

Links:

]]> Our guest this week is Tiho Brkan, a successful trader, portfolio manager and investor, Tiho today runs the multifamily office, The Atlas Investor on behalf of his family and other high net worth families and individuals.

Tiho is known to visit up to 20 countries per year, all the while observing global economic trends, purchasing offshore real estate and executing investments on behalf of his clients.

Standout Quotes:

  • “The margins in luxury real estate can be insanely profitable as long as you know what you’re doing and as long as you choose the right deal.” - Tiho Brkan [21:27]
  • “Asian millennials are now becoming the most important demographic for the whole global economy.” - Tiho Brkan [35:30]
  • “The beautiful thing about mezzanine debt is that it has equity-like returns and bond-like downside protection or margin of safety, and that’s why we like it. ”- Tiho Brkan [42:05]
  • “Focus on learning from the right source and really moving the needle on what’s important and what counts.” - Tiho Brkan [1:03:55]

Key Takeaways:

  • How to master the blend between an entrepreneur and an investor
  • Learning world cultures through travel
  • The importance of diversifying your capital into alternative assets as a high net worth individual or family office
  • Understanding the global tax scene when investing across the world
  • Capital Stack and the difference between senior and mezzanine debt

Episode Timeline:
[1:35] Tiho shares his background both personally and professionally
[4:05] He shares the reason why he travels and how it has changed the way he views the world
[9:02] How Atlas Investor helps investors gain access to extremely attractive private deals plus using the mastermind model with their investors
[13:50] He talks about his clientele and how COVID-19 has affected the investing world
[16:18] The five strategies they use when investing in real estate across the globe
[24:15] The experience of buying and selling luxury real estate
[27:44] He explains how he handles tax when he lives and conducts business globally
[35:12] The macro view, why the Asian millennial will play a big role in the future global economy
[38:37] The advantages of real estate mezzanine debt investment and why real estate investors prefer it over senior debt
[46:49] Tiho explains what they look for when investing in real estate developments
[54:27] How mentors that included his father played a huge part in his success
[1:00:33] He explains the involvement of his family in the business and the importance of learning from the right sources as a younger person

For more episodes go to BusinessOfFamily.net

Sign up for The Business of Family Newsletter at newsletter.mikeboyd.com.au

Follow Mike on Twitter @MikeBoyd

If you feel it's appropriate, I'd so appreciate you taking 30 seconds to Leave a Review on iTunes, I receive a notification of each review. Thank you!

Special Guest: Tiho Brkan.

Sponsored By:

Links:

]]>