My service is based on four principles:
Equity: Long term solutions must be based on achieving suitable goals for all stakeholders. As a Rotarian, I have tried to live life by the Rotary Four Way Test: 1. Is it the truth?, 2. Is it fair to all concerned?, 3. Will it serve to build good will?, and 4. Will it be beneficial to all concerned? In family business, equity and fairness is the foundation for long-term, multi-generational, family ownership. That being said, equity and fairness does not mean equal. Contributors to success of the business must be rewarded.
Efficiency: Family business is hard enough without wasted time or money. Hence expenses such as income and estate taxes must be minimized. In the past I have been a key advisor to clients on tax planning ideas. However at this stage of my career, I have no intention of replacing existing, competent advisors, just adding some ideas to the team.
Experience: The number one question family business owners want answered is: "What do other family businesses do to become multi-generational?" While confidentiality of client identities and facts must be protected, advisors can learn from one client to the next. A consultant's value is built on the success of past clients.
Education: Many family business ownership problems are based on misunderstanding of alternatives and lack of communication. While a consultant must be a great listener, they must also be a great teacher. As a partner in an international CPA firm and now as a part-time professor of business law and entrepreneurism, I have developed teaching skills which have helped stakeholders see new paradigms to which they were blind because of lack of information or imagination.