Month: November 2021

Four Components of a Good Succession Plan

Though he was past traditional retirement age, he was living every businessperson’s dream. A healthy company. A strong management team. The freedom to come and go.  “Maybe it’s time,” he told me. “Time to pass on my business to my adult children—even though they’re not actually in the business. I’m thinking that if they’d just …

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On the Simple Act of Giving Thanks

Each Thanksgiving, I’m reminded of all the benefits that come from giving thanks.  In fact, Howard Hendricks used to recommend “Thanksgiving Therapy.” He suggested writing the phrase “I’m thankful for…” on a pad of paper, then listing all the specific reasons you’re grateful.  It’s a powerful exercise. Try it and you’ll discover—as I have—that Dr. …

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6 Essentials for a Life of Wealth

In my last column we looked at the difference between affluence and wealth.  My simple definition of affluence is “your income relative to everyone else’s.” If you make $36,000, you qualify as an average Joe – you’re right in the middle of the income numbers for the rest of the country.  However, someone making $36,000 …

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Who is Really Rich – the Affluent or the Wealthy?

“We’re gonna be rich!” Don bellowed as he beat his fist against the steering wheel. He drove a white Lincoln Continental with burgundy leather interior. It was longer than most living rooms and at that moment was lumbering down I-55 from St. Louis to Jackson, MS. The windows were down and his heart was full.  …

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