The article explores the critical role of time allocation when members of an affluent family do not need to actively pursue income. This is viewed through a matrix that maps time (active vs passive) against purpose (for-profit vs not-for-profit), which identifies four categories of energy family members can allocate across. This draws on the author’s lived experience and transition from employee to entrepreneur to advisor and family office principal.
It concludes by extending the map from individuals to family units, where the allocation of roles across the family can be spread so that individuals can contribute in a manner meaningful and relevant to their own skills and passion.
Interested in learning more? If you’d like to read the complete article, please reach out to me David Werdiger. I’m happy to share the full content with you!
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source https://davidwerdiger.com/family-governance/the-international-family-offices-journal-the-time-purpose-map-finding-balance-in-wealthy-families/
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David Werdiger, writer, speaker, adjunct professor, revolutionized cloud-based recurring billing as he migrated from his second-generation family business to C-level technology growth company roles. He is a frequent speaker at International Society of Private Wealth Network events, presents case studies at private HNWI events, and public national conferences. Werdiger is a #1 International Best-Selling author of the book ‘Transition; How to Prepare Your Family and Business for the Greatest Wealth Transfer in History’ and Founder of the Nathanson Pearson Family Office in Melbourne Victoria Australia. Today Werdiger works from the #nextgeneration of EY Family Office Guide 2019 as the bridge between generations through The Nathanson Pearson Family Office Advisory. Utilizing technology tools like his exclusive Business Succession Risk Assessment (BSRA) programs and his Bridge Between Advisory Services (BBAS). Learn more about David Werdiger and his Programs of excellence at and on social networks @dwerdiger and @davidwerdiger.https://davidwerdiger.com
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