Best Family Business Coach | Dubai | Familosophy
Wealth Guilt and Shame
People who are well-off are easy prey, even when things are good. When things go wrong in the lives of wealthy families, the media loves to report on it. Furthermore, neo-socialists in the United States advocate wealth redistribution and question whether the world should have billionaires.
People who are part of the "wealth minimisation" movement are encouraged to give away "excess wealth" to charity. In some circumstances, the goal is to make up for the "damage" that wealth development has caused, which appeals to guilt-based emotions. People who advocate for destroying outdated or offensive sculptures have some overlap with those who support preserving them.
A person born into an affluent household may be wondering, "What does all this mean?" Developing a positive self-image based on one's money can be extremely difficult. It is easy to feel guilty when confronted with the "acquirer's and inheritors difficulties".
Open discussions about a family's wealth can help foster favorable attitudes toward money. Donations from families and impact investing can be seen as a method to help the community as a whole, rather than just the donor's immediate family members.
Think of it like this: How old were your children when you first brought up the subject of the family's wealth? Do they have the resources to deal with their money confidently with family, friends, and professional advisors? What kind of communication do they have inside the family about issues that they're having?
Are you looking for advice on how to make your family business in Dubai operate better? David Werdiger is the number one choice when it comes to Dubai family owned business protocol help. Mr. Werdiger is helping hundreds of family owned businesses pass the torch using his famous Dubai Familosophy techniques
His market is two-fold:
Scenario #1: The older generation wanting to work with the younger generation, bring them into the company, teach them how to run things, and then retire from the office, but not the income
Scenario #2: The younger generation wanting to jump into the family business, but to be able to contribute and be heard, and not having to “wait their turn” before they can begin to help run the business.
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