“Co-entrepreneurial success is only as
good as the level of research, prepara-
tion, timing, and commitment.”
the other to the left. We divide the tasks at hand according to our
individual strengths and then conquer the tough issues using our
combined brains and energy.
Granted, it did take a while for us to fine tune it all, but it
started with recognizing one another’s areas of excellence, and
allowing one another our own niches and autonomy. The division
of labor comes naturally with this approach, and in turn helps
define roles and lines of authority. We refer to this method as
co-independence. It allows each of us the respect and trust to be
independent in some areas, while in turn being dependent and
capitalizing on the power of two. When you work in this manner,
the search for command suddenly becomes insignificant.
Franchising has been the method of choice for millions of
married couples who want to work together toward one common
goal, economic independence. They continue to embrace the
challenges in their marketplaces and collectively share in the
rewards. AD
Gloria Plaisted is managing director of BrandChise LLC, a full service
franchise and branding solution source for new and existing franchise
companies. Contact her at www.brandchise.net, 800-905-2726, or at
gplaisted@gmail.com.
Investment Insights continued from page 53
force are too important (from a life perspective) to ignore. In
addition, the definition of “work” is quite broad, and the
opportunities available to today’s youth are limitless. Volunteering
regularly at the local nursing home, coaching a team of youngsters in
a sport they enjoy, umping or refereeing games, or helping Grandpa
on the farm or in the business for the summer are all legitimate ways
to ensure that your offspring are picking up critical life lessons.
Money can’t buy the kind of feeling that comes from giving back,
or getting to work in a career you adore while in an intellectually
stimulating environment. Yet the challenge facing affluent parents in
raising children to be virtually free of an entitlement mentality—or
from an over-emphasis on money itself—has become increasingly
complicated. Still, with a little thought and some attention to
capitalizing on “teachable moments,” you can ensure that you are
cultivating not just money smarts, but life smarts. AD
Carol M. Clark, CFA, is a partner and
i nvestment principal of Lowry Hill, a
c omprehensive wealth management firm
providing proprietary investment management
a nd financial services to families, individuals,
a nd foundations with wealth greater than $10
m illion. The firm currently manages more than
$ 6 billion in assets for 300 families and more
t han 60 foundations from its offices in
Minneapolis, Naples, Fla., and Scottsdale, Ariz.
S he welcomes questions and comments at cclark@lowryhill.com.
