Preparing the Next Generation

It is exciting to share the limited seat offerings in our November 20 - 24, 2017  "Preparing the Next Generation" program in Toronto, ON. The Institute of Family Enterprise Stewards has recently launched and represents a collaboration of thought leaders, families and academic Institutions across CDA. The Institute and the initiatives it supports are without borders and we are actively exploring its expansion beyond CDA in 2018.

One of the most dynamic speakers and consultant on family business- David Simpson - will be co-facilitating the program with Susan Fulford, and as a duo, they offer expertise in innovation & entrepreneurship.

 Content:
The program covers business and financial literacy, communications, trust, values, purpose and clarity of Role & Accountability in families of business & wealth. We also include a focus on conflict & dispute resolution, risk management, negotiations as a life skill and Global Best Practices for building multi generational legacies. Case studies are used liberally. The family  guest speakers we invite in - like Mitzi Perdue, are simply the icing on the cake, and are a valued highlight.

There will be an evening reception.
 
Please call with questions,
Thank you,

Susan Fulford, M.B.A. LL.B. FEA
Dynamic Legacy Inc.
P: (416) 518 8080 | 

www.dynamiclegacy.com

 

Calgary deals to be done at the Business Transition Forum

If you are seeking to speed up your opportunity to network with those interested in the sale of businesses, check out The Business Transition Forum. The next session is in Calgary on November 8th and then Vancouver on the following week.

Top Tool to negotiate the fees for the sale of your business with confidence

For all you business owners who are thinking about selling part or all of their business, you need to download this new report by Firmex and Divestopedia.
I highly recommend reading it to get a true assessment of fees for your sale of business. 
The report also highlights the latest views from the corporate finance experts who will sell your business far better than you can do. Yes, I know you are the smartest person in the room, but you will get more money for your business when the sale is negotiated by the people who have done negotiations for decades.

Also, if you scroll down, you will see a link to sign up for a webinar with John Carvalho, the head of Divstopedia, and with Adam Mallon, BDO, who I enjoy hearing because he tells the stories from the family business kitchen table with deep empathy for the family, but also the sternness to make the right decisions.

For business owners, this report offers an invaluable tool in negotiating fees and terms for investment banking engagements. Of course, in addition to fees, due diligence must be performed on the quality and experience of the M&A advisor. The level of the success fee doesn’t matter much if an M&A transaction is not successfully completed or business owners don’t feel like they got the best outcome.

Get the Full Report

To download your copy of the 2017 M&A Fee Guide, click here.

Attend the Webinar

Join us on November 2nd, 2017 at 1 pm EST for a webinar on the key findings in the M&A Fee Guide 2017. John Carvalho of Divestopedia will moderate a discussion with Adam Mallon and Ryan Farkas of BDO Canada, Shane Stevenson, Dentons, and Jeff Deacon, IAM Group.  To sign up for the webinar, visit: https://www.divestopedia.com/reg/ma-fee-guide-2017/8356.

The whole fintech discussion has changed

Jacoline Loewen

It was terrific to hear our COO, Axel Lehmann, chat about Fintech and banking during his visit to Toronto for SIBOS. Here is a great interview with Business Insider which covers a few of the topics Axel covered with us this week.

Business Insider chatted with Axel Lehmann, chief operating officer of Swiss bank UBS, to ask how the organisation is coming to terms with fast-changing world of fintech.

Ben Moshinsky: Where are the main threats and opportunities to UBS from the fintech boom?

Axel Lehmann: True change is really coming from outside the industry. That is the key challenge we face as of today. The whole fintech discussion has changed, we have moved on from discussing whether a revolution is taking place, and how the banks will become redundant, to a place where most banks are looking at collaborative efforts with other firms. This is why most of what we do in terms of technological development we do in partnership with fintech companies.

I don’t want to get blindsided. It’s less the technology, as such, providing a transformative element in the banking industry. It’s really alternative business models that have the potential to shake up everything and eat into our cake.

It is also full of opportunities. We, the banks, are operating from a position of strength from a customer perspective especially in terms of the amount of customer interaction, the know-how we can provide, and the services we can offer. You can’t create any of this overnight.

And secondly, we have a legacy infrastructure which can be regarded as a liability, but it’s also an asset. When the Trump election got through, for example, volatility was high. We have an infrastructure that can scale up in line with volatility, and that’s something you need to have.

So, in this regard, I’m personally optimistic. It’s easier, when you look to consumer industries, for example, Uber or WhatsApp, to disrupt a lightly regulated sector. But when you look at where we as banks are, you get into the highly regulated space immediately, when you talk about balance sheet and liquidity, and this makes this industry less easy to disrupt.

But no doubt, we still do have to be mindful that we’re not losing out on some of that less regulated space, particularly at the point of customer interaction.

BM: What's the most exciting technology on your radar?

AL: I truly believe that whole question of robotics and artificial intelligence over a time horizon of four to eight years will fundamentally change the banking business. As banks, we understand that our business is all about data. These technologies have the potential to really fundamentally change the way we operate in terms of getting smarter with the customer, understanding what kind of products we should offer and so on. That is definitely exciting.

Succesful entrepreneurs who combine their business with their travel

I dislike Chai tea usually. It has a taste that does not fit my taste expectations which lean towards a sharper  Kenyan black tea. Until I was made the perfect cup of Chai tea by Eamon Fitzgerald and Rebecca Moroney, founder of Chaiwala Chai, and they changed my tea tastes

Rebecca Moroney and Eamon Fitzgerald

for ever. They use the correct traditional method and the taste was heavenly. It truly is a cup of contemplation. Now I find myself heading to Balzac for one of these Chai teas which have the comfort of a hot chocolate, but the calories of a latte. 

I caught up with the couple in the Toronto Star. Becca and Eamon have bought a van and use it to travel across Canada as they run their business, as they are also seasoned travellers who have been in Africa, Europe and South America. They would make a great pair for a reality TV show. Here is an excerpt from the Toronto Star article.

The Toronto couple has been living in a converted cargo van since spring — travelling thousands of kilometres across Canada. Their view changes often, from the snow-topped mountains of Squamish, B.C., to the beaches of Prince Edward County.
“It’s like we have a $5 million cottage on the water,” says Moroney, of spending summer days parked along a County side street. “The best part of van life is you have your home with you everywhere you go.”
Moroney, 27, and Fitzgerald, 25 are among thousands who have taken up “van life.” With more than 2.1 million posts under the hashtag #vanlife on the photo-sharing app Instagram, it’s one of the most coveted lifestyles on social media.

Read the full article.