Joining Jonathan Goldhill in this episode of the Disruptive Successor Podcast is Tony Rose, author and Founding Partner of Rose, Snyder & Jacobs LLP. There are four capitals that entrepreneurs can tap into, namely human capital, social capital, intellectual capital, and structural capital. When manipulated correctly, these four capitals generate money for you. Tony also comments on the critical importance of succession and legacy planning. He shares the ways he gets family businesses to take it seriously, such as framing it in the perspective of charity. Tony also explains what quadrant planning is and how strategic byproducts come about as a result. Strategic byproducts are the result of sequences you systematically put in place. This process provides an awareness of the order in which things get done most effectively.
HIGHLIGHTS
03:46 Tony's books: What they're about and what's coming
08:59 Manipulate these 4 capitals at your disposal and money will come to you
25:41 Succession and legacy planning: Do you like giving to charity?
29:22 Challenges to succession planning and understanding G1 thinking
34:28 Taxes versus charities: Know how your money helps others
36:51 Practice Q planning and reap strategic byproducts
QUOTES
05:23 "If you manipulate those four things well, money comes out. Those four things are who you are as a person, what I call human capital. Who you know, what I call social capital. What you know, what I call intellectual capital. And how you do things, what I call structural capital."
12:01 "Structural capital goes for the proposition that you create structures in your business that creates reliable, repeatable, positive outcomes until they're not so good anymore."
30:39 "G1 almost never wants to give up control. Really. So they will say to your clients, go ahead and run the business, and that's a lie. It's run the operations, but don't run the business."
36:58 "Q planning is that quadrant planning model in Say Hello to the Elephants, which starts with getting clarity, follows by deciding on solution, the next step in that process is implementation, and the final step is what we call management or sustainability.
38:54 "You might have a goal or an outcome you want to have, but because you're doing stuff, other great things happen that you don't expect, and we call that a strategic byproduct.
To learn more about Tony, you can check out the links below.
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