Why a Behavioral Finance Coach
As a principal of the Affinity Group, LLC, I am often asked, “What exactly does it mean when you say you are a Behavioral Finance Coach?” I can understand the question, as there is big line up of “coaches” around right now that are not part of a sports team. Many seek to help people achieve success, or realize their dreams.
Interesting enough, as Behavioral Finance Coaches, we focus on the results of success, and more importantly on solving the problems that can arise from being highly successful. It is all about behavior.
Far too often, highly successful business people put off crucial decisions because they aren't urgent. Let me share a story
Fred ran his very successful company for over 30 years. He built it into a powerhouse, grossing over 50 million per year. Sally, his wife of over 40 years raised their kids and managed their home. As Fred was such an astute businessman, she assumed he had taken care of everything and she had nothing to worry about.
Many times, the attributes and characteristics that drive business owners like yourself to great success may also cause them to take, or ignore unnecessary risks. Let me share with you some of the statements I have so often heard from fellow business owners.
“My business is like my child”
Translation: I can't possibly see it objectively.
Much like we all think our child is the cutest, the smartest or the best athlete, so too do many business owners think their business is the one that stands head and shoulders above their competitor’s. They believe that the employees will never leave, and that the busi- ness will sell for full value the day they are ready to retire. Perhaps a triumph of hope over reality?
The Affinity Group LLC. Page Now Published on the CEG Website
The Center of Economic Growth is the professional economic and business growth agency serving New York's Capital District. Their website now features an Affinity Group LLC page listed under the category of Business, Strategy and Growth.
You can visit their page by using the link: http://go.ceg.org/ExitStrategy
Family Business Consortium Formed in Newburgh
Nick Preddice, of the Affinity Group, LLC is one of the founding members of the new Family Business Consortium at Mount St. Mary College in Newburgh, NY. The first organizational meeting was held August 14th, and was attended by long standing family business owners in the Hudson Valley.
A Study of the American Family Business
Nick Preddice is currently spearheading a major study entitled, Future Unknown: The American Family Business. It is an exploration into the cultural, economic, and technological dynamics now shaping the state of our family businesses.
Nick is currently interviewing many family business owners throughout the New York Metro Area, The Capital District, and the Hudson Valley. The study may later extend to other areas of the country.
Selected interviews and discussions will be published with conclusions drawn by known experts on the American family business in a book of the same name: Future Unknown: The American Family Business. It is expected that the book will be out by the summer of 2018.
If you are an owner of a family business and wish to participate in the project, please contact Susan Valentine, 845-728-1289 for more information.