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Recent content by G. Wellthy

  1. G

    Patent Already Exists For My Idea?

    IDEA 
    Any good patent attorney can draft your claims to have a shot at novelty. But honestly, patents are just the paperwork that lines up future litigation arguments. Neither you OP nor the original inventor should feel like your patent protects you from competition. It just simply does not work that...
  2. G

    AMA: Email Marketing, How To, Best Practices

    MARKETING 
    Would someone be interest in consulting towards my introduction to email marketing? I’m constantly meeting wealth management industry people that need to understand family governance and think I could build a free weekly newsletter followed by a paid one, rather quickly.
  3. G

    'I've Never Met a Happy Millionaire' -Tyson Fury

    HOT! 
    I’ve found that the complexities of wealth, both in financial/tax/“hard” issues and personal/relational/“soft” issues increase the probability of being unhappy. But most people find systems that work for them on the financial side, that grabs more happiness probability, and most people avoid...
  4. G

    I'm going to go from bankruptcy/£240,000 personal debt to a life of freedom using Facebook ads.

    EXECUTION 
    Negotiating the debts makes sense to me. I would calculate the number of the total debt repaid at around 2X your director fees. Or about 2-3x your house equity. Somewhere in that range seems like the right trade for avoiding bankruptcy. But it’s not a fair trade at 10x your equity. Don’t...
  5. G

    Taking over business from retiring baby boomers

    HOT! 
    Many of these smaller businesses are dangerously tied to personal goodwill. So working for the business (and after you buy the business, the previous owner working for you) are great strategies. 3X normalized profit is a pretty standard metric for boring, mature businesses. I’ve seen as...
  6. G

    Preserving Wealth, My #1 Tip. Don't Get Married! (Or Maybe You Should?)

    NOTABLE! 
    #4 is the key for me. Common law partners often have as many rights as married partners. Prenups / postnups / common law property agreements. Have an agreement
  7. G

    Preserving Wealth, My #1 Tip. Don't Get Married! (Or Maybe You Should?)

    NOTABLE! 
    @JScott thank you for putting your LinkedIn profile on your page. You are so clearly a financial success AND doing so much good for fellow entrepreneurs. It looks like you are well on your way (at a very young age) of ensuring your kids and grandkids will have very privileged lives. This...
  8. G

    Preserving Wealth, My #1 Tip. Don't Get Married! (Or Maybe You Should?)

    NOTABLE! 
    Not too many businesses are unsellable. Too tied to personal goodwill? You’re in RE right? I’m using “disaster” to describe the relationship of wealth creator to the business, wealth creator to the kid, and the kid’s ability to lead a fulfilling life. Not the business itself.
  9. G

    Preserving Wealth, My #1 Tip. Don't Get Married! (Or Maybe You Should?)

    NOTABLE! 
    Happy to elaborate. This is a soapbox topic for me. The key word I use is “intent”. If the intent is to transfer intergenerationally, a few things naturally happen: 1) proper systems aren’t built in, the tendency being “no governance” 2) the creator never passes control and/or leadership...
  10. G

    Preserving Wealth, My #1 Tip. Don't Get Married! (Or Maybe You Should?)

    NOTABLE! 
    In most jurisdictions, conjugal relationships have pretty similar rights to married couples. So check out what being “common-law” means in your state. If you are approaching six months together with the same person and they won’t sign a common law prenup... that’s probably a sign of bad times...
  11. G

    Preserving Wealth, My #1 Tip. Don't Get Married! (Or Maybe You Should?)

    NOTABLE! 
    Building a business without the intent to sell it is a complete disaster for you and your child. Without self-determination, you are enslaving your kids to an unfulfilled life. If they want to follow in your footsteps and reach that conclusion independently, that is a blessing and you are...
  12. G

    Really good (but obscure) business books?

    HOT! 
    I’m surprised you naturally lean/assume failure in your fellow fastlaner... that doesn’t seem necessary or even productive. Agree we all need to push harder at times, I’m just surprised by the tone.
  13. G

    Really good (but obscure) business books?

    HOT! 
    Moreso on wealth than business but: Every Family’s Business by Thomas Deans The premise is that every family business must be built to be sold. And if, IF, transitioned to the next generation, it should be sold to them. Family Wealth by James Hughes redirected my career. A super famous...
  14. G

    Give Value First (thoughts on feeling lost at the start of the process)

    MINDSET 
    Thanks for posting. You give you give you give TO ASK (not to get) Once providing value, it feels so much safer and easier to ask to be paid to add additional value. I think in the marketing book Influence, this is described psychologically as the guilt-driven desire to repay once indebted to...
  15. G

    How to (ETHICALLY?) Profit Off of Natural Disasters

    HOT! 
    The title caught my attention! Mostly because a close friend has done an ethical job of profiting from natural disasters and the general climate change trend. He runs a catastrophe claims adjustment company. Catastrophe Response Unit. https://cruadjusters.com/ Actually his adjusters make...
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