Family wealth, unique abilities, and personal resumés

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As I noted last time, James Hughes says that a family’s wealth is contained, first and foremost, in its human and intellectual capital. Certainly sounds high-minded. But what difference might that make in practice? And how do you account for such wealth or capital?

Hughes’ second chapter is titled “The Family Mission Statement.” (From my perspective, it’s more about how to run the meeting at which we come up with the Mission Statement.) Hughes includes seven “steps” for preparing such a statement. But his second “step” is this:

For a family’s first meeting on governance, each family member should prepare a personal resumé. . . . These resumés should include everything the particular family member believes her or his best friend might know. These resumés, to be truly useful, must go far beyond the schools we attended and jobs we do; they must include the expression of our passions. After all, our passions express our individual pursuits of happiness. [p. 47]

“Funny”: On my way home from vacation last week, I read a fair amount from a book I purchased four or five years ago when I was taking Dan Sullivan’s Strategic Coach program. It’s called Unique Ability. . . .

The main idea of the authors of Unique Ability: we need, each one of us, to identify our unique abilities and pursue them. Don’t waste time on those things at which we are only “good” or even “excellent.” Spend as much of our time doing only those things (that give others value) that we are uniquely competent at doing: things that we are passionate about, love to do, do almost by habit. By focusing on these things, we will not only enjoy life more, we will provide the maximum value to others and, thus, maximize our profitability . . . to the world . . . in all of life.

That’s a nutshell summary of the book. The authors offer concrete, practical suggestions about how to determine our Unique Abilities:

Ask others in your life for their experience of your Unique Ability. Send a letter or email along these lines:

Dear _____,

I am currently reading a book called Unique Ability based on the idea that everyone possesses a combination of talents, interests, and capabilities unique to that person. Whoever you are, you have talents, abilities, characteristics that describe you and how you “do” things, what you’re good at, what others count on you for, other distinguishing features others see in you.

I’d appreciate it if you would help me identify my Unique Ability by considering and sending me an answer to the question: “What do you see as my Unique Ability?”

If you’d be willing to help me, I’d be very grateful if you could respond within the next two weeks. Thanks for your support.

I look forward to hearing from you.

Sincerely,

________
Analyze the replies for patterns. You’ll probably find some common themes!
Take the Kolbe A Index.
Use the StrengthsFinder tool (available with the purchase of Now, Discover Your Strengths by Marcus Buckingham and Donald O. Clifton).
Put together a list of “My 10 Best Habits.”
Draft a “My Unique Ability” statement that includes a summary of what you do and why you do it (i.e., your “passion”). . . .

They go into much greater detail than what I’ve merely summarized here.

But talk about “human and intellectual capital”! –I think there we have it! And if we pay attention to what each of our family members’ unique abilities are, we will account for them: we will “take them into account,” we will value them, and we will maximize their value.

Do you think such “accounting” will make a difference? I do! –A difference in each family member’s life. A difference in the family as a whole. And, ultimately, a difference in the world around us.

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