Frequently asked questions
Q. what is the wealth maintenance organization?
A. The WMO is a membership organization of successful business owners who are dedicated to the restoration and perpetuation of the values upon which our country was founded. These business owners have a strong desire to influence the way business is conducted in a trustworthy and ethical manner. The business owner members of the WMO attend regular monthly meetings to discuss the issues of the day, problems and opportunities they face in their businesses, and to learn new methods to apply to their business operations.
Q. Who will be my fellow WMO members?
A. Some people have said that it is “lonely at the top”. It is well recognized that entrepreneurs are a different kind of people. In fact, it is sometimes said that a business owner is a true leader only if he has felt the pain of failure. Must have experience the Times is going without a paycheck for themselves just to make sure that their employees are paid. Each WMO business owner member has operated a business and is currently successful. The business owners are in a field that does not compete with other members of the local team.
Q. How will you know if I'm qualified to become a WMO member?
A. You must be invited to consider membership in the WMO by an existing member. The local team advisor will meet with you to discuss such things as your business experience, whether you are willing to share your ideas with other members, and if you are willing to accept advice and ideas from the other members. Before being accepted as a member, each of the other members of the local team must have accepted you as a new member.
Q. Will I benefit from being a member of the WMO?
A. The WMO already knows that it is impossible to be meeting month after month with other business owners and not achieve significant benefits that are truly real and worth many times the cost of the membership in the WMO. The four or five hours a month that you spend with the other team members plus additional time you may spend with the team advisor and selected professionals will reap great rewards far beyond any other time that you may be spending with outside advisors. You may be surprised to learn that up to 80% of the problems and challenges that you are facing have already been faced by the other members of your local team.
Q. Does each local team have a trained leader?
A. Your team advisor will conduct team meetings in such a manner as to provide full collaboration. Each team advisor is fully trained for sure that each team member actively participates and that all team members receive the benefits that they are seeking. Your team advisor has also been trained in coaching skills and business planning techniques to support you in your planning process.
Q. Am I to be assigned to a local team?
A. your local team advisor is likely to have several teams operating at the same time. You will be assigned you to the team that is the best match for you. Much will depend on your actual business experience, the type of business you're in, the size of your business, the number of employees, as well as the complexities of your business.
Q. Will the local team serve as an Advisory Board?
A. The local team will serve more as a Sounding Board rather than an Advisory Board. There are likely to be 10 or 12 other members on your team who are business owners. That would probably be too many to have all on an external advisory Board. In addition, there may be 2 to 6 professionals who are members of the team, including an attorney, a CPA, a real estate management expert, and perhaps a financial adviser.
Q. Isn't it advisable to have an outside independent advisory board?
A. Yes it is. Even if you already have a board of directors or an outside advisory Board, you can still benefit from establishing a Virtual Advisory Board (VAB). This is one of the strengths that the WMO offers to you. Because of the technology of the WMO Connective Wealth platform, you will be able to create your own Virtual Advisory Board as a circle of trust. Your VAB can be made up of one or more of your local team members. It can also include others who are part of the national or international WMO Connective Wealth Network.
Q. How would it be possible for me to meet with other members of my virtual advisory Board if they are out of the area?
A. When you are fully trained in the use of the unique WMO technology you will be able to meet on line, face to face, with your Virtual Advisory Board at any time. The WMO technology allows you to have up to nine VAB members on your screen at the same time. It also permits you to share your dashboard of measurements on each of your projects with all of your own VAB members. You'll also be able to share files, presentations, financial information, and whiteboards with anyone you choose. No one else outside of your “Circle of Trust’ will be able to see your information. You may invite any of your existing advisors, such as your attorney, your accountant or key employees, to attend a meeting, in addition to those that you've chosen to be in your circle of trust.
Q. How much time will I have to commit to the WMO?
A. That will depend on the membership level that you choose once you become a member. Generally speaking the meetings on a monthly basis will take four perhaps five hours. That depends upon whether you include breakfast or lunch. You will also be entitled to one or more hours of personal coaching sessions per month again depending upon the level that you choose. In addition you may take advantage of personal consultations provided by the professional associates that would be assigned to support your team.
Q. What is next for me to do?
A. Your local team advisor will arrange for you to have a local orientation meeting. At this meeting you may join one or more other potential candidates for membership in the WMO. Most people attending these meetings find significant value in that initial exchange of thoughts and ideas. There is no obligation and your team advisor will explain the assessment process which, right from the beginning, is one of the most helpful parts of our program.
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