Event Recap: Understanding Your Net Worth: Why Does it Matter?

Author: Juliet C. Hart
Contributor: Raechelle Raimondo
 
On Tuesday, 15 September 2020, HBA Central New Jersey held the fourth event of their financial series. Here is a summary of the event.
 
Keynote speaker, Roz Usheroff, founder and CEO of The Usheroff Institute, tapped in the secret of all our net worth, which is creating and truly leveraging the relationships in our networks. She shared with us the pivots that she made during 2020 in order to sustain her business as an entrepreneur and nothing was more important than the relationships that she had built over the years. She called to them for support and they responded. In this way, using the "Law of Reciprocity" and multiplying your value through "net-giving" can provide opportunities in ways you wouldn't possibly expect. Your network brings value to you.
 
Then followed the moderator, Nancy Miller-Rich, advisor and board member of Aurora, to provide her perspectives on value creation within the organization. What is important to keep in mind is that big pharma, biotech and the individuals themselves all see value and worth from different perspectives. Taking a look at the portfolio of each and understanding how each defines value and relating it to the organization, the investors and leadership are important. 
 
The Panelists: 

  • Nancy Miller-Rich, advisor and board member Aurora
  • Ali Ardakani, founder and managing director, Novateur Ventures Inc.
  • Roz Usheroff, founder and CEO, The Usheroff Institute
  • Jason O'Bryon, senior associate mariner, Capital Advisors
  • Jana Shoulders, managing director, Mariner Wealth Advisor

Next, the panel discussion was rich in perspectives with wealth advisors and board members of healthcare organizations adding their thoughts around bringing value to the table. 

Nancy Miller-Rich as a seasoned big pharma executive as contributed to multiple boards and been an advisor to many companies. She commented that from the individual's perspective to understand your value, sit in the shoes of your leadership/boss and try to understand where they are coming from and what they understand is value. Value in big pharma and as an individual it is about growth potential vs. biotech value is more aspirational.

Ali Ardakani has raised over $100 million for many life sciences companies. He suggested considering our intangibles values, such as reputation and your relationships, things that you have spent your entire life building. Also consider if you are looking to join a board, do your due diligence. Be careful with who you associate with, your reputation is very important.

Roz Usheroff is a branding expert. She has leveraged mastermind groups to get women together to be open and transparent. When she formed the group, the women weren't necessarily friends, but now they are. There's a magic to leveraging the "art of wow" - wisdom, opportunity and wealth.

Jason O'Bryon and Jana Shoulders from Mariner Wealth Advisors, a personal financial investment company, shared their perspectives on indicators of the value of companies. Questions to consider when evaluating companies: Is the company making a consistent profit? Does the company have a growing customer base/network? Is the growth of the company organic and/or innovative? What is important factors are: team/employee satisfaction, positive culture and strong financial strategy.

There was a light moment in the discussion when the panelists started to play with their virtual backgrounds (including a Simpsons cartoon) to highlight that in this virtual professional environment, we can still express who we are and get a peek inside a person's personal world.

It's important to take advantage of today's world, reach out and network with a purpose. Don't wait for someone to reach out to you.