The greatest asset you can ever create is a strong personal network. That’s why I invest so much time and energy in developing and maintaining my personal relationships. As a result I have an tremendous network of friends around the world. But I am also the beneficiary of what Warren Buffet calls The Ovarian Lottery. Because on the day I was born I was instantly a member of a remarkable network. Despite the fact that I hadn’t done anything to deserve it.
My Grandmother, Judith (Benzel) Albrecht was born in 1919, in New Ulm, Minnesota. God blessed her with a sharp mind and unrelenting determination that would have gained her admission to an elite business school had she been born a century later. She spoke German as her first language.
Following high school graduation she was a valuable asset to a local startup, the phone company. Because she could speak both German and English fluently, she could serve as the middle-woman, literally connecting callers in the heavily German area of southern Minnesota.
In 1940, at 21 years old, she married my grandpa, Alton Albrecht. Together they thrived. They began farming. They began a family. And they began traveling together. It was an adventure that would last more than 66 years.
On April 15th, 2019, while I was on vacation in Texas, I got a text message from my father, Robert, that Grandma Albrecht had passed away. She was 99 years and 7 months old. A funny thing happened when I got the news. There was a moment of sadness. But that moment soon transitioned to awe at the closing of an amazing story of an amazing woman’s life.
In the wake of Grandma Albrecht’s passing, my family and I started calculating the inheritance that Grandma left for us. My Grandma and Grandpa Albrecht had been farmers in Minnesota. Early on they recognized the value of accumulating assets, and knew a good opportunity when they saw it. As a result, the 2 of them bought the Albrecht Family Farm from my great grandparents. Not long after, they found another good opportunity, and purchased another farm. And then another. And then another.
They amassed significant real estate holdings, which provided income for decades. As they eventually sold their farms and invested the proceeds they developed a significant nest egg. My Grandpa Alton died in 2006, having battled with Parkinson’s disease for 8 years. Grandma Judy kept marching, right to the doorstep of 100 years.
Over the past 2 weeks everyone in the Albrecht family has been buzzing about just how much Grandma Judy left us when she died. We have been scribbling figures on paper. We have been punching numbers into the calculators on our phones.
However, the numbers we have all been crunching are not measured in dollar and cents. Because the most valuable assets Grandma Judy left us are people. They are the members of our ever growing family she started back in 1940. As we tallied up the descendants of this grand matriarch this is what we found:
Grandma Judy Albrecht Statistics:
- 12 Children
- 10 Children who grew to adulthood (7 boys and 3 girls)
- 25 Grandchildren
- 38 Great Grandchildren
- 2 Great, Great Grandchildren
That is a total of 77 descendants, represented by 5 generations. When she passed away she had 7 children in their 70s. Those 77 relatives are in Minnesota, Wisconsin, Indiana, New Jersey, Florida, Texas, Arizona and Nevada.
We Are Family
Not only are we a large family, we are a close family. We enjoy being around each other. And we make an effort to spend time together. In fact, in June about 80 family members will gather in Estes Park, Colorado for a week long reunion, as we do every 5 years. We will all stay in one cabin and enjoy daily meals, activities and adventures, and nightly festivities together. Just like Grandma Albrecht taught us.
My large family is one of my most valuable assets. It is an ever-present support system, a cheering section, an army of role models, and constant source of humor. It provides each and every one of us with an unfair competitive advantage in life.
The Entrepreneurial Influence
My large family also played a major factor in my entrepreneurial journey. I saw the entrepreneurial spirit in my grandparents as they accumulated assets and ran their own farms. Five of my Albrecht Uncles were dairy farmers. And dairy farming is the epitome of entrepreneurship.
Several years ago my cousin Brooks Albrecht and I began talking about starting a business together. In 2015 the conditions were right, and Brooks and I started planning our own advertising agency. Despite the fact that I was in Atlanta and Brooks was in Seattle, we worked together perfectly. Like family. Like Grandma Judy taught us. By the spring of 2016 the Albrecht cousins launched The Weaponry like the Wright Brothers launched the first airplane: on a wing, a prayer, a great plan and a familial bond.
As the Albrecht Family gathered yesterday to celebrate the remarkable life of my Grandma Judy, I marveled at all she created. Being an Albrecht has always been a source of great pride for me. This large family has given me love, support and encouragement. It has offered me a sense of belonging to something significant. It has been critical to my entrepreneurial success. And it has provided a lifetime of laughs. Thanks you, Grandma.
The greatest asset you will ever inherit from your family is love, support and a sense of belonging. It is also the greatest asset you can hand down. Invest in your family. And you are certain to enjoy a remarkable return, year after year, and generation after generation.
*To read about my Grammy Sprau, who lived to be 100, and had 9 kids, click here.