Welcome Aboard! Welcome to Legacy Quarterly Magazine! We are thrilled to bring you fascinating articles showcasing prominent celebrities, visionary thought leaders, unique travel experiences, and much more. Our goal is to take you on a journey like no other, delivering content you won’t find anywhere else. Regarding travel, we believe in taking you beyond the surface, showcasing the world’s beauty, and inspiring you to explore new destinations. From breathtaking landscapes to hidden gems, we’ll bring you an insider’s perspective that will leave you eager to plan your next adventure. But we continue beyond travel. We are confident that you will enjoy our articles on luxury, food, and wine and will treat you to a well-rounded and enjoyable reading experience. From the latest trends in fashion and lifestyle to the finest cuisine and wineries, we’ll showcase the best of the best, providing you with an exclusive look at what makes luxury truly special. We value your ideas and feedback, so if you have any suggestions for future articles or are interested in advertising with us, please don’t hesitate to reach out to lea@smartfem.com. We’re here to make your experience with Legacy Quarterly Magazine unforgettable. So, buckle up and get ready for takeoff! We’re excited to share the skies with you and bring you the ultimate in travel, luxury, food, and wine.
Sincerely, Lea Woodford
Content
Article 2 ->> 12
Article 1 ->> 04
Breaking Barriers: The Inspiring Story of Suzanne Somers’ Entrepreneurial Journey
Uncorking Napa: A Journey Through the Best Vineyards in the Valley
Article 4 ->> 26
Article 3 ->> 18
Taste the Magic of the Big Apple: A Guide to the Top 5 Must-Visit Restaurants in New York City
Discover the Gems of Abu Dhabi: The top 9 Attractions You Can’t-Miss
Making Storybooks Accessible To All Children Article 5 ->> 30
Article 6 ->> 34
Say Goodbye to Plastic Surgery: Discover the Revolutionary Benefits of Facetite and Morpheus 8
Article 7 ->> 40
The Dark Side of Business Partnerships: Lessons Learned and How to Protect Your Interests
Magazine Design by SmartFem Media Group
Uncorking Napa
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A Journey Through the Best Vineyards in the Va ey By Lea Woodford
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N apa Valley has something to offer everyone, whether you’re a seasoned wine connoisseur or just getting started on your wine journey.
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N apa Valley is a wine lover’s paradise, known for its picturesque vineyards, world-class wineries, and delicious wines. The region’s diverse soils and microclimates, combined with the expertise of its winemakers, produce a wide variety of wines that are sure to delight any palate. Napa Valley has something to offer everyone, whether you’re a seasoned wine connoisseur or just getting started on your wine journey. One of the most renowned vineyards in Napa Valley is Harlan Estate. This vineyard is known for its rich, full-bodied Cabernet Sauvignon and Bordeaux-style blends. The estate’s rocky, volcanic soils produce grapes with intense flavor and depth, making Harlan Estate wines some of the most sought-after in the world. Visiting the winery is an experience in itself, as you can tour the estate, learn about the winemaking process, and taste some of the wines. Another must-visit winery in Napa Valley is Opus One. This winery is a collaboration between Napa Valley’s Robert Mondavi and France’s Baron Philippe de Rothschild, producing elegant and refined Bordeaux-style wines. The winery’s meticulous vineyard management and winemaking techniques result in highly sought-after wines by collectors and connoisseurs. Visiting the winery, you will have the chance to tour the state-of-the-art facility, learn about the winemaking process and taste some of their wines.
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Napa Valley
“Drinking good wine with good food in good company is one of life’s most civilized pleasures.” Michael Broadbent
Screaming Eagle is a winery that has gained a cult following for its limited production and high- quality wines. The winery’s Cabernet Sauvignon is known for its rich, complex flavor and aging potential, making it a must-try for any wine lover. The winery is known for its secluded and intimate atmosphere, making it an excellent destination for a private and exclusive wine-tasting experience. Staglin Family Vineyard is another must-visit destination. This winery is one of the most sustainable in Napa Valley and is known for its Chardonnay and Cabernet Sauvignon. The winery’s commitment to sustainability and its focus on producing high-quality wines make it a standout in the region. The winery offers tours of the vineyard and winery, as well as tastings of their wines. They also allow visitors to learn about the winemaking process and taste some of their delicious wines.
Inglenook is a historic winery that has been producing wine since the 1800s and is now under the direction of Francis Ford Coppola. The winery’s blend of traditional and modern winemaking techniques produces wines with a unique character and complexity. The winery offers tours and tastings, as well as a variety of other experiences, such as food and wine pairings and vineyard walks, that are sure to delight any wine lover. Napa Valley is a destination that every wine lover should visit at least once in their lifetime. There are so many outstanding vineyards and wineries that you may have to have an extended stay in Napa to experience them all. Each winery offers a unique experience, from stunning scenery to delicious wines, and all of them are united in their dedication to producing world-class wines. So why not plan your next wine getaway to Napa Valley and discover why it’s one of the most famous wine regions in the world? Legacy Quarterly 10.
Las Sendas Golf Club
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contact : Wayne McBean • (480) 323-9364 wmcbean@lassendas.com
The Inspiring Story of Suzanne Somers’ Entrepreneurial Journey
By Lea Woodford
A s I sat down with and openness as she shared her experiences and journey in the entertainment industry and her life as an entrepreneur. One topic that stood out was her time on the hit sitcom “Three’s Company” and her departure from the show. Her honesty and willingness to speak openly were refreshing and made for an intriguing conversation. In this article, we delve deeper into her time on the show, her thoughts, and other aspects of her career and life. Suzanne Somers for an exclusive interview, I was struck by her kindness Suzanne Somers is a true entertainment powerhouse and a trailblazer in entrepreneurship. She rose to fame with her iconic portrayal of Chrissy Snow on the hit sitcom “Three’s Company” in the 1970s and 80s, capturing the hearts of audiences everywhere. Her career dramatically shifted after being unexpectedly fired from the hit show. We asked her about Three’s Company, her departure, and why the show never felt the same after her departure. She revealed the depth of her dedication to her craft, explaining that Chrissy Snow was
not just a character on a TV show but a fully realized, impeccably crafted woman with integrity and heart who captured the hearts of audiences everywhere. “Chrissy Snow is a character I am very proud of; I didn’t want her to be the typical dumb blonde. I wanted her to be loveable and have integrity. Chrissy Snow was kind, innocent, ditsy, loveable, and would never dream of stealing a friend’s boyfriend.” Men loved her, women loved her, and I naively thought she would become irreplaceable.”
contract for me.” Unbeknownst to us was that Laverne and Shirley had just renegotiated with ABC, and it cost them a lot, and they wanted to put an end to women asking for raises. There was no negotiation. They used me as an example and to shut down women for asking for raises. I was shocked as I thought I was safe because of the show’s status and my character’s popularity. I always liken it to you sitting in the back seat of a car, speeding down a long, lonesome road, and then somebody opens the door, pushes you out, and keeps on going. You’re just sitting there, watching the car get smaller and smaller in front of you, and that’s what I felt like.” “It was a terrifying ordeal as not only had I lost my role in Three’s company, but I was also blacklisted from the industry, and I couldn’t find another acting job. We didn’t
“I had been working on
Three’s Company for six years, and my contract was just about up, and my husband Alan Hamel and my attorney went to ABC to renegotiate a new
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educate and inform readers on critical health issues, but they have also helped empower women to take charge of their health and well-being.
know what we were going to do. It was a challenging time for us. And that’s when I realized, we were going to create something with my well-recognized name. I couldn’t do television, but I had a name that was recognized around the world.” “It was about that time that Thigh master entered the picture. I put on a leotard with nude legs, and high heels and did a commercial that nobody had done before. You have to use what you got, and I have good legs.” I think we sold 10 million thigh masters in the first two years. This was all before the internet.” I can only imagine our sales if we had been online and had social media at our disposal.” Thigh Master would be the beginning of a lifelong entrepreneurial journey. After the
Three’s Company incident, Suzanne and Alan made a pact that they would never allow anyone else to determine their financial future. Suzanne explains that Thigh Master brought her to the health and wellness arena, but her own health made wellness a priority and a passion in her life. Somers is a well-known advocate for women, a best-selling author, and an incredible entrepreneur in the health and wellness industry. She has inspired women for decades with her positive message of self-empowerment and taking control of one’s health and well- being. As a bestselling author, Suzanne has written 27 books on various health and wellness topics, including “The Sexy Years,” “Ageless: The Naked Truth About Bioidentical Hormones,” and “Tox-Sick: From Toxic to Not Sick.” These books have not only helped
In addition to her work as an author and entrepreneur,
Suzanne is also a vocal advocate for women’s rights and has been a vocal critic of the healthcare system and how it has traditionally treated women’s health issues. She has used her platform to raise awareness about important women’s health issues, such as hormone replacement therapy. She has strongly advocated for bioidentical hormone therapy as a safe and effective alternative to menopause. She has faced challenges from the medical community as a result. Suzanne believes that the current state of the environment is dire and that there is an epidemic of cancer in the country. She intends to advocate for women and create safe and organic products. Suzanne notes that toxins are in the air,
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water, food, and products people buy, and it is important to address this problem. Her frustration with the current marketplace led her to create her own organic brand of skincare, haircare, color, cosmetics, and other products. In conclusion, Suzanne Somers is a force to be reckoned with in women’s health and wellness. Her dynamic and empowering approach has provided valuable resources to women for decades. Her website, suzannesomers.com, serves as a beacon of hope and inspiration for those looking to take control of their health and wellness journey. Suzanne’s companies have developed and marketed over a thousand products that are good for you. Despite facing critiques and obstacles, Suzanne continues to march forward, blazing a trail for other women. Her unwavering dedication to uplifting and empowering women is admirable and shows no signs of slowing down.
-------------------------------------------
To learn more about Suzanne Somers, check out her website www.SuzanneSomers.com or her Facebook page. She and Alan do a Facebook Live on Mondays and Wednesdays and Friday of Every week at 4PM PST www.facebook. com/suzannesomers .
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Abu Dhabi
The top 9 Attractions You Can’t Miss
By Lea Woodford
A re you ready for an desert, offering visitors a chance to indulge in luxury, culture, and adventure all in one place. From the grandeur of the Sheikh Zayed Grand Mosque to the thrills of Ski Dubai, there’s something for everyone to enjoy in Abu Dhabi. In this article, we’ll highlight the top 9 must-see attractions that will make your trip to Abu Dhabi unforgettable. adventure unlike any other? Look no further than Abu Dhabi, the capital of the United Arab Emirates. This city is a true gem in the
1 . Visit the Sheikh Zayed Grand Mosque: This magnificent mosque is one of the largest and most beautiful in the world. With its 82 domes and four minarets. Tourist can take a guided tour to learn more about the mosque’s history and architecture. The mosque’s intricate tile work, marble floors, and gold-plated chandeliers are genuinely breathtaking. The mosque is also a symbol of unity and tolerance, with different architectural styles from various Islamic cultures. 2 . Explore Yas Island: This man- made island is an entertainment and recreation hub. Visitors
can enjoy various activities, such as shopping, dining, and entertainment at Yas Mall, the largest shopping center in Abu Dhabi, or take a spin on the Yas Marina Circuit, the home of the Abu Dhabi Grand Prix. Yas Island is also home to Yas Water world, one of the largest water parks in the world, and Yas Marina, a luxurious marina and dining destination. Visitors can also stroll at Yas beach or enjoy a sunset cruise. 3 . Stay at the Atlantis Hotel: Located on the man-made Palm Jumeirah Island, the Atlantis Hotel is a luxurious resort that offers the perfect blend of modern
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slopes are covered in real snow and maintained at a temperature of -1°C to -2°C, providing the perfect conditions for skiing and snowboarding. Visitors can also enjoy a variety of other winter activities, such as snowboarding, tobogganing, and snowboarding lessons are also available for those who are new to the sport. 5 . The Emirates Palace is a luxurious hotel known for its opulent architecture and grandeur. The hotel features gold-plated domes, marble floors, and intricate arabesque designs that impress visitors. A tour of the palace allows visitors to see the
grand halls and opulent rooms, and the palace’s tea lounge offers a unique experience of indulging in high tea in an elegant setting. 6 . A desert safari in Abu Dhabi is a must-do for visitors who want to experience the stunning desert landscape. With a 4x4 tour of the desert, visitors can see the vast sand dunes and explore the area’s natural beauty. The tour also includes a traditional Arabian barbecue and the opportunity to try activities such as sandboarding. 7 . The Abu Dhabi Falcon Hospital offers visitors a unique experience of learning about
luxury and Arabian heritage. The hotel features luxurious rooms and suites, a private beach, swimming pools, water parks, marine habitats, and the Lost Chambers Aquarium, home to over 65,000 marine animals. Guests can interact with dolphins and sea lions or experience the thrill of shark diving. The hotel also offers a variety of dining options and shopping boutiques. 4 . Ski at Ski Dubai: Located in the Mall of Emirates, Ski Dubai is the largest indoor ski resort in the Middle East and offers visitors the opportunity to ski and snowboard on real snow all year round. The
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Sheikh Zayed Grand Mosque, Abu Dhabi
9 . Abu Dhabi’s local cuisine is a blend of Arabian and Indian influences, and visitors should not miss the opportunity to try dishes such as Machboos, Harees, and Shawarma. These dishes are known for their rich flavors and spices and reflect the local culture and cuisine. In conclusion, Abu Dhabi is a destination that truly has it all. From the grandeur of the Sheikh Zayed Grand Mosque to the luxury of the Atlantis Hotel, the city offers visitors an unforgettable experience. Whether you’re looking for culture, adventure, or pure indulgence, you’ll find it in Abu
falconry and getting close to these magnificent birds. Visitors can participate in a falconry experience and take a falcon out for a flight, a once-in-a-lifetime opportunity. 8 . A day trip to Al Ain , located about two hours from Abu Dhabi, is a great way to explore the city’s rich cultural and historical heritage. The “Garden City” is home to various sites such as the Al Ain Oasis, the Al Ain National Museum, and the Al Ain Palace Museum, which offer visitors a glimpse into the city’s history and culture.
Dhabi. Take in the beauty of the desert landscape on a thrilling desert safari, or hit the slopes at Ski Dubai for an unforgettable indoor skiing experience. Indulge in world-class shopping, dining, and entertainment on Yas Island, or explore the rich history and culture of Al Ain. With so many things to see and do, Abu Dhabi is a destination that should be on every traveler’s bucket list. So pack your bags and get ready for an adventure like no other in the captivating city of Abu Dhabi.
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Taste the Magic of the Big Apple: A Guide to the Top 5 Must-Visit Restaurants in New York City
F ew cities in the world cultures, and fast-paced energy, New York is a melting pot of sights, sounds, and flavors. When it comes to food, New York is a true haven for gourmets. With a never- ending array of dining options, the city offers a diverse selection of cuisines and dining experiences evoke as much excitement and anticipation as New York City. Known for its iconic skyline, diverse that locals and visitors love. In this article, we’re showcasing the
seasonal ingredients and modern French techniques, resulting in a feast for the senses. The service is impeccable, with attentive staff who will make you feel like royalty. The presentation of each dish is nothing short of a work of art, making Per Se a true masterpiece of gastronomy. 2 . Eleven Madison Park: This contemporary American restaurant in the Flatiron District is the epitome of sophistication and elegance. The menu, which features locally
top 5 restaurants in NYC that are guaranteed to provide a culinary journey like no other and a glimpse into why New York is the food capital of the world. Get ready to indulge in some of the best food you’ve ever tasted and embark on a culinary journey that only the city that never sleeps can offer. 1 . Per Se: Located in the heart of Manhattan, Per Se is a French fine dining restaurant that offers a once-in-a-lifetime dining experience. The multi- course tasting menu showcases
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4 . Daniel: This French The menu features classic French dishes with a contemporary twist, made with the freshest ingredients. The warm and elegant atmosphere, combined with exceptional service, makes Daniel a dining experience that will leave you feeling like a VIP. 5 . Peter Luger Steak House: restaurant in the Upper East Side is a feast for the senses. This classic steakhouse in Brooklyn has been serving up mouth-watering steaks for over 130 years and is considered one of the best steakhouses in the city. The menu is simple, featuring only steaks, sides, and a few other traditional dishes, but that’s all you’ll need. The juicy, succulent steaks are cooked to perfection and will leave you dreaming of your next visit to Peter Luger Steak House.
New York City is a food lover’s paradise, with a never-ending array of dining options. The top 5 restaurants in NYC that you must try are Per Se, Eleven Madison Park, Le Bernardin, Daniel, and Peter Luger Steak House. Each restaurant offers a unique dining experience, from fine French dining to classic steakhouses, that will leave you with unforgettable memories. Whether you’re a local or a visitor, these restaurants are a must-visit for anyone looking for a truly outstanding dining experience in NYC. Get ready to indulge in some of the best food you’ve ever tasted and embark on a culinary journey.
sourced ingredients, changes seasonally to reflect the freshest options. The multi-course tasting menu is a culinary journey that will leave you in awe. The exceptional service, combined with the breathtaking presentation of each dish, makes Eleven Madison Park a dining experience you’ll never forget. 3 . Le Bernardin: If seafood is your thing, look at least Le Bernardin, located in Midtown Manhattan. This seafood- focused restaurant has received numerous accolades and is considered one of the best seafood restaurants in the world. The menu features a variety of fresh seafood dishes, including its famous sushi- style sashimi that will tantalize your taste buds. Le Bernardin is a true ode to the ocean and a must-visit for seafood lovers.
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Making Storybooks Accessible To All Children
R emember the remember the pictures in those books and perhaps certain words that matched them. If you could not see or hear, would you have that memory? The problem is that mainstream children’s illustrated books are not fully accessible to over 5 million U.S. children with Special Needs. stories you read as a child? Regardless of your age, you still probably Imagination Storybooks creates accessible children’s books that enable all children to have a sensory experience, engaging all their senses, and increasing learning and development. Children ages 3-8 who are vision or hearing challenged or have a learning challenge such as autism or dyslexia are limited by books not made for them. Imagination Storybooks ensures their education
is limitless by giving them the gift of communication in accessible language. “The mission of Imagination Storybooks is to bring the magic, wonder and learning of children’s storybooks to every child.” Richard Rieman, Founder and CEO, Imagination Storybooks and Imagination Videobooks, Inc. Richard founded the nonprofit, Imagination Storybooks, to bridge these gaps and support blind and deaf children. His team of narrators and interpreters—over a dozen of whom are blind or low vision themselves—combine digital picture books with Audio Descriptions (AD) of the illustrations and a digital braille file, as well as captions and American Sign Language (ASL) interpretation. “Today, everything can be read in a robotic voice on a device, but we are trying to give children a
performance, and teach them to love books even at three, four, and five years old,” Richard explains. Imagination Storybooks partners with the nationally recognized Described and Captioned Media Program (DCMP.org), funded by the U.S. Department of Education, so tens of thousands of blind children, their parents, and their teachers have free access. The Winnie-the-Pooh Project Now that the 1926 edition of Winnie-the-Pooh by AA Milne is in the public domain, Imagination Storybooks is producing accessible video and audiobook adaptations of the classic to everyone. The finished project will be over two hours in length. Richard says, “we want all children to fall in love with Winnie-the- Pooh and the beloved characters
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*** A partially sighted little girl and her mother look at a video display of a children’s book
The American Council of the Blind awarded Imagination Storybooks its Special Recognition Award in 2021 for dedicating its mission to fostering early literacy for children who are blind or have low vision. Richard adds “we also believe that audio description is best when produced by the people who use it. Our Executive Producer, Chris Snyder, is a blind audio description quality expert and award-winning narrator and audio engineer. In addition, we hire blind and low- vision narrators and blind quality- control experts to involve and give back to the community of audio description patrons.” The Denver, CO based nonprofit has adapted more than 120 picture books, including Winnie-the-Pooh, and other independently published books that grant permission to distribute accessible versions. “We select stories that normalize the fact that every child is different, and that’s OK,” Richard says. “Our mission is to reinforce children’s core values, such as kindness and empowerment, through the creative forces of children’s book authors, illustrators,
publishers, and narrators. We do this by seeking out books that have beautiful illustrations, fun stories, and valuable messages of inclusion.” Be part of the magic. Imagination Storybooks is seeking corporate sponsors for “The Storybooks Club”
*** The “Audiobook Wizard,” Richard Rieman, hosts a free weekly podcast on Spotify, Apple and dozens of podcast channels.
of Hundred Acre Wood including children who are blind, deaf, and learning challenged.” “Because most children’s book publishers don’t have the resources to make their picture books accessible,” Richard says, “Imagination Storybooks has stepped in to create book sponsorship opportunities to deal with what the World Health Organization calls ‘a famine of books for blind children.’” Imagination Storybooks also produces the weekly Illustrated Audiobooks podcast, winner of the 2022 Communicator Award for Excellence as “Best Storytelling Podcast” and the International Academy of Digital Arts & Sciences Gold Signal Award for “Most Innovative Audio Experience.”
*** A little girl watches an Imagination Storybooks video with American Sign Language interpretation
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About the Author: The founder of Imagination Storybooks, Richard Rieman, is a Global eBook Awards Gold Medal Winner in Writing and Publishing, a 5-time winner of the Colorado Independent Publishers’
Association EVVY Award for audiobook narration and
production, and recipient of the Gold Medal National Ben Franklin Independent Book Publishers Assn. (IBPA) award for Audiobook Nonfiction. Rieman’s work as a former guide and racing instructor for blind skiers and as a volunteer narrator for Learning Ally kept him dedicated to the visually
impaired community. Richard also has progressive Glaucoma and is losing his own eyesight; “but not,” he says, “my vision.” Contact Richard Rieman at Richard@ImaginationStorybooks.org 720-507-5970, ImaginationStorybooks.org
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Say Goodbye to Pla ic Surgery: Discover the Revolutionary Benefits of Facetite and Morpheus 8
By Lea Woodford
With the advancements in cosmetic technology, many non-invasive alternatives to plastic surgery offer similar results without surgery.
W e recently sat down with Mari Contreras of Fresh Start Aesthetics to discuss the latest advancements in plastic surgery alternatives. Mari is a knowledgeable and experienced aesthetician who understands the needs of her clients. During our meeting, we were introduced to Facetite and Morpheus 8, two innovative and non-invasive treatments that are quickly gaining popularity as the perfect alternatives to plastic surgery. Plastic surgery has been a popular solution for people looking to improve their appearance for decades. However, as
the demand for less invasive cosmetic procedures has grown, many people are now seeking alternatives to traditional plastic surgery. This is because plastic surgery can be expensive, time- consuming, and often comes with significant downtime and potential risks. Many alternative options are available if you’re looking to improve your appearance but want to avoid going under the knife. There’s something for everyone, from non-invasive treatments like Facetite and Morpheus 8 to minimally invasive procedures like injectables and laser treatments. The key is to find the proper
treatment that fits your needs, goals, and budget.
These treatments continue to get better and while they don’t provide the same dramatic results of plastic surgery they do show significant improvements that are not only immediate but continue to improve with time by stimulating your body to create its own natural collagen. Collagen is a natural protein that is a building block for healthy, youthful-looking skin. It provides structure and elasticity, giving your skin a plump and smooth appearance. As you age, your body produces less collagen, which can lead to fine lines, wrinkles,
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and sagging skin. This decline in collagen production is a natural part of the aging process but can also be accelerated by factors such as sun exposure, smoking, and poor diet. To help maintain healthy, youthful-looking skin, it’s important to take care of your body and skin and consider using skincare products and treatments that promote collagen production. With Facetite and Morpheus 8 you have minimal downtime, so you can get back to your regular routine faster. Unlike plastic surgery, which can require weeks of recovery, you can expect to return to your daily activities within a few days to a week after treatment. This makes it an ideal option for people who want to
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avoid taking time off work or being unable to participate in their regular activities for an extended period. Moreover, these treatments leave no scarring, making them an excellent option for people who want to improve their appearance without worrying about visible scars. Unlike plastic surgery, which involves cutting the skin, Facetite and Morpheus 8 use radiofrequency technology to target and tighten the skin, leaving
It’s important to understand that while Facetite and Morpheus 8 can deliver excellent results, they are not a replacement for plastic surgery. They are a fantastic alternative for people who want to look their best without the risks and downtime associated with surgery. You can expect to see tighter, refreshed skin with these treatments, but the results are a more natural rested look. In conclusion, Facetite and Morpheus 8 offer a unique opportunity to improve your appearance with minimal downtime, no scarring, and an affordable cost. If you’re looking to enhance your natural beauty
without undergoing plastic surgery, these non-invasive treatments are worth considering. With Facetite and Morpheus 8, you can have the confidence to look your best without making a significant investment of time and money. Schedule a complimentary appointment with Mari and her fabulous team at Fresh Start Aesthetics to see if Facetite and Morpheus 8 are right for you. To learn more about her services, check her website at www.freshstartaesthetics.com.
it refreshed and rejuvenated without any visible signs of treatment.
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The Dark Side of Business Partnerships:
Lessons Learned and How to Protect Your Interests
By Paul Woodford
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M any of us in business have learned that a business partnership is a lot like a marriage but harder to get a divorce. Apart from the obvious differences between the two types of partnerships there are a lot of similarities. Both require a great deal of trust and mutual respect, and both typically involve the mingling of financial resources. For this reason, it’s imperative to know who you are doing business with and protect yourself and your long- term interests. Whether it’s family, a friend, or just someone who conveniently comes along at the right time when you need them, a business partnership should be planned, and the terms and roles of each partner clearly laid out in advance. There needs to be mutual understanding of the duties and responsibilities and what each party is bringing to the table. Money, expertise, customer connections, assets; these are all valid and valuable resources that can enhance and strengthen a new partnership and lead to success.
alone.” It may seem obvious but I’ve talked to many people who got into business this way and were surprised it didn’t turn out so well. There were two brothers who started a business only to learn that one of the brothers didn’t want to contribute and became a burden rather than an asset to the business. I had experience with a new partner who, as it turned out, allegedly owed a couple million dollars in back taxes, and had such a poor credit rating it would have destroyed our ability to ever borrow money, severely jeopardizing our business. A huge red flag that forced me to run the other way and one I should have caught ahead of the deal, not after it was signed. If someone says things such as “I hate contracts and prefer a handshake deal” or “I always pay cash” it may be because he gets sued a lot and has no credit. In my case I was lucky that I was able to document evidence of bad faith and force a sale to get out but often such failures in partnerships destroy the business and the jobs of all those involved. There are also the highly successful business partnerships that seem to be going great and just disintegrate. Business success often comes with financial reward. Some words of wisdom that have
stuck with me are a paraphrase from Henry Ford; “Money doesn’t define a person, it reveals them”. A seemingly great business partner can get greedy and as in the Russian proverb famously quoted by Ronald Reagan, “trust but verify” requires you to stay vigilant and establish guardrails when the money starts coming in. Solid bookkeeping and accounting by third parties, robust operating agreements, and systems of internal checks are crucial to keeping things on track as you grow. Some of the red flags I’ve had the experience of learning about are very similar to the common signs of a failing marriage. A partner who is gradually becoming distant, less engaged socially with you and appears to be building alliances and walls within the organization. When your business partner is adamant about replacing good and loyal employees with people obviously less qualified or set on keeping employees who are troublemakers, overpaid, underqualified, or just plain disruptive it is very likely that they are trying to build an alliance against you. Look out for gaslighting and the spread of rumors that are leading to dissatisfaction among employees.
Some of the wrong reasons to take on a partner include
feeling responsible for a person, sympathy, offering to help, or just a sense of not wanting “to go it
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Look out for nepotism. In such situations the partner may also be trying to drive out good employees as part of these efforts.
your partner is evasive with the finances, it’s a good bet something is wrong, and you need to find out. After all, it’s your business and you can be held responsible for things your partner does even if you don’t know about them. What can you do if you find yourself in this situation? The best advice I’ve heard, from an experienced matrimonial attorney, is don’t fight at their level. Good business attorneys will likely offer the same advice. You’re dealing with someone who’s already made the decision to be dishonest with you and maybe even emotionally bent on hurting you in any way they can. Don’t give them the opportunity to damage you or build a case against you. Once a partnership goes bad you’re not likely to fix it or patch it up and your best bet is to get out as fast and as clean as possible and move on. That’s not to say give up and let them have your money and business, but if you fight at their level, you will both lose and there may be neither money nor a business when the smoke settles. It’s not about them losing or you
winning, it’s about you getting out with what you can. Time will eventually catch up with dishonest people. The best way to protect yourself from a bad partnership is don’t get into one unless there is a clear benefit for all parties involved. Establish contracts and policies that define how the business will be managed and especially how the finances will be accounted for. Do this early rather than later to avoid allowing the opportunity for dishonesty. Don’t allow one partner to establish a culture of loyalty that conflicts with the interests of the organization and the business. Keep records
Always pay attention to the finances even if it’s not your
primary job within the partnership. Just like a marriage, all members of a partnership should demand equal access to financial reports and bank statements. Spend some time and go over them regularly and even hire an outside accounting firm to assist you if you need help. Look out for sloppy accounting and other common signs of poor financial recordkeeping. If it’s just honest mistakes your partner will be open to hiring an outside firm to clean up the books. After all, if your ultimate goal is to sell the business you will need good record keeping to accomplish that. I was in a successful business partnership on the cusp of a lucrative buy-out only to have the other partner sabotage the deal for unknown reasons. In hindsight it was likely he was concerned about the uncovering of financial misdeeds during the buyout. Just like a marriage, if
of everything and document everything in case you ever
need them later. Above all else remember there is no room for narcissism in business, keep egos checked and remember you are all in this for a common goal. Stay on top of each other and remember that once the relationship disintegrates, just like a marriage, it’s probably too late to salvage it. Shift gears toward recovery and look forward, not backward.
Paul Woodford has been in corporate aviation and the private aircraft charter business for thirty years as a pilot, instructor, manager, and business owner. Paul has flown in all 50 states, five continents, and over three oceans. Paul has started two successful charter management companies and most recently is the CEO of Legacy Jets in Scottsdale, Arizona and West Palm Beach, Florida.
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Legacy Quarterly
www.LegacyJetServices.com
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