Richard Canfield explains family banking principles using a swimming-pool filtration metaphor: money flows into a family 'banking business' and must be maintained, cleaned, and occasionally 'shocked' through family meetings to enforce accountability (e.g., addressing missed loan repayments). The excerpt emphasizes routine maintenance and conversations to keep the pooled funds usable and well-managed.
Chapters
Money that's coming in and landing on the books of the banking business. Then there's the containment facility, that containment facility and it's recycling that capacity. So you got to clean it every once in a while. You got to make adjustments, you got to make tweaks, you got to modify, you got to shock it every once in a while. That might be a family banking meeting where you bring everyone around the fire. You have a conversation about hey little Sally, I know that you didn't make some loan repayments recently so we're going to shock the system and have a good discussion about that. You're keeping everyone accountable to making sure that their managing and maintenancing that pool of money very effectively. Even if you think about a swimming pool as a big giant filtration system, a lot of it, if you don't clean the filters, if you don't go in and maintenance that pool, it's going to be shut down and nobody can use it.