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Principia Familia

Principia Familia

By Articles, Familosophy, Featured Posts, LinkedIn, repostNo Comments

I’m thrilled to have joined the experts panel at &Simple, who are focussed on helping FOs and their service providers professionalise and be future-ready through insights, services and data. In my first insight published on their platform, I articulate three principles of good family governance: 1. The stewardship (rather than ownership) mindset: family wealth does not belong to any individual, rather to the family – both present and future. The people who happen to be responsible for it at any time…

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Conflict in Family Business

Conflict in Family Business

By Articles, Familosophy, Featured Posts, LinkedIn, repostNo Comments

How we deal with conflict in family business is totally different to a regular workplace. Why? In family business, we wear multiple hats: family member, co-worker, owner, and those roles can lead to conflicts of interests. The work hierarchy is overlaid by the family hierarchy, and that can lead to … conflicts of interests. And unlike a regular workplace, it’s not quite so easy to just quit for another job. By their nature, families and…

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Ambition vs Entitlement

Ambition vs Entitlement

By Articles, Familosophy, Featured Posts, LinkedIn, originalNo Comments

James Clear famously said: “Ambition is when you expect yourself to close the gap between what you have and what you want. Entitlement is when you expect others to close the gap between what you have and what you want.” Not everyone is ambitious – some people are just happy with what they have or don’t have a large gap between what they have and what they want. And that’s perfectly fine. But what of…

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Wealth Guilt 2.0 

By Articles, Familosophy, Featured Posts, LinkedIn, originalNo Comments

In society, the wealthy often get a bad rap. If you’re a wealth creator, people may view the wealth you have created as coming at the expense of someone else. They may rally against “inequality” – that some people have (a lot) more than others. The fact is that the gap between wealthy and poor is increasing – each one is a reinforcing loop so the rich tend to get richer and the poor get…

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Turning Succession Upside Down

Turning Succession Upside Down

By Articles, Familosophy, Featured Posts, LinkedIn, repostNo Comments

The headlines are everywhere – a high percentage of family businesses have no formal succession plan – and then the story launches into the usual tropes about estate planning, life insurance, choosing a successor, etc. But maybe we should be turning this upside down? After all, by necessity, a family business succession involves two generations – the incumbent and the rising – and so much of the thinking about succession focusses on (a) the perspective of the…

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Spirit of Entrepreneurial Legacy

The Spirit of Entrepreneurial Legacy

By Articles, Familosophy, Featured Posts, LinkedIn, repostNo Comments

Most wealth is created through entrepreneurship. When wealth creators think about the legacy they leave to future generations, the most common thing that comes to mind is the wealth itself, which is the product of entrepreneurial activity. But what of the entrepreneurial spirit itself? Gates, Bezos, Musk and others received support from their families in the early stages of their ventures. Family members who are so inclined can more readily access seed capital to fund their ideas….

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