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Covid Challenges & Opportunities

COVID Challenges & Opportunities

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

[Reprinted with permission] Different places around the world continue to deal with the challenges of COVID in different ways. Whether they are experiencing a second wave, or varying degrees of opening up, many of the challenges and opportunities are still present. The issues that have arisen through the pandemic are primal, and place the fragility of life in sharp relief. Our instinctive responses also also primal: fight/flight/freeze, and we can remain locked in such states…

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Gender Equity in Family Business

Gender Equity in Family Wealth

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

There are several good reasons why family enterprises should care about making active efforts toward gender equity. If they want family members to be involved, their talent pool is limited, so why waste 50% of their potential? A more diverse leadership team will reap the same benefits that have been noted in the non-family business world. Finally, family cooperation, collaboration and harmony are important to families, so excluding women from paths to leadership can lead…

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Raising Heirs

Raising Heirs

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

This is the conundrum of wealth creator parents: they want to raise children to value the hard work that helped them create wealth, but at the same time pass them wealth that means they never need to work. Talk about mixed messages!  In order to actually do this, one would have to live well below one’s means, and/or withhold access for children to the family wealth so that they can live it ‘tough’ for a…

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Family Philanthropy

Family Philanthropy

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

Family philanthropy is the act of a collective rather than an individual. It is rooted in the values of a family, carrying forward its name and legacy, and engaging its members. That makes it about a lot more than just writing cheques. It needs people from multiple generations working together, and that needs to be driven by a purpose and strategy. Two important surveys indicate that this is not happening effectively. According to a global…

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Family Business Challenges

Family Business Challenges

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

Studying failure is far better than studying success because it’s easier to avoid doing the wrong things than mimic the good that others are doing. Here are some of the ways things can go awry: Families and businesses don’t grow at the same rate. From the third (and sometimes second) generation onwards, the family often grows faster than the business. What happens if many family members look to the business for employment or supplementary income?…

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Family Business Governance

Family Business Governance

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

In times of chaos, economic uncertainty, and the crushing burden to lead the family’s assets out of the fire, the need for governance grows even stronger.  Too many families consider family governance as a side dish – a pesky bug that wants to take away all the attention and resources from the main priorities which are revenues and operations. There is also an emotional side to effective family governance which is often overlooked by the…

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