Skip to main content
Category

LinkedIn

Seeking Empathy - Family Business

Seeking Empathy

By Articles, Familosophy, Featured Posts, LinkedIn, original No Comments

I have a lot of empathy for Tom Brady. While not in his ‘league’ on several fronts, I can fully appreciate his exasperation at the challenges of teaching children with wealth to understand “the real world”. Anyone facing these and similar challenges deserves to be taken seriously, and to get the support and empathy they need to deal with the issues. There’s just one small catch. People who don’t have or genuinely understand the experience…

Read More
wealthy guilt and shame

Wealthy Guilt & Shame

By Articles, Blog, Familosophy, Featured Posts, LinkedIn, repost No Comments

Wealthy people are a soft target at the best of times. The media revels in sensational stories about wealthy families, especially when things go wrong. And if that wasn’t enough, neo-socialists in the US preach redistribution and question whether the world should have billionaires. The emerging “wealth minimisation” movement encourages inheritors to redistribute “excess wealth” for the betterment of society. In some cases, this is about making up for the “harm” done by the wealth…

Read More
Family Business Purpose

Family Business Purpose

By Articles, Familosophy, Featured Posts, LinkedIn, repost No Comments

Family business has positives and negatives – our aim should be leverage the positives and seek to mitigate the negatives. One important distinguishing feature of family businesses is that they can embody a sense of purpose. The original purpose of the business founder may have been wealth creation. However, as the business evolves and additional family members join, it’s an opportunity for the family as a group to discuss and articulate their collective values and…

Read More
3-generation trope family business

The 3-Generation Trope

By Articles, Familosophy, Featured Posts, LinkedIn, repost No Comments

It’s a most quoted statistic – “just 13% of family businesses survive the third generation” – and it has finally been challenged. It comes from a single study of US manufacturing companies in the 1980s, and for some reason it has stuck and become almost axiomatic. But it is deeply flawed. Most importantly, it never compared family businesses to non-family businesses (family businesses on average do last longer), and it also never considered the reasons why those…

Read More
The Future Female

The future female

By Articles, Familosophy, Featured Posts, LinkedIn, repost No Comments

Research has shown that in HNW families, daughters were rarely encouraged nor received support to pursue entrepreneurship education. Entrepreneurial families often prepare their daughters and sons differently for their careers. Cultural factors and their associated gender biases may result in the problem being far more pronounced. Things are changing. Some 82 per cent of women from wealthy families expect to inherit substantial wealth over the next 20 years, but 41 per cent of women are…

Read More
why communication is important

Why communication is important

By Articles, Blog, Familosophy, Featured Posts, LinkedIn, repost No Comments

Research has shown that 60 per cent of failed intergenerational family wealth transition are due to problems with trust or communication. Communication isn’t important in families. It is everything. If a family cannot communicate, it cannot function as a group. It’s that simple. What does poor communication look like? An absence or lack of communication (e.g. “it’s none of their business”, “they don’t need to know”, “we know what is best for them”) is patronising, infantilising,…

Read More
Cultivating Entrepreneurship

Cultivating Entrepreneurship

By Articles, Familosophy, Featured Posts, LinkedIn, repost No Comments

Not every entrepreneurship story is “rags to riches”. Many high-flying entrepreneurs came from from upper-middle-class families. While they don’t owe their success entirely to mom and dad, without their parents’ help, be it financial or otherwise, they may have never gotten their ventures off the ground. Research has shown that 75% of entrepreneurs from 48 countries said that their family was involved in starting their businesses. Family money and background plays a critical role when it…

Read More
non-blood-family-business

Family Business – blood non-blood

By Articles, Familosophy, Featured Posts, LinkedIn, repost No Comments

Unless your family business is a “mom & pop corner store” (which is more akin to owning a job than owning a business anyway), you will need to have a mix of ‘blood’ and ‘non-blood’ people working in it. As any business matures and grows, there becomes a need for professionalisation and systemisation. While owners may put a high value on the people in the business (especially family), the true value created in any business…

Read More
The problem with Boomers

The Problem with Boomers

By Articles, Familosophy, Featured Posts, LinkedIn, repost No Comments

A while back this viral meme swept the internet. “OK, Boomer” is/was the response of younger people to complaints by older people about their behaviour and attitudes. Readers of this newsletter may know my attitude to the whole “generation wars” narrative – it’s a load of crap and we shouldn’t get caught up in it. Older people have been complaining about younger people for as long as there have been multiple generations on this earth,…

Read More
wealth and happiness

Wealth and Happiness

By Articles, Familosophy, Featured Posts, In The News, LinkedIn, original No Comments

Q: If the world’s two richest men cannot keep their wives happy, what hope do we have? A: No, that’s not a real question – it’s a meme that circulated following the news of the divorce of Bill & Melinda Gates. Many people with wealth realise that money can’t make a wife (or anyone) happy, but that doesn’t stop them trying. In business, sometimes we decide to “throwing money at a problem”. That means directing significant resources…

Read More