Following on from my previous post about how to define a family business, I remembered the moment when we became a family business.
Of course, bearing in mind my comments about the difficulty in finding a common definition of the term, the moment we “became” a family business was more in our minds than following a specific event that put our business within such a definition. Read more
In my experience, spanning over 20 years of working in the property investment industry, I have observed recurring problems in the process of handing over real estate assets to the next generation. The list of the top 5 mistakes identified are as follows: Read more
The Four Dimensions to Consider in Family Governance and Succession
Substantial writing has been done about the three dimensions “Family”, “Business” and “Ownership” when setting up a family governance structure.
However, the prevailing Three-Circle Model of the Family Business System as developed at Harvard Business School by Renato Tagiuri and John Davis in the 1970s is not entirely complete. Read more
Continuing on from my last blogpost, I want to expand on the responsibility theme.
As outlined in the previous blogpost, I strongly believe it is crucial to give your wealth a purpose and a meaning, I also touched on the responsibility that comes along with controlling wealth.
This responsibility can best be understood if you look at yourself as a steward who takes care of the wealth on behalf of others, such as future generations. It becomes even more plastic when you look at our responsibility as humankind to take care of the planet we live on. Read more
Let us assume you have run a successful business for a number of years or have come into an inheritance and enjoy a significant level of wealth at your disposal. You can afford a good lifestyle and have accumulated all the properties, cars, boats and jets that you can possibly enjoy.
If you do not have direct successors in place to take over or you think they are not worthy of your wealth or you think your wealth will spoil them, you may start asking yourself some serious questions. At some point, you are likely to come up against the question that keeps nagging in the back of your mind: “What does it all mean?”.
