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Multigenerational wealth creation involves so much more than just capital accumulation.
The most successful families cultivate and collect values, stories, knowledge and resources to pass on to the next generation.
The systems and processes to do this are very intentional.
The most successful families cultivate and collect values, stories, knowledge and resources to pass on to the next generation.
The systems and processes to do this are very intentional.
Family constitutions, annual meetings, shared assets, education funds, annual letters and family offices are all examples of how the Business of Family operates successfully.
Very few do the work and even fewer make it beyond the 3rd generation.
Very few do the work and even fewer make it beyond the 3rd generation.
Playing the long game encourages deeper relationships, better decision making and sustainable growth.
It’s not “one and done” or “growth at all costs” as is so popular in tech circles today.
It’s not “one and done” or “growth at all costs” as is so popular in tech circles today.
I continue to be inspired by families and businesses that build wealth across generations.
I’ve been fortunate enough to meet some extremely successful families in my travels and gleaned insights from how each are shaping their legacy.
I’ve been fortunate enough to meet some extremely successful families in my travels and gleaned insights from how each are shaping their legacy.
Many will tell you that it’s the human, intellectual and spiritual capital that makes them successful for generations & that financial capital is simply a function of their success in these areas.
Values, beliefs, knowledge and networks are the building blocks of wealth.
Values, beliefs, knowledge and networks are the building blocks of wealth.
Membership to the Henokiens Association is based on company longevity (minimum 200 years) and permanence (the family must be the owner or majority shareholder and still manage the company).
There are 48 members today. https://www.henokiens.com/content.php?id=4&lg=en&utm_campaign=The%20Business%20of%20Family&utm_medium=email&utm_source=Revue%20newsletter
There are 48 members today. https://www.henokiens.com/content.php?id=4&lg=en&utm_campaign=The%20Business%20of%20Family&utm_medium=email&utm_source=Revue%20newsletter
If multigenerational families and businesses fascinate you too, sign up to my newsletter “The Business of Family” launching 1 July 2020 and follow my passion project exploring this topic.
The first issue goes out in 12 hours so please sign up now.
http://newsletter.mikeboyd.com.au/
The first issue goes out in 12 hours so please sign up now.
http://newsletter.mikeboyd.com.au/
