The Family Business Voice

Tharawat Magazine

More than half of all businesses globally are family-owned or operated. They are cornerstones of prosperity; their contributions to job creation and global GDP are crucial. Their stories, a source of inspiration for entrepreneurs everywhere, deserve to be told. The Family Business Voice provides the podcast for family business owners, experts and entrepreneurs to share their successes and challenges with a global audience. read less
Start Here
<strong>How can family enterprises grow their philanthropic impact?</strong>
04-05-2023
How can family enterprises grow their philanthropic impact?
Traditionally, family enterprises focused their philanthropic efforts in the communities close to their operations, where they could generate the greatest impact. Today, there’s an abundance of worthy global causes all competing for their attention. To maximise their impact, families need to align on the issues important to them while also addressing the challenges of harmonising and orchestrating philanthropic strategies in a fast-changing world. On this episode, Dr Malgorzata Smulowitz, Research Fellow, and Dr Peter Vogel, Professor of Family Business and Entrepreneurship at the IMD Global Family Business Center, discuss the findings in their study, “Navigating your family’s philanthropic future across generations”, and how it suggests a real need for families to transform, organise, and codify their philanthropic activities in a rapidly changing world. - Considered a soft topic by many, secondary to the running of a company, philanthropy often emerges as a challenge for families, especially when philanthropic activities are an integral part of the family system. The emotion that drives charitable efforts makes uniting families around a common cause complex. - The innovative and entrepreneurial spirit that drives the business activities of family firms can complement their philanthropic efforts, generating new opportunities and maximising the scale of their resources. - Communication is key if families are going to align their philanthropic goals. The engagement itself can also be rewarding for family members, reshaping individual perceptions and testing rivalries. For next generation family members, finding a supporter respected within the family is often an important first step to initiating meaningful change in the family’s philanthropy program. Listen and Subscribe on Spotify, Apple Podcasts, Google Podcasts, Stitcher, TuneIn, Amazon and YouTube. View the IMD study, “Navigating your family’s philanthropic future across generations”.
<strong>How can family enterprises grow their philanthropic impact?</strong>
04-05-2023
How can family enterprises grow their philanthropic impact?
Traditionally, family enterprises focused their philanthropic efforts in the communities close to their operations, where they could generate the greatest impact. Today, there’s an abundance of worthy global causes all competing for their attention. To maximise their impact, families need to align on the issues important to them while also addressing the challenges of harmonising and orchestrating philanthropic strategies in a fast-changing world. On this episode, Dr Malgorzata Smulowitz, Research Fellow, and Dr Peter Vogel, Professor of Family Business and Entrepreneurship at the IMD Global Family Business Center, discuss the findings in their study, “Navigating your family’s philanthropic future across generations”, and how it suggests a real need for families to transform, organise, and codify their philanthropic activities in a rapidly changing world. - Considered a soft topic by many, secondary to the running of a company, philanthropy often emerges as a challenge for families, especially when philanthropic activities are an integral part of the family system. The emotion that drives charitable efforts makes uniting families around a common cause complex. - The innovative and entrepreneurial spirit that drives the business activities of family firms can complement their philanthropic efforts, generating new opportunities and maximising the scale of their resources. - Communication is key if families are going to align their philanthropic goals. The engagement itself can also be rewarding for family members, reshaping individual perceptions and testing rivalries. For next generation family members, finding a supporter respected within the family is often an important first step to initiating meaningful change in the family’s philanthropy program. Listen and Subscribe on Spotify, Apple Podcasts, Google Podcasts, Stitcher, TuneIn, Amazon and YouTube. View the IMD study, “Navigating your family’s philanthropic future across generations”.
<strong>What does it take to scale the family business?</strong>
20-04-2023
What does it take to scale the family business?
On this episode of The Family Business Voice, Ryan Margolin talks about the entrepreneurial path that led him to become CEO of Professional Hair Labs, a global leader in cosmetic bonding. Growing up with business-owning parents helped influence Ryan’s pursuit of personal and professional development, which continued after relaunching his father’s business and shaped the strategies he used to expand it. Ryan discusses the process that led him to alter the trajectory of the business and the lessons learned along the way by its family of stakeholders. Ryan also talks about how following his core principles informed his approach to leadership and why that is still so important to him. -Failing is as much a part of the entrepreneurial experience as succeeding. Often moving forward means examining failures from different perspectives, and empathy is the key to understanding those diverse points of view. -Ego can act as a barrier to greater growth as an entrepreneur. Realising you need help to achieve your goals, especially as those goals shift upward, is an important step to taking your business to the next level. -For many people, the business journey is reflected in direct relation and proportion to the effort they’re willing to put into figuring it out. The difference between finding the right direction and staying lost is sometimes simply a failure of commitment. Listen and Subscribe on Spotify, Apple Podcasts, Google Podcasts, Stitcher, TuneIn, Amazon and YouTube.
How can leaders enable change in a legacy business?
10-03-2023
How can leaders enable change in a legacy business?
On this episode of The Family Business Voice, Laurette Rondenet discusses her journey with Edlong, a family business and leading innovator in the food-flavourings industry. Laurette has been Edlong’s principal owner, President and CEO since 2012, making her the first and only woman to own a food flavouring company in the world. She sits on the board of several national and international business organisations and currently serves as the Vice President & Secretary of the Flavor and Extract Manufacturers Association of the United States. Laurette talks to us about what it takes to build a culture of innovation in a legacy business, the role of family dynamics and the journey towards defining her own leadership style. - Fighting imposter syndrome and acknowledging your true power is the first step in owning your legacy. Trust that you own your accomplishments. - The next generation can’t be their parents; they have to find their own voice and approach to leadership, which is difficult. - Create an atmosphere that engenders authentic belonging. A culture where people can be themselves means that people will find their own way to success both for themselves and for the business. Listen and Subscribe on Spotify, Apple Podcasts, Google Podcasts, Stitcher, TuneIn, Amazon and YouTube.
How can family enterprises redefine success with each generation?
07-02-2023
How can family enterprises redefine success with each generation?
On this episode of the Family Business Voice, author, consultant, and business coach Jonathan Goldhill speaks about the unique emotional and psychological hurdles many next-generation business owners confront. Jonathan and Ramia also discuss the importance of redefining how success is measured for the next-gen leaders of family enterprises, and the paradox they face when attempting to introduce disruption to long-standing business models that covet stability in pursuit of longevity. -Many next-gens feel the burden associated with believing they are not worthy enough compared to previous generations, which can result in a form of “imposter syndrome”. But the unique circumstances that contributed to the success of earlier generations must be taken into account. Next-gen business leaders must realise that contexts change and redefine what constitutes success for them using their own metrics. -Where previous generations were driven by a hunger to survive, next-gens need to find their own motivation, such as increasing profitability, bettering processes, improving culture or introducing transformative technology. -Creating a “sticky” environment that encourages employees to stay with the business is potentially critical for business successors, but next-gen’s should also realise that some changeover is healthy. There is a Darwinian process for every business in transition. It may be difficult, but not everyone is well suited to continue on a company’s journey when new leadership takes the reins. Listen and Subscribe on Spotify, Apple Podcasts, Google Podcasts, Stitcher, TuneIn, Amazon and YouTube.
How can families grow, manage, and safeguard their long-term wealth?
20-01-2023
How can families grow, manage, and safeguard their long-term wealth?
On this episode of The Family Business Voice, François de Visscher talks about the important shift in mindset that can help families grow, manage, and safeguard their long-term wealth. Francois and Ramia also discuss the core values and other intangibles that families should consider when defining their wealth, how family members can support the transition from business owners to wealth owners, and the psychological impediments that get in the way. François de Visscher is the founder of de Visscher Advisors, one of the world’s leading independent financial consulting firms for family businesses owners. He’s also the Co-founder of FODIS, which specialises in direct investing for family offices. Read the full article here. -Families should take a ‘portfolio view’ of their wealth using a green, yellow, and red labelling system identifying activities that should continue, change, or halt, given current market or economic conditions. -The assets in a portfolio should work toward the goal of stability, growth, or agility depending on the opportunities a family wishes to leverage or the uncertainty it hopes to sidestep. -Risk is an important consideration when families are determining a course of action, but avoiding risk altogether can leave families just as exposed — stuck in traditional models that will inevitably become obsolete. Instead, families should stay close to their core competencies when approaching risk, fully understanding why it’s necessary and how it will lead to advancement. Listen and Subscribe on Spotify, Apple Podcasts, Google Podcasts, Stitcher, TuneIn, Amazon and YouTube.
How does a lifetime of work become a legacy?
14-12-2022
How does a lifetime of work become a legacy?
On this episode of the Family Business Voice, Nike Anani discusses her new book, Lifetime to Legacy, and how it can help business families navigate succession. Nike and Ramia explore the importance of relational values to family business continuity and discuss techniques that founders and next-gens can use to facilitate the transfer process. - Founders typically focus on the technical and legal side of transition, but building bridges and relationships within their organisation is just as important in preparing the next generation. - Different cultures perceive the family structure within their unique and sometimes rigid context. Next-gens, exposed to Western ideas of independence and autonomy through school or travel, can clash with incumbent generations when they return home. Working through these complexities takes understanding and engagement from both sides. - Data suggests that most unsuccessful family business transfers are due to a lack of trust and communication, not through failed strategy or technical planning. Next-gen members looking to bridge the generational divide should start small with open discussions that include siblings and other family members. First-gen members can take a similar approach, speaking with their spouses about the kind of legacy they wish to leave. The most compelling legacies revolve around the collective family and not any single individual. Listen and Subscribe on Spotify, Apple Podcasts, Google Podcasts, Stitcher, TuneIn, Amazon and YouTube.
What is it like to be the spouse of a family business owner?
05-12-2022
What is it like to be the spouse of a family business owner?
On this episode of The Family Business Voice, Sara Stern discusses her new work, Married to the Family Business: a Handbook for Spouses of Family Business Owners. Sara Stern is a speaker, author and consultant who decided to write a handbook for spouses of family business owners because of the apparent vacuum of resources out there for them. Though they might not sit on the board or hold an operational role in the business, spouses are at the centre of it all. They are often influential in decisions and are subject to some unique stressors because of the ambiguity of their roles.  - Spouses often get caught in triangles as the go-between for people that wish to talk to their partners, which is almost always a bad idea as it conflates family relationships with business relationships. Maintain strong boundaries to keep these areas separate. - It's best for partners to provide support without taking sides. Try "That sounds hard. What would be an ideal outcome?" rather than "That sounds hard. Your sister is really difficult." - Spouses need to understand their 'why' and have firm boundaries around what they're willing to do. At the same time, they need to understand their partner's 'why' and decide what that means for their relationship. For example, is a call every night at dinner acceptable? If it isn't, those expectations need to be voiced and respected. Listen and Subscribe on Spotify, Apple Podcasts, Google Podcasts, Stitcher, TuneIn, Amazon and YouTube.
How can a family business win the long game?
28-10-2022
How can a family business win the long game?
On this episode of the Family Business Voice, John Giovannini speaks with Ramia about having to plan 15 years into the future because of long production cycles, the importance of holding on to biodiversity in the caviar industry and how his father's dream developed over time. Read the full interactive article here. - As it takes 10-15 years for a sturgeon fingerling to grow large enough to produce caviar, the Giovannini family have to plan far into the future. An operational reality that John says would be impossible without entrepreneurial self-belief and a positive outlook. - Downturn and opportunity often go hand in hand. Demand for caviar actually went up over the pandemic, which, with a limited supply of caviar dictated by the spawning season ten years before, means that Ars Italica's product is worth more than ever. - According to John, the way that Ars Italica approaches biodiversity, spawning natural species even if it means lower yields and a longer production cycle compared to hybridized variants, should be applied across the food chain to guarantee more nutritious products that are healthy for us and the environment. Listen and Subscribe on Spotify, Apple Podcasts, Google Podcasts, Stitcher, TuneIn, Amazon and YouTube.
How can successors grow into their legacy?
14-10-2022
How can successors grow into their legacy?
On this episode of The Family Business Voice, Dr Jamie Weiner and Russ Haworth speak with Ramia about their new book, The Quest for Legitimacy, which explores the unique struggle of those growing up in the family business. Dr Jamie Weiner’s experience as a clinical psychologist gives him insight into the complex dynamics that exist between family members. Since 2018, he’s devoted himself to qualitative research on the rising generation of prominent family businesses, culminating in The Quest for Legitimacy model.  Russ Haworth is a UK based family business consultant who first entered the field nearly 20 years ago as a financial planner and wealth manager. Russ is also the host of The Family Business Podcast.  - Rising gen family members often lack the sense that they belong in the position they find themselves in. Getting there requires awareness, introspection and exploration. - Being part of the rising gen isn’t necessarily a product of age. Look at the new King Charles III, for example, who was a rising gen until 73. - A rising gen’s path is often defined by transition points, which can be the death of a family member, the sale of a key company, or even something subtler, like a conversation. Listen and Subscribe on Spotify, Apple Podcasts, Google Podcasts, Stitcher, TuneIn, Amazon and YouTube.
From family enterprise to family office - How does Tavares de Melo maintain family cohesion?
06-10-2022
From family enterprise to family office - How does Tavares de Melo maintain family cohesion?
On this episode of The Family Business Voice, Maya Prabhu and Dr Dennis Jaffe speak with Ramia about their work on the Tavares de Melo case study, which was published by Tharawat Magazine and written with Carolina Cintra. Read the full interactive article here: https://www.tharawat-magazine.com/stories/tavares-de-melo-5th-generation-family-enterprise/ Dennis Jaffe is a family business consultant and acclaimed author of books in the field. He is based in San Francisco.  Maya Prabhu, based in London, leads J.P. Morgan Private Bank’s Wealth Advisory practice for the EMEA region and the International Family Governance practice. - Tavares de Melo’s story is one of constant reinvention — an instructive example for family businesses that must deal with changing contexts, personnel, and dynamics over time. - After 90 years in business, Tavares de Melo sold its physical assets and became a family office. Their work to keep the extended family engaged and unified since then is a lesson in governance and organisation. Listen and Subscribe on Spotify, Apple Podcasts, Google Podcasts, Stitcher, TuneIn, Amazon and YouTube.
What Enables Family Entrepreneurship Over Generations?
27-06-2022
What Enables Family Entrepreneurship Over Generations?
In this episode of The Family Business Voice, Tom McGinness and Andrea Calabró discuss the findings from KPMG Private Enterprise and the STEP Project Global Consortium's Annual Report, which surveyed 2,439 CEOs and other leaders from top family businesses across 70 countries and territories. Using this extensive data set, the report outlines three success factors that underpin multigenerational family success around the world. Tom McGinness is the Global Leader of Family Business for KPMG Private Enterprise and an Experienced Senior Partner at KPMG. Andrea Calabró is the Global Academic Director, STEP Project Global Consortium. - The entrepreneurial orientation of upcoming leaders — a quality that allows them to take calculated risks that benefit the growth and innovation of the business — is a learned behaviour that can be developed by letting next-gens use small amounts of family capital to explore their entrepreneurial instincts from a young age. - Unlike their non-family peers, family enterprises also measure their success through their socio-emotional wealth. This factor, which speaks to the intangible assets, including relationships, that an organisation holds, enables better decision-making and holistic, long-term strategising. - With such strong ties to the organisation, family business members tend to exhibit motivational and transformational styles of leadership, which, coupled with their entrepreneurial orientation and emphasis on socio-emotional wealth, can contribute to better performance. Read KPMG Private Enterprise and STEP Project Global Consortium's Annual Report "The Regenerative Power of Family Businesses" here. Listen and Subscribe on Spotify, Apple Podcasts, Google Podcasts, Stitcher, TuneIn, Amazon and YouTube.
How Different is the Next Generation of the Family Enterprise?
19-05-2022
How Different is the Next Generation of the Family Enterprise?
On this episode of The Family Business Voice, we speak to Neus Feliu, Partner at Lansberg Gersick Advisors, about her work on the Family Enterprise Global Survey on Generational Perspectives. This important study indicates 'stress' areas that family businesses might want to focus on, while also breaking down stereotypes about generational perspectives in family enterprises. Next-gens and current leaders might not be as different as we may think, although there are some important distinctions that are worth paying attention to. Read the full survey here. - Younger generations often think that senior generations don’t have the dynamism to undertake the change necessary to move forward, and trying to avoid conflict both generations avoid the subject, which can set this misconception in stone.  - Next-gens and their elders often disagree on the skills necessary to lead, which is significant because families must find common ground if they are to provide a structured road map to develop next-gens within the organisation. - Interestingly, both generations are generally in alignment when it comes to sustainability. - The survey shows that men and women have different priorities within the business. Women are generally more interested in sustainability and family, while being less aspirational about executive positions, which belies the fact that there still exists a level of discrimination that must be dealt with before family business can truly grow as equitable organisations. Listen and Subscribe on Spotify, Apple Podcasts, Google Podcasts, Stitcher, TuneIn, Amazon and YouTube.
How Can You Uncover and Address Addiction in the Family?
25-04-2022
How Can You Uncover and Address Addiction in the Family?
On this episode of The Family Business Voice, we spoke to Jonathan Edgeley, the Founder of Montrose Advisory, about dealing with addiction in the family enterprise. Jonathan grew up in a family enterprise environment and as a young man, was outwardly successful while at the same time struggling with addiction and other mental health issues. Now, Jonathan uses those experiences to help others on their lifelong journey of recovery. - There is still a stigma associated with mental health in the family business. People are more willing to talk about it now than ever but much more work is needed. - Family businesses are generally very private, and this tendency to protect reputation can work against those who are suffering. Part of the problem lies in that people see what they want to see. - Blame or shame has no part in the recovery process. Instead, family members must approach the situation with love and compassion, while at the same time understanding how their behaviour might enable another’s addiction and ceasing that behaviour. - Acknowledgement, acceptance and action are fundamental to the healing process. Family members around those who need help with addiction also need to go through a process of recovery so that everyone is on the same page. Listen and Subscribe on Spotify, Apple Podcasts, Google Podcasts, Stitcher, TuneIn and YouTube.
Editoriale Domus: How did this legacy publishing house survive industry disruption?
24-03-2022
Editoriale Domus: How did this legacy publishing house survive industry disruption?
On this episode of the Family Business Voice, we speak with Dr Sofia Bordone, owner and CEO of legacy publishing house Editoriale Domus. Sofia works closely with her mother, Giovanna, to bring their grandfather's business to new heights in the face of a heavily disrupted publishing industry. We talk to Sofia about the mindset required to enable innovation as well as Editoriale Domus’ celebrated history, her experience as a woman in publishing, and how she maintains influence in the age of social media. - Sofia's positivity allows her to see change as an opportunity. Editoriale Domus has changed time and again over the last 90 years and innovation remains at the core of the family publisher's outlook. - According to Sofia, there are distinct advantages to family ownership, especially when it comes to quick decision-making. As both CEO and owner, fewer obstacles stand in the way when the situation necessitates speed. - For women entering key positions in the family business, Sofia's advice is: be yourself. Act, dress, and think like a woman because that’s who you are, and it’s one of the positive attributes you bring to a company. Diversity adds value and brings power to any organisation. Listen and Subscribe on Spotify, Apple Podcasts, Google Podcasts, Stitcher, TuneIn and YouTube.
How Did This Family Transform a Passion for Peanuts into a Multigenerational Legacy?
15-03-2022
How Did This Family Transform a Passion for Peanuts into a Multigenerational Legacy?
On this episode of the Family Business Voice Ramia speaks with Marshall Rabil, third generation owner and Marketing Director of Hubs Peanuts. See the full interactive article here. Marshall discusses what his family’s legacy, started by his grandmother, means to him, why peanuts are in fact a superfood and why his vision for the future centres around community. - Community is at the core of Hubs Peanuts. The way Marshall sees it, their community helped his grandparents Dot and HJ build the business, so it’s their responsibility to give back. - Hubs Peanuts has an incentivised volunteer program for it’s employees called Hubs Hearts, which allows them to choose the causes they donate their time to, because volunteer service doesn’t count for anything if it’s not from the heart. - Hubs Peanuts also works closely with their peanut farmers, and has even started a single-origin product line that is partly inspired by Marshall’s experiences in the development sector, where he saw the value of single-origin coffee and cacao initiatives. Listen and Subscribe on Spotify, Apple Podcasts, Google Podcasts, Stitcher, TuneIn and YouTube.
What can we Learn from the World's 500 Largest Family Businesses?
11-03-2022
What can we Learn from the World's 500 Largest Family Businesses?
More than half of all companies globally are family owned or operated, contributing to 70% of the world's GDP and accounting for 65% of jobs. And of these family businesses, the 500 largest represent the third-largest global economic contribution and employ more than 24 million people worldwide. On this episode of the Family Business Voice, Helena Robertsson, EY’s Global Family Enterprise and Family Office Leader, discusses findings and insights from the EY 2021 Family Business Index, which illustrates the importance of the 500 largest family businesses for the global economy. Key Takeaways The world’s 500 largest family businesses have shown a remarkable degree of resilience during the pandemic, weathering the storm admirably. Due to lockdowns and travel bans, many families had a chance to spend more time together, giving them an opportunity to sit down and discuss sensitive but critical matters such as succession.There is an opportunity to engage with the next generation through next-gen programmes and education, which is key to helping younger family members ascend to leadership and board positions, as well as encouraging diversity.Family businesses benefit from investment in people, such as philanthropic efforts. The wellbeing of not just employees but also the wider community can strengthen a family business’s position in the market, so they should strive to keep people at the centre of their business model. Listen and Subscribe on Spotify, Apple Podcasts, Google Podcasts, Stitcher, TuneIn and YouTube.
How did a Founder Build a Global Family Enterprise Based on Dignity and Trust?
15-02-2022
How did a Founder Build a Global Family Enterprise Based on Dignity and Trust?
On this episode of The Family Business Voice, Nand Kishore Chaudhary, the visionary founder of Jaipur Rugs, discusses how his company transformed the Indian carpet industry with dignity and respect. See the full interactive article here. - When NK Chaudhary started his business, rug weavers were a disenfranchised minority. They were taken advantage of by middlemen who used the vagaries of a complex supply chain to their sole benefit. Jaipur Rugs cut out these middlemen, instead forging strong relationships with artisans and empowering them through economic independence and benefitting all of those involved. - Empathy and compassion are critical to NK Chaudhary's entrepreneurial model. Making sure these fundamentals are present at every level of the organisation means that people put their heart and soul into what they do. - NK Chaudhary believes that family businesses all over the world hold the keys to societal change by upholding the same values that underpin Jaipur Rugs' success. Listen and Subscribe on Spotify, Apple Podcasts, Google Podcasts, Stitcher, TuneIn and YouTube.
How is this 2nd Generation Family Legacy Changing the Malaysian Security Industry?
11-02-2022
How is this 2nd Generation Family Legacy Changing the Malaysian Security Industry?
On this episode of the Family Business Voice, Saliza Abdullah, Managing Director and CEO of BG Capital Holdings, talks about her journey at the forefront of the Malaysian security industry, what she sees as the key ingredients for a family firm’s longevity, and what the future might hold for BG Capital Holdings. See the full interactive article here. - For Saliza Abdullah, the Managing Director and CEO of BG Capital Holdings, the continued success of her family’s business is only one part of her mission. With the help of technology, she's advancing the cause of women in her industry and ushering in a new kind of democratised security — achievements that are just as impactful as her family's extraordinary legacy. - In working well with her mother, the delineation between business and family roles was critical. Mother and daughter could have a heated discussion at work, leave it there and then go home for a family dinner together. They wouldn't pick up the work discussion until the next day. - In her work at BG Capital Holdings, as well as her role as vice-president of the association that governs the security industry in Malaysia, Saliza has overseen a dramatic rise in gender diversity in her industry. According to Saliza, there has been significant buy-in to the idea that gender diversity and inclusion hold the keys to sustainability in the long run. Listen and Subscribe on Spotify, Apple Podcasts, Google Podcasts, Stitcher, TuneIn and YouTube.
How Can You Pave Your Entrepreneurial Path as a Next Gen?
11-01-2022
How Can You Pave Your Entrepreneurial Path as a Next Gen?
On this episode of the Family Business Voice, we talk to Abdulrahman Al Bassam, the Co-founder and CEO of AWN Enterprises, the CEO of Tilal Real Estate Development Company and a member of one of the Kingdom of Saudi Arabia's renowned family businesses, Al Bassam & Sons. See the full interactive article here. Abdulrahman speaks with us about the unique entrepreneurial journey he's been on and how he is contributing to his family's legacy, the challenges of bringing change in a family business environment, and how a culture based on consistency can take a company toward its full potential. - Working at the family business, Abdulrahman realised it wasn’t feasible for him to implement the bold agenda he had in mind — it wouldn’t appear fair to his cousins. So, he ventured out on his own. - With the support of both Al Bassam & Sons and his wife, Norah's, family business, the Tamimi Group, the couple established AWN Enterprises in 2009, a successful investment firm. - Abdulrahman's entrepreneurial model compliments his family business but also allows him to follow his own path — an ideal scenario where both the individual and the collective prosper. Listen and Subscribe on Spotify, Apple Podcasts, Google Podcasts, Stitcher, TuneIn and YouTube.
Heavy is the Head: How can Legacy become a Burden?
22-12-2021
Heavy is the Head: How can Legacy become a Burden?
Listen and Subscribe on Spotify, Apple Podcasts, Google Podcasts, Stictcher, TuneIn and YouTube. On this episode of the Family Business Voice, Joseph W Reilly talks about inheritance — the often-overlooked problems associated with wealth, strategies for young inheritors to cultivate a healthy relationship with wealth, and tools, including the family office, that enable inheritors to generate positive outcomes with their wealth. Joseph W Reilly is a family office advisor and Director of the Inheritance Project, a platform that allows inheritors to explore the emotional and social impact of wealth through the experiences of others. – That wealth can be burdensome in some ways is often surprising to people. The stigma associated with talking about these problems and wealth in general, can exacerbate the isolation some inheritors feel. – There’s no hiding affluence from next-gens in the digital age. Instead, healthy relationships with wealth are rooted in open communication — talking about where it comes from and the responsibility that comes with it. – For next-gens, finding a way to apply themselves to a project they are passionate about is key. Rather than feeling burdened by their wealth, they can utilise it to create the change they wish to see in the world.