Building a Strategic View of the Family’s Future
Overview
When families with a multi-generational mindset undertake strategic planning, it’s with a view that is longer than the typical three- to five-year time horizon of ordinary businesses. For some families, a 25- to 50-, or even a 100-year time horizon is where they’re looking. We’ll discuss how this helps family offices develop a resilient enterprise that can weather crises and economic turbulence, and anticipate generational shifts.
Insights and Key Takeaways
One question facing families and family offices today is how to build a strategic long-term view of your family’s future. Scott Peppet, President at Chai Trust Company, says families and family systems tend to work on long-wave frequencies, and normal business works on a short-wave frequency, often monthly or quarterly.
Peppet says that often, certain family members light up and resonate more with these long-term questions. are more human questions, and they can connect to it. Other family members push back and want to focus on short term, financials, quarterly statements, etc.