Creating an authentic life is a challenge in and of itself. Add family to the mix and this challenge becomes more complex and difficult. Whether you are the parent or the adult child in your family, you play a role in creating an environment of authenticity. Creating such an environment early is critical to achieving open and honest communication later in life. It is also crucial for families to raise uncomfortable matters and have tough conversations in order to prevent issues from becoming larger and causing more permanent damage.
Family Learning
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Helping your children learn to become financially self-sufficient can be one of the most satisfying jobs of parenthood. By “forcing” your children to make choices about how to spend limited resources, you’re creating opportunities to help them find their interests and passions and discover what is truly important to their happiness. The more you can do to help your children become financially self-sufficient, the more confidence they and you will have in their ability to eventually take a leadership role in managing your family’s wealth and legacy.
If you are a newer family foundation with one or two generations on the board, five generations may seem like a long time away. Yet in family philanthropy, quite a few foundations have been operating and thriving for 50, 75, even 100 years. What’s the secret of these family philanthropies that make it five generations, and across family branches? How do they successfully attract and engage younger family members? Learn from what other thriving family foundations have done—and continue to do—to sustain a successful long-term family philanthropy.
Inter-generational role transitions are often bumpy when it comes to the family business. Power and authority are not always easy to lay down when the baton is passed to the next generation, despite best laid plans.
FOX Foresight – Voice of the Wealth Owner
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FOX Foresight – Voice of the Wealth Owner outlines what challenges and inspires family leaders and family office executives in the best and brightest family enterprises around the world. It summarizes what we have been learning from the FOX community and our subject matter experts over the last
FOX Foresight keeps FOX members up to date on the latest thinking on matters that affect enterprise families. It summarizes what we have been learning from our members and our subject matter experts over the last year. Please share it broadly within your family, your office, and your advisors. FOX Foresight is presented in 8 chapters:
Re-Energize with Enterprise: Nurturing an Entrepreneurial Culture to Create a Durable Family Legacy
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Having an entrepreneurial culture can help nurture a family legacy by providing pathways for family members to invest in new enterprises and regularly recharge the wealth for future generations. Although it may be challenging to re-energize a family, a dynamic culture of growth can flourish within a thriving entrepreneurial ecosystem. A family interested in being a family of legacy should examine their current culture to determine if they have what it takes to be an entrepreneurial family.
Many FOX members have come to realize that effective education programs don’t just happen, they are creatively designed with specific outcomes in mind. Come to this session to hear from several chief learning officers who are positively impacting their families by designing engaging experiential programs for each generation. Program overviews and learning modules designed and used by three families will be featured.
In Skin in the Game, a proposed TV show with a format similar to Shark Tank, the audience effectively runs the game, deciding which businesses get funded. Audience members also have the option to invest their own capital in the Skin in the Game fund. More than fun and games, it was designed with projections for job creation and economic development in mind, and the success of these crowd-funded deals will be published and discussed on each show.
SEMINAR 1: Preparing the Individual, the Family, and the Family Business for the Future
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Successful business-owning families know that a set of timely decisions is required to continually prepare and grow the family-operating companies. For the long-term success of the family, timely and thoughtful exploration of future planning for self and family is also required, but often overlooked. This session presents ideas and best practices for strategically planning for the lasting success of individuals, family, and business, while recognizing the complex intertwining of the three.You can view each part of the seminar below: