Family Business/Business Family Episode 27: When Stewardship Means Selling | You’re Not So Unique | The Attributes of Prosperous Families
Sep 30, 2025
Raffi Amit, a renowned Wharton professor, shares insights on the keys to prosperous families, emphasizing shared values and effective governance. Deborah Jacob, from the fifth-generation MJS Packaging, discusses vital lessons on succession and the importance of philanthropy in family businesses. John Vaughn reflects on the emotional journey of selling his third-generation company, balancing stewardship and identity. Their collective wisdom reveals how communication, resilience, and learning from peers can shape successful family enterprises.
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Family Office Goals Go Beyond Money
- Family offices balance preserving financial capital with preserving family unity, legacy, and culture.
- In many family offices the goal of unity and harmony ranks above financial growth.
Different Conflicts Need Different Responses
- Conflict in family businesses comes in relationship, procedural, and task forms, and each needs different handling.
- Open, frequent, two-way conversations convert destructive conflict into productive debate.
Direct Investing Is Popular — And Risky
- Direct private investing by family offices has surged but many families lack private-equity expertise.
- Families often hold risky seed-stage deals briefly and do so without experienced staff, which is worrying.