Safe Space with Francesco Lombardo What Makes A Family Business Last - With Veritage Founder and CEO Franco Lombardo
Oct 22, 2024
In this insightful conversation, Thomas Clark, COO of Veritage, interviews Franco Lombardo, the firm's Founder and CEO. They delve into Franco's journey of creating Veritage, emphasizing emotional security beyond financial wealth. Topics explored include the importance of emotional governance in family dynamics, effective investment in human capital, and the challenges of succession planning. Franco also shares how vulnerability can foster personal growth and the significance of compassion in easing transitions for the next generation in family businesses.
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Emotional Governance Defined
- Emotional governance means governing oneself and being aware of why we do what we do.
- It enables us to choose how we react to emotions instead of automatic behaviors controlling us.
Pressure Reveals True Nature
- Families often assume financial security guarantees emotional security, but it doesn’t.
- Pressure reveals true human nature, so emotional understanding is vital for family wealth success.
Invest in Human Capital
- Investing in family human capital yields quicker decisions and stronger relationships.
- Neglecting it leads to division and risks destroying both family ties and wealth.