Let's Talk Legacy
The Enduring Enterprise Pt. 1, with Devin DeCiantis and Ivan Lansberg
Jan 15, 2025
Devin DeCiantis, Managing Partner at Lansberg Gersick Advisors, and Ivan Lansberg, co-founder and family business expert, discuss insights from their book, 'The Enduring Enterprise.' They explore resilience in family businesses, emphasizing the significance of 'families of choice' and risk management. The conversation navigates the paradox of stability in advanced economies, the crucial role governance plays in stakeholder balance, and inspiring stories of family enterprises surviving adversity, showcasing lessons for all businesses.
23:56
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Quick takeaways
- Family businesses prioritize resilience over short-term growth, allowing them to navigate challenges and serve future generations effectively.
- Effective risk management is essential for family businesses, encompassing governance issues, asset concentration, and personal dynamics to ensure long-term success.
Deep dives
Understanding Legacy in Family Businesses
Legacy encompasses various meanings for different individuals, from integrity and community impact to security in uncertain times. In the context of family businesses, legacy represents a mindset built on long-term commitment to values, relationships, and the well-being of future generations. The co-founders of Landsberg Gursick Advisors emphasize how family enterprises tend to prioritize resilience over short-term growth, enabling them to navigate challenges effectively. This focus on continuity allows family businesses to make decisions that benefit not just the present but also serve the interests of children and grandchildren, illustrating the multidimensional nature of legacy.
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