The Modern Family Office: Building a Business That Lasts

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The Modern Family Office: Building a Business That Lasts

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Podcast: The Modern Family Office – Building a Business That Lasts

Josh Baron is a co-founder and Partner at BanyanGlobal. For the last decade, he has worked closely with families who own assets together, such as operating companies, family foundations, and family offices. Josh is a Visiting Lecturer in Executive Education at Harvard Business School and Co-Author of Harvard Business Review’s Family Business Handbook.

Key Highlights

[00:01 – 12:12] Building a Family Business That Lasts: Exploring Nature vs. Nurture

Family businesses are either really good or bad, and there are both extremes in the world
1/3 of the S&P 500 are publicly traded but privately controlled
Ownership is the most important and least discussed the idea in business
Family businesses have seen an increase in interest and have become their asset class

[12:13 – 30:13] Exploring the Dynamics of Family Businesses and Family Offices

There are similarities between family businesses and family offices, but there are also differences that need to be addressed
Intentionality is key when creating a family office
Family offices should have a multi-generational time horizon

[30:14 – 37:29] Navigating Conflict and Market Volatility: How Family Businesses Can Thrive During Difficult Times

The notion that wealth dissipates quickly over generations is unsupported by evidence
Most businesses do not last for 100 years, regardless of family involvement
Conflict can be both destructive and constructive; it is important to find a balance between the two
Family businesses tend to have more conservative balance sheets

[37:30 – 38:56] Closing Segment

Additional Links:

Website: https://www.linkedin.com/in/joshbaron/

Josh’s Linkedin: https://banyan.global/

Brian’s Linkedin: https://www.linkedin.com/in/brian-c-adams/

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