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.
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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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