Senior Research Fellow at BanyanGlobal, Dennis Jaffe joins Paul Andrews on his podcast, Family Business Insights, to talk about his book Borrowed from Your Grandchildren: The Evolution of 100-Year Family Enterprises, and other family business-related topics.
You can listen to the full interview here.
Time Stamps:
[1:08] Dennis shares how he helped to develop the field of family business advising.
[4:02] Family businesses make up the majority of the businesses in the world, so why study long-lasting, global family businesses?
[7:24] After the creation of wealth in these family businesses, the subsequent generations face the question of: what do we do with our wealth? This question drove them to make the active choice to stick together as a family and to renew and live by their values and their purpose with each generation, among other activities.
[14:20] These long-lasting family enterprises must be resilient to last and they do so by creating governance structures that support their growth and their family.
[17:25] Dennis shares a detrimental mentality that is commonly seem amongst less successful family businesses and how the more successful families combat this.
[20:15] What can smaller family businesses learn from these successful enterprises?
[23:11] How do the family history and the family dynamics affect the business?
