Compounding of Wealth

A series for those journeying through family business succession.

Often there is confusion about what family business succession is really all about, but honestly, there is only one answer.

I define succession as ‘enabling the compounding of wealth from generation to generation while ensuring family unity, individual growth and a sense of contribution’.

  • Enabling
  • Compounding of wealth
  • Generation to generation
  • Ensuring unity, individual growth and a sense of contribution.

I believe you should think of succession as establishing a process and culture, which allows and supports the growth of family wealth over generations as the family grows. Individual growth and a sense of contribution are critical elements to underpinning family unity. And if there is not a strong unity, you can almost be guaranteed that wealth will be dismantled in the next generation.

An Invaluable Resource — ‘Transition — Orienteering The Lands of Succession’

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