Family Business Trends
Dr. Sara Davis, director of the Family Enterprise Center at Kennesaw State, joins Adam Hatcher to cut through the confusion around family offices—a structure that once seemed reserved for the ultra-wealthy but now appears on the horizon for families with as little as $5 million in assets. The episode grounds big-picture trends in the everyday risks and decisions families face: what it means to start a family office, how to avoid drifting into complexity, and where most families go wrong when governance and communication are afterthoughts. The conversation keeps both the company and the family in view, insisting that chaos isn’t inevitable—but clarity won’t happen by accident.
Key Highlights
• Defines the family office: a formal organization for managing family assets, investments, and services far beyond what a CFO provides; the office sits inside the broader family business “box,” serving both investment needs and family priorities.
• Names the real trend: families are starting these conversations at $5 million in assets, not $100 million—long before most advisors would expect.
• Poses the essential questions: What’s the family’s goal? Who benefits—from children to cousins to new spouses? Is participation automatic or selective? Who’s accountable for governance, transparency, and decisions?
• Warns against drifting in: passive or unclear decision-making often creates lasting chaos—families need transparency, deliberate planning, and a written framework from the start, or risk unraveling like the Vanderbilts.
• Pinpoints planning milestones: birth, marriage, divorce, and death as predictable inflection points where family business chaos can erupt if left unaddressed.
• Calls for deliberate, recurring family meetings: open, detailed conversations about direction, distribution, and expectations—structured communication as the foundation for a chaos proof family business.
• Outlines first steps: adopt a family constitution, establish clear decision rights, and document exactly which services and boundaries the family office will oversee.
References
• Family Enterprise Center – Kennesaw State University: https://www.kennesaw.edu/coles/centers/family-enterprise-center
• Dr. Sara E. Davis LinkedIn: https://www.linkedin.com/in/saraedavisphd/
• Patagonia’s Ownership Transfer: https://www.patagonia.com/ownership/
21C Links
• Twenty One Clear website: www.21clear.com
• Adam Hatcher on LinkedIn - www.linkedin.com/in/adamhatcher
Bumper Music
Still Hot
by Nic D, Connor Price
(c) Lossless, 2023
Produced By
https://snapmarket.co
Key Highlights
• Defines the family office: a formal organization for managing family assets, investments, and services far beyond what a CFO provides; the office sits inside the broader family business “box,” serving both investment needs and family priorities.
• Names the real trend: families are starting these conversations at $5 million in assets, not $100 million—long before most advisors would expect.
• Poses the essential questions: What’s the family’s goal? Who benefits—from children to cousins to new spouses? Is participation automatic or selective? Who’s accountable for governance, transparency, and decisions?
• Warns against drifting in: passive or unclear decision-making often creates lasting chaos—families need transparency, deliberate planning, and a written framework from the start, or risk unraveling like the Vanderbilts.
• Pinpoints planning milestones: birth, marriage, divorce, and death as predictable inflection points where family business chaos can erupt if left unaddressed.
• Calls for deliberate, recurring family meetings: open, detailed conversations about direction, distribution, and expectations—structured communication as the foundation for a chaos proof family business.
• Outlines first steps: adopt a family constitution, establish clear decision rights, and document exactly which services and boundaries the family office will oversee.
References
• Family Enterprise Center – Kennesaw State University: https://www.kennesaw.edu/coles/centers/family-enterprise-center
• Dr. Sara E. Davis LinkedIn: https://www.linkedin.com/in/saraedavisphd/
• Patagonia’s Ownership Transfer: https://www.patagonia.com/ownership/
21C Links
• Twenty One Clear website: www.21clear.com
• Adam Hatcher on LinkedIn - www.linkedin.com/in/adamhatcher
Bumper Music
Still Hot
by Nic D, Connor Price
(c) Lossless, 2023
Produced By
https://snapmarket.co
