“We aren’t creating family values, we are living and cementing the one’s Grandma and Grandpa established.”
…fourth-generation family member discussing what family values mean to him and his cousins.
Some wealth creators balk at creating a family values statement because it seems light or lacking in substance. However, they don’t have the ability to peer forward in time and determine if defining family values now will make a difference in the long run. One of the most significant ways to bring a family together and create a solid foundation for your family’s future is the process of creating your collective value statement.
“How far can we go if everyone has a different destination in mind? Maybe we should sell the company, divide the money, and just move on. Everyone needs to be on the same page or this won’t work.”
…second-generation family member asking her siblings to join the conversation on the long-term sustainability of their family business.
Creating a family vision helps align interests and guide decisions. Having a collective vision is the beacon that draws family back together when needed. There will be many different ways to achieve the family’s vision but starting with the same goal is key.