While I am working on a much longer article / white paper on the moment, I wanted to share 7 core capabilities that legacy focused families must develop over time in order to be successful.
Most often, people focus on the first – can the family work together?
While this is necessary, it is not sufficient to address the full panoply of challenges that families face over the generations.
Consider the following:
- Can we work together? Do we know how to organize ourselves to accomplish a task?
- How are decisions made? How is power exercised within the family? Is this power model durable for the long term?
- How does the family preserve tradition, but also remain innovative to avoid becoming brittle in a changing world?
- Can we manage conflict? Can the family disagree but remain in relationship?
- Can we manage hardship / suffering? How will we handle the inevitable griefs that come?
- Can we welcome others in? Every generation on-boards both in-laws and the next generation?
- Can we learn? Is the family self-reflective to identify knowledge and skill gaps and capable of the learning required to address?