The Impact of Family Values on Family Legacy

Unless you have shared values, over time, there is no more family business. It’s a condition too. Well, normally, values go over time or they are not values. It’s true that the world changes, values normally are permanent, maybe with a little tweak. Values are built around the following questions: Who are we? What do we stand for? These don’t change over time. What is our goal? This may evolve. And what do we do to meet our goals? That’s how you define your values, correct? So maybe there is a little tweak in the last two questions, otherwise the first two are very fundamental. Who are we? Doesn’t change over time. What do we stand for? Doesn’t change over time. There is not a single company we have invested in in the last 14 years where I did not ask the founder to answer those four questions. I think they are very fundamental.