For over 40 years, Dennis Jaffe has been one of the leading architects of the field of family enterprise consulting. “He is both an organizational consultant and clinical psychologist helping multi-generational families to develop governance practices that build the capability of next generation leadership and ensure ongoing capability of financial organizations and family offices to serve their family clients.”
His book, Borrowed from Your Grandchildren presents the findings of research he and his team implemented for a number of years and in different countries where they interviewed and studied more than 100 successful family enterprises. Jaffe is passionate about the subject matter and emphasizes the need for not only good business practices but also good family values and communications in order for the family business to survive more than three generations. His passion for this subject began years ago.
ABOUT THE AUTHOR: https://dennisjaffe.com/
“In many ways, my work today, after fifty years, was formed by my youthful passions. After graduating college in the late sixties, I was a founder of a project for runaway youth. We called it Number Nine, after a Beatles song. We helped runaway young “street people” call their parents and set up an intergenerational conversation, in a safe and neutral place, to talk about their differences. These conversations were my first experience of how values and behavior could be so deeply contentious and hurtful in a family. I also learned that parents had to allow their children to grow in their own way but also find some common ground with the values of their elders.” Borrowed from your Grandchildren. Jaffe. Pg. xxvi- xxvii
The book is broken down into four parts. Wisdom of Generative Families, including history of successful family enterprises. Evolution of the Resilient Family Enterprise in which he talks about the importance of communal values, goals and leadership. Inside the Family, or family governance, and The Rising Generation. In identifying the qualities of these case studies, Jaffe has charted the long-term perspectives and values that set successful family-owned businesses apart from those that last three years or less. His studies include both small family businesses and huge multi-profession enterprises and he provides statistics across the board.
AMAZON: https://www.amazon.com/Borrowed-Your-Grandchildren-Evolution-Enterprises/dp/1119573807
It seems for a few decades America’s concentration on the family unit has fallen by the wayside, but in this rich comprehensive study, we see the beauty of families working together for a common goal, i.e. to work for financial independence for themselves and most importantly for future generations within the family. Traditionally this was a common goal since ancient times when land, livestock and farms were procured and passed on from father to son and so forth. I find it honorable that there are consultants such as Jaffe who has dedicated his life to assisting families in this endeavor.
This is an excellent manual, not only for families who are seeking to begin a business together, but for those who are either having difficulties in their current business, or wish to take a step further with their endeavors.
D.L. Gardner
