The Most Overlooked Threat to Family Enterprises? The Conversations That Don’t Happen.

A few weeks ago, I spoke at The Capital Networking Conference about what quietly undermines legacy in family enterprises. Not the markets. Not bad investments. But the conversations that never happen. 

Most people think the biggest threats to generational wealth are external. But the real risk is relational. We know the numbers. While about 30% of family businesses transition successfully to the second generation, only 13% make it to the third, and a mere 3% continue into the fourth generation and beyond. You are more likely to be struck by lightning than to be 5th generation in a family business.

What's rarely said out loud: Families can have governance without guts. They build charters, boards, and structures, and can still avoid the conversations that matter most. 

One line from my talk seemed to stick with people: “It's not the money, or the power, that confuses them. It's the silence around it.”

Silence is often mistaken for stability. But it doesn't protect the family – it perpetuates the problem.  If you're part of a family enterprise – or support one – here are questions worth sitting with: What's in the room, but not in the conversation? What truth is quietly shaping everything, because no one is naming it?

These questions are the beginning of real stewardship. I help families have these conversations, without blowing things up. If this resonates, I'd love to connect.