Startup Funding Espresso – Choosing a Leader for a Family Office

Choosing a Leader for a Family Office

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

In setting up a family office, one must choose someone to lead it.

There are several types of leaders to consider:

Operations -- focuses on the day-to-day tasks of running the business.

This leader provides oversight over all aspects of the business including investments, tax and administration.

Specialist -- has expertise in one or two key areas such as investments or tax. 

This leader focuses on a few key areas and leaves the day-to-day operations to someone else.

Strategist -- has expertise in specific areas such as succession planning or investment strategy.

This leader focuses on a strategic goal and leaves the day-to-day operations to someone else.

Advisor -- coaches the members of the family office by providing advice and consultation.

This leader can help with challenging situations such as a crisis, or a major change in the family office.

The chosen leader must keep the family and its values and concerns at the forefront of the business.

Consider the type of leader your family business needs.

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

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