If you want to know where you are going, it's important to know where you are.
Why it Matters
As Collier states in his book Wealth and Families, "Successful families manage themselves deliberately." "...a successful family [is] one that knows who it is, what it stands for, and where it is going."
How to Get There
The essential questions to ask and anchor yourselves on:
What is truly important to us as a family?
What are our real assets?
What should we do to guide and support each person's unique life journey?
How wealthy do we want the younger generation(s) to be?
What is our responsibility to society / the common good?
The Bottom Line
Successful families start with a guiding mission and purpose for their wealth, giving them a clear direction on the how, where, and when.
The National Center for Family Philanthropy has a ton of great resources for families who want to explore their meaning and purpose.