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The Power and Purpose of Entrepreneurial Stewardship

Successful business owners wake up every day thinking, “How can I serve my customers better?” They have a mind-set of continuous improvement. They know that loyalty goes only so far and that if they don’t get better their competition will. They also know the satisfaction that comes from being useful to others.

I will show that the math of wealth management requires you to recreate the wealth in each generation if you want to keep it. But the core concept behind entrepreneurial stewardship is about building human capital in your family. With the passage of time and generations, many people worry that wealth can be demotivating. A culture of entrepreneurial stewardship inspires people to lead fulfilling and productive lives, and its spirit can give families a sense of purpose and shared identity that transcends the family business. It’s more rewarding than growing investment portfolios. It’s more flexible than a family company. It’s more effective than family philanthropy.

Our family has teachers, doctors, and clinicians who express a spirit of entrepreneurship and service in their work. You might have scientists, politicians, philanthropists, environmental advocates, or artists in yours. In a world of constant change, entrepreneurial stewardship is the best way to preserve common family purpose while helping each individual family member to flourish.

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