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Bringing the startup mindset to the family office world can bring a whole new way of being.
Traditionally, family offices have long been seen as the pinnacle of private investment sophistication—highly sophisticated institutional level investors, dedicated to single or small groups of ultra-high-net-worth families to manage their fortunes across generations. But today this might look different. When a family office is born from a recent tech exit or the sale of a family business, it doesn’t start with the polish and structure of a century-old institution. Instead, it begins as something far more dynamic, experimental, and entrepreneurial.
In fact, the most effective way to understand a newly formed family office is to think of it not as a traditional investment firm, but as a startup. This comparison isn’t just a clever metaphor—it’s a practical framework for navigating the challenges and opportunities that come with building a family office from the ground up. From defining its purpose to assembling a team, building infrastructure, and scaling operations, a family office in its infancy shares much in common with a fledgling tech company.
Here’s how the startup mindset can guide the creation and evolution of a modern family office.
1. Foundational Questions = The “Startup Idea”
Every successful startup begins with a clear mission. What problem are they solving? What value are they creating? For a family office, the equivalent is defining its purpose. Is the goal to preserve wealth across generations? To pursue entrepreneurial investments? To drive impact through philanthropy? Or perhaps a combination of these?
Establishing this “north star” early on is critical. It ensures that everyone involved—from family members to hired professionals—aligns on priorities and strategic direction as well as the scope of the services that the office will provide. Without a clear mission, a family office risks becoming a rudderless ship, adrift in a sea of competing interests and opportunities.
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