30. Family Enterprise (definition)
NOTE: if you’re new to Ground-Up Governance, or are finding anything a bit strange or confusing, you might want to START HERE.
One day, if Reallie Steilish is successful enough, you might want to pass the business along to your children, nieces and nephews, grandkids, third cousins, or any other family member who might be interested in being involved. Your family members may not be very interested in Billie Eilish or hats, and they might not be smart or talented enough to be good managers, shareholders, or anything else. You know what they probably WILL be interested in? Your plans for the fortune you’ve made selling hats!
If Reallie Steilish generates enough wealth for you and your family, you might decide to start new businesses, or establish charities, or buy cool vacation properties, or start glitzy new family traditions. Once you involve your family in your business and you work together to build new things together, what you have is called a “family enterprise.”