David’s Articles

David has been writing and publishing since 2006.  

This post was written and published prior to September 2023 when David and his prior firm, Family Capital Strategy, merged with Greycourt.  Views expressed reflected David’s personal views at the time and do not necessarily reflect the views of Greycourt.  Posts and information may be out of date and should not be relied upon for investment advice.

“What’s Left After a Family Business is Sold?”

Aug 13, 2019 | Family Wealth

The New York Times recently published a great piece entitled, “What’s Left After a Family Business is Sold?” The article highlighted the fundamental reason Family Capital Strategy was formed. In the busyness of a liquidity event or other transformational change in the nature of a family’s investment together, little time or thought is given to the questions of what come next. Too often after the family business is sold, the family itself, while flush with cash, is left adrift in contemplating its future.

Without the [family business], the family’s perception of itself and its purpose can change, and it is often something that members are not prepared for. Their focus was on running the business and then on the sale; little thought went into what comes next.

You can read the NY Times Piece by clicking here.

Thoughtful families use the liquidity event to contemplate their future together, and then renew the shared dream (and social compact) they have made by choosing to pursue a business venture and life together. This is not a process to rush through, but should involve a pause period of reflection and self-assessment. It is realistic to expect that some family members may use the window to leave the business or potentially the family enterprise entirely. Yet like the voyagers of old making ready for a great journey, ample preparation and buy-in are key to the family’s success in its future ventures.

See also our piece You Don’t Have to Sell Just Because the Party Might Be Ending – Exiting is More Complicated Than That


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Nashville, TN