Reflections from Barcelona | November 2025
Last weekend, I attended the 2025 IESE Family Business Conference in Barcelona — a thought-provoking gathering of owners, advisors, and academics exploring the evolving governance of family-owned enterprises.
Here are my key take-aways:
1. Rob Lachenauer’s “Kite” Framework – A Compass for Family Owners
One of the most resonant insights came from Rob Lachenauer (BanyanGlobal), who shared his “Kite Framework”. It captures four complex motivations that shape how family members engage with their business:
- Wealth – financial returns and security
- Relationships – connection, legacy, identity
- Values – purpose and principles
- Enterprise – innovation, ambition, entrepreneurship
If these apexes are unbalanced, the kite falters. Flying it requires six disciplines:
→ Keep agency, Go to the balcony, Be curious, Be deliberate, Play to win, and above all, Fly your own kite.
A powerful reminder that succession planning is not just structural—it’s deeply personal.
2. Writing a Family Constitution Is a Journey, Not an Afternoon
A standout visual from the conference humorously quoted: “This should take us an afternoon at most”.
In reality, building a meaningful Family Constitution takes years, not days.
It involves 12 interconnected steps — from defining “family” and aligning values, to setting up governance groups and clarifying dividend policies.
The process is dynamic, requiring external benchmarking, structured facilitation, and periodic revision every 5 years.
This reinforces what we see at VC‑A: families need more than templates — they need advisory partnerships that bring empathy, governance design, and continuity planning.
3. Family Firms Need External Advisors – Not Just Mediators, but Strategists
From the keynote by Ferran González Feliubadaló to the panel discussions throughout the day, one theme kept recurring:
Family businesses thrive when they invite outside perspective—both to challenge assumptions and to moderate emotional dynamics.
External consultants aren’t just there to solve conflicts — they provide structure, help set strategic direction, and balance voices around the table.
At VC‑A, we often act as that bridge — combining governance facilitation with transaction strategy, funding structuring, or digital transformation.
What This Means for VC-A Clients
If you’re a family business leader—or advising one—the path forward is not to go it alone.
Let’s build structures that serve generations, not just quarterly goals.
