About Adam Ladjadj

 Adam Ladjadj is the Founder and Chairman of the Emirates Family Office Association. He started his career at Chilton Investment Company LLC, in London, then founded several companies in the UK and restructured and managed various companies in the Middle East. His experience across various investment and finance sectors led him to secure senior positions with leading families in Qatar in 2013 and in the UAE in 2015. Along with senior roles in various companies, he has held the position of Chief Investment Officer for HH Sheikh Hamdan Bin Mohammed Al Nahyan’s private office in Abu Dhabi and leadership positions at Oros Asset Management, AE Capital, and AD Investment LLC. Adam holds a BSc in Economics and an MSc in Supply Chain Management from Westminster University, London.

 Family Constitutions: The Secret Weapon for Family Business Success

 Family businesses play a vital role in the global economy. However, only a small percentage of family businesses survive beyond the third generation. One of the key factors that contribute to this high failure rate is the lack of a family constitution.

 A family constitution is a written document that outlines the family's values, goals, and rules for governing the family business. It is a valuable tool for ensuring the long-term success of a family business and for preserving the family's harmony.

 

Here are some of the benefits of having a family constitution:

·   It helps to clarify the family's values and goals for the business.

·   It provides a framework for making decisions and resolving conflicts.

·  It helps to ensure a smooth transition of leadership from one generation to the next.

·    It protects the family's wealth and assets.

If you are a member of a family business, I encourage you to consider developing a family constitution. It is a wise investment in the future of your family and your business.

 

Tips for Developing a Family Constitution

·   Gather the family and discuss your values and goals for the business.

·   Identify the key issues that need to be addressed in the family constitution, such as roles and responsibilities, decision-making, succession planning, conflict resolution, and distribution of wealth.

·    Draft the family constitution in clear and concise language.

·    Review and approve the family constitution with all family members.

·  Update the family constitution regularly to ensure that it remains relevant and reflects the changing needs of the family and the business.

Conclusion

A family constitution is an essential tool for any family business that is serious about long-term success. By developing a family constitution, you can ensure that your business is well-positioned to thrive for generations to come.