For two decades, Sara Hamilton and Margaret Vaughan Cox have collaborated to guide multi-generational families through the complexities of sustaining collective wealth and shared values. Now the two family office veterans have co-written Build an Enterprise Family to Last: Proven Strategies to Thrive Across Generations.
As Hamilton transitioned from CEO to chairman of the Family Office Exchange (FOX), she reflected on the chronic issues that often trip up enterprising families. “The time was right for me to step back and synthesize the lessons we’ve learned,” she said.
Together, Hamilton and Vaughan Cox have created a tool that can guide families for years to come. “This book isn’t just for the current generation,” Vaughan Cox said. “It’s a legacy families can pass on, empowering each generation to navigate complexity with confidence and clarity.”
Defining an enterprise family
The guide provides a road map for families navigating the intersection of shared ownership and individual growth, offering actionable strategies for maintaining harmony and productivity within family enterprises.
“Enterprise families are unique,” Hamilton said. “They share collective ownership of assets — operating businesses, investment portfolios, vacation properties, foundations, even planes. But as their assets and family units grow, the challenges compound. Our book helps them identify the friction points and align their goals to thrive across generations.”
The book is structured into three comprehensive sections — the family journey, the enterprise journey and the personal journey — framing each around past, present and future milestones. This approach encourages families to separate discussions about their personal dynamics from conversations about the enterprise’s operational needs.
“Families often struggle when these conversations take place in the same room,” Hamilton said. “By distinguishing between the family and enterprise journeys, we help families avoid misunderstandings and misaligned priorities.”
A shared vision
Hamilton’s experience at the helm of FOX and Vaughan Cox’s decades of consulting shined through in the book’s practical, accessible writing style. “We wanted a resource that speaks to sophisticated wealth owners but is also approachable for younger generations,” Vaughan Cox said. “The book is visually rich and written in a way that rising-generation family members can grasp immediately, sparking their curiosity to engage further.”
Beyond financial capital, the authors emphasize the importance of human and intellectual capital. The emphasis on personal and developmental journeys can resonate with individuals grappling with questions about their role in the family enterprise, Vaughan Cox said.
“The rising generation often asks: ‘Where do I fit in? Do I want to engage with this legacy?’ ” she said. “The personal journey section provides a foundation for them to explore those questions.”
Changing the conversation
Hamilton and Vaughan Cox’s work aims to redefine the language of family enterprises. Their book introduces 33 key terms, each explained with the goal of fostering shared understanding and deeper discussions.
“Our goal is to equip families with a common vocabulary,” Hamilton said. “When every family member understands the terms the same way, discussions become more productive, and misunderstandings diminish.”
The authors hope the book inspires more than just dialogue — it’s a call to action for families and their advisers. “We envision entire training modules and programs springing from this framework,” Vaughan Cox said.