Safe Space Three-Circle Model
The Safe Space Three-Circle Model defines the three groups that make up the family business system – The Individual, Their Relationships, and Wealth.
In order for the Individual to find their safe space, they must feel safe based on:
- Being competent in one’s role both intellectually and emotionally.
- Being confident in one’s decision making both intellectually and emotionally.
- Understanding of one’s triggers and the impact of such on others.
- Understanding of their money motto and its impact on financial decisions.
- Being comfortable dealing with conflict in a healthy manner.
Challenges occur in the ‘conflict zones’ where the circles overlap.
The goal is Safe Space – finding it, creating it, and maintaining it.
Definition of Family Wealth (FW)
FW = FC + HC (Individual) + SC (Relationships + Collective Brand and Reputations)
Safe Space Equation
An individual’s core negative belief or beliefs manifest as one’s gig, or behavior. The mask is the lie the individual tells oneself that perpetuates the core negative belief and justifies the gig, or behavior. Safe space is what the individual seeks, but they cannot operate in the safe space while wearing the mask and playing the gig.
Cultural Governance is the “rule book” of how a family plays the very complicated, emotionally charged game called family wealth, equipping the current and next generation for continuity and maintenance of the family’s safe space.
Why is it important?
- Identifies the guiding principles by which the family commits to dealing with each other.
- Determines rules and consequences.
- Identifies vision, mission, and purpose of the family wealth.
- Determines qualifications, parameters, and timelines for ownership and leadership development of the next generation.