The Enduring Enterprise: How Family Businesses Thrive in Turbulent Conditions
Devin DeCiantis and Ivan Lansberg
Public Affairs (November 2024)

These strategies can help almost any organization to respond effectively to disruptive megatrends

As I began to read this book, I was again reminded of an incident years ago at a GE annual meeting when its then chairman and CEO, Jack Welch, was asked the reasons why he so highly admired small companies. Here is his reply: “For one, they communicate better. Without the din and prattle of bureaucracy, people listen as well as talk; and since there are fewer of them they generally know and understand each other. Second, small companies move faster. They know the penalties for hesitation in the marketplace. Third, in small companies, with fewer layers and less camouflage, the leaders show up very clearly on the screen. Their performance and its impact are clear to everyone. And, finally, smaller companies waste less. They spend less time in endless reviews and approvals and politics and paper drills. They have fewer people; therefore they focus on doing what is most important. Their people are free to direct their energy and attention toward the marketplace rather than fighting bureaucracy.”

Devin DeCiantis and Ivan Lansberg obviously agree. They  provide an abundance of valuable information, insights, and counsel within three Prtas:

1. 1. The New Age of Uncertainty (Chapters 1-4)
2. 2. Stabilizing Strategies in Action (Chapters 5-11)
3. 3. Nurturing a Frontier Mindset (Chapters 12-14)

“By the end of the book, you will have a  new inventory of tools and inspirational case studies to leverage in good times and bad, a greater appreciation for the unique role of enterprising families in the global economy, and an achievable path to building greater resilience and long-term success wherever you live, work, and play.”

These are among the passages of greatest interest and value to me, also listed to indicate the nature and scope of  DeCiantis and Lansberg’s coverage:

o Why Uncertainty Matters (Pages 6-9)
o The Family Factor (17-19)
o The Hierarchy of Stability (37-41)
o Structural Differences Across the Hierarchy of Stability (43)
o A Brief History of Stability (50-54)

o The Evolution of Enterprising Families (61-67)
o Building Blocks of Stability (75-80)
o Frugal Innovation (97-100)
o Modular Systems (114-116)
o Faustian Bargains (133-136)

o Belts and Suspenders (159-162)
o Push and Pull (176-181)
o Pivot or Persevere (184-186)
o Stabilize the Core (201-205)
o The Wiasdfom of (Diverse) Crowds (230-232)

o Three Phases of Crisis Navigation (248-256)
o Five Options [When Gathering Data] (272-275)
o Calibrating Risk (280-284)
o An Enterprise for All Seasons (304-306)
o Preparing Your Owners [to Govern Effectively] (309-313)

I also commend to your attention two superb appendices:

Appendix 1: Strategic Isotopes in Action (Pages 327-341)
Appendix 2: Psychology of Risk (Pages 343-348)

According to Devin DeCiantis and Ivan Lansberg, this is the new strategic mindset that family businesses have adopted and — yes — adapted in order to thrive in turbulent conditions: “Building businesses that can navigate the ever-changing landscape, not just chase the next shiny new trend. As owners and operators start embracing this new logic and outperforming their growth-obsessed peers, a fascinating trend will emerge…By studying g their stories and applying their timeless wisdom, we can all be better equipped to face the many new dangers and opportunities that lie ahead.”

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Here are two suggestions while you are reading The Enduring Enterprise: First, highlight key passages. Also,  perhaps in a notebook kept near-at-hand (e.g. Apica Premium C.D. Notebook A5), record your comments, questions, and action steps (preferably with deadlines). PaZybspecial attention to the set of “Key Insights” at the conclusion of each of the 14 Chapters.

These two simple tactics — highlighting and documenting — will expedite frequent reviews of key material later.