Builder, Barrister and their brewery
Let me share a story: a family-office one, to secure a future legacy.
What?
James and Adam, Builder and Barrister respectively by profession, were Australians two. On a whim, so typical; they had bought a brewery in Ruritania.
Why?
Their target had been an Eastern European based tuna canning facility but during the cacophony of Berlin’s falling wall it had already been acquired by ‘local interests’. In the midst f the turmoil, they asked themselves: “We’re Aussies, what do we know?” A dilapidated brewery was still available. The global brewers had feared to tread so far East in those days. James and Adam passed over their suitcase, stuffed with dollar bills; and received the keys to the vacant, decrepit site.
Roll forward a few years. After a great deal of work, investments and ballooning debt, yet with little graft, they had amassed a network of breweries across the land. Yet a horse designed by a committee is a camel. While useful, what James and Adam needed was a thoroughbred to win the race. Despite trying to realise their ambition working with their international brewing partner, the latter offered hollow advice and continuing demands for more investments. The ‘suits’ reckoned a bust venture is much cheaper to acquire than a viable one. Discerning their risk, the Antipodeans turned to specialists for advice. The responses were common: difficult; more money; full of risks; and why not just sell-out, to double the return on the suitcase.
It was less abut the money and more about building something, to last.
How?
It so happened that a maverick Bull Durham figure challenged the risk-averse coterie: ‘without a destination one is guaranteed never to arrive’. A future: secure; with one in control but not necessarily owning and; self-sustaining. Capex was curtailed and redirected, processes streamlined, balance sheet and income statement strengthened; governance secured. The cash drain became a flow, then beer sales expanded. Now ‘partnership’ was based on an objective reality. Out when the old partner and an auction found a new global one – where James and Adam remain today.
Maverick was willing to challenge the status quo and group-think. In a world with few facts and much opinion; problems were solved by daring to assume and then acting practically. Two nails will suffice, if no screws are available. He kept the focus on of the pairs’ destination and how the journey had to unfold, even if the route needed to be changed.
Legacy
James and Adam heeded the contrarian counsel and now no longer need to work – they pursue their interests. They are amassing a fortune so large that generations will continue to proposer: their own as well as those associated with their construct. A true legacy.
Is such a story relevant to a family-office? To a starter generation, absolutely. To more established ones, the Maverick support remains valid as one navigates forward; for the World is not a still nor stable place. Be in touch if this story touched a chord.
Justin Jenk – pathfinder: who enjoys finding & connecting dots.
justin@raktas.ee OR info@globalfamilyofficecommunity.com to discuss your story.