Exploring the Role of "Mattering" in Family Business Success: Insights from Darren Good and Frank Foster

In an article published by CampdenFB, Pepperdine Graziadio faculty member Dr. Darren Good, and Frank Foster, Chairman Emeritus of Hixon Properties, explore new framework for family business success rooted in the psychology of “mattering.” Their research suggests that fostering a culture where every family member feels valued and significant can serve as a powerful competitive advantage, strengthening family enterprises and preserving legacy across generations.

Family-owned businesses possess unique advantages, including a long-term vision, commitment to stakeholders, and enhanced talent retention. However, Good and Foster emphasize that these advantages depend on the quality of family relationships. Drawing on the work of psychologists Gordon Flett and Paul Wong, they outline how “mattering”—the feeling of being relied upon, noticed, and valued—can strengthen these relationships, align family goals, and build resilience within family-owned companies.

The article outlines practical ways to implement a “mattering mindset,” including open communication, personalized recognition, and family gatherings focused on relationship building rather than solely on business. This shift in perspective could empower family councils, improve shareholder relations, and enhance family cohesion, all of which are critical to maintaining a thriving family enterprise over time.

Read the full article here.