When a family office ends up in the media’s sights because of a crisis, saying nothing is often a major mistake— almost as major as speaking without a strategy. Jay Kolbe, co-founder and senior managing partner of Impact Partners, a strategic communications firm that works with family offices, notes while staying silent may help in a courtroom, “in communications it makes audiences angry.”
One lesson family offices can learn from litigation strategy, however, is the importance of preparation. “People wouldn’t go to court without a lawyer, yet they talk to the media every day without preparation or strategic counsel — and pay for it later,” Kolbe says.
His core playbook is simple: if a negative story is going to run, don’t cede your narrative by opting out. Participate early, be open and factual and “be contrite, if need be.” Done well, that approach won’t magically turn a negative story positive, but it can “set you up for the best outcome you can have,” Kolbe says.
There are exceptions, however, and they’re nuanced. Before you speak, figure out where the reporter is in their process. “You never want to give someone the second or third source to write about you negatively,” he says; your voice might be the corroboration that greenlights a piece that otherwise wouldn’t publish. In those cases, ask questions, feel out the likelihood of the story and recognize that sometimes, careful non-participation is what quietly kills it.