3 Hurdles that Trip Up Younger Generations in a Family Business

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Advice for the rising generation.

antidotes to the overwhelming fear of failure. People who have a growth mindset believe that human traits are malleable and can be developed through hard work, good strategies, and thoughtful feedback. Fundamentally, growth-minded people view difficulty and failure as part of the path of learning, and not signs of their weakness.

Keys to cultivating grit and a growth mindset include: asking for feedback; a willingness to struggle while you learn the ropes and stretch into a new role; recognizing that genuine constructive feedback is a sign that someone believes in you ; and the fortitude to stick with a new challenge long enough to build a genuine sense of skill and accomplishment.

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Generation change in each business is complicated and risky, and needs concentration and opened mind for different options analysis. And the right timing for decisions.

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