And yet so many of these obstacles could be remedied with some forethought and openness. Here are several approaches that can familiarize younger members of the family with the ins and outs of today’s business, and get them ready to feel comfortable taking the reins in the future:Even young children can be exposed to the excitement of the business environment.
to develop an independent business perspective. One of my clients encourages family members to participate in the work of industry associations to ensure that the children have other mentors, nuanced industry outlooks, and substantial personal networks.Gear explanations about the importance and value of building the business, its financing, and its mode of operations to the.
early, because these negative inclinations will create damage in the business, and should not be tolerated, even — or especially — in loved ones.Know your long-term intentions for the business so you can plan appropriate career development for the next generation.
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