My family wasn’t able to pull off a 2-generation business, let alone one that involves four! Follow this link to a 06/08/15 post on my retired older2elder blog that spotlights the Gerhard family, who make intergen part of their very successful business plan.
Even if don’t care how rare it is for a family biz to make it to the 4th generation (a mere 4%), reading the post was more than a trip down Memory Lane for me – it reminded me of the basics that make the Gerhard family tick, that apply to the rest of us.
Excerpt – – “They trust us. A shared vision. A willingness to leave disagreements behind. The capacity to step into real conversations. Yes, those are core components of successfully handing down a business through the generations. And they are the basic must-haves for a successful family, where people don’t have to worry about feeling aftershocks of a morning disagreement at a family dinner that night; where people know the vision they share & are comfortable talking about how best to make it come alive & stay alive; an ability to trust 24/7/365. Not always be in agreement, not always seeing things the same way, but always willing to step into a real conversation.
“It’s that sort of approach that helps assure the next generation to lead a business comes from the next generation of family – and that families stay happily connected through the generations. ”