When Do You Introduce Your Children To The Business?

Family and business life are often intertwined but also removed. The children see the impact that the business has on family life and how the ‘business parent’ is often at work more than with the family. And children can veryquickly build negative views about the family business and being in business.

Active Knowledge Question:

Have you ever reflected on how the children view the family business through their eyes and experiences?

If you are in a family business whether 1st, 3rd or 10th generation, you are hopefully there because you enjoy being in business. You like creating and building something, being your own boss and allowing your entrepreneurial spirit a bit of freedom. There is no comparison between being responsible for your own destiny and working for someone else.

And if you are fortunate enough to be building upon what other family members created, then you also know there is a family pride in the existence and success of the business. It is part of the family and the generational transition which supports the growing family.

I have a strong bias for family business, and I believe they can provide the glue that binds families over generations, create vocations (not just jobs) and deliver economic security.

But we often don’t sell the benefits of family business to our families.

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All the best in the success of your business,

Richard Shrapnel