While the traditional view of family business is that first-generation business founders are the entrepreneurial dynamos whose work and energy drift away in subsequent generations, the second generation of a family business doesn’t have to live in the shadow of the first generation. Second generation leaders are often the unsung heroes in a family business. They play a pivotal role in professionalizing the business and building out new initiatives, building on the legacy of the first generation to develop a great family, not just a great business. Successful second-generation leaders tend to focus more than the first generation on gathering and aligning disparate family members to create a strong family pillar alongside a well-developed enterprise pillar. The second generation is therefore crucial to pivoting the family away from a single-minded focus on business development to a broader set of initiatives where family communication, governance, and cohesion are fostered. With proper support, coaching, and recognition, the second generation no longer needs to be considered second best.
The Power of Collaboration: How Multi Generational Family
The 21st Century Dilemma: Preparing the Next Generation for
Sustainability, Free Full-Text
The Soft Rules of Family Businesses
The Secrets to Success: How Multi Generational Family Businesses
Commentary: Latinas are breaking generational curses. So why are
39 Types of Diversity in the Workplace to Know
Nick Tavantzis on LinkedIn: Kastoria - my family's ancestral home
How Much Does it Cost to Start a Gym?
Preparing the Rising Gen
Preparing the next generation for business su
Complete Family Wealth: Wealth as Well-Being (Bloomberg): Hughes
Preparing the Rising Gen
Caught in the Crossfire: The Bridge Generation in Cross-Cultural
Family businesses - HBR