When asked to describe “family business” in one word, a surprising number of respondents answer with the word “entitlement.” It certainly can be the downfall of many a family and business, and the damage entitlement can wreak on an individual's self-worth might be felt for generations to come. Belonging to a business-owning family brings a certain amount of entitlement that should be expected, yet one should be prepared to stave off the entrapments of all that come with that as well.
You are entitled to love from your family; this is expected. You are not entitled to love from your employees; this must be earned.
You are entitled to responsibility, for this comes with the position you are afforded. You are not entitled to a position in the business; you should be duly qualified, as any other employee would be.
You are entitled to hardship; no great accomplishments ever come easy. You are not entitled to the privilege of power; avoid this at all costs.
You are entitled to be charitable; your good works should strive to make the world a better place. You are not entitled to generational wealth that others have created.
You are entitled to your family's history; cherish it and preserve it for future generations. You are not entitled to your family's future; this must be created by you and your loved ones.
60 seconds on entitlement
Be prepared to stave off the entrapments
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