Next-generation members are champions of innovation

Members of the next generation have a special voice in the family. They are young and just starting out, but they are also the heirs to the business and as valued and beloved family members, they get the ear of the leadership in a way that does not exist in non-family companies. This dynamic creates a unique opportunity for innovation and family adaptation.

Unfortunately, many families do not facilitate the exchange of ideas between generations. Elders expect their children to wait for their turn to lead patiently and, above all, quietly. The journey of the champion is immeasurably harder if the family is dismissive of his or her potential contributions.

Two of the most universal qualities of long-lived enterprising families are their ability to create a respectful dialogue across generations and their investment in adaptation and innovation.

An essential quality of family champions is that they are not given power or authority; they develop it through their initiative and persuasive approach to the family. They see a need and feel passionately that their vision is the right one. To succeed, they must educate the older generation.