Wisdom beyond the family business
We all hold in a delicate balance the family, business, and the individual paths we choose to walk.
As you know, I’m deeply passionate about the concept of generational wisdom, particularly in the context of family businesses. It’s a topic that touches many of us, whether we are directly involved in a family business or not. The heart of the matter lies in understanding and nurturing the individual talents and interests within our family, especially when they diverge from the traditional path of the family business.
Each family member brings unique gifts and aspirations to the table. The challenge — the opportunity — lies in supporting these diverse paths. Shifting our perspective from a singular focus on the family business to a broader, more inclusive view of our family members’ potential isn’t easy.
In my observations and experiences, it’s easier for families to unintentionally create divides. Those who choose different paths can sometimes be viewed as the “black sheep,” separated from the family’s core activities. However, I believe in a different approach — one of togetherness and shared wisdom. This approach is not just about supporting each other’s business endeavors but about nurturing all aspects of our family members’ lives.
Imagine a family dynamic where wisdom, experiences, and stories are shared across generations, transcending the confines of the family business. Such a dynamic fosters a deep sense of togetherness and support, allowing each family member to pursue their passions, whether they align with the family business or chart a completely different course.
A key element in this journey is capturing and preserving our family history and stories. These narratives are more than just tales of the past; they are the bedrock of our identity and purpose. They offer us a sense of continuity and resilience, especially in times of upheaval or change.
As you’re navigating the complexities of family and business, remember the importance of broadening your focus. By embracing the diverse talents and aspirations within our family, we strengthen not just the business but the family itself. You can build a legacy that goes beyond business success to encompass the richness of your family’s shared experiences and wisdom for lasting generations.
In this podcast episode, we talk about how to create a resilient legacy.
Oh, and happy thanksgiving! 🦃
How to get wisdom beyond the business
In business-owning families, it’s vital to recognize that each of us has unique ambitions and interests. For instance, I might be drawn to cooking rather than furniture, or whatever the business operates. It’s essential to support these individual paths by sharing our collective wisdom, teaching valuable skills like leadership and decision-making, relevant both in and outside the business. This approach helps each family member thrive in their chosen field, enriching the family and extending the legacy. It’s about nurturing individuality and ensuring personal fulfillment and success for everyone, whether they choose to stay in the family business or pursue different ventures that matter to them.
What caught my attention
Legacy of Love
As a family, the Spencers embark on an annual trek to Florida for vacation. Sometimes we do it the Griswold way, by family truckster. Mandy would prefer to fly and get to Disney and the beach as soon as possible! I like the meandering road to see the countryside and visit out of the way cities and towns. One year, I noticed the Baldwin Angus Ranch just north of Ocala, FL, right off I-75. I looked it up and found this fun, multi-generational family story. Enjoy.
Somebody Feed Phil
We love to cook. Eating can be an exciting, anticipated adventure wherever we go. Somebody Feed Phil is a fun, inspiring, and relational view of the world. A perfect series to just let run in the background during Thanksgiving. 6 seasons will not disappoint. Guaranteed!!!
Lillie’s Q BBQ Sauce
If you are looking for a twist to Thanksgiving this year, try this Ivory BBQ sauce. Unsolicited commercial for the founder, Charlie, who I met through one of my college roommates, and his restaurants in Chicago and Destin, FL. His dad runs the smoke house in Destin. His grandmother, Lillie, provided all the inspiration. Multiple first places at the Memphis in May BBQ championships doesn’t hurt! Always have a jar of any of his sauces in the fridge.
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