How do I raise my children to thrive in a family business environment? It’s a common fear among parents—that their children won’t survive, much less thrive, in the family business. How do you prepare a child for the demanding pressure of running a business? How do you prepare them to take over ownership? Joe Astrachan recommends starting with developing self-esteem.
Self-esteem is key to being a good communicator, Joe claims. Without it, one becomes too concerned with what others think. They lose confidence in their decision-making skills, and they lose their ability to be honest. Self-esteem not only enables strong communication skills, it also allows us to accept failure and learn from it. How else can you prepare your children for the family business environment?
Learn three additional tips in “Understanding the Business Family – Part II.” Be sure to read until the end. Joe shares an analogy about raising children to be responsible owners.
Read about how to raise children to thrive in a family business environment here.
Become a Member for Your Expertly Curated Advice
Joining the Family Wealth Library means access to the information the legacy builders need to navigate family dynamics and protect our wealth. We can keep what is ours by managing familial challenges and building trust and transparency.