A fifth-generation family enterprise had a problem: massive age differences. Among its 25 members in Gen 5, there was a 20-year age gap. Gen 6 had an even greater discrepancy: a 35-year difference, with the oldest in Gen 6 older than the youngest members of Gen 5. The family enterprise couldn’t make decisions. It fell apart.
Today, blended generations—a business in which multiple generations work together—are becoming more common. These family enterprises face a unique set of challenges. Yet far too many families aren’t prepared to handle those challenges.
Here are four unique challenges that blended generations will face. The article also walks through how families can better manage these challenges.
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