The challenge of 2nd generation businesses #2

 

Lack of exposure outside of the family business. 

Some 2nd generation business owners started their career in the family business right after graduation. They have never worked for someone else other than family. They have not played the role of just an employee. They have always been the scion, the successor. They have a world view which is different. It gives them different insights, and also comes with limitations and blind spots. 

If this has been your path for the past 20 years, you can't go back to change that. What you can do is to spend time with people who have walked different paths. Not just your employees, but also friends with whom you have no business transactions or business interest. Acknowledge you want to leverage others' experience, and that will save you time and pain.