The Child

A family was happy receiving their first child and parents were zealous in bringing up the child.

On a daily basis the child was given the utmost care and was showered with love. The child was given the vaccines in time and was protected from infections.

At times when a child feels sick, the parents felt the pain. They were very particular about the school, dress and the food the child ate.

Once the child started becoming independent, the parents were busy with their other activities.

 There were days when, the grown-up lad was managing himself in the absence of his parents.

Wait, where are we heading towards from the above words, is it about parenting? No, the child here refers to a family owned business which would have been conceived and started by the elders, this business would have been taken care like the child in this article, at one stage the business is good enough to sustain and earn. At this stage the elders will take the back seat and hand over this grown up child to the next generation. 

The success of the business depends upon how the business is perceived and handled:

1. See it as an Infant & take utmost care which is called the Infant Approach

2. See it as grown up and focus on something else, which is called the Relaxed Approach

Family owned businesses will struggle, if they fail to have an infant approach. Remember, the business was built with care and handed over to the next generation, it becomes imperative for the other generation to hand it over with the same care.

Family business is beyond business, it is built with hard work, nurtured for the next generation and it is a legacy to be retained

M.L. Narendra Kumar