A key element to a successful business transition between generations is to have conversations and begin to understand what interests and motivates the next generation. Believe it or not, listening and watching the next generation can provide many great insights. I have tried really hard to understand the new generation, with some limited success. Take for example, one of the most popular trending videos today, about Bird Box and taking risks?!? What does it mean? Or is it a piece of art and a fun romp? Watch it and see what your visceral reaction is to it? Link below.

Bird Box memes

The point of all of this is to say that to have a productive conversation, you often have to put yourself in the shoes of the other person. This can give you insights that you otherwise may not have. Often, discussions between generations in family businesses, is more like a “sermon from the mount” and less of a conversation. Try to create an environment that would be conducive to a conversation. You may learn something from the experience, while also teaching something to the next generation.

Good luck with this.

Learn, think, apply!