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Career Development for Next Generation Family Members I Belfast I Familosophy

Dec 17

Not all entrepreneurial stories are "rags to riches."

Many high-flying entrepreneurs came from from upper-middle-class families. While they don’t owe their success entirely to mum and dad, without their parents’ help, be it financial or otherwise, they may have never gotten their ventures off the ground. Research has shown that 75 percent of entrepreneurs from 48 countries said that their family was involved in starting their businesses.

When it comes to starting a business, family money and connections are critical. It can, in some cases, act as a financial safety nett in the event of failure. As much as economically, the family environment that has a big impact on the startup entrepreneur.

Families, not just family businesses, drive entrepreneurial behavior. Families can act entrepreneurially together to create growth, and foster entrepreneurship and positive impact in society.

This is not a natural occurrence. While the entrepreneurial spirit of the founder may be passed along to their children, the spirit and drive may dissipate in subsequent generations. Transferring the founding generation's creativity and innovation to succeeding generations is a monumental task.

In some families, the elders were able to build intergenerational bridges to their grandchildren by mentoring them as young entrepreneurs. The value created in doing that is far more than financial.

Consider the Following: Does your family ‘remember’ the entrepreneurship of the founder(s)? What do you do to foster the continuance of the entrepreneurial spirit? (e.g. exchange stories? invest in entrepreneurial risk asset class? mentor entrepreneurs of the next generation?)


Are you looking for advice on how to make your family business in Belfast operate better? David Werdiger is the number one choice when it comes to Belfast family owned business protocol help. Mr. Werdiger is helping hundreds of family owned businesses pass the torch using his famous Belfast Familosophy techniques

His market is two-fold:

Scenario #1: The older generation wanting to work with the younger generation, bring them into the company, teach them how to run things, and then retire from the office, but not the income

Scenario #2: The younger generation wanting to jump into the family business, but to be able to contribute and be heard, and not having to “wait their turn” before they can begin to help run the business.

Looking for great advice for your family-owned and family-run business? Find out how David Werdiger’s Familosophy Newsletter can help answer your questions and guide you through turbulent times. To subscribe go to

Visit David’s Website at: or his GMB site at: