Though family business sounds like safer approach for career and securing one self for life time but not so much in this century. For this generation, their family businesses is at least a generation older, ideas are not compatible nor are the views and that is the main reason of decreasing trend of youth to join their family business. Today’s generation is dynamic; they are not easily impressed by the orthodox methods and selective lines of business.
Rather than leaving the family business to extinct, one can take up the role and make it interesting! Yes, use your knowledge and apply in best modern way possible and make it work! You see people these days condemn family businesses but you are very much in a favourable zone if you see things wisely.
See why it is a good idea to be in the business and yet make it happening –
- No Risk: You already have a strong financial backup, you need not start from the scratch. It is a built runway, you just need to take off.
- Innovate: Since you belong to this generation, you are more creative than your elder members, use your ideas and expand your business in the areas you find are interesting for you.
- Networking: Who says that a ‘Sari ki dukan’ cannot be modified into a complete boutique? Use new and old contacts and build more out of it. Expansion is always easier in family business, that’s why your parents wanted you to join in the first place.
- Use Online Platform: Believe it or not, nothing is as cheaper and widely reached as internet. It is an easier way of networking and marketing. Be a 5th generation man and utilise the age of technology.
- Travel: If you think that family business forbids you to move out from your hometown, then you’re wrong. You can find tons of excuses to travel, not just within city but you can make foreign trips as well. Making business trips and developing contacts worldwide is an accepted business strategy.
By joining the right dots, you can follow your passion this way too!