STRATEZIGING by Emanuele Sacerdote
If we look at the average life of historic companies and those over a hundred years old, it is extremely clear that they are companies in which there is no presumption of immortality. The average life of the founder and his successors is decidedly lower than the life of the company (the same reasoning can be done with the life of the sovereigns and their kingdoms). Which leads us to the simple conclusion that, to guarantee the continuity of the family business, a culture of regular succession must be created between the generations in power and the younger ones to come. Without this type of mechanism there can be no family continuity and stability.
To carry out this succession of new heirs-entrepreneurs there are two steps to think about. Where does the handover take place? Technically the handover is a formal protocol that lasts for years. The real handover is informal, it begins with the new generations' age of reason and is structured with a transfer of know-how, but also with an intense transfer of memories, languages, values and behaviours. This type of transition occurs mainly at family dinners, on Sundays, on vacation, at parties, while traveling and, what matters, is the strong ability to establish empathy and to create an effective communication system between the parties involved.
Who should educate thea newa generatione? Generally the parent-entrepreneur (or another relative) is very busy in the running of the company. Here a fundamental role is revitalized, that of the grandfather-entrepreneur (perhaps also the founder) who probably has more time and can take on the burden of ferrying the new generation into the company. Without intending to directly promote Balocco products, the advertising "Good for generations" tells of this relationship mentoring between the grandfather and the grandchild in both a rational and an emotional way.
All this to say that the presumption of immortality can be cured with proactive and critical attitudes and behaviors to the transfer of knowledge and values with a long and conscious process of sedimentation which is made up of informal and formal phases.
The Italian family business is guided by doing, doing, and still doing. Hence one of these tasks of doing must also be the commitment to the handover by dedicating time, determination and perseverance also in cultivating the new family members and the new entrepreneurial class.
Confucius said: "Sand your plan is for one year, plant rice. If your plan is for ten years, plant trees. If your plan is for a hundred years educate the children.”
All the Best!
