There is no best-practice when it comes to growing a company. Not really. The stories that tell about the expansion of family businesses prove that though there are undoubtedly common denominators such as mindset, discipline, and creativity, many different strategies have worked in many different cases and to various degrees of success.
In this issue’s special feature section, we first take a look at the different levels on which a family business can grow, learn about the necessary mindset for growth from business tycoon Taher Gozel, and from second-generation family business member Simon Karo about healthy growth.
Featured are Maja Baumann, fourth generation family member of Swiss bank Vontobel and Anna Gaia, CEO of Utopia, who speak about entrepreneurship, innovation and the role of the next generation.
Speaking about a family business that has not survived it is certainly more difficult than highlighting success. Courageously, fourth generation family business member of T. Saveker and Sons and founder of Families in Business, tells us what it is like to be the one closing the doors of the family factory for good.
Exciting entrepreneurship stories from India and Trinidad & Tobago shared byVaibhav Lodha, founder of ftcash, and Dominic Hadeed, founder of Blue Waters, show that we do not always inherit a business, but sometimes the right mindset gets transferred to the next generation leading to great things.
Finally, we are introducing our new format called “Psychology” in this issue and in our Education section we speak to Annie Koh and Esther Kong about family businesses in Asia as well as the state of the family business research worldwide.