Some founders consider involving their children in the business after they graduate from college. While this is a good idea, it’s often too late, because by that point, the children’s interests have typically already been shaped outside the company. This article discusses why adolescence is the ideal time to instill a sense of belonging toward the family business without coercion.
Why Is Age 12 So Important?
Waiting until a child is an adult to introduce them to the company is usually too late. Adolescence—from ages 12 to 15—is an effective period for building a connection between the child and their parents’ work environment.
Before the age of 17, founders have a golden opportunity to introduce their children to the atmosphere of the office or factory. The goal is not to make them work, but to help them become familiar with the business ecosystem that has been built.
Introducing the Business in a Fun Way
The main focus of early exposure is to create a positive impression. Involve children in activities that don’t immediately place a heavy burden of responsibility on them.
Inviting children to iftar gatherings or gift-giving events is one way to engage them in a fun way. Let them bring their school friends along so they don’t feel awkward. When they see their parents giving back within the company, a sense of pride will grow within them: “This is our family business.”
The Reality of Preparing a Successor
It’s important for business owners to remain realistic. Not every child in the family has to become a successor, but introducing them to the business early on is a form of long-term preparation.
If the founder has three children, at least one will likely have an interest in continuing the family business. Early exposure serves as a backup plan, ensuring that at least one person feels called to preserve the family legacy.
Encourage and introduce the business to our children when they’re 12 years old. Take them to the office and the factory so that the idea “Oh, this is our company” takes root[1]
David Bingei, Fidelitas Advisors
Successful succession begins with an emotional connection. By introducing the company early on through a fun approach, the founder is paving the way for the business’s continuity without burdening their children in the future.
