When the family hierarchy decides to sell the business, members of the younger generation are often left out in the cold. I was caught in just such a situation, which few outsiders can, or want to, understand. âYou have your entire working life ahead of you,â outsiders told me. âNow you have the flexibility [that is, money] to do what you really want.â
Great! The only problem is that what was once a clearly defined career path quickly becomes a source of confusion. Bottom line: Younger family members must go out into the open market, and it is much harder than anyone would think. The offspring of a family business carries baggage he or she is ill-prepared to deal with. What most outsiders view as an unfair advantage is actually a disadvantage for the child of a family business.