How Building a First Generation Business is different than a Sixth Generation Business Financially.
How we view money starts at home.
Working in the family business reinforces those ideas as adults.
I see it as such a gift to be the 6th generation at the farm.
At the same time, it’s so interesting to see Kyle building as the 1st generation of his business.
Such great perspective for me to be able to see both from the front row.
From the perspective of money — as a first gen business owner it feels like Kyle has no rules, no unsaid expectations, and no money baggage.
As a 6th gen I feel I have an on-site mentor, examples of situations to learn from, and proven strategies.
From my perspective, Kyle’s biggest advantage is no money baggage and his biggest lost opportunity is no-site mentor.
For me, I feel my biggest con is the mental trap of this is how we’ve done it and the largest pro is seeing examples of what works & what doesn’t.
What are yours?
