There is a widespread belief that most businesses slow down, or
plateau as they transit to third generation. I have had interactions with
many such family business owners who believe there is something that begins to
blow headwinds with time. Most unclear about what that is all about, and
attribute to competition, pricing, consumer preferences or a sales issue.
The issue is much more internal than external, as there is a
constant struggle and conflict between legacy and its contemporary relevance.
Inertia or homeostasis suppresses action more often than not, and resistance to
change begins to impact the organizational ability to be adaptive. Hardening of
belief systems and the glorious past only deter forward movement into the
future in the newer context. These could be classical symptoms of accelerated obsolescence
and fading malleability of the firm to the evolving context.
Experiencing
something similar in your business? Interested in exploring possibilities and
initiating changes to ensure relevance, longevity and sustained performance? It
may be a good time to seek professional help in order to navigate through this
phenomenon and make course corrections. Visit ( www.thegrowthevangelist.com ) or
call +91 9893222222 in confidence.
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