Taking Africa as case study of place, lots of businesses existing are far behind being trans-generational. Marvelous business have existed and is still existing but all been bind/revolves round the owners of such business for their survival.
And how sad this can be that when death lays a hand on such business owners, their business is left to die gradually with them.
A right mind should think of how to get this problem solved, such that when a business owner dies, his or her business doesn’t die with them – that’s how one can install all features of trans-gene rationalism in his or her business.
By the way, what does it mean for a business to be trans-generational? Since this piece is made to review and present detailed information about this topic, I think you need take a seat, reading along to digest every piece of information as I talk you through.
A business is said to be trans-generational when its settings are done in a way such that its life span goes beyond more the startup century. It’s more like building a business that can lasts forever, that’s to say, attaching everlasting to a business setup.
A business is trans-generational when it is said to survive after its owners or co-founders are long gone, off mother earth.
Of course, here in Nigeria, lots of young businesses spring up daily. It hurts, when you recall that you can barely think of two businesses or companies among-st the numerous in the country that has survived over a time range of 50 years.
Foreign businesses are never made in such settings, as that around Africa.
Take maltina, fanta and cocacola as a sample. The companies that produce such products have survived over a hundred years as only history harbors the name of their founders. My grandparents enjoyed her drinks, so also my parent and myself. Generations yet to come will also be glued to enjoying her drink. This is achieved because such companies are trans-generational, made for generations – not just the current generation but generations yet to come.
If you own a company or a business and you aren’t thinking of making it trans-generational – hi dear, can I tell you that you are simply wasting your time. Soon, your efforts will be in vain, no legacy laid….you just become like one wetting a stone.
The good thing you can do for yourself and the society at large is to think like an entrepreneur. Ask the big question of ‘how one can make a business or company trans-generational’, that’s one that can stand out for you, even when you’re nowhere to be found on earth’s surface. That’s the legacy.
Since our principal aim is reaching out to everyone as best as we can with wisdom, of course you need not be told we’re always here for you. I will drop you some clues and tips on how you can elevate your business, making them trans-generational.
Ways to make your business trans-generational
- Spell out ownership and management: the first thing you need do in making your business or company trans-generational is to clearly separate ownership from management.
You need this mindset of ‘oh yes!!! Am the owner of vim company but I can’t interfere with vim company’s management’
The management organizes the company and not the owner, the management works out the company’s future even without the presence of the owner, for it must possess its own structure, probably a structure in which the owner and his co-founders or team setup for the company.
Once this is rightly spelled out, the business doesn’t need the owners to survive and of course the management is prone to stuffs like recruitment and staffing. Meaning – the departure of a staff in the management system doesn’t mean the system isn’t going to run.
This basically is the base for making your business trans-generational.
To be continued……