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Generation Next
December 1st, 2024
by Bill Boyajian

It takes a considerable amount of confidence and courage to create a business on your own. Most people don’t understand or appreciate the risks and effort that entrepreneurs take to get their start. An owner often has to bootstrap that effort, doing whatever it takes to make it a success, including working long hours and weekends to get over the hump.


First generation business owners often have to sacrifice living standards to reinvest profits back into the business in order to build it. Having a spouse who understands those sacrifices and supports building the business over temporary lifestyle considerations is what often makes the difference between success and failure.


When second generation family members join the business, there is often a lack of appreciation for what it took to start the business in the first place. The younger generation’s view is often clouded by what they see as outmoded technology, a lack of modern marketing tactics, or old school thinking that is holding the business back. Truth be told, the business often needs a new set of considerations beyond those of the original entrepreneur, who likely started the business with shear guts and determination.


The key to success in any business transition is the mutual understanding and appreciation of what each brings to the firm. When this happens, the complementary talents of each generation support the business to maximum efficiency and effectiveness. The business grows with hard work, smart work, and the harmony that would be impossible to create without the time-tested experience of the entrepreneur and the new, creative thinking of the next generation.



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“I needed help orchestrating a succession plan for our business. I had heard that Bill Boyajian specialized in assisting owners to transition their business to the next generation. He knows how to bridge the generation gap and deliver what each needs to hear. I would recommend Bill to any business owner who needs advice on succession planning from a trusted outside professional.”

–Charles Denaburg,
Managing Partner,
Levy’s Fine Jewelry
Birmingham, AL

"Our family needed some guidance on business transition and succession planning. We asked Bill Boyajian to help us because we knew we could trust him to tell us what we needed to hear. Bill became a valuable resource for our company and our entire family. He has the ability to meet each of us where we’re at and it has served us very well."

–Ceylon Leitzel
Leitzel Fine Jewelry
Hershey & Myerstown, PA

“We needed a plan to transition our business to a non-family member and we asked Bill Boyajian to help us. His experience in the area has really paid off, but we didn’t expect the added value of putting us together with a financial planner who helped organize our retirement needs. We now have the fundamentals to transition our business successfully, and we have Bill to thank for it.”

–Ernie & Debbie Cummings
Kizer-Cummings Jewelers
Lawrence, KS