| Note to Family Business Owners August 13th, 2026 by Bill Boyajian |
If you own or run a family business and want to usher in a new generation of family members, you have a very hard job. It’s not that you don’t know how to run your business. It’s that you don’t know how to run it while balancing the human dynamics of a new family member entering the business. Generational business transition is complicated, particularly when there is more than one new family member joining your team. But it is still difficult even if there is only one next-gen individual entering the business. Here are four pillars to consider when accepting a new next generation family member: 1) Be a good listener and strategically open to new ideas. Too often owners want to dictate their ideas instead of hearing a diversity of opinions from both new family members and trusted employees. Listening more and talking less makes for a good start. Wait to be the last to offer opinions and remarks. 2) Stay positive and build consensus. Next generation thinking may be the best thing to take your business to the next level. There is always a good reason why family businesses should be turned over to the next generation. Next-gen thinking is often more in tune with younger people who are the heart and soul of your continued business. 3) Balance your traditional thinking with new points of view. Family businesses have been successful because they stuck to their principles and values over many decades. The very best scenario is to insist on sticking with those values while being open to next-gen ideas and ways of doing things. 4) No matter what, the family business comes first. You are supporting the livelihood of both family members and non-family members who have dedicated their lives to your business. You owe it to yourself and your employees to always have the best interest of the business at heart. Family relationships are important, but so is survival of the business long term. Treat them equally and your business will not only survive, but thrive. |
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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



