The great secret of business families that achieve tremendous wealth and hold onto it for generations is that they persistently promote the entrepreneurial spirit that led to their initial success. That drive — a combination of ambition, sheer will, and the willingness to take calculated risks — is integral to long-term success, particularly in challenging times. One third-generation family CEO we know recently delivered a powerful message to his teenaged next generation when he said, “In times like this, a lot of companies will go bankrupt. But, because we’ve always run our family business on the tenets of entrepreneurial drive and diversification, our family business will survive this crisis and be in a position to prosper in the long term. Learn from this experience and think about what you can do as an entrepreneur.” This is valuable advice, not just for the younger generation as they grow and develop as individuals, but also for the future of the family businesses in gen...

The generation gap can be a problem on a marketing team. This is often because it might be difficult to communicate with team members who are not of the same age range. Many people are not aware that there are simple things you can do to  bridge the generation gap  in your company. If you are wondering what you can do to help bridge the generation gap, continue reading to learn some useful tips and tricks. Setup Team Gatherings If you have a marketing team, you should be proactive and begin setting up team gatherings. These  team gatherings  can be workshops or social events that can help people from all age groups come together. This could be a creative learning project where you give your marketing team lessons on new skills or information that none of them really are familiar with. Team gatherings will help your marketing team come together and work together. Regardless of the age range of your marketing team, the team gatherings can create work-relate...