My grandfather was a plaster mason. He left rural North Carolina in the early 1920’s in search of opportunity and learned a trade. By 1927, he had built his own apartment building in Newark, NJ. He and his family lived in one unit, and he rented out the others. Through his hard work, he was able to send his four children on to higher education. He was truly a man ahead of his time. Unfortunately, when he died, his business died with him.
Making that next-generation transition is not easy. According to Inc. Magazine, fewer than 30 percent of family businesses survive to the second generation, and just 10 percent hold on through the third. One way to greatly increase the odds is to embrace new technologies and new processes.
While there is sometimes conflict between the “old ways” and “cutting edge” methods, the most successful enterprises are the ones that incorporate the best of both worlds. More frequently, businesses in traditional industries are making use of modern techniques to reach new customers, manage projects and improve customer service.
A great example of a multi-generational business is PG Builders. Founded in 1978, this home remodeling and roofing company has combined craftsmanship, work ethic and service (values that never go out of style) with new branding (which we helped them develop) implemented across print, web and social media. As a result, they have a unique advantage over their competitors in terms of reaching top customers and completing projects on schedule and under budget.
Although my grandfather passed away before I was born, I believe that I’ve inherited his independent spirit and entrepreneurial vision. My Dad, a retired engineer, saw my enthusiasm for science at a young age and exposed me to computers and technology before there were smart phones or web sites. Thanks to them, I was able to build on the foundation that was laid for me to create a business that required brains, creativity and hard work, in an environment that they would never have imagined. This Father’s Day weekend, I salute them, and all the other father figures and mentors who paved the way for the opportunities I have today.
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