I Don’t Wanna Grow Up: The 8 Challenges Facing the Next Generation in Family Business

By Greg McCann and Jill Shipley.

Published by The Learner Collection

Format Price
Article: Print $US10.00
Article: Electronic $US5.00

A significant percentage of college students majoring in business come from families that own and operate businesses. As a group, these students face greater risks, opportunities, and challenges. For many, their most significant career decision is if, when, how, and why they should be involved with the family business. Unfortunately, few universities do anything to help this group as a distinct cohort, and yet the institutions that do are more likely to focus on academic study versus practical application. The purpose of this article is to both outline the challenges these students face and suggest strategic advantages for universities willing to better serve this stakeholder group.

Keywords: Family Business, Education, Next Generation

The International Journal of Learning, Volume 15, Issue 1, pp.185-192. Article: Print (Spiral Bound). Article: Electronic (PDF File; 589.079KB).

Dr. Greg McCann

Professor, Family Business, Stetson University, Deland, Florida, USA

Dr. Greg McCann is a full professor at Stetson University. He is the founder, creator, and director (1998-2006) of the Family Enterprise Center which has not only been acknowledged with four international awards, but has created the nation’s second minor and first major in family business. He is a lawyer and CPA. Beyond academic publications he writes for various family business publications with his most recent book for the next generation entitled: When Your Parents Sign the Paychecks (JIST). He is on the board of directors of the Family Firm Institute (2005-2008), founder of the McCann Consulting Group, and noted speaker on topics related to family business.

Jill Shipley

Senior Leader Family Learning, Private Wealth Education, GenSpring Family Offices, Jupiter, Florida, USA

Jill Shipley is the Director of Next Generation Education at GenSpring Family Offices. She works with many of the nation’s wealthiest families with a focus on helping prepare family members for life with wealth. She speaks, writes, designs and delivers programs on a broad array of topics such as financial education, family communication, communicating wealth transfer intentions and personal and career development. Prior to joining GenSpring, Jill served as the Assistant Director of Stetson University’s Family Enterprise Center and taught courses on family business.


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