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Posting by: Jacqueline Thompson
Date: May 12, 2009
I recently read an article about family-owned businesses that referenced a survey done by McKinsey & Co. This survey suggested that a firstborn son may be the worst choice to run your family business. This was an interesting concept to me, given the tradition of primogeniture (preference for firstborn males in inheritance).
If one looks at some common characteristics of firstborn children, the words used are: perfectionist, critical, well-organized, reliable, and list-maker. They want to do things right, and take care of others; firstborns have responsibility written all over them! The characteristics of the youngest child, however, have a completely different connotation. Those last in birth order are commonly described as: manipulative, people person, salesperson, and precocious. If the Manning family had a “business” of NFL professionals, the quarterback would usually be considered the head of the team. Middle child Peyton and last-born Eli show very different management styles, yet both achieved the highest level in their business – leading their respective teams to Super Bowl victories. Oldest child Cooper hasn’t had the opportunity to run that show yet.
The descriptions of each child may be stereotypical in nature, but given the two personalities, I would warrant that the youngest child may be the better to take over the family business in a succession plan. Most businesses need salespeople, leaders, and visionaries, rather than rote thinkers, or those who follow the rules. Obviously, there are generalizations at work here, given that spacing and number of the children can be a factor, as can gender. But overall, it just might make sense to put the youngest, the “dreamer” into the lead position, as long as he or she is backed up with the strong support group of the firstborn child!
Has your family-owned business noticed any of these or other traits dependent upon the birth order of the children in the business? Do these traits engender a healthy synergy among the siblings, or does sibling rivalry jump from the family into the business?
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