Dann Van Der Vliet is the John and Dyan Smith Executive Director of the Smith Family Business Initiative (SFBI) at Cornell University. Cornell has been named as one of the “25 best schools for family business” by Family Capital in 2015. As the founding director, Dan guided the launch and growth of one of the leading educational centers for family business. He designed and developed the Leaders in Family Enterprise course, and he also teaches executives and next-generation leaders through the Cornell’s external education and eCornell programs.

Under his tenure, the Smith Family Business Initiative has developed the Cornell Case Competition for Family Ownership, the Mentors Forum, and the Family Innovations Summit.

SHOW SUMMARY 

In this episode of Disruptive Successor, host Jonathan Goldhill is joined by Dann Van Der Vliet, the Executive Director of the Smith Family Business Initiative at Cornell University, to discuss the Rising Gen Survey. This survey provides unique insights from over 200 college students about their perceptions, challenges, and aspirations regarding family businesses. Key topics include the importance of communication, succession planning, and the qualifications necessary for the next generation to take over family enterprises. The episode also explores the survey's demographics, the cultural impacts on family business continuity among international students, and the evolving role of technology. Dan shares surprising findings and emphasizes the need for effective governance and addressing generational concerns to ensure smooth transitions in family businesses.

KEY TAKEAWAYS

• Communication is a top concern among next-gen family business leaders.
• There is a need for next-gen leaders to feel qualified and credible when returning to the family business.
• Cultural differences significantly impact family business dynamics and the likelihood of next-gen participation.
• Technology brings new opportunities for growth and scalability but also challenges for traditional family business structures.
• Educational programs play a crucial role in bridging gaps and preparing the next generation for leadership in family businesses.

QUOTES

• “Legacy can be a bit of a burden for the next generation.”
• “15% of next-gen leaders cited communication as their number one concern.”
• “Technology has allowed us to be much more remote with what we do, but not all businesses can be run remotely.”
• "One disruptor is when an unexpected sibling returns to join the family business."
• “How do you even attract next-gen leaders? Sometimes it’s really about letting them come to you.”

Connect and learn more about Dann Van Der Vliet.
https://www.linkedin.com/in/dannvdv/

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