How to Thrive in a Family Business Business Lessons from my Baidyanath Journey

In your opinion, what is a family business? What are its advantages? Why do a large number of family businesses fail? Can a family business be used to your advantage?
Against the backdrop of a company that has been around for over a hundred years - the Baidyanath Group - this book answers these questions and many more about how family businesses function specifically after the third generation.
As each business passes through the generations and each generation passes through the different stages of life - Brahmacharya, Grihastha, Vanaprastha and Sanyas - the transition is not only difficult but also painful, both financially and emotionally. The losses that this generational paradigm entails are not only monetary, but also familial. Do family businesses suffer from the elder-son syndrome, or is early division considered taboo? When to plan for succession and should ownership be divorced?
Surprisingly, the business behaves as the generation that runs it does. In an identical situation, the decision would be different depending on the generation making the decision. Life is about the choices we make. If our decision is right, it becomes a 'virtue' for the family and the company. If it is not right, it becomes a 'sin'.
The book serves as a guide to what each member and each generation of a family should not do. Ajay Sharma, a third generation businessman, weaves his own experiences with thorough research and knowledge on the subject of family business and identifies thirty actions that are the biggest sins that hinder the prosperity and continuity of any family business. He is convinced that this book will be helpful to everyone - not only to the shareholders of family businesses, but also to the millions of people who work in these family businesses and who are the very life force.