Ashley Fina’s grandfather was a natural networker. As the founder of his own New York retail store, Michael C. Fina relied on his network to build his company into a beloved Manhattan institution, which counted Frank Sinatra among its customers. But when Ashley first entered the family business, she realized that while her grandfather had a robust network, his sons, including Ashley’s father, who eventually took over the business, did not.
Building Your Own Network When You’re Part of a Family Business
The family rolodex doesn’t necessarily pass from one generation to the next.
May 29, 2018
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Summary.
When you take over the reins at a family business, you might assume that you inherit the family network. While you’re likely to be handed a few helpful contacts, you still have to be proactive in building your own network. Don’t discount contacts and advisors who might reflect your grandparents’ or your parents’ generation’s values. Sometimes their input can serve as a useful proxy for what your grandfather or your mother might advise you to do – without the emotional baggage. Also, make sure you network with your peers in other family branches. Make sure you have two or three close advisors. And be careful of people who might be using you because of your family name. Of course, if your family business is well-known, your last name may open doors for you and there’s no harm in making use of those contacts. The ultimate goal is to glean the best of your family’s network while creating one that is distinctly your own.