3 Ways Family Businesses Give Female Millennial Entrepreneurs an Advantage

During the second leg of The F SHOW World Tour, I visited Asia and interviewed dozens of female millennial entrepreneurs. I couldn’t help but to notice that the entrepreneurs that formed part of a family business had a huge advantage. Below are 3 ways family businesses give female millennial entrepreneurs an advantage:

  1. You acquire knowledge on how to build, run and grow a business. While in Jakarta, I met with Anandita, the business owner of a bakery and Italian restaurant, and the daughter of an Indonesian luxury resort chain owner. Anandita shared that she learned quite a bit from her parents and was now implementing her learnings and making her businesses top-class and successful.
  2. You acquire credibility in your industry. In a conversation with Jang, an intrapreneur at one of the largest juice companies in Asia, we talked about her Forbes ranking as one of the most powerful women in Asia. Jang agreed that she is putting in the work to live up to the title, and yet, also believes that the credibility came from being the daughter of the company’s founder.
  3. You acquire authority. In a developing country, such as Myanmar, it makes a big difference to lead a popular food-chain. In Yangon, I met with female millennial intrapreneur Katie. At the time she was getting ready to take on her father’s role as CEO of her family’s food-chain. Katie shared that her father being her predecessor had given her authority of the entire company. Everyone is looking up to her now.

Be it authority, credibility or acquiring the skills needed to build, run and grow a business, coming from a family business gives entrepreneurs a huge edge on the competition. More than an edge, it enables intrapreneurs to also play their part as entrepreneurs. The mix keeps business interesting, challenging and fulfilling.

Lolita is a wife and a millennial who loves food, travel and tech. She is a sales tech intrapreneur by trade and a social entrepreneur by nature. Lolita produces, speaks and writes, at times. She lives in sunny San Diego with her husband. Follow her on Twitter: @LolitaTaub

For more female millennial entrepreneur insight, visit: youtube.com/thefshow

Originally published at www.huffingtonpost.com 4 August 2015 by Lolita Taub.

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