In today's episode, we have Ravi Machani, Managing Director of the Machani Group, an 80-year-old family business run by the third-generation of entrepreneurs. In this episode, Sartaj and Ravi unpack the secrets of an entrepreneurial mindset, personal and professional dynamics between family members, succession planning, workforce management, diversification strategies and everything else you wanted to know about enduring family businesses.
Insights from this episode:
- What's the secret behind cultivating an entrepreneurial mindset?
- How does one enhance the longevity of a family business?
- How to experiment with intrapreneurship at a legacy business?
- How can family businesses participate in the 4th Industrial Revolution?
- How do high-net-worth families go unicorn hunting?
- What's the one business opportunity an 18-year-old should work on today?
- How do family business groups approach succession planning and income splitting?
- Should family businesses be professionally managed with promoters solely being owners and not operators?
- Why do family businesses treat their workforce differently compared to corporations?
- How should family business groups approach diversification?
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About Sartaj Anand: Website | Facebook | Twitter | LinkedIn
Sartaj Anand is a proven entrepreneur and thought leader with a decade of experience spanning management consulting, social impact and media. He has an unreasonable dream to positively impact 1 Billion human lives within his lifetime and enables individuals and organizations to create exponential impact globally.
What is Business Beyond 2030?
Business Beyond 2030 is the show where we explore the socio-economic and technological revolutions shaping our world and the role of business in realizing the future. Business has the transformative ability to move all of us from today to tomorrow with a shared purpose. And this show unpacks complexity with the world’s smartest and most compassionate business leaders and decision-makers as they deliver on their promise of abundance.