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When Entrepreneur thought about doing a family business special, the concept wasn't new. But India is a fairly large market with family businesses contributing about 70 per cent to the GDP. How each generation thinks new in the business is something worth an eye for entrepreneurs. Adding layers in new feats, new segments, new ideas and newer opportunities is far more interesting from a group's perspective.
The Genxers of today are different from yesterday and will be different from those in the future. When you are a start-up, it might seem okay to blow up some money and say I failed. But if the money belongs to your family and a family that has a name with which you are recognized then things might work differently. Putting everything at stake doesn't come easy to GenXers but they have done it all.
The stakes are always high as you are constantly compared to the stalwarts from the previous generations. To make a mark, they have to constantly innovate around the existing business as taking the business forward isn't much of a challenge. They don't just do it, think through it. The current issue is an ode to such entrepreneurs who thought about new innovations, a new start-up outside the family business umbrella, or creating a highly profitable enterprise in the existing family business set up. Read on to find out more.
(This article was first published in the June issue of Entrepreneur Magazine. To subscribe, click here)