It is estimated that most family owned businesses go under after the third generation takes over. Many experts predict that it is because the third generation has a lack of motivation and drive. Everything has been provided for them without question.
It was a relief to hear about Cook’s Pest Control considering these circumstances. This is a private pest control service that is one of the largest in the nation (even though only offers service in three states).
The third generation did not want to be a part of the daily running of the company so the forth generation is getting a shot. But it is not being hand fed to him. Instead he is training from the ground up in ever level of the company before he will have the chance to run the company.
Not only is it impressive that this fourth generation is being required to “do” something to gain his position but he is doing it. This tells me that he has no sense of entitlement but understands hard work as an important value to survival.
It only leaves me wondering how much trouble this country would be in financial if MORE parents and grandparents had just trained up children in the same way.