Luke Johnson writes a column in the FT called The Entrepreneur and this week writes about the children of successful entrepreneurs. I guess it is the same being the child of a successful person pop-star, politician, thespian or entrepreneur. I remember reading a book about Benchmark Capital and one of the founders saying that he used to hate rich kids at school and university and now he had produced his own. It is difficult to know what to do and you do not get a second chance.
However in the article published on 6 May 2009, Johnson write “I know of two entrepreneurs who feel that they were swindled out of their birthright by cowardly relatives and slippery lawyers, who sold the family firm”. But are you an entrepreneur because you are the son or daughter of an entrepreneur? I doubt it. Entrepreneurs start and build companies. I guess a better name would be to be Entrepreneur Jnr! There is no provision for Entrepreneur Jnr in Active Equity Companies as there is seldom a dominant family shareholding and the company is floated or sold early in it’s life. It would be good to include Entrepreneur Jnr in a business plan resource.
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