Building a family business is difficult & building a legacy is far more difficult. you need to learn how to handle & build family legacy and today we are going to discuss the important life lessons you can learn from Gucci Family who used to own Italian Luxury Brand Gucci. Recently the movie House of Gucci was released which is a bio pic on rise & downfall of gucci family business; it’s amazing movie. for this video i’m going to used movie as a reference along with other historical events to teach these 3 important life lessons.
Lesson no 1: Greed is Bad for Family Business
Greed is always bad for any business. Money is not the root of evil, it’s greed for money which is root of all evil. now you might ask how to avoid being greedy & the thing is you don’t because greed is human trait & every human is little bit greedy in small healthy amount but problem arises you are too much greedy so much so that you will go to any extent to fullfill it, so the solution to greed is simple, never allow your Greed to decides your action because greedy thoughts can come & go but actions taken under greed can never be reverted until-n-unless you have time machine.
Lesson No 2: Family values are more important than money
teaching right family values to your kids is single must underrated thing you can do as a parent. when it comes to billion dollar empires there is old saying in europe that,’first gen builds, 2nd gen expands & 3rd gen blowsup & destroys’. this pattern is seen in most rich family who suffer down fall like the gucci family. building right family values & right sets of moral codes among family members is essential espicially in todays era when we are seeing record no of billionaires is on rise each & every year.
Lesson No 3 : Trust is Everything
in last 1000 years of human history, do you know why massive emipres fall apart inspite of being powerful on outside. weather that be a business empire, a fruitfull relationship or decade long friendship, anything can fall apart with single point of failure, i.e Trust. Trust is everything & it is internal core, weather that be family business, relationship with your spouce or friendship. Trust is Single most important Core of it & when there lack of trust; everything fall aparts. so remember to focus on building trust.
