In India, 15 of the top 20 business groups are family owned; which makes it, the third highest in the World.
More than half of the Indian family companies that Credit Suisse surveyed generate revenues in excess of $500 million, with the majority of these businesses located across the sectors of IT, financials and industrials.
With the above statistics and data, here comes possibly the most insightful and behind the scenes book by Sonu Bhasin who has used her vast experience as a senior professional in the Corporate and compiled it in “The Inheritors”.
Foreword, by Anand Mahindra: “I am sure that The Inheritors will provide insight and inspiration not only to members of family businesses but also to anyone who aspires tone an entrepreneur. Learning from someone else’s story is a very powerful incentive to fashion your own.”
The book is based on some of the most successful entrepreneurs of top brands like Dabour, Max Group, Luxor, Marico, Berger Paints etc.
It starts with these mighty empires and their internal workings. It touches upon the leadership and digs deep into how initially every other family business inculcated patriarchy and nepotism.
In a family business, a clear line of leadership is an asset. Many fine businesses have failed due to the lack of an accepted patriarchy.
The book focuses on the culture, family politics, business rivalries and ego wars. Struggles, pitching ideas, funding, distribution and managing the diverse market remains the spotlight of this book.
‘Nothing comes easy, not even the legacy for the Inheritors.’
While, being handed over the legacy has its fair share of advantages, but carrying it forward and growing it further could well be stressful due to higher expectations and greater stakes. This book throws light on this subject and touches upon various such views.
It felt a little discomforting to find very few stories of women entrepreneurs in this Book but you later realise the current scenario of the business houses is such that ratio of stories in the book is equivalent to what market in actuality is. This conscious decision of the Author hits reader in the right places as it shows the reality of industry rather than giving an all rosy picture.
Still, in recent times, others have shown the spirit and opened doors for whoever wants to enter in- irrespective of gender. The book also shows how the firm Cyril Amarchand Mangaldas gloriously follows the approach of women being involved in day to day functioning of the business.
Overall, the effective storytelling of the Author makes it an interesting and very insightful read. The nuances and niche approach of giving a deeper understanding into the family business of India; makes this book a must read.
I received a copy from Writersmelon in exchange for an honest and unbiased review.