Charging ahead
Message from the Nulsen Family
Executive Director
Fall is my favorite season -- as the leaves start to change their colors, I cannot help but feel energized about starting the new school year with our new and updated programs, which you will read more about in the sections below.

Built upon the success of the Family Entrepreneurship Journey last Spring, we will have a return series with new speakers in the Fall. I had the pleasure to talk to and write about one of the guest speakers of the series, Vaibhav Vohra '08, who shared with me his amazing journey of leading innovation in his family business. You can read part of the article below.

We will be launching a new program for entrepreneurial families: Digital Transformation Workshop for Family Businesses with Babson faculty Rubén Mancha, who teaches courses on information technology and digital transformation and also advises digital startups and family companies undergoing a digital transformation.

In additional to our growing offerings of student programs, we have also added new programs for alumni and families, two of which will be starting this Fall: Family Entrepreneurial Leadership Program and The Path to Family Entrepreneurship: Virtues and Voice. Spaces are limited for both programs. If you're interested, please apply early. Last, we are continuing to offer our Family Entrepreneurship Advisory Services.

As I mentioned in our previous newsletter, the book edited by Bertarelli Foundation Distinguished Chair for Family Entrepreneurship William B. Gartner and Associate Professor Matt Allen, FAMILY ENTREPRENEURSHIP: INSIGHTS FROM LEADING EXPERTS ON SUCCESSFUL MULTI-GENERATIONAL ENTREPRENEURIAL FAMILIES. just came out recently. This is the first edited book that focuses on family entrepreneurship from both academic and practitioner perspectives and exemplifies Babson’s leadership in this space. If you have not read the book already, I highly recommend it. You can read an excerpt of the book in the section below.

Finally, I would like to thank you for your support to the IFE in the last few years. As Babson's annual day of giving, aka Make Your Mark, is fast approaching, we would be grateful if you would consider making a gift specifically designated to the IFE to support our work.

I hope you will enjoy the summer!

Sincerely,
Thought Leadership
Leading Innovation in a Family Business
In this article, Vaibhav Vohra '08 shares the story of how he introduced innovation to his family business.

Family businesses, in general, tend to be more risk averse than non-family businesses, and so they are often considered to not be very innovative. However, research has shown that family businesses are actually far more efficient in converting innovation input to innovation output, and in that sense are actually move innovative than non-family businesses. These seemingly contradicting phenomena – being relatively risk averse and also innovative – are in fact both true, which is why leading innovation in a family business is no easy feat. Vaibhav Vohra saw firsthand how difficult it can be when he tried to introduce new technologies to his third generation family business, Continental Group, a national leader in the logistics and supply chain industry in India.
Family Entrepreneurship Journey
In this 3-part series, students and families from around the world will engage and learn from Babson Faculty and family entrepreneurs in these hybrid (in person or online), interactive live case studies. Attendees are encouraged to invite their family members to join and will take home a discussion question after each session to explore with their family.

September 24, 2021 | 10:00 - 11:15 AM Eastern Time
Fear of Failure and Its Impact on Family Entrepreneurship
Speaker: Matt Allen, Associate Professor and Founder of the Family Entrepreneurship Amplifier program, Babson College
Location: Needham/Wellesley Room, Olin Hall, Babson College OR Zoom

October 8, 2021 | 10:00 11:15 AM Eastern Time
Live Case Study: Considerations on Joining a Family Business (or not)
Speakers: Howard Field, President and CEO, Greenfield Global; and Lauri Union, Nulsen Family Executive Director, Institute for Family Entrepreneurship at Babson College
Location: Needham/Wellesley Room, Olin Hall, Babson College OR Zoom

October 15, 2021 | 10:00 - 11:15 AM Eastern Time
Live Case Study: Relationship Challenges between Siblings in a Family Business
Speakers: Vaibhav Vohra '08, Managing Director of Continental Group; Viraj Vohra '13, Director, Continental Group; and Lauri Union, Nulsen Family Executive Director, Institute for Family Entrepreneurship at Babson College
Location: Loebner Learning Lab (Room 148), Horn Library, Babson College OR Zoom 
Thought Leadership
FAMILY ENTREPRENEURSHIP: INSIGHTS FROM LEADING EXPERTS ON SUCCESSFUL MULTI-GENERATIONAL ENTREPRENEURIAL FAMILIES
New book edited by Professors William Gartner and Matt Allen
Excerpt from the Chapter
Managing Legacy, Achievement and Identity in Entrepreneurial Families
by Eliana Crosina, Assistant Professor of Entrepreneurship, and
William B. Gartner, Bertarelli Foundation Distinguished Professor of Family Entrepreneurship, Director of Research
In discussions with entrepreneurial families about their futures, we often suggest that each family member should consider four aspects of their lives—achievement, happiness, significance and legacy—as a broad framework to explore their goals and values and to reflect on “who they are” and ultimately “who they want to be.” This framework comes from Just Enough, a book written by Laura Nash and Howard Stevenson that focuses on the meaning of “success” for highly accomplished individuals and families. In this chapter, just as in our conversations with the members of entrepreneurial families, we first describe and contextualize the framework. We then focus on two specific elements of the framework—legacy and achievement—because they tend to be a primary source of conflict and misunderstanding among the members of entrepreneurial families.
Programs for Emerging Family Entrepreneurs
We offer programs that are designed for individuals from the next generation of family businesses who are looking for ways to accelerate their career. Below are two programs that will start this Fall.

The Family Entrepreneurial Leadership Program is a group of 8 Babson alumni & friends who are taking an active role in a family business. This unique forum experience will help members build their personal capacity to create growth, foster stronger family relationships, and chart their course to achieve their personal goals in an entrepreneurial family context. Limited spaces available - apply now.

The Path to Family Entrepreneurship: Virtues and Voice is a 3-workshop series designed specifically with the Asian family and their business in mind. Students will learn about family entrepreneurship and what drives families to create economic and social value through generations. They will also get a chance to examine the impact of culture and perspectives on a family's business in the Asian context (multi-culture and belief systems).

Defend the Dam!
Are you ready to Defend the Dam?
September 8-9, 2021
Mark your calendars! Our 6th annual giving day, Make Your Mark, is coming up September 8-9. For 36 hours, Babson's global community will come together and support the College we love. Please choose the designation of your gift to the Institute for Family Entrepreneurship, so that your support will go directly to the IFE and allow us to continue to provide programs and events for our students, alumni, and community.
JOIN BABSON'S GLOBAL COMMUNITY
OF FAMILY ENTREPRENEURS
Please join the IFE global community of 5,000+ family entrepreneurs and get priority access to our networking events, virtual forums, and other exciting programs. JOIN NOW!
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