Bridging the Gap:
Embracing Therapy for Multigenerational Success in Family Businesses

In a recent article with Canadian Family Office Magazine Dr Lami provides insights into the benefits of family therapy for family businesses and across generations.
As a wealth psychologist who has worked with ultra-high-net-worth individuals and families from diverse cultural and generational backgrounds, I have gained unique insights into the complexities and nuances of family dynamics.

In this post, I will share my experiences and discuss how therapy can help bridge the gap between generations and cultures in family businesses. By understanding the different attitudes towards therapy and leveraging it as a tool for growth and communication. Families can create a strong foundation for their future and ensure the continued success of their enterprises.

Understanding Cultural and Generational Differences

As a wealth psychologist working with ultra-high-net-worth individuals and families, I have observed how cultural and generational differences can impact their response to stress. Our cultural backgrounds often shape our behaviors and attitudes. These differences have been handed down through generations, creating a kind of cultural DNA.

It is therefore natural for individuals from different cultures and generations to respond differently to stress and seek therapy.

Generational Attitudes Toward Therapy

The idea of “just getting on with it” resonates more with baby boomers and gen X. While generations Y, and Z have a more open attitude towards therapy. This is due to rapid changes in our world, resulting in different experiences and mindsets across generations.

In the past, people did not have the option or awareness to seek psychological help, and they did not view their experiences as traumatic. However, younger generations are exposed to much more, causing confusion, sensitivity, competition, and a greater need for therapy.

Developing Resilience and Self-Confidence

In today’s world, people are more sheltered in some ways, which can hinder the development of resilience and the ability to cope with difficult situations. Comparing oneself to others can be detrimental to one’s self-confidence, self-esteem, and self-worth.

It is important to recognize that each generation has its strengths and weaknesses and that guilt or shame is not productive. Traumas and anxieties are fear-based and not generation-based, and each generation faces its own unique challenges.

Making Therapy a Healthy Source of Family Communication

It is crucial to bridge the gap between generations and cultures when it comes to therapy. One way to do this is to help people understand that therapy is more than just talking about problems. Therapy is a gift, not a punishment, and can be a valuable tool for personal growth and development.

To make therapy more accessible to those with different perspectives, it can be helpful to frame it as coaching or mentoring rather than therapy. Just as a sports person hires a coach to reach their potential, families can also benefit from coaches. Coaches help families understand their dynamics and function at their highest potential.

Final Thoughts

Understanding and addressing the cultural and generational differences in family businesses is essential for promoting healthy communication and relationships. By embracing therapy as a positive tool for growth, families can navigate the complexities of their lives and create a strong foundation for their future.



Latest Posts

Top 5 Financial Well-Being Strategies for UHNWIs in 2024

In 2024, the financial well-being of Ultra-High-Net-Worth Individuals (UHNWIs) transcends simple wealth accumulation. It's about creating a holistic strategy that not only preserves wealth but also enhances personal fulfillment and happiness. Here are the top five...

The Ultimate Guide to Financial Empowerment in 2024

In 2024, financial empowerment is about taking control of your financial future through informed decision-making and strategic planning. This guide provides essential tips and strategies for individuals seeking to enhance their financial independence and security in...

The 2024 Essential Guide to Wealth and Personal Growth

In 2024, wealth management transcends the simple accumulation of financial assets; it’s a holistic journey that interlaces with your personal growth and overall happiness. This guide dives deep into how you can merge financial success with enriching personal...

The Dr. Lami Approach to Wealth: Top 10 Tips for 2024

In 2024, approaching wealth management requires not just financial acumen but also a deep understanding of the psychological aspects of wealth. As a wealth psychologist, my approach combines these elements to create a comprehensive and balanced wealth management...

Navigating Financial Change: Top 5 Tips for 2024

As we journey through 2024, we find ourselves in a period of significant financial upheaval, with evolving market dynamics and economic landscapes. Navigating these changes demands adaptability, foresight, and strategic planning. Here are the top five tips designed to...