STAGES PROFESSIONALISING FAMILY BUSINESS: Professionalising Legacy

In any family business journey, professionalisation usually unfolds in stages. Earlier phases focus on professionalising the Self, the Family, and the Business.

- M R Rajeshkumar Lead - Partner, GatewaysGlobal Family Business Advisory. www.gatewaysglobal.com

When we observe Indian family enterprises that have endured across generations, continuity is rarely accidental. Groups such as the Murugappa Group show that legacy survives not merely through ownership continuity, but through deliberate and sustained professionalisation. What began as a closely held family venture gradually evolved into an institution guided by shared values, strengthened by systems, and anchored in long-term responsibility to family, business, and society.

In any family business journey, professionalisation usually unfolds in stages. Earlier phases focus on professionalising the Self, the Family, and the Business. These stages build individual capability, family alignment, and organisational discipline. However, as businesses mature and generations expand, a fourth and equally critical stage emerges professionalising legacy. Without consciously addressing legacy, even well-governed family businesses risk fragmentation, loss of identity, or generational disconnect.

From Self, Family, and Business to Legacy

Professionalisation often begins with the Self. Individual family members develop leadership readiness, emotional maturity, and clarity about their relationship with the enterprise. This stage ensures that involvement in the business is intentional rather than inherited by default.

The journey then moves to the Family. As families grow in size and generational spread, informal understanding is no longer enough. Professionalising the family means openly discussing values, expectations, and roles. This is where early conversations around a family constitution begin - helping families articulate what they stand for, how decisions are made, and how differences are handled.