I am the oldest son of a successful business owner and have been actively involved in the business for 14 years. I have two siblings who are not currently active in the family business but may be in the future. As my father’s level of involvement in the business naturally slows, my responsibilities have increased with anticipated acceleration in the next 3 to 5 years. 

My father joined FOX when he heard about it through a business associate. He was initially the only member of the family involved in FOX, and I have increased my involvement over the past several years which has been very rewarding. 

Family businesses, and the families involved with them, often have complex issues and challenges that are different than other kinds of businesses and can feel unique—even isolating. I have often wondered whether other next-generation family members are dealing with similar issues and how they are dealing with them. After getting involved with FOX, I now recognize that there are common themes among family businesses that may not universally hold true but are more common than I would have guessed, knowing the variation in business types and family dynamics. Discovering this has been comforting, but also through FOX, has allowed me to tap into the relationships I have made to discuss them and learn from each other’s experiences.

I have made several strong connections through attending FOX events, but it has been harder to find the people in the younger generation than I had expected. At the FOX Fall Forum, I have met a few peers, but there often wasn’t enough time or the right opportunity to discuss some of the deeper issues. 

When I was asked join the advisory board for the upcoming FOX Rising Gen event, I enthusiastically agreed because I have been seeking a community of peers and sense there are others like me within the FOX community. I am excited by the idea of meeting a concentrated group—a unique subset of Rising Gens in business-owning families, working to build this community within FOX. Even though each family and each individual is different, I know there are common issues. I know that making a connection with someone who understands what you’re going though can be truly powerful. 

J. Austin McDonald
President & Chief Operating Officer
McDonald Development Company