When running a family business, it’s not your show – Ayo Anibaba

Younger generation managers of family businesses should learn to respect the involvement of the older generation in the business. They should learn to strike a balance between innovation and tradition.

This was one of the submissions of Ayo Anibaba, the Deputy Managing Director of Sweet Sensation Confectionery during the NextGen BootCamp of BusinessDay’s Family Business Summit.

Ayo Anibaba, the daughter of Sweet Sensation’s founder, Kehinde Kamson was one of the panellists during the Boot Camp alongside her mum.

In answering the question of how the younger generation can navigate some of the business’ traditions with their ideas, she noted,

“We always think that we’re smarter than our parents. Once you enter, you now see what they see.”

Read also: 70% of wealth creation driven by family businesses – PwC

“It doesn’t have to be a clash between innovation and tradition, you have to be hybrid. You can phase things out over time, but you can’t go on bringing in new things all at once.”

She continued, “No matter how much they say they’ve taken their hands off the business, they’re always involved somehow. You have to be mindful of that, and not think you’re now running a show.”

In her words, “You need to have conversations about innovation that might be necessary to keep the business thriving.”

Ayo, an American-trained accountant and former Senior Manager at PwC shared some of her life experiences from working in the family business during the boot camp. She noted that she had never paid special attention to some of the challenges of being a female boss, considering “she had always watched her mum lead a company.”

Dikanna Chika Okafor, the Deputy Group Managing Director of Chicason Group was also a panellist during the bootcamp. He shared some of his personal experiences before and from working in the company.

Dikanna quipped, “Understanding the reasons and motivations behind the business takes a long time, and the journey has been difficult. But so far, there’s a lot of joy in it. The joy gives the pain meaning.”