video1.0<iframe src="https://www.loom.com/embed/71926d95705f415a9f9463943274b9fa" frameborder="0" width="1920" height="1440" webkitallowfullscreen mozallowfullscreen allowfullscreen></iframe>14401920Loomhttps://www.loom.com14401920https://cdn.loom.com/sessions/thumbnails/71926d95705f415a9f9463943274b9fa-00001.gif556.4000000000012In this video, I discuss the importance of gaining knowledge in addition to wisdom in the context of family businesses. I explain that while wisdom is about common sense and moral judgment, knowledge is about practical expertise. I provide practical ways for the upcoming generation to gain knowledge, such as forming an upcoming generation committee and exploring different roles within and outside the family business. I emphasize the need to give them space to fail and the importance of understanding the different types of individuals within the family business. No action is requested from the viewers in this video.