A tree, with branches that each family member can see and learn from, creating a visible map for future generations to follow, that should be the goal of a multi-generational family. Arguably, such a goal should have little to do with money and everything to do with safeguarding and sustaining each family's unique character, or culture. Of course, culture is not always obvious, but it can be seen in the elements that make it up.
It's very important that families proactively decide which elements, bits of folklore, stories, traditions, are intrinsic to their identity as a family. Once chosen, new family members should be inculcated into the mysteries of these traditions. Orient them in appreciating their history and worth, as well as in how to carry them forward and in turn initiate new generations into the tradition of philanthropy.
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Ganesh Natarajan is the Founder and Chairman of 5FWorld, a new platform for funding and developing start-ups, social enterprises and the skills eco-system in India. In the past two decades, he has built two of India’s high-growth software services companies – Aptech and Zensar – almost from scratch to global success.