FAQs

Frequently Asked Questions.
Here are some common questions about NxtGen Nexus.

General Information
What is NxtGen Nexus?
If Facebook married LinkedIn, and they started a Family Business, NxtGen Nexus would be their watercooler, their dinner table, their extended family. If you’re a NxtGen (Gex X, Millennial, Gen Z) looking to boost your family’s business success, take it in a new direction, or just find your place in it, this site will show you how to do it, by connecting you with like-minded peers, valuable information and opportunities that fit the diverse needs and interests of today’s business people.
What if I’m not a next gen?
There’s plenty here for Baby Boomers and Traditionalists, including generally useful business tips, advice on how to keep the family business going beyond the dreaded Third Generation Wall.
Wait, what’s the 3rd generation wall?
If you don’t know about it, thank goodness you’re here! The Third Generation Wall refers to the tendency of successful family businesses to die out, or at least to fall out of family control, after the third generation. The general principle is, the first generation creates the business, the second generation, having gotten to see firsthand how hard it was to bring that business to life, work equally hard or harder to keep it going, but the third generation, having been born into it without ever seeing what it took to get there, tend to let things collapse. Our goal is to help be a bridge over that wall, as well as to help all family members, whether related by blood or marriage, whether currently in the family business or not, find the path that works for them.
How much does it cost to join?
At present, the tools and resources of NxtGen Nexus are completely free! However, in the future, we will likely be offering a premium service to NxtGen Nexus users looking to achieve the next level in their family business enterprises, with more advanced tools and information from high-level business experts.
Why do I need my own family business resource as a next gen?
Most families have some type of conflict.  It’s human nature.  However, when you add the elements of working together, inheritance, sibling rivalry, etc. the problems are multiplied.  We take a non-judgmental approach to answering questions and alleviating issues that may hamper NxtGens from entering or staying in their family business.
What is considered a family business?
Family-owned business may be defined as any business in which two or more family members are involved and the majority of ownership or control lies within a family. 
How many family businesses are there?

Family-controlled firms now make up 19% of the companies in the Fortune Global 500, which tracks the world’s largest firms by sales. That is up from 15% in 2005. (McKinsey 2014)
Family owned businesses contribute 57% of the U.S. GDP ($8.3 trillion), employ 63% of the workforce (FEUSA, 2011), and are responsible for 78% of all new job creation. (Astrachan & Shanker, 2003)
35% of Fortune 500 companies are family-controlled. (Businessweek.com, 2006)

NxtGen Connect
What is NxtGen Connect?
NxtGen Connect is our social search feature that really sets NxtGen Nexus apart. Create connections to other NxtGens in family business with common experiences to talk, network, build relationships and learn. Just go to the “NxtGen Connect” page, provide a little basic information, and start connecting!
How do I protect my privacy on NxtGen Connect?
Your privacy is of utmost importance to us. After you fill out a quick and easy online form with some basic information about your experience as a family business NextGen, you’ll get a list of matches. You will not see anyone’s private e-mail or identifying information. If you see someone you want to connect with, contact them via the NxtGen Nexus secure email platform. That person will then see your information, and if they choose to connect back, you will see theirs. When you fill out your questionnaire and go into our system, the same procedure will hold if you are chosen as someone else’s match.
How do I join NxtGen Connect?
Simply sign up for a NxtGen Nexus account. There is no charge to sign up or to participate. You can create your profile by clicking on the link in your Welcome to NxtGen Nexus e-mail or going to NxtGen Connect on the navigation bar.
How many connections will I get?
There is no set number. New connections will be available on an on-going basis.
What are the rules of NxtGen Connect?
Use NxtGen Connect however it best works for you. However, keep in mind that NxtGen Nexus will strictly enforce non-solicitation rules, and that violators, as well as User Account holders that knowingly use false information to create their profile, will be permanently barred from the NxtGen Nexus website.
Other Navigation Bar Content
What is “Family Business Matters?”
Articles and information about the NxtGen experience growing up and working in a family owned business from both a personal and professional perspective.
What is “NGN Interactive?”

We like to hang out on our cellphones too. Here’s some of stuff we like.

The Break Room – Here are some polls, games and quizzes that will open your eyes to how much of the world is about family business.

The Moment — Every family business NxtGen either briefly considers or agonizes over the decision about entering the family business. The Moment videos invite users to share cellphone videos describing that incredibly important moment.

What is “NGN Local?”
NGN Local are pages on the website which are created and populated by local Family Business Centers (see below) to celebrate the importance of family business in the local communities. You can find content such as Family Business Confidential, Family Foto, Family Business Restaurant of the Month and more. Check it out and have some fun.
What are “Resources?"
Here are resources to help you build your family business and/or find your place in the business.
Family Business Service Partners
What specific services does NxtGen Nexus offer?

NxtGen Nexus does not directly offer professional services or products of any type for Family Business NxtGens.  Our goal is to provide people with best-in-class tools and advice they need to be successful.  The contents of this site provides general information only. It is not intended as legal or accounting advice. Accordingly, readers should not act upon information in this website without seeking professional advice.

Can I find professional family business services through NxtGen Nexus?

Yes!  NxtGen Nexus enables members to engage with service partners and subject matter experts in the area of Family Business. NxtGen will forward information to our service or product partners at your request.

As far as user-to-user professional services, NxtGen Nexus follows strict non-solicitation policy on the website.  If a user member is directly solicited by another user on NxtGen Nexus, they should immediately e-mail us at contact@nxtgennexus.com.

About NxtGen Nexus
I see the website is free, but do I need an to create an account to use It?
NxtGen Nexus has content that is available for all visitors whether they are a member or not.  NxtGen Nexus has additional content offerings, including a monthly newsletter and “Meet Your Match,” that are available only to members.
What if I forget my username or password?
You wouldn’t be the first. Don’t worry. NxtGen Nexus has a log-In button located in the top, right corner. If you forget your he-mail address you used or your password, you can contact us from the log-in module to reset.
How do I get answers to questions not addressed in the FAQ?
E-mail us at info@nxtgennexus.com
Where can I sign up for news alerts and other notifications?
When you sign up for your for NxtGen Nexus account and agree to our TOS/privacy policy you will also have the option to sign up for our newsletters and alerts.  You may opt-out at any time.
I need specific advice that I do not see on the website.
NxtGen Nexus does not provide specific advice regarding NxtGen Nexus Family Business.  However, you can may contact our bloggers, partners or consultants in the Family Business Directory to answer your questions. Our editorial board also reviews member questions as we develop new content.
Participate in NxtGen Nexus
How do comments work?
NxtGen Nexus members can comment on a variety of articles throughout on the website.  Users Members can also nominate Family Business NxtGens and Family Businesses on national and local pages to be features on the main website.
I have some good family business ideas. Can I submit to the site?
Through our panel of experts, NxtGen Nexus produces a variety of relevant content daily. We do value the input and participation of our members and welcome their user -generated content.  You can submit content to contact@nxtgennexus.com. Submitted content becomes property of NGN to use or not use as we see fit.
Family Business Centers
What are Family Business Centers?
Family Business Centers are organizations primarily connected to Universities with the mission of educating family business owners. The Family Business Center Directory lists Family Business Centers from around the world. If you belong to a Family Business Center and it isn’t listed, please send us the information. Also, let us know if you want to update your listing.
What’s in the Family Business Center Database?
If you search for a school in the Family Business Center Database, you may come up with two entries for the same institution.  This isn’t a mistake.  Some schools have both Family Business Centers and offer Family Business undergraduate and graduate classes for students.  When you review the information, you’ll be able to quickly see the difference
What can I find on the Founding Family Business Centers webpages?
Founding Family Business Center webpages offers family business NxtGens an opportunity to learn more about the tremendous services and events offered by their local Family Business Centers.  It is also an opportunity to learn, participate and celebrate in every aspect of family businesses in their local market or alma mater.
What are NxtGen Nexus Founding Family Business Centers?
Founding Family Business Centers are NxtGen Nexus partners with local market pages accessible through the Local Family Business Center directory.
Advertising
What if I’m an advertiser looking to advertise on the NxtGen Nexus website?
Advertisers interested in connecting with Family Business NxtGens can reach us at contact@nxtgennexus.com
Educational Database
What is the Family Business University/College directory?
The Family Business University/College Directory lists schools offering Family Business classes as part of their curriculum around the world. Those listed include schools with one or more family business courses, an entrepreneurial minor with Family Business courses, a BA in Family Business or an MBA with a family business emphasis which can include studying at multiple campuses around the world. Whether you’re undecided about going into the business or looking to take your business to the next level, family business classes offer a great opportunity to share the experience of growing up in a family business with your peers.
For any other questions, please write us at info@nxtgennexus.com

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