Anjali Merchant Majithia, sister of the newlywed Radhika Merchant, captured hearts with her elegant style during the Ambani pre-wedding and wedding festivities. Merchant, a director at Encore Healthcare, a family-owned pharmaceutical company, recently shared what it was like growing up.
Owing to the environment in which she spent her formative years, Merchant developed a deep understanding of the business from a young age. “These were dinner table discussions,” she recalled in a panel discussion organised by Entrepreneur India last month.
Merchant cited a childhood experience in Oman as a pivotal moment in shaping her priorities. “We were visiting my grandfather in Oman. He was unwell. That’s where he lived. My parents flew back for a USFDA audit because of how important that was,” she said.
Merchant emphasised the significance of relationships and family values in her career. “I come from a family where relationships are paramount,” she said. “Growing up, I was instilled with the belief that being part of the business community and contributing to the family and country were of utmost importance.”
Growing up in a business-focused family can significantly shape a child’s mental health and priorities as an adult, offering both unique advantages and potential challenges, explained Priyamvada Tendulkar, a counselling psychologist.
Pros of growing up in a business-focused family
One significant advantage of growing up in a business family is the exposure to an abundance mindset. According to Tendulkar, children in such families grow up with a strong sense of economic boldness and are often detached from the traditional “middle-class, salaried” mindset. This mindset teaches them to think beyond the monthly paycheck and embrace risks, fostering a focus on annual income and long-term profitability rather than the perceived security of fixed, stable incomes.
This environment encourages children to be bold in their economic choices and presentations. Lessons in risk-taking and resource management from a young age can lay the groundwork for entrepreneurial thinking, something most people only encounter later in life, she explained. The psychological resilience built through early exposure to business strategies often makes individuals more comfortable with uncertainty and fluctuations in the market, providing a unique edge in adulthood.
Cons and psychological challenges
However, this environment comes with its own set of psychological challenges. Tendulkar points out individuality is often discouraged in business families where cohesion is crucial. Children may grow up in traditional and hierarchical structures where the “family boss” holds most of the decision-making power. This can limit personal freedom and creativity, making children feel suppressed or unable to express their true selves. Such structures can lead to repressed anger, depression, or rebellious behaviors in adult life, as many feel restricted by the weight of familial expectations.
Moreover, the pressure to perform and exceed the success of previous generations can be immense. As Tendulkar explains, “Making it that big is rare, and to do so two generations in a row is even rarer.” Children in business families often face the emotional strain of being compared to their highly successful parents, leading to feelings of inadequacy or failure. This unique form of pressure can foster a particular existential crisis, where material security exists, but existential freedom is absent, resulting in existential depression.
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