Family business is more than a proven business model. It’s a unifying thread tying generations together in shared passion and legacy. However, every great legacy has a weight to bear. At the recent Jerry S. Rawls College of Business McCoy Family Speaker Series, Cornell University’s Smith Family Business Initiative (SFBI) founding director Daniel “Dann” Van Der Vliet explored the realities of family business through a data-driven lens. Texas Tech students, faculty, and community guests gathered to hear his insights firsthand.
Van Der Vliet is a passionate advocate, educator, and practitioner with over 25 years in family enterprise education. As the founding director of the Cornell University SFBI, he continues to pioneer formative efforts, including the National Exchange for the Generational Enterprise Network of Successors (NEXGENS), the annual Rising Gen Survey, and the Family Enterprise Case Competition.
Drawing on these resources, along with insights from the New York City family enterprise competition held a week prior, Van Der Vliet grounded his speech in firsthand data and real student perspectives. He began by emphasizing the rising prevalence of family business within academic research.
“78% of people trust family businesses, and more than 90% of businesses are family-controlled,” Van Der Vliet noted from a recent U.S. family business survey.
From historic conglomerates to local mom-and-pop shops, family businesses are the backbone of the economy and the cornerstone of the American Dream. Van Der Vliet shared that family business is the leading enterprise structure across the world. As global recognition grows, research and resources are more accessible than ever.
Building on this momentum, he addressed the social stigmas associated with family business by recreating a portion of the Rising Gen Survey. During the interactive session, attendees digitally submitted words they associated with family enterprise, creating a digital mosaic.
He noted that terms such as "legacy" and "entitlement" appear consistently, illustrating the weight of expectations among young successors. Many report feeling blurred lines between personal identity and their familial roles. Although most are grateful for the advantages afforded to them, they often experience uncertainty and frustration navigating those complex dynamics.
In closing, Van Der Vliet added that each family has its own unique opportunities and challenges.
“There’s a wonderful balance between managing the history, preserving the legacy, and innovating plans for the future,” he said.
This underscores the core mission of family business initiatives like the AGCFBE, the SFBI, and the NEXGENS. Members leave these programs equipped to lead honest conversations, apply strategic solutions, and manage complicated family relationships.
NEXGENS Launch
To conclude the event, current and former executive members of the Rawls College Family Business Student Organization - Cameron Patton, Verity Robinson, Henry Doherty, and Itzel Velasquez - joined delegates from six other universities on stage to formally launch NEXGENS, the National Exchange for the Generational Enterprise Network of Successors.
Inspired by the Family Business Alliance, NEXGENS is a first-of-its-kind national student organization launched at Texas Tech. It is designed to unite the next generation of family business leaders. By bringing together students across the country from family business backgrounds, the program strives to build lifelong networks that support continuity, innovation, and legacy in family firms.
Save the Date
Fall 2026 McCoy Family Speaker Series
Ranch Succession: Lessons, Lived Experiences, and Stories of Continuity from the Family
Business of Ranching
8–10 a.m. | Sep. 25, 2026 | Museum at Texas Tech University | Lubbock, Texas