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Philadelphia, PA—When owners of a family business want to engage the next generation in the enterprise, their first approach often is a one-way communication designed to educate, says Peter Begalla, conference and education director of Family Business magazine. “Here’s what a balance sheet is, here’s the P&L, here’s how things work around here.”

But Charlie Carr, executive director of EY’s family office advisory services, says every generation hears and receives messages in different ways, so business owners need to deliver their message in a way the next generation hears, not in the way that worked for themselves when they were that age. Instead, he offers some simple ways to engage the younger generation to find the same passion the older generation has for the business.

Click here to watch the full video interview.