KENNESAW, Ga. | Feb 9, 2026

Defining Success on Your Own Terms

Dave Elder, Merit Financial Advisors

Business leaders often believe there’s a tradeoff between purpose and profit. You can invest in people or margins, community or growth, legacy or returns. But that tradeoff is often an illusion.

Nature moves exponentially, yet most of us think linearly. We set short-term goals, expect quick results, and adjust course when progress feels slow. Often our risk tolerance begins working against us and we pivot right before the real payoff would have appeared. Building something meaningful doesn’t have to work that way.

Family businesses that create lasting impact often do so by playing the long game, and doing that well requires an exponential perspective. Upon seeing their true long-term opportunity, owners often realize it is possible to stay committed to their values by supporting employees, reinvesting in the business, and strengthening their communities—even when in the short-term those decisions create challenges.

Over time, this behavior compounds. Trust grows. Talent stays. Customers remain loyal and new opportunities emerge as relationship capital increases.

What looks like “just purpose” today may become competitive advantage tomorrow. In finance terms, it’s the difference between managing today’s book value and bringing out a company’s true economic value as it extends to all stakeholders.

When leaders adopt this mindset, both profit and purpose become achievable and often reinforce one another.  For family businesses especially, success isn’t built by chasing short-term gains. It’s built by playing the long game across generations. The real question isn’t whether you can afford to focus on purpose. It’s are you thinking in a way that sees your true potential for profit and purpose?

Dave Elder, CFP®, CEPA® is a wealth manager and partner at Merit Financial Advisors guiding founders and families in financial planning. 

Family harmony is often spoken about as something to be preserved at all costs. In family businesses, that can quietly translate into staying—staying in roles that no longer fit, staying silent to avoid conflict, staying involved long after joy or alignment has faded. But harmony can take many forms, including the courage to leave.

Sometimes, the healthiest path forward is stepping away from the business. The reasons vary. It may be a mismatch of skills or interests, a difference in vision, or a desire to protect important relationships before resentment takes root. Sometimes it’s about personal growth. Other times, it’s about survival. What these decisions share is that they are rarely simple, and never without a hefty amount of consideration.

Many families have lived some version of this story: a next-generation member joins with energy and good intentions, works hard for years, and slowly realizes the role is no longer aligned. Maybe tension grows, conversations become guarded, and family time starts to feel like work. When the decision to leave eventually comes, it often opens a season of deep uncertainty marked by grief, guilt, and fear. There is sadness for what might have been, concern about disappointing others, and anxiety about what comes next. Long-held identities shift, family dynamics change, and even when the decision is right, it can still feel deeply painful.

Yet with time and care, the distance can allow both the individual and the family relationships to become balanced again. In many families, separation from the business becomes a turning point toward greater harmony. Family members are free to relate to one another as parents, siblings, or cousins rather than as colleagues. Conversations can become more relaxed and focus on personal interests instead of spreadsheets and compensation.

True family harmony isn’t about forcing everyone to stay in the same place. It’s about honoring both the business and the people who make up the family. And sometimes, the most courageous act of stewardship is knowing when to let go.

Purpose, harmony, and legacy are often held up as hallmarks of successful family enterprises. But none of them matter if there isn’t a capable next generation ready to carry the business forward.

However, many family businesses quietly assume that leadership continuity will come from within the family. Sometimes it does. Often, it doesn’t. Relying solely on family members can unintentionally limit growth, strain relationships, and delay important transitions. Not every next-generation family member wants (or is ready) to lead, and staying out of obligation can be just as damaging as leaving altogether.

Strong family businesses think exponentially about talent. They invest early in developing future leaders inside the family and recognize when they need to build leadership capacity beyond it. This means creating clear roles, expectations, and development paths for non-family leaders who can bring fresh perspective, operational strength, and stability through change.

At the same time, families must make space for honest conversations about choice. Leaving the family business can be emotionally complex, but it is not a failure. In fact, when individuals step away with clarity and respect, it often strengthens both the family and the business. Harmony built on silence or obligation is fragile; harmony built on alignment lasts.

The most enduring family businesses understand that opportunity expands when leadership is built strategically. By pairing a long-term vision with disciplined talent development, families unlock greater economic value and reduce the false tradeoff between profit and purpose.

Ultimately, legacy is not about who stays at the table. It’s about whether the business is strong enough to thrive for generations, supported by capable leaders who are there by choice, not by default.

Want to learn more? Outside Leadership Can Save the Family Business