Can a legacy business truly thrive beyond its founder? For many family business owners, the transition from one generation to the next isn’t always a well-oiled process. It’s emotional, uncertain, and often unexpected. Few people know this better than Jaron Solomon, who stepped into multi-generational business leadership at Solomon Brothers Jewelers without a roadmap. It was one of the most trying periods—navigating leadership, uncertainty, and the weight of preserving a legacy—but it also brought valuable lessons.
What started as a single store in 1983, built by his father and uncles, is today a thriving multi-location jewelry empire. The lessons began when Jaron’s father fell ill. He had to navigate an unplanned succession and the pressure of preserving both the business and his family’s legacy.
Learn from his story…
Mastering Multi-Generational Business Leadership Without Prior Training
“I was calling my dad from the store every day, like, ‘Where is everything? What’s going on?’” – Jaron Solomon
Jaron never expected to take over the business so soon. At just 23 years old, fresh out of college, he was suddenly handling clients and making decisions – all while his father battled a serious illness.
Unlike many second-generation successors who have years to prepare, Jaron was forced into his role overnight. He credits his ability to adapt to two things:
- Critical thinking skills – honed in business school and through hands-on experience.
- His father’s remote guidance – even from a hospital bed, his father was teaching him the ropes.
By the time his dad passed in 2016, Jaron had already been running the business for three years, but only then did his role become official. And that’s when he realized how little preparation had actually been done for a generational transition.
The Pitfalls of Poor Succession Planning in Multi-Generational Business Leadership
The Solomon family’s story reflects a common challenge in family businesses – the lack of a structured succession plan.
Jaron acknowledges that his father, like many first-generation entrepreneurs, was too busy building the business to focus on what would happen next. The mindset was simple:
“When you start with nothing, you’re risking everything. So why would you need a plan?”
But as businesses scale and succeed, the stakes change. Without a solid plan in place:
- Loss of key relationships: Jaron recalls meeting suppliers years later who had major business ties with his father – relationships he didn’t even know existed.
- Financial inefficiencies can go unnoticed. Key financial processes were outdated and needed serious restructuring.
- Leadership transitions can be chaotic. Without clear succession plans, businesses risk losing stability and long-term vision.
Scaling a Family Business Without Losing Its Soul
Instead of just maintaining what his father built, Jaron expanded the business to three locations – but did so strategically. His focus?
- Optimizing inventory: Learning how to scale down while increasing revenue.
- Eliminating inefficiencies: Restructuring operations and redefining roles.
- Honoring tradition while innovating: Keeping the Solomon Brothers name strong while implementing new growth tactics.
One of his biggest leadership lessons? Family business leadership isn’t just about running a company – it’s about staying current, evolving with the times and needs of your clientele, while sustaining your name and reputation.
The Future: Preparing the Next Generation for Multi-Generational Business Leadership
Jaron’s story raises a question that many second-generation business owners struggle with:
Do I pass this business down or sell and start something new?
“My father never explicitly said he wanted the Solomon Brothers to continue for generations. But now that I have my own kids, I think about it differently.”
Like many leaders, Jaron wants his children to have the freedom to choose their path. But he also recognizes the importance of early exposure, business education, and structured planning for the future.
If you had to step away from your business tomorrow, would it continue to thrive; or struggle to stay afloat?
Imparting critical skills and business acumen to each generation will facilitate smooth transitions, while preserving your core business legacy. At Fusion CPA, we help family businesses assess their financial and operational readiness for long-term success – both in terms of skills and operations. Our team can help you :
- Establish structured governance and financial safeguards.
- Define leadership roles for seamless transitions.
- Streamline business processes to ensure long-term sustainability.
Watch our full interview with Jaron Solomon to hear more about his journey. And if you want to secure your family business’s future, let’s talk.
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