When I was working, before I focused on family law, the initial firm I was with dealt with a number of generational family businesses, and there is a definite pattern. The first generation starts the business from scratch. The success of the business varies, but they work hard at it. Art Rooney was the first generation. From everything we know, he didn’t work as hard as the typical business creator and the Steelers were not successful until near the end of his life when he hired Chuck Noll. Noll’s scouting and drafting innovations, plus his coaching ability, were the major factor in their success. The Steelers were doing the equivalent of Pro Days with college players when other teams were drafting based on All American and All Conference teams. Rooney obviously greatly benefitted from that hiring and the legend of the Steeler Way was created.
The second generation of the family usually has been involved in the business since youth. If they are committed to eventually running the business (as opposed to, for example, going to medical school) and are competent, the business normally has its greatest success under their leadership. That was Dan Rooney. Without a doubt, the Steelers reached their pinnacle under him.
By the time of the third generation, there usually are more owners because there normally are more grandchildren than children. Some never get involved in the business; they just want their pro rata share of the cash flow. Some get involved. Their competence varies. Frequently, the business is sold or flounders when this generation is running it.
We once had a case where the business was founded by two former GIs after WWII. Both from different towns in Michigan and both had sold plumbing supplies before the war. Both came to California after the war and coincidentally bought starter homes on the same block. Still selling plumbing supplies, they met and started tinkering in one’s garage on weekends. Neither had any training, but if you ever had a hose and spray in your kitchen where you could switch the water flow from the faucet to the hose to clean dishes or vegetables, whatever, you almost certainly used their first invention: a diverter valve which goes in the faucet and diverts the water flow to the hose and spray. They also manufactured the hose and spray assemblies.
From there, they created other diverter valves — primarily to divert water from the bathtub faucet to the shower. They only made the diverter valves and they designed and patented a lot of them because each big plumbing supply company (American Standard, Delta Faucet, etc.) had slightly different setups. All six of the big plumbing fixture manufacturers in the US bought all of their diverter valves from them. The second generation of the business took the lead in this expansion. It was very successful. (As an aside, despite a basic monopoly on the patented products, between 1947 when it was founded and 1974 when it was sold, it raised prices ONCE. Not like businesses today.)
By the third generation, their were nine family members between the two families. Only two worked in the business; one was excellent; the other was just there. Both resented the fact that they had to split profits equally with the others. The side of the business run by the barely competent one began to suffer. The profitability dropped. The business was sold to a Fortune 500 company.
The current Art Rooney is generation three. He is at best marginally competent. With him running the show, a revival of the Steelers being something akin to a special franchise is DOA. Unless, of course, he hires the next Chuck Noll.