Next-Gen Leaders: The Catalyst for Change in Family Businesses
If you’re in your 20s, 30s, 40s, or 50s and feeling that itch for “what’s next,” know this: You are the driving force behind organizational change in your family business.
But with change comes resistance,...
Adults learn best from other adults, but rarely get that chance in their careers. That's why peer groups are so impactful, especially for next-gen family business leaders. They offer a unique opportunity for personal and professional growth that’s hard to find elsewhere.
When we think about...
It’s essential to involve specialized consultants in multi-generational family businesses to ensure long-term success.
Family Business Advisors play a crucial role in facilitating leadership transitions through their expertise in practical knowledge, engaging narratives, and effective...
In family businesses, the quality of your team defines your success. Identify the right people and build relationships that matter.
If you're missing a skill, hire or partner with someone who has it.
A supportive team is essential for driving change.
It's extremely important to include family champions in business meetings and discussions.
Including these leaders in assessment conversations creates an opportunity for their expertise to be heard, and for other members to grow from their insights.
Agency is about driving your career, and in family businesses, it's essential to foster this at all levels.
Aim to provide a roadmap of critical competencies and help quantify skill mastery.
This clear, skill-based approach helps develop and retain talent, ensuring everyone has the opportunity to...
Enhancing skills and knowledge is essential for leaders of all ages, especially Next-Gen Leaders.
It's not just about filling gaps and checking off competencies. Instead, the focus should be on demonstrating your capacity and readiness for the next role.
The old deficit-based model is...
Regardless of age, everyone wants career clarity.
Having conversations with different experts, mentors, or advisors – whether they're your peers or older – can help.
Embracing curiosity shows a growth mindset and fuels continuous learning.
#familybusiness #nextgen #familyenterprise...
Creating a growth mindset in a family business focuses on possibilities and expanding potential.
When we foster an environment that encourages learning and adaptability, we pave the way for continuous growth and success.
Emphasizing potential over limitations transforms obstacles into...
Asking for mentorship in a family business doesn't have to be complicated. I recently helped a young leader who felt unsure about how to seek guidance.
The key is to be clear and concise: state your purpose, ask 2-3 specific questions, and request a short meeting. Mentoring is about addressing...
Show me any successful leader and I’ll ask about their teams. Individuals always fail. Teams determine success.
As a next gen leader, who do you currently have on your team? If you don't feel you currently have a robust team of support around you, who needs to be on your team in 2024?
One...
Recently, I attended the Purposeful Planning Institute’s 2023 conference with 240 people from over 20 disciplines. Most were wealth advisors, estate attorneys and business psychologists (like me). All struggled to answer the question, “What is family capital?”
Economists...
