How do you mentor a child who is interested in joining your business, give them the greatest possibilities for succeeding, without making them feel and believe they need to be just like you? First, embrace that your child is different from you. So, if they feel they have to be like you to succeed, they are doomed to failure.
Developing your successor child/children will involve a variety of complex areas – all of which are interdependent on the other. You will have to clarify expectations, define roles and responsibilities, leverage mentors, understand and embrace differences in communication and leadership styles, and this includes generational differences. All these issues factor into whether this experience is going to be rewarding and fun experiencing success together, or whether your dream of legacy is becoming your nightmare! I often tell my dealer clients, “I do a great job talking to your kids – I do an ok job talking to mine!” It is a lot tougher when it is your child – for you and your child!
Read the article and then reach out us to get some insights on your own situation. A few moments with us will provide you insight and clarity for your next steps forward. Contact Us
Family Dynamics and Family Governance
Family and Business alignment is hard to find when business issues liven up family dynamics.
However; with proper process, governance policies, and mutual respect built over time, a Family Business can thrive through multiple generations. Click the following links for more drill-down resources on Family Dynamics and Family Governance.