Will The Next Generation In The Family Business Say We Did It?
Many founders of businesses want to pass the business to the next generation. It is critical for the senior generation to consciously help the next generation grow. The next generation needs to gain the expertise, experience, mentoring, tacit knowledge, passion, and internal drive to continue building the family legacy. The next generation needs to hear praise, encouragement, appropriate guidance, at times receive discipline, and the confidence of the senior generation. When the proper plans, processes, and guidance are in place by the senior leadership, the next generation can continue building the legacy and nurture the family values.
“A leader is best when people barely know he or she exists, not so good when people obey and acclaim him or her, worst when they despise them. But of a good leader, who talks little, when their work is done, their aim fulfilled, they will say, 'We did this ourselves.'”
What are you doing to prepare the next generation?
What will the next generation say?