In this Power20 episode, I’m speaking to my friends who are NowGen leaders. As you think about succession planning and preparing the NextGen to fill your shoes, I urge you to be intentional when it comes to their leadership development. Not doing so can result in devastating consequences, not only for them but your family and your enterprise. Why risk it?
Make a plan, work the plan, guide your NextGen, and help them grow their capacity to be successful in their future role. Need ideas? In this episode, I provide 10 ways to set your NextGen up for success in the family enterprise.
Have a question, comment or another idea? Reach me at ellie@successfulgenerations.com.
Topics discussed in this episode:
- Intro :45
- 1. From the ground up (3:10)
- 2. Orientation program (4:30)
- 3. Education, education, education (9:07)
- 4. Employment policies (12:55)
- 5. Positive work talk (14:52)
- 6. Meetings (16:30)
- 7. Teach financials (17:26)
- 8. Allow failure (and success) (18:18)
- 9. Introduce to trusted advisors (20:05)
- 10. Step aside (21:22)
- Recap (23:10)
Resources mentioned in this episode:
- Episode 008: Family, Fights and Ferry Tales with Chris Shepler
- Episode 021: Taking Over the Family Business with Mitchell Kaneff
- Episode 013: Raising Children to be Amazing Business Owners with Paige Cornetet
- Episode 018: The Welch Allyn Family Business Story with Eric Allyn (4th Gen), Part 1
- Episode 015: Beyond the Piggy Bank with Father, Author, and Entrepreneur Clint Greenleaf
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Learn more about Successful Generations:
FB: @SuccessfulGenerations
Twitter: @EllieFreyZagel
Email: ellie@successfulgenerations.com
