Developing Next-Generation Leaders
Guest Blogger: Andrew Keyt When preparing families for business succession planning,advisors often mistakenly narrow their focus to the single individual they deem most capable of running the business upon a CEO’s retirement. But to truly make sure families preserve their core values while maintaining strong corporate governance and sound strategic planning, advisors should make it their business togroom all next-generational family members for unique leadership positions. Since I began working with successors in 1997, I’ve seen first-hand how so many NextGen family members are ill-prepared to assume leadership roles. But this situation can be avoided
Investigating Family Lineage
Unless the Kardashian family is one of your clients (and The Practitioner sincerely hopes this isn’t the case), families you serve probably don’t have camera crews following them around 24/7, video-documenting their every move. Don’t worry--I’m not suggesting you set up your clients with reality show deals of their own. But I AM recommending you carefully listen to the sage words preached by Judith Kolva--author of this week’s companion article on encouraging clients to chronicle family histories by interviewing family members about generations past. We’re not talking about doing a cursory, slapdash job, here. We’re talking