FOR LEADERS CREATING A NEW FUTURE
Most family businesses are run by a single dominant leader – the founder. The business and managers themselves generally develop around the strengths and weaknesses of that one central leader, who most likely has a directive leadership style.
The transition of a business to the next generation calls for a collaborative leadership style. New skills are needed when a group of leaders who have been working one-on-one with the owner, strive to become an interdependent team. Collaboration and peer-to-peer accountability demands different conversations, higher levels of listening and well-developed leadership skills. The roles in problem-solving, conflict resolution, negotiation and consensus building require new thinking and a different approach.
The responsibility of leading a successful business today and growing it to the next level of success can be a big mountain to climb. A multi-dimensional approach to preparing the founder to relinquish control and the incoming leaders are critical to a successful transition and securing the future of the business and the family legacy.