Next Generation Leadership Coaching

5 Tips for an Easier Family Succession Plan

What happens when your family members are divided regarding your family succession plan? Business is hard enough, but when it's mixed with family, conflicts can arise. Next generation leadership coaching can help—as can developing a greater understanding of what makes your family tick. Here are a few important tips.


1. Go to Family Conflict Counseling


Counseling can give everyone the tools they need to express themselves and discuss their feelings. It's easier for family members to find good solutions when they aren't stressed or upset at each other.


2. Engage in Leadership and Skills Coaching


If family members are being left out because they don't have the skills, make it clear what skills they have to develop and point them towards the right coaching services. It may be that they can rise to the occasion but aren't sure what the goals are.


3. Discuss the Plan Often


Make sure that everyone is always on board with the succession plan. If it's changed, they need to know that in advance to avoid disruption. The more natural it is to discuss the plan, the easier problems can be resolved.


4. Get Creative


Not everyone can be a CEO. But people can be a CFO or a CTO. Take a look at your family and see what they really enjoy doing. While you don't need to justify your choices, taking the time to explain it will help them both understand and accept it.


5. Consider Alternatives


Sometimes you need to get really creative. Consider a carpet store with three children: the parent, not wanting to choose favorites, might simply give each child their own franchise of the store. This allows the children to prove themselves on an even playing field.


Family conflict consulting is difficult, but with consulting and next generation leadership coaching, you can ensure that your business is going to remain in the family. Contact Telos Group for more information today.

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The Telos Group is a global consultancy that provides private, hands-on expertise and guidance for multi-generational family enterprises.

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