How next-gen leaders can take charge of their future
Lifelong learning, family charters and succession plans each play a role.
Next-generation family business leaders are focused on lifelong learning to develop their personal talents and capabilities as future owners of the business. However, many say that following their dreams is most important, even if they need to leave the company to pursue another career.
In either case, it’s helpful to have clarity around family values, objectives and expectations — and a family charter can help. Even when a family charter is not in place or has not been finalized, getting everyone together to start the process can help to address important issues, such as succession. Having a well-structured leadership succession plan allows the next generation to transition more smoothly, creating a positive feeling among both the outgoing and incoming leaders.