Your Older Generation is Ready to Retire... Now What?

After a long day of meetings yesterday, a 73-year-old business owner said, “You know, I don’t have anyone else that I can talk to about my business, and my family.”

He spent over 40 years putting his heart and soul into the success of his organization. Like all business owners, he needed to plan for the future. He needed to identify and develop the next generation of leaders. Sound like you?

How do you begin to assess the strengths and weaknesses of your Next Gen? How do you find the right external consultants? How do you provide productive performance feedback to your leaders? All of these questions can make the task of succession planning or leadership development seem daunting. They may make you hesitant to seek help in these areas.

If you hesitate too long, you risk making costly mistakes in leadership succession planning. Disagreements and tension within the family can compound. Uncertainty about the future of the business causes stress within the organization as a whole. As leaders, you need to provide a clear vision of an optimistic future.

You need the tools and the process to bring clarity, peace of mind, and real solutions to your family.

Resource: Assess Next Gen™ is a validated and custom-designed 360-degree assessment process for family businesses that provides a detailed and comprehensive assessment of your key leader’s strengths, weaknesses, gaps, and potential. 

One of the many benefits of using Assess Next Gen™ is the ability to accelerate trust between generations through its commitment to confidentiality. When we invite people to participate, both non-family and family participants can trust the process and feel comfortable sharing their honest opinions and feedback. The Assess Next Gen™ process also includes deep one-on-one conversations with over a dozen people who can provide honest feedback about the strengths and gaps of your rising leader. Even family, friends and in-laws provide valuable perspectives. 

The Assess Next Gen™ process requires an advisor to facilitate the process and provide a tailored development plan that can ensure the continuity of your key leaders.

Family business leaders do not need to fear the future. Our clients flourish when they leverage the strengths of their key leaders. How about your family business? Are you ready to learn more at Assess Next Gen™?

The fear of the unknown is common to all leaders, but family business leaders do not need to hesitate any longer. It doesn't have to hold you back from ensuring the success of your family business for generations to come.