Preparing Next-Generation Leaders—Do Our Children Have
What It Takes?
 By
Henry D. Landes
September 2002
There comes a time in the life of most business families when two
inevitable questions arise in the minds of the parents: (1) Who
of the next generation will (or can) assume primary leadership in
the family business? (2) Does one (or more) of our children have
what it takes?
The parents, who in many cases were the founders of the business,
may be starting to think about retirement—or at least cutting
back substantially from the business’s day-to-day operations.
Quite naturally, a son or daughter of the owner(s) often has the
inside track, but heredity is not necessarily destiny. Special professional
skills and a high level of personal maturity are required to provide
leadership for any business, especially a family business. Hard
questions call for tough answers. Both heart and head are needed
for this decision, but the head must have the final say on this
one.
An article by Ivan Lansberg, which appeared several years ago
in Family Business magazine, tells the story of the son of an owner
who was being groomed for the top spot in a company in Spain. There
was one problem, though. While the 45-year-old had been very good
at getting things done in a subordinate role, consensus emerged
that he still had a lot to learn about being a leader.
Lansberg notes that making the transition from doing to leading
can be surprisingly daunting. Why? A whole new range of skills is
required. The son plainly wasn’t ready to take the reins in
Spain until he had been mentored by a few outside directors—and
had weaned himself away from some old nose-to-the-grindstone habits
while developing a broader vision of leadership.
How do parents and their children—together—make this
momentous decision, which clearly is of great importance to everyone
in the family, as well as to the continuing success of the business?
Following our May 15 Forum, we conducted an exploratory meeting
with more than 30 seniors (current presidents) and prospective successors
to test our idea of providing more intentional support to business
families facing this vital question.
Based on feedback from the May 15 meeting, plus extensive conversations
with members and clients, we’re now launching our first Next-Generation
Learning Lab. Designed exclusively for next-generation leaders,
this unique tool combines individual mentoring with group-based,
peer learning. The give and take of this setting mirrors in many
ways the dynamic team-building experience of the family business
itself.
The Next-Generation Learning Lab
will meet monthly to focus on key management and ownership skills,
systems and processes. Marty Roark, the chair, will prioritize topics
and issues based on each member’s Personal & Professional
Development Plan (see Policy Handbook
for Business Families, Section 2-3). Group processing of
member issues will provide practical counsel from peers, as well
as an experienced mentor regarding current and emerging business
issues.
Again based on member feedback, Learning
Lab participants will have quarterly mentoring sessions with
Marty to address the specific learning and management issues of
each member and to integrate each member’s issues into the
monthly meetings.
The initial Admission Interviews commenced in June, and I’m
pleased to report that ten people already have been admitted. September
25 will kick off the ongoing monthly meetings.
We’re still scheduling Admission Interviews. If you or someone
else in your family business is interested in being considered for
membership in the Next-Generation
Learning Lab, please call Sally Derstine at (215) 723-8413.
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