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What is one to do if this key source of development is—like so many other things—disrupted in today’s context of a pandemic and down economy?
Preparing the next generation (Next Gen) is a critical step on the path to succession in a family business. There are many ways to create development opportunities, starting with exposure in “small bites” from a young age, in age- and stage-appropriate ways. Think: formal education programs, or spending time in the proverbial “mailroom” (or its equivalent), or accompanying a family member on a job, and more.
He pushed me beyond my comfort zone, but I liked it.
At first, we were concerned, that hiring an outside CEO would feel like a loss of control. But in a strange way, we almost felt a sense of relief. Relief that the family could tap into a resource that could support us in growing the business through fast growth.
Either be on the table, or be on the menu