Mentors Aid Successor Development
by Craig E. Aronoff, Ph.D., and John L. Ward, Ph.D.
Co-Founders and Principles of the Family Business Consulting Group
Pairing up with a personal mentor for three to five years can be invaluable to a successor.
A mentor’s job, in part, is to help the successor learn to exercise judgment, take risks, accept a philosophical commitment to sharing and relate to people in an empathetic and intuitive way. The mentor also may confer specific business knowledge, particularly if he or she is skilled in areas the successor wants to develop.
A primary qualification of a mentor is a keen regard for the successor’s best interests and a desire to help the successor become even more successful than the mentor. The mentor must be someone who would never feel threatened by even the wildest success on the part of the successor. More…
Ever get the Feeling…. “Business isn’t Fun Anymore!”
by John L. Ward, Ph.D.
Co-Founder and Principle of the Family Business Consulting Group
As advocates of private, entrepreneurial companies, we’re greatly troubled by the growing exasperation of business owners. “Business just isn’t fun anymore!” is a phrase we hear too often.
We understand.Business is more complex than ever.Change is more gripping.Either is problem enough.But business owners tell us that their real problem is they feel they have less and less control over their own destiny in this sea of change.And that, they say, is what really gets to them.
Entrepreneurs, by their nature, their proven psychology, seek to control their own destiny.As one said, “All this change is tough enough, but so much of it is just unpredictable and irrational.How do I respond to it?Even if we work hard and smart, there are no answers!” More…