The Group Throne
by Ira Bryck
Two brothers listened intently to the compelling words of their dear, departing father. “You both worked very hard in our family business. You did your jobs well and you each struggled to show me how you could lead this company one day. Sorry, but I just couldn’t pick one of you above the other. Finally, I’ve made my decision. I want you to both be presidents…Co- Presidents. But listen up: if and when you can’t agree, when you’re in absolute deadlock, call my brother Michael in California. I know you never liked him, but he’s a smart guy. He’ll listen to both sides, and then decide. More…
Preparing the Next Generation
by Leslie Dashew
Adding Value to the Next Generation
One of the greatest concerns in families who own businesses and families of wealth is how to assure that their assets will add value to their children’s lives–not hurt them. One of the particular challenges in parenting is how to give our children the right opportunities. Too often, we equate giving with gifts, setting things up for our kids, or making opportunities for them. However, these kinds of gifts may, in fact, be taking away opportunities for their growth, not adding to them.
When children don’t learn to use their own muscles (to talk, walk, or work) these muscles atrophy in the same way other “muscles” atrophy when children don’t learn to use them on their own. For example, if children don’t gain the motivation to do for themselves, they have little practice in developing their own competence (and thus their self-esteem), and then they lack a sense of responsibility for themselves or others. So preparing our offspring includes giving them the opportunity to do as much as they can for themselves, with coaching along the way. For many families with whom we work, there is a desire to perpetuate a family legacy. More…