Preparing the Next Leader
Training leadership candidates not only means bringing them into the executive suite, but also encouraging them to pursue outside learning and cross-training in different parts of the business.
One of the other unique challenges facing business owners with family-based successors is how to train and promote the next generation without alienating employees and even other relatives.
One solution may be to encourage potential family successors to work outside the business for several years. When they have the experience to join the business, you can hire them at a more senior level without having to 'engineer' an artificially rapid rise.
When training family members in the business, it may also be wise to give non-family managers the freedom to treat that individual in the same way as any other employee.
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