Next Generation Leadership Development
The first part of any succession is determining if the next generation has sufficient “Interest” and “Capability” to successfully run and manage the family business in the future, and cultivating that capability to develop what we call an OWNERSHIP MENTALITY.
A multi-faceted approach is critical to developing the next generation. Clearly, business knowledge must be acquired and particular skills must be learned. However, as any successful business owner can tell you, experiential development is most important. The below graph shows what we at Family Business USA consider Critical Success Factors to leadership development-