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Colin McAllister
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I have the wonderful opportunity to partner with many family firms, 1st generation and beyond as an #Executive #Coach and/or Management Consultant. This HBR Article speaks to the strengths of the family firm as it relates to their efficiency in the R&D and the innovation process. What is interesting and I have seen often is how this transforms as newer generations succeed the previous one. They bring new ideas, a different mindset and in many cases a new level of energy that often the previous leadership may not have anymore.

This brings a unique set of challenges for both the upcoming leaders and those preparing the new leaders. One for example is understanding the “details” … it’s great to have wonderful new ideas and innovations – but the numbers must be sound. Family business Win in this category – the may be frugal but it is a strength relative to other firms in the context of innovation (When they innovate – some skip this process to their detriment – another topic).

This leads to an empowerment opportunity for the current leadership – empowerment and letting go of control is one of the most difficult challenges for most leaders – this seems to be exaggerated in the family business.

If this is something that you would like to connect on feel free to contact me at colin@perspect.ca or visit us at www.perspect.ca

An Executive Coach can support you in developing upcoming leaders senior roles in the family firm as well a partner with you in getting past the letting go of control and empowerment issues that plague most if not all leaders to some extent.

If this is something that you would like to connect on feel free to contact me at colin@perspect.ca or visit us at www.perspect.ca



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