What does the head of a family business need to do to develop the leadership that will lead the business and family to the next generation?

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Seven ways for preparing the next generation to lead the family and the business … to the next, and the next generation.

  1. Be a model of leadership yourself.
  2. Demonstrate honor and respect for family members who are leaders.
  3. Provide younger family members with opportunities to lead.
  4. Encourage the development of individual & innate leadership styles, recognizing that all leadership is not same.Gabrielle Gillfords, Martin Luther King, Oprah Winfrey, Ronald Regan, General Patton, and Steve Jobs were all leaders with distinct effective leadership styles and traits.
  5. Encourage their involvement in leadership activities elsewhere – school, professional associations, in the community, etc.
  6. Encourage the attitude of “What do I want to accomplish for the family and in the business?”
  7. Help them learn to identify leadership opportunities within and outside the family business.