Invite Your Next Gens to Leadership

A family business adviser shares how to improve family dynamics to help younger family members get ready for top roles.

To keep a family business within the family, younger family members must be ready and willing to step into leadership roles. But all too often, older generations are unsure how to encourage them, and next gens worry that their ideas may not be welcome.  One problem is that older leaders, who grew up in a more reserved era, may be uncomfortable sharing their feelings, while younger people are more expressive and need to be heard. 

Elizabeth Bagger, founder of Avanti Family Business Advisory, has helped many family firms bridge that divide.  In this interview, she shares her thoughts about how both generations can build mutual respect and understanding, and improve family dynamics so that next gens can become confident leaders. She encourages older family members to invite younger people wholeheartedly into the top ranks, to listen when they share their hopes and dreams, and to give them real responsibilities that prepare them for bigger roles.  Younger family members should respect what their elders have created, and understand that changing the family business may not happen overnight. 

Above all, she says, keep talking to one another without judgment. "We tend to fill in the blanks with negative things," she says. "When you don't talk enough about family dynamics, your assumptions will get in the way."