Family Leadership Strategies

42 Families could also engage a third-party consultant to structure and facilitate these discussions, and encourage non-judgmental listening. It should be understood that individual attitudes and beliefs might change as a result of this dialogue and the ongoing transition process. As such, it can be an emotional journey. These discussions may also create animosity, arguments, or even a ‘falling out’, with one or more family branches spinning out and taking their assets with them. Conversely, such a process can clarify and enhance familial bonds and strengthen a family. Families need to be prepared for both outcomes. Such candid communications also allow participants to ‘clear the air’ with old grudges, misconceptions, and unproductive behaviors that may have built up over time. Creating healthy and constructive patterns of communication where conflicts are managed and intentions clarified has wide-ranging benefits for families beyond the transition process itself. It also serves to give next generation family members healthy behavior models from which to learn. A final note on role behavior. An effective transition process encourages all parties involved in the process to demonstrate exemplary role behavior. It is an opportunity for successors to act like leaders, and for seniors to demonstrate the very best of their leadership skills. Words pale in contrast to behavior. Avoid situations where one’s behavior is inconsistent with their expressed beliefs. 1 In some family systems there may be multiple sub groups. These include key employees, minority shareholders, strategic partners, or even communities where the businesses operate. 2 Anecdotal evidence suggests that successful multi-generational families pursue both wealth preservation, as well as values/family harmony preservation goals. 3 Most often this will include the most senior family members along with adult wealth inheritors. In large families, family branches may be represented by one or more individuals so as to limit the number of participants in the dialogue.