Perspectives of the Younger Generation
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December 2013 Newsletter 
David and Paul KarofskyTo our clients, colleagues, family and friends:
This holiday season we wish you and your loved ones all the best as you celebrate together.  Park business topics aside and simply enjoy the presence of one another.
With our warm regards,

Paul and David

Perspectives of the Younger Generation

At a recent conference, we had the joy of listening to a panel of members of the younger generation as they shared their topics of interest and concern around their family businesses.  These panel members are the future of their enterprises, the stewards of family wealth- both tangible and intangible.  It is their values that will serve as the foundation of their businesses going forward.  Unlike many of their parents, they will risk the “difficult conversations” to address uncomfortable issues.  They recognize the need for planning toward a seamless transition of both leadership and ownership.   The messages from these younger generation leaders could prime a text book on successful succession and provide an opportunity for acknowledgment and reinforcement by their parents.
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Transition Consulting Group

Let's Shift from "What's Wrong" to "What's Right"

So much of the conversation about family business seems to be about “what’s wrong”  with a focus on the problems, challenges, disconnects, and conflicts.  Too little is said of the advantages - the joys and rewards of working toward a shared vision and goals with those we love.  What about giving the next generation the extraordinary opportunity that was given to us?  What about the pride in perpetuating the legacy, values and culture of our parents or grandparents or maybe great-grandparents and the delight in guiding, coaching and supporting our children as they mature into proficient leaders?    What about the pleasure of seeing our parents have freedom for meaningful pursuits- like spending more time with their grandchildren?     What about the ability to control our own destiny and even expand and diversify from a solid foundation?  What about patient capital, a longer-term view, and the research confirmed unparalleled competitive advantage with less managerial politics, ease of decision making, more flexible practices, efficient communication, employee loyalty, and lower transaction costs, closer relationships with suppliers, customers and other stakeholders, and a superior return on investment?

This holiday season, let’s make time to rejoice in the precious opportunity our family members have given us to be able to work together.  Let’s truly celebrate!

1 A Resource-Based Framework for Assessing the Strategic Advantages of Family Firms, The Best of FBR II by Timothy G. Habbershon, Mary L. Williams
The Peer Alliance

Women's Forum Groups

On November 21st, we had the pleasure of hosting 15 women who expressed an interest in joining a forum for women in family and closely held businesses.  In addition to the expected topics of interest, such as communication, succession planning and transitioning the business to the next generation, these women expressed interest in topics not typically prioritized by their male counterparts.  These include gender and generational differences, work/life balance, skills inventory (do I have it or do I want it?), what’s right for the business vs. what’s right for the family, and what to do if I don’t want to be CEO.  These topics and more will provide initial and ongoing subject matter for shared dialogue among Forum members as they draw on their individual experiences in a learning community with a confidential setting.
         Women's Forum Group
David Karofsky will co-facilitate the Women’s Forum with Jane Hilburt-Davis.  Jane has been our friend and colleague for many years and brings a great set of skills to The Peer Alliance from her experience as an educator, consultant, advisor, and author.  She and David are looking to launch the first meeting of the Women’s Forum in February 2014.
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Family Business Blogs

Check out some recent blogs that we have written!!
The Dos and Don'ts of Delegation
The weird science of in-laws
Conceptual thinking is here to stay
When hope is not a promise
Leadership succession whose call is it
Transition Consulting Group
The Peer Alliance

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