Preparing the Next Generation
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Fall 2015 Newsletter 
The kids are back to school, the sun is lower in the sky, the warmth of summer is winding down and the crisp air of autumn will is upon us.  For some it’s the holiday season and for others the holidays will soon approach.  It’s time for reflection on what works and what doesn’t.  So here are some thoughts to consider.
Paul and David

Top 5 Mistakes in Preparing the Next Generation for the Family Business

Often, with the best of intent, parents err in bringing the next gen into the business without adequate preparation.  Eager to please their children (and themselves), based on either need or desire, parents provide the kids with a job in the family’s enterprise all too soon.
Learn more about the importance of raising the next generation without a sense of entitlement, the need for clarity on roles and responsibilities when the time is right, the importance of periodic performance appraisals, structures for enhanced communication, and an appropriate governance structure.
Click Here for the Complete Article
Transition Consulting Group

Time for a Time-Out

When the kids are young and conversations get tense, parents often call for a “time-out.”
This can be an effective parenting technique with youngsters.  Likewise, when the kids are adults working in the family’s enterprise it’s often an effective technique on their part when relationships are overly stressed and communication fails.
Recently, we’ve seen an increase in instances when the next gen family members have had their fill of the family’s enterprise.  In some cases, the younger generation family members are victims of “The Top 5 Mistakes” (see article above).  In others, the personalities and styles of parents and their adult children are simply incompatible and despite all attempts to peel back their differences and achieve resolution, it’s time for a much needed break. 
A “time-out” isn’t a failure.  It’s an admission that something simply isn’t working and, at the moment, can’t be “fixed.”  A successful time-out gives family members a chance to reflect on goals and objectives for their relationship and for the family’s enterprise.  Sometimes this is or a few days, sometimes for a few months.  And, often, after an appropriate period of time, family members come back together stronger than ever.
The Peer Alliance

Sales Leaders Forum

Leading author and sales management coach, Suzanne Paling, and family business consultant, David Karofsky, are teaming together to facilitate a forum for sales leaders in family enterprises.
While all sales executives have a broad array of shared challenges, sales leaders (both family members and non-family members) working in a family enterprise have their own unique set of challenges.  These can range from strategic alignment to leadership, authority, autonomy, accessibility, influence, and more. 
This forum is designed exclusively for sales leaders with at least one direct report.  In this confidential, non-competitive, professionally facilitated setting, sales leaders will address these challenges with their peers.  Learning from the experiences of others, forum members will build trust and enduring relationships to drive superior personal and business results.
If you are a sales leader in a family enterprise, please join us on Thursday, October 22nd from 5-7 pm at Framingham Country Club for a cocktail reception to learn more.
Click here to learn more about The Peer Alliance or simply give David a call at 508-875-7751.
Click Here to Register
Listen to Jake Grossman, a fifth generation member of The Grossman Companies, a real estate investment, development and management company in Massachusetts, talk about the benefits of The Peer Alliance.

Family Business Blogs

Check out some recent blogs that we have written!!
The Heat of the Moment
Advice to the Giver and Receiver
Families that Play Together, Stay Together
The Dress Rehearsal
The Family Business Time Continuum
Happy New Year
Managing Succession
A Time to be Thankful
Three Components of Effective Feedback
Are you a Senior Preparing for Transition? Try Looking in the Mirror

People Analytics vs. Traditional HR
Reinforce Someone Doing Something Significant
GIVING BACK: The Responsibility of Family Enterprise
Transition Consulting Group
The Peer Alliance


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