Perspectives of the Younger Generation
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November 2014 Newsletter 
David and Paul KarofskyAs turkeys are scrambling to escape their capture, family members are making plans to celebrate together.  Thanksgiving is a famed North American tradition.  Having just been celebrated in Canada, those in the United States will gather shortly.  With roots including English traditions and harvest celebrations, today’s family gathering is the perfect time to express our appreciation of one another for the opportunities we have to work together.  Savor the joys, celebrate your success, and honor one another.  Happy Thanksgiving to all.
Paul and David

Perspectives of the Younger Generation

“Out of the mouth’s of babes” is an expression that goes back to biblical times and still applies today.  The younger generation from today’s enterprising families possesses not only clarity and depth of understanding around transition and succession planning, but the courage to ask the tough questions.  In this article, learn about the impact this new generation of leaders is making.
A recent conference for enterprising families – those in family businesses and others who had significant assets in common – included a panel of members of the next generation.  These were heirs apparent, the chosen ones who are challenged with the opportunity and responsibility to take their families’ enterprises to the next generation.  Theirs is a role of stewardship for not only the tangible assets traditionally associated with wealth, but the intangible ones – the values that can sustain and even propel the family forward.
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Transition Consulting Group

Adam's Act of Recognizing

Discussions at the Thanksgiving table will take a variety of forms.  In some homes, family members will share the latest news about themselves around school or work, health and travel.  Others will discuss politics and current events.  Some will struggle but hopefully resist talking about business, especially with those who do not work in the business.  And in some homes the depth of dialogue might be, “please pass the salt.”
What will you do to make this year’s Thanksgiving dinner a celebration?  What can you do to help ensure that your gathering will be a positive experience – an event that family members will look forward to in years to come?
A couple of years ago, we wrote about “recognizing” people- a family exercise introduced to us by our oldest child/grandchild that has become a Thanksgiving ritual.  Family members go around the table, and openly recognize one another with an expression of respect or appreciation.  It produces smiles, hugs, sometimes tears and always a feeling of warmth and love.
The Peer Alliance

Family Enterprise Topics of Interest

We recently hosted a reception to introduce The Peer Alliance to prospective Forum members.  With more than 20 people in attendance, we talked a bit about the history of our Forum experience and then asked a few current Forum members to share some of their insights – their reasons for joining The Peer Alliance and how it has benefited them. 
We then went around the room asking prospective members to share what prompted them to join us that evening, their topics of interest and what they’d like to explore further.  Among the topics were the following:
  • Building an infrastructure
  • Succession planning
  • Balancing family and work
  • Growing the business and the organization
  • Best practices for roles and responsibilities
  • Achieve success in the business and still take a vacation
  • Fairness in the family business
  • Setting personal and business goals
  • Managing expectations
  • Dynamics between family and non-family employees
It never ceases to amaze us how pervasive these themes are in the world of family enterprise.  The twist, of course, is how they uniquely apply to each different family and to each different business.
The benefit of The Peer Alliance is our members’ ability to share openly their own experience for the benefit of one another.
Click below to hear what Jake Grossman, a 5th generation family business member, has to say about The Peer Alliance.

Family Business Blogs

Check out some recent blogs that we have written!!
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
The Greater Good
Let it Go
The Clearer You Are About Your Vision – The Better it Will be Executed
Is “Good” Good Enough?
Transition Consulting Group
The Peer Alliance


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