The role of leadership is to define, embrace, and secure the future. We serve an important leadership role as facilitators and guides for the development, growth, and continuation of the family in business legacy. To ensure the successful continuation of the enterprise, multi-generational leadership is essential.
Next Generation Education
Multiple generations are involved in family-owned enterprises, whether they work in the business or not. It is essential that the next generation, often sibling partners and/or cousin groups, be educated in the responsibilities of owning a business. Facilitating the development of trusting and supportive relationships, while providing clear guidance on applying the family’s values and business decisions to achieve a shared vision, is key. We serve our clients by creating conditions for developing relationships in order to perpetuate the family legacy and successfully transition the enterprise under their stewardship.
The family ownership charter is designed to facilitate agreement on the vision, values, roles, and responsibilities that will guide the family now and in the future. Questions around what kind of family do we want to be and what does being an owner mean for our specific enterprise need to be discussed and answered. Learning to make decisions together is important for the next generation’s ability to engage and effectively work through differences.
Board of Directors Development
Legasus Group family business advisors are instrumental in facilitating the development of effective governance structures for family enterprises. The unique culture, structure, and dynamics of a family enterprise are different than traditional governance models. Guidance from an active board development can be invaluable when independent board members are knowledgeable about the unique role and impact that the “family effect” has on growing the family enterprise.