Yes, It is the kids that you need strong trust and relationships to move deal flow forward!
If the next generation does not show the passion or competency to lead their company to new heights, selling is a viable option...so says my client who engagement me this year to help discern which way to go.
Then the clincher...the owner says that his issues with his kids might partly be his fault.
So sets the family dynamic!
"Oh! But dad hates conflict so it is hard to engage him. We do not think he listens to us half the time." Dad, "I feel like they are still kids, even though they are in their 30's."
A hint of adolescence that can be resolved by changing the parent/child dynamic.
It has a lot to do with kids feeling validated and the parents ability to step back and allow more freedom for the kids to operate. Never as easy as us parents want!
The question I am now wrestling with is: how willing is the dad [president] to carve out a CEO role as a means to step back. If "yes" we can allow the next generation [and all of the involved cousins] to step up and see how good they really are.
If not I will need to use the 80/20 rule with the father and help the kids figure out a more significant role than the father currently allows.
If the kids don't step up and "pass", I will be looking for one of you to intervene in the sale!
No comments:
Post a Comment