By 2022, almost 37% of Indian family businesses would go through a generational change in leadership . The next generation is taking over the reins of the business amidst growing opportunities on one side and complexities on the other.
While the next generation is well educated and have huge potential, they encounter several inevitable challenges – internal resistance to their new ways of looking at things, loyalists who are wedded to the original formula of success, their own desire to get better at execution, balancing between tenured employees and new hires, fighting comparisons between them and their earlier generation in terms of values and styles.
All of this calls for reflection, planning and preparation. This is where seasoned coach – mentors who have been there and done that can make a difference.
CFI’s Coach – Mentors who have worked with family businesses, understand family dynamics and have been part of such transformations are best equipped to guide family business owners to achieve their aspirations while respecting and retaining the family values through enhanced functional, business and leadership competencies while also learning to deal with the inevitable dilemmas and conflicts.
If you are a family business owner in the throes of transition, do talk to us.