Preparing the Next Generation of a Family Business.

Preparing the Next Generation of a Family Business.

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Well. Hello and welcome to this episode of, the family business podcast, I am, joined today by Guillermo. Salazar. Who, we are speaking to all the way from Texas. Firstly. EMI welcome to the, show great for you to join us today regular, very much for writing and like. You are a family. Business consultant. You've been providing, advice to family. Businesses for 20-plus. Years. We're. Going to be talking today about what. Family, businesses, can do to help better, prepare their. Next generation, given. Where we are we're recording this during the, global, pandemic, so, I'm sure there's some interesting stuff that we're going to be covering but before. We sort. Of get into that you want to just give a little bit one on your background and how. You, came to be doing what you're doing today, well. Thank you, basically. What I've been doing that trying, to find out some answers to. The, questions I've been made myself I come from a family business and I. Start wondering how can it be possible to work with this, bunch. Of crazy, people which. Is my family and. I. Am. Architect. I come from a family business construction. Company and then. I start to figure. Out that there will be some knowledge related, how to work with family businesses and then it was back more, than 20 years ago I start, to study, and, eventually. I had. A degree in family therapy and. Then. I start to work with families in business so. I, found. Out that, most of the solutions that can be work. As. A, way. To. Depict. The complexity, of the family businesses, was, focused. On family dynamics, and. Working. With that in. Mind I've. Been. Creating. A methodology, to, help. The families in business to, in. Some, cases to, just, push them to, do the the little. Step up and help it to evolve in other cases or deeper in a real complex. A structure so help, them to do, that. What they need to do to go to the next level so that's, basically what I've been doing in, last, two decades, fantastic. And I'm. Sure you've seen a lot in those two. Decades, but perhaps nothing quite as. Severe. As we are seeing at the moment in terms of as. Obviously, as a global, pandemic. Is, still, running rife. Across. The world. How. Has that impacted the, families. That you've been working. With I mean we were speaking affair. About how so, technological, advances, have been sped. Up as a result of that would be enforced into a lockdown scenarios, a lot of times but what. Else you seeing from the families at you're working. With well. We've been seeing. Difference. In areas well, basically, depending, on the kind of industry, you are in. And. We had clients that had. Been had, a tough. Moment but not that hard, basically. Those that are in the retail, industry. Mining. Energy, I. Will say that some. Specific. Services, related with technology, are. The ones that are being, here in the.

Less. Say, but. The rest of the families and this is I having. A real tough time on trying to understand. What's still, going on around them and. The. Other thing is that it. It's, this, situation has increased, the. Conflict. And. The. Way. To understand, one generation, with the other in. Terms of of how do they interpret. The. Environment right. Now and it's. All related with the IP right, with a generational. Cultural. Frame, that. That we've been. Witnessing. In in in the last year's but now it's very evident somehow, this is being, increasing, this huge. Difference between the way of seeing in different. Generations. Yeah, and. I guess the current situation is as well as been a catalyst, for change from. A technological. An economic standpoint it's. Also a catalyst, for change within, the. Family, business that you say that it's. Kind of squashed together that. Potential. Difference, in. Viewpoint, from one generation to the next and, I mean, the topic of what we're gonna be covering today is how. Family. Businesses can develop, that next generation, but it's, probably worth staking it out so there is a it's a cooperative thing, rather than you, know everything be laid on the plate for the next gen is it's, going to be something it's. For the overall, benefit, of the business and, your family involved yeah. Absolutely. What's what's going on for example just to mention one. Situation. That we we, can understand. Recently. We, have been seen some statistics, of how, different. Generations. Interpret, what's going on with the coveted item and. How. Do they expect, to go back to the normal life. When. You ask a, baby. Boomer or a Gen, X which, is the iteration I belong, to and. When, you compare those. Points of view with the ones of the Millennials or the, gen, 3 or whatever, name we are given, them there. Is a huge difference on one of. The situation, they. Did, I, would, like to focus on the Millennials, which is a very. Very very, way to understand, and identify this, generation, they.

Feel More. Comfortable than. A baby boomer origin. X they. Feel. That. This. Situation is, something, that could. Have an outcome, that. It's is. Better. To. Fit. For. Them in the future than. To. The previous generation and. By. The end they feel better, than, the other immigration, so. Saying. That the, way that you approach to the same problem it's. Always, something, that you have to understand. To manage among. The. Different. Intentions. The Dalai the dialogue the the conversation that you can generate, because not, everybody's. Feeling, the same kind of pressure. The. Same kind of of fear. Or the. Same kind of opportunity, feeling yeah and. I think. I'm. Guessing you see within the families you're working with that difference where perhaps, one. Generation is that they're thinking well this is terrible, this is I'm quite fearful for what the future holds for my family, and my business and yet there could be others in a different generation okay and this is a fantastic, opportunity for us to innovate. Drive. The business forward to, create something new going forward and. Balancing. That I'm, guessing is pretty tough because you. You, can't change how somebody. Inherently. Feels all its concern about something in, a in a very easy way, yes. Yes, in fact what they have discovered that we have. Three. Basic scenarios. Where, you can find a way to approach to the same problem we we will have the protagonist, that, they are the real creators, of change they. Can be innovators, creative. Sometimes. I'm wrong but. They, are very resilient and they can move forward. You. Don't have to be a millennial to have that, kind of attitude but. You, have to have the attitude of a millennial, if you want to go through then. The other scenario that you will have are they adapted, that, they are, basically. That, with. The mindset to follow the, protagonist, they, will see if that work I will follow it otherwise, I will stay where I am and. Those. Are people that want. To be very sure of what's happening, before, they put the change and, they. Understand, that they need to do a change but they know. Let's wait to see what happens first, so this, is I will say that this, is the. Medium. Size of, the of the of the universe that we work with people that really need to understand, that something. Is going to shame but let me first see if that's something that would work for me another. One, the third scenarios, are the witnesses. This, this is the people that resist the change they want to go back to. The previous. Life they day or enemy, or any means they want to. Criticize. And, and acting. In a way that everything, must, move back, again to where it was so, we, are still seeing. Less, and less and less people. Like this in. Every day of these endemic. Situation, yeah it's definitely, we're moving to a new scenario. And either. You are a protagonist or you are a. Witness, or or you. Are an Arab kept of what. You are seeing yeah, and I, guess those people who I. Don't. Want everything to stay as it is will go back to how it was before and as. This. Pandemic. And, situation. Plays. Out and progresses, they're. Being shown whether that's realistic or not because, we. Hear fantastic. Examples, of businesses, that have pivoted into doing something completely different or completely. Adapted the way in, which they deliver their services. Again, you and I were talking, beforehand. About how we, deliver our services, has changed because of the you, know use of technology, and the lack. Of ability to sit face-to-face now, and. Those. Businesses, that just freeze and don't do anything and don't adapt and don't change I'm guessing at the ones that perhaps, aren't gonna be around for, a very.

Long Time because. They're. Just not adapting, what's what's happening with the world mm-hmm. Yeah, in fact I have a client it's it's very funny because when, all of, the situation's start this, this. Particular one is a family business. They. Are they. Have like. 50. Or 60, hotels, here, the US and. What. I asked them okay in, the first family council we have. Are. You afraid are you, that. You have fear I mean I will, be very, preoccupied, of what's, going on this, business they say you. Know what we've, been in business for seventy years. We. Know, what what, we can do you know we know that we we're going through this and we will have to do whatever we need to but, we are pretty sure that we are going to overcome, this situation so. That's one of the point, that, we have seen also on their families, in business, resilience. Which. Is basically, a. Model. That we have been replying. In every situation they, have they, have three facts that is really. Helping them to move, forward the, first is that they then they have a structure. Where. They are key and the and the, and. The governance, which is a word that many, families of doesn't like. The. Way, that they, control. The power is is, very, very clear for everybody that's, very important, because we are in the middle of a world and. In the world you need to know who is in charge and that's something that they have very clear the, other thing is that they have a high, level of communication, with, everybody. In, the, system the. Communication. Goes in the proper way with the proper channels. With the proper information and. That's a very important, situation that they have to to live with in the system and out of the system and the. Other one is, that. They have faith, and. When they have faith they, know that things are going to get better after, this situation and. That's the the main field that they have right now because, otherwise, if you don't have faith you. Will succumb yeah, or, whatever is in there you will have and. We've, spoken obviously about the acceleration, of things, that perhaps, would have been taken over a different. Period. Of time in. Old. Normal, circumstances. So so pre Cove it. One. Of those I guess is also the development. Of the next, generation within. A business and. Perhaps. That's been bought into focus, that that needs to be something that is. Prioritized. As part of continuity, plans as part of the. Transition, to that future next generation, given that the world, will again go to emergency is going to be a different place. How's. That sort of shaping your. Own work in that space with the preparation. Of next, year mm-hmm. Yes. It's it's, been affected I would say that, every process every plan that we had. Pre-pandemic. Scenario. After. Four months of living in a situation that no, one could. See come, in I will say that yes all the processes, and all the time have, to be adapted on, what we have right now and when. You start to see what can you do to improve what, you have been doing with the families you'll see that. This. Is a part of the history that they believe in just like this family I told you over 70, years in the in the business, when. You recreate. The, storytelling. Of the family, and when you start to see what artist, the main milestones, they've been to hold. The whole history, of this, family in business you, will see that there is no always a way. Of growth. And. Happiness. And, success. The whole time it is it's, been a roller coaster way, and. Every. Family has, moments. In their life that they, have to. Understand. That, there. Is a challenge, to. That that put, to work the best of them, they. Understand. That in every challenge they. Have to, use their values, in. Order to do the right decisions, and to overcome this obstacle so, what. We have right now is, part. Of the history that they are going through and. Yes. You could say okay most, of the, business, I know that I that have been in a hard time, they. You will say that the history ends here but. No. If. You if you can see what families, are doing you will see that they have faith that the future would will continue in the next year so what, they have now is a part of the history that, they are living in, the way that everyone wants, to be, part of this history so, what we have to do every. Time that we, cut. One want to calm the family on the situation, is them, to focus on what can they do as some. As an individual, to, add value to this part of the history and try. To see if they can fit in a proper way that the, final. Outcome, of the history, that we are trying, to say we. Have a happy end or we. Will have a situation. That we, don't like so, when you start to. Understand. That you are part of a plot, that. We, are building together then. You start to realize okay, I need. To put the best of me to, help them and to. Help me as an individual as a member of the family because, somehow, this will pass, and. You've. Got an example of a. Case. Study if you like of, how. You're approaching this with with a family, and it's, on an anonymous basis, but can.

You Give us a feel, for what. That looks like, yeah, I, wanted, to talk about this case of her we, will we will call, them the chainsaw. It's a disguise name. They. They they, this. Is a case, of a family that he said the typical one they start from from from the real beginning of how to do a business. The. Founder, was, we. Will call him Mac, that, Kasem, he. Starred in a in a modest grocery store in California. And. With. His wife. Martha. They. Started, the beefs and that they really have an, eye for opportunities. And this is the kind of entrepreneurs, that turn. An initial venture, in turn into, a real solid, retail. Organization. And, 40. Years later they. Really have a great, great family. Business, all. Of the the children's a work start to be involved, in they're in the business they, have five children and. What. They created. Was. A. Situation. In. The family, where. There. Were. Mac. He. Really neglected the family he was so devoted to the business that. By, the end of his life he was, one of those, famous. Persons. I would rather sperm spend, my life in my life in my family, but I'm in the business I really regret that, bla bla bla but this is the kind of person okay so. The next generation, happens. To decide. That they will not make, the same mistake, with their families and, what they decide was, that they ban, to. Talk about the business in. Their own houses. So. The third, generation they. Grow with. No knowledge of the business with. No willing, to be part of and. They, parents, protect them, from. The business. Mindset. And, they. Let them to live free and do whatever they wanted. Because. They were very. Privileged, of the part of our wealthy, family, and they. Don't have to be, committed. With, the with the. They. Roll us as the next. Generation in the business and so what we have now is, that a. Second. Generation that it's very, devoted to the business but, has no, possibility, to design a, succession. Plan because. The next generation doesn't. Know what's going on in the business. They. Will be hares, or. Owners. Of some things that they don't understand, that, they don't know and of, course they don't love. Because. He should don't know you don't love so. When. They call us they. Explain, us at the situation, they wanted to, they. Wanted us to make them love, the fact that their, family business and. Basically. They wanted us to do something that they should have done and. Previously. Those. Third-generation, members, were basically, millenials they, were around their, mid-20s. Almost. Theories and. We. Started from the beginning we started to do what we, should have to do is to, help them to know. The company. So. When. We start, to work with them in a program we, design we. Design a five-step, process. Where. We help them in five, different phases, to, go through, a, first. Part, of discovering. What they have then. Know. What they have, then. If they will be good enough they will represent, the. Family business. Then. If, they will good enough they, will contribute to, the family business and in the last stage they. Will govern, the family business so, the two first steps will. Let you go through, a milestone in, the program that. Will give them their, right. That. Was something that we agree. To, work, in this milestone the. Right to be hairs or, to be owners, because. Once you have the knowledge and you have discovered, what you had then. You we will start, to say ok you are now, prepared. To love what you are going to hear so. To. Evaluate that, what. We, asked them was okay you have to present us the family, business and I. Have to feel, that, you. Feel it, and, I, have to you. Really, have to make me, get. Emotional yeah. In, that speech, and. They did and they did and all of them the 50 members all, of them could, really make, your you know you feel in that day they will loving, it because, they knew it so. We call this milestone, the minimum. Check. Point to be an owner, okay.

Everybody, Has to be an owner because, they will be owner so once you have that they, will prepare them to the next step which. Is I want you to, be an ambassador of, these, family business so. I you, will need those skills, basically. You will you will need to communicate it. Would be a good communicator, yeah. I want, you to do at least one, presentation, in a public place talking. About our business and, we had opportunities, in in, those, FBI in. Need. They, will three. Or four of them will present in their. History of the family so, check now, you are in the bus or now you are the person. That can represent us and then. We start inviting them to certain. Committees, in the business, where, they are they will, contribute, with. Their ideas, of what, can. Do, with, their main, objective. That we are looking for them which is innovation, and how, can you help us to innovate in the business and. It was a total, success and. Eventually, and, and it hasn't happened yet we are still waiting for them to meet, the requirement, to. Be. Members. Of the Board of Directors which. Is the last step if, you want to really go burn what, do you own do. You need to be the. Best director, that we can't have and you, will be asked, for the same requirements, of an external, member of the Board of Directors so. We are assuming this pace and what the thing is that we started with the 15, owners. Now they are they are, they. Are worthy to be owners but. Now we only have two. Or three candidates, for the last stage. They. Will decide where they want to stay. It's. All voluntary, you. Cannot apply them. We. Insert a way which we do oblige them to have the first milestone you. Need to have this one but the next one it, will depend on you and you have all all of our help but. You, will need to do it because you want to the way it's, the only way that it works yeah and, that's a way. And. I've bought some time frame has that been. Delivered. How. Long a period is over I, will say that if. We. Are lucky. Enough to, have the first candidate, to be. Worthy. Of having the last like. The last test, it. Will be three. And a half years yeah we're working with but it, will depends on every one of the of the. And. When you spoke to all the the family approached you were, they aware that the. Work. That is. Needed to get to the point where you are now. He's, going to take that long, yes. Because. It reminds, me of you. Know that the fairy, tale all the romantic comedy movies you see, where. They. Want to take a to. Fall in love with somebody and it. Turns out that over time they fall in love with them anyway. And, they didn't, need to potion in the first place is, taking, time and understanding. The. Story, and, the. History. Of the business and, the. Various. Different roles that they can play within that business is, part of that natural process of falling, in love with it rather than trying to force.

The Issue by saying well. If you tell me you love the business and you can become an owner of it because that's it's, just a potion that's gonna last part of that presentation. Bit, what, you actually want is that inherent. Feeling of emotion towards, the business in all of them to be effective, and. Players within the business mm-hmm, yeah it takes time I mean as. You mentioned fall in love you can fall in love in just one hour or you. Can really create, the basement, of forever. Lasting love and. Then people will have it. Time, to. To. Be organically, authentical. So. Yes it but, the first time I will say it can, take you to three to six months to be real. Boundary. Of, state. Members of the next generation, with, the, family business. Needs, and philosophy, that's basically what we we create we define, very very, well with. The family what's the meet that we want to preserve. We. Have to understand what, we, are. We. Are, modifying. On. The way that we receive this mean we're. Going to work with different as in the generation, and we are going to pass. To the next generation, that. Our interpretation of this meet so, this is the way that we create that love for, example we have another client we work with, they. Have a. Museum. They will crust herself, of. Cooper. Elements, and they, created a Museum of of Cooper and, the. Test to, know if they were worthy. Of being, part of the family business was to, do they to guide the tour of the people, through. The museum, and, tell, the story well, I heart that. Was the best for them for example what. An excellent opportunity to see you love, what you have you, know, because. If you're kind of trotting around with your head down, well. This is that this it's gonna be pretty obviously, you know I'm. Failing it's a very practical way to, understand. That isn't it yeah. And, you, can see with it with the with the tourists that go to the museum when, they feel the emotion men. You you have a real, owner and because. They love what they have this. Is something that you can do it just discovering, this mystery what's what do they have what who, are the keepers on what's, the market they are in what the products are they are creating, why. Do are why, do they belong to this, history. And of course that, creates identity. And. And, that's what you're looking for that's what you need for a next, generation. Owner, so, once you create that you can build other things but. If you don't have that it will be very hard to force, them to, be part of this project of the, family business product so, what I have been happenin, these days the. Previously. To all of this process do you have to the family must have all, of these structures that. Will, support a program like this because this. Is something that must, be as you can imagine very well, structure, it very well planned and there, must be a there. Must be. A. Guide. Or or a mentor, or a sponsor. For this kind of processes, so, the the second generation. They. Have to. Organize. A. Committee. From, the Family Council that. Will lead and will, will. Approve. That will design. And they, will have to do test everything. That was to be done as a real school oh this. Is a very. Important project the. Most important project the Family Council but, you you need to have the Family Council and, all of the five members of the Family Council was, to agree they, have to share the same dream that this is something that is going to work and for. Having a Family, Council, you shall have more. Members, of the company that. They are running that you'll be working to so wherever. You need you need a real structure, to, support this kind of. Projects. And. I. Guess. What. We're seeing again at the moment is a test, of those, structures. And. Interviewed. Dennis, Jaffe a few weeks ago about, the sort of resilience, in a hundred year Oh businesses. Yeah, I hear that that's. Worth every good work yeah and thinking. He, effectively. Said. The same that the strong governance, structure, whatever. That is whatever, works for that particular family something that is present, in resilient, firms and resilient, businesses that that lasts over, that. Time frame sized is obviously being echoed in your own work as. Well yeah. But but nothing of this would work if it if you don't have about family council that belief in these. Once. You have a program like this for the next generation, do you have to believe, that you. Have to believe in critical, thinking, because. All of the conversations, are going to be held, in those. Classrooms, and where they're going to be there because they are going to make, questions and they. Need to ask because, it's the only way to understand. The history is when you start asking so. This, it must be a collaborative. Spirit among generations and. This trust base, it's. The only way to do that so. There. Must to be an access. To. Information. Transparency. You. Have to be confident. That you are going to do it very well but.

The. Next generation, have. To there. Is a special special, gift. That they have. Always. Which, is compassion, because. The, way that you approach to the history and asking. Question probably. Will lead to difficult. Answers. So. The. Confidentiality. Among, generations is and it's, very important, and the. Way that they understand, that they are working with a very, delicate. But, at the same time very strong. Information. Will, that will lead to to create this, kind of stuff we are working with so. Wherever. You will need to. To. Turn. On the flame will. Eventually, lead you to where you want to go you. Cannot think in innovation. In a family business if you don't have this one if you don't have the depth ability. And this peak to. Understand, what's going on right now but. You do, you know where your roots are. You. Have those root so. Whatever. In the proneural spirit. Initiative. Innovation. You want to do you need to know where, you come from yeah. Oh here. Oh yeah, and, now you said earlier with, regards, to the family history. It. Might say that you know there's a starting, point here in an end point here and if you draw a straight line in between those and it looks like it's been a smooth ride but by understanding the, history, you, can get to have those conversations about, times, whether the family experienced, troubles, before and and. Take that, faith that irrespective. The fact that there might be challenging. Times ahead as a, family, we have got through this before. And, as, a business we've got through this before because. Life. Isn't a straight line is it it's, a roller coaster at the best of times and with throw stuff like current. Situation, into the mix as well and it makes, it even more interesting. But. If you have this perception of you. Know company, established. This year and we're currently this year and therefore it's 86. Years old you lose, the fact that so much has happened within that 86, year history that. You can learn, from that you can take example. From and in. The the, family stories, that you get, the next. Generation to present, back is. That kind of a warts-and-all story. Do they do they pick out the highlights today look at some of the you. Know previous conflicts, between I, don't know mom, and dad or other, other family, members who have had. Tough. Times as well. Well. That's. A very good well it will, depend send in it. Always depends on the methodology, that you, try, to work with the family when you when you recreate, this history, what. We try, to do is to recreate, the, ancestral. Ritual, of gathering. Around the fire and. Tell. Stories yeah, that's basically all we do and we start yes we start okay where do we start and usually. We go back two, or three generations we, try to find out where the founder, of all, the founders of the of the business start but, even back where. Do they start how, do we, understand. What, was. The journey of this. Person. That. Start. From nothing and now. He. Is the responsible. Of the legacy, that we have and this. Is the journey of the hero, which. Is certain seed that we have. Discovered. With the family that you can apply the. Same. Methodology. Of telling. Histories of the ancient, members. Of the of the every. Tribe are. The same methodology. That you can apply to a family. Business so. When. You when, you start. Telling the story of an ordinary, person, that. Went through a magical. World and, came back, with. A price, this. Is the history of the of the hero. Recreating. The family and. He's. Always the. Hero is always part of may. Your cloth were are already. Characters, and other. Other. Other pressure, to have held him to. Create this this. Overcome. Of the challenges, that he will face. Then they, start to sing okay maybe I am I am part of the history because everything. Has. A sense for me now that I I see the order of the history the way is told and now, I can find. My place in the history and now. I can find my identity. Connected. With this collective. Identity, and this. Is the way that we recreate that but this is the process that you have to work. With the family you know in order to make teamwork. To make coherent. There. The. Mindset, of the, collectiveness. Fantastic. And, the. Family that you gave us the example obviously they sought you out, to. Help with that, process. If. There's, families that are listening now who are thinking, this it resonates, with with, us where would you suggest that. They start is there a you. Mentioned about the Family Council and the fact that it needs to be driven from a place of sort.

Of Structure, and governance but. Where. Should a family start if they're looking at this. For. The first time well. First. Of all they, we. Need leaders in the group that. Truly. Believe in what. They want to do there. You. Need, to to. Have. Member. Really committed. With. The with. The creation and, the continuity of the history, most. Of the family family. Happy, the. Way. That we can, see. If we, have the same, feeling. In the rest of the members of the family. Is. To be told in diagnosis. If, we, found. That. The family have the minimum. Requirements, to. Commit. In a process. Like this, because. Of their level of communication because. Of their, level. Of mutual. Affection and. The. Faith in everything, that they. Can, overcome so. We will have the minimum ingredients, to recreate that so where do they are. We can start asking, every, member what they want to do once. We have this individual. Information we, can recreate a collective, common basis to. Work with that shared, dream, and. Once we define, that shared dream we can recreate, what's, the, journey that, they've been going through the, years and see. How this journey that, come, from the past is in the present, connect with the future, share. Dreams and. Then, you can create. A new path to the future and how, the next generations, get involved. In this will. Come with this. Program. To. Help them to understand, how do they connect with this history and. Then you will happy then it's. Just. A matter of working hard. And. Taking the timeless. Necessary, to do it properly as well I think that that's an important, element to it I think, with a lot of other things there can be a quick fix for stuff. So. You can, you. Know if you're going to a lawyer, for an agreement then it's once. You've got the details of that agreement down in places as long as it takes to draft it and then and then sign it whereas stuff. Like this where it's. Creating. Momentum over time takes a long time to, achieve. It's. Not something that can just be done overnight. No. It has is I mean, it has please, it has his time. Usually. You can work in a companion. Of agreement, in I would say four, or five months maybe. But. It. Will depend from what's, the word you have been doing, before it. Was depends of what are the beliefs, of the family, and if. The family, doesn't believe in an agreement it doesn't work oh. The. Way to define, what, they. Truly believe or they of the members of these. Myths that they are creating together. It's. Something that you can also work with and, this. Is where you define the shared dream where you define the. Family. History and it. Can take you I don't know four. Or five six months to, understand. This. Mythology. Of the family in, order to create the basis, to have the agreement so. Yes it will take them you cannot force. To. Do it. So. Quickly. You. Need you. Need a lot to flow so. That's basically the. You. Cannot real of that's, no, there the song phase. And. Benefits. Of doing that and doing it well are are there to say that that's the the upside of this is it yes it takes work but the. Benefits, of doing it are are. There to see yeah. Well the first one if I can tell you that the next generation, really, Chang's. Doing, this because. Now, they know what, the, previous generation, is expecting. From them, usually. When they join the system of the family business they have no idea what, they are expecting, from their where's my place where what, can i what can i collaborate.

With What, can i do now, that you have some, more. Coherent. Ideas to, their agreements, or to the plan or the program, they. Know the answer and they, really, want to be. Part of this because, now they know where they belong but that's the first one the, second one is that you, create them they're. Excellent. Forums, to. Help the, generations. Talk, together and have, these hard, conversations in. An orderly way that. K they they have, the opportunity, to listen to each other and. Recreate. What. They want, to do, base. On their own the ideas that they can hear from one side to the other and the. Third one I will say that always. Depending. On that on the level of commitment of their, family it, will benefit. All of, what, everything. That is around the family business all the society, all the all, their communities. They. Benefit, of of, having a family business that have a real, plan of knowing. Where they want to go and what they. They're the role in the system they belong to so, you will have the only philanthropy. Initiative, all their help to the communities, everything. That that, really benefits, to the rest of the environment yeah. Absolutely. You know some sort of brilliant me and. For. Audience who want to find out a little bit more about you, and your work where can they make, make it that well. They kind of reach us at our. Website, it's. Accelerating. Online. E.x, a you di. We. We, are very pleased to if you want to follow us also in their in the social, media will find three, there in link. Being Facebook everywhere. Just. A and I will put links. In the show notes for people, to. Do. It and if you are watching it on YouTube, it will be in the comment section, underneath. The video you can click on the link from there to find, out more but for. Now thank, you very much, for your time, it's, been a fantastic. Conversation. And, take. Care and we'll speak to you soon okay Rob. Thank you very much for an invitation again, no I take care.

2020-07-24 14:29

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