I recently sat down with Jonathan Goldhill to talk about his new book “Disruptive Successor: a Guide for Driving Growth in your Family Business." The book focuses on guiding Millennial and Gen Y leaders to build great teams filled with humble, hungry, intelligent, and talented people. Jonathan also helps advise aging boomers and Gen X business owners to find freedom through succession and successful exits. He talks about the importance of the successor being humble enough to learn the business and not just feel entitled to it. If that’s the case, maybe it isn't the right time to transfer ownership.
While it can be difficult, Jonathan stresses that separating family dynamics from business dynamics is possible if you can get people into the right seat doing the right things. It is also essential to assess the family business to understand the true psychological motivations behind everyone involved. The assessment goes through the start, stop, and keep analysis of the company. What do you need to start doing to scale up your business? What do you need to stop doing? What should you keep doing? This analysis helps gives both the successor and predecessor more confidence that they can run the business.
Jonathan’s passion for advising entrepreneurs and family businesses ignited when his family’s large, privately-held men’s apparel manufacturing company—started by his great-grandfather—sold to a conglomerate and failed to survive into the fourth generation of family ownership. Since then, Jonathan has owned/managed several businesses that that grown into multimillion-dollar companies and were featured on lists of the fastest-growing companies and best places to work. Want to hear more of his tips? Listen Here: https://bit.ly/3u1xgdd