The Roadmap to Success: Strategies for Building Strong & Sustainable Family Businesses

Are you a family business owner looking to build a resilient leadership team?Today, we have the pleasure of speaking with Doug Gray, a seasoned consultant with the Family Business Consulting Group. With over 25 years of experience in leadership development, Doug shares his insights into what it takes to build strong and resilient leaders within family businesses. This episode provides valuable insights into family businesses built on effective communication, distributed ownership models, and tips on how to assess NextGen leaders effectively. Tune in now!Doug Gray is a father, husband, consultant, author, and former adventure racer who can still skate backward. He is a consultant with The Family Business Consulting Group where he specializes in leadership development, succession planning, and building family unity in enterprising families.[00:01 - 08:36] Opening Segment• Doug shares his expertise in leadership development, succession planning, and building family unityWhat the Family Business Consulting Group does• Working with affluent families and found boarding schools to be transformative for students• Doug's background in positive psychology and coaching protocols[08:37 - 16:59] The Premier Family Business Consulting Group• Why The FBCG focus is on leadership development, specifically working with NextGen leadersA vetting process to match the best consultant for the engagement• How the definition of NextGen has changed over timeThe trend towards more involvement from younger generations in the family[17:00 - 25:01] Revolutionizing Family Business Leadership with Innovative Assessment Techniques• Family businesses struggle with migrating to digital platforms and are concerned about security risks• What's causing older generations to worry about their successors' capacity• The trend towards innovation and the Assess NextGen 360 leadership assessmentBusiness, ownership, individual capacity, and learning[25:02 - 33:11] Navigating Family Dynamics in Business Ownership• Feedback is important but must be confidential and ethical• How active engagement from leadership leads to a successful implementation of feedback• Dos and don'ts for distributed ownership• The importance of effective communication and teamwork in family businesses[33:12 - 37:49] Closing Segment• How using "I statements" and sharing personal experiences can be powerful tools in communication• Why involving in-laws in family business decisions can be important• Consultants can play a role in supporting the team approach to the family systemWant to connect with Doug? Head to The Family Business Consulting Group, and explore what’s best for your family and business! Key Quotes:“When we're all tossed into a less familiar environment, we can grow and learn.” - Doug Gray“The top two problems that every family has is communication and conflict.” - Doug GrayDownload our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/Connect with me on LinkedIn!LIKE, SUBSCRIBE, AND LEAVE US A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in, and Stay Tuned for the Next Episode COMING SOON! Hosted on Acast. See acast.com/privacy for more information.