Supervision Classics - Help Heirs Prepare - Family Business

Author: Barbara Specter (USA) / Country: Mainland China
Publisher:
Publish Date: 2006-05-01
Features: Employees are not the only ones who need supervision. You also need to train the relatives of board members, foundation members, or shareholder relationship managers you plan to appoint—those who are completely clueless about their current roles and have no idea what to do next. Do they have any other strategies to cope with this? A few days ago, I happened to meet my friend Harry and asked him what was new.
"I want my daughter to join our company," he said, "but she's a full-time mom and wants a 9-to-5 job. What about managing the company's charitable fund?"
"My brother-in-law, in his 30s, is practicing law," Bob, another business owner I know, said. "If we appoint him to the board, he'll understand a lot. What do you think?"
"Some of the younger generation don’t speak properly," my clients Dan and Helen said. "They don’t understand our current situation. One minute, they complain that our loyal customers’ documents are a mess, and the next, they say our tax forms are submitted too late. But the accounts have to be done this way. New accounts must be settled first."
Part-time relatives in the company can play a positive role, just like board members, foundation members, or shareholder members. But as described above, they often become indifferent to regular activities and lack consistent supervision on how to do things. To be honest, if you were to advertise this position in the newspaper, it might read something like this:
"This position requires dealing with employees who are ambiguous in their relationships with the family, with no clear hierarchy in the company. Limited power, unclear prospects, and the risk of being a scapegoat if things go wrong. Benefits include gaining a deeper understanding of the company and its management model, the opportunity to accomplish things, the chance to learn useful knowledge, making new friends, and a 50% chance of advancing in the family business, sometimes with compensation."
Although handling these matters isn’t strictly management, the conflicts involved are no less than those in full-time roles. If these tasks are done satisfactorily, the head of the household and the company leader must train the next generation, as if this position truly existed. Preparations can be initiated by the younger generation proactively learning some necessary knowledge, while the rest of the groundwork requires the help of consultants. The company must pay for the potential costs involved. Regardless of the responsibilities they may take on, the following advice tells young people how to prepare effectively.
1. Listen. Active listening is a skill that needs improvement. Many books and tapes cover this topic. Practical experience and feedback collection are essential, and getting involved is the best way to practice. Also, make others approach you: "Do you think I listen to people in a way that could be improved?" It’s like when a wife asks her husband, "Do you think I’ve gained weight?"
2. Speak. If you’re not good at speaking or are shy and introverted, you can join some business-oriented training programs. My two favorite organizations are Toastmasters and Dale Carnegie courses, both highly popular. Participants receive excellent guidance, practice together, and see noticeable results, making them more skilled and confident.
3. Write. If you’re about to write a recent fundraising analysis memo, an overall plan for family meetings, or a speech on next year’s budget, it’s best to write clearly, logically, and engagingly. Don’t fabricate or say empty things. Once you become a leader, no one can tolerate your disorganized emails. Take a business writing class, and your writing will become more distinctive. Find someone with strong writing skills in the company to review your drafts.
4. Ask Questions. Most people who start in charity, management, or shareholder relations quickly realize that these fields are full of people who know much more than they do. Relax—there’s nothing to fear. If you can ask