Seven Tips For Creating Win-Wins For Family Owners and Non-Family Executives
As family owned companies grow and prosper from one generation to another, it is not uncommon for them to bring in non-family executives to round out the expertise of family members. When family businesses survive well into the third and fourth generations, there are generally more non-family executives than there are family executives involved in the company. Consequently, there are hundreds of thousands of non-family executives working in family businesses across the country. While the role of this executive is one of the most critical roles in growing family enterprises, it is often considered one of the most confusing and complex. It has been my good fortune to learn what non-family executives want, directly from the nearly 100 of these business executives that I've coached, interviewed, and surveyed over the past decade. Additionally, I have personally served as a non-family executive, and have reported directly to four different non-family chief executive officers. I have al...