If key Family Leaders walk out the door, what tacit knowledge and wisdom leaves with them?
This is of concern for the legacy of the family and the business and in many instances those remaining sit idly by and mourn the loss of all the wisdom. In many situations senior Family leaders are not consciously aware of what they do that has made, and makes them successful. The remaining individuals in the business must frequently and intentionally draw out the knowledge and wisdom. Sometimes this can be accomplished by nurturing informal discussions and at other times by creating intentional dialogue. The best way to help the senior family member pass on their wisdom is by getting them to tell a story.
The next generation needs to ask:
Tell me about the time….
Tell me how you started in the business…
What was the most difficult obstacle you faced when…
Give me an example of …
What was your experience with…
What were the times when…
Each of these leading statements, and there are many more, are designed to allow for additional probing and searching to understand the values, culture, philosophy, thought-process, wisdom and knowledge. If at all possible, as many family members as possible should sit in on the intentional dialogue. Comparing notes following the exercise will also help build oneness of the family. You may even want to video / record the time for future generations.
Don’t wait for a crisis, start today, and enjoy getting to know the senior generation of the Business Family in a whole new way as the wisdom and knowledge is gleaned.
What is your story?