This weekend we conducted what I think was our 4th Family Assembly Meeting in Ixtapan de la Sal. Much of the focus of these events is to build and grow the emotional links and relationships among the grandchildren, while also creating a moment of reflection among parents/uncles and their children/cousins with regards to family and the business. Personally, I came back quite happy with the results, but I can´t help but to reflect on what lies ahead and how to best manage certain challenges we have, as so do most families that share a business as we do.
Family values are obviously a core foundation for any growing family that stays united.......how can we truly live these values in our daily lives? What to do when other´s might not "walk the talk"? This is an arduous path but it requires to be walked through with determination.
Empowering the next generation in the business, shifting control of the organization, and passing ownership are textbook steps in this process, but we require certain basics like......communication, clarity, empathy, tolerance, respect, inclusiveness, and nurturing not only our financial capital, but also our human and intelectual capital...........these are all needed for the family and the business to transcend, for the legacy to successfully live on. Only if we do this accordingly, will we build the much needed trust to carry on.
Are we doing enough for this to happen and move forward successfully..........???
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This was written like a true Devlyn. You are definitely your father's son :). I agree with everything you have just said. My family doesn't have a business but we for sure are seeing changes in our family dynamic as we grow older - shifts in responsibilty and organization. Thank you for your insights.
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