Myths and Mortals: Family Business Leadership and Succession Planning (Wiley Finance)

**Establish credibility as the new family business leader** __Myths & Mortals, Family Business Leadership and Succession Planning__provides insights and strategies for successors of family businesses. Successors often find themselves in the shadow of their parents making it difficult to establish credibility in the family business and tap into their own strengths. The stress of emulating a parent begins to clash with who they are and who they want to be as a leader. Written by internationally known business strategist and succession planning expert Andrew Keyt, this guide shows you how to establish credibility, take your place at the head of the table, and run your business your way. In groundbreaking research, Keyt interviewed more than 25 successors of family business legends including Massimo Ferragamo, Bill Wrigley Jr., Christie Hefner, and John Tyson to find out how they overcame the challenges successors commonly face.The analysis from that study formed the basis for the strategies presented here—to help you win the loyalty of those stuck in the old way of doing business, and still focused on their former leader's vision. You'll learn how to take charge without sacrificing your own leadership style, and how to get everyone on board with __your__ vision for the business. Growing up in the shadow of legendary family business leaders creates a unique challenge for successors to the leadership position. You cannot remove the emotional power of family dynamics from the business, but you can change how you choose to react to it. To be successful, you need to create a sense of identity and credibility, and step out of the shadows of your forbears. This guide provides strategies for doing just that, so you can take the reins and be the effective leader your business needs. * Overcome the obstacles successors commonly face * Win over those still loyal to their former leader * Build your own credibility, separate from your parents * Develop your own leadership style and do business your way Credibility is elemental to business leadership, but establishing that credibility is the successor's biggest challenge. __Myths & Mortals, Family Business Leadership and Succession Planning__ helps you plan around the obstacles and avoid common missteps so you can lead more effectively right out of the gate.

Establish credibility as the new family business leader

Myths & Mortals, Family Business Leadership and Succession Planning provides insights and strategies for successors of family businesses. Successors often find themselves in the shadow of their parents making it difficult to establish credibility in the family business and tap into their own strengths. The stress of emulating a parent begins to clash with who they are and who they want to be as a leader.

Written by internationally known business strategist and succession planning expert Andrew Keyt, this guide shows you how to establish credibility, take your place at the head of the table, and run your business your way. In groundbreaking research, Keyt interviewed more than 25 successors of family business legends including Massimo Ferragamo, Bill Wrigley Jr., Christie Hefner, and John Tyson to find out how they overcame the challenges successors commonly face.The analysis from that study formed the basis for the strategies presented here—to help you win the loyalty of those stuck in the old way of doing business, and still focused on their former leader's vision. You'll learn how to take charge without sacrificing your own leadership style, and how to get everyone on board with your vision for the business.

Growing up in the shadow of legendary family business leaders creates a unique challenge for successors to the leadership position. You cannot remove the emotional power of family dynamics from the business, but you can change how you choose to react to it. To be successful, you need to create a sense of identity and credibility, and step out of the shadows of your forbears. This guide provides strategies for doing just that, so you can take the reins and be the effective leader your business needs.

• Overcome the obstacles successors commonly face
• Win over those still loyal to their former leader
• Build your own credibility, separate from your parents

• Develop your own leadership style and do business your way

Credibility is elemental to business leadership, but establishing that credibility is the successor's biggest challenge. Myths & Mortals, Family Business Leadership and Succession Planning helps you plan around the obstacles and avoid common missteps so you can lead more effectively right out of the gate.

Establish credibility as the new family business leader Myths & Mortals, Family Business Leadership and Succession Planning provides insights and strategies for successors of family businesses. Successors often find themselves in the shadow of their parents making it difficult to establish credibility in the family business and tap into their own strengths. The stress of emulating a parent begins to clash with who they are and who they want to be as a leader. Written by internationally known business strategist and succession planning expert Andrew Keyt, this guide shows you how to establish credibility, take your place at the head of the table, and run your business your way. In groundbreaking research, Keyt interviewed more than 25 successors of family business legends including Massimo Ferragamo, Bill Wrigley Jr., Christie Hefner, and John Tyson to find out how they overcame the challenges successors commonly face.The analysis from that study formed the basis for the strategies presented here—to help you win the loyalty of those stuck in the old way of doing business, and still focused on their former leader's vision. You'll learn how to take charge without sacrificing your own leadership style, and how to get everyone on board with your vision for the business. Growing up in the shadow of legendary family business leaders creates a unique challenge for successors to the leadership position. You cannot remove the emotional power of family dynamics from the business, but you can change how you choose to react to it. To be successful, you need to create a sense of identity and credibility, and step out of the shadows of your forbears. This guide provides strategies for doing just that, so you can take the reins and be the effective leader your business needs. Overcome the obstacles successors commonly face Win over those still loyal to their former leader Build your own credibility, separate from your parents Develop your own leadership style and do business your way Credibility is elemental to business leadership, but establishing that credibility is the successor's biggest challenge. Myths & Mortals, Family Business Leadership and Succession Planning helps you plan around the obstacles and avoid common missteps so you can lead more effectively right out of the gate. "Credibility-it's elemental to business leadership. You can't lead without it. For successors in family businesses, establishing credibility can be their greatest challenge. Growing up in the shadows of their predecessors' successes makes it difficult for successors in family businesses to establish themselves and use their gifts to lead. To lead storied family businesses, successors build credibility the hard way - just like their parents did: they earn it. However, they may face the more formidable challenge of winning over those loyal to another leader and another way of doing business. They also live with the pressure of leading something that has already been successful. In ground-breaking research, Andrew Keyt interviewed more than 25 successors of family business legends, including Massimo Ferragamo (Salvatore Ferragamo), John Burke (Trek), Bill Wrigley Jr. (The Wrigley Companies), Christie Hefner (Playboy Enterprises), John Tyson (Tyson Foods) and Dick Devos (Amway). The insights and analysis from the study form the basis for the key insights on how successors overcome the obstacles to credibility and build on what the legends created"-- Provided by publisher When Successors Chart Their Own CourseWhen Idealization Interferes; Shining the Light Inward; Asserting the Self in the Family Legacy; Chapter 3 You Gotta Earn It: Earning your way to the top; Your Own Way; Be Honest with Yourself; I Go Blind; How Parents Can Help; Building Belief in Others; Building Resiliency; Show Up for Work; Chapter 4 The Strength of Failure: Running the obstacle course of success; Developing Gut Instincts: Learning through Action; The Hard Road to Leadership; No Mistakes; Just Learning; Supporting Failure; Obstacle Courses; The Family Launching Pad: Go Out and Get It Cover; Title Page; Copyright; Contents; Preface; Acknowledgments; Prologue: Born in the Shadows: Grappling with the humanity of the hero; Born in the Shadows; Definition of the Myth; A Journey to Generative Leadership; I Am Not My Father (Differentiation); It Takes a Personal Vision; Moving the Past into the Future; Chapter 1 Making of a Myth: How stories of heroism help and harm a successor; The Power of the Myth; The Good Story; The Bad Story; Understanding the Reality of the Myth; Origins of the Myth; Feeding the Myth; If It Makes You Happy; Keeping the Next Generation in the Shadows Chapter 7 Feed the Family: Caring for relationships, caring for the businessDare to Be Different; Heart and Soul; Family Assets; How Competition Can Cripple; From the Founder to the Family; Next Generation; Chapter 8 Me versus We: Sharing the glory of the family business story; The ""I'' in the ""We''; From Legendary to Ordinary; When the Magnetic Center Is Gone; Feels Like Family; More than Money; Dream Weaver; The Brick Wall; Re-Generation; Chapter 9 Decisions, Decisions: Decisiveness amidst ambiguity; The Great Differentiator; Cutting the Gordian Knot; One Decision after Another Idealization of the ChildParentification of the Child; Infantalization of the Successor; Idealization's Alter-Ego; Reality and True Truth; Chapter 2 Out of the Shadows: The journey of the successor to lead apart from the myth; Differentiation and the Life Cycle; Attending (0 to 18 months); Power (18 to 36 Months); Responsibility and Conscience (36 months to 5 years); Competency and Latency (5 or 6 to 11 years); Separation and Adolescence (12 to 23 years); Early Adulthood (20s and 30s); Overcoming the Successor's Curse; From Hero to Human: Deconstructing the Myth of the Founder The Shape of SuccessChapter 5 ""I Can See Clearly Now'': The origins of a fresh vision for the family business; A Story for the Future: Mission, Vision, and Values; Respect the Past; Do What's Right for the Future; The Rudder of Conviction; Working through Personal Values; Family Planning; Mission; Back to the Future; Chapter 6 Nonstop Learning: Know your weakness and improve; Sustaining Credibility; Respectfully Pushing the Limits; Defining Success: Future Forward; Know Thy Motives; The Necessity of Continual Development; Disciple of the Disciplines; Staying Power Prologue: Born in the shadows Making of a myth Out of the shadows You gotta earn it The strength of failure "I can see clearly now" Nonstop learning Feed the family Me versus we Decisions decisions The inner light Epilogue: Stepping out of the shadows and into the light of your leadership.