Small Business Association for International Companies’ Post

Let me share this inspiring & insightful paper: “Making Family Businesses Great in Perpetuity,” by Claudio Fernández-Aráoz, Carrie Green, Sonny Iqbal, and Gregory Leo Nagel. #Familybusinesses are infamous for nepotism and infighting, especially when it’s time to #appoint a new #CEO. But when global talent adviser Claudio Fernández-Aráoz and colleagues set out to help #familyfirms improve their #leadershiptransitions, they were surprised to find that #largefamilybusinesses had much better #successionpractices than their nonfamily counterparts, and they outperformed on several measures after new appointees took the reins. ➡️Four practices could help other types of businesses ensure successful #CEOtransitions: #approachsuccession proactively rather than in reaction to short-term performance issues, bring on a few #longtermdirectors and #empower them to #lead the #process, don’t #obsess about #formalprocedures but #doubledown on rigor, and #empower #newleaders from #dayone. #CEO #Familybusinesses #Leadershiptransitions #Successionpractices #CEOtransitions #Empowernewleaders #Successionplanning 👉https://lnkd.in/e6NJ5H23

𝗙𝗮𝗺𝗶𝗹𝘆 𝗳𝗶𝗿𝗺𝘀, 𝗰𝗼𝗻𝘁𝗿𝗮𝗿𝘆 𝘁𝗼 𝗰𝗼𝗺𝗺𝗼𝗻 𝗽𝗲𝗿𝗰𝗲𝗽𝘁𝗶𝗼𝗻, 𝗼𝘂𝘁𝘀𝗵𝗶𝗻𝗲 𝗻𝗼𝗻-𝗳𝗮𝗺𝗶𝗹𝘆 𝗰𝗼𝘂𝗻𝘁𝗲𝗿𝗽𝗮𝗿𝘁𝘀 𝗶𝗻 𝗖𝗘𝗢 𝘀𝘂𝗰𝗰𝗲𝘀𝘀𝗶𝗼𝗻 🔎 In contrast to the common belief associating family-run businesses with favoritism and subpar procedures, as highlighted in the recent Harvard Business Review publication "Lessons from Large Family Firms About Choosing a CEO" these entities excel in CEO succession compared to the largest non-family firms within similar industries. 🔎 My colleagues Claudio Fernández-Aráoz and Sonny Iqbal collaborated with Carrie Green, M.A., CFA (she/her) and Gregory Nagel for this groundbreaking study. 💡 Their analysis encompassed over 3,000 CEO successions spanning 26 years. As a key insight they discovered that large family businesses adopt a significantly more strategic and proactive approach to CEO succession. 💡 This method results in heightened post-succession performance, reduced risk, and a more frequent initiation of substantial value-enhancing investments immediately following the succession. Article link in comment. #succession #familybusiness #leadership #ceo

"Most Admired Business Visionaries Leading the Way in 2023" Featuring Karen Simon on the cover https://lnkd.in/dP-Zt4Ut #success #mosticonicleaders #businessleaders #Businessleaders #leaderscreateleaders #leadershiptips #leadershipmindset #impressivepersonalities

Yesterday evening was all about NextGen Leadership at UnternehmerTUM ALPHAZIRKEL - THE FAMILY ENTREPRENEUR NETWORK. Here are my takeaways from my discussion around succession planning: 🤔 𝐓𝐨 𝐛𝐞 𝐨𝐫 𝐧𝐨𝐭 𝐭𝐨 𝐛𝐞… …part of the next gen family business leadership. The first of many questions starts with self-reflection. What drives you? What do you want out of life? What kind of leader do you want to be? What are you passionate about? And could you forego passion for responsibility? What risks are you willing to take? These are just some of the questions that will influence your decision. And remember: you can always say “no”! 😳 𝐃𝐨𝐧’𝐭 𝐛𝐞 𝐥𝐢𝐤𝐞 𝐭𝐡𝐞 𝐑𝐨𝐲 𝐟𝐚𝐦𝐢𝐥𝐲 With no real succession plan in place, the patriarch Logan Roy in HBO’s “Succession” consistently plays his children against each other, as they vie for their father’s love and approval, and a place at the top table. It is perhaps an extreme example of how succession can go wrong for a family business. But when everyone is only focused on what is best for themselves not the greater good, confusion about the future direction of the business is created. Instead start conversations about shared values. Determine what your vision for the business in the future could be and what role you want to play in 𝒕𝒉𝒂𝒕 future. 😃 𝐖𝐚𝐤𝐞 𝐮𝐩 𝐒𝐥𝐞𝐞𝐩𝐢𝐧𝐠 𝐁𝐞𝐚𝐮𝐭𝐲 (𝐨𝐫 𝐫𝐞𝐚𝐩𝐢𝐧𝐠 𝐭𝐡𝐞 𝐛𝐞𝐧𝐞𝐟𝐢𝐭𝐬 𝐨𝐟 𝐝𝐢𝐯𝐞𝐫𝐬𝐢𝐭𝐲) We all know that diverse, modern leadership attracts top talent and makes companies robust, increasing innovation and better decision-making. With around half of all German family businesses experiencing a generational change in the next three years, let’s use this opportunity to appoint more women to leadership positions, pushing the current 12.6% way up! Thanks to my panel Beatrice Rodenstock Stefanie Guerra Ferdinand Hirmer And everyone who participated for their insights! #nextgen #leadership #leadershipdevelopment #innovation #diversity #vision #familybusiness #familienunternehmen Photo credit Max von Eicken

🌟 Honored to be named one of the Top 50 Small Business Leaders of 2023! 🌟 I am thrilled to share that Ella Worsley and I, the co-founders of The Enlighten Co, have been recognised as leaders in the small business community in this year's Top 50 Small Business Leader Awards. It's an incredible privilege to be acknowledged for our work in providing an intentional, supportive, and transformative environment where people can heal, grow, and create a new reality for themselves. At The Enlighten Co, our mission has always been to empower humanity to break free from limitations and become physically, emotionally, and psychologically limitless. We achieve this through our diverse offerings, including transformational retreats, online programs, free downloadable resources, monthly connection events, and our podcast. Our in-person events provide safe spaces for women to be themselves, to be accepted, seen, and loved for who they are. We are passionate about helping individuals dealing with a wide range of issues, from PTSD and depression to addiction and family conflict. This year has brought its share of challenges, with rising interest rates, inflation, and increased living costs affecting many. However, we believe in adapting to meet the needs of our community. We recently launched the online Worthy Woman program and the Wildly Worthy podcast, both of which have been met with overwhelming support and positive feedback. Our online following has grown by 30%, and our email list has seen a 25% increase. Sustainability is a core value for us, and we're proud to host our six-day Reconnect women's healing experience on an eco farm. We also prioritize recycling, support local farmers, and minimize plastic usage at our events. We couldn't have achieved this recognition without the support of our fantastic community and team. Thank you all for your unwavering support and belief in our mission. To learn more about the Top 50 Small Business Leaders of 2023, check out the full report here: https://lnkd.in/gcRTeecX Nick Foster Alita Harvey-Rodriguez #SmallBusinessLeaders #TheEnlightenCo #SmallBusiness #Leadership #Recognition #Sustainability #TransformativeJourney

The CEO’s Playbook: Winning Strategies for the First 180 Days

In the face of unprecedented change and disruption, CEOs need to leverage every source of support to drive their growth agenda. One important, genuine partner may be hiding in plain sight: the board of directors. In this new series, Celia Huber, David Honigmann, Nina Spielmann, and Eric Sherman discuss the importance and examine the best practices of CEO-board communication. https://mck.co/3JALXgL #growth #CEO #boardengagement

With summer coming to an end, business leaders start preparing for a new season to come. They develop the direction that will steer their business growth. However, while much is made of the dizzy heights of success that can be scaled with entrepreneurial flair, little is said about the many obstacles that arise and challenge your conviction that you have what it takes. How do you plan for highs and lows in your growth? Read more about it on our blog: https://lnkd.in/e5VeJkqH #Femalefounders #Growthdevelopment #Businesscoaching #Businessgrowth #Wyseminds #Businessplan 

Become a thought leadership😅 Ask about how my 33 years of award-winning service can help YOU and YOUR business succeed. To learn more: https://lnkd.in/eUeucw7 #publicrelations, #digitalmarketingagency, #marketingstrategy #businessgrowthstrategies #investorrelations