SCHEDULE AN APPOINTMENT

What is the most important strength of Family Business leaders?

There are many opinions about the top strengths of family business leaders.

One of my recent projects answers that question.

We (Kent Rhodes, Ed.D) and I recently developed and validated a 360 assessment process for next generation family business leaders. See www.AssessNextGen.com for details. We determined the top 50 items.

Our recent research found that the number 1, top strength, or Career Catalyst for family business leaders is Item 13: “Keeps confidences about family business wealth.”

Hmmm. On a scales of 1-10 how well does your family business keep confidences about family wealth? Here are some quick thoughts about how to apply this finding to your family enterprise or family business consulting.

For more details contact Doug Gray, Ph.D. at Gray@theFBCG.com or Kent Rhodes (Ed.D.) at Rhodes@theFBCG.com

Here is the transcript for your reference and sharing:

Video posted on Monday 1/16/23.

Link: https://www.linkedin.com/feed/update/urn:li:activity:7020809894287015936/

Title:  What is the most important strength for Family Business leaders?

Description on YouTube post:  A quick research update from www.AssessNextGen.com.
We can now answer that ancient question, “What is the most important strength of Family Business leaders?”  Here are some tips for your family enterprise or consulting.

Transcript of video:

Sometimes people wonder, “what are the top competencies that family business leaders need?”  And I’m happy to report some early results from the Assess Next Gen Family Business Leadership 360 assessment. This data is from 163 responses in the last few months.  Here is the top score, in other words, the Career Catalyst, the behavior that is number one. I’ll give it to you and then I’m going to ask you to reflect on it.

The top score, the thing that our raters said others ought to do, is item number 13: “Keep confidences about the family business wealth.”  To repeat,  the most important strength of Family Business leaders is to “keep confidences about family business wealth.”  What does that mean for you and your family or your enterprise?

I recently asked that question of a friend of mine, John Broons, who’s in Australia, who is pretty brilliant.  And he said, “family wealth needs to be part of the conversation.  It’s too often not discussed.” 

I agree.  We need to prepare for risks, like a transition or a succession or continuity or another line of business.  And too often family members don’t have any idea of what’s next.  There’s the core business. Perhaps there might be other lines of business, but family wealth conversations should definitely stay within the family.

Many of my clients have a charter or clause which states, “This is what we will say, and to whom.”   They may have a conversation with the wealth advisor and estate attorney, and they may not have that conversation with somebody like me, a business consultant.  The family members are the only ones who have access to that information. This is to protect them from journalists or politicians or inappropriate people seeking to learn something about that wealth. And often this confidentiality clause is written in an agreement. So we’re really talking about the two first words here…

Keep confidences.  The most important strength of Family Business leaders is to keep confidences.

How do we keep confidences?  I think we need to reinforce some useful guidelines.  My clients require  trust guidelines. Let me give you a quick example. One of my clients has eight G4 children on this side and four children on this other side. Potential conflicts, right?  So they made an agreement in writing, and verbally reinforced it in every one of their meetings, about what could be shared with Doug as the family business consultant working with that G4 generation. My focus is on leadership development. Part of my job is to reinforce for them what’s confidential and what they need to keep confidential.

It’s a bit like driving a car when you’re driving down an unfamiliar road.  You’ve got the white lines on the right side, the yellow lines on the left side.  Like a good driver, we need to keep confidences. We don’t want to go to the edge of those lines.  We don’t want to go off the center of the road. We certainly don’t want to go in the dirt or the gravel on the side.

So, my invitation is to keep confidences about family business wealth.  Keep that conversation sacred. There you go. Tip of the moment.

For more details on the Assess Next Gen Leadership 360 process, see www.AssessNextGen.com

Or schedule me at contact us

Recent Podcasts

How to Assess Next Gen Leaders; Creating Competitive Advantages for Advisors and Family Enterprises

In this episode: Rod Zeeb & Doug Gray, Co-Founder of Assess Next Gen and a Consultant with The Family Business Consulting Group, discuss trends in both qualitative and quantitative assessments that are available, information for access to the assessments, and collaborators to help you if you need it.

https://www.theheritageinstitute.com/podcasts

How Can Virtual Learning Help Your Team?

YES- You CAN Gain Competitive Advantages for Your Team or Business with our AD-FIT™ virtual learning
Hello friends,
If you aren’t growing, you’re dying.

But, it’s not that you don’t want to improve… you are just busy!

With thousands of tasks (not to mention people) vying for your attention, it’s difficult to step out of the daily grind to further your training, learn new skills, and become even better at what you do.

Our convenient virtual training may be your answer. Now you can have the power you need right at your fingertips. Decide which program fits your needs. Check out all our online courses
On-Demand Training is Convenient
Whether you need to manage people, reduce costs, make new sales, or change behaviors, we’ve got you covered.

Our trademarked AD-FIT™ coaching protocol has brought results for 20+ years. And with our self-directed courses, you have this powerful training at your fingertips and hour of the day. 

It’s time to move your organization forward. Let’s talk!
Improve Performance At Your Own Pace
VIEW ALL OUR ONLINE COURSES
Our courses are designed for managers and leaders who coach direct reports, external coaches, or consultants. Get the expert advice you need at your finger tips. 
AD-FIT™ Coaching for ManagersThis introductory course is designed for managers tasked with reducing waste or costs, or with increasing desired retention or employee engagement. Maximize the productivity of others by using the AD-FIT™ model. REGISTER FOR FREE
AD-FIT™ Certification Course: Level 1.

The costs of staff turnover are staggering. The real reason you are constantly looking for new talent is not that you’re hiring wrong.

The problem is that you need to train and coach your talent better. This course will teach you how. LEARN MORE
OKR Leadership Training CourseLearn how using OKR (Objectives and Key Results) Leadership can transform your organization by aligning everyone on a common outcome. Whether you run an F100 organization or a small business, it’s time to put OKR’s to work for you. REGISTER FOR FREE
Download your FREE Chapter of the book and unlock the”SECRET SAUCE”
If a team isn’t growing, it’s dying. You owe it to your team and your career to lead more effectively.

Unlock your team’s potential with the secret sauce that has driven success at Google, Intel, and most of Silicon Valley.

Download a Free Chapter or Schedule a Training Session
What do other’s say about working with Doug?
“Doug is astute in the behavior dynamics and management styles of senior executive leadership. He is incredibly trustworthy and shares his wisdom freely. He has a knack for providing the right tool and approach to create a successful leadership culture and even more importantly assists individual leaders to rise to their potential.” Stefani Benefield, VP Innovation, Humana

“I have worked with Doug over the last 5 years, with 3 different companies. He has helped me personally in my career development as well as organizational change strategy and initiatives within my organization. I highly recommend Doug Gray to any organization or executive wanting to effectively manage people challenges.” Eric KeesVP of HR, Husqvara, Carolina Handling,
Let’s chat today! We’d like to learn about you and your team.

Good Leaders Hire Guides…




“In my experience as CEO, I found that the most important decisions tested my courage far more than my intelligence. Every time you make the hard, correct decision you become a bit more courageous, and every time you make the easy,  wrong decision you become a bit more cowardly.” ~ Ben Horowitz, American businessman, investor, blogger, and author.

Hello friends,

As a leader, you are faced with difficult decisions every day and the larger the organization gets, the more decisions there are to be made. Should you spend money during challenging times or hold on to as much cash as you can? Do you focus on serving current customers or attracting new customers? Is it time to invest in financials or in relationships?

In order to run a successful organization, you need to be focused on the future – 6 weeks from now, 6 months from now, and 6 years from now. 

Imagine not having to face those difficult decisions alone.

Organizational Leadership Consultant, Doug Gray, has worked with hundreds of leaders of small businesses, F500 companies, and nonprofit and government organizations. Leaders that have faced the same challenges you are facing in your own organization

Doug addresses the 7 Key Growth Drivers of all successful businesses:
You, Strategic Team ,Employees Customers, Investors & Creditors, Cash, Growth 

Then, he’ll make recommendations for what steps you can take today, and over time, to steer your organization in the direction you want. Once those actions have been taken, he’ll reassess and provide you with the next steps.

Want to learn more? Contact Doug today to get started on your success.  CONTACT DOUG GRAY

Why is it leader’s are not encouraged to practice Leadership? Listen to what Doug has to say… MOVE YOUR ORGANIZATION FORWARD

Schedule a Free Consultation!

Objectives + Key Results (OKR) Leadership

How do you keep track of what’s important when you watch sports? Well, you use a scoreboard. Or a timer. Or a finish line. You use numbers to measure what matters. Then you boast about your favorite scores. In short, you know who wins because you know who had the better numbers. This book is written for readers and leaders with the same kind of focus — you need to know what to measure so that you can win. BUY YOUR COPY TODAY!

Values and Behavior-Based Coaching 101

One of my clients asked how to summarize the events of a new board meeting. He was an observer, there were 6 active board members, and his company invested in the board so that he could represent their business interests. He asked, “How do I track each leader?”

We discussed the template below.

Often when I meet a new coaching client I use this template to help them identify those they work with, and the behaviors required for their success. Some people can assess others quickly. Others require a structure to list what to say/do. No one ever wants to “stick their foot in their mouth.”

You can adopt this template to coaching your team, when taking notes, or when practicing leadership. Try it.

I’ve used it for decades with hundreds of leaders.

Here is the gist:

The result is a dated snapshot of my summary, that validates the other people’s values, reminds me of what to say/do, and indicates possible next steps.

  1. List the team/ board members in rows so that you keep them organized.  Add any other key team members/ board observers.  Add contact info/ affiliations. List no more than 5-7 leaders so that you can stay focused on them.
  2. Column 1 is “Values”.  Ask yourself what each person values, list 4-6 values based on what they say/do. If you need a list of values go to www.VIACharacter.org, or take the PIAV (Personal Interests, Attitudes and Values) assessment with me.
  3. Column 2 is “What should I say/do”.  If someone values their ego/ own voice, then you can publicly validate them when you agree. If they want to be addressed formally, then be sure to do so consistently.
  4. Column 3 is “What should I NOT say/do.” If someone requires time to verbally process new ideas, then please do NOT interrupt them. If they are conflict avoidant, then do not confront them publicly for non-critical issues…
  5. Column 4 is “Next steps.”  I use this column to note people/ articles/ resources that the leader may appreciate.  These notes provide a simple structure for me to follow up, if useful.

I encourage you to adopt this template and PRACTICE leadership. Today. What are you waiting for?

Then contact me and share your success story or questions.

All your best, Doug