Myths & Mortals: Family Business Leadership and Succession Planning
Myths & Mortals 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.
Andrew Keyt is an internationally known business strategist and succession planning expert for family owned businesses.
As the president and founder of Keyt Consulting, Keyt specializes in assisting family enterprises with next generation leadership development, dealing with family conflict and communication, working with adult sibling/cousin teams, and executing emergency management transitions. Having been a member of his own family partnership, and having served as manager in two family-owned firms, Keyt has firsthand experience with family business challenges.
Further, Keyt is the executive director of the Loyola University Chicago Family Business Center, a leading think tank in issues unique to business-owning families. He is also the president of the United States Chapter of the Family Business Network, the leading network for business-owning families worldwide.