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Scott Works Outside The Company For A Season

Updated: May 28


Scott works in his family's highly successful business as a youth and throughout college. He looks forward to assuming a significant role as a fifth-generation leader in the company when he graduates.

But before he receives his degree, his uncle has a sit-down with him that floors him. "We want you in the family business, but you will have to work outside the company for three years. During that time, we expect you to pursue and perfect a set of skills that the company needs."

Scott is shattered. But his family is practicing wise succession planning for their highly successful family business. Scott's family has enjoyed the benefits of succession planning for generations. This high value placed on succession planning allows them to enjoy living at a level of significance that few find.

Scott receives his degree and works outside the business in sales and marketing. He is extremely successful. After three years, he is invited into a leadership role in the family business.. Scott's season of outside employment pays enormous dividends for the family business and establishes his position.His business skills allow them to leapfrog over years of struggle and become even more successful. Everybody wins.

Family businesses are notorious for underpaying or overpaying family members as they come into the business. Scott and other fifth-generation leaders are expected to learn for three years outside the company to develop valuable skills that the business needs. This season of outside employment establishes their value in the marketplace and gives them confidence and respect in the company.

Fourth generation leaders enjoy time off for hunting , fishing, and travel. This leaves ample opportunity for the next generation of leaders to develop their leadership skills. The regular absence of senior leadership gives the next generation of leadership ample opportunity to develop their leadership skills.

Their absence is intentional. And awe-inspiring! This emphasis on succession planning early allows for a lot of flexibility and planning. New generations of leadership are encouraged to accept the transition baton early.

For Scott's family, the value of continuing to make a profit, bless its community and advance its purpose for generations is significant. Each generation of leadership starts making plans with the next, years ahead of the actual transition.

Scott's leading role in his family's business began with a conversation with his uncle.

Are you having conversations with the next generation of leaders at your business? To help facilitate vital conversations about succession planning at your business, I have created an asset for you. It is free, my gift to you. Get 14 Questions To Fuel Succession Planning today.

Harry T. Jones

P.S. Use my free asset, 14 Questions To Fuel Succession Planning, today and get the succession planning ball rolling! CLICK HERE TO DOWNLOAD.

P.S.S. Email me at harryt@cultivatingimpact.biz and let me know how the conversations are going. I want to help!

*Like all my stories, Scott's story is real; names and some particulars are changed to protect the individuals involved.

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