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Myths and Mortals: A NextGen Conference Recap

10.01.15. Chicago, IL. Loyola University FBC NxGen leaders & excellence workshop @ the Four Seasons - and celebration of the 25th FBC anniversary. Photo by Glenn Kaupert, © 2015.

As a successor, there are plenty of other things you have to worry about. One of the biggest is the successor’s curse-where failures are often magnified in comparison to the predecessors, and their successes aren’t seen as their own. At our NxG Leaders and Excellence Conference, our very own Andrew Keyt spoke about the successor curse, a topic covered in his new book, Myths and Mortals: Family Business Leadership and Succession Planning, and how to get over it.

The first step is to get out of your parent’s shadows, the second is to overcome the successors curse.

How to step out of the shadows

  • Don’t try to manage everything like your parents did. You don’t have to run the business like they did.
  • Don’t get stuck. Processes that worked for your parents’ generation might not be applicable to your generation.
  • Respect the past and always make sure you are doing what is right for the future.
  • Don’t make decisions to please your parents.
  • Develop self-awareness. Stand separate, grow up, and be your own person.
  • Be in the presence of emotion without letting it drive your decisions.

How to get over the successor’s curse

  • Improve what has been given to you.
  • Figure out your own strengths.
  • Accept your vulnerabilities and weaknesses.mythsandmortals

 

Remember, you don’t have to try to be a carbon copy of your parents.

Build a vision based off of your own strengths.

 

Want to learn more about these topics? You can check out Andrew’s book, Myths and Mortals.

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