Sometimes, the next generation of family members or employees doesn’t feel they can earn credibility with the old guard or senior generation. The following eight tips are gleaned from the next generation who has broken through to earn credibility and respect.
Transitioning a business from one generation to the next is not easy. One difficult area is how to bring the next generation on board. The next generation brings energy and new ideas, while the senior generation brings financial capital and wisdom.
These tips are gleaned from young clients I’ve worked with across the U.S. and Canada. It’s not an all-inclusive list. This is a handful of the better ones I’ve picked up from watching what has worked:
1. Look for opportunities to make things better. It may be something small like organizing the shop area or cleaning. Or “better” could be something new. Often, however, better is an action that improves or maintains something that’s already working.
2. Ask for permission to run with the ball. Then run with it. You have the energy, and the senior generation has the capital. Asking permission before you spend their capital is always a good thing. Once you get the green light, go! If you ask for permission and don’t get it, respect the no.
3. Build relationships with people who matter. For example, while it may be tempting to spend time at conferences with people your own age, get to know the people with white hair. They have connections and are excited to get to know the energetic and smart younger generation.
4. Communicate outside your comfort zone. If you want to be influential, use all types of communication, not just those with which you are most comfortable. Texting (passive communication) is efficient for minor things. But crucial conversations need face-to-face time (active communication).
Get good at talking in front of people. You’ll need to be able to communicate with accountants, attorneys, employees and others.
Spend time improving your written skills, too. It’s easy to lose writing skills by only texting. But a well-written email or proposal will get noticed.
5. Improve people skills. Get comfortable shaking hands and making eye contact. It’s old school, but it still works.
6. Present solutions when you present problems. If something isn’t working — whether equipment, personnel or a process — don’t just bring up the problem, but also possible solutions.
7. Ask good questions. Asking questions shows strength of character, not weakness. You have a different perspective and different experiences. Find smart, successful people and ask questions. Figure out what made them successful and how things work in their business. Most importantly, ask why they do things a certain way. People will be flattered you are interested in what they have done and will share.
8. Own the problem. Leaders of any business are problem-solvers. Take something off their plate by taking ownership of a problem and solving it. Lesser people drop their problems at the feet of the owners and walk away. Do the opposite, and you’ll gain credibility and respect.
Across the U.S. and Canada, a mind-boggling number of businesses are changing hands in ownership and leadership within the next decade. Business is about change, but some aspects of leadership and business are still as valid today as they were 100 years ago — for young and old alike.
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