By using the founder's own playbook for stretch goals. Kris Kluver, in The Dysfunctional Family Office, has Gail Mitchell propose tripling the size of Mitchell Industries in two years at the year-anniversary meeting. Robert nearly chokes on his coffee. Then Gail walks him through the plan. Steve has strong expansion ideas. Tricia, the new CFO, has lined up the financing. Once Robert sees the road map, the capital requirements, and the numbers, the goal stops looking terrifying and starts looking achievable. The pattern matters. Founders often plateau without realizing it. The next generation, given real authority and the right team, can return the company to a growth trajectory the founder couldn't access anymore. The reframe Kris Kluver captures is that what gets the founder excited is the next generation thinking bigger, not the next generation thinking safer.
How does the next generation push the family business to a level the founder never imagined?
From: Ch 16: Thriving
Also asked
- next gen 10X family business
- rising gen triples company in two years
- what got dad excited was when I said I want to triple the company