SME family company - son (28) has been appointed MD designate to take over full control in 2 years. Parents will retire but expect X level of income from the business to fund retirement.
Has business degree but no other experience of working with other companies.
Has worked with current management team for over 5 years on the same level. They suspect he is there for who he is, and not necessarily ability.
He wants help to be able to grow into the MD role.
Vivien Davies
3 Responses
Coach!
Get him a business coach. I recommend Gary Saunders, who’s been involved with management teams for many years, or Fiona Eldridge, also listed on this site.
Use Business Link
Contact your local Business Link http://www.businesslink.gov.uk and discuss the support they can provide.
Family businesses is one of the key areas they are currently concentrating on.
Suggestion
I strongly recommend that he attends some of the Institute Of Director courses (www.iod.com)- he might consider their Chartered Director course. As a Director (and trainer/coach/facilitator) of a family company myself I know that the opportunity to mix with like-minded people is invaluable!