The Future is for the Bold
The ambiguity is killing me
If you’re like me, you like neat endings, sharp corners, clean lines, and clear finishes. Last week the business world was hunkered down. All was quiet as we waited for the results of the election. We didn’t get the unambiguous finish we wanted and so, like soldiers coming out of our foxholes after the firefight, we peered through the smoke and noise to try to see the future.
My magic 8-ball says...
The future is for the bold! Our November 12 conference featured global futurist, Anders Sörman-Nilsson. Just as the first Renaissance followed the black plague, Anders forecasts that a second Renaissance will follow COVID, ushering in fundamental and beneficial changes economically, socially, culturally, and environmentally. Weaving in the story of his own family business that failed to adapt to a rapidly changing world and customer, he vividly described the perils that a family business experiences when their desire to keep what is best about their business and their fear of the unfamiliar is weighed against rapid market changes, innovative technologies, and the adaptations required to remain a growing family business.
Meet your FBC board
When a Next Gen makes their own way in life and business there is often a great story of resiliency, leadership, and compassion that drives them to honor their past while they forge their own identity in business. Meet FBC board member Lou Pagano II, family member of the founders of one of the larger candy companies in the US—the former Ferrara Pan Candy. After Ferrara Pan was sold, Lou continued with the new entity until he could pursue his dream of starting his own candy company. In 2018 he launched the 1908 Candy Company/Sherwood Brands (Alexander the Grape) to make available the legacy brands that harken back to a simpler time. His success has been driven by his love of the industry, love for his family, and a desire to honor the legacy of his family business. Lou, a 2008 graduate of the Next Generation Leadership Institute, has been a loyal friend and resource to his fellow FBC members and a generous and energetic board member for the FBC.
Building a purposeful and meaningful next chapter
For every Next Gen challenged by leadership styles and their role in their family business, there is a Now Gen—a powerful, vital, and talented CEO or President—grappling with their future and trying to imagine what comes next. We are delighted to announce the launch of the The Legacy Institute designed to help Now Gens explore what comes after their role as CEO/President and how to begin the third chapter of their family business life. Our inaugural class will begin January 12-13, 2021. Learn more here or call me at 312-915-7738 to discuss.
It's been hard but you make it all worthwhile
Until the dust settles there is plenty of work to do—and not just at work. We will celebrate Thanksgiving this year with more restrictions than most of us have seen in our lifetime, but we can still practice generosity of spirit towards our family members and our communities, express gratitude for employees and customers, and show thanks for all we have. Some family businesses, especially in the retail, entertainment, and hospitality industries are really suffering. If you can, order local, use the smaller business vendor, think about your total supply chain and how you might help your suppliers out when you can. The world of family businesses is valuable and powerful. I know you are already using your powers for good and for that I am thankful.
Don't be a stranger
I miss everybody. Give me a call if you want to chat. Andrew and I are just waiting by our phones; maybe there’s something we can do to help you! Since I won't write again until after the holiday, Happy Thanksgiving to you all. Please stay healthy and safe.
