Family Business Resource: Leaving a Legacy
I have written previously about my experiences as a leader of a family business. As further discussion of this topic, I wanted to share a quick review of a resource that I have come to find very valuable: Leaving a Legacy, Navigating Family Business Succession by David C Bentall.
I was first introduced to David C Bentall when he was the keynote speaker at a family business conference where I had the pleasure of participating in a panel discussion. After hearing him speak about his experiences as a member of a family business that experienced great success, then experienced failure from the family’s perspective, I was eager to listen to the audio version of his book, which was given to all conference attendees. In the book Bentall shares the story of the business, its evolutions, successes and failures along with his personal journey through the business. He then draws many lessons from these experiences, sharing them very openly and honestly along with advice to avoid making some of the same mistakes and create a healthy, thriving family business. As a member of the family and leader of the family business, now in its third generation, I identified very closely with many of these experiences and lessons. I found this so useful and fascinating that I ordered additional copies of the book to share with our directors and managers. I believe that other key leaders in the organization, not just the family members will gain insight from this work. They also play a critical role in creating a healthy, thriving business inside this unique framework of family business. Thus, I highly recommend this as a resource for family members leading businesses as well as the key players.