The Family Business Mentoring Handbook

Mentoring Handbook

Who do you envision leading your family business 25 years from now? Your son? Daughter? Niece or nephew? An in-law? Perhaps a non-family employee? The most critical challenge facing your family business is smart succession planning. That's why it's important that you have the foresight to intelligently prepare the next generation for the leadership reins of your family's company.

From discovering the principles of mentoring to preparing for succession, The Family Business Mentoring Handbook offers valuable insights and ideas on being an effective mentor-as well as advice to the next generation on being successful protégés.

As the family business leader, it's imperative that you begin laying the groundwork for seamless succession planning. Do you know that the Family Firm Institute estimates that fewer than a third of all U.S. family businesses survive into the second generation? All too often it's because of bad planning. The most respected family business specialists as well as successful family business owners offer their succession methods and mentoring techniques in this comprehensive, real-life guide.

"Through this book, you have access to the greatest minds in the family business arena."

—Richard C. Snebold, Jr., Co-founder, The Family Business Center at Citizens National Bank

1. Principles of mentoring
• What is mentoring? -James W. Lea
• Creating a mentoring system -Ivan Lansberg
• The complexities of family business mentoring -James W. Lea
• Misconceptions about mentoring -Kathy E. Kram
• The benefits are mutual -Michael G. Zey
• Mentoring and autonomy: A report from Finland -Minna Tunkkari
• Family profile: Eric Monsen's mentoring team -Stephen J. Simurda

2. Effective mentoring
• Fostering young adults' career explorations -Katherine Grady
• Eight essential mentoring skills -Mark N. Voeller
• Maximize the potential for mentoring success -James E. Barrett
• Mentoring misfires -James Olan Hutcheson
• The right ways to delegate -George Rimler

3. Parental mentoring
• When a parent is the mentor -Ivan Lansberg
• Integrating your child into your company -Dennis T. Jaffe
• Helping fathers mentor their sons -Edward P. Monte
• The joys and challenges of father-daughter mentoring -Anne E. Francis
• Moms as mentors -Florence Kaslow
• Watch your language -Andrea Grace Mackiewicz
• Family profile: The sweet smell of succession -Q&A with Leonard Lauder
• Family profile: The matriarch's lesson -Deanne Stone

4. Mentoring by non-family executives, directors and advisers
• 'Take my job, please' -Edwin T. Crego Jr.
• Mentoring tools for non-family employees -Scott E. Friedman
• Family profile: How the scion was mentored at IBM -Thomas J. Watson Jr. and Peter Petre
• Mentoring by an outside consultant: Q&A with Jack Pycik -Stephen L. McClure
• Family profile: Directors' lessons in human dynamics -George G. Raymond Jr.

5. Raising business-savvy children
• Grooming children for succession -David Bork
• Family profile: Talking business at the dinner table -Marshall B. Paisner
• Your business: A classroom for your children -Cindy Iannarelli
• Preparing daughters to lead the way -Ellen Frankenberg
• Raising money-smart kids in entrepreneurial families -Judy G. Barber
• Helping kids to answer comments about their wealth -David Bork
• Making the most of teenagers -Ellen Frankenberg
• Enjoy the grandkids -don't mentor them -Léon Danco
• Family profile: The best of both worlds -Kathryn Levy Feldman

6. Transmitting values and traditions
• Engineering the entrepreneurial spirit -Ellen Frankenberg
• Weaving a shared dream -Ivan Lansberg
• The role of the family's vision in a mentoring relationship -Glenn R. Ayres
• Family profile: Passing on the dream -Howard Muson
• Family profiles: Guided by the founder's legacy -Jayne A. Pearl
• Mentoring and all that 'Yaz' -Richard L. Narva
• Involving young adults in family philanthropy -Alison D. Goldberg

7. Preparing for the succession
• Teaching protégés to be proactive -Dean R. Fowler
• Young leaders must learn to take intelligent risks -Léon Danco
• Prepare your successors to meet key outsiders -James E. Barrett
• A laboratory for the future team -Stephen L. McClure
• Family profile: Mentored by my managers -Tripp Davis
• The founder in 'the jump seat'- Gerald Le Van

8. In the protégé's shoes
• Do you need a mentor? -Anne E. Francis
• Choosing a mentor -Ralph M. Daniel
• Five questions successors should ask themselves -Katherine Grady
• Some no-nonsense advice for protégés -Loyd H. Rawls
• Family profile: Heirs must learn to face reality -William G. Mennen IV
• Family profiles: Successors' memories of the mentoring process-Jayne A. Pearl
• Family profile: How Gina Gallo acquired a taste for leadership -Dan Rottenberg

9. Special mentoring needs
• Mentoring of siblings and cousins -Ivan Lansberg
• A family business revolution: Siblings as mentors -Marjory J. Levitt and Joel D. Levitt
• How old dogs learn new tricks: Mentors for the senior generation -Paul I. Karofsky
• Preparing next-generation members for non-managerial roles -James E. Barrett
• How to mentor non-family employees -Michael Sales
• Mentoring of women: The challenge -Jane Sullivan
• Mentoring relatives with dyslexia or ADD -James E. Barrett
• Managing the return of the prodigal child -James E. Barrett

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