What got your family here won’t get your family there
Marshall Goldsmith is a renowned Organizational Development scholar and leadership coach. He wrote a book What got you here won’t get you there. In this book, he talks about how exactly the same traits / competencies that made you successful at one point in your career can make you unsuccessful at another point. Egonomics by David Marcum talks about a similar topic: Your strength at one point of time can be your weakness at another point of time.
This generally happens with various families and founders. What made a founder successful in his/her business during growth stages, make him/her unsuccessful or inefficient when the business is mature, handed over to a successor or sold. What made a family achieve success and wealth at one point of time may not help them achieve the same success and wealth at another point of time.
- People Change – At different stages in life different things matter. We cannot deny the natural life cycle and changes that comes with it.Life is change
- Businesses Change – People have their own leadership styles. At different stages, they have different needs and need different systems.
- Families Evolve – It is necessary for families to evolve as their social, economic, political, geographical and technological environment change.
Evolving takes conscious efforts and planning. Often, it does not come naturally. We tend to get stuck with our past success and continue to do the same. It works for a while. By the time we realize the gap, it’s too late. Life always teaches us an important lesson. The evolution and Darwin taught us that it is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is most adaptable to change.
Aster Family Advisors work with founders and families to support them in their evolution. We evaluate founders’ leadership style with their business needs and make alignments. We assess family’s life cycle and try to find solutions for their evolution.