The Succession Journey:  Taking Our Own Advice

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Reflecting on a Year of Succession and Growth

As we approach the one-year milestone since Kyler, our Gen 2, joined BCR full-time, time seems to have flown by at warp speed. It’s natural to pause and reflect: What have we accomplished in this whirlwind of almost a year? It’s a tough question, but an essential one in the succession process. Accountability, after all, is key for everyone involved.

Upon reflection, I can’t help but scrutinize my own contribution. Am I providing enough support for the process? Am I showing respect to all parties involved? These are the questions that keep me up at night.

Here’s an honest evaluation of where we stand and where we’re headed:

Engaging a family business consultant has been our saving grace. Their guidance has been invaluable, steering us through the labyrinth of succession and keeping us all on track.

Kyler’s First Year: Challenges and Achievements

Kyler dove headfirst into the deep end upon joining the company. Juggling client services, business development, an MBA program, and attempting to maintain a personal life—it’s been a balancing act. We’ve made strides in achieving a reasonable work-life equilibrium, ensuring Kyler can manage all his responsibilities satisfactorily.

Personally, I’m still grappling with my tendency to adopt a “whatever it takes” attitude towards work—a habit I need to address for my own well-being and for Kyler’s sake.

Together, we’ve collaborated effectively in shaping the company’s growth strategy for the future. Kyler’s fresh perspective has encouraged us to embrace change, and I’m increasingly optimistic about the transformations ahead.

Involving our daughter, Kyler’s twin sister, in the process has been invaluable. Her commitment to joining our family business board adds another layer of strength and unity.

Next Steps: Enhancing Accountability and Communication

Yet, there’s still much ground to cover:

We need to establish accountability measures within the company to ensure a smooth transition.

Strengthening family dynamics and communication will be crucial in this journey.

Refining our family and BCR’s vision is an ongoing process.

We’re actively defining the skills Kyler needs to develop and outlining a plan to help him achieve those goals.

It’s a daunting task, but also undeniably exhilarating. As we navigate this transition, we must also reimagine our own roles within BCR and in our personal relationship. Succession isn’t just about reinventing the company—it’s about reinventing ourselves.

In the midst of it all, I find solace in laughter, knowing it’s often the only thing preventing me from pulling my hair out. And of course, eternal gratitude to our consultant for keeping us sane throughout this rollercoaster ride!

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Other Succession articles: here

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