With the external world quickly evolving, when technology is rapidly changing, markets and information moving at a faster pace, how does a family enterprise ensure its business model is on track to keep up with these changes but is also positioned for sustainable growth? Looking outside the trusted circle of family experts and advisors for fresh perspective and creative advice can often be enlightening and meaningful but a daunting task.
What questions should family stakeholders ask themselves as they think through the challenges of what their business will need as they shift their mindset from being reactive to proactive to meet their changing environment? Where and at what point, does the silo approach of advice-getting and giving get pulled together to direct a cohesive family strategic plan?
Sometimes one of the bigger tasks in assisting a family is not only creating or facilitating plotting out a road map for the future but helping to figure out the appropriate ways in which the family might deal with multiple advisors in achieving that roadmap. It can be a big task to lead the advisors in a team approach that is coordinated, cooperative, and collaborative and assists the family enterprise to manage the tension that ambiguity and complexity produce.
The modern day and future enterprising family needs a modern day approach from its advisors that is less expert driven, more multidisciplinary and executes collaborative, cooperative and teamwork behavior – enter the Chief Collaboration Officer.
Some tips for becoming a successful CCO:
- Park your ego at the door. Creative solutions require that no one person owns the process. Great ideas come from putting great minds together.
- Invest in creating something new by contributing to a shared goal rather than purely supporting your singular goal. Self-interest is never attractive and it is a sure way of derailing the creative process.
- Be a student of the other advisor’s expertise and motivation. Without understanding the outcome each advisor wants, there will be no way to come to a balanced perspective.
- Take on the mindset of a true collaborator. Today’s family enterprise needs many layers of talented people to assist in navigating a rapidly changing world.
- As parents, top executives and the older next generation, think of yourself as a role model. Often the best learning comes from experience and observation of how others navigate relationships and problem solving.
For more insight and family case study you may access the full article here: Chief Collaboration Officer