FAMILY BUSINESS Strategies for Engaging the Next Generation * Develop family meetings for ownership preparation. * Model behavior of attendance and involvement. * Let younger members develop a part of the agenda. * Be flexible with parts of the meeting where the younger members may be excused. * Encourage community involvement in the name of the company to promote pride in ownership and responsibility to the community involved. * Spend time telling stories of ownership pride and responsibility. Conclusion If teens and young adults can develop a healthy attitude of opportunity in the family business, many of the other preparation steps fall into place. When introducing employment and ownership, including the teens in the operations of the business builds knowledge of the company and pride in involvement. Family meeting attendance and engagement help develop a commitment to being an effective owner. Preparing the next generation takes time and energy, but the rewards are immeasurable - both for the family and the enterprise. 1. Preparing Successors for Leadership book by Craig E. Aronoff and John Ward, Palgrave MacMillan, 2011. 2. Competence, Justice and Conflict dissertation by Debra Holschuh-Houden, University of Wisconsin, 2008. Houden is a consultant with The Family Business Consulting Group Inc. She may be reached at 608-695-2502 or houden@thefbcg.com. Reprinted with permission. ©2016 The Family Business Consulting Group Inc., www.efamilybusiness.com. All rights reserved. Compoundings October 2016 * 49 * Vol. 66 No. 10http://www.efamilybusiness.com http://www.forsythe.on.ca