Arete Coach 1189 Severin Sorensen "Family-Owned Business Leadership Transitions Revisited"
- S1E1189
- 52:10
- August 12th 2024
In this episode of the Arete Coach Podcast, host Severin Sorensen explores the critical topic of leadership transitions in family-owned businesses—an issue that’s more relevant than ever with approximately 40% of these businesses in the U.S. planning to transition leadership within the next five years. Drawing from recent research and real-world case studies, Severin discusses the importance of strategic succession planning, the challenges of preserving family legacy, and the growing trend of involving non-family executives in key leadership roles.
Severin also walks listeners through a detailed executive search process he led for a family-owned business seeking a new CEO. This episode is a must-listen for family business owners, next-generation leaders, and coaches, offering actionable insights and strategies to ensure the longevity and success of these vital economic contributors. Tune in to learn how to navigate the complexities of leadership transitions in family enterprises and prepare your business for a prosperous future.
In this episode, we’ll dive deep into these challenges and opportunities, exploring why succession planning is vital for family-owned businesses and how the right approach can ensure their survival and growth across generations. We'll discuss the importance of integrating non-family executives into leadership roles, a growing trend among outperforming family businesses, with 95% of them involving non-family executives in key decision-making processes.
We’ll also dissect a real-world case study, where I had the opportunity to guide a family-owned business through a critical leadership transition. This case will shed light on the complexities involved in identifying and selecting a new CEO who not only understands the business's unique culture but also has the skills to drive future success.
Whether you’re a family business owner, a next-generation leader, or a coach helping navigate these transitions, this episode is packed with actionable insights and strategies. So sit back, take notes, and get ready to learn how to manage family-owned business leadership transitions effectively, ensuring that these vital economic contributors continue to thrive for generations to come.
The Arete Coach Podcast seeks to explore the art and science of executive coaching. You can find out more about this podcast at aretecoach.io.
This episode was recorded on August 12, 2024, with portions pre-recorded on March 4, 2021.
Copyright © 2021 by Arete Coach™ LLC. All rights reserved.
Arete Coach: Exploring the Art and Science of Executive Coaching
“Arete Coach Podcast" Explores the "Art and Science" of Executive Coaching hosted by Severin Sorensen. The “Arete Coach Podcast" is for executive coaches and anyone considering becoming an executive coach. The podcast is especially valuable to executive coaches who are lifetime learners with deep curiosity about the "art and science" of coaching. In this podcast, the ‘art of coaching’ is explored through engaging interviews with leading executive coaches from diverse backgrounds sharing their individual coaching journeys, learnings, methods, best questions, and situational approaches to executive coaching. Beyond best practices, the podcast will regularly mine research on the ‘science of coaching’ and explores ongoing scientific discoveries and studies looking for what works and why, with an aim to improve the core body of knowledge for executive coaches and the industry. Severin Sorensen has provided over 7,500 hours of paid executive coaching sessions and he holds the following coaching certifications: ICF/ACSTH Certified Executive Coach (CEC), Certified Organizational Development Coach (CODC), Certified Life Coach (CLC); and the IAC: Coach Masteries Practioner. Severin Sorensen has an M.Phil in Economics at King's College, Cambridge University, and undergraduate degrees in Economics and Political Science from the University of Utah.
The Arete Coach Podcast is the copyright of Arete Coach LLC.
Severin Sorensen is host of the Arete Coach Podcast, where he interviews executive coaches and researchers with the aims to celebrate and explore the art and science of executive coaching today.
Severin is a senior executive coach, serial entrepreneur and lifetime learner with a passionate curiosity about people and businesses. Severin is the CEO of ePraxis LLC, a premier level retained search firm that provides executive headhunting, talent selection, and executive coaching. (www.epraxis.com)
Severin is a certified coach with an IAC Masteries Practitioner designation and 800+ hours of ICF/ACSTH and other advanced training in Executive Coaching, Organizational Development, EOS, Life Coaching, Emotional Intelligence (EQ), and Positive Intelligence (PQ). Severin has over 7,500+ hours of paid executive coaching working with high performing executives, owners, and operators of public and private companies throughout North America.Severin's coaching clients include boards of directors, CEOs, Presidents, GMs, COO, CFO, CTO, VP Engineering, VP Talent, and many other positions.
Severin lives in Park City , Utah and his virtual coach practice includes clients throughout the Americas.
From 2010-2018 Severin was a Vistage Chair where he coached three CEO and Key executive groups. In 2011, Severin received the "Rookie of the Year Chair Award" from Vistage. Since 2013, Severin has added international speaking for Vistage, CEO conferences, executive peer groups, and corporations on the topic of identifying and hiring difference making top talent.
In terms of the types of clients coached, Severin has coached new CEOs (with less than 2 years experience), large company executives (e.g., Managing Director of Rio Tinto), numerous high-growth entrepreneurs operating INC 5000 businesses, multi-generational family owned businesses, and primary-equity business owners who are still actively managing their companies. Severin has experience coaching both private and public company executives and their executive teams.
Severin's own coaching practice is tool based, using diagnostics, surveys, and Socratic questioning to get to root issues. You can learn more about Severin at epraxis.com (insights), LinkedIn, Quora, and Twitter. If you think you might be a good fit for executive coaching with Severin, he is happy to give you a free test drive coaching session to see if this would be good for you and your team. You can book a free test-drive 30 min coaching huddle at: calendly.com/epraxis.