Wednesday, March 17, 2010

Put your children through a formal psychological exam designed to see who wins !!

NYT:
"You have to make an honest assessment of your children," said Robert W. O’Hara, owner of O’Hara & Company, a financial planning firm in Chelmsford, Mass., that specializes in exit planning for entrepreneurs. "Don’t assume the next generation has the same skills."

Succession specialists advise business owners who can afford it to put their possible successors through rigorous outside analysis. Steve Swartz, a family-business consultant based in Minneapolis, has them answer career and management questionnaires and then sit for interviews and testing with industrial psychologists. Each candidate goes over the results with the psychologist to put together a skill-development plan.

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