At BFF we are passionate about the importance of ownership, which needs to be professionalized just as much as management. We spoke with Wayne Bossert of Royal Bank of Canada for his perspective on how the Next Generation can develop into great owners:
It’s important to recognize that people aren’t born into being great owners. There are skills you have to learn, there is a mindset you have to think through, and you have to invest time and energy.
A really important learning opportunity is to sit with the existing generation who may be managing the business as well as owning it. The rising generation may not share that same interest in management but have a keen interest in ownership.
It doesn’t happen by accident. It happens by investing across the generations, and inside the generations, in order to really develop the mindset and skill set that go along with being a great owner.
It’s always worth remembering that becoming a great owner doesn’t happen by accident!
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