July 12, 2022

Developing the Next Generation of Business Leaders with Laurie Nichols


As the next generation of leaders takes the reins of businesses and organizations, they have to be prepared for the challenges ahead. Though they tend to have different values and priorities than their predecessors, what can they do to become successful leaders in their organizations?

In this episode, Craig talks with Laurie Nichols, Succession Planning and NextGen Development Coach at Laurie Nichols Coaching and Consulting. With more than 30 years of experience in financial services and as a Certified Professional Coach, Laurie helps owners create and communicate their vision to nextgen professionals and motivate their successors to feel confident in their role and the future of the business.

Laurie talks with Craig about what motivates her to practice coaching, how founders can prepare for business and leadership transitions, and what the key components are for developing nextgen advisors.


Key Takeaways

  • [03:11] - What motivates Laurie to practice coaching.
  • [08:09] - What makes people want to reach out to Laurie.
  • [10:39] - Laurie's perspective on nextgen successors taking over the firm.
  • [14:24] - How founders can prepare for business and leadership transitions.
  • [19:08] - The dynamics of adapting old-school business strategies to new technologies.
  • [22:07] - Key components for developing nextgen advisors.
  • [26:34] - How Laurie helps owners and nextgen leaders align their visions.


Quotes

[13:21] - "Communication, engagement, and professional development are what it takes to have a win for the owners, a win for the nextgen successor in the team, and a win for clients." - Laurie Nichols

[23:04] - "No matter what your title is today, you start being the leader. It doesn't mean that you’re the boss, you get final decisions on anything in particular, but it's how you show up." - Laurie Nichols

[23:34] - "Developing your skills in communicating with intention around your needs helps to break the pattern of ‘conflict avoidance’ because candor is not conflict." - Laurie Nichols


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