The Lenten season, with its emphasis on reflection, sacrifice and renewal, offers valuable insights for family business founders and leaders as they navigate the later stages of their entrepreneurial journey.
As they approach the golden years between 60 and beyond, they must strike a delicate balance between preserving their business legacy and prioritizing their own well-being through self-love and personal fulfillment.
Reflection and self-discovery
Much like the Lenten call to introspection, founders should take time to reflect on their personal needs, desires and accomplishments. After decades of dedicated service to their businesses and families, it’s essential for founders to acknowledge their worth beyond their professional achievements. This period of self-discovery allows them to reconnect with their passions, hobbies and aspirations that may have been sidelined during their entrepreneurial pursuits.
Embracing self-love
Self-love is not only essential but also transformative, especially for owners that have dedicated their lives to building their businesses and supporting their families. This includes allowing oneself to enjoy the fruits of their labor without reservation. Whether through travel or leisure activities, leaders must prioritize their own happiness and well-being.
Resist temptation. Pursue legacy and preservation
In the Lenten narrative, temptation often presents itself in the form of distractions or compromises to one’s values. Similarly, owners may encounter temptations such as risky investments or pressures from family members. By staying true to their principles and resisting these temptations, they safeguard both their personal well-being and the integrity of their business legacy.
Letting go of control
A key aspect of the Lenten season is surrendering control and trusting in a higher power. Likewise, founders must learn to relinquish control over the financial futures of their descendants. While it’s natural to worry about their children and grandchildren, founders must trust that they have instilled the values necessary for the next generation’s success. This act of letting go allows founders to embrace the peace and tranquility that come with trusting in the next generation’s abilities.
Sense of introspection and spirituality
As they embark on their journey of self-discovery and spiritual rejuvenation, it’s truly inspiring to witness these leaders fully immersed in the preparations for our upcoming Camino de Santiago pilgrimage, also known as the Way of St. James. For those unfamiliar, it is a network of pilgrimage routes leading to the shrine of the apostle St. James the Great in the Cathedral of Santiago de Compostela in Galicia, northwest Spain. It has been one of the most important Christian pilgrimages for over a thousand years. This year marks my fourth year as a member, and I consider myself extremely fortunate to have been part of this exclusive Camino group. Organized by the esteemed founding leaders, whom I now consider lifelong friends, all based in Cebu, this preeminent group comprises exceptional business leaders and founders.
A pilgrimage of self-discovery
This year’s pilgrimage holds particular significance as we will traverse a unique route through the awe-inspiring mountains of Austria and Southern Germany.
I have yet to encounter a similar exclusive group in the Philippines or anywhere in Asia, where a band of exceptional businessmen leaves everything behind to embark on a 250-kilometer journey of introspection and spirituality. For two weeks, we will set aside the trappings of business and immerse ourselves in the profound experience of walking the path of St. James.
Excitement abounds as we anticipate a transformative experience, blending personal renewal with profound business introspection, promising growth and insight for all who join. For founders of businesses, it will be an immersive experience, a sort of our “alone time” or moments of quiet contemplation, allowing us to reconnect with our inner selves and rediscover the passions and values that drive many of us.
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Join us for The W+B Family Governance Leadership Series: Structure, Culture and Succession, and equip yourself with the tools and strategies to navigate the complexities of family business with clarity and purpose. Don’t let unresolved conflicts hold your business back—seize this opportunity to secure a lasting legacy. Secure your spot now.
Date: May 18 & 22 (Time: 9 a.m. - 12 p.m. Zoom), May 29, 2024 (Time 10 a.m. onwards Onsite Graduation). Price: P9,800 for the three-session pass and P3,800 for a one session pass. For inquiries, please reach out to Christine at wb@wbadvisoryasia.com.