succession

Is The Family Business Right For You?

Joining the family business is a little different than going to a typical job interview. You may have been told from a young age that this is your destiny. Or you may have been told the opposite: that you will have to start small and prove yourself. Either way, there is an idea that because the business is “family” that you may be a part of it at some point. But do you want to?

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Succession Connection

The moment we hear that business leaders and executives are working on (not just talking about) succession planning and building talent depth charts, we are ecstatic! Because the truth is, many talk about it, but don’t put any action behind the words. Sometime in the future, we’ll hear, “Yeah, we were talking about creating a succession plan for that role. We just never got around to it.”

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Lessons from Dad, CEO

Lesson Two:  We’re all in this together…believe in one another!

Every family has unique dynamics and each member carves out a role that just seems to fit his/her strengths. Among the many roles, there is usually the role of “person in charge,” the role of “peace keeper,” the role of “challenger,” and the role of “planner/organizer.”  And in some cases, multiple people want the same role; which can cause conflict within the family. To add to that, the role in the family may not match the position they hold within the company.

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Lessons from Dad, CEO

Lesson One: Every family member earns their position. No free rides.

Parents are parents forever. That’s a given. As parents we want to give our children every opportunity to be successful. Why not? We have nurtured them, guided them, and taught them in hopes that one day they will grow up and be successful and contribute to society. We have also protected them. We don’t want any harm to come of them. No hurt feelings, no life setbacks.

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