Tips for taking over the family business

Leadership change is always stressful, but it's multiplied exponentially when it takes place at a family business. Issues of business continuity are certainly at play, but the unique dynamic of maintaining personal relationships is also at the forefront of this difficult transition.

Much has been written about how family business owners can best handle the changing of the guard to the next generation, but it's just as important to focus on the successor's attitude and perspective throughout the process. An “heir apparent” faces challenges that business school education can't totally prepare them for, since they're often dealing with fragile emotions as they seek to lead a smooth transition.

Numerous times as a family business consultant I have witnessed the frustration of a successor with the senior family member whose role he is slated to succeed. More often than not it is related to an owner's unwillingness to make innovative changes. The mantra “that's not how we have done always things here” can be deafening to the next generation who are trying to find a respectful way to get their voice heard.