Bottom-Line Behavior

For a successful business succession, don't sleep on mentorship

The generational divide in a family business shouldn't be an obstacle to strong, and consistent, communication.

By Denise Federer
| 2:14 p.m. June 13, 2025

Advice

Grooming the next generation of leaders is an integral part of a family business, or any other closely held business. A significant portion of the “IP” of the business resides in the current leadership’s brain. Transferring that knowledge to the next generation of leaders is crucial — but that’s easier said than done. In my work as a family business consultant, I have witnessed, time and time again, broken mentor-mentee relationships.