Here’s how to pass the baton in a family business.
Family-owned businesses often struggle to pass leadership from one generation to the next. When you spend a lot of time with someone, you see that person’s character flaws. The problem is this knowledge makes it difficult to pass the baton. It’s often problematic for the older generation to trust their successors. Here’s the reality: a life event such as illness, death, or scandal could force your family business to appoint a successor with little or no forewarning. Make a plan before that happens—if you don’t, it could be challenging for your company to move forward.Do you want to learn how to engage leadership transition with grace, honor, and an open heart?Click the link to watch today’s video!