Family business leadership is like driving a car. Driving uphill requires a lower gear, while cruising on the highway demands a higher one. The car changes gears based on the situation it’s in. A family business leader should do the same: respond to unique situations with different traits.
Too often, though, leaders default to their “best” traits. The problem-solver is quick to provide a solution. The empathetic leader offers comfort and support. The coach guides the team through a challenging situation.
Each of these traits on their own are valuable to business leadership. But the best leaders can juggle multiple traits—and then choose the one that is most suited to a particular situation.
There are seven traits all family business leaders should develop. This article walks through each—and it also shows how those traits can be misused.
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