A smooth transition from one family business leader to the next is a momentous accomplishment. But it’s not a guarantee of future harmony.
During major crises, the retired leader might insert themselves back into the business. They think their expertise will save the business. And they try to take back power from the successor. Conflict arises. Decision-making grounds to a halt. Employees don’t know who to take orders from.
All businesses hit rough patches, but knowing when a former family business leader should step back in to help isn’t an easy call to make. You must determine their level of engagement. It also demands balancing their experience and wisdom with the successor’s need for autonomy. It’s a messy situation to navigate. But there are steps you can take to ensure the lines of authority are respected.
Uncover the first step in “When to Return to Leading Your Family Business During a Crisis.”
Read about when a former family business leader should return here.
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