There’s a pattern that plays out in family business transitions: the rising gen leader keeps deferring, keeps waiting to be told what to do, keeps acting the way they did at 16, right up until the day the business needs them to lead. They’re not ready to lead—and they certainly won’t be successful in a leadership role.
In order for a family business to transition successfully, the rising gen leaders must be prepared to take over. The fix isn’t as simple as a new title. In the end, it’s far more rewarding for a rising successor to be treated like an equal partner rather than a child at the grown-ups’ table.
This article lays out the best practices for navigating this transition, whether you’re a new gen or a long-time executive preparing your role for hand-off.
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