Sometimes it’s the unwelcome phone call. It might be the dreaded, creeping inevitable. Sometimes it’s the “at long last, thank goodness” moment. It doesn’t matter how it arrives, taking over a family business can be a daunting experience. How ever you come by the business, you’ll inherit a legacy of “how we do things around here”. For you to chart a course forward, there are crucial steps to ensure a seamless transition.
You’ll want to foster innovation and growth, but you might also have to confront anger, grief, and guilt. And that might not all be from you. You’re new to the team and you could be met with suspicion, contempt, and bemused hostility. It’s never going to be easy, even in the most congenial and welcoming environments. Continue reading “Taking Over a Family Business – Navigating the Transition”