Family business leaders need to set a use-by date. However, many are not prepared to let go.

Over recent years I have rarely seen a family business leader who had the insight to set a timeline on their operational leadership position. Equally, many insist that they chair the family business board or advisory panel when engaging a non-family would be of better value to the business and the family members.

Again, all the research and real life experience evidence highlights the benefit of older family leaders steeping aside and mentoring/nurturing the next generation into leadership roles.

This is an emotional decision that, for many, is in the too hard basket.

Leave a comment

comments powered by Disqus