In a private company someone has to lead and someone has to manage

A leader of a family business must be able to take the family, the staff and all stakeholder toward a vision of the future with out getting side tracked by to many distractions and unrelated ventures.

 I have come of  across plenty of examples where an eldest sibling has assumed that they are automatically entitled to lead the family business when the current family head retires or dies. When that person has not been on a planned succession journey and/or learning path or, does not have the necessary leadership qualities, the family business tends to begin a downward slide in performance.

On the other hand I have been involved with families in business where the issue of who will lead the business in the future has been discussed and agreed well in advance and there are no surprises when a change in leadership is required for what ever reason.

There is no room in a family business when there is a culture of the 'Golden Child' when it comes to leadership succession.

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