Into the Light of New Leadership: Family Business Leadership and Building a Path for Succession

"Change is the essence of succession. The challenge for the family business successor is answering two questions: What needs to change in order for our family and business to survive and grow, and what do we need to hold onto that is the foundation of our culture and our success. These questions are the source of the natural tension between the generations in the succession process. The reason that this is such a challenge for a family business successor is that when you are born into a family business, you are born into a story that is already being told. You are born into the shadow of your parents and grandparents. The challenge then becomes the expectation that you will live up to the successes of your forbearers, which can feel like a daunting task."