Posts Tagged ‘sucession planning’

Waiting Room Hell – Family Business Succession

One of the most common frustrations in a family business can be the question of succession. When will it happen? How will the decision be made?

For next generation leaders it can be like being stuck in the waiting room from hell. No sign of when something is going to occur and in the meantime, you have this uneasiness that you might be wasting your time or fooling yourself that it is going to ever happen. In my case, at my 90 year old family business, I wasn’t sure either – is going to happen when my uncle is 75 and I am 55? I couldn’t see sitting in the waiting room for another 15 years.

Here’s a short 2 minute video:

I’d encourage those in the waiting room to watch. It includes the important 5 questions you need to ask your leader – the answers may help you decide how long you are willing to wait.

Good luck and keep getting stronger even if you have a long wait!

Coach Pete