Are you the next-generation leader ready to take the reins of your family business, only to find the current generation won't let go? Then this episode is for you! Andrea and Michelle tackle the number one challenge facing family businesses: navigating the transition of power.
Discover the unspoken fears and habits that hold the current generation back, from losing their identity to doubting the next generation's readiness. Learn the frustration of Gen 2, who feel disrespected, un-trusted, and stuck in a holding pattern. We reveal the ripple effect on employees, the chaos of "damage control" when Gen 1 swoops back in, and why open, structured conversations are vital.
This episode provides actionable strategies, including establishing clear decision-making authority and fostering a "consultant" mindset for Gen 1, ensuring a smoother, more respectful transition for your family's legacy.
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