Leaving a Family Business Legacy: 5 Signs You're Doing it Wrong

In this episode, we’re continuing to dive into the specific challenges of leading a business where one or more family members are involved. Today we’re looking at the dangers of getting stuck in a cycle of "I know best" leadership, which can stifle creativity, innovation, and growth in your family members. Learn the five negative consequences you might face by leading for validation, and discover the three key moments that signal a healthy succession plan is in place. 

 

We’re diving into the following key topics:

• Leaders who prioritize validation over impact stifle creativity, innovation, and growth in their team members, especially family members.
• Family businesses can get stuck in a cycle of "I know best" leadership, which undermines morale and leads to disengagement.
• Secure leaders who are confident in their abilities create an environment where team members can learn, experiment, and take ownership.
• A healthy succession plan involves a vision transfer, public adoption of new systems implemented by the next generation, and the handover of key relationships.