The success plan of my Family business is not clear. There is no written or verbal agreement between the partners in regards with the passing down of the reins. The 4 partners who own equal share of the equity fail to address the elephant in the room as none of the partners want to reduce their share but also don’t have a clear vision to take the business forward responsibly.
My guess is that nepotism will play a huge role in the succession and the process will be largely informal and disorganised. My father being the managing director I have a clear opportunity to start taking over the responsibilities from him which will ensure the continuity of my father’s share but the same is true for the other partners as well who hold key positions except for Gambhir uncle who is inactive in the day to day operations.