Every ownership phase in my family business, whether it is founder-led or passes to the next generation, presents challenges as well as opportunities. Expectations, roles, and values change with the family, impacting choices and risk tolerance. The company evolves from survival to strategy, necessitating new organizational structures that might conflict with long-standing customs. Ambition, identity, and relationships are all aspects of each member's journey that can either spur innovation or uphold the status quo. Dynamic tensions are produced by these overlapping trajectories: forces that pull back to preserve heritage and forces that push for change to remain relevant. Managing this delicate balance is the key to growth.
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Family Business Labs
"The Successor's Paradox"
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