In a family business, who is the puppet, and who holds the strings? My work with a particular Family business led to scenarios and witnessing a war between mother and daughter-in-law, daughter and parents- I helped the family with their family legacy hanging in the balance to navigate from turmoil toward a peaceful resolution; seemingly against all the odds.
– Toxic relationships have an impact on succession
– Guide the next generation if they aren’t up to scratch
– Understand the importance/influence of all players (especially spouses on the periphery)
– make sure the family commits to doing it ‘your way’, to stop matters being made worse
– Manage communication between the family so it doesn’t disrupt/ destroy the plan of action all have signed up to
– Get to the truth, even if it means difficult questions. These will bite you on the bum later – guaranteed. Better out than in.