Passing on a family business is often a painful process. But don’t be too quick to blame the youngesters
This article is about the difficulty of the chief of a family business in passing to sons or daughters the run of the company.
The first problem is to deal with the self-esteem of the elder entrepreneur. Sometimes it is associate to death; the interpreuner felt him/herself worthless without work.
Some tips given in the text to the elder entrepreuner pass the business for the heirs are: Identifing and appreciating their core competencies and sign a "symbolic" contract estipulating that, by a certain age they will move on and let the next genneration take its lumps.
Source: http://www.forbes.com/2009/04/24/family-business-succession-entrepreneurs-management-berglas.html
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I believe retiring process is not so easy for everybody. People could feel worthless and not so vital anymore. I imagine that the process of passing on a family business could be even harder for elder entrepreneurs affecting their self-stem. I agree with the tips given in this text when the author says it is really important to identify and appreciate elder entrepreneur’s competences and also given them the sense of control. These tips could be really effective helping them to pass the torch.
ResponderExcluirOur lifes has steps that we can’t change. On a moment It’s time to stop and. Elder people need to deal more easy than others because the experience. In my option is necessary that the sons and daughter have interest to deal with the corporation and transform into the chairman. And this interest don’t appear just when they need to take a position like retire and death, for example. It is shown on day by day and the parents need to realize. If the descendent don’t like to management the company it’s time to contract a chairman. And this decision needs to be calm to have success.
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