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) you¶re preparing to take over the family business, you¶ll want to achieve as seamless a transition as possible. Naturally, you and your staff will e[perience a few growing pains. 0ost changes require some period of adjustment, though you¶ll want to do your best to shield your customers from any interruptions or service glitches.
Here are some basic rules to follow as you step into the role of leadership:
8se the succession plan. 2ne ◗
of the reasons you¶ve gotten to this point is probably due to the diligent preparation of your company¶s succession plan. 'on¶t waste the brain trust that contributed to putting this plan together. It¶s a blueprint that¶s intended to guide you forward with a minimal amount of conflict. %e patient. (ven if you adhere
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◗ to the succession plan, you may still encounter some resistance from the generation letting go. )or some, letting go can occur overnight for others, it¶s a process that can take time. A successful handoff depends not only on a good plan but on goodwill, too. If the old guard is having difficulty with your new role, practice compassion if you can. Ask questions, find out what¶s wrong, and then try to take steps to correct the situation. Imagine yourself handing over your own business. 2n the other hand, establishing some distance between one generation and the ne[t is essential, too. Assess your skills. 6uccession planning and the actual transition are time-consuming. In between all the meetings and the e[tra work you¶ve probably
◗ taken on, you might have overlooked your own education. 6ome company owners require that the ne[t generation obtain advanced degrees like an 0%A to augment the new leaders¶ accounting and financial e[pertise. )ormal business training may make the difference between success and failure.
Take care of company culture. (ven when a successful succession takes place, people worry. :ill the company be the same" :ill the new boss be like his or her predecessor" :hat kinds of changes are coming" As the new leader it¶s your job to create a culture that fosters creativity, cooperation, and overall success. As you ease your employees into the changes that succession brings, don¶t take people¶s good work for granted. /et them know that you appreciate their efforts, especially in light of the changes.