The EntreLeadership Podcast My Dad Refuses to Talk About Succession
Feb 3, 2025
A son struggles to discuss succession planning with his father, revealing the emotional complexities of family business transitions. Leaders face challenges in role changes and seasonal staffing, with insights on maintaining morale and resource management. The conversation highlights the delicate balance of growth and quality, alongside the importance of leadership preparedness. Tune in to discover strategies for effective communication and operational efficiency, all while navigating the often turbulent waters of business management.
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Succession Planning Advice
- Communicate succession plans clearly and gradually with your father.
- Address the discrepancies between being called a "partner" while being treated as an employee.
Keys to Successful Succession
- Successful succession plans involve gradual implementation and open communication.
- Founders often struggle with letting go, making the first-generation handoff emotionally challenging.
Managing Growth
- Don't grow your business faster than your "supply lines" can handle.
- Identify your key limiting factors (people, cash, bay usage) and address them before expanding.