The charismatic, know-what-to-do leader of a first generation family business may not be available, or be what’s needed in subsequent generations.

Leadership comes in different styles and strengths. Derek Jeter’s leadership of the NY Yankees differed in style from former Mayor Michael Bloomberg’s leadership of New York City. Both were winners.

The challenge of a first-generation leader is to recognize different leadership styles in the next generation, and what the business as well as the family will need going forward.