One of the biggest hurdles to overcome in the life of a family business is the reluctance, if not outright inability, of the founding parent to let go of the reins.
One of my first client’s opening comments to me was that he had been fired from his family’s business twice, by his father. He added that his father consistently voiced a desire to transition out of the business, but couldn’t seem to commit to it. My client’s attempts to assume more responsibility were met with staunch resistance.
Letting go was the issue. Letting go of the business routine; of the day-to-day activities; and slipping away from relationships established over many years.
Most transitions are difficult, but can have an upside. Letting go of the reins of a family business may have a similar beneficial effect as getting rid of clutter. It frees up space for new activities and experiences.
For myself I find, as I’m entering a transition phase of my own, I’m busier than ever with aspirations and activities that pull me forward. These however do not make it easier. I’m realizing I need to include others.
I’ve come to believe that we don’t have to do it alone. Maybe even cannot. I often tell a story similar to the one told above, where the head of a family business was ready to let go; his son ready to take over, but nothing was happening. Nothing continued to happen until the family came together and talked about a next phase for the father’s life.
It didn’t happen overnight. There were many hours of discussion. Together with the family, the father created a new purpose for himself, and a plan for going forward. He then eagerly completed the transition.