If you want your business to live on, you can’t let a committee run it. You’ve got to choose one family member to lead the next generation — the one who truly “gets it.”
That doesn’t mean you can’t share ownership or profits among your children. It just means someone has to be the captain of the ship — the decision-maker who keeps things moving forward fairly and strategically.
Once you’ve identified that person, the next step is development.
• Send them to work in another business or industry.
• Help them get additional training or education.
• Let them earn the same respect from vendors, employees, and clients that you did.
Legacy isn’t just about passing down a business. It’s about passing down leadership. Build the next generation of capable, trustworthy family entrepreneurs.
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