With every new generation, family-owned businesses come to a fork in the road. Who will take over the reins? In the line of succession, many are called but few are chosen. Not everyone is an entrepreneur. Children or grandchildren are not necessarily suited or motivated to take over the family business.
The automatic choice for family members and the mystique surrounding entrepreneurship and the idea of 'being your own boss' imbued by outsiders can lead to great misfortune. Family businesses are extremely important for the economy. The loss of a successful family business destroys capital, jobs and, in some cases, cultural heritage. This is a bitter pill to swallow if it can be attributed to the failure of the heirs.
In the experience of Maes & Lunau, succession in family businesses is only successful when the candidates have been thoroughly vetted and expertly coached.
Maes & Lunau Executive Search
1079 LK Amsterdam
Member of Penrhyn International with offices world wide