Taking on a family business can be a tough role to take, requires leadership skills and qualities and abilities that only get the chance to come to the fore when the next generation are actually at the helm.
So what makes a good leader? This is a question that academics the world over spend lots of time debating and ultimately it will come down to the individual and the set of circumstances determining the situation that they find themselves in. Other factors come to the fore too such as when they take the helm - was it a planned process or the result of a significant and sudden lifetime event such as the death of a parent.
Leadership brings with it further responsibilities in any business, but in a family firm often comes with additional 'burdens' associated with the 'extended family' of employees and stakeholders who may also have been associated with the firm for generations.
There are certain skills/traits that good leaders exhibit and this article is a good reference point for those qualities.
Do you consider yourself a follower? Have you always wanted to become a leader? What, exactly, distinguishes the two? Leadership comes with additional responsibility, but also additional opportunities, more respect, and more control over your life. While some people are content to avoid leadership, serving as cogs in bigger machines, the rest of us aspire to take charge of our own destinies. But if you’re used to living your life and spending your career as a follower, is it even possible to become a leader?