Running any business is not easy and with the family dynamics and challenges associated with relationships it is probably more of a challenge running a family firm, or at least it can be.

Core skills are required of any leader and there are a plethora of programmes around to help fulfil potential but there are still some basic attributes that are needed for the future family business leaders.

These include:

  • Strong management and leadership skills
  • Experience
  • Financial understanding and awareness of the numbers driving the business
  • Digital awareness to bring innovation
  • Desire to take on the position
  • The required skills

There is a lot of debate about the skills needed to lead a business and how to help individuals flourish but one thing is for sure, entrepreneurship tends to be at the heart of successful family firms and those with good governance, a good leader at the helm, and a positive approach to the evolution of the business to ensure it remains relevant are important too.

In many cases, the help of a good coach or mentor to continually challenge the  leader can also be a good thing too!