“To succeed or not to…” Succession check list Part 1

Once in a while, I have some chances to be involved in family business succession discussions and I would like to summarize a check list for potential successors to get decided. The list of “To succeed or not to…”

The check list is as follows;

1 No doubts for “I must succeed”, no other options
2 Ritual events among family are actually trouble some

3 I have assessed the value of assets that I succeed
4 I have at least three other things to do except for our family business

5 Our family business must be ended in my generation

6 I should not ask others’ help/ support

7 I have often got troubled with idiot people

If you check one of above, I would suggest reconsidering your succession. You may not have to succeed your family business.

The reasons are as follows;

１　No doubts for “I must succeed”, no other options

>>>You can be flexible, before limiting your options, you would be able to find other way out

2 Ritual events among family are actually troublesome

>>> Succession means handing over family DNA, spontaneous respect to ancestors is nice to have

３　I have assessed the value of assets that I succeed

>>> Succession fails when you start protecting your own possession

4 I have at least three other things to do except for our family business

>>> family business should not be your excuse of not to live your own life.

5 Our family business must be ended in my generation

>>>Business management can be outsourced, and business family is one of the options

6 I should not ask others’ help/ support

>>> Leadership is the learning process of how to get others involved

7 I have often got troubled with idiot people

>>> Smart guy is not always a good business leader

1 No doubts for “I must succeed”, no other options

>>>You can be flexible, before limiting your options, you would be able to find other way out

Analyzing various cases, I have found out many potential successors have this trap.

I really hate our family business, but I have no choice but to take over.

They seems to be influenced by people around them, such as parents and grandparents.

They unintentionally eliminate all the other options in their mind.

For instance,

Appointing someone as the president looks possible.

You can sell your business to others and become the president of a holding company.

Of course, it is possible to have a reliable employee president.

I think there are many options when you seriously start looking for.

Given all those options, you still think that you have to succeed that business, I recommend that you take over.

That’s because your subconscious mind has already decided to do so.

2 Ritual events among family are actually troublesome

>>> Succession means handing over family DNA, spontaneous respect to ancestors is nice to have

Among those who have been enjoying their career as successors, they have something in common: the gratitude towards ancestors: parents, grandparents, and ancestors.

Some people naturally have such appreciation, not enforced.

Since I took over the family business, many people have helped me simply because I am a family member of that family.

Apparently, my ancestors have done good things: helped local people.

This sense doesn’t seem to be something very special: many people treat their ancestors with natural respect.

Of course, such people are also enthusiastic about ceremonial occasions.

Gratitude and respect spontaneously come from your mind, and those are not the feeling.

After all, I think it’s something that you consciously force to wake up in your heart.

If you first have this kind of feeling, you are the one who is to succeed the family business.

However, if you don’t feel gratitude towards your ancestors, you consider not to take.

I think it is difficult for those who don’t care handing over your DNA, to take action to hand over your assets to the next generation.