If you lead a family business, succession isn\u2019t a chapter you can skip\u2014or postpone indefinitely. Whether you\u2019re a first-generation founder or a fourth-generation steward like I was, the time to start planning for what comes next is always now.<\/p>\n
My own journey at Sligh Furniture & Clocks started long before I held a formal role. As a kid, I\u2019d hear stories around the dinner table\u2014 often about what went wrong that day. Customers didn\u2019t pay, shipments didn\u2019t arrive, employees missed the mark. As parents, we often use home as a place to vent. I\u2019ve learned we should also be mindful. What we say at home is how kids first get introduced to what the business is all about. If they hear a lot of stress and few instances of pride and satisfaction, we can expect they won’t be interested in joining the family business when they grow up.<\/p>\n
At the same time, we have to listen\u2014to their dreams, not just our own. I loved sailboat racing as a kid, and I naturally assumed my son would too. We rigged up a small boat together, just like my dad and I had done. A few weeks into sailing lessons, he pulled me aside and said, \u201cDad, I don\u2019t think I like sailboats.\u201d It was humbling, but important. The same applies to the business. We can\u2019t impose our passions on our children. We have to let them find their own.<\/p>\n
That said, if our children do show interest, it\u2019s important to give them the right exposure\u2014and the right expectations. I worked frontline jobs as a teenager, and the advice I got then still holds: be early, take short breaks, smile and stay late. Attitude matters. Even if I wasn\u2019t the best at a factory or maintenance job, people remembered how I showed up.<\/p>\n
Later, I joined the family business\u2014but only after working elsewhere. That was a rule in our family, and I\u2019m glad it was. I spent five years in brand management at SC Johnson, another great family business. It gave me confidence, taught me valuable skills, and when I eventually returned to our company, I brought those lessons with me. I also earned more respect from employees because I had proven myself elsewhere.<\/p>\n
That external experience matters, especially for the next generation. It builds credibility\u2014with colleagues and within yourself. And when a family member applies for a role back in the business, they should be treated like any other candidate. Same expectations, same process. If they\u2019re the best person for the job, great. But there shouldn\u2019t be any handouts.<\/p>\n
I\u2019ve also learned that setbacks are critical. I once lost a job during the savings and loan crisis in my early 20s. It was devastating at the time, but it forced me to think bigger, pursue graduate school, and ultimately find my way to a better opportunity. That lesson stuck: don\u2019t shield your kids from adversity. Let them grow from it.<\/p>\n
Our business was founded in 1880 in Grand Rapids, Michigan\u2014 in a four-county area that once employed 40% of its population in furniture making. Over generations, our company had to evolve. From bedroom suits to student furniture, from grandfather clocks to home office solutions, every generation had to find the next pivot.<\/p>\n
In the 1980s we had 22 family shareholders. A key milestone was the development of a fiduciary board with a majority of independent directors. They were trusted as fair arbiters by the whole family. The board helped immensely with ownership and leadership succession as well as strategy.<\/p>\n
By the time I took over in the early \u201990s, home electronics were changing how people used furniture. We became the leader in high-end wood home furniture that accommodated consumer electronics. Later, we led the market in high-end wood entertainment furniture that accommodated the new flat-screen, wide-format TVs. Innovation wasn\u2019t optional; it was survival.<\/p>\n
Eventually, we had to confront our own succession questions. None of my four children wanted to take over. Each had their own dreams\u2014one is a sommelier in New York, another works at the UN in Geneva Switzerland, one\u2019s a tech company Chief of Staff, and another teaches computer science and writes music for films. I couldn\u2019t be prouder. But that clarity also led us to sell the business. We trimmed the shareholder tree early, enabling family members to pursue their paths. That avoided resentment and gave the business a clean path forward.<\/p>\n
I\u2019ve seen families stall because a parent can\u2019t let go or a child won\u2019t step up. Both are natural. For current leaders, the business is often their identity. But true leadership is knowing when to step aside and let others lead\u2014even if it means the business exits the family. Clinging too tightly can destroy what you spent your life building.<\/p>\n
Today my encore career is helping other family enterprises. We facilitate family meetings and ownership councils, help build high performing boards with independent directors, support ownership and leadership succession processes and coach new family enterprise presidents and NextGens.<\/p>\n
My final advice: don\u2019t assume succession will work itself out. Plan early. Talk openly. Give the next generation space to grow, fail and choose. And above all, remember\u2014it\u2019s not just about continuity. It\u2019s about creating the conditions for success, even if that success looks different than you imagined.<\/p>\n","protected":false},"excerpt":{"rendered":"
A fourth-generation leader reflects on succession, identity and knowing when to step aside. His journey offers lessons for every family business navigating what\u2019s next.<\/p>\n","protected":false},"author":32130,"featured_media":370011,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_oasis_is_in_workflow":0,"_oasis_original":0,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[871,878],"tags":[],"class_list":["post-369995","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-leadershipmanagement","category-succession-planning-leadershipmanagement"],"acf":[],"yoast_head":"\n