During a coaching conversation about what it takes for a successful business succession, a client shared his journey as a third-generation owner of a thriving manufacturing business. He recounted how his father’s meticulous planning ensured a seamless commercial transition when he took control of the business.  This foresight minimized disruptions, allowing the business to remain stable and profitable during both the transition period and the years that followed.

However, alongside this success, he shared a poignant regret. While the financial and operational aspects of the transfer were handled flawlessly, he and his father never had an open discussion about their mutual expectations regarding roles in the business post-transition. Eager to establish himself as a capable leader, my client enthusiastically embraced his new authority.  In doing so, he overlooked that his father had envisioned a more collaborative dynamic – remaining as a mentor and advisor much like his own father had done for him.

The lack of dialogue led to unspoken tensions.  Respecting his son’s leadership, the father chose to remain silent about his feelings of being sidelined, though the emotional impact lingered.  It was only after his father’s passing that my client fully understood and appreciated his father’s unspoken expectations post transition and the pain it caused by their unmet alignment.

Reflecting on this experience, my client expressed a deep commitment to approach the transition of the business to the next generation differently. As he prepares to pass the business on, he is determined to balance the operational demands of succession with open communication about roles, values, and expectations.  He aims to ensure the process not only secures the financial legacy of the business but also nurtures the cultural and emotional bonds that have sustained it across the generations.