What If You Choose to Hang On?

Abstract

“I’m not a dynast,” said one CEO who’s in his mid-70s. “My I ego is not involved in believing that this business will last forever. It’s not my goal to see my grandchildren taking over this business. That’s their parents’ concern.” This owner takes pride, however, in having created wealth and having contributed to his children’s prosperity. He also experiences the satisfaction that comes from knowing his offspring could make their own way even if they weren’t in the family business. Even though their father has not stepped aside, the three adult children have stayed in the business. He has been honest with them about his plans to hang on, and they have made their own decisions about continuing in the family firm with the full knowledge of their father’s intent.