Family Business Issues: Letter to a Successor – Being a leader means you can’t always be the “good guy”

Let’s continue with my letter to the “Successor,” reflecting my frustrations with his recent performance. We pick up where my straight talk begins to focus on “Successor’s” effort to buy affection and respect... I hope you found our recent Board meeting worthwhile. As I expressed leaving the meeting, I regret the need for my grinding in regard to you establishing and communicating reasonable performance expectations and formal protocols for expenses, 401k match, profit sharing, pets and hiring family members. All these things continue to support my concern about your compulsion to be known as a good-guy and a propensity to attempt to buy respect and favor from family and employees. To read the end of this blog, click here.