Better not to hire a coach or go to a therapist or even pick a doctor, because you might discover that you’ve been doing something wrong.[1]

Many times I have spoken with principals of family businesses about their plans for transitioning to the next generation. Many times I have seen that they do not understand how to do this successfully. They listen to what I have to say, but do not ask for help. I have seen heads nodding in agreement about the benefits of hiring a professional with family-business expertise to guide them and their family in achieving a multi-generational family business, and reaping the rewards of having an established multi-generational family. And too frequently, I see no further action taken. It’s sad. because I know the difference that an expert in family-business best-management practices can make.

In his blog article, The Overwhelming Fear of Being Wrong, Seth Godin suggests that fear engendered by uncertainty stops forward action. In the case of family-businesses leaders, fear of asking for expert help may stem from not knowing how to assess the guidance being provided. There may be fear that other family members may object; that they personally may be supplanted; that they may be seen as being wrong in hiring an “outsider.”

Most family businesses do not survive beyond their third generation. Their failure is largely due to a lack of understanding of the best practices and unique dynamics of family enterprises. Family-business consultants have the know-how to guide your family business safely through this critical transition. When it’s forward motion or stop, perhaps it’s best to overcome the fear of being wrong. and ask for help.

[1] Seth. Godin. The Overwhelming Fear of Being Wrong, https://seths.blog/2011/07/the-overwhelming-fear-of-being-wrong/