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Family business succession is something that can cause problems for many people. Without good communication between the older and younger generations, it’s easy to run into difficult or awkward situations. These situations can have very real consequences for both family dynamics and the company itself.

In this video, I talk with someone who did things the right way. Ryan Stecklair is CEO of Family Flooring and Window Coverings, a business that he successfully took over from his father.

Growing up in the family business, Ryan found it a bit daunting to approach his father about taking over. There hadn’t been any processes put in place for doing so. So, one day, he finally decided to talk to him. His father was very generous and didn’t try to hold onto the business as a part of his identity. This is a key part of a successful family business succession. When the older generation is resistant and doesn’t engage in good communication, it makes the transition rough.

It becomes even more complicated when other family members are involved. For example, Ryan had a brother in the business as well. When it came time for the transition to take place, there were a lot of conversations regarding what each person’s role in the business would be. Ryan attributes the success of these conversations to the loving nature in which they were carried out. Effective communication starts with love, rather than fear or selfishness.

Ryan and his family were able to have a smooth family business succession because they were ultimately willing to have good communication and to be generous toward one another. These are the necessary elements of any smooth transition.

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Karie Kaufmann
San Diego Business Coach
ActionCOACH Business Coaching + Training Center
3111 Camino del Rio N STE 101, San Diego, CA 92108
(619) 321-9262
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