Although family businesses are originally founded, built, and nurtured with courage, passion, love, persistence, full dedication and commitment, still, by time, different forms of fear permeate its layers. By time, fear becomes multi-dimensional and develops into different forms of resistance. The latter could hit all stakeholders, namely, individuals, groups and entities; so as to emerge across the whole ecosystem.
However, nothing can destroy the family business legacy more than resistance of adjustment, regulating, development, and change. It nurtures controversies, resentment, disgruntlement, and engenders agonies so conflicts. Once the mentioned last knocks the courts’ doors, in terms of litigations, particularly upon the absence of the founder, it turns into a battle where all legal guns are allowed; which reveals extremely costly, not only at the financial, time and energy levels, but significantly on the emotional level. This could deconstruct the family, and then wind up the family business.
Accordingly, fear is expensive and needs to be highly understood and conquered. This requires intermarrying the past to the present so as to foretell the future. Particularly, fear holds back to the past, and gives a scare from the indiscernible forthcoming enemy.
Seeing, families and family businesses are not an isolated occurrence, instead, they always follow a long-life enduring path that deserves to be kept and maintained. Then, preserving their stability and longevity necessitates a multi-disciplinary, well-defined curative process, legally translated and consciously finalized aiming at implementing a healthy and successful family and business succession.
As Clement Stone once said: “Thinking will not overcome fear but action will”, if adventurous people build families and family businesses, only stout-hearted can design, engineer, and regulate their endurance.