Legacy: The Family Path

Abstract

While the right family connections may be helpful on any path to leadership, this is the only one that specifically requires a family relationship. The path comes with a family brand and culture, which can be leveraged by clarifying a family narrative and sharing its values and operative methods with all stakeholders in the organization. Legacy leaders also may benefit from early family mentors who share their passion and commitment, while demonstrating how to balance the security of the position with the responsibility to live up to the brand. Leaders on the family path are often challenged by close relations, particularly those who may not have voice in the management of the family venture, and at times may lack the perspective of leaders on other paths who have experienced multiple organizations and a less secure place in the hierarchy.