When look for a successor it is important to look for certain skills abilities and attitudes of that individual. It is even more important to look for those skills in an impartial manner especially when it pertains to a relative. Partiality toward a family member as a successor is a major cause of generational business failure. With that in mind, it is vital that, at least the major traits are reviewed.
With that in mind, we reviewed some of the most successful “next generation successors” we know and we have come up with the top 12 traits (we got a baker’s dozen!) that separate successful successors from the “rest of the pack.”
This certainly is not a complete lists but without these traits, it has been demonstrated over and over again, that, especially family members, will have less of a chance for success. Some of the top traits we have identified are as follows: