Bizit Seminar Emotional Barriers of Founders During the Transition Process

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zahidjr
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Bizit Seminar Emotional Barriers of Founders During the Transition Process

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They learn, they progress, sometimes they falter, they stop for a moment just long enough to wipe the sweat from their faces and continue on, because what is ahead of them is waiting. And the time comes to transfer the business. It happens once in the life of the company and the life of the founder, and represents handing over control of the business to another party. In practice, it is often postponed, and in many cases it is abandoned. It is very stressful for all parties in the process: for the founder, the heir and the company itself. Few companies and families successfully go through the transfer process, whether it is the transfer to another generation or the sale of the company. For both the one and the other process, it is necessary to prepare not only the company, but also the founders, heirs and families. There are many barriers on the road to preparation, and one of the biggest and most delicate is the emotional barrier of the founder. Research in the field of emotional barriers of founders during the transition process (Weesie) showed that founders most often experience: Fear of losing control over the company Founders show resistance/indecisiveness towards the transfer process when it comes to the moment of releasing control over the operational functioning of the company.

The previous daily activities and routine of the founder are changing, which combined with the loss of control over management and decision-making on a daily level has a negative impact on the founder himself. It is necessary to engage additional Latvia Phone Number List internal resources of the founder's personality in order to establish adequate functioning after the change. The period of adaptation to new circumstances is individual and differs from person to person. BIZIT Seminar Fear of future emptiness After decades of work, the founders are faced with the question of what they will do when someone else takes over. The loss of part of the founder's identity related to the business segment negatively affects the transfer process itself. It is necessary to prepare for a new stage in life in order to alleviate or completely avoid the fear of finitude, emptiness, idleness and leading a less active life. A lack of faith in the ability of the heir and a reduction in the importance of the transfer process The founder lacks faith in the competence and ability of the successor to bring the company to the next level or to maintain the current state of business. The founders often do not plan the transfer of the business, because they believe that it is complicated and that the preparation will be too complex.

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They are often not sufficiently familiar with the steps and phases of business transfer. By getting to know the above, they get a more realistic time frame needed for implementation and information about the necessary participants, parties in the process, which increases the probability of success. Dilemmas regarding the choice of heir children The choice of an heir often leads to jealousy and rivalry among children, which can complicate and damage family relations to a considerable extent. In some cultures, it is expected that heirs are chosen from male offspring, even though daughters may be more capable. In some, however, the eldest son is the destined heir, although among the younger brothers and sisters there are those who would be more adequate for such a role. Quite often, the founders would like the children to work and lead together, even though they themselves are aware that this is not possible. All these dilemmas are contained in a big question that is almost always before the founders: "How to be fair to children and do the best thing for the company" (Vukić) The process of transition is inevitable, one way or another. Sometimes it is difficult to come to terms with the choices of our loved ones, and sometimes even ourselves. But no matter how difficult it may seem, sometimes we need to let go, to accept, to hear those around us and to go through delicate situations together.
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