Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Businessweek Archives

Transition Is A Process, Not An Event!

Many family business owners think of transition as an event. They associate it with death, retirement, or some other form of departure from their companies. But that shouldn’t be the case.

In its best form, transition is a process that occurs over time in a planned, orderly progression. Handing the torch to a new

leader can’t be done overnight. The best analogy for describing the process is that of a runner in a relay race. When the

first runner is finishing his leg, the second takes off and builds up his speed to match that of the first. The reason they

match speeds is to create a smooth and uneventful handoff of the baton. Think for a minute what the result would be if the

runner of the second leg stood still at his start line awaiting the handoff!

But this is often exactly what family businesses do. The second runner, the leader of the second generation, for example,

stands still waiting for directions from the first runner, the founding entrepreneur. If the founder doesn’t do his part to

prepare the leader of the second generation, difficulties abound, and the transition will not be smooth.

Wayne Rivers


Family Business Institute

Raleigh, N.C.

blog comments powered by Disqus