How to Take Over the Family Business Without Alienating Your Parents

Long before Karla Trotman took over Electro Soft Inc., the company started by her parents in 1986, she was deeply involved in the business. As a kid, she spent hours after school cutting wires by hand and reading blueprints for the Philadelphia tri-state area custom electronics manufacturer. Trotman established herself professionally elsewhere, though, occupying various roles in logistics and supply management for Gap Inc. and Ikea. That outside experience was key to helping her realize she had a future with her family’s company, she says.

Here, Trotman explains how she navigated the business structure, prepared to take the reins, and what to consider if you’re in a position to take over a family company. The interview has been edited for clarity and length.