In Small and Medium Enterprises, in the course of succession planning, when the next generation is in the process of taking over from “Mom/ Dad” it is very important that the same is planned in a very professional manner.
If you are going through this phase in life, please answer the following questions to assess your own “Mama’s Boy” quotient:
(I have given my own answers to each question. If your answers match mine, you are on the right path)
- How often does your “Mom/ Dad” take decisions for you?
- Does your “Mom/ Dad” talk directly to your staff?
- Is your staff aware that it is “Mom/ Dad” who actually call the shots and take all crucial decisions?
- How do you handle differences, if any in business decision making, with your “Mom/ Dad”?
- Do you run the risk of losing your business if you differ in your opinion with your “Mom/ Dad” and the same is not being resolved very easily?
- I take all the decisions after consulting my “Mom/ Dad”. I don’t want to lose out on their experience and learn from the same. At the same time, my flavor in all business decisions is a must.
- I do not allow my “Mom/ Dad” to talk directly to my staff. Any ship can only have one captain. I request my “Mom/ Dad” to communicate all their feelings about business and staff to me and leave it to me to do the rest if I deem the same fit as well.
- My “Mom/ Dad” can at best influence decision making. They do not take any decisions and this is a rule which is very well supported by my “Mom/ Dad”.
- All differences are put open for discussion on the dining table. Beyond that it is a process of convincing each other. In case of stalemate , I go ahead with my own gut feeling.
- I am a professional and so are my parents. We would never like to lose each other on differences in opinion. I listen to my conscience and business gut feeling before going ahead. Nevertheless, I give due consideration to my “Mom/ Dad” proposals even though I may not fully agree to the same.