The figure of the founder is certainly one of the fundamental components of the identity of a family business. As a report published by Portal HSM points out, principles and values consolidated during the patriarch's management influence the company's relationship with its internal and external audiences.
In the view of Domingos Ricca, a consultant specializing in family businesses and interviewed by HSM, the figure of the patriarch becomes a source of knowledge and inspiration for the team. Ricca considers this presence a competitive advantage as the credibility and loyalty gained by the founder become market differentiators for family businesses.
To ensure that all this heritage survives the patriarch's departure, the consultant states that a good transition process is essential. The founder's mission, in Domingos Ricca's opinion, is to choose a successor compatible with his attributes and follow him closely during the passing of the baton. The ideal, according to the expert, is to subject the successor to training programs that make him/her familiar with all sectors of the company, understanding the importance of maintaining the culture established by the founder.
Whoever will succeed the patriarch, according to the consultant's guidance, must bear in mind that his management, in addition to managing human and financial capital, must deal with the emotional ties present in a family business. Domingos Ricca analyzes that it is common for doubts and conflicts to arise that were more easily managed when corporate governance was with the head of the family. Therefore, in addition to training for successors, Ricca guides activities such as the implementation of an administrative board and statutes to facilitate the transition and professionalization of family businesses.
