The Ego Threat: Why Letting Go Is the Hardest Leadership Move in Family Business

<p>What separates family businesses that thrive for generations from the ones quietly falling apart inside? In this episode, I sit down with Dr. Peter Boumgarden, Koch Professor of Practice for Family Enterprise at Washington University&#39;s Olin Business School, to talk trust, structure, and why family members often have to work harder than outsiders to earn credibility.</p><p>We also dig into a fascinating study on father-son succession: the more capable the next generation becomes, the more an owner&#39;s ego can tighten its grip. Peter shares why non-family leaders like Larry Hofstetter at Schaeffer Manufacturing can become &quot;more family than family,&quot; and what it really takes to define a business&#39;s purpose before it&#39;s too late.</p><p></p>