Among all the challenges business owners face, the most vexing perhaps is how to share responsibilities among family members or equal partners.
This is particularly difficult when deciding who should occupy the single spot at the top of the triangle of a traditionally structured company.
The title doesn’t matter – call it President, CEO, COO or Prime Minister. We favor the term Integrator. It is the seat occupied by the one person who is responsible for making all the moving parts of a company operate smoothly and efficiently.
Sharing the responsibility is no answer. If there are two or more people responsible for a position, ultimately no one is responsible or accountable.
Determining who should run the daily operations of any business, particularly in a small family business, among multiple siblings (or other familial relationships) or among equal partners, should be determined on the basis of the responsibilities of the job in that company and who is naturally suited to the business role.
Lots of details and managing all those details is an inherent talent or it isn’t. There are lots of other important things for which to be responsible which call for other talents. Customer relationships, company culture, and figuring out the next big thing – are all among them.
The first step towards resolving this conundrum is to define the required business roles in the company, including the Integrator seat. Doing so in an open and honest manner can be a challenge but the results are worth the risk. Good luck.