I have been talking to other business owners about whether their sons and daughters will be taking over the family business when they retire, and I have been thinking about my own succession plans. I have three sons, and I don’t know if any of them will eventually want to run the business. The fact is, some people do not want to run a business, and some just don’t want to run the family business. But it has got me thinking. Shakespeare wrote, “Uneasy lies the head that wears a crown,” and as usual he was on to something.
Here’s my question: Is wearing an entrepreneurial crown too uneasy for “normal” people? Entrepreneurs are definitely not normal, and entrepreneurship is definitely not for everyone. For the sake of all of the sons and daughters who are potential heirs apparent — or even just for anyone who happens to be considering starting or taking over a business, I thought I would take a shot at making the list. You know, the list with the pros on one side and the cons on the other. Even though I’ve been living it everyday for almost 35 years, this is the first time that I have even thought about it. When I made my career choice, I didn’t need to make lists — starting a business was the only thing I wanted to do.