TRANSITION / SUCCESSION

Family Business or Game of Thrones

Lizette Dubacher

July 29, 2025

Who will sit at the head of the table when you step down?

Picture this: You’re the one who built the kingdom – brick by brick, deal by deal, risk by risk. Now you’re seated at the head of the table, with years of sacrifice behind you. And all eyes are on what happens next.

Is your successor already chosen or merely assumed?

In Game of Thrones, rival houses clashed for control, driven by legacy, bloodlines, ego, and power. Thrones weren’t simply inherited—they were claimed, often through chaos. Succession in a family business may not involve dragons or battles, but it can feel just as unpredictable.

So what happens when there’s no clear plan? Or worse. When the plan only lives in your head.

Why is succession so emotional and so often avoided?

Passing leadership isn’t just about strategy – it’s about identity. For many business owners, the company is them. Letting go means redefining purpose, shifting influence, and facing the unknown.

Why do we delay these conversations, even when we know they’re necessary?

Perhaps it’s easier to stay focused on day-to-day operations than to dive into something this personal. Or maybe we believe the answers will become obvious over time. But rarely do they. The next generation is left on the sidelines, eager yet unsure how to step into leadership, and unsure if they’re even allowed to try.

What happens when you assume everyone is on the same page?

In the absence of open dialogue, people write their own scripts. The eldest child assumes they’ll lead. A key executive feels overlooked. A younger sibling quietly doubts their worth. No one knows the true plan, but everyone thinks they do. Assumptions are the silent killers of succession.

Which of these myths might be holding you back?

• “Everyone knows who’s next.”
  Are you sure? Assumptions can lead to power struggles and broken trust. Have you said it out loud?
• “I’ll just know when the time is right.”
  Waiting for clarity often leads to paralysis. What would happen if you weren’t here tomorrow?
• “Succession means stepping away immediately.”
  What if you saw it as mentorship, not a handoff? You don’t vanish, you guide.

What can Game of Thrones teach us about family business failures?

In Game of Thrones, the lack of a clear, agreed-upon succession plan ignites chaos. Siblings and cousins battle. Alliances shift. The realm fractures. Sound extreme? Maybe. But in business, lack of clarity creates its own kind of war – one that costs relationships, trust, and the long-term health of your company.

Where in your business might confusion already be creating tension?

Employees wonder who’s in charge. Clients feel instability. Family members wrestle with mixed signals. And just like in the show, when the transition plan is unclear, the whole system becomes vulnerable.

Could your next leader be hiding in plain sight?

Many business owners look to the “obvious heir” – an eldest child, the most vocal manager, or a fresh outsider with a polished résumé. But leadership isn’t always loud. Sometimes the strongest future CEO is quietly earning trust, living your company’s values, and waiting for an invitation to step forward.

What qualities actually matter most in your next leader?

Are you looking for charisma or character? Vision or values? Have you created the space for emerging leaders to grow? Or just hoping they’ll figure it out?

How can you start planning without feeling overwhelmed?

Succession doesn’t have to be an abrupt ending. Think of it as the next season, a new storyline where you’re still a central character, but no longer carrying every plotline alone.

Here are three steps to begin:

• Define Your Timeline
  What would happen if you took a month off? A year? Work backward from there. Your timeline doesn’t have to be immediate, but it should be intentional.
• Start the Conversation
  Who needs to be at the table? What questions do you need to ask? Share your vision and invite others to share theirs.
• Bring in Outside Perspective
  From ownership models to leadership readiness, there are tools and experts to help you build a transition plan that works for your business, your family, and your future.

Will your legacy be a power struggle – or a plan?

You’ve already built the kingdom. The question now is: will it stand strong for the next generation, or crumble under uncertainty? You don’t need a crown or a sword to claim your role as a thoughtful, strategic founder. You just need to start the conversation.

So…who’s sitting at your table today?
And who might be ready to lead tomorrow?

What future are you building for your family, your team, and your legacy?
Let’s talk about your family business success.

At Compass Point, we help family businesses navigate the complex, emotional, and critical processes of family business – including succession planning without the drama – through our Six Pillars of Family Business Framework.

Let’s create a plan worthy of the legacy you are building.