The Empty Chair

In many family businesses, the most influential person in the room may be the one who is not there.

It may be a founder who died years ago. A grandmother whose principles became family law. A brother who left after a dispute. A branch of the family that sold its shares. Sometimes it is simply the memory of how things were done when everyone still worked from one office.

Families carry absences differently from corporations.

A company eventually replaces a departed executive. A family rarely replaces anyone. The chair may be occupied by somebody else, but the missing person continues to participate through stories, habits, loyalties and prohibitions.

"We never sell."

"Your grandfather would not have approved."

"This is not how our family behaves."

Such sentences can preserve valuable principles. They can also give the past a permanent vote over the future.

The difficulty is knowing the difference. Legacy should inform judgment, not replace it.

Every generation inherits stories about what previous generations believed. But circumstances change. A decision that was wise when capital was scarce may be unwise when capital is abundant. A rule created to prevent one particular conflict can become an obstacle fifty years later.

Respecting those who came before us does not require reproducing their decisions.

Perhaps the better question is not: what would they have done?

It is: what were they trying to protect?

Once we understand that, we may discover that preserving their purpose sometimes requires changing their method.

The empty chair deserves respect.

It should not have a veto.

W.