ZOWFIR ZAHEED
COLOMBO : : When you hear the words “family business,” what comes to mind? Warm images of trust, loyalty, shared dreams perhaps, a father-and-son handshake sealing the future.
But peel back the curtain, and the reality is often far more complex.
At too many dining tables, boardroom decisions spill into family dinners. Siblings argue not just over profits, but over pride. Parents struggle with the hardest question of all when to let go.
And here’s the hard truth: 70% of family businesses don’t make it past the second generation.
Not because of competition. Not because of market collapse.
But because the conversations that matter most about leadership, succession, and ownership never happen until it’s too late.
Behind the Numbers Are Emotions
Globally, family businesses generate over 70% of GDP (McKinsey & Co.), yet most won’t survive beyond Gen Two. Harvard Business Review research reveals that 60% of these failures are caused by lack of trust and communication.
The unspoken questions are what derail even profitable enterprises:
Who really decides when siblings disagree?
What does “fair” look like between in-laws or cousins?
What happens when the next generation is ready to transform the business, but the founder won’t step aside?
In family enterprises, strategy is rarely the problem. Silence is.
The Leadership Test No One Talks About
Running a company is tough. Running one with your spouse, children, or siblings? That’s a whole different level.
Founders wear three hats — CEO, parent, peacekeeper. Successors are caught between proving themselves and protecting family respect.
Without a framework, what starts as love can end as legacy loss.
Clarity Is the Game-Changer
To thrive across generations, family enterprises must intentionally separate three things:
Ownership – Who holds shares.
Management – Who runs operations.
Family – Who gets a say in what.
And then align them with governance structures, transparent decision-making, and regular communication.
This doesn’t just prevent breakdown — it creates breakthroughs.
Trust deepens. Growth accelerates. The next generation leads with confidence, not confusion.
Legacy Is a Team Sport
A family business isn’t just an asset. It’s a living organism, shaped daily by choices, conversations, and courage.
Legacy is not about control — it’s about clarity. It’s not about how much you leave behind — it’s about how well prepared the next generation is to preserve, grow, and honor what you’ve built.
If You’re at a Turning Point, the Time Is Now
The cost of waiting for conflict to force change is too high. Start sooner. Talk sooner. Build smarter. Because when it comes to family and business, this is not just about profits. It’s about blood.
It’s about building an inheritance of trust, purpose, and a roadmap that can carry your name far beyond a single generation.
An Invitation to Families Ready for Change
If your business is at a crossroads whether facing succession challenges, generational transition, or silent conflicts join me for “Beyond Legacy: Creating Generational Impact” on 24th September 2025 from 4.30-7pm at Ramada by Wyndham, Colombo (in person & virtual).
This high-impact workshop is designed to:
✅ Uncover blind spots most families never discuss
✅ Equip you with governance frameworks and decision maps
✅ Turn tough conversations into lasting harmony
Deep conversations take time. Reserve your spot here: www.zowfirzaheed.com/workshops/legacy2025
Because businesses fade. Legacies live on. And the future of yours starts here.
The discussion will be led by Zowfir Zaheed. With a distinguished career spanning three decades across South Asia and the Middle East, Zowfir Zaheed is a trusted strategist in navigating the sensitive yet crucial terrain of family business dynamics.
From facilitating generational transitions to resolving conflicts, Zowfir brings real-world experience, backed by a global perspective and deep cultural insight which makes him a trusted partner for families building a legacy that lasts. He works with handpicked subject matter experts in legal, tax, and Shariah advisory services to offer bespoke solutions for clients.
Known for his hands-on, process-driven methodology, Zowfir specializes in guiding SMEs through crisis, transition, and sustainable growth. His advisory services extend to start-ups, businesses in stagnation, and global fund facilitation.
For more information, visit: www.zowfirzaheed.com & www.zzturnaroundsolutions.com
[By Zowfir Zaheed | Family Business Continuity Advisor & Business Turnaround Advocate]
