Ready to Lead, But Still Waiting: When the Next Generation Is 45+ and the Handover Hasn’t Happened Yet
In some family businesses, “next generation” still sounds like someone in their 20s or 30s, learning the ropes and waiting their turn.
But for many families, the reality is different. The person who is “next” is often already mid-career, sometimes in their late 40s, 50s, or 60s. They know the business. They have done the years. They are carrying real responsibility. And yet, the final say still sits somewhere else.
This does not just play out in the office. It shows up at home, in family relationships, and across the leadership team, because everyone can feel when the business still depends on one person.
That gap between being ready and being trusted to lead is where a lot of tension, tiredness, and missed opportunity lives.
When “next generation” is already mid-career
The Grant Thornton 2025 Family Business Survey describes a substantial portion of the rising generation aged 44–64 who have been anticipating leadership responsibilities for an extended period. It also notes that succession is now the number one challenge for Australian family businesses, yet only 19% have a documented succession plan.¹
Put simply:
- Many potential successors are no longer “up-and-coming”. They are already seasoned.
- The handover still has not been properly talked through and put into writing.
For the person currently leading the business, the delay can feel like caution.
“We’re not quite ready.”
“The timing isn’t right.”
“Let’s get through the next few years first.”
For the person waiting in the wings, it can feel like living in a holding pattern they never agreed to. They are expected to lead, but not
fully trusted to.
What the delay does to the rising generation
If you are part of that 45+ “next generation,” you might recognise some of this:
- You have carried more responsibility over time, but the final say still sits elsewhere.
- You are accountable for results, but you cannot always change the way things get decided or done.
- You have ideas about where the business could go next, but bigger shifts keep getting pushed to “later.”
Over time, that can quietly drain motivation. People who were once energised by the idea of leading start to hold back. They stop offering ideas. They say yes, but they no longer feel truly invested in where things are heading.
It is not just about a title. It is about being seen as a leader in your own right, not just “the next in line.”
How the delay impacts the current leader
For the current leader, often a parent or older relative, the story can feel very different. They carry the weight of history, family expectations, and an identity that has been shaped around the business for decades.
When you have started or grown something over a lifetime, stepping back can be confronting. Questions start to surface:
Who am I if I’m not at the centre of this?
Will the business be safe in someone else’s hands?
What happens to my day-to-day life if I’m no longer needed in the same way?
It makes sense that many leaders push the transition down the road. The survey notes that some families still link succession with full retirement or stepping away entirely, which can make the whole topic feel bigger and scarier than it needs to be.¹
The challenge is that time moves on anyway. Health changes. Energy changes. Personal priorities change. Waiting for the “perfect moment” can
mean the handover eventually happens under pressure, instead of by choice.
The cost of “one more year”
When the transition keeps slipping, everyone pays a price.
For the business, it can mean:
- Slower decisions on new ideas
- Mixed messages to the team about who is really leading
- A sense the business is always looking backwards, not forwards
For the rising generation, it can mean frustration, doubt, and sometimes a quiet plan to look elsewhere if nothing changes.
For the current leader, it often shows up as tiredness. They are still across everything. The mental load still comes back to them. They are still trying to keep everyone happy, while worrying what will happen “when I can’t do this anymore.”
No one is doing anything wrong. But without a clear path, the business never fully benefits from all the experience already in the room.
Treat transition as a season, not a single day
One of the most helpful shifts a family can make is to stop thinking of succession as a single event and start seeing it as a season.
A transition season might last three to five years. In that time, you can:
- Gradually shift who gets the final say, not just change a job title
- Let the rising generation lead key projects or parts of the business while the current leader is still there to support
-
Redesign the current leader’s role so they still contribute in ways that matter to them, like mentoring, relationships, or areas where their
experience is still invaluable
This is not about pushing anyone out. It is about sharing the weight in a way that protects the future, and gives everyone more peace of
mind.
Practical starting points for families who feel “stuck in the middle”
If you recognise your family in this picture, a mid-career next generation, a tired current leader, and no clear plan, you are not alone.
For the current leader
-
Name the reality. Acknowledge that the person you once described as “the next generation” is now an experienced leader
in their own right.
-
Talk about a rough horizon. You do not need perfect dates, but you do need a direction. Are you imagining a full
handover in three years? Five? Longer? Say it out loud.
-
Be honest about what’s holding you back. Money, identity, fear of letting go, concern about family dynamics. If it
stays unspoken, it stays stuck.
For the rising generation
-
Say what you want clearly. Do not assume your interest in leading is obvious. Share how you see your future in the
business, and what you feel ready to take on.
-
Ask for specific steps. Instead of “When will I be in charge?”, try “What would you need to see from me over the next
12–24 months to feel comfortable handing over more responsibility?”
-
Stay steady, not combative. It is normal to feel frustrated, but a calm tone helps the other person stay in the
conversation.
For the family as a whole
-
Put something in writing. It does not need to be perfect. Even a simple shared document with a broad timeline and who
owns what is better than years of unspoken assumptions.
-
Bring in a neutral person if needed. Sometimes you need someone outside the family who can hold the line, ask the hard
questions gently, and keep the conversations moving when emotions run high.
7 questions to start the transition conversation
If you are not sure how to begin, these questions can help open things up without turning it into a confrontation. You do not have to cover them all at once. Even one or two can shift the tone.
1. In five years’ time, what would you like life to look like, for you and for the business?
This creates space to talk about lifestyle, energy, and hopes, not just numbers.
2. What does a “good” transition look like from your point of view?
For the current leader, it might mean financial comfort and staying involved in meaningful ways. For the rising generation, it might mean clear responsibility and room to shape the future.3. What worries you most when you think about handing over more responsibility?
This surfaces the deeper concerns, like security, identity, and “what’s next.”
4. What do you feel ready to take on in the next 12–24 months, and what support would you need?
This keeps it practical, and turns it into a shared plan rather than an all-or-nothing leap.
5. Where do you feel we’re getting stuck, is it timing, trust, clarity, or something else?
Naming the real blocker often changes everything.
5. What is a realistic timeframe for sharing more decisions and leadership, three years or five years?
Open-ended “one day” usually keeps everyone waiting. A range gives the conversation something to hold.
7. How will we keep this conversation going, who should be involved, and how often will we check in?
This is where you can decide whether a neutral person should help keep it calm and consistent
Choosing not to wait any longer
The Grant Thornton Family Business survey points to the urgency of succession planning as more of the rising generation reaches mid-life.¹ That urgency does not have to feel like panic. It can feel like care.
Starting these conversations now is a way of looking after everyone:
- The current leader, who deserves a future that is not built on constant responsibility
- The rising generation, who deserve clarity about their role and their future
- The team, who deserve to know who they are following and where the business is heading
You cannot rewind the clock and give the rising generation more years of leading. But you can decide that “one more year” is no longer the default answer.
If you are looking at your own family business and seeing a 45+ “next generation” still waiting at the edge of the table, this might be the moment to ask:
What would it take to move from waiting, to a clear handover plan that everyone can live with?
If you would like support to map the next 12–36 months in a way that feels calm, fair, and practical, Your Business Momentum can help you shape a handover plan that works for the people involved, not just the business on paper.
Reference
¹ Grant Thornton Australia. (2025). Family Business Survey 2025: Empowering the rising generation. https://www.grantthornton.com.au/globalassets/1.-member-firms/australian-website/services/private-advisory/pdfs/gtal_2025_national-family-business-report-2025.pdf
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