A Tale of Two Leaders

George Steinbrenner knew baseball. He knew the Yankees. But most importantly, he knew when it was time to pass the torch.

Richard Murdock? Different story. His publishing empire, built on ambition and innovation, faltered when it came to one crucial question:

Who’s next?

Two family businesses. Two leaders. Two vastly different outcomes.

Steinbrenner: A Legacy in the Dugout

George Steinbrenner didn’t just own the Yankees—he was the Yankees. The Boss. The face. The voice.

But Steinbrenner understood something many leaders don’t: legacy isn’t just about today. It’s about what happens when you’re gone.

He groomed his children. Slowly, deliberately. Gave them roles. Let them make decisions. Watched them fail and succeed.

By the time he stepped back, the Yankees were in good hands. His children weren’t just family—they were capable leaders. The business, the brand, and the team didn’t miss a beat.

Murdock: A House of Cards

Rupert Murdock built a publishing empire. Bestsellers. Magazine covers. A media juggernaut.

But Murdock had a blind spot. Succession wasn’t a priority—it was a problem for "someday."

Someday came sooner than he thought.

When Murdock’s health declined, his family scrambled. No clear heir. No plan. Just infighting and uncertainty.

The result? A fractured legacy. A business in decline. The empire Murdock built became a cautionary tale.

Family Business: The Succession Sweet Spot

Here’s the thing about family businesses: they’re personal. Too personal.

You want stability, but you don’t want to let go. You want to pass the torch, but you’re not ready to step aside.

It’s a balancing act. And it’s hard.

But Steinbrenner shows us it’s possible. Start early. Train the next generation. Let them fail under your watch, not after you’re gone.

Murdock, on the other hand, reminds us what happens when you delay. No plan is still a plan—a bad one.

The Bottom Line

Succession planning isn’t just about spreadsheets and contracts. It’s about people.

It’s about asking yourself: What happens if I’m not here tomorrow?

Steinbrenner knew the answer. Murdock didn’t.

If you run a family business, ask yourself the hard question today.

Because someday always comes.

And when it does, your business—and your legacy—deserve better than a scramble.

Here’s the playbook:

• Start early. Succession isn’t a single event—it’s a process.
• Train your team. Don’t just prepare the next leader; prepare everyone around them.
• Make it personal. Legacy isn’t about profits—it’s about what you leave behind.

The question isn’t if you’ll hand over the reins. It’s how.

So, what’s your plan?