In this episode of Future Fit Leadership, I sit down with Kirsten Taylor Martin from Grant Thornton to unpack one of the biggest leadership and economic shifts facing Australian business today.

Over the next 20 years, more than $3.5 trillion is expected to transition from one generation to the next in family businesses. But as Kirsten explains, succession is not just a financial process. It’s emotional, deeply personal, and far more complex than many families expect.

We discuss why succession planning has become the number one challenge facing family businesses, the growing tension between incumbent leaders and the rising generation, and why many experienced successors are still waiting well into their 40s, 50s, and beyond to take over leadership.

Kirsten shares insights from Grant Thornton’s 2025 Family Business Survey, including the clash in priorities between generations. While founders are focused on business performance, economic pressure, and protecting what they’ve built, the next generation is increasingly focused on family relationships, communication, and creating a future that works for everyone involved.

We also explore why retirement feels so confronting for many founders, the emotional weight of stepping away from a business that has shaped their identity, and the risks that emerge when families avoid difficult conversations for too long.

This is a practical and human conversation about leadership transition, legacy, governance, and the future of family business in Australia.

If you lead a family business, work in one, or expect to inherit one someday, this conversation will give you a clearer understanding of what’s at stake, and why starting early matters more than ever.

In this episode of Future Fit Leadership, I sit down with Kirsten Taylor Martin from Grant Thornton to unpack one of the biggest leadership and economic shifts facing Australian business today.
Over the next 20 years, more than $3.5 trillion is expected to transition from one generation to the next in family businesses. But as Kirsten explains, succession is not just a financial process. It&rsquo;s emotional, deeply personal, and far more complex than many families expect.
We discuss why succession planning has become the number one challenge facing family businesses, the growing tension between incumbent leaders and the rising generation, and why many experienced successors are still waiting well into their 40s, 50s, and beyond to take over leadership.
Kirsten shares insights from Grant Thornton&rsquo;s 2025 Family Business Survey, including the clash in priorities between generations. While founders are focused on business performance, economic pressure, and protecting what they&rsquo;ve built, the next generation is increasingly focused on family relationships, communication, and creating a future that works for everyone involved.
We also explore why retirement feels so confronting for many founders, the emotional weight of stepping away from a business that has shaped their identity, and the risks that emerge when families avoid difficult conversations for too long.
This is a practical and human conversation about leadership transition, legacy, governance, and the future of family business in Australia.
If you lead a family business, work in one, or expect to inherit one someday, this conversation will give you a clearer understanding of what&rsquo;s at stake, and why starting early matters more than ever.

Welcome to Future Fit Leadership a podcast for emerging and experienced leaders to learn, grow and become future fit! 

There has been a global shift in how we lead people. Traditional models are being challenged, and our workplaces are now dynamic. 


In this podcast you will hear and connect with leaders, CEO’s and change makers who will challenge the status quo and share their future ready strategies to unlock your growth. 


No matter where you are on your leadership journey this podcast will give you practical ideas and tools to help you think outside the square and become a change maker in your industry. 

Future Fit leadership is your place for bite sized learning, for time poor executives.

Contact Sadhana Smiles via email: sadhanasmiles@realchange.com.au

Or connect on LinkedIn https://www.linkedin.com/in/sasmiles/

Welcome to Future Fit Leadership a podcast for emerging and experienced leaders to learn, grow and become future fit! 
There has been a global shift in how we lead people. Traditional models are being challenged, and our workplaces are now dynamic. 
 In this podcast you will hear and connect with leaders, CEO’s and change makers who will challenge the status quo and share their future ready strategies to unlock your growth. 
 No matter where you are on your leadership journey this podcast will give you practical ideas and tools to help you think outside the square and become a change maker in your industry. 
Future Fit leadership is your place for bite sized learning, for time poor executives.
Contact Sadhana Smiles via email: <a href="mailto:sadhanasmiles@realchange.com.au">sadhanasmiles@realchange.com.au</a> 
Or connect on LinkedIn <a href="https://www.linkedin.com/in/sasmiles/">https://www.linkedin.com/in/sasmiles/</a>

Future ready leadership strategies to unlock your growth

Future Fit Leadership

'Future Fit Leadership — practical ideas for leaders on AI, the future of work, wellbeing, psychological & psychosocial safety, resilience and inclusive leadership.' 

There has been a global shift in how we lead people. Traditional models are being challenged, and our workplaces are now dynamic. 

In this podcast you will hear and connect with leaders, CEO’s and change makers who will challenge the status quo and share their future ready strategies to unlock your growth. 

No matter where you are on your leadership journey this podcast will give you practical ideas and tools to help you think outside the square and become a change maker in your industry. 

Future Fit leadership is your place for bite sized learning, for time poor executives.

Contact Sadhana Smiles via email: sadhanajsmiles@gmail.com

Or connect on LinkedIn https://www.linkedin.com/in/sasmiles/ 

We are excited to announce our partnership with Future Leadership and this podcast will sit in their Future Exchange Community where as leaders, CEO's, Directors and executives you can access content, events, live streams and connect with your peers. To join the community click on the following link, membership is free. 

https://community.futureexchange.global/groups/official

**Future Fit Leadership acknowledge the traditional custodians of the land on which we record this podcast and we pay our respect to elders - past, present and emerging. We extend that respect to Aboriginal and Torres Strait Islander people.

-- 

This is a Guide Your Light Network Production | Podcasts with Purpose

www.guideyourlightnetwork.com 

'Future Fit Leadership &mdash; practical ideas for leaders on AI, the future of work, wellbeing, psychological &amp; psychosocial safety, resilience and inclusive leadership.'&nbsp;
There has been a global shift in how we lead people. Traditional models are being challenged, and our workplaces are now dynamic.&nbsp;
In this podcast you will hear and connect with leaders, CEO&rsquo;s and change makers who will challenge the status quo and share their future ready strategies to unlock your growth.&nbsp;
No matter where you are on your leadership journey this podcast will give you practical ideas and tools to help you think outside the square and become a change maker in your industry.&nbsp;
Future Fit leadership is your place for bite sized learning, for time poor executives.
Contact Sadhana Smiles via email: <a href="mailto:sadhanajsmiles@gmail.com">sadhanajsmiles@gmail.com</a>
Or connect on LinkedIn&nbsp;<a href="https://www.linkedin.com/in/sasmiles/">https://www.linkedin.com/in/sasmiles/</a>&nbsp;
We are excited to announce our partnership with Future Leadership and this podcast will sit in their Future Exchange Community where as leaders, CEO's, Directors and executives you can access content, events, live streams and connect with your peers. To join the community click on the following link, membership is free.&nbsp;
<a href="https://community.futureexchange.global/groups/official" data-saferedirecturl="https://www.google.com/url?q=https://community.futureexchange.global/groups/official&amp;source=gmail&amp;ust=1683848489703000&amp;usg=AOvVaw2f0TqhapHFy9zLTwwgyebz">https://community.futureexchange.global/groups/official</a>
**Future Fit Leadership acknowledge the traditional custodians of the land on which we record this podcast and we pay our respect to elders - past, present and emerging. We extend that respect to Aboriginal and Torres Strait Islander people.
--&nbsp;
This is a Guide Your Light Network Production | Podcasts with Purpose
<a href="http://www.guideyourlightnetwork.com">www.guideyourlightnetwork.com</a>&nbsp;