Ever since I began my bachelor's in 2016, I always had the same goal in mind: I wanted to become an entrepreneur and start my own company from the get-go. I wanted to follow in the footsteps of my father and grandfather - as they both successfully launched and scaled a business.

It became part of my story ever since - deeply ingrained into my self-perception and identity. Whenever someone asked me about my future plans and goals, I told them the story of how entrepreneurship was deeply ingrained in my family‘s history, how I‘m now seeking opportunities and tools to develop my own skill set in this area and how - once I find an idea that inspires and motivates me - I will kick off my own entrepreneurial venture.

For the past years, it has never been an option for me to join my father‘s company and perhaps take it over in the future. As my father, Frank Blome, claimed, he never wanted to put me in a feathered nest and I wanted to pursue my own path as well. Therefore, it was to some extent surprising when he told me that his opinion changed as he pitched the idea of succeeding him as CEO of ProjectWizards. What‘s even more surprising is that I‘m actually considering to pursue this path.

So what has changed?

To make it brief: Nothing and everything. Wow, this has got to be the most buzzwordy answer possible, but let me explain. Nothing has changed because I‘ve still pursued the same management-centric academic path that I started in 2016. I finished my bachelor's at ISM in 2019 and have just recently finalized my masters at HHL Leipzig Graduate School of Management. At all times, my studies focused on general management with specializations in strategy, marketing and entrepreneurship. At the same time, my whole perception of effective learning environments has shifted: From soaking up knowledge in rather theoretical environments to taking ownership and actively seeking opportunities in practical settings that are often galaxies out of my comfort zone. Especially leading the Accelerate@HHL conference at HHL has taught me this lesson.

Due to this new understanding, I am always looking for different learning possibilities - such as the succession plan my father laid out for me in the Summer of 2022. We sat down in a beer garden in our hometown Melle when he showed me a mind map (designed in Merlin Project of course) with all facets that are affected by the succession: team structure, financials, product portfolio and strategy as well as initial thoughts on the transition period. Notably, given ProjectWizards' startup-style organization, the initial friction, I had in my mind, with bridging entrepreneurship and established businesses has already been diminished by the end of our first conversation.

I was still doubtful but wanted to - out of respect for my father and what he‘s built up - at least give it some thought. My biggest fear was - and still is - the effect on our family. Will we be able to work together whilst maintaining a healthy balance between work and private life? Or will it - in the worst case - tear our family apart? Will my father be able to hand over the reign completely or will there be no closure and he steers in the background after I’ve taken over the lead? The latter has already been a big factor in the succession at my grandfather‘s company, therefore I was especially cautious about this point. I also had doubts about my own qualifications: Especially young people know this feeling, the omnipresent „imposter syndrome“, too well: Am I good enough for the position?

I talked to friends and professionals with knowledge in the field of company succession. The support of my friends as well as the HHL spirit truly helped me to come to a decision. Thanks to Dr. Maximilian Schreiter for taking the time and share your thoughts with me. Several topics were on the table that made the decision less emotional and more rational. I want to highlight two vital questions:

Which skillset do I need to acquire?

One of the first tasks in a succession is to critically reflect one’s own skillset and if there‘s a fit with the required skills at the particular company. For me personally, a general understanding of the technical perspective is absolute key to be a successful CEO in the software industry (Duh!). It allows for a deeper understanding of the product and the ability to assess the team’s productivity, estimate project timelines as well as hire great talent. During the transition period, this will be one of the focus areas.

What is necessary to allow for a smooth transition?

A structured transition that is designed for several years where the old CEO starts as a mentor in the first half and acts as background supporter in the second half while the new CEO takes over the lead. Once the transition period is done, however, a clear cut is vital. All this has to be agreed upon before the succession period begins.

We also talked about topics ranging from shareholding structures to the importance of external experience. The talks gave me a good feeling that the conditions for a smooth transition are given in our case.

I said yes.

Yes to starting as Executive Assistant & Marketing Manager for the first year - when both sides agree that there‘s a good fit - start with the real succession period after year 1. Even though there are still some risks in plain sight (and possibly many more that we haven‘t thought of yet), I am motivated to start this journey. I have trust in the ProjectWizards GmbH team that they will give me a fair chance to succeed in this role and I can‘t wait to earn their trust. I have trust that this opportunity will not tear our family apart but rather tie us together even further. I have trust in myself to pursue this path and be able to “fill“ the footsteps of my father in the future.

Today is my first official day at ProjectWizards. For this pivotal period, I have set myself the goal of being an attentive observant. I want to learn all about the inner workings of the company and get to know the backstory of everyone in the team. However, I want to not only talk but also act on it. Therefore, transparency and a candid feedback culture are a necessity and I will do my best to both give (transparency + feedback) as well as seek it in every circumstance. The team behind ProjectWizards has been the single most crucial factor in the company’s success. I want to understand the strengths of everybody and then - once I understand the processes and culture - make use of them to accelerate ProjectWizards to new heights.

No pressure of course.