How to Earn Employees' Respect

Reading my favorite site, I saw this interesting question presented to David G. Javitch, Ph.D., an organizational psychologist and president of an organization consulting firm. Here's the question posted on Entrepreneurs.com:

Q: I recently took over the family business from my father. What do I need to do to earn the respect of employees who've been with the company for years--employees who used to be my co-workers in the company?

What would advice would you give the owner?

Javitch suggests several ways for the owner to build credibility and a power base. Read his response and advice on earning respect.