When it comes to family business succession planning, one thing is certain: Most family business leaders don’t do it, they don’t do it well, or they wait to do it until it’s too late. While the CEO longevity in non‑family businesses is an average of six years, for a family owned businesses CEOs tend to stay for 20-25 years.

Sure, that long tenure contributes to leadership stability and consistency, but it can also fuel flat growth, narrow business focus, and decreasing leadership drive. Additionally, when the CEO and other top-level executive family members do not step aside in a timely … Read the rest