Many family businesses approach succession planning with informal practices — think DIY hand-offs or vague ‘when I retire…’ conversations. Without intentional planning, even the tightest-knit family can get blindsided by leadership gaps, misaligned skills, or hurt feelings. A truly strong succession plan identifies successors not by bloodline alone, develops them with clear goals, and holds them (yes, even family!) to measurable performance standards.

Read the full contribution from Yvonne Kinney, PhD, Business Psychologist at Integrated Consulting.