I often hear it said with conviction that the reason entrepreneur-founders of family businesses don’t turn over the business to the next generation or even institute a process for succession is because they can’t give up control.

Certainly this occurs in some situations, but it is inaccurate to apply this characterization as a general rule. Other factors may be at play. The founder may have no plans for a life after relinquishing the role in the family business, or may not have built a life outside the business. It is also possible that the founder has not adequately educated business stakeholders, such as key employees, clients, suppliers and colleagues about the transition, and consequently is concerned about the potential repercussions.

All family businesses are unique; and it is important to understand the dynamics of each individually before reaching conclusions and recommending approaches to support them.