Everything works better with planning, and succession in a family business is no different. Survival of a multi-generational business depends on it. Illustrative of this: Mark was one of three cousins in a business whose patriarch delegated responsibilities and left for Florida (the business was in NY). The eldest was the nephew; Mark, a natural leader, was the oldest son, and the youngest son was caught in the middle of the family dynamics.

There had been no succession discussion or any leadership development up to that time. The patriarch was not involved in the day-to-day operations, but returned every 3-4 months to check-in. The business was loosing market share and profitability. Having no equity, the cousins were frustrated in their inability to affect change in the business. Tensions were high when the patriarch was there.

Successful succession (these words having the same prefix always intrigues me) in family business requires both intention and planning. The attached article, How Family-Run Businesses Should Choose Future Leaders, describes a strong foundation for having conversation about leadership succession in a family business.  While primarily addressing the business context, the conversations also applies to the vision of the family itself in future generations.