Parents are never quite sure what time is the right time. In this series we tackle the first of seven strategic questions many family businesses struggle to answer. Of all seven this is perhaps the most common.
How will I know when my kids are ready to take over the family business?
The traditional answer is based on a level of experience gained in each operational department. But that may not be the best approach.
Sound strategic planning and execution is a much better way to address succession. In this video we go into exactly how that happens.