How to Execute a Smooth Succession

In previous articles on succession planning, I talked about the major roadblocks that keep CEOs of family-owned businesses from overseeing a smooth transition of power, including lack of trust, clash of visions and the inability to let go.
A smooth succession requires, first and foremost, the ability to be honest with yourself about your goals and desires for both your business and your life after retirement. Once you have a clear and honest vision established, it's time to implement a detailed plan and tactics that will help succession go as smoothly as possible. What does that look like? Here are a few examples.