Five steps every family business should take for a successful succession

In going from one generation to the next in a family-run company, there are a lots of minefields to avoid. A big one: Don’t rule from retirement.

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Transitioning a family business to the next generation can be (and often is) a bumpy road. Unlike publicly owned companies, successions in family businesses do not have the luxury of ignoring emotions in service of stockholders.

 

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