What is The Key to Family Business Management Succession Planning?
When it comes to family business management succession planning, and farm succession planning for that matter, there are lots of “keys” – virtually all of then claim to be the most important one. The truth is that there really is only one most important key to succession planning and it is not what you are probably thinking.
Some may say it is getting good advice, or taking advantage of planning strategies, or figuring out what others are doing successfully, or slipping through some clever business management succession loophole. Or maybe it’s having a conflict free atmosphere at the plant or developing better relationships at work.
Well, you’d be wrong.
