Succession Planning and the “Right Time” Myth

"I probably should do something about succession planning, but the timing just doesn't seem to be right.  There's a wedding coming up, we've got another grandchild on the way, and none of our children seem to want to have anything to do with the business.  Maybe I should just sell it." That's a distilled version of a conversation I recently overheard in an airport.  I was minding my own business, and I heard those magic few words that immediately drew me in:  succession planning.  What really struck me was how creative and rationalizing we can be when faced with actions we don't really want to take. To read the end of this blog, click here.