Family businesses are crucial to our economy, and one of the essential components of their longevity is proactive development of rising family business leaders. However, family businesses face unique challenges in this area. Being able to assess and develop next gen and rising leaders in the organization– both family and non-family– is often hindered by complex family dynamics, communication issues and lack of clarity around next gen capabilities.

As the leader in a family business, you already know that succession planning or eventual transition is somewhere on your horizon. There’s no getting around it. It may be looming directly in front of you. It may be somewhere far enough down the road that you haven’t given it much thought. If either are true for you, keep reading.