The Time is Now to Talk About Succession

Liz Breiter
November 14, 2023

Thinking about succession planning may instigate feelings of angst within a founder or family in business. A founder may wonder if the next leader will have the same amount of passion, dedication, and work-ethic to build on their business and vision – they may wonder, does a unicorn successor exist? A family may ponder how to broach this topic with their loved ones – they may wonder, is it possible to discuss succession without causing an unintentional rift in the family? At Wingspan, we understand what drives founders and families to avoid these discussions and believe that with the proper thought and a robust governance construct, succession conversations and decisions can be designed to fit each founder and family’s unique needs.  

Key Drivers: Why Do We Not Discuss Succession? 

At Wingspan, we recognize that there is nuance across families in their desire to discuss succession. We also firmly believe that building a thoughtful succession plan is integral to the success of the family, the business, and their legacy. 

Recommendations: How Can Your Family Discuss Succession? 

Defining and communicating your family’s vision for succession, creating policies before they are personal, and creating a robust succession plan enables keeping your family and business intact…for the long term. 

Want more content? Read more Wingspan Perspectives.

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About Liz Breiter

Liz’s experience growing up in a founder-family and working at breakthrough technology companies sparked her passion for creating intergenerational advancement. She graduated with honors from Harvard Business School and USC.