Being a “Passer,” as we call owners with this strategy, involves a unique set of issues, such as making sure the successor children are ready to run the business by the time you want to leave. Also, Passers with some children working in the business and some who are not must figure out how to create a business exit that is fair to all of their children, without splitting up the business in an unworkable manner. Woven into these issues are family dynamics, relationships, and realities which can undermine the owner’s successful business exit.

Read our Exit Playbook section for Passers:

Passer March 2015