{"id":9263,"date":"2025-10-24T08:29:10","date_gmt":"2025-10-24T12:29:10","guid":{"rendered":"https:\/\/tamariskadvisors.com\/?p=9263"},"modified":"2025-10-31T12:18:31","modified_gmt":"2025-10-31T16:18:31","slug":"why-does-succession-planning-take-so-long","status":"publish","type":"post","link":"http:\/\/108.161.142.249:8080\/TamariskAdvisors\/2025\/10\/why-does-succession-planning-take-so-long\/","title":{"rendered":"Why Does Succession Planning Take So Long?"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"9263\" class=\"elementor elementor-9263\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3d7aef0a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3d7aef0a\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-44cb7c9a\" data-id=\"44cb7c9a\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2f3b9968 elementor-widget elementor-widget-text-editor\" data-id=\"2f3b9968\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><\/p>\n<p class=\"blogContentSpace wp-block-paragraph\">Succession planning isn\u2019t something that happens overnight \u2014 even for successful, multi-generational family businesses. Starting early is critical, but understanding why it takes time can help you create a plan that protects your legacy and sets the next generation up for success.<\/p>\n<p><\/p>\n<p><\/p>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\n<p><\/p>\n<p><\/p>\n<h3 class=\"wp-block-heading blogHeadingbottom\"><strong>The Risk of No Plan <\/strong><\/h3>\n<p><\/p>\n<p><\/p>\n<p class=\"blogContentSpace wp-block-paragraph\">Before we explore the \u201cwhy,\u201d it\u2019s worth considering the alternative: having no succession plan at all. Too often, businesses are hastily passed to a grieving spouse, handed off to an unprepared child, or liquidated altogether.<\/p>\n<p class=\"blogContentSpace\">Unfortunately, this becomes the default option for many owners who delay planning until it\u2019s too late.<\/p>\n<p><\/p>\n<p><\/p>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\n<p><\/p>\n<p><\/p>\n<h3 class=\"wp-block-heading blogHeadingbottom\"><strong>Why It Takes Time <\/strong><\/h3>\n<p><\/p>\n<p><\/p>\n<p class=\"blogContentSpace wp-block-paragraph\">There are several reasons succession planning can be a lengthy process. A common one is that the next generation simply needs time \u2014 to mature, gain education, and build business experience.<\/p>\n<p class=\"blogContentSpace blogOctoberSecondSection\">As they develop, the succession plan evolves, often requiring adjustments along the way.<\/p>\n<p><\/p>\n<p><\/p>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\n<p><\/p>\n<p><\/p>\n<h3 class=\"wp-block-heading blogHeadingbottom\"><strong>A Real-World Example: The Bissell Family Business <\/strong><\/h3>\n<p><\/p>\n<p><\/p>\n<p class=\"blogContentSpace wp-block-paragraph\">A great example of this is the Bissell family business, based in my hometown of Grand Rapids, Michigan. Bissell Inc. has been making vacuums and small appliances since 1876. With annual revenues of nearly $700 million, according to ZoomInfo, the privately held company recently transitioned into fifth-generation leadership.<\/p>\n<p class=\"blogContentSpace\">In September 2025, Mark Bissell, fourth-generation chairman and CEO, stepped down into the role of executive chairman to provide strategic oversight. His son, Max Bissell (President of Global Markets), and son-in-law, Matt Kruer (Chief Investment Officer), became key members of the executive team. With a combined 22 years of experience at the company, Max and Matt represent the fifth generation.<\/p>\n<p class=\"blogContentSpace\">Robin Burns, director of the Family Business Alliance, stated in <em>Crain\u2019s Grand Rapids Business<\/em> that only 10% of their member companies are fourth generation and just 3% reach the fifth. According to Burns:<\/p>\n<p><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><\/p>\n<p class=\"wp-block-paragraph\">\u201cThose making it to the fifth generation start the engagement process with the next generation early to build a connection between the next generation and the legacy. Once family members understand the legacy, that drives their engagement.\u201d<\/p>\n<p><\/p>\n<\/blockquote>\n<p><\/p>\n<p class=\"blogContentSpace\">Interestingly, Mark Bissell told <em>Family Business Magazine<\/em> in 2013 that he had been working on a succession plan even when his children were 27, 25, and 18 \u2014 12 years before the leadership transition. At that time, he said:<\/p>\n<p><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><\/p>\n<p class=\"wp-block-paragraph\">\u201cTo have a family business continue, you have to have family in the business. You must create a level of excitement and desire while ensuring that there\u2019s the capacity and ambition to do it right. A lot has to come together.\u201d<\/p>\n<p><\/p>\n<\/blockquote>\n<p><\/p>\n<p class=\"blogContentSpace\">This example demonstrates that successful succession planning is a gradual, intentional process, requiring years of preparation, mentoring, and engagement with the next generation.<\/p>\n<p><\/p>\n<p><\/p>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\n<p><\/p>\n<p><\/p>\n<h3 class=\"wp-block-heading blogHeadingbottom\"><strong>How Much Time Do You Have? <\/strong><\/h3>\n<p><\/p>\n<p><\/p>\n<p class=\"blogContentSpace wp-block-paragraph\">Maybe you don\u2019t have 12 years to plan your succession. Do you have Five? Four? Three?<\/p>\n<p class=\"blogContentSpace\">Whatever the number, the best time to start is now. Your legacy depends on it.<\/p>\n<p class=\"blogContentSpace\">At Tamarisk Advisors, we guide business owners through the succession planning process every step of the way.<\/p>\n<p class=\"blogContentSpace\">If you\u2019re unsure where to start, we\u2019re here to help. Contact us today to begin building a plan that secures your company\u2019s future.<\/p>\n<p><\/p>\n<p>&nbsp;<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Succession planning isn\u2019t something that happens overnight \u2014 even for successful, multi-generational family businesses. Starting early is critical, but understanding why it takes time can help you create a plan that protects your legacy and sets the next generation up for success. The Risk of No Plan Before we explore the \u201cwhy,\u201d it\u2019s worth considering [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9265,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"episode_type":"audio","audio_file":"","podmotor_file_id":"","podmotor_episode_id":"","cover_image":"","cover_image_id":"","duration":"","filesize":"","filesize_raw":"","date_recorded":"","explicit":"","block":"","footnotes":"","_members_access_role":[],"_members_access_error":""},"categories":[1],"tags":[],"series":[],"class_list":["post-9263","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"episode_featured_image":"http:\/\/108.161.142.249:8080\/TamariskAdvisors\/wp-content\/uploads\/2025\/10\/october-blog.jpg","episode_player_image":"http:\/\/108.161.142.249:8080\/TamariskAdvisors\/wp-content\/uploads\/2025\/10\/october-blog.jpg","download_link":"","player_link":"","audio_player":false,"episode_data":{"playerMode":"dark","subscribeUrls":{"apple_podcasts":{"key":"apple_podcasts","url":"","label":"Apple Podcasts","class":"apple_podcasts","icon":"apple-podcasts.png"},"stitcher":{"key":"stitcher","url":"","label":"Stitcher","class":"stitcher","icon":"stitcher.png"},"google_podcasts":{"key":"google_podcasts","url":"","label":"Google Podcasts","class":"google_podcasts","icon":"google-podcasts.png"},"spotify":{"key":"spotify","url":"","label":"Spotify","class":"spotify","icon":"spotify.png"}},"rssFeedUrl":"http:\/\/108.161.142.249:8080\/TamariskAdvisors\/feed\/podcast\/tamarisk-business-advisors","embedCode":"<blockquote class=\"wp-embedded-content\" data-secret=\"LuVM5Ha58m\"><a href=\"http:\/\/108.161.142.249:8080\/TamariskAdvisors\/2025\/10\/why-does-succession-planning-take-so-long\/\">Why Does Succession Planning Take So Long?<\/a><\/blockquote><iframe sandbox=\"allow-scripts\" security=\"restricted\" src=\"http:\/\/108.161.142.249:8080\/TamariskAdvisors\/2025\/10\/why-does-succession-planning-take-so-long\/embed\/#?secret=LuVM5Ha58m\" width=\"500\" height=\"350\" title=\"&#8220;Why Does Succession Planning Take So Long?&#8221; 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