There is a way to build a successful, multi-generational family business that doesn’t suck every last ounce of energy out of you. It starts with giving up the notion: “I/we will figure it out (X) on our own.” That mentality leads to a long, arduous journey that often ends up in failure.

While the sheer number of older business owners looking to retire over the next year has created an urgency to begin planning efforts, Doll said the COVID-19 pandemic has brought those facing succession planning to think more about the future of the business. Suddenly many are realizing how something that can dramatically change their business dynamic and alter their plans can happen so quickly. She said many are now seeing that planning ahead is important.