EB & Flow Business Podcast

Keeping it in the Family: What You Need to Know About Family Succession in Business

September 2, 2022 | Podcast

Many business owners dream of one day handing their business down to the next generation. However, what seems like a straight-forward transaction can often turn into an emotional affair that brings up difficult conversations and questions. From differences in opinion on who should be an organization’s next leader, to the discovery that family succession isn’t a viable option at all, there are many factors that can impact the success of a transition plan.

On today’s episode of the EB & Flow podcast, Eide Bailly Partner Chad Flanagan discusses how families can approach this process in a way that ensures everyone is on the same page, common challenges families face and how business owners can start now to lay the groundwork for a smooth transition.

“Going through a succession planning process, it’s really as much a strategic planning process as anything. To say what are our goals? How fast do we want to grow? How aggressive do we want to be? How much risk do we want to take?”

– Chad Flanagan, CPA, ABV | Eide Bailly Partner

Contact us if you have any questions about the topic of this episode or to inquire about any business challenges you are experiencing.

Clinton LarsonHOST

Clinton Laron
Media Relations Manager 
Eide Bailly


Chad Flanagan, CPA, ABV
Eide Bailly

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Transition & Exit Planning