Successful businesses have only three options when the current senior generation of owners step aside.

They can be sold (an IPO, a planned sale of assets, or a forced liquidation), they can merge with another company (competitor, supplier, etc.), or they can succeed to the next generation of the existing owners family or extended (such as employees and managers) family.

The stumbling blocks to successful ownership succession and business transition are most often relational - the owners can't of won't talk about it. There are expectations of the owners, successors, and employees to deal with. The feelings of entitlement by some and guilt by others. Every roadblock is formed based on past experiences of one kind or another.

A Business Owner Asks, "How Do We Get to Disney World?"
Upon Entering His Work Area He Said, "Can't Talk Here"
The Successor's Dad Told Me, "You're the Expert, You Fire Him"
I Wondered Why He Said, "No Matter What, Don't Look Toward the House"
Why is "Not With MY Money You're Not" Dad's Favorite Reaction?
Peer Groups Help You Develop Your Effectiveness in Business