Succession planning is a critical aspect of any business, but it’s often an afterthought for private, family-owned home builders. This is a mistake, as not having a plan for how the company will continue without its current owner or head family member, can lead to complications and confusion. For example, if the owner’s timetable for ceding control extends beyond what their children or other relatives are comfortable with, it can create tension and uncertainty within the company. Similarly, if the owner chooses to sell the business to outsiders, it’s essential to have the company in good financial and operational shape to attract potential buyers.