For family businesses built for longevity, the question, “Who will lead next?” is critical. Yet our survey of 300 family business executives reveals a striking gap between intent and action: While 85% agree succession planning is critical to long-term success, only 57% have a CEO succession plan in place—and just 23% are actively implementing their plan.

The Adolfson & Peterson Construction director on spotting and developing possible CEO talent both inside and outside the company.

The fifth-generation owner and family president of Laird Norton Company on finding the CEO of your company’s future.

For private companies orchestrating a transfer or sale, fortune doesn’t favor the bold. It favors the prepared. A successful deal hinges on planning and foresight long before negotiations begin. To understand how private company leaders are positioning their businesses for that moment, we asked 100 executives about their upcoming timing, priorities, and pressure points.