For many accommodation owners, succession planning sits firmly in the category of "one day".
One day, the children might take over. One day, the business might be sold. One day, there will be more time for travel, hobbies and family.
The challenge is that successful succession rarely happens by accident. Just ask Tony and Julie.
After more than 40 years building one of South Australia's most recognised agritourism businesses, their transition to the next generation has involved more than 15 years of planning, discussion and preparation before son Nev officially stepped into a leadership role. Their experience demonstrates that succession is not an event. It is a process.
One of the biggest lessons they've learnt is deceptively simple. Start earlier than you think.
Like many family businesses, there were times when the future seemed uncertain. Questions about who would take over, what role family members might play and how the transition would occur took years to resolve.
What initially appeared to be a straightforward handover evolved into a long-term project requiring patience, flexibility and commitment from everyone involved.
"People tend to think succession starts when they're ready to retire," Tony explained.
"The reality is it needs to start much earlier than that. The more time you give yourself, the more options you create."
That early planning proved invaluable. Before discussing ownership structures, legal agreements or financial arrangements, the family first had to answer a much bigger question.
What did they actually want the future to look like? Would the goal be to maximise the value of the business and eventually sell? Or would they focus on keeping the business within the family for future generations?
Only once everyone was aligned around a shared vision did real progress begin. It sounds obvious, but many family businesses never have these conversations until circumstances force them to.
By then, emotions, assumptions and differing expectations can make decision-making significantly harder.
For Tony and Julie, honest communication became one of the most valuable tools throughout the process.
"You can't avoid the conversations," said Nev. "They're not always easy, but avoiding them only makes things harder later."
Another critical factor in their success was recognising they couldn't do it alone.
Continue reading more from Tamie Matthews, founder of RevenYou here
