By Jack Morgan

The Roman playwright Terence once said that “There are as many opinions as there are people.” Similarly with family-business succession planning, strategies vary widely. But the key to deciding if next-generation family members can lead a business hinge on a blend of skills and assertiveness, according to operators we contacted.

“To me the biggest question is the attitude, the purpose or ‘why’ behind a family member wanting to be in the role,” says Bob Hager, president and CEO of Miller’s Textile Services, Wapakoneta, OH. Hager is in the midst of a succession-planning effort with two adult children ...