In organizations where the founder still holds significant power and influence, board members and executives may be reluctant to even think about succession planning, let alone open up a candid conversation on the topic.

But one way or another, succession will have to happen eventually, and it’s likely to go a lot better if the CEO is involved from the outset in crafting and implementing the plan.

While founders add the most value as CEOs in the early years of a firm’s development, by the six-year mark, they become more valuable in non-CEO positions, such as CTO or a board seat. Of course, six years is just an average — the optimal timing will vary substantially based on t...