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This study provides new insights into next-generation entrepreneurship in family businesses. We explore the personal needs that facilitate a successful succession experience for next-generation entrepreneurs in family businesses. The study was conducted among Indian next-generation entrepreneurs, providing a suitable context for our research. We specifically elaborate on the three main personal needs—career, psychosocial, and life stage— that shape the quality of succession experiences. Exploring these needs, we enhance the framework introduced by Handler (1992) by expanding our understanding of areas such as intrapreneurship, internal and external experiences gender experiences of succession as well as the concept of a cyclical life stage.