Monarchs don’t have the luxury of retiring.  They are in the job until the very moment they die.

Which means they have to have succession carefully worked out in plenty of time, if The Firm is to carry on.  That’s one reason our monarchy has a very rigid form of succession.  It makes transition easier.

As The Boss in your business, you have much more freedom.   You can choose when to go, and you can choose how you want to pass it on.  You can even turn your monarchy into a republic if that’s what you want.

If you think about it ahead of time, that is.