Business Assessments

The Family Business Health Assessment^TM is a process that analyzes the various elements of business and family health including: ownership fairness and security, roles and responsibilities, strategy and philosophy, family and team behaviors, and communications. It also detects the perceptions of family and non-family members regarding morale, efficiency, leadership, and pride in the family and family business.

The Family Business Institute utilizes both the Myers-Briggs Type Indicator (MBTI) and FIRO-B personality assessment instruments. Using these tools – and others as necessary – allows the Family Business Institute to more fully understand personality preferences of members of the family business. They allow everyone to better identify why communications or personality conflicts can arise and help improve interpersonal relations.

The Family Business Institute analyzes virtually all areas of the business. The analysis begins with the business’ Mission and Vision and carries through Organizational Effectiveness, Leadership Planning, Strategic/Business Planning, Hiring the Right People, Operations, Sales and Marketing, and Management Controls. The work product of the analysis is a documented understanding of what the business does well and what is lacking.

The Family Business Institute uses a series of financial analysis tools that enable us to see financial performance over several years compared to other firms in the same business sector. Business solvency, efficiency, profitability, cash, and working capital positions are analyzed and compared to best industry performers enabling our consultants to make informed, substantive recommendations for improving financial performance.

Most family owned business estate planning is fairly sound from technical and tax avoidance perspectives; however, they leave a great deal to be desired in terms of family and business friendliness. In addition, most closely held businesses which have multiple shareholders have buy-sell agreements (often called stock restriction agreements). Most buy-sell documents address the catastrophic event of death of a shareholder, but they often fail to address disability, disenchantment, and over 30 other important considerations. The work of The Family Business Institute augments the work done by attorneys and planners by distilling the knowledge we’ve gained in over 200 years of combined business planning with the best practices we’ve learned from top professionals around the nation.