Business Assessments
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An important step in helping a family or closely held business achieve breakthrough success is in the determination of where the organization is right now. The Family Business Institute begins this process through an assessment of both the family’s interactions with each other and with the family business. Information is gathered through the use of various instruments developed by the Family Business Institute and through one-on-one in depth interviews. The assessment provides a diagnosis of the condition of the business and family similar to a medical doctor’s physical examination. Without an accurate diagnosis, a sound prescription for producing business, family, and individual health is not possible.
Specific Services

Family Business Health Assessment
The Family Business Health Assessment is a process that analyses 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 ascertains the perceptions of family and non-family members regarding morale, efficiency, leadership, and pride in the family and family business.

Personality Profiles
The Family Business Institute utilizes both the Myers-Briggs Type Indicator (MBTI) and FIRO-B personality assessment tools. Using these two tools (and others if 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 helps in improving interpersonal relations.

Business Planning & Management
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.

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

Ownership Transition & Planning
Most family and closely held business owners have made a pass – often an expensive pass – at estate planning. In spite of usually sound documentation, most planning is not “family business smart” estate planning. Our first book, You Don’t Have To Die To Win, focused a great deal on the lack of family smart estate plans and what to do about them.

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 approximately 23 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 the top professionals around the nation.

The Family Business Institute Difference
Our commitment to helping you achieve breakthrough success is absolute. Drawing upon our unparalleled experience in working with family enterprises across virtually all industries and business functions, we educate our clients about the need to utilize a comprehensive and integrated approach for the benefit of their family business system. The Family Business Institute differentiates itself by addressing not only the typical financial side of the family business triangle, but also the other two sides which deal with operational and/or interpersonal issues.

Ready to Learn More?
In addition to the services listed above, the Family Business Institute can also assist you with many more services in the area of Business Assessment. For more information, contact us at (877) 326-2493.