Business Assessments

An important step in helping a family owned business achieve lasting success is in the thorough 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 business. Information is gathered through the use of various instruments developed by The Family Business Institute and through in depth one-on-one interviews. The business 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.
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+ The Family Business Health AssessmentTM

The Family Business Health AssessmentTM 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.

+ Personality Profiles

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.

+ Business Planning and 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 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.

+ Ownership Transition

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.

Maybe you don’t see answers to your specific questions here. Contact us anyway. It doesn’t cost you anything and we will give you blunt, straightforward, heartfelt advice to get you pointed in the right direction. If we can’t help you, maybe we have contacts or know someone who can.

CLICK HERE or call 877-326-2493 to schedule a FREE consultation.