Confidential Assessment for Family Business Success
The purpose of this assessment is to efficiently obtain information about the business and the family members involved. All answers are confidential. All family members, owners, and non-family directors should fill this out. Leave the question blank if it is not applicable to you.
First name
Last name
Position
Number of years at the firm
Role at the firm (what do you do)?
Company Values
Is there complete agreement and buy-in of the mission/vision/values of the firm? Please discuss in detail as needed.
In your view, is the company meeting and exemplifying the mission/vision/values of the firm?
List 3-5 values shared within the firm with a short description of each.
What is more important to you: family or business?
Write any other comments you have about the VALUES of your firm.
Ownership Philosophy
Can non-family members be owners? Choose one Yes No Not sure
Can spouses be owners? Choose one Yes No Not sure
Is there a successor development plan in place? Choose one Yes No Not sure
Is there a certain level of training or education needed to be an owner?
What does it take to be terminated from the firm?
How many hours do you work per week on average?
Any other comments about OWNERSHIP PHILOSOPHY?
Decision-Making/Governance
How are business decisions made? Describe the process.
Are decisions made by voting? If so do the decisions need to be unanimous or a simple majority?
Does the majority stockholder make most of the important decisions? Choose one Yes No Not sure
Do you have a board of advisors or directors? If yes, how many insiders (employee/owners) vs outsiders (outside the organization and independent) are on the board?
Do you have a family constitution? Choose one Yes No Not sure
Do you have a family council to discuss areas of importance to the family regarding the business? Choose one Yes No Not sure
Do you have any other comments about DECISION-MAKING/GOVERNANCE you'd like to share?
Approach to Growth and Profit
Are you satisfied with your compensation? Choose one Yes No
Do you have certain expectations for profit? If so, please explain them below:
Do you expect distributions as owners? Choose one Yes No
Do you expect profits to be invested back into the business? Choose one Yes No
What is your view of the future potential of the firm?
List the percentage increase in gross sales you believe is possible/reasonable 10 years from now.
Describe your top three areas of opportunity where you personally could improve (which would benefit the business.
Describe three areas of improvement you believe are most important for the business to be more productive and efficient.
Describe three significant opportunities for business growth.
If you could change one thing at the business, what would would it be?
Any other comments about your approach to GROWTH and PROFIT you'd like to share?
Communication and Conflict
Do you have family meetings to discuss business? If yes, how?
Do you meet regularly as a family (socially, without talking business)? How often?
Do you believe there is effective and transparent communication at the business from the ownership/leadership team? Choose one option 1 option 2 option 3
Rate the degree of effective communication on a scale of 1-10 with 10 (fully effective) to 1 (not effective at all).
Do you have procedures or policies to mitigate/prevent conflict?
If conflict is present, what type of conflict exists? Disagreement over the direction of the firm? Disagreement over the best way to do a task? Interpersonal conflict? Explain below.
On a scale of 1-10 with 10 being the most and 1 being the least, rate the degree to which conflict is affecting business.
Is there anything else you'd like to mention about COMMUNICATION and CONFLICT? Please share it below.
Future Plans (10-20 years from now)
How do you want the incumbent (in control now) generation to be living?
How do you want the next generation to be living?
Anything else you want to mention about FUTURE PLANS? Please describe below.
Legacy
Why do we continue to own the business?
Are you trying to create something that will be here in 100 years?
Is it your goal to pass the business on to your children? Choose one Yes No Not sure
Name things the company does exceedingly well of which you are proud.
Do you feel a sense of pride in being a member of this business? Can you think of anything specifically? Describe below.
Anthing else you'd like to mention about LEGACY? Please share below.
Faith
Are you a Christian? If yes, how many years?
Do you include prayer in your daily life? Choose one Yes No
Do you pray for the business and at the business? Choose one Yes No
Do you believe prayer changes things? If so, explain.
When faced with a challenge at the business, do you first go to prayer or try to solve the problem on your own? Explain.
Have you ever felt the prompting of the Holy Spirit? What did you do?
If you are a Christian, describe what led you to become a Christian.
Anything else you'd like to mention about FAITH and your business? Please explain below.
Final Thoughts
Please discuss any areas of opportunity for improvement or serious challenges that you've not discussed above. Please provide details below.
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