Family Business Assessment Tool


The purpose of the assessment tool is to help you determine if you need to develop a succession plan. Your responses to the assessment tool are for your information only. When you exit the tool, your responses will be deleted. No one will have access to your responses; including the Lovins Group.

Rate you and your company's effectiveness in each area below.  A 'Yes' answer is valued at 5 points. A 'Mostly' is valued at 3 points, and a 'No' answer is worth 0 points.

Yes Mostly
No
1) We have a vision of the future that is agreeable to everyone, is articulated and written down.
2) We have a formalized  plan of succession with a timeline.
3) We have identified who the successors are, what training is needed, how they will be trained, and how we will know when they are ready.
4) We have established a system of support and accountability for the successor(s) to ensure continuation of effective management.
5)  Our senior generation is confident that their successors have solid personal relationships and that they get along well enough to handle the challenges of running a business together.
6) When it comes to the transfer of ownership, we have well thought-out plans, in consultation with competent legal and financial advisors, to best fit the needs of both generations and the health of the business.
7) Our senior generation has a plan in place to exit the business and entrust its stewardship to the next generation.
8)  Our senior generation has a compelling vision for a meaningful life after succession and is enthusiastic about the next step.
9) Our succession advisors' clearly understand that business decisions impact our life as a family and vice versa.  Their approach to planning is comprehensive and holistic and they provide an objective, non-judging perspective of the business and all of our key players.
10)  As a team, we have the ability to communicate effectively.  We speak 'the same language" we are able to see eye-to-eye on important issues, and we know how to deal with disagreements productively.  We understand who the other person is, what their position is, and how they feel when it comes to our succession plan.
       
 

Your score:

 
A) 36-50 points:  You are doing a lot right.  We probably have no reason to talk.  We wish you continued success with your future plans for succession.  Feel free to contact us, even if only to confirm and verify the track you are on.
 
B) 21-35 points:  You are doing better than most companies.  We feel strongly that The Lovins Group can make a big difference in your succession plans, and we would like to know more.   Contact us for a confidential telephone conversation so all of us can determine if a face-to-face meeting is advisable.
 
C) Less than 20 points:  Based on our 20 years of experience, this is very common.  Your succession plan or it's implementation may be in trouble.

Call us now and set up a private, no-obligation, in-person visit with one of our team members.  You may not have as much time as you think.
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