We are excited to introduce a new Family Business Diagnostic, designed to help key family members objectively evaluate various aspects of a family business. The diagnostic is NOT intended to provide definitive answers, but rather initiate an open dialogue to improve the long-term success of the company.
Using a scoring system of -5 to +5, the diagnostic guides you through several specific questions regarding the operations and attributes of your family business. The answers to these questions then drive the results for nine key success factors, including items such as maximizing your business value, succession planning, and leadership development.
A heatmap is used to indicate which factors are areas for attention. Red signals that remediation of the issue is needed; yellow indicates there are some early warning signs; and green means that the key success factor is under control. This color-coded technique enables you to easily pinpoint the issues that require the most attention.
The Family Business Diagnostic can be used by a single leader, or it has a multiple user format that accepts input from several contributors and provides average ratings across the group. The multiple user format can be a great way to uncover different perceptions that may exist within your family organization.
Check out the Family Business Diagnostic
I would be interested in hearing your thoughts on how useful the diagnostic is for your business. To provide feedback, or for specific questions or assistance with completing the diagnostic, please don’t hesitate to contact me by email or phone.
Steven E. Staugaitis is a director at Kreischer Miller and a specialist for the Center for Private Company Excellence. Contact him at Email or 215.441.4600.
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