Assessment Results
Thank you for completing the assessment! Below, you will find your score and readiness ranking. Keep an eye on your email for a document that will help you interpret your score and provide additional resources tailored to your readiness level.
Your Score:
21
Readiness Rank:
Low Readiness
Low Readiness
Your score indicates that your family business is at significant risk of facing challenges during a leadership transition. Several key areas of your governance, family dynamics, or strategic leadership are likely underdeveloped, increasing the possibility of disruption, misalignment, or conflict during succession.
Common Signs of Low Readiness:
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Lack of alignment among shareholders or family members regarding the future vision of the business.
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No formalized or documented succession plan, leaving roles and transitions unclear.
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Governance structures, such as a Board of Directors, are either ineffective or absent.
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Lack of clarity around roles, responsibilities, and future goals for family members working in the business.
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Senior leadership may not be preparing the next generation of leaders for future roles, leading to a skills or experience gap.
If your business falls into this category, we recommend reaching out for an assessment review. We can help you establish a comprehensive succession plan to secure the future of your business.
Medium Readiness
Your score suggests that your family business has a solid foundation in place but there are still areas that need improvement to ensure a seamless leadership transition. While you are on the right path, certain gaps could pose challenges if left unaddressed.
Common Signs of Medium Readiness:
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Shareholders and leadership may be somewhat aligned, but there are lingering differences in long-term vision that could create friction during succession.
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A succession plan may exist but lacks specificity or clear timelines. Key roles may not be fully defined or communicated.
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Your Board of Directors or governance mechanisms are present but may not be as strong or as involved as they should be.
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Family employees may have some understanding of their roles and future, but development plans and mentoring are not robust or fully implemented.
If your business is in this category, you are well-positioned to build on your current progress. An assessment review can help you fine-tune your succession strategy and address specific gaps in your readiness.
High Readiness
Your score indicates that your family business is highly prepared for a leadership transition. You have strong governance structures, clear alignment between shareholders, and well-defined roles for both family and non-family employees. This level of readiness ensures a smooth transition with minimal disruption to the business.
Common Signs of High Readiness:
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Full alignment between shareholders and leadership on the business’s long-term vision.
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A comprehensive and actionable succession plan, including identified successors and timelines.
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A strong, active Board of Directors that holds leadership accountable and guides strategic decisions.
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Family members have clear roles and future goals, with structured development plans to prepare them for leadership.
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Senior leadership is actively mentoring and developing the next generation of leaders, ensuring a deep talent pipeline for the future.
While your business is well-prepared, an assessment review can provide an external perspective to ensure that your plan remains robust and adaptable over time.