Tools to Assist with Family Business Conversations

As families navigate the transition from one generation to the next, they are often considering what is the proper ownership split among siblings or cousins. The tool below was generated as an initial consideration tool. This is not legal advice nor is it professional guidance on governance structure. It is a way to gain some exposure to the trade-offs that exist in any ownership plan. Clicking on different percentages will reveal the advantages and risks to each division.

Additional Tools to Facilitate Family Conversations

Once individuals have explored the questions above, Power Your Partnerships uses the tools below to facilitate productive conversations.

Family ownership conversations have multiple layers. There are layers of family relationships, family history, business exposure, and future goals. Peeling back each of these allows us to talk about the core issues at the center of this decision.

The Emergenetics Profile identifies seven Thinking and Behavior attributes. Understanding ourselves can lead to a better understanding of others. This assessment highlights the strengths of diverse perspectives.

Premier Growth, established by leading family business advisor Dennis Jaffe, Ph.D., developed two tools that are especially helpful with family businesses. The FEAT tool provides an opportunity for family members to share their perceptions and results are compiled in a comprehensive way for use in productive conversations. The Family 360 is for individuals and families to explore key areas of a healthy family and enables them to look at their strengths and opportunities for growth.

Exploring Strengths can assist individuals and groups name and claim the unique ways each person contributes to the whole.