We have a strong, cohesive family
Yes
No

We have a thriving business
Yes
No

On most issues affecting the business our family is in agreement
Yes
No

On most “family issues” our family is in agreement
Yes
No

*We have a completed succession plan
Yes
No

Our senior person has publicly announced his/her exit plan
Yes
No

We have a formal, and publicly understood process for selecting a successor
Yes
No

We have developed criteria for a successor, as well as objectives for his/her guidance and performance
Yes
No

We’ve just started thinking about succession planning but haven’t done anything yet
Yes
No

*We have an outside board of directors or advisors
Yes
No

Our family members who work in the business resolve conflict fairly quickly without negatively impacting the business.
Yes
No

We have a family policy manual that sets out regulations for family members, such as rules of entry, etc
Yes
No

*In the last two years, we have sought an outside expert to give us an objective outside review of business or family situation
Yes
No

We have planned activities to help educate the next generation about the business and our culture
Yes
No

Our family meets regularly to discuss business issues
Yes
No

We have resolved all our ownership issues
Yes
No

We have proper buy-sell agreements in place
Yes
No

We have a mission statement that all employees and family members can recite
Yes
No

We have a vision statement for the family, and another for the company
Yes
No

*We have a strategic plan which includes financial objectives for earnings, return on investment, capital growth, market share and sales/earning rations (and we use it)
Yes
No

The Succession Plan supports the Strategic Plan
Yes
No

*We have job descriptions and accountability measurements for all family members in the business
Yes
No

*We have mechanisms in place to reward key non-family managers and incentivize their contributions
Yes
No

*Our business has been valued
Yes
No

We have on-going leadership training for the upcoming generation
Yes
No

We have a “Fire Drill” plan that would guide us in case something unexpected should happen to our current founder/owner
Yes
No

Estate Planning is reviewed each year
Yes
No