FAMILY BUSINESS SUCCESSION ASSESSMENT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 What is your role in the business?What is your role in this business?*OwnerHeir or Successor I had a conversation with my successor about handing over of the business to him/her.*We did not have a specific conversation.We briefly spoke about it.We had a detailed conversation about this.I had a conversation with the owner about handing over the business to me.*We did not have a specific conversation but it is expected.We spoke briefly about it.We had a detailed conversation about this. My successor agreed to take over the business.*My successor specifically told me that he/she was interested in and in agreement with taking over the business to me.My successor did not specifically agree or decline but he/she knows what is expected of him/her.My successor did not specifically agree or decline and he/she has not shown much interested in taking over the business.My successor specifically agreed to take over but he/she has not shown much interest in taking over the business.I agreed that I would take over the business.*I told the owner that I was interest in and in agreement with taking over the business.Everyone expects me to take over; I am going along with it but I have not really decided.I am not interested in taking over the business; I did not agree or decline.I am not interested in taking over the business but I agreed to do it. When I think of the future of the business…*Good growth and success could be achieved by executing the current business strategy.With a little change, the business could really expand and grow.The business could do with a major change in strategy.When I think of my future career goals…*My future goals could be fulfilled in this business exactly as it is.With a little evolution, the business could eventually fulfill my future career goals.The business is not in line with my future career goals. We discussed a plan to prepare my successor to take over.*No preparation plan was discussed.No plan is necessary; my successor has worked enough in the business to take over and run it.A preparation plan was discussed.We discussed a plan to prepare me to take over.*No plan was discussed.No plan is necessary; I have seen enough of the operations to run the business.A preparation plan was discussed. In our plan to prepare my successor to take over from me...*My successor will start spending more time in the business shadowing me.My successor needs formal training on topics related to the business.My successor will work in key areas of the business to get experience and exposure.My successor already knows enough about the operations. He/she may work on increasing experience/exposure in 1-2 areas.In our plan to prepare me to take over...*I will start spending more time in the business shadowing the current owner.I will receive formal training on relevant topics (e.g. go to school, get certified)There is a plan to have me work in key areas of the business.I already know enough about the operations; I may work on increasing experience/exposure in 1-2 areas Regarding time spent working in the business, my successor works...*More time in the business than I do.At least 85% of the time that I spend in the business.At least 50% of the time that I spend in the business.Less than 50% of the time that I spend in the business.Regarding time spent working in the business, I currently work...*More time in the business than the current owner.At least 85% of the time that the current owner works.At least 50% of the time that the current owner works.Less than 50% of the time that the current owner works. There is an established Management Team in place in the business.*Yes. They have worked together for at least 5 yrsYes. They have worked together < 5 yrsNo. There is no Management Team.There is an established Management Team in place in the business.*Yes. They have worked together for at least 3 yrsYes. They have worked together < 3 yrsNo. There is no management team. Regarding our biggest customers, my successor...*Has a working relationship with most of them.Has a working relationship with a few of them.Knows who they are but does not currently have a working relationship with them.Does not know who they are.Regarding our biggest customers, I...*Have a working relationship with most of them.Have a working relationship with a few of them.Know who they are but I do not currently have a working relationship with them.Do not know who they are. Regarding the business' key suppliers, my successor...*Has a working relationship with most of them.Has a working relationship with a few of them.Knows who they are but does not currently have a working relationship with them.Does not know who they are.Regarding the key suppliers to the business, I...*Have a working relationship with most of them.Have a working relationship with a few of them.Know who they are but I do not currently have a working relationship with them.Do not know who they are. Our company is in the following industry:*Manufacturing and/ or DistributionRetailServices As a business, our competitive advantage is:*Special or proprietary product(s)Good customer relationshipsEfficient cost effective operationsWe do not have a specific competitive advantageAs a business, our competitive advantage is:*Special or proprietary product(s)Good customer relationshipsEfficient cost effective operationsWe do not have a specific competitive advantage Regarding our employees, my successor...*Knows what most of our employees do and can identify our key employeesDoes not know who our key employees areMay not know what most of our employees doHas a working relationship with many of our key employeesWhen it comes to our employees, I*Know what most of them do and can identify our key employeesDo not know who our key employees areAm not sure what most of our employees doHave a working relationship with many of our key employees Regarding our Business Vision and Strategy*There is a clear business vision and strategy that my successor is aligned withThere is no established vision or strategyThere is a clear business vision and strategy that may need to be adjustedRegarding our Business' vision and strategy*There is a clear business vision and strategy that I am aligned withThere is no established vision or strategyThere is a clear business vision and strategy that would need to be adjusted How long has the business been in operation*0 - 10 years11 - 20 years21 - 30 years> 30 yearsHow long has the business been in operation*0 - 10 years11 - 20 years21 - 30 years> 30 years Have you been in charge of the business since it started?*YesNoHas the existing owner been in charge of the business since it started?*YesNo I will pass the business to my successor in:*No timeline has been agreed< 5 yrs5 - 10 yrs> 10 yrsI will fully take over the business in:*No timeline has been agreed< 5 yrs5 - 10 yrs> 10 yrs I have concrete plans for my time after the end of the transition*YesNo Q1 AnswerQ1 Answer (S)Q2 AnswerQ2 Answer (S)Q3 AnswerQ3 Answer (S)Q4 AnswerQ4 Answer (S)Q5 AnswerQ5 Answer (S)Q6 AnswerQ6 Answer (S)Q7 AnswerQ7 Answer (S)Q8 AnswerQ8 Answer (S)Q9 AnswerQ9 Answer (S)Q10 AnswerQ10 Answer (S)Q11 AnswerQ11 Answer (S)Q12 AnswerQ12 Answer (S)Q13 AnswerQ13 Answer (S)Q14 AnswerQ14 Answer (S)Q15 AnswerQ15 Answer (S)Q16 AnswerQ16 Answer (S)Q17 AnswerQ1 ResponseQ2 ResponseQ3 ResponseQ4 ResponseQ5 ResponseQ6 ResponseQ7 ResponseQ8 ResponseQ9 ResponseQ10 ResponseQ11 ResponseQ12 ResponseQ13 ResponseQ14 ResponseQ15 ResponseQ16 ResponseQ17 ResponseSuccession StatusCommunication StatusPreparation StatusTransition StatusGeneral SummaryReport Intro SummaryReport Intro CommunicationReport Intro PreparationReport Intro TransitionReport Outro ClosingReport Outro CommunicationReport Outro PreparationReport Outro TransitionCommunication Score (I)Communication Score (S)Preparation Score (I)Preparation Score (S)Transition Score (I)Transition Score (S)SS Score (I)SS Score (S)How would you like your Succession Strength Assessment results?Detailed Report. I want to know my strengths, weaknesses and recommendations for improvement. Your Succession Strength Asessment results are ready! Enter your contact information below to receive your detailed Succession Strength Assessment report. Learn your strengths, weaknesses and get recommendations to improve your succession journey. Name* First Last Email* *By submitting this form, you agree to receive valuable emails from Succession Strength. Your privacy is very important to us and we do not share any information with 3rd party sites or affiliate companies. You can opt-out at any time.
