Are any of the following true of your family business? 

(Give yourself a point for every "Yes" answer)

 

Family business spills over into every family get-together, and you cannot ever “just be a family” because the business is the main thing you talk about when you are together.

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You cannot remember why you ever decided to go into business together your spouse.

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There are no clear standards for entering and exiting the family business.

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People are chosen for leadership roles primarily because they are family, not primarily because they have the appropriate knowledge, experience, and motivation.

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The family business has become the “family welfare system.”

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Unfinished family conflict comes to work, and unfinished work conflict comes home.

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There are different standards for performance between family and non-family employees in your business.  Either business communication is not timely, attendance is sub-par, or work does not meet quality standards, but those problems are tolerated from some employees because of family ties.

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The founder has no plans to retire from the business or has retired but continues to control important aspects of the business.  

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Succeeding generations are not being trained to assume leadership or are not given the freedom to lead.

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Succession plans in the family business are not in place and/or are not clearly understood by all stakeholders.

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SCORING:

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1-3    Schedule a “heart-to-heart” conversation with your family business members before it gets worse.

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4-6    Seek consultation, and soon!         

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7-10  Your family business needs major changes if it is going to survive, and you cannot do that by                  yourself.