Every family business is an opportunity. It’s an opportunity for financial success, satisfying family relationships, multi generational growth and life long personal and professional satisfaction. You might be asking, “What family is that?!” But it’s true that many family businesses despite countless stories otherwise do manage to work together in business and live together in harmony. Which family business is yours? Answer the following brief quiz and find out! (True or False)

1. We have regular family meetings to discuss business so that it doesn’t dominate every family gathering.
2. We have a documented process for all new generations who want to join the business know what is expected of them, how to apply and how they will be evaluated.
3. We have an agreed upon family mission document which serves as a statement of belief and direction for all of us.
4. We have a well thought out and defined succession plan that ensures business continuity and protects the family’s’ financial assets.
5. We have a family advisor and family support team, which provide resources to ensure out growth as a business and harmony as a family.

How did you do?

Don’t be alarmed. Nine out of ten family businesses in America can’t answer true to all of these. But the 1% of family businesses that are thriving, enjoying multi generations, working together and growing a profitable enterprise can answer at least 2 out of three- Yes!

Banther Family Advisors will help you answer yes to all five, develop a workable strategy that fits your unique family circumstances and support you and every member of your family as you grow together.