Transition Preparation Assessment

 

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The Transition Preparation Assessment (TPA) is a fully automated online assessment designed to assist family business owners navigate through a successful business transition.  It combines the latest conceptual models on family business transition with secure technology to enable the delivery of meaningful information.  The TPA systematizes information into a customized report that identifies several important variables that family business owners can address prior to engaging in a transition.  The tool is ideal for family business owners (or advisors who work with family business owners) who are considering an eventual transition.      

The tool was developed by JSA Advising, LLC., a firm dedicated to supporting family business owners and their advisors as they move through transition. 

What It Is

  • A quick and useful online assessment tool that provides family business owners and their advisors a clear and comprehensive framework to initiate important conversations around business transition. 
  • Easy for business owners to complete.  The TPA takes around 15-25 minutes to complete.  
  • A tool that can enhance knowledge and understanding of the entire family business system.

What It Does

  • The TPA identifies the current stage in the business lifecycle.
  • It addresses the value of the business (financial, infrastructure, and customer/market share) from an ownership perspective that can enhance dialog between the owner and trusted advisor.
  • It highlights the owner’s vision for transition (sell, gift, etc.).
  • It analyzes the readiness to change on three primary domains within a family business (ownership, business, and family domains).

Why It’s Valuable

  • It educates the owner on the complexity of family business transitions while gathering important information.
  • The results are sent to advisor to review with client. Thus enhancing and deepening the advisor’s relationship with the client.
  • It can be a great tool to begin strategic conversations about business transitions with owners.
  • Starting the preparation for transition process earlier and with more information can enhance success and reduce the current 70% failure rate for family business transitions.
  • It provides a holistic, three-domain family business framework that allows advisors to get a better picture of how to best support their clients.

How It Works

  • The advisor sends JSA Advising (JSchatz@JSAadvising.com) the Name and Email of the client they would like to complete the TPA. 
  • Within 1 to 2 business days, JSA Advising will send out a TPA email with instructions and a link to the business owner (the advisor will be copied on this email).
  • The business owner clicks on the link and follows the instructions to complete the convenient 15-25 minute assessment in the privacy of their own home or office.
  • JSA Advising then analyzes the information and embeds it into a customized PDF report. 
  • The report is emailed to the advisor who submitted the request.
  • The advisor can review the information with a client to supplement their own services and products.
  • If additional resources are required, JSA Advising can offer a list of service providers who can support the entire family business system.