When you undergo the family diagnosis, you are able to find out where your family business is in the family cycle. By understanding where your family enterprise stands, you cannot only identify the challenges of today and tomorrow, but also help the family chart its path to greater success.
You have successfully diagnosed your family business in the family cycle. Where are you in the family cycle?
Normally, the size of the family that owns the business increases over generations. A sole owner founds the business, the siblings continue and the cousins develop it further to a family dynasty, if they do not fail (Buddenbrook-Syndrome). With the number of family owners, complexity and diversity increases, however emotional attachment decreases and the relevance of dividends becomes more important.
The information contained herein (also the challenges and possible solutions derived after the quiz) is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.