Assessment of the Next Generation

Learn how ready you are for the opportunity that awaits you. As a member of the next generation, you have to manage three life-long relationships. Want to see how you ready you are?

How at Risk are You?

1.) My family's business was started by:
My parents
Grandparents
Great grandparents
Great great grandparents
Even before them!
 
2.) I have worked for some other business besides my family's
Never
For one year or less
For 1-2 years
For 3-4 years
For over 4 years
 
3.) Regarding entering and working with my family's business, my family's communication has left me
Clueless
Unclear about what they expect.
With only a general idea of what they expect.
Very clear about their expectations.
A written job description, they're very open to talk.
 
4.) Regarding the family wealth, my family's communication has left me
Clueless
Unclear
With only a general idea of what to expect.
Very clear about their expectations.
Understanding their estate plan, including amounts, timing, and any restrictions related to any transfer.
 
5.) The people in my life that I seek out to give me clear and objective feedback are:
Primarily my parents
My parents and other family members
Family and friends (including a boy or girl friend)
Primarily, family and friends (including a boy or girl friend), but others as well.
People such as teachers, bosses, coaches and other folks besides my family and friends.
 
6.) Regarding my career path
I haven't really thought too much about it.
I think I will just wait and see what happens.
I am probably going to follow the advice of my parents.
I have done some self assessment and career planning.
I have written goals and am able to assess a career path (in or outside of my family business).
 
7.) If you are working with your family's business, then have you ever addressed
What you would make at most companies?
If you want to leave the family business?
If you had written performance reviews by a non family supervisor?
At least two of the above?
All of the above?
 
8.) My education (or professional development) address the issues I have as a member of the next generation of a family business:
Not at all.
A little bit
Includes some stuff.
A fair amount.
Is a major focus.
 
9.) Regarding taking responsibility for my happiness and my future, I have
Not really thought about it.
Look to my parents to solve most of my problems.
Gotten better, but still struggle with this.
For the most part, take responsibility.
I look to others for support, feedback, and advice, but feel that I take responsibility.
 
10.) Communication in my family
Is closed off about many topics.
Is open and closed.
Is pretty open about most topics, including the family business.
Is open, but we just haven't discussed some issues in depth yet.
Is open and has been in-depth about most issues, including those related to the family business.