How Premier Growth’s assessment tools provide the clarity family enterprises need to thrive across generations
Every family business owner has felt it – that nagging sense that something isn’t quite right in the family dynamic, or conversely, the confidence that things are going well but uncertainty about what specific strengths to build upon. Too often, these feelings remain just that: feelings. Intuition, while valuable, can only take a family enterprise so far.
In our work we’ve witnessed firsthand how data-driven assessments can transform vague concerns into actionable insights and turn hidden strengths into competitive advantages. Today, we want to share how we use Premier Growth’s two powerful learning tools – the Family Enterprise Assessment Tool (FEAT) and Family 360 – to help business-owning families see their situation with unprecedented clarity.
The Challenge of Family Enterprise Complexity
Family businesses operate at the intersection of multiple complex systems. There’s the business itself, with its operational challenges and market pressures. There’s the family, with its relationships, values, and generational differences. And there’s the ownership structure, with its governance needs and succession considerations.
When these systems aren’t aligned – or when family members have different perceptions of how well they’re working – conflict and missed opportunities inevitably follow. The challenge is that family members often operate from their own limited perspective, seeing only part of the bigger picture.
This is where objective assessment becomes invaluable. Don’t worry! These aren’t tests you pass or fail. Premier Growth trainer Stacey Conrad emphasizes, “There is no ‘right’ or ‘wrong’ here; an assessment simply provides information, a snapshot of a family and their perceptions at a given point in time.”
FEAT: A Foundation for Strategic Family Planning
The Family Enterprise Assessment Tool (FEAT) is the first virtual, research-based assessment developed specifically for family enterprises. Created by Dennis T. Jaffe, PhD and Caroline Coleman Bailey, FEAT provides a comprehensive snapshot of the current state of both family dynamics and business enterprise.
What FEAT Measures
FEAT goes beyond surface-level satisfaction surveys. It systematically evaluates key areas that research has shown to be critical for family enterprise success:
- Governance structures and their effectiveness
- Communication patterns and conflict resolution capabilities
- Shared vision and values alignment
- Leadership development and succession readiness
- Financial candor and stewardship
- Innovation and adaptability
- Family relationships and trust levels
Introductory Package: The FEAT Process in Practice
With our Introductory Package each business-owning family receives a FEAT assessment and two full days of our time as a Certified Facilitator for Premier Growth. The process typically unfolds in three stages:
1. Anonymous Data Collection Family members and key stakeholders complete the assessment independently, ensuring honest responses without fear of immediate family reaction or judgment. This anonymity can reveal insights that might never surface in family meetings.
2. Comprehensive Analysis The results are compiled into a detailed report that identifies not just where the family stands, but also highlights patterns and correlations that might not be obvious to individual family members.
3. Facilitated Discussion Perhaps most importantly, we facilitate conversations around the results, helping families understand what the data means and how to act on it. This is where assessment transforms into strategy.
If your family isn’t ready yet to address the enterprise side of things, we can focus exclusively on family dynamics by using Family 360.
Family 360: Growth Within the Family Context
While FEAT provides both the family and the enterprise-wide view, Family 360 focuses on the family system only. This tool can be used by an individual, a group of siblings, or an entire extended family. Explore key areas of family health and identify opportunities for growth that will strengthen relationships which, by extension, benefit the entire enterprise.
The Power of Family Health Assessment
Family 360 has 30 targeted statements in five key areas of family health. The assessment and follow-up facilitation help family members examine their own contributions to family dynamics, their family’s strengths, and areas where they can grow. It is gratifying to identify and celebrate family strengths. In terms of growth, this process improves individuals’ self-awareness, increases accountability, and sets the table for constructive dialogue. Conversations become more productive and less defensive.
By engaging in this process, the family demonstrates that it places a high value on mutual understanding and good relationships – a mindset essential for family enterprises that want to thrive across generations.
Turning Assessment Into Action
The real value of these assessments isn’t in the data itself – it’s in what families do with the insights they provide. Our two days of facilitated meetings can help:
Strengthen Areas of Excellence
Often, families are surprised to discover strengths they weren’t fully aware of. Maybe their conflict resolution skills are actually quite strong, or their commitment to shared values runs deeper than anyone realized. Identifying these strengths allows families to build on them strategically.
Address Hidden Vulnerabilities
Similarly, assessments frequently reveal blind spots that, if left unaddressed, could become serious problems. Perhaps communication about business goals is strong, but financial transparency is lacking. Or maybe the rising generation is well-prepared operationally but hasn’t developed the governance skills they’ll need as owners. This process creates opportunities to put thoughtful guidelines, policies, and practices in place before problems develop.
Align Different Perspectives
One of the most valuable aspects of the assessment process is how it surfaces different perspectives within the family. One individual or subgroup may think that communication is excellent, while others rate it as poor. That’s not a problem with the assessment – it’s vital information that needs to be addressed.
The Stewardship Connection
These assessment tools align perfectly with my approach to family business stewardship. True stewardship requires honest assessment of what we’ve been given – both assets and challenges – and thoughtful planning for how to hand them on improved to the next generation.
FEAT and Family 360 provide the clarity necessary for this kind of intentional stewardship. They help families move beyond assumptions and good intentions to create specific, measurable plans for strengthening the family and enterprise across all dimensions.
Getting Started
If you’re wondering whether your family might benefit from this kind of assessment, consider these questions:
- Do family members seem to have different views of how things are going?
- Are there recurring conflicts or tensions that never quite get resolved?
- Is your family preparing for significant transitions, like succession or major strategic changes?
- Do you want to build on your strengths but aren’t sure exactly what they are?
- Are you committed to being intentional about your family’s legacy but need a starting point?
If any of these resonate, an assessment might be the clarity your family needs.
Moving Forward Together
Family enterprises that thrive across generations don’t do so by accident. They do so by combining deep care for family relationships with rigorous attention to business realities. Assessment tools like FEAT and Family 360 provide the objective foundation that allows families to honor both.
As your facilitator, our role is to help you not just understand what the data shows, but to translate those insights into meaningful conversations and concrete actions. Because ultimately, the goal isn’t just to assess your family enterprise—it’s to strengthen it for generations to come.
Ready to gain clarity about your family enterprise’s strengths and opportunities? I’d welcome the opportunity to discuss how Premier Growth’s assessment tools might serve your family’s needs. Contact me to schedule a conversation about your family’s unique situation and goals.
