At Next Gen Advisors, LLC, we understand families and family business. We understand why strong families working together want to plan for their future and why families struggling need help. We guide both. We are trusted advisors who help families apply the science of positive psychology to address difficult questions such as: Do family members feel compensation is fair and equitable? Is there a succession plan in place that future generations are comfortable with? We facilitate the tough conversations so that families can work together openly and effectively for better business performance and stronger family bonds.
Typical family business planning focuses only on money (financial plans, retirement plans, estate plans, etc.) and is limited to legal and accounting/financial services.
Traditional planning is important but it’s not enough. Almost 90% of family businesses fail after 3 generations.
Our approach starts with the heart of a family business – the family. We help guide members to create a positive culture built on trust and constructive communication.
A positive culture, combined with smart planning, helps families successfully navigate the competing roles, relationships and priorities in their family business and formulate strategies for long-term success.
No two families are the same and their plans shouldn’t be either. We’ll customize a plan to suit the individual needs of you and your family.
Our engagement starts with an initial meeting with key stakeholders to understand your goals, challenges and opportunities. Our in-depth evaluation begins by using a proprietary questionnaire designed to evaluate family dynamics and assess the current state of your business.
After we have completed our assessment, we will recommend a course of action to help your family attain your desired results. Your plan will be custom designed to leverage the strengths of everyone on your team. We will then work with your family to execute your custom plan for achieving sustained growth.
The Next Gen Advantage
Our advisors can assist you in many different areas of your family business:
- Family Dynamics
- P/E Max
- Strategic Planning
- Appreciative Inquiry
- Conflict Resolution