Family Business Action Plan

Live Case Studies consist of a series of three meetings: 

1 - Interview
Family & Advisors - 90 Minutes

2 - Planning
Advisors Only - 60 Minutes

3 - Final Recommendation
Family & Advisors - 90 Minutes

Including preparation time, you will need to commit 4-5 hours over the course of 2-4 months.

1. Commitment
Your family commits to participating in a Live Case Study

2. Questionnaires
Your Family completes two questionnaires:
• A company form (completed once)
• An individual form (completed by each participant)

3. Scheduling
Our team works with you to schedule two meetings:
• An interview meeting 5+ weeks from today
• A final recommendation meeting 4+ weeks after the interview meeting

4. Assembling Advisors
We assemble a team of advisors from different disciplines for your Live Case Study. Your team will consist of 4-8 advisors and could include an attorney, a CPA, a banker, an HR consultant, a leadership coach, a wealth manager, or any other professional advisor in our network who may be helpful.

5. Privacy
Your team of advisors all sign non-disclosure and non-solicitation agreements

6. Interview Meeting
The initial 90-minute interview meeting is held with both your family and your team of advisors. The advisors ask your family questions to better understand your specific situation.

7. Planning Meeting
Your team of advisors meets separately to assemble a list of 4-6 key recommendations for your family and your business.

8. Recommendation Meeting
Your family meets with your team of advisors to review their list recommendations and go over any questions you may have.

Your family will receive an outline of four to six specific recommendations for next steps tailored for your family and business situation.

There is no obligation to implement or follow the recommendations.

No! Our advisors participate in this process to learn from one another and better serve their existing family business clients. They also believe in the mission of PFBA, and are committed to serve as a resource network for family business success.

The advisors will not solicit you for business. Their contact information will be provided to you and you are welcome to follow up personally with any of the advisors if it is advantageous for your family and business.

One of the benefits of participating in a Live Case Study is getting a fresh perspective from advisors who do not currently work with your family's business—so it is not beneficial to ask your current advisors to participate. 

Most families completing the experience express gratitude for the guidance and encouragement to focus on their family transition plan. Many families continue to follow-up with their advising team at six-month or yearly intervals for accountability.

The timing of your case study will depend on the number of currently ongoing Live Case Studies, the availability of your family to meet with the advisors and the availability of the advising team, but usually will occur within six months.

To participate in a Live Case Study as a professional advisor, you must first join Prairie Family Business Association as a Professional Advisor Member. Once you have completed the membership application, our team will be in touch about opportunities to get involved.

Through our Live Case Studies, professional advisors: 

• Collaborate with other professional advisors from different disciplines who are focused on advising family businesses
• Build relationships with peers who face similar challenges and opportunities
• Acquire knowledge and experience from other professional advisors with different family business backgrounds
•  Gain valuable tools and questions to take back to their existing family business clients