Live Case Studies

Is your family our next case study?

Participation as a Live Case Study family business is a member benefit of Prairie Family Business Association. As a Live Case Study family, you will work with a team of local area advisors (for example, an estate planning attorney, a human resources consultant, a CPA, a financial advisor, a banker, a strategic planner, etc.) who will analyze your family business and provide recommendations for enhancement and guidance on next steps for your family’s succession plan with the goals of each of your family members in mind.

You will need to commit 4-8 hours over the course of 2-4 months.

Once you commit to the Live Case Study experience, your family will need to complete two questionnaires. One will be completed with the overall business in mind and includes questions, such as:

  • What kind of transitions are being considered?
  • Does the business have a three year financial forecast?
  • What is the single most important issue facing your family business

The second questionnaire will be completed individually by each family member to gain a personal perspective of all involved in the business. Questions include:

  • What is your top goal/outcome from this case study experience?
  • Do you currently hold family business meetings?
  • Describe a few of your greatest family and business successes.

Once you complete the questionnaires, a 1.5-2 hour meeting will be scheduled with the advising team to learn more from you first hand. A second follow-up meeting will be scheduled approximately 3-6 weeks following the first meeting where the team will present your family with their recommendations. Additional follow-up calls may be scheduled if your family is interested in continuing the relationship.

Your family will receive an outline of three to five primary recommendations tailored for your family and business situation. There is no obligation to implement or follow the recommendations.

No. The advisors are participating in this process to learn and better serve the family business clients and believe in the mission of PFBA 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.

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.

PFBA will work with you to connect with a group in your area at their next available time. The timing of your case study will depend on the downtime of your business/availability of your family to meet with the advisors and the availability of the advising team, but usually will occur within six months.

The live case study was so helpful for our family and having an outsider perspective was amazing. We truly did not understand the amount of work we needed to do “on” the business and how much needed to be done with transition planning. We have since completely opened up dialogue on all matters of the business and have started meeting bi-monthly to continue progress. We can’t thank the members of the study group enough for their time and giving us the direction we needed to begin transition planning.

2016 Live Case Study Family
Fargo, ND Business

How to Sign Up:

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Need more information?

We are happy to connect you with a family that has completed the Live Case Study experience so you can speak to those willing to share about their experience.

“Being the focus of a live case study showed us how to put the puzzle pieces together. The experience resulted in drafting and signing our buy-sell agreement and our children learning to become well-rounded in business as they are working on strategic planning. We have peace of mind and our children have the resources they need.”

Testimonial from a 2016 Live Case Study

Sioux City, IA Family Business