TPA Background

The Transition Preparation Assessment (TPA) is a fully automated online assessment designed to assist family business owners in navigating through a successful business transition. It combines the latest conceptual models on family business transition with secure technology to enable the delivery of meaningful information. The TPA systematizes information into a customized report that identifies several important variables that family business owners can address prior to engaging in a transition. The tool is ideal for family business owners (or advisors who work with family business owners) who are considering an eventual transition.

The tool was developed by JSA Advising, LLC., a firm dedicated to supporting family business owners and their advisors as they move through transition.

What It Is

• A quick and useful online assessment tool that provides family business owners and their advisors a clear and comprehensive framework to initiate important conversations around business transition.
• Easy for business owners to complete. The TPA takes around 15-25 minutes to complete.
• A tool that can enhance knowledge and understanding of the entire family business system.

What It Does

• The TPA identifies the current stage in the business lifecycle.
• It explores the personal business values of the owner in several relevant areas (financial, infrastructure, and customer/market share) that can assist in the transition of these values to the next generation.
• It highlights the owner’s vision for transition (sell, gift, etc.).
• It analyzes the readiness to transition on three primary domains within a family business (ownership, business, and family domains).

Why It Is Valuable

• It educates the owner on the complexity of family business transitions while gathering important information.
• The results are sent to the advisor to review with the client. Thus enhancing and deepening the advisor’s relationship with the client.
• It can be a great tool to begin strategic conversations about business transitions with owners.
• Starting the preparation for transition process earlier and with more information can enhance success and reduce the current 70% failure rate for family business transitions.
• It provides a holistic, three-domain family business framework that allows advisors to get a better picture of how to best support their clients.
• Owners and family members can see how their individual and collective visions/perceptions of the transition align earlier in the process. This awareness can eliminate future conflict.

How It Works

• The advisor sends TransitionPrep.com the Name and Email of the client they would like to complete the TPA via the web form.
• Within 1 to 2 business days, JSA Advising will send out a TPA email with instructions and a link to the business owner (the advisor will be copied on this email).
• The business owner clicks on the link and follows the instructions to complete the convenient 15-25 minute assessment in the privacy of their own home or office.
• JSA Advising then analyzes the information and embeds it into a customized PDF report.
• The report is emailed to the advisor who submitted the request.
• The advisor can review the information with the client. Many advisors find the TPA to be a vital supplementation to their normal services and products
• If additional resources are required, JSA Advising can offer a list of service providers who can support the entire family business system. “If you want to learn more about the founders/developers/creators of the TPA or are interested in receiving consultation services from them, click here.