Family Businesses in the community‌ they affect us all personally, financially and emotionally
Presentors • Cathy Huybers, Executive Director – Wisconsin Family Business Forum
• Phil Janes, Family Business Member – Janesco, Inc. • Oshkosh Marine Supply • Derby Molded Products
Overview • Impacting our community • Family business dynamics • Wisconsin Family Business Forum (WFBF) – Who we are – Why we exist – What we offer
Impacting Our Lives Family Business: • 92% of all businesses • Employ nearly 60% of the workforce • Produce 40-60% of GDP • Utilize over 2.4 trillion dollars of investment capital • Provide stability for our local, regional and national economies
Impacting Our Lives • • • • •
Your vendors and suppliers Your customers Your neighbor Your child’s employer Your spouse’s employer
Family Business Dynamics “As the ‘next generation’ president, you’re always being compared to previous generations. Being part of a family business adds a different dynamic and greater challenges.” —Jim Neumann RB Royal Industries, Inc. President
Family Business Dynamics Structure Conflicting rules, messages, expectations, needs and values
Family Business Dynamics Conflicting Systems Family vs. Business Reward
Membership Care Measure of Performance Communication Finances
Need Lifetime Nurturing Emotional well-being Secretive Private
Performance Performance Competitive Bottom line
Open Public
Family Business Dynamics Key Issues • • • • • • • •
Vision, mission and goals Succession Participation Ownership Compensation Roles of non-family members Estate planning Governance and conflict resolution
Family Business Dynamics Key Issues Odds of family business survival: 20% make it to second generation 10% make it to third generation 3 % make it to the fourth generation and beyond
Family Business Dynamics Dealing With Issues • Planning • Communication • Outside assistance
WFBF - Member Perspective “They [WFBF programs] are a
networking opportunity to get together with other people that are facing very similar problems and bounce ideas off
other family businesses.” —Jim Simpson Marion Body Works, Inc. Co-President/CEO
WFBF - Why We Exist Foster healthy family businesses through: – – – – –
Educational programs Information Networking Resources Research
WFBF- Why We Exist “The magic is the interaction and opportunities to share with your peers. You can relay your horror
stories and find out you are not the only person with that experience.” —Craig Smith Retained Earnings Co. Founding Sponsor
WFBF - Who We Are • Partnership: family businesses, professional service organizations and UW Oshkosh, College of Business • Includes: owners, family members and non-family employees • Established in 1996
WFBF- Member Perspectives “I call it my ultimate support group…the relationships you develop with the memberships are priceless.” -Jane Sweasy JAG Outdoor Advertising, Inc.
WFBF - Who We Are • Members: 35 family businesses with over 700 annual contacts • Sponsors: 9 different businesses • Staff: 3 individuals
WFBF - Sponsor’s Perspective “The Forum gives us the opportunity to meet a lot of
interesting, talented, dynamic family business leaders.” —Thom Cody Pathmakers, Inc.
WFBF - Sponsor Perspective
“The Forum gives me the opportunity to become a better trusted advisor to my clients...” —Wenda Roycraft First National Bank – Fox Valley
WFBF - Member Profile • • • • •
Years in business: 10 -112 Leadership generation: first - fourth Annual sales: <$1M to > $1 Billion Employees: 5 to over 850 Business sectors: wholesale, retail, service,
manufacturing, extraction, construction, distribution, printing, publishing, contracting, masonry & concrete subcontracting, telecommunications contracting, property management & development, recycling, transportation
WFBF - What We Do Programs Educational presentations including break out groups with facilitators (5 times/year) • professional speakers • family business owners • experienced in family business
WFBF - Member Perspective “It’s comforting to know others have the same issues…” — Gail Ann Winkler TRUSSCO Member
WFBF - Member Perspective “We have found it a great honor to be able to share some of our concepts”
— Vicky Wuest Badger Mining Corporation Charter Member
WFBF- Example Programs • Keys to Succession Planning
• Conflict Resolution • Hiring & Retaining Non-Family Managers • Why Can’t They Be More Like Me! • Estate Planning Tips from Two Perspectives • Mentoring & Coaching the Successor • Generation Dynamics & Family business Life Cycle: Mentoring & Coaching the Next Generation
WFBF - What We Do Affinity Groups: • Senior Executives • Non-Family Executives • Generation Now • Couples • ROOTS (Refining our • Information Origin & Traits) Technology • POPs (Product of Our • Best Practices Parents) • TBD (To be determined)
Individuals meet periodically to share experiences and perspectives on family business issues
WFBF - Succession “The Forum was a huge help in handling the succession from my generation to my son & sonin-law.” —Bud Simpson Marion Body Works, Inc. Chairman
WFBF- Additional Opportunities • Support system
• Web site
• Cost-effective, convenient resource center
• Newsletters
• Networking opportunities • Neutral environment
• Consultant directory
For Further Information • Contact: – Cathy Huybers, huybersc@uwosh.edu; 920.424.2257 – Donna Nelson, nelsond@uwosh.edu; 920.424.1541 – Dale Feinauer, feinauer@uwosh.edu; 920-424-4152
Thank you for your time and interest!