Center for Family-Owned Businesses

Resources for family businesses

Established by Our Family Business to Serve Your Family Business.

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1 Management

13 Things That Make Organizations Extraordinary



Originally published on www.marksanborn.com, February 10, 2024.

Written by Mark Sanborn, Pres. of Sanborn & Associates, Inc., international bestselling author, award-winning leadership speaker, and upcoming guest speaker on our upcoming webinar titled, “The Fred Factor–Turning Ordinary Leaders into Extraordinary Leaders” on April 9, 2024.

The article, “13 Things That Make Organizations Extraordinary,” by Mark Sanborn, and originally published on marksanborn.com, unpacks two decades of research to reveal what he refers to as the “Lucky 13”, or 13 critical elements that set leading companies apart from the rest.
 
Read the full article.

2 Leadership

The Power of Self Leadership



Originally published on www.marksanborn.com, February 10, 2024.

Written by Mark Sanborn, Pres. of Sanborn & Associates, Inc., international bestselling author, award-winning leadership speaker, and upcoming guest speaker on our upcoming webinar titled, “The Fred Factor–Turning Ordinary Leaders into Extraordinary Leaders” on April 9, 2024.

The article, “The Power of Self Leadership,” by Mark Sanborn, and originally published on www.marksanborn.com, discusses the importance of first learning the art of leading yourself before being able to successfully lead others. He also outlines some of the key skills that create self-leadership.
 
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3 Brand

AI and Your Brand: A Journey from "What's That?" to "Wow, That's Incredible!"



By Hector Garcia, AI pioneer and founder of Ai23


Are you ready to dip your toes into the vast ocean of Artificial Intelligence (AI) without feeling like you're drowning in tech jargon? We’ve got you covered! Let's demystify AI and turn it from a head-scratcher into your brand's secret weapon.
 
Read the full article.

1 Technology

How Will AI Change the Labor Market?



By Jeff Cockrell, Chicago Booth Review


In this article by Jeff Cockrell and originally published on November 10, 2023, in the Chicago Booth Review, a publication of The University of Chicago Booth School of Business, economists consider how Artificial Intelligence (AI) technology will affect job prospects, higher education, and inequality.
 
Read the full article.

2 Legacy

Moving a Family Business Beyond the Founder’s Vision


By Dennis T. Jaffe, Ph.D

Originally published on HBR.org, September 21, 2022.


The article, “Moving a Family Business Beyond the Founder’s Vision,” by Dennis Jaffe, and originally published on HBR.org, discusses how a founding family member establishing and growing a successful business is only the first step. The next generation of leaders need to strategize and reestablish what business they are in, what the goals will be, and how to achieve this new path.
 

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3 Family Business Spotlight

Educating the Next Generation



By Charlie Rhomberg, freelance writer and a fourth-generation member of Crescent Electric Supply

Originally published in Family Business Magazine.

This article, “Educating the Next Generation,” written by Charlie Rhomberg and originally published in Family Business Magazine, shares how Crescent Electric Supply overcomes the challenges of keeping over 100 shareholders across seven family branches informed and on the same page. The author shares how they are developing an on ramp for each family member to become active and engaged shareholders.
 
Read the full article. 

1 Succession

Successor Training: Take it Slow



By Chris Yount

Originally published on Family Business Magazine, January 26, 2024.

Your vision and legacy are too important to be left up to chance.

The article, “Successor Training: Take it Slow,” by Chris Yount, and originally published on Family Business Magazine, discusses the process of slowly transitioning successors into the family business. The author also outlines three courses of action to take if you deem an heir is not up to the task of leading the organization.
 

Read the full article.

2 Wealth Transfer

The Progenitor’s Dilemma: Avoiding Entitlement When Transferring Wealth



By Doug BaumoelBlair Trippe and Katie Spencer


The article, “The Progenitor’s Dilemma: Avoiding Entitlement When Transferring Wealth,” by Doug BaumoelBlair Trippe and Katie Spencer, and originally published by Continuity Family Business Consulting, discusses strategies that parents and grandparents may use to help leave a legacy of empowerment and not entitlement with their transfer of wealth. The authors also discuss how much progenitors should give to their heirs and when.
 
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3 Legacy

Transitioning the Business: Building Your Legacy



By Joshua Nacht, Senior Consultant, Family Business Consulting Group

Originally published in Family Business Magazine, September/October Issue.

This article, “Building Your Legacy,” written by Joshua Nacht and originally published in Family Business Magazine, discusses the process in which multi-generational family businesses develop a sustainable legacy. The author reiterates that building a family-business legacy requires a sustained investment of time, energy, and resources.
 
Read the full article.

Family Business Management Solutions

Achieving long-term success as a family business demands the right tools. Let First Bank’s tailored family business solutions help your organization achieve success now and for generations to come.

Explore First Bank in our clients' words

Bright Lives Healthcare Inc.

After observing how healthcare facilities are run, CEO and Executive Chairman of Bright Lives Healthcare Inc., Prabal Gupta, took advantage of an opportunity to improve the environment in which seniors with Dementia and Alzheimer’s live.

Dependable Solutions

Marty Malysz, President at Dependable Solutions, shares his insight on the company's partnership with First Bank.

JD Barlow Construction

Dawn Vernola shares her insight on her company's experience with First Bank.
Commitment to Family-Owned Businesses Michael Dierberg
Our multi-generational family history uniquely positions us to understand the needs and challenges.