It is an exciting time in our 100+ year-long history as Mikel Williamson assumes the role of President and CEO. As of November 1, 2023, Mikel will be taking over day-to-day bank responsibilities and will also serve as CEO and president of FB Corporation.
In this article, “The Truth About Family Business Succession,” written by Dr. Allie Taylor and originally published by Orange Kiwi, LLC, you will discover 10 things owners wish they knew about succession years before they started. Dr. Taylor discusses some of the challenges in succession planning and how to address them
This article, “Merit or Inherit: How to Approach Succession in a Family Business,” written by Josh Baron, Senior Lecturer at Harvard Business School and Co-Founder/Senior Advisor at BanyanGlobal, and originally published by HBR.org, describes a path to succession using a blend of both the “merit model” and the “inherit model." Using both models is far more likely to set the next generation of family members up to succeed.
To brand or not to brand; it’s a very good question. No, we’re not discussing a soliloquy from Shakespeare, but an important decision that family businesses must make when strategizing for the future. Being the economic powerhouse they are, it makes good financial sense that family businesses wouldn’t leave something as critical as their business branding to chance.
Whether for a first-generation entrepreneur or an established family business, an inventive spirit is at the core of building and preserving a long-term legacy. Some of the world’s most iconic and enduring companies began simply by combining ingenuity and determination to improve the quality of everyday life of their customers.
Join us in this episode as we delve deeper into Bill Bracken's journey, his commitment to serving those in need, and the powerful work of Bracken's Kitchen in fighting food insecurity and transforming lives through culinary training.
Hosted by the First Bank Center for Family-Owned Businesses, John K. Murphy, guest speaker and president of JK Murphy Advisors, discusses why understanding the value of your business, even if you have no intentions to sell, is imperative. Murphy shares tools on how to understand the value of your family business, especially when it comes to how your competitors and industry experts see your business. In this session, you will explore your strengths, weaknesses, and opportunities to improve.