Rosemary McCoy

Highly recommended family business speaker to share how ‘culture trumps everything’

PFBA /

Like many business owners, Mark Moffatt has heard a lot of speakers. But this one was different. “I joined a Sioux Falls Vistage peer group awhile back and heard Dr. Gustavo Grodnitzky speak in February 2020. He was the best speaker I’d heard yet since joining,” said Moffatt, general manager of family-owned Moffatt Products in […]

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Optimize your business’ board: Attend this upcoming Board School

PFBA, Q&A /

Whether your business uses a board of directors, is thinking about starting one or if you serve on a board, an upcoming Board School could be for you. Prairie Family Business Association’s Board School is designed for business owners who: • Are considering establishing an advisory or fiduciary board.• Want to increase the value and

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‘Stop fighting on the way to the funeral home’ with this family business strategy

PFBA, Q&A /

Jolene Brown brings a few nontraditional tools when she meets with family businesses. The veteran professional speaker and family business consultant starts with a mirror. “Most people want me to work with them to fix somebody else,” she explains. The mirror is a redirect. “We have to start with the people at the table and

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When business owners retire: Well-known entrepreneurs share strategies to life after role as CEO

Member News, PFBA, Q&A /

Creating a plan to transition family business leadership is one thing – executing it is another. What does retirement really look like? Should you use a board of directors? And how should it be structured? Do you still have an office? While you might feel alone in trying to figure this out, the issues faced

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Family hotel company: ‘We’re just trying to be creative in any way’

PFBA /

Put simply, the hotel business sells the commodity of time. Nights in a room. Event days. Weeklong stays. “We can’t sell lost time,”  said Paul Hegg, CEO of Sioux Falls-based Hegg Cos. “In our business, lost time equals lost revenue.” In 2020, time – and revenue – have been lost for good at hotels worldwide.

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Next generation at family manufacturer learns on the job during disruptive year

PFBA /

At one point, no day seemed predictable. They were laying off people. They were busier than they could handle. They didn’t have enough work to go around. They had so much work they ran 24 hours a day, seven days a week. Brookings-based Falcon Plastics’ business is driven by the demands of other businesses –

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Fourth-generation bank embraces flexibility, family’s values during pandemic

PFBA, Success Stories /

At 73, Van Fishback has been around his family’s bank since he was a teenager. He began full time in 1972 and now serves as board chair of Fishback Financial Corp., the holding company of First Bank & Trust, a role that finds him stopping in the bank most days while balancing his time serving

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