Affinity Peer Groups

A Family Business Resource

Affinity peer groups are small, highly confidential discussion groups that meet regularly, allowing members to share experiences and learn from each other.

Members explore opportunities and challenges they are facing personally or within their family business. Discussions address how to make family leadership a competitive advantage. Trained facilitators guide the group.

Through mutual support and open interaction based on trust and confidentiality, each member of the group learns how to advance leadership skills, share best practices and work effectively with family employees, non-family employees and non-employee family members. Prairie Family Business Association members consistently rank affinity peer groups among the highest value of membership.

Current Leading Generation

  • Discuss growth opportunities and share best practices

  • Succession planning for the next generation

  • Estate planning

  • Communicate plans and desires to successors while contemplating financial and lifestyle changes

  • Discuss turning control over to the next generation

  • How to leave a legacy

Transitioning Generation

  • Preparing to assume leadership role in the family business

  • Face obstacles such as gaining the respect of company employees loyal to the senior generation

  • Transition from peer to leader

  • Need to negotiate with siblings and/or cousins on ownership issues

  • Preparing to be impactful leaders

  • Discuss role with senior generation while demonstrating capability of leading and maintaining controlling shares of business

  • Address both management succession and ownership succession

Next
Generation

  • Participants are potential future leaders of the family business who currently are not in key management positions

  • Recent college graduates

  • Concerned about decisions to take an active role in family business

  • Anticipating possible ownership of family business

  • Interested in better understanding the family business system and how it affects personal career choices

Affinity Peer Groups create an environment where you’re encouraged to express yourself freely, knowing that your message is understood and people listening have valuable input. It’s been very eye-opening. I feel that I have grown immensely on both a personal and professional level. Ever since joining the group, I have felt that my mentor and my peer are my Prairie family.

Trenton Elliott

A-OX Welding Supply

The initial attraction to be a part of the affinity peer group was to be in a small group of young executives where we could openly and safely discuss business issues that were pertinent to the group. We all have similar aspirations in our family businesses and the unique insights from each of our personal or other business experiences have given us ideas on how to protect or enhance our development in each of our family-owned businesses.

Joe Gaspar

Tristate Flooring - Sioux Falls, SD

PFBA has given us resources to allow our family to have an open and honest dialogue regarding present and future family business planning. My affinity peer group has given me a chance to meet and form relationships with other family business members who have similar challenges and opportunities.

 

Aaron Canfield

Canfield Business Interiors - Sioux Falls, SD

Interested in joining a group?

We'd love to talk with you more about the benefits your family business could receive.