Prairie Family Business Association hosted its first Board Bootcamp on January 10th.
The day-long engagement was held in Fargo, North Dakota, and virtually. Board Bootcamp engaged 42 family business owners, key employees and next generation leaders from 18 businesses across six states.
The purpose of Board Bootcamp was to connect family business owners to help them enhance their current board or take steps toward forming a board. Those in attendance either had an existing board, fiduciary or advisory, or have intent to form a board.
The day was spent engaging in sessions with topics including talent development, recruitment, meeting execution, evaluations, accountability, training, and compensation. Five family business facilitators led the sessions. The conclusion of the day was spent in family goal setting and sharing next steps with peers.
One participant had the following to say about their experience, “Board Bootcamp was a great reminder that we are not alone in our challenges. It gave us the confidence and resources we needed to keep moving forward on our journey of forming a fiduciary board and transitioning ownership to the next generation. The connections we made with other family owners and with the speakers were equally as valuable as the information we acquired. You can’t talk about these topics with just anyone.”
Learn more about Prairie Family Business Association’s board programs or details on the upcoming annual family business conference.
The Prairie Family Business Association helps family businesses thrive through generations by providing a resource network for family business success. The association is a key outreach center of the University of South Dakota Beacom School of Business.