Family businesses throughout the region increasingly are finding ways to learn from one another and share their stories of success.

The Prairie Family Business Association experienced a year of membership growth, strong programming and an enhanced effort around storytelling in 2024 – and it’s benefiting family businesses throughout South Dakota, North Dakota and increasingly even nationally.

The association is led by a four-person team: Stephanie Larscheid, executive director; Peter Hauck; assistant director; Mason Van Essen, business development manager; and Callie Tuschen, office manager.

They took time to reflect on the year’s successes and look ahead to more resources for family businesses in 2025.

Which core PFBA program was memorably impactful in 2024 and why?

Stephanie Larscheid: Affinity Peer Groups rise to the top of impact in 2024. From the release of our Affinity Peer Group Handbook to the shared experiences that connected peer group mates, this was a highlight. Overwhelmingly, our families find high value through a peer group. Family business can be lonely, and there are few in your life who understand what it is like to work alongside family members. The key pillars of family, business and self are important themes to discuss in a confidential setting with peers who are in a similar stage of life and business.

The Annual Conference stands out as a highlight of the year. It’s often a family’s first interaction with PFBA and tends to become a memorable and repeatable event. AmyK’s The Power of Profitable Conversations is a conference session that had a lasting impact on our families. As I converse with families and talk through their family business issues, multiple people have quoted or used AmyK’s magical phrases. Spoiler alert: We have a few projects in the works with AmyK — AmyK Hutchens — for 2025. She is leading our Women in Family Business Leadership Retreat, she will lead a pre-conference workshop with these women, and she’ll have session at the 2025 conference called Ignite Brilliance in Your Innovation.

Callie Tuschen: Our Annual Conference is always inspiring and impactful with some very insightful speakers and great networking. I have yet to walk away from our conference without a list of takeaways to implement. It’s very exciting to look forward to our biggest one yet in April/May 2025. I will also say that AmyK’s conference presentation was spot-on, and her energy is fantastic. It is very exciting that we are partnering with her for our Women’s Leadership Retreat in February; it will be a pivotal event for the women attending!

I also think our awards are always great because we get to honor a family business for their notable accomplishments and contributions to their community. Every family business creates a ripple effect on their local community and economy through their products/services, employees, giving, etc. They deserve recognition for their hard work. It is especially great when our other members attend these social events because connection and networking is one of the things our members ask for the most.

Mason Van Essen: I had the opportunity to be a part of the Next Gen Retreat in the Black Hills this October. It was an excellent opportunity to spend time with the up-and-coming leaders of a number of our members. From trusts to developing as a leader to writing the next chapter for the family business, next gens are dealing with unique challenges! It was great to see them engaging with the speakers and advisers throughout the event, but it was especially rewarding seeing them deepening their connections with each other. Having another family business leader you can lean on throughout your journey is an invaluable resource.

Peter Hauck: For me, it’s hard to beat the value and impact of our Live Case Studies. So many of our families come to us saying “I know I want to work on my family business, but I’m not sure where to start,” and that’s exactly what our Live Case Studies help with. This year, we had several Live Case Studies that were nothing short of transformational for the families that participated in them. This program also helps our professional advisers get a firsthand look at the issues facing family businesses today, making them better family business advisers and executing on our team’s mission of improving the network of resources available to the family businesses we serve.

As part of a multiyear storytelling campaign, PFBA strategically captured the stories of family businesses in 2024. What was a memorable story PFBA told this year?

SL:  The webinar we hosted on culture, presented by Tom McDougall, founder, president and CEO of High Point Networks, contained several valuable lessons. Tom was joined by second-generation leader Meagan McDougall. The company has capitalized on opportunities to grow and with that has come “people growth” – both in terms of number of people and development of people. Tom and High Point Networks leaders took stock of the best qualities of their best people, and those qualities became the basis for their core values and their hiring practices.

CT: Since it was our inaugural year for our podcasts, I will say that each of the episodes was very interesting. I love to hear our members’ stories and how they interact and influence the success of their businesses. We have hundreds of amazing business leaders in our membership, and I love hearing who they are and how they operate.

MV: All our programs and content are a direct result of what our members are asking for. The top six subjects our members requested in the 2023 annual survey were communication, culture, innovation, leadership, strategy and succession, and the PFBA team intentionally facilitated the telling of many stories that exemplify these themes through our podcast, our webinars, our articles and our magazine. One of the more memorable stories was from Brittney Ray of E. Ritter & Company on the “Family Business Connection” podcast. She talked about what it was like to be a married-in leader of a sixth-generation family business, an incredible accomplishment for any business to not only survive that long but also thrive.

PH: I loved the webinar conversation we had with the Snyder family of VIKOR Teleconstruction and Pomegranate Market. Theirs is a family I’ve had the pleasure of knowing for many years, and I continue to be impressed by the ways that they have incorporated innovation into the culture of their company and leveraged the knowledge and expertise of the next generation to grow their family’s businesses. It was a joy to be able to share some of the stories that I’ve heard over the years with our members.

What else has PFBA achieved this year that you’re proud of?

SL: The storytelling focus of PFBA has been powerful. Launching the “Family Business Connection” podcast has led to engagement across our membership and beyond. There are so many valuable stories incorporated into the stories of our podcast guests. The good and bad of family business is that there is not a one-size-fits-all solution to succession planning. Each family business needs to adopt the solution that fits their values and goals – both family-wise and business-wise. I look forward to lifting the stories that can inspire and compel people to take a step forward in the year ahead.

The Board Directory also has been a dream for several years, so it was rewarding for it to launch and be an asset for members. The purpose of the Board Directory is for our families who operate with a board to have access to qualified individuals with a variety of experiences and expertise who can be tapped for board service. We have outstanding and qualified individuals who are on our Board Directory. Access to the directory is included with PFBA membership and available to the public for a charge.

CT: What happens behind the scenes isn’t always apparent or appreciated; however, I think it is important to acknowledge and recognize that the PFBA team is a small but mighty powerhouse group that loves serving family businesses. Our members’ wins are our wins. We all take to heart our roles and are honored to serve our members and work to provide the best resources possible. As our membership grows, we continue to create efficiencies to help us meet our members’ needs. There is always room for improvement, and our team pushes through challenges, so I am excited to see how we mature in the next year.

MV: PFBA has always prided itself on delivering incredibly high-value programs and connections to our members. Our membership has grown organically over the years as a family business leader mentions to another, “Hey, there’s a place where you can find the right next step for your family business.” This year, the PFBA team has put effort into expanding the “on-ramps” to our organization. From establishing partnerships with industry associations to our first-ever New Member September, we’ve simplified and expanded the way those organic introductions happen to reach even more family businesses across the country.

PH: One of the things that I am most proud of from the past year is the initiative of launching an all-new handbook for our Affinity Peer Groups. Our Peer Groups are one of the most valuable programs we offer at PFBA, and our handbook is a vital tool for helping those groups thrive. The resources we laid out in that handbook help our groups to connect on a deeper level and tackle the personal, family and business-related issues that are holding them, their families and their businesses back.

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