Research shows these 3 elements are key to successful family business transitions
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The Prairie Family Business Association that helps family businesses succeed in South Dakota, North Dakota, Nebraska and Minnesota a has hired a new executive director.
“Stephanie Larscheid brings significant talent, experience and energy to the organization,” said Venky Venkatalachlam, dean of the University of South Dakota Beacom School of Business. “She has excellent strategic perspective as well as execution experience, which will help shape the future directions the Prairie Family Business Association will pursue.”
Larscheid started at the Sioux Falls, South Dakota-based business outreach program on Oct. 19. with the University of South Dakota Beacom School of Business. She has a background in nonprofit work including active participation in the Council for Advancement and Support of Education and work with organizations such as the University of Iowa Foundation, Family Visitation Center and Principal Financial Group. She also has third-generation experience in a family business. Most recently, Larscheid served as director of major and planned giving at Augustana University in Sioux Falls. Larscheid is from Algona, Iowa.
Prairie Family Business Association started in 1993 and is an organization out of the University of South Dakota Beacom School of Business that specializes in helping family businesses. The association’s next event is on Dec. 2 and called “Avoid Family Business Transfer Traps.” The event will review six common traps when a family business transfers owners or organizations and how to make sure they are prevented.
