Did you know Southwest Florida, historically, has been more reliant on small businesses than the rest of Florida? It’s true, and the popularity of that small business culture is an economic driver for the region. Why? It’s because small businesses play a vital role in a community’s development, growth and sustainability. They are also often the beginning of a journey for many entrepreneurs.
For many of these ventures, the family keeps the engine running. The “family business” brings a new perspective to business relationships. Just imagine that your boss is your father, mother or uncle, or your co-worker is your sister or maybe your cousin. Thus, business topics or issues are integrated into family dinners or conversations. This also means a mundane business regularity could be heightened and tinged with emotion because of family dynamics.
Perhaps this is something you’re dealing with or could be in the near future. That’s why we created the Resnick-Wynn Family Business Conference in partnership with Florida Gulf Coast University (FGCU). All types of family firms have the opportunity to learn lessons from large, multi-generational success stories that highlight the importance of sustainability in this niche area of the business world.
As a regional comprehensive university, FGCU aims to share best practices that benefit everyone in its five-county region. This year, the family business conference offers invaluable insights and lessons learned from multiple generations of family businesses on driving success through succession — something that is essential and starts for your business on Day One. We know management and ownership succession in family businesses create challenging questions, such as should management and leadership continue in the family, how to preserve the family name or culture during economic cycles, and how to use outside directors and advisory boards for governance and growth successfully. We also look at estate planning ideas for protecting your family assets from taxation, and more.
The Resnick-Wynn Family Business Conference is 12:30-5:30 p.m. Friday, March 3. This year’s keynote speaker is Alan Hassenfeld, former chairperson and CEO of Hasbro Toys. He will share the story of his own family business, complete with tales of humble beginnings and early struggles. Hassenfeld will re-create his roadmap to turning it into a respected multibillion-dollar international company. He also found success through succession.
This year, we’re also excited to welcome leaders of many successful family businesses in Southwest Florida. Together, we’ll learn from FGCU alum Michael Wynn, who is the chairperson of Wynn Companies and president of Sunshine Ace Hardware, and John Resnick, founder of the Resnick Group. Finally, Blake Gable, CEO of Barron Collier Companies and chair of FGCU’s Board of Trustees, will talk about what it’s like to be a fifth-generation family business leader taking his company to the national stage.
If these topics and keynotes speak to you, I hope you and your colleagues — or should I say, “family members” — make plans to be at FGCU March 3. This conference teaches family business owners best practices and strategies. Plus, all the proceeds from the conference registration go to scholarships for business and entrepreneurship students.
It is a one-of-a-kind conference that is a win-win for everyone!
For more information or to secure your seat at the Resnick-Wynn Family Business Conference, please visit fgcu.edu/familybusinessconference.
Aysegul Timur, Ph.D., is vice president and vice provost for strategy and program innovation and a professor of economics at Florida Gulf Coast University and a FutureMaker.
