With more than 85,000 family enterprises in Connecticut (approximately 25,000 in Hartford and Tolland Counties), a group of business leaders have joined together to create Family Business Boot Camp, a year-round education program for business owners and the next generation of young professionals, interested in growing into a leadership role.
The goal of the program’s curriculum is to take the mystery out of working in a family-owned operation by providing a snapshot of all facets of running a business.
“Having worked in family business most of my life, there are many issues and challenges we deal with on a daily basis. We will bring our expertise to this boot camp so the next generation can continue to evolve and grow the business,” said Capri Frank, co-founder of the program and VP, Sales & Marketing at Miller Foods in Avon.
The four-part morning series will be held at Manchester Community College’s Viscogliosi Entrepreneurship Center, MCC on Main, 903 Main Street, Manchester. Classes will run from 8:00 a.m. to noon on April 4, 11, 18 and 25.
“The college’s partnership with the Family Business Boot Camp is one more way we are able to support the educational needs of our community,” said Gena Glickman, President, Manchester Community College.
The boot camp will feature four half-day sessions on the following topics:
Operations and Human Resources
Learn what it takes to manage the operations of a family-business, including setting up and implementing organizational structure and effective systems. You will get a glimpse into the values and dynamics of the four generations in the workforce today. We will highlight the core capital of a family business, from human to financial to enterprise capital. We will provide insight on how to properly manage your talent through hiring, onboarding and training employees.
Legal and Finance
From taxes to investment accounts, from reading financial reports to reviewing contracts, in this session find out what it takes to manage the family business money, investments and legal affairs. We will review case studies and discuss outcomes so you can better understand how business and labor laws work.
Sales and Marketing
Growing and evolving a family-business takes energy and dedication to sales and marketing. Discover key marketing strategies and tips to move the business forward. You will learn key components of a marketing plan, how to plan a social media calendar and why it is important to maintain open lines of communications both internally and externally.
Leadership and Governance
Learn the vast differences between managing and leading. In this session, we will share the characteristics of a leader so you can determine if you are fit to lead your family business. We will do some role modeling exercises and bring in family business owners and family members to lead a best practices roundtable among the group.
“Business acumen is not inherited. It has to be taught. We would much rather see the next generation continue to work in Connecticut, rather than take off for opportunities in other states,” said Kim Pita, co-founder, marketing consultant and chair of CBIA's Small Business Advisory Council. “We are eager to share our knowledge and expertise in critical business functions and how to manage complex family dynamics.”
The boot camp leadership team and facilitators also include Bob Sobolewski, CBIA Board Past Chair and founder, Bob Sobolewski Consulting and Kathleen Bolduc, founder, The Kildare-Pike Group, LLC.
The sessions are designed and led by business leaders who have worked in and run family businesses.
The introductory cost for this four-part series is $200. Class size is limited.
Learn more about Family Business Boot by following the organization on Facebook.
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