NextGen Peer Group
Younger members of the family who work in the family business often do not have a good place to turn for input about the challenges they face. Co-workers who are not part of the family cannot help. Family members are sometimes part of the problem – not the solution. Lawyers, accountants and financial advisors tend to look at problems from their area of technical expertise.
NextGen Peer Group members face difficult challenges in fulfilling roles as employees, family members, and often as shareholders and board members. Growing in and balancing the demands of these roles requires the conscious cultivation of leadership skills, judgment, and communication skills. In the NextGen Peer Groups members aspire to become leaders and better people by sharing those challenges in an atmosphere of confidentiality, trust, and respect.
Who should join?
Next-generation family business leaders who:
- Are members of FBA and work in the family business
- Are interested in a future leadership role as owners, board members, and/or executives
- Are mid-level management of businesses
- Want to share and learn from their peers on a range of family business issues
- Want to connect with peers from some of the best family business leaders in West Michigan
- Are looking for a safe, confidential, friendly, and structured setting
Please Note: Networking primarily for lead generation is not a program goal.
“Learning about how to bring up sensitive issues, and dig deeper and share more with a group of peers helps to you feel not alone. The structure of respect, confidentiality, and knowledge helps you grow as a NextGen business owner. The training helped inside the business setting, but also within my own family.”
– Peter, NextGen Group Member
“The FBA’s NextGen Peer Group program has been a HUGE impact on my personal development and has given me an amazing group of friends who are very talented, resourceful, and absolutely trustworthy. Nobody understands family business like those involved in them. This is both a learning environment and a support group…”
– Troy, NextGen Group Member
What To Expect
- The FBA team will assign members to groups based on company size and other factors
- No family members or competitors will be included in the group
- The Group will meet 10-12 times per year for a three-hour meeting
- The Group will be led by a trained volunteer moderator
- A high level of confidentiality from all participants including group members, moderators, and any FBA staff.
- Opportunities for presentations by an outside expert on group selected topics, discussion, or relevant reading topic.
- A facility tour of each member’s organization and overview of services
- The opportunity to present an issue and gain peer-driven feedback
- One-time $500 training fee
- Transitioning the Leadership Role
- Professionalizing the Family Business
- Conflict and Communication in the Family Business
- Developing Family Policies, Family Council, and Family Constitution
- Compensation Issues in the Family Business
- Working Effectively with the Senior Generation
- Innovation and Differentiation that Creates Growth