Family Business Breakfast Series
Friday, Sept. 21, 2018
If a family business has the goal of ownership continuity to the next generation, education and communication need to play key roles. In addition to teaching the next generation about the business, parents must help develop their talents to pursue a career path that’s the right fit, either in the family business or elsewhere. The owning generation must educate the upcoming generation about the business: balance sheets, strategy, values, how the business operates, and more. This helps members of the next generation make thoughtful decisions about entering the business and also educates them to be engaged owners.
At this breakfast event, we learn from Sandro Bonomi, a seventh generation entrepreneur with family business roots dating back almost 200 years. He is the CEO of RuB Inc., a small Italian valve manufacturing business he runs with his brother, Luciano. Forty years ago their father, Silvio, who founded RuB Inc., started selling outside of Italy, and the company now has additional international headquarters in Japan and Shakopee, Minn.
Two years ago the family embarked on a journey of educating its next generation, with a program finishing this September. Joining Sandro at this event, will be his son Luigi Bonomi, one of seven next generation members, age 16 to 30. We’ll learn about the educational system the family implemented to teach the next generation about the business and how to be productive owners, and helps them decide if they want to join as an employee. The family will share how a small business with European roots, competes on a global basis, all while creating a system to teach the next generation to be engaged owners of the family firm far into the future.
First-time attendees are invited to join us for breakfast as our guest to see if it meets the needs of your family. Regular registration for one breakfast is $200 per family or sign on for the whole season (seven breakfasts) for $1,250.
Friday, September 21, 7:30 a.m.
University of St. Thomas
Anderson Student Center
Woulfe Alumni Hall, Third Floor
St. Paul, Minn.
A note to family business advisors: The breakfast series is restricted to members of family businesses.