Prairie Family Business Association

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Prairie Family Business Association We are the premier resource for helping family businesses thrive for generations. Visit fambus.org

Prairie Family Business Association is the premier network of resources to help family businesses thrive for generations. We provide family businesses with the tools to grow, engage, transition, and prosper through high-quality education, networking, and collaboration. Founded in 1992 as an outreach center to the University of South Dakota Beacom School of Business Professionals, the Prairie Family Business Association helps family businesses throughout the United States navigate the complexities of being in business together. Our membership offers a unique opportunity for all generations to learn and connect with family business experts and other enterprising families through our distinguished annual conference, ongoing educational programming and webinars, networking events, and affinity peer groups. Learn more about our work and how we support your family business success at fambus.org.

10/22/2026

🎙️ What does it really take to prepare the next generation to lead a family business?

A successful generational transition involves more than transferring ownership. It takes thoughtful planning, open conversations, and a shared vision for what comes next.

In this week's episode of the Family Business Connection podcast, Agatha Johnson of WillKate and Kyle Hohn, third-generation owner of MDS Manufacturing Co. Inc., join us to discuss the decisions, challenges, and commitments involved in transitioning a 50-year-old family business.

Together, they explore why succession planning should begin with conversations about the future, the importance of including both shareholders and stakeholders, and how the next generation can prepare to step into leadership.

Because building a lasting family business isn't just about what one generation leaves behind. It's about preparing the next to carry it forward.

🎧 Listen to "Your Legacy, Their Future" on your favorite podcast platform or at fambus.org/podcast.

Thrive for Generations.

A family business board should not be built around convenience.Your accountant, customer, or college roommate may be tru...
10/21/2026

A family business board should not be built around convenience.

Your accountant, customer, or college roommate may be trusted people, but that does not automatically make them the right fit for a board seat.

A strong board brings outside perspective, accountability, and experience that matches what the business will need next. That may include independent business leaders, industry knowledge, strategic thinking, and people who understand the family’s values.

For family enterprises, both fit and objectivity matter.

The right board can help family leaders ask better questions, make stronger decisions, and prepare for what comes next.

When choosing board members, start with what the future requires.

Thrive for Generations.
fambus.org

10/19/2026

Strategic planning is one of the three keys to long-term family business success. Getting started can be the harder part.

When families are balancing questions about leadership, ownership, governance, and the future, an outside perspective can help identify what deserves attention first.

Assistant Director Mason Van Essen shares how PFBA’s Family Business Action Plan gives families dedicated time to step back and look at where they are today and where they want to go next.

Through a three-meeting process, an independent team of advisors gets to know your family business, develops recommendations, and presents an action plan to help guide your next steps.

The Family Business Action Plan is included with PFBA membership, with openings available for Q4 2026 and Q1 2027.

Learn more at fambus.org/membership

Thrive for Generations.

10/15/2026

🎙️ Everyone's in sales, whether they have the title or not.

In a family business, building relationships and earning trust are part of everyday operations. But what does it take to develop the next generation of sales talent?

In this week's episode of the Family Business Connection podcast, Rand Wergin and Michael Cuperus of the University of South Dakota's Beacom School of Business join us to discuss their new Sales Center and how hands-on experience is preparing students for careers in sales.

The conversation explores why great salespeople need more than classroom instruction, the importance of face-to-face interactions, and how family businesses can recognize and develop sales talent within their own teams.

Because when it comes to sales, there's only so much you can learn from a textbook. The real learning happens when you put those skills into practice.

🎧 Listen to "Everyone's in Sales" on your favorite podcast platform or at fambus.org/podcast.

Thank you to The University of South Dakota Beacom School of Business for sponsoring this episode and for their continued support of family businesses.

Thrive for Generations.

10/13/2026

A major generational transition is underway for family businesses across North America.

As more owners prepare for what comes next, families are facing questions about succession, ownership, responsibility, and how to prepare the next generation to carry the business forward.

PFBA Executive Director Eric Erickson shares perspective on the scale of today’s wealth transfer and a few surprising statistics that help put this generational shift into context.

For family businesses, these transitions can take years to prepare for. Starting the conversation early gives families more time to think through leadership, ownership, and the role the next generation may play.

Hear Eric’s perspective in this clip from KELO Radio 1320 AM’s “It’s Your Business.” Thank you to Bill Zortman and Rock Nelson for the conversation.

Thrive for Generations.
fambus.org

10/08/2026

🎙️ When something goes wrong in your family business, who do you call first?

For Kara Peterson, VP of Operations and part-owner of G&H Distributing Inc., that question became very real when an unexpected crisis put the business, its systems, and its response plan to the test.

In the newest episode of the Family Business Connection podcast, Kara shares what unfolded in the first 24 to 48 hours, the decisions her team had to make quickly, and why the trusted advisors already in their corner made such a difference.

The conversation also explores the gaps that can develop when a business operates with an “if it ain’t broke, don’t fix it” mindset, especially as technology and potential threats continue to change.

🎧 Listen to “The First 48 Hours” on your favorite podcast platform or at fambus.org/podcast.

We’re grateful to Eide Bailly for sponsoring this episode and for their continued support of family businesses.

Thrive for Generations.

One week away.As your family business grows, how do you make sure your people are growing with it?Join PFBA on October 1...
10/07/2026

One week away.

As your family business grows, how do you make sure your people are growing with it?

Join PFBA on October 15 at 12 PM CT for “Developing Talent to Match Your Strategic Ambition: Don’t Let Your Business Outgrow Your People.”

Mike Meagher, Founder and CEO of Sagency, and Dr. Matt Skoy, Head of Leadership and Talent, will explore:

• How to connect talent development to business direction
• Where gaps in skills and leadership may exist
• How to prepare current team members for what comes next
• How to develop leaders before growth puts added pressure on the organization

The conversation will give family business leaders a stronger framework for thinking about the people side of growth.

📅 October 15 | 12 PM CT
🔗 Register here: bit.ly/4zt7HDI

Thrive for Generations.

Family businesses are often economic anchors in their communities, which makes succession and continuity an economic dev...
10/06/2026

Family businesses are often economic anchors in their communities, which makes succession and continuity an economic development issue too.

Recently, PFBA Executive Director Eric Erickson joined Aggie Johnson, Founder of PFBA sponsor WillKate, at the EDPA Annual Conference for a breakout session on “Passing the Torch: Why Family Business Matters to Economic Development and Community Stability.”

Together, they explored how economic development professionals can better support family-owned businesses as they prepare for leadership, ownership, and generational transition.

Attendees also received PFBA’s Family Business Checkup, a tool designed to help family businesses start conversations around leadership, ownership, governance, and planning for the future.

Take the Family Business Checkup: fambus.org/family-checkup

Thrive for Generations.

10/05/2026

Outside perspective can help a family business see what is harder to recognize from inside the company.

For Cloverdale Foods Company, an advisory board brought fresh thinking, challenged assumptions, and helped leaders consider where the business should focus next.

Family businesses often carry deep history, strong values, and long-standing ways of operating. Over time, that can make it harder to step back and ask:

What needs to change?
Where should we focus?
What are we missing?

A well-chosen board can help family leaders examine those questions with people who understand the business while bringing a different point of view.

Hear how Cloverdale Foods Company has put outside perspective to work.

Thrive for Generations.

A great evening with the PFBA community in Des Moines!Our September Member Mixer brought family business leaders togethe...
10/02/2026

A great evening with the PFBA community in Des Moines!

Our September Member Mixer brought family business leaders together to connect, catch up, and spend time with others who understand the opportunities and challenges that come with leading a family business.

These gatherings continue to create space for relationships, shared perspective, and conversations that often carry well beyond the event itself.

Thank you to everyone who joined us in Des Moines. We always appreciate the time together.

Thrive for Generations.
fambus.org/membership

Address

Sioux Falls, SD

Opening Hours

Monday 8am - 5pm
Tuesday 8am - 5pm
Wednesday 8am - 5pm
Thursday 8am - 5pm
Friday 8am - 5pm

Telephone

+16052749530

Website

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