There is wisdom in family business. And the winners and finalists of the 2017 Minnesota Family Business Awards are happy to share.
On the following pages, Twin Cities Business looks at the lives and accomplishments of five notable family-owned and -run Minnesota companies. How do family members work together? How do they prepare the next generation for leadership? How do they maintain their success? How do they confront challenges and changes—and how do they adjust to them?
One of the key takeaways this year is how dedicated the honorees are to their employees and the communities they serve. The commitment to giving back has carried on as their companies have evolved and as the business passes from one generation to the next. That dedication, along with exceptional customer service and innovative thinking, has helped each of these companies grow and expand.
In sum, family businesses have much to teach businesses of all kinds about managing for success and balancing the needs and contributions of those who work for them.
In addition to the winners and finalists of the 2017 Minnesota Family Business Awards, Twin Cities Business is spotlighting Allen Bettis, the winner of this year’s Hubler Award for a Multidisciplinary Approach to Working with Family Businesses. The Hubler Award recognizes those who’ve provided exceptional contributions to the betterment of Minnesota family businesses.
The honorees of the 2017 Minnesota Family Business Awards were carefully chosen by a committee comprising Michael Carlson, financial services audit senior manager, Wipfli LLP; Jim Collins, director of commercial and private banking, Anchor Bank; Greg Hirsch, manufacturing and general services audit partner, Wipfli LLP; Tom Hubler, owner, Hubler for Business Families; Jessica Manivasager, shareholder, Fredrikson & Byron PA; Paddy McNeely, chairman and CEO, Meritex Enterprises Inc.; Ritch Sorenson, professor of entrepreneurship, Opus Endowed Chair in Family Business, University of St. Thomas; and Dale Kurschner, editor-in-chief, Twin Cities Business.
Allen Bettis helps family-run companies prepare for their futures by creating boards.
Because this family understands its limitations, their company has experienced remarkable growth.
A good example set by the first generation has allowed the second to carry on the company’s legacy of supporting employees and the community.
Twin Cities Business and its sponsor partners recognize these successful
Minnesota family businesses and the values they perpetuate.
By putting its communities’ needs first, this community bank has entered its second century of family ownership.
The retailer excels by offering exceptional customer service and selling high-quality brands.
A family dedicated to helping people in need has transformed a single-property operation into one of the state’s largest providers of housing and support to people dealing with chemical dependency and mental illness.