Betts Company: An Evolution Through Six Generations

Betts Company: An Evolution Through Six Generations

Family businesses make up a huge part of the US economy, yet many do not successfully succeed to the next generation. Only about 3% of all family businesses operate into the fourth generation or beyond. The Betts Company is beating the odds to say the least. The Betts Company, which is a large supplier of springs, has thrived for 150 years and for six generations. The current CEO, Mike Betts, credits the business’s longevity to its history and its founder, William Michael Betts I. History William came to the United States from England as a blacksmith in 1860, and became Continue Reading…

next generation leaders

Strategies for Developing Next-Generation Leaders

The Family Business Consulting Group works with over 2,300 family businesses from over 70 countries, addressing issues faced by family-owned businesses. A common issue? Succession planning. Now, with multiple generations working in the business at the same time, there are certain tactics family business owners can use to train the younger generation well in advance before any succession takes place. It’s important to take advantage of this time if you are looking to not only preserve your family’s legacy, but also sustain your business’ success and plan for future growth. The consulting group’s newsletter this month features advice for developing next-generation leaders. Stephen P. Continue Reading…

Family Comes First at FTB Print & Mail

Family Comes First at FTB Print & Mail

In 1992, the Clark family opened a bindery business to provide finishing capabilities for local printers. Twenty-one years later, the family-owned and operated business has grown to be a printing and mailing competitor to the same businesses it once served. Family comes first. But Jim Clark, and his son Michael, know that being able to honestly discuss their weaknesses and strengths in the workplace helps ensure that work stays successful too. Jim may be older, but he admits to not always being wiser when it comes to what younger generations want. He relies on his sons to give better insight Continue Reading…