Successful Strategies in Business Ownership and at ABI

Welcome to another edition of ABI’s monthly newsprint magazine, Business Record Iowa.The focus of this month’s edition is successful succession, which is always a popular topic for ABI members. One of my favorite quotes about succession is by John Maxwell: “A leader’s lasting value is measured by succession.”

ABI members love their companies as they do their families. They care about their employees. A big part of that care is ensuring there is a plan for success when it is time to transition to new leadership. So, among other things, this month you’ll read about transitions involving employees through ESOPs (Employee Stock Ownership Plans). This is a growing and winning strategy for many Iowa companies.

Other succession strategies, such as transitions among family members and transitions through a sale of a company to new owners will be featured by ABI in the future. Let us hear from you about issues that impacted your own successful succession. And watch for news about upcoming programs related to this subject.

In the meantime, summer does not mean anything slows down for ABI. Last month, ABI hosted meetings all over Iowa related to our annual policy development work and also held the annual Business Horizons program at Central College in Pella. This month, it is more of the same. The ABI Foundation is incredibly busy with programs such as Leadership Iowa University and others. Policy work continues with annual policy committee meetings.

Let me also note that I was struck by the conversation at last month’s annual ABI Okoboji CEO Forum. I can share with you that attendees enjoyed the program and enjoyed being together. There was discussion of challenges, but even more discussion of ways those challenges were being addressed. And there was a great deal of discussion about the strong state of Iowa business. That was good to hear.

Watch for news from me about metrics and ways we are working to advance ABI throughout the fiscal year. For now, let me again thank you for your support and leadership. At ABI, these are never taken for granted.