“How-To’s”: Your Family Businesses’ Resiliency Depends on its Structure

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Your family business’s resiliency depends on its structure strategies for whether your business is solely owned, sibling controlled, or diffusely owned.  To truly understand the issues that impact a family business, you must see them for what they are: Family businesses are not a monolithic block, but rather a “species” with various sub-species, and any advice given to them should be tailored to fit that specific sub-species. At this workshop, we’ll identify the three types of family business, their structures and how to best develop a strategy to improve our opportunities for resilience and longevity.

Following this program is a workshop on developing a board of advisors… For more info an to register for that program visit: https://fambusiness.org/event/how-to-develop-a-board-of-advisors-workshop

Speakers:

Ted Clark, Director Center for Family Business, Executive Professor Entrepreneurship & Innovation, Northeastern University

Ted Clark is an Executive Professor of Entrepreneurship and Innovation at the D’Amore-McKim School of Business and was the Executive Director of the Northeastern University Center for Family Business for over 15 years. He has over 20 years of experience developing programs for and working with family businesses.  He is the author of “Understanding Family Business: Patterns of Ownership and Succession” and he is the co-author of “The Definitive How-To Guide for Developing a Board of Advisors for Family & Privately-Owned Businesses”.

Debbie Bing, President and Principal, CFAR

Debbie Bing is President and Principal at CFAR, a consulting and coaching firm with   decades of experience advising family enterprises. As a second-generation owner of CFAR, she draws on personal experience in working through the dilemmas of strategy and succession.  She helps create leadership, strategic, and continuity plans that bridge family, business, and owner interests. Debbie holds a Bachelor of Arts in Political Science and Peace and Conflict from Haverford College and a Master’s of International Law and Diplomacy from the Fletcher School at Tufts University.

Family Business Panelists:

Kim Wolak, President and Franchise Owner, The Wolak Group (solely owned – 2nd generation)

You can pretty much say that Kim Wolak was born at a Dunkin’ in Portland, Maine.  As Ed Wolak’s daughter, Kim grew up watching the business grow from 1 location to 100 and seeing her father do everything from baking donuts to becoming the CEO and philanthropist he is today.  Although Dunkin’ was Kim’s first job as a teenager doing everything from counterwork to baking and becoming a Franchise Owner in 2000, she actually pursued other skills in brand development, operations management, and direct to consumer marketing and sales.  Prior to rejoining The Wolak Group in 2010 in an active leadership role, Kim managed specialty optic filter sales and rental in the film industry in Los Angeles, then honed her skills in brand development and direct sales management in the wine industry, based in Napa and Malibu, CA.  Kim currently serves as Vice Chair of the Maine DMA (Designated Marketing Area) Ad Committee and Co-Chair of the Maine Franchise Owner’s District Advisory Council.  She also serves as member of the Dunkin’ Brands People Systems Sub Committee, Dunkin Brands Government Affairs Sub Committee and Dunkin’ Brands Sustainability Practices Sub Committee. Although The Wolak Group is Kim’s full-time life, she also enjoys a life of balance being a Mom to her two sons and two step sons, Cameron (16), Tyler (15), Easton (13) and Jaxon (9) and wife to her husband Chris.  Being with them and around them as much as she can is paramount whether it be on the baseball field, football field, hockey rink or at the trampoline park.  She also enjoys riding and competing in horseback riding, traveling, cooking, learning about (and drinking!) wine, exercising and constantly learning more about personal and leadership development.

Joe Capozza III, President, President of Capozza Floor Covering Center and Old Port Specialty Tile Co. (sibling owned – 3rd generation)

Joe Capozza is President and part of the 3rd generation now managing Capozza Floor Covering Center and Old Port Specialty Tile Co. He also oversees the operations of its Commercial Projects Division. Joe graduated in 2005 from Bryant University with a BS in Business Administration.  From 2006-2009 he worked for Bentley Prince Street, a Commercial Carpet Manufacturer, as a Sales Representative in Maine, New Hampshire, and Vermont. In 2009, he joined the family business as a Commercial Project Estimator & Project Manager and was named Vice President in 2014 and President in 2022. He is the Chair of the IFOB Board.

Katie Capozza, Vice President, Capozza Foor Covering Center and Old Port Specialty Tile Co. (sibling owned – 3rd generation)

Katie Capozza joined the team at Old Port Specialty Tile Co. in 2005 as Assistant to the Showroom Manager and ever since, she has enjoyed evolving in the world of everything tile. Over the years, she has flourished in the industry, experiencing some of the most exciting and innovative trends of the specialty tile business. She believes that it was no accident that she ended up in “the biz” as tile has always had a large presence in her life. Her grandfather started their parent company over 40 years ago, then in 2000 her father decided to delve deeper into the growing world of specialty and custom tile offerings and Old Port Specialty Tile Co. was born.  Today, she serves as the Showroom Manager and Senior Project Manager for many of their beautiful projects, and she is honored to be a part of them. As the team transitions into the third generation of their family business, she is also very involved in the leadership team for both stores, working alongside her parents, siblings, and most loyal, long-term employees. She is passionate about the industry and collaborating with her clients and vendors. She very much enjoys working with the medium of tile, but most importantly, she has a great respect and appreciation for the relationships the team has been fortunate enough to develop with their clients over the years, and she looks forward to many more to come!

Tia Green, Vice President, Capozza Floor Covering Center and Old Port Specialty Tile Co. (sibling owned – 3rd generation)

Tia Green, formerly Tia Capozza, grew up working in the business and to her, everyone in the building is family. Many of the employees have known Tia since she was young and she hopes that they are proud of the leader that she has become. In 2009, Tia graduated from the University of New Hampshire with a degree in Communications. During college, Tia took interest in the non-profits that Capozza Tile Company aligned with and interned at the Barbara Bush Children’s Hospital’s Development office. Tia’s various related employment experiences brought her back to the family’s business where she took a full-time sales position in 2011. Tia enjoys flooring; she believes that it is always evolving, interesting, and fun. She loves to see a project from start to finish. Her zest for the industry has been paired with her love for working with her family and their team. As Operations Manager of the Residential Flooring Division, Tia’s core values still stand; work hard, set a good example for her team, and be there for her fellow employees and clients.

Clara Collins, Operations Manager, S.W. Collins Company (diffusely cousin owned – 6^th generation)

Clara Collins joined S. W. Collins Company in 2020. Prior to returning home, Clara attended Northeastern University where she graduated with her BSBA with concentrations in finance and supply chain. Since rejoining the family business, Clara has taken on several roles and responsibilities. As operations manager, she collaborates with pioneers throughout the business, and works with them to implement changes to improve efficiency, benefits, and overall company operation. In addition to her role with S. W. Collins, Clara currently serves on multiple boards including the Caribou Economic Growth Council, the Caribou Organization Promoting Public Safety, the UMPI Foundation, and as Vice President of the Retail Lumber Dealer’s Association of Maine.

Adam Collins, Store Manager, S.W. Collins Company (diffusely cousin owned – 6th generation)

Adam Collins is a part of the 6th generation of owners to lead S.W. Collins in to its future. Adam is the store manager of the Presque Isle branch and is involved in purchasing commodities for all locations.  Adam is also heavily involved in homeowner and contractor sales which includes selling windows, doors and all other aspects of building materials. Adam is a graduate of the University of Maine where he received a degree in Finance and Management.