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As the success of the recipients of the State Farm Family Business Award demonstrate, every business owner needs a succession plan.

Business owners are invited to learn what it takes to achieve a successful exit from, or continued success of, the business that is the culmination of your life’s work on Family Business Day, Friday, October 6, in Bozeman at the Best Western Plus GranTree Innc. The workshop is from 10-11:30 am.

The eight businesses featured in this issue will receive Family Business Day awards at the luncheon which follows the workshop.

Alistair Stewart, Senior Business Advisor with the Montana Manufacturing Extension Center (MMEC), will present the  free 90-minute workshop that will arm every business owner with actionable transition-planning insights.

Luncheon speaker will be Lachlan Perks, who will present “Driving Success by Aligning Your Business Strategy with the Family Vision” which will provide tools for utilizing the family vision and assumptions to determine the ownership plan and, subsequently, strategies for success.

Lachlan graduated from Montana State University in 1979 with a B.S. in Construction Engineering and began his career as a project engineer. In 1981 he joined his family’s manufacturing business as a development engineer and later transitioned into sales and marketing. His ability to actively hear the problems of worldwide customers and create unique reliable solutions led to his promotion to leadership of the entire company.

Eclipse Inc. grew under Perks’ 10 plus year leadership from $85m to $125m and into a company with manufacturing facilities in six countries and sales in every industrialized country. The company was sold in late 2014 and is now a part of Honeywell. Today, Lach focuses on managing his ranches, competing on cutting horses, serving on various boards and mentoring CEOs.

Funding for Family Business Day is provided through the MSU Jake Jabs College of Business & Entrepreneurship State Farm Insurance Family Business Program endowment, established in honor of Robert Jaedicke in appreciation of his service on the board of directors for State Farm.

Additional support is provided by the Montana Chamber of Commerce and WIPFLI CPAs and Consultants