B2B Magazine – August/September 2023

From the Editor: Family Business Legacy Truths

Unless you’ve been living under a rock, you’re aware of the frenzy around the series finale of “Succession” earlier this summer. The Emmy Award-winning HBO MAX drama chronicled ultra-wealthy and abusive patriarch Logan Roy’s cutthroat game to see which of his children, Kendall, Shiv, or Roman—all entitled, self-interested, ethically challenged people—would take over the family’s mega entertainment company, Waystar RoyCo, which has become a cesspool of toxic behavior and criminal activity. At times, the show was hard to watch for all the cruel behavior and obscenity, but like a terrible car accident, it was virtually impossible to look away.

In the real world, however, surveys suggest the vast majority of family-owned legacy companies do not fit the Waystar mold at all. In fact, they’re viewed as more employee-friendly, trustworthy, and customer-oriented than the average business. Family owners are typically hardworking, more committed, and highly invested in the company’s success as well. The same things can be said of employee-owned businesses (ESOPs), which make up a growing number of legacy companies. Their longevity and success are directly linked to having created a respectful, collaborative work environment and owners having a “horse in the race.”

We feature several of these family- and employee-owned Omaha legacy companies in this issue of B2B, as well as profiles of inspiring and interesting professionals from other long-serving businesses in the metro… All Makes, Monarch Siding, Pinnacle Bank, Holland Basham Architects, to name a few. We honor their hard-earned success and thank them for their longtime contribution to our community. And in their case, we’re certainly glad life doesn’t imitate art.