A Study in Succession Planning with Jane Blain Gilbertson (Blain’s Farm & Fleet)

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The Road to Why

The Northern Trust Institute

28 episodes

2 months ago

From start-up entrepreneurs to multi-generational family business owners, most founders are driven to succeed for reasons well beyond making money. Whether it’s a passion for reshaping their industry, building a family legacy or advancing the causes they care most about — or, in many cases, all of the above — exploring the larger “why” of their life’s work offers insights into how successful leaders operate and what is really important to them. On The Road to Why, host Eric Czepyha, Director of Business Services at Northern Trust, speaks with business owners, entrepreneurs and visionaries about business, family, wealth and legacy and shares advice and life lessons from those who have found success in ways expected and unexpected.

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Entrepreneurship

Business,

Investing

A Study in Succession Planning with Jane Blain Gilbertson (Blain’s Farm & Fleet)

The Road to Why

32 minutes

8 months ago

A Study in Succession Planning with Jane Blain Gilbertson (Blain’s Farm & Fleet)

In 1955, Jane Blain Gilbertson’s parents started Blain’s Farm & Fleet in Janesville, Wisconsin. Today the business has grown to 45 stores across four states.

Jane shares how over the past 40 years she took over the business from her father, consolidated ownership, welcomed her two daughters into the business, and is now passing the CEO baton to the next generation of leadership.

In our episode, Jane will discuss:
(1:10) – What was Jane’s upbringing like?

(2:43) – How was Jane first introduced to the family business?

(5:21) – Was there an expectation for Jane to join the company?

(7:52) – What was the process of growing within the company and taking on more responsibility like?

(12:49) – Why are advisory boards so important?

(15:31) – How did Jane’s daughters come to join the family business?

(21:35) – What has Jane learned from watching her daughters grow in their roles?

(24:14) – What are Jane’s thoughts on succession and the future of Blain’s Farm & Fleet?

(27:05) – What are Jane’s plans now that she’s stepping back from day-to-day operations?