A Season of Growth – Letter From The President

Dear EFBC Members,

With October ending soon and us moving towards November, we find ourselves in a season of focus and determination. It’s a time for Midwesterners to buckle down and turn their attention to business strategies and plans for the year ahead. Here’s what’s happening in our EFBC community this November.

For those who participated in our forum retreats last month, November presents the perfect opportunity to put those newfound leadership skills and perspectives into action. Take the insights gained from your retreat experiences and apply them to your daily endeavor’s family & Business. Let this be a season of growth, both personally and professionally.

As we dive into November, here are a few key highlights to look forward to:

• Leadership 2.0 ends tomorrow, Oct 25th
• Nov 2nd Sales and Marketing round table
• Nov 8th finance round table
• Nov 15th Flex Forum

Keep an eye on our event calendar for details on these opportunities to connect with like-minded professionals.

As we move forward into November, let’s remember that our strength lies in our collective determination and dedication. EFBC is more than just a business group; it’s a community that supports, empowers, and uplifts one another.

Thank you for being an integral part of our dynamic EFBC family. Your contributions and commitment are the driving force behind our shared success. Here’s to a focused and productive November!

Dave Horvath
EFBC President 2023-2024

Rewiring, Not Retiring

Retirement is a golden period, a time to relax, enjoy the fruits of your labor, and finally do all those things you’ve dreamt of for years. However, for many, no longer doing the work you’ve been a part of for decades can also bring a sense of loneliness or a lack of purpose. The good news is that it’s never too late to embark on a new journey, and retirement can be the perfect time to discover a new passion or endeavor that adds fulfillment to this chapter of your life.

One of the remarkable aspects of retirement is that you finally have the time to explore what truly interests you. Start by taking a trip down memory lane. Think about the activities or hobbies that once brought you joy but were put on hold due to your busy working life. Did you have a love for painting, gardening, or playing a musical instrument that you couldn’t fully pursue? These interests could hold the key to your new passion.

While reflecting on past interests is a great starting point, don’t limit yourself to the familiar. Retirement is the perfect opportunity to step out of your comfort zone and try new things. Consider taking a class or workshop you’ve always been curious about. It could be learning a new language, trying your hand at pottery, or exploring the world of photography – new experiences of any kind could ignite a spark within you.

Building connections with like-minded individuals can play a crucial role in discovering your new passion. Join clubs, social groups, or online communities centered around your interests. These connections can provide valuable insights, support, and motivation. Surrounding yourself with people who share your new passion can be a key to continued enjoyment of this endeavor.

Retirement is also an excellent time to explore opportunities for giving back to the community. Volunteering can be an experience that not only provides a sense of purpose but also exposes you to new interests and passions. Whether you’re mentoring young adults, helping at a local animal shelter, or contributing to causes close to home, there are countless ways to make a positive impact.

Finding a new passion or endeavor in retirement may not happen overnight. It’s essential to be patient with yourself during this process. Your first attempt may not lead to a new lifelong passion, and that’s okay! The key is to remain persistent and keep exploring until you discover what truly resonates with you.

Retirement is a time to celebrate life, and your journey of discovering a new passion is a significant part of that celebration. Be proud of your efforts and achievements, no matter how big or small they may seem. The joy is in the journey itself, and the fulfillment you find in your newfound passion will make retirement an even more enriching and exciting phase of your life.

In conclusion, retirement is not the end of the road but a new chapter waiting to unfold. By embracing change, reflecting on your interests, connecting with others, and staying persistent, you can successfully rewire yourself to find a new passion that brings purpose and joy to your retirement years. Remember, a new adventure might be exactly what you need to make the most of this exciting phase of your life. Happy rewiring!

Meet Gregory Cooney, Owner and Partner CMO of Educational Environments

Get to know Gregory, a new member of the EFBC.

Educational Environments
Founded: 1967
Location: Elk Grove Village, IL

Tell us about your career leading up to where you are now:
Well I’ve been at Educational Environments much longer than I care to admit! I worked in menswear as a buyer for a time before starting here, but I basically grew up in this business. My father owned the company, but my brother, my sister and myself have run it for 40 years now. The company itself has been in business for 56 years. I joined thinking it would be something transitional but ended up liking the work, so I made a career out of it. My focus is in sales, marketing, and design.

What do you like most about what you do?
Having the focus of providing furniture solutions that encourage new learning models and ways of teaching that are more relevant to students today makes it very engaging to be doing this work.

How did you hear about the EFBC?
Interestingly enough I heard about it from a “friendly competitor” also in this field! They had been involved in EFBC for a number of years, and I was speaking to him at a conference where he mentioned EFBC to myself and my daughter as something that may benefit our company.

Why did you join, and what do you hope to gain from your membership?
Looking for resources around succession planning or a transition to a new generation of the family was important to me. Learning more about Forum and doing my first Forum session, now my team and my daughter’s are more interested in joining Forum too. It’s really nice to have those outside resources, especially when you’re a family business, because it’s easy to get tunnel vision. Having these outside influences helps us to avoid that tunnel vision and the different perspectives are something I really appreciate and can learn a lot from.

Join us in welcoming Gregory to the EFBC community.

Purpose First Entrepreneur – EFBC Book Review and Takeaways

The EFBC is always on the lookout for works that may support our members and community in different ways. Whether it’s a whitepaper from our Strategic Partners, programming led by EFBC community members, or thought-provoking reads members may enjoy, we want to share the wealth of knowledge that comes from the people around us! Today we are reviewing Purpose First Entrepreneur, a book from upcoming Fireside Chat speaker Pete Wilkins, and sharing some key takeaways for anyone interested in EFBC!

Purpose First Entrepreneur opens with Wilkins explaining his road to discovering his purpose in entrepreneurship, a road that left me stunned at the resilience displayed. Through a series of events that each seem more catastrophic than the last, Wilkins weaves his story of setbacks leading to an important self-discovery. In Wilkins’ case, this was the discovery of his vision for what he wanted to work toward in his life and career – something that EFBC members are likely closely familiar with, as many of them likely found themselves in similar situations, starting businesses based on their discovered passions and purposes.

Wilkins spends time helping the reader define their vision early in the book through guiding questions. If you’ve read other books in this genre, you are likely familiar with people asking, “What do you enjoy doing?” and “What are you good at?” to determine your purpose. Wilkins adds an additional layer to these questions, asking, “How will you make the world better?” This rounds out a purpose further and helps to connect the reader with the world around them instead of focusing solely on themself. This connection with a community around the entrepreneur is central to the themes of EFBC – from forums to dinner events to simply calling another member up to chat, helping make those around you better is at the core of our beliefs.

“Purpose First Entrepreneur” is a fitting title for the book as Wilkins guides the reader through the discovery of their purpose but doesn’t ever forget the entrepreneur promise made by the title. There are in-depth examples of how someone might go from the initial purpose discovery to the launching of their business to some of the tools or strategies that these people may employ, and even further into how someone might seek funding for their business. While many of our members are past this stage of their business development, receiving this level of detail on funding and investing will still be useful to much of our community!

The depth given regarding the business side of being a purpose-first entrepreneur is impressive – especially regarding growing the business. This should be no surprise due to the author’s perspective as a venture capitalist who has seen many companies go through this growth first-hand. That said, Wilkins also knows when to refer to another expert in the field and is not shy about sharing resources that help the reader’s understanding when a topic might be too off-path for this particular book.

Wilkins explains that while there are many things about an entrepreneur’s journey that they can control, there are uncontrollable factors that each person may have to overcome; this demonstrates a level of consideration for people who may typically be disenfranchised by works aimed at potential entrepreneurs. EFBC is all about uplifting each other to overcome obstacles, so this sits well with us! To consider those who may need additional support from their surrounding community is to show a degree of care that EFBC strives to instill in its members.

Throughout this book, Pete centers on the entrepreneur’s well-being, not just in a business sense but in a holistic sense. There’s an emphasis on maintaining one’s emotions and relationships with others while building their vision. That’s refreshing and is a core reason EFBC reached out to Wilkins about speaking at an event with us, given our insight into emotional intelligence and how it relates to entrepreneurs and family-owned businesses.

Purpose First Entrepreneur was a compelling read. It helps that alongside the book, the reader gets a worksheet that directly guides them through the process laid out by Wilkins. The story is encouraging, the advice is accessible, and the writing is engaging. If you’re interested in what you’ve read here – which was a surface-level look into the information offered by Wilkins – it’s worth a read. That is even more true if you plan on being at EFBC’s Fireside Chat on October 26th with a chat by Pete Wilkins himself.