the
THE IMPORTANCE OF A SUCCESSION PLAN PAGE 8
January 2023 | Volume 36 | No. 1
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of the rockford business community
Building a lasting legacy
ROSECRANCE, ROCKFORD PUBLIC SCHOOLS PARTNER FOR STUDENTS
Rockford businesses spanning multiple generations By Andrew Wright, Director of Strategic Initiatives, Rockford Chamber of Commerce Aspiring business owners and entrepreneurs dream of building a company that will become a testament to their acumen, create generational wealth and, perhaps, bear their family name for decades to come. Since 1839, business owners and innovators have been drawn to the Rockford area. It’s not uncommon for local businesses to celebrate 50, 75 or even 100 years in business in our community. Three local companies shared with us how they’ve helped design and build much of Rockford through the decades, how their legacy companies have survived through booms and recessions, how they passed through multi-generational leadership and how they plan to thrive in the future.
SCALING UP
Schmeling Construction Co. 315 Harrison Ave, Rockford 120 years E. W. Schmeling & Sons was founded in 1903 by Emil Schmeling, and his five sons joined the business taking responsibility for the day-to-day operations. In 1970, the construction division, once led by Emil’s son Elmer, became Schmeling Construction, led by Elmer’s son Roger. Today, the fourth-generation Schmeling son, Steve, is the president of Schmeling Construction Co. “My father got me involved very early in the decisionmaking process of the company,” Steve said. “I got involved in the financials, making decisions on buying insurance for the company. He let me get involved early in my career, make my own mistakes, and he talked to me about ownership. He was never reluctant to let me take over. I know that generational change is a big challenge when the older generation can’t let go, but that wasn’t the attitude we had here.” Steve’s son Peter is rising through
the ranks as a project manager and estimator. “I’ve been here six years, going on seven, and I’m diving into the financials, making decisions on things like equipment trucks or office renovations. I’ve always been involved.” For the Schmelings, transition planning is a years-long process. “If you’re waiting until you’re 60, you’re too late,” Steve said. “Communicate your plan. Talk about death and taxes. Communicate everything from personal life to business operations if you’re going to pass it to your family’s next generation.” For Peter, absorbing and applying that information is key. “The biggest thing is sitting back and listening to that past generation, while bringing your ideas to the table. Understand that generational track record of failures and successes throughout the years.” One thing that’s necessary to pass along a legacy is to have a business valuable enough to continue. (continued on page 6)
Meeting members’ needs
Rosecrance and Rockford Public Schools have teamed up to help students experiencing socioemotional or behavioral concerns. Through this collaboration, which began in February, a team of behavioral health student assistance professionals (BH SAP) is embedded in RPS 205 schools. “The past couple of years have been tough on our students, and we want to make sure that we can provide support for each of them,” said Amy Gannon, director of the RPS 205 multi-tiered system of supports program. Students who may need extra support are identified by their teachers and referred to a team, which includes the Rosecrance BH SAP. “By placing BH SAPs in each school, we’re making it much easier for students to seek and receive help,” said Sadie Cobio, director of community based programs at Rosecrance. The 16 positions are being funded through grants received by each organization.
THE UPDATE
Feb. 2 | 9:00-10:30 NIU Rockford 30 minutes of networking; 60 minutes of updates
Chamber priorities for 2023 The turning of the calendar once again offers a fresh start for a new year. Although ongoing health challenges, workforce needs, economic instability and foreign turmoil color the outlook, there are plenty of ways for organizations to take hold of their future and work to grow their business. Your to-do list for the New Year might be daunting, but the Rockford Chamber of Commerce is here to help. We’ll help you make a lasting positive impact on your business in 2023. This year, the Chamber is offering new programs, restructured events and solutionsoriented offerings. See our refreshed website, www.rockfordchamber.com for details. Here are a few highlights of what you can expect in 2023:
NEW EVENTS Speed Networking – A networking
classic, it offers face-to-face networking THE VOICE IS PUBLISHED BY
in an efficient setting with maximum time for connecting. With a limit of 20 seats per session, attendees will create a follow-up pipeline that’s manageable but large enough to create real value. Feb. 23, 8:30-10:30 a.m. March 23, 11 a.m.-1 p.m. April 27, 3-5 p.m. May 25, 8:30-10:30 a.m. June 22, 11 a.m.-1 p.m.
Join the Chamber on Social Media
The Voice is online at rockfordchamber.com
Aug. 24, 3-5 p.m. Sept. 21, 8:30-10:30 a.m. Oct. 26, 11 a.m.-1 p.m. $15 to attend, locations vary
Coffee on the Chamber – Partner with the Chamber to support a member coffee shop and increase your organization’s exposure. Perfect for B2C organizations, this opportunity allows your company to build credibility and goodwill with the general public. The Chamber will organize a partner event with one of our member coffee shops and your organization. Then we’ll pick up the tab for one beverage per person, in-store during a set 90-minute time frame. The Chamber will create a co-branded card for your representatives to hand out to patrons explaining the complimentary beverage and allowing you to share more information about your organization. (continued on page 3)
YWCA ACCEPTING NOMINATIONS FOR WOMEN OF ACHIEVEMENT AWARDS YWCA Northwestern Illinois is accepting nominations for outstanding leaders who exemplify the YMCA’s mission to eliminate racism and empower women. There are six award categories—business, community, mentorship, professions, promise and racial justice—and award recipients will be honored at the Leader Luncheon XLIII: Women of Achievement. Nominations must be received by end of day, January 20, 2023, and can be submitted by mail or in person at YWCA Leader Luncheon Nominations, 4990 East State St., Rockford, IL 61108; or by email at funddevelopment@ywcanwil.org. For more details, visit ywcanwil.org or call 815-316-6126.