We spoke to Bob Buddig, CEO of Carl Buddig & Co. Bob has served as Chairman of the FBC’s Board of Advisors. Without a doubt, he and his family are some of our most actively involved members — attending conferences, enrolling in our educational institutes, and rubbing elbows at social events. Check out Bob’s Q&A below.
Why did you join the Loyola Family Business Center?
I initially learned about the Center through my wife’s family business (who was a member). I took a look at what the Center was offering and found it could be beneficial to help manage my family business, too. We decided to join and I’ve been involved now for almost 25 years.
What is the most valuable part of your Membership?
The most valuable part of my membership is having the opportunity to meet other family business members and interact with them on a variety of issues. The Membership Community proves to be a good sounding board for me and others. My family has been involved in Peer Advisory Groups, the Next Generation Leadership Institute, and the Family Business Stewardship Institute – all have been very beneficial.
What is the most valuable thing you’ve learned from the Family Business Center?
I learned that many of our problems are not unique to us alone and discussing them with others allows us to learn from their successes, opportunities, and sometimes mistakes.
Why would you recommend the Family Business Center to other Family Businesses?
The Family Business Center is a great tool for any family business. It can prove to be a huge value in the long run when members tap into the different services offered by the FBC.
Where do you hope to see the Family Business Center in 5 years? In 10?
In 5 years I would like to see the Legacy Institute and the Governance Institute up and running and helping family businesses across a wide spectrum. In 10 years I would like to see us – as a Center and Member Community – continue to build on what we have; I’d like to see us get bigger and better, but not too big. We need to maintain our high-touch partnership.
What’s the secret to your family business’s success?
Our family communicates well with each other and we try to stay on the same page with realistic expectations. We also surround ourselves with the best people possible, outside of our family, to help ensure our success.