Family businesses have the benefit of thinking in generations instead of always looking to the next quarter. But long-term planning doesn’t happen automatically, it requires focus and intentional work to make the transition from one generation to the next as smooth as possible. And just because families think for the long term doesn’t mean they don’t face day-to-day pressures or need to focus on capitalizing on opportunities available to them today.
The 2026 BizTimes Family & Closely Held Business Summit focused on the theme of “Growth and Transition.” Held June 4 at the Brookfield Conference Center, the event was made possible by sponsors Meissner Tierney Fisher & Nichols, SVA Certified Public Accountants and Tri City National Bank, partner Annex Wealth Management, and event partners Forums for Family Business and the Wisconsin Family Business Center at the University of Wisconsin-Madison.
The main program featured a panel discussion about how companies address the needs of today and those of the future. Prior to the event, BizTimes asked each panel participant how they balance growth and the short-term needs of the business with long-term planning for the future. Here are their responses:
Nathan Cranker, owner and president, Gorilla Mill
While working in the business is necessary, it is equally important that your mindset is also focused on working on the business. This is where an amazing team is critical. They can hold down the fort while you strategically deploy the vision and prepare everyone to navigate the challenges ahead. If you are captaining a ship in uncharted waters and nobody is looking ahead, you are destined for disaster.”
Steve Hipp, president and CEO, Leader Paper
I feel this is tricky to do in any business. Much of our time these days is spent on short-term firefighting trying to win growth at the expense of long-term planning. I like to focus the team on what I call ‘operational planning’ versus ‘strategic planning.’ These days, a long-term strategic plan feels too hard to follow and the environment changes so quickly it is hard to stay relevant with a three- to five-year strategic plan. In ‘operational planning’ we like to focus on projects that can be completed with a one-year time frame. If we can focus and solve a few pain points each year, we will be successful.”
TJ Perlick Molinari, CEO, Perlick Corp.
The key is always being aware of your north star. At Perlick we are completely focused on that north star to lead our short- and long-term decision making. Of course, we have to be aware of what is going on in our world on a day-to-day basis, and occasionally we do need to react to it. But we will always keep the long term in mind to help guide the decision-making process in the short term to ensure those occasional reactions do not have long-term impact.”
Kim (Beeler) Peterson, CFO, Beeler Construction
As a shareholder and member of our senior leadership team, I’m very intentional about separating time for long-term strategy from the day-to-day needs of the business, aligning with my partners on four- to 10-year planning. We also work with our senior leadership team to define and communicate a clear three-year picture and annual priorities, while our broader leadership team – representing operations, field, talent and culture, sales/marketing and accounting – drives execution of the one-year plan. Through weekly one-on-ones and the structure of the Pinnacle Process within the Ninety platform, we stay aligned and accountable with quarterly rocks and functional priorities supporting that plan.”
