In Nebraska, family businesses are considered a core value of the economy. The University of Nebraska-Lincoln's College of Business Administration now offers a class where students of family businesses learn skills on developing their business.
In Entrepreneurship 322, students are taught about what it means to be part of a family business and how they can continue to keep up with the competition.
UNL lecturer David Specht, a certified financial planner, teaches the class, which is currently in its second semester.
Specht said when he first arrived in Nebraska from California three years ago, he noticed older family businesses dominated the commercial landscape. He went to UNL to see if any classes were taught on the subject and discovered there wasn't enough funding to field a course of that nature.
"The family business is the biggest opportunity to grow Nebraska's economy," Specht said. "I want to arm (the students) with questions they need to have answered."
Jim Abel of Nebco Inc. contributed an undisclosed amount to UNL to give the class a two-semester test run, according to Specht.
"I had 18 students last semester, mostly juniors and seniors," he said. "This semester, I have around 32 students, mostly seniors."
Many of the students come from family business backgrounds.
Specht said the class content is largely made up of guest speakers from the Nebraska family business community. In the past, the class has had the likes of Dave Wimmer, CEO of Wimmer's Meats and Sid Dillon of Sid Dillon Auto.
Thursday's guest speaker was Nancy Gade of Olsson Associates. Gade presented a seminar called "Communication and Family Business."
"I have worked with my family for over 20 years," Gade said. "It took a long time for me to listen to my family's opinions."
In order to better understand how to run their family businesses, Specht has his students dig deep and find out about their family.
"Why are you the way you are?" he asks. "Know your past."
Senior business administration major Alan Wirth said he took the class because he thinks he'll get into his family's business.
"My dad and uncle are farmers," he said. "I came from a smaller family business, so it's interesting to learn about different ones."
Gade focused mostly on confrontation and arguments. Her presentation, based off Dr. John Gottman's "Four Horsemen of the Apocalypse," speaks of criticism, defensiveness, stonewalling and contempt within a family.
"Three of them can exist in a relationship and be fine," she said. "If contempt exists, the relationship will almost always fail."
Specht said he has high hopes the class will be renewed for next year.
"I think the students love the class," he said. "The questions that they ask have to deal with their own personal lives."
andrewlamberson@dailynebraskan.com
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