EFBC President’s Message: Gratitude

Dear EFBC Members, 

I have a short letter for this month – speaking briefly to Gratitude.

As we celebrated our 30th anniversary gala last Friday, I feel personal gratitude for getting to see many of our members and celebrate with you all.

I feel a great gratitude to the EFBC organization, it’s history, and the great value that it has provided not just to me, but to multiple generations of business leaders over the past 3 decades.

And last, but certainly not least, I feel a great gratitude and appreciation for our amazing staff, who pulled off an impressive and seamless event for us all to gather.

On a lighter note, I feel gratitude that the sun is shining today and it feels like spring is finally here.

Warm regards,

Darrin Shillair – EFBC President 2024-2025

30th Anniversary Gala: A Night to Remember

On Friday, April 25, the Entrepreneur and Family Business Council community came together for an unforgettable evening at the Adler Planetarium to celebrate 30 years of connection, growth, and resilience.

Throughout the night, faces old and new filled the room, sharing stories, laughter, and plenty of dancing. We were honored to hear from BJ Slater, who delivered a moving speech about the profound impact EFBC has had on his life. His words were a powerful reminder of why EFBC exists: to support each other through the highs and lows of business and life.

Our faithful Director, Liz Fidanovski, also took the stage with a heartfelt message of gratitude to the EFBC community. But truly, this community would not be possible without Liz’s vision, leadership, and unwavering dedication. She has been the driving force behind EFBC and the visionary who made this celebration—and so much more—possible.

We took time to recognize our longtime members, some of whom have been part of EFBC for over 25 years—a testament to the lasting relationships at the heart of our organization.

We also extend a special thank you to our eight Strategic Partners, who are essential to EFBC’s strength. As BJ noted, our partners offer members easy access to trusted experts across HR, finance, healthcare, manufacturing, and more, making EFBC a true resource as well as a community.

As we celebrated this milestone, we reflected on the dream that started it all. Our founder, Jim Liautaud, once captured the spirit of EFBC in a poem that continues to inspire us today:

There are times in our lives

we create a dream,
serving something grander than ourselves.

And the more unusual,
and against most odds,

We become challenged by many
and attacked by some.

I’ve come to believe
it’s nature’s way of challenging change—
testing the core of our belief,
testing our resolve,
where only time and proof
will evidence its merits.

Those that never waver
create a better dream—
one that more embraces
their best believers,
to make a better team.

The only time we stand to lose
is if, so weakened,
we abandon our believers
to attack our attackers,

And lose the good inside of us.

We forget—
it’s only nature’s way
of testing our resolve.

– Jim Liautaud, EFBC Founder

Thank you to everyone who has helped build EFBC’s legacy. Here’s to the next 30 years and beyond.

30 Years of EFBC: From a Bold Idea to a Thriving Community 

This month, we’re celebrating a milestone that’s three decades in the making. What began as a simple idea—supporting the unique needs of family and entrepreneurial businesses—has grown into a resilient, values-driven community of leaders, learners, and legacy builders.   

In 1993, entrepreneur James P. Liautaud approached the University of Illinois at Chicago with a vision: to create a council where family businesses could access resources, education, and—most importantly—each other.

The first members joined in 1994, and the Family Business Council was born. 

For years, we operated as a nonprofit fund within UIC’s College of Business Administration. But as membership grew and regulations tightened, a turning point came. In 2011, with the support of 135 members and our Board of Directors, we became an independent nonprofit: the Chicago Family Business Council. 

Then in 2012, we found a new home at DePaul University’s Driehaus College of Business, and the next chapter began.

In 2019, we reintroduced ourselves to the world with a new name—the Entrepreneur and Family Business Council (EFBC)—along with a refreshed brand, a new logo, and an expanded mission. We weren’t just focused on family businesses anymore. We recognized that entrepreneurial leaders across industries shared common challenges, and that our model of peer connection and shared experience could serve them too. 

Through all the changes, EFBC’s core values—trust, confidentiality, openness, and growth—have never wavered. Neither has our belief in the power of community.

From just a handful of Forums, we’ve grown to 13 active Forum groups meeting throughout Chicagoland. Our events calendar has grown too, offering more and more educational programs each year, along with workshops, roundtables, and student engagement. Our Strategic Partners continue to provide invaluable expertise, and our members give back through committee service, mentoring, and shared experiences.

This month’s 30th Anniversary Gala at the Adler Planetarium is not just a celebration of our past—it’s a recognition of all the people who shaped this journey: our founders, our university partners, our volunteer leaders, and every member who has shown up to a Forum, shared a challenge, and supported someone else through theirs.

We’ve come a long way since 1994. And as we reflect on the last 30 years, we do so with gratitude—and excitement—for what’s still ahead.

Happy Anniversary, EFBC. Here’s to the legacy we’ve built together.

NEW MEMBER SPOTLIGHT

Meet Jessica Licari, Founder of Fork It Foods

At EFBC, we are always excited to welcome new members who bring unique experiences, perspectives, and entrepreneurial journeys. One of our newest members, Jessica, founder of Fork It Foods, has an inspiring story that took her from 14 years as a nurse in Loyola’s burn unit to launching and growing a thriving catering and events business.

We sat down with Jessica to hear about her transition from healthcare to entrepreneurship, the challenges she faced along the way, and what led her to join EFBC. 

Can you give us a basic overview of your background and career thus far? What led you to start Fork It Foods? 

Yeah! I actually started my career in healthcare—I was a nurse for 14 years at Loyola in the burn unit. It was a really tight-knit group, and I loved medicine, but I also had a huge passion for cooking. 

I would always make food for my coworkers, and they really enjoyed it. Eventually, people started asking, “Can we pay you for this?” So I thought, maybe this could actually be a business. 

At first, I just created a small menu and took weekly orders. I kept refining the process, and after about a year, I realized, this could be something real. 

In September 2018—just 10 days before my 40th birthday—I officially left my nursing career and went full-time with Fork It Foods. 

That’s a huge career transition! What was your original business model, and how has Fork It Foods evolved since then? 

We started as a meal prep company—think Blue Apron, but fully cooked and ready to eat. Customers would place orders, we’d cook everything fresh, and deliver meals for the week. 

At the same time, I was building relationships with farmers and vendors at local markets. Some of our customers wanted everything to be farm-to-table, so I started sourcing fresh cheeses, meats, and produce. 

@forkitgrazing

That’s when I noticed something interesting—grazing tables were becoming popular in Australia, but not many people were doing them here. We decided to test it out. 

Our first grazing table event was in June 2018, even before I officially left nursing. It took off, and that side of the business really started growing. Eventually, catering and events completely overtook the meal prep side, and we had to pivot. 

How did COVID-19 impact your business? 

Oh, it was a rollercoaster. We had just moved into our own commercial kitchen space in December 2019, and three months later, the world shut down. 

At first, we didn’t know what would happen. We had to cancel our grand opening. My business partner at the time wasn’t comfortable coming back to work, so I bought her out. 

@forkitgrazing

But then something unexpected happened—meal prep picked back up. 

During COVID, grocery stores were empty, and people didn’t know where to get food. Since we were already set up for meal prep and delivery, we filled a huge gap. Most restaurants weren’t ready to pivot to takeout, but we had the packaging, the logistics, and the systems in place. 

We stayed afloat and even grew during 2020, which was incredible. But once things opened back up, I had to make a tough decision—keep the meal prep or go all-in on events and catering. 

It became clear that catering was the future of the business, so in 2022, we fully transitioned to event catering, grazing tables, and corporate experiences. 

What does Fork It Foods look like today? 

So now, it’s a lot. We still do grazing tables—that’s really the heart of it—but it’s grown way beyond that. We’ve got our own private event space now, which has been great. We host everything there—corporate stuff during the week, cocktail parties, even community events. 

We also have a tap trailer, which is this super cute little teardrop trailer we converted. It has taps on the side for beer, wine, cocktails—it’s perfect for off-site events. 

@forkitgrazing

And then we do nationwide shipping for our grazing boxes, which people love for corporate gifts or remote events. 

How did you first hear about EFBC, and what made you decide to join? 

I first heard about EFBC in 2018 through Mike Mete, of PSM Partners. He actually brought me to an event back then and told me, you HAVE to join. 

At the time, I couldn’t afford it—I was still in the early stages of the business. But EFBC stuck in the back of my mind. 

Mike has always been my go-to person for business advice. He was like my personal EFBC of one—the only person I could bounce ideas off of. 

Last year, he invited me to another EFBC event, and this time, it just made sense. I talked with Liz, and after hearing more about the community, I knew I was ready to join. 

What are you hoping to get out of EFBC? 

For me, EFBC is my version of getting a business degree. 

I was a nurse—I didn’t go to school for business. But here, I have access to people who are experts in different areas. 

Also, I finally have a real sounding board beyond just Mike. I can ask questions, learn from other people’s experiences, and be part of a community of business owners who “get it.” 

Ultimately, I want to learn how to grow my team in a smart, strategic way. The goal is to scale the business so I can focus on big-picture growth while my team handles the day-to-day. 

Welcome to EFBC, Jessica! 

Jessica’s story is a great example of how passion, resilience, and adaptability can lead to entrepreneurial success. We are thrilled to have her as part of the EFBC community and can’t wait to see how Fork It Foods continues to grow! Connect with Jessica in the EFBC Member Hub!

AI Without the Intimidation—Takeaways from our latest Breakfast Club

Artificial Intelligence can feel like a tidal wave—fast-moving, powerful, and a little overwhelming. At EFBC’s recent Breakfast Club, AI: Your New Office BFF, members gathered to explore that wave together. 

Here are the biggest takeaways from the event: 

1. “I thought I could opt out of AI… until I couldn’t.”

Patty Rioux, President of Odea and co-founder of Trybl, opened with honesty and humor. Like many of us, she assumed AI was something she could avoid—or at least leave to someone else on her team. That changed the moment a client used ChatGPT to generate branding ideas and came back with AI-generated icons. “I think we can all agree… they were horrible,” she said, laughing. 

But that moment was also pivotal. “It was our first AI-generated client input,” she shared. “And that’s when I realized—I wasn’t going to opt out before this hit my company.” 

Instead of resisting, Patty’s team leaned in. They started experimenting—not just with marketing tools, but with operations and internal workflows. She reminded us that AI isn’t just about being tech-savvy, It’s about being adaptable, curious, and open to change.

2. Shared experience > advice

One thing that makes EFBC unique is its commitment to learning through shared experience. In Patty’s words: “In our Forums, we don’t give advice—we share what we’ve been through. And this presentation is no different.”  

That mindset shaped the entire event. There were no AI evangelists telling people what to do. There were people sharing what they’ve tried, what worked, what didn’t, and what they’re still figuring out. And that made all the difference.  

Whether you’re just starting to explore AI or you’ve already integrated tools into your business, your perspective has value. EFBC is a space where those experiences are heard and honored.  

3. AI is already changing how industries operate

Ryan Williams from PSM Partners shifted the lens to a broader view. He highlighted how AI is already embedded in industries we interact with every day—often without us even noticing. 

“That’s AI listening. It’s transcribing the visit and doing the backend documentation so doctors can focus on you—and see more patients.” 

It’s a powerful reminder that this isn’t some futuristic idea. AI is already here, behind the scenes, saving time and boosting efficiency. And the same is becoming true across sectors—from law to recruiting to logistics.  

4. Start small, think smart

Two of Trybl’s founders—JJ Lattea, and Hassan Momin—walked us through their real-world experiments with AI, showing how they’re using tools like ChatGPT, Midjourney, and Figma AI plugins to support their creative process. 

• JJ showed how AI can rapidly prototype visual concepts, saving hours in the design phase. 

• They emphasized the storytelling side of design, using AI to map out user journeys and generate language that speaks to target audiences. 

• Hassan brought the technical lens, sharing how they’re building internal tools and workflows powered by AI to streamline collaboration and handoffs. 

Their advice? Don’t try to boil the ocean. Pick one part of your workflow that feels repetitive or messy—and test AI there.

What stood out was how naturally AI fit into each person’s workflow. Not as a replacement, but as a thought partner. A brainstorming buddy. A second set of hands when you’re short on time.

5. The future is collaborative—and a little messy

From mic issues to system crashes, the irony of hosting a tech event with tech struggles wasn’t lost on anyone. But it also reinforced a core truth: trying something new is always a little messy. And that’s okay.

The room was full of members who weren’t afraid to admit what they didn’t know. Who asked hard questions. Who laughed when things didn’t work perfectly. And who walked away inspired to try something anyway. 

Final Thoughts 

This event wasn’t about becoming AI experts—it was about starting the conversation. Together, we explored how AI is already showing up in our businesses, how it can support creativity and efficiency, and how we can begin to experiment in ways that make sense for us.

Thank you to our strategic partners, PSM Partners and ODEA, for helping bring this event to life. A special thanks to the team at Trybl for sharing your tools, process, and perspective. And to our EFBC members, thank you for showing up with curiosity, honesty, and a willingness to learn.

See you all at the next event!

How to Get the Next Generation Excited About the Family Business

Engaging the next generation in the family business isn’t just about handing over the reins—it’s about inspiring curiosity, purpose, and connection. For many families, ensuring that G5 (the fifth generation and beyond) is excited and invested in the business is one of the biggest challenges.  

At our recent Women in Family Business event, held in partnership with the Loyola Family Business Center, we explored how to cultivate that engagement in a way that feels natural, meaningful, and rewarding. 

Amelia Patel, Chief of Staff at LDI, shared valuable insights on how her family business fosters excitement and involvement among G5. It’s not just about preparing them for leadership—it’s about creating opportunities for them to engage early, aligning their roles with their passions, and emphasizing the impact the business has on both the family and the community. From mentorship programs to innovation projects, the key is to make G5 feel valued and empowered—on their own terms. 

Start Early and Make It Meaningful

One of the biggest takeaways from the discussion? Start them early. Waiting until the next generation reaches adulthood to introduce them to the family business often makes the transition feel forced rather than organic. Instead, businesses should create touchpoints for involvement throughout childhood, adolescence, and young adulthood—without overwhelming them. 

At LDI, the family hosts an annual retreat, which was originally designed to bring everyone together while incorporating business education. However, after receiving feedback, they discovered that many next-gen members felt the retreat leaned more toward a business conference than true family bonding. This raised an important question: What does next-gen education really look like? 

The answer is different for every family, but a key approach is balancing structured learning with organic engagement. Rather than making business discussions feel like formal obligations, they can be woven into family experiences in ways that spark interest and build relationships. 

Play to Their Strengths

Another important takeaway is meeting G5 where they are. The next generation isn’t a monolith—some may be naturally drawn to leadership, while others might prefer supporting roles that align with their unique skills. That’s why playing to their strengths is crucial. 

• Are they into computer science? Let them redesign the company website or explore ways to optimize digital operations. 

• Passionate about storytelling? Encourage them to help with social media, create video content, or manage the family business’s online presence. 

• Do they love numbers? Involve them in financial planning discussions or let them analyze business trends. 

By giving G5 real, tangible ways to contribute, their involvement shifts from an expectation to an opportunity. They start to see how their skills can directly impact the business, making them more likely to stay engaged over the long term. 

Engaging Even the Youngest Family Members

One of the most exciting parts of the conversation was about engaging even the youngest members of G5. Business involvement doesn’t have to wait until they’re old enough to take on formal roles—there are creative ways to introduce them to the family business at an early age. 

Amelia shared that she’s even used ChatGPT to brainstorm ideas for introducing family business concepts to kids in fun, interactive ways. These might include:

• Gamifying business lessons, such as creating a mock business where kids can “run” their own small projects. 

• Creating leadership challenges that encourage teamwork and problem-solving. 

• Finding ways to connect their interests back to the family business, whether it’s through art, technology, or even philanthropy. 

By making the learning process engaging, hands-on, and age-appropriate, families can instill a sense of curiosity and belonging from an early stage—which can make all the difference in whether they see the business as a meaningful part of their future. 

The Big Picture

Ultimately, getting G5 excited about the family business isn’t about pushing them into leadership—it’s about showing them why the business matters. Whether it’s through family history, innovation, or community impact, the goal is to help them see their place in the larger story. 

When the next generation feels a sense of ownership, purpose, and alignment with their passions, engagement happens naturally. The key is to start early, play to their strengths, and continuously evolve the way families introduce business involvement to keep it relevant and exciting. 

How does your family business cultivate excitement in the next generation? Let’s keep the conversation going. 

EFBC President’s Message: Resilience = Success

Dear EFBC Members, 

I am back with another themed letter, and this time I am thinking about Resilience.   

Running a business isn’t for the faint of heart. It takes grit, adaptability, and – sometimes most importantly – resilience. The reality is stark: about 20% of small businesses don’t make it past their first year, and 70% fail within a decade. But those that survive aren’t just lucky – they’re resilient.  Sometimes the key to outperforming your competitors is just to outlast them. 

So, how do we build that resilience? A few key things make all the difference: 

• Plan for the Unexpected – Have a game plan for downturns and challenges before they hit.  I often do scenario planning with my team around big risks, e.g. the loss of a large customer, implementation of punitive tariffs, etc. 

• Keep Finances Strong – A financial cushion can be the difference between weathering a storm and closing up shop, and it is prudent to be very careful with debt. 

• Stay Adaptable – Markets change, and the most successful businesses evolve with them.  We make a strategic plan for the year, but we never hesitate to change it when circumstances demand it. 

• Lean on Your Network – Customers, vendors, and fellow business owners are invaluable sources of support and insight.  The EFBC and our strategic partners are an invaluable resource for this. 

• Keep Learning – The best leaders never stop looking for ways to grow and improve, whether it’s from their EFBC Forum or one of our many educational events. 

Challenges will come, but they don’t have to define us. What matters is how we respond. By staying prepared, connected, and open to change, we not only survive—we thrive. 

Here’s to the resilience that it takes to build businesses that stand the test of time. 

Speaking of Resilience and organizations that have stood the test of time, the EFBC is celebrating our 30th anniversary this year, and GALA REGISTRATION IS OPEN.  I am looking forward to seeing you all there. 

Warm regards,

Darrin Shillair – EFBC President 2024-2025

What No One Tells You About Selling Your Business

Selling a business is often seen as a strategic and financial decision—one defined by contracts, valuations, and negotiations—yet it is just as much an emotional and psychological journey.

At EFBC’s February 13th Fireside Chat, seasoned business leaders Jim Flanagan and Mark Wesa shared their firsthand experiences in selling their companies. Jim Flanagan, the former CEO of Nuance Solutions, and Mark Wesa, the former owner of MKD Electric, have both navigated the complexities of business sales in recent years.

Although they anticipated challenges in their M&A journeys, they encountered many unexpected surprises along the way.

Here’s what they—and many other business owners—wish they had known before stepping into the world of mergers and acquisitions.

1. The Emotional Toll is Real

No matter how prepared you are, selling your business isn’t just about the numbers—it’s about identity, legacy, and years of hard work.

Jim and his brother agonized over the decision, asking themselves, “How much risk do we want to take at this point in our careers?” Many business owners face the same struggle: logic vs. emotion, what’s best for the business vs. what feels right personally.

Deanna, EFBC member and chat moderator, summed it up perfectly:
“Deciding to step away from a business is truly a head vs. heart decision.”

The process can be exhausting, and when emotions take over, it becomes harder to stand firm on important terms.

Takeaway: Acknowledge the emotional weight early. Surround yourself with trusted advisors to stay grounded.

2. The Deal Isn’t Final Until It’s Final

A signed Letter of Intent (LOI) does not guarantee a sale.

The speakers recalled “11th-hour” situations where terms were renegotiated at the last minute—even after an LOI was finalized. This happens more often than most sellers expect.

Takeaway: Expect changes. Have a contingency plan, and ensure all verbal promises are put in writing.

3. Trust is Essential—But Not Always Enough

Even well-meaning buyers may struggle to uphold commitments due to market conditions, leadership changes, or financial challenges. Jim put it simply:
“In reality, what’s in writing is just on paper.”

Takeaway: Trust is important, but so is legal protection. Work with experienced advisors and push for contract transparency.

4. Keeping Quiet Can Be Critical

Mark stressed the importance of keeping acquisition talks private until a final decision is made.
“Don’t put your team on the emotional rollercoaster unless you’re certain it’s happening.”

Premature discussions can create unnecessary stress. Employees may start looking for new jobs, clients may get uneasy, and competitors may exploit the uncertainty.

Takeaway: Share information strategically. Until the deal is confirmed, limit discussions to those who absolutely need to know.

5. Define Your Non-Negotiables Early

Having clear guardrails—on culture, employee retention, leadership roles, operating systems or brand legacy—can prevent regret. Jim recalled Mark mentioning this concept at an EFBC meeting, emphasizing how it helped him maintain clarity.

Takeaway: Establish non-negotiables before negotiations start. Write them down and revisit them often.

6. Get Every Verbal Promise in Writing

Many sellers assume that once a deal is signed, everything will go as planned, but that is rarely the case.

Mark admitted:
“If I could do it differently, I would get all verbal promises in writing.”

Jim agreed:
“Same!”

Takeaway: Never assume verbal agreements will be honored. Get everything in writing—and be prepared to hold buyers accountable.

7. Private Equity: A Common Buyer with High Turnover

Many business owners sell to private equity (PE) firms, which are among the most active buyers in the M&A space. But PE firms have high turnover.

Statistically, the people you negotiate with may not be the ones leading the company post-sale—or even through the entire process. This creates unexpected challenges, especially when new decision-makers shift priorities.

This turnover can also mean verbal agreements or assurances may not hold up under new leadership. The individuals who promised to maintain company culture or protect employees might not be around to enforce it later.

Takeaway: If selling to private equity, expect leadership turnover. Get every commitment in writing, and don’t assume the people you’re negotiating with will be the ones executing the plan.

8. EFBC’s Impact: Having the Right People in Your Corner

One of the biggest challenges of selling a business is navigating the unknown. Having a trusted network of advisors and peers makes all the difference.

Mark described EFBC’s impact as invaluable:
“The advice and experience I received from my EFBC forum was very powerful during this time.”

Forum members who had already been through the process helped him anticipate challenges, evaluate offers more critically, and make better decisions.

Takeaway: Surround yourself with a strong support system. Peer networks like EFBC provide real-world insights that can help you navigate both the emotional and strategic complexities of selling a business.

Final Thought: Selling a Business is More Than Just a Transaction

Selling a business isn’t just about valuation and deal structuring—it’s about relationships, emotions, and unexpected hurdles. The more prepared you are for the hidden challenges, the smoother the transition.

If you’re considering selling, learn from those who have been through it. Their experiences might just save you from surprises down the road.

Want to connect with business owners who have firsthand M&A experience?

Join EFBC to gain access to a network of peers who have navigated the same journey.