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Next Generation-NOW Huddle Tackles Multi-Generation Family Business Issues

Furniture World News


Next Generation-NOW reported that their first, Next Generation-NOW Huddle provided great advice for multi-generational businesses with an emphasis on issues that often arise infamily businesses.

A panel of two family-owned businesses, Gates Home Furnishings in Grants Pass, Ore., and Coconis Furniture, in South Zanesville, Ohio, answered questions submitted by Next Generation-NOW members through Twitter and the NGN Social Site. NGN Advisory team members, Lael Thompson, Broyhill Home Collections, and Alex Macias, Del Sol Furniture, acted as moderators for the call, fielding questions from the group and leading the discussion.

“The first Next Generation-NOW Huddle was amazing,” said Thompson. “It was great to see the diversity and unity between multiple generations in the furniture industry. I am grateful to Next Generation for providing a place for young people to learn and network. I can’t wait to see what is next!”

The Huddle featured many great takeaways including:
  • Randy Coconis, owner of Coconis Furniture, told members, “As long as you have the respect of your people, the sky is the limit.” 

  • Gates Home Furnishings owner Giff Gates reminded them that, “You have to be financially sound—cash is King. You also need a unique selling proposition to survive.”

The entire Huddle can be watched on the Next Generation-NOW Social site at: social.ngnow.org/page/education.

The next NGN Huddle is scheduled for September 26 at 2 p.m. EDT (11 a.m. PDT) and will focus on Retail and Technology. People interested in attending can sign up for the Next Generation-NOW mailing list at http://tinyurl.com/NGNsignup. Next Generation-NOW will also host their High Point Market Chatter Over Cocktails on Saturday, October 13, 2012 in the Market Square, showroom #272.

Through community, education and outreach, Next Generation-NOW is an incubator for those new to the industry; informing and encouraging while learning from those who have years of experience to share. It is a hosted community of the National and Western Home Furnishings Association. An Advisory Committee of peers has been developed to provide direction for the group. Advisory Committee members include: Alex Macias, Del Sol Furniture, Nick Gates, Gates Home Furnishings, Kevin Doran, R&A Marketing, Amy Schmidt, FurnitureDealer.net, Sara Wedding, FurnitureDealer.net and Lael Thompson, Broyhill Home Collections. To sign-up for Next Generation-NOW Social page, visit social.ngnow.org.

About Next Generation-NOW: Next Generation-NOW is a community of young, passionate and curious home furnishings professionals that are the future of the home furnishings industry. Working together, this community will develop the next group of industry leaders through educational events, social networking and guidance and give a voice to the unique needs of future generations in the furniture industry. For more information, visit www.ngnow.org.

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