FAMILY BUSINESSES Preparing daughters to lead the family business wegg® DOBO™ (Daughters of Business Owners) An interesting trend is emerging among male and female CEOs: they want their daughters to eventually lead the family business. Rather than handle all of the preparation themselves, they prefer to have someone else assist with this role. Women Entrepreneurs Grow Global® has stepped in to fill this role with a new program called wegg® DOBO™ (Daughters of Business Owners). How wegg DOBO started Rebecca Block is president of Buffalo Exchange, a third-generation resale fashion business that buys, sells and trades clothing and accessories. Rebecca asked me if I would consider mentoring her daughter Melissa Haskin, though she didn’t specify what she wanted that mentorship to look like. Because Rebecca is a member of the Women Presidents Organization, where I serve as Chicago Chapter Chair and with which wegg is a partner, there was an element of trust between us that things would work out. Over the span of a year, I enjoyed several coffee meetings in Chicago with Melissa Haskin who works at Buffalo Exchange. Melissa and I bonded instantly. I listened carefully to her stories about what it’s like to work for her mom and how she will someday, presumably, take over the business. One day, Melissa mentioned casually, “Laurel, I see an opportunity for women like me – those on the verge of taking over their parents’ businesses – to connect and learn from one another. It would be similar to what my mom gains through her WPO membership, but designed specifically for young leaders like me.” I went back to Melissa to see if she was willing to work with me to get the first wegg DOBO launched. She said yes and so did her mom. From our casual conversation, wegg DOBO was born. Together, our combined network opens doors and makes prospecting far easier. What wegg DOBO offers Developed by women for women, wegg DOBO equips participants with the confidence and skills they need to navigate the challenges of succession and leadership. It offers a supportive, professionally facilitated cohort experience for 5-7 women executives, who meet virtually each month for two hours. Discussions are tailored to members’ needs and cover a wide range of topics, including transparent succession planning, establishing boundaries between personal and professional life, and adapting communication and leadership styles when stepping into larger roles—especially when leading teams that include non-family members. Why wegg DOBO? The wegg® DOBO name came to me one weekend as I brainstormed something memorable. With help from the law firm Nixon Peabody, we filed for a trademark to protect the name as our intellectual property. The data shows why action can’t wait According to Dr. Kati Suominen, founder and CEO of Nextrade Group and a member of the wegg board of directors, each year 5-8% of 29 million family businesses in the U.S. (including sole proprietors and employer firms) experience a leadership transition to another family member. Given that 30-40% of the new leaders are women, close to one million daughters or female family members assume control of their family businesses each year. Keeping family businesses thriving is critical to the economy, as family firms generate 64% of U.S. GDP and employ 62% of the workforce. wegg DOBO opens doors After hosting an open house for interested women, we officially launched the first wegg DOBO in February 2025. At our meetings, the seven members share their experiences on how to deal with a particular situation. Challenges members discuss at a DOBO meeting can be solved within the cohort. “It opens up conversations with peers that make me realize I am much less alone in my role and responsibilities than I thought,” Melissa says. wegg wants to equip DOBO members with the tools to lead today, by Laurel Delaney Developed by women for women, wegg DOBO equips participants with the confidence and skills they need to navigate the challenges of succession and leadership. 38 enterprising Women
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