For nearly 20 years, our Founder and President, Ken Peterson, CKD, has had a sought-after business management column in Kitchen and Bath Design News Magazine. Ken, who continues to be active in the company, now oversees education for SEN, and his daughter, Leah, began running daily operations three years ago as Executive Vice President.
Coincidentally, it seems the kitchen and bath industry is expertising a changing of the guard too. And the population is aging. As current kitchen and bath firm owners begin thinking about retirement, we need to look towards the next generation of leadership to carry on the important work done by these firms.
But with time, comes change. For these older firm owners, a whole new set of questions arise as to how to make their businesses more attractive and profitable so that they can sell their businesses. And to whom they may be able to sell them to.
However, at the same time, for this "next generation" of leaders, they need to not only know about design but more importantly about business skills. It's imperative for these future owners to have the ability to run these kitchen and bath firms. To make them successful and profitable. Frankly, our industry's future depends on it.
This month, Ken's business management column in KBDN will transform into NextGen Matters. Ken and Leah will focus this quarterly column on business matters addressing succession planning, generational differences and how dealers and designers can prepare for their business and financial future.
While this is a change of the times, we hope that you continue to value Ken's expertise and enjoy the conversation that emerges between the generations in future columns.
You can catch the first column in this month's KBDN issue, launching this week!