NxtGen Nexus has always focused on the needs of the next generation of family business owners and inheritors of wealth.
We created content, hosted online and in-person events, and partnered with family business centers to bring value to the community. It was emotionally rewarding work, but it never reached the depth where participants looked at each other and felt like we were one tribe. Despite differences in business size, industry, and background, the shared experience of running a family business should have outweighed everything that set them apart. That's the connection we never quite achieved.
Everything changed when we held our first meeting of NxtGen Nexus The Valleys. It was an extraordinary couple of hours — we explored what matters most to NxtGens: 1) meeting other NxtGens and discussing shared issues, 2) finding opportunities to grow our family businesses, and 3) celebrating the extraordinary history and pride behind our family businesses.
Hosted at Porto's Bakery
Why did it work? To begin with, we held it at Porto's Bakery — a third-generation, 60-year-old family-owned bakery deeply ingrained in the SoCal psyche. Porto's story began with Rosa Porto secretly baking in 1960s Communist Cuba before immigrating to the U.S. With a small loan, she opened the first Porto's Bakery in a 300-square-foot space on Sunset Boulevard in Echo Park, California, serving about 50 customers a day.
Porto's Bakery - Glendale
Today, the bakery has grown to six Southern California locations, with a new one set to open on Main Street in Disneyland. Its signature items of traditional Cuban pastries and savories are rooted in Rosa's own family recipes. Lines of excited customers wait patiently for their Porto's treats. During our event, a third of attendees ordered Porto's to bring home to their families.
Having the event at Porto's helped create an environment for honest conversations about family dynamics. Not everyone shared their deepest, darkest secrets — but we came pretty close. And that's exactly as it should be. Where else can you find a group of people who truly understand the complexity and overwhelming weight of family business issues? Participants talked openly about a concept many had faced: the sense that it was either the business or the family, because the two could no longer coexist in their lives.
Why did the event feel different?
Kyler Gilbert is a second-generation member of Business Consulting Resources, a firm specializing in family business consulting. The company has worked closely with Loyola Marymount University, Cal State Fullerton, UCLA, the University of Hawaii, Fordham, and the University of San Francisco to build events for family businesses.
“Although I've been to a lot of family business and family business next gen events in the past, this one felt a little different. It was hard to figure out why at first, but it finally came to me. The real magic behind this event was that we really didn't have an agenda. Everyone came because they are next gens themselves and passionate about sharing their story and listening to others share their stories. We made real connections, shared vulnerable stories, and even had a bit of fun! And at the end of the event, it felt like everyone wanted to know when our next event would be! If that's not a good sign of success, I don't know what is!”
Prior to the event, we didn’t know what people wanted from NxtGen Nexus The Valley. What everybody left with, besides tons of leftovers from Porto’s, was the challenge to build NxtGen Nexus The Valley into an organization that supported NxtGens and could become a thriving force to support SoCal’s family business future.
For the record, we invited one non-family-business NxtGen to attend. Operating under the motto "sponsors are to be seen and not heard," he walked away with remarkable insight into the world of family business NxtGens — and a better sense of how to serve their needs.
Join us for the next NxtGen Nexus The Valleys event.
Date: October 30th
Time: 12 pm
Sign Up Here >>
Allen Esrock is the Founder of NxtGen Nexus, a platform for the next generation of family business owners which is based on his experience of growing up in a family business. Prior to that he started Jitter Fingers, the first safe, social networking website for tween girls and their bffs with Jitter Finger clubs in 12+ countries and 250+ cities in the US.
