Author: habasala

Second-Gen Involvement = Sweet Success(ion) for Family Business

Following a bountiful strawberry season, Heidi’s will bring sweet cherries and blueberries to market. (Image courtesy Heidi’s Farmstand and Bakery)

Second-generation family businesses play a crucial role in family-owned enterprises’ stability and growth. As highlighted in the Harvard Business Review, the second generation can make or break a family business’s future. While they inherit a legacy, they also face extraordinary challenges, such as managing relationships, implementing changes, and establishing their own identity. Research from the Smith Family Business Initiative at Cornell emphasizes that only about 30 percent of family businesses survive into the second generation. This brings to focus the importance of effective succession planning. Second-generation family business leaders can create a lasting and prosperous tradition by leveraging their inherited wisdom and adapting to market changes. 

Ivy Stoller in front of Husky statue
Ivy Stoller ’23 celebrates earning her Michigan Tech degree. (Image courtesy Ivy Stoller)

As a native Michigander, Ivy Stoller was born in downstate Lowell and made the trip up north to Houghton to pursue her education. Ivy graduated from Michigan Tech with a Bachelor of Science in Accounting, concentrating in data analytics, in the spring of 2023. During her time at MTU, Ivy was active in various clubs and student organizations. She participated in Kappa Sigma Iota (KSI Accounting Club) and was a member of the Volunteer Income Tax Assistance (VITA) program helping with tax returns for fellow MTU students and local community members. Additionally, Ivy was a member of Beta Gamma Sigma, an honor society for business students. Beyond academic achievements, Ivy cherished her time at Michigan Tech as a period of personal growth and building lifelong friendships. 

Ivy’s family owns a business called Heidi’s Farmstand & Bakery located on 30 acres in southern Lowell. The family farm was founded in 1949 with many functions: raising cattle, running a dairy operation, and growing corn, soybeans, and wheat. Its business operations were started in 2006 by Ivy’s parents in collaboration with her mom’s brother. Later in 2007, the business was sold to Ivy’s twin uncles. Now, since Ivy has graduated, the family plans on changing it to a joint venture between the uncles, Ivy, and at least one of her siblings. 

The Business of Being a Husky: Three Ways I Balance Life in College

By Henry Basala, accounting with data analytics and MIS dual major and student ambassador

Balancing academic demands and personal wellbeing is one of the most difficult tasks students face while attending college. With classes, homework, clubs, work, and beyond, sometimes it seems like there aren’t enough minutes in the day. Especially at such a prestigious university like Michigan Tech, Huskies handle a demanding course load. This is why it is important to find the right mix of school and personal life. Here are three ways I balance life at Tech:

Three people pictured hiking
Blog author Henry Basala (right) recharges with friends during a homework hike break.

Take Breaks

One way I prioritize my mental well-being is by taking breaks. As simple as it sounds, this is critical for me. It’s easy to get caught up doing schoolwork for multiple hours straight. While it is necessary to complete lessons, taking a break from doing my accounting or studying for MIS exams is crucial for keeping a steady head during the hectic semester schedule. Some ways I like to take breaks include watching Netflix, playing Wii with my friends, or scrolling social media.

Ask for Help

This is something I took for granted at first—asking for help is one of the most important tools to thrive as a college student. Everybody struggles, everybody fails at times, and everybody has bad days. Michigan Tech has a Center for Student Mental Health and Well-being as well as staff and professors who are eager to help you. Whether it is homework support or just someone to talk to, reach out for help when you are struggling. There will always be someone here for you.

It is pivotal to use the resources you have to help you in times of need.

Henry Basala, Michigan Tech accounting and MIS student

Establish Wants and Needs

Another way I like to manage this tricky task of school-life balance is by prioritizing my wants and needs. While at college, your school life and personal life will sometimes conflict. There will be times when you want to go out, but need to do school work, and times you want to do school work and need to take a break. Identifying wants and needs will help you find the right groove of both to balance your time in college.

About the College of Business

The Michigan Tech College of Business offers undergraduate majors in accounting, business analytics, construction management, economics, engineering management, finance, management, management information systems, and marketing, as well as a general business option. Graduate degrees include the TechMBA®, a Master of Engineering Management, a Master of Science in Accounting, and a Master of Science in Applied Natural Resource Economics.