Even though business is good right now for the Coblentz family, nobody can clearly predict the future.
Patriarch Robbie has operated the award-winning media production company Broadcast Media Group in Starkville for almost 30 years, and he and his wife, Bonnie, own two popular University Drive spots for food and drink—Dolce and L’uva Wine Room.
On paper, the next generation of Coblentzes—sons David and Mark—appear to be perfect successors for the family businesses. But in reality, things aren’t that simple.
David, a two-time Mississippi State graduate, works as a video fellow with Bulldog football, helping film and edit practices and games. Mark, another Mississippi State graduate who is working on an MBA at MSU, gained notoriety for his culinary abilities early in life when he appeared on Food Network’s “Chopped Junior” and Fox’s “MasterChef Junior.”
Mark said he enjoys the many aspects of food service, “but there’s a big world out there, and I’m just not sure what I want to do” when it comes to staying and taking over. David, too, said he’s “letting things play out” and has “no definitive mindset” about the future of the family businesses.
Jim Chrisman, who leads research through MSU’s Center of Family Enterprise Research, focuses on what keeps family businesses strong across generations. As the Julia Bennett Rouse Endowed Professor in Management, he’s helping business owners apply proven strategies to build lasting success.
So, questions linger for the Coblentz family: Who runs the businesses when Robbie and Bonnie decide to retire? Do they bring in outside management if their children choose other paths, or is it better to sell the entities they’ve put so much time, effort and money into?
“I’ve done video forever, and I love food. Seeing my sons follow in my footsteps a little bit has been fun to watch,” Robbie said. “It would be nice to have them buy in and take over, but I never want to burden my kids with the expectation that they have to do this—that they have to continue the legacy.
“When the time comes, we’ll all gather as a family and have these discussions,” he said.
Uncertainty surrounding succession—like what the Coblentzes face—and how to successfully navigate it—are at the heart of what faculty with the MSU Center of Family Enterprise Research, or COFER, have focused on for years.
Formally established in the MSU College of Business in 2008, the unit provides its findings, insights and resources to the public through The Family Business Bulletin, a quarterly report aimed at those starting, owning or wanting to acquire a family business.
“Succession has been and continues to be one of the most important issues facing family businesses,” said Jim Chrisman, MSU’s Julia Bennett Rouse Endowed Professor in Management. “We hope our readers will be able to identify things in our research that will help them better manage their companies and achieve higher performance. For me, that’s the key part of what we do.”
Laura Marler, the Jim and Pat Coggin Endowed Professor of Management and head of MSU’s Department of Management and Information Systems, helps bridge research and real-world practice in family business education. She’s focused on giving students the tools to strengthen their own family firms and make a lasting impact across Mississippi.
Not only is the research these Bulldogs provide top notch, it is also plentiful. MSU is ranked first in the nation and second in the world for family business research by the Texas State University’s Family Business Research Productivity Ranking.
“This university feels like a place that when you visit, you immediately feel at home and welcome,” said Laura Marler, head of MSU’s Department of Management and Information Systems. “When you think of the idea of family, that’s what comes to mind when you think about Mississippi State.”
COFER doesn’t solely serve business owners. Its research is also used in Family Business Management, an undergraduate class taught by Chelsea Sherlock, an assistant professor of management. The course looks at the functions, issues, operations and dynamics of family businesses from a strategic perspective. Experiential learning is at the heart of the class, too. Students connect with family businesses and analyze their succession plans, ability to communicate their culture and story internally, and compare their values and visions.
Local businesses, including The Little Dooey, have connected with both researchers and students as they study these topics.
Story by Carl Smith, Photos by Beth Wynn
