Monthly Message - April 2011
April Educational Program
Succession is not an Event -- It's a Process:
Overcoming Challenges in Transition
Thursday, April 14 - 7:30-9:00 a.m.
Alumni Hall at Ohio Dominican University
Making plans to transition your family business is a necessary but sometimes challenging process for family business leaders. It can present unexpected hurdles and issues that you might not have considered. Throw in a growing business and an evolving industry and those challenges can increase exponentially.
Carl Fernyak, CEO of MT Business Technologies, has completed a succession process that included those challenging elements and will share the strategies he developed along the way for successful growth, succession, and leadership. His presentation will be based on his experience transitioning his family's business and building it up to a $50 million annual revenue level. MT Business Technologies began as the Mansfield Typewriter Company in 1918 and is now one of the largest independent dealers for imaging equipment in north central Ohio and southern Michigan with locations in Avon Lake, Toledo, Cleveland, Columbus, Defiance, and Akron.
Third generation leader Fernyak has been involved in all aspects of the company during his 19 years there. From sweeping floors and filling orders to handling HR and leasing issues, as well as a multitude of other tasks, he learned a lot as he worked his way up to his current role as CEO.
Come and learn from his experience and take home some valuable ideas and strategies that will help you begin or continue your own succession journey.
Please register by April 11th with Kirsten Barrett at 614-253-4820 or firstname.lastname@example.org or at www.familybusinesscenter.com.
Understanding the Impact of the New Estate Tax Laws on Family Businesses
Thursday, April 28 - 7:30-9:00 a.m.
Alumni Hall at Ohio Dominican University
Right now is a great time to make changes,
Join Bea Wolper, Managing Partner at Emens and Wolper Law Firm LPA, and Darci Congrove, Managing Director at GBQ Partners LLC, for a candid discussion regarding new tax legislation that was passed in December that made unprecedented changes to estate and gift taxes for 2011 and 2012.
Wolper and Congrove will provide an overview of the new estate planning law as well as suggestions of what actions to take now and to plan for the future. In addition, they will discuss the impact of income tax changes in the new legislation that may impact family tax planning.
There is no guarantee that Congress will retain these favorable provisions in the law for 2013 so time is of the essence. Make a point to join us for this timely subject and bring another family business that can benefit from the information as well.
To RSVP for this timely program, please contact Kirsten Barrett at email@example.com or 614-253-4820.
Lunch & Learn
Protecting Your Family Business from E-Fraud
Thursday, May 5 - Noon-1:00 p.m.
Commerce National Bank
3650 Olentangy River Road, Columbus, 43214
Is your family business safe from e-fraud? Each year threats continue to grow with criminals using "phishing" scams and malicious software -- everything from Trojan Horse programs to key loggers and more -- that enable them to get around authentication challenges. In fact, a recent survey conducted by the Computer Security Institute (CSI) found that survey respondents are losing on average $289,000 annually to computer fraud.
Both computer and funds transfer fraud are growing and are legitimate threats that every business should be aware of, take steps to prevent, and create a plan to implement if security measures fail.
Jennifer Wehrly, Vice President of Cash Management at Commerce Bank, will show you how your family business can implement prevention techniques and tools, and create control processes for e-mails and online banking to circumvent e-fraud threats. Learn how to strengthen your internal controls, add vital security measures, and look at insurance coverage that can protect your business in the event your accounts are compromised.
To register for this informative Lunch and Learn program, contact Kirsten Barrett, at firstname.lastname@example.org or 614-253-4820.
May Educational Program
Happy at Home.
Happy at Work.
Family Business Leaders Can Have Both.
Want a More Productive and Profitable Workplace? Learn How With Powered By Happy Author Beth Thomas
May 19, 2011 - 7:30 a.m.-9:00 a.m.
Alumni Hall at Ohio Dominican University
Beth Thomas, author of "Powered By Happy - How to Get and Stay Happy at Work," and Executive Vice President/Managing Director of Consulting Services at Sequent, will lead a discussion regarding strategies for creating a more profitable and productive workplace in your family business. Powered by Happy is a powerful pocket-size book filled with upbeat coaching, practical advice and proven techniques on how to get and stay happy at work as well as how to boost your career and your company's bottom line.
According to Betsy Myers, Former Executive Director of Harvard's Kennedy School Center for Public Leadership, "Happy people actually create more productive and profitable workplaces...A meaningful read for business leaders."
Don't miss this opportunity to have Thomas walk you through steps to create the work and home environment that will enhance your family business. Make plans to join us and bring another family business that can benefit from Thomas's insight.
To RSVP, contact Kirsten Barrett at email@example.com or 614-253-4820.
JOIN US FOR FAMILY BUSINESS NIGHT AT THE CLIPPERS!
MONDAY, JUNE 20th 7:00 p.m.
Although you wouldn't know it from recent weather conditions, it's time to start thinking about baseball and the third annual Family Business Night at the Clippers. You can't beat sitting in the bleachers with your family, and others who are passionate about family business, watching a great baseball game in the heart of Columbus.
Sign up today to be a part of this fun-filled evening that promises to provide an opportunity for you to rub elbows, and knees, with other Central Ohio family business leaders, a chance to watch a great baseball game -- Columbus Clippers versus the Toledo Mud Hens, enjoy good conversation and of course the prospect of sampling some great ballpark food and drinks!
We've purchased a block of tickets in Section 3 and are reselling them to Conway Center members for face value ($10 per adult ticket, $7 per youth ticket). The tickets go fast so be sure to reserve yours by e-mailing your desired ticket quantity to Deana Gordon at firstname.lastname@example.org or calling the office at 614.253.4820. We will also have them for sale at our Educational Programs in April and May -- while quantities last!
Try Us Out!
We've all heard the saying, "try it, you'll like it", and when it comes to the Conway Center that old adage rings true. Most people who attend one of our programs or events make a connection with members and learn that the Conway Center has a lot to offer family businesses. We encourage you to attend one of the Conway Center's many educational, social or networking events. The benefits include building relationships with other family business leaders, gaining knowledge to help your family business succeed, and improving your business through the counsel of experienced family business owners and advisors. Make a point to join us, free of charge and see why others find the Conway Center to be one of the best kept secrets. Already a member? Then we encourage you to bring a guest, on us, so they can try us out. They'll thank you and you will both be glad you took the time to join us! Register at www.familybusinesscenter.com.
Our members frequently tell us how valuable the relationships they develop with other members are to them personally and to their business. We understand that is one of the key reasons that family business leaders choose to belong to the Conway Center for Family Business and we encourage relationship building and networking among family business members and also between service provider members and family business members. But we also want to remind and caution all members not to directly solicit other members. It's important to understand that some limitations are needed in order to preserve the trust and confidentiality of members and create an environment that is conducive to building long-lasting relationships. To that end, please be considerate of other members and refrain from direct solicitation such as direct mail, e-mail and cold calls or from using the Center's name in marketing materials without written permission. We are confident that the relationships you take time to develop will be valuable to the growth of your business.
Dick and Deana
Peer Group News
Next Generation Peer Group Has Openings
The new Peer Group for Next-Generation Leaders (those who work with their parents or grandparents, aunts or uncles in a family-owned business) has a few openings left. The program has a successful history of bringing Next-Generation leaders together for one year to delve into issues faced by Next-Gen leaders. Led by Dr. Thaddeus O'Brien, an organizational consultant with more than 30 years of experience working with family-owned businesses, the group brings family business peers together, in a confidential environment, to examine their roles within the family business, think critically about developing their leadership skills, and encourage them to begin to prepare for the expanded role they may someday play in leading the family-owned business. E-mail Connie Nicholson today if you would like to join this year's group, email@example.com.
Women in Family Business Peer Group
Next Meeting April 12th
Family Business Leaders Peer Group
Next Meeting April 13th
CEO Peer Group
Next Meeting April 14th
Family Business Culture Peer Group
The Family Business Culture Peer Group will help family businesses strengthen relationships within their business. It is designed to give information to help family business leaders create a winning culture to get the results they want. Creating a culture where people can thrive, grow and align their personal goals with their company's mission can help attract, retain and engage people. In addition, it can aid in successful transitions to the next generation as well as adapting to the changing needs of a growing business. John Baker, Chief Human Capital Officer, from Sequent will lead discussions on topics that will strengthen relationships within the company which ultimately result in strengthening relationships with customers. Issues such as working through conflict, how cultures create outcomes, aligning careers with company missions, decision making that creates accountability and attracting, retaining and engaging people are some of the topics that will be discussed. The monthly meetings will be held at Sequent in Dublin. For more information, call John Baker at firstname.lastname@example.org.
For more information about any of the Center's Peer Group Opportunities, contact Peer Group CoordinatorConnie Nicholson at email@example.com or visit www.familybusinesscenter.com.
Free Workshop on Increasing Efficiency and Cash Flow
April 19 - 7:30-9:30 a.m.
Sanese Services, 6465 Busch Blvd., Columbus
Conway Center Service Providers Definity Partners and FocusCFO are teaming up to offer "How Healthy is Your Business? - Taking Advantage of the Recovery", a workshop for business leaders who want to help their businesses operate more efficiently while increasing cash flow. They will examine steps you can take now to reinforce your financial position and operational strength as growth returns. Learn improvement strategies to help your company produce more product with less waste while increasing employee satisfaction and retention. Find out how to find cash that is in your business and manage it to leverage new opportunities and support growth. Click here to register or contact Mike McBride, of Definity Partners, at firstname.lastname@example.org or 614.403.3694.
Welcome New Family Business Members
Roberts Electrical Construction Company
Beth Roberts Butler and Rich Roberts
Roberts Electrical Construction Company has served the Central Ohio area for over 30 years. President Beth Roberts Butler and her brother Rich Roberts, who is the company's project manager, work with their team to provide quality installations within budget and a high level of customer satisfaction. Roberts Electrical serves all electrical needs from troubleshooting and repairing existing lights and equipment to wiring a new building. Roberts Electrical also has experience with emergency backup generators, UPS systems, HVAC control wiring, fire alarm systems, security systems, and telephone and data systems.
Skip and Linda Murray
Murray Associates helps businesses and individuals achieve their goals and objectives to gain professional growth. Skip Murray started Murray Associates in 1990 to utilize his 35 years of experience to help other business professionals and organizations. Skip's wife, Linda Murray, is the president and co-owner of Murray Associates and uses her educational background to help clients learn the skills they need to grow professionally. Other members of the Murray Associates team include: Lee Blyth, Mike Gorman, Bryan Driscoll, and Wayne McCulty. Murray Associates offers clients a variety of programs, including: Managing for Success, Coaching for Success, and Communicating for Success. Their goal is to help clients gain hands on learning experiences for personal and organizational development.
Broad Street Financial Company
William and Geoffrey Arthur
Broad Street Financial Company ("BSFC") is a privately-held investment company located in Columbus, Ohio. William Arthur is the principal owner of BSFC and serves as the CEO/President. His son, Geoffrey Arthur, is President of Broad Street Energy, Co., ("BSEC") a wholly owned subsidiary of BSFC which is involved in oil and gas exploration and development.
WELCOME NEW SERVICE PROVIDERS
The Conway Center for Family Business is happy to welcome three new service providers:
Kyle Pifher and Greg Lashutka
Findley Davies, founded in 1969, is an independent, fee-for-service, regional human resources consulting, actuarial, and administrative services firm. The firm specializes in helping clients attract and retain talent, improve financial performance through the management of costs, enhance the effectiveness of HR processes, leverage technology, and structure solutions that drive organizational improvement.
Neace Lukens, an insurance and risk management company, has helped businesses in nearly every industry develop specialized solutions tailored for their needs. For over 20 years Neace Lukens has also helped manage risk, develop and evaluate employee benefits, analyze the financial health and ensure the future wealth of their clients.
Ward & Connolly
Paul W. Ward, Richard E. Connolly
Ward & Connolly is a life insurance agency that assists clients and their trusted advisers in evaluating financial risks associated with death, the economics of shifting risk through life insurance and helping clients find the right coverage at the right price. The firm also assists clients and advisers in evaluating existing life insurance and, where appropriate, assisting clients in the sale of existing policies to institutional investors. In addition, Paul and Rich do extensive speaking on topics related to life insurance to professional groups, and are approved providers of continuing education to various organizations.
Health Care Reform, One Year Later
The passage of the Patient Protection and Affordable Care Act (PPACA) in March 2010 was a watershed event in U.S. history. The stated intent of this law was to: 1. Get more people covered. 2. Improve the quality of care. 3. Control costs. Due to the fact that the regulations are not yet written, the context is fluid and politicized. There have been many questions about this law. Click Here to read more from Pat Carpenter, Vice President of Business Development, Sequent Retirement & Benefits Group.
White Castle Celebrates 90th Birthday
Family businesses dominate billionaire list
New Family Business Calculator Helps Gauge the Financial Future For Your Kids
Succession Not Succeeding For Family Business
Family Business: Pre-Mortem Beats Post-Mortem
Competitive Intelligence: Relationships Build the Business
Business Dynasties Need to Plan for the Delicate Task of Succession
The following articles feature Conway Center members who were referred to the publication by Center staff as a good source for a family business article:
Time May Be Right to Sell Family Business
Outsiders Can Take Emotion Out of Sale Within Family
Succession Stories: The Good, the Bad, and the Ugly
Connect With Us
Conway Center for Family Business
J. Richard Emens
Membership in the Conway Center for Family Business is open to all family businesses in Central Ohio.
For more information on the benefits of membership, visit: familybusinesscenter.com