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Conway Center for Family Business

Monthly Message -- July 2012

9th Annual Family Business Tour and Networking Event!

August 23 - 4:00-6:30 p.m.

Hosted by: A.D. Farrow Co. Harley Davidson
491 W. Broad Street, Columbus, 43215

This year's Family Business Tour and Networking event is full of summertime fun! You'll get a behind the scenes look at successful 100-year-old A.D. Farrow Co. Harley Davidson and learn more about their history from owner Bob Althoff. You'll also be able to spend a sunny August afternoon networking with your family business peers. And to top it off, there will be complimentary ice cream from Velvet Ice Cream, and hot dogs and coney dogs from Phillip's Original Coney Island. You can even get your picture taken on a Harley! Be sure to put this event on your calendar today -- you won't want to miss it!

You can't go wrong with cycles, coneys, and cones! RSVP today to Deana Gordon at gordon@familybusinesscenter.com or 614-253-4820.

Webinar

Top 5 Online Marketing Tactics

August 7 - 11:00 a.m.-Noon

Join host Amy Marshall, of Fathom, to learn which online marketing strategies you should be using to benefit your family business. She'll share great ideas to improve your online presence and get your business noticed. Don't miss this chance to learn more about what you can and should be doing to keep your business top of mind with your target customers! This September, Amy will be facilitating our new Online Strategy Peer Group so take advantage of this opportunity to get a sneak preview of what the new group will offer.

To register and receive login information, please contact Deana at gordon@familybusinesscenter.com by August 3.

14th Annual Family Business Awards

Nominate a Family Business Today!

Deadline is SOON!

Does your family business (or one that you know) deserve to be recognized for a significant accomplishment or milestone this year? If so, please let us know so we can recognize their success at the 2012 Family Business Awards Program. We are looking for family businesses that deserve recognition in one the following award categories: Communication - recognizes family businesses that have developed tools or strategies for effective communication within their company or with their family members regarding the business; Community Engagement - recognizes family businesses that have made a significant contribution to the Central Ohio community; Milestone Achievement - recognizes family businesses that have reached a significant milestone during 2012 (longevity, business, or other significant achievement); Re-Invention - recognizes family businesses that have successfully adjusted their business strategy or focus to address a changing business climate or societal demands; Succession Planning/Implementation - recognizes family businesses that have developed or completed a succession plan or transferred leadership; and Support of a Family Business - recognizes organizations or individuals that have shown support or demonstrated a commitment to the strength, success or longevity of a family firm.

To nominate a deserving family business, submit your nomination by July 27th by clicking here or by sending the company's name and contact information, along with the category for the nomination and the reason you are nominating them to Deana Gordon at gordon@familybusinesscenter.com. We'll send each nominated company an application form and let them know you submitted their name. It's a great way to recognize a client, customer, or peer for their hard work. Don't wait; send in your nominations today!

Eradicating Entitlement in Your Family Business

September 20 - 7:30-9:00 a.m.

Alumni Hall at ODU
1216 Sunbury Road, Columbus, 43219

A mentality of entitlement has become more and more pervasive in the the next generations of family businesses where it challenges the continued success of the family business. Alex Freytag, of Ownership Thinking, is on a mission to reduce entitlement which can be devastating to family business. His organization has worked with hundreds of companies to diminish or defeat the entitlement mentality and replace it with cultures of earning. Family and non-family employees do gain self esteem through achievement. But how do you reduce entitlement and still set them up for success? Alex, along with representatives from two family-owned business -- Air Force One and Valley Interior Systems -- will help you learn how to troubleshoot entitlement problems and resolve issues stemming from them. Alex will share tools that you can take back to your business and immediately put to use.

To attend this valuable program, please RSVP to Deana Gordon, gordon@familybusinesscenter.com or 614-253-4820.

Fambassador Team Scorecard

Congratulations to these team leaders and their teams on their successful recruiting efforts!

  • Bea Wolper, of Emens & Wolper Law Firm (4 new members)
  • Mark Frendt, of RICOP Construction (2 new members)
  • Skip Murray, of Murray Associates (1 new member)
  • Caroline Shroyer, of Grove City Tree Service (1 new member)

Directors' Insight

Opportunities to Nominate for Awards

One of the core goals of the Conway Center is to recognize the success and the contributions of Central Ohio's family-owned businesses. Our annual Awards Program provides an opportunity for us to share the stories of family businesses that have given back to our community and/or increased their own success through re-invention or transitioning their business to the next generation. It's also a time when we can celebrate with businesses that have hit milestones during the past year.

To-date, we've honored more than 100 family-owned businesses at our annual awards program and we look forward to honoring additional deserving organizations at the 14th Annual Family Business Awards Program this November 2nd.

PLEASE NOMINATE A FAMILY BUSINESS FOR AN AWARD THIS YEAR! The few minutes you take to submit a name or two could have a positive impact on the nominees and those who learn from their stories of success. So if you know of any family businesses (including your own) that have completed a succession plan or successfully transferred leadership of their company from one generation to the next, found a unique solution to a complex business problem, developed a successful communication strategy, made a contribution to their community or gone above and beyond the call of duty to help an employee, customer or vendor, be sure to take this opportunity to recognize them. You can submit nominations online or send information to gordon@familybusinesscenter.com until July 27th.

Dick and Deana

Business Development Peer Group

to Work on Performance Improvement

Understanding the Performance Influences that Impact Performance - Are you prepared to deal with the competitive pressures, rapid change, and demanding performance targets that are expected in the current business climate? No? Then join us on July 19, from 8:00-9:30 a.m., to explore the six performance influences to manage performance improvement. We will discuss the primary areas of management responsibility - and employee accountability - for achieving results for your family business and your team.

In addition to a powerful learning session you will also receive a complimentary Emotional Intelligence report. A key to your success in any business environment!

This session will be facilitated by Bryan Driscoll, of Murray Associates, and will be held at Sequent, 4700 Lakehurst Court, #200, Dublin, OH 43016. Please RSVP to Caroline Shroyer, shroyer@familybusinesscenter.com BY JULY 13 so you have time to complete Emotional Intelligence questionnaire prior to coming to class.

New! Online Strategy Peer Group

This fall we will kick off a dynamic new Online Strategy Peer Group created to help family businesses tackle all aspects of online marketing for their businesses. The group will explore social media topics and tools, policies, online search, converting online visitors to customers, and integrating online and offline marketing. Led by Amy Marshall, of Fathom, the group will have a very interactive format and be driven by member questions and the sharing of challenges and solutions. Whoever wears the online marketing "hat" in your business should sign up to attend this group today - space is limited! Check out topics included in the series on our website, www.familybusinesscenter.com and RSVP to Caroline Shroyer at Shroyer@familybusinesscenter.com. The first program is September 12th.

Upcoming Peer Group Meetings

To sign up for any of this month's peer group meetings or to learn more about peer group opportunities contact Executive Coordinator, Caroline Shroyer, at shroyer@familybusinesscenter.com or visit www.familybusinesscenter.com.

CEO Peer Group (RSVP Required*)
July 12 - 3:30-7:30 p.m.
Golf Outing at Heritage Golf Club
If you are a CEO who's interested in joining, we encourage you to come to a meeting.

Women in Family Business Peer Group
July 17 - 7:30-9:00 a.m.
Griffin Center at Ohio Dominican University
Topic: The Softer Side of Succession

Business Development Peer Group
July 19 - 8:00-9:30 a.m.
Hosted by Sequent, 4700 Lakehurst, Suite 200, Dublin
Topic: Performance Improvement

Next Generation Leaders Peer Group
No meeting in July or August
Next Meeting - September 13
*Members of this group participate for one full year. Next group begins in January.

Marketing/Sales Peer Group
No Meeting in July or August
Next Meeting - September 19

Welcome to New Members

Advance Sign Group
Jim Wasserstrom, Andy Wasserstrom, Nancy Wasserstrom
5150 Walcutt Court, Columbus, OH 43228
614-429-2111
www.advancesigngroup.com

Advance Sign Group is a national full-service, design, fabrication, installation and service house for all forms of outdoor lighted signage. The company focuses on national multi-unit chain accounts and specializes in retail banking, restaurants, retail chains, corporate signage, and rebranding rollouts. The business is run by founder and CEO Jim Wasserstrom, his wife Nancy Wasserstrom, Sales Manager; his son Andy Wasserstrom, New Business Developer; and COO Roger Wallace. Advance Sign Group has teams of sales and administrative support staff and performs manufacturing and installation of each project themselves. They installed signage in over 47 states and 3 countries in 2011 and opened their first support office in June in Chicago, IL.

Rudolph Bros. & Co.
Kevin, Rick, Jared Rudolph
6550 Oley Speaks Way, Canal Winchester, OH 43110
614-833-0707
www.rudolphbros.com

Rudolph Bros. & Co. was founded in 1954 and is a distributor of specialty and formulated chemical products to domestic and international original equipment manufacturers. Today, the company is run by second generation members and brothers Kevin Rudolph, CEO, and Rick Rudolph, president, along with third generation member Jared Rudolph. Its product line includes epoxy, silicone, urethane and acrylic formulations of industrial and aerospace structural adhesives. The company's philosophy is to develop close, mutually supportive business relationships that help customers discover new, more efficient methods to solve their technical problems with product design, development and manufacturing.

The Robert Weiler Company
Bob Weiler, Skip Weiler
10 North High St., Ste 401, Columbus, Ohio 43215
614-221-4286
www.rweiler.com

Founded in 1938, The Robert Weiler Company serves the Columbus community as a multi-faceted real estate firm with specialties that include appraisal, brokerage, consulting, development, and property management. The Robert Weiler Company markets real estate throughout the Central Ohio region and has built a reputation for quality service and an exceptional sales staff.

UpYourMarket.com
Robin Gerhart, Warren Gerhart, Audrey Beale
6224 Meridian Ct., Canal Winchester, OH 43110
614-531-6759
www.upyourmarket.com

UpYourMarket gets to know each of their clients to learn what marketing is working for them and what isn't. They partner with clients to develop and utilize the best marketing tools to bring their target market through their doors. Robin Gerhart, with the assistance of her husband Warren Gerhart and her granddaughter, Audrey Beale, develops the best marketing platform for clients to reach their target market and grow their business. Growth techniques for clients include web development, search engine optimization, keyword marketing, Google places, analytics, organic traffic, mobile conversions, and mobile applications for Apple and Android. The company gives back to autism research since Audrey has two brothers with Autism which has greatly affected their family.

Welcome New Service Provider

Lazear Capital Partners
Bruce Lazear, Ted Lape, Michael Morosky, Brad Dunnington
401 N. Front St., Ste 450, Columbus OH, 43215
614-221-1616
www.lazearcapital.com

Lazear Capital Partners is an investment bank and private equity firm that specializes in helping family-owned businesses achieve their financial objectives through raising equity, the sale of the company, or refinancing/recapitalizing the business to allow for growth. In addition, Lazear Capital Partners provides a range of financial advisory services to clients involved in mergers and acquisitions, restructurings, and debt and equity transactions. These services include financial and tax structuring, negotiation, participation in documentation, and ultimately, execution.

CHECK OUT THESE PROGRAMS

Health Care Reform: Impact on Your Business

At last, the Supreme Court has ruled on Health Care Reform and Findley Davies and Shumaker, Loop & Kendrick, LLP will provide an overview of the ruling as well as planning ideas as you make critical business decisions during a free webinar for Human Resource and Legal Professionals, CFOs, CEOs and COOs on Thursday, July 12, from 11:00 a.m. - Noon. This session will include an overview of the Supreme Court decision and key areas to address during discussions with your leadership team including the balance of: Employee retention, Firm culture, Cost considerations, Legal implications, and employee communication. This webinar is designed for Human Resource and Legal Professionals, CFOs, CEOs and COOs. Click here to register.

Investment Webinar

Oxford Financial Group invites you to attend its free quarterly webcast presentation, on July 25th from 10:00-11:00 a.m., featuring investment strategy experts who will provide insight on Q2 Financial Market Review, Current Investment Themes, Central Bank Watch, and the Fate of the Eurozone: A Case of German Will. Click here to register.

Developing Leaders Program

The value of a great leader cannot be overstated and organizations thrive with great leadership. Murray Associates' work on Developing Leaders has evolved over the past 20 years and is founded on the basic premise: The key to a positive bottom line is directly associated with the quality of leadership. People do not leave companies they leave managers. The program provides you the ability to develop leaders with stronger strategic decision-making skills for today's corporate challenges. Today, most companies are faced with doing more, but with less people. A leader's number of direct reports is exponentially higher and embracing operational excellence is expected. The Developing Leaders program keeps pace with the new business climate and is a valuable tool for sales managers, coaches, executive directors, supervisors, team leaders, project managers, officer managers and all who lead. The program is held on the second Wednesday and Thursday of each month -- For more details contact Bryan Driscoll of Murray Associates at 614-873-7227 or bryan@murrayassociates.com.

How Are Companies Preparing for Health Care Reform?

Findley Davies conducted a Health Care Reform Survey to help benchmark how employers were preparing for the imminent Supreme Court decision regarding the Patient Protection and Affordable Care Act (PPACA). One hundred organizations completed the survey in whole or in part. Survey respondents were human resource and benefits professionals throughout the United States with the majority of organizations being self-insured.

Key findings include: While one in five organizations has done some level of formal planning in anticipation of the Supreme Court decision, 82% of survey respondents have done no planning and the majority of survey respondents do not have a timeline for communications to employees.

The survey summary, recommendations, and results can be found here.

MEMBER NEWS

AD Farrow Co. Harley-Davidson contributes to Flying Horse Farms
Top News Today.org
A.D. Farrow Co. Harley-Davidson is celebrating their 100th Anniversary on June 23, 2012. Charity proves to once again be a part of A.D. Farrow Co.'s DNA...

Ricart CEO touts value of advisory board for family firms
Bizjournals.com
Still, the family that has seen its dealership grow from selling six cars a month in 1953 to generating $500 million in annual revenue today is readying a succession for its next generation. Ricart talked about his dealership, family-owned businesses...

Ahlum & Arbor has Three More Certified Arborists
Ben Trubisky, Tim Ascher, and John Sprague of Ahlum & Arbor Tree Preservation recently earned the Certified Arborist designation through the International Society of Arboriculture (ISA). To earn the ISA certification, candidates must pass an exam, but first meet requirements to become eligible for the exam. These requirements include three or more years of full-time, practical work experience in arboriculture and/or a degree in the field of arboriculture, horticulture, landscape architecture, or forestry from a regionally accredited educational institute. Once an Arborist is ISA Certified, they must also sign the Code of Ethic policy.

Christmas in July at Lincoln Construction
Beginning July 1st and running through July 31st, Lincoln Construction will be collecting donations to help fight hunger by bringing in non-perishable food items to the office at 4790 Shuster Road, Columbus, 43214, or by making a monetary donation. Checks or money orders should be made payable to Mid-Ohio FoodBank. By collecting critically needed food items and dollar donations, they hope to help restock the shelves that have been depleted during the summer months. Lincoln Construction, with the help of its employees and friends, has donated over 19,000 meals to the Mid-Ohio FoodBank in the last five years. Please call Alexa at 614-457-6015 or email ahupper@lincolnconstruction.com with any questions.

Interesting Reading

A window of opportunity
Smart Business
The benefits of transferring stock in your business before 2013 -- How many times have you received a 500 percent increase on a tax exemption? The federal gift tax exemption did just that - going from $1 million to $5 million for an individual and from $2 million to $10 million for couples - but only for 2011 and 2012. (Tim McDaniel, PCA/ABV, ASA, CBA, of Rea & Associates, Inc.,on how to take advantage of the more generous tax code while it lasts.)

Family business: Couples should talk more about their finances
Naples Daily News
Never assume your mate has the same philosophies about handling money as you do. Marriages can be strained when financial discussions don't happen and...

Much progress has been made for women in family businesses News & Observer
When it comes to family businesses, women are also viewed as integral to the success of the enterprise, but this has not always been the case. We know that historically, women have not been valued in the workplace. Indeed, at my family's business...

How Listening Builds a Global Business
Forbes
She was concerned, Only about 30 percent of family businesses survive into the second generation, and just 12 percent make it to a third, according to the...

Family Business Wisdom, Thoughts & Education
Family Business Consulting Group
Once a crisis hits a family business, there is usually a quick scramble to put the pieces back together. Perhaps the family CEO is ill and unable to work...

Passing family business on to next generation requires unique skills
News & Observer
To found a successful business is to make something out of nothing. This takes a special person with a unique constitution. But to take that business and...

Cheesecake Factory CEO took his family business nationwide
Los Angeles Times
David Overton, Cheesecake Factory's founder and CEO, opened a restaurant in 1978 to sell the cheesecakes his parents' company made. It worked out well for...

IRS lets you mix business, pleasure
Cincinnati.com
My wife and I work in our family business and plan on attending a trade conference at a beach resort. We would like to take our children and stay a few extra days but don't want to lose the tax breaks for what we spend on the trip.

Who's Taking Over the Family Business?
U.S. News & World Report
Running a family business is tough work. And one of the hardest parts of the job is deciding who will take over the business. What if there isn't a second generation to take over? Or perhaps there is a second generation, but they're not...