Monthly Message – December 2014 - Conway Center for Family Business

Monthly Message – December 2014

Monthly Message — December 2014

Strategic Planning:

Re-Invention and Diversification Strategies for Your Family Business

December 18 – 7:30-9:00 a.m.

Alumni Hall at Ohio Dominican University

1216 Sunbury Rd., Columbus, OH 43219

Program presented by:

KeyBank

What can you do if your family business “hits the ceiling” and stops growing? What if changes in your industry mean you have to re-invent your business to survive? How do you get everyone in your business aligned with a new vision? Over the last five years, many family businesses have faced these challenges…and come out on top!

Learn about a business system and real, simple, practical tools that help you get what you want from your business in an interactive session with Alex Freytag, co-founder of ProfitWorks, and Ted Coons, President of Spillman Company.

As a bonus, all attendees will receive a copy of Traction: Get a Grip on Your Business, by Gino Wickman! The book discusses many of the tools that Alex will share so it will be a great follow-up to the presentation.

RSVP to Heather Howell at Admin@FamilyBusinessCenter.com or 614-253-4820. The program is free for Conway Center members and $35 for non-members. Family business leaders attending for the first time may attend as our guest.


Save the Date!

Family Business Advisory Boards from A-Z

January 15 – 7:30-9:00 a.m.

Alumni Hall at Ohio Dominican University

1216 Sunbury Rd., Columbus, OH 43219

Program presented by:

KeyBank

You’ve heard it before – “Your family business needs an advisory board. It’s an important tool that will help you grow your family business”. It’s probably been on your to-do list for a while. Well, now is the time to get started! Howard Task, president of Howard Task Marketing, Management & Advisory Services, will tell you everything you need to know about starting and running an advisory board. Task, and family business leaders he’s worked with, will discuss confidentiality agreements, term limits, selection criteria for board members, frequency of meetings, compensation, and more!

Put this date on your calendar now so you don’t miss it! This program will be valuable for ALL family business leaders – whether you’re getting ready to start a board or already have one in place.

RSVP to Heather Howell at Admin@FamilyBusinessCenter.com or 614-253-4820. The program is free for Conway Center members and $35 for non-members. Family business leaders attending for the first time may attend as our guest.


Directors’ Insight

It has been an exciting and busy year for the Conway Center for Family Business and our members! From stimulating educational programs and peer groups, to fun summer social events, to honoring another outstanding group of deserving family businesses at our annual awards program, our members have had a successful year of growth and education. We are looking forward to wrapping up 2014 with one last morning educational program, Strategic Planning: Re-Invention and Diversification Strategies for Your Family Business on December 18, and having time to celebrate the holiday season with family.

As you prepare for the New Year, be sure to check out our new line-up of educational programs and peer group offerings for 2015. The topics, chosen from your suggestions and survey responses, will be sure to captivate and inspire you to keep growing and improving your family business. You’ll hear from 2014 Family Business of the Year Velvet Ice Cream in May, learn about developing a successful family business culture from Jane Grote Abell, of Donatos Pizza, in September, and much more. See the full Conway Center 2015 Schedule online for more information and events. Congratulations on another phenomenal year of family business – we look forward to seeing more of you in 2015!

Happy Holidays!

Dick and Deana


Adverse Weather Plan

If we ever have to cancel an educational program due to inclement weather or unforeseen circumstances, we will notify the media sources listed below and send an e-mail to all of our members. For peer group cancellations, we will notify individuals who have registered and everyone on that peer group distribution list. In addition, all cancellations will be noted on our website calendar.

If you ever wake up and are uncertain whether we will be meeting, please check your email, or turn on your radio or television, and listen for our announcement before you head out the door. If there’s no announcement or no e-mail from us in your inbox, that means we’re waiting for you to join us!

Radio Stations: Sunny 95, 610 WTVN, WNCI 97.9, WOSU 89.7 FM, 97.1 FM.

Television Stations: 4, 6 & 10


Conway Center Peer Groups

To sign up for any of our peer group meetings or to learn more about peer group opportunities contact Executive Coordinator, Jill Hofmans, at Coordinator@FamilyBusinessCenter.com or visit www.FamilyBusinessCenter.com for a full schedule of Peer Group programs.

Leadership Development Peer Group
December 16, 2014
8:00 a.m. – 9:30 a.m.
Room 274 – Griffin Center at Ohio Dominican University
Topic: Communicating Authentically

Business Development Peer Group
No meeting in December.
See you on January 22nd!

Online Strategy Peer Group
January 7, 2015
8:00 a.m. – 9:30 a.m.
Fathom Columbus
1465 Northwest Blvd., Columbus, 43212
Google Analytics: Bring your laptop as we’ll be building your company’s dashboard!

Succession Planning Peer Group
January 8, 2015
7:30 a.m. – 9:00 a.m.
Room 274 – Griffin Center at Ohio Dominican University
Topic: Succession of Management: Getting There: Who can join the Business & When? Requirements? Entry & Exit Issues; Compensation Issues; Share of Company Perks

CEO Peer Group
January 8, 2015
3:30-7:30 p.m.
Advance Sign Group
5150 Walcutt Court, Columbus, OH 43228
RSVP required

Women in Family Business Peer Group
January 13, 2015
7:30 a.m. – 9:00 a.m.
Room 274 – Griffin Center at Ohio Dominican University
Topic: Disaster Management and Preparing for the Unexpected

Next Generation Leaders Peer Group
January 13, 2015
Noon – 1:00 p.m.
O’Brien & Associates
47 W. 3rd Avenue, Columbus, OH 43201
First meeting of the new group!


Welcome New Members

Florentine Restaurant
Kay Penzone, Pete Penzone, Nick Penzone
907 West Broad St. Columbus, OH 43222
614-228-2262
www.FlorentineRestaurant.com

The Florentine Restaurant was founded in 1945 by the Penzone family. The 3rd generation of Penzones now runs the Italian restaurant famous for their pasta and sauce. The restaurant has 25 employees, including three family members; Kay Penzone, and her children Pete and Nick Penzone. The Florentine offers dine-in, carry out and catering services, as well as two private rooms for parties and banquets. The Florentine Restaurant takes pride in consistently creating their food with the same great flavor that it has offered for the past 69 years.

Gompf Funeral and Cremation Service
Gene Gompf, LeAnne Gompf, Michalene Gompf-Oates, Greg Gompf
440 Center St. Cardington, OH 43315
419-864-9045
www.gompffh.com

Established in 1949, Gompf Funeral and Cremation Service, based in Cardington, Ohio, has five employees, four of whom are family members. Gompf Funeral and Cremation Service provides a wide variety of funeral and cremation services to celebrate one’s life. Robert Gompf obtained ownership of the business after Harry Curl, the founder died, and a tornado destroyed the funeral home’s original location. Owner Gene Gompf purchased the business from his father, Robert, in 1993, and was recently awarded the designation of Certified Funeral Service Practitioner (C.F.S.P), by the Academy of Professional Funeral Service Practice. Gene runs the business with his wife LeAnne, who is a licensed funeral director and manages public relations for the business. Two of their five children, Michalena and Greg, both served two year apprenticeships under Gene and have their funeral directors licenses. Together, the family strives to provide the attitude of a caring family-owned business and the tradition of small town America.


Member News

750-unit storage building to be constructed Downtown
Columbus Dispatch
Edwards Cos., developer of Neighborhood Launch, is teaming with Brexton Construction to build the storage units, which will range in size from 4 by 5…

Crane Group Buys Stake In Sensit Technologies
Columbus Dispatch
Columbus-based Crane Group has bought an interest in Sensit Technologies…based in Valparaiso, Ind., makes and sells products that detect gas leaks.

CEO of the Year: Donatos’ Jane Grote Abell
Columbus CEO
Donatos was the leading pizza chain in Technomic’s Top 2014 150 Fast-Casual Chain Restaurant Report released in May. Gross sales last year were…

CEO Q&A: Goodwill, outreach valued at Donatos
Columbus Dispatch
In her role as chairwoman of the board for Donatos Pizza, Jane Grote Abell has had to learn to “let go.” By letting go, she said, she gives others the…

Classes offered at The Inn for holiday baking
Logan Daily News
Staff at the Inn & Spa at Cedar Falls are offering two classes for holiday fun. …The Inn will provide the frosting, decorations, sprinkles and the space.

Katzinger’s Deli Marks 30 Years As Nirvana For Noshers
Columbus Dispatch
To eat your way through the mammoth menu at Katzinger’s Delicatessen, you might need about six months and a visit to a cardiologist. This hasn’t stopped people such as myself from trying.

OhioHealth spending $229M to install electronic medical records
Columbus Business First
OhioHealth Corp. is spending $229 million this year and next to install unified electronic medical records across all 11 hospitals and offices…


Interesting Reading

Countdown to 2015: The Tax Edition
Plante Moran
Okay, it’s not Dick Clark, Casey Kasem, or even Ryan Seacrest, but it is the hottest tax countdown around. So sit back and relax while we count down the top individual and business tax considerations for 2014-2015.

Where Are You Spending Your Time?
Columbus Chamber
If you are a leader and you’re reading this article, there is something to be said about your leadership style and your own personal goal of growing and developing. You seek knowledge and explore new ideas – leading to personal growth and development.

Tax Savings And Your Home Office
Holbrook & Manter
The home office deduction is an important tax break associated with self-employment. But not all home offices qualify. And many self-employed individuals don’t know which expenses they’re allowed to write off – and which ones might raise red flags.

Employers Must File Taxes, Make Payments Electronically
Rea & Associates
Starting this January, employers filing in the state of Ohio will be required to use the Ohio Business Gateway to file and remit payment for state and school district income tax withholding returns, according to the Ohio Department of Taxation.

Want To Improve Your Hiring Success?
Conway Center Blog
I have spent over 35 years working in human resources as an administrator, a consultant and as an HR Manager in a family-owned and…

The Common Problems And Solutions Eating At Family Firms From The Inside
Central Valley Business Times
“The underlying factor between those that ultimately succeed and those that have a fiery death boils down to trust,”…

5 Morning Routines For Family Harmony And Business Success
Entrepreneur
The intersection of family life and business can be chaotic. Master the morning schedule and you can achieve your goals and experience success.

The Risks And Rewards Of Co-CEO Arrangements
Family Business Magazine
In family businesses, however, the co-CEO structure often functions quite smoothly, as I noted in 2012. Many family business leaders share the driver’s…

Six Charitable Planning Tips for Family Business Owners
Family Business Resource Center
A family business owner with philanthropic intentions may make a charitable gift of ownership interests in the family business, if planned properly.

Breaking Through The Family Glass Ceiling
Business Spectator
According to US research by Deloitte, Perspectives on family-owned businesses – Governance and succession planning, one in 10 (11 per cent) of…

Daughters In Family Enterprises: Implications And Opportunities…
The Practitioner
For many of them, the family business offers the career fulfillment, financial rewards…

Transferring Power In The Family Business
Harvard Business
Review The problem is often most acute in family businesses, where the original entrepreneur hangs on as he watches others try to help manage or take over…

The Family (Business) That Stays Together…
Forbes
Heading into the Thanksgiving holiday, some of us will be taking a few days leave from our employers – while some will be sitting down with them over…

Managing The Family Business: Are Optimists Or Pessimists Better Leaders?
Working Knowledge
In general, optimists are best suited to lead family-run entrepreneurial … To get the most out of the pessimist in your family-owned company…

Conflicts That Plague Family Businesses
Harvard Business Review
And these problems make family businesses possibly the most difficult to operate. It is obvious common sense that when managerial decisions are…