Monthly Message – June 2014 - Conway Center for Family Business

Monthly Message – June 2014

Monthly Message — June 2014

Family Business Night

at the Columbus Clippers!

June 18 – 7:05 p.m.

Huntington Park

330 Huntington Park Lane, Columbus, 43215

The 6th Annual Family Business Night at the Columbus Clippers is coming up soon! Root for your home team as the Clippers take on the Buffalo Bisons, while you enjoy an evening with your family, employees, clients, and others who are passionate about family business. We have a very limited number of seats left in our section, so be sure to get your tickets by emailing your desired ticket quantity to Deana Gordon today at Gordon@FamilyBusinessCenter.com or calling the office at 614-253-4820. Tickets are $10 each.


Breakfast with

Business First

June 20 – 7:00-9:00 a.m.

Ohio Dominican University

Griffin Student Center

1216 Sunbury Road, Columbus, 43219

The Conway Center and Ohio Dominican University are teaming up to host this great networking event with Business First. With anticipated attendance of more than 300, great food, interesting exhibitors, and chances to win wonderful door prizes, this is an event you don’t want to miss!

RSVP to Business First.


Quarterly Roundtable

How Can Social Security Contribute to Your Succession and Retirement Plans?

Program Presented By: Morgan Stanley

July 16 – 8:00-9:00 a.m.

Ohio Dominican University

Bishop Griffin Student Center

1216 Sunbury Road, Columbus, 43219

Whether you are planning your own retirement or starting to think about an exit strategy from your family business (or realize you need to be helping mom and dad), trying to figure out how social security factors into the equation can be challenging and void of common sense. How much of your retirement can be provided for by Social Security when it’s time? Are there limits based on your income level? What age do I start collecting? If I’m divorced, does that play a role? Where does social security fit in with your other financial planning strategies? Get answers to these questions and more during a one hour roundtable discussion led by Jim Bishop, of the Bishop Group at Morgan Stanley. Come hungry, because we will have a hot breakfast buffet and plenty of coffee to get your day started right! A complimentary comprehensive financial plan will also be offered to everyone who attends.

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.


Bonus Program – July 17!

Handling Health Care Changes

An Update for Family Businesses

Ohio Dominican University

Alumni Hall – Community Room

1216 Sunbury Road, Columbus, 43219

Two sessions — Attend one or both!
8:30-10:00 a.m. for companies with less than 50 employees
10:30-Noon for companies with 50+ employees

What’s new with the Affordable Care Act? How will it affect your family business in 2015? What do you need to know now so you can make good health care decisions for your employees this fall? Should you hire more employees or cap your workforce at 49? The ACA typically brings up more questions than answers but we’re going to change that! Scott Rider, of Rider + Reinke Financial Group, and Bruce Davis, of Findley Davies, will share the latest changes and updates in health care to help you make educated decisions for your business.

If you’re not sure which session to attend or find yourself on the bubble between 49 and 50+ employees, plan to attend both sessions to compare your options. You’ll learn how key provisions of the Affordable Care Act come into play based on the size of your business and leave with information that will help you decide whether to grow your workforce in the coming year.

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.


First Annual

Conway Center Golf Event!!

July 22 – 10:00 a.m. – 5:00 p.m.

Little Turtle Golf Club

5400 Little Turtle Way, Westerville, 43081

Sign Up Today to Play or be a Sponsor!

Join us for a fun day of golf and family business networking! Your day on the course will include a golf scramble, fun competitions, and lunch, followed by drinks, appetizers, and a very special auction. There are limited player and team spots left, so sign up today so you don’t miss this opportunity to connect with family business leaders and support the Conway Center!

Tickets are $125 per person, $500 per foursome and include golf, cart, box lunch, appetizers, and 2 drink tickets.

There are also sponsorship opportunities available:

  • Founder Level is $1000 and includes: one foursome, one hole sponsorship, your logo on the banner at registration, recognition in the program, and a mention in the announcements.

  • The Next Generation Level is $500 and includes: two players’ fees, one hole sponsorship, recognition in the program, and a mention in the announcements.

  • Hole Sponsorships are also available for $200.

To register, become a sponsor, or request more information, please contact Deana Gordon at Gordon@FamilyBusinessCenter.com or 614-253-4820.


Family Business Tour and Networking Event

August 14 – 4:00-6:30 p.m.

Spartan Logistics

4140 Lockbourne Rd, Columbus, 43207

Logistics are hot right now and we’re going to give you a behind-the-scenes look at a key player in this industry during the 11th Annual Family Business Tour and Networking Event. Spartan Logistics works with manufacturers to provide outsourced warehousing operations and specializes in food, beverage and packaging distribution. Mark your calendar now for this always fun event!


Directors’ Insight

The Conway Center for Family Business could not exist without the support of many individuals, including our family business and service provider members, trustees, advisory board members, peer group facilitators, and donors, like the Conway Family. We appreciate all of your support! Because of you, the Center would not be able to provide the educational programs and resources that help family businesses to be successful.

This month we would like to thank Eric Sideri, and KeyBank, for sponsoring the final four educational programs this year, above and beyond their annual service provider dues. Their generous support will help us to continue providing quality educational programs that help family businesses transition to future generations and become strong pillars in our community. We appreciate their generosity and value their commitment to Conway Center members

Dick and Deana


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.

Next Generation Leaders Peer Group
June 10, 2014 (last session until September)
12:00 p.m. – 1:00 p.m.
O’Brien & Associates
47 W. 3rd Street, Columbus, 43201

Women in Family Business Peer Group
June 10, 2014
7:30 a.m. – 9:00 a.m.
Griffin Student Center, Room 274
Ohio Dominican University
1216 Sunbury Road, Columbus, 43219
Topic: How to Analyze Financial Statements

Succession Planning Peer Group
June 12, 2014 (last session until September)
7:30 a.m. – 9:00 a.m.
Griffin Student Center, Room 274
Ohio Dominican University
1216 Sunbury Road, Columbus, 43219
Topic: Developing Future Scenarios including Sale

CEO Peer Group
June 16, 2014
12:00 noon
Luncheon & Golf Outing at Pinnacle Golf Course
RSVP to Coordinator@FamilyBusinessCenter.com required

Business Development Peer Group
June 26, 2014 (last session until September)
7:30 a.m. – 9:00 a.m.
Griffin Student Center, Room 274
Ohio Dominican University
1216 Sunbury Road, Columbus, 43219
Topic: Establishing Goals and Building a Culture of Accountability: Who is Managing the Details?

Women in Family Business Peer Group
July 8, 2014
7:30 a.m. – 9:00 a.m.
Griffin Student Center, Room 274
Ohio Dominican University
1216 Sunbury Road, Columbus, 43219
Topic: Helicopter Founders


Welcome New Member

Robin Enterprises Company
Robin Hance, Brad Hance, Allison Hance Redinger, Lindsey Hance
111 N. Otterbein Ave, Westerville, OH 43081
www.robinent.com

Robin Enterprises Company is a commercial printing company that has been serving the Central Ohio for the past 48 years since opening in Westerville in 1966. Founder Robin Hance now serves as Chairman of the Board while his son Brad serves as President and CEO. Brad’s daughters are also involved in the business — Allison Hance Redinger is part of the sales staff, while Lindsey Hance is a Customer Service Representative. Robin Enterprises is one of Ohio’s largest high-tech sheet-fed commercial printing companies. Their high standards focus on quality of product, customer service, and integrity. The Robin Enterprises shop is fully integrated from prepress to finishing allowing for maximum quality control from start to finish.


Welcome New Service Provider

ProfitWorks
Alex Freytag, Christine Freytag, Tom Bouwer
2139 Cheshire Road, Columbus, OH 43221
614-571-8826
www.profitworksllc.com

ProfitWorks helps entrepreneurs get what they want from their businesses by implementing The Entrepreneurial Operating System (EOS) and The Ownership Thinking Management System (OT). EOS helps companies get better at three things they call vision, traction and healthy. Organizations using EOS find that everyone is on the same page with where the company is going and exactly how it is going to get there. Company leaders work together as a more cohesive, functional team and everyone in the organization makes progress each day towards achieving the vision. The OT Management System helps companies diminish or defeat the entitlement mentality that is so pervasive and so devastating in our culture and in many family businesses, and to replace it with cultures of earning – of employees who think and act like owners. The OT Management System provides employees and leadership teams with the tools and training they need to realize their potential, and to create wealth where wealth might never have been created.


Webinar:

The Transition Process: Preparing the Next Generation and Passing the Torch

The next generation of your family likely has many important roles to play — within their lifetimes they may be an owner, employee, manager, leader or director. How do you equip them to play these various roles well so that they can be effective stewards of the family legacy? And how can you facilitate them stepping into leadership roles while protecting the business and the family? In this webinar, starting at 1:00 p.m. on June 11, consultants Steve Miller, David Ransburg and Anne Hargrave share their experiences and perspective on what works best and what to think about when planning for transition. The panel will share a high-level view of key considerations when planning for transition and how to ensure that next generation family members have what they need to succeed. Conway Center members may participate in the program for a discounted rate of $95 per site (a savings of $34). Just enter the following code in the promo code box, and then click on the send button prior to entering your registration details to update your pricing at http://eventcallregistration.com. The Conway Center discount code is: FBCG061195


Member Events

Build Your Brand DIY Workshop

Conway Center Service Provider and Advisory Board member Kelly Borth of GREENCREST, the only Certified Brand Agency in central Ohio and one of only 31 in North America, is offering a unique and exclusive workshop for business owners and CEOs who are eager to learn how to better brand their business. In this powerful 3-hour workshop, you will learn: What a “brand” really is and how it can increase your profitability; The secrets to defining your competitive advantage; How to communicate the “why” factor and why it’s important; What NOT to do when crafting your exclusive brand; The most common re-branding mistakes and blunders; and how a brand can increase the value of your business. For your convenience, this workshop is offered on two separate days. You may choose to attend: June 12 from 1:00 p.m.-4:00 p.m. OR June 13 from 8:00 a.m.-11:00 a.m. at Commerce National Bank, 3650 Olentangy River Road, Columbus, Ohio 43214. To register call 614-885-7921 or register online. GREENCREST’s Brand Discovery Sessions are valued at $7,500, but you can learn how the brand development process works for only $297 per person!

Webinar: Bridging the Gap between Operations and Your CFO

Conway Center Service Provider Definity Partners will present this free webinar on Thursday, June 19, at 2:00 p.m. A high performing CFO is often a succession candidate for the CEO role – to reach this level or performance and impact they must be able to understand operations and be able to help drive growth in multiple areas of the business. Topics covered will include: Smart Metrics – The most important ways to measure operational performance from a finance perspective; Creating a culture of communication between Operations and Finance; and how a CFO can help drive and support culture change on the shop floor. Register here.

Webinar: Cyber Security – A Real Threat Impacting Manufacturers

On Thursday, June 19, from 2-3 p.m., Conway Center Service Provider Plante Moran will present this free webinar. Technological advancements continue to pave the way for improved efficiencies. The challenge for manufacturers is the uncertain risk related to cyber threats. One major cyber attack could paralyze your operations and compromise confidential data. A proactive approach to cyber security, including an understanding of threats and developing sound strategies, can help safeguard your organization. Register today.

Transition Planning: The $10 Trillion Opportunity

On June 19, from 4-6 p.m., Conway Center Service Provider GBQ Partners will present a panel discussion that may change the way you view the future of your business and your life. The unspoken truth is that 100% of privately owned companies eventually change hands. It is just a matter of how and when. Studies have shown that 75% of all Baby Boomer companies representing $10 trillion of wealth will change hands over the next 10 years. We will share the results of a survey centered on transition readiness of over 400 owners of closely-held businesses and some of the results will surprise you.
GBQ Partners, LLC, is located at 230 West Street, 7th Floor, Columbus, OH 43215.
RSVP for this complimentary event today!

VELVETONIA: A SUMMER GALA

On Saturday, June 21, at 6 p.m., Conway Center member Velvet Ice Cream will host a gala to benefit Pelotonia in an effort to find a cure for cancer! At least 50% of your $40 ticket price will be donated to the rider or Peloton of your choice so this event can directly benefit your ride or someone you know. Your ticket provides two cocktails, heavy hors d’oeuvres and entertainment at Velvet Ice Cream, 11324 Mount Vernon Road, Utica, OH 43080.
To purchase tickets please visit: teamgranvillepelotonia.org


Member News

A.D. Farrow Co. Harley-Davidson to Host Inaugural Ride to Country Jam
DigitalJournal.com
A.D. Farrow Co. Harley-Davidson The Shop at NorthStar will host what is sure to be one of the largest charity rides of the summer…

Champion Closes Largest Deal to Date
DigitalJournal.com
Champion Real Estate Services closed on 656 apartments in Hilliard, Ohio. The apartments are comprised of two intertwining communities…

Donatos Pizza rolls out more responsive website
Nation’s Restaurant News
Donatos Pizza has re-launched its website with a more responsive design at a time when a customer’s digital experience has become increasingly…

All Sides Weekend: Chefs in the City
WOSU Public Media
Katzinger’s Deli has been serving mile-high pastrami sandwiches for 30 years, and the Columbus landmark just opened a satellite location…

Westerville Area Resource Ministry presents Award to Lake Shore Cryotronics
The team was honored with a Hand Up award for their dedication and commitment to providing a hand up to those in need in Westerville. The award is given each year in recognition of businesses and individuals who have consistently displayed a passion for serving others in a manner of excellence.

MT Business Technologies Receives NAIOP Award
The Plain Dealer
The annual program recognizes the best projects, real estate transactions and individual performance during the previous year in the commercial real estate industry in Northern Ohio. Office Interior Design – MT Business Technologies, Inc…

Q&A With Greg Overmyer: Insurance ‘More Niche-Oriented Than In The Old Days’
Columbus Business First (blog)
That’s the case, said the Overmyer Hall Associates principal, because of the need for more sophisticated coverage tailored to a client’s particular risks…

Rumpke Under New Leadership
Chillicothe Gazette
Rumpke Waste & Recycling’s board of directors and…

Spartan Logistics Buys Fort Smith Whirlpool Distribution Building
Times Record
Spartan Logistics, a Columbus, Ohio-based company, has agreed to purchase the 619,508-square-foot distribution building from Benton Harbor, Mich…

Premium Ice Cream Maker Launches Partnership With Local Catering Company
DigitalJournal.com
Velvet Ice Cream is pleased to announce it has launched a new partnership with Ohio-based Made From Scratch catering. Made From Scratch now…

‘A Family First’
Mansfield News Journal
Joe Dager, who is chairman of the board of Velvet Ice Cream, talks about the history of the company and reminisces about family members who ran…

Where Your Favorite Fast-Food Chains Began
USA TODAY
One of the first fast-food chains to emerge was White Castle, founded by Bill Ingram in Wichita in 1921; the design of the original White Castle was…

Finalists Underscore Our Love Of Food
Columbus Dispatch
View Slideshow The official food of Columbus: Buckeyes, Columbus-style pizza, Schmidt’s Bahama Mama, Schmidt’s cream puff, and White Castle…


Advisory Board Resources

Several members have told us that they would like to find advisory board members for their family businesses. If you would like more information about starting an advisory board, are interested in serving on an advisory board, or want to meet those who are, please contact Executive Coordinator Jill Hofmans at Coordinator@FamilyBusinessCenter.com or 614-253-4820.


Check out these Advisory Board Articles!

Advisory Boards: Not Just For Big Companies Anymore
FamBiz.com
Do you ever catch yourself saying, “why change, we’ve always done it this way” or “I mentioned that idea before, but no one listened” and “I wish we could do this, but it would hurt his feelings?”

Do You Really Need An Advisory Board?
New York Times
The answer is yes. However, this company makes a pretty compelling case for how a variation of an advisory board works effectively for them.

Selecting Advisory Board Members
Entrepreneur.com
Keep in mind, when selecting board members, it’s a little like dating, you have to impress them before they join you. You have to sell them on your business and management. Too often we mistakenly think they will be honored to serve on our board.

“Board Meeting Or Bored Meeting”
Inc.com
Proper preparation and planning for board meetings is essential for making the meetings most effective. They should not serve as update meetings reviewing financials, but rather tackling strategic issues that really make a difference.


Interesting Reading

How to Keep Your Family Business All in the Family
Small Business Trends
Family business owners are feeling optimistic about the short term, but pessimistic about the long-term outlook for their companies, says a recent…

How To Write A Business Succession Plan
Forbes
According to The U.S. Small Business Administration, nearly 70% of small business owners lack a real succession plan…

4 Best Practices for a Strong Family Business
COSE.org
Family businesses are so different because there are 3 dimensions to consider; family, business and ownership. The added complexity of the family…

Your Money: What Would P. Diddy Do? Don’t Do That
The State
When I read the headlines,”P.Diddy buys $360,000 car for son’s 16th birthday,” I could not help but think, “What a way to mess up a kid, but I guess it’s none of my business…”

Managing the Family Business: Survival’s Secret Sauce Working Knowledge
Harvard Business School
The secret sauce for surviving from generation to generation, says family-business expert John Davis, has three main ingredients: growth, talent and…

LL Bean’s CEO To Step Down In 2016
Bloomberg Business Week (AP)
The first non-family member to lead L.L. Bean is planning to step down in 2016 after more than a decade as CEO, saying the Maine-based retailer is positioned for future growth.

Making Good Business Sense Of Family Values
Western Morning News
If you run a family owned business, you might think about asking yourself some simple, but highly important questions. When did you last have a family…

What You Need to Make Business Work With Your Spouse
Entrepreneur
There are approximately 5.5 million family-owned businesses in the U.S. Of these, about a third are owned and operated by husband-and-wife teams…

When Playing Favorites Works Out
Business Spectator
Nepotism is a perennial issue in family businesses — it comes with the territory. According to a recent PricewaterhouseCoopers survey, 88 per cent of…