Monthly Message – March 2014 - Conway Center for Family Business

Monthly Message – March 2014

Monthly Message – March 2014

Maximizing the Value of Your Family Business

March 20 – 7:30-9:00 a.m.

Ohio Dominican University

Community Room in Alumni Hall

1216 Sunbury Road, Columbus, OH 43219

In the rush of day-to-day work and decisions, family business owners sometimes forget that their business is an investment – something they need to nurture and grow to ensure their financial future and the longevity of the business. Typically, 60% or more of a closely-held business owner’s wealth is tied up in the value of the business, making it their most important asset. Unfortunately, business owners often guess at the value of their business and have no concrete plan to increase it.

During the March Educational Program, Tim McDaniel, CPA/ABV, ASA, CBA, principal at Rea & Associates, and author of Know and Grow the Value of Your Business: An Owner’s Guide to Retiring Rich, will help family business leaders learn how to develop an “investment mindset,” take steps to increase the value of their business, and consider their options for exiting the business — either through a sale to outside parties or by passing it on to family members.

Drawing on his experience with over 2,000 valuation engagements, McDaniel, along with Matina Zenios, of Artina Promotional Products, and Jim Amstutz, of Ohio Power Tool, will discuss the importance of frequent review and attention to ownership value, share key steps in the valuation process, and explain how others outside the business view its value.

Please join us to find out how you can maximize the value of your business and start down the right path to develop a bright future for you, your business, and future generations!

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.


Lunch Program

Wage Continuation/

Retirement Plans

March 20 – Noon-1:30 p.m.

ODU – Griffin Student Center – Room 260

1216 Sunbury Road, Columbus, OH 43219

At the request of our CEO Peer Group participants, we will be hosting a lunchtime discussion for all Conway Center members on Wage Continuation Retirement Plans, with regard to top outgoing officers/leaders. The meeting will be led by service providers James Bishop, of The Guth Group at Morgan Stanley, and Kyle Pifher, of Findley Davies. They will share information and answer any of your questions.

If you are not a member of the CEO Peer Group, there will be an additional fee of $15 for this meeting to cover the cost of lunch. Additionally, an RSVP is required to attend. RSVP by March 17 to Jill Hofmans, Executive Coordinator – Coordinator@FamilyBusinessCenter.com


Roundtable

Resources and Incentives for Family Businesses

April 3 – 8:00-9:00 a.m.

Ohio Dominican University

Griffin Student Center – Rm. 260

1216 Sunbury Road, Columbus, OH 43219

Come learn about incentive programs and eligibility criteria during this Conway Center Roundtable led by Columbus 2020. You’ll also hear first-hand from Kent Johnson, of Highlights for Children, who will discuss his company’s experience working with Columbus 2020, and Dave McCurdy, of Kimball Midwest, who will talk about the process he is currently going through to pursue state and local assistance to grow his family’s business. Over the past three years, Columbus 2020 has helped (at no cost) hundreds of Columbus Region companies maneuver through the maze of state and local programs and resources-including financial and other incentives. During this program, they will work to efficiently assess your individual circumstances and connect you with the programs that best meet your needs. If you are contemplating investing in building, machinery and equipment or adding employees, then this program is for you!

RSVP to Heather Howell at Admin@FamilyBusinessCenter.com or 614-253-4820.


Breaking Through the Clutter:

How To Get Your

Family Business Noticed in Today’s World

April 17 – 7:30-9:00 a.m.

Ohio Dominican University

Community Room in Alumni Hall

1216 Sunbury Road, Columbus, OH 43219

We are all electronically bombarded by messages and images from Facebook, Twitter, LinkedIn, Email, Pinterest, and more. That doesn’t even take into account commercials and news from radio, television and print outlets! How is a family business supposed to get their message heard? When and where do your customers “tune in” and how can you make sure your message is front and center? We’ll tackle this challenge with the help of three Conway Center Service Providers and family business leaders they’ve helped. You’ll hear from Kelly Borth, of GREENCREST, Jeff and Mark Rinkov, of Rinkov Eyecare Centers, Kari Palmer, of Oxiem Brand Interactions, Chris Grosely, of Hague Quality Water; Amy Marshall, of Fathom, and Rebecca Chapman, of Integrated Building Systems. The panel will be moderated by Mark Cooper, Vice President for Marketing and Public Relations at Ohio Dominican University.

Find out how you can maximize your presence on social media, utilize content marketing, manage your online brand reputation, and improve SEO (Search Engine Optimization) at this educational program that will be packed with information you can use to help your family business stand out in a crowded marketplace.

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

Thank you to the many companies who recently completed our second annual Economic Outlook Survey. It was encouraging to learn that 93.5% of respondents think things are going very or somewhat well in Central Ohio. Many of you (65.5%) are planning to increase hiring in 2014, even though finding qualified candidates and implications of health care reform continue to be significant challenges in your businesses. We will share a link to view the survey results in the April Monthly Message or you can request a copy from Deana.

Nearly 47% of you said that “finding qualified workers” is your most significant business challenge overall. This is up from 40.7 percent in our 2013 survey. It’s also one reason why we added a Human Resources Peer Group this year – to help you deal with hiring, compensation, and human resources management challenges.

Implementation of the Affordable Care Act (ACA) also is a big concern, with 35 % saying the ACA has caused them to change business practices. We’re currently working with our service providers to finalize plans for a summer program on “Handling Healthcare Challenges: An Update for Family Businesses” which will provide information about dealing with ACA for family businesses that are above or below the 50 employee benchmark.

We appreciate the time you took to complete this survey and look forward to bringing you program and peer group topics that will match your needs.

Dick and Deana


Summer FUN Trifecta!

Family Business Night at the Clippers!

Wednesday, June 18 – 7:05 p.m.

Huntington Park

Tickets Available NOW!

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’ve purchased a block of tickets in Sections 2 and 3 and hope you can join us. Reserved seats are $10 per ticket (adult and youth). The tickets go fast, so be sure to reserve yours by emailing your desired ticket quantity to Deana Gordon at Gordon@FamilyBusinessCenter.com or calling the office at 614-253-4820.

Conway Center Golf Outing!

Tuesday, July 22 – 10:00 a.m.-5:00 p.m.

Little Turtle Golf Club

You can sign up now!

Join us at Little Turtle Golf Club for a fun day of golf and family business fun and fellowship! Your day on the course will include a golf scramble, fun competitions, and lunch, followed by drinks, appetizers, and a very special auction. You don’t want to 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 each. 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

Thursday, August 14 – 4:00-6:30 p.m.

Spartan Logistics

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 at Spartan Logistics. Mark your calendar now for this always fun event! More details will be coming your way over the next few months!!


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.


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.

CEO Peer Group
March 20, 2014
12:00 p.m. – 1:30 p.m. Lunch
Griffin Center at ODU – Rm. 260
1216 Sunbury Road
Columbus, OH 43219
Topic: Wage Continuation Retirement Plans
*Lunch meeting open to Conway Center members
$15 fee for non-CEO Peer Group members.

Business Development Peer Group
March 27, 2014
7:30-9:00 a.m.
Griffin Center at ODU – Rm. 274
1216 Sunbury Road
Columbus, OH 43219
Topic: What’s Your Story? Does it Emphasize Your Differentiation?

Online Strategy Peer Group
April 2, 2014
8:00-9:30 a.m.
Fathom
1465 Northwest Blvd.
Columbus, OH 43212
Topic: Google Analytics: Part 2

Women’s Peer Group
April 8, 2014
7:30-9:00 a.m.
Griffin Center at ODU – Rm. 274
1216 Sunbury Road
Columbus, OH 43219
Topic: Seven Keys to a Successful Transition

Next Generation Leaders Peer Group
April 24, 2014
12:00-1:00 p.m.
O’Brien & Associates
47 W. 3rd Avenue
Columbus, OH 43201

Succession Planning Peer Group
April 10, 2014
7:30-9:00 a.m.
Griffin Center at ODU – Rm. 274
1216 Sunbury Road
Columbus, OH 43219
Topic: Communication

Human Resources Peer Group
May 2, 2014
8:00-10:00 a.m.
Alumni Hall/Community Room
Ohio Dominican University
1216 Sunbury Road
Columbus, OH 43219
Topic: Recruitment & Hiring Strategies


Member Events

Definity Partners Training Programs

Conway Center Service Provider Definity Partners will be hosting a couple of complementary training events and Conway Center members are invited to attend them to take advantage of these hands-on learning opportunities. To register, click below.

March 20 – 2:00-3:00 p.m.: SIOP Webinar – Sales, Inventory & Operations Planning (SIOP)
webinar
.

April 8 – 8:00 a.m. – 4:00 p.m.: Lean Workshop – Lean Simulation with Technology
Integration

Ohio Health Employer Meeting

Brand new Conway Center Service Provider OhioHealth invites Conway Center members to attend their upcoming annual employer meeting. This year, the meeting will focus on understanding the connection of culture to employer healthcare issues and will provide real life examples of culture shifts that have had a positive impact on managing healthcare. The meeting will take place on Thursday, April 10, from 9:00 a.m. to noon, at Northpointe Hotel & Conference Center, 100 Green Meadows Drive South, Lewis Center, 43035. For questions, or to reserve your place, contact Marissa Michaels at Employer Services at (614) 544-4656 or Marissa.Michaels@ohiohealth.com.


Welcome New Members

Crawford Mechanical
William T. Crawford, Suzette L. Crawford, Billy Crawford
3445 Morse Road
Columbus, OH 43231
614-478-9424
www.crawfordmech.com

Founded in 1992 by William T. Crawford, Crawford Mechanical is a first generation commercial and industrial plumbing business serving residential and commercial properties throughout the Columbus area. In addition to co-owner Suzette Crawford and son Billy Crawford, Crawford Mechanical has 42 employees in Central Ohio. Delivering around-the-clock service, Crawford Mechanical provides emergency care for a variety of plumbing and drainage problems, plumbing remodeling, and gas, sewage, and waterline treatment. Crawford Mechanical believes in investing in their employees – offering an in-office apprenticeship program to full-time employees. Crawford Mechanical holds the ABC Step Award, is a member of Builders Exchange Ohio and the American Subcontractors Association, and partners with ABC/OSHA Partnership for Construction Safety.

Luebbe Hearing Services
Dr. Mary Lou Luebbe-Gearhart, Au.D
5074 N. High St. Columbus, OH
614-431-1010
www.HearOhio.com

You’ll Hear What You’ve Been Missing! Established in 1946, and receiving their fifth consecutive and most recent Consumers’ Choice Award in 2013 for business excellence, quality, value and ethics, Luebbe Hearing Services continues to offer extensive experience, dependability and innovative approaches to evaluating, protecting and improving hearing. Company president, Dr Mary Lou Luebbe-Gearhart, Au.D., is recognized as one of America’s most trusted and knowledgeable hearing experts. With other offices in Circleville and Canal Winchester, she and her professional staff members continue the 68-year family tradition with commitment to patient satisfaction and support, continuing education, and the application of truly amazing, state-of-the-art hearing technology. She and her team love to save marriages and relationships, reduce stress and frustration and improve the quality of everyone’s life. They even offer complimentary hearing screenings and consultations for you or those you care about.

Oakland Nursery, Inc.
John Reiner, Paul Reiner, Genevieve Reiner, Max Reiner, Mark Reiner
1156 Oakland Park Avenue
Columbus, OH 43224
614-268-3834
www.oaklandnursery.com

Starting out as a neighborhood garden center in 1940, founded by Bertha and Gus Reiner, Oakland Nursery has grown to include four retail shops in Columbus, Delaware, Dublin, and New Albany. Oakland Nursery has 400 employees, under second generation leadership by John Reiner and Paul Reiner. Max Reiner, Mark Reiner, and Genevieve Reiner–all third-generation family members–are also involved in the company. Oakland Nursery provides an array of landscape design and gardening services, in addition to irrigation system installation and maintenance, night and holiday lighting, and streetscape decorative planters. Oakland is affiliated with a variety of associations, including the American Nursery and Landscape Association, Ohio Nursery and Landscape Association, and the Ohio Perennial Association. Oakland Nursery and the landscape design department holds numerous awards, was featured in the 5th Annual Reader’s Choice Awards for 2013 in ThisWeek magazine, and was voted the “Best Gardening Shop/Nursery” in the July 2013 edition of Columbus Alive. Oakland Nursery was also elected the “Best Christmas Tree Destination” by Columbus Parent magazine.

VisionSpark
Alec and Sheri Broadfoot
5990 Venture Drive, Ste. D
Dublin, OH 43017
614-389-3375
www.Vision-Spark.com

Founded in 2011 by CEO, Alec Broadfoot and Vice President, Adam McCampbell, VisionSpark partners with companies in hiring the right people through their proprietary interviewing and evaluation process. Currently, if companies interview well, they have a 50% to 55% success rate in hiring. VisionSpark’s process improves that success rate well above 90%. Alec’s wife Sheri is active in the business as their Productivity Advisor. Located in Dublin, VisionSpark offers a variety of services and methods that provide a solid framework to help companies make good hiring decisions. These services include preparing and conducting interviews, training hiring managers to help them choose the best team members, and performing behavioral assessments for potential candidates. In sum, VisionSpark passionately believes that better hires impact the bottom line.

Welcome New Service Providers

OhioHealth
Marissa Michaels, Debbie Donahey
180 E. Broad Street, Columbus, OH 43215
614-544-4656
www.OhioHealth.com

OhioHealth is a family of not-for-profit, faith-based hospitals and healthcare organizations with the shared mission to improve the health of those they serve. OhioHealth is committed to delivering quality, convenient, timely healthcare to all members of the community, regardless of ability to pay. OhioHealth Employer Services offers coordinated, customized workplace healthcare solutions for businesses of all sizes. This includes access to the complete menu of OhioHealth programs and services, offering area employers a path to be a healthier innovator for their associates. OhioHealth Employer Services provides a single point of contact to connect employers to all of the programs and services along its continuum of care in its system of physicians, hospitals and outpatient facilities.

SG Financial Services, LLC
Bill Schiffman, Todd Grow, Kelley King
890 Proprietors Road, Worthington, OH 43085
614-261-0600
www.schiffmangrow.com

SG Financial Services, an affiliate of Schiffman | Grow & Co., has been privileged to serve the Central Ohio region and coast-to-coast clientele for more than a quarter of a century. Located in Worthington, SG Financial Services provides asset management, financial, retirement and estate planning, insurance services (life, disability and long-term care) and ongoing consultation to a diverse group of individuals and corporate clients who represent a wide variety of industries. SG Financial Services provides guidance through their application of The Holistic Advantage process. This logical series of steps includes engagement, careful listening, rigorous analysis, tailored strategy, personalized implementation and enduring service. Founders Bill Schiffman and Todd Grow, along with Vice President Kelley King and the entire SG Financial Services team, work in concert to exceed expectations of their clients. For more background on Kelley see (www.linkedin.com/pub/kelley-king/10/645/444/)


Member News

Ahlum Elected to ASCA Board
Chris Ahlum, Vice President and co-owner of Ahlum & Arbor Tree Preservation was recently elected to serve a three-year term on the American Society of Consulting Arborists (ASCA) national Board of Directors.

Local Businessman To Complete 30-Month, 7-Continent Marathon Challenge
NBC4i.com
Atlas Butler Heating and Cooling President Mark Swepston is a community leader, teaming up with NBC4 to support the NBC4 … he is always on the go, running all day and for the last 20 years, running marathons as well.

Former South Side school to be reborn as social-services center
Columbus Dispatch
Tanny Crane, CEO of the Crane Group and one of the leaders working to restore the building, called the work a “project for prosperity.” The South …

Donatos Pizza names new COO
Nation’s Restaurant News
Donatos Pizza has named Thomas G. Pendrey chief operating officer of the Columbus, Ohio-based chain, a newly created position.

Highlights’ Hello Magazine Honored with Prestigious Parents’ Choice Award
DigitalJournal.com
Highlights for Children, the leading family media brand and publisher of the best-read children’s magazines in North America, was awarded the …

Hearing center to move
Circleville Herald
Dr. Mary Lou Luebbe-Gearhart said feedback from patients about the move … Luebbe-Gearhart’s father, Albert, founded Luebbe Hearing Services in…

Conway Scholarship to Support Family-Owned Business
A newly established Conway Endowed Family Business Scholarship Fund will support and encourage growth and succession of family businesses in Central Ohio. Starting in fall 2015, Ohio Dominican University will award the Conway Scholarship to one first-year student every four years as long as the student meets the requirements of the scholarship. The Conway Scholarship is made possible by a generous gift to ODU from the Conway Family Lead Annuity Trust.

OhioHealth joining highly regarded MD Anderson Cancer Network
Business First of Columbus
Now another of the most-recognized names in cancer care is entering the Central Ohio market: OhioHealth Corp. announced Friday that it is starting…

Boomers will change the way funerals are held, too
Akron Legal News
People want to celebrate a life rather than mourn the death,said Michael Schoedinger, president of Schoedinger Funeral and Cremation Services

Logistics company leases Park 100 space
Indianapolis Star
Columbus, Ohio-based Spartan Logistics will lease a 128,000-square-foot manufacturing and distribution center in Park 100…

Ohio ice cream maker celebrates landmark 100th anniversary
Newark Advocate
In a distinction achieved by just 3 percent of American businesses, Ohio ice cream manufacturer Velvet Ice Cream celebrates its 100th birthday on May 1, 2014.

White Castle VP: Patent trolls have ‘made us really gun-shy’
Legal News Line
Jamie Richardson, the vice president of corporate relations at Whistle Castle System Inc…

Medina City School District turns to cogeneration to provide heat, power for high school, recreation…
The Plain Dealer
H. Tom Drake, left, of W.W. Williams, and Eric Betz from The Brewer-Garrett Company explain how the new cogeneration unit at Medina High School…


Interesting Reading

Family Business Series
Columbus CEO magazine
In conjunction with the Conway Center, Columbus CEO magazine is posting a monthly online article written for or by family business leaders. Articles about succession, advisors, and Oscars for family businesses’

Family-owned businesses are key to economy
La Crosse Tribune
Family businesses account for 50 percent of the U.S. gross domestic…

The Frequently Fatal Family Business Flaw: Denial
Entrepreneur
From the family-run retailer Wal-Mart to the neighborhood mom-and-pop corner store, the family-owned business (FOB) is a vital part of the American…

Marketing the family connection
Business Spectator
How much of the family connection needs to go into the marketing of a family business? The argument in favour goes like this: a good corporate…

The succession you have when you don’t have succession
Business Spectator
One way for a family business to handle succession is to not do it at all:
each new generation starts again. That’s how the Birkill family has done it in…

Serving as a Non-family Board Member of a Family Business
jdsupra.com
You have been approached by a long-time friend, the CFO of a family-owned business who is herself a member of the family. She asks if you might be…

How to make a splintered family business work
Business Spectator
What happens when the next generation is split into family factions?
Having kids from multiple marriages can fragment a family business if legal…

Six Steps For Making Your Business A Family Legacy
Forbes
A Tale of Two Dry-Cleaners I was in a meeting of small business owners when one owner suddenly broke into tears. He owned a multi-store…

How to break the 3rd generation succession curse of family…
InterAksyon
Family-owned businesses oftentimes struggle to go beyond the … “Family businesses must allow entrepreneurship to incubate within the …