Monthly Message – March 2014Maximizing the Value of Your Family BusinessMarch 20 – 7:30-9:00 a.m.Ohio Dominican UniversityCommunity Room in Alumni Hall1216 Sunbury Road, Columbus, OH 43219In 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 ProgramWage Continuation/Retirement PlansMarch 20 – Noon-1:30 p.m.ODU – Griffin Student Center – Room 2601216 Sunbury Road, Columbus, OH 43219At 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 RoundtableResources and Incentives for Family BusinessesApril 3 – 8:00-9:00 a.m.Ohio Dominican UniversityGriffin Student Center – Rm. 2601216 Sunbury Road, Columbus, OH 43219Come 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 YourFamily Business Noticed in Today’s WorldApril 17 – 7:30-9:00 a.m.Ohio Dominican UniversityCommunity Room in Alumni Hall1216 Sunbury Road, Columbus, OH 43219We 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’ InsightThank 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 ParkTickets 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 ClubYou 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 EventThursday, August 14 – 4:00-6:30 p.m.Spartan LogisticsLogistics 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 ResourcesSeveral 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 GroupsTo 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 Business Development Peer Group Online Strategy Peer Group Women’s Peer Group Next Generation Leaders Peer Group Succession Planning Peer Group Human Resources Peer Group Member EventsDefinity Partners Training ProgramsConway 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) April 8 – 8:00 a.m. – 4:00 p.m.: Lean Workshop – Lean Simulation with Technology Ohio Health Employer MeetingBrand 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 MembersCrawford Mechanical 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 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. 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 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 ProvidersOhioHealth 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 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 NewsAhlum Elected to ASCA Board Local Businessman To Complete 30-Month, 7-Continent Marathon Challenge Former South Side school to be reborn as social-services center Donatos Pizza names new COO Highlights’ Hello Magazine Honored with Prestigious Parents’ Choice Award Hearing center to move Conway Scholarship to Support Family-Owned Business OhioHealth joining highly regarded MD Anderson Cancer Network Boomers will change the way funerals are held, too Logistics company leases Park 100 space Ohio ice cream maker celebrates landmark 100th anniversary White Castle VP: Patent trolls have ‘made us really gun-shy’ Medina City School District turns to cogeneration to provide heat, power for high school, recreation… Interesting ReadingFamily Business Series Family-owned businesses are key to economy The Frequently Fatal Family Business Flaw: Denial Marketing the family connection The succession you have when you don’t have succession Serving as a Non-family Board Member of a Family Business How to make a splintered family business work Six Steps For Making Your Business A Family Legacy How to break the 3rd generation succession curse of family… |
Upcoming Programs
Connect With UsContact UsConway Center for Family Business J. Richard Emens Deana Gordon MembershipMembership 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 |
