Monthly Message – November 2014 - Conway Center for Family Business

Monthly Message – November 2014

Monthly Message — November 2014

Shedding the Ties that Bind: Coping with Founders Who Can’t Let Go

November 20 – 7:30-9:00 a.m.

Community Room in Alumni Hall

Ohio Dominican University

1216 Sunbury Road, Columbus, 43219

Program presented by:

KeyBank

Mike Crotty, president of Spirit Services Company, found himself in a situation that no family business leader wants to face – making the hard choice between keeping a family member in the business and making sure the business has a solid future.

During our November educational program, Mike will share the history of Spirit Services, how he found himself at a critical crossroad for the future of his family’s business, how he handled the situation, and what he’s learned along the way. This presentation will be full of valuable insight for founders and next gens alike.

Mike is the fourth-generation owner of Spirit Services Company and strives to grow his family business through innovation, integrity and dedication at the highest levels. Spirit Services, formerly the VanDyne Crotty Company, was founded in 1934. The company provides uniform and textile rental, facility services and supplies, personal protection equipment (PPE) and promotional products throughout a four-state region.

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.


2015 Next Gen Peer Group

Informational Meeting

December 2 – Noon – 1:00 p.m.

Griffin Student Center, Rm. 276

Ohio Dominican University

1216 Sunbury Road, Columbus, 43219

Are you an up-and-coming leader of a family-owned business who will be assuming a greater leadership role in your family’s company or someone who will have that opportunity in the future? If so, you should consider joining the 2015 Next Generation Leaders Peer Group led by organizational psychologist Dr. Thaddeus O’Brien, of O’Brien & Associates.

Dr. O’Brien moderates the group in a roundtable format that gives members insight into the issues and challenges that affect next-generation leaders through guided sessions and peer-to-peer input. Participants also learn to evaluate their own strengths and weaknesses at a time when they are preparing for expanded responsibilities.

Join us to learn more about this valuable peer group!

RSVP to Jill Hofmans,Coordinator@FamilyBusinessCenter.com or 614-253-4820.


Roundtable:

Work Smart! Strategies to Organize Your Day and Maximize Your Productivity

December 4 – 8:00-9:00 a.m.

Griffin Student Center, Rm. 274

Ohio Dominican University

1216 Sunbury Rd., Columbus, OH 43219

Understanding and controlling where you spend your time is critical to streamlining how your business is running day to day. Empowering your team to simplify then standardize their actions and tasks is an initial critical step to taking control of your own schedule so you can drive proactive improvements and strategically grow your family business.

Eric Collet, managing partner at Definity Partners, a Conway Center Service Provider, will introduce the Run, Improve, Grow methodology as he empowers you during this session.

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.


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

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, a family-owned business.

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.


2014 Family Business Expo

A big THANK YOU to all of the exhibiting companies at our Family Business Expo – many of our family business and service provider members participated and we appreciate your time, energy, and support of the Conway Center. We are already looking forward to next year! Participants included: ALNI, Artina Promotional Products, Avison Young, Business First, Cashmans Horse Equipment, Champion Real Estate Services, Commerce National Bank, Corporate Interior Concepts, DaNite Sign Company, Definity Partners, EasyIT, Emens & Wolper Law Firm, Findley Davies, Inc., FirstMerit Bank, FocusCFO, GBQ Partners, GREENCREST, Heiberger Paving, HW&Co., Hylant, Inn and Spa at Cedar Falls, Integrated Leadership Systems, Jendco Safety Supply, Katzinger’s Delicatessen, KeyBank, Kimball Midwest, Luebbe Hearing Services, Medical Repair, Inc./EM Innovations, Merrill Lynch/Bank of America, Mid-Ohio Strategic Technologies, Murray Associates, Norman, Jones, Enlow & Co., Ohio Dominican University, OhioHealth, Ohio Mobile Shredding, Park National Bank, Plante Moran,ProForma Graphic Impressions 2 LLC, Rea & Associates, Inc., RevLocal, RICOP Construction Company, Rider + Reinke Financial Group, Sequent, Inc., Sound Communications, Inc., Spirit Services, Taft Stettinius & Hollister LLP, and Velvet Ice Cream.


Directors’ Insight

Congratulations to the 2014 Conway Center Family Business Awards Recipients! Along with a record number of 500 attendees and 50 exhibitors, we enjoyed showcasing and celebrating the accomplishments of these family businesses and supporters in their respective categories:

Family Business of the Year:

Velvet Ice Cream Company, Inc. – 100 years old!

Lifetime Achievement:

Farah Majidzadeh, Resource International, Inc.

Communication:

Champion Real Estate Services
Integrated Leadership Systems, LLC

Community Engagement:

Luebbe Hearing Services
ms consultants, inc.
Safex, Inc.
Sugardaddy’s Sumptuous Sweeties

Milestone Achievements:

timeless skin solutions – 10 years
Advance Sign Group – 15 years
EclipseCorp – 20 years
Jendco Safety Supply, Inc. – 25 years
IGS Energy – 25 years
Air Force One – 30 years
Katzinger’s Delicatessen – 30 years
Cashmans Horse Equipment – 35 years
Rotolo’s Pizza – 40 years
DaNite Sign Co. – 60 years
Kirk Williams Company – 65 years
Dublin Cleaners & New Albany Cleaners – 80 years

Re-Invention:

ABC Home Services
CASTO Management Services
Rinkov Eyecare Centers

Succession Planning/Implementation:

Diehl-Whittaker Funeral Service, Inc.
Miles-McClellan Construction Co., Inc.
Sound Communications, Inc.

Support of Family Business:

GREENCREST
Johnson Investment Counsel

Director’s Award – Support of the Conway Center and Family Businesses:

Darci Congrove, GBQ Partners

Thank you to our Awards Sponsors: Business First, Commerce National Bank, Definity Partners, Fathom, Gryphon Financial Partners, Rider + Reinke Financial Group, and Taft/. We couldn’t do this event without your support!

We also appreciate Capitol Citicom for printing our signs, banners, schedules and programs; Sugardaddy’s Sumptuous Sweeties and Velvet Ice Cream for our delicious dessert; and Artina Promotional Products for sponsoring our trophies.

Do you know of a family business that should be recognized in 2015? Maybe even your own? Nominations are accepted online all year long. Just click here to nominate an outstanding family business!

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.

Business Development Peer Group
November 12, 2014
7:30 – 9:00 a.m.
Room 274 – Griffin Center at Ohio Dominican University
Topic: What is Your Company’s Sales Philosophy? What is Sales’ Role? What is Marketing’s Role?

Succession Planning Peer Group
November 13, 2014
7:30 – 9:00 a.m.
Room 274 – Griffin Center at Ohio Dominican University
Topic: Succession of Ownership II: Protection of founder for further actions; Buy-Sell provisions, the 4 “Ds”

Leadership Development
November 18, 2014
8:00 – 9:30 a.m.
Room 274 – Griffin Center at Ohio Dominican University
Topic: Emotional Intelligence

Next Generation Leaders 2015 Orientation
December 2, 2014
Noon – 1:00 p.m.
Room 274 – Griffin Center at Ohio Dominican University
Come see if the Next Gen Peer Group is a good fit for you!

Online Strategy Peer Group
December 3, 2014
8:00 – 9:30 a.m.
Fathom Columbus
1465 Northwest Blvd., Columbus, 43212
Topic: Integrated Online Marketing Strategies

Women’s Peer Group
December 9, 2014
7:30 a.m. – 9:00 a.m.
Panera Easton
3942 Townsfair Way, Columbus, 43219
Topic: Planning session for 2015 – we need your input!
Note – Location Change!

Next Gen Peer Group
December 9, 2014
Noon – 1:00 p.m.
O’Brien & Associates
47 W. 3rd Avenue, Columbus, OH 43201

CEO Peer Group
December 10, 2014
6:00 – 9:00 p.m.
Columbus Athletic Club
136 E Broad St, Columbus, 43215


Member Event

Year-End Tax Planning Webinar

On Monday, November 17, from 2-3 p.m. EST, Plante Moran’s tax specialists will count down the top year-end tax strategies for 2014 and beyond. From healthcare reform and fixed asset planning to opportunities for employee compensation and uncertain tax positions, they have something for everyone. They’ll even cover hot state and local tax issues and identity theft security. It’s must-see web TV! Register today.


Ohio Career Exploration Internship Program

Your business can help a high school student find a career and can be reimbursed for 50 percent of an intern’s salary, up to $5,000! The Ohio Career Exploration Internship Program helps high school students explore potential careers and gain valuable work experience in a professional environment. Through an internship of at least 20 weeks and 200 hours of on-the-job training, students have the opportunity to explore all aspects of a profession and gain better understanding of the skills, training, and education needed to enter a career. Click here for details.


Welcome New Members

Asset Strategy Group, LLC
Steve Morris, Adam Morris
501 West Schrock Rd., Westerville, OH 43054
614-423-5175/ www.consultasg.com

Asset Strategies Group, LLC, is a real estate service provider specializing in helping retailers improve real estate performance and return on investment. Their services include strategy, leasing, store design and construction, lease administration, rent accounting, and technology consulting. Their 42 employees, 35 of whom are located in Central Ohio, have helped over 70 specialty retailers reduce their real estate costs, streamline business operations, and better manage their real estate portfolio. ASG was founded in 2002 by Steve Morris, whose son Adam Morris also works for the company.

Holmes Management LLC
Glen E. Holmes, Danielle Holmes
3902 Broadway, Grove City, Ohio 43123
614-539-9999

Founder and President, Glen E. Holmes, established Holmes Management LLC in 1984. Operating out of Grove City, Ohio, Holmes Management is a full-service comprehensive financial consulting and investment management firm. Glen and his daughter, Danielle Holmes – who serves as the firm’s Professional Asset Manager – provide individual and corporate clientele with expert advice in a variety of areas. Holmes Management offers individualized counsel in financial planning, investment asset management, tax planning, retirement, business continuity, and estate planning.


Welcome New Service Provider

Holbrook & Manter, CPAs
Stephen Smith, Brian Ravencraft
775 Yard Street, Suite 160, Columbus, Ohio 43212
614-494-5300
www.HolbrookManter.com

The Business Services and Support Team(BSST) at Holbrook & Manter specializes in assisting family businesses by providing in-house accounting staffing. Founded in 1919 by E.W. Wood, the firm serves clients throughout central Ohio. H&M provides a variety of services, including compilation and review services, financial statement preparation, in-house accounting functions, payroll services, bank and credit card reconciliation, and management reporting. Their clients can use the full array of services or work with H&M to customize the best plan for their a la carte needs. Stephen Smith and Brian Ravencraft are principals with the firm who lead the firm’s practice area.


Member News

Best of Business 2014: Physical Spaces
Columbus CEO
Atlas Butler Heating & Cooling, Corna Kokosing Construction Co., and Oakland Nursery voted the best providers of building services including real estate brokerage, maintenance, contracting and construction.

Flyers Pizza & Subs Ranked #10!
Pizza Today Magazine
Flyers Pizza & Subs was ranked #10 in the list of top 100 Independent pizzeria restaurants in America for 2014-15.

Katzinger’s Deli Marks 30th Year, Looks To Future
Columbus Dispatch
Katzinger’s opened on Oct. 1, 1984, in the former Rudy’s Village Deli…

Ohio-Made Model Lifts Honda, Acura Sales
Columbus Dispatch
“We had a record month last month, and the TLX was a big reason,” said Steve Lindsay, general manager of Lindsay Honda and Lindsay Acura on the …

Spotlight: Darin Cooper, Sound Communications Inc.
Columbus Business First (blog)
“After college I worked in sales for a satellite communications company…”

CFO Says Communication, Planning Critical to White Castle’s Longevity
FEI Daily
White Castle is a 93-year-old restaurant chain and frozen food company that’s owned and operated by the founding Ingram family. The company has…


Interesting Reading

Six Secrets of Family Business Success
Score
There is no fixed definition of a family business. Some consider it a family business if more than one member of the owner’s family works there, or if a…

Family Firms – Business In The Blood
The Economist
In fact, family firms have held their ground and, in recent years have …
Around 85% of $1 billion-plus businesses in South-East Asia are family-run…after his death in September, even though the family owned only 2% of the bank.

The Common Problems – And Solutions – Eating At Family Firms
Valley Business Times
Why do some family businesses prosper and are handed down from one generation to the next when so many others seem to be on the scene one …

The Perils Of The Family Business
American Psychological Association
Psychologists consult with family businesses to help them manage their companies and family members.

Why Have a Business Valued?
Rea & Associates
There are many tax and legal reasons to value a business interest. Proactive owners and their advisers should be familiar with these situations and the potential benefits. This article provides a rundown of some of the common valuation scenarios.

Lessons From a Family Business That Thrives In the Heartland
Entrepreneur
Lisa Troyer runs Bunker Hill Cheese Co, Inc., .a family business in Millersburg, Ohio. She has 70 full time employees plus more than 200 Amish …

Family Business Advisory Board: Stabilizing Force
Sun.Star
“If there were only one ‘success strategy’ I could recommend to a family business, creating an advisory board would be that strategy…”

Why Family Businesses Should Play By Some Rules
Business Spectator
A code of conduct for a family business is an important part of the professionalization of the business. Essentially, it’s the document that deals with the…

3 Tips For Dealing With Millennials In Family Businesses
How Cool Brands Stay Hot
As baby boomers are retiring at a high pace, topics about succession surge within the field of family business literature & science. Numerous …

Lessons From a Family Business 5 Generations Strong
Entrepreneur
No family business owner has more credibility to say that than John V.
Evans, Jr., chief executive officer of D.L. Evans Bank…

Inside The Family Business
Rea & Associates, Inc.
It’s not a coincidence that these family-owned businesses are still going strong. Their survival is rooted in balance, as well as exceptional management …

Things to Know Before Putting Your Kids on the Payroll
Chief Outsiders
According to the US Small Business Administration, 90% of the 21 million small businesses in the US are family owned—and 62% of employed …

3 Tips for Running a Business With Your Spouse Without Divorcing or Going Broke
Entrepreneur
She explained they did not have a perfect marriage, but it did last over
50 years despite running a family business in an industry notorious for high…