Monthly Message - November 2015 - Conway Center for Family Business

Monthly Message – November 2015


MONTHLY MESSAGE  – November 2015

Conquering Communication Challenges in a Family Business
November 19 – 7:30-9:00 a.m.
Alumni Hall at Ohio Dominican University
1215 Sunbury Rd., Columbus, OH 43219
 
The success or failure of business ventures often rises and falls on the strength of its communications. We all know that simply having conversations isn’t enough. It is the quality of the conversation that matters. Conversations provide clarity or confusion. They invite cross-boundary collaboration or add barbed-wire obstacles to the walls between well-defended fiefdoms.

At our November meeting, Thaddeus O’Brien, of O’Brien & Associates, will facilitate an interactive workshop where he will share communication strategies for family businesses. Members and guests will be given the opportunity to learn from each other, sharing their ideas, challenges, and experiences with having meaningful conversations that build trust and confidence with family members, non-family employees, partners and customers.   

The session will help participants learn communication strategies for the following areas: breaking through technology barriers, bridging the gap between founders and next generation leaders, and broaching delicate subjects like compensation, succession, or plans for the future of the business.

An organizational consultant who has worked with numerous family-owned businesses for the past 30 years, O’Brien also facilitates the Conway Center’s Next Generation Leaders and Succession Planning Peer Groups. He is licensed as a psychologist in Ohio and holds masters and doctoral degrees from the University of Chicago. He also is a member of the American Psychological Association.

Sign up today!
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.

Roundtable

Plan to Succeed: A Blueprint for Setting and Achieving Your Goals 
December 3 – 8:00-9:00 a.m. 
Ohio Dominican University 
Griffin Student Center 
1215 Sunbury Road, Columbus, 43219

How can your goals be aligned with your vision, mission and daily actions?  What mindset is needed to meet your daily challenges?  This session, led by Sue Hiser, Program Director for Leadership Development at OhioHealth, will help you incorporate key shifts that will help you bring your best self to your goals.

Hiser will focus on helping you manage your goals so you can be successful in your role as a leader and in relation to your team so you can maximize your effectiveness and have a positive impact on your family business.
   
Sign up today!
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

Managing Family Business Relationships:
Siblings, In-Laws, and Spouses, Oh My!
December 17 – 7:30-9:00 a.m.
Alumni Hall at Ohio Dominican University
1215 Sunbury Rd., Columbus, OH 43219
 
Conway Center Advisory Board Member Becky Blatt, of Columbus 2020, will moderate a panel of family business leaders during a lively discussion about how they manage their unique family dynamics. What makes working with your brother or sister so much different than a non-family associate? How do you handle going home at night to the spouse who made you crazy at work that day? How do you tell your father-in-law that you’ve got a better business strategy than “what’s always worked”?
 
From their experiences of working with spouses, siblings, in-laws, or founders, this panel will share funny and thoughtful accounts of what’s worked (and what hasn’t!) in their own family businesses. Don’t miss the last educational program of the year where you’ll gain insight into your own relationships and ideas for how to manage the doubly important family and business relationships that matter to you most!
 
Sign up today!
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 everyone who attended the 17th Annual Family Business Awards and Expo. With 60 vendors and 600 guests at the Hilton at Easton, it was our biggest event ever! We were delighted to see so many members and family business and community leaders enjoying the event and visiting with each other. It was like a great big family reunion!
 
We’d also like to congratulate all of this year’s honorees for their success in 2015:
 
Communication


CASTO Management Services, Inc.
EclipseCorp
Kimball Midwest
           
Community Engagement
Champion Real Estate Services
Lake Shore Cryotronics, Inc.
White Castle System, Inc.
           
Family Business of the Year

Donatos Pizza
           
Legacy

Hina Environmental Solutions, LLC
           
Lifetime Achievement

Lewis R. Smoot, Sr., The Smoot Corporation
           
Milestone Achievements
5 Years – Champion Real Estate Services
10 Years – CMax Advisors
20 Years – PRISM Marketing, Royal Document Destruction, Sequent
25 Years – RICOP Construction Company
30 Years – Capitol Citicom, Inc., Grove City Tree Service, LLC
35 Years – Mid Ohio Strategic Technologies
50 Years – Anomatic Corporation, G&J Pepsi-Cola Bottlers, Inc., Krieger Ford
65 Years – The Strait & Lamp Group
70 Years – Florentine Restaurant, Inc.
75 Years – Oakland Nurseries, Inc.
80 Years – Spirit Services Company
100 Years – Reitter Stucco and Supply Co., Inc.
110 Years – Diehl-Whittaker Funeral Service
125 Years – Sutphen
160 Years – Schoedinger Funeral and Cremation Service
Named to Pizza Today Top 10 – Flyers Pizza and Subs
Received Select Registry’s Stafford Smith Award – Ellen Grinsfelder, Inn & Spa at Cedar Falls
 
Re-Invention

Burton Metal Finishing, Inc. & Powder Coating
Spirit Services Company
UNIGLOBE Travel Designers
           
Succession Planning/Implementation

Dublin Cleaners & New Albany Cleaners
Ohio Power Tool
 
A HUGE thank you to our sponsors for making this event possible: BUSINESS FIRST, DEFINITY PARTNERS, FATHOM, FIRST MERCHANTS BANK, GRYPHON FINANCIAL PARTNERS, RIDER + REINKE FINANCIAL GROUP, TAFT/, and WHITE CASTLE. Thanks also to Artina Promotional Products, Capitol Citicom, Outreach Promotional Solutions, and Rich Images Photography for their special support.
 
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 Assistant Director, Jill Hofmans, at
Coordinator@FamilyBusinessCenter.com
or visit
www.FamilyBusinessCenter.com
for a full schedule of Peer Group programs.
 
Leadership Development Peer Group
November 17, 2015
8:00 a.m. – 9:30 a.m.
Room 274 – Griffin Center at Ohio Dominican University
Topic: Emotional Intelligence
 
Business Development Peer Group
November 18, 2015*
7:30 – 9:00 a.m.
Room 274 – Griffin Center at Ohio Dominican University
Topic: What’s Your Action Plan?  Making It Rain
*Note date change
 
Online Strategy Peer Group
December 2, 2015
8:00 – 9:30 a.m.
Fathom Columbus
1465 Northwest Blvd.
Columbus, OH 43212
Topic: Online Reputation Management
 
Women in Family Business Peer Group *(note venue change)
December 8, 2015
7:30 a.m. – 9:00 a.m.
Panera Easton*
Topic: 2016 Planning Session
 
Next Generation Leaders Peer Group
December 8, 2015
Noon – 1:00 p.m.
O’Brien & Associates
47 W. 3rd Avenue
Columbus, OH 43201
 
Leadership 2.0
December 9, 2015
8:00 – 9:30 a.m.
Integrated Leadership Systems
501 W. Schrock Rd.
Suite 200
Westerville, OH 43081
 
Next Generation Leaders 2016 Orientation
December 9, 2015
Noon – 1:00 p.m. (lunch provided)
Room 258 – Griffin Center at Ohio Dominican University
Topic: Meet and greet for potential 2016 peer group members
 
Succession Planning Peer Group
December 10, 2015
7:30 a.m. – 9:00 a.m.
Room 274 – Griffin Center at Ohio Dominican University
Topic: Pros and Cons of Gifts vs. Sales to Next Gen
 
CEO Peer Group
December 10, 2015
6:00 p.m.
Holiday Dinner
Black Point
570 N. High Street
Columbus, OH 43215
Invitation only; RSVP required

Member Events

10 Things Great Companies Do – Learn Over Lunch Program
First Merchants Bank’s Learn over Lunch Educational Series continues on 
Wednesday, November 18, from 11:30 AM to 1:00 PM at their office,
3650 Olentangy River Road. The topic is
“10 Things Great Companies Do”
with Kelly Borth, CEO and Chief Strategy Officer at GREENCREST. Kelly will be speaking about what great companies do right with ten take-away ideas for your business and how they grow your business’ value. If you are interested, please contact Brittany Lang to enroll at 
blang@firstmerchants.com
or 614-583-2040
.  There is limited seating available.
Lunch will be provided.
 
Webinar – The Good, the Bad, and the Ugly:
2015 Year-End Tax Planning Strategies for Individuals
Join Plante Moran’s personal tax experts on December 1 as they provide updates on 2015’s top year-end tax planning tips for individuals. This webinar will cover tax legislation and developing trends that will impact your tax exposure in 2015 and beyond. Specialists will summarize the most important information you need to lower your tax bill, including managing tax rates effectively, the impact of the Alternative Minimum Tax, planning for earned income and investment income surtaxes, managing charitable contributions and investments, foreign bank account reporting, identity theft, and more.

Register by clicking
here.

Member News

Canton Repository
Columbus Equipment
Co. is expanding to Massillon with plans to open a new … The company, which began operating in 1952, is a heavy equipment
 
Business First
W
hen Commerce National and Cooper State banks open Oct. 26, both will do so under the First Merchants Bank brand, which overnight becomes Central Ohio’s 18th-largest deposit holder.
 
Grote Co
….will add 13 jobs and spend $850,000 to expand its headquarters in Gahanna, the company said Monday. Grote Co. bought the Chicago based company in July for an undisclosed sum.
 

Cincinnati Investment Adviser Joins Columbus Firm to Open Local Office

Cincinnati Business Courier  

After searching for the right fit for his next gig and talking to about 15 different firms, Regan opted to join Joel Guth and his Gryphon Financial Partners.

 
Richland Source
MT Business Technologies
, Inc., of Mansfield, has earned Ricoh’s RFG Circle of Excellence Certification for 2016…
 
Schoedinger Funeral and Cremation Service: 160th Anniversary*
Family Business Magazine
The Columbus, Ohio, business which made a big splash for its 150th, took a subtler approach this time around…
*No link available – check out your print issue for the full story.

White Castle Krave

Quality Assurance and Food Safety

How does a regional fast food burger chain known for its late-night imbibers become a national retail sensation, Time magazine’s “Most Influential Burger of All Time,” and the number one seller of frozen product of its kind?

 
Ohio Insurance Advisors Will Take the Family Name 

Effective January 1, 2016, second-generation independent insurance agency Ohio Insurance Advisors will become Wolfe Insurance Group, LLC. New owner Weston Wolfe, COO, will serve as President and CEO. He will succeed his father, Victor Wolfe, who will remain a principal at the company. In addition, the Wolfe Insurance Group office is relocating to 630 East Broad Street, Columbus.

Interesting Reading

Family Business Marketing Strategies-Get the Best Bang for Your Buck
Columbus CEO magazine
For family businesses to take advantage of and benefit from a “best bang” strategy, they must approach it from a position of strength and knowledge-not by “shooting from the hip.”
 

Findley Davies
The changes outlined in the proposed overtime regulations will likely impact financial results, human resources and information systems. Consider how the changes will impact compensation planning and administration as well as how managers will monitor and approve overtime hours.  
      

Plotting Your Exit – Pros and Cons of Six Exit Strategies
FocusCFO
After running your business for years – perhaps decades – the thought of no longer being involved in it may be a welcome one, especially if you’re retiring and thinking about all of the time you’ll have to relax and do the things you enjoy. However, the bridge between managing your business and retiring (or moving on to another project) must be crossed first. You have to execute your exit plan.
 

The Benefits of Using QuickBooks 
Holbrook & Manter

QuickBooks has various editions available to best suit a specific business; such as small business, manufacturing & wholesale, non-profit, and contractors).  

Rea & Associates
Thanksgiving – the day when families everywhere gather around the dinner table to bask in the strength and solidarity of the family unit over turkey, stuffing and pumpkin pie. But sometimes these get-togethers can become volatile – especially when one or more members of the family have hurt feelings or are questioning the loyalty of others.

Year-End Tax Planning: The Good, the Bad, and the Ugly 
Plante Moran
2015 wasn’t a particularly dramatic year for tax; instead, it’s been a year of new tweaks and continued trends. We’ve rounded up a few of the more notable tax developments here – the good, the bad, and the ugly – as well as our tips for effective planning.

 

Facing the Challenges of Passing on a Family Business

Deseret News
About 90 percent of all small businesses are family owned, but only 30 percent have a formal succession plan in place, said Garrett Barnes, senior…
 
Harvard Business Review (blog)
Family
 A lived in one room. They conducted business around the lunch table. The nine siblings, who equally owned the business and served in key…
 
Business Insider
More than 500 people gathered on Sunday in Westbrook, Maine, to pay respects to Leon Gorman, former president and chairman of familyowned L.L Bean…
 
Forbes
family business is often a double-edged sword. At best, it can be an invaluable opportunity to build something great over time, passing down…
 
Forbes
If you’ve never been deeply enmeshed in a family business, I can tell you…. becoming a certified woman-owned business enterprise and finding my…
 
Wall Street Journal (blog)
Two tales from the world of family business. First, the founder of a manufacturing company has four children. The oldest and most…
 
WealthManagement.com
family business provided an organizational structure that they were familiar with and understood, but having effectively closed the door on that part…
Conway Center for Family Business
614-253-4820
J. Richard Emens, Executive Director |
emens@familybusinesscenter.com
Deana Gordon, Managing Director | 
gordon@familybusinesscenter.com

Ohio Dominican University
216 Sunbury Road, 
Columbus, OH 43219