Monthly Message – June 2015

The Conway Center and Ohio Dominican University are teaming up again 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!

Please register with Business First by clicking here.

We’re almost full but there’s still time to register, become a sponsor, donate to the auction, or sign up for the reception –
deadline is June 30!

Although money management is a critical skill for all next generation leaders, it isn’t typically taught in school or in the office. So how do you learn how to balance a budget, set priorities, and make the most of your money and your company’s? You attend the Conway Center’s Finance 101 Roundtable on budgeting and money management! J.D. Archer, CFP, of Rider + Reinke Financial  Group, and Scott Robertson, of Park National Bank, will team up to teach you key strategies for personal and business budgeting, including:

• Creating a budget around your priorities
• Best budgeting practices and templates
• Using credit reports
• Controlling debt
• Working with fixed and variable expenses
• Ways to measure and track your money
• The difference between good debt and bad debt
• Making your money work for you

This meeting will be valuable for anyone who wants to improve their budgeting skills and learn how to benchmark and track their business and/or personal finances. Scott and J.D. will share examples, templates, and information that will keep you and your business on track as you work toward your financial goals.

Register with 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.

Network and visit with family business peers while you learn about Central Ohio’s oldest family-owned business!

This fun event is free for Conway Center members and their families and Central Ohio family business leaders! Don’t miss the opportunity to go behind the scenes to learn about green burials, pet and human cremation, Central Ohio’s most unique funerals, and how the Schoedinger grief dog helps families through difficult times. Yes, you will meet Willow!

This is a unique opportunity to learn more about a 160-year-old sixth-generation family business and industry leader from multiple generations of the Schoedinger family.

This event is free but requires an RSVP to Heather Howell at 614-253-4820 or Admin@FamilyBusinessCenter.com by August 10, 2015.

The weather’s getting warmer (most of the time) and the sun is shining (sometimes) so that means it must be summer in Ohio and time to start thinking about the Conway Center’s Annual Family Business Awards Program and Expo! But wait, that’s not until November, right? Right – but this growing event takes a lot of time to plan and coordinate so we can make it a special day for our honorees and 500+ guests.

We’ve already reserved a great venue – the Hilton at Easton – and set the date: Monday, November 9th. So, mark your calendar and start making plans for your Expo table display!

We’ve also welcomed some great service provider and family business sponsors: Business First, Commerce National Bank, Fathom, Gryphon Financial Partners, Rider + Reinke Financial Group, Taft, and White Castle. We have room for a few more, so let us know right away if you are interested in being a part of this great event.

We’ll need your help to find the family businesses that are the cream of the crop to recognize at this year’s event. There are eight categories to choose from: Communication, Community Engagement, Family Business of the Year, Lifetime Achievement, Milestone Achievements, Re-Invention, Succession Planning and Support of Family Business. Nominating a family business is easy. Just click here to submit your nomination online. The deadline is July 24 so start sending us your nominees right away. We can’t wait to hear who you think we should select as this year’s top family businesses!

Dick and Deana

 

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.

Please note – Some peer groups take off in July & August to accommodate vacation schedules so be sure to check below and on our online calendar to be sure your peer group is meeting during those months. They’ll start back up again in September so enjoy your summer and join us at Breakfast with Business First, the Golf Open, and the Family Business Tour & Networking Event!

Business Development Peer Group

June 25, 2015

7:30-9:00 a.m.

Room 274 – Griffin Center at Ohio Dominican University
1216 Sunbury Road

Columbus, OH 43219

Topic: Establishing Goals and Building a Culture of Accountability: Who is Managing the Details?

Next Generation Leaders Peer Group

O’Brien & Associates

July 7, 2015

Noon – 1:00 p.m.

47 W. 3rd Avenue

Columbus, OH 43201

CEO Peer Group

July 9, 2015

3:30-7:30 p.m.

Dupler Office

330 W. Spring Street

Columbus, OH 43215

Invitation only/RSVP required

Women in Family Business Peer Group

July 21, 2015

7:30-9:00 a.m.

Room 274 – Griffin Center at Ohio Dominican University

1216 Sunbury Road

Columbus, OH 43219

Topic: Types of Owners

As a member of the Conway Center for Family Business, OhioHealth is aware of the focus you have on the health of your employees. OhioHealth Employer Services is offering Conway Center members an early opportunity to get an onsite flu vaccine event scheduled.

As an employer, you have experienced the direct and indirect effects of the flu on you and your employees. Actual costs of the flu go far beyond the cost of missed work and medical treatment. People who work while they are sick are less productive and spread the flu to their co-workers.

OhioHealth can provide nurses at your workplace to give flu vaccines. The vaccines can then be billed directly to you, the employer at $23.00 each OR billed to your health insurance plan (Aetna, Anthem, Cigna, Medical Mutual and UnitedHealthCare only).

Our schedule fills quickly, so don’t delay in planning flu shots for you and your employees. To take advantage of Priority Scheduling, please call Nicole Karnes at

(614) 544-4627 and mention that you’re a “member of the Conway Center for Family Business”.

Farber Specialty Vehicles

Ken Farber, Nick Farber, Donavin Farber, Alyson Farber, Chris Farber, Craig Farber, John Farber
7052 Americana Parkway, Reynoldsburg, OH 43068
(614) 863-6470
www.farberspecialty.com

Farber Specialty Vehicles has been in business for over 80 years, engaged in the research, design, development, and manufacturing of specialty vehicles for a variety of industries, including law enforcement, command centers, communication vehicles, mobile health, and more.  Currently operated by third generation family members Ken Farber, president, and his brother Nick Farber, vice-president, Farber Specialty Vehicles is in the process of moving into fourth generation leadership. The fourth generation includes Chris Farber managing production, Donavin and Alyson in sales, and Craig Farber and Brian Farber in the purchasing department.  Third generation family member John Farber is retired, but retains a position as the company treasurer.  In 2002, Farber Specialty Vehicles purchased the assets of Custom Coach Corporation, a well-known manufacturer of executive and entertainment transportation.

Free LinkedIn Training from EasyIT
Did you know that LinkedIn now has over 350 million registered users and that the current rate of growth is two new profiles per second?  The question that knowledge should raise is…How do I differentiate myself or my company from the other 350 million users?

 

To help answer that question, Conway Center member EasyIT provides a training class that takes a step-by-step look at the LinkedIn profile, from what to write on a headline to how to use this powerful tool to find prospects.

Benefits of EasyIT’s training class:

• It will make the profiles of you, your employees, and your business look more professional.

• It can strengthen your company brand.

• It can have an impact on your potential customers’ views on your company.

• It is FREE.

Wait, it’s free? Yes. Yes it is. So why wait? For class dates and details, contact Nick Glimsdahl at NGlimsdahl@easyit.com or 614.339.4986.

Author Hopes To Boost Girls’ Self-Esteem  

10TV
For more than 20 years, Debra Penzone, of The Charles Penzone Family of Salons, has served as an artistic director, training director, senior vice president, and now president of The Charles…

 Donatos Pizza on Path to Open 50 Stores 

Columbus Dispatch

Jim Grote knows his Donatos pizza business may never be a billion-dollar brand or stretch from coast to coast, but he’s still chasing growth.

Step Inside OhioHealth’s New Neuroscience Center

ABC6OnYourSide.com

For the past few years, drivers on State Route 315 watched as OhioHealth’s Neuroscience Center rose from the ground…

 ODW’s John Ness Named JACO’s Volunteer of the Month 

Junior Achievement of Central Ohio

As CEO of a family owned business, John Ness well understands the importance of Junior Achievement’s mission to inspire and prepare young people for success in their careers and in life.

A Look Inside Schmidt’s in German Village

Columbus Dispatch

While they no longer make the sausage there, the staff members at Schmidt’s Sausage Haus prepare a variety of German foods and desserts daily for…

Therapy Dog’s Funeral Includes Music, Tennis Balls

Columbus Dispatch

About 25 people and four dogs attended the viewing and chapel service… said Mike Schoedinger, president of Schoedinger Funeral and Cremation Service.

 Strait & Lamp Group Celebrates 65 years 

The Newark Advocate

Over the next 40 years, the lumber company acquired five other businesses to become the Strait & Lamp Group. It also joined the Do It Best co-op.

Photos: Leadership Lessons: Velvet Ice Cream 
Columbus CEO
The Dagers, the family behind Velvet Ice Cream, spoke about its 101-year-old ice cream business at the Conway Center for Family Business’…

Most family-owned businesses planning to hire in 2015

Columbus Dispatch (blog)

Nearly seven in 10 family-owned businesses in central Ohio plan to … the annual survey by the Columbus-based Conway Center for Family Business.

 Worst Cash Flow Management Advice  

FocusCFO

If managing your company’s cash flow was easy, you would have mastered it by now. There are some common-sense steps you can follow to make it easier. But for every common-sense step, there are lack-of-common-sense things to avoid. Learn about the worst cash flow advice we’ve heard and what you should be doing instead.

Will Your Summer Reading List Make You A Better Business Owner?

Rea & Associates

This summer, while you’re sipping on your favorite drink and watching the waves roll in during your annual beach vacation; consider adding at least one of these great books to your summer reading list…

When Goodwill Takes Center Stage

Rea& Associates

Goodwill is a key issue when valuing a business for certain purposes. Changes to the tax code and accounting rules have forced valuators to take a closer look at goodwill and other intangible assets. Keep reading to learn more about how goodwill has gained some muscle as a key player in business valuation.

Deducting Business Bad Debts

Holbrook & Manter
If debt collection is a problem for your business, deducting uncollectible (bad) debts from your tax bill may somewhat lessen the sting of simply writing the debt off your books. Here is some basic information on deducting business bad debts.

How Family Businesses Create Lasting Success

Forbes

…teamed with Kennesaw State University’s Cox Family Enterprise Center to survey 25 of the largest family businesses in the 21 top global markets.

4 Keys to Family Business Success

Crain’s Detroit Business (blog)

This “center of gravity” often helps the family business to maintain a focus on customers and employees — rather than solely focusing on profits.

It’s a Trap: Selling the Family Business to Your Family Could Cost You

Forbes

As business cycles go, this is a great time to sell a family-owned business to the family. In particular, parents can lend money to their children for the …

Are You in The Right Role: How the Wrong People Get Promoted and How to Change It

Fast Company

Research reveals that companies consistently choose the wrong people for management roles. Here’s what you can do to avoid the same mistake.

Four Lessons Firms Can Learn from Family Businesses

Forbes

90% of the world’s companies are family firms. The lessons we learn from them: be more conservative and stick with the people you

Family-Owned Businesses Ripe to Drive Innovation, but Challenges Remain

MiBiz

That’s why Seth Starner, the president of the Holland-based NewNorth Center for Design in Business, thinks family-owned businesses…

Women on Boards of Family Businesses

Forbes

Succession planning was a common concern among the women, all hyper-sensitive to how thorny the “family” aspect of being in a family business can…

Converting a Family Business into a Franchised Brand

Entrepreneur

For Matt Rand, real estate is a family business. However, when he took over Rand Realty, he wasn’t content to continue with business as usual.

Why Family Businesses Should Welcome Women at the Helm

Financial Post

There are some compelling trends helping women transition into top management positions in family businesses.

How to Fire a Family Member

Business First – Louisville

The key to terminating the employment of a family member is to treat the person as you would any employee, in every way, from hiring to firing.