Monthly Message — September 2014Leadership Lessons: The Crane Group – A Family Business Success StorySeptember 18 – 7:30-9:00 a.m.Community Room in Alumni HallOhio Dominican University1216 Sunbury Road, Columbus, 43219
The Crane story began in the 1920s, when Robert S. Crane built a business based on designing and producing unique products like the grand chandelier of the Ohio Theater in Columbus. When the Great Depression put an end to his lighting fixture business, he lost nearly everything – except his work ethic, his optimism, and the support of his wife and children. Over the next difficult decade, he held a variety of jobs and eventually created Taytec Corporation in 1947, a modest plastics manufacturing company that would become Crane Group Co. Today, Crane Group is a private holding and management company whose operating companies comprise a broad range of manufacturing and service-related businesses. Their products and services are known for being innovative and of the highest quality. During this program, fourth generation members Brian Westwater and Dan Crane, both Financial Directors at Crane Group, will share the company’s history, values, and passion, and how they’re reflected every day in the current generation of leadership and the company’s associates. They’ll also discuss how they’ve established and continue the enduring relationships they’ve built with customers, distributors, and suppliers and the committed philanthropic role they play in Central Ohio. 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. Expansion and Growth Strategies for Your Family BusinessOctober 16 – 7:30-9:00 a.m.Community Room in Alumni HallOhio Dominican University1216 Sunbury Road, Columbus, 43219How do you know when it’s time to grow or expand your family business? What factors should you consider before you hire more staff or seek financing to take your business to the next level? Tom Dunson, of Commerce National Bank, will lead a panel discussion with family business leaders on strategies that will help you assess your opportunities for growth and expansion risk factors you need to consider. The panel will address financing options for family business leaders who are considering expansion – including the types of financing available, how you qualify for different levels of financing, and where you can apply based on your risk factors. You’ll also gain insight into how to prepare and update your balance sheet to get the best results when meeting with prospective investors, potential partners, and lenders. Family business leaders who have been through the expansion process also will share their perspectives on what worked for their business, what didn’t, and what they would do differently if they did it again. Don’t miss this opportunity to learn how and when you should grow your family business to be sustainable for 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. ODU’s Family Business ClassFree for Conway Center Members!Building, Operating, and Passing on a Family Business will be offered by Ohio Dominican University this fall and Conway Center members are invited to audit the class at no charge. Conway Center co-founders Dick Emens and Bea Wolper will teach the 8 week course which takes place on Thursday nights from 6:00-9:30 p.m. starting on October 16 and concluding on December 11. The class will focus on issues related to the developmental lifecycle of the family business. Family business leader Steve Harmon, president of Spartan Logistics, will lead one session. Given that the vast majority of active (large and small) businesses are family businesses, this course examines critical success factors related to growth, success and succession. Additional topics covered include managing family dynamics in the context of the business, managing family member entrance and exit to the business, and selling or passing on the business. Contact Associate Director Deana Gordon, Gordon@FamilyBusinessCenter.com or 614-253-4820 by October 1 to register. Sign Up Today!16th Annual Family Business Awards and ExpoNovember 7Aladdin Shrine Center3850 Stelzer Road, Columbus, 43219Expo: 10:00 a.m. – Noon Sponsored by: Business First, Commerce National Bank, Definity Partners, Fathom, Gryphon Financial Partners, Rider + Reinke Financial Group, and Taft/ Awards Luncheon Family Business Expo Expo display tables may be reserved for $175. Please RSVP for the Expo by September 12, 2014 in order to guarantee your space. Contact Jill Hofmans at Coordinator@FamilyBusinessCenter.com or 614-253-4820 for more information. Family Business Tour – A Huge Success!Steve Harmon and his staff at Spartan Logistics were wonderful hosts for the 11th Annual Family Business Tour & Networking Event on August 14. They opened up their warehouse to nearly 100 family business leaders and advisors, sharing information about their second-generation business and giving us a behind-the-scenes look at the logistics and warehousing industry. Guests enjoyed yummy food from Catering by Design, a great selection of beverages, a corn hole tournament, and outstanding networking. Thank you to Steve for being such a generous host and making it an event to remember! Directors’ InsightWe are honored to announce that the following companies and individuals will be recognized at the 16th Annual Family Business Awards Program and Expo on November 7th. This special event honors the outstanding performance of family businesses in the areas such as leadership, planning, communication, support, and community service that are best practices needed to maintain a successful and productive family business. Winners in the Communication, Community Engagement, Re-Invention, Succession Planning, and Support Categories will be announced at the program on November 7. We hope to see you there! Family Business of the Year Lifetime Achievement Communication Community Engagement Milestone Achievements Re-Invention Succession Planning and Implementation Support of Family Business Dick and Deana 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 or visit www.FamilyBusinessCenter.com for a full schedule of Peer Group programs. Leadership Development Peer Group Business Development Peer Group Online Strategy Peer Group Human Resources Peer Group Succession Planning Peer Group CEO Peer Group Women’s Peer Group Next Generation Leaders Peer Group Conway Center Blog – Coming Soon!The Conway Center is adding a blog to our website! We would like content to come from our Family Business and Service Provider members on topics of interest to family owned businesses. This is not a place for promoting your business, but for showcasing your thought leadership on issues that excite and inspire family-owned business owners and employees. Hot topics right now are successes and challenges in: succession planning, creating and running advisory boards, leadership development, social media strategies, and philanthropy. We would love to hear from you on these – or any other – topics as they relate to family businesses. Keep in mind:
If you have something to share, in 300-500 words, please contact Jill Hofmans at Coordinator@FamilyBusinessCenter.com. Member EventsHow to Hire Better Leaders WorkshopGetting the right people in the seats is essential for any “good” company to be a “great” company. For many businesses, their hiring success rate is only fifty-five percent! That’s like flipping a coin and hoping for the best. The hiring process should not be a guessing game but a proven process with successful results. In an interactive presentation on September 19, from 8-10 a.m., at The Country Club at Muirfield Village, Alec Broadfoot, of VisionSpark, will cover the following topics:
Seating is limited and available to only business owners and C-level executives who desire success in hiring key leaders for their company. Trusted Advisors working with these company leaders as clients may also qualify. If you are interested in attending or would like more information, please contact Alec at alec@Vision-Spark.com. Build Your Brand DIY Workshop with GREENCRESTGREENCREST, the only Certified Brand Agency in central Ohio and one of only 31 in North America, is offering a unique and exclusive workshop for those eager to learn how to better brand their business. GREENCREST’s Brand Discovery Sessions are valued at $7,500, but you can learn how the brand development process works for only $297 per person! In this powerful 3-hour workshop, you will learn: Build Your Brand DIY Workshop will be offered from 1-4 p.m. at Commerce National Bank, on three separate dates this fall: September 25, October 16, and November 6. Register online at www.greencrest.com/workshops/register. Welcome New MembersSound Communications, Inc. Established in 1983, Sound Communications, Inc. is a Grove City-based, family business with employees in Indiana, Tennessee, and Georgia. With 28 employees, including 3 family members, Sound Communications is the leading integrator of recording-based solutions for business and public entities. Their product lines include contact center and public safety call recording, courtroom recording, and digital video surveillance and recording for fixed and mobile (in-car) applications. Founder and CEO, Garry Stephenson has over 20 years experience in digital recording. His wife, Toni VanHorn-Stephenson, Vice-President, has extensive expertise in business and fiscal management. Second generation member Darin Cooper, President and Systems Engineer, specializes in both mid-level business management and digital recording. Together, the staff of Sound Communications, Inc. works to protect the assets businesses value the most – their property, their customers, and their employees. Member NewsFast 50 and Smart 50 AwardsCongratulations to Our Members!Conway Center members Champion Real Estate, Ohio Power Tool, Overmyer Hall Associates, Preferred Living, and RevLocal were named by Columbus Business First to the 2014 Fast 50 List, which recognizes the fastest-growing private companies in Central Ohio, those that have the largest average annual revenue growth from the previous three years. Great work! Congratulations to Conway Center members who were chosen for the Smart Business Smart 50 Awards, which recognize top executives for their ability to effectively build and lead savvy organizations: Dianne Grote Adams, Safex; Lisa Ingram, White Castle System, Inc.; Kent Johnson, Highlights for Children, Inc.; Tom Krouse, Donatos Pizza; Dr. Mary Lou Luebbe-Gearhart, Au.D, Luebbe Hearing Services; Pat McCurdy, Kimball Midwest; Debra Penzone, The Charles Penzone Salons; Peggy M. Ruhlin, Budros, Ruhlin, & Roe, Inc.; Michael and Randy Schoedinger, Schoedinger Funeral and Cremation Service; Diane Warren, Katzinger’s Delicatessen, LLC; Scott White, IGS Energy; Michelle Yeager-Thornton, Champion Real Estate Services; and Conway Center advisory board member Mary Lynn Foster, Children’s Hunger Alliance. Champion buys 157-unit apartment complex in Delaware, extending record year Crane Group purchases Fla. ‘sheet pile’ business Dublin hoping to prime pump for R&D park with Command Alkon incentive Direct Energy, IGS top survey of Ohio electricity consumers Kimball Midwest Headquarters Expanding In Columbus, Ohio 3D Systems Acquires Laser Reproductions Further Expanding Its Quickparts Network Lincoln Construction Beats Hunger Memory Mile walk to benefit hospice program Sound Communications names new president New title marks milestone for Velvet Burgermeisters: Inside White Castle’s Cult Interesting ReadingTwo Federal Court of Appeals’ Decisions Inject Further Uncertainty into the ACA Were You Overcharged By The Ohio BWC? FIVE WAYS TO LEAVE YOUR BUSINESS, GRACEFULLY Family Businesses Need Entrepreneurs For Long-Run Success Running a family business can have unique challenges Can an Outside CEO Run a Family-Owned Business? Family members can create special kinds of conflict Clear plan helps business succession Keeping Family Dynamics from Becoming Family Dynamite! 5 Family Business Lessons Learned What Parents Should Know Before Their Children Join the Family Business Early financial training can help foolproof family businesses Find the perfect advisor for your business with 5 easy questions |
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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 |
