Formalize The Love

                                                                             

Formalize The Love

Join us to learn how Love in a Family Business Can Be Formalized

You have likely heard poet Robert Frost’s proverb, “Good fences make good neighbors” from his 1914 poem, Mending Wall. When it comes to family business, Tom Hubler believes that “formal structure supports family love.”

Family members in business generally love and care about each other. They try to do what’s best for their company and avoid fights. Especially in start-up companies, each working family member operates more independently with little official structure or formal communication. This creates communication voids. Individuals make assumptions without a shared understanding. Small differences fester unresolved until they became painful and unmanageable.

Tom states a family business needs three types of meetings to formalize expectations for the company: Family Meetings, Business Meetings, and Shareholder and Board Meetings.

Large or small, complex or simple, start-up or generational, business families enjoy life, family, relationships and business much more when they take the time to formalize

the love.

In 1980, when Tom began his career as a family business consultant, he was one of the few

professionals addressing family-owned business needs in the United States. Since then, he has played a major role in shaping the family business consultant field, from helping colleges establish family business institutes to working directly as family business consultant for hundreds of clients.

Today, Tom continues his long-standing dedication to helping families of wealth and family-owned businesses succeed. He helps families develop a shared vision for the family and for the business; identify individual talents; tackle any unspoken issues; and create individual and organizational strategies to ensure a personally and financially rewarding business. In addition, Tom assists families of wealth with the creation of a wealth preparation plan that ensures family values continue to emphasize a family culture of gratitude, philanthropy and purposeful living.

Read Tom’s White Paper: Formalize the Love

Join The Network of Family Businesses for a virtual educational Webinar on Wednesday, August 20, 2014 at 11:00 AM Eastern Time, with Tom Hubler.

For additional information email: steve@netfamilybusiness.com

Join us to hear the Story and Experiences of Cargas Systems

Sustained Success With Family AND Employee Ownership

Join us to hear the Story and Experiences of Cargas Systems

June 17, 1988. In a corner of a bedroom in Lancaster, PA, Chip Cargas launches a computer consulting firm with a state-of-the-art Macintosh SE with a 9” screen, dot matrix printer, desk, phone and answering machine. Today, Cargas Systems is a thriving business software and consulting company—with that antique Mac proudly on display in Chip’s office.

Chip developed Cargas Systems based on his vision of a company built on values that inspired and motivated the employees. One of the first sets of “policies and procedures” he designed for the company was the set of core values that remain in place today: teamwork, customer care and shared success. With a background in Industrial Engineering and Human Resources, plus a lifelong interest in developing efficient and effective systems and procedures, Chip determined that helping companies achieve business success would be his company’s primary focus.

Chip was the sole owner of Cargas Systems until 1998 when he introduced employee ownership. Chip reduced his ownership from 100% to 60%, and now 93% of Cargas employees are shareholders in the company. Even those who do not own stock in the company are encouraged to perform according to the employee-owned culture that has been fostered throughout the history of Cargas Systems.

Cargas Systems is an eight-time winner of the Best Places to Work in PA designation, including being #1 medium size company in 2006. 

Chip Cargas is the founder, Chairman & CEO of Cargas Systems, an employee-owned software

company with 54 employees.  Chip received an Honorary Doctorate in Public Service in 2013 from Thaddeus Stevens College of Technology.  He is the 2006 recipient of the Small Business Person of the Year award presented by the Lancaster Chamber of Commerce.  Chip earned his B.S. in Industrial Engineering from Cornell University in 1969.  Chip is enjoys bicycling for commuting, fitness, and fun.  He is the 2007 winner of the Central PA Fittest CEO competition in the male over 50 category. Chip earned his B.S. in Industrial Engineering from Cornell University.

  

Nate Scott is the Vice President of Cargas Systems’ Energy business unit, and has responsibility for

the overall strategy, revenues, and expenses for the division.  Nate oversees the unit’s strategic planning, sales, marketing, product development, consulting and customer service functions.  His ambitious demeanor, consultative approach, and appreciation for technology make Nate an ideal fit as a divisional leader. He earned his B.A. in government and law from Lafayette College

Aaron Cargas, CPA is Manager of Product Development at Cargas Systems. He leads and designs

the product roadmap and strategy of Cargas Energy, software and mobile technology for heating oil, propane and service companies. Aaron joined Cargas Systems in 1996 with a degree in Accounting and a background in public accounting.  Aaron’s business acumen is evident in his Cargas contributions and his humorous and valuable weekly blog posts at ManagerialMayhem.com, reaching 500 readers in 35 countries, and monthly articles for B2B Magazine, reaching 30,000 business professionals in southeastern PA.

Cargas Systems are members of The High Center Elizabethtown College.

Join The Network of FamilyBusinesses for a virtual educational Webinar on Tuesday, July 22nd, 2014 at 11:00 AM Eastern Time, with Chip Cargas, Nate Scott, and Aaron Cargas.

For additional information email: steve@netfamilybusiness.com

Upgraded Website Goes LIVE!

Be sure to check out The Network of Family Businesses website at www.netfamilybusiness.com

We've updated and upgraded our website to provide our members with a faster, friendlier experience.

Check us out and let us know your thoughts; we are striving to meet the needs of Families in Business.

It is all about the Network helping Families build their Legacy!

Webinar: Transitioning the Family Business vs. Selling the Family Business

Benjamin Franklin said, “[N]othing can be said to be certain, except death and taxes.”

If you own a business, you have and will be paying taxes, and you will die, although I have met several owners who believe they will live forever. So, the question is not if I die, but when, and thus, it means there will be a transition of ownership of the business after the owner’s death.

In this webinar, John Reed and Dan Desmond will, in somewhat of a point-counter point version, look at the critical issues that an owner should analyze when planning the succession path of his or her business, including things such as leadership, management identification and training, financial resources, needs and objectives of the owner post-succession and, of course, the employees. Additional issues to consider will include valuation of the business, fiscal health of the company, long-term financial and retirement planning, the current M&A environment, and, finally, whether the owner is truly ready to “pull the trigger.” There are also a host of separate issues to consider if the business has more than one owner in either situation. Lastly, we will also touch on some “scenario planning” to encourage owners that think “I’m not planning on getting out of the business for 15 years”, to identify critical pieces that are common in either path and having them start developing those critical pieces starting today.

John spends much of his time helping family owned businesses transition between generations, and is a huge advocate of successful family transitions, but, moving a business to the next generation is not the only option, and in some circumstances, it may be the wrong option.

A lawyers favorite answer to most questions is - “it depends”. When evaluating whether a sale to an unrelated party or a succession to the next generation is the right path, what’s the right answer? -- say it with me -- it depends.

John T. Reed, Partner, Barley Snyder: John is the chair of the firm's Business Law
Group and Family Business Law Group. John's primary practice is comprised of two separate but related areas: (i) counseling family owned and closely held businesses; and (ii) buying and selling businesses, and in many cases, acting as a general counselor for the business on an ongoing basis after the transaction is completed.

Daniel T. Desmond, Associate, Barley Snyder: Dan is an associate in the firm’s Business Services, Real Estate and Finance and Creditors Rights Groups. In Dan’s

work with business law, he focuses on all facets of business transactions ranging from entity selection and formation and structuring to mergers, acquisitions, succession planning for closely held businesses and securities work for publicly traded companies.

Barley Snyder is also one of the founding members and a current corporate sponsor of the S. Dale High Family Business Center at Elizabethtown College. John leads the firm's efforts at the Center and is a frequent speaker and a regular resource for the CEO Roundtable and Emerging Leaders Groups at the Center.

Join The Network of Family Businesses for a virtual educational Webinar on Thursday, June 26^th, 2014 at 11:00 AM Eastern Time, with John Reed and Dan Desmond.

For additional information email: steve@netfamilybusiness.com

Leadership and The Family Business

Join us to learn Developing Leadership Skills

Our perception shapes our thoughts, our thoughts shape our actions, and our actions shape our habits. Leadership, and ultimately our family and company culture, depend on our habits, our actions, our thoughts and how we perceive our strengths and areas for needed improvement.

How do we gain insight into our leadership strengths and areas for development

How do we give and receive feedback when coaching/mentoring others

How do we gain an understanding of ourselves and our relationships with others

How do we develop action plans for leadership development

Dr. Matthew Sowcik is the Director of Leadership Development and Assistant

Professor in the Jay S. Sidhu School of Business and Leadership at Wilkes University.  Dr. Sowcik also serves as a consultant to The New York Times, focusing on the newspaper’s educational programming around leadership. In addition, Matthew provides design, implementation, and action planning around organizational surveying, and utilizes appropriate diagnostic assessments to discover areas for leadership growth within organizations.

Join The Network of Family Businesses for a virtual educational Webinar on Thursday, May 22^nd, 2014 at 11:00 AM Eastern Time, with Dr. Matthew Sowcik.

For additional information email: steve@netfamilybusiness.com

Hug Your Family

Hug Your People

Hug Your Customers

Join us to hear the Story and Experiences of Jack Mitchell

Jack Mitchell is Chairman of the Mitchells Family of Stores (Mitchells/Richards/Marshs and

Wilkes Bashford), a three-generation family business that operates men’s and women’s specialty stores in Connecticut, New York and California that are nationally renowned for their personal service touches and strong relationships. Jack himself has been recognized as one of the top ten retail visionaries of his time by the Daily News Record, one of the most widely read retail trade publications in the country.

After completing a B.A. at Wesleyan University in 1961 and an M.A. at the University of California-Berkeley, Jack joined the family business, Ed Mitchell, Inc., which was founded by his parents, Ed and Norma, and later became Mitchells of Westport.  In 1995, Mitchells acquired Richards, the leading men’s clothing store in Greenwich, Connecticut, and in 2006, added Marshs of Huntington, Long Island, to the group.  In December of 2009, they also proudly acquired Wilkes Bashford in San Francisco and Palo Alto, California.

Under his leadership, the Mitchells Family of Stores have become well known for employee engagement and longevity and providing exceptional customer service and high quality merchandise in an exciting, friendly, and visually dynamic atmosphere.  Jack is an active leader on the floor listening and learning along side his brother Bill, wife Linda, his three sons and three nephews.

In 2003, Jack Mitchell launched a “second career” as a speaker and author.   His first book, Hug Your Customers: The Proven Way to Personalize Sales and Achieve Astounding Results, was a Wall Street Journal best seller and received rave reviews in the New York Times.  In addition, it was endorsed by Warren Buffet on the cover with the following quote:  “It’s a gem.  I wish everyone at Berkshire would follow his advice – we would own the world.”   In 2008, Jack published his second book, Hug Your People:  The Proven Way to Hire, Inspire, and Recognize Your Employees to Achieve Remarkable Results where he illustrates a business blueprint to personalize relationships to drive success and achieve greater satisfaction at work.

Jack has become known as a passionate enthusiastic public speaker, keynoting at over 200 events for corporations including Morgan Stanley, Conde Nast, Payless, Nike, Starbucks, Wells Fargo, Luxottica and Harvard University addressing audiences of all sizes and reaching over 50,000 people globally with Hug Your Customers/Hug Your People presentations.   Jack has appeared on The NBC Today Show, and Kudlow & Cramer TV show as well as numerous radio interviews and online and print articles.   Jack has been quoted in national magazines as a customer service and management leadership expert.  In April 2005, INC Magazine listed Jack as one of the 26 Entrepreneurs We Love.

Jack shares with his family a number of Community leadership Awards from the Anti-Defamation league, The Menswear Division of UJA-Federation of New York, and Sacred Heart University.  Jack is on the Yale Cancer Board and is an Executive in Residence at the Columbia University School of Business.

Join The Network of Family Businesses for a virtual educational Webinar on Wednesday, April 23^rd, 2014 at 11:00 AM Eastern Time, with Jack Mitchell.

Visit: Hug Your People and Hug Your Customers

For additional information email: steve@netfamilybusiness.com

What A Family Office Is and Is Not

Anecdotally, Family Offices are booming. There is a buzz and that is becoming a self-fulfilling prophecy. More and more Business Families are considering a Family Office.

What is a Family Office? Is a Family Office right for your Family and Business? How are your advisors or team of advisors working and interacting with each other, and how are they working and interacting with your family?

With each additional advisor a family chooses to retain, there is more likelihood of a negative consequence and a Families Legacy will be impacted. Communication is the most critical component of a successful Family, communication between the family and the advisor is also critical, yet frequently neglected.

What questions need to be asked:

            What areas of expertise will benefit you and your family that you’re not receiving today at the professional level you expect?

             Are the professionals you employ providing a highly integrated set of solutions to meet the many different needs / wants of your family?

            How would you and your family benefit if you were able to ensure greater harmony and coordination between your professional advisors?

“Transferring wealth and legacy is complicated by vastly different generational habits, ideologies, and priorities.”

This webinar will help you understand what the questions are you need to ask to gain the correct holistic service that is best for you and your family and your Legacy.

Read the MarchWhite Paper and join The Network of Family Businesses for a virtual educational Webinar on Wednesday, March 26^th, 2014 at 11:00 AM Eastern Time, with Pete Roland and Chuck Porter, of Canon Capital Investment Advisory

Peter Roland - Managing Director, Canon Capital Wealth Management and Family Office Services. A

founder and managing director of an integrated client focused financial services group consisting of a certified public Accounting firm, a wealth management firm, a payroll service company, and a computer solutions firm. Canon Capital Management Group has been serving their clients since 1987.

Pete serves as an independent fiduciary and places his clients’ best interest first and foremost. As a fiduciary he is able to utilize his financial experience to bring together and manage teams of individuals with the required talents and skills to best meet the needs of the client.



Chuck Porter, Jr. AIF® - is a Senior Investment Advisor who manages investment assets for high-net

worth individuals and families, focusing on multi-generational wealth transfer and the transfer of legacy and values. Chuck also holds a Certificate in Financial Management for the Family Office (CFMFO) from Pepperdine University, Graziadio School of Business and Management.

For additional information email: steve@netfamilybusiness.com

Successfully Transitioning Out of the Family Business

Have you gotten to the point in your life, where some, perhaps many, of the dreams you had 20 or 30 years ago have come true?  Or maybe you realize that winning a major award, or the next product launch, or the next promotion is not that important anymore?  Either way, do you find yourself asking, "what's next, now?"

We all do.  I would argue that for business owners, it can be doubly tricky.  I have owned a couple of businesses.  After I left each of them, I sat back and wondered, "what the heck am I gonna do now?".  In one business I lost money, in another I made out pretty well - not enough to "retire" (whatever that means), but enough to take some time off to think.

 “Did you know?

1.    Gray divorce (married couples age 50+ getting divorced) has risen 150% in the past 20 years

2.    Business owners report that leaving their business felt like falling into a black hole – this is called “Retirement Remorse”

3.    60% percent of business owners between the ages of 55-64 have not discussed their exit plans with their spouses or business partners

You will learn:

1.    Successful ways and Unsuccessful ways to leave your business

2.    How to avoid Retirement Remorse

3.    How to build a practical path to The Platinum Years℠, the best 10, 20 or 30 years of life

“Listen to one of the leading experts of helping owners, executives and others deal with the intellectual and emotional aspects of the business transition.”

Read the February White Paper and join The Network of Family Businesses for a virtual educational Webinar on Tuesday, February 25^th, 2014 at 11:00 AM Eastern Time, with Paul Cronin

Paul Cronin, Partner, Successful Transition Planning Institute (STPI) in Cambridge, MA

Paul Cronin brings over 25 years of professional experience in sales, management, consulting and

entrepreneurship to STPI.  In 2009 he began working with STPI’s founder, Jack Beauregard, and has been an integral part of transforming the small consultancy company into a major force in Transition Planning for Baby Boomers. 

  

Paul’s background includes being part of the team that grew Eden Toys, a small NY-based toy manufacturer, into a $90 million company serving thousands of US retailers including TJX, Macy’s and Nordstrom. Paul was the owner of PFC Resources, a business acceleration consulting company focused on helping business owners expand new into new markets as well as a partner in two other consulting firms.  Paul has participated in growing established and start-up businesses, having sold his most recent company in 2008.

Paul Cronin has also presented at the MIT Enterprise Forum, Northeastern University and Salem State University (MA) on issues of entrepreneurship, personal and business transition, running a successful business and business networking. www.successfultransitionplanning.com

For additional information email: steve@netfamilybusiness.com

The Family Business Center at Alvernia University Joins The Network of Family Businesses

FOR IMMEDIATE RELEASE:

The Family Business Center at Alvernia University

Joins The Network of Family Businesses

   

The Family Business Center is designed to strengthen family firms and help them address their most critical problems. The goal of the Center is to provide family business owners and key personnel with timely and valuable information to strengthen their businesses. The activities of the Center include educational seminars featuring nationally recognized speakers and advisors and drawing on the professional expertise of our sponsors and partners. Family-owned businesses are fundamentally important to the U.S. and regional economy and comprise the backbone of our economy. Strengthening entrepreneurial families has a great impact on the community.

The Network of Family of Businesses is an exclusive online network that connects families who want to stay on top of trends while building their family legacies. The online organization, www.netfamilybusiness.com, was developed to meet the businesses owners’ limited time and schedule to get away from the office and attend seminars. An online meeting place also cuts down on the increasing cost of travel.

President of The Network of Family Businesses, Steven K. Moyer, stated this collaboration and partnership is an exciting step in continuing to provide a growing network of families in business access to educational resources as they strive to build their family legacy.

The Network of Family Businesses has over 400 Family Businesses including The Initiative for Family Business & Entrepreneurship of St. Joseph’s University, The High Center for Family Business Elizabethtown College, The New York Family Business Center at Lemoyne and The Wilkes Family Business Alliance.

For more information, or to discuss how The Network of Family Businesses may be able to serve your Family or organization.

The Network can be reached at steve@netfamilybusiness.com or 215-256-5997.

Join Us For A Human Resources Primer For Family Businesses

The old cliché is true: employees are an organization’s most valuable asset.  Cultivating an organization that effectively manages its people is important to any organization—including family businesses. The value of good human resources management is critical for organizational success. Understanding key employment law issues that all organizations need to be aware of, as well as some hot topics in employment law is a must for every family business.

Managing your human resources continues to be a daunting challenge as we continue to observe a transition from transactional to strategic.  However, depending on the industry, staffing size and budget, the degree of this transition greatly varies.  By and large, the days of “Personnel” are by-gone.  Pushing paper-work, payroll, recruitment, medical benefits, workers’ compensation and processing FMLA’s, are more and more being handed-off to 3rd party vendors to manage leaving companies to focus on employee relations and performance. 

This webinar will present:

A very practical and day-by-day approach to Human Resources in light of Human Capital – What’s the value of Human Capital in your organization?  How do you manage your Human Capital?  What human resource processes/systems do you have in place ensuring quality, compliance, enriching your Human Capital Investment, therefore the success of your organization? 

Read the JanuaryWhite Paper and join The Network of Family Businesses for a virtual educational Webinar on Tuesday, January 21^st 2014 at 11:00 AM Eastern Time, with Terry Broach and Aaron Moyer

Terry Broach, Consultant with SKM Associates Family Business Advisors - Terry has over twenty years of a diversified and progressive human resources profession, which includes several years in a

 family-owned and operated business as a generalist, manager, organizational development leader, sales & customer service administration, along with other operational roles. Terry also served as Director of HR & Safety in a Pennsylvania long-term health care facility with multiple campuses. Terry earned a B.A. in Theology from 

Cedarville University in Ohio, continuing onto Pennsylvania where he earned a Masters of Divinity from Biblical Theological Seminary. He immediately entered the full time ministry, which after three years he began to pursue his human resources career. Terry is currently completing his Masters of Science in Human Resources Development at Villanova University in Philadelphia.

Aaron Moyer, Consultant with SKM Associates Family Business Advisors - Prior to joining SKM

Associates, Aaron practiced employment law at Drinker Biddle & Reath LLP in Philadelphia, Pennsylvania.  In his practice, Aaron counseled employers on a variety of employment matters – such as issues with individual employees, policies and practices, in all areas of Human Resource management – Aaron defended employers in litigation brought by former and current employees under various federal, state, and local laws.  His work in these areas includes experience in federal court, state court, the EEOC, and other federal, state and local agencies, as well as the investigation of such claims.  Aaron has extensive experience enforcing and defending non-compete and restrictive covenant agreements and due diligence and labor and employment advice for mergers and acquisitions. Aaron earned his B.S. in Business Management from Grove City College and his J.D. from Vanderbilt University Law School. 

For additional information email: steve@netfamilybusiness.com

Tis The Season

For some families that is a dreaded phrase and for other families that brings warm memories of family gatherings. 

At a time of year when activities tend to outpace the number of hours in a day and the days keep running together, it is important to keep in mind that it is our families that make the season.

In this time of busy-ness, remember to take time for family.

May this season be one of peace, joy, and happiness as you intentionally seek family time.

From my family to yours,

Enjoy the blessings God has bestowed and may your family experience a prosperous 2014.