2018 Family Business Conference Agenda
Thursday, April 12
7am – Registration
8am – Welcome
8:15am – Opening Keynote: Stacey Cunningham
Ship shape or ship wreck – How would you rate your ship?
It has been one year since you heard Captain Mike Abrashoff’s phenomenal story of success on USS Benfold. In this session, we re-visit Mike’s key themes and then apply his grassroots leadership approach to some of the biggest challenges you are facing as a family owned business – dealing with generational differences, communication and conflict.
This fast-paced yet interactive session will give you a chance to roll up your sleeves and determine where you are ship shape or where you might be a ship wreck! Come prepared to work hard, problem solve and leave with your leadership toolbox refreshed!
10:15am – Networking Break
10:45am – Success Story: Craig Culver, Culver’s
Craig is second generation owner and chair of the board of Culver’s. He serves on the board alongside his brother and sister. Learn lessons from Culver’s as they have grown, expanded and hired non-family leadership to lead the organization.
12pm – Lunch
12:45pm – Family Business Research Findings
De Vee Dykstra, USD Beacom School of Business and Tyler Custis, USD Beacom School of Business
1pm – Speaker: Wayne Rivers, Family Business Institute
No B.S. Family Business Planning
Internationally acclaimed writer and family business authority Wayne Rivers of The Family Business Institute, Inc., will present “No B.S. Family Business Planning.” So much of family owned business education is focused on “soft issues” like improving communication. Wayne’s approach is very different; he’ll show you a tried and proven, step-by-step strategic planning method for maximizing BOTH the success of your business AND your family harmony.
2:30pm – Networking Break
3pm – Rapid Fire Family Business Lessons
- Tura Synhorst, Coca-Cola Bottling Co. High Country
- Emergency Plans and Continuous Family Business Planning
- Resource: PFBA Family Business Retreat
- Jay Bender, Falcon Plastics
- Performance Reviews
- Resource: SilverStone Group
- Katie Harrington, Steffes Corporation
- Darcy Burner, Triview Quality Communications
- Buy/Sell Agreement, Strategic Plan, Business Valuation
- Resource: Goosmann Law, PFBA Live Case Study
- Eric Weisser, Weisser Distributing
- Growing your Family Business
- Resource: B2B CFO
3:25pm – Networking Break
Rapid Fire speakers available for questions.
3:45pm – Breakout Sessions
Build and Implement the Advisory Board of Your Dreams.
You know an advisory board is a good idea and may be an ideal exit strategy for current owners. How do you select board members? How do you compensate them? What is on your board meeting agenda? Do you they know everything about your business? Who sits in on the meetings? Learn how Muth Electric created and implemented an advisory board and how it has made the family and business stronger than ever.
Leadership & Next Generation Development
Dr. Justin Anderson – JSA Advising
This presentation explores the foundations of what makes great teams great – from the ground up, pulled from the best research and concepts in elite sports and high-performing family business. We begin with education around intentional awareness (i.e., “focus”), and the natural human tendencies that can play into growth and development. Through the lens of emotional intelligence, we identify the specific qualities that great leaders must possess or develop in order to continue to develop themselves and those around them, as well as explore deficits and patterns that can detract from individuals and teams advancing to the next level. Together, we explore the family business legacy and how it can be carried from one generation to the next, and beyond.
5:30pm – Social
6:15pm – Dinner
7pm – Awards
Friday, April 13
7am – Optional Roundtables
- Cyber Security Threats: It’s Not If, It’s When – Eric Pulse of Eide Bailly
- Dealing with Performance Management Effectively – Mary Jo Vance of The Weston Group
- Family Systems & Relationships in Family Business – Agatha Johnson of Generations to Generations
- Implementing Traction: Issues, To Do’s and Rocks… Oh My! – Gayle VerHey of VOLT
- Seven Ways to Maximize Your Relationship with Your Banker – Craig Larson of Starion Bank
- Succession Planning & Estate Planning: How They Work Together – Travis Benson of Thompson Law, P.C.
- Technology: Friend or Foe? – Adam Cooper and Stephanie VerHey of Marsh & McLennan Agency
- The Elephant in the Room: Addressing Uncomfortable Topics – Dr. Justin Anderson of JSA Advising
- What is an EAP and How Can It Help Your Employees? – Fred Rule of Avera
8am – Keynote: Jeffrey Hayzlett, The Hayzlett Group
Think Big, Act Bigger: The Rewards of Being Relentless
The most dangerous move in business is the failure to make a move. Jeffrey Hazylett, former CMO of Kodak and leader of the C-Suite Network, will headline day two. He operates his own family business, The Hayzlett Group, alongside his wife and two children. Jeffrey empowers business leaders to tie visions to actions, advancing you past competitors and closer to your business dreams. You will leave with ten core lessons that dare you to own who you are as a leader and a company, define where you want to go and fearlessly do what it takes to get there.
9am – Networking Break
9:30am – Breakout Sessions
Golden Handcuffs: Tools and Strategies for Rewarding and Retaining Key Employees
Blake Crow, CPA – Eide Bailly
This presentation will cover the basics of executive compensation plans. These plans can be used to supplement or enhance the income of business owners. Additionally, they can act as strong tools to encourage key employees of the business to remain with the business by placing “golden handcuffs” on them. This can be particularly beneficial when those key employees will play a significant role in ensuring the successful transition of a family business from one generation of owners to the next. Tools and strategies to be covered include:
- Compensatory Options to Buy Stock or Other Property
- Statutory Stock Options
- Incentive Stock Options
- Employee Stock Purchase Plans
- Nonstatutory Stock Options
- Statutory Stock Options
- Nonqualified Deferred Compensation Plans
- Excess Benefit Plans
- Supplemental Executive Retirement Plans
- Phantom Stock Plans
Building Value in your Everyday Business
Every business has a value – whether it meets your financial needs for transition has a lot to do with planning. Helping your business meet its profit capabilities will go a long ways to achieving your value goals. This presentation is designed to help family business owners focus on 8 key areas for building value that can be done rather inexpensively with inside talent.
10:30am – Networking Break
10:45am – Breakout Sessions
Integrating Your Head and Heart
A successful family business transfer requires navigating the delicate dance between the heart-felt truth of best family practices and the time-honored tactics that preserve family enterprises. This normal family and organizational challenge is often unfamiliar territory for even the most seasoned entrepreneurs and business leaders and it calls for an informed balance of emotionally intelligent leadership and execution on best business strategies. The reality is many need a guide in each of these respective areas who can help integrate the heart issues including: identity, control, purpose, and self-worth with the tactical issues of tax mitigation, financial planning, and risk management. Join a thirty year veteran executive coach and family business advisor, Jay Brenneman and a lawyer, former investment banker and wealth strategist Chris Rhyme to hear about their work with closely held businesses around the country to learn how you can create your own “transition without regrets.”
- How to avoid the emotional landmines in succession/exit planning
- How to multiply the economic efficiency of your transition
- How to integrate the numbers and people into a transition without regrets.
- Compensation plans
Small Group Discussions
Suggested audience: Family businesses with less than $10M revenue.
There will be four different interactive discussions. Choose one topic to participate in and halfway through, switch to a second topic. You will learn more about the presented topic and you will get to know fellow family business leaders through the interactive nature of the presentation.
Topics and Moderators:
- Succession Planning: It’s no accident that the first 7 letters spell “Success!” – Sandra McNeely, Abbey Legacy
- Employee Handbooks: Top Items to Include – Brian Kirby, Ballard Spahr LLP
- Compensation Strategies – Trish Dougherty, The Weston Group
- Do You Own Your Business or Does It Own You? – Carolyn Thompson, Thompson Law, P.C.
12pm – Lunch & Closing Keynote: Marty Palmer
Palmer Candy Company
Learn from a 139 year old how company on how to integrating family members, create a family business culture and sustain your legacy.