Family Business Newsletter

a publication of the                                               Delaware Valley Family Business Center

                       April 2010
Family Business Learning Community 
Upcoming Forums
Building CFO Value in Your Family Firm
Michael Fecik   
B.R. Kreider & Son
Michael Fecik
Due to overwhelming response, Thursday's Mini-Forum is full and registrations have been closed. Call to be placed on a waiting list; we may re-run the program!
What are the best practices of CFO's in a family firm? How do they develop a strategic approach to decision making ... expand their teamwork abilities ... navigate the sometimes treacherous waters between the liquidity objectives of shareholders (both active and inactive) and the growth objectives of the business? 
Join us for our May 20 Forum: 
Leading From the Heart: In Your Business & Your Family 
John Fast, Ph.D.
John Fast Book Cover
What differentiates great family business leaders? Why are some business families able to be both financially successful and relationally unified? What distinguishes powerful family firms from those that are constantly struggling to balance their family and business priorities? How do we raise responsible children of wealth?

Dr. Fast will draw upon two decades of Family Business consulting and research to share Family Business Leadership best practices. Often humorous, sometimes poignant, but always insightful, John will teach inter-generational leaders of family firms how to Define, Balance, Develop and Manage the competitive advantage of the 'Heart - Work'.
Includes Two Spotlights on Business Strategy:
"The 5 Iron Laws of Business Strategy" with Mario Vicari, Director, Kreischer Miller, Horsham.
"Leveraging Social Media in YOUR Family Business"
With Mark Lacher, Lacher & Associates, Souderton, and Greg Ash, Able Design, Inc., Philadelphia.
CalendarUpcoming Learning Community Forums:  
Click here for our 2010 Learning Community Calendar! 
June 8, 2010 Mini-Forum: 
Financial Literacy for Business Families 
July 15, 2010 Mini-Forum:
September 23, 2010 Forum:
October 8, 2010 Mini-Forum: 
Contact Sabrina to register for any of these events!
Family Business Learning Community:
Past Forum Highlights
CalendarHighlights from our March 24 Forum  
104 Forum GroupAbout 100 members and guests enjoyed a morning of learning from the Sullivan Family, Dunmore Corporation, who shared about their experience as a large family in partnership with a non-family member and their growing international enterprise. G2 sibling partners Mark and Chad Lacher, Lacher & Associates, Inc., shared how they refreshed their business strategy after their transition.
Sullivan Family Panel
104 Panel
Learning Community member Marlin Horst, Premier Custom-Built, Inc.,  shared the following after the morning:
"Family businesses can not succeed and thrive into the next generation without good planning and synergy, so I want to re-dedicate myself to make it a priority to participate in as many Forums as possible."
Celebrating Learning Community Progress
Member Progress
LTI logoLaboratory Testing Inc. (LTI), Hatfield, PA, Learning Community Member since 1996, was recognized as one of the best places to work in the state of PA for 2009.
Leadership Lab - Wecome New Members!
Megan Reilly
Megan Reilly
Sheldon Horst
Sheldon Horst
Welcome to Megan Reilly, G2 (Generation 2), Print Mail Systems, Newtown, and Sheldon Horst, G2,  Premier Custom-Built, Inc., New Holland, who recently joined Leadership Lab 3.
Please contact Sally if you would like to learn more about how a Leadership Lab could fast track your development as a family business leader.
Family Business Resources
Compensation Resource
Karl Buehler
Karl Buehler
Compensation is a touchy subject and a key issue for almost all family firms.  In a family-owned business, the emotions are amplified, and the stakes are high ... with crucial questions:
How can we establish an internally equitable, externally competitive compensation plan? 

What kinds of incentives are available to attract top talent without giving away the family legacy?

Karl Buehler, compensation consultant, may be your solution. Karl has over 30 years of corporate and consulting experience in all areas of compensation.

How have other family firms benefited from Karl's assistance? 
We have received excellent value from Karl for a Compensation System.  Prior to working with him, we had no system in place to help us build a compensation strategy.  We paid people based on what we thought were market benchmarks and merit.  Karl gave us a good outline of what he would provide; he helped walk us through the process, and the system works well.  I have several friends who have used Karl for their family businesses, and ALL have been very pleased with what they have received.
David J. Thompson, President, Laminators, Inc.
Words of Wisdom About Health Care Reform
Members have been asking... What do the changes in the health care industry really mean?
Please visit this resource from Lacher & Associates for more information.
News from the Family Business Center
Learning Community Director - Sally Derstine
 Sally Derstine 2010 
"Live" & Virtual Learning Opportunities

They call it the Information Overload Age. Information is becoming so abundant that attention has become the greatest commodity.  Some say we've already entered the Attention Age.

How can we focus and maximize our attention so we can move forward with confidence and clarity to implement what needs to be done?  Over the past 20 years, members and clients have shared their appreciation for the face-to-face learning opportunities which feature real families sharing real experiences and best practices ... where personal interaction between members and advisors provides additional perspectives and integration.

Whether it be a Forum, a Mini-Forum, a Leadership Lab, or a consultation meeting, these "live" opportunities are fertile ground for leaders and advisors to learn and fully interact with all of our senses ... to attend to and balance both the short- and long-term goals of the family and the business.

For added support and convenience, we have launched a virtual Family Business Learning Community through LinkedIn. Click on the icon to join us in sharing articles, experiences, and ongoing dialogue! 
View our profile on LinkedIn 

I hope to see you at the May 20 Forum!
Welcome to Sabrina Swartzentruber!
Sabrina Wedding
We are pleased to welcome Sabrina Swartzentruber to the staff at DVFBC. We also congratulate Sabrina on her marriage to Nate in March!
Visit Sabrina's LinkedIn profile to learn more about her.
In This Issue
Family Business Learning Community
Celebrating Learning Community Progress!
Family Business Resources
News from the Family Business Center
Recommended Reading
Recommended Reading

Kids, Wealth and Consequences
by Richard A. Morris & Jayne A. Pearl
Learn more about how to ensure a responsible financial future for the next generation!
Founded in 1988, the Delaware Valley Family Business Center is a family business advisory firm which prepares business families for generations of success.  As the premier Family Business Center in the Philadelphia area, we have served over 600 business families.  Our intergenerational team-building process, "The Lasting Legacy Process™" provides the direction, confidence and tools to grow robust enterprises, develop competent leaders and strengthen family relationships.

For more information on preparing for generations of success or to register for an upcoming event, please contact Sally Derstine at (215) 723-8413 or click here to email.