In This Issue
A Letter From Our President
Reflecting on the dynamic first quarter at the Goering Center for Family and Private Business, it's clear that the business landscape continues to evolve. From honing negotiating skills and exploring AI in marketing to safeguarding identities and refining sales strategies, our journey through these topics has been transformative.
In a world of constant change and uncertainty, our commitment to innovation and community remains vital. Embracing the power of our diverse network—comprising Core Members, Associate Members, Corporate Partners, subject matter experts, and volunteers—has provided invaluable insights and support. Together, we navigate complexities to adapt and thrive in today's business environment.
We are excited to announce an opportunity to celebrate the 25th Annual Family and Private Business Awards on September 10th. The theme this year is “Taking Care of Business”. This event represents not only a recognition of outstanding achievements but is also a testament to the resilience and ingenuity that define our community of family and private businesses. Read Carol's entire letter here
From Our Thought Leaders
Why Retirement Planning Deserves More Attention
With curious questions exploring "where do I want to live, how do I want to live, and what am I going to do in retirement?" Paul Carl dives into the underappreciated topic of retirement planning. With no two situations being the same, exploring how one can begin while building a strategy that will pay dividends in the long run is essential to finance freedom. Read full article
Solving the 2024 People Puzzle
In 2024, SMBs face challenges in managing employees and company culture. Recruiting and retaining talent, defining roles, and leadership development are key issues. Jessica is eager to explain how prioritizing these strategies can foster a motivated workforce and drive business growth by year-end. Read full article
FTC Final Rule Banning Non-Compete Agreements Appears Far from Final
As the FTC rallies to rule against previously instated non-compete agreements, Frost Brown Todd is ready to assist you and your team in finding solutions that allow the company to protect its intellectual property and trade secrets. There has never been a better time to reopen and reassess your strategy. Read full article
Calling All Local Family and Private Business
We are "Goering" up for our 25th Annual Family and Private Business Awards on September 10th at The Hard Rock Casino. We need you to nominate an exemplary business or rising leader today!
Nominate A Family or Private Business
The annual Family and Private Business awards recognize and celebrate local businesses who demonstrate exceptional achievements of our 10 Best Practices of Family and Private Businesses. Celebrate extraordinary businesses, volunteers and rising leaders. Nominate any family or private Cincinnati-NKY region business. Awards provide businesses with opportunities to showcase their successes and the impact they are making in our community.
Rising Leader Finalists
Congratulations to both Andy and Dan as they help us drive a vibrant economy! Know someone who exemplifies our 10 Best Practices and deserves some extra recognition? Nominate a fantastic Rising Leader below.
Nominate Your Rising Leader
From October 2023 to June 2024, nine Rising Leader Finalists will be selected from a pool of nominees by an independent panel of judges. All nominees are on a leadership or succession track of a family or private business, and have successfully advanced one or more of the 10 Best Practices of Family and Private Businesses. Nominate a Rising Leader today!
Goering Center Programming Highlights
Exploring Business Transition Options? Consider ESOPs and Co-ops
Join us for an insightful luncheon where we delve into the world of business transition strategies, focusing on Employee Stock Ownership Plans (ESOPs) and Worker Owned Cooperatives. Whether you're planning for the future or exploring current options, this event will equip you with the knowledge and tools to make informed decisions.
What You'll Learn
- Optimal Business Growth: Discover how to strategically grow your business to maximize options when it's time to consider selling.
- Employee Buyouts: Explore the unique advantages of selling your business to your employees and understand the tangible benefits of this approach.
- ESOPs vs. Worker Owned Co-ops: Gain clarity on the differences between ESOPs and Worker Owned Cooperatives, and learn which option aligns best with your business goals.
- Dispelling Myths: Address common misconceptions about selling to employees and uncover the realities of this transition strategy.
- Process and Steps: Get a step-by-step outline of the process involved in transitioning to either an ESOP or a Worker Owned Cooperative.
Knowledge. Community. Connection.
The Goering Center for Family and Private Business has a few open spots on our exclusive HR Professionals Roundtable and is currently accepting applications from interested individuals. Connect with a group of your professional peers and gain access to your own personal board of advisors. Benefit from professionally moderated sessions designed to tackle your most pressing challenges and share innovative solutions. You will enjoy a collaborative environment where you can network, enhance your leadership skills, and gain fresh perspectives on HR trends and best practices. Don’t miss this opportunity to elevate your expertise and make valuable industry connections. For next steps and to learn more, contact Pam Goetting at GoettiPa@ucmail.uc.edu or (513) 556-7403.
Upcoming Events
June 6th - Luncheon: Business Transition Options: ESOPs & Worker-Owned Cooperatives - 11:30 a.m. - 1:30 p.m. - In-person
Join us for an insightful luncheon where we delve into the world of business transition strategies, focusing on Employee Stock Ownership Plans (ESOPs) and Worker Owned Cooperatives. Whether you're planning for the future or exploring current options, this event will equip you with the knowledge and tools to make informed decisions.
July 10th - Complimentary Overview: Roundtables - 8:00 a.m. - 11:30 a.m. - In-person
The Complimentary Overview is an opportunity for participants to experience a "trial" Roundtable meeting to see if joining a Roundtable is right for them. Our Roundtables provide an opportunity for collaborative peer sharing about strategic and tactical business issues, within the larger context of your personal and family concerns. Consider this your very own board of advisors, whose number-one goal is to help you restore balance.
July 17th - Complimentary Overview: Pricing Power - 9:30 a.m. - 10:30 a.m. - Virtual
The Complimentary Overview is an opportunity to understand how Pricing Power can help deliver high-impact results for your business. Learn how to grow your confidence to overcome price objections, become adept at rolling out price increases to customers, and expert at selling the true value of your services or products. This five-part series will arm you with the methods, messaging, tools, and confidence to negotiate from a position of power and strength.
July 24th - Complimentary Overview: Business Board Institute & Blueprint - 7:30 a.m. - 9:30 a.m. - In-person
Advisory boards are game changers for family and private businesses, providing guidance on matters of strategic importance. However, not all businesses have a clear vision for success, strategies to get there, or defined metrics that help them keep score and measure performance. A board of advisors can help with that to ensure accuracy. But, equip that board with a BLUEPRINT, and you have a head start on high-impact results.
August 1st - Complimentary Overview: Principles Course - 7:30 a.m. - 9:30 a.m. - In-person
Learn how to make the most of your Goering Center membership and be sure to bring along key employees and/or any family members working in the business. This 90-minute program is more than an orientation to the Center and its core offerings, it is your opportunity to meet other new members, build your network, and become part of our business community.
August 6th - Pricing Power - 9:00 a.m. - 10:30 a.m. - Virtual
Most pricing decisions are made from fear, not from confidence. Most sellers don’t price to win business; they price not to lose. Join us this August for a five-part Pricing Power Series that will arm you with the methods, messaging, tools, and confidence to negotiate from a position of power and strength. This program, heavily focused on application and practice for maximum impact, will help you gain confidence overcoming price objections, become adept at rolling out price increases to customers, and become experts at selling the true value of your services or products.
Do You Have A Recommendation For A Great Topic, Speaker, Or Presentation? Tell Us About It!
New Hire Alert
Welcome To Our Community
Allie's Walkabout, Mary Clegg, Owner - Core Member
Kokomo Grain Co. Inc, Timm Ortman, Director - Core Member
Sterling Nursing Service, LLC, Ken Phelan, President/Owner - Core Member
Tri State Plastics, Lisa Schneider, CEO - Core Member
Interested in joining the Goering Center? Learn more about our community, networking and educational offerings on our webpage, or reach out to David Miller at mille5dd@ucmail.uc.edu for more information!