The Enduring Family Business: Sustaining the Value and the Legacy
Bryant University ~ Wednesday, December 12, 2018 – 7:30-9:30 AM
There is no more impactful way to sustain the value and legacy of a company than to position the right family members for leadership and ownership succession. Unfortunately, statistically speaking, only 1/3 of family businesses successfully continue even through a 2nd generation. For a multitude of reasons, sustaining value and continuing the legacy of the family business continues to be a challenge and arguably may get even tougher. In this panel discussion, you will hear from next generation family members about how they successfully grew the value and continued the legacy of their family’s business along with their insights and best practices to safeguard the business value, and prepare the next generation for a successful transition.
At The Business Value Forum on December 12th, moderator David Karofsky, will facilitate a conversation addressing how to sustain the value of a family enterprise – for the near and long terms.
Mr. David Karofsky
David Karofsky is a Senior Consultant with The Family Business Consulting Group, which has worked with thousands of family businesses over the past two decades, including some of the most successful and influential business families around the world, helping them to build the foundations for value creation and sustainability.
Prior to working with The Family Business Consulting Group, David and his father Paul had their own family business consulting practice.
David’s earliest career included work as vice president of marketing for a software start-up where he helped launch the company and raise the funding. Previously he served in various corporate roles for EMC Corporation. His interest in family business consulting was catalyzed at the Cambridge Center for Creative Enterprise where he worked with business leaders to hone their essential leadership skills. He is the recipient of numerous awards, and has been a guest speaker internationally. Among his other contributions to business, he is a continuing mentor to current and former MBA students at Northeastern University’s Graduate School of Business. He is the co-author of So You’re in the Family Business: A Guide to Sustainability.
Mr. Jacob Grossman, Co-President, Grossman Companies
Jake Grossman and his brother David represent the fifth generation of The Grossman family to work in the business that has evolved from the largest building supply company on the east coast, to a significant presence among New England real estate developers.
The Grossman family has deep New England roots. Family patriarch Louis Grossman immigrated from Podeski, Russia, to Massachusetts in 1890 and started a salvage business that later became Grossman Lumber, for many years the largest distributor of lumber and building materials in the Eastern United States. After selling the operating business in 1969, the family retained and has since redeveloped or sold the real estate. Today, Jake Grossman and his brother David (the family’s fifth generation in the business) are Co-Presidents. The family owns a roughly 2.5 million square foot portfolio spanning all major property types and makes private loans to builders, developers and real estate investors through their affiliate, First Boston Capital Partners. Prior to joining the family business, Jake was at BayNorth Capital, a real estate private equity firm in Boston. There, he handled acquisitions and asset management of various real estate asset classes across the country. Earlier in his career, he worked in Cushman & Wakefield’s Capital Markets Group. He is a cum laude graduate of Brown University.
Mr. Judd Rottenberg, Principal, Long’s Jewelers
As a Principal at Long’s Jewelers, Judd Rottenberg is the third generation jeweler. Long’s is a family-owned and operated full-service New England Jeweler with multiple stores, rooted in its 1878 founding by Massachusetts native Thomas Long. Over the past 140 years, Long’s has become a cornerstone of the region’s luxury jewelry and timepiece market.
Judd has been with Long’s Jewelers for nearly 20 years. After receiving his degree in Marketing and Retailing from Syracuse University, he continued his education, earning his graduate Gemologist degree from the Gemological Institute of America. Since the science of diamonds and gemology is ever changing, Judd continued his education by receiving a Certified Gemologist degree from the prestigious American Gem Society. He served on the board of directors of the American Gem Society in 2007.
Mr. Andrew Salmon, Director of Network Development, Salmon Health and Retirement
In 2006, Andrew Salmon joined Salmon Health and Retirement, a broad service multi facility senior living and health organization in 2006, coming from an administrator position for a healthcare corporation.
Formerly executive director for the organization’s Northbridge campus, his current position links Salmon to the business community. He manages a referral center, skilled nursing admissions and transfers and maintains relationships with discharge planners, case managers and other health organizations. Andrew has been trustee and board member of Milford Regional Medical Center and on the boards of Whitin Community Center and Mass. Assisted Living Federation of America. He is an original member of UniBank and Greater Worcester Community Foundation and chairs the development committee of Blackstone Valley Education Foundation. Andrew is one of three of the organization’s third generation serving in key leadership roles, all of whom came to SALMON only after starting their professional careers elsewhere. He is a graduate of Wheaton College.
Constant Contact: The Billion Dollar Idea Hatched in a Brookline Attic
Bryant University ~ Tuesday, September 25, 2018 – 7:30-9:30 AM
Constant Contact was founded in 1995 and was sold 20 years later for one billion dollars…
Co-Founder Alec Stern was one of three who were responsible for the company’s hyper growth, transition through its growth stages, and the development of its impressive value. His wide range of responsibilities at the company included senior roles in strategic partnerships, channels, business development and sales. Leveraging what he learned as a business owner and leader, Alec was additionally responsible for the creation of Constant Contact’s channel partner programs. He also spearheaded strategic innovation, community-based entrepreneurism and vertical industry thought leadership for the company.
Adding to his Constant Contact successes, Alec has since worked with thousands of new and growing small businesses. He has distilled his knowledge and experience into strategies that help businesses adjust their perspectives and adopt effective tactics to cultivate their value.
On September 25th, Alec Stern will bring his hands-on company growth expertise to the Business Value Forum. We look forward to his first hand insights, and his ownership, leadership and advisory experiences.
Women in Leadership…The real impact on business value creation!
Bryant University ~ Tuesday, May 8, 2018 – 7:30-9:30 AM
Thriving enterprises that are led by women successfully meet or eclipse the industry yardsticks for growth and profitability. While building value by deploying broadly proven business disciplines, their results are also achieved through unique cultures and styles of leadership.
Generally, women-led businesses operate within energetic, multi-tasking environments. While building value and sustaining profitability, they mirror their leaders’ tendencies toward passion and empathy. The business cultures that underpin these organizations are generally rooted in a harmonizing business with personal, career, and family responsibilities.
Please join The Business Value Forum on May 8th for a hot breakfast, and the conversation with seasoned experts who will share their personal experiences and insights into the real impact of women on business value creation.
Jill Beresford will moderate a highly interactive panel discussion of business leaders and professionals who will share their experiences in dealing with the contemporary questions reflected in our topic.
Jill became the CEO and Chairman of the Board of a publicly-held corporation during the 1990’s after she successfully turned the company around from bankruptcy. Only 3% of the world’s companies were led by a female CEO at that time and today that number is only 5%.
She is currently the CEO of Gendernomics, a company comprised of former CEO’s who have used the language and learning of Gendernomics to successfully build highly profitable companies and help turn-arounds that were in financial trouble return to profitability. Most recently, Jill has been bringing the message of improved economics through gender balance to the C-Suite of Fortune 500 companies.
Kathleen McQuiggan is widely regarded expert in the analysis and evaluation of business performance and value. Kathleen joined Artemis Financial Advisors in June, 2017. Her specialties are the financial planning needs of women and employing sustainable investing approaches. Prior to joining Artemis, Kathleen spent over 20 years in institutional sales and investing, first with Alex Brown in Baltimore and then with Goldman Sachs.
In 2009, she founded Catalina Leadership, a consulting firm focused on investing in women. Through that work she started an engagement with Pax World Management and developed an expertise in sustainable investing, later joining Pax as a Senior Vice President, Global Women Strategies. Here, Kathleen was responsible for product management of the Global Women’s Index Fund, and also ran the firm’s Women & Wealth initiative.
Kathleen holds a B.S. in business administration with a concentration in finance from Towson University. In 2015, Kathleen was named Investment News’ inaugural Women to Watch list, which honors female industry executives and financial advisors who are distinguished leaders at their firms. A longtime advocate for advancing women in leadership, she currently serves on the CFP© Board, Women’s Advisory Council and is an active member of SheGives, Ellevate Network, Plum Alley Investments and Dartmouth Natural Resource Trust.
Kathleen resides in Boston and Dartmouth, Massachusetts.
Kimberly Corwin has spent 30+ years developing and growing businesses. She began her career in Iowa at Composite Technologies Corporation, introducing a revolutionary insulated concrete sandwich wall panel system. She joined Hughes Supply in Florida in 2002 to help with the growth of the Miami market, leading the implementation of the first ever combined facilities location for Hughes Supply.
Corwin joined AH Harris in September of 2003; initially serving as a Business Development Manager focused on the integration of acquisition HarMac Rebar & Steel into the organization and establishing satellite rebar fabrication operations within the Harris footprint. She also promoted the growth of tilt-up construction along the Atlantic Seaboard. In 2009, after 6 successful years of growth across all business segments, she was promoted to the role of Vice-President of Sales & Marketing. During that time she implemented many new customer focused initiatives, vendor development programs and an internal education forum, many of which are still in place today. She also assisted in the implementation and adoption of a new commission program, strategic pricing initiatives and several private label products, including Harris 1500, a light weight forming system. Kimberly went on to serve as the President & Chief Executive Officer of AH Harris & Sons, Inc., an industry leading organization with over 53 locations from Bangor, ME to Charlotte, NC, from 2012 to May of 2017. Through her leadership the Company grew from $180 million to nearly $400 million with a double digit EBITDA. She lead the team to successfully complete and integrate a transformative acquisition in 2016; Kenseal Construction Products with Revenue of $140 million.
Additionally, Corwin has been active with the Tilt-Up Concrete Association (TCA) and is Past President on the TCA Board of Directors, as well as being the CRSI Pilgrim Chapter Past President. She has served on the National CRSI Government Affairs Committee promoting the use of reinforced concrete and was a member of the CRSI Board of Directors.
Corwin now serves as President and CEO of her own Company, New Chapter, LLC, purchasing distressed properties, renovating and re-selling. Her motto “It’s what you do next that matters most” drives her ambition.
Creating Value Through Differentiation: How to Stand Out from the Competition
Bryant University ~ Wednesday, February 7, 2018 – 7:30-9:30 AM
In industry after industry, firms find themselves competing head-to-head with rivals offering similar products and services. Customers have a hard time distinguishing among the competitors. In fact, firms often find themselves constantly benchmarking and copying one another. As a result, firms imitate one another continuously, and strategies converge over time. How can companies truly differentiate themselves in the marketplace? What does it take to stand out from the crowd and create a distinct competitive positioning? In this presentation, Professor Michael Roberto will address these important competitive questions.
Our featured Speaker is Dr. Michael A. Roberto. Professor Roberto is the Trustee Professor of Management and Director of the Center for Program Innovation at Bryant University in Smithfield, RI. He joined the tenured faculty at Bryant after serving for six years on the faculty at Harvard Business School.
Building Value in Your Business While Running It
Bryant University ~ Thursday, October 19, 2017 – 7:30-9:30 AM
Company owners, executives and advisers are generally focused on business operations and performance. Most delay attention to their enterprise value for another day. Yet a company’s value is significantly influenced by a business’s operation and performance, and an understanding of the components of value. It’s value that is of prime importance to lenders, vendors, potential partners, suitors and some customers – all of who play a pivotal role in a company’s future.
Building Value in Your Business While Running It brings together experienced practitioners and business people who’ve had hands-on experience in building business value. They’ll share their knowledge, and their insights into how an understanding of a company’s value helps to drive the right decisions to build real value for the long term.