Meeting/Event Information

Small/Family Business Planning & Equity Structure

December 12, 2017
7:30 AM to 11:00 AM
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Midland Hills Country Club

2001 Fulham Street
Roseville, MN 55113
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Join us...

When:      
Tuesday, December 12, 2017

Time:

  7:30 –   8:00 am     Check-in / Buffet Breakfast / Networking              
  8:00 – 11:00 am      Program  

Where:

Midland Hills Country Club
2001 Fulham Street, Roseville

Cost:

$35:   MSA Member 
$75:   Non-Members  

 
CLICK HERE for a flyer to share


Overview
 

In a family business, success beyond the first generation is sometimes difficult to achieve. The typical family business owner will spend years building the business while sometimes overlooking the critical importance of a business transition plan. Purposeful succession planning is one way to help ensure that your business will survive into a second – or even a third or beyond – generation. Whether you plan to transition your business to a child or family member, a trusted employee or even sell your business, having a plan to transition your business is critical. Without a plan, business owners leave the future to chance. We will examine the traps that can derail a family business, the differences in viewpoints between family members, the importance of business governance structures and resources for families and business owners planning a transition. This session is intended for anyone involved in the family business transition. 

Learning Objectives:  

*  Highlights and lowlights of owning a family business 

a)  Importance of family business in the US economy
b)  Socio-emotional factors at play
c)  What can go wrong as families transition between generations 

*  Best practices that have been proven to be helpful to owners of family businesses

a)  Responsible stewardship
b)  Family governance
c)  Highlights regarding financial structures for transferring assets 

Table Exercise:   Discuss a scenario focused on a family business succession. 

*  Points to keep in mind as you work through succession 

a)  Power of the personal connection. 
b)  Engage all family members in the conversation.
c)  The process of communication within the family is more important than the   
     decision that is ultimately made.

d)  Open up the floor for Questions

 

Speaker

Mary Daugherty
University of St. Thomas

Mary Schmid Daugherty is a financial educator, consultant and corporate director. Over her teaching career she has taught in the undergraduate, graduate and executive MBA program. Mary is the founding faculty member of the Aristotle Fund, a $6 million student managed investment fund at the University of St. Thomas, which she developed and has lead since 1999. In addition to teaching, Mary does research and consults on corporate organizational structure and its impact on valuation. She serves on the Board of Directors for Crescent Electric Supply Company, Mairs & Power Funds, Inc., Driessen Water, Inc. and The Meritex Company. Mary chairs the Governance Committee and is a member of the Compensation Committee for the Crescent Electric Board. She chairs the Audit Committee and is a member of the Governance and Nominating committees for Mairs & Power, Inc. As the Audit Chairperson for Mairs & Power, Inc. Mary is recognized as a Financial Expert as required by the SEC. Mary chairs the Audit Committee for The Meritex Company. 

Mary has been working with private and/or family businesses in a variety of in- depth financial and corporate governance consulting assignments since 1993. Her experience with Boards and C-suite Management include working with transitioning the corporate structure from advisory boards to fiduciary boards, facilitating and developing optimal governance policies and practices, designing and teaching corporate governance educational programs, designing the processes and conducting Board and Committee evaluations, and advising on other corporate governance issues unique to the client. She has provided consulting services in different industries, serving both small and large companies. Mary has published in the area of family/private corporate governance co-authoring Family Business, 5th Edition, which is the most widely used textbook on family business in university family business programs. She is an active academic researcher in organizational structure and investment management, and has authored research papers in these areas. 

Complementing her interest in adding value in her engagements with clients and board work, Mary has been very successful with her academic career. She was awarded the Executive MBA Teacher of the Year for both 2015 and 2014, the "Julie Hays Distinguished Teaching" award in 2011, and the Innovation in Teaching Award from the Opus College of Business in 2003. She also has both a board room and an endowed scholarship named in her honor by a significant gift from an alumnus. In addition, Mary has international teaching experience having taught Corporate Finance in the United Kingdom and topics of interest to family businesses in Chile. Mary received her Bachelor of Arts from the College of St. Thomas and went on to earn her MBA in Finance at the University of Minnesota. Upon graduation in 1982, she worked as an investment analyst co-managing the Common Fund for First Trust, Inc. While working at First Trust, Mary earned her CFA. In 1987, Mary began working as an Instructor at the College of St. Thomas while also working on her PhD at the University of Minnesota. In 1993 Mary earned her Ph.D. with a dissertation focused on endowment management at private colleges.

 

 

 

Tickets

$35.00 MSA Member(s)

$75.00 Non-Member(s)

Documents

Flyer.171212