Passing Leadership Role To Next Generation Is Tricky If Path Not Carefully Planned

After years of hard work, you've built the family business into a great success and you take pride in meeting the challenges that each day brings.

At some point, though, the day arrives when it's time to turn the reins over to the next generation.

That can be an exciting moment or an anxiety-ridden one, depending on what has gone on before to prepare for the momentous occasion.

"Laying the path to a successful family-business transition requires a bit of threading the needle," says Henry Hutcheson, author of the book "Dirty Little Secrets of Family Business" (http://dirtylittlesecretsoffamilybusiness.com).

"On the one hand you don't want to paint an overly rosy picture to the next generation. That could create a sense of entitlement and the false perception that running a business is easy and all you need to do is count the money and show up every now and then to check on things."

At the same time, he says, if you put too much emphasis on the difficulties of running a business and the stresses that come with it, your sons and daughters might not clamor to be first in line to take over.

Ideally, it's best to think ahead and start grooming the next generation long in advance, Hutcheson says. Give them summer jobs while they are in high school and college so they can start testing their abilities.

When they join the family business full time, find initiatives for them to work on that involve group dynamics. But also hand them individual projects where they hold sole responsibility for the results.

"It's critical when you are selecting the next leader to realize that it's not all about who will lead," Hutcheson says. "It is also about ensuring that those who are not selected are in support of the decision and can work as a team with the new leader."

Hutcheson says there are four key ingredients to developing the right person to take over the family business.

•  Independence. Next generation leaders must have confidence in themselves, their thoughts and their beliefs. "Much of this can be developed while working in the family business by constructing and leading significant projects," Hutcheson says. But one shortcut to accomplish this is to work for some other company early on. Many multi-generation family businesses like to make that a requirement for family members.

•  Competence. This is more than just being able to do the work. It means developing bottom-up experience. Not just being the accountant, but being able to reconcile the accounts and perform the journal entries. Not just being sales and marketing manager, but having been on a quota and worked the trade shows. Experience doing some of the day-to-day grunt work can pay dividends down the line.

•  People skills. "It's not enough to just be smart and confident," Hutcheson says. "You need to be able to work with people." He notes that in the book "Emotional Intelligence," Daniel Coleman outlines two studies that measured the success of a batch of high school valedictorians and Harvard graduates. Those who were able to perceive the emotional state of others and react to it appropriately proved to be the most successful.

•  No special privileges. The person in line to take over the family business needs to be willing to show up to work on time, stay late, take on special projects and be measured by the same metrics as everyone else. "This will show that you are part of the team and that you want to be judged on the merits of your work, not your bloodline," Hutcheson says. It will also help the next generation gain the respect of co-workers.

About Henry Hutcheson

Henry Hutcheson is president of Family Business USA and specializes in helping family and privately held businesses successfully manage transition, maintain harmony, and improve operations. His newest book is "Dirty Little Secrets of Family Business: How to Successfully Navigate Family Business Conflict and Transition" (http://dirtylittlesecretsoffamilybusiness.com). He's also quoted in "Kids, Wealth, and Consequences" and "Sink or Swim: How Lessons from the Titanic Can Save Your Family Business." Hutcheson grew up working for his family's business, Olan Mills Portrait Studios. He studied psychology and has an MBA from Columbia Business School, and is a popular speaker at professional, university and corporate-sponsored events.

$33,000 in Scholarship Money Given at Premier Night at the Iowa Illinois Regional Auto Show.

(Davenport) The Community Foundation of the Great River Bend is pleased to announce the 2015 recipients of the Iowa/Illinois Regional Auto Show.

Alexis Pairrett: Davenport North High School, Recommended by Lujacks Mercedes. Alexis was awarded $2,000
Molly Rogers: United Township High School, Recommended by Zimmerman Honda. Molly was awarded $4,000
Tyler Williams: Geneseo High School, Recommended by Piehl Motors of Geneseo. Tyler was awarded $1,000
Rachel Lindsly: Central Community High School DeWitt, Recommended by D&D Fiat. Rachel was awarded $3,000
Maria Nation: Mercer County High School, Recommended by Ericksen Chevrolet Buick. Maria was awarded $3,000
Dylan Deerberg: North Cedar High School, Recommended by Stueland Auto Center. Dylan was awared $3,000
Kailey Potter: Calamus Wheatland High School, Recommended by Stueland Auto Center. Kailey was awarded $3,000
Brooke Thompson: Moline Senior High School, Recommended by Dahl Ford Davenport Inc. Brooke was awared $3,000
Lucas Thul: Central Community High School - Dewitt, Recommended by Kriegers.
Lucas was awarded $1,000
Abby Fuegen: Easton Valley High School, Recommended by Rotman Motor Company. Abby was awarded $3,000
Brooke Hicks: Wethersfield High School, Recommended by Gustafson Ford. Brooke was awarded $1,000
Blake Roselieb: Annawan High School, Recommended by Piehl Buick GMC Cadillac. Blake was awarded $1,000
Bruce Patrick: Davenport Central High School, Recommended by Green Buick GMC. Bruce was awarded $1,000
Matthew Gray: United Township High School, Matthew was awarded a tech school Scholarship $4,000

The Auto Show has given to date over $313,000 in scholarships to 91 area students. Proceeds from the Auto Show support the Scholarship Fund. A special presentation of $8,000 was made by the Quad City Times to be deposited to the scholarship fund from sales efforts of the Auto Show Special Supplement. Sponsors of the Premier include : ALLY, RILCO Lubricants & Services, CDK Global, IH Mississippi Valley Credit Union, S & S Automotive, The Greater Quad City Auto Auction, State Farm Insurance and

The Eastside Bakery on the corner of 15th and Harrison Street in Davenport is holding an anniversary celebration on Sunday, Feb. 22   It's free, of course, and will  last  from 1:00 pm to 4:00 pm.

This event is in celebration of its  first anniversary  on The Hilltop!  It's also an opportunity to preview potential  new menu items and enjoy old favorites!

Spread the word and plan to attend!

Washington, D.C. - Congressman Dave Loebsack will have a member of his staff in Clinton and Scott Counties for open office hours. Henry Marquard, Loebsack's District Representative, will be at the following locations. Marquard will be on hand to work with individuals who are having difficulty with a government agency, have suggestions for Dave, or would just like to share their concerns. Members of the public are invited to attend. Marquard holds regular office hours throughout Eastern Iowa.

If residents are unable to attend but have a concern to share with the Congressman, please call our district office toll-free at 1-866-914-IOWA (4692).

Marquard's schedule is as follows.

 

Tuesday, Feb. 10

 

Camanche City Hall

917 Third Street

9:00 - 10:00 AM

 

Clinton City Hall

611 South Third Street, 1st Floor

11:00 AM - NOON

 

Bettendorf City Hall

1609 State St.

2:00 - 3:00

 

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In preparation for the rapidly-approaching end of open enrollment in the Illinois Health Marketplace on February 15th, The Project of the Quad Cities/Get Covered Illinois will be initiating 24-hour consumer access and hosting several special enrollment events.

This Saturday, February 7th, counselors will be enrolling consumers at the following two locations and times:
-Ybarra Gomez VFW Post 8890 (12-3pm; 1810 1st Street, East Moline)
-Blackhawk Township Office (12-3pm; 230 4th Street, Milan)

Beginning at midnight on February 7th and continuing until midnight on February 15th, licensed counselors will be available around the clock by telephone to assist any Rock Island County residents who have not obtained qualified health coverage or who have questions about any part of the Affordable Care Act. Anyone seeking information about enrollment deadlines, insurance plans, Medicaid eligibility, or tax penalties can get immediate assistance by calling (309)269-9306.

Residents who still lack health coverage are urged to contact TPQC at their earliest opportunity to sign up for a marketplace plan or if eligible, apply for Medicaid. The penalty for lacking qualified health coverage in 2015 increases to $325 per uninsured adult, up to a maximum of $975 per household!!!

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A Few Precautions Help Reduce Risks So You Can Focus On Fun, Globetrotting Author Says

Perhaps more than ever, women are willing to ditch their traveling companions and go solo when it comes time to hit the road and see the world.

A survey by Small Luxury Hotels of the World, for example, revealed that between 2011 and 2012 there was a 53 percent increase in the demand for rooms by women traveling alone.

The London Daily Mail also reports that some hotels have taken steps to make their accommodations more appealing to women traveling on their own, with such features as women-only floors.

Still, despite the trend, many women may worry that such solitary excursions carry too many risks, making them a target for thieves, kidnappers and other criminals.

But one woman who has logged endless miles exploring the world and finding romance says it doesn't have to be that way.

"There is no reason to let your fears keep you from the adventures you can experience," says Barbara Foster, a veteran globetrotter and author of the book "The Confessions of a Librarian: A Memoir of Loves." (www.threelovestory.com)

"Sure, there are risky places and bad types out there. But with the right precautions, women can travel solo with confidence, visiting the places and meeting the people they always dreamed of and returning home with wonderful stories and memories."

Foster speaks from experience. Her travels have taken her across the country and around the world, with stops in Istanbul, Bombay, Buenos Aires, Jerusalem and other locales.

As an adventurer, Foster is something of a contradiction. She describes herself as a librarian who has difficulty reading flight schedules, and suspects a haggling merchant in an Arab bazaar would view her as easy pickings.

He would be mistaken.

While Foster has spent a professional lifetime in academia, and co-authored books on such esoteric subjects as Tibetan Buddhism, she also is steeped in real-life experience.

Foster, who says solo trips can be deeply rewarding for women, offers five tips for traveling boldly while staying safe.

•  Steer clear of the most dangerous locales. Simply put, some places just aren't worth the risk, so avoid "no go" neighborhoods, cities and countries. For example, if you feel compelled to go to the Middle East, visit Israel, which is the safest Middle Eastern country. Still, if the destination is truly important to you, go ahead and take the risk. India can be dangerous and Foster says she was nearly kidnapped there, saved only by the intervention of a librarian friend. At the same time, she says, the country offers a once in a lifetime experience.

•  Connect with friendly contacts. Make yourself known not only to the U.S. embassy or consul, but also to people in your field, Foster says. During her travels, Foster wrote articles about libraries she visited. Her fellow librarians were a protective group.

•  Learn the language or at least useful phrases. Even if it's just a few key words, speaking the language can come in handy if you need to seek assistance. Understanding what others are saying also can alert you to potential dangers.

•  Dress wisely, pay attention to manners and spend money in moderation. Essentially, don't draw unnecessary attention to yourself. In her book, Foster recounts a visit to Istanbul where she watched horror-struck as two Turkish men slapped a young British woman for wearing a miniskirt on the street. For added protection against thieves, Foster recommends carrying money and identification in a pouch under your shirt.

•  Travel in the USA. You will miss many of the world's must-see places, but if the thought of traveling abroad holds too much stress for you, it might be better to stick closer to home. Foster says two of her favorite U.S. cities are New York and New Orleans, both great places to explore.

About Barbara Foster

Barbara Foster has worked as a college librarian and as an associate professor specializing in Women's Studies at the City University of New York. She has published numerous articles on education and travel, as well as more than 200 poems in literary journals under the name Belladonna. Her latest book is "The Confessions of a Librarian: A Memoir of Loves." (www.threelovestory.com)

SPRINGFIELD, IL (02/05/2015)(readMedia)-- Story by Staff Sgt. Robert R. Adams, Illinois National Guard Public Affairs Office

Thirteen Army National Guard Soldiers received certificates of completion for their success during the Illinois Army National Guard's 129th Regional Training Institute Signal Support System Specialist (25U) Reclassification Course Feb. 4 at a ceremony held at the Illinois Military Academy at Camp Lincoln, Springfield, Illinois. Three of the 13 graduates were from the Illinois Army National Guard.

Three of the four spots for honor graduates were Illinois Guardsmen. These Soldiers were Sgt. First Class Anthony Flam of Chicago with the Headquarters and Headquarters Service Battery, 2nd Battalion, 122nd Field Artillery Regiment in Chicago; Sgt. First Class Shawn Cannamore of Metropolis, Illinois with the Headquarters and Headquarters Company 2nd Battalion, 130th Infantry Regiment in Marion, Illinois; and Spc. Richard Crosby Sanders of Collinsville with the Charlie Company, 2nd Battalion, 130th Infantry Regiment in Litchfield, Illinois.

The Soldiers learned information technology vital skills during the two-phase course held over a four-week period, such as installing and troubleshooting communication systems.

Signal Support Systems Specialists are primarily responsible for working with battlefield signal support systems and terminal devices.

Churches United of the Quad City Area has received a $500.00 grant from The Wells Fargo Foundation. This award supports the direct services that Churches United provides in the Quad City Area.

Churches United operates 26 food pantries and 3 hot meal sites in the Quad Cities, and Winnie's Place, a shelter serving women (and their children) who are homeless and/or victims of domestic violence. The success of these services is due, in large part, to the generosity of organizations such as The Wells Fargo Foundation.

Churches United has a 54-year history of reaching out to our community. Its 134 member churches represent 50,000 people from the Quad City Area. For information about services offered, or ways to support Churches United, call 563-332-5002, or visit our website at www.CUQCA.org.

 

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With another baseball spring training just a few short weeks away, Rascal the River Bandit, the friendliest raccoon in baseball, is warming up for his annual set of Valentine deliveries to spread joy around the Quad Cities. For the sixth year in a row, the River Bandits mascot will once again deliver Valentines for the first 25 people to order one of Rascal's Sweetheart Special packages that celebrate Valentine's Day the River Bandits way. More »

KENOSHA, WI (02/05/2015)(readMedia)-- Tanner Wood of Rock Island, IL participated in a J-Term study tour to Africa with Carthage College.

Students on the "Economics and Business in Southern Africa" study tour explored a stunning variety of spectacular natural environments, exotic wildlife, historic townships, uniquely sophisticated cities, world-renowned cuisine, and very lively and diverse cultures. On the tour, students visited South Africa, Botswana, and Kingdom of Lesotho and met with famous economists, businessmen, writers, and artists.

J-Term is a special month-long period of study in which Carthage students explore subjects outside their majors or minors, discover new interests, and test their creativity through classes held both on campus and around the world. It's a month to experiment, create and dream. Carthage is ranked No. 7 in the nation among baccalaureate institutions for student participation in short-term study abroad.

Carthage College combines an environment of reflection and self-discovery with a culture of high expectation so our students uncover and ignite their true potential. A four-year, private liberal arts college with roots in the Lutheran tradition, the campus has a prime location in Kenosha, Wisconsin. The campus, an 80-acre arboretum on the shore of Lake Michigan, is home to 150 scholars, 2,500 full-time students, and 400 part-time students.

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