Frontier Dental Family Dentistry
Welcome Frontier Dental Family Dentistry
WELCOME NEW MEMBERS
Welcome to our newest members
Frontier Dental Family Dentistry and Prosthodontics
5155 Buehlers Dr. Suite 107
Medina, OH, 44256
(330) 952-2015
frontierdentalohio.com
Exit Stage Right
What to think about when you're ready to leave your business.
Exit stage right - What to think about when you're ready to leave your business
A succession plan may help assure business continuity
If you’ve built a successful business, you know that having a plan could be critical to making it work. By the same token, readying your business for your retirement, or to enable it to carry on if anything happens to you, is an important piece of the puzzle.
While there are no set rules about what to address in a succession plan, you may want to include such details as:
· The successor: family member, business partner or someone new who will buy out your share
· Timeframe/transition period
· Key personnel changes and skill retention
· Training and development of new leadership
· Legal considerations: buy-sell agreement, estate plan/will
· Risk management
· Communication strategy
· Financial considerations: retirement income, insurance, sale price, tax implications
Protecting your most valuable asset: You
Your exit strategy not only recognizes when you are planning to retire from the business, but it can also address any potential surprises that may impact your ability to remain in charge.
You may develop a major illness or injury that takes you away from day-to-day operations. Having insurance in place can help ensure your company will continue to function in your absence, while also help to protect your own earnings and family, particularly if you’re not able to return:
Disability Insurance: All owners should consider having their own insurance that covers their monthly earnings in the case of an illness or injury that requires long- term healing. It may include a buy-out clause.
Business Overhead Expense Insurance: This helps to provide funding to the business of any overhead expenses (such as payroll or rent) if payment of these costs may be jeopardized by being away for an extended period.
Critical Illness Insurance: This is generally a lump sum payment that helps you cover your bills if you have a serious illness.
Key Person Life Insurance: A life insurance strategy may include a payout to the business for continuity, or to your estate to help minimize any tax implications. Life insurance proceeds may also be used to equalize payments to heirs, as it’s possible that, if you have multiple children, only one will be interested in taking over the business.
If you plan to retire, you need a plan
If it’s time for you to hand over the reins, your succession plan should address the time horizon for your transition and how much involvement you will maintain. You may want to execute a buy-sell agreement with partners or co-owners. It outlines the circumstances of your leaving, as well as the price that will be paid for your share of the business. Insurance can be used to help minimize the tax impact of a small business sale as well as financing retirement income.
There are many tax-efficient ways to help protect your business and help you transition to your retirement.
CARLSON FINANCIAL GROUP - 13374 Ridge Rd., North Royalton, OH 44133 - Tel:216.586.4853 – www.carlsonfinancialgroup.us. Ryan Carlson, Registered Representative. Advisory Services offered through Capital Analysts or Lincoln Investment, Registered Investment Advisers. Securities offered through Lincoln Investment, Broker/Dealer, Member FINRA/SIPC www.lincolninvestment.com. Carlson Financial Group and the above firms are independent and non-affiliated. The material presented is provided for informational purposes only. Nothing contained herein should be construed as a recommendation. Insurance products and tax, legal, or Social Security Claiming services and are not offered through, or supervised by The Lincoln Investment Companies. Neither Carlson Financial Group or Valued Capital Advisers, nor its employees, provides tax, legal or accounting advice. Please consult your own tax, legal, or accounting professional before making any decisions. 5/19
Submitted by: Ryan Carlson, Carlson Financial Group
Howard Hanna - Barbara Wilson Team
Welcome Howard Hanna - Barbara Wilson
WELCOME NEW MEMBERS
Welcome to our newest members
Howard Hanna Medina - Barbara Wilson Team
5164 Normandy Park Drive #205
Medina, OH 44256
740-297-5760
barbarawilson.com
Real Estate servicing all of Medina City and Medina County, including Sharon Township, Medina, Akron, Bath, Hinckley and Wadsworth. The Normandy Park Drive real estate office is staffed by experienced sales associates who are familiar with all types of properties available in Medina, including residential, multi-family, condominiums and vacant land.
Buehler's Fresh Foods
Welcome Buehler's Fresh Foods
WELCOME NEW MEMBERS
Welcome to our newest members
Buehler's Fresh Foods
3626 Medina Road
Medina, OH 44256
(330) 725-5000
buehlers.com
Offers an exceptional shopping experience that exceeds each customer's changing expectations through friendly, caring people and personal
relationships based on trust.
Spectrum Reach
Welcome Spectrum Reach
WELCOME NEW MEMBERS
Welcome to our newest members
Spectrum Reach
6890 Wooster Pike
Medina, OH 44257
330-591-7337
spectrumreach.com
Cable TV & Online Advertising in Medina or anywhere in North East Ohio. We're here to help businesses of all sizes grow through the power of TV, data, innovation, community experts, and unforgettable creative.
Make Your Membership Work!
Tips for Chamber engagement
A membership with the Greater Medina Chamber of Commerce is oh-so-much more than just an “I’m a proud member!” sticker to put on the front door of your business. Member benefits like website listings, participation in exclusive promotions, invites to chamber events, and more put you at the forefront of the community when you’re a member of the Greater Medina Chamber of Commerce.
But Chamber membership is a two-way street. While there are certain benefits you’ll receive year after year with your membership — interactive listings on our website, invites to events, etc. — there is certainly a way to get more bang for your buck no matter what investment level you come in at. Let us highlight a few ways to get the most out of your membership.
Attend Chamber Events - This one is a pretty obvious membership benefit that often goes overlooked by many. While we understand that you won’t be able to attend EVERYTHING with the dozens of networking events, workshops, and lunches we hold throughout the year, it doesn’t hurt to show up to an event once or twice if your schedule allows. This is a great way to get your name out there and to meet other business professionals in our community. Chamber events aren’t open to business owners or management only – staffers, please come!
Interact with us on Social Media - Want to know a great way to get a conversation rolling online? Tag us in your posts! We’re active on Facebook, LinkedIn, and Twitter to name a few. Chances are if you tag us in a photo or post, we’ll give you some social media lovin’ back. That means more interaction for your profile, and for The Chamber. Win-win!
Post on our Website - With your Chamber membership comes exclusive access to medinaohchamber.com for you to post events, coupons, job postings and more. Use this access – you pay for it! The Chamber fields dozens of phone calls and email traffic every week with people looking for events, jobs, and deals. We can’t offer your awesome information if we don’t have it!
Submit Your News - This one goes hand-in-hand with what was previously mentioned. When you have some newsworthy information to share, send it our way to any chamber staff member. We’re always looking to brag about the amazing things our members are doing. Whether your business recently completed a remodeling project, your staff headed out to the community for a volunteer day, your business won an award, or you have other great news to share — we want to know about it so we can share your news on our social media pages, add to the news section of our website, and send member news out in our email newsletters.
Reach Out - Is there an area of your business that could really use some help? Maybe you’re looking for some creative marketing ideas or want to form partnerships with other business professionals in town. Whatever it may be, always be sure to reach out to us here at the Chamber to see if we can help make some connections. If we don’t have immediate answers, just give us some time to think about things and point you in the right direction.
If there are any membership benefits that you have questions about or think that you might be under-utilizing, give the Chamber office a call or set up a meeting! We want to make sure that you’re getting the most out of your investment. Utilizing your membership benefits makes your business, the Chamber, and our community stronger.
Michael Warner, Sr., INSYTE Consulting Group, LLC
Air Force Reserve
Welcome Air Force Reserve
WELCOME NEW MEMBERS
Welcome to our newest members
Air Force Reserve
766 Howe Ave
Cuyahoga Falls, OH 44421
(330) 812-7464
afreserve.com
There are many exciting part-time Air Force Reserve jobs which allow Reserve Citizen Airmen to advance their civilian careers or continue their educations while serving close to home. Signing bonuses up to $20,000 are available for specific jobs. Go to AFReserve.com or call 800-257-1212 for more information on how you can Start Your Adventure with the Air Force Reserve.
Prime Technical Services, Inc
Welcome Prime Technical Services, Inc
WELCOME NEW MEMBERS
Welcome to our newest members
Prime Technical Services, Inc
387 Medina Road Suite #150
Medina, OH 44256
(866) 916-0132
primetechnicalservices.com
We specialize in intelligent manufacturing with the integration of high quality products for machine tools that will help customers compete in the global market with ease. Our products can drastically reduce set up time, cycle time, and make it possible to run an unmanned or "lights out" operation.
State Farm Insurance - Jennifer Hiteshue
Welcome State Farm Insurance - Jennifer Hiteshue
WELCOME NEW MEMBERS
Welcome to our newest members
State Farm Insurance - Jennifer Hiteshue
329 N Court St
Medina, OH 44256
(330) 725-0128
statefarm.com
Cleveland Indians Business Breakfast
Breakfast with the CLE Indians front office.
Build A Winning Culture
People matter. Relationships matter. That was the secret 150 guests heard about at the Greater Medina Chamber of Commerce’s business breakfast featuring the Cleveland Indians front office. Guests listened as Paul Dolan, owner/CEO and Carter Hawkins, Assistant General Manager was peppered with relevant questions from the emcee, Bob Dibiasio, Cleveland Indians’ Public Affairs Senior Vice President.
Though there were some burning questions asked and answered about certain key players and their contracts, the over one-hour long presentation focused on common business themes that all companies face.
Integrating technology for advanced analytics but maintaining a balance with the old guard and a healthy respect for experience helps to keep the team tops on many stat charts. Implementing new techniques in an open and honest format has helped to retain many key employees for several years.
Understanding the life cycle of both players and front office staff helps to set realistic goals on retention in both areas. Though being a fan of the game never leaves you, there is still a balance to be weighed on star players versus long term success. The Indians are not an organization that will sacrifice long term excellence for other short term goals. A business must be willing to make hard choices, even if it means parting ways with great people. Understanding the mission and end goal helps to clarify answers when facing difficult decisions.
The crowd was happy to again hear the news of manager Terry Francona’s contract extension. Retention of an inspiring key employee is nearly priceless. When asked when Tito would like to get the message out about his contract news, his top priority was his players and not his own good PR. It was a great example of leadership and his dedication to the players that leave it all on the field for him.
The Cleveland Indians organization exists in a realm filled with headlines and trials in the court of public opinion. At the core of their operations is still sound business practices and a belief in people that motivates staff to show up daily. (Even if it might be the day after a game 7 loss after a long rain delay.)
The Greater Medina Chamber of Commerce is grateful to the Indians front office for taking the trip to Medina to share a message the resonates with all business, big and small: culture matters.
We’d like to thank our sponsors:
Huntington Bank
Westfield Insurance
Rico Equipment
Carlson Financial
USA Mobile Drug Testing
Photography by Mark Hunter Photo
EXP Realty - Sam Livingston
Welcome EXP Realty - Sam Livingston
WELCOME NEW MEMBERS
Welcome to our newest members
EXP Realty - Sam Livingston
123 W. Washington St.
Medina, OH 44256
(216) 659-1540
samuellivingston.exprealty.com
Absolute Roofing and Construction, inc
Welcome Absolute Roofing
WELCOME NEW MEMBERS
Welcome to our newest members
Absolute Roofing and Construction, inc
12301 Sprecher Avenue
Cleveland, OH 44135
(216) 898-1563
absoluteroofing.com
Absolute Roofing is a family owned company that has been in business for over 30 years. Absolute has grown into a leader in the roofing industry with a reputation for customer service excellence. Through the years continuation of focus on the highest level of customer service has led to the reputation of service excellence that Absolute Roofing currently enjoys. This reputation of service excellence attracts high caliber applicants.