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David Wood visits our Centre For Family Business

by Rick Baker
On May 11, 2011
David Wood spoke at CFFB’s April 29th breakfast…telling his family’s 3-generation business story and providing education and recommendations about strategic planning. David’s stories contained and excellent mix of family pride, family respect, and business savvy…particularly, the ability to make major changes when major changes had to be made.
 
David first talked about his grandfather Wilbert Copeland (Bert) Wood, who, after losing his job in 1930 founded the family business - W.C. Wood Company. The Wood family business started as a machining operation in the back of a candy shop in Toronto.
 
As David told this story, I thought of my father and his stories of men knocking on our family’s front door in the 1930’s…asking if they could work for food. And, my Dad also told stories of his group of buddies fishing in the Thames River and giving fish to the transient men who camped there while they tried to find work.
 
“The Depression” – what a difficult time that must have been…imagine 30% unemployment…imagine losing your job while trying to feed your family…imagine being a child trying to understand it all.
 
Yet – even the darkest clouds can have silver linings!
 
David’s grandfather W.C. (Bert) Wood found such a silver lining. He must have been quite a fellow…founding a very successful family business while other men knocked on doors to work for food and other men camped in groups by the rivers…cooking fish over open fires.
 
David described his grandfather as a “fabulous engineer”. I could picture him machining parts in the back of the candy shop, designing and building electrical farm equipment. The business community would have been in disarray…money tight, some folks shell-shocked, morale low…spirits tested to the limit. Somehow, no doubt largely due to an unfailing commitment to succeed, Bert Wood created a family business during those difficult Depression years. And, in 1938, he built the W.C. Wood Company’s first freezer.
 
David explained the highlights of W.C. Wood Company history.
 
David’s father John F. Wood joined the company in 1964. John graduated from the University of Western Ontario’s Business School…now the Ivey School of Business, where David teaches. By the mid-1960’s W. C. Wood Company manufactured a range of products: David mentioned farm equipment, home appliances, military equipment, hardware, water heaters, and aircraft equipment…including landing gear parts for Avro Aircraft Limited. John Wood brought a new level of business savvy to the family business. John took over leadership of the family business in the mid-1970’s.
 
John Wood retired in 2005. That’s when David took over leadership of his family’s business. It was clear major changes were required. He refocused on growth of core-business profits. The company right-sized and returned to profitable operations by 2007. David made the decision to sell W.C. Wood Company. Whirlpool owns the company now. David stayed to help transition the business until 2008. And, still involved in family business, David serves on the boards for Danby Products Ltd and Westminster Woods.
 
David is a full-time lecturer in operations management at the Ivey School of Business. Ivey summarizes Operations Management as “a discipline about managing productivity, inventory, quality, and other processes related to making products or providing services”. In addition, David provides business consulting services.
 
So, at our CFFB event, it was easy for David to move from providing a history of his family’s business to providing education and recommendations about strategic planning. David started by sharing a startling pair of facts:
  • 10% of family businesses have a strategic plan
  • 53% of companies have a strategic plan
That signals an area where family businesses can and should improve.
 
“Strategic planning is important because it realigns management’s direction towards a common goal.”
 
David helped CFFB members understand another important point…
 
Strategic Planning offers an opportunity to develop the next generation.
 
David asked - if strategic planning provides such value then why don’t business people do it?
 
David provided what he believes to be the top reasons business people fail to do strategic planning:
  • Lack of time…people say they don’t have time to plan
  • The planning process is frustrating…business people know the day-to-day work and they feel comfortable doing the day-to-day work whereas people do not feel as comfortable working on long-term decisions
For governance and planning at family businesses, David described 3 important considerations…3 partsof business:
  • Ownership
  • Family
  • Business Managers
He recommended family business people discuss at least these 3 parts of their business at least once a year. He also recommended we separate these 3 parts and consider them individually.
 
To help start the process, David provided his definition of strategic planning.
 
Strategic Planning def’n:
 
What you DO to create a sustainable competitive advantage.
 (and…what you DO NOT DO)
 
[If you are like me then you keep your eyes open for straightforward business definitions…and you will remember this one David provided.]
 
Strategic Planning is what we family business people must do to create a sustainable competitive advantage. As David noted, things change rapidly in business.
 
The value doesn’t rest in the pieces of paper created under strategic planning.
 
The process of planning is where family business people will obtain the most value. The value is in the sharing of thoughts and ideas.
 
Quoting David Wood:
 
“the document is the by-product”
 
“companies that engage in the process have higher success rates”
 
David provided a summary of the MBA strategic planning process, he talked of the importance of the implementation work, and he answered questions for our members.
 
Thank you, David, for sharing your family story and your strategic planning recommendations.

Tags:

Family Business and CFFB | Leaders' Thoughts | Succession

Family Business Success Story – Pioneer Craftsmen

by Rick Baker
On Feb 24, 2011
Two separate paths came together.
 
One path started at a farm near the Pioneer Tower, by our Grand River.
 
The other path started in England…then crossed the ocean to end up at our Cambridge.
 
The two paths came together in 1970 when the country fellow, Gary, met the city girl, Marie.
 
That is a very quick summary of how the second generation of the Pioneer Craftsmen family business came about. Gary Adam’s father, Ken Adam, started the company in 1953 when he transitioned from farming to building and home renovations.
 
In 1972 Marie and Gary married and they had two sons, Jamie and Jeff. Jamie chose to work at the family business. Jeff is a teacher in Kitchener.
 
Since the 1970’s Gary and Marie have worked together, building the family business. Their grounding forces were hard work, care for clients, and an ability to read the market.
 
That’s the solid ground Pioneer Craftsmen has been built on for over 30 years.
 
Marie summed it up this way, “If you don’t treat your clients well and give them more than they expect then you are not going to be successful in business”.
 
That way of thinking existed from the start, when Ken Adam created the business. Ken is fondly remembered as a man who was “light on talk and heavy on walk”. Ken was a family-business role model for Gary and Marie and also their son Jamie who became President of the family business in 2009.
 
Marie and Gary are a close couple: they credit one another for providing long-term support…good sounding boards for one another…and helping one another see the big picture. And, it’s also important to have fun…that’s key to survival.
 
That’s strong fabric for a family business!
 
 
Gary and Marie Adam
 
Sharing fond memories…
 
When asked about fond memories, Marie smiled and told the story of her teenage son, Jamie, making his way to and from job sites on his bicycle during the summer. This started in 1988 when Jamie was 14 years old. “It was expected he find his way. He never asked for a ride”.
 
Then, another broad smile as Mom admitted – “I did drive him once in a while when it was pouring rain”.
 
Jamie, the 3rd generation Pioneer Craftsmen Adam, studied and worked through the roles of labourer, office, sales, and General Manager before earning the role of President.
 
A long-time employee, Paul Meier, also worked his way up from on site roles to Sales Manager. Paul is now part owner of the company.
 
Paul and Jamie will be the guiding forces as Pioneer Craftsmen steps toward its exciting future.
 
 
Jamie Adam & Paul Meier
“Poised to take Pioneer Craftsmen to the next level!”
 
Marie’s story continued…
 
“Our son…watching the progression from bicycles and summer jobs to earning the job of company President…that’s our proudest family-business memory”.
 
***
 
Pioneer Craftsmen works out of its new home at 1510 Victoria Street North, Kitchener.
 
 
The Pioneer Craftsmen team, at their new Kitchener work place.
 
Pioneer Craftsmen is proud of the strong client relationships it has built.
 
Here is a sample to explain what that means: in the early 1980`s Pioneer Craftsmen did a project for a client in Guelph. During a recent visit this client mentioned to Gary that Pioneer Craftsmen became part of the family during that renovation. That’s why they have chosen Pioneer Craftsmen to do all renovation work over a period of almost 30 years and 22 projects.
 
When clients consider you part of their family…that’s business excellence!
 
And that is one of the stories Jamie, Paul, Gary, and Marie use to help their team understand their company’s client relationship goals.
 
A couple of samples of the impressive work Pioneer Craftsmen is doing at our community:
 
Before Pioneer Craftsmen magic After Pioneer Craftsmen magic
 
Before Pioneer Craftsmen magic After Pioneer Craftsmen magic
 
Awesome work!
 
 
Family: that’s the starting point for a family business.
 
And, it is the ending point for this Family Business Success Story.
 
Marie and Gary Adam enjoy 4 grandchildren: Marcus, Johnathan, Maddy, and Kaylee.
 
Here’s a picture of Marie & Gary, their sons Jamie & Jeff and their sons` families…having fun!
 
 
Congratulations to a fine local family and a fine local family business!

Tags:

Family Business and CFFB | Succession

Family Business Success Story - Wright Landscape Services

by Rick Baker
On Oct 28, 2010
When you sink that absolutely amazing putt at the Conestoga Golf Course do you think of the Wright family?
 
Well, if I ever manage to sink a long putt then I will think of the Wright family. Without the Wright family that putt would not be possible.
 
Here's the Wright family history…
 
James Wright came to Canada from England, where he was a haberdasher. When he arrived in Canada James became a gentleman farmer, and politician. Two of James’ sons, George and John, were born on the family farm in Guelph. In 1867, the year Canada was born, George and his brother John bought the farmland now occupied by the Conestoga Golf & Country Club, then known as the Bend Farm. The Wright family farmed the land for almost 100 years: George passed it to his son William who passed it to his son Oliver.
 
In addition to all the work put into his farm, Oliver Wright helped build our community. Oliver served as president of many agricultural organizations, reeve and warden of Waterloo County, and he was a founding member and president of the board of the Doon Pioneer Village Foundation.
 
In 1960 Oliver Wright sold the farmland and that led to the development of the Conestoga Golf & Country Club.
 
That’s why that absolutely amazing putt would not have happened without the Wright family.
 
Oliver Wright’s son John carried the family’s deep passion for the land…our green environment.  John Wright attended the University of Guelph and began his career by working pest control in Toronto where he ended up focusing on weed control. In 1967 John created Wright Lawn Care in Bloomingdale, not far down the river from his hometown. John has always been a conceptual thinker who has a knack for hiring skilled workers to deliver the services.
 
The Wright Family Home - 1967
The Wright Lawn Care Fleet – Early 70’s
 
While all of this was happening on the work front, on the home front John and his wife Ruth brought another generation of the Wright family to our community. Following shortly after an older sister their son Dave arrived in 1972.
 
The same year Dave was born, John Keenan joined Wright Lawn Care. John Keenan has been with the Wrights ever since…more about John Keenan later.
 
Dave Wright grew up in Bloomingdale, surrounded by his father’s bustling lawn care business. As a university student, Dave worked at other local landscape businesses. Dave suspects his Dad might have had a hand in getting him those jobs. Certainly, that could have happened…John was and still is well known in the landscape industry, not just locally but throughout Ontario. John helped create the Hamilton Chapter of the industry association ‘Landscape Ontario’ in the early 1970’s and John championed the founding of the Waterloo Chapter of Landscape Ontario.
 
In recognition of his long-term contribution to Landscape Ontario, John Wright was awarded a lifetime membership in 2007.
 
Another proud Wright achievement
 
Dave, like his father, ventured from our community to seek work. But, this time the son travelled even farther. After obtaining a landscape architecture degree from the University of Guelph, Dave Wright spent 7 years consulting on major landscape projects in North America and Asia, including exotic places such as Dubai. Dave worked out of offices in Cambridge, Houston and Vancouver.
 
Then, like his father before him, Dave returned to our community. In 2002 Dave joined the family business and the Wrights began succession planning. The succession plan was completed and John Wright retired about 4 years ago.
 
Now, some more about John Keenan.
 
John has been a vital part of the Wright family business since 1972. John illustrates the important role key, valued employees can play in family businesses.
 
John Keenan is one of those straight-up fellows who says what’s on his mind. He has analytical skills and he knows how to take care of the details. In the early years John Keenan worked in the field and later made sure the operations were kept on track while John Wright used his vision to build an entrepreneurial enterprise.
 
As the Wright family-business succession happened and the company was passed from John Wright to his son Dave, John Keenan provided stability.
 
John Keenan
Dave Wright
 
John Keenan had been a part of the leading-generation success and he was excited about the prospects for future growth. Today, John Keenan runs the operations in all divisions of the Wright family business. And the Wright family business is doing very well, tripling in size since Dave Wright and John Keenan pooled their skills in 2002.
 
The 2010 Wright fleet
 
Dave Wright carries on the Wright family tradition of building our community. Dave is past-President of the Waterloo Chapter of Landscape Ontario, where he now serves as the provincial board representative. Dave is also a director of the board of our community’s Centre For Family Business.
 
The Wright family has a 5-generation tradition of making our community a better place to live. They cared for the land and paved the path for the Conestoga Golf Course. Then they created beauty throughout our community…and at our homes.
 
Here’s a sample of terrific Waterloo Region landscaping…
 
Quality work, a Waterloo Region project by Wright Landscaping
 
Well done Wright family!

Tags:

Entrepreneur Thinking | Family Business and CFFB | Succession

Business Premises Statements – The Starting Point for Strategic Planning

by Rick Baker
On Jul 22, 2010
The disciplines of mathematics taught us ‘first principles’.
 
Like first principles, statements of business premises provide a grounded starting point for business planning.
 
Business Premises Statements = statements of perceived truths…the major facts, as we see them, about the marketplace environment we are choosing to work in.
 
Before setting annual goals, we need to make clear statements of our business premises.
 
Business Premises statements describe only our most-important views about our chosen market niche.
 
5 statements, one for each of 5 Business Premises works well.
 
Business Premises statements must be more than descriptions of our business environment. They must explain our perception of the reasons our business makes sense.
 
If you practice Jim Collins’ Hedgehog Concept* then your business premises statements describe why your Hedgehog makes sense. If you practice SWOT analyses then your business premises statements show why your strengths are strengths, why your weaknesses are weaknesses, etc.
 
If you are starting a new business venture then your business premises statements must provide logic supporting your entrepreneurship.
 
If you are working to bring about major change at your business then your business premises statements must support the need for such change.
 
Regardless, do not rely solely on your own perceptions or those of your people. Before you finalize statements of your business premises have them reviewed by people capable of providing sound opinions about big-picture items…and only seek help from people who you know possess that big-picture capability.
 
If you are interested in seeing sample statements of Business Premises then let me know…
 
*Link to a blog about Jim Collins’ Hedgehog Concept.

Tags:

Entrepreneur Thinking | Succession

7 Powerful Answers - #3

by Rick Baker
On Dec 29, 2009
This is blog #3 in an 8-blog series about Powerful Answers to 7 important business questions. The series is intended to be an introduction to strategic intuition and planning.
 
Preamble:   Business is about People and Process. Since People design the Process, when you boil it down business is about People. People do only 3 things: good habits, bad habits, and new things. There is a relationship between actions and strengths. I like the way Marcus Buckingham and Tom Rath [former Gallup folks] have written about strengths. While I know this doesn't do justice to what they have written, I summarize their message this way:
 
Strengths = innate talent themes + knowledge + skill
Contribution = strengths + the influence of personal value systems [attributes of character]
 
As business leaders, we should understand the Strengths our People possess and we should understand the Values or attributes of character we desire. These combine to become our corporate culture, whether planned or not planned.
 
Question 2: What HUMAN strengths will you use to build your business?
 
Powerful Answer:  an excerpt from Conestoga-Rovers & Associates website, www.craworld.com
 
'Mentoring - One area that is continually emphasized is the responsibility that all senior employees have to mentor junior staff. Mentoring is key to the continued success of CRA into the future.'
 
Postamble: Question 2 is around corporate culture. CRA provides other similarly powerful statements that touch human strengths. I selected the mentor statement because it struck one of my chords. It is refreshing to see a company culture committed to mentoring...communicating about it so clearly…and clearly telling people they are responsible. This empowers and emboldens.
           
Footnotes: references… a couple of fellows who have written about their Gallup strengths experiences
Marcus Buckingham - strengthstest.com/strengths-tests/go-put-your-strengths-to-work-access-code
Tom Rath - strengths.gallup.com/110440/About-StrengthsFinder-2.aspx  
 
The next blog will consider Question 3:
 
What do you do BETTER and DIFFERENT than anyone else?

Copyright © 2012. W.F.C (Rick) Baker. All Rights Reserved.