Who will you remember?
Monday is Memorial Day. Perhaps one of the unexpected opportunities of the COVID-19 crisis is the opportunity to pay more than lip service to the meaning of this holiday. This year we add to the list of those we remember: family, front line workers, employees, friends, and neighbors who lost their lives to COVID-19. We hold them in prayer, we wish them peace, and promise to honor them.
"If I don't have red, I use blue." Picasso
We heard you this week—you’re working your way through this and getting smarter and faster. We know family business response to crisis is different: responding with innovation and grit. Like Picasso: if they don’t have red, they use blue.
Richard Seaman, Chairman of Seaman Corporation, a 70 year old family business, uses all the colors in a hopeful message of family business crisis and survival. You can read about it in this week’s Crain's: Cleveland Business article: Look to multigenerational family businesses to survive economic disruption.
Did you say thank you?
Of course you said thank you! You thank your team, your family, and your community all the time! You say thank you because you mean it and because you know how hard everyone is working. None of us can do it alone. Watch this special message of gratitude from FBC members, the Buddig family.
The Germans are winning!
Not that it’s a competition but… the COVID-19 family business survey is being filled out by family businesses all over the globe and so far, Germany is in the lead with the most responses!
Please participate! It only takes 15 minutes, costs nothing, and pays it forward. Do it! I know you want to.
Look into our crystal ball...
...to find out what Quinlan will be doing this Fall. Or, better yet, tune in to Quinlan’s town hall Zoom meeting on May 29th from noon-1pm. Quinlan's Dean, Kevin Stevens, will provide the most current updates on Quinlan’s response to COVID-19, the planning and work being done to re-open the campus, and the future path for Loyola.
If you are interested in attending this session, please email me with the subject: Town Hall Meeting.
Sarah is always talking about that bottom line…
But what exactly does “the bottom line” mean? The language of accounting and finance can be confusing to a family business member who doesn't have an accounting background. That's why we're offering Practical Finance and Accounting for Family Business. This live, online class is happening June 22-25 and will be taught by our "balance sheet whisperer," Tom Zeller, along with the family business dynamics team from Northern Trust. Together, they will help you easily understand financial terms and how they apply to your family business. The learning is accessible for stakeholders inside and outside the family business.
You can learn more about the class and register for it here. If you have questions, please call me at 312.915.7738 or email me.
Thank you all for what you do and for showing up for your families, your employees, friends, and communities. Please stay in touch with us and each other. Loyola and the Family Business Center are here for you!