Gratitude and Reflection – A Letter From The President

Dear EFBC Members,

As we prepare to bid farewell to another eventful year for the EFBC, December arrives, adorned with the warmth and joy of the holiday season. It’s a time for reflection, gratitude, and showing appreciation for the people who make our business journeys worthwhile.

As business leaders and professionals, it’s essential to remember the significance of showing appreciation for our partners, coworkers, clients, and everyone who has played a role in our successes throughout the year. This holiday season, let’s take a moment to express our gratitude and spread the spirit of appreciation. A simple gesture or a heartfelt message can go a long way in strengthening relationships and building a supportive network.

In celebrating milestones within our community, I would like to extend my warmest congratulations to two of our valuable members, Krusinski Construction Company and Brucher Machining, Inc., on their exceptional achievement of marking their 50th Anniversary! It’s an honor to have them as part of our EFBC community!

In the past month, we had the privilege of hearing from one of our own, B.J. Slater, who shared an insightful analogy between business leaders and changes in the aviation industry. The psychology of human factors “Soft Skills” used a flight crew team and business leadership team. Also, the white paper from Strategic Partner Burke, Warren, MacKay & Serritella, P.C. regarding year end compliance issues for business is a necessary tool for the leadership toolbox.

As we approach the new year, our planning for 2024 continues. Your input and engagement are crucial as we shape the direction and initiatives of EFBC for the upcoming year. Look out for updates on planning sessions and opportunities to contribute. We have an exciting lineup of events for the upcoming months:

• “Name, Image, Likeness” Fireside Chat featuring Strategic Partner Eric VanderPloeg from Burke Law on February 8th, 2024.
• “Unlocking Potential: The highest form of leadership” event featuring renowned speaker Sam Silverstein on May 16th, 2024.

We encourage you to mark your calendars and make the most of these opportunities to learn from industry leaders and foster meaningful connections within our community.

As we approach the close of 2023, let’s carry the spirit of appreciation and reflection with us. EFBC is not just a business group; it’s a community built on support, collaboration, and shared aspirations. Thank you for being a part of our remarkable EFBC family.

Wishing you all a joyful holiday season!

Dave Horvath
EFBC President 2023-2024

Meet Dan Migacz, CFO at A.M. Woodland Outdoor Design

Get to know Dan, a new member of EFBC!

A.M. Woodland Outdoor Design / Lotz Custom Carpentry, Inc.
Founded: 2009
Location: Mundelein, IL / Salem, WI

Tell us about your career leading up to where you are now:
I studied accounting in undergrad (IWU) and grad school (ISU). Once I graduated, I went to work at a public accounting firm, McGladrey (now RSM US) and passed my CPA exams. After a couple of years there, however, I knew that I didn’t want to stay in public accounting. I transitioned over to Cardinal Health and was there for a short time. I moved on to a private equity firm called Sherman Residential, where I was the Controller for five years. That was a fantastic role, and I learned a lot about deal making, acquisitions, and running large multi-family properties. And now, for the past six years, I finally came to work with my brother!

What do you like most about what you do?
As the CFO, I work a lot with numbers. I wouldn’t necessarily say numbers are my favorite thing, but I definitely have a knack for them. I just really enjoy getting to spend every day with my best friends. I work directly with my brother and other family members and then our business partners have basically become family. And it’s just great to be able to get to do what we do, while also being able to spend every day together. When it comes to problem solving, it is exciting that we are the ones problem solving, and collectively coming together to make a decision. But of course, there’s pros and cons to that, because the full responsibility of the decision making does fall on us as well.

How did you hear about the EFBC?
So, I’ve known Marcus Newman (EFBC Membership Director and Strategic Partner) for several years now. He does our company group insurance benefits. We were talking about some health insurance items and he brought it up. He asked us if we had ever heard about EFBC and mentioned that it would benefit our business and that it would be really good for us. A week or so later I reached out to him and expressed that I was interested in heard more and he sent me over some information and the website and said that if I wanted to know more to get in contact with Liz Fidanovski (EFBC Executive Director) and have her come out and sit down with you guys and explain what EFBC Is all about.

Why did you join, and what do you hope to gain from your membership?
I would say it was a combination of two things. The first is the programs. Liz described the programs EFBC hosts, and I was excited at the opportunity to not only participate but my brother, our partners, and our key employees. Whether it’s an HR roundtable, a finance roundtable or different programs that we can send our employees to. We are always interested in continuing learning opportunities and staying up to date on current policies and best practices. In addition to that, the second and for me, personally, the biggest draw were the peer groups, or forums. I was excited to have a group, that meets regularly who have been through a lot of the same things I am going through. I was excited for the shared experiences with a group of businesspeople who are on the same level to gain insight but to also share my own experiences in a safe, confidential environment on both personal and professional lives. It was just exciting to have regular sit downs and have a good, honest conversation with a group of people that actually care about me. In other groups I have participated in, the interpersonal experiences varied drastically, and this just feels on a different level from that. Our business partner, at the moment, is busy with his family but I have been sharing with my brother who will hopefully be joining soon.

Join us in welcoming Dan to the EFBC community.

A Season of Growth – Letter From The President

Dear EFBC Members,

With October ending soon and us moving towards November, we find ourselves in a season of focus and determination. It’s a time for Midwesterners to buckle down and turn their attention to business strategies and plans for the year ahead. Here’s what’s happening in our EFBC community this November.

For those who participated in our forum retreats last month, November presents the perfect opportunity to put those newfound leadership skills and perspectives into action. Take the insights gained from your retreat experiences and apply them to your daily endeavor’s family & Business. Let this be a season of growth, both personally and professionally.

As we dive into November, here are a few key highlights to look forward to:

• Leadership 2.0 ends tomorrow, Oct 25th
• Nov 2nd Sales and Marketing round table
• Nov 8th finance round table
• Nov 15th Flex Forum

Keep an eye on our event calendar for details on these opportunities to connect with like-minded professionals.

As we move forward into November, let’s remember that our strength lies in our collective determination and dedication. EFBC is more than just a business group; it’s a community that supports, empowers, and uplifts one another.

Thank you for being an integral part of our dynamic EFBC family. Your contributions and commitment are the driving force behind our shared success. Here’s to a focused and productive November!

Dave Horvath
EFBC President 2023-2024

Rewiring, Not Retiring

Retirement is a golden period, a time to relax, enjoy the fruits of your labor, and finally do all those things you’ve dreamt of for years. However, for many, no longer doing the work you’ve been a part of for decades can also bring a sense of loneliness or a lack of purpose. The good news is that it’s never too late to embark on a new journey, and retirement can be the perfect time to discover a new passion or endeavor that adds fulfillment to this chapter of your life.

One of the remarkable aspects of retirement is that you finally have the time to explore what truly interests you. Start by taking a trip down memory lane. Think about the activities or hobbies that once brought you joy but were put on hold due to your busy working life. Did you have a love for painting, gardening, or playing a musical instrument that you couldn’t fully pursue? These interests could hold the key to your new passion.

While reflecting on past interests is a great starting point, don’t limit yourself to the familiar. Retirement is the perfect opportunity to step out of your comfort zone and try new things. Consider taking a class or workshop you’ve always been curious about. It could be learning a new language, trying your hand at pottery, or exploring the world of photography – new experiences of any kind could ignite a spark within you.

Building connections with like-minded individuals can play a crucial role in discovering your new passion. Join clubs, social groups, or online communities centered around your interests. These connections can provide valuable insights, support, and motivation. Surrounding yourself with people who share your new passion can be a key to continued enjoyment of this endeavor.

Retirement is also an excellent time to explore opportunities for giving back to the community. Volunteering can be an experience that not only provides a sense of purpose but also exposes you to new interests and passions. Whether you’re mentoring young adults, helping at a local animal shelter, or contributing to causes close to home, there are countless ways to make a positive impact.

Finding a new passion or endeavor in retirement may not happen overnight. It’s essential to be patient with yourself during this process. Your first attempt may not lead to a new lifelong passion, and that’s okay! The key is to remain persistent and keep exploring until you discover what truly resonates with you.

Retirement is a time to celebrate life, and your journey of discovering a new passion is a significant part of that celebration. Be proud of your efforts and achievements, no matter how big or small they may seem. The joy is in the journey itself, and the fulfillment you find in your newfound passion will make retirement an even more enriching and exciting phase of your life.

In conclusion, retirement is not the end of the road but a new chapter waiting to unfold. By embracing change, reflecting on your interests, connecting with others, and staying persistent, you can successfully rewire yourself to find a new passion that brings purpose and joy to your retirement years. Remember, a new adventure might be exactly what you need to make the most of this exciting phase of your life. Happy rewiring!

Meet Gregory Cooney, Owner and Partner CMO of Educational Environments

Get to know Gregory, a new member of the EFBC.

Educational Environments
Founded: 1967
Location: Elk Grove Village, IL

Tell us about your career leading up to where you are now:
Well I’ve been at Educational Environments much longer than I care to admit! I worked in menswear as a buyer for a time before starting here, but I basically grew up in this business. My father owned the company, but my brother, my sister and myself have run it for 40 years now. The company itself has been in business for 56 years. I joined thinking it would be something transitional but ended up liking the work, so I made a career out of it. My focus is in sales, marketing, and design.

What do you like most about what you do?
Having the focus of providing furniture solutions that encourage new learning models and ways of teaching that are more relevant to students today makes it very engaging to be doing this work.

How did you hear about the EFBC?
Interestingly enough I heard about it from a “friendly competitor” also in this field! They had been involved in EFBC for a number of years, and I was speaking to him at a conference where he mentioned EFBC to myself and my daughter as something that may benefit our company.

Why did you join, and what do you hope to gain from your membership?
Looking for resources around succession planning or a transition to a new generation of the family was important to me. Learning more about Forum and doing my first Forum session, now my team and my daughter’s are more interested in joining Forum too. It’s really nice to have those outside resources, especially when you’re a family business, because it’s easy to get tunnel vision. Having these outside influences helps us to avoid that tunnel vision and the different perspectives are something I really appreciate and can learn a lot from.

Join us in welcoming Gregory to the EFBC community.

Purpose First Entrepreneur – EFBC Book Review and Takeaways

The EFBC is always on the lookout for works that may support our members and community in different ways. Whether it’s a whitepaper from our Strategic Partners, programming led by EFBC community members, or thought-provoking reads members may enjoy, we want to share the wealth of knowledge that comes from the people around us! Today we are reviewing Purpose First Entrepreneur, a book from upcoming Fireside Chat speaker Pete Wilkins, and sharing some key takeaways for anyone interested in EFBC!

Purpose First Entrepreneur opens with Wilkins explaining his road to discovering his purpose in entrepreneurship, a road that left me stunned at the resilience displayed. Through a series of events that each seem more catastrophic than the last, Wilkins weaves his story of setbacks leading to an important self-discovery. In Wilkins’ case, this was the discovery of his vision for what he wanted to work toward in his life and career – something that EFBC members are likely closely familiar with, as many of them likely found themselves in similar situations, starting businesses based on their discovered passions and purposes.

Wilkins spends time helping the reader define their vision early in the book through guiding questions. If you’ve read other books in this genre, you are likely familiar with people asking, “What do you enjoy doing?” and “What are you good at?” to determine your purpose. Wilkins adds an additional layer to these questions, asking, “How will you make the world better?” This rounds out a purpose further and helps to connect the reader with the world around them instead of focusing solely on themself. This connection with a community around the entrepreneur is central to the themes of EFBC – from forums to dinner events to simply calling another member up to chat, helping make those around you better is at the core of our beliefs.

“Purpose First Entrepreneur” is a fitting title for the book as Wilkins guides the reader through the discovery of their purpose but doesn’t ever forget the entrepreneur promise made by the title. There are in-depth examples of how someone might go from the initial purpose discovery to the launching of their business to some of the tools or strategies that these people may employ, and even further into how someone might seek funding for their business. While many of our members are past this stage of their business development, receiving this level of detail on funding and investing will still be useful to much of our community!

The depth given regarding the business side of being a purpose-first entrepreneur is impressive – especially regarding growing the business. This should be no surprise due to the author’s perspective as a venture capitalist who has seen many companies go through this growth first-hand. That said, Wilkins also knows when to refer to another expert in the field and is not shy about sharing resources that help the reader’s understanding when a topic might be too off-path for this particular book.

Wilkins explains that while there are many things about an entrepreneur’s journey that they can control, there are uncontrollable factors that each person may have to overcome; this demonstrates a level of consideration for people who may typically be disenfranchised by works aimed at potential entrepreneurs. EFBC is all about uplifting each other to overcome obstacles, so this sits well with us! To consider those who may need additional support from their surrounding community is to show a degree of care that EFBC strives to instill in its members.

Throughout this book, Pete centers on the entrepreneur’s well-being, not just in a business sense but in a holistic sense. There’s an emphasis on maintaining one’s emotions and relationships with others while building their vision. That’s refreshing and is a core reason EFBC reached out to Wilkins about speaking at an event with us, given our insight into emotional intelligence and how it relates to entrepreneurs and family-owned businesses.

Purpose First Entrepreneur was a compelling read. It helps that alongside the book, the reader gets a worksheet that directly guides them through the process laid out by Wilkins. The story is encouraging, the advice is accessible, and the writing is engaging. If you’re interested in what you’ve read here – which was a surface-level look into the information offered by Wilkins – it’s worth a read. That is even more true if you plan on being at EFBC’s Fireside Chat on October 26th with a chat by Pete Wilkins himself.

Retreat Reflections from EFBC Members

A quick visit to our homepage, myefbc.com, will have you met with an abundance of information from blogs to events to membership benefits and everything in between. A smart eye will see the words “forum” and “peer group” sprinkled throughout the pages. EFBC is good at many things, but we excel at forums. Our peer group model is extremely successful. Additionally, we are proud to boast a high member retention rate, to which we attribute to the forum model. A component of forum that isn’t talked about enough but provides extreme value to members is retreat.

Each forum goes on an annual retreat. Retreats are 3 days away together and are only for active members in the forum. Retreat gives members time for introspection and time for shared experiences and personal growth. The retreat is an opportunity for members to reflect on their past and explore their future within an environment that is confidential and open.

We asked some of our members who recently went on retreat and here’s what they had to say:

“Bonding: As a business owner and a family man I have no time to create these special bonds with others. I am either taking the kids some place, trying to make plans with my wife or having to work. I don’t have time for myself to create these outside bonds with others. This is a way for me to really talk to each person in my forum and create individual bonds. I guess I really enjoy hearing about other people that have to deal with the same struggles I do. It helps show that we are not alone dealing with issues in our business. Other people have problems with staff and have dealt with their situation in a certain way. I get to hear from 5 others in a safe group setting on how they deal with a problem and maybe it can help me get through mine.

Confidentiality: At our retreat a lot gets talked about our businesses and personal life that really allows for us to open up to each other. Hearing and understanding what the other person is going through. It was made clear from the start of forum that confidentiality is so important and that at our retreat you can talk about anything with no judgement. There is not a subject that I feel uncomfortable talking about to each of the others members. We really get to dive deep on retreat because of the time we get to spend with each other. You never feel like you don’t have the time to let it all out. I think that the retreat really helps form a great way for us to kick off the year of forum with a new outlook on things.” – Scott Lichtenstein, President, Richardson Seating Corporation

“For me the forum experience is the best part of my EFBC membership. The monthly meetings are a great time to talk shop with other business owners in similar positions to me. But the retreats are where we make and reinforce the personal connections we lean on during the rest of the year. The monthly meetings are so much more valuable because I know my forum mates personally so well. And that personal relationship really stems from the exercises and time we spend together at retreat.” – Jay Smith, President, MacGill

“My first retreat gave me pause and reflection for weeks before I went. My forum had been together for a few years, and I was the new member attending. Everyone had such exciting and warm emotions before attending. I was scared. I wasn’t sure how I was going to meld into the group. When I arrived at the house, I didn’t bring my things inside or pick a room. Part of me wasn’t sure if I was going to stay. To top it off, they suggested that I present first to the group. Here I went… vulnerable and raw with my lifeline and then the assignment. So many emotions, from tears of sadness to tears of joy. My group welcomed me with open arms and showed me that strangers can make lasting friendships when you allow them in your life.” – Colleen Kramer, President, Evergreen Supply Co.

“I feel that retreat is an opportunity to go deep with content as well as relationships with my fellow forum members. I find that retreats are also a chance to challenge me to listen more, reflect more, and love more. Retreats are at the center of what the EFBC is all about.” – Eric Weinstein, Principal, Specialty Store Services

“Retreat is something I look forward to each year. I always enjoy the presentation topic and this year was no exception, The Road Ahead. Through my preparation I was able to think about where I wanted to go and create a path on how to get there. I discussed my obstacles with my forum and received amazing shared experiences. We also had time to hang out as a group and our group activity this year was a hot air balloon ride. It was breathtaking and an experience I think everyone should do. Over the three days we spent together our relationships deepened and I got the chance to just be me. It is an incredible experience and feeling to know you are around people that will support you and allow you the safe space to express what you are going through without judgement.” – Nicole Ziemba, Chief Compliance Officer, Primrose Candy Company

“The retreats have been critical to the success of forum. Retreats breed connectedness, or even call it intimacy, and intimacy or connectedness is critical to the year’s forum meetings being enriching for the presenters as well as the forum at large. The richness of a forum is critical for sharing a deepness to the experiences we all have personally, professionally and within our families. I am grateful for the retreat we had this year and the connectedness we all feel currently as we move into our year of forum meetings.” – Jon Kabance, President, Biokinetix

“Other than the opportunity for reflection and planning, I feel that the outside activities bring the group closer together. Our recent retreat we went a hot air balloon ride of which a few members were originally uncomfortable but did so anyways. During the ride it was great and everyone was relaxed and had the opportunity to do something that is unique and memorable.” – Mike Walsh, Vice President Business Development, ATMI Precast

“Retreat for me is always a highlight of the year. It has all the benefits of forum and then some, but without the same time constraints. It’s an opportunity to do a deeper dive and reflect on my life and business as a whole rather than one specific issue. I share those reflections with my forum members and learn from their questions and experiences. Since at retreat we all do the same exercise, it is interesting to see each member’s take on the exercise, their presentation, and their insights. I don’t have another place where I can explore issues as deeply and get rich feedback from trusted friends.” – B.J. Slater, President, Plant Marvel

Of course, these are only a few voices that live within EFBC, but the message is clear. The value in retreat, to supplement the forum experience, is un-matched. Retreat allows members to not only go deeper with themselves, but with each other. It strengthens the health of the forum and aids their longevity. We have groups that have been together for 25 years, and we are proud of that. Members who have leaned into forum state that they have not only become better in their business, but better in their families and their friendships.

Interested in joining EFBC and experiencing forum and retreat? Learn more about forum and join today!