Craig Kaufman launched Kaufman Realty Group in 1994 and the business continues on its successful path even during these challenging times.  Craig is the only member of his family responsible for running his business, but his family members have played a vital role as knowledgeable, proactive investors in his business.  Craig will help us understand both the ying and yang of such an arrangement. 

In addition, for the last 12 years, Craig has been part of a Vistage International Group led by our other guest, Larry Hart.  Larry is a Master Chair with Vistage and he and the other members of the Vistage group have also played key roles in Craig’s success.

Together, Craig and Larry will provide insights that we know you will find valuable for your business as well.

Our guests:

Craig Kaufman

Craig Kaufman founded Kaufman Realty Group (“Kaufman”) in 1994.  As President, Mr. Kaufman’s responsibilities include leading the company vision, establishing strategies for the portfolio, new business development, and managing the executive team. Kaufman Realty Group is a full service real estate investment and management firm. In 1997, Craig was principal and co-founder of DECK Realty Group, which developed and managed office properties for small to medium size tenants.

In January 2000, he took 100% control of DECK and rolled its operations into the Kaufman banner. From 1986 to 1994, Mr. Kaufman gained valuable experience as development analyst, appraiser and consultant in New York City and St. Louis, for such firms as Olympia & York, Colliers Turley Martin and Dinan Real Estate Advisors. Craig holds both a master’s and bachelor’s degree in Civil Engineering from Washington University in St. Louis.

Craig resides in Atlanta, Georgia, and is involved with many civic and professional organizations. He is on the Board of Directors of Camp Sunshine, a non-profit camp for children with cancer; on the Board of Trustees of the American Jewish Committee; a Board Member of the Anti-Defamation League. Additionally, Craig is a member of the Urban Land Institute.

Craig Kaufman, Kaufman Realty Group, 3098 Piedmont Rd., Suite 490, Atlanta, GA – Telephone: 404-816-0036

…..
Larry Hart

Larry Hart may have only one vowel to his name, but he’s certainly made the most of it! An Atlantan since 1972, he’s amassed accolades and awards for his business acumen, and he advises an A-list of action-oriented executives. He’s accessible, accountable, and an all-around affable guy.
 
Larry is recognized as a leading business authority by the Atlanta Business Chronicle. Although he is too busy now to write a regular column, the Chronicle has continued to seek his expertise on strategic planning and business consulting.
 
Larry’s corporate CV includes Union Carbide, Air Products and Chemicals, and Waddell and Reed. As an entrepreneur he has been a founder and an acquirer, and currently owns several childcare franchises. In addition, he’s a certified instructor in Fierce Conversations (a method of improving communication through more effective dialog) and a past Certified Financial Planner. Larry holds his degree in Chemical Engineering.
 
Larry is an active member of the Rotary Club of Dunwoody (President 2009-2010), Georgia. Married to Stephanie, a retired first grade teacher, they have 3 children and 8 grandchildren. Larry and Stephanie reside in Atlanta, Georgia with their miniature pinscher, Nutmeg. When not spending time with family, Rotary or working, he can be found playing competitive golf.

Larry R. Hart, Master Chair, Vistage International, Inc., 3712 Eaglerock Drive, Atlanta, GA 30340
Direct: 770.938.8174 • Cell: 404.405.0759 • Fax: 404.521.4992  • Email: larry.hart@vistage.com  www.vistage.com/chairs/larry.hart.html

Sunset Family Business Radio

Recap: Practical Strategies for Coordinating Efforts to Ensure Continuity of Your Family Business

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For the May 27, 2010 Family Business Radio program, hosts Pat Romboletti and Meredith Moore welcomed commercial banker Brad Beisbier, Sr, Vice President RBC and Cleve Hill, Attorney at Law with the Bettis Law Group.

Most banking relationships are based on the need for capital and cash management needs. But as Brad said, your banker can actually be one of your trusted advisors and actually a business partner if you develop the relationship strategically. For instance, quarterly reviews with your banker are a very useful tool for you as a business owner because it is easy to lose sight of long-term goals when you are focused on the day-to-day. Your banker can give you their perspective from the outside looking in. Quarterly meetings can also be used to put plans in place that help you better take advantage of opportunities when they arise. Pre-emptive actions that Brad suggested: be as transparent as possible by sharing financial statements and tax returns.

Additionally, Brad said to consider including more than just the founder at the table when the banker is there, especially invite all potential players in the company’s succession plan. In this way, relationships develop all the way around.

This opened the door for a great discussion on the importance of getting out from under the day-to-day details to develop long-range goals.  Cleve noted that in working with his clients, he seeks to put together a full compliment of trusted advisors who act as an informal board so that you can gain valuable third-party perspective and input.

From an attorney’s point of view, Cleve pointed out that in putting together your team of advisors, particularly as relates to succession planning, your team of advisors should be tuned into your specific needs. “The advisors that most often fail are the ones who come in with a pre-packaged plan and say this is how it has to work,” he said. Rarely are answers arrived at in one meeting. It is most often an in-depth conversation that takes place over time, he said.

In case you need incentive to do your estate/succession planning, Cleve shared a worst case scenario from real life.  He shared that a business owner died suddenly with no will, no trust, no planning, children from two marriages and left the business with substantial debt. In the aftermath, the family disintegrated and untold amounts of money have been spent on litigation and the continuation of the business is in jeopardy. It is a textbook case of what you don’t want to happen.

So—where to start with estate and succession planning?  Among Brad and Cleve’s suggestion are life insurance, buy/sell agreements and developing key employees outside the family as leaders in waiting. Cleve said, “These are moving pieces, depending on what can be afforded, what can be agreed upon. Do a cost/benefit analysis. Also be mindful of the psychological piece—and answer the question “what can we live with?”   Cleve’s insight on Georgia law was especially enlightening and not what you might have expected.

This discussion provided excellent specific suggestions that any business owner can use immediately so don’t hesitate to download the entire discussion.  You will receive loads of practical information for your family owned business on these complex, but very necessary issues.

Brad Beisbier, Sr, Senior Vice President, RBC Bank, (678) 987-7183

John Cleveland (Cleve) Hill, Bettis Law Group, LLC, 404-475-8041