Tag: Succession Plan
Transforming Family-Owned Businesses For Continued Success with Jim Scatena (Ep. 9)

Transforming Family-Owned Businesses For Continued Success with Jim Scatena (Ep. 9)

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Family-owned businesses face unique struggles and, therefore, require unique solutions. 

What do those look like?

This release features Mike Heckman chatting with Jim Scatena, former CEO of FloraCraft®. Jim discusses his consulting work with businesses, emphasizing the importance of financial understanding and management. 

He shares some of the pain points family-owned businesses face, the significance of cost analysis, and adapting to economic trends. He also covers cash flow analysis, the necessity of a financial cushion, and the value of exit and succession planning for business sustainability. 

Discussion points include: 

  • The unique challenges family-owned businesses face in the modern day and how owners are overcoming them
  • How to better adapt to economic trends like higher interest rates
  • The value of comprehensive cash flow analysis and exit planning
  • How to build a prosperous succession plan
  • And more!

Resources:

Connect with Mike Heckman: 

Connect with Jim Scatena:

About our Guest: 

Jim Scatena is the retired CEO and President of FloraCraft® Corporation. FloraCraft® is the world’s largest fabricator of Styrofoam® brand products for the arts & crafts market and a key supplier to Walmart, Dollar Tree, Dollar General, Michaels Stores, Jo-Ann Fabric & Crafts, Hobby Lobby, A.C. Moore, Five Below, Amazon and many other retailers and mass merchants.

Jim is a recognized craft industry leader and serves as the Chairman of the Board of Directors of the Association For Creative Industries (AFCI). Jim has also served as chairperson of the craft industry’s national trade association, CHA (Craft & Hobby Association). Jim has strong leadership skills and is a trusted advisor. Jim also has experience as an expert witness for litigation involving the arts and crafts market.

Before his experience at FloraCraft®, Jim served as Vice President and General Manager of Wilton Enterprises, a consumer products packaged goods company serving the housewares and crafts industries.

Jim also served as Director of Sales with the art materials division of Binney & Smith, the manufacturer and marketer of Crayola brand crayons.

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Unlocking the Secrets of Successful Estate Planning with Blake Riemer (Ep. 6)

Unlocking the Secrets of Successful Estate Planning with Blake Riemer (Ep. 6)

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What would happen to your finances if you were suddenly unable to make decisions? How would you ensure your family and business are taken care of?

In this episode, Mike Heckman is joined by Blake Riemer from Riemer Law PLLC to explore the value of estate planning and the common mistakes individuals make when handling it on their own. 

Tune in as Blake emphasizes the need for designated individuals to handle finances and make medical decisions in case of incapacitation. 

Blake discusses: 

  • Some of the most common mistakes individuals make when creating their own estate plan
  • The importance of frequently updating your estate plan (why it’s not a one-and-done deal!)
  • The difference between estate plan ‘do-it-yourselfers’ and those wanting to consult a professional
  • Ways he and his firm can support in multiple areas, including family law, custody, divorce, landlord-tenant issues, contractual work, and more!

Resources:

Connect with Mike Heckman: 

Connect with Blake Riemer:

About our Guest: 

Attorney Blake M. Riemer currently specializes in estate planning and probate matters. Setting up an estate plan can be a confusing and burdensome task to take on individually. Blake can walk through and break down each step of the legal process providing peace of mind for his clients. Whether it’s a will, trust, power of attorney, or even a simple consult, Blake ensures that his clients and their families are protected and well-informed. He’s all about providing professional legal services without sacrificing the small-town personal touch.

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