Issue link: https://www.e-digitaleditions.com/i/508347
26 FEDA News & Views Dealer's Notebook continued Changing the Way You Cook since 1990 800.988.8103 360.650.1111 woodstone-corp.com STONE HEARTH & SPECIALTY Commercial Cooking Equipment Discover why OVER 13,000 OVENS, rotisseries, charbroilers, tandoors, and planchas have been SOLD IN 75+ COUNTRIES worldwide. Made in the USA. 20 years experience shipping equipment to the Food service industry Zero administrative expenses or fees Custom freight solutions utilizing super-regionals and national partners Rate shop the best carriers in US for most desirable service lanes at reduced rates Deliver to more 1-2 days points with LTL's lowest claims rates When you MUST have a truckload, you MUST have ATS Explicit delivery receipt to eliminate unplanned accessorial charges Full-visibility on web routing with immediate vendor compliance Real invoice audit including weight & class comparison to spec sheets In transit expediting & damage control meeting with an assigned mentor (from the company's board of directors) every quarter for much-needed feedback, and enrolling in the Next Generation Leadership Institute (NGLI) of Loyola University Chicago. "If I wanted to continue to work my way up in the com- pany, NGLI was another process I had to complete," says Don of the 18-month leadership development program, touted by others in his family "because of its emphasis on preparing the next generation for the unique demands of running a family business." So, in the fall of 1999, he enrolled in NGLI and met with nine other next-generation CEO's at Loyola University Chicago's campus for half-day sessions. Led by renowned family busi- ness expert John L. Ward, the head of the Institute at the time, the curriculum included discussions on various management styles and encouraged participants to fine-tune their own. There were personal assessment tests, an assigned CEO men- tor and monthly peer groups, a favorite of Don's. "I'd gotten all of the basics of running a business in under- grad and graduate school," he says. "In the peer groups, we explored a myriad of family business subjects and I was able to reflect on my experiences as a leader and family member. This gave me a lot more insight into managing shareholder relation- ships; managing my relationships with other family members in the business and those not in the business. In essence, it prepared me for my role as a leader of the family enterprise." Moving Forward In January 2002, roughly 10 years after entering the business and a few months after 9/11, Don officially became the presi- dent of Edward Don, ending one journey and starting another. "There was no crowning moment," he says, alluding to the historical context preceding his ascension as well as the responsibility before him. "When you're on top, there isn't a lot of upside." Instead, there is pressure to at least maintain the lead or, preferably, widen the gap. Don has been very public about his desire to do both. In 2004, he set his sights on doubling the size of the company in 10 years and at more than $620 million in sales in 2007, the company continues to lean toward the goal. But there are even more important things than outpacing the market, he says, adding that investing in the people who support him in the day-to-day has always been a priority. He beams as he mentions the recent relocation of four distribution centers. "After the initial site selection, I had nothing to do with the day-to-day implementation," he simply says. "It was amazing to stand back and watch the team execute it flawlessly. "We also received the Better Business Bureau Award for Marketplace Ethics, which is certainly a compliment when you think about the Enrons of the world. Having a good team is so important, particularly a very competent COO to handle a lot of the day-to-day operations. It all comes down to hiring good people."