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Surging Cedar Fair Isn't Just Enjoying the Ride 20150615-NEWS--1-NAT-CCI-CL_-- 6/12/2015 3:21 PM Page 1 $2.00/JUNE 15 - 21, 2015 Surging Cedar Fair isn’t just enjoying the ride By TIMOTHY MAGAW strategic plan — dubbed FUNFor- nounced it was targeting $500 mil- Witherow, Cedar Fair’s executive Parent company [email protected] ward, as the company’s stock lion in EBITDA by 2018 — some- vice president and chief financial trades under the symbol “FUN” — thing Cedar Fair’s top brass be- officer, “but a lot it was not revolu- The parent company of San- that targeted $450 million, or more, lieves can be reached by focusing tionary, but just evolutionary.” of Cedar Point is dusky’s Cedar Point amusement in adjusted earnings before inter- on the guest experience, advance A big piece of Cedar Fair’s growth park has grown at a steady clip est, taxes, depreciation and amorti- ticket sales, digital technology and strategy hinges on repeat visits and amid a still-challenging economy, zation, or EBITDA, by 2016. But a disciplined approach to big-tick- luring more guests from beyond its bumping up its and unlike its roller coasters, it’s having concluded its fifth record et construction projects. Last year, parks’ immediate markets. At not planning to come to a screech- year in 2014, the company, which Cedar Fair finished the year with Cedar Point, the company’s flag- ing halt after reaching record operates 14 parks in North Ameri- EBITDA of $431 million. ship park, that strategy is particu- growth targets heights. ca, is eyeing an even more ambi- “We had been sitting there think- larly evident in the dramatic, mul- In 2012, the new management tious growth target. ing about what that next generation timillion-dollar makeover of its team at Cedar Fair unveiled a Just recently, the company an- of growth will look like,” said Brian See CEDAR FAIR, page 24 24 7 ALSO INSIDE: EDUCATION NEWSPAPER More high school students are graduating with Entire contents © 2015 74470 83781 college credits in hand ■ Pages 13-21 by Crain Communications Inc. Vol. 36, No. 24 0 PLUS: GIFT GIVING ■ CLASS SNAPSHOTS ■ & MORE 20150615-NEWS--2-NAT-CCI-CL_-- 6/12/2015 12:45 PM Page 1 Small Business Matters i Want more information and resources on this week's topics, ideas and events? Go to www.cose.org/smallbizmatters. PRESENTED BY RNC: Suppliers Get Ready As Cleveland prepares to take center Economic Inclusion, the Hispanic Roundtable ;OL Z\WWSPLY Z\IJVTTP[[LL PU JVUQ\UJ- stage as the host site of the 2016 Republi- and COSE, the group is also collaborating tion with the 2016 Cleveland Host Commit- can National Convention (RNC) in 2016, many with a larger number of organizations with a [LL^PSSOVSK[OLÄYZ[VMZL]LYHSWSHUULK Northeast Ohio businesses and organizations reach to small, local businesses. RNC Supplier Forums on Wednesday, June HYLSVVRPUN[VPKLU[PM`^H`Z[OL`JHUILULÄ[ Along with delegates, politicians and 24. The Forum will begin with Diane Down- June 15 from the anticipated $100 million direct spend other political insiders, the convention is ing, the newly named COO of the Cleveland resulting from the week-long event. expected to draw representatives from 2016 Host Committee providing an overview >OPSLP[»Z[V\NO[VWYVQLJ[[OLL_HJ[LJV- hundreds of large corporations to attend HUKWYVNYLZZVMWSHUUPUNLɈVY[ZMVY[OL95* nomic impact the event will have on the re- and host events during the convention. In Additionally, the forum will help suppliers un- By The Numbers gion, the Cleveland 2016 Host Committee is addition, more than 15,000 members of the derstand ways to gain visibility with buyers currently working to create tools to help local media will set-up temporary residence here for the convention. International Trade suppliers be more visible to the potential buy- to report on every aspect of the convention “There are myths and realities about the ers of services related to convention activity. to the world. “With more than 130 categories JVU]LU[PVU ÅVH[PUN HYV\UK V\[ [OLYL HUK A small sub-committee has been created to of vendors, there is an opportunity for local it’s important for small business owners to 16,345 ensure all types of businesses and organiza- businesses to take advantage of the needs understand the process of identifying them- Ohio Companies Exported Goods in 2012 tions are represented on the supplier lists, of the convention and the dollars that will selves as potential suppliers to the conven- including small and minority businesses. Co- ILZWLU[ [VW\SS VɈ [OL L]LU[¹ ZH`Z :[L]L tion and how to be ready and able to respond chaired by leaders of GCP’s Commission on Millard, executive director of COSE. PMHUK^OLU[OL`HYLJHSSLKVU¹ZHPK4PSSHYK 89% RNC SUPPLIER FORUM ZHUHVPDOOðUPVJHQHUDWLQJQHDUO\ Find out how to get listed as a potential supplier to the 2016 Republican National Convention. JUNE 24 3:30 – 4:30 p.m. l The Renaissance Hotel, Cleveland Cost: Free 25% of the state’s total known export value SOURCE: SMALL BUSINESS ADMINISTRATION 52 TIPS FOR YOUR BUSINESS SMALL BUSINESS PROFILE, ITA #24 – Business Development is Not Sales Connection Calendar TECH GROWTH: More and more often today, Business De- terly or yearly sales goals to ensure and mea- LESSONS FROM THE DEAL velopment and Sales are terms that are used sure progress. “The strategic planning process Cleveland’s own OverDrive, Inc. recently sold interchangeably. However, there is an impor- will help you identify what products to sell and for more than $400 million, a fantastic success tant distinction between the two. “There is a ^OV[VZLSS[OLT[V¹ZH`Z4H`LY ¸:LSSPUNYL- by any measure. CEO/Founder Steve Potash M\UKHTLU[HSKPɈLYLUJLIL[^LLUI\ZPULZZKL- ally starts with knowing where value is created. shares inside details on the company’s early velopment and sales and it is called leverage (ZR`V\YZLSM º>OH[ JHU 0KV[V ÄUK TVYLVM days, growth and lessons learned from the very fruitful selling of the company. HUK ]HS\L NLULYH[PVU¹ ZH`Z 1VL 4H`LY JV those people in that market niche which cre- founder and managing partner of Mayer Busi- ates value by buying high-margin products or JUNE 18 ness Group, an executive coaching and busi- services from my company?’ The last thing 11:30 AM - 1 PM ness consulting group in Solon. “Sales is an you want to do is sell more of a product that Lockkeepers, Valley View activity focused almost exclusively on driving KVLZU»[JYLH[LZ\ɉJPLU[THYNPUZ¹ revenue; business development is more stra- “The biggest mistake by far that I see busi- Cost: OHTec and COSE members $25; tegic, big picture thinking such as developing ness owners make is not knowing their num- non-members $40 HUL^JOHUULSVYWHY[ULYZ[YH[LN`¹ bers. Nine out of 10 owners, if asked, cannot Register today at www.cose.org/events. In general, business development will iden- Joe Mayer, [LSS`V\^OH[[OLPYWYVÄ[THYNPUZHYLVU[OLPY COSE EDUCATION SESSION: tify strategies that create leverage for growth Mayer Business Group products or which of their customers creates PEOPLE AND BOARDS by enhancing the product and service line-up value for them. If you don’t know these num- Experience the power of connecting to and sales strategies. “Unlike larger companies portunities in front of them, small businesses bers you are basing your strategy and sales other business owners who have walked in that undergo strategic planning initiatives to JHUOH]LKPɈLYLU[NVHSZH`LHY ;OL`JHU goals on faulty information and you are making your shoes. COSE’s experienced Strategic develop a few key goals for the year, smaller quickly lose sight of the big picture, and that’s KLJPZPVUZPU[OLKHYR¹ZH`Z4H`LY Planning Course (SPC) alumni will host this businesses don’t have a GPS system that tells where a business development plan can make i Want more tips on ways to increase session on the importance of people and [OLT^OLYL[VNV¹ZH`Z4H`LY¸>OLUHUVW- HO\NLPTWHJ[¹ZH`Z4H`LY sales? Check out COSE’s WebEd IVHYKZPU`V\YI\ZPULZZHUKVɈLYQ\Z[HZTHSS WVY[\UP[` HYPZLZ [OL` Q\TW VU P[ UV TH[[LY PM Mayer recommends taking a step back and Series: How to Jump Start Sales in sample of SPC course content. Learn how it leads them in the right direction for growth. creating a plan on how you want to develop 90 Days on July 28. Find out more each business owner made big strategic By responding daily to the immediate op- your business as well as setting concrete quar- information at www.cose.org/events. changes to enhance their growth. JUNE 30 8 - 10 AM *6:,6ɉJLZ*SL]LSHUK Cost: Free Reserve your seat at www.cose.org/events. In today’s fast-changing and unpredictable world, the tried-and-true formulas for success 2015 SHOWCASE IN THE CIRCLE are disintegrating. Join keynote speaker AND SMALL BUSINESS AWARDS Frans Johansson as he makes a compelling Keynote Speaker David Gilbert, president and case for why embracing unpredictability is the CEO of the Greater Cleveland Sports Commission key to standing apart and outlines eye-opening and Destination Cleveland, headlines this Uptown steps that every organization, team and Business Association awards ceremony. LQGLYLGXDOFDQXVHWRÀQGFUHDWHDQGOHYHUDJH “click moments” into a winning strategy. JULY 8 8 - 10 AM June 24, 2015, 5:30 - 8:00 p.m. Tinkham Veale University Center, CWRU Renaissance Cleveland 24 Public Square, Cleveland, OH 44113 Cost: Free Reserve your seat at Register now at www.cose.org/thinkspot www.universitycircle.org/event/showcase2015. Check out www.cose.org/events CONTENT PROVIDED AND PAID FOR BY THE COUNCIL OF SMALLER ENTERPRISES for all the latest happenings.
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