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W W W. M A I N E B I Z . B I Z 29 J U N E 2 8 , 2 0 2 1 FA M I LY - OW N E D B U S I N E S S JV: Start the conversation early and have a vision where you want to go. It's definitely a challenge. MB: What about the emotional element? JV: My father and uncle always worked to make sure there wasn't con- flict: ey've worked very hard at their relationship. ey were fair with each other, everything was transparent. My father and I might have butt heads a little bit, but we were both trying to achieve a common goal. We compromised. My father was very good at letting me make mistakes and learn and have successes. MB: How do you ensure non-family employees feel included? JV: We've been working on our culture. We had a consultant come in and look at how we do business and help us get to the future. We've worked on includ- ing and elevating our employees. Working with a leadership coach Chalmers Insurance Group was founded in 1857 by George Wight in Bridgton. Today, Dottie Chalmers Cutter, vice president of operations, and Jim Chalmers, vice president of sales, are fourth-generation owners. Mainebiz: How do mixed genera- tions incorporate new ideas without conflict? Dottie Chalmers Cutter: We work with a leadership coach who has taught us productive ways to work through challenges. We have learned that staying humble, expressing grati- tude often and setting clear goals has allowed us to thrive. MB: What's your approach to succes- sion planning? DCC: Setting up systems and sharing knowledge is one of the best ways to ensure success for future generations. In addition, when it's time for a new gen- eration to take over, we practice what we call 'sitting in the balcony.' e former generation is there for guidance, but no longer in the daily operational weeds. Communicating through every crisis Grasshopper Shop of Rockland is owned by Sierra Dietz, the daughter of Johanna Strassberg and Ken Schweikert, who founded the company in 1975. Dietz grew up in the business, worked retail in Boston after college, then returned to Maine in 2000 to help her parents. Johanna became the owner of the Rockland outlet; when she retired, Sierra bought it. Johanna stays on part-time. Mainebiz: What did you bring to the business? Sierra Dietz: e biggest change was putting in a computerized inven- tory system at point of sale. at was something my parents never had. ey were somewhat reluctant to go that route. I presented the costs and benefits, and they said, 'Yes, we can give this a try.' Now, both would say, 'Definitely, that's the way to go.' Also, I went about writing things out in a procedures manual to create more robust training. ey were more 'fly by the seat of your pants.' MB: What strategies do you have for working with a parent? SD: I think we work best together when it's not full-time. Sometimes we butt heads a little about how to do things. We've worked on that over the last 10 years. Communication is key. And being clear that it's my store and I'm the one making the decisions. MB: How did your mother transition the Rockland store to you? SD: We sat down with our accoun- tant and talked through what kind of structure would make sense for a buyout. It was helpful to bring in a neutral third party. It took place over a couple of years. e hard- est part was coming to an agree- ment on value and an appropriate price. Once we came to that point through a third–party mediator, she was willing to finance it. We created a payment schedule. If she had sold the business to a third party, she might have wanted more for the name, versus selling it to your kid. I think that changes the dynamic. But she also wanted to maximize her retirement. I wanted to treat her fairly and I also wanted it to be a number that was financially feasible for me. MB: Why was taking over the shop important to you? SD: I think it's amazing that they started this business 46 years ago, from nothing. I want to see it continue. Laurie Schreiber, Mainebiz senior writer, can be reached at lschreiber @ mainebiz.biz Portland | Kennebunk www.perkinsthompson.com At Perkins Thompson, we understand the unique challenge family businesses face. For generations, we have advised family businesses on strategies to realize their vision, protect their livelihood, and plan for the future. Let our attorneys put 150 years of experience to work for your family. P H O T O / C O U R T E S Y O F T H E G R A S S H O P P E R S H O P Sierra Dietz, seen with her mother Johanna Strassberg, is the second- generation owner of the Grasshopper Shop of Rockland. Communication is key to operating a business with family members, Dietz says F O C U S

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