Reinventing A Family
by Kitty Axelson-Berry
Tyler Young carries on the tradition of reinventing a family business in step with the times.
When Tyler Young was a 27-year-old junior account executive at an Atlanta ad agency, his dad called and asked him to come back and get into the family business. Tyler and his wife liked it in Atlanta but said OK. That was in 1987.
The day after they arrived back home in Springfield, Tyler’s 66-year-old father passed away. Three years later, Tyler became president and CEO of W.F. Young, which manufactured Absorbine and Absorbine Jr. Five years later, a thorough evaluation of the company resulted in a major step: After 104 years in manufacturing, W.F. Young moved away from manufacturing its products and refocused its efforts to their marketing. More…
For Couples Working Together,
Setting Ground Rules is a Must
by Carol Sorgen
You married your beloved for better or for worse, in sickness and in health, for richer or for poorer. But for profit or for loss?If you’re in business together, that’s about the size of it.
Take David and Sharon Nevins, for instance.
David Nevins credits much of Owings Mills-based Nevins and Associates’ success to his wife.Sharon Nevins joined the 10-year-old public relations, marketing, advertising and customer service firm two years ago and started the company’s advertising division. But David Nevins, whose firm had capitalized local billings of $6 million last year, admits the partnership–the business one–isn’t necessarily a “forever” thing.”It’s advantageous now, but we have no long-term plans,” he says. More…