Bizjan2016 final by BizNOW Magazine LLC

Vol. 6 Issue 1 January 2016

get inspired

NOW

inspiring the creative spirit in every business leader

Dr. Tendler:

Dr. Tendler: Beautiful Skin: Yourit! BEST Get It, Put Keep Face Forward 5 Tips for Healthy Winter Skin

1099s:

How to Stay Off the IRS Radar! Rags to Riches: One Manâ&#x20AC;&#x2122;s Story

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Dr. Tendler:ler: Skin: tifulTend BeauDr. BEST Yourit! Keep Get It, Put Forward

Face 5 Tips for Healthy Winter Skin

1099s: to Stay How Off the IRS Radar! RagS TO RichES: One Man’s Story

NEW YEA R

NEW YOU

About this Issue: January brings us new hope, new plans and a new you with resolutions galore! Our cover model is Dr. Alison Tendler of Artisan 57 Skin and Laser Center. Photo by Wes Eisenhauer. Look and feel your best with Beautiful skin, how to get it and keep it. Move into the New Year and keep your Resolution to get fit and make it stick this year with the team at Koko FitClub. If you are expanding your empire, consider adding rental Real Estate to your portfolio, here are some Tax Advantages of Investing in Rental Real Estate to consider in your evaluation. Tax season is upon us and businesses can Avoid the IRS Radar by filing their 1099s. Maybe you are considering retiring this year but not sure When You Should Take Social Security. Check out the Biz Finance section. Self-improvement begins with The Power of Charm: How to Cultivate Charisma, and perhaps Get your Office Organized (It’s Not Sexy But it Needs to be Done). If you value your employees, encourage them to Bring Their Problems to Work and watch their productivity spike! Here’s to a fabulous and exciting 2016, The Biz team

8 articles 5 B ring your problems to work 6 F iling 1099s: How to Stay off the Radar of the IRS! 8 Beautiful Skin: How to Get it, How to Keep it! 12 T he Power of Charm: How to Cultivate Charisma 14 R ags to Riches Interview with multimillionaire & author Gary Douglas 21 I t’s Not Sexy but it Needs to Be Done: Organize your Office

contents

Photo by Wes Eisenhauer

Vol. 6 Issue 1 January 2016

get inspired

22 Fitness Resolutions: How to Make Them Stick 24 Tax Benefits of Rental Real Estate 26 Balancing Work and Home Life 28 When Should You Take Social Security? 29 Animal Disease Research: Vital to the Midwest 30 Medicine for the Modern Age 33 Biz Spiritual

26 REGULAR FEATURES Biz Ag 29 Biz Editor Note 4 Biz Experts 18 Biz Finance 28 Biz Health 8, 22 Biz Legal 6 Biz Real Estate 24 Biz Spiritual 33 What's NOW 34

January 2016 | BizNOWmagazine.com | 3

NOW

from the EDITOR

Hanging on with

Hope and a Plan Ok, it’s 2016. Maybe you’re not where you thought you’d be. The business is in serious trouble. A relationship ended. And the goals you started out to attain with such enthusiasm you’ve now long abandoned. About 50% of businesses fail in the first year. Half of all marriages end in divorce. And only 8% of people achieve their New Year’s Resolutions.

Pain is real but so is hope. People can succeed

against all odds. You can’t hang around a positive person without that energy rubbing off on you. And if you’re not that positive person right now, you can become that person once again. You can get the passion back.

The true entrepreneur never quits. Against all

odds, you walk that trail of fear. And tread on. And you cling to that small sliver of hope that you will find a better way. The strength of the human spirit is undefeatable.

So if you’re feeling stuck or hopeless, take heart, you are not alone. Albert Einstein didn’t talk until he was four, confounding his teachers, yet he developed the theory of relativity. Movie star Jim Carrey was once homeless. Ben Franklin dropped out of school at age 10. His parents couldn’t afford school, but he went on to become one of America’s Founding Fathers. Richard Branson has dyslexia, yet he became an entrepreneur and is one of the wealthiest people in the world. Stephen King’s first novel was rejected 30 times. In fact, he threw his first book straight in the trash. His book sales have now topped 350 million copies. Oprah Winfrey had a baby at age 14. The baby died. She was molested by relatives, and ran away from home. Yet her tragic past didn’t stop her from becoming a world influencer and amassing a net worth of nearly $3 billion. Jay Z couldn’t get signed to a record label. So he created his own music powerhouse. Never give up. With hope and a plan you can change your Destiny.

Publisher BizNOW Magazine, LLC. Editor Charlotte Hofer 605-376-3758 char@biznowmagazine.com Design Director/ Senior Creative Ally Vogel 605-759-5615 ally@allysart.com Director of Marketing Tim Cummiskey 605-366-1489 tim@biznowmagazine.com Director of Business Development Alan Dooley 845-235-5381 Contributing Photographer Wes Eisenhauer Reproduction or use of the contents of this magazine is prohibited. BizNOW Magazine is published monthly by BizNOW Magazine, LLC and strives to publish only accurate information, however BizNOW Magazine, LLC cannot be held responsible for consequences resulting from errors or omissions. All material in this magazine is the property of BizNOW Magazine, LLC and cannot be reproduced without permission of the publisher. Send magazine feedback and advertising and sales inquiries to tim@biznowmagazine.com ©2016 BizNOW Magazine, LLC All Rights Reserved.

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Charlotte Hofer

4 | BizNOWmagazine.com | January 2016

Publisher/Editor

@BizNowMagazine for news that affects the Sioux Empire business community

Smart BIZ

by Gabriel Bristol

Bring Your Problems to Work

On average, employers lose $225 billion worth of productivity per year due to the personal issues of their employees.

Tips for Increasing Productivity

At some point during the course of your career, you may have heard or been told, “Leave your personal problems at the door." New evidence from scientific studies suggests that this supposedly sage advice handed down by executives, leaders, and HR departments across the globe is simply misguided and wrong.

What if one of our main goals as leaders was to show our employees that we truly value them as people and not just commodities?

The link between stress and mental health is undeniable. The more stress someone experiences, the more prone they are to suffer mental and emotional consequences. Not surprisingly, those consequences can affect your company’s bottom line.

What advice or directive would we in turn give them if we noticed that they were under some sort of emotional duress or just having a plain old bad day?

According to a study published in the Journal of the American Medical Association on workplace productivity, employers lose an average of $225 billion worth of productivity per year due to the personal issues of their employees. In addition, the U.S. Surgeon General issued a report showing the indirect costs of untreated mental health disorders results in a $79 billion annual loss to companies because of lost productivity and absenteeism.

Those are powerful numbers and although the intent of the “don’t bring home to work” advice is to ensure a harmonious environment and a productive thus profitable company, it’s clearly having the opposite effect. When a business truly values its employees and see them as partners in the company’s success, and not simply a “resource”, productivity and morale increases. The underlying message when being told to “leave your personal problems at home” is that you should simply turn off your emotions when you come into the office. This would be fine if we were robots but we are not. We are living, breathing beings with true and complicated emotions. Not acknowledging this indisputable fact comes across as callous and unaware.

Jennifer Borba von Stauffenberg owns a PR Firm in San Diego and encourages her employees who have occasional life challenges to be “authentic” in the workplace and share any personal challenges to the degree that is comfortable for them. She treats them with respect by giving them the time they need to regroup — whether it be a few minutes or the remainder of the day. This philosophy pays dividends by cultivating employees who are loyal, motivated, and regularly give 110% to the firm’s many clients. We spend as many if not more of our waking hours with our co-workers than our respective families. Given this, it is not at all unnatural or wrong to occasionally confide in a co-worker or to take a moment or two to acknowledge your feelings and regroup before plunging back into daily tasks. Acknowledging that our employees are not just a means to an end and treating them with empathy and respect will foster a more engaged workforce. In turn, this will have positive reverberations across your entire team, department, and company. u Gabriel Bristol, President and CEO of Intelicare Direct, has led turnarounds for several large corporations as well as helping to establish rapidly growing start-ups. @Gabriel_Bristol

January 2016 | BizNOWmagazine.com | 5

BIZ Legal

by Biz Staff

Filing 1099s:

How to Stay off the IRS Radar

When it comes to government regulations, as a rule, rules change. As a business owner or head of a non-profit, you are required to know when and to whom to issue a 1099. Even if you outsource the whole project, you need to know the basics. While a W-2 form is used to report wages paid to employees, there are a handful of 1099 forms for a business to report other types of non-employee income to the IRS, with the most common being the1099-MISC. • Payments for merchandise, telegrams, telephone, freight, According to the IRS 1099-MISC instructions (www.irs.gov/ storage, and similar items. pub) you must issue a 1099 to each person to whom you have paid at least $10 in royalties or broker payments in lieu of dividends or tax-exempt interest. Also, anyone (individual, • Payments of rent to real estate agents. But the real estate partnership, Limited Liability Company, Limited Partnership agent must issue a 1099-MISC to report the rent paid to the or Estate) to whom you paid $600 or more in rents, or services property owner. performed by someone who is not your employee. This includes you attorney, prizes and awards, medical • Payments to a tax-exempt organization and health care payments, crop insurance including tax-exempt trusts (IRAs, proceeds, cash payments for fish or fishing boat HSAs, Archer MSAs, and Coverdel Before you pay any proceeds, and cash paid to a partnership or ESA). vendor you expect to pay estate. In addition, use Form 1099-MISC to report that you made direct sales of at least $5,000 of consumer products to a buyer for resale anywhere other than a permanent retail establishment. And if you withheld any federal income tax under the backup withholding rules, issue a 1099.

more than $600 to over the year, have them fill out a Form W-9, Request for Taxpayer Identification Number and Certification.

You don't need to issue 1099s for payments made for personal purposes, only for payments you made in the course of your trade or business. As a general rule, any payee that falls into one of the above categories and doesn’t have “Inc.” or “Corp.” at the end of its business name should be issued a 1099.

Some Exceptions.

• P ayments to a corporation, including a limited liability company (LLC) that is treated as a C or S Corporation). A single-member or multi-member LLC not registered as C or S Corporation would be issued a 1099. 6 | BizNOWmagazine.com | January 2016

The W-9 is your friend.

Before you pay any vendor you expect to pay more than $600 to over the year, have the entity fill out a Form W-9, Request for Taxpayer Identification Number and Certification. The W-9 will capture the recipient’s legal name, address and Taxpayer Identification Number (TIN). This simple, proactive step pulls together the information you need to prepare your 1099s by January 31.

What are the penalities?

The penalties for not filing can vary from $30 to $100 per form, depending on how long past the deadline the company issues the form. If a business intentionally disregards the requirement to provide a correct payee statement, it is subject to a minimum penalty of $250 per statement, with no maximum. u

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BIZ Health by Natalie Miller

Gorgeous Skin How to Get it, How to Keep it

r. Alison Tendler believes the goal is not to try to look 20 years younger, but to look your best, at every age. Validating that thought is her patient Lori Williams, a hair salon owner in Sioux Falls. Lori views herself as a role model when it comes to the ways in which a person can enhance their appearance to increase self-confidence. “I don’t mind aging,” clarifies Lori. “But taking care of my appearance is just one of those things that makes me feel better.” Today, cosmetic procedures are becoming more and more common. While some skin care can be done at home, the options offered that go above and beyond what you can do yourself take an experienced doctor, often an artisan.

Photo by Wes Eisenhauer

On the job, beauty is more than just skin deep. Because good-looking people charm interviewers, get hired quicker, tend to make more sales and they get more raises. So it just makes sense to use every advantage at your disposal – and that includes doing what you can to have a fresh, attractive look.

continued... January 2016 | BizNOWmagazine.com | 9

Photo by Wes Eisenhauer

BIZ Health

An Artisan is a talented craftsman who uses their hands, mind and heart to create an object of beauty. As an ophthalmologist specializing in cataract, refractive and oculoplastic surgeries at Vance Thompson Vision as well as an artisan at Artisan 57 Skin and Laser Center in Sioux Falls, Dr. Alison Tendler has an artistic approach to skin care. She wants to help patients see, look, and feel their best. “Skincare is an art and my clients are a canvas of possibilities,” says Dr. Tendler. “And like any cherished piece of art, their skin requires various levels of preservation, restoration and creation.” The goal for good skincare should be to renew and maintain healthy skin, especially around the face and eyes where signs of aging are the most prominent. Each person has unique needs and every potential treatment can be viewed an opportunity to enhance the artwork known as self. Lori Williams pairs her laser treatments with at-home care, which, according to Dr. Tendler, is essential in maintaining healthy, beautiful skin. Dr. Tendler compares skincare to fitness in that both require a commitment in order to see positive results. As someone who is adamant about taking care of herself, Dr. Tendler says that this mindset naturally crosses over to skincare. “You have to change your habits on how you

10 | BizNOWmagazine.com | January 2016

think about and take care of your skin,” she says. “Skincare is a marathon; it’s not a sprint.” One of the newest laser treatments, known as the HALO™ Hybrid Fractional Laser, targets skin damage to restore the skin’s natural glow. “An advantage of this treatment is that it reduces downtime,” says Dr. Tendler. There is a tendency to view laser treatments as a one-time solution in obtaining healthy, glowing skin. Though a single treatment will produce results, they will be more dramatic if done regularly and paired with a day-to day skin care regimen. “That combination of a daily skincare regimen and laser treatments will give clients the best results,” says Dr. Tendler. Whether you opt for laser treatments, facials or just want a better skin care routine, the new procedures can help you achieve a fresher look. And that can make you more confident and help you get ahead. “We know that no two skin-care journeys are the same when it comes to creating, restoring, or maintaining healthy skin,” says Dr. Tendler. u Natalie Miller is a freelance writer and student at the University of Sioux Falls.

3 Tips for Healthy Winter Skin 1. Moisturize More In winter, try switching to a moisturizer that’s oil-based rather than water-based, as the oil will create a protective layer on the skin that seals in more moisture than a cream or lotion. Choose a smart formula that has natural, nourishing ingredients. (Hint: Often lotions labeled as Night creams are oil-based) Look for “non-clogging” oils like avocado oil, primrose oil, almond oil, or lotions containing “humectants” that attract moisture to your skin.

3. Don’t Neglect your Hands

Skin on the hands is thinner than many parts of the body and has fewer oil glands. That means your hands need special attention in winter to keep them moist. Itchy skin and cracking are common in winter; be sure to moisturize often and use gloves when outside. (Hint: some people with severe dry skin have found that using Vaseline helps to 2. Use Sunscreen protect their hands.) It’s not just for summer. Winter sun can also damage your skin. Slather on sunscreen about a half hour before you go outside. Use SPF of 15 or higher.

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Come experience the Halo in 2016 and discover a whole new you. Artisan 57 is proud to introduce the Halo™ Hybrid Fractional Laser. The Halo targets precisely the right depth of your skin damage to restore that luminous glow. Maximize your results with minimal downtime. Call to schedule a complimentary skin consultation at Artisan 57.

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January 2016 | BizNOWmagazine.com | 11

Smart BIZ by Biz Staff

Charm

The POWER OF

How to Cultivate Charisma Some people can instantly make us feel special. They light up a room when they walk in. Charisma may be hard to define, but you know it when you see it. Whether you’re out networking or at the office, here are 10 things to keep in mind that will help you become more charismatic: 1. Smile, be Confident

Like yourself. It’s much easier for others to like you if you like yourself. Be optimistic. Be enthusiastic. Be consistent.

Don’t: Discuss all your issues. We all have problems, save it for close friends and family.

2. Speak with Conviction

Use words like “I am sure” vs. tentative words like “I think, I feel.” Be relevant. Know what’s happening in the world and around you. People want to be with people who are aware.

Don’t: Overpower the person you’re talking with; let them express their opinions too

3. Monitor your Body Language

Be open and approachable. Gracious and graceful. When you meet someone new, smile, make eye contact, shake hands. Introduce yourself by saying your name, “Hi, I’m Ann, Ann Roberts.” That way people hear your voice twice.

Don’t: Overdo it. When you smile, be authentic. If your

smile is not in your eyes, people will know you’re faking it.

5. Listen More, Talk Less

You can’t remember everything, but remembering someone’s name is important. Here’s a Dale Carnegie trick: When introduced to a person, immediately repeat their name. Example: “Peter, it’s so nice to meet you.” You know your perspective and point of view. But you don't know what other people know, and that makes them the most important person at the moment. Listen with interest, learn. Pay attention. Engage.

Don’t: Offer advice unless asked. When talking with

someone at an event, do not look around to see who else is there. If you want to find someone else, make the conversation brief and move on graciously.

6. Choose your words.

The words you use impact yourself and the attitude of others. For example, you don't have to go to the gym; you get to work out and improve your health and fitness. You don't have to interview job candidates; you get to select a great person to join your team.

Don’t: Use negative or derogatory words.

4. Make The Conversation about Them

Let the world revolve around the person you’re talking to. Help them feel special in the moment. It will immediately put them at ease and draw them to you.

Don’t:: Let your ego drive the conversation. 12 | BizNOWmagazine.com | January 2016

7. Put the Technology Away

You can never connect with others if you're busy connecting with your stuff, too. Give them your full attention. That gift alone will make others want to be around you and remember you.

Don’t: Check your texts. Don't focus on anything else, even for a moment.

8. G ive before you receive - and you may never receive.

Focus on what you can provide. Giving is the only way to establish a real connection and relationship. Even if this person doesn’t reciprocate, down the road someone will.

Don’t: Focus on what you can get out of the other person, no

one wants to feel the only reason someone is talking to them is because they want something.

9. Shine the spotlight on others.

Ask people about their accomplishments. Celebrate other’s successes. Ask them why they think that project went so well, how they connected with the right people to accomplish it, if they can share a best practice. Who knows? By taking a sincere interest, you might learn something that can help you with your next project. They might even offer to connect you with someone they know. When you celebrate others and make them feel important, it always comes back to you.

Don’t: Interrupt them with your own accomplishments. 10. Don't discuss the failings of others...

No one respects the people who dish the dirt, for we could be next...But be charitable toward others. You don't have to be incredibly successful to be remarkably charismatic. But you do have to be incredibly genuine to be remarkably charismatic. Be humble. Ask questions, offer to help, exhibit good humor, and have a good time. People will gravitate toward you. u

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January 2016 | BizNOWmagazine.com | 13

It doesn’t matter where you go, people who have $10 or $10 million dollars still have the same point of view about scarcity and money, that is why I say “money Isn’t the problem, you are.” – Gary Douglas

14 | BizNOWmagazine.com | January 2016

BIZ Interview

From Rags to Riches!

Photo by Brandon Lane

Interview by Charlotte Hofer

Interview with mogul Gary Douglas

For many people, business is a hard, ruthless game. The word capitalism rarely conjures up images of kindness or goodwill. Gary Douglas believes it's not only possible, but easy, to run a business that increases your wealth and contributes to society at the same time. Welcome to Benevolent Capitalism. Today Gary owns and operates several successful companies, including Access Consciousness, a multi-million dollar business. His business principles are practiced in 173 countries around the world. Gary, at one point you were surviving on cornflakes and milk. Describe the pivotal moment where you figured out how to create wealth?

“How does it get even better than this?” is a question that if you put it out to the universe will show you how it gets better. A question opens the door to greater possibility.

You went bankrupt 3 times. Most people would have quit. What made you keep going?

One story I can share is a woman who had come to one of my seminars in New York and when she walked out of the seminar she found a dime on the floor. She said, “How does it get even better than this?” She took the elevator downstairs and found a $10 bill lying there. She said, “How does it get even better than this?” Because she found a ten-dollar bill, she took a taxi home that day instead of the subway.

Being at the bottom just meant I had to start over. Realize there is no such thing as a bottom. Ask yourself, “Where do I need to go today?" Get up in the morning and just start from that and then you can create anything you desire.

I had a family that was counting on me and that I had to provide for. The premise I live by is, “Never give up, never give in, never quit.”

Yes I would tell them to change their attitude.

continued...

If someone is broke, unemployed, hungry, would you still tell them to just change their attitude?

The taxi dropped her off at her front door, instead of the back where she normally would have entered. As she got out of the taxi, she spotted a diamond bracelet glittering in the gutter! Instead of asking how it gets any better, at that point she exclaimed, “It doesn’t get any better than that!” And that’s when her “luck” stopped!

January 2016 | BizNOWmagazine.com | 15

BIZ Interview

Photo by Brandon Lane

You never know what can happen and what the universe may have in store for you until you ask the question. By asking how it gets even better your mind opens up possibilities and you see opportunities you never saw before.

“Money isn’t the problem – we are.” What did you mean by that?

We create all the limitation in our life. If you say, I can’t have that or I can’t be that - then you can’t. If you say, “How do I do it?” or “What else can I achieve?” then everything becomes possible. Money is never the problem. Your attitude determines what you can achieve. It is always about what you are willing to create, generate or choose in life. My point is, if you really want to achieve something, you ask, where can I find the money.

everything that you make that comes into your life and don’t spend it. Within 6 months to a year, this starts to change your whole financial reality.

What is “benevolent capitalism” and why is it important?

“Benevolent” comes from ancient Latin and means “to wish well.” “Capitalism” originally meant organic growth of existing wealth – which could be money, resources, or even people. With benevolent capitalism, the other person benefits too as we generate wealth ourselves. If we did things from the point of view of doing the best we could for everybody, a greater world would occur.

Ask yourself some questions: what can I do today that will create a different outcome immediately? What can I do to make life better for myself and others?

Can you give an example of how a successful company is practicing benevolent capitalism?

A great example is the ThankYou Water company. Australians were spending How can someone raised $600 million annually on with a “scarcity” mentality – Gary Douglas bottled water, yet 900 million learn to have a “prosperity” people on our planet cannot get outlook? It doesn’t access to clean water. Their first matter where you go, iteration of ‘ThankYou’ was to create a people who have $10 or bottled water company whose profits would $10 million dollars still have fund safe water projects in developing nations. the same point of view about scarcity This has now morphed into a wider range of consumer and money, that is why I say “money products. However, they are an example of a business Isn’t the problem, you are.” that trades successfully, as well as makes a difference in the world. It is your point of view that creates it. First of all, if you want to create a prosperity outlook you have to look around and see how you want to live. I have had rich and poor friends, and they are both concerned about a better lifestyle. Look at what you really want to create in your life, that is how you will create the future that will give you everything you desire. The first thing I tell everyone to do is to start putting away 10% of 16 | BizNOWmagazine.com | January 2016

Businesses must measure their success not only by their financial performance but also on how they are being a contribution to society and the world, as well as by the impact on the environment and on the society in which they operate.

Can you really win at business if you’re trying to help others? Doesn’t it hurt the bottom line?

It doesn’t hurt the bottom line because one of the things Benevolent Capitalism would do is to look for the greatest cause of consciousness. If people become more consciousness, they take less time off. They need less time off. They produce more and use half the amount of effort to create twice the results. If they were paid equal

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Asking questions. When you ask a question, your mind empowers the universe to give you an answer. When you come up with an answer all you can do is prove your rightness of your point of view by taking in the information that matches your answer. No additional information is added to an answer. All additional information and possibilities are created by a question. A question opens the door to greater possibility.

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BIZ Experts

Expert ADVICE ...on topics

Business

Are you doing too much? Don’t pass over the dollars to pick up the dimes. If you’re having trouble making your business profitable, take a minute to list the tasks you and your staff perform. Are they necessary for you to do, or should they be outsourced or delegated? When you focus your energy on the core of your business that makes money instead of the activities that someone else can do, then you will start to see greater profitability. From property management to accounting or web maintenance to making deliveries, these are functions within your business that should not take up your time – hire an expert in that field so you can make the next deal or be inventive or work on the creative aspect of your business. By saving a few bucks doing these chores, you are ‘picking up the dimes’, but you forfeit that exact same time that could be making you the bigger dollars. This is lost opportunity and is probably costing you thousands.

Banking

What is Cash Management, and what can your financial institution’s cash management tools do for your company? Cash Management is essentially the collection, management and short-term investment of cash. As a business owner, it’s important to maintain a healthy balance between the need to improve cash flow, accelerate receivables, and keep your funds secure. Implementing a successful cash management system makes it easier for your business to grow, as well as survive troubled times. A financial institution’s Mobile Banking, Bill Pay and other low-cost account tools help make daily money management easy, mobile and convenient – freeing up precious time and resources. Other tools, such as Merchant Card Services and Direct Deposit help your business establish control over payments, increase forecasting capabilities, quickly process receivables, and reduce risk. Contact your business banker to discuss how your company can benefit from effective cash management tools.

at Your service. at Your side.

Insurance

When should you throw in the towel? Never say never and don't throw in the towel. That’s true in insurance and in every other business. Do you know who lives that every day on the job? A good bird dog. We could learn a lot from the energy, determination and spirit of man's best friend when he’s on a hunt. He follows every lead, checks out every clump of grass, and doesn’t give up until he flushes out a pheasant. When everyone around you has thrown in the towel, and your colleagues are telling you "it will never work", be like man’s best friend. Keep your nose to ground, follow your instincts, and chances are that those same people will look on in amazement when you succeed. Remember, a good bird dog isn't done until they're back in the truck, and you should not quit until you have accomplished your task or goal.

Fischer, Rounds & Associates, Inc. is an independent insurance agency with a broad range of personal, commercial, health and life insurance products. call us in siOuX Falls

NOW

1101 W Russell Street • Sioux Falls, SD 57101 Phone: 605-336-4444 • Toll Free: 877-789-3773 • Fax: 605-274-9034

Offices alsoHofer in Mitchell • Pierre • Rapid City • Watertown Randy Snyders Charlotte

Editor (605) 376-3758 char@biznowmagazine.com 18 | BizNOWmagazine.com | January 2016

rsnyders@bankmidwest.com (605) 275-9559 www.BankMidwest.com

www.FischerRounds.com Jeff Pray, CPCU RPLU CIC

(605)336-4444 JPray@fischerrounds.com www.fischerrounds.com

s that matter to you Human Resources

What is the cost of a bad hire? According to Harvard Business Review as much as 80% of employee turnover is due to bad hiring decisions. Other survey results show these statistics: • Two thirds of employers say bad hires negatively affected business results in the past year • 40% reported lost time due to recruiting and training a replacement for a bad hire The U.S. Department of Labor estimates the average cost of a poor hiring decision can equal 30% of that hire’s first year earnings. In addition, employers spend an average of $7,000 in advertising and recruiting costs to replace an entry level employee, $10,000 to replace a mid-level, and $40,000 or more to replace a senior executive. To reduce these costs, many companies are taking the guesswork out of the hiring process with a science-based, predictive assessment tool for selecting and placing people in the roles for which they are most naturally suited to succeed.

Business Analytics

Why do Business Analytics matter? A business wants to know whether a customer is a good credit risk. A doctor wants to know if a patient is a high risk for a heart attack. A retailer wants to know what brands consumers buy together.

Real Estate

Analytics answers these questions. Powerful computers are available at low cost, and that power is at your fingertips (smart phone use for example). Data on many activities (online browsing, buying, text, email, message postings, etc.) are captured and stored. Analytics uses this data to pull information that predicts who the next buyer is, whether they are a credit risk and if they are in a demographic where your business should focus. Analytics can tell you the best place set up your next store, what promotions to offer, when, and whom to target. These decisions improve your competitive advantage and boost your bottom line—profits. Analytics is a powerful skill set that employers value in the workplace.

University of South Dakota at University Center

M RIGH

I’m thinking of selling my house and buying a different one this year. What are the best steps for me to take?

I recommend a four step process. First, get great clarity about ‘what’s important.’ In other words, why are you moving, what does the new house look like and where will it be? Second, get an assessment of your existing home value and the cost of a new one. Do the numbers work for you financially?

Third, make a plan. Decide if you want to When selling your home, you w sell your house first and then buy one; or, while minimizing inconvenien vice versa. When making a plan, remember to take in to consideration home re-with the insight estate partner conditioning and arrange financing; and, who done are the people you wantright. to helpCall you?the Tony Ratch

proven Dream Home Process

Once the plan is in place, the house has been readied for the market, you know where you are going and how you are going to get there; you can start the process of buying and selling. Be sure to pick an agent who understands your needs and desires and can help you maximize your dreams. David Colleen Sue

Tony

605-359-4 Info@Tony Gayle Ver Hey PI Midwest gverhey@pimidwest.com 605.940.3758

Thomas Tiahrt, BSBA, MA, PhD. Assistant Professor of Decision Sciences Beacom School of Business (605) 677-5290 Thomas.Tiahrt@usd.edu

Your future. No commute required. Capitalize on a quality University of South Dakota

UNIVERSITY CENTER 4801 N. Career Avenue Sioux Falls, SD 57107

Tony Ratchford Tony@tonyratchford.com (605) 336-8866 www.TonyRatchford.com January 2016 | BizNOWmagazine.com | 19

YOU

Need MORE

time

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Hidden Fees in Banking ATM machines are starting to decline in popularity due to high fees. A consumer can face a fee of $4.52 on average per out-of-network ATM withdrawal, according to a Bankrate.com survey released Oct 5, 2015. That's a 21 percent increase in five years and a 4 percent increase in this past year. With an average of $50 per transaction, you are paying over 9% for the privilege of convenience. That can add up to almost $500 a year at two withdraws a week from an out-of-network ATM.

20 | BizNOWmagazine.com | January 2016

! By the numbers • The average U.S. executive wastes six weeks per year searching for missing information in messy desks and files. For an employee earning $60,000 that lost time costs the company a staggering $6,290.

• 80% of papers and

information that we file or keep, we never use or look at again.

• The average worker wastes 2.5 hours a week looking for documents missing in poorly organized electronic files.

• Office workers waste an

average of 40% of their workday. Not because they aren’t smart, but because they were never taught organizing skills to cope with the increasing workloads and demands.

• Sales reps surveyed were

BIZ Feature

by Lisa Soma

It’s Not Sexy But it Needs to be Done:

Organize your Office If you’re not filing daily, be sure to file weekly. If it’s unnecessary to keep,

shred it immediately. Second tip – if you go to an event and get business cards, make a decision within a week – is this person going to fit into my business or life somehow? If so, keep the card and then connect with that person. Otherwise toss the card. Make the decision.

How many business suits does a professional really need? For a business person in the public eye, a month’s worth. A person not in the public eye, 2 weeks worth. Buy multifunctional clothing – a top that goes with several pants. Stick to basic colors, not a lot of prints. Are your clothes in colors that look fabulous on you? If not, get rid of them, and if they are stained or need repair, get them fixed or get rid of them. And stay away from trends. Are men more disorganized or women? Women. Because we take care of ourselves and everyone else. We have too much going on. u

Lisa Soma is owner of Organizing by Lisa. She lives in Sioux Falls with her husband and keeps him organized as well!

most productive when they assigned themselves only 3 tasks per day. It gave them a great sense of accomplishment when they were able to cross off those tasks.

Sources: Wall Street Journal, Agency Sales Magazine, Accountemps

January 2016 | BizNOWmagazine.com | 21

BIZ Health

by Jessica Schaap

Fitness Resolutions How to Make Them Stick

We are programed by society to make a New Year Resolution. Sadly, most of us don’t keep that resolution and easily slide back into our old ways. This is mostly true when it comes to an exercise resolution. Even then, we find ourselves saying, “this year will be different”. How can we make this year different? Here are a few tips to guide you. First, challenge yourself to change your thinking. It is so easy to view exercising

as a chore or a burden. Instead, switch that thought from a burden to an investment. When you invest in your body it pays dividends. The best part is your body says thank you by looking better and feeling better. Its a win win!

22 | BizNOWmagazine.com | January 2016

Next, determine your goals and make them SMART. Use this acronym to help you. S-specific

M-measurable A-attainable R-realistic T-Timely. You need to have a clear understanding of what you want to accomplish. Establishing goals with a coach will help you stay on track and achieve your goals. Speaking of coaches, having a coach or a trainer may get you further than if you do it alone. Interview them. Everyone has different styles and methods of coaching. It is not a one size fits all world! Find that person that you click with. If affording a coach isn’t in the budget, then grab a workout buddy. I have had a workout buddy for years and we help hold each other accountable. Have you ever been at a large mall and you are looking at the map and just need to know where you are? It is the same with exercise. Right here, right now, this is where your body is. You are here. Knowing where you are is more than just height and weight. Establish a base line for your body. You need to know this information so you can track and celebrate change. This data should include: body composition, strength, mobility, flexibility, and balance. You are as old as you are

flexible! An experienced coach can take these measurements, and they should.

Watch out for the land mines! Remember when we

changed our thinking back in the first bullet point? We need to be on the defensive too. Oh that pesky scale! Don’t let it be your sole motivator. It’s not the whole story, especially with weight loss. You will have peaks and valleys. Focus on how you feel, how your clothes fit and your mood. Make sleep a priority too. It’s important – your body does the majority of it’s healing between the hours of 10pm-2am. Don’t miss that window!

Finally, remember to reward yourself along the way. You are working hard and you’re sticking with it! When you achieve a goal, reward yourself with something special. My guilty pleasure is shoes – no matter where I am in my fitness journey, they always fit! u Jessica Schaap is a busy mom, co-owner of Koko FitClub and a Master FitCoach with a great closet of shoes!

Health Insurance Insight #103

Running in heels is a bad idea So this happened …and then you realized your coverage was less than ideal. You don’t need to stick with an old plan that doesn’t fit your needs anymore. In fact, better coverage is less expensive than you’d think, which means you can buy new heels. Avera Health Plans can help you switch to a plan that works for you and help you understand your benefits so the cost of an unexpected doctor visit doesn’t catch you by surprise.

COMPARE AND SAVE ON A PLAN.

or talk to your local agent. AveraHealthPlans.com

15-AVHP-6407

Call us at 605-988-8491

January 2016 | BizNOWmagazine.com | 23

$ $

24 | BizNOWmagazine.com | January 2016

by Alan Dooley

BIZ Real Estate

TAX BENEFITS

of Investing in Rental Real Estate Investing in rental real estate can not only help you build and retain wealth for your retirement and the financial security of your family, it can save you thousands along the road. Whether it is multi-family housing, single units, apartment buildings or commercial property, each offers tax advantages and diversified risk to your portfolio. Larger properties also offer economies of scale and greater demand. Unlike stocks and bonds where your profit margins are constantly undermined by fees, a properly structured deal and entity (LLC, C or S Corp) can offer the following tax advantages on top of solid returns:

Interest - Mortgage interest payments used to buy or

improve a property may be deductible. Even the interest charged on a credit card to pay for goods or services associated with your building may be deducted. A card that offers cash back or points would be a bonus.

Repairs - Tax laws encourage landlords to improve their property by allowing the cost of repairs to be deducted in the year they are incurred. This not only keeps the property in good shape, it could increase the value and potentially the rent for years to come. Insurance - Insurance not only lowers your risk, but the premiums are deductible. Along with general liability and property (fire, theft, flood) insurance, employee health and workers' comp insurance is also deductible.

Casualty and Theft Loss – Damage not covered by insurance such as theft or vandalism may be deductible. Any uncovered damage due to fire, flood, earthquake or other natural disaster is deductible as well. Depreciation – A building is an asset and all assets under

Consult a tax accountant. The end result is an immediate reduction in taxes every year of the schedule.

Retirement Plans – for you or your employees, the money set aside for a SEP, 401(k), matching IRA or other qualified plan can be deducted from current year income. Employees and Independent Contractors - The

costs associated with anyone you pay to perform services for your property, such as a manager, repairman, lawyer, secretary, accountant or other professional, may be deductible as a business expense.

Other – Depending on how your business is structured, you may also be able to deduct local and long distance phone, travel and home office expenses. To fully benefit from the above tax advantages, your corporate structure and each deal or property must be set up and administered properly. If you want a more passive income from investing in real estate you can invest with a partner or set of partners or use the services of a real estate investment professional. Disclaimer: This information is intended for general public knowledge and must not be taken as tax advice which should be tailored to your specific circumstances by an attorney or tax advisor.

NOW

it tive spir the crea leader inspiring business in every

Alan Dooley is CEO of Grathia Corp, a private lending and real estate investment firm. He is a graduate of Rutgers University and serves on the Board of the Lake County Historical Society. He is Business Development Director with BizNOW.

current tax law have depreciation schedules. A property is subject to wear and tear and deterioration when held for several years - so you can claim reductions or depreciation of the value of your building. Depending on how long you plan to keep the building, it can have an accelerated depreciation schedule. ey Al an Do ol

lop me sin es s De ve Dir ec to r, Bu

81 84 5. 23 5. 53 alan@biz

nowmaga

zine.com

January 2016 | BizNOWmagazine.com | 25

Smart BIZ

by Rachel Woodman

Y IL M A F E IF L K R FINDING WO

BALANCE You’ve done it. You found a career or business that excites you. How thrilling it is to wake up each morning looking forward to the daily adventure ahead! But your enthusiasm may not be felt by other family members if you’re too focused on work. Clint Brown, entrepreneur and co-founder of The Bakery, and stay-at-home wife Katie find involving their children in the importance of work to be vital to their learning. Clint shares, “Work is a part of life, and in this season, a big part. We treat it like harvest season. There are times to work hard, and this is one of them. The two oldest children each work one afternoon a week at The Bakery so they have a real sense of the work I am doing.” Elizabeth Carlson, private banker with First Bank and Trust, and traveling-husband Jolin have created a daily routine with

their children to establish their family bonds. Elizabeth shares, “We have FaceTime calls to include Jolin in various activities such as night prayers, school day reviews, and even reading in bed. We have gotten pretty creative and we've even had Jolin on FaceTime to help Ava with her homework.” “Communicate with your partner in a cards-face-up manner,” says Clint. “This means that if you are feeling it and thinking it then share it. Don't create a space where your partner has to figure you out too. They may already be up to their eyeballs figuring out a baby or new business – or both.”

Browns

Clinton, Katie, Claire (10), Miles (9), Amelia (4), and Evelyn (10 Months).

Clint is a serial entrepreneur and cofounder of The Bakery, a coworking community space in Sioux Falls. Katie is a stay-at-home mom and homeschools their children. She also does insurance billing for Wellspring Therapy Center part-time.

26 | BizNOWmagazine.com | January 2016

(605) 370-7489 ivanna@queenlifebydesign.com queenlifebydesign.com

BizNOW

Funnies

Queen Life by Design Reign your life on your terms!

A new small business was opening and a friend of Ivanna the owner wanted to send flowers for Kusijanovic the occasion. Life and Business Coach

They arrived at the new business site and the (605) 370-7489 owner read the card; itivanna@queenlifebydesign.com said “Rest in Peace”. queenlifebydesign.com

The business owner was angry and called the florist to complain.

Carlsons

Jolin, Elizabeth, Ava (8), and Kye (7).

Elizabeth is a private banker. Jolin is a Manager with Deloitte Consulting and works in Houston, Texas Monday through Thursday.

After he had told the florist of the obvious mistake and how angry he was, the florist said:

Queen Life by Design Reign your life on your terms!

“Sir, I’m really sorry for the mistake, but rather than getting angry you should imagine this: somewhere Ivanna Kusijanovic there is a funeral taking placeLife today, and they have and Business Coach flowers with a note saying, “Congratulations on 370-7489 your new location.” -(605) jokes.com

ivanna@queenlifebydesign.com queenlifebydesign.com

Communicating with your support system can be just as important to your busy-family success.

Queen Life by Design

“Don't be afraid to ask for help,” says Elizabeth. “I was getting 4-5 hours of sleep trying to keep up. This year both Ava and Kye had classes on the same night, so my parents take Ava to dance while I go to hockey with Kye.”

Reign your life on your terms!

Ivanna Kusijanovic Life and Business Coach

And try to put the smart phone on silent every once in awhile.

(605) 370-7489 ivanna@queenlifebydesign.com queenlifebydesign.com

“You can't be in two places at once so make sure you are present where you are,” says Elizabeth. “If I am at dance with Ava or hockey with Kye I try to actually WATCH and not be reading emails or dreaming in Pinterest Land!” Navigating between your passions won’t always be smooth so consider seeking a trusted mentor for additional guidance on your journey. Finding Work-Family balance is possible with a little help from your family and support group – so go conquer life’s adventures! u Rachel Woodman is a Market Development Manager for CenturyLink. She manages public relations, marketing, and community outreach efforts for North Dakota, South Dakota, and Nebraska.

Organizing by Lisa

Home Office 605 •366 • 7988

Life

lisa@letlisaorganize.com

letlisaorganize.com

January 2016 | BizNOWmagazine.com | 27

BIZ Finance

by Alan Dooley

When Should You Take

Social Security?

With over half of the elderly relying on Social Security (SS) for 50% or more of their income, it could matter when you start to take benefits. Everyone has a different set of circumstances and financial needs, so there is no single answer. That said, here are some things to consider: If you plan to work beyond age 62 or are financially stable, putting off Social Security benefits until the maximum age of 70 can boost your monthly paycheck by more than threefourths. While that is a good deal, the reality is that more than 40% of people claim as soon as possible at age 62 and less than one in twenty wait until age 70 for the maximum benefit. The fact that many Americans aren’t getting the most out of Social Security isn’t news. With the economy experiencing the slowest recovery since the Great Depression and savers punished by the devalued dollar, it is no surprise that low savings rates have forced retirees to take the cash now. Even with evidence suggesting a large number of new retirees have enough savings to stave off receiving Social Security for several years, they are not doing so because they feel they are leaving money on the table or they may fear that SS is unstable and will disappear if they don’t take it. Researchers at Stanford, George Mason University, and the Treasury Department, examined tax returns for taxpayers born in 1940 and retired about a decade ago. Their findings showed about a third who claimed prior to full retirement age had enough IRA wealth to put off SS benefits for two years and a fourth had enough to wait 4 years. 401(k) balances were excluded because they are not reported on tax returns. One dollar today is required to match the purchasing power of two cents in 1913 when 28 | BizNOWmagazine.com | January 2016

President Wilson first commissioned the Federal Reserve. Prior to going off the gold standard, the value of the dollar ebbed and flowed with the economy and increased in value over eight decades along with strong economic activity. In fact, what $100 bought in 1829 could be purchased for only $64 in 1913. Purchasing power aside, there is the life expectancy and quality of life issues to consider. Having money in early retirement means you can enjoy it longer vs the risk of poor health later in life precluding the same enjoyment. If you forgo the first 8 years (62-70) of income for the extra 75% at age 70 and live to 92, you will only collect an additional 28.33% over the 22 years. Although the government wants you to wait, many retirees do not feel it is worth the risk. If you are single and in bad health, it may make sense to claim early. The researchers also concluded those who took Social Security early didn’t, on average, live quite as long as late claimers. Given the somewhat favorable math associated with delaying, the discrepancy was not large enough to fully explain why so many claimed sooner than they had to, according to co-author John B. Shoven. Shoven also theorized that people assume retirement and Social Security are synonymous and therefore take them together and do not really think through their options. Or it could just be basic human nature to take what is in front of you sooner than later. u

Social Security is the major source of income for most of the elderly according to the Social Services Administration.

•

ine out of ten individuals N age 65 and older receive Social Security benefits.

•

ocial Security benefits S represent about 39% of the income of the elderly.

•

mong elderly Social A Security beneficiaries, 53% of married couples and 74% of unmarried persons receive 50% or more of their income from Social Security.

•

mong elderly Social A Security beneficiaries, 22% of married couples and about 47% of unmarried persons rely on Social Security for 90% or more of their income.

BIZ Ag by Alan Dooley

Animal Disease Research is Vital to the Midwest Economy

Scientists at SDSU were leaders in diagnosing the global Avian Flu outbreaks, and helped develop a test to detect the genetic material that caused the 2013 & 2014 PEDV spread among hogs, preventing a further epidemic. South Dakota State University holds a critical position in maintaining the regions multi-billion dollar livestock industry. Bio health and safety are the mission of the South Dakota Animal Disease Research and Diagnostic Laboratory (ADRDL), located within the Veterinary & Biomedical Sciences Department at the Brookings campus. The current facility was built in 1993 and is in dire need of modernization to continue its research in disease diagnosis and the development of prevention and treatment methods to safeguard animal and ultimately human health. When an animal disease outbreak occurs -- such as the avian flu, porcine epidemic diarrhea virus (PEDV) among hogs, or the dog flu -- the impact can be devastating, reaching wildlife and fisheries as well as humans and our food supply locally, nationally and globally. The veterinary diagnostic services provided by ADRDL also offers student training and is the only American Association of Veterinary Laboratory Diagnosticians (AAVLD) accredited laboratory in the state. There are only 30 states with accredited labs. ADRDL scientists at SDSU were one of the leading labs diagnosing the avian flu outbreaks and helped develop and commercialize a test to detect the genetic material that caused the 2013 and 2014 PEDV spread, preventing a further epidemic.

seeking $44 million in funding and donations over 25 years to expand and modernize its facility or build an entirely new lab. Areas targeted for improvement include Biosafety in food processing and facility upgrades to handle and contain highly contagious diseases and epidemics. Diagnostic testing equipment needs to be modernized with new technology and compliance with environmental regulations addressed. Key too are the protection of staff and students when dealing with contagions. These improvements will allow the facility to safely develop new diagnostic tests and disease control methods to protect our food production processes and health. u

By the numbers: • The ADRDL conducts over 500,000 tests each year. • T hey offer 237 different diagnostic tests and serve over 1,000 clients a year. • I n 2015, the lab has seen a 27% increase in diagnostic tests over 2014. • A s of this summer, the lab has produced 73 patents, 62 biomedical invention disclosures, • 1 47 patent applications and 19 commercial licenses. It also supports local entrepreneurs and job creation with 5 new licenses for startups.

In order to meet the challenges of staying ahead of any major disease outbreak that could devastate the region, SDSU is

January 2016 | BizNOWmagazine.com | 29