UnCommonSense Scaling Your Business
Dave Ramsey Says
Quit small business for new job? October 2014
Getting off the ground Scaling A Business Takes More Than Just Getting It Started
Scaring up business
Haunted tours are a major attraction throughout Louisiana, including Shreveport-Bossier
LISTEN UP! Podcast of the Month Page 9 DELIVERED TO BUSINESS LEADERS THROUGHOUT SHREVEPORT-BOSSIER
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Biz. Magazine • October 2014
The First Word
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Everyone should want to scale their business/company caling is one of the business buzzwords of the moment. Essentially, “scaling” is tantamount to “growing.” The ability to scale means reaching the ability to grow up AND out. You hear it thrown around a lot when it comes to new businesses. Yes, the entrepreneurial spirit is alive and well in Shreveport-Bossier and all of northwest Louisiana. But the need to scale exists for businesses of all types and sizes.
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You ask the big boys and they will tell you they want to keep their budgets in the black, keep growing, keep making more money for their coffers and their team. They want to scale. If you’ve built a successful platform to reach people and convert them into clients and even fans, now is the time to grow. All that effort, which can reach Hercules-level, is for naught if you don’t scale. But before you grow, you need to ask yourself one very important question: What does it look like? If you’re making a profit and ready to expand, your vision of scalability really comes down to your mission. Are you building a business to support an unstructured, autonomous lifestyle? Do you want to be CEO with your own team? Is your goal to hit a home run, sell and retire early? Is your scaling aiming to reach more people to make a difference in your community? Or are you merely trying to increase profits for the viability of your business? Once you know your goal, your mission, your personal motivation behind your business, then you will know the necessary size of your customer base, how much you need to be involved, and personnel requirements. Your why puts you on the path to your how. Honestly, this is something we’ve been asking ourselves recently at BIZ. Our mission is simple — educate local businesses and build leaders to improve our business community. We even have a motto: “Applied knowledge = power.” We give you information to empower you to lead and change your business, your community, your corner of the world. But why? I’d be lying if I didn’t say we want to make a profit. But as I see it, our mission and our motivation are inseparable. Why I wake up in the morning is to improve our business environment and if we focus on that, it guides how we scale. And therefore, how we make the money to do that. It is a self propelling scenario, one that is essential to not only our growth here at BIZ., but for ShreveportBossier. And the more advice and info we share with each other, the better off we all are in our little corner of the world. We’re all in the same boat here — we want to grow, you want to grow, and we want you to grow.
Sean Green Sean is vice president/publisher of BIZ. You can follow him on twitter @editorsean.
In this month’s edition, we dissect how Shreveport’s CoHab has moved from a co-working space to focusing on incubating entrepreneurs with scalable ideas. We will also identify the differences between a startup and a small business. We look at the importance of scaling, why YOU should scale, and (most importantly) how you can scale.
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We look forward to growing up with you.
October 2014 • Biz. Magazine
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Contents 14
How high can you go?
As CoHab moves from a coworking space to an entrepreneur incubator, Director John Grindley discusses how to tell if your business is scalable or not.
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Bossier Chamber ATHENA Award nominees
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You can’t build up without a strong foundation
Meet the eight nominees for the yearly award given to women who have attained the highest level of professional excellence, devoted time and energy to improve the quality of life for others in the community, and have opened doors of leadership opportunities for women.
Steps for building a platform to scale your business from.
On the Cover The latest round of downrtown Pop UPS includes a entrepreneur couple who are living their “Ice Cream Dream”
Regulars 3
Do you want your business to grow up? Everyone should want to scale their business/company.
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BIZ. News Online
The BIZ. website at www.nwlabusiness.com is Shreveport-Bossier’s home for business news, updated as it happens. In addition, users can sign up for a free BIZ. Daily Report to keep up with BIZ. news from the comfort of their Inbox.
Want to advertise? http://bizmagsb.com/adrates/ Volume 5, Number 10 | ©Copyright 2014 by Specht Newspapers, Inc. All rights reserved. BIZ. is published each month by Specht Newspapers, Inc. at 4250 Viking Drive, Bossier City, LA 71111. Telephone (318) 747-7900. Information in this publication is gathered from sources considered to be reliable, but the accuracy and completeness of the information cannot be guaranteed.
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Biz. Magazine • October 2014
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WANT to grow
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Surprise!...I’m leaving
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Get some leverage
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Scaring up business
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What’s on tap in October
Improve profits through education.
How to handle the departure of a valued team member.
To scale, you need to find leverage & systemize every thing in your business.
Haunted tours are highly popular throughout Louisiana, incluiding Shreveport-Bossier.
Beer is the word for a weekend unwind this month in Shreveport.
Win-Win Powertools
WANT to grow
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Improve profits through education avid Specht, owner and originator of the many BIZ Features has started producing BIZ Pod-Casts. He uses me as his cohost. There is a new one each week to help you and me grow our businesses. Primarily, I’m there to ask “why”, “what” and “how”. That’s not a difficult job for me, be-
Jerry Frentress Speaker & Coach, Win-Win Power(ful) Tools for Sales, Service and Employee Interviewing. Website: www.WinWinPowerTools.com. Business Facebook: www.Facebook.com/WinWinPowerTools . 453-6080 / Bossier City
cause I’m always eager to hear about the latest topic of business help from the BIZ. As we were recording the latest BIZ pod-cast, David leaned across the BIZ broadcast table and asked the penetrating question…. “Don’t you want to grow your business?” For both you and me, I answered “Yes”. David quickly asked “Why?” I began talking about wanting success, money, growth and a bright future. While under the gun, so to speak, I began to think about how badly I really wanted these. When I began my second career as a speaker, trainer and coach, I found a business name in Steven Covey’s book… ”The 7 Habits of Highly Effective People®” His fourth habit is “Think Win-Win”. I couldn’t get the quote out of my mind. I wanted my clients to win. If they won, I’d win. I then began thinking about how badly do I want them to win. I looked up quotes about winning, and of course, landed on words from iconic foot-
ball coach Vince Lombardi. A well known quote credited to him was “Winning isn’t everything, it’s the only thing.” Come to find out that is not his quote. What he did say was “Winning isn’t everything… wanting to win is!” It seemed obvious to me that he wanted players who wanted to win and who thus practiced to win and played to win. That was a long way around to go for this question….”Do you want to grow your business?” David Specht has a new way of putting it. “Do you want to scale your business?” If you want some more information on SCALING your business, turn the pages of the BIZ Magazine….find the BIZ Podcasts on ITunes or Sticker Radio and listen to David answer my questions… Talk to David Specht….Invite David and BIZ Publisher, Sean Green to your next company meeting or sales meeting. His e-mail is dspecht@bossierpress.com. Good Selling… I mean SCALING! Jerry October 2014 • Biz. Magazine
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Marketing B-S (Bossier-Shreveport)
Surprise!...I’m leaving
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How to handle the departure of a valued team member
hat happens when a team member resigns from your team unexpectedly? As for me, I never take the news well. When faced with this situation, I think it is always important to keep your emotions in check. Remember, it is easy for people to think the grass is greener somewhere else. And, some people are always in search of “greener grass.” However, most times, the search for “greener grass” does not turn out as planned.
Randy Brown
Advertising/Marketing Guru He is the Advertising Director for Bossier Newspaper Publishing Company, Inc., publishers of the Bossier Press-Tribune and BIZ. Magazine, as well as Publisher of the BPT. Randy may be reached at rbrown@bossierpress.com
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Biz. Magazine • October 2014
What should we do when a team member leaves our team? Well, the first thing I think of doing is getting through the immediacy of the imminent situation. Some business leaders recommend trying to talk the person out of leaving. However, I am not much of one to do this, if their mind is already made up to leave.
If you hire outside your organization, remember: "Hire slow, fire fast."
True, most times it is never a good thing for a team member to leave the team for any reason. The loss will most likely mean a major change in the cultural dynamics of your internal organiza-
tional environment. However, adopt the survival mode mentality! Again, focus on getting through the situation. As such, plan to immediately to hire a replacement. If at all possible, promote from within your organization. This is always a plus and also a great morale booster to the members of your team - as they will see that their hard work may very well pay off for them by way of a future promotion. As a backup plan, it never hurts to have at least two to three resumes waiting in the wings - just in case promotion from within is not a viable option. If you must hire from outside of your organization, always remember (as Dave Ramsey's rule says) "hire slow, fire fast." Hire the best fit for your present needs in combination with the person that you truly feel is the best fit for your organizational team.
October 2014 • Biz. Magazine
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Biz Tools
Do Something The speed of business is ever increasing. The successful business leader stays on top of the tools and information to help his company grow.
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Book of the Month
o be successful in the market today, you must possess two strategic assets: a compelling product and a meaningful platform. In this step-by-step guide, Michael Hyatt, former CEO and current Chairman of Thomas Nelson Publishers, takes readers behind the scenes, into the new world of social media success. He shows you what best-selling authors, public speakers, entrepreneurs, musicians, and other creatives are doing differently to win customers in today’s crowded marketplace. Hyatt speaks from experience. He writes one of the top 800 blogs in the world and has more than 100,000 followers on Twitter. His large and growing platform serves as the foundation for his successful writing, speaking, and consulting practice. In Platform, Hyatt will teach readers not only how to extend their influence, but also how to monetize it and build a sustainable career. The key? By building a platform. It has never been easier, less expensive, or more possible than right now. . — Amazon.com
On the BIZ. Tools Podcast This Month: Why Join A Chamber of Commerce? 10 Habits with Butch Bellah
Last Month Tribes Scaling Your Business Listen to the BIZ. Tools Podcast at: boztoolspodcast.com
App of the Month Slack
What if you had a team chat app that actually was easy to use for everyone? Slack has reinvented team chat. It’s real-time chat, private messaging, and archiving with search across everything in an app that’s simple to integrated in your team’s workflow. At its core, Slack is just a group chat app, along the lines of Hipchat and Campfire. And yet, it’s so much more than that, something that’s apparent right from the signup. You can set it to let anyone with an @yourdomain.com email address automatically join your chat groups just by signing up, sans-invite, which makes it incredibly easy for everyone to start using.
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Biz. Magazine • October 2014
#WorthFollowing @editorsean @davidaspecht @bizmagsb @cohab @Entreleadership
More Tools
Podcast of the Month Seth Godin’s Startup School Seth Godin is a thought leader in the marketing and business world. In this rare live recording, hear Seth as he guides thirty entrepreneurs through a workshop exploring how they can build and run their dream business. This podcast is 15 episodes long and was recorded live. — Stitcher Radio
Bigger, Longer & More Valuable (But Still with Coffee and Donuts) BIZ. Breakfast @ CoHab
October 2014 • Biz. Magazine
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Business Development
Video is the way to go Consider this when marketing your site
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ommunications company Cisco estimates video will account for close to 70% of all internet traffic by 2017, and videos are a great way to show off what your company is all about, cool products you retail, and proof of performance for services you provide. Don’t have a photographer’s eye? (Or the time to dabble…) Here are some tips for when you are looking to hire a company to shoot videos for your web content:
Request (and watch!) their demo reel. Do they have versatility or are they best with one style? Does that style fit with your vision of your company’s branding? Ask and answer a LOT of questions. Creative processes require tons of communication so each party understands the abilities, vision, and limitations of the other party. Will you need graphic design? Sound design? Multiple formats of the same video for various platforms? Shorter, trailer-like versions to promote lengthier pieces? The more you and your production team communicate before a project, the more smoothly each part of the process will go. Also, communication prevents surprises from showing up on the invoice! Show up with a budget. A video professional or production company should be able to give you up-front pricing about how much they charge per hour for shooting and editing. Northwest Louisiana is blessed with lots of skilled video professionals, so don’t be afraid to get several quotes. And a last, quick tip for if you shoot a tutorial or other video on your smart phone to post to your company’s social media: people will watch shaky or pixilated video if the content is what they’re looking for, but bad audio will stop even the most ardent fans from watching a clip. _________________________
Jill Macchiaverna Jill is Publicity Chair, Business Development Connection for the Greater Shreveport Chamber of Commerce.
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New Caddo Parish Schools Superintendent Dr. Theodis Lamar Goree, Jr., will speak at the next Greater Shreveport Chamber of Commerce Business Development Connection luncheon about how Caddo Schools are preparing our future workforce. Join us October 16 at 11:30am at the Petroleum Club (416 Travis Street, 15th floor, downtown Shreveport). Luncheon admission is $20 for the buffet, with one-day cancellation notice required. RSVP to bdc@shreveportchamber.org or (318) 677-2500.
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Uncommon Sense Marketing
Get some leverage
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Amy Kinnaird
Marketing Strategist Trainer and Speaker With over 35 years experience in marketing and training, Amy helps business owners put together the right plan. If you struggle with your marketing and don’t know where to start… If what you used to do for marketing isn’t working anymore…If it’s time to get clear about your business and come up with a good plan…call Amy at 318-795-0520 or visit her website: www.UnCommonSenseMarketing.com
To scale, you need to find leverage & systemize
2. Systems: Build processes and systematize everything in your business. This will ensure your product delivery is the same quality order after order and will keep you from constantly putting out fires.
ost businesses want to expand their client base and earn more revenue. As new clients are added, resources are added, too, in order to supply and support the production and delivery of your product. We hear the terms “grow” and “scale,” and there is a difference between them. Scaling is the ability to add a lot of revenue — quickly — without adding a lot of cost and resources, while still delivering an excellent product and service.
To leverage, ask this: Can you mass produce your product? Can you deliver your product faster or cheaper or eliminate delivery costs altogether? How can you leverage your time and resources?
Traditional growth usually adds revenue at the same rate as adding more costs. Scaling adds revenue while adding fewer resources and cost. If each product sale takes as much time and effort as another sale, you aren't scalable. Want to scale? 1. Leverage: Look for ways to sell your products or services in a more leveraged way that doesn’t require a ton more manpower, effort or time.
n If you sell one-to-one now, how can you sell one-to-many? n If you sell face to face now, how can you sell online? n If you use snail mail now, how can email help? n If you sell individual products, how can you bundle your products? What should you systematize? Everything! You’ll want a new client system, a production system, a billing system, a follow up system, etc., and each of these may have sub-systems. How can you easily create systems for your business? n Each person documents every business function they perform. n Create a notebook (hard copy or online) for each functional area and put the step-by-step lists there. Keep it all in one central place that’s easily accessible. n When it’s time to do that task again, pull out your list and go right down the steps. Nothing is forgotten, the quality should be the same, and no brain cells were expended in trying to remember all the steps and in which order they need to be done. Take time now to get your systems in place and start to leverage. Scaling will be a lot easier and less frustrating!
October 2014 • Biz. Magazine
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From the Bossier Chamber
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Don’t circle the drain
Avoid the major mistakes made by many new businesses
n every community there are people from all walks of life that venture into the world of entrepreneurship. Some of the best known companies in the world started small and there is much success to be found as a small business owner. Unfortunately there are also many pitfalls for business owners to navigate. Here are some of the top mistakes new business owners have made, and what you can avoid to better your business success. And remember, as you’re getting out of the gate, look to the Bossier Chamber of Commerce for assistance. Our staff’s expertise can help guide you through many of the tips and suggestions written out here. Our resources stretch as far as our welcome – which is a pretty far reach. 1. Always create a business plan - Business plans are not just for requesting a start-up loan. A good business plan will help you clearly define your business goals and objectives, marketing strategies, contingency plans for start-up challenges and thinking through how your business will survive and grow past its infancy. Successful businesses have a plan, so that is step one! 2. Don’t get emotional Sound business decisions can fly out the window when a business owner allows their emotional attachment for their product or service to get in the Monique Roux way of good sense. Have Director of Business Development and people that you can rely Military Relations Liaison, on to bounce ideas off of Bossier Chamber of Commerce
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who will shoot straight with you. Listen to the facts and do research before making major business decisions that could have long reaching effects on your business. 3. Be realistic about early profits - Statistically, most small businesses start to see a profit after the first year or two of opening. Not all small business owners are prepared for this, so it is recommended to have a source of reliable income or savings to sustain the business owner and the business during this fledgling time. 4. Be careful not to overspend right out of the gate - Making a great first impression is important, but choose your expenditures carefully. Identify the top priority items and schedule purchases of other desired items as the first two years of business come along so that the business is not buried under debt from the start 5. Hire carefully - Cautiously consider what, if any, staff is necessary to fulfill your services. It is better to start out lightly staffed and add more when you need it, then to go through all of the hassles of cutting back excess staff after-the-fact. When you do choose to hire, be careful to bring on people who can provide good customer service and can adapt to selling your product or service quickly. Poor customer service is one of the quickest ways to sink your business. 6. Location, location, location! - Location is very important for any business, but make sure it is the right fit for your business. It is easy to fall prey to super low commercial lease pricing even if the space is not in an ideal location. Inexpensive rent does not make up for what will happen if no one knows where your business is located. Consider if you can work out of your home or truly need space. If you determine that you do need commercial space, think through how much space you really need to start out and make sure that if you need visibility, your location is not the super cheap warehouse space down an unused service road.
7. Don’t underestimate the power of good marketing - All too often a new business owner makes the mistake of believing that their product or service will sell itself. This is a common misconception that costs many small businesses the success they could have had if a marketing plan had been in place. Be strategic in choosing marketing venues that will suit your business and appeal to your target customer, but never believe that marketing is not necessary…it is! 8. Cash flow will sometime have kinks - Slow business or unpaid invoices can leave a business low on cash. Be sure to establish an emergency plan for paying your business bills by either having an account for emergency cash or getting a line of credit from a bank so that you don’t fall behind while waiting for things to pick up. 9. Protect your personal assets - Be sure to protect yourself with the proper liability insurance for your company and structure your business appropriately to keep your personal and professional assets separate. From sole proprietor to corporations, there are varying degrees of liability to you depending on how you structure the ownership of your business. Carefully consider your options and use tools available through the local small business development center and through the secretary of state’s website. Making the right decision here will shape business success and protect you and your employees. 10. It’s all about who you know - Success tends to hinge on who you know. Building your network of business partners and potential clients is worth the time spent at weekly or monthly networking events. One hour spent shaking hands and giving out business cards can produce amazing contacts and future customers that you would not have gotten by staying in the office. Networking must be a priority.
Put us to work for you.
While LCI Workers’ Comp has never loosened a single lug nut, we have worked alongside local business owners for more than 25 years—providing expert guidance, exceptional service and free training programs like QuickBooksTM , online marketing, and safety education. :: lciwc.com :: 985-612-1230 October 2014 • Biz. Magazine
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Cover Story
As CoHab moves from a coworking space to an entrepreneur incubator, Director John Grindley discusses how to tell if your business is scalable or not
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Story & Graphic By Sean Green
Cover Story
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f you were to talk about a new company you wanted to start, you would probably use the words “small business” and “startup” interchangeably. It’s okay, many people do it, including the author of this article. Fact is, they are two very different models and the perception that comes with each can affect how they operate and how much money is brought in to said operation.
Small businesses are ventures that are anywhere from decades old or started weeks ago and either through design or uncontrollable limitations will only be one size — small. But startups are fledgling businesses that are meant to grow quickly. Many startups begin life as a small business and then realize they can scale, but if a business is just to put food on the table for you, your family and your employees and their families, then you have a small business. That ability to scale, and scale quickly, is what separates small businesses and start ups. “The differences between a small business and a start up are tremendous. Many people confuse the terms or make the synonymous all the time,” said John Grindley, director of CoHab. “The difference is a startup is scalable of profit, multiple products, locations and people.” Scaling is a hot topic for CoHab right now. Shreveport’s first major co-working space has grown its mission to focus on incubating starts ups. The Red River District-based non profit is focusing on bringing in 8-10 start ups and giving them the tools, coaching, advice, and resources necessary to achieve prerequisite, but individualized goals for each member, with the goal being to scale out of CoHab altogether. “Our goal is to cultivate and grow entrepreneurs in multiple and various stages of development and focus those efforts on eight to 10 startups per cycle that have milestones they must meet in order to grow in the program with local mentors and
Continued on Page 24
Photo Courtesy of CoHab The Louisiana Startup Prize is a major event for local entrepreneurs that CoHab sponsors and will play a part in the non-profit’s new mission.
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Are you a startup or small business? hen we talk about scale, what do start ups need to take into consideration? “Startups need to consider solving their problems the leanest way possible,” said John Grindley, director of CoHab, Shreveport-Bossier’s new startup incubator.
Several questions are raised when you want to scale. Ask yourself these to see where your business falls on the spectrum: n What can I do to reach more customers and what channels do I tap into to do so? n What can I do to reduce my costs? n What can I replicate or duplicate about my business in other locations? n What other products or revenue streams can I tap into with my company?
John Grindley
Director, CoHab Shreveport-Bossier
n What can I automate so I don't need as many people to manage what my business does? October 2014 • Biz. Magazine
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Cover Story
You can’t build up without a strong foundation
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Steps for building a platform to scale from ou’re not a struggling startup anymore. You’ve got a rolodex of clients/vendors, hundreds to thousands of customers, your own office space, you’re even making some money. Now you’re ready to grow your platform.
The en vogue method of scaling is the social media model of building a platform and gaining fans. Your platform needs to be strong and sturdy for growth later on. If you make your platform flexible, it won’t negatively impact your team or your plan. Here are steps on how to build a platform for scaling:
n Increase your profile — You need to reach people on their level. If you’re the boss, people want to reach you and you need to reach them. So get your image and story out to the world through your website, blog, social media and even speaking engagements/public events. n Make connections — “It’s all about who you know.” That long held tenant of business is still true, but now it’s about finding successful people who get it and leveraging these people’s influence to spread the word about your business and your mission. n Use your resources effectively — If you want to increase your profits by 10%, then use what you’ve already got. Assemble a great team, find a mentor, and build connections. Come up with a strategy and then act on it. If you don’t act, then you’re still taking action. It’s just a negative one. n Under promise and over deliver — It’s easy when reaching out and presenting yourself to people that your image can exceed your capabilities. You need to know your financial and manpower constraints and what you can and can’t do for your customers, clients and vendors. Then make a promise that you know you will wow them with. n Don’t lose perspective — It’s easy to get bogged down by the day-in-day-out routine that must get done. But if you don’t focus on the goal and plan how to get there, you will spin your wheels forever.
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Spotlight
ATHENA Awards
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Bossier Chamber of Commerce
names nominees for the award to be handed out later this month
he Greater Shreveport Chamber of Commerce Business Development Connection and the Bossier Chamber of Commerce join each year to present deserving women in the communitiy with the ATHENA Award.The ATHENA Award is presented to two individuals who have attained and personify the highest level of professional excellence by showing creativity and initiative in their business or profession, have devoted time and energy to improve the quality of life for others in the community in a meaningful way, and have opened doors of leadership opportunities for women in order for them to achieve their full potential. Below are the eight Bossier Chamber of Commerce nominees:
Lynn Nelson-Stevens Fighter, survivor, and most of all a giver. Those are the words that come to mind when you hear the name Lynn Stevens. After leaving home at a very young age of 17 due to an abusive situation, she lived on the school grounds of her high school. After being taken in by her Math teacher at the time, Lynn went onto graduate high school and later completing her college degree. Lynn puts her heart and soul into everything she does to be best of her ability. After the birth of her daughter, Lynn was diagnosed with Muscular Dystrophy. This is just a health struggle she deals with daily, but not something that has stopped her spunky spirit and the love she has for others. From raising over 30 million dollars for NWLA nonprofit organizations in the past nine years, to volunteering with the Providence House Domestic Violence Shelter, and HOPE Connections as well as sitting on a numerous amount of local boards and organizations, such as serving as President of the Quota International, the oldest international service organization for women focused on empowering the deaf, hearing and speech-impaired, Lynn has no time to focus on her disability. She currently serves as Chief Operating Officer for United Way. “I get up each day and truly feel blessed that I am able to touch every person that I come in contact with, and have the ability to demonstrate advancement and leadership skills to break this typical stereotype of the disable.” Stated Lynn.
Jan Elkins “I started working for free, but moved up the ladder and have lived the American Dream!” stated Jan Elkins. For more than 33 years, Jan has been a TV anchor for KTBS, which she now holds the position as Community Project Director. Over the last 25 years, Jan has been able to raise more than $27 million dollars for St. Jude thru the St. Jude Dream home giveaway,
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Spotlight ATHENA: The remaining nominees from Bossier Chamber Continued From Page 17
which is a big passion of hers. In the past, Jan has served on many local boards and currently serves on the McDade House board. She formed the group The Phenomenal Women, a group of ladies 20-25 who owned their own company or were the CEO of Executive directors of Non-Profits. Jan has received several awards in her career such as Louisiana Media Award; Excellence in Medical Reporting Award, The Gabriel Award and the list goes on and on. And in case this TV thing does not work out, Jan has a Master Degree in her back pocket to carry on her great accomplishments. As Jan as said, “If I can make a difference in one person’s life, my career will be worth it.”
Venita McCellon-Allen Venita is the driving force for employee volunteerism and corporate giving. After joining SWEPCO in 1983, Venita has worked her way into many job titles. From a communications representative to now she holds the title as President and Chief Operating Officer for SWEPCO. AS well as overseeing a company that serves over 530,000 customers in LA, AR, and East Texas and the panhandle area of North Texas, she is also the President and Chief Operating Officer for AEP Texas. Under Venita’s leadership, SWEPCO has been a Pacesetter company for the NW Louisiana United Way and is leading the campaign to date. Venita is a member of the Committee of 100 for both local and state chapters as well as a current member of Executive Women in Energy, an association for women professionals that provides networking opportunities for women in the energy industry and fosters career and leadership development. She has been featured in a national campaign for Clean Coal sponsored by the American Coalition for Clean Coal.
Terri Axelson Terri began working as a key national executive with Evergreen Life Services in early 2014. Through her creativity and initiative, she developed a needed structure and processes to coordinate social enterprises and overall development for Evergreen, making a significant positive impact across our seven state service area and over 2,400 employees. She was instrumental in developing a national sales strategy with the Evergreen HEAVENDROP product line and most recently in bringing attention and opportunities to the Bossier/Shreveport Art Center helping artists with disabilities market their creations throughout the community (including The Do Good Store at the Boardwalk). She combines her health and human services experience with her Real Estate experience as a licensed REALTOR®, specializing to meet their specific needs through what is often an arduous journey. Terri’s professional history has been in the field of Social and Human Services since 1983, with a prior experience in Business Administration in the Commercial Health and Life Insurance, and Oil & Gas Industries. She currently sits on the Mayor’s advisory Council for Person with Disabilities. Some recognitions and achievements that Terri holds are: Women Who Make a Difference award, President’s Committee on Disabilities, Next Generation Leadership, Louisiana Delegate, and Meritorious Service Award.
Denise Odom To start on her professional level, Denise has been the Executive Director of the Louisiana Lions Eye Bank for over four
ATHENA Awards Luncheon Two women will be honored with the ATHENA Award, from 16 nominees culled by votes from the Bossier Chamber of COmmerce and Greater Shreveport Chamber of Commerce, during a special luncheon: Thursday, October 23 11 a.m. Shreveport Convention Center LA Hwy. 173, Shreveport, LA years now. Denise is a Certified Ophthalmology Technician, Certified Eye Bank Technician, Certified Non-Profit Administrator, and a Notary Public. Denise came into this organization with a passion for helping people regain their sight through corneal transplantation. Denise has been in the ophthalmology field for over 30 years working for many of the eye surgeons in the Shreveport/Bossier area. On a community level, Denise volunteers her time with the Red River Lions Club as the past president of the club and the current treasurer of the club. Denise volunteers her time twice a month for the Lions Club to test and fit patients with free eye glasses that cannot afford to purchase them. This is through University Health Center and Lions Club International but she volunteers her time to make sure these people do not go without sight. Denise is also a very active member of our LGBT community and attends regular events and supports PACE and other LGBT organizations in the community. She has received several awards from the Lions Club such as the Service Award as well as the Southern Hospitality Charity Award.
Nelda Altimus Nelda Altimus began her career with the Louisiana Workforce Commission in 1981. She spent the first 20 years in regulatory services working with child labor laws and the registered apprenticeship program. The last 13 years have been spent in employment and training programs such as the Incumbent Worker Training Program and the Workforce Investment Act. Nelda currently coordinates services in 9 parish Business and Career Solutions Centers under the guidance of the Coordinating and Development Cooperation. When it comes to accomplishments on the job, Nelda feels one of her greatest accomplishments has been in helping a number of Workforce Investment Areas to better understand the federal performance guidelines and lead them from mediocre or failing performance to exceeding the measures. Typically a nominee has ties to a particular organization for which they volunteer. Nelda is a little different in this aspect. Nelda has not tied herself to particular organizations, but readily volunteers her
services all of the time. She has been a behind the scenes supporter of The Boy Scouts of America for many years. She is a graduate of Louisiana State University in Shreveport with a B.A. in Psychology. In addition, she completed several graduate level courses in counseling through Louisiana Tech University. She is married to Bill Altimus, the proud mother of Matthew, Joshua and Elizabeth and the very proud grandmother of William, Catherine and Luka, with another on the way.
Vita Riner Vita Riner came to the USA without speaking a word of English and now she is a proud American Citizen. After working as a secretary in Nicky’s Restaurant, in 2004 she founded the Magazine “Vita Latina Magazine”. Her main idea was to have a magazine that would be the voice of the Hispanic community in this area; to speak about what good things the Hispanic population was doing in their everyday activities. She started the magazine with a bilingual concept with the purpose of informing in our language matters such as immigration, military, politic, social and culture events. In addition, she introduced product or service to companies who are interested in doing business with our community. Vita Latina Magazine had been a successful project in the community, and now the magazine is all over North West Louisiana and East Texas (Monroe, Minden, Benton, Bossier, Shreveport, Waskom, Marshall, Kilgore, Longview, Tyler). In December 2011, she ended her job as editor to focus in growing the market and projects, so she began a new position as a Sales Manager for the Hispanic Market. Vita also started La Invasora 92.1 FM radio station in 2006. This all-Spanish radio station became the main speaking voice of the Hispanic community. Vita’s hard work has played a significant roll with La Invasora to be recognized by business leaders as well as government leaders. From 1980 through 2001, Vita worked in Mexico as a computer broker. During this time she was one of the best national sales brokers recognized for Intel and HP, Acer, Lexmark and many other technology brands.
Lynn Higginbotham Lynn joined Argent in early 2010. As an APS Vice President, Lynn manages oil and gas assets for mineral owners focusing primarily on properties located in Northwest Louisiana. A native of Shreveport, Lynn has over 36 years’ experience working in the oil and gas industry. Lynn worked for JPMorgan Chase and its predecessor banks for more than 24 years, most recently serving as Vice President and Senior Mineral Manager in the Shreveport office of JPMorgan Chase Bank. Lynn, along with her husband, founded a 501(c)(3) enterprise called Trinity Faith Enterprise Inc. to serve our area’s low income community. Their organization’s mission is, “To promote community revitalization and self-reliance through education, housing assistance, and employment training.” Some associations and organizations that Lynn is a part of are: National Association of Royalty Owners, American Association of Professional Landmen, Red River Desk & Derrick Club, 2011 Chairperson for United Way Women’s’ Leadership Council, and currently sits on the board for The Glen Retirement System. Lynn continues to find a way to offer to the practical hands-on assistance, funds for education, and resources to our community.
October 2014 • Biz. Magazine
19
NWLA Tourism
STORY BY Chris Jay
Scaring up business
H
Haunted tours are highly popular throughout Louisiana
alloween is big business in Shreveport-Bossier, where haunted houses, costume shops and Halloweenthemed events proliferate in the weeks leading up to Oct. 31. Until recently, however, the “haunted tour” business was more associated with southern Louisiana – especially New Orleans – than northwest Louisiana. That’s changed in recent years, as several local haunted tour services have begun hosting guided ghost tours. The historic Logan Mansion, located at 725 Austin Place in Shreveport, will once again host its popular haunted candlelight tours on Halloween night, Fri., Oct. 31. Guided tours exploring the house will begin every 20 minutes, 6-9 p.m. Admission is $10 and tours last approximately one hour. Reservations are not necessary. Built in 1897 by successful beer distributor Lafayette Robert Logan, the Victorian-style mansion has long been rumored to be haunted by the spirit of a young girl who is said to have
20 Biz. Magazine • October 2014
fallen from an upstairs window. During haunted tours at the Logan Mansion, guests will see all 17 rooms of the mansion as well as the 2,000-square-foot attic, hearing ghost stories along the way. “This isn’t a staged tour, there aren’t people jumping out at you or anything like that,” said Logan Mansion owner Vicki Lebrun, who has owned the historic mansion since 2005. “Guests will get a tour of the entire house, and they’ll hear stories about the haunting that we have here.” Steve Smith, who operates the Shreve Town Ghost Walk in downtown Shreveport, is also excited to see Halloween on the horizon. As temperatures cool off and public interest in the paranormal is piqued due to upcoming Halloween celebrations, Smith says that the number of people taking his walking tour skyrockets. “During the summer, when it’s really hot, sometimes I’ll only have two or three folks show up for the tour,” Smith said. “But the first cool Saturday night in September or October, I’ll have two or three dozen folks show up. It’s incredible.”
Photo Courtesy of SBCTB The Logan Mansion Attic is a popular haunted tour stop for NWLA.
Smith leads a walking tour, which lasts one hour and forty-five minutes and visits buildings in downtown Shreveport that are reported to be haunted. The cost to take the tour is $10 for adults and $5 for children ages 12 and under. Tours begin and end outside of the Caddo Courthouse, located at 501 Texas Street in downtown Shreveport. Tours depart at 8 p.m. Smith’s tour season ends on Saturday, Oct. 25, at which point he helps the Logan Mansion prepare for their Halloween night event. For more information on the Shreve Town Ghost Walk, visit www.shrevetownghostwalk.com or contact Steve Smith at (318) 200-0711. Historic Haunts of Shreveport, a bus tour that carries groups to haunted locations throughout Shreveport, is also flourishing. Their tours, which frequently sell out in advance, raise money to preserve local historic landmarks. A Sept. 11 post on the group’s Facebook page noted that the group has raised more than $12,000 benefiting historic preservation efforts through their tours in 2014. For more information on Historic Haunts tours, visit www.historichauntsofshreveport.com.
Applied Knowledge
Cheerleader vs. Coach
T
They’re very different but you need both of them he term “coach” has become a buzzword these days. There are life coaches, health coaches, sales coaches and others. People seem to want someone to “coach” them. However, I believe what people are really wanting is a cheerleader.
In the realm of “personal development” people want to be told, “You can do it! I’m rooting for you.” Cheerleaders tend to offer praise before goal is reached, in hopes of inspiring the players, crowd, etc. to reach the goal. Coaching isn’t quite the same. When I played football in high school, I had a coach named Sam Ford. He was loud, mean and condescending. Coach Ford referred to the football field as “his” and you had to earn the right to be on “his football field.” He would put us through torturous drills without one word of encouragement — or so we thought. Not afraid of confrontation, Coach Ford would often grab a player by the facemask and get right in their face when a mistake is made, or to emphasize a point. In all fairness, Coach Ford was not all about “negative reinforcement.” In fact, he offered praise with an equal amount of enthusiasm. “That’s what I am talking about!” he would often exclaim after a good play. However, the praise was definitely earned. It was not given in hopes that someone would step up, do their job and reach their goal. When a player was praised, it was a special thing. At the time, nearly everyone on the team respectfully feared the coach. In retrospect, we know he was pushing us to be better than we were _ and better than we thought we could be. I have witnessed numerous practices of various sports teams over the years. I have heard loud coaches and soft-spoken coaches. While their methods may be varied, one would never confuse them with a cheerleader. As we in business “coach” our teams, it is important to know the difference between coaching and cheerleading. When your team needs a coach, don’t show up as a cheerleader. Question: What lessons have you learned from a coach in your life that you have used when “coaching” others?
David Specht
President, BIZ. & Specht Newspapers, Inc.
October 2014 • Biz. Magazine
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Business Etiquette
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Tell people about your business in a memorable way
hile visiting vendor booths at a recent conference, I asked each the same statement. “Tell me what you do.” Most responses were similar to “We maximize your investor earning potential through scaling productivity and minimizing ….”
One of my favorite authors is Geoffrey James. He calls such talk “biz-blab.” Biz-blab uses big, vague words that ultimately confuse the listener. At another conference, Scott Lasseigne of APS Payroll told me that his company handles the time consuming and labor intensive details of payroll, taxes, and the associated human resource reporting. I remember Scott and his company because he made it easy to remember the services that he and his company provide. How do you respond to “What do you do?” Do people get that “deer in the headlights” look when you ramble on and on? Here are some ideas to help people remember you and your company. Use plain, simple words. People that try to impress others with their huge vocabulary can come across as arrogant and unapproachable. Corporate-speak and strings of long, vague words seem reminiscent of snake-oil salesmen. Be concise. If it takes you 3 minutes to tell me what you do, it tells me you don’t know what you do. Tell me the WIIFM (What’s in it for me?). For example, using a company that is expert at payroll functions can save me money, manpower, time, and frustration. Be engaging. A smile and genuine enthusiasm about your work will interest people, enabling deeper conversation about their needs and your services. Avoid industry terminology and acronyms. Those of us in different businesses won’t understand what you are saying. Write it. Re-write it. Shorten it. Practice it. Make it real, believable, interesting, and brief.
Teri Haynes Owner of Business Interactions, LLC Employee trainer and business etiquette coach www.BusinessInteractions.Net
22 Biz. Magazine • October 2014
During a meeting several weeks ago, I asked Deon Cantrell of Transportation Provider Services, Inc. to tell me what her company did. She said “We are the connection between products and the trucks that deliver those products.” I know what she does; I can tell other people what she does. Tell me, what do you do?
Dave Says — On Business Quit small business for new job? Dear Dave, I’ve had my own small business for a while. I love what I’m doing, but things aren’t going very well right now. On top of that, I’m committed to $14,000 in advertising over the next 12 months. Recently, I got a job offer from a company that would pay me twice what I’m making now. I’m not sure what to do. Rich Dear Rich, It’s very important to keep your options open right now. If you completely close your business, you’ll be giving up your customers. I’m not sure I’d do that, especially when you know so little about the new job you’ve been offered. I’d suggest trying this new job, but keep a few of your customers and see if you can do the work on weekends. This would help cover some, if not all, of your business debt and keep some money rolling in if the new job doesn’t work out. If you find that you like this new job, then you’ve got a great income plus something you like doing on weekends that pays. And, if you keep your business open — even on a small scale — there’s always a chance it will begin to grow and give you the opportunity to jump back into it full-time again! —Dave
Cash reserves are important Dear Dave, I’m finally starting to see some real money after owning my own business for a few years. I really don’t want to make mistakes now that I’m finally seeing some progress. How important is it for a small business to have some kind of cash reserve? Ken Dear Ken, You always need capital reserves for a small business. You know how I stress the importance of having an emergency fund of three to six months of expenses in your personal finances? The same principle applies to business. When business slows down, or the economy does a nosedive, having a cash reserve will soften the blow and help you make it through the lean times. In addition, if something goes wrong or breaks down it will turn a potential disaster into nothing but a minor inconvenience. Think about this, too, Ken. It can also help grow your business debt-free. At some point you’re going to hear about a good opportunity out there. Good opportunities have a way of becoming great deals when you’re paying with cash! —Dave
Dave’s start in the business Dear Dave, In the beginning, how did you go about establishing yourself as a financial counselor that people could trust? Did you initially offer free counseling to help build a reputation? Anonymous Dear Anonymous, I never worried about whether or not people could trust me. I think knowledge helped offset reputation (or lack of one, back then), and I knew in my heart that I was an honest guy who had the ability to help people with their money. I began doing financial counseling free of charge as a ministry at my church, but I have a degree in finance, and I had bought and sold more than 1,000 foreclosures at that point. That taught me a lot about the business and the bankruptcy side of things. And experiencing them for myself when I went broke gave me a unique perspective into what happens in those situations. But it’s probably safe to say that people trust me more now than when I first started. There definitely wasn’t a line of people backed up around the block to see me in those days! —Dave
Dave Ramsey Dave Ramsey is America’s trusted voice on business and money. He has authored five New York Times bestselling books, including EntreLeadership. The Dave Ramsey Show is heard by more than 8 million listeners each week on more than 500 radio stations. Follow Dave on the web at www.entreleadership.com.
October 2014 • Biz. Magazine
23
Cover Story
Photo Courtesy of CoHab CoHab in Shreveport is switching its focus from coworking space to being an incubator for local startups.
Startup: CoHab will help new companies get going Continued From Page 15
supporters helping them along the way through out a calendar year,” Grindley explains. He acknowledges that while this isn't a new concept, no one is focused on connecting the dots for entrepreneurs and developing a real ecosystem. “They need constant nurturing, mentoring, and connections as these startups sometimes hit major road blocks one minute and wins that get them over their hurdles all in the same week.” Moving from being a spot providing desk space and promoting collaboration among businesses to being the nurturer for potential economic powerhouses is a change born out of its own success stories. “We saw that while we were a shared creative workspace with service providers working alongside each other, it was the 22 startups and small businesses that we graduated that were doing game changing economic development in our area.” He said these graduates turned the community’s $1 million investment in CoHab to over $20 million in new jobs and projects that are still benefitting Shreveport-Bossier long after their graduation. It became clear then where their focus should lie. “We adapted our mission just like we tell our startups to evolve and pivot towards what moves ‘the needle,’” said Grindley. “This is a natural evolution for us as certain elements of the shared workspace will carry over, like service providers that can help startups. These startups are starving for mentorship more so than capital a lot of times.” And as CoHab’s mission evolves and startups are grown up and graduated, the community will reap the benefits. “The realization of these startups’ potential means entrepreneurship and home grown companies that grow employees and profits locally, creating great jobs with great benefits for its tax base,” Grindley added.
24 Biz. Magazine • October 2014
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October 2014 • Biz. Magazine
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Lunch Break
Chris Jay reviews local food and previews events every week at www.20x49.com.
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What’s on tap in Oct. Photo by Jim Noetzel. Locally brewed beer is poured at Great Raft Brewing in Shreveport.
Beer is the word for a weekend unwind this month in Shreveport
hreveport’s Great Raft Brewing recently announced that they’ll be celebrating their first anniversary with a huge party on Friday, Oct. 17, complete with nine or more beers being poured in the tasting room (see the list of beers at www.greatraftbrewing.com/event/great-raftbrewing-1-yr-anniversary-party), food and live music.
Chris Jay Public Relations and Social Media Manager, Shreveport Bossier Convention and Tourist Bureau. He is a monthly contributor to Biz. Magazine. He may be reached via email at cjay@sbctb.org.
26 Biz. Magazine • October 2014
If this date sounds familiar – especially if you’re a beer lover – that could be because it falls on the eve of Shreveport’s BREW, an afternoon-long “premier beer tasting” that will be held, 2-6 p.m., Saturday, Oct. 18 in downtown Shreveport’s Festival Plaza. If you’re a beer lover in the region, there’s never been a better weekend to plan a beer-centric trip to Shreveport-Bossier. If you’re not a local (about 50% of the folks who
read this blog aren’t, so local folks, please bear with me), and you’re going to make the trip, here are a few quick tips for happier beer traveling: 1) Buy tickets in advance. BREW is known to sell out days or even weeks in advance. Only 1,600 tickets are sold, and they go quickly. Tickets are $60 and may be purchased here. While this is the first time that the Great Raft Brewing anniversary party has been held, those tickets are pretty cheap (they start at $15, for sale here) and locals really, really love this place. It wouldn’t surprise me at all to see this event sell out. 2) Check out the homebrews at BREW. My first trip to BREW, it took me a while to get acclimated and realize that, among the huge array of libations being poured (see this year’s list here), there were dozens of homebrewers showcasing their creations – beers that I’d probably never
have another chance to drink. Look out for groups like the Malt Munching Mash Monsters, the East Texas Brewers Guild and Tyler Area Pints and Suds (TAPS) alongside the other fantastic offerings. 3) Eat. If this is your first time visiting Great Raft Brewing, be sure to check out whatever mobile food vendors are on site during the anniversary party. If the vendor happens to be called Ki Mexico, eat whatever they’re selling – just trust me, it’ll be fantastic. If The Missing Link shows up, with their gourmet hot dogs and rosemary truffle oil fries, you’re also in for a treat. Admission to BREW also includes food from some of Shreveport-Bossier’s best restaurants. 4) Please don’t drink and drive. Here’s a partial list of taxi and shuttle services available locally. Please celebrate responsibly.
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October 2014 • Biz. Magazine
27
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Jacob Hester
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