RISBJ, The Startup Issue by Rhode Island Small Business Journal

volume four issue one

STARTUPS Planting Seeds and Waiting for Growth

Startup Tips For the New Entrepreneur Things you need to know WHEN STARTING OVER Getting your startup

ORGANIZED

Startups Revisited Stories from previously featured startups

www.risbj.com | volume four issue one

With Neighborhood, there’s nothing small about your business.

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from the founder Home to over 90,000 small businesses, Rhode Island’s future depends on small businesses to keep its economy moving forward. Nationally, small businesses account for over 65% of net new jobs since 1995. The future of Rhode Island also depends on leadership, innovation and fresh, new ideas. We see fast growing companies like Swipely, Nu Label and GForm as innovators and disruptors, but like the 90,000 plus other businesses in the state, they all started with a concept. BEFORE YOU BEGIN It’s important to understand what starting a new business will really be like. Are you prepared for long hours, very few days off and very little pay? The average business takes 3 years to show a profit, and most entrepreneurs are working well beyond 9-5, Monday through Friday. You need to be fully prepared to make this commitment. FIND YOUR BIG IDEA Ideas are like seeds. We plant them, and hope that with the proper environment and care, they grow. When you finally decide what type of business you are going to start, be sure there is a need. Is your product or service solving a problem or improving upon something that already exists in the marketplace? If so, you’re off to a good start! Before you start selling your products or services, be sure to get feedback from potential customers (and not just friends and family). BUILD YOUR SUPPORT SYSTEM As an entrepreneur, it’s imperative to build a strong network.

RISBJ | rhode island small business journal

Rhode Island has a great startup culture and ecosystem, but you need to commit time to making the right connections. There is tremendous value in meeting entrepreneurs you can learn from and bounce ideas off of. Be sure to check out networking events at your local Chamber of Commerce or other statewide networking groups. Events like these will help you to expand your network rapidly. Also look into some of the great co-working spaces that have opened up over the past few years. Co-working spaces provide a better alternative to working from home or from your local coffee shop, and they are usually filled with great startup energy. Depending on your location and industry, you’ll find great value in spaces like Founders League, Hatch Entrepreneurial Center, The Hive and Hope & Main, amongst others. TRY, TRY AGAIN Even the best ideas don’t always work out. Be patient, be persistent and know that only 18% of entrepreneurs are successful on their first attempt. If your first startup merely turns into a learning experience, move on to the next big idea, taking what you’ve learned from the past. And always keep in mind that true entrepreneurs never give up!

Gil Lantini Founder Ralph Coppolino Co-Founder John Resnick Marketing Coordinator Mike Casale Senior Designer Pam Walsh Managing Editor Sara Celano Production Assistant Intern Keri Biron Chad Sabo Contributing Writers Doug Atkins Chris Barnett Kristin Carcieri-MacRae Ted Donnelly Mayor Jorge Elorza Larry Girouard Seth A. Goodall Brian K. Jordan Nicholas Mattiello Frank Motta Paula Mottshaw Marti Del Negro Teresa Paiva Weed Matthew R. Plain, Esq. Benjamin L. Rackliffe Governor Gina Raimondo Deborah Ramos Patricia Raskin John Robitaille Dr. Ronald G. Shapiro Chris Sheehy Lisa Shorr Philip Tedesco Nancy Thomas Emily Wanderer Kristen M. Whittle, Esq. Melissa Withers

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©MMXIII Rhode Island Small Business Journal

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UPCOMING EVENTS NETWORKING AND WORKSHOPS For More Events Visit www.risbj.com JAN

JAN

20 JAN

JAN

Saturday, January 17 Hope & Main Bella Piccolina “Italian Culture through Food” Workshop - Let’s Make Ravioli 9:00am-10:15am 691 Main St., Warren

Thursday, January 22 RI Billiard Bar & Bistro Business After Hours 5:00pm-7:00pm 2022 Smith St., North Providence

Saturday, January 17 Warwick Mall Fit for Life Expo 10:00am-6:00pm 400 Bald Hill Rd., Warwick

Thursday, January 22 Bluefin Grille Passport to Wine Dinner Series 6:30pm-10:00pm 1 Orms St., Providence

Tuesday, January 20 North Kingstown Chamber Business Consulting 10:00am-12:00pm 8045 Post Rd., North Kingstown Wednesday, January 21 Northern RI Chamber Take Advantage of State Energy Programs for Your Business 8:00am-9:00am 6 Blackstone Valley Place, Ste. 402, Lincoln Wednesday, January 21 Cherry & Webb Building Starting a Business in MA 4:00pm-6:30pm 139 Main St., Fall River

JAN

23 JAN

JAN

Wednesday, January 21 Anytime Fitness/Hair Cuttery Central RI Chamber Business After Hours 4:30pm-7:30pm 577 Greenwich Ave., Warwick Wednesday, January 21 Mew’s Tavern Business After Hours 5:00pm-7:00pm 456 Main St., Wakefield Wednesday, January 21 Elite Physical Therapy Northern RI Chamber: Networking at Night 5:00pm-7:00pm 594 Great Road, North Smithfield JAN

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Thursday, January 22 Chelo’s Restaurant Stephen Mecca, PhD Presents 12:15pm-1:30pm 2225 Post Rd., Warwick

Thursday, January 22 Polaris MEP Lean Overview Lunch & Learn 11:30am-1:00pm 315 Iron Horse Way, Providence RISBJ | rhode island small business journal

Friday, January 23 North Kingstown Chamber Business Consulting: Fridays at the NK Chamber 10:00am-12:00pm 8045 Post Rd., North Kingstown

JAN

Thursday, January 29 Chelo’s Restaurant Razia Jan and Joanne Craig Discuss Midwifery Program in Afghanistan 12:15pm-1:30pm 2225 Post Rd., Warwick Thursday, January 29 Quidnesset Country Club East Greenwich Chamber Annual Meeting and Business Expo 5:30pm-8:00pm 960 N. Quidnesset Rd., North Kingstown JAN

Saturday, January 24 Hope & Main Bella Piccolina “Italian Culture through Food” Workshop - Let’s Make Farfalle ‘Bowtie’ ‘Butterfly’ Pasta 9:00am-10:15am 691 Main St., Warren Monday, January 26 Centerville Seminar Center Product Innovators’ Support Group 6:30pm-8:30pm 875 Centerville Rd., Bldg. 2, Ste. 5, Warwick

27 JAN

Tuesday, January 27 North Kingstown Chamber Business Consulting: Tuesdays at the NK Chamber 10:00am-12:00pm 8045 Post Rd., North Kingstown Wednesday, January 29 Northern RI Chamber Business Before Hours Special Olympics RI 8:00am-9:15am 370 George Washington Highway, Unit 1, Smithfield

Friday, January 30 North Kingstown Chamber Business Consulting: Fridays at the NK Chamber 10:00am-12:00pm 8045 Post Rd., North Kingstown Friday, January 30 Aldrich Mansion Central RI Chamber Leads Luncheon 12:00pm-1:30pm 836 Warwick Neck Ave., Warwick

FEB

Tuesday, January 27 Northern RI Chamber Small Business Health Insurance: Information and Resources to Help You Understand and Navigate the Market 8:30am-9:30am 6 Blackstone Valley Place, Ste. 402, Lincoln JAN

Thursday, January 29 Warwick Public Library Getting the Most Out of Your Health Insurance Plan 9:30am-11:30am 600 Sandy Lane, Warwick

Tuesday, February 3 North Kingstown Chamber Business Consulting: Tuesdays at the NK Chamber 10:00am-12:00pm 8045 Post Rd., North Kingstown Tuesday, February 3 Warwick Art Museum Central RI Chamber Bella Vino Wine Tasting 5:30pm-7:30pm 3529 Post Rd., Warwick

FEB

Thursday, February 5 New England Farm & Artist Central RI Chamber Morning Coffee 8:00am-9:00am 112 Main St., Coventry Thursday, February 5 Polaris MEP Value Stream Mapping Workshop 8:30am-12:00pm 315 Iron Horse Way, Providence

contents

volume four issue one

INSIDE THIS ISSUE

6 Upcoming Events, Networking and Workshops 8 Small Business News

12 Spotlight on Startups Revisited 14 Startup Business Statistics 15 Spotlight on Startups 16 PR Tips for the Political Startup 18 Startup Tips for the New Entrepreneur 19 When You Start Over: Things You Need to Know 20 Starting a Business? It’s Time to Get Organized! 22 Choose Wisely! 23 Helping RI Families Save for their Children’s College Education 25 Having a Website is Part of Doing Business 26 Preparing for 2015: Back to Basics 29 Smart Outsourcing 30 Strategies to Help Your Business Thwart Cyber Attacks 33 Sweeping Changes to Rhode Island’s Corporate Income Tax Regime 34 Happy 2015 from the North Central Chamber of Commerce 36 Preparing Rhode Island Youth to be Successful Professionals 37 Get a Fresh Start for the New Year with SBA Resource Partners 38 Celebrating 10,000 Jobs at Quonset Business Park 40 Why Customers Love Higher Prices 42 Rhode Island Association of Realtors Q&A 44 A College Degree Pays. Paying for it is Challenging. 45 Top SEO Trends for 2015, Part 1 46 Capital City 47 Distilling a Recipe for Success 48 Take a Stand with Your Personal Brand 50 Personnel Practices 53 Featured Nonprofit: Social Enterprise Greenhouse 54 Local Small Business Directory

ON THE COVER

Featured Startups: Planting Seeds and Waiting For Growth

Non Profit Social Enterprise Greenhouse

53 www.risbj.com | volume four issue one

SMALL BUSINESS

NEWS

Roger Williams University TO LEASE ONE EMPIRE PLAZA, DOUBLE ITS PROVIDENCE FOOTPRINT

PROVIDENCE, RI — In a move that will nearly double its footprint in downtown Providence and allow more students – law students, adult learners and undergraduates – access to enhanced learning and community engagement opportunities in the capital city, Roger Williams University has agreed to lease 76,566 square feet of space at One Empire Plaza from property owner Berkeley Investments, Inc. RWU President Donald J. Farish, Providence Mayor Angel Taveras and Berkeley Investments Vice President Barbara Smith-Bacon joined other city, state and community officials for an event at One Empire Plaza to announce the University’s expansion in Providence. When the University’s new space opens in May 2016 following a complete renovation, it will replace its existing Metro Center at 150 Washington Street. It will provide expanded space for RWU’s School of Law, School of Continuing Studies and growing array of outreach and engagement programs, including the Latino Policy Institute, HousingWorks RI and the Community Partnerships Center. With community-focused, project-based learning having emerged as a defining element of an RWU education, Farish says a larger, more geographically central presence in the heart of the state and city is essential. “This puts students at the center of the action and will translate to more real-world opportunities, which equip graduates with the practical skills that open doors in the employment world,” Farish said. “And for our community partners – the state of Rhode Island, the city of Providence and a great number of

RISBJ | rhode island small business journal

other municipalities and nonprofits in the region – this allows us to collaborate and to contribute faculty and student expertise on a greater scale, from a central location, on quality-of-life issues that affect Rhode Islanders.” The move serves as a long-term investment by the University in the city of Providence, its surrounding communities and local businesses and residents. With a 12-year lease beginning in May 2016, rent will total nearly $23 million dollars into 2028; that follows a renovation by Berkeley Investments that will total nearly $11 million before RWU takes occupancy. With much of the building’s activity to continue late into the evening, the expanded student presence will also benefit local businesses well beyond busy daytime commuter hours. “We are excited to have Roger Williams University expand its presence here in Providence and welcome RWU students, faculty and staff as they breathe new life into One Empire Plaza,” Mayor Taveras said. “This expansion will benefit local businesses, bringing more people downtown and showing them what our city has to offer. Furthermore, RWU’s increased presence downtown and its proximity to surrounding communities will provide more students with the opportunity to gain the practical skills and knowledge so valuable to rounding out their educational experience.” Berkeley Investments President Young K. Park noted the significance of the agreement with RWU: “With this long-term lease, Roger Williams University is the perfect partner for us at One Empire Plaza,” he said. “We are delighted that RWU

SMALL BUSINESS

NEWS

selected One Empire for its growing array of law, continuing studies and graduate programs, and we look forward to a long and successful relationship with the University.” The University’s presence in the six-story building will comprise the entirety of the first four floors and a portion of the fifth floor; the 76,566 square feet leased by Roger Williams represents approximately 75 percent of the building’s available office and retail space.

Dean Michael J. Yelnosky. “A law center in the city will also give us an opportunity to take advantage of our relationships with the legal community, forge other relationships and more easily and effectively collaborate with our partners. Providence is the hub of the legal, business and cultural communities in Rhode Island. Our new home offers an expanded opportunity for our students to be part of that.” The University’s School of Continuing Studies will be

The move serves as a long-term investment by the University in the city of Providence, its surrounding communities and local businesses and residents. A total of 18 classrooms with capacities ranging from 30 to 50 seats will be included on floors two, three and four. More than 100 conference rooms, meeting spaces and offices will be located throughout the building. A welcome area and gallery will invite visitors into the space and serve as a venue for special events. On the second floor, a satellite location of the Roger Williams University bookstore will be installed along with a graband-go café. With the University’s emphasis on immersing students in community-based projects, much of the space – and the technology to be installed before occupancy – is designed to allow students, faculty and community partners to collaborate effectively in group settings. The fifth floor, for example, will house the Community Partnerships Center, the Latino Policy Institute and HousingWorks RI – three key components in the Division of University Outreach and Engagement at Roger Williams. In addition to offices, a reception entry, flexible spaces, breakout rooms, research areas and meeting venues will allow for such work. The RWU Law space on the fourth floor will more fully integrate the law school’s clinical offerings and amplify its connection to the region’s legal community. There will be space for the Criminal Defense, Immigration and Community Economic Development clinics, along with classrooms and a flexible space that can be used as a mock courtroom, suitable for trial practice instruction and even use by state and federal court judges. The classrooms will be available to serve law students spending more time away from the Bristol campus, working in one of the clinics or in clinical externships in judges’ chambers, government offices, other public interest settings, or in the legal departments of corporations located in and around Providence. There will also be a branch office of the school’s Feinstein Center for Pro Bono and Experiential Education, home to the Pro Bono Collaborative, which partners law firms, law students, and community-based organizations to provide targeted pro bono legal services. The Providence building will make it even easier for students to take advantage of the law school’s unique clinical education guarantee. “We will be able to provide students even more value with a ‘home’ in Providence where they can engage in both experiential and classroom work – to see that those types of work are not separate, but feed and complement each other,” said RWU Law

headquartered on the third floor. The move to the larger, centrally located campus in downtown Providence is key to attracting adult learners to the wide range of credit-bearing degree programs offered through that school, as well as the non-credit offerings of the Professional Education Center. Through partnerships with the Rhode Island Department of Labor and Training and other local organizations and corporations, the School of Continuing Studies is helping to address the state’s needs for workforce development and professional education. “The central location will allow us to offer affordable, high-quality education to an ever-expanding share of adult learners in Rhode Island,” said Jamie Scurry, dean of continuing studies. “For students who have jobs, families and other commitments, this eliminates the typical barriers to education – practical things like travel time, parking, ease of access and more. The space itself is set up for collaborative, integrated learning; it will drive not just effective teaching and learning, but the entire culture of the School of Continuing Studies.” Classrooms will also be configured with the University’s rCloud virtual desktop platform and other technology enhancements for effective distance learning, key for many School of Continuing Studies students, particularly the many members of the U.S. military enrolled at RWU. Also included in the building are student and administrative spaces for many of the University’s graduate programs, including master’s programs offered in criminal justice, education and business. The University will be establishing parking agreements with lot operators near the facility prior to taking occupancy in May 2016. The University has worked with Providence-based Vision 3 Architects to plan for the new facility at One Empire Plaza. Columbia Construction Company of North Reading, Mass., will manage the renovation project, working directly with Berkeley Investments. The move to One Empire Plaza marks an expansion in the city where the University originated. In 1919, the Northeastern University School of Commerce and Finance opened a branch at the Providence YMCA. Thirty-seven years later – after multiple charters, names and even a complete shutdown during World War II – the school received a state charter to become a two-year, degree-granting institution under the name of Roger Williams Junior College. www.risbj.com | volume four issue one

SMALL BUSINESS

NEWS

GOVERNOR RAIMONDO A N N O U N C E S

H E R

PROVIDENCE, RI — Governor Gina M. Raimondo released the names and titles of the individuals who have been hired to serve in the Office of the Governor. “I am thrilled with the talented and capable people who will be joining my team in the Governor’s office,” said Governor Raimondo. “I am grateful for their service to our state and look forward to working with them every day on Rhode Island’s comeback.” Matthew Appenfeller, Director of Policy Development Eric Beane, Deputy Chief of Staff Matthew Bucci, Director of the Governor’s Office R. David Cruise, Legislative Director Meredith Curren, Director of Appointments Donna Dell’Aquila, Principal Project Manager/Executive Assistant Ron DeSiderato Jr., Special Assistant to the Governor Christine DiFillippo, Principal Project Manager/ Executive Assistant

RISBJ | rhode island small business journal

T E A M

M E M B E R S

Jennifer Fonduer, Office Manager Joy Fox, Director of Communications Kevin Gallagher, Deputy Chief of Staff Matthew Golderese, Constituent Services Associate Kelly Harris, Scheduler Heather Hudson, Policy Advisor Andrea Ianazzi, Special Counsel Brad Inman, Director of Constituent Services Olubunmi Lewis, Protocol Manager Amy Moses, Deputy Counsel Jason Natareno, Special Assistant to the Governor Stephen Neuman, Chief of Staff Katie O’Hanlon, Communications Associate Ashley Gingerella O’Shea, Deputy Director of Communications Talia Policelli, Deputy Legislative Director Claire Richards, Executive Counsel Abby Swienton, Policy Advisor Emmanuel Traub, Constituent Services Associate

SMALL BUSINESS

NEWS

JORGE O. ELORZA SWORN IN A S

3 8 T H

M A Y O R

O F

P R O V I D E N C E

Episcopal Diocese of Rhode Island, gave the Invocation. The Pledge of Allegiance was led by students from the first and second grade classes at the Lillian Feinstein School at Sackett Street. The National Anthem was performed by Ashley Soto, a junior at Classical High School who brought to life Mayor Elorza’s campaign theme song. Governor Gina Raimondo delivered greetings from the State of Rhode Island. Jamie Espinal, a teacher, poet and Christian hip hop artist, recited “The Time Is Now,” a poem written especially for Mayor Elorza’s Inauguration. The Oath of Office was administered by retired state Superior Court Judge the Honorable Judge Francis J. Darigan, Jr. PROVIDENCE, RI — Jorge O. Elorza was sworn in at 12 a.m. on January 5, 2015 as Providence’s 38th Mayor. The private ceremony, which marked the official transition of power in the City of Providence, was held at Mayor Elorza’s home with family and friends. Probate Court Judge John E. Martinelli administered the oath of office. Elorza, 38, a former Housing Court Judge and professor at the Roger Williams University School of Law, is the son of Guatemalan immigrants who worked in factories and was raised in the city’s West End. He graduated from Classical High School before going on to the University of Rhode Island and Harvard Law School. As a law professor at Roger Williams University, Mayor Elorza co-founded the Latino Policy Institute, a think-tank dedicated to research on Latino and minority communities in Rhode Island. While serving on Providence’s Housing Court, Mayor Elorza created a process to hold large banks accountable for abandoned properties in the city. Mayor Elorza began his first morning as Mayor by joining with local faith leaders at an Interfaith Breakfast held at the Providence Career and Technical Academy. Mayor Elorza’s public inauguration took place at 2 p.m. on the steps of City Hall, in front of a crowd of several hundred residents and dignitaries. The ceremony was free and open to the public. Victor Capellan, a community leader, educational consultant and co-chair of Mayor Elorza’s transition team, served as the Inauguration’s Master of Ceremonies. The Providence Fire Department and Providence Police Department Honor Guard conducted the Presentation of Colors. The Reverend Maria DeCarvalho, an ordained priest with the

Edward D. Feldstein, a Providence attorney and close friend of Mayor Elorza, presented the Mayor for his delivery of the Inaugural Address. “Now more than ever, we must be creative, we must be resourceful, and we must work together to launch our city forward,” Mayor Elorza said. “Providence’s prosperity depends on us. I am confident that, together, we will seize the moment and provide the leadership our great city deserves.” The ceremony will conclude with a Benediction offered by Dr. James P. Huguley. The Rhode Island Highlanders Pipe Band will perform during the exit processional. Following the inauguration, Mayor Elorza held a reception inside City Hall that was free and open to the public. At 7 p.m., Mayor Elorza hosted his One Providence Inaugural Celebration at the Cranston Street Armory, where there hasn’t been an inaugural celebration in decades. The inaugural celebration featured food and performances that highlighted Providence’s artistic, cultural and culinary scene. The inaugural celebration, which was free and was open to the public, was sold out. The celebration concluded with an exciting lineup of events held throughout the weekend to showcase Providence and promote community service. On Saturday, January 3, Mayor Elorza asked residents to celebrate their civic pride and give back to the community through volunteerism by participating in his One Providence Day of Service. Food items were collected for the Rhode Island Food Bank at venues across the city. The Providence Children’s Museum hosted the Children’s Inaugural Celebration. The event was free for Providence residents. No taxpayer dollars were used to pay for any of the inaugural events.

www.risbj.com | volume four issue one

LAID-BACK FITNESS

Open Date: September 2011 Address: 2800 Post Road, Warwick Website: laidbackfitness.com Facebook: pages/Laid-backFitness/115907211827268 Twitter: twitter.com/laidbackfitness Laid-back Fitness is on the grow! We still specialize in fun and challenging workouts, but we now offer birthday parties and Tough Mudder training programs in addition to personal training and group classes. We now have 7 employees and are still the only place in RI to train with MovNat Certified Trainers. As far as expansion goes, we are currently negotiating to triple our indoor space in Warwick and we have built an outdoor adventure park in Coventry called the Laid-back Forest! The Forest will be a destination for kids and grown-ups to train for a mud run, obstacle course, or Ninja Warrior! We expect to open in the spring of 2015. Our proudest moment was completing a Tough Mudder with a team of 38 people! This group of all ages and levels helped each other and finished together. This exemplifies what we are about: movement skill, camaraderie, mental toughness, and fun! Speaking of mental toughness, we have grown our New Year’s Plunge at Goddard Park, called the Frozen Clam Dip, in support of RI Mentoring Partnership. In 2014, we raised over $5,000 and had over 100 “clam dippers”! We expect the event on 1/1/15 to raise over $7,000!

BIRCHWOOD DESIGN GROUP

Open Date: June 2011 Address: 150 Chestnut St, 4th Floor, Providence Website: birchwooddesigngroup.com Facebook: pages/Birchwood-DesignGroup/153134088093776 As a small professional landscape architecture firm, Birchwood Design Group has experienced dynamic shifts in its growth since the first Spotlight on Startup article. BDG expanded its capacity to a total of four registered landscape architects and two designers. This increase in capacity has allowed the firm to focus on the quality of design and depth of service that it has always provided to its clients while expanding the breadth of its portfolio. The addition of

RISBJ | rhode island small business journal

SPOTLIGH T

young and talented staff has brought new energy and enthusiasm to the firm. The short-term growth of the firm created the need for an updated, livelier space that is a reflection of the company vision, while meeting BDG’s short-term and long-term goals. After an extensive search for space, BDG relocated to the Jewelry District. The move presented us with the opportunity to develop flexible space that meets the daily challenges of a design firm. Our open office concept allows for the effective flow of design ideas to permeate through the office and transform into concrete project solutions. The move also created the opportunity to expand upon BDG’s technology needs and add equipment that further enlarged the company’s capacity.

We are excited to continue our growth in the public, institutional, recreational and secondary education markets while strengthening our relationships with allied professionals and broadening our reach to encompass additional project types. We know our success is based on the clients we serve and we strive every day to deliver exemplary projects.

in RI Monthly and on The Rhode Show. We’ve always been proud to offer a fun and multi-functional product that is made in USA, so it’s very encouraging to have media acknowledgement. While My Méz started with my photos, we have since partnered with very talented photographers; hence, giving our customers more options. Customers can send their own photos or select from our versatile styles: nautical, wine-themed, floral, cityscapes, etc.

In our growth, we’ve also made efforts to give back. In 2013, we made Edesia our charity of choice and have been contributing towards preventing malnutrition. Our trademark got registered in 2013 and in late 2014 our products became tax-free! What’s next? A new and improved website with easier e-commerce options and growing our retail presence nationally and locally. Stay updated by following our social media pages and website.

MY MÉZ

Open Date: Fall 2012 Website: mymez.com Facebook: MyMezUSA Twitter: @MyMezUSA We’re a husband and wife team that launched My Méz in fall 2012. RISBJ did a spotlight on our startup in late 2012. Fellow entrepreneurs will agree that entrepreneurship is more than having a great idea; it involves planning, persistence and unequivocal passion. We’re humbled and honored to list our top five accomplishments since we were featured two years ago. Our artful trays and tables are retailing in five states: IL, MD, PA, RI, and NJ. They’re also online on Amazon.com and Houzz.com. Within Rhode Island, you can find our products at Chariho Furniture, McKay’s Furniture, Grapes & Grains and more. We also offer a WaterFire Providence My Méz line. My Méz has had incredible press coverage, including national trade publications such as Home Furnishings News, Home Accents Today and Gift Shop Magazine. We were thrilled by the two-page cover article in The Providence Journal’s Décor section, as well as being

RHODE ISLANDS’ OMEGA-3 DRESSINGS

Open Date: March 2012 Website: mymez.com Facebook: omega3dressings.com Twitter: @RIOmega3 Rhode Islands’ Omega-3 Dressings has recently received “certified organic” designation. Production under our redesigned organic label will begin in January 2015 at our co-packer’s plant in Warwick, RI. Rhode Islands’ Dressings, LLC was organized in 2012 with the goal of providing consumers with a convenient and tasty means to receive the health benefits of the omega-3 essential fatty acids. To do so, we created and launched an omega-3 fortified food line of salad dressings, marinades and sauces. We exclusively use the EPA (eicosapentaenoic acid) and DHA (Docosehexaenoic acid) forms of omega-3 fatty acids, the two forms of omega-3s that are specifically noted for heart and brain health.

Consumers are looking for healthier, easier and more nutritious options for their families. We have targeted the health-

T ON STAR TUPS conscious consumers at retail stores noted for natural and organic products. With the organic certification, we will be expanding our distribution throughout New England. As our brand recognition expands throughout the retail food sector, we will also look into food service to restaurants and institutions.

PREMAMA

RI WEB GURUS

Open Date: March 2012 Website: riwebgurus.com Facebook: RIWebGurus We are the RI Web Gurus. We believe in efficiency, simplicity, and giving YOU the power (if you want it). We do this by creating user-friendly products that look great, support your business, and yield results. We don’t just build websites; we design a unique online presence that drives your business. Since our company started in March of 2012, we have moved twice, gone through three website redesigns (to keep up with the trends and technology), and have gotten engaged! Anne has served a successful run as BNI President of her local chapter, while Craig has built our own content management system called Sym-Edit, which has been used to build a lot of our websites. We have worked with a lot of local businesses, and have served many who operate out-of-state, as far as California and Texas. Our ideal referrals are in the B2B sector, but we also build often for the B2C sector.

REV ISITE D

Currently, we have 5 flavors available: raspberry vinaigrette, balsamic vinaigrette, ginger plum, Caesar, and honey mustard. As we’ve been transitioning to organic ingredients, we have been testing and formulating several new flavors for launch in 2015. We are exploring sources of EPA and DHA from algae so that we can produce a vegetarian form of our omega-3 products.

Open Date: 2012 Website: drinkpremama.com Facebook: drinkpremama Twitter: drinkpremama Since the launch of Premama Prenatal Multivitamin Mix in 2012, Providencebased Luna Pharmaceuticals has expanded distribution and added new formulas to further the mission of healthier babies and happier mamas. By making prenatal vitamins easier to swallow with unique powder formulas that mix in cold beverages, smoothies, yogurt and more, the Premama team continues to impress moms and moms-to-be who are looking for an easier way to get daily essential vitamins and minerals, including B6, B12, iron and folic acid, just to name a few of the 11+ nutrients essential for prenatal health.

The highlight of the young company’s growth was the May 2014 launch of Premama Complete, a new formula designed exclusively for Target stores and now available at 1,200 stores nationwide and at Target.com. The company will expand even more in 2015 with the introduction of four Premama products, including new fertility and lactation formulas, at over 1,700 CVS stores nationwide.

We expect year three to be a turning point in our business, as we have created a solid reputation, and have designed some great packages that can really serve any website need and budget.

www.risbj.com | volume four issue one

Startup Business Statistics

More than 75% of all U.S. businesses

Small Business Increase %

are nonemployer businesses

1995

Over 50% of the working population (120 million individuals) works in a small business

2015

Small businesses have generated over 65% of the net new jobs since 1995

75.4% of successful entrepreneurs

worked as employees at other companies for more than 6 years before launching their own companies

18% of entrepreneurs succeed in their first venture 61% of startups have more than one founder All Statistical Information Provided By... - SBA, https://www.sba.gov/sites/default/files/FAQ_March_2014_0.pdf - â&#x20AC;&#x153;The Anatomy of an Entrepreneurâ&#x20AC;? by the Kauffman Foundation for Entrepreneurship - Harvard Business School

RISBJ | rhode island small business journal

61%

Spotlight | STARTUPS

Spotlight on Startups ForeverGreenRI Company Name: ForeverGreenRI Open Date: 11/11/14 Employees: One Address: Westerly, RI Website: www.ForeverGreenRI.fgxpress.com Facebook: OceanStateForeverGreenRI

Enchanting Cake

Biggest Challenge: Networking and spreading the word about my free samples of PowerStrips. When you’re willing to “share the love” and people don’t understand why I want to give it to them, they just assume I’m a salesman and don’t explore the possibilities of my offer. Profile: I am an independent distributor of FG Xpress, a subdivision of Forever Green International. My business is internet-based, and I offer several products, including PowerStrips, SolarStrips, and BeautyStrips. In my “Farmers Market,” I also offer vitamin and mineral supplements that contain Marine Phytoplankton (MP). MP are microscopic plants that grow in oceans and boast a nutrition profile of more than 200 vitamins and minerals; they’re considered to be the earth’s first super food. PowerStrips, which contain MP, are an organic pain relief patch and have additional health benefits when worn daily. SolarStrips also contain MP, and they are consumed orally like a breath strip for nutritional value. BeautyStrips are a naturally-sourced kelp seaweed mask. It is a beauty regimen designed with BeautyStrip Serum to rejuvenate the face and minimize the aging process. The reason I decided to start up a business with these products is because of the quality and uniqueness of the products and the amazing leadership of the parent company. My mission is to share PowerStrips, a FDA listed Class 1 medical device, with my friends, family, and community to raise awareness of natural pain relief. Also, I want to promote health and wellness and help others physically and financially. My goal is to share the love with all of Rhode Island!

Company Name: Enchanting Cake Open Date: 7/30/14 Employees: One Address: 2842B Hartford Ave., Johnston, RI Website: www.EnchantingCake.com Facebook: TheEnchantingCake Twitter: @EnchantingCake Biggest Challenge: Our biggest challenge is budgeting startup costs. I used my life savings on the startup, so I needed to budget and shop around for the best prices on quality products. Seeing that this would be my only job, I needed to ensure after I opened that I would still have money left to carry me through the first couple of months until my business would be profitable. Profile: Enchanting Cake specializes in custom cake creations. Give me a theme, and I can make a great cake just for you! In our shop’s storefront, we offer a variety of gourmet cupcakes. Some cupcakes are my own recipe, while others are family recipes and recipes I have found to be great. We also offer an assortment of other desserts and treats including cookies, brownies, cannoli, muffins, turnovers, etc. We are adding more as time goes on. www.risbj.com | volume four issue one

SMALL BUSINESS | PR Tips For The Political Startup

pr tips f

Politi by Nancy Thomas

As this issue is focused on small business startups, it is also a good time to realize that we have many new political startups happening all around us in our state. From a new governor, to a new mayor of Providence, to statewide office holders, local legislators and the host of staff who will become employed in all the new administrative levels of government.

As we think back to those leaving office, what can we learn? What early missteps did they make? How did they put a structured plan together to inform the people they serve? Did they recognize that the media is also an audience to address? Who did well and who began to spiral early on? Who never quite got out of the vortex, and, well, the rest is political history? What advice might we lend from the PR profession? It is to all of our advantage that the newly elected succeed and thrive and their platforms and initiatives bolster our business climate, create more and better paying jobs, and get Rhode Island back on solid ground with streamlined business processes, taxes and fees; a strong educational system; a better-trained workforce; improved tourism and healthcare; reduced crime; and support systems for those in need. Here are our tips for PR success:

The Media

They aren’t your friends. But they aren’t your enemies, either. Unless, of course, you choose to ignore them. The media are the watchdog for the people. They will hold up your campaign promises and platforms and see how you are doing. But if you treat them with respect and honesty, and are savvy about their timelines and what they need to do their job, you’ll have an open opportunity to speak to the people, and be treated fairly. Be cautious about playing favorites. In this rapid career path and changing media world, who’s here today may be gone tomorrow.

Bad News

We want to hear about it from you. It’s bound to happen. Something isn’t going to go right. A promise will be broken. A disaster. A scandal. Who will you get your advice from? Is your inner circle prepared? And where are those from the past who’ve lived through similar times and events? Who has institutional history? Anyone at all? Call upon them. Enlist their help. Historical lessons are significant to your present. Always seek counsel from those outside of that inner circle that can give you an insulated perspective. And remember, they are also looking at their own job security.

RISBJ | rhode island small business journal

PR Tips For The Political Startup | SMALL BUSINESS

for the

ical Startup Good News

We want to hear that, too! Keep positive and share accomplishment. Share the credit, too. Involve the people who will be most impacted by this success—they will inspire us all.

Social Media

Don’t ignore it. Learn it like a pro. Former Mayor Cory Booker derived much of his positive feelings by the savvy use of Twitter. Oddly enough he credits learning by watching Ashton Kutcher. OK, whose platform do you like? Watch and learn. Have a social media policy for your staff. That doesn’t mean asking them to delete all their social media accounts; it means educating, supervising, and monitoring this important communication vehicle, which is only growing in importance. Be careful about scheduled posts and tweets; they can seem insensitive if they run up against current events. Used correctly, social media can be your best friend. Yes, it can.

Emails & Texts

While not PR per se, email traffic and informal chatting can spell doom and gloom, primarily for people, not policies. Establish a clear policy about what you want and do not want discussed on email, shared, or copied. Texts can be shared, too, so be cautious—again, this is a great tool if used wisely. And loose lips, well, they can sink careers.

Photo Opps

Cut the grand opening ribbons and hug the babies, but use moderation. Don’t hold a press conference if there is nothing to say. Don’t be afraid to hold one to share bad news, either. A word to the ladies: it’s OK not to smile all the time. A word to the men: it’s OK to smile. It’s OK for everyone to pause, to say you don’t know, but you will find out. Watch the jokes and don’t bury the personal side.

Talk Radio

Be smart; learn how to use it. It can be your bully pulpit. Or it will be the people’s. Talk with the people. It will keep you on your toes. Consider a monthly time to come on and take questions. Try it. You may not love it, but that’s OK. It’ll keep your staff, and you, sharp. And you may find you’ll have a warmer reception from ‘the people’ than you think.

Spin Doctors

Yes, it’s what we do for a living. And many of us are very good at it, but more of us are bad at it than we’d like to admit. Be careful in relegating speeches and statements to others; put your own spin on it. Your words should sound like you. Be honest, forthright, hopeful, and truthful. PR people get upset when you get in trouble, and we’ll do our best to help, because we really do take it personally. We’ll lose sleep over the littlest wrong sound

The media are the watchdog for the people. They will hold up your campaign promises and platforms and see how you are doing.

bite. But this isn’t a training video for a master’s class in public relations. It’s your future. Our future. Own your words.

Small Business

Remember us! When you find a great company doing great things, yes, we all want to know. But don’t drag them around to every show and tell. There are lots of unsung business heroes out there with a great story to tell, or a need to be answered. Look deeper than those companies and leaders that float to the surface.

Talk, but also listen!

Draft an op-ed to a newspaper. Send a small business feature to RISBJ. Send out a weekly newsletter. Drop by at a business function where you aren’t speaking, but you can spend a half hour at a cocktail reception or networking opportunity just shaking hands. Hold some structured forums. But don’t overlook the informal opportunity to show that you are listening to all the people, the best you can.

Don’t do the unexpected

There are still things we don’t expect you to do. They will be different for each person. Buddy Cianci could ride a police horse down Main Street. Angel Taveras couldn’t—Mayor Elorza probably can’t—but he can jog at Roger Williams Park on Sunday mornings. Just make the informal, fun stuff reflect the nature of who you are, and of your office. Make it relevant to you.

Stumbles

You will. Dust yourself off. Get back up. America—and Rhode Island—loves the comeback success. Move quickly. Watch the advisors around you. Eyes straight ahead, lessons learned, apologies first. Don’t be afraid to say you were wrong. Then jump back in again. Confucius said, “Our greatest glory is not in never falling, but in rising every time we fail.” You can do it. We know you can. It’s why we elected you. Nancy Thomas Tapestry Communications www.tapestrycommunications.com

www.risbj.com | volume four issue one

SMALL BUSINESS | Startup Tips For The New Entrepreneur

Startup Tips F O R

T H E

N E W by Melissa Withers

In working with startups, I have seen just about everything, from unexpected victories to painful losses, magnificent pivots to total strikeouts. Consumer behaviors and market trends change like the wind. The benchmarks investors look for are always shifting. The breakneck pace of technology carries a few startups to victory, countless others to defeat. The world of startups is wacky, wild and wonderfully unpredictable. Given this, the newest entrepreneurs I work with—those taking the plunge for the first time—want advice on avoiding pitfalls and finding success. Sure, my partners and I at Betaspring (a startup accelerator) and at Founders League (a support and coworking community) offer advice on technology, team and customer traction. More often, we try to hammer home the lessons that, on the surface, seem simple but reflect the discipline and courage it takes to bring an idea to life. These are usually the hardest lessons to learn. STAY ON TRACK For startups, wandering can be good. Or, it can kill you. Founders who take exploring “tangential opportunities” to the extreme face two risks: tangents suck up resources and the business dies, or sideline ideas become an excuse for not working on the hard problems that truly matter. Founders need to be nimble and ready to seize unexpected opportunities… but successful ventures know how to pick a dot on the horizon and keep aimed at getting there. If startups had autopsies, “distraction” would be a leading cause of death! TAKE ADVICE, LEAVE ADVICE A good startup community is a huge warehouse of advice, with each aisle and shelf loaded with insights and ideas. Founders must learn to walk these aisles and decide what to take and what to leave. The winning equation isn’t getting good advice;

For startups, every minute wasted without making progress is one minute closer that a company is to death. 18

RISBJ | rhode island small business journal

E N T R E P R E N E U R it’s getting good advice at the right time...and knowing how to implement. Creating strategies for managing the inflow of feedback and ideas is paramount to achieving balance between over- and under-reacting. Literally, this means having a strategy, as an individual and as a team, for tracking advice and ideas, evaluating how and when to act, and developing a protocol for decision making. GROW UP, FAST Time is precious, often more so than cash. For startups, every minute wasted without making progress is one minute closer that a company is to death. Nothing has killed more startups than running out of time. Founders can “Google their way to victory” by searching for information, rather than toiling away in ignorance. Leaders are made, not born. So, if you fall down, get up. If you have an argument, resolve it. If your product or business model is knotted in a twist, straighten it out. And if you are unsure how to solve a problem or resolve an issue, do not delay in reaching out for help. If you think you are saving face by hiding your problems, there’s a good chance your venture will go down in flames. Melissa Withers Chief of Staff Betaspring

When You Start Over: Things You Need To Know | SMALL BUSINESS

WHEN YOU START OVER

T H I N G S

by Patricia Raskin

My Story

I returned to my New England roots after 15 years in North Carolina, arriving in Rhode Island at the beginning of the recession in 2008. I was committed to investing my limited personal resources to start my business in RI and build upon what I had in NC. I had to create a new business model that would allow me to cover startup and operating expenses, and I was essentially starting over. I went through trial and error to find out the best business strategy. I hired a seasoned professional in the beginning, and she got me on the right path. I seized the opportunity

Y O U

N E E D

to use and integrate my teaching and counseling educational background, my strong networking skills, my on-air radio communications skills, and my innate desire to help others transform their problems into solutions.

Philosophy

In my first book Success, Your Dream and You, I outline my 5 P’s to success, which are Purpose, Planning, Passion, Persistence and Patience. Your purpose guides you, your plan focuses you, your passion motivates you, your persistence gives you new direction and keeps you going when the going gets tough, and your patience brings you the trust and faith you need to stay on your path. I added a sixth P, which is prayer. This is individual, and it works.

look at a three- to five-year plan, but don’t get overwhelmed. Progression is each step and this steady movement counts.

T O

K N O W

7 To-Do’s for a Startup 1. Create a Business Plan Know what your purpose is. What is the overall vision? How do you get there, step by step? Have three-, six-, and nine-month goals and one-year goals first. Then look at a three- to fiveyear plan, but don’t get overwhelmed. Progression is each step and this steady movement counts. 2. Get Help Find an advisor. There are great no-cost, low-cost resources here in RI that will help you write your business plan and will provide strategic planning advice. SCORE is a great resource, as well as The Center for Women & Enterprise. 3. Be Versatile Have one theme but more than one avenue. For example, I am a radio broadcaster, facilitator, coach, speaker and trainer and through all of my positions, I have the ability to help people transform problems into solutions and see the positive side. 4. Have Grit If you believe in what you are doing, you can succeed. You may have to regroup, go down another avenue, or restructure, but those who make it, have grit and resilience. They find a way. 5. Let Your Passion Show If you love it and the overall gain supersedes the overall pain, you’ll stick with it. Add grit and resilience to passion, and you have a winning combination. 6. Review Financials Put figures on a spreadsheet and review them every month. This is so helpful to let you know what you are spending and where. 7. Follow Your Intuition Listen to your advisors and let the numbers talk. Then follow your instincts. They rarely fail as long as you look at your business from all aspects. Patricia Raskin Raskin Resources Productions www.patriciaraskin.com

www.risbj.com | volume four issue one

SMALL BUSINESS | Starting A Business? Itâ&#x20AC;&#x2122;s Time To Get Organized!

S T A R T I N G

B U S I N E S S ?

Being organized will allow you to save money, have more free time, and be more efficient and productive.

RISBJ | rhode island small business journal

Starting A Business? It’s Time To Get Organized! | SMALL BUSINESS

by Kristin Carcieri-MacRae

Starting a business can be an exciting, crazy, and stressful time. If you are disorganized, you will create more work for yourself and you aren’t going to work at your potential. In order to maintain organization in your office or home office, you need to have systems in place for processing day-to-day functions. Without systems, you will become overwhelmed and stressed. With working systems, you will become efficient and productive, along with many other benefits that come with being organized. Have a system to:

PROCESS YOUR MAIL. Many people have difficulty with paper

management. Most have difficulty setting up and following through with a system. I can’t stress this enough: process your mail every day. As soon as you touch it, either file it, attach it to your to-do list to take care of it during the week, shred it or handle it right away. It will be easier to take five minutes and tackle it when it arrives than to spend maybe hours on it at the end of the month.

PROCESS YOUR EMAIL. Create categorized folders. Have a

process to handle an email as soon as you open it. Treat it just as you would treat your physical mail. Decide whether to send it to a folder, trash it, act on it, or print it and attach it to your to-do list. Remember, sometimes it’s easier to pick up the phone and discuss than to send numerous emails back and forth.

WORK WITH A TO-DO LIST. Keep a running to-do list. Whether

you keep a to-do list on paper or in your electronics, just do it. Make a to-do list every night before you leave work. You will know exactly what you need to do when you arrive to work the next day. This process will keep you on track with your day. You have a lot to worry about when you are starting a business; clear the mental clutter by getting things out of your head and onto paper. The less clutter you are carrying around in your mind, the better.

FILING SYSTEMS. Create a filing system during the beginning phases of your business. Without filing systems, piles will form, chaos will ensue and you are going to start your business behind the eight ball. If you need to locate an important paper, you should be able to locate it in less than ten seconds. Keep files that you utilize on a daily basis close to you. Files that you use less frequently, you can keep in another area of the office. I’ve seen many important business deals fall through, and I’ve found significant sums of money and very important documents in piles of papers on desks because business owners didn’t have filing systems in place. KEEP TRACK OF YOUR BILLS. When a bill arrives on your desk or through email, be sure to have a process in place to pay these bills. If you are receiving bills through the mail, create a system where the bills aren’t lying around on your desk

buried under papers. You’ll forget to pay them or pay them late. Incorporate bill payments into your calendar to remind you to pay and file them immediately after they are paid.

BUSINESS CARDS. When you start your new business, you are going to meet many new people. You must develop a system to file your business cards. Whether it is through electronics, a good old Rolodex, or a binder with clear card inserts, you must have a system. Work with it for a little while and tweak it after a few months. HANDLE PHONE CALLS AND VOICEMAIL. Set aside time to retrieve and return calls. Keep a message pad for your messages. Utilizing a book will allow you to refer back to important dates, conversations and phone numbers. Try not to keep sticky notes or loose message papers on your desk. Utilize your calendar to remind you to follow up with clients in a timely manner. Clients will have more confidence in you if you are organized. WORKSPACE. Have a place for everything at your desk. Only keep items you use on a daily basis on your desk. At the end of the day, your desk should be clear. Have an organized pile that you need to work on the next day with your to-do list on top of the pile. Try to avoid having a corkboard at your desk with too much information pinned to it. Less is more. Keep it contained to a binder or stored on your computer. Utilize drawer organizers and organizing supplies to keep you organized.

SYSTEMS HAVE TO WORK FOR YOU. Just because your fellow business owners have a smooth system that works for them, doesn’t mean it will work for you. Evaluate how you function and create a system that works for you. The more complicated the system, the more likely it is to fail. Keep the system simple and streamlined. Many offices I work with have made attempts at getting organized, but the systems have failed and a new attempt at another system was never made. Once you create a system, revisit the system in a couple of months and tweak what isn’t working to make it work better for you. TIME MANAGEMENT. Be as efficient and productive as you can

be. If you are a disorganized person, you have to get organized in order to have great time management skills. Take a look at your physical space, get organized and then you’ll realize that your time management skills may fall into place, allowing you to be more efficient and productive. Being organized will allow you to save money, have more free time, and be more efficient and productive. You’ll have less stress and more energy, and your clients will have more confidence in you when you are organized. Kristin Carcieri-MacRae Owner Organizing in RI, LLC

www.risbj.com | volume four issue one

SMALL BUSINESS | Choose Wisely

Choose Wisely!

by John Robitaille

Thinking about launching a new business, selling an innovative product or developing a new technology? Becoming an entrepreneur and quitting your day job can be both liberating and risky. But fear not, there are many resources available to guide and support you on your journey. In fact, the range of options can be overwhelming, confusing and conflicting. So, remember what the old crusader told Indiana Jones in the movie The Last Crusade, “Choose wisely.” The consequences of making the wrong choices early on can be problematic to say the least.

models don’t work for the passionate entrepreneur who wants to “create, scale, operate and possibly franchise the brand.” The expectations of the founders are clearly different and require a diverse set of resources, specialized advice and business planning. So, if you’re taking advice, or offering advice as a mentor, remember this: being a mentor is a huge responsibility. Make sure you have the experience and the knowledge before you offer advice, as those words of wisdom could lead a fledgling entrepreneur down the wrong path. Good intentions alone are not enough.

Select your resources thoughtfully and choose your mentors as carefully as you would choose your physicians. You wouldn’t go to a podiatrist for heart surgery, so don’t look for a tech mentor if you’re planning to open a new restaurant.

The same holds true for lawyers and accountants. You’ll need specialists who have had experience with startups, especially if yours requires patents, licenses or multiple rounds of funding. A good accountant coupled with the right attorney will save you money and keep you out of trouble with the IRS and the SEC.

Some believe that tech sector models work for small business startups as well. They don’t. “Create, fund, scale, exit”

Honing your business skills will improve your chances of success. Helpful small business workshops and seminars run

RISBJ | rhode island small business journal

every week, most touting everything you need to know about starting a business and finding resources. But, don’t get trapped in the workshop-networking comfort zone. Make the rounds and learn what you can. Then overcome those lingering fears and execute what you’ve learned. Having fear is natural, so learn to manage it. There’s a lot of chatter about not going it alone. It takes a village, a team or something like that. I get it. Leverage your strengths and find others to do the rest. But beware: by taking on partners, you take on the added challenges of dividing responsibility, resolving conflicts and settling disagreements. So, once again, choose wisely. Good friends don’t always make the best business partners. If there’s a proven and affordable outside resource available, you might be better off hiring than partnering. Breaking up is so much easier to do with outsiders. Physical resources are important, too. Working out of your basement or dorm room has its limitations and might not be the most productive or creative working space. That’s why accelerators and incubators are popping up in

Helping RI Families Save For Their Children’s College Education | SMALL BUSINESS

The consequences of making the wrong choices early on can be problematic to say the least. every major city across the nation. To varying degrees, most offer co-working space, storage, offices, workshops and networking. Some offer highly structured accelerator programs with funding for those who attain certain milestones. Remember, one size does not fit all. Look for space and a program that meets the needs of your particular venture. When looking for financial resources, you have fewer options. While it’s not likely a commercial bank will lend money for a startup, you never know. Money to buy equipment or other tangible assets is easier to secure than funding for operations or marketing. And, when sourcing for equipment and supplies, never buy if you can lease and never lease if you can borrow. Also, choose vendors and suppliers who will work with you. Ask for lines of credit and favorable payment terms. You never know until you ask. As your startup gains traction, you’ll need additional resources and assistance with HR, operations, marketing and more. There are many local firms, agencies and business consultants in the area. Go for the best and negotiate the most advantageous terms for your venture. Everything but quality is negotiable. Remember, just as there’s a risk-reward factor in starting a new venture, there’s a short-term – long-term strategy with partners, suppliers and vendors. Think long-term, choose the best and never compromise on quality, value or integrity. There’s too much at stake.

Helping RI Families Save for their Children’s College Education by Gina Raimondo

Rhode Island families are struggling, and so we are making it easier for them to save for their child’s college education. I know firsthand the importance of saving for higher education. I wouldn’t be where I am today if my parents hadn’t worked hard to save for my future. Earlier this month, I announced enhancements to the CollegeBoundbaby program that will help Rhode Island families save and pursue higher education opportunities for their children. The enhanced initiative was announced at the Community College of Rhode Island and featured an interactive forum with educational groups, researchers and policy makers from across Rhode Island and the country. Starting January 1, 2015, it will be easier than ever for Rhode Island families to take advantage of a $100 CollegeBoundbaby Grant that is offered through CollegeBoundfund, the state’s 529 plan. The initiative is in partnership with the Rhode Island Higher Education Assistance Authority (RIHEAA). Collegeboundbaby is an innovative program designed to significantly boost the number of Rhode Island families with college savings.

information to RIHEAA to award the CollegeBoundbaby Grant for their child. Rhode Island residents who adopt a child may self-enroll the child within the first year of adoption. The grant may be used at any higher education institution, whether it is a college of trade, technical, or vocational school. The $100 contribution will be invested by RIHEAA in a CollegeBoundfund master account on behalf of the child until the child is ready to attend a higher education institution. Investing in higher education is one of the best ways for Rhode Island to succeed in the future. A strong economy depends on a skilled workforce. People with a college degree are more likely to be employed than those without one, and are more likely to be employed in a job that provides quality of health and retirement benefits. This initiative makes Rhode Island one of only three states in the country to provide universal children’s savings accounts. This is a true example of how government agencies can work together to help Rhode Islanders. I look forward to continuing to improve higher education opportunities for Rhode Islanders. Gina Raimondo Rhode Island Governor

Through the newly enhanced CollegeBoundbaby program, parents of newborns check “yes” on their in-hospital Birth Certificate Worksheet to allow the Rhode Island Office of Vital Records to release the necessary contact

John Robitaille, Executive in Residence, Larry Friedman International Center for Entrepreneurship at Johnson & Wales University

www.risbj.com | volume four issue one

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Having A Website Is Part Of Doing Business | SMALL BUSINESS

IS PART OF DOING BUSINESS •

Plan. Take time to think about what you need. Maybe all you need is a basic site with a few pages. Or, if you are selling a product, you may need an e-commerce site to enable you to sell your product online. Look around at different websites (including competitor sites) and make notes about what you like and don’t like.

•

Work with a professional. Please work with someone who knows what they are doing and who can deliver a welldesigned site that can help you meet your business (and sales) goals. You need a website that is easy to navigate, easy to read, and contains all needed elements.

•

Once you have an actual website budget, you can embark on creating a website for your business.

Start small. Do a site with a few pages (a smaller site costs less to build), and add more pages as your business grows. Maybe all you need right now are a few pages: a product or services page to talk about what you are selling, an about us page (to talk about you and your business), and a contact page. Do you really need a custom website, or can your designer customize a template instead?

•

Building a website is easy, if you know what you’re doing. If not, building a website can be a nightmare. Here are key points to keep in mind to make the most of your budget:

Ask for an open source content management system. An open source system will allow you to take control of your site and do many of your own updates.

•

Create meaningful content. Think about what you need. You may have much of what you need. Take a look at anything you have written for your company (e.g., PowerPoint presentations, Word documents, etc.). It might be a matter of editing and re-formatting for the web. No one knows your business better than you do, and creating some of your own content will help you to keep control of your budget.

by Paula Mottshaw

Potential clients and customers do research before purchasing goods and services. They read articles, talk to friends and colleagues, review Google search results, and visit the company websites. Having a website is part of doing business. But, you’re a startup. You have lots of work that needs to be done. The stress only intensifies if you are a one-person business and are responsible for everything, AND on a shoestring budget. You may have limited funds, but you can still have a presence online, including a website. If you truly have $0 to dedicate to a website, you can use social media in place of a website, temporarily. Before jumping in, take time to think about your potential customers/clients and which social media channels they use. Wherever your customers/clients are, that is where you need to be. Choose one or two, and then do it, and do it well. It’s better to do one or two well than to do a bad job at trying to handle several.

•

Purchase a domain name. The name should make sense for your business, and should be as short as you can make it. This is something you can do yourself.

•

Wait to purchase hosting. The company where you purchased your domain name may sell hosting services, but don’t feel pressured to purchase. Just because a hosting company is cheap, it doesn’t mean that they are good.

Take the process one step at a time, and you will get there. Paula Mottshaw Freelance Creative www.mysimpledesignsolution.com

www.risbj.com | volume four issue one

by Larry Girouard

With the election season finally over, it is time to look toward 2015 for our businesses. While politicians seem to exaggerate with impunity regardless of the facts, businesses do not have that luxury. Customers see through the fluff in a product offering quickly, and choose their providers wisely in today’s connected society. As business owners and management teams look to a fresh beginning at the start of every new year, it is important to place on the table the generic question, what needs to change? I am asked that question frequently and always address it the same way. The success of sales and market penetration initiatives are fully aligned with the strength of a company’s value proposition.

The Corporate Value Proposition

From the customer’s vantage point, it does not matter what is going on inside your company; customers could care less. What is important to customers, existing and target, is what is coming out of the company in the form of product quality, ontime delivery, lead times, communication effectiveness, and other service elements.

So the key question that needs to be addressed by owners and management is, what can we do to improve the value proposition of our company? For the answer to this question to have any meaning, a company must, and I mean must, be able to quantify all the elements of the current value proposition. This is where the rubber meets the road. Most companies have no measurements that frame the performance of their value proposition from the viewpoint of the customer. To not have metrics on the current performance level of a company’s value proposition severely compromises any initiatives for its improvement. With the cornerstone of any market penetration program being steeped in the power of its value proposition, to ignore the customer’s view of a company’s performance is disrespectful to both the market and the company’s employees.

The Role of Emotion

With emotion playing a key role in maintaining the status quo (the “we have always done it this way” syndrome) how does an owner and the management team approach the change process? The most successful companies that have negotiated the change curve are ones that have looked at their company as a series of integrated processes, taking much of the emotion out of the discussion.

Since most companies have a very small

market share, efficiency programs should not be a threat to employee security

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Back to

Every internal corporate process, every process, is laced with inefficiencies. Take the quoting process for example. In most companies, the request for quote (RFQ) is handled by many people and corporate functions. Mapping out all the elements of the quoting process, including options if questions arise during the process, will reveal many parts of the process that could be eliminated or shortened. The ultimate goal is to compress the RFQ time without compromising the quality of the quote. I have seen quote times for the more complicated quotes go from weeks to days. This type of improvement in RFQ response, being part of the value proposition, is particularly important because once the quote is complete, the sales department is back on offense. Processes are processes, and emotion compared to measurement plays only a minor role. One only has to look at any element of a manufacturing process. These processes are all mechanical, designed to optimize time while maintaining the highest standards of quality. While employee emotion regarding buy-in to the emerging process is important, emotion serves little value in the actual process itself.

Employee Involvement

Making a commitment to change using a structured and measured approach is most important. This methodology will fail, however, without the complete engagement of the employees, whose performance is responsible for driving each of the processes under review. If management decides to make changes, and drive these changes down the organization chart, this change will not be sustainable.

Basics

Employees must be the focus for designing and implementing the suggested changes, if these changes are expected to be a sustainable part of the emerging culture. Employee buy-in plays a very important role here because if they are involved in process development, they will most likely drive the emerging changes with enthusiasm.

Back to Basics

This is really all about process optimization leading to a value proposition that has real, and quantifiable, value. This is basic to any management approach to change. Improving the flow of material, paperwork and communication through a company has no downside. Since most companies have a very small market share, efficiency programs should not be a threat to employee security, especially if the nature of the efficiency program is fully disclosed at the outset. An improved value proposition will help to increase sales by capturing additional market share. Because the company is more efficient through these process optimization efforts, as sales grow, management will NOT have to increase the number of employees at the same rate. This will have a positive impact on the sales/employee and profit/employee numbers resulting in a cash flow model that will allow management to reward employees for their efficiency efforts. Process optimization results in the basic win-win that all owners, managers, employees, and customers covet. Process optimization is simple, very visual, and provides the cornerstone for any corporate change initiative. Larry Girouard President, The Business Avionix Company

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Smart Outsourcing | SMALL BUSINESS

Smart Outsourcing by Marti Del Negro

Small business owners wear more than one hat. They are the owner, marketer, CFO, HR director, employee, and the list goes on. In Volume 3, Issue 11, the New Year’s issue, RISBJ’s founder challenges small business owners to clearly define what it means to “grow” our businesses, asserting that growth is both relative and subjective. Amen to that! Defining growth is tricky because it requires a clear strategy that includes both increased sales AND improved efficiencies. You know your business and what needs to be done to increase sales, so let’s discuss the second part of growth strategy: improved efficiencies and, more specifically, how to create efficiencies through outsourcing. By definition, outsourcing is simply contracting with another company or business to do a particular function, and it has

become common for small business owners and entrepreneurs for good reason: it can be an effective way to grow your business. It’s important to know that all businesses outsource in some way and typically not because they can’t perform the services themselves, but because another business specializes in that particular service and so they do it at a much lower cost. That’s the key. If someone else can do it at a lower cost than you can, consider outsourcing it. That’s only the case though if that function isn’t a cornerstone of your business. Never outsource what you are good at because it is the reason you started your business and the thing that makes you money.

Small business owners wear more than one hat. They are the owner, marketer, CFO, HR director, employee, and the list goes on. Consider this: very few business owners do their own legal work or file their own company taxes, but there are countless tasks small business owners are doing that someone else can do for a lot less money. For example, you could create your own website, or do your own digital marketing or billing for “free.” If you do it yourself, you’re not paying anyone else to do it, right? But if you’re doing this work, you’re NOT doing the work that makes you money. If you charge $100/hour for your services, you’re actually spending $100/hour for every hour it takes you to do it yourself. You’re not generating any income by designing your own website or doing your own billing. You’re not growing. So unless things like administrative and personnel functions, event planning and management or customer billing are part of your product and service offerings, and unless they actively earn you income, consider outsourcing them so you can focus your time, effort and expertise on activities that contribute to your growth. Live and work well. Marti Del Negro Owner bENE Lifestyle Management

www.risbj.com | volume four issue one

SMALL BUSINESS | Strategies To Help Your Business Thwart Cyber Attacks, Protect Systems And Secure Digital Assets

STRATEGIES TO HE

T H WA R T C Y B E R AT TA C K S , P R O T E C T S Y

Cyber attacks against small and medium size businesses (SMBs) have skyrocketed by 72% in the past 18 months according to Symantec 30

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Strategies To Help Your Business Thwart Cyber Attacks, Protect Systems And Secure Digital Assets | SMALL BUSINESS

ELP YOUR BUSINESS

Y S T E M S A N D S E C U R E D I G I TA L A S S E T S by Frank Motta

In a matter of a few years, the internet has consolidated itself as a very powerful platform that has changed the way we do business and the way we communicate. It has also opened the door to vulnerabilities of staggering proportions. Public- and private-sector organizations alike have been victims of cyber thefts of sensitive information, breaches of privacy, cybercrime, and cyber disruption (e.g., denial-of-service attacks). If you think your industry or company is exempt, you should think again! Cyber attacks against small- and medium-size businesses (SMBs) have skyrocketed by 72% in the past 18 months according to Symantec, a leading provider of SMB and enterprise-class security solutions. Cyber criminals are now starting to focus more on soft targets, especially small businesses, which typically have less protection and fewer resources. Indeed, after a spate of high-profile cybersecurity breaches at major companies like Target and, more recently, Home Depot, JPMorgan Chase and Sony, the biggest players generally have strong protections, both in terms of technology and staff, to secure their proprietary information. But smaller companies and vendors, who can’t afford expensive security measures—and yet store some of their larger clients’ sensitive data—are now in the crosshairs of sophisticated hackers. The result has been a digital arms race between cyber attackers, who look for new ways to circumvent the security solutions that companies put in place, and vendors and end-users, who are perennially on the lookout for new ways to improve the security of their solutions and policies. Securing a business against increasingly sophisticated and frequent cyber attacks, computer viruses, hacked websites, or even a well-intentioned but careless employee can seem daunting, particularly if an organization is of modest size and does not have a “crack team” of cybersecurity experts on staff. Protecting systems and digital assets requires a holistic, company-wide methodology to minimize an organization’s exposure to cyber criminals. While there are established, but constantly changing, best practices and low- or nocost solutions for SMBs, the emphasis should be first and foremost on prevention and mitigation strategies, such as internal security policies, employee training and continuing

education, system patching and protection, and use of best practices (safe internet, email, and desktop practices). Most cyber incidents are caused by lack of education and training or human error. In fact, internal threats posed by an unqualified or disgruntled employee with trusted access to a sensitive system and information cause 80 percent of small business security problems. While technological solutions are vital to protecting information and systems, their efficacy is limited if it is not effectively adopted and implemented by the management team and used by skilled employees who follow well-defined processes. Don’t assume that employees already know everything they need to know. All employees should receive proper training and periodic re-training. Other ways to keep employees up-to-date with the latest threats and make sure that they don’t sidestep basic standards of best practices is by distributing pamphlets, posters, newsletters, and videos; rewarding them for good security practices; and employing regular phishing security tests (PST). Statistics show that companies with employee cybersecurity training programs experience 50 percent fewer cyber incidents caused by their own personnel. Disaster recovery planning represents another important aspect of protecting a company’s overall brand and value. Every company should do more than just having data backed up on a tape. There should be a well-documented and well-exercised disaster recovery plan. Building a comprehensive DR plan before a breach happens is fundamental because even all the prevention measures that you can put in place are never going to protect you all the time—you need to know what you’re going to do in case of a cyber incident. This should include identifying, locating and backing up all the critical files in your system; testing restoring procedures regularly; setting up offsite storage for the system’s backup; having welldefined business continuity options; and knowing who is in charge of the DR plan. For today’s SMBs, cybersecurity solutions and services can be outsourced, especially in light of budgetary constraints and lack of internal resources that many businesses experience while still needing to be on the lookout for an escalating number of threats and increased complexity of cybersecurity. Frank Motta Executive Vice President CAI Managed IT

www.risbj.com | volume four issue one

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Sweeping Changes to Rhode Island’s Corporate Income Tax Regime: Is Your Organization Prepared? | SMALL BUSINESS

Sweeping Changes to Rhode Island’s Corporate Income Tax Regime I S

Y O U R

O R G A N I Z A T I O N

by Brian K. Jordan and Benjamin L. Rackliffe

Significant modifications to Rhode Island’s corporate income tax system were contained in the state’s 2015 fiscal year budget approved by the General Assembly and signed into law by Governor Chafee in June of 2014. Described by the state’s tax administrator as constituting some of “the most sweeping changes to the structure of Rhode Island’s corporate income tax since 1947,” and effective beginning January 1, 2015, orientation and acclimation should be made a priority in every business’ queue. Some of the most notable reconfigurations to Rhode Island’s corporate income tax regime will be seen in combined reporting, single sales factor apportionment and the reduction or repeal of certain corporate tax rates and taxes. Combined reporting will be mandatory for all C-corporations subject to the business corporation tax under Rhode Island General Laws and which are under common ownership and engaged in a unitary business. This reporting will apply to businesses operating in Rhode Island, regardless of whether the common business is conducted in additional jurisdictions. Special rules regarding the payment of estimated taxes will also apply. On the other hand, S-corporations, partnerships, disregarded entities and certain limited liability companies treated as “pass through” companies will not typically be subject to combined reporting.

With the new tax year quickly approaching, it is imperative that corporate decision makers not sit idle and wait for the Division to provide further instruction.

P R E P A R E D ?

In essence, starting January 1, 2015, there will be two sets of rules for apportionment: one for C-corporations subject to the business corporation tax, and another for other corporate entities. Under the revised laws, single sales factor apportionment will be mandatory for all C-corporations subject to tax under R.I. Gen. Laws 44-11, regardless of whether such corporations are subject to combined reporting. Moreover, several of the special apportionment formulas used by many C-corporations in past tax years, including the “certified facility apportionment exclusion,” retirement and pension plan apportionment, and manufacturers’ apportionment, will no longer be available to such corporations in the coming year. The special apportionment provisions may, however, continue to be utilized by other entities. Perhaps the most eye-catching changes to Rhode Island’s tax laws is the reduction of the business corporation tax beginning this coming tax year. Starting January 1st, C-corporations subject to that tax will be taxed at a reduced rate of seven percent, whereas in the 2014 tax year, they were subject to a nine percent tax rate. Equally noteworthy, Rhode Island’s franchise tax under R.I. Gen. Laws 44-12 will be repealed and ineffective beginning New Year’s day. While the Rhode Island Division of Taxation has indicated its intent to issue regulations and guiding instructions to corporate entities in order to facilitate the smooth transition into these drastic tax law changes, only limited guidance has been issued to date. With the new tax year quickly approaching, it is imperative that corporate decision makers not sit idle and wait for the Division to provide further instruction. With this being the season for annual budget approvals and key business decisions for the coming year, corporations must be proactive in educating themselves on the implications of these changes to ensure their businesses do not fall behind or run afoul of the law. Brian K. Jordan PLDW Director of Government & Legislative Strategies

Benjamin L. Rackliffe PLDW Attorney

www.risbj.com | volume four issue one

SMALL BUSINESS | Happy 2015 From The North Central Chamber Of Commerce!

HAPPY

2015

From The North Central Chamber of Commerce by Deborah Ramos

It’s a new year! Let’s make 2015 a new year for you AND your business! The North Central Chamber of Commerce continues to proudly serve the small business community in the Towns of Johnston, North Providence, Smithfield, Scituate, Foster and Glocester! Together, let’s make 2015 a great year for ALL! We welcome having a talk with you on how the North Central Chamber can assist you in growing your current business; better yet, are you starting up a business? That’s the best time to talk! Give us a call at (401) 349-4674.

at 2022 Smith Street in North Providence. We welcome you to join us for some great networking, food and drinks; please be sure to register at www.ncrichamber.com. Considering starting up a business in 2015? First there’s the dream, then putting it on paper. Find the location, but don’t forget that one important factor: business banking! Mark your calendar for our first Business Booster of 2015, Business Banking & Finance scheduled for Wednesday, January 28, 2015 from 8:00am-9:30am. The workshop will be held at Kountry Kitchen, located at 10 Smith Avenue in Greenville. Of course, a continental breakfast will be included.

First there’s the dream, then putting it on paper. Find the location, but don’t forget that one important factor: business banking! Kicking off 2015, we look forward to the installation of our new Board of Directors, taking place at our Annual Meeting of the Board of Directors on Thursday, January 22, 2015 from 3:30pm-5:00pm at the North Providence Town Hall. Following the meeting, you’ll find our great group of folks at RI Billiard Bar & Bistro for our January Business After Hours from 5:00pm-7:00pm. RI Billiard Bar is located

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So, start strategizing your 2015 with the North Central Chamber of Commerce. We look forward to your participation. Please visit us at www.ncrichamber.com and register online. And, again, we wish you a prosperous and happy New Year! Deborah Ramos Executive Director North Central Chamber of Commerce

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SMALL BUSINESS | Preparing Rhode Island Youth to be Successful Professionals

Preparing Rhode Island Youth TO BE SUCCESSFUL PROFESSIONALS by Dr. Ronald G. Shapiro

Do you think that Rhode Island’s sons and daughters are well prepared to become successful professionals? While listening to a local radio station earlier this month, I heard a disturbing discussion indicating that many youth were not prepared with even basic knowledge about the world of work. Thinking back about my experiences interviewing job candidates, I have observed that even college graduates, sometimes those with advanced degrees, are not prepared to present themselves optimally as job candidates and really are not aware of employer’s expectations. Let us take a few moments to do a self-assessment for our children and encourage our employees to do one, too. You may use this information to develop a meaningful company program for the 22nd Annual Take Our Daughters and Sons To Work®2 (TODASTW) Day on Thursday, April 23, 2015 (or another date if April 23rd does not work for you). In addition to being meaningful, please be sure that your program is fun! If your business is too small to have a meaningful program, perhaps you could work with your local business association, Chamber of Commerce, networking group or other professional organization to sponsor a TODASTW event. Additionally, you may wish to use the results of your assessment to plan future family activities.

The assessment:

Have your sons and daughters in a developmentally and ageappropriate manner:

1. Contributed in a meaningful way to one or more important projects? Have they: a. Articulated what the project was and why it was important? b. Explained their role in the project, what they contributed, and why their contribution was valuable? c. Documented the project so that they will be able to reference it as they prepare college or job applications? 2. Successfully participated in a team project? Have they analyzed: a. Their own involvement and what made them successful and how they could have been even more successful? b. The team dynamics and what could have made the initiative even more successful? 3. Learned what business and capitalism are all about? Do they know: a. What profit and loss are? b. How to maintain a budget?

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4. Communicated effectively with people from diverse backgrounds and different ages in a business setting? 5. Demonstrated, beyond reciting a job title, they know what you and other adult family members and friends do at work? 6. Managed their time (and perhaps the time of others) successfully? 7. Successfully negotiated solutions to problems without parental involvement? 8. Demonstrated care and compassion for others? 9. Articulated clearly, and convincingly, a point of view that is completely the opposite from theirs? 10. Explored potential careers in science, technology, engineering and mathematics (STEM), which may be of interest to them as well as a benefit to our nation? 11. Observed (and perhaps helped) you or other professionals in a business setting? 12. Prepared a Results Oriented And Relevant (ROARing) resume for themselves and participated in a real or a series of model interviews? While affirmative answers to most or all of the above questions do not guarantee success in the workforce, they, combined with successful school performance and a career choice that is aligned with the child’s strengths and interests, should go a long way to strengthening the chances of a successful career. I would like to thank Industrial Consultant Dr. Margarita Posada Cossuto for helpful comments. Dr. Ronald G. Shapiro Independent Consultant in Human Factors Learning & Human Resources

Get A Fresh Start For The New Year With SBA Resource Partners | SBA

G E T A F R E S H S TA R T F O R T H E N E W Y E A R W I T H

SBA Resource Partners by Seth A. Goodall

At the U.S. Small Business Administration (SBA), we’re all about jumpstarting and elevating America’s small businesses. Collaboration with SBA resource partners is essential to our mission of helping small businesses, the engines of our economy, start and grow. SBA resource partners provide quality one-on-one counseling, training and mentorship that can help to unleash your small business potential. In fiscal year 2014, these efforts helped small businesses get more than $4.7 billion in capital infusion, start over 13,500 new companies, and create and retain more than 70,000 jobs. SBA resource partners are available to help you build your small businesses, whether or not you’ve received SBA assistance. There are a handful of SBA resource partners that can cater to your small business needs or concerns. SBA’s resource partner network is comprised of SCORE, Small Business Development Centers (SBDC) and Women Business Centers (WBC). In addition, 15 organizations serve as Veterans Business Outreach Centers through cooperative agreements with SBA’s Office of Veterans Business

SBA resource partners are available to help you build your small businesses, whether or not you’ve received SBA assistance.

Development. Overall, SBA’s resource partners make small businesses a big deal with large impact. Small Business Development Centers (SBDCs) counseled and trained 485,487 clients; SCORE, For the Life of Your Business, counseled and trained nearly 442,000 clients; and Women’s Business Centers (WBCs) provided assistance to 140,037 clients. SBA’s vast network of resource partners is smart, bold, and, accessible. They serve and mentor the dynamic demographics of the United States, including women, entrepreneurs over the age of 50, veterans, and millennial entrepreneurs. SBA resource partners have helped the small business community raise startup and growth capital, start new companies and sell billions of dollars in products and services globally. One business that received SBA resource partner assistance is Eala Vahn Studio. Heather O’Neil received help from The Center for Women and Enterprise for the development of a business plan to secure the necessary financing to make her small business dreams come true. If you’re thinking of starting, growing or managing a small business, connect to your local SBA District Office at www. sba.gov/local. You can also search the nearest SBDCs, SCORE chapters, and WBCs to empower your next small business move. Seth A. Goodall New England Regional Administrator U.S. Small Business Administration

www.risbj.com | volume four issue one

10,000 Jobs by Speaker of the House Nicholas Mattiello and Senate President Teresa Paiva Weed

Rhode Island celebrated good news recently with the announcement that more than 10,000 people now work at the Quonset Business Park, and at its Port of Davisville. We joined with Governor Lincoln D. Chafee, Governor Gina Raimondo, U.S. Senator Jack Reed, U.S. Senator Sheldon Whitehouse, U.S. Representatives Jim Langevin and David Cicilline and others at the Business Park on December 8th to celebrate this achievement. As Governor Chafee said at the event, “[The] announcement is proof that if we invest in our assets, modernize our infrastructure, and provide an attractive environment where businesses can grow, we can create more jobs and strengthen our economy.” We could not agree more. Quonset is now home to almost 200 companies, employing more than 10,000 people in every sector of the economy. Since 2005, when the QDC was established, the Business Park has added more than 4,000 new jobs. Quonset is also home to the Port of Davisville, one of the top ten auto importing sites in North America. The celebration of 10,000 jobs was held at AmWINS Group Benefits, a wholesale health insurance broker, which moved to the Business Park in August 2013. The company develops, distributes and administers benefit programs to businesses of all sizes across a wide range of industries. Since arriving at Quonset, they have grown from 100 to 125 employees. Today,

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the healthcare industry accounts for almost one fifth of the workforce in Rhode Island. Justin Jay of Warwick, RI, who was recently hired by AmWINS, was recognized at the event as the “10,000th Employee” at Quonset Business Park. He received a special plaque and proclamation from the Governor’s Office to mark his unique role in Quonset’s success. How has this milestone been achieved? It’s been a joint effort. Since 1974 the federal government has invested $460.3 million at the Business Park, while $206.1 million has been invested by the state. Meanwhile, the private sector has more than doubled those figures, investing nearly $2 billion to help their companies grow. The QDC works diligently to support the Park’s tenant companies as they strive for success. For example, there are two lease incentives offered to all new land lease tenants of the Park. One incentive provides companies with a discount based on the length of their lease, while the other incentive is based on wages paid to employees. Together, these two programs help create a more business-friendly environment with transparency, fairness, and predictability. These programs are available to all new tenant leases, from the largest company to the smallest. Another innovative tool to attract new business to the Park is the QDC’s Site-Readiness program. As part of the program, the QDC has completed all the engineering that a developer

Celebrating 10,000 Jobs At Quonset Business Park | SMALL BUSINESS

k r a P s s e n i s u B at Quonset would conduct through their “due diligence” to get a project underway. Further, the QDC has secured all required baseline permits from state agencies. The General Assembly has also played a key role at Quonset. This past year, Rep. Bob Craven and Sen. Roger Picard successfully sponsored legislation ensuring that a $6 million grant from the U.S. Department of Commerce’s Economic Development Administration (EDA) could be executed to complete some necessary repairs in the Business Park. In 2012, the Legislative Port Commission, chaired by Sen. William Walaska and Rep. Deborah Ruggiero supported $7.5 million in revenue bonds for a crucial dredging project at the Port of Davisville. The project required no taxpayer funding; the bond debt is being financed entirely by the Quonset Development Corporation (QDC) from operating funds and increased port revenues. The growth at Quonset has not happened overnight. However, with smart, thoughtful planning and a team effort from all levels of government, the Business Park has become a major engine of economic growth and job creation for Rhode Island. Quonset Business Park is a real success story, and we should all be encouraged by that success. The close to 200 companies growing there and the more than 10,000 people working there are helping to move Rhode Island forward. Nicholas Mattiello Speaker of the House

Quonset is now home to almost 200 companies, employing more than 10,000 people in every sector of the economy. Since 2005, when the QDC was established, the Business Park has added more than 4,000 new jobs.

Teresa Paiva Weed Senate President

www.risbj.com | volume four issue one

SMALL BUSINESS | Why Customers Love Higher Prices

by Doug Atkins

We’re all intelligent people. If you’ve learned anything in business, it’s that cheap attracts cheap. We’ve all had experiences with those types of customers. You have this thrifty customer and all they do is try to barter you down, arguing over every darn nickel. But your time is valuable. You don’t want or need those hagglers. So, let’s talk about making money…a subject we’re all interested in. Below are six reasons why you must charge your customers higher rates than your competitors in order to stay in business. 1. More profits – That’s basic economics—higher price leads to more profits. Other than Walmart, how often do you see low-price companies actually surviving? Sears couldn’t. Kmart disastrously failed. In fact, Walmart has been bringing in higher priced items. 2. Better customers – Price truly does a great job qualifying customers. The ones that pay $.99 for an eBook are the critical ones. Think about the past when you’ve offered free advice to a customer, or perhaps they asked how to do something. How often did you get thanked, and how often did that advice generate a noticeable gain in income? Not a lot, I’m sure. Mercedes or BMW owners don’t care what their new cars cost, and in fact, buyers even brag to their friends how much the car costs! Cater to that market, not to those who drive 1998 Chevy’s. And, just stop and think for a moment…when was the last time you saw a Mercedes S65 in a Walmart parking lot? 3. Pricing psychology works in your favor – Risking a cliché, you get what you pay for; it’s common sense. Often, cheap things are perceived as cheap. I never shop for price. As far back as 1939 in the book The End of Economic Man, Peter Drucker wrote that man no longer reacts rationally to financial challenges, and how true that is. By and large people don’t buy on price,

Cater to that market, not to those who drive 1998 Chevy’s. And, just stop and think for a moment…when was the last time you saw a Mercedes S65 in a Walmart parking lot?

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especially in this day and age. Everyone needs 5 TVs in their home. Everyone in the family needs smartphones, laptops, and gaming hardware. 4. The more you charge, the better value you can afford to deliver – If you battle for price, nothing’s left to provide additional value. Make sense? After all, it comes down to the customer. To truly be successful and keep them coming back, you really need to WOW your customers. With slim margins, there’s nothing left to provide the great service that consumers demand these days. 5. You will dominate the market – Obviously, acquiring new customers costs more than getting more business from existing ones. Unfortunately, we must chase new accounts. If you’re scrapping by on small profit margins, there’s simply no money left to seek new business. What’s the great thing about charging premiums? It gives you needed cash to pursue new business. Then it snowballs—you get more customers, you provide them with great service, they refer their friends, and the cycle continues. The effect will crush your competition. 6. Acquiring new business costs more, but you still win – Say you launch a direct mail campaign to install new heating systems, and your competitor also does a mailing to tune-up old systems. They are going to be running all over town chasing nickels and dimes; however, all you have to do is make a few hits and you’ll make whatever he does and more. Less work, more revenue—it’s pure economics. So, those are the six reasons customers will love you for charging more. How do you justify higher prices? I’d love to hear. Let’s keep the conversation going.

Doug Atkins Marketing Manager Paul Revere Revolutionary Service

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www.risbj.com | volume four issue one

SMALL BUSINESS | Rhode Island Association Of Realtors Q&A

Rhode Island Associati

Philip Tedesco, the new CEO of the Rhode Island Association of Realtors (RIAR) and State-Wide Multiple Listing Service (MLS), has taken the job at a time when Rhode Island’s housing market finally seems to have a firm footing in recovery. Traversing cross country from his former post as CEO of the Tucson Association of Realtors and Multiple Listing Service (MLS), Tedesco is no stranger to the ebbs and flows of real estate. We caught up with him to ask him his views of the housing market in 2015 and what he thinks are the hot issues for homeowners and Realtors in the coming year.

First, we have to ask…what drew you to Rhode Island?

I was considering moving from the local association level to the state level for some time. However, I was reluctant to give up running the MLS in Tucson because of how much I enjoyed it. When I reviewed the description of the job at the Rhode Island Association of Realtors, I found out that the job included running State-Wide MLS as well, which was incredibly attractive. The fact that the position is with a statewide association is obviously another plus. Additionally, the job posting read, “Incumbents with the ability to look past the ‘status quo’ of Association operations and challenge us to consider innovative opportunities in our ever changing real estate industry are welcome.” I thought to myself, I like the way the leadership is approaching this transition…the rest, as they say, was history.

Q: The Rhode Island Association of Realtors is one of Rhode Island’s largest professional organizations with a strong voice

looking at the home buying environment today, recent statements made by Federal Reserve Chair, Janet Yellen, have indicated that mortgage interest rates will likely remain relatively stable through the spring. 42

RISBJ | rhode island small business journal

Rhode Island Association Of Realtors Q&A | SMALL BUSINESS

ion of Realtors Q&A

for housing issues at the State House. Which issues are of the biggest concern to you?

What initially caught my attention is the current unemployment rate in Rhode Island. If the District of Columbia is included in the counts, there are only four states that have a higher unemployment rate. Obviously, this is not a recipe for success as it relates to housing. I am anxious to see how Governor Raimondo and the General Assembly plan to address this, and how the Association has the opportunity to contribute to the effort.

Q: Essentially, as independent contractors, Realtors—your members—are their own small business. Any advice for them in achieving success? A: I hope that they will take advantage of the programs, products, and services that the Rhode Island Association of Realtors has to offer. For instance, we offer more than 100 classroom and online continuing education courses to help our members stay current in the field. Included in these are designation courses that can help them develop specialties that can enhance their business. We also offer a free legal hotline for members and access to State-Wide MLS and its affiliated consumer-oriented websites, RILiving.com and RILivingCommercial.com.

Perhaps even more important, I would also encourage them to join us in our efforts to be a unified voice at the State House. Ensuring that Rhode Island’s legislative and regulatory climate is friendly to small business and homeowners is something that our association is extremely concerned about and the more members we have working toward that end, the better.

Q: And finally, the question everyone wants answered: what do you predict will happen in the housing market in 2015? A: I call that a “Crystal Ball Request.” Of course I’m not able to predict the future, especially in a new, less familiar environment. However, looking at the home buying environment today, recent statements made by Federal Reserve Chair, Janet Yellen, have indicated that mortgage interest rates will likely remain relatively stable through the spring. In addition to that, the job market is improving and overall, consumer confidence appears to be increasing. If the current trends continue, I feel optimistic that we should see further recovery in Rhode Island’s housing market in 2015.

Philip Tedesco CEO of the Rhode Island Association of Realtors (RIAR) and State-Wide Multiple Listing Service (MLS)

www.risbj.com | volume four issue one

SMALL BUSINESS | A College Degree Pays. Paying For It Is Challenging.

A college degree pays.

Paying for it is challenging. by Ted Donnelly

As parents, we understand the value of obtaining a college education in today’s competitive workforce. According to the U.S. Census Bureau, a typical college graduate earned $11,749 in the last three months of 2011, nearly three times more than a high school dropout’s salary of $4,026. And for most with graduate degrees, the median earnings were $15,733 for the same period.1 But, even though a college diploma can pave the way to greater advancement and earnings potential, paying for it still remains a challenge for most American families. A recent Christian Science Monitor article reports that the average tuition for a public, four-year state school rose 5% in 2012 to $8,655 per year. And, at private institutions, students need to shell out a staggering $39,518 per year for tuition, fees, and room and board. All told, in the past five years, tuition costs for private schools have increased 13% beyond overall inflation.2 Even as college tuition and other costs reach unprecedented levels, there are still plenty of options available to help ease the financial burden. Look into available state and university scholarships, financial aid packages, special college savings plans, and low-cost loans. Here are some steps you can take to make the whole process as easy and as painless as possible. •

Improve your credit score. Establishing good credit can help you secure the low-cost loans you may need—and save thousands of dollars. RISBJ | rhode island small business journal

Even as college tuition and other costs reach unprecedented levels, there are still plenty of options available to help ease the financial burden.

•

Plan for the unexpected. Estate planning and the right kinds of insurance will help protect against the derailment of your child’s college plans.

•

Save smart and early. Gain a significant advantage and maximize your resources by choosing the college savings plan that’s right for you.

•

Ask relatives to share the responsibility. Talk to grandparents and other relatives about contributing money to your college fund.

•

Encourage your children to save. Teach your kids to start saving for college early by putting aside a portion of their monetary gifts.

College is a major investment in your child’s future. And, like any investment, it is wise to do as much early preparation and research as possible. It may also be beneficial to consult an experienced financial professional who can advise you based on the specifics of your situation. This educational, third-party article is provided as a courtesy by Ted Donnelly, Agent, New York Life Insurance Company. 1 The Wall Street Journal, “College Grads Earn Nearly Three Times More Than High School Dropouts,” Neil Shah, April 2, 2013. 2The Christian Science Monitor, “College Costs Keep Rising Faster than Inflation, Survey Says,” Philip Elliott, Associated Press, August 13, 2013.

Ted Donnelly Agent New York Life Insurance Company

Top SEO Trends For 2015 | SMALL BUSINESS

TOP

TRENDS FOR 2015 | PART ONE

by Chris Sheehy

Quite often, the small talk we have with the businesses we meet, as well as with industry colleagues, revolves around the current state of SEO best practices. From SEO Experts to DIY SEO dabblers, everyone seems focused on making 2015 the year of discovery for small business. For me, January has always been a time to reassess client strategies for the upcoming year. This is when I take both a retrospective assessment of what has worked in 2014 as well as a look into the future at what will impact small business visibility on search engines in 2015. The following SEO tips are what I predict for the upcoming year (or at least until the next algorithm change). I didn’t list them in any particular order, so while you read along try to envision how your business stacks up against these objectives.

CHEERS TO YOUR DISCOVERY IN 2015! Citation Building A citation is any mention of a business’s (complete) contact information, and for local businesses, it’s one of the most important elements for local discovery. Citation building (think Yelp, Google Plus, and YP.com) not only offers a direct link to your business, but it also plays a vital role in quantifying your contact information and building online brand recognition and authority. Content Marketing Creating and sharing stories that drive purposeful action or provide intentful branding shouldn’t happen by chance. The notion that social media would be the marketing bullhorn for business hasn’t exactly worked as expected. Content marketing in 2015 will need to have the end solution planned in advance of publishing. Shares and likes are too easy to gain and haven’t been all that successful in driving significant monetary ROI. Effective content

marketing in ‘15 needs to drive quantifiable lead generation, sales or branding. Image & Video Optimization Image and video sharing sites like Pinterest, Instagram, YouTube, and Vimeo, and the increasing importance in organic image/video search will continue to drive the demand for image optimization. Did you know the file name of images and videos is the most important element impacting online discovery? You’re not alone if you didn’t. Keyword Research As long as search engines answer search queries by interpreting text or voice input, using the right words to market your business will remain the most powerful attribute of any online marketing activity, on any channel, through any source. The axiom that content is king is nearly correct, for it is the (key)words of that content that truly rule the marketing world—online and in print. Map Marketing For brick and mortar businesses, online discovery is only half the job. Driving that traffic to their door is the second part, and being listed on the most popular map and GPS services will be vital as personal-mobile and in-vehicle connectivity usage continues to skyrocket. Meaningful Interaction Receiving social engagement through keyword-focused intentful wording will trump by-chance likes, shares, and retweets in the upcoming years. And it’s about time, too – I love Saturday as much as you do, but social signals are just far too easy to gain, so the value of their signal potential has so far been under-realized. Social interaction needs to focus on providing customer service and driving sales, leads and branding. Meaningful marketing with calculated interaction will add measurable value to social marketing in ‘15. Chris Sheehy SEO Specialist

www.risbj.com | volume four issue one

What Clams Me About SMALL CAPITAL BUSINESS CITY | Building || How To Manage New Providence A Remote Worker or Office SMALL BUSINESS DearThe Mom: A Taught Letter Home From ALeadership One Day Warrior

BUILDING THE NEW PROVIDENCE by Mayor Jorge Elorza

On Monday, January 5, 2015, Jorge O. Elorza took the oath of office as Mayor of the City of Providence. The following is a condensed version of his Inaugural Address. I am honored to serve as Providence’s 38th Mayor, and excited to work with every stakeholder in our City to build the New Providence. We will move our City forward by creating a government that is open, accessible, and easy to navigate for everyone who lives, works, and visits Providence. In the coming weeks and months, we will realign our departments to better serve our residents, and create new opportunities for me, my staff and department directors to spend time in our neighborhoods listening to the concerns of residents.

hospitals draw world-class talent and human capital to our city. Our neighborhoods are anchored by vibrant business districts. Providence has so many other strengths: our diversity, our architecture, and our quality of life. We will grow our economy with the raw materials at hand. A friend of mine often says that “we can do anything, but we cannot do everything.” That means that we have to be strategic and intelligent and build on our strengths. Everything we need to become a successful city is already here. There is no better place to start than on our working waterfront. With a deep-water channel, the port is significantly underutilized and ready for renewed investment and attention. As Mayor, I will lead the effort to double Providence’s imports and exports and create good-paying, blue-collar jobs

OUR WATERFRONT, HIGHWAYS, RAIL LINES AND INTERNATIONAL AIRPORT ARE OUR GATEWAY TO THE REST OF THE WORLD. Creating jobs and growing our local economy will be among our highest priorities. Our waterfront, highways, rail lines and international airport are our gateway to the rest of the world. Providence’s universities and research

46 46

RISBJ | rhode island small RISBJ | rhode island smallbusiness businessjournal journal

that offer a real path to the middle class for all of our residents. We will link local businesses with international firms; we will take part in trade missions; we will work to foster

lasting business relationships; and we will connect Providence’s economy to the rest of the world. Our waterfront, our highways, our rail lines, and our international airport are our gateway to vast global markets. The New Providence, with its diversity and its homegrown entrepreneurship, will lead the way. Aside from our waterfront, we are so fortunate to have world-class universities and research hospitals here in our city. We have the human capital and the talent base that are the envy of the world—whether it’s all of the gifted young artists and designers at RISD, the master chefs of tomorrow studying at Johnson & Wales, or the many talented and idealistic people studying at RIC to be teachers and Brown to be doctors—we have world-class talent right before us. We live in a city that is 140 years older than our nation. Providence has persevered through everything from the American Revolution to the Industrial Revolution, the Great Depression to the Great Recession, the Hurricane of ’38 to the Blizzard of ’78. And we have risen to every challenge history has brought us. We begin this administration with great energy and optimism – knowing that the best days of our City are ahead of us, and that with hard work and dedication we will do incredible things for Providence. Together, we will make Providence the City that works!

Distilling A Recipe For Success | SMALL BUSINESS

Distilling

A Recipe

F O R

S U C C E S S

by Chris Barnett

There is a company in Our Backyard that has gone from the drawing board to international honors in less than five years. Sons of Liberty Spirits Co. distills craft whiskies in a 250-gallon still in a former South Kingstown mill. The company is proud to be challenging century-old whiskey traditions by focusing on American Single Malt Whiskies born from distinctly flavorful beers as well as the first-ever seasonal line of whiskies.

home 15 medals in domestic and international competitions. “We realize that a major factor to success is the quality. We buy the grain. We mill it. We distill it. We age it. We test it. We make the whiskey. We need to keep that authenticity. We’re focused on keeping that product quality while growing and continuing to push the whiskey envelope,” he says. You can see that commitment in the Pumpkin Spice Flavored Whiskey that won the “World’s Best” award. Reppucci explains that Carpenter’s Farm in South

We’ve been blessed by the people of Rhode Island, believing in us and supporting us since the beginning. Its name reflects the founders’ unconventional beginnings and revolutionary spirit, according to Founder Mike Reppucci. “I was a kid in finance and I quit my job to start a distillery. How dumb is that, but how American is that? One thing we have in the U.S. is that entrepreneurial spirit. We’re not afraid to take that shot or take that risk. And I’m really proud of that,” he says. “We’ve been blessed by the people of Rhode Island, believing in us and supporting us since the beginning. That’s the coolest part.” The business has exploded since becoming the first US craft distillery to win a “World’s Best” award in Whisky Magazine’s World Whiskies Awards in 2014. To date, the distillery has taken

Kingstown grew a special varietal of pumpkin that ripens a little early in order give him plenty of time to brew his seasonal. Then his team, along with many loyal and enthusiastic fans, really gets to work. “We literally wash all the pumpkins, chop them in half, and core them out with ice cream scoops. Then we roast them and press out as much fresh pumpkin juice as we can,” he says. The team went from just 2,000 lbs. of fresh pumpkins in 2012, to a tremendous 32,000 lbs. in 2014. You can visit the distillery year-round to take a tour and get a taste of the fine spirits coming out of our Ocean State. Chris Barnett Senior Public Affairs Officer Rhode Island Foundation

www.risbj.com | volume four issue one

SMALL BUSINESS | Take A Stand With Your Personal Brand

Take a Stand with your T he I mportance by Lisa Shorr

I remember interviewing for my first “professional” job more than 20 years ago. I was preparing to interview for a receptionist position in a small adhesives manufacturing company. Perusing the local newspaper, my eyes fell on this position. I knew I could do the job, so I circled the ad and dialed the phone number. Preparing for my upcoming interview, I went shopping for a new navy suit, wrote my first resume and practiced smiling in the mirror. My confident and jovial phone skills helped me earn an interview. I brought my enthusiasm with me as I stepped through the glass doors of the office. I met with the president and general manager, who took turns tossing questions my way—they even asked me pretend to answer the phone! Thankfully I was prepared for this volleyball match. I was hired! That was my new home away from home for the next four years. I gained a lot of valuable knowledge about myself from that experience. I learned how impactful verbal and nonverbal skills are when presenting myself, either on an interview, a meeting, or any client-facing interaction. This was my first epiphany of understanding the importance of building my own personal brand. Like a corporate brand, our personal brand is how others perceive and trust us. We buy name brands such as Johnson & Johnson because it represents several generations of quality family products. Same holds true

RISBJ | rhode island small business journal

for our personal brand. People buy from you or me based on those same ideals. Fast forward to today. The art of building your personal brand still entails verbal and nonverbal skills. However, technology and social media has added a new twist to self-promotion. Think about your clients. Are most of them doing business with you because of their relationship with you or with your company? I am sure your answer is the relationship with you. Reputation is the foundation of your personal brand. So how do you create and maintain your personal brand? After more than two decades of career growth, from receptionist to business owner and entrepreneur, here is what I have learned: 1. Choose your attitude - This is one of the four tenets of the famous Fish! Philosophy. No one says that everything is going to be easy, but it is better to go into a situation with a positive attitude than that of fear and defeat. People feed off of the energy you emit. Choose happiness! 2. Care about what you wear – As a stylist, I always ask my clients: “You have 3 seconds to make a great first impression – what would you like everyone to see?” If you show up to a meeting dressed inappropriately, i.e. ripped jeans and a t-shirt, the first impression will be a lack of interest in the client. However, showing up in a professional outfit sends the message here I am, I care about you and I am ready to do business. Remember, you want to choose the right attitude internally and externally.

Take A Stand With Your Personal Brand | SMALL BUSINESS

Personal Brand

P romoting YOU!

showing up in a professional outfit sends the message here I am, I care about you and I am ready to do business. Remember, you want to choose the right attitude internally and externally. 3. Socialize with intention – Look at your local paper. The job ads have dwindled to barely half a page, if there are any listings at all. Our need to network via the virtual or social media conversation is just as important as meeting peers face-to-face. Employers and job seekers use social sites, such as LinkedIn, to post jobs and screen candidates. HR departments Google prospective hires to see where their names link to. Be intentional about whom you connect with. Link to colleagues you know, or even professionals you do not know if they are in your field or target market. Follow and comment on relevant blogs and consider starting your own. Being known as an expert in your field is one reason you get hired. 4. First Impressions - Building rapport by attending multiple social events is an effective way to establish your referral base. This is where your first impression is most important. Confidently introduce yourself with smiling eyes and a strong

handshake. Remember, as they say, “It’s who you know!” 5. Resume – Just as personal appearance and personality are the aesthetic side of the interview process, your resume provides the facts. Address, work experience, education and contact information are necessary to reinforce why the potential employer is interviewing you. Take time to research strong key words to describe your previous job functions, and use Spell Check to look for errors. Too many spelling errors sends the message that you aren’t careful enough. We promote our personal brands every day in our professional lives. Our appearance and attitude, both in person and in social media conversations, are all aspects that a prospective employer or client uses to establish respect and trust. It takes more than a phone call to get noticed. You need to take a stand to be heard… Lisa Shorr Image Consultant Shorr Style

www.risbj.com | volume four issue one

SMALL BUSINESS | Best Practice Tips For Separation Of Employment

Personnel Practices

Best Practice Tips For Separation Of Employment by Matthew R. Plain, Esq. & Kristen M. Whittle, Esq.

In today’s economic climate, employees tend to switch jobs frequently. According to the Federal Bureau of Labor Statistics, as of January 2014, the median number of years that workers had been with their current employer was only 4.6 years. An inevitable part of being an employer is handling situations in which employees leave the company, either voluntarily or involuntarily (through termination or layoff). The following best practice tips are intended to help employers navigate this process.

a fine of not less than four hundred dollars ($400), or by imprisonment of up to one year, or both. Given these severe penalties, it is important for employers to comply with the applicable laws and regulations. •

Unpaid wages: When an employee separates from employment, the employer must pay the employee’s unpaid wages and/or other compensation on the next regular payday in the manner typically utilized by the employer. In cases of termination or layoff, employers may consider presenting the employee with his or her final paycheck at the meeting in which the employee’s layoff or termination is conveyed so as to avoid unnecessarily prolonging contact with the employee after the employment relationship has ended.

•

Vacation pay: If the separating employee has been employed for at least one year, employers must also pay the employee any vacation pay that the employee has accrued by company policy, a collective bargaining agreement, or any other written or oral agreement between the employer and

PAYMENT UPON SEPARATION OF EMPLOYMENT

State and federal laws and regulations have set forth requirements that employers must follow concerning payment of wages and other benefits upon separation of employment. Under Rhode Island law, for each day that an employer fails to appropriately pay an employee’s unpaid wages and benefits upon separation, the employer may be subject to civil and criminal penalties, including

RISBJ | rhode island small business journal

Best Practice Tips For Separation Of Employment | SMALL BUSINESS

for each day that an employer fails to appropriately pay an employee’s unpaid wages and benefits upon separation, the employer may be subject to civil and criminal penalties the employee. After separation, such accrued vacation time is considered unpaid wages that become payable in full or on a prorated basis with all other unpaid wages due on the next regular payday. •

Sick time and personal time: Under Rhode Island law, employers are not typically required to pay separating employees for any accrued but unused sick or personal time. Rather, employers should apply company policies concerning this time.

TERMINATION OF BENEFITS

Prior to separation, employers should clearly communicate information to the separating employee about the termination of the employee’s benefits, including health insurance, life/ disability insurance, and retirement benefits. To the extent that the employee may be entitled to COBRA to continue his/her health insurance coverage, employers should work with the employee to provide any information the employee may need.

REFERENCES

Employers should create and implement a policy concerning the information it provides when a third-party requests information about a former (or current) employee. Typically, employers should not release any information about a former employee, other than confirming dates of employment, without an authorization from the former employee permitting the employer to do so. If an employer releases information without the employee’s consent, the employer could be subject to claims of breach of privacy or defamation, especially to the extent that the information provided may not reflect entirely favorably on the former employee.

RETURN OF PROPERTY

Prior to the employee’s final separation from employment, employers should ensure that all company property (particularly any sensitive documents, electronics, and/or keys) has been returned to the employer and that all of the employee’s personal property has been returned to him or her. Employers should consider having the employee sign a form acknowledging that all property has been returned to its rightful owner. Matthew R. Plain, Esq. Partner, Barton Gilman LLP

Kristen M. Whittle, Esq. Associate, Barton Gilman LLP

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www.risbj.com | volume four issue one

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RI’s Entrepreneurs Accelerate Social Change | FEATURED NONPROFIT

RI’S ENTREPRENEURS ACCELERATE SOCIAL CHANGE by Emily Wanderer

It’s not easy to capture the imagination of an angel investor with a business idea. But recent JWU graduate Julius Searight’s innovative food truck, which doubles as a soup kitchen serving low-income Rhode Islanders, did just that. This October, Searight pitched Food4Good at the Get Started Rhode Island Pitch Contest. Moved by Searight’s vision, venture capitalist Josh Linkner announced a $1,000 personal donation, triggering two members of the audience to match his contribution. In addition, Julius walked away with the top prize of $10k. “Food4Good is from the community, for the community,” Searight told pitch contest sponsor, Cox. “When you buy a meal from us, you’re investing in your community.” Many of RI’s brightest entrepreneurs, like Searight, are creating businesses that are not only creating good jobs but also addressing some of the state’s most pressing social challenges such as access to healthy food, quality education, and healthcare. Thanks to community-oriented business leaders like Linkner, access to the investments, services, resources and networks makes Rhode Island a hot spot for social entrepreneurship. In January 2015, Searight and 12 other promising social entrepreneurs will join together as the 5th cohort of the Accelerator program, run by Social Enterprise Greenhouse (SEG), a Providence-based nonprofit that offers a range of programs to support social enterprise. The SEG Accelerator program helps social entrepreneurs take their ventures to the next level through technical assistance, mentorship and access to resources. The program has been a launch pad for some of the state’s most successful social enterprises, including Maternova, Capital Good Fund, RISD 2nd Life and Riverzedge Arts. Social enterprises, like Searight’s Food4Good, want to make money and create positive social change. This type of business faces a special set of challenges from ideation to scale; navigating emerging or new customer segments and

balancing priorities of profit and purpose are just a few. To navigate these unique challenges and take social ventures to the next level, Social Enterprise Greenhouse (SEG) runs a three-month Accelerator program dedicating resources, networks, and expertise to a select cohort. Each enterprise in the Accelerator program works through a series of online modules and in-person workshops, and meets weekly with a business coach. Entrepreneurs will conduct traditional business development activities like financing strategies and financial projections, but through a distinct social enterprise lens. Aside from business acumen, communication and storytelling are at the core of the program. Investors and customers alike are becoming more conscious of the sustainability and social impact of the businesses, making the mission narrative increasingly important. According to a recent Nielsen report, the percentage of global consumers willing to reward companies that give back to society grew by 5 percent, increasing to 50 percent in 2013 from 45 percent in 2011. With consumer trends, business acumen and a supportive ecosystem, the SEG Accelerator will continue to produce positive change and financial benefits by supporting social entrepreneurs. Social Enterprise Greenhouse is pleased to welcome the 2015 Social Enterprise Accelerator Cohort: West Elmwood Housing’s Sankofa World Market, Increment, HMSolution, Murray/Zoll & Associates, CleanPowerPerks, EarthFrendz, EbenGroup, EcoMadera Forest Conservation, Fit2Cook, Food4Good, Moving Mountains, Rhode Island Urban Debate League, and TextUp. Meet and greet Rhode Island’s hottest entrepreneurs! Please join us for the Accelerator kick-off event on January 15th from 6-8pm at Founders League in Providence, Rhode Island. RSVP at http://bit.ly/1xuVJIk. Emily Wanderer Enterprise Development Programs Manager Social Enterprise Greenhouse

www.risbj.com | volume four issue one

SMALL BUSINESS DIRECTORY

local small bus APPAREL

COMMERCIAL REAL ESTATE

J Hilburn Contact: Rae Medgyesy Rae.Medgysey@jhilburnpartner.com www.Jhilburn.com 3 Wagon Lane Attleboro, MA 02703 401-258-3656

Butler Realty www.butlerrealty.us jab@butlerrealty.us Contact: Jeff Butler 655 Main Street East Greenwich, RI 02818 401-884-6050

BUSINESS SERVICES The Business Develoment Company pdorsey@bdcri.com www.bdcri.com Contact: Peter Dorsey 40 Westminster Street, Suite 702 Providence, RI 02903 401-351-3036 Lyoness America (Local Loyalty Partners) www.lyoness.net/us Localloyaltypartners@gmail.com Contact: Ernie Pitochelli 130 Darwin Street Woonsocket, RI 02895 401-368-6911

COACHING & CONSULTING Redwood Environmental Group Gkaufman@redwoodenv.com www.redwoodenv.com Contact: Gary Kaufman 10 Elmgrove Avenue Providence, RI 02906 401-270-7000 The Growth Coach D.Marantz@thegrowthcoach.com www.thegrowthcoach.com/dmarantz Contact: Daniel Marantz 33 Urso Drive Westerly, RI 02891 401-612-4769

MG Commercial www.mgcommercial.com mike@mgcommercial.com Contact: Mike Giuttari 365 Eddy Street Providence, RI 02903 401-751-3200 Scotti & Associates www.scottirealestate.com pmbgs@scottire.net Contact: Peter Scotti 246 Hope Street Providence, RI 02906 401-421-8888

DESIGN & MARKETING Artinium, Inc. www.artiniuminc.com Darren@Artiniuminc.com Contact: Darren Marinelli 5 Division Street, Building D, 2nd Floor Warwick, RI 02818 401-729-1997 Big Fish Results www.bigfishresults.com Tony@BigFishResults.com Tony Guarnaccia 5 Division Street Warwick, RI 02886 401-484-8736

DISASTER RECOVERY Lynchâ&#x20AC;&#x2122;s Cleaning & Restoration www.lynchsrestoration.com

RISBJ | rhode island small business journal

Contact : Shawn Lynch 25 Starline Way Cranston, RI 02920 401-464-8937 PuroClean Disaster Restoration www.purocleanri.com Tabbruzzese@puroclean.com Contact: Terri Abbruzzese 5 Minnesota Avenue Warwick, RI 02888 401-633-5565

ENERGY Super Green Solutions www.supergreensolutions.com Robert Cagnetta 300 Quaker Lane, Box # 6 Warwick, RI 02886 401-932-1985

FINANCE J.P. Matrullo Financial www.jpmatrullofinancial.com jpmatrullo@matrullofinancial.com Contact: Jonathan Matrullo 10 Orms Street, Suite 410 Providence, RI 02904 401-276-8788 Morgan Stanley www.morganstanley.com Rick.Bellow@ms.com Contact: Rick Bellows 1 Financial Plaza, 19th Floor Providence, RI 02903 401-863-8400 The Ameriprise Financial Planning www.ameripriseadvisors.com/Eric.Coury Eric.Coury@ampf.com Contact: Eric Coury 1 Citizens Plaza, S. 610 Providence, RI 029O3 401-996-7660

Want To Get Your Busines Email sales@risbj.com fo

SMALL BUSINESS DIRECTORY

siness directory FOOD AND BEVERAGE

HOSPITALITY

RENTALS

3rd Rock Coffee Company www.3rdrockcoffee.com Newell@3rdrockcoffee.com Contact: Newell Brown 21 Old Town Trail Narragansett, RI 02882 401-413-4925

Choice Hotels www.choicehotels.com Keastman@teamadvantech.com Contact: Kate Eastman 360 Airport Road Fall River, MA 02726 978-290-0515

Ocean State Rentals www.oceanstaterental.net Oceanstaterental@gmail.com Contact: Jim Baldwin 530 Wellington Ave Cranston, RI 02910 401-941-4002

HEALTH & WELLNESS

INFORMATION TECHNOLOGY

SIGNS

Aflac Allen Miller 29 Crafts Street Newton, MA 02458 617-658-1820 www.aflac.com Allen_Miller@us.aflac.com

Thrive Networks www.thrivenetworks.com npacitto@thrivenetworks.com Contact: Kevin Ellis 836 North Street, Building 300, S. 3201 Tewksburry, MA 01876 978-243-1432

AA Thrifty Signs www.aathriftysign.com mcahill@aathriftysign.com Contact: Linda Iannotti 221 Jefferson Boulevard Warwick, RI 02888 401-738-8055

Amethyst Biomat www.mindfulness-abundance-healing.com healingartsri@cox.net Contact: Maria Sorensen 1130 Ten Rod Road N. Kingstown, RI 02852 401-932-6820 Jennifer L. Wilkicki, LMT & Esthetician www.styleseat.com/jenniferwilkick jlw531@aol.com Contact: Jennifer Wilkicki 51 Sockanosset Cross Road, s. 204 Cranston, RI 02920 401-935-3549 Qivana www.blessedwithhealthandwealth.com Janetdeleo@gmail.com Janet DeLeo 66 Club House Road Coventry, RI 02816 401-524-2339

ss Listed In Our Directory? or more information

TIMIT Solutions, LLC www.timitsolutions.com tmontgomery@timitsolutions.com Contact: Tim Montgomery 100 Randall Road, Unit 93 Wrentham, MA 02093 774-307-0652

INSURANCE Allstate Benefits www.allstate.com Jeff.Davide@allstate.com Contact: Jeff Davide 98 Hollis Avenue Warwick, RI 02889 401-500-3748

PAYROLL Paychex www.paychex.com apachomski@paychex.com Contact: Andy Pachomski 501 Wampanoag Trail Riverside, RI 02915 401-663-6677

TELECOMMUNICATIONS Wireless Zone www.wirelesszone.com j.sorensen@wirelesszoneri.com Contact: Jason Sorensen 76 Gate Road N. Kingstown, RI 02852 401-886-8484

TRANSPORTATION A Airlines Express Limousine & Car Service, Inc. www.aairlineexpresslimousine.com cottongin@cox.net Contact: Virginia Coulley P.O. Box 222 Saunderstown, RI 02874 401-295-4380

RESIDENTIAL SERVICES Rescom Exteriors www.iwantnewwindows.com Jrousseau@Iwantnewwindows.com Contact: Janette Rousseau 714 A South Bridge Auburn, MA 01501 508-832-5202 www.risbj.com | volume four issue one

RISBJ | rhode island small business journal

www.risbj.com | volume four issue one

The smallest state has the biggest dreams. And health plans to fit every one of them.

Affordable Plans for Any Size Business No two dreams are alike. Which is why we offer affordable, flexible health plans to meet the needs of any business in Rhode Island. Including yours.

For a small business plan that works for you, contact your broker or visit bcbsri.com/together

Letâ&#x20AC;&#x2122;s do this together 58

RISBJ | rhode island small business journal

Blue Cross & Blue Shield of Rhode Island is an independent licensee of the Blue Cross and Blue Shield Association.