RISBJ V5 No8

volume five issue eight

The Benefits of

Social Media

4

For Small Businesses

Ways

Leaders

Can Help Their Business Grow

Why You Need To Commit To Your Marketing Strategy

EMBRACING THE CORPORATE CULTURE

www.risbj.com | volume five issue eight

1

“A lot of my employees have

chosen Neighborhood because it’s affordable and has what they need.”

-Natasha Harrison, Executive Director Norman Bird Sanctuary

1-855-321-9244 nhpri.org 2

RISBJ | rhode island small business journal

Make energy upgrades, avoid the unexpected, keep focused on your business.

To get started with a no-cost energy assessment, visit ngrid.com/smallbusiness or call 800-332-3333.

That’s business on the grid.

These programs are funded by the energy efficiency charge on all customers’ gas and electric bills, in accordance with Rhode Island law. Š2016 National Grid

www.risbj.com | volume five issue eight

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RISBJ | rhode island small business journal

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www.risbj.com | volume five issue eight

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© 2016 Goldman Sachs. All rights reserved.

from the founder My six tips to starting a productive work week If you ask around the office what your staff’s least favorite day of the week is, Monday wins hands down. Coming off the freedom and excitement of the weekend, starting up at work again can often look much like a car stuck in a snow bank; wheels are spinning, but not much is going on.

Everyone knows that Monday is just as, if not more important than the rest of the week because it’s the day that sets us up for a week of success. Not to mention that Monday accounts for 20% of our typical work week! So how can you ensure that you start your week off right? Here are my 6 tips to avoid having a case of the Monday’s:

Work on Sunday

What did I just say? That’s right. The first key in having a successful Monday, is Sunday. Spend 20-30 minutes on Sunday before bedtime to list your most important items for the week. Send yourself an email from your phone with the list so Monday morning, you’re ready to go!

Wake up early

I try to wake up about an hour earlier than usual on Monday mornings. While that’s not always successful, I’m well intentioned. By waking up early, I can take the list I sent myself the night before and prioritize and categorize. I can also get some easy to-do items taken care of, like sending out important emails or meeting requests.

The “to-do” list

Rather than a typical to-do list, I have a weekly Excel template that I print out that categorizes the types of tasks I need to get done. There are sections for calls, emails, proposals, meetings and other miscellaneous tasks. By

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RISBJ | rhode island small business journal

categorizing my to-do list, I can easily address certain types of tasks. I keep this with me all week, and update as I go.

Find a Routine

One thing that I’ve found to make every day more productive, is to have a set routine that I follow every day. This holds true for the weekends as well. By having a routine, Monday’s will feel a lot more like every other day.

Forget email, make sales calls

While I’m catching up on emails from late Friday and the weekend, the last thing I want is an email from someone trying to sell me something. Sales emails from Monday typically get buried in my inbox, never to be returned. Try making some sales calls on Monday. You’ll find that more people are in their office and at their desk preparing for the week, just like you are.

Forget what day it is

There is a mental aspect to Monday that some people can’t get over. We associate Friday with relief, Saturday and Sunday with fun and Monday with UGH. Forget it’s Monday.

Monday is just another 24-hour day, another work day, and another day to be productive and focus on building your company.

So the next time someone in your office says “somebody has a case of the Monday’s,” make it a point to let them know that you didn’t even know what day it was.

Gil Lantini Founder Ralph Coppolino Co-Founder Mike Casale Senior Designer Keegan Hernandez Junior Designer Digital Marketing Lauren Bansbach Angelica Cabral Julia Cianciolo Alison Dupuis Samantha Gosper Nick Lovett Meghan O’Neill Interns Jennifer Gebhardt Mariana Tzitzouris Jenna Furlong Contributing Writers Angelica Cabral Michael Carter C. Alexander Chiulli Julia Cianciolo Jim Clarkson Ted Donnelly Susan Esposito Jeremy Girard Larry Girouard Samantha Gosper Steven King Jeff Morse Tuni Schartner Dr. Ronald G. Shapiro Kristen M. Whittle www.facebook.com/risbj twitter.com/risbj 401 831 7779 info@risbj.com www.risbj.com 1343 Hartford Avenue, Suite 24 Johnston, RI 02919 ©2016 Integrated Media Group D/B/A Rhode Island Small Business Journal

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UPCOMING EVENTS NETWORKING&WORKSHOPS

EVENT

The RI Family Owned Manufacturing Consortium 10/4/2016 Polaris MEP 8:305:00 am pm - 7:30 pm 315Out IronofHorse Way, ProvidenceSocial the Box Networking

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24 th

Corner Bakery Cafe, Cranston RI

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World Trade Day 09/16/2016 Bryant University 8:00 am - 3:30 pm 7:30 am (All Day) theSmithfield Stars for Small Business 1150Stairway Douglas to Pike,

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09/22/2016 A Night at the Garden 5:30 pm - 8:30 The Hilton Garden Inn pm 6:00 Pitch pm for $40k in Prizes at Get Started RI Providence Biltmore Hotel, Providence RI 1 Thurber Street, Warwick

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st 1 4th

The Conference Center at Waltham Woods, Waltham MA

09/24/2016 10:00 am - 4:00 pm Harvest Craft Fair

Pamfilio’s Italian Deli and Catering,

First Friday Coffee Cumberland RI at South County Museum South County Museum 8:00 am 11510/5/2016 Strathmore Street, Narragansett 8:30 am - 10:00 am RI FamilyLunch Owned&Manufacturing Consortium ISOThe 9001:2015 Learn Polaris MEP Polaris MEP, Providence RI 11:30 am 31510/13/2016 Iron Horse Way, Providence 5:00 pm - 8:00 pm Capital City Connection The Taste SouthernNetworking RI Corner BakeryofCafe Peacedale Mill Complex, Peace Dale RI 8:00 am 140 Hillside Road, Cranston 10/15/2016 6:30 pm - 11:30 pm Brand Commitment Sprout RIBoomer Bash!

Baby 8:00Crowne am Plaza, Warwick RI 166 Valley Street, Providence

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Hera Gallery Hera Gallery, Wakefield RI

Network at Noon at Arturo Joe’s Arturo Joe’s 09/14/2016 11:458:00 am am - 9:00 am 140 Point Judith Narragansett Capital CityRoad, Connection Networking

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Introduction to QuickBooks Course 09/2/2016 The Education Exchange 6:00 8:00 pm am - 9:00 am 33 North Road, Wakefield First Friday Coffee at the

2nd

23 rd

MAY SEPTEMBER

10/26/2016 Family Event 11:15Affair am 1:00 pm Newport Elks-Lodge CityBiz BNI Platinum Chapter 10:00 am Room, Warwick RI 141Chelo’s PelhamBanquet Street, Newport

of Columbus, Middletown RI For Knights More Events Visit Business After Hours hosted by Munroe Realtors www.risbj.com For More Event Information Visit www.risbj.com Munroe Realtors 6

RISBJ | rhode island small business journal

5:00 pm 117 Main Street, Wakefield

contents

volume five issue eight

INSIDE THIS ISSUE 6 Upcoming Events

8

8 Small Business News 14 Businesses Can Benefit By Knowing Their Value 15 Outsource Your Accounting Practice 16 Thriving or Diving 18 Protect Your Greatest Business Asset

18

20 Why You Need To Commit 22 Things You Should Look For In A Cloud Provider 24 Embrace Corporate Culture

26

26 Preparing Quonset’s Port of Davisville 28 4 Ways Leaders Can Help Their Business Grow 32 Professional Growth For The Entrepreneur 34 Personnel Practices 36 Growing With IMG: Are You Stalking Me? 38 Growing With IMG: LinkedIN

ON THE COVER volume five issue eight

The Benefits of

Social Media

4 Ways For Small Businesses

Leaders

Can Help Their Business Grow

Why You Need To Commit To Your Marketing Strategy

39 Growing With IMG: Twitter

20

EMBRACING THE CORPORATE CULTURE

Featured Benefits of Social Media 4 Ways Leaders Can Help Their Business Grow

38 www.risbj.com | volume five issue eight

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SMALL BUSINESS

NEWS

Bristol County Savings Charitable Foundation Awards Grants To Six Pawtucket Area Non-Profits

TAUNTON, MA – Bristol County Savings Bank (BCSB), through its charitable arm the Bristol County Savings Charitable Foundation (BCSCF), awarded grants totaling $32,500 to six Pawtucket, Rhode Island area non-profit organizations during a ceremony last week at McCoy Stadium in Pawtucket. The Foundation presented checks to the following organizations: Books Are Wings ($5,000); Camp Ruggles, Inc. ($4,000); Children’s Friend & Service ($3,000); Sandra Feinstein Gamm Theatre ($5,500); URI Foundation – First Star URI ACA ($5,000); and Boys & Girls Club of Pawtucket ($10,000).

Bristol County Savings Bank has always been an active supporter in the communities in which it serves. The establishment of the Bristol County Savings Charitable Foundation – Pawtucket Advisory Board was announced at the grand opening of the Bank’s Pawtucket office in 2001 in an effort to demonstrate the Bank’s commitment to its new market. At that time, $1 million was contributed to the Foundation to provide grants to 501(c)(3) organizations which operate exclusively for charitable purposes within the City of Pawtucket. The BCSCF has donated over $2.5 million to organizations in the Pawtucket area since its inception.

Patrick J. Murray, Jr., President of the BCSCF and President & CEO of BCSB awarded the grants to the six organizations.

Also participating were Dylan Zelazo, Chief of Staff for Donald Grebien, Mayor of the City of Pawtucket and representatives from the BCSCF-Pawtucket Advisory Board and the Bank’s Pawtucket branch.

The BCSCF was established in 1996 as part of the Bank’s 150th Anniversary celebration. Its purpose is to fund needs that contribute to the economic and the social well-being of the people and institutions located in the greater Attleboro/ Taunton Region, the greater New Bedford/Dartmouth Region and the Fall River Region of Massachusetts, as well as the Pawtucket, Rhode Island Region, with particular emphasis in the areas of education and literacy, economic development and housing for the low- to moderate-income population.

Since the Foundation began, close to $16 million has been committed to hundreds of different non-profit organizations.

“This group of non-profit organizations has a history of making a positive impact in and around the City,” said Murray. “Being a community bank, it is a core principle of ours to support the communities we serve so we look forward to seeing firsthand how these non-profits continue to build upon the good work they have been doing throughout the greater Pawtucket Region with these additional Foundation grants.”

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RISBJ | rhode island small business journal

In 2015, the BCSCF awarded $1.7 million to various 501(c)(3) organizations.

SMALL BUSINESS

NEWS

Organizations Helping Families Stay Healthy to Get Support from Hundreds of Blue Cross & Blue Shield of RI Volunteers

PROVIDENCE, RI – Blue Cross & Blue Shield of Rhode Island (BCBSRI) will celebrate the fifth anniversary of its company-wide volunteer day, Blue across Rhode Island, by providing hands-on support to 13 community organizations across the state, including six organizations promoting positive physical and mental health for local children and their families. This year’s Blue across Rhode Island will be held on Friday, September 23, with hundreds of employees committed to participating in the more than dozen projects across the state.

“The strength of Blue across Rhode Island over the past four years comes from the commitment to wellness and spirit of collaboration that define the culture of Blue Cross,” said Carolyn Belisle, Managing Director of Community Relations for BCBSRI. “With each Blue across Rhode Island, we continue our support of local organizations promoting good health—both physical and mental—for children and their families, creating stronger and healthier communities in the process.”

Blue across Rhode Island is BCBSRI’s signature volunteer event and one of the largest single-day, employee-led volunteer events in the state. During last year’s Blue across Rhode Island, 680 employees donated nearly 4,000 volunteer hours to community organizations, impacting 13,734 Rhode Islanders including more than 6,000 children.

BCBSRI employees at every level will participate in the day of service. Projects are designed to create a lasting impact, and activities will include: •

•

Creating a welcoming therapeutic garden for the individuals and families receiving behavioral health treatment at the Newport County Community Mental Health Center in Middletown.

Transforming language learning labs and job training classrooms to create a cheery environment for newly immigrated families receiving literacy, education, and employment services through Dorcas International in Providence.

•

Trailblazing and constructing boat racks to improve the safety of outdoor athletic areas at the Kent County YMCA Camp Ok-Wa-Nessett in Warwick, an organization playing a vital role in the positive development of local youth and families.

•

Restoring hundreds of children’s bicycles donated

through Recycle-A-Bike in Providence, to be shared with kids in need.

•

Conducting “FitnessGram” assessments for two-hundred middle school students at Highlander Charter School in Warren, a requirement that would otherwise take school staff a full year to complete.

•

Beautifying the playground space at Greystone Elementary in North Providence with Playworks, an organization which improves the physical, social and emotional well-being of children through the power of play.

In addition to volunteer support, project sites receive $5,000 grants to support their important work. Since the nationallyrecognized program’s inaugural event in 2012, close to 80 percent of employees have provided nearly 15,000 volunteer hours and $180,000 in grant funding to 36 nonprofits dedicated to helping Rhode Islanders live better, healthier lives. Blue across Rhode Island has become a signature event for not only BCBSRI employees, but an invaluable day for the organizations it has supported over the years. www.risbj.com | volume five issue eight

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SMALL BUSINESS

NEWS

Promotion With Motion, RI’s Digital Mobile

Ad Truck, Has Been Busy On The Campaign Trail

PROVIDENCE, RI – The special interest group FoodDemocracyNow.org , a grass roots movement to reform air, food, agriculture and the environment has engaged PWM as a strategic deployment system to deliver the message of GMO labeling. For the last six weeks PWM has traveled as far as Washington DC, Pennsylvania, and all points New Hampshire to the hometowns of Senators who have “sold out” the Amercian Farm Community for campaign contributions from Monsanto and other Biotech Bullies.

“Promotion With Motion was an amazing addition to the 4th of July parade sidelines”. “These historic little towns have

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RISBJ | rhode island small business journal

never laid eyes on a brightly lit truck before and it was easy to target 10s of 1000s of citizens who did not miss the message about “Corrupt Corporate Organics who wish to block GMO labeling”. ~Jeanne Evans, Owner For more information visit FoodDemocracyNow.org and follow Promotion With Motion on FB

Photo Credit

Dave Murphy , Political Activist and Founder of FoodDemocracyNow.org is celebrating Vermont as the 1st State to pass the GMO labeling Bill!

This is your year.

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www.risbj.com | volume five issue eight

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WE’RE LIKE A GPS FOR GETTING YOUR BUSINESS TO THE RIGHT PLACE. Just Right Commercial Loans from BayCoast Bank.

Joe Sheehan 401-274-2106

Whatever your reasons for needing a commercial loan, our Providence team of lenders can help you. With financial advice, and smart business insights, we’re always accessible and ready to listen. Our loan decisions are made locally, so you don’t have to wait long to find out if you’ve been approved.

Call Joe Sheehan or Mike Paiva today or call 401-273-0475. The Providence Commercial Loan Office is located at 10 Dorrance Street, Suite 101B. BayCoastBank.com

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RISBJ | rhode island small business journal

Member FDIC Member DIF

®

senior

SIGNATURE SERIES

Diabetes Resources for Older Adults

In the U.S., there are currently 29.1 million people living with diabetes and more seniors have diabetes than any other age group – 11.8 million, or 25.9 percent, of all people age 65 and older.

The American Diabetes Association, Blue Cross & Blue Shield of Rhode Island and CVS Health are pleased to announce the continued delivery of the Diabetes Educational Boot Camp for Seniors events in senior centers throughout Rhode Island. These half-day special events are designed to help Rhode Island senior citizens to learn more about diabetes self-management while offering health screenings and additional diabetes resources. The event is free. Registration is required. Please see below for event details.

Please consider joining us at this FREE event!

Wednesday, October 5, 2016 9am-12:30pm

FREE LUNCH

Cranston Department of Senior Services 1070 Cranston Street Cranston, RI 02920

Registration is required.

for all attendees!

Please call to reserve your spot today!

401-780-6128

Note that the event begins promptly at 9am and continues through lunch.

Brought to you by

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

for more information call 1-800-DIABETES

or visit www.diabetes.org/seniors www.riďŹ www.risbj.com tmag.com | | volume volumefive oneissue issueeight one

131

SMALL BUSINESS | RI Small Businesses Can Benefit By Knowing Their Value

R I

S M A L L

B U S I N E S S E S

C A N

B E N E F I T

BY

Knowing Their Value

by Michael Carter

With nearly 100,000 “small businesses” in the state of Rhode Island, it is clear that the general welfare of the state’s one million residents is directly tied to the health and value of its private sector enterprises. With tourism being a major force in the area’s economy, restaurants and the food service industry are pivotal components and collectively represent millions of dollars of asset value including the sizable “goodwill” associated with profitable players.

The average small business in Rhode Island generates $558,000 in revenues and $90,860 in discretionary earnings.

Based on typical multiples for owner-operated businesses obtained from current market data sources, this “average” business is worth between approximately $183,000 and $1,464,000. For most entrepreneurs, the value of their going concern represents the single largest asset of their retirement portfolio. Owners should take the time to understand the basics of business valuation in order to optimize their control over the future performance of their business and to engineer a successful “exit strategy.”

There are both strategic and tactical reasons for obtaining a valuation and understanding the basics of the valuation process.

Two of the primary strategic reasons include:

1. Tracking Performance

Until you recognize the key factors that drive the value of a small business, it is difficult to rationally and proactively take the steps needed to optimize its value over time. Once you know how to calculate normalized earnings and learn about the specific factors that impact “market value,” you will be in a much improved position with respect to short- and long-term planning, which optimizes value.

2. Evaluating Offers To Purchase

Whether you are buying or selling a small business, relying completely on advice from disinterested parties or even individuals with opposing interests is not a position of negotiating strength. Nobody knows your business like you do and your knowledge alone, if properly expressed, can enhance business value through the identification of normalized earnings and the derivation of proper multiples.

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RISBJ | rhode island small business journal

A couple of tactical reasons why this knowledge is highly beneficial include:

1. Possessing Adequate Insurance

Without proper insurance, you could find yourself in a situation of having to pay out of pocket for damages that otherwise would have been covered by your insurance. Key Man insurance will help protect the value of your owner-operated business for the benefit of lenders, investors, or family members.

2. Obtaining Business Loans

Providing a prospective lender with a credible business valuation will provide instant credibility and bolster your chances of obtaining a loan for working capital, new ad campaign, or fixed assets. The more organized and detailed the presentation, the more control the business owner will have when shopping for a loan.

There is much to learn, but a few hours every month can make a material difference in the ongoing value of your business and your ability to grow, and sell for top dollar when the time to sell arrives. There are many other reasons why you should take the time to learn about valuation and obtain a valuation for your company, but those listed earlier should justify such efforts.

The average small, privately-owned and owner-operated business will sell for between 1 and 3 times discretionary earnings with factors such as the type of business, size of business, etc., determining the relative placement along this spectrum–or pushing it above this range. Once the earnings reach $250K to $500K, the pertinent multiples will rise. The “size effect” rewards growing companies not only via higher earnings, but also through higher multiples.

For Rhode Islanders, knowing the value of your business is a definitive step towards building the future of your business, ensuring you are properly insured and readying yourself for selling or passing on your business.

7 Reasons 7 Reasons to Outsource Your Accounting Practice | SMALL BUSINESS

to Outsource Your Accounting Practice

by Jim Clarkson

In today’s high-stakes business environment, companies outsource some operational functions to save time and money. As one of the first processes to be widely outsourced, accounting procedures continue to be released from inhouse operations at an epic rate. This is because outsourced accounting practices can save money and time, and offer unwavering peace of mind to managers.

I’ve seen various types of companies benefit as a result of outsourcing. Some business owners, however, are still unsure if the practice is right for their company. While there are many factors to consider before making the switch, below are a few reasons why outsourcing your accounting practice could be a smart business move for your company: 1. Reduce overhead costs and increase efficiencies. Due to the specialized nature of the work, several employees are often needed to operate in-house accounting. In addition, accounting procedures may require businesses to hire additional personnel for task separation and internal control. Outsourcing proves effective at reducing overhead because it eliminates the need for extra benefits, training, office equipment, down time and taxes, just to name a few.

2. Improve budgeting practices. Does your budget need to be refined? Companies that deliver outsourcing services provide expert advice on future planning and money management. Oversight from outside experts can help you identity financial problems before they occur and ensure the financial viability of your company.

3. Improve cash flows. Do you run a successful business but sometimes struggle to pay the bills? Cash shortfalls can be stressful, but outsourcing can allow your business to take advantage of everyday accounting practices to help manage cash shortfalls. For example, a professional accountant can improve your cash flow by skillfully delaying disbursements while aggressively pursuing unpaid debts.

Have you or your senior management team ever spent time bookkeeping? Let the experts take care of the accounting and free management to tackle the duties in their job descriptions. Outsourcing allows you to stop wasting valuable time on accounting and focus on strategy.

5. Receive sound advice. As opposed to hiring a “general” bookkeeper, outsourcing provides an opportunity to align yourself with a professional who has experience with your type of business. Companies that provide outsourced accounting services employ knowledgeable personnel with expertise in every area of accounting.

Accordingly, you will have access to individuals with specialized knowledge to fit your specific accounting needs.

6. Expand staffing flexibility. As mentioned earlier, your time is better spent selling your services or product than it is working on the accounting. This is also true for your senior management. Outsourcing allows you and management to focus on developing new business opportunities rather than tackling day-to-day tasks within the company.

While outsourcing accounting procedures offers many advantages, it is important that companies making this move have a thorough understanding of their provider’s reputation, security practices and areas of expertise. In addition, companies must remain vigilant and not entirely surrender control of their accounting practices. Many companies are benefiting from the rewards of outsourcing their accounting.

As this practice continues to grow and the workforce becomes accustomed to its convenience, the prevalence of outsourcing accounting procedures may offer yet another reason for companies to take Jim Clarkson Partner, BlumShapiro advantage of the benefits it offers.

4. Save time and get convenience. How much time has your accounting team wasted trying to solve a complex (or simple) accounting problem?

www.risbj.com | volume five issue eight

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SMALL BUSINESS | Thriving or Diving

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RISBJ | rhode island small | rhode island smallbusiness businessjournal journal

Thriving or Diving | SMALL BUSINESS

SEARCH ENGINE OPTIMIZATION

by Jeff Morse

In the ever-expanding universe of the internet, it’s getting harder and harder to be seen. Businesses can no longer rely on being seen based on their own merits. Visibility requires strategy, planning, time and effort. Every day, technology affords us new, more interesting, and (most likely) more complicated ways to reach our audience. Leveraging technology to remain competitive is no longer an option. With over ninety percent of online adults utilizing search engines to find information, the need for a strong, visible presence on the web can mean the difference between your business thriving… or diving.

Search Engine Optimization (SEO) is the process of evaluating and editing the structure and relevance of website content— and the code behind it—to achieve the right balance of content, relevance, usability, and authority. The objective of any SEO program is to improve the ranking of your site in an organic search—in other words, to make your website show up at or near the top of the first page when someone searches for the type of product you offer (e.g. if your company offers healthcare QA services, your goal is to appear on PAGE ONE when someone searches for healthcare QA services).

It’s complicated If you think SEO is complicated, that’s because it is—very. In order for it to work, besides the programming and “search” expertise, you must crunch a tremendous amount of everchanging data, understand how it correlates to the marketing goals, and consider its implications on the brand. A good optimization program takes input from a team of people within these areas, working together, to find the right balance.

All roads lead to SEO. SEO leads to all roads.

When you create an optimization program, you must first take a careful look at what has been happening “behind” the site.

Assuming some fundamental analytics steps have been taken

during the design and creation of the website, there should be some basic data available if you know where and how to look for it: • • • • • •

How are people finding your site?

Where are they going?

Where are they coming from?

How long are they staying in the site and where do they go?

What search terms are they using to find the site?

And much, much more.

Then you have to look at your brand, marketing plans and goals: • Who are your target demographics?

• What are the key words used to describe your brand?

• What are the key words people might use to find you?

• What does that GAP analysis look like and why?

• Who are your competitors? What are their page rankings and why?

• And much, much more.

Then, you should create a plan for how to increase optimization. The recommendations are concise and measurable. Some results happen immediately, and some are part of a longer term strategy.

It never ends Unfortunately that’s true, because, as sure as successful companies are optimizing, their competitors are doing the same. It is an organic process that takes an ongoing program based on precise data.

As I said at the beginning, visibility requires strategy, planning, time and effort. And let’s face it; if you’re not visible, well, you’re invisible. That about says it all.

Jeff Morse

Partner, Imaj Associates

www.risbj.com || volume issueeight nine www.risbj.com volumethree five issue

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SMALL BUSINESS | Protect Your Greatest Business Asset: Your Employees

by Ted Donnelly

As a small business owner, you know how important your employees are to your success. You depend on their knowledge, experience, talent, and loyalty to keep your company running smoothly and efficiently.

But, like many businesses, you may have been hit hard by the recession, and are trying to keep expenses down—making cuts, freezing payrolls, and streamlining operational costs—means your employees may be assuming heavier workloads, longer hours, and broader responsibilities, often for the same paycheck.

So, in these tough economic times, how can you show your workers just how much they’re appreciated? Small gestures, like movie tickets or a night at a local restaurant, can help improve morale; but, if you’re looking to offer something more substantial,

consider supplementing your employees’ benefits package with life insurance through a voluntary payroll deduction program.

Voluntary payroll deduction is one of the simplest ways employees can purchase permanent life insurance to protect their loved ones, and a smart way to supplement the benefits you already offer them. It can usually be set up using your existing procedures for payroll deduction, and, best of all, there is virtually no direct, out-of-pocket costs to the employer.

Remember, when you invest in your employees, you invest in your business. That’s just good business sense.

Note: Employee participation in a payroll deduction insurance program is completely voluntary. Since this program is not intended to be subject to the Employee Retirement Income Security Act of 1974 (ERISA), employers cannot contribute to, or endorse, this program.

This educational, third-party article is provided as a courtesy by Ted Donnelly, Agent, New York Life Insurance Company. To learn more about the information or topics discussed, please contact Ted Donnelly at 401-276-8728 or efdonnelly@ft.newyorklife.com.

Ted Donnelly

Agent, New York Life Insurance Company

Voluntary payroll deduction is one of the simplest ways employees can purchase permanent life insurance to protect their loved ones 18

RISBJ | rhode island small business journal

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www.risbj.com | volume five issue eight

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SMALL BUSINESS | Why You Need To Commit...To Your Marketing Strategy That Is!

Why You Need To

by Tuni Schartner

What words come to mind when you think about commitment? Loyalty, faithfulness, dedication, devotion, responsibility and obligation are the first to roll of our tongues here! When it comes to your marketing/growth strategies, you need to stay loyal, faithful, dedicated, devoted and responsible! You are obligated to commit to your business’s continued growth, right?

When it comes to developing a marketing strategy we can assume you’ve spent time identifying: 1. Your differentiator/unique value proposition in your vertical, as well as your company’s vision and mission…

2. Your short and long term business goals…

3. Your available resources (the realistic amount of time, money and energy available to devote to your marketing strategy)…

4. Your audience…

5. And evaluating current and past marketing campaigns/efforts/budgets, etc…

Now you have your marketing strategy and are ready to execute? Great job! It takes the rolling up of sleeves and a lot of work just to get here but your work isn’t over yet.

It’s time to put one foot in front of the other and commit to creating fresh content daily/weekly/monthly then get it out there through your various identified channels.

Creating a marketing calendar is key. We recommend checking in, constantly, to identify what is working, and maybe what isn’t, what you might just need to tweak a little or shelf for awhile or maybe even trash and re-evaluate that part of the strategy. Whether you’re evaluating specific content, times of day that you’re posting (on each individual platform as they are all different), blogging style, email campaign, results of a LeadPages campaign, Fb ad, and so on…remember it’s like a puzzle in which the image is constantly changing!

Consistent effort and execution company’s growth. Another very giving campaigns enough 20

RISBJ | rhode island small business journal

Why You Need To Commit...To Your Marketing Strategy That Is! | SMALL BUSINESS

Commit

...TO YOUR MARKETING STRATEGY THAT IS!

The single most important detail to keep in mind that will ensure your marketing strategy will be successful is your ability to commit. Consistent effort and execution is the key to the success of your company’s growth. Another very important thing to keep in mind is giving campaigns enough time to prove themselves. This is HUGE. So often we start with the best of intentions, right? But implementing successful marketing strategies is a lot like exercise…we know we need to do it, we know we have to stay consistent to get the results we desire but, let’s face it, it’s hard work! At the end of a long day at work how many of us would much rather curl up on the couch with a glass of wine than hit the gym?

We understand that we’re all human, life happens and sometimes there are legitimate reasons why we can’t stick exactly to our plan. One great aspect of quantifying

what’s working and what isn’t on a daily/weekly/monthly basis is we can also look at areas where we might be doing a great job, staying consistent executing one aspect of our marketing plan but maybe there’s an area where we’re falling short…have no fear, just analyze ‘what’ it is about that task that is causing you stress.

Let’s say it’s creating your weekly blog that you’re struggling with? Maybe it’s time to change the day, or time of day, you have set aside for that project? Or maybe you need to update the blog calendar because those topics just aren’t speaking to your creative juices? Or, maybe you’re really enjoying (and great at) certain parts of your company’s marketing campaign but you hate blogging and someone else on your team would be psyched to take that over?

Here’s to your continued commitment & GROWTH! About Tuni: I am a Business/Marketing Strategist providing a wide range of services including: public relations, social media strategy development & execution, permission based e-mail mktg.

- integrated mktg. - planning & execution, as well as program & event planning/consulting. I studied English and Psychology at the University of Rhode Island and continue my education in all aspects of mktg. & business development, planning and environmental economics. I recently co-founded The Hive RI, Southern RI’s first coworking space, work with Congressman Langevin’s team on the Congressional STEM Competition and am a mentor/ coach at The MET School’s E-Ctr. I am a proud member of the Southern RI Chamber of Commerce and part of the Eco-team (PTO) at Hamilton Elementary School and a new board member with the MAE Organization for the Homeless. I remain a perennial & passionate (and sometimes outspoken) proponent of economic development in Southern RI.

is the key to the success of your important thing to keep in mind is time to prove themselves. www.risbj.com | volume five issue eight

21

SMALL BUSINESS | 5 Things You Should Look For In A Cloud Provider

5 THINGS YOU SHOU

CLOUD PR

by Jeremy Girard

More and more organizations are moving pieces of their infrastructure and critical services to the cloud. The benefits of this move are many, including increased security and availability, improved disaster recovery options, and reduced management time required. Still, for all these benefits, there are many companies that are reluctant, or downright scared, to move to the cloud. Often, this is because they want to maintain a certain level of control over their infrastructure – a level of control that is a challenge to achieve with many cloud providers.

To put it simply, sending critical services and infrastructure to the cloud scares many companies because they do not know where that cloud is or what happens when something goes wrong and they need additional assistance. Cloud services typically abstract humans from the equation, which is a problem when you need to speak with someone about your specific concerns and needs.

These concerns are understandable and legitimate, but they should not keep you from making a strategic business decision to embrace the benefits of cloud computing. As with anything in business, if you allow your fears to drive your decisions, you will be left behind while your competition moves forward and claims a competitive advantage.

Cloud computing can revolutionize your IT infrastructure and the way that you do business, but you need to make sure that the provider you partner with for your cloud initiatives is a right fit for your business. Here are a few things you should be looking for in a cloud provider.

1. A Local Option – Partnering with a provider that is local to you has a number of advantages. Perhaps you have been hesitant about a move to the cloud because you are fearful of “where” that cloud is or you do not want to give up complete control of your infrastructure. If this is the case, then a local provider whose facilities you can visit, and whose team you can work alongside when needed, may be the answer for you.

A local provider is also likely to be a group that knows you and your organization and takes your business success personally.

That type of relationship is very difficult to find when you work with national or even global providers to whom you are little more than an account number.

a provider who has services to complement their platform and ensure a successful transition to those cloud services. When considering cloud providers, weigh their platform alongside their services to get a sense for what the whole package looks like.

2. Cloud Services, Not Just a Platform – Many cloud providers offer a compelling platform, but that is all they offer – a platform. Most organizations, especially those who are new to the cloud, need more than just a platform. They need

3. Cost Predictability – One of your driving factors for moving infrastructure to the cloud may often be cost savings, but contracts whose prices fluctuate based on usage can quickly negate any savings you had planned.

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5 Things You Should Look For In A Cloud Provider | SMALL BUSINESS

ULD LOOK FOR IN A

ROVIDER

Cloud services typically abstract humans from the equation, which is a problem when you need to speak with someone about your specific concerns and needs.

makes budgeting very difficult, so you should be looking for a contract with predictable rates and a way to account for those aforementioned special circumstances.

4. Flexibility – Every organization’s needs are different, so a “one-size-fits-all” cloud solution may not suit your needs in the way that your business requires. The ability to work with your cloud provider (again, this is where a local option can be very helpful) to shape the solution to your needs can be critical to its success. Whether you are moving all of your infrastructure to the cloud or going with a hybrid cloud/on-premise solution, a provider who can work with you to find the right solution for your needs is important. They should have the flexibility to make your plans happen today, and also the scalability to grow and adjust as your needs change in the future.

For instance, you may have one month where your usage is much higher than normal. Perhaps you are doing some critical development and testing and you need to spin up a number of VMs (virtual machines) as part of that process. That one month of additional usage could push you to a higher contract level, and cost you more money each month going forward if your plan does not have a way to accommodate these special circumstances. In other cases, you may pay for what you use, which means that one month may be one price and another may be wildly different. That unpredictability

5. Compliance and Security – Security and compliance considerations are at the top of almost all companies’ concerns when it comes to the cloud. If you are handling sensitive data or personal client information, you want to be sure that your cloud provider has the necessary proper compliance credentials to meet any regulations your company or your industry may be subject to. You also want to be mindful of physical security and disaster readiness. How access to the actual facility is handled or what the plans are in case of natural disasters, power outages, and more are important considerations to look at when selecting a cloud provider.

The cloud should not be a scary place for you or your organization. By being mindful of the points covered in this article, and selecting the right cloud provider, you can realize all the benefits of cloud computing for your business.

Jeremy Girard Director of Marketing Envision Technology Advisors | www.envisionsuccess.net www.risbj.com | volume five issue eight

23

Embrace as

Whether it is on the athletic field, or in the business world, it is difficult to envision what world class looks like and feels like unless you can get close to it.

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Corporate Culture

Embrace Corporate Culture As Part Of Your Corporate Vision | SMALL BUSINESS

part of your corporate vision

by Larry Girouard

It was 1965. I was a young mechanical engineering student at the University of Rhode Island. During my four years at URI (62-66), I was also on the varsity Track and Field team, focusing on the hurdles, long jump and triple jump. My track hero back then was Hayes Jones, 1964 World and Olympic Champion in the 120-yard high hurdles.

Back then, every year during the indoor track season, the Boston Athletic Association (BAA) organized The BAA Invitational Track Meet held at the Boston Garden. The BAA brought in the best runners from all over North America, and they always sold out the Garden for this event. For the short indoor running events, like the 60-yard dash and 60-yard high hurdles, the BAA invited the better local collegiate runners to fill out the field.

Hayes Jones and three to four other world class hurdlers were attending that year, and I had developed enough skills to be one of the invited local hurdlers. By the luck of the draw, I was in lane three and Hayes Jones was in lane four. Here I was standing next to my track idol in front of 13,000 people, in Boston Garden awaiting the starter’s command. Good grief...talk about surreal!

Well, there is certainly no storybook ending here. Hayes crossed the finish line a good 5-7 yards ahead of me, but that is not the point of the story.

So few of us ever have the opportunity to see “world class” up close and personal. Whether it is on the athletic field, or in the business world, it is difficult to envision what world class looks like and feels like unless you can get close to it.

I talk with presidents every day about what the vision for their company is 5 years out, or more. They are fluent and enthusiastic when discussing capturing share, increasing the number of offices, and developing new products or services.

In many cases, they have already applied metrics to some elements of their vision.

When the conversation moves to a focus on the type of culture they envision 5 years out, I am often met with silence.

Corporate culture is rarely talked about in business circles much beyond informal cocktail conversations. You can put your arms around bricks and mortar, new products and the like, but for culture, how do you start that conversation with respect to culture’s application to your company or organization?

To initiate the thinking of corporate culture change, senior executives must be energized to do so. They need some defining moment where the “ah ha” is possible. Where “being hit in the head with a two-by-four” can really happen.

For presidents to be able to get a good sense for the power of a higher performing business culture, and how this type of culture might apply to their company, they must seek out organizations that have reached a higher cultural plateau.

There are many high-performing organizations in the New England area that regularly invite guests into their world.

Baldrige companies (organizations that have earned the Malcolm Baldrige National Quality Award), and many other companies frequently have programs that allow you to see a new cultural world, which is foreign to most company presidents. Perhaps a visit to one of these companies could be the start of your company’s culture change. Every journey starts with the first step.

Larry Girouard

President The Business Avionix Company

www.risbj.com | volume five issue eight

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SMALL BUSINESS | Preparing Quonset’s Port of Davisville For More Growth

Preparing Quonset’s Port of D

by Steven King

Today, more than 75 companies rely on Quonset’s Port of Davisville to put $97 million of annual earnings into the pockets of Rhode Island workers. At the same time, the Port generates $27 million in state and local taxes and supports 1,500 direct, indirect and induced jobs. Consistently one of the Top 10 auto ports in North America, the Port of Davisville has experienced 547% growth over the past 20 years and had its sixth record breaking year of auto imports in 2015.

Recently, the Rhode Island General Assembly reaffirmed its historic commitment to investing in this success at Davisville when it approved the FY2017 state budget. Included within that legislation was Governor Gina M. Raimondo’s $90 million modernization plan for Pier 2 at the Port of Davisville, which the Governor signed into law on June 24.

Governor Raimondo’s plan will modernize Pier 2, which was built in 1956 with a design life of 50 years. It will re-configure the Port for additional growth by adding a third berth on the pier and providing more overall capacity so that other shippers can be pursued to call at the facility. It will also allow

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Quonset’s Davisville to stay competitive with other ports in the region while preserving hundreds of jobs in the maritime sector.

This initiative is a critical component of the Port’s growth. The increase in off-shore wind projects, opportunities in shortsea shipping, robust auto imports, and potential auto export business are all on the horizon. This investment will ensure that the Port’s momentum will continue to drive Rhode Island’s economy.

The investment will be made in three parts: a $50 million general obligation bond; a $15 million appropriation from the State’s Capital Plan Fund, and; a $25 million revenue bond.

Since 2009, EDA has inve support development projects th return on investment in both

Preparing Quonset’s Port of Davisville For More Growth | SMALL BUSINESS

Davisville For More The revenue bond will be repaid exclusively by the Quonset Development Corporation (QDC) and port users, at no cost to state taxpayers. The $50 million general obligation bond must be approved by voters in this November’s election, and is part of a larger bond to expand port terminal in Narragansett Bay. The federal government is also stepping up to the plate to help ensure the future growth of the Port of Davisville.

Thanks to U.S. Senators Jack Reed and Sheldon Whitehouse, and Congressmen Jim Langevin, and David Cicilline,, the U.S. Department of Commerce’s Economic Development Administration (EDA) recently announced a $625,000 grant to the QDC to support a critical upgrade on Terminal 5 at the Port. This grant will help us expand the capability of the Port

ested $11 million in Quonset to hat have resulted in significant h jobs and economic growth

Growth

of Davisville, support additional business opportunities, and create more jobs.

“Since 2009, EDA has invested $11 million in Quonset to support development projects that have resulted in significant return on investment in both jobs and economic growth,” said Jay Williams, U.S. Assistant Secretary of Commerce for Economic Development at the time of the announcement.

Ongoing investment in Quonset by the pubic sector has resulted in $2 billion in private investment, as well a platform for 200 companies that employ nearly 11,000 people.

When Governor Raimondo first proposed the Pier 2 modernization plan for Quonset’s Port of Davisville, she said “First class jobs go to places with first class infrastructure.” We could not agree more. Here at the Quonset Business Park, our world class infrastructure is why we, along with the Port of Davisville, have been key drivers of economic and job growth in Rhode Island for many years. Now, we are positioned to keep that momentum going and prepare for even more growth.

Steven King, PE

The managing director of the Quonset Development Corp., North Kingstown

www.risbj.com | volume five issue eight

27

4 Ways Leaders Can SMALL BUSINESS | 4 Ways Leaders Can Help Their Business Grow

by Susan Esposito

As a business leader, there is constant competition for your attention—customer crises, operational decisions, employee issues, and future planning, just to name a few. With all you have to do, it’s easy to become unaware of what’s going on around you. That lack of awareness can have serious consequences!

To stay up-to-date and keep your business growing, here are four things every leader should do:

1. Listen to Fresh Perspectives

Business leaders must learn to listen to fresh perspectives in order to keep their ideas and businesses from going stale.

US News highlighted an emerging trend of senior executives being mentored by young, entry-level professionals on issues like technology, culture and social media. This reverse mentoring phenomenon has already been adopted by bigname companies such as Johnson & Johnson, GE, and Cisco, and it’s having a two-fold effect. Not only is it helping to make baby-boomer executives technologically and socially relevant, it’s also helping businesses retain eager millennial employees.

As you know, innovation is the key to success in today’s business world. “Business must look ahead, not behind…

Every business must innovate to compete. They must create

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new products and services for new markets,” said Scott MacFarland, a digital marketer and brand strategist. There are definitely tried-and-true business principles that stand the test of time, but the way in which you implement and communicate those principles to your employees, customers, and the general public continues to change.

2. Embrace the Latest Technology

Second, leaders have to learn to embrace technology. Michael Robson, general manager of General Assembly’s enterprise business, told The Wall Street Journal, “Ninety-nine percent

With all the respo with leadership, it’s so e with employees, and the back

4 Ways Leaders Can Help Their Business Grow | SMALL BUSINESS

n Help Their Business Grow

of executives say [digital growth] is important, but only 10% of companies are satisfied with the speed at which they are making the transition.” To keep their companies from falling behind, many executives and managers are now taking lessons on how the online world works.

These technology lessons aren’t just about digital terminology or how to use social media. “They put the service in context, explaining which strategies work and what a company’s competitors have done,” said Gretchen VanEsselstyn, Director of Education at Mediabistro Inc., a media job board and

onsibilities associated easy to push connecting even customers, into kground.

training site. This enables leaders to make wiser decisions on what to invest in and how to guide their growing businesses.

3. Stay Engaged

Business leaders also have to learn to stay involved and connected to their team. With all the responsibilities associated with leadership, it’s so easy to push connecting with employees, and even customers, into the background.

However, it’s vital that leaders are always talking with and listening to their employees and customers. This communication is how leadership can monitor the pulse of engagement, production and morale.

4. Embrace the Entrepreneurial Spirit

Glenn Llopis, president of a business strategy consulting firm, pointed out in a Forbes article that today’s leaders must think like entrepreneurs. “They need to view their departments and/ or functional areas like a small business that is constantly looking for creative, resourceful and cost efficient ways to grow and compete profitably.” This is what will enable leaders to be proactive and instigate changes before they’re forced to.

Leaders who continue to learn, engage, and grow enable their businesses to go far beyond where they’re at today and reach the level of success they’ve long aspired to.

Susan Esposito

Business Developer, Express Employment Professionals of Warwick, RI

www.risbj.com | volume five issue eight

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www.risbj.com | volume five issue eight

31

PROFESSIONAL GROWTH | Professional Growth For The Entrepreneur

Professional Growth F I T

I S

A L L

A B O U T

by Dr. Ronald G. Shapiro, PhD

As part of a series focusing on Rhode Island small businesses whose mission includes helping organizations, their owners and employees grow throughout 2016, we turn to Jamie Palmer. Jamie educates and advises some of her clients on optimizing their use of social media.

Jamie recommends that all businesses:

1. Develop a brand ecosystem. That is, she recommends that every business decide what they want people to do when they visit their FaceBook page or website. Businesses might, for example, want people to sign up for a mailing list, enter a contest, print out a coupon and bring it to a brick and mortar store. Businesses may want people to do different actions at different times. For example, If a business is just starting out on social media or is doing a major social media refresh they may want to spend the first six to twelve weeks simply recruiting people to sign up for their mailing list. Jamie recommends recruiting the people who are most likely to be ideal clients during the first half of this marketing period and recruiting second best clients during the second half of this marketing period.

Businesses may want to spend the next sixteen to twenty four weeks encouraging people to enter contests or visiting their store. If businesses decide to offer a contest they may wish to consider prizes which would lead to interesting stories, photos or videos for future social media postings. During the holiday season she

Realistically, a client will have six to nine interactions with a business on social media before they decide to purchase from a business or move on.

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I N T E G R A

Professional Growth For The Entrepreneur | PROFESSIONAL GROWTH

For The Entrepreneur T I O N :

W I T H

J A M I E

P A L M E R

recommends integrating messages with the holiday season.

Jamie recommends evaluating successes and failures every 30 days to fine tune the social media initiative and developing plans for four 90 day intervals at the time.

2. Have realistic expectations for their social media initiatives. Sometimes, Jamie points out that businesses plan on instant customers once they set up a social media account, but that is not how social media works. Realistically, a client will have six to nine interactions with a business on social media before they decide to purchase from a business or move on.

3. Remember to build an ecosystem. Integrate social media with the business and include social media in everything the business does. For example, a restaurant might offer their FaceBook fans a free drink, desert or a 10% discount when they come in for dinner for a special occasion or the least busy day of their week. Similarly, they might have a card at each table so customers can sign up for an emailing list while waiting for dinner and receive an email offering them 10% off on their next visit.

4. Use hashtags in all of their postings on Instagram. Find out what hashtags are commonly used by other businesses in their area or as search terms and use them.

Also, develop a unique hashtag and encourage customers and clients to use their hashtag.

5. Keep up to date with technology including FaceBook Live, Instagram, LinkedIn, YouTube and SnapShot.

6. Be authentic, show their brand to let people decide if they like them, and remember owning your own business requires more working hours than many jobs. Part of this work initiative includes your personal involvement in social media and brand management. If you don’t want to do this, you may be better off as an employee.

Jamie Palmer is the owner of Outlier Marketing Group, LLC. I would like to thank Industrial Consultant Dr. Margarita Posada Cossuto for helpful comments. www.risbj.com | volume five issue eight 33

LEGAL | Personnel Practices: Best Practices For Non-Profit And Philanthropic Organizations

Personnel Practices

B E S T

P R A C T I C E S

F O R

N O N - P R O F I T A N D P H I L A N T H R O P I C O R G A N I Z AT I O N S

by C. Alexander Chiulli, Esq. and Kristen M. Whittle, Esq.

With specific requirements to maintain their tax-exempt status, non-profit and philanthropic organizations face unique challenges in their business operations. The following are examples of best practices that non-profit organizations should employ to support a culture of compliance within their organizations.

Be Aware of Legal Requirements and Benefits.

Due to an array of benefits that they enjoy, taxexempt organizations are subject to numerous legal requirements.

It is essential to an organization’s continued success that board members and executive-level

employees remain aware of the various and ever-evolving governing federal, state, and local laws. Board members should undergo regular training in an effort to remain upto-speed on critical legal issues facing non-profits, such as understanding the possible penalties for overpaying employees, engaging in excessive lobbying or political activities, accommodating tax shelter transactions, and making egregious or bad bargains on behalf of the organization. Failure to understand the myriad laws and regulations governing non-profits can lead to unwanted consequences including the loss of tax exempt status.

On the flip side, in addition to their exemption from taxes, non-profit organizations may enjoy other benefits such as increased flexibility in the regularity of payment for employees under Rhode Island law. Awareness of such benefits will assist in effective leadership of an organization.

Keep Governing Documents Up-to-Date.

As their objectives and services evolve, non-profit organizations may, over time, also change their mission, purpose, and governance practices without updating their governing documents or policies. Disconnect between an organization’s actual practices and adopted policies can result in confusion among board members and unwelcome inquiry from governmental entities. Greater compliance can be achieved by conducting regular reviews of governing documents and frequently referencing the organization’s bylaws before taking significant action such as electing officers or directors, or creating board committees.

Develop an Effective Board.

A well-rounded board of directors can offer a diverse range of skills, experience, and personalities that combine to benefit the organization’s mission. Boards without diversity, or that “unanimously” pass every

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Best Practices For Non-Profit And Philanthropic Organizations | LEGAL

On the flip side, in addition to their exemption from taxes, non-profit organizations may enjoy other benefits such as increased flexibility in the regularity of payment for employees under Rhode Island law. resolution, should consider whether they are engaging in open and productive discussions about key issues. In this regard, the most valuable board members are often those who, calmly and respectfully, speak their mind. Additionally, because serving on a non-profit board requires a significant time commitment as well as satisfaction of the duties of good faith, due care, and loyalty, all board members should be fully committed to the mission of the organization.

Maintain Proper Board Oversight.

Boards may delegate tasks to committees, officers, staff, or in certain cases, outside professionals, but should proceed with caution. Effective oversight can be exercised through the deliberate drafting of policies and procedures, as well as consistent enforcement after their implementation. Common oversight mechanisms include frequent review of financial documents plus the development of various governance policies addressing whistleblower protection, document retention, and ethical and legal requirements. In addition, organizations should require board members and key employees to execute appropriate conflict of interest forms annually. If a conflict should arise, interested board members must abstain from discussing or voting on the transaction at issue.

Ensure Financial Transparency.

Board members should also be provided with regular and thorough reports on the organization’s financial health and activities. For reasons not limited to increased governmental scrutiny in recent months, every non-profit organization must maintain current and transparent financial reports plus processes that prevent employees from utilizing funds without supervision and accountability. Bookkeepers’ and controllers’ work should be in an open format and easily accessible to the board. Preventive measures such as implementing appropriate governing documents and policies can go a long way in promoting financial transparency.

C. Alexander Chiulli, Esq. Associate, Barton Gilman LLP

Kristen M. Whittle, Esq. Associate, Barton Gilman LLP www.risbj.com | volume five issue eight

35

GROWING WITH

IMG

Are

You following you around the web; the store wants you to keep seeing their product so you’ll buy it. Facebook advertising has become a cost effective way for small business owners to stay connected with their audience and drive sales, but it can be overwhelming at first. Here are my top 7 tips to master Facebook advertising:

1. Choose your ad type. There are several types of ads to choose from, and it’s important to choose the one that matches your ad goals. The most effective ad types are: • • •

by Julia Cianciolo

I’m doing some online shopping and put a few things in the cart—this cute floral sundress and strappy sandals, but close out of the window before making any purchases. Then I open up Facebook to see what people are up to—but wait, why is that cute outfit I almost bought right next to Aunt Cindy’s vegetable garden? And is that that bathing suit I was looking at last night? Is the web stalking me??

The answer is yes. But before dialing 911 or grabbing a baseball bat, let me explain.

36

Codes can be placed on a website that will track which page a user navigates to, and can report the data back.

This is why that summer outfit you almost bought is RISBJ | rhode island small business journal

Event promotion – helps to increase event attendance or sell online tickets.

Special offers – promotes a specific special your company is offering and allows customers to actually claim that offer through Facebook.

Promote your page – this is the most common ad placed and will generate page likes for your business Facebook page. On average, page likes will cost $1-$2 each.

2. Grab some attention. When placing ads on

Facebook, you have the opportunity to upload an eyecatching image to draw in your audience. Your ad should be designed to 1200x628 pixels in size and must contain less than 20% text relative to the overall image size. Make sure to keep your ads short, sweet, and visual.

3. Decide on who to target. You can build and target an audience who you want to see the ad with the tools Facebook provides. You are allowed to target Facebook users by location, age, interests, and much more!

Facebook targeted allows you to really reach your designed audience, but keep in mind that the more specific your audience, the more costly your Facebook ad may be.

4. Boost that post. Another very effective type of

GROWING WITH

IMG

Stalking

Me Facebook advertising is a boosted post. This is great to promote content on your Facebook page that you want more people to see. Pick the post you want to boost and target your audience with Facebook’s tools or use a custom audience (see tip 6); or you can simply boost to your fans and friends of fans.

Additional Tip:

When boosting your post, you should see an increase in likes of that post. If you click on those likes, you can invite anyone that hasn’t previously liked your page to now like it. This is a little known great way to increase page likes!

5. “Stalk” your website visitors – Remember the story about my online shopping experience? Well you can use this to your advantage as well! Facebook provides a tracking code called Pixels to tag anyone who visits your website. Pixels can be accessed through the Facebook Ads Manager of your business page. Once the tracking code is installed, you can then run Facebook ads to specifically target those visitors.

6. Create a custom audience. Custom audiences are key to targeting Facebook ads. There are two primary ways to build a custom audience.

• •

From an email list – you can upload a list from Mailchimp, Constant Contact or other email provider and run ads specifically to people found on that list.

From your website – using pixels (tip 5) you can build a custom audience of website visitors and target anyone who has visited your website or specific pages on your website.

7. Create a lookalike audience. Once you build a great custom audience, how do you expand that reach to other similar Facebook users? That’s where the Facebook “lookalike audience” feature comes in. This allows you to

target ads to people with similar characteristics to your custom audience. If it’s your first time using Facebook Ads, the length of these tips might be slightly shocking.

But Facebook Ads can be an extremely useful to small businesses; I’ve found it’s been beneficial for some of my clients. Offers, event promotion, and promote a page are three of the more common ads I use because they are most relevant to my clients. But with each ad I use I always see great results!

So next time you feel like someone or something is watching your every move on the Internet, they are! But it’s for good reason. And I was going to buy that summer outfit anyway (but the ad on Facebook may have helped).

Julia Cianciolo Digital Marketing Coordinator, Integrated Media Group www.risbj.com | volume five issue eight

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GROWING WITH

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Benefits of Using LinkedIn PROVIDING YOU THE TOOLS YOU NEED TO HELP YOUR SMALL BUSINESS SUCCEED

by Samantha Gosper

Are you a business professional looking for more personal exposure? Are you looking for a platform to position yourself as a subject matter expert? If so, you’re probably considering creating or already have a LinkedIn account. LinkedIn is a business-oriented social networking service with over 300 million users, boasting more than two new members signing up per second.

ability to interact and engage with connections. From your personal profile, you should actively like, share and comment on content that is being posted by connections in your immediate network. Also, look to become an active member of groups such as alumni associations, trade associations, networking groups and industry specific groups. This engagement is sure to get everyones attention.

4. Generate leads

Here are my top 5 benefits of adding LinkedIN to your digital marketing mix:

Are you looking to target Accounting professionals in the Rhode Island area? Or someone in HR at an industry leading healthcare provider? LinkedIN allows you to search for specific prospects by name, title, company, location and several other key profile values. Once you find who you’re looking for, send a connection request and make sure they see that you’re actively posting content and contributing to professional discussions. Before you send that email to offer your products or services, try sending a message or InMail from LinkedIN. Messages sent from LinkedIN have a much higher likelihood of a response.

1. Tell your company’s story

5. Recruit talent

Are you currently sharing how your company started and why you are so passionate about the products or services you provide? Telling your story is a great way to build relationships with your prospects and strengthen relationship with existing customers.

If you are looking to fill a position within your company, LinkedIn is a great place to post your job opening. You can begin by posting the position to your company page, sharing it to your personal network and even posting it into relevant groups.

2. Build reputation and brand identity

With all the potential benefits of having a LinkedIN profile, what are you waiting for? Upload that great head shot, make sure your profile is fully complete, develop a content strategy and get started with your online networking!

By creating a free LinkedIN account, you are able to build your professional identity online, stay in touch with colleagues, clients and prospects and discover professional opportunities, business deals, and new ventures. In addition to a personal profile, you also have the ability to create a page for your company. Both personal profiles and business pages have benefits that can help you grow your business.

By developing a consistent and well thought out posting strategy, you can build trust with connections and position yourself as a subject-matter expert. I recommend posting original content 3-5 times per week.

3. Create engagement

Like other social media platforms, LinkedIn gives users the

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Need help developing a strategy? Let me know!

Samantha Gosper Digital Marketing Coordinator, Integrated Media Group

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6 Reasons you need

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Twitter For Your Business

by Angelica Cabral

Each month there are 313 million people all over the world using Twitter. That’s 313 million people looking to connect with others, including your business. Of all the users 82% access their Twitter accounts on their mobile devices. Don’t let your business miss an opportunity to reach its audience in a world where cell phones are attached to the hips of many.

Instant engagement with consumers

Twitter allows businesses to have immediate communication with consumers, therefore your business messages are executed faster and more efficiently. This also means you can make announcements to your consumers in a timely manner that you control. This feature is especially beneficial for businesses who hold inventory a quick post advertising ‘limited inventory’ attracts consumers to take action. You can also announce sneak peaks, specials, new releases, etc.

Brand ambassadors and other brand loyal communities Typing in keywords in Twitter search help you find those who love your brand. Utilize these people by engaging with them online and evolving them into brand ambassadors. One idea is to exchange products/services for a good word on social media. The end results are a win-win, the brand ambassador ends up with products/services they love and the brand get attention.

Hashtags and live tweeting

One unique feature about Twitter is the ability to use hashtags.

Hashtags are a way for people all over the world to connect through words or phrases. When hashtags are included in tweets, not only do they become a clickable link, but they help reach more people. This means using hashtags gets your business’ message in front of a larger audience. Another unique part of Twitter is the capability to live tweet during an event. If event attendees tweet about event matters using the same hashtag, your business profile will be sure to gain traction.

Be a part of word of mouth and reputation management

words, are you portraying your brand correctly or the way you want too?

2. Twitter searches give you the opportunity to sustain reputation management. Social media has become a popular place for consumers to express what they love or hate about a business. By searching your business on Twitter you are able to manage the outcomes of those consumers who have had a bad experience with your brand and fix the relationship.

3. Along with discovering what your Twitter population thinks about your brand you can us their comments as recommendations. Listening carefully to these suggestions could improve a service/product your business already employs or spark a new ideas for future endeavors.

Cost-effective marketing

Unlike most traditional marketing, Twitter Ads do not cost an arm and a leg. Twitter Ads allow you customize your audience through location, gender, keywords, interests, and more. They also allow you to set a total budget, which means you won’t ever spend more than you want. When creating Twitter Ads you first select the type of campaign you want to run. The options include: tweet engagements, website clicks or conversions, app installs or app re-engagements, video views, followers, and leads on twitter. These Twitter Ad choices are beneficial depending on what kind ROI you are looking for your business.

For example, if you are looking to reach more people with your Company’s resources, services, products, etc., then the ‘Followers’ campaign objective will most likely suit your needs.

Twitter Analytics

Twitter gives business executives the option to keep track of all their efforts thought analytics. By using Twitter Analytics you can determine what social media strategies you are employing that are working and which ones to trash.

Using Twitter search you can find out what people are saying about your brand by typing in a word/phrase. This offers a couple of advantages: 1. You know what people think about your brand. You can ask yourself is this what you want them to think? In other

Angelica Cabral Digital Marketing Coordinator, Integrated Media Group www.risbj.com | volume five issue eight

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