RISBJ V8 No1 by Rhode Island Small Business Journal

volume eight issue one

PROFESSIONAL DEVELOPMENT Recruit & Retain

Miles Above: Building A Plan For 2019

GIG ECONOMY

DISRUPTS EMPLOYER-EMPLOYEE RELATIONS

TEN MARKETING TACTICS ESTABLISHING AN ONLINE PRESENCE

L E A R N I N G

T I P S

F O R

S M A L L

B U S www.risbj.com I N E S| volume S O W N E 1R S eight issue one

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RISBJ | rhode island small business journal

1/8/2019 10:26:42 AM

contents

volume eight issue one

INSIDE THIS ISSUE

6 Small Business News 8 How To Get More Customers - Part One 10 Ten Online Marketing Tactics 12 Marketing For Startups

14 Finding The Right Small Business Employees 16 Gig Economy 18 7 Axioms For Business Growth

20 Miles Above The Rest In Helping Young Adults 22 Professional Development

ON THE COVER volume eight issue one

24 Monthly Learning Tips

PROFESSIONAL DEVELOPMENT

Recruit & Retain

26 Eighth Annual Frozen Clam Dip & Obstaplunge 29 Rhode Island Business Plan Competition

Miles Above: Building A Plan For 2019

GIG ECONOMY

DISRUPTS EMPLOYER-EMPLOYEE RELATIONS

TEN MARKETING TACTICS ESTABLISHING AN ONLINE PRESENCE

L E A R N I N G

T I P S

F O R

S M A L L

B U S I N E S S

O W N E R S

Featured Miles Above: Building a Plan For 2019 Learning Tips For Business Owners

26 www.risbj.com | volume eight issue one

SMALL BUSINESS

NEWS

Live2Lead Returns To North

RHODE ISLAND – The Live2Lead Conference will be held at Kirkbrae Country Club, 194 Old River Road, Lincoln, on Thursday, February 7. 2019. The event starts at 8:30 AM with several well-known businesspeople discussing their lives and the collective impact of what they have learned through their respective experiences has done for each of them. Diane Caine of Caine Coaching and Consulting, who hosted last year’s event at the same venue, will once again host this program. Caine said she was inspired by the number of people who attended the program last year because the weather conditions were less than ideal. “We had a snowstorm occur before our event started, but the people who signed up came in and were treated to plenty of educational and inspirational stories from the panel,” said Caine, who noted that just two registrants from last year did not attend. “There was ample dialog stemming from last year’s speakers that included John Maxwell and (Former Atlanta Falcons Running Bank and Minority Owner) Warrick Dunn, among others. It was an eye-opener for many of the attendees and the hope is that more people will come and be enlightened by the simulcast.” Business Networking International (BNI) is the Presenting Sponsor for the event along with Caine. This event coincides with International Networking Week. BNI Executive Director

RISBJ | rhode island small business journal

Brenda Curry said that the reason why some businesspeople are successful comes from getting in front of many other likeminded professionals as possible. “I see it first-hand every day how the value of putting yourself in front of other individuals and growing one another’s respective companies,” said Curry, whose region covers southeastern Massachusetts and all of Rhode Island. “If someone can meet someone new at such events, they raise the chances of creating new opportunities. That is the reason for making it a priority for small business executives to be proactive in spreading their messages.” Speakers include John C. Maxwell, leadership expert, bestselling author and coach. John C. Maxwell, a #1 New York Times bestselling author, coach and speaker, has sold 30 million books. He has been called the #1 leader in business by the AMA and the world’s most influential leadership expert by Inc. His organizations—The John Maxwell Company, The John Maxwell Team, EQUIP, and the John Maxwell Leadership Foundation—have trained millions of leaders from every nation. Tyler Perry, world-renowned filmmaker, actor, entrepreneur and philanthropist. The multi-hyphenate talent has a resume that reads like the American Dream: playwright, screenwriter, actor, director, producer, best-selling author, and studio head.

SMALL BUSINESS

NEWS

hern RI

Event Takes Place On Thursday, February 7 2019

His work, from page to stage to screen, never fails to leverage the power of story to share Perry’s message of hope. Carly Fiorina, Founder and Chairman of Unlocking Potential. Carly became the first woman ever to lead a Fortune 50 company. Prior to announcing her candidacy for the Republican nomination for President in 2015, she served as the Chairman of Good360, the world’s largest product philanthropy organization, and as Chairman of Opportunity International, a Christian-based organization that lifts millions out of poverty around the globe through micro-finance. Daniel Pink, Best-Selling Author, To Sell Is Human: The Surprising Truth About Moving Others, Drive and A Whole New Mind. One of the best-selling nonfiction authors of the last decade, his books on work, business, and behavior have been translated into 35 languages and have sold more than 2 million copies worldwide. In 2015, London-based Thinkers50 named him, alongside Michael Porter and Clayton Christensen, as one of the Top 10 business thinkers in the world. Debra Searle, professional adventurer and serial entrepreneur. Her expeditions have included rowing solo and unsupported across the Atlantic and sailing around Antarctica. Debra has also launched four companies, is a published author, and has worked as a host for the BBC and won gold medals for Great Britain at World Championship level. Debra was given an

MBE from Her Majesty the Queen and a place on the board of The Duke of Edinburgh’s Award. She later co-founded the Business Women’s Network Forum which meets at Buckingham Palace. Caine added that the stories and advice that the panel will provide attendees will carry more weight as they proceed with their lives. Live2lead is designed to deliver the very best leadership content to inspire and motivate you and your team. Plus connect with other influencers in your community and expand your business network with relationships that produce tangible results. Doors open at 7:30 AM for registration, the simulcast begins promptly at 8:30 AM and continues until 1:30 PM. Tickets are $99 each and may be purchased on-line at http://events.r20.constantcontact.com/register/event?oeidk=a0 7efxe3j10aa158ee6&llr=j49zhnzab or www.Live2Lead:NorthernRI.com.

Additional details may be found by contacting Diane Caine at 401-255-3620 or by email at: diane@cainecoachingandconsulting.com

www.risbj.com | volume eight issue one

SMALL BUSINESS | How To Get More Customers – Part One

H O W

T O

G E T

M O R E

Customers Part One by Bryan B Mason

Most business owners I speak with think that getting more customers is the answer to all of their problems. They are usually wrong in this respect because they need to get most of the other things right (product, service, quality, etc.) in order to keep all the new customers they are planning to get. In many cases though, getting more customers is often a key activity that needs to be accomplished. However, not all types of customers are created equal. You need to figure out what types of customers are most profitable and then seek out those types of customers. The first thing I want to say is that to be successful, you need to go out and get your customers, not wait for them to come to you. There are four things that you will need in order to get more customers: 1. An Effective Business Strategy 2. An Effective Marketing Strategy 3. The Identification of Appropriate Marketing Channels That Will Work for You 4. A Marketing Plan.

An Effective Business Strategy

What is a business strategy? Simply put, it is a plan to gear up and meet an unmet customer need that exists. You need to be very clear about this. You cannot be all things to all

RISBJ | rhode island small business journal

people. Your company is too small. As a small company, it has to be a narrow niche that is not being addressed well or not being addressed at all. For example, if you are a dry cleaner, what makes you different? One difference you could have is convenience. You could offer pick up from people’s homes and drop off of cleaned clothes. Another example, you could be a retail store that has a line of products that were specifically made for you (and therefore is not available anywhere else). Don’t pick a point of differentiation that someone else is already doing like next day delivery. Amazon has that covered and is moving to same day delivery. It has to be unique. Once you know what you want to offer that is different, you need to build your whole company around doing that thing well. If you are the dry cleaner above, you need to be sure it is easy for a customer to request a pick up. Think multi-channel – email, social media, live calendar on your website, not just calling you on the phone. They might want to schedule a pick up during hours when you are closed. It has got to be convenient for the customer, not just for you to create an efficient pick up/delivery route. Figure out how to be sure your driver will arrive at the customer on time with a very small variance. You can’t keep them waiting! This may require some technology. All of this takes work. That is the point. Once you have it in place, you have something that is hard for competitors to match. As they try to catch up, you

How To Get More Customers – Part One | SMALL BUSINESS

If you are a dry cleaner, what makes you different? One difference you could have is convenience. You could offer pick up from people’s homes and drop off of cleaned clothes.

communicate with and then convert prospects to customers. Generally, the first step is to describe your target customers. Who are they – men or women, income levels, family status, level of education, interests, etc. In marketing speak – their personas. Next, segment your potential customers into reachable groups. Finally, determine the messaging that will most effectively convert each group from prospects to customers. Along the way, you need to develop a brand strategy, the branding itself and very importantly the message of what your brand stands for and your brand promise. You will need to be consistent across all of your messaging. Next month I will continue with a discussion of Marketing Channels and how to develop a Marketing Plan.

will be refining the process always moving farther ahead. If you are the retailer above, you need to find designers to design all the unique products you are going to sell. Then you need a supply chain to have it produced and delivered to you. When you are done, you will have a highly differentiated set of products to sell. It is not necessary that everything you sell is unique, but you need enough unique items that you become a draw for having unique items. Sometimes customers will just buy something else that seems right. However, you used your reputation for unique offerings to get them into the store.

An Effective Marketing Strategy

A marketing strategy is the way that you will identify,

Mr. Mason founded the Apollo Consulting Group in 2008 to help small and mid-sized companies in solving their challenges. Mr. Mason brings over thirty years of corporate, consulting and entrepreneurial experience in a variety of industries. He possesses skills in general business management, analysis, strategy development, marketing, finance/ budgeting, operations, pricing optimization, workflow optimization, process reengineering, project management, and information technology. Mr. Mason has two degrees in Economics and was a Volunteer Mentor for the Rhode Island Center for Innovation and Entrepreneurship (RI-CIE). He writes a weekly blog on his company website at www.apollogr.com/blog.

Bryan B Mason

Principal | (401) 862-6339 The Apollo Consulting Group LLC

ARE YOU A SMALL BUSINESS OWNER, SALES PROFESSIONAL OR MARKETING PROFESSIONAL WHO WANTS TO GET MORE CUSTOMERS? Please join us for a free seminar presented by Bryan Mason Tuesday, January 15th | 7:30AM – 8:45AM Providence Chamber of Commerce 30 Exchange Terrace, Providence, RI 02903

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www.risbj.com | volume eight issue one

TEN

ONLINE MARKETING

TACTIC

ONE: ESTABLISH AUTHORITY Write a blog.

Having fresh content on your business website is a must for SEO purposes – and offering useful information for your customers will establish you as an authority in your field.

TWO: BE ACCESSIBLE

Make your site mobile friendly.

Everyone uses the Internet on their phones. Make sure your site provides a user-friendly experience there.

THREE: WORK TOGETHER

Partner with other businesses.

When each of you promotes the other along with your own business, you both win!

FOUR: INCREASE VISIBILITY

Get citations in your local listings.

Make sure that your business is listed on Google Local, Yelp, Yahoo Local, and Bing.

FIVE: PROMOTE YOUR SERVICES Create infographics.

These are quickly becoming the most shareable, viral things on the Internet – they’re easy to understand, appealing to the eye, and useful. 10

RISBJ | rhode island small business journal

CS YOUR BUSINESS TO GROW

SIX: GET SOCIAL

Build a presence on social media.

Sign up for every social media channel your market is on, and make your presence known on all of them by posting, sharing content, and interacting with people.

SEVEN: MANAGE YOUR REPUTATION Respond to negative reviews.

Don’t ignore, and definitely don’t delete negative comments. Respond calmly, offering to fix the problem.

EIGHT: SHOW SUPPORT

Add customer testimonials to your site.

The more social proof potential customers can see on your site, the more confident they’ll feel in buying your product or service.

NINE: GOOGLE

Use Google Analytics.

All the online marketing in the world won’t do you any good unless you can see what’s working and what’s not.

TEN: COLLECT EMAIL ADDRESSES Offer a valuable free download.

Providing people with a free white paper or eBook shows off your expertise and gathers email addresses for your email list with one stone! www.risbj.com | volume eight issue one

SMALL BUSINESS | Marketing For Startups

For Startups by Veronica Cintron

So you’ve started the company of your dreams, congratulations! But how do you share your dreams with the world, how do you let people know you are open for business? I encounter these types of questions from startups on a regular basis. Mistakes in the early stages of startup development can be costly financially and can also have a negative effect on your company’s branding. Here’s a short guide to marketing the right way:

1. Discover your company’s identity. If you haven’t done so already, write down your company’s mission and purpose. This helps to give you a clear picture of what your unique identifier is. Make a list of 5-10 adjectives that identify your business, this will be important in developing the next steps on this list.

2. Have a logo. Your logo should be relevant to the type of business you have and the business name. It should also contain colors that speak to your demographic. Either you or your designer should research the psychology of color and see how it can be integrated into the logo design. Lastly, be sure the design is clear and high quality as this is the image you will use for marketing collateral, company website, and branding.

Discover your company’s identity. If you haven’t done so already, write down your company’s mission and purpose. 12

RISBJ | rhode island small business journal

3. Define your target market. Know who the people buying your products and services are. This can be found through general market research of your industry, surveys, or analytics pulled from your site visits. Once you know your demographic, you will be able to concentrate on targeting them. Correct usage of this information will put your marketing dollars to work more efficiently.

4. Start blogging. Blogging is a great marketing tool for businesses. Gone are the days when blogging was just used to chronicle personal journeys. Although, I’ll add that one of the many perks of blogging is that it is more informal than a standard website and you can certainly take this as an opportunity to show a personal, human side to your business. Blogs provide a free way to write to your target market about your products and services. It will drive traffic to your website, which can turn into leads. It is also very important for Search Engine Optimization (SEO). Finally, it will build your reputation as a field expert in your industry. Remember to spread the word by posting links to each of your blog entry on all your social media accounts. Once these steps are complete, a full marketing campaign should be launched. A marketing campaign may include postcard mailers, e-mail campaigns, a grand opening, and ad buying (billboards, radio, television, or social media). Another important piece is to be sure that your company’s website is designed to attract your target demographic, is clear in its message, and portrays your company’s identity. Lastly, Search Engine Optimization or SEO, is a marketing process that increases visibility in organic (non-paid) search engine results. This process allows your website to be easily found through major search engine (e.g. Google). Most website traffic happens through major search engines, therefore it is worth the investment to have your site optimized.

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www.risbj.com | volume eight issue one

Finding the Right

Small Business

Employees

8 Tips

by Diane Fournaris

Hiring employees for your small business can be an exciting, but overwhelming, endeavor. It signifies your business is growing, but it’s no time to rest. Connecting with the right employees, and putting your best foot forward as an employer, take times and care. Get off on the right foot with these eight tips for the hiring process.

1. Pick the right time There are two good times to add employees to your small business. One, when you need to diversify and add specialty knowledge. And two, when business is booming and you need to add customer service personnel to ensure your clients have a great experience doing business with you, says RISBDC business counselor and Director of Diverse Business Outreach Manuel Batlle. Specialized roles might include bookkeeping, web development, operations, or marketing. Failing to add customer service personnel when needed puts you at risk of losing dissatisfied customers.

2. Know what you need, and know what you have to offer

Hiring employees for your small business can be an exciting, but overwhelming, endeavor. It signifies your business is growing, but it’s no time to rest. T 14

RISBJ | rhode island small business journal

Once you’ve assessed your company’s needs, develop an honest and comprehensive job description. It should clearly state expectations both for the immediate work and skills needed and be written with some flexibility to carry out additional tasks (often required at a small company). Hours, location, travel required, flexible work arrangements, compensation, and class of employee (contractor, employee, etc) should also be included. Along with developing the job description, you should also prepare to speak honestly and succinctly about yourself (as a boss) and your company. Rhode Island-based HR consultant Cynthia Butler suggests you develop your company “elevator speech” -- the sales pitch for why an employee would want to work for you. Sell your flexible workplace, the experience and growth available, the team environment, or any special perks you offer, but don’t oversell or misrepresent yourself.

Be as honest as possible about what kind of boss you will be (involved, hands-off, etc). Losing a quality employee who had different expectations is far more costly than finding someone who is looking for what you can offer in the first place.

who may react or respond differently to potential employees, to the interview with you. This will help you to paint a more well-rounded picture of each candidate when making hiring decisions.

3. The right fit is important

7. Look for red flags

While you’re being honest about your job needs, think about personality. What kind of person is going to be the right fit for your company? Beyond a skill set, a good degree, or even previous job success, you’re looking for employees who complete your particular puzzle. Motivation style, communication style, and personality are all important when considering who will be able to do the job well and who is likely to stay in the job.

Throughout the hiring process and interview, make note of concerns that arise. Potential red flags include: • • • •

4. Prepare for the interview Preparing to interview job candidates has two major components. First, make sure that you’re well-versed in what questions you are (and are not) allowed to ask. HR consultant Butler emphasizes that a little legal training can keep you out of a lot of trouble. A good rule of thumb is to keep your questions focused on job requirements and expectations (rather than personal qualities of the applicant). For good measure, read up on additional tips for keeping an interview legal well in advance.

•

A candidate who displays lack of good communication or professionalism throughout any portion of the hiring process is likely to exhibit the same behaviors as an employee.

8. Dig deeper - carefully Of course you’ll check references as you narrow down your search, but most people will only submit references that will speak positively for them (a negative, or even lukewarm, candidate reference would also be a red flag). So dig deeper. Thorough background checks are often not legally required. If you choose to perform a check on one applicant, you must also do it for all other candidates for that position. Selectively choosing applicants for additional screening is discrimination. Also, while checking up on a candidate’s social media accounts can be informative, be aware of the risks and boundaries before you go snooping. You can, however, talk to contacts within the industry, your network, and your own and the applicant’s community. Prior bosses are fair game too, though it is poor form to contact an applicant’s current boss without their explicit permission.

Second, prepare quality job interview questions designed to seek out information about knowledge, skill, and fit. Along with standard questions about previous successes, technical background, and how candidates would handle various situations, RISBDC counselor Batlle recommends asking leading, open-ended questions about what they know about your industry or business. This gives you a chance to see if they acknowledge their own limits “or start BS-ing.” While it can be easy to “go with the flow” in an interview, Butler recommends ensuring you ask the same questions of each candidate in order to compare responses.

5. Cast your net smart, not necessarily wide Networking continues to be one of the most popular ways small business owners find their employees. Let your friends, colleagues, business associates, and even your clients know about the position you want to fill. This also increases the quality of potential employees, as most people you know wouldn’t recommend someone to you that they wouldn’t be willing to vouch for. Additional job posting options include: • • • • •

Poor communication during interview process Unprofessional behavior: improper attire, being late without calling, typos or errors in resume and cover letter Lack of preparation: not knowing much about your company or having relevant questions ready Inability to answer common interview questions or provide examples of how they provided value to a former employer Summarized experience on a resume that doesn’t specify details such as company name and dates of employment

Hiring the right candidate for the job takes time and energy. As the financial costs of hiring and training an employee are considerable, finding the right one on the first try is worth the effort. Looking for guidance and support for your planned business expansion? Schedule a free appointment with one of the RISBDC’s professional business counselors today!

LinkedIn Professional and trade organizations related to the job description Chambers of commerce Your website Industry-specific job boards

The Rhode Island Small Business Development Center at URI is part of a national network of nearly 1,000 business assistance centers that provide counseling and training to small business owners and aspiring entrepreneurs. Partially funded through a cooperative agreement with the U.S. Small Business Administration, we help businesses to succeed from start-up to maturity.

You can also post to a free large-scale job board, such as Indeed.com.

6. Use the buddy system It’s always helpful to have a fresh take on the candidates, besides your own. Bring a team member or trusted advisor,

Diane Fournaris

Assistant State Director of RISBDC

T www.risbj.com C | EvolumeNeightTissue one E 15 R

GIG ECO

D I S R U P T S by Matthew C. Reeber, Esq.

A growing workforce of freelancers and independent contractors who have the freedom to decide on the duration and frequency of their work is changing the employer-employee relationship. In large part, increases in the number of gig workers is being driven by companies with online platforms using digital applications such as Uber, Lyft, Grubhub and Care.com. According to a recent study by Intuit and Emergent Research, 9.2 million people are expected to be part of the gig economy by 2021, an increase of 5.3 million since 2016. Inherent in a gig economy is friction with laws enacted to protect employees who work traditional 40-hour work weeks for a clearly defined employer. As an employee, an individual is entitled to a minimum wage, unemployment compensation, overtime and workers’ compensation benefits. On the other hand, gig economy workers receive none of the protections afforded employees. Gig employers also take the position that gig workers are precluded from collective bargaining because the National Labor Relations Act excludes independent contractors from having this right. Determining whether an individual is an employee or

E M P L O Y E R -

independent contractor is typically based on: • Whether the individual charges fees for his/her service. •

Whether the individual is contracted only for the term required to perform an identified service or task.

•

The amount of control exerted over the individual.

•

Whether the individual pays employment taxes personally to the government.

With the advent of the gig economy, courts have had to address what rights should be provided to a low skilled workforce performing highly flexible, episodic jobs. Federal courts are now applying the “Economic Realities Test” to gig workers even though the test was first used when science fiction could not have imagined a mobile phone application, let alone that millions of American workers would receive their daily job assignments from an app. Unsurprisingly, in applying the Economic Realities Test to the gig economy worker, the federal courts have acknowledged that the results often seem harsh. The traditional seven elements of the Economic Realities Test are:

According to a recent study by Intuit and Emerg to be part of the gig economy by 2021,

RISBJ | rhode island small business journal

ONOMY E M P L O Y E E

R E L A T I O N S

1. The extent to which the services rendered are an integral part of the hiring entity’s business. 2. The permanency of the relationship. 3. The amount of the alleged contractor’s investment in facilities and equipment. 4. The nature and degree of control by the hiring entity. 5. The alleged contractor’s opportunities for profit and loss. 6. The amount of initiative, judgment or foresight in open market competition with others required for the success of the claimed independent contractor. 7. The degree of independent business organization and operation. By bringing claims seeking classification as “employees,” gig workers have forced the courts to re-examine the Economic Realities Test and the application of its decades’ old analysis to a new workforce. Recent decisions held that Uber drivers and Grubhub deliverymen were properly classified as independent contractors.

However, California’s Supreme Court recently changed the state’s long-standing test to determine whether a worker is properly classified as an independent contractor in Dynamex Operations W. v. Superior Court, 4 Cal. 5th 903 (Cal. 2018). In Dynamex, the Court ultimately held that it will use the “ABC test” to determine whether an employee has been misclassified as an independent contractor. The “ABC test” applies a lenient standard that favors classifying workers as employees. Dynamex provides one possible resolution of the application of the Economic Realities Test to gig workers – the courts could abandon the Economic Realities Test and adopt a more expansive definition of “employee.” As gig workers continue to challenge being categorized as independent contractors across the country, courts may follow California’s lead and expand the definition of an “employee.” For this reason, it is important for employers to stay informed of the changing landscape of workers’ rights and to be proactive in reevaluating how they classify independent contractors working for their organizations. PLDO Partner Matthew C. Reeber is a prominent employment law attorney and litigator. For more information on the Gig Economy, court decisions in this area and other employer-employee issues, please call 401-824-5100 or email mreeber@pldolaw.com.

gent Research, 9.2 million people are expected , an increase of 5.3 million since 2016.

www.risbj.com | volume eight issue one

SMALL BUSINESS | 7 Axioms For Business Growth And Improved Profits

7 Axiom For Business Growth and Improved Profits by Larry Girouard

I can recall the question, and follow-on statement, as if it were yesterday. I was an invited guest to a seminar for corporate presidents. There were 20 executives in the room, and their companies ranged in size from several million dollars to over $20 million. Max Carey, the speaker, is recognized as one of America’s leading sales and marketing experts. Mr. Carey asked this question... “How many of you are NOT satisfied with way your business is running, and feel that there is a lot of room for improvement?” As you might expect, everyone’s hand when up. He then firmly stated.. “I want you to listen closely to what I am about to say. Your business is running exactly the way you have designed it to run. If you are not satisfied with the way your business is running change the design. If you change the design, behavior will follow!!!” I have never forgotten that moment, and how these simple words impacted the way I think about corporate culture. The link between market penetration, customer satisfaction, employee satisfaction and business valuation begins by looking at the current design of your business, and considering options for its redesign.

Consider the 7 axioms below: Axiom 1: Most Companies have a very Small Share of their Served Available Market, offering them a real opportunity for growth through market penetration. The Served Available Market (SAM) is the market that is available to your company if you had 100% of the business in that territory, or region, that you currently service with your existing product offering. For 80% - 90% of companies the SAM market share is well under 5%. Better said, capturing market share with your existing product offering is a very reasonable growth strategy.

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Axiom 2: Not effectively differentiating your business presents the biggest barrier for profitable growth in a marketplace filled with look-like products and me-too services. It is suggested that you look at your company’s total product offering from the customer’s vantage point. The total corporate output, or customer experience, is the new definition of your product. Your company is in the customer experience business.

Axiom 3: Customers will continue to maintain established buying behaviors until a dramatically different, more overtly appealing, credible benefit is offered that they can believe in. The resistance for a customer to change suppliers for any product, or service, is high. Perhaps part of this is the “devil you know”, but switching is not all about a lower price. While companies talk often about differentiation, make a list of the top ten reasons why a target company, or target customer, should switch to your product, or service. Can you list ten? Oh, by the way, you need to be able to quantify the reasons.

Axiom 4: Only a Small Percentage of Companies have a Strategic plan, or market penetration plan, that is ever executed. Here is a real eye opening statistic >> 75% -80% of all companies do not have a strategic plan! What is even more astounding is that 90% of companies that have a strategic plan fail to execute on that strategy. Better said, only 2-3% of all companies execute on a strategic plan of any kind, including most of your competition.

Axiom 5: All companies have valuable information concerning

their products, customers, margins and competition; but painfully

7 Axioms for Business Growth and Improved Profits | SMALL BUSINESS

processes thereby driving efficiency and improving the customer experience. To see the impact of efficiency improvements, keep your employee count constant and increase to top line sales by 5%, 10% and 15%. You will quickly realize the leveraging effect of efficiency on the bottom line. Considering the concepts set forth in Axioms 1-7, there are wins for each stakeholder? The win for the customer because they are receiving much better service and value for their expended dollars. The win for the employee through job security, selfactualization, and additional pay/bonus. Finally, a win for the business owner because of a healthy bottom line, higher business valuation, reduced inventory, improved cash flow, market penetration, and a sustainable business culture. The overall result: Less stress for everyone!

few model this information visually to help brainstorm ways to identify growth opportunities. I think of the old war movies, like Patton (George C. Scott), and the segments where the generals are standing around a table with a model of the battle theater on the table top. They are talking strategy, and moving their forces around the table to try to outthink the enemy. The battle field model provides them a great visual tool to support strategic dialogue. You can construct a similar model for your company.

Axiom 6: Empowering Employees unleashes untapped energy

within a company to drive beneficial, productive and sustainable change. Most of the value that the customer receives is performed by the employees, not management. The rank & file make our products, answer our phones, prepare our RFQs, and so on. For employees to be empowered, management must give up power, shifting from a “command and control” approach to a “coaching and facilitation” mentality.

Axiom 7: The elimination of waste in all processes drives the customer experience. Consider this >> 95% of all the activities that we perform in our companies are considered nonvalue added (waste) from the viewpoint of the customer! This statement is absolute true! Employees can be motivated to reduce, or eliminate, waste in all

Larry Girouard

CEO of the Business Avionix Company, LLC, A Business Consulting Firm

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SMALL BUSINESS | Miles Above The Rest In Helping Young Adults

Miles Above T I N

H E L P I N G

Y O U N

Everyone has a story to tell, and Miles Vinciguerra is no exception. His path to where he is today took many curves and hairpin turns until one event stopped him dead in its tracks. What he did to address those issues made him understand the value of life and what people can offer.

His foray into the business world started slow as he recalled, gradually building through “word-of-mouth” advertising and his attention to detail, outstanding customer service and taking the time to learn about each customer as if they were an extended family.

He truly believes that what makes him stronger is his will to learn, admit mistakes and what he did to not only tackle the problems head-on but to also show others—particularly younger, impressionable clients—that there are better alternatives to meeting their goals in life.

Because of those core values, Vinciguerra’s business grew to more than 100 clients. He lived the life he wanted—at least that was what he thought—until a decision completely changed his direction and career path.

Vinciguerra, who meets clients either by telephone, video conference call or face-to-face, works with clients throughout Massachusetts and Rhode Island. He notices how his clients transition into the workforce and adulthood, and how coaching helps them discover the next phase in their lives. He added that coaching also aids clients overcome issues ranging from anxiety, depression and worrying while helping them grow and develop their mindset and self-confidence. “I wasn’t a very good student in high school, and getting into trouble while I was there didn’t help matters any,” he said. “There wasn’t a lot of structure to my day or subjects that I was interested in pursuing. It was a detriment being there because there was little I could see myself gaining from being in class.” After he graduated high school, Vinciguerra went to work as a landscaper. He founded Miles of LandCare, Inc., in 2012.

“I was working some crazy hours back then, maybe 16-18 hour days, seven days a week, Vinciguerra recalled. “There wasn’t a suitable outlet for me to just let loose or even wind down. I could not let my customers down; they depended on me to make their properties look great. To ensure that I could adequately service them; I made some bad choice to keep myself going. That ‘plan’ worked well initially. I addressed everyone’s needs and there were no complaints from my customers or the people who depended on me. “My decision caught up with me,” he continues. “I was coming home after another long day of work, fell asleep at the wheel and hit a tree. Nobody was injured, but my truck was severely damaged. I had to look in the mirror to see who I was and what I wanted to do. I learned the hard way that my direction in life took me down a destructive path. I understood the hard way that if I didn’t change my habits, my situation could become much, much worse.”

It’s truly about gaining self-awareness and overcoming what is holding them back from achieving their goal. We develop the action plan, and the strategy for sustained success. Coaching has changed my life, and I know it will for yours as well 20

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Miles Above The Rest In Helping Young Adults | SMALL BUSINESS

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After the accident, Vinciguerra attended a coaching school and started his own coaching school in August 2018 to help young adults overcome their personal issues and inspire others to make conscious decisions. That same month, Vinciguerra formed “Coach Miles V” as an outlet for young adults to talk about their situation in a non-judgmental format. It would become a way for people to open up about their hopes, dreams, struggles and fears with someone who has been down that dark road, he said. Since his company formed, he seeks to speak at area schools to inspire and motivate others with his story. “I truly believe in coaching. It’s a solution-focused process that helps y clients achieve their goals specific to their agenda. It’s non-judgmental, a space to be your authentic self, coaching helps my clients overcome those inner and outer blocks, whether its money, location (outer) or any limiting beliefs, assumptions or interpretations (inner). “It’s truly about gaining self-awareness and overcoming what is holding them back from achieving their goal. We develop the action plan, and the strategy for sustained success. Coaching has changed my life, and I know it will for yours as well,” he said. Feel free to download his free audiobook, “The Ultimate Guide to Grow and Develop Your Mindset & Self-Confidence,” on his website at www.coachmilesv.com. There, visitors may also access his upcoming events, his “Rich Young Minds” Podcast and his YouTube Channel for more free content. For more details, please contact Miles Vinciguerra either by phone at 401-602-8149 or by email at miles@coachmilesv.com.

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SMALL BUSINESS | Professional Development Vital To Recruit And Retain Employees In Tight Job Times

Professional

Development Vital To Recruit And Retain Employees In Tight Job Times

by Susan Breen and John Henderson

In today’s job market, an organization must consider all options available in order to recruit and retain high-quality and talented employees. In Rhode Island, with a low unemployment rate, it is becoming more difficult to find qualified applicants to fill positions and even more difficult to retain current employees in this competitive marketplace. Savvy employers and companies know that keeping your employees engaged in their work is a key factor to your business success and employee satisfaction. In fact, Gallup has determined through its polling and research that 87 percent of the global workforce is not engaged at work. Employee engagement is often defined as the “emotional commitment an employee has to the company and its goals.” If 87 percent of your workforce may not be engaged, that can spell disaster for an organization’s longevity. Investing in your people is, undoubtedly, one key factor for retaining and engaging your current staff.

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Here are the top five reasons to invest in the professional development of your employees:

1. It helps you attract and keep great employees.

Employees talk and tweet and Facebook. If your employee is happy and engaged, they will be your best ambassador for recruiting new talent and they will stay with you. One caveat is that there must be growth opportunities coupled with the training investment. People look for horizontal or vertical growth to stay engaged and retained.

2. It keeps your employees engaged at work. A study

conducted by Udemy, an online learning and teaching marketplace, noted that the optimal amount of learning on average is 30-50 hours per employee on an annual basis. This learning can be focused on their particular job skill and soft-skill training. The format does not have to be a formal training setting but can be on-the-job mentoring, learning, coaching, etc.

Professional Development Vital To Recruit And Retain Employees In Tight Job Times | SMALL BUSINESS

The smart companies look to provide that leadership training to the promoted manager. A good leader stays and so do their direct reports. 3. It helps you “grow your own.” At EANE, we often hear

that employers have been promoting from within but soon discover that the newly promoted manager or supervisor does not have the leadership skills needed. The smart companies look to provide that leadership training to the promoted manager. A good leader stays and so do their direct reports.

4. It saves money. It is estimated that the expense of

recruiting and training a middle manager can be equal to six to nine months of the candidate’s salary. Investing in the professional development of an employee you retain is much less expensive.

5. It forces you to look to the future. Developing a

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strategic plan is a first step. Once you have the direction outlined you can look internally at your current staff and conduct a gap analysis to see what skills you will need to help you achieve your goals.

One EANE member organization and Rhode Island-based company that truly understand the value of investing in their employees to retain top talent is AIPSO, a non-profit management organization and service provider to insurance industry groups responsible for administering the residual market. Michelle Cunniff, HR Services Director for AIPSO explains: “AIPSO management understands that self-directed and organization-sponsored learning events increase motivation and commitment to the organization.” For example, AIPSO sponsored an onsite EANE program called Principles of Leadership designed to help their managers become more aware of their work styles and improve their management skills with a deeper understanding of their leadership impact. Investing in your employees is no longer a choice in today’s tight market for labor. Protect your investment in outsourced training by looking at the reputation of the training provider; look internally for those employees who can be a trainer, coach, mentor; and, conduct a needs-assessment to determine exactly who would benefit from training so that they, in turn, can benefit your organization. Susan Breen is the Membership Engagement Specialist for the Rhode Island region for the Employers Association of the NorthEast (EANE). John Henderson is the Director of Learning & Development for EANE. With over 900 members in Rhode Island, Massachusetts and Connecticut, EANE provides resources for organizations to maximize employee engagement and retention while minimizing risk. www.EANE.com

www.risbj.com | volume eight issue one

SMALL BUSINESS | Monthly Learning Tips For Rhode Island Small Business Owners

MONTHLY LEARNING TIPS FOR RHODE ISLAND SMALL BUSINESS OWNERS:

New Year

New Business ! organizations, families, children of any age (from 18 months to 18 years of age), bridal and baby showers, gender revealing parties, birthdays and fundraisers. Kendra uses current research and scholarly resources from a wide variety of disciplines to inform her workshops. In her workshops, Kendra teaches people how to observe and communicate more effectively. She shows people how to produce art in the medium that will work best for them to improve their business performance. Each workshop focuses on providing people with simple, enjoyable activities which will help them to continue to improve their skills without investing more than a few minutes a day. Samples of these concepts and activities are featured in Studio Videnda’s YouTube channel.

by Ronald G. Shapiro, PhD1

This month’s learning tips come from Kendra Watenpaugh Houston, an artist from Texas who recently relocated to Rhode Island to open her own business, Studio Videnda. Kendra’s LLC, Studio Videnda, was organized on November 9, 2018. Her primary mission is to support businesses as they discover, develop and promote the best characteristics of its people through various forms of art. Fittingly, the word ‘Videnda’ in Kendra’s business name is derived from the Latin word meaning something one needs to observe to understand the character of a person or place. Kendra accomplishes this in her business by offering a variety of workshops that focus on specific businessrelevant skills, or more general topics such as leadership development, communication, providing feedback and evaluations, team building, stress management, improving memory and developing creative skills. She is also pleased to offer workshops or art commissions for social

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Kendra chose Rhode Island as the home for her business because she and her husband Cole believe Rhode Island is beautiful, business friendly, cost effective and close to major hubs such as Boston and New York as well as the seashore and the mountains in upper New England. They were already familiar with New England as Kendra graduated from Franklin Pierce University in New Hampshire and Cole graduated from MIT. When she is not doing business workshops, Kendra enjoys developing her own art work such as stationary, jewelry, holiday crafts, and hand-painted clothes and accessories. She markets some of these items in her web shop, The Casual Reply. Kendra suggests that businesses use art to improve business results: • Doodle!!! Doodle a lot, especially during business meetings!!! Yes, that is right. Kendra reports that doodling is better than taking any other form of notes in

school as well as in business meetings!!! Doodlers will come up with more creative solutions and remember more of what is being said at meetings! • Don’t underestimate creative ways to learn and improve skills. o Think outside of the box. o Improve listening and observation skills by participating in art projects. Art is a great way to exercise one’s brain. Time invested in art will pay dividends in terms of improved business results. • Slow down. Pay attention to details. Avoid costly mistakes. • Go outside for a walk in natural settings every day. If your office is in a concrete jungle with no parks nearby, view parks and nature online for at least 5 minutes every day (even if you think you are too busy to do so). • Further explore the value of nature through drawing a picture or making a photo of something natural every day. She also offered tips for people thinking about establishing their own business: • Check out the online resources by typing “Create an LLC” into your favorite search engine. • Find a Senior Core of Retired Executives (SCORE) advisor for helpful, free recommendations. • Go to networking events. There are so many people, especially at Rhode Island Events, interested in helping you establish your business. Kendra would be delighted to suggest ways in which you may improve business results by implementing various forms of art in your day-to-day business routine (as well as doing designer art work and workshops for you). Please contact Kendra via email kendra@studiovidenda.com or telephone 401.484.1713 and be sure to check out her websites (StudioVidenda.com and TheCasualReply.com). 1 I would like to thank Industrial Consultant Dr. Margarita Posada Cossuto for helpful comments.

Dr. Ronald G. Shapiro

Independent Consultant in Human Factors, Learning and Human Resources

www.risbj.com | volume eight issue one

SMALL BUSINESS | Eighth Annual Frozen Clam Dip & Obstaplunge

L A I D - B AC K

F I T N E S S

Warwick-based fitness company Laid-back Fitness offered Rhode Islanders an exhilarating start to the New Year at the eighth annual Frozen Clam Dip and Obstaplunge — the world’s only New Year’s Day plunge featuring an obstacle course — at Goddard Memorial State Park Beach in Warwick today. The event’s $12,500 in proceeds benefitted MENTOR Rhode Island, a 501(c)3 non-profit organization dedicated to the expansion of quality mentoring services for Rhode Island youth, on the first day of National Mentoring Month. More than two hundred participants chose between the “Frozen Clam Dip,” a traditional plunge directly into

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Narragansett Bay, and the “Obstaplunge,” a half-mile American Ninja Warrior style shoreline obstacle course that preceded the chilly dip. New to this year’s event, a Kids’ Ninja Zone offered spectators open play options on Laid-back Fitness’ custom obstacles, including a mobile warped wall. Since its inception in 2012, the Frozen Clam Dip & Obstaplunge has raised more than $53,500 for MENTOR Rhode Island through its unique New Year’s Day offerings. In 2018, the MENTOR Rhode Island experienced an increased need for donations after losing more than $100,000 of funding for its Warwick Mentor Program. “We’ve gotten a real-world example of the life lessons the Frozen Clam Dip and Obstaplunge teaches,” said Jo-Ann Schofield, president and CEO of MENTOR Rhode Island. “With participation from others, we can celebrate the New Year, the grit and determination it takes to overcome obstacles, the start of National Mentoring Month and the continuation of the Warwick Mentor Program.” A mentor since 2011, founder and president of Laid-back Fitness and CCRI 10K Small Businesses graduate Ryan McGowan embraces a training philosophy that helps individuals hone mental strength to overcome challenges inside and outside of the gym.

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Eighth Annual Frozen Clam Dip & Obstaplunge | SMALL BUSINESS

B E N E F I T

M E N TO R

“The Frozen Clam Dip and Obstaplunge underscores what we teach at Laid-back Fitness: that a resilient mindset is the key to enduring discomfort and achieving goals beyond our comfort zones at the gym, at work or in life,” said McGowan. “Our hope is to instill a similar mindset in our participants, so that they feel inspired and equipped to conquer challenges of every kind in 2019.” The Frozen Clam Dip & Obstaplunge is part of Laid-back Fitness’ philanthropy program, LbF Love, which seeks to give back to the local community.

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organization dedicated to the expansion of quality mentoring services for Rhode Island youth. The non-profit serves as an umbrella organization for dozens of mentoring programs around Rhode Island offering help with recruitment, training and technical assistance. MENTOR Rhode Island is directly responsible for the coordination of the school-based mentoring programs in Warwick, Woonsocket, Newport, Middletown, Cranston, Pawtucket and Providence. For more information, visit www.mentorri.org.

About Laid-back Fitness Laid-back Fitness is a Rhode Island-based, familyfriendly fitness company that offers personal training, group classes for children and adults, ninja-themed birthday parties and guided obstacle course rentals. The company specializes in natural movement and emphasizes physical competence and play, with increased fitness as a side benefit. Laid-back Fitness empowers individuals to utilize their bodies to become more adventurous, and provides them with the mental strength and resilience required to overcome life’s obstacles. For more information, visit www.laidbackfitness.com.

About MENTOR Rhode Island MENTOR Rhode Island is a 501(c)3 non-profit

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