RISBJ Volume 2 Issue 7

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volume two issue seven

The “Freeze” May Be Over for Real Estate in Rhode Island

Marketing to Millennials Loyalty often starts with the WHY Does your baloney have a first name?

FEATURED NON-PROFIT: Rhode Island Financial Coaching Corps FEATURED CHAMBER: East Greenwich www.risbj.com | volume two issue seven

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from the founder

We all know that entrepreneurs are risk-takers, who are passionate business owners that see an opportunity and strive for success. We also know that many of us are slightly crazy, and at times may have a “tiny” issue with letting go of control. So in the midst of our daily controlled chaos, how do we find the time to accomplish all of those things that help us succeed?

The concept of teamwork is often seen in sports, with a team of athletes competing to win. In business, our team, more often referred to as our staff, helps us to achieve our goals of running a successful business. And while every business has a different definition of success, our team plays an equally important role. As the leader, we must address several key factors in building a successful work team: Shared Vision – Does your staff know what your business stands for and what your goals are? Your team needs to understand the impact you are trying to make with your business and what the end goal is. They need to understand not only WHAT you do, but more importantly WHY you do it.

Commitment – Having a committed staff shows that they believe in your vision and will work with you through challenges you face to accomplish your goals. Without having shared vision, commitment can be difficult to find.

Flexibility – Let’s face it, in business we never know what challenges will be thrown our way. Every day we risk facing something that seems insurmountable at the time. Having a flexible team helps us to get through these challenges as they arise. The more committed your team, the more flexible they will be.

Responsibility - Does each team member know what they are responsible for? Our teams won’t be able to acknowledge failure or success if they don’t understand their responsibilities. Clearly defined roles in any organization will help to ensure that everyone knows what they can do to be successful and what they could have done better when they aren’t.

It’s been two years since we launched RISBJ, and as our team grows, I’m proud every day of the role each of our team members play. Together, we work hard to achieve the same goal each month, which is to bring the Rhode Island business community a quality product that helps provide educational resources and inspirational stories of successful companies.

We hope you enjoy this issue of RISBJ, and we look forward to bringing you our next issue which will feature the 2014 Entrepreneurial Women to Watch.

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2014 Entrepreneurial Gil Lantini President, Founder Ralph Coppolino

Women

to Watch

Vice President, Operations Carolyn Drumm Business Development Manager John Resnick Marketing Coordinator Mike Casale Senior Designer Pam Walsh Editorial Assistant Sara Celano Production Assistant Intern Staff Kyle Votto Mike DiSano Denise Wood Contributing Writers Richard Austin Chris Barnett Kristin Carcieri-MacRae Dana D’Orsi P. Lawrence Fagan Adam Harvey Attorney Daniel Holmander Dave Lubelczyk Ralph Mollis Frank Motta David Piacitelli Elizabeth Pierotti Patricia Raskin Bob Salvas Dr. Ronald G. Shapiro Tim Sullivan Matthew Spoehr Mayor Angel Taveras Nancy Thomas Special Thanks Greg Gonsalves Dave Lubelczyk

Join RISBJ on Monday, October 28th as we celebrate the First Annual Entrepreneurial Women to Watch Awards at The Dorrance in Providence

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ŠMMXIII Rhode Island Small Business Journal

www.risbj.com | volume two issue seven

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Table of Contents

6

08

Secretary of State Ralph Mollis

10

Spotlight on Startups

13

SBA: Meet The Lenders

15

Does Your Baloney Have A First Name?

17

Stretching Out of Your Comfort Zone to Succeed

18

Will a Company Pay for Your Product Ideas?

20

Planning to Learn

22

A Room With a View

24

Marketing to Millennials

26

Traits of a Disorganized Business

27

Top 10 Business Communication Bloopers

27

Networking and Workshops

28

Capitol City: Improving our Infrastructure and our Economy

29

Only Dead Fish Swim with the Current

30

Understanding Managed IT Services

31

What is the Difference Between a Legal Name, Trade Name, and a Trademark?

32

Healthcare Competitors Joining Forces to Put Patients First

34

Loyalty Often Starts with the WHY

36

Featured Story: The “Freeze� May Be Over for Real Estate in Rhode Island

46

Strategy Secrets of Successful Companies, Part 1

48

Featured Chamber: East Greenwich Chamber of Commerce

50

Beer and Marketing

53

A Simple 4 Step Process for Effectively Delegating Tasks

54

Featured NonProfit: The RI Financial Coaching Corps

56

Ocean State Small Business Seminar Schedule

60

Good Things are Happening in Our Backyard

RISBJ | rhode island small business journal

www.risbj.com | volume two issue seven

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SECRETARY OF STATE | Ralph Mollis

Annual Reports Are Due

by Secretary Of State Ralph Mollis

Secretary of State A. Ralph Mollis is reminding the thousands of limited liability companies registered with his office that state law requires them to file annual reports with his office beginning in September.

Approximately 20,000 Limited Liability Companies (LLCs) ranging from car dealers to mortgage companies to restaurants are subject to the requirement.

Secretary Mollis posts the filed reports on his website at sos.ri.gov.

The public can search the database by the name of LLC, the location and the purpose among other criteria. Contact information is provided for each company.

“This transparency is consumer-friendly and ensures that the public has a place to turn for information about businesses,” said Mollis.

“Filing annual reports shows their commitment to openness, and that can make consumers feel more confident about doing business with them.”

LLCs are a type of business entity that have the liability-shield advantages of a corporation and the flexibility and tax pass-through advantages of a partnership.

Thanks to improvements to the Secretary of State’s website, LLCs can file online. Every LLC has been assigned its own unique Customer Identification Number and Personal Identification Number in order to ensure security.

“Our customers have really embraced the upgrades we have made.

More than half the annual reports filed last year came over the web,” said Mollis. “We’re making it easier for companies to do business in Rhode Island.”

LLCs can also choose to file by mail or in person at the Secretary of State’s Business Services Division, 148 West River St., Providence, during normal business hours.

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RISBJ | rhode island small business journal

Ralph Mollis | SECRETARY OF STATE

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Failure to file an annual report can result in fines and the revocation of an LLC’s Certificate of Organization or Certificate of Registration.

Those certifications provide them with the legal basis for conducting a variety of business-related activities in Rhode Island.

At other times of the year, non-profit and for-profit corporations are also required to file annual reports with the Secretary of State.

Filing annual reports shows their commitment to openness, and that can make consumers feel more confident about doing business with them “Under state law, my office is responsible for corporate record-keeping.

I am committed to giving Rhode Islanders access to current and accurate information. The business community deserves credit for being my partner in this effort,” said Mollis.

The Secretary of State’s office works with every corporate entity registered to do business in Rhode Island – 60,000 in all. The office also oversees recording commercial liens and protecting corporate trademarks and provides advice to start-up businesses.

Secretary of State Mollis is committed to making it easier for Rhode Islanders to vote, making it easier to do business in Rhode Island and making government more open and accessible. For more information about the programs and services the Secretary of State offers Rhode Islanders, visit sos.ri.gov.

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STARTUPS | Spotlight

Open Date: October 2011 Employees: 1 Website: daniellebisbano.com Twitter: @DanielleBisbano Facebook: / DanielleBisbanoMakeupArtistry Biggest Challenge: Finding the perfect time. There will never be a perfect time. I got tired of waiting for every single detail to line up perfectly, and I just went ahead and did it. It was the best decision I ever made.

Profile: I provide on-location makeup artistry services for weddings, photo shoots, fashion shows, film, private consultations and instruction, and pretty much anything else people want makeup for. Since starting my business, I have expanded to include hair and massage services though my lead hair stylist, Liz Dufault and Licensed Massage Therapist, Heather Erler.

I am a businesswoman at heart, and I am thrilled to be able to use my 15+ years of experience in the corporate world to pursue my passion as a business. It is tremendously gratifying for me to be able to work so closely with a client and often on the most important days of their lives.

My training was specifically focused on HD film and the unique challenges it presents. I am

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especially grateful for the various opportunities I have had to put that training to use for photo shoots and television work here in Rhode Island.

Open Date: March 2012 Employees: 1 Address: 5 Hillview Ave

Providence, RI Website: organizedforlife.net Twitter: @orgforlife Facebook: /laurenorganizedforlife Biggest Challenge: The biggest challenge when opening my business was deciding which networking events and avenues to take in order to get in front of prospective clients. I am a lifelong RI resident and love the camaraderie within RI. I see this chance to connect with everybody as an exciting opportunity rather than a challenge!

Profile: I have been in love with simplifying spaces and interior design for as long as I can remember. I believe the spaces we work and live in influence many aspects of our lives. I also enjoy giving back to the community and helping others.

After working for years in sales and business development, with the encouragement of friends and family, I took a leap of faith and started Organized for Life in March of 2012. I help others purge through the clutter, simplify their space and open it up for positive changes! The mission of Organized for Life is to help others work through their clutter and embrace simplicity. Giving back and being of service is also at the core of the business. I have hosted fundraisers for both the Leukemia Society of RI and The Tomorrow Fund by selling donated items from clients that were collected while helping them clean out their space. I truly love what I do.

Open Date: January 2013 Employees: 2 Address: 10 High Street

Wakefield, RI Website: MADink.bigcartel.com

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Meet The Lenders | SBA

Meet the Lenders On Friday, October 4th, from 12:30-4:30pm at the Warwick Public Library, the U.S. Small Business Administration’s Rhode Island District Office will be holding a unique event called “Meet the Lenders.” This “matchmaker” will provide small business owners and those wishing to start a small business with the opportunity to meet face-to-face with SBA loan officers from 12 area lenders. Each “appointment” will last 15 minutes and will serve to open a dialogue between lender and potential borrower in an effort to help the small business gain access to the capital it needs to start or grow. Small businesses will have the chance to meet with up to 8 lenders in one afternoon.

Small businesses will also have the opportunity to meet with counselors from SBA resource partners, SCORE, the Rhode Island Small Business Development Center, and the Center for Women & Enterprise to receive technical assistance to help increase the strength of their “sales pitch” to the lenders.

The reason SBA put this event together was because we wanted to find a new and innovative way to connect the small business community in Rhode Island with SBA lenders. We run an event that is very similar to this for government contracting and it has been very successful, so we decided to apply that idea to lending.

“One of the most frequent concerns I hear from small business owners is access to capital and the ability to meet business lenders. Entrepreneurs will have the opportunity to meet one-on-one with SBA lenders to discuss business financing,” said Rhode Island District Director, Mark S. Hayward. “This is an excellent opportunity to present your business plan and discuss finance needs.”

Anyone interested in registering should contact Matthew Spoehr at the Rhode Island District Office to receive the registration form. He may be reached by phone at (401) 5284561 or by email at matthew.spoehr@sba.gov . All participants MUST complete the registration form prior to attending. No walk-ins will be admitted the day of the event. Space is limited to the first 50 registrations, so sign up today!

providing benefits such as health care is one important tool they have to help retain their talented workforce and compete for skilled employees www.risbj.com | volume two issue seven

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RISBJ | rhode island small business journal

Does Your Baloney Have A First Name | SMALL BUSINESS

Does Your Baloney Have A First Name?

by Dave Lubelczyk

Most of you probably answered O-S-C-A-R, but your baloney is most likely named O-NS-A-L-E. The reality is that even though we all know the jingle, very few of us actually buy the product.

Every day companies spend millions of dollars on clever ads, catchy jingles and other ways to capture our attention all in the name of building brand awareness.

Most companies feel that brand awareness equals brand strength. The theory is that if the company has someone’s top of the mind awareness (the first name to pop into someone’s mind when they think about a product category), then the person will faithfully buy the company’s products.

We know the tag lines, we laugh at the ads, we all sing along with the jingles, but are we loyal to these companies?

We know the tag lines, we laugh at the ads, we all sing along with the jingles, but are we loyal to these companies? Probably not, and in most cases we do not even buy these products. A number of years back, millions loved to say, “WASS-UP?” but few ever bought the beer.

Recently, I spoke with one local business owner who spends a quarter of a million dollars each year on radio advertisements which he cannot directly link to a single sale.

When I asked him why, he replied, “I am building brand awareness. I am making sure they know who I am, so when they need me, they will call.” The real question is…will they?

I grew up on Cape Cod, and each year I knew summer had arrived when I heard the Thompson’s Clam Bar song. As I write this article, the tune is playing in my head, but in the 25 years I lived on Cape Cod, I never once took “Route 28 to the clam bar sign for the tastiest eating from noon to nine.”

The notion that brand awareness guarantees brand loyalty is flawed logic. Companies often point to the popularity of these “brand building” ads and call them a success saying, “everyone knows who we are and they love our ads.” But awareness doesn’t mean guaranteed sales, let alone brand loyalty. Just because we know all the lyrics to a local glass company’s ad, it doesn’t mean we will call them when our windshield is broken.

Even though awareness is important at the early stages of brand development, it is a very small part of building a successful brand. In order to create true brand loyalty, you must develop a meaningful relationship with your potential customers.

If this relationship is based on trust and you provide your customers with consistent experiences beyond their expectations, you will be able to recruit loyal advocates.

These loyal brand advocates will share the company’s vision, care about its success, see the company’s products as the only logical choice and spread the word to others.

Therefore, building a lasting relationship with people who become your advocates is the only way to long term brand success. If you think that awareness alone will get you there, then you are full of B-O-L-O-G-N-A!

Dave Lubelczyk Image Identity imageidentity.com

www.risbj.com | volume two issue seven

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| SMALL BUSINESS

Stretching Out Of Your Comfort Zone to Succeed

by Patricia Raskin

the devil you know is preventing you from the good you don’t know yet

Patricia Raskin Raskin Resources Productions www.patriciaraskin.com

Most of us are creatures of habit and don’t like change. Change can be scary.

But change is also a great opportunity for growth. When you have to make a change and do things differently, it doesn’t feel good, especially when you have been comfortable with the way things are, even if it is not good for you. Examples of this include having to change your work strategy, job, coworkers or business partner.

more comfortable to stay with what is familiar. The saying, “better the devil you know than the devil you don’t” could be rephrased to say, “the devil you know is preventing you from the good you don’t know yet.”

What I have found about having to make change is that it makes me really look at what is important to me and what is not. There are things about the change that I definitely like and want to keep, and things that I definitely do not like and do not want to keep. It puts me right smack in the middle of myself because it forces me to see that which I value and that which I can let go of.

How many people do you read about who have gone from failing relationships, jobs, health, and selfesteem to lives that are thriving? There are many, and I interview them on my radio shows. My advice on this is to give yourself credit for the bold steps you take to break away from what is comfortable but not working in your life. You need to take baby steps and acknowledge each and every one of them. It’s like climbing a mountain. If you look at the top from the bottom, the climb seems insurmountable. But if you take each step steadily, pause in the process and keep going, it’s amazing how far you have come when you look back.

If you can see change as an opportunity to clarify your goals and dreams and values, then it is of great value, especially when you know that the change is necessary for business satisfaction and success. Those who have made their dreams happen, do it from trial and error and from making changes and risking failure. We learn from our mistakes. That is not to say that change is easy. It isn’t. It’s much

Acknowledgement of yourself and your progress is vital. The foundation is built upon your own self-esteem and worth. Without that, the foundation crumbles. You need to think things out, weigh possibilities and alternatives and foresee consequences. Then, you can make a clear decision based on the information you have now, not tomorrow, and then you can proceed without looking back.

Patricia Raskin, President of Raskin Resources Productions, Inc., is a radio talk show host, award-winning producer, media coach and speaker. She is the host of “Positive Business” on AM790 on Fridays from 3-5PM, “Patricia Raskin Positive Living” on WPRO -630AM & 99.7FM on Saturdays from 3-5PM and “The Patricia Raskin Show” on WSAR – 1480AM on Fridays from 10-noon. www.patriciaraskin.com

www.risbj.com | volume two issue seven

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SMALL BUSINESS | Tips From The Trenches

will a company pay

for your product ideas?

Tips From The Trenches

by Elizabeth Pierotti

The short answer is, it could happen... but not without some effort and strategic planning on your part. Over the years, I have met creative individuals who propose to “share the wealth” if someone else does “the work” to develop their new ideas. Anyone who is familiar with what’s involved in “the work” will not be surprised to hear that

property rights is required, and that includes some evidence such as trade secrets, formulas, know-how, patents, drawings, samples or the like. Short of having these, there are other practical steps you can take.

For starters, document the idea and define it - how it works, what it does, and why it is better than whatever else is currently on the market. The challenge will then be to convince a company decision maker that your claim of ownership has legitimacy.

Be prepared to make this case before approaching any company.

Find the right prospect. Companies are not waiting for good ideas to drop on their doorsteps. As a matter of fact, they may not even entertain ideas from outside their four walls. Many have employees whose job description includes keeping the pipelines full of new products. Also, many large companies today prefer to acquire rather than innovate. For them, it’s easier to buy a product or an established brand that is already making money rather than take a chance on developing and launching an unproven concept. They do this because they want to grow quickly with little risk and they have deep pockets. Rather than target

it’s easier to buy a product or an established brand that is already making money rather than take a chance on developing and launching an unproven concept these folks get few, if any offers. Others will introduce themselves as “idea people” who just want to sell their creative ideas to companies and be paid for them. In these cases, I usually ask how much development has been done and whether they’ve searched for prospect companies. More often than not, the answers are “none,” “no,” and if a company is mentioned, it is usually the giant in the category. While these may sound like examples of dreamers rather than doers, there is merit to the concept of getting ideas in front of companies sooner rather than later, especially when projects require significant resources to complete. For those who are willing to get down to business, this could be a viable option. Consider the following points: Take your idea seriously. We can certainly take credit for our ideas, but there is a difference between “taking credit” and an expectation of “getting paid” for them. The bottom line is that in the commercial world, establishing

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these companies, search for smaller, more accessible and preferably local prospects that are open to new and creative ideas to increase market share.

Get creative. While companies may not be interested in buying “out” your idea, they may be willing to buy “into” it if you find the right one and come up with a proposal that works for everyone. What about offering to develop it with them or on their behalf in exchange for some royalty and retainer or joint partnership? You get to see your idea come to fruition, have additional resources at your disposal, and can make money for the company and yourself.

Think about it. You have a creative idea and it has yet to be developed. Ask yourself: what will it take to get this product commercialized? And, don’t wait for luck; make your own breaks.

Elizabeth Pierotti The Inventing Life www.theinventinglife.com

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www.risbj.com | volume two issue seven

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SMALL BUSINESS | Planning to Learn

Planning to Learn

by Dr. Ronald G. Shapiro

I enjoyed reading Ivan Misner and Peter George’s article A Culture of Learning in Volume 2 Issue 3 (July 2013) of The Rhode Island Small Business Journal (RISBJ). Ivan and Peter explain that part of working “on” a business is devoting time to professional development and go on to say that most successful business professionals embrace a culture of learning. Ivan and Peter also suggest that if you haven’t spent money on business education in the past year, you should think about what you want to learn to build your business and register for something immediately.

Ivan and Peter are 100% correct that you should be investing time and possibly money in learning so that your business will be more successful. I would, however, suggest that you employ a more rigorous methodology to initiate your learning process for you and all of your employees. In Volume 1 Issue 2 of the RISBJ, I introduced a technique for doing this in my article Become an A+ Employer, Differentiate Yourself from the Rest. The traditional start of the academic year is the perfect time to do learning and development planning. Thus, now would be a good time to begin to implement the following methodology.

Step 1: Document your business goals.

It is easier to get to a destination if you know where you are and where you are going.

Where is your business today? Where do you want it to be in the future? What do you and your employees need to learn to move your business forward?

Step 2: Share your business goals.

Let your employees know what your business goals are. Listen carefully as you

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RISBJ | rhode island small business journal

solicit input from your employees on how to improve your goals.

Step 3: Prepare an employee learning and development plan.

Prepare an employee learning and development plan template. Suggested sections for the template include: •

Employee’s name and phone number

•

Statement of a) where employee is today, b) where they would like to be in the future, and c) general plan to get from a to b.

may complete a rough draft of their plan prior to meeting with you and complete it after the meeting, or you may meet first and either you or your employees prepare the documentation after your meeting. During your meeting, discuss the development activities (e.g., apprentice opportunities) which you would be able to offer or fund (e.g., courses or conferences) for your employees. Document these as well.

Step 5: Implement plan.

•

Specific skills the employee needs to develop to meet overall business goals as well as their own goals.

Step 6: Review plan regularly to be sure that it is implemented.

By all means, don’t leave out any of your employees in the process (not even yourself). Consider doing a plan with your children, too!

•

Potential learning activities (including courses, job rotation, online education, meetings, apprenticeships) to acquire

By showing your employees that you care about their development, you may build increased employee loyalty. By planning

I would, however, suggest that you employ a more rigorous methodology to initiate your learning process for you and all of your employees •

the skills to meet the goals.

A statement that the plan is not a commitment by either employer or employee. (You may wish to have your attorney draft this statement.)

Step 4: Complete plan for each employee.

Distribute the plan template to your employees so that they can prepare to meet with you and complete the plan. Employees

how you will spend your learning dollars, you should obtain better value for your learning investment. By providing a mechanism for developing a highly skilled workforce, you should be able to be a sustainable, safer, more efficient, more productive (and consequently more profitable) workforce.

Dr. Ronald G. Shapiro Independent Consultant in Human Factors Learning & Human Resources

Planning to Learn | SMALL BUSINESS

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SMALL BUSINESS | A Room With A View

A ROOM WITH A VIEW The case for healthy surroundings has never been stronger than it is today. In the face of rising healthcare costs and the need to get ever more productivity out of a workforce, it is wise to look to the design of an office environment to promote health and productivity.

Over the years, many interior designers have been influenced by “Feng Shui” when designing office spaces. The translation of “Feng Shui” is “Wind” and “Water,” and its practices seek to integrate one’s surroundings into harmony with the natural world. While some may scoff at philosophies such as this, there are recent scientific findings that support the benefits of “Feng Shui” in terms of healing; research has shown that views of nature and an appearance of open space, light and fresh air can help people become not only healthier, but also happier and more productive. While it is difficult to measure happiness, there are ways of measuring health in a clinical environment.

A groundbreaking study was published in 1984 by Roger S. Ulrich called “View through a window may influence recovery from surgery.” Dr. Ulrich postulated that patients in rooms with a view of trees or nature recovered more quickly than patients whose view consisted of other buildings or walls; something that Dr. Ulrich considered to be “common sense” had not been demonstrated by scientific study to be true.

The study observed patients in the same hospital, receiving the same operation. The data compared was the length of stay and levels of pain relieving drugs used in the recovery process. The results showed that those who had a view of a grove of trees used fewer drugs and were discharged almost a day earlier than those who had a view of a brick wall outside their windows.

Over time, healthcare facilities have altered their facility designs to incorporate more light and perceived outdoor space into their designs. Esther Sternberg in her book, “Healing Spaces,” is particularly eloquent at presenting the

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RISBJ | rhode island small business journal

by Tim Sullivan

case for incorporating a form of an Asclepian spirit into the design of spaces to better promote well-being.

Similar results can be achieved in the workplace in the form of improved productivity and morale with just a few changes to the design of the workplace. Fortunately, it is neither difficult nor expensive to make small changes to the design of a workplace and see healthy and productive benefits.

Suggestions for healthy changes include: •

Lowering cubicle height from the standard 67” height to 54” or even 39” in order to give workers the sense of a much bigger, open workspace.

•

Creating flexible spaces that encourage comfortable collaboration among workers is great for knowledgebased offices.

•

Attention to wall color can help make a space more soothing and, therefore, make workers more productive

•

Maximizing window space with views of nature.

•

Avoiding the temptation to use a drop ceiling can help keep a sense of space by maintaining the height of a room.

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www.abmgroupllc.com www.risbj.com | volume two issue seven

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SMALL BUSINESS | Marketing To Millennials

Marketing to Millennials:

How to Reach the Digital Native

by Adam Harvey

Marketers these days are in a frenzy trying to figure out how to reach the Millennials, or Generation Y as they’re also sometimes called. These young people are expected to spend about $10 trillion dollars in their lifetimes, so understanding them and knowing how to get their attention is becoming rather important. They’re a wily bunch for sure, but there are some really great things about them that make marketing to them an adventure. Let’s take a look!

Millennials are folks aged about 17-34 who are often referred to as “digital natives.”

This means that they were born immersed in digital media and never knew the dark days before the Internet, when we picked up the phone to share information with our friends, and we had to actually look things up in books or remember facts instead of depending on Google.

Of course, not everyone between the ages of 17-34 fit the same stereotype. Not all Millenials are exactly the same. They’re a diverse group of individuals just like any other generation, but there are some general things they share in common that we need to

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RISBJ | rhode island small business journal

keep in mind when trying to reach them.

Millennials and traditional marketing It makes sense that since this generation tends to be superconnected through social media that it would be the best way to get through to them. While it’s certainly crucial

generation is not easily impressed, so it’s important to make sure your direct marketing is personalized and that you’re actually offering them things they want. They don’t want a free carpet cleaning, so don’t even bother.

a study by Time Inc. reveals that Millennials switch attention between devices (TV, tablets, cell phones, computers, magazines, etc.) every two minutes to have a presence in the social sphere, a better way to reach them is through direct mail.

This seems like surprising information, but direct mail actually does influence Millennials to buy things. In fact, according to a study done by Nielsen, it’s among the biggest influencers! Combine that knowledge with a little data mining and you’ve got yourself a winning combination. However, this

Email marketing Reports of the death of email have been largely exaggerated. It turns out that email is also an effective way to reach Generation Y. According to a Nielsen study, more than 70% of Millennials said they enjoy getting emails from retailers as long as those emails are specific to their interests. They’re also likely to click on paid search ads and follow a brand on Twitter and Facebook.

How to Reach the Digital Native | SMALL BUSINESS

Millennials and social media Even though social media is a great way to get the attention of your average Millennial, there are some pitfalls to that. Generation Y-ers have scads of Facebook friends and Twitter followers, so their feeds are clogged with updates from all of those contacts.

They’re only going to see your messages a small percentage of the time, and they are likely to ignore advertisements. This doesn’t mean you shouldn’t bother with social media, but you need to diversify your methods of engagement. Generation Y is also active on YouTube and Tumblr.

Short Attention Spans Even the largest and most successful brands on social media with tons of engagement, quality products and loyal fans have to work awfully hard in many ways to get the Millennial’s attention.

A study by Time Inc. reveals that Millennials switch attention between devices (TV, tablets, cell phones, computers, magazines, etc.) every two minutes. That’s 27 times per hour! It’s hard to be truly engaged in anything for two minutes!

That sounds like bad news in terms of trying to keep their attention, and it is, but

it’s also good news because it means that you have many, many ways to get to them.

That said, any old thing won’t do for the Generation Y-er. They’re hard to impress, obviously, and since they move so quickly from thing to thing, whatever you do must really grab them.

70% of the Millennials surveyed say they always come back to the brands they love.

Loyalty, thy name is Millennial This group is also pretty loyal according to a whitepaper called The 8095 Exchange: Millennials, Their Actions Surrounding Brands, and the Dynamics of Reverberation by Edelman. 70% of the Millennials surveyed say they always come back to the brands they love.

So, they may be hard to impress and have short attention spans, but if you diversify your marketing efforts and put yourself in front of them in all the places where they hang out, you’ll have a solid strategy for marketing to Millennials.

Being omnipresent is always a good thing anyway, whether you’re marketing to this group or any other.

Adam Harvey GLAD WORKS www.gladworks.com

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400 Reservoir Avenue Providence, RI | 401.941.9710 www.risbj.com | volume two issue seven

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SMALL BUSINESS | Traits of a Disorganized Business

by Kristin Carcieri-MacRae

Do you expect high-quality service, attention to detail and a great experience when dealing with a business? I know I do! How many times have you left one business for another because their staff was disorganized? Have you ever lost a client due to your disorganization? When a business is disorganized, there are important qualities that are lacking.

•

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Can you relate to the characteristics below?

If you can, you may need to make some changes to the way your business functions.

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How quickly do you return phone calls or emails? We all would like a prompt response when dealing with a business.

Even if you don’t have time to respond, at least acknowledge the fact that you received the message and give them a time when you will be able to talk or email.

Missing scheduled appointments or showing up late for appointments? If you are a disorganized professional, please don’t make excuses why you missed an appointment or arrived late. Get organized and this won’t happen. Your client made the effort to get there and be ready for your appointment on time, and you should do the same.

RISBJ | rhode island small business journal

•

•

Physical files strewn all over the office?

It makes you wonder if your personal information will get mixed in the piles that are all over the office. If you have files on your desk and on the floor, I will guarantee that at some point clients’ files have been mixed. Your clients will take note if the files are all over the office and will form an opinion about the way you conduct business.

Are you efficient with handling your client’s business? Even if you are really busy and just can’t follow up, but you know you should, make a quick call or email to let them know that they are on your to-do list.

Distracted and unable to focus due to your disorganization? If you are distracted, your clients will pick up on this and will feel that they don’t have your full attention. Each client wants to be treated like they are your favorite and most valuable client.

Is your office in disarray? You will see files all over the floor, memos cluttering the bulletin board or taped to the wall, sticky notes stuck all over the desk, business cards everywhere, random paper piles all over the desk. This

environment doesn’t make a great impression on your clients, especially if your client is organized.

•

Is your front office employee organized?

If the first person your client sees is sitting at a disorganized desk, changes need to be made. Clients will immediately form an opinion of how the office functions if the first person they see is disorganized. Remember, you never get a second chance to make a first impression.

There are too many competitors out there. If you are searching for a new professional to do business with and they are both quality companies but one is organized and the other disorganized, which one would you choose?

It’s never too late to get organized. Your clients will appreciate that you are organized and will refer more clients to you and will spread the word about the great experience they have had with you. Your business will thrive and your revenue will increase. Your clients will have more confidence in you when you are organized. Your clients are expecting a great experience with you. Don’t disappoint them.

Kristin Carcieri-MacRae Owner Organizing In RI, LLC

Top 10 Business Communication Bloopers

by Richard Austin

We all love to watch the blooper reels from movies and TV. People embarrassing themselves can be pretty funny. However, in business communications, bloopers can destroy all your hard work.

Blooper 1: Never edit your work. Don’t worry about spelling (isn’t that what spell check is for?). So what if it occasionally uses the wrong word? That only makes it funnier! Don’t worry about tone or grammar either. The reader will assume you are so successful and busy that you can’t be bothered.

Blooper 2: Always deliver bad news by email. Not only do you avoid the need to take responsibility if it’s your fault, but you also don’t have to worry about answering any questions they may have, even if it could clear things up and make them feel better.

Blooper 3: Never have difficult conversations, such as providing negative feedback. Sure, this will probably allow the problem to fester and grow until it blows up, but hey, you may not even be working there by then.

Blooper 4: Don’t assert yourself. If you leave them guessing about what you need, you’ll see if they really can anticipate problems, which is a real plus in co-workers. Besides, if you act assertive, you might get noticed!

You know what they say about people in foxholes!

Blooper 5: React immediately to every issue, problem or perceived slight. This way, your true emotions will be expressed.

Don’t stop to think it through. After all, when you take a test, don’t they tell you to go with the first answer that comes to mind? If that is usually right, shouldn’t it work in other situations as well?

Blooper 6: Always fly by the seat of your pants. People love to see this – it shows what

you’re made of. Anyone can research and be thoroughly prepared, but you’ll want to show them that you can handle things on the fly. If it starts to go bad, get emotional. This has the added benefit of demonstrating how passionate you are.

Blooper 7: Always use the same mode of communications. The “one-size-fits-all” approach. Again, this will demonstrate how busy you are. Don’t think about how other people process information. That’s their problem, not yours.

Blooper 8: Adhere to the adage “people are people.” Sure, there are different ethnicities, religions, ages, sexual orientations and viewpoints, but again, that’s their problem not yours. Don’t worry about getting to know them. They should get to know you, and then they’ll understand you.

Blooper 9: Keeping with the “you’re a busy person” theme, communicate once, and assume the message was understood. If they have questions later, they can ask.

Blooper 10: Don’t worry about privacy issues or whether or not it’s a sensitive topic.

Get it over with. Send the letter or email as quickly as you can. (After all, you’re busy.) If it gets to the wrong person by mistake, well then everyone gets a good laugh.

Bonus Blooper: Don’t listen to others. You know you’re right and that your way is best.

Compromise shows weakness!

Monday, October 7 Cranston Country Club East Greenwich Chamber of Commerce EG Chamber’s Fall Golf Tournament 12:45pm 69 Burlingame Rd. Cranston, RI Wednesday, October 9 Newport Chamber of Commerce HR Roundtable - Navigating Change for Employers: DOMA in Rhode Island 8:30am-9:30am 35 Valley Rd., Middletown, RI Thursday, October 10 It’s Who They Know That Counts: Advanced Power Networking Centerville Seminar Center 9:00am-11:00am 875 Centerville Road, Building 2, Suite 5 Warwick, RI Friday, October 11 Newport Chamber of Commerce Seminar: O.M.G. Why Can’t I Text My Boss?

12:00pm-1:30pm 35 Valley Rd., Middletown, RI Tuesday, October 15 33 Keys to Increasing Sales!!!

Centerville Seminar Center 1:00pm-3:00pm 875 Centerville Road, Building 2, Suite 5 Warwick, RI

Richard Austin President The Learning Curve LLC

www.risbj.com | volume two issue seven

27

CAPITAL CITY | Improving Our Infrastructure and Our Economy

IMPROVING OUR INFRASTRUCTURE AND OUR ECONOMY

by Mayor Angel Taveras

In recent months, the sounds and sights of construction crews, utility trucks and workers have been present on the streets of Providence. Many necessary and long overdue road and utility repair projects are underway on major commercial corridors in our capital city.

In early May, we launched the Providence Road Improvement Project, kicking off the most comprehensive road improvement

ULTIMATELY, THESE NECESSARY INFRASTRUCTURE PROJECTS OCCURRING ACROSS OUR CITY WILL ENSURE THAT COMMERCE CONTINUES TO THRIVE IN EVERY NEIGHBORHOOD IN PROVIDENCE project our city has seen in many years.

In the coming years, we will rebuild and repair approximately 65 miles of roads in Providence.

The road improvement project represents a big step forward for Providence. I know, just as our city residents and businesses know, that our roads are in bad shape.

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RISBJ | rhode | rhode island island small smallbusiness businessjournal journal

We could not afford to wait any longer to make this important investment in our city’s infrastructure.

This work will help us build a more livable city for our residents, easing the commute of nearly every city resident, while providing all of our residents and businesses with a modern infrastructure to help encourage Providence’s economic growth. The project is also creating hundreds of jobs.

Work is also being done by the Narragansett Bay Commission, Rhode Island Department of Transportation, Providence Water Supply Board, and Rhode Island Public Transit Authority. We will have a stronger and safer city when all of this work is completed – with smooth roads, accessible sidewalks, attractive bus shelters, more responsive bus routes, improved water quality and increased pedestrian and bicycle safety.

For small businesses located on commercial corridors where construction is occurring, we know that customer traffic can be impacted.

The City of Providence is working closely with the Narragansett Bay Commission, Rhode Island Department of Transportation, Providence Water Supply Board, and Rhode Island Public Transit Authority to minimize the impacts of construction on small businesses.

Small businesses are the beating heart of our city’s economy. Ultimately, these necessary infrastructure projects occurring across our city will ensure that commerce continues to thrive in every neighborhood in Providence.

[continued from page 27]

Only Dead Fish Swim with the Current

Tuesday, October 15 Shoestring Branding: Making the Most of Limited Resources Centerville Seminar Center 9:30am-12:00pm 875 Centerville Road, Building 2, Suite 5 Warwick, RI Wednesday, October 16 How Human Networks Run Your Company Centerville Seminar Center 8:30am-10:00am 875 Centerville Road, Building 2, Suite 5 Warwick, RI Wednesday, October 16 Newport Chamber of Commerce

by David Piacitelli

As an avid fisherman, I always associate my free time passion with my career. When you think about it (especially if you know a little something about sales and/or fishing), the two are pretty similar and require most of the same skills. For instance, you always need to know what you’re going after so you are equipped with the right bait or lure, you need to know the environmental conditions so you can plan your timing, and you need to put all of the factors together so you know your odds of success.

So now that we know that I have managed to imagine my job as my favorite pastime, let’s focus on the job of selling and how to improve your odds through a little planning and preparation. First of all, whether it is true or not, sales must be a crisis. When you break down the tasks associated with selling, they are pretty basic and don’t warrant much thought, but the emotional fortitude required to carry those tasks out every day is darn close to heroic. I find that the crisis approach keeps you focused and in execution mode without the usual negative attention to market conditions. There is always a reason to avoid making a call, a reason why a prospect isn’t a really good fit, or a reason to push off the outreach until next week. Prioritizing your efforts based on crisis can help override those excuses.

With fishing, it is generally known that you need to go after the big fish on your own.

With selling, for some reason, we feel that if we throw some bait in the water (marketing, SEO, advertising), the deals will come to us.

In a standard business-to-business sales model (business-to-consumer models are different), passive activities, like marketing, will get the target closer to you, but you’ve got to get them into your sales process in

order to post one in the win column. The truth is, the days of business coming to you are over. No matter how unique our business model is, we are all selling commodities.

Once you have established the crisis mode for your execution, you need to know what type of goals you have and the time you need to complete those goals. There is no way around volume. If you need deals, you need deal flow. In order to get deal flow, you need to be talking to decision makers at the places where the deal potential is best. I know this isn’t rocket science, but the emphasis here is on the talking part, not the planning part. How many targets should you start with? More than you could call on in a year’s time if that is all you did. Then start reaching out and don’t stop until you have enough potential deals to make your sales pipeline 3 times the number that you need to meet your sales goals. I can guarantee that you should have started 6 months ago.

If you were a fish, standing still in the current would be reserved for a tactical position that would allow you to pounce on your prey quickly as it swam by you. Aside from that, you would be strategically moving against the current to get to your destination without getting eaten. The only time you would be going with the current would be, well, when, you know….

Health and Wellness Series Stress – Can’t Live With It; Can’t Live Without It 8:30am-10:00am 35 Valley Rd., Middletown, RI Thursday, October 17 Newport Chamber of Commerce Business During Hours Brown Bag Networking Lunch 12:00pm-1:30pm Sponsored by Chili’s 35 Valley Rd., Middletown, RI Friday, October 18 Newport Chamber of Commerce Chamber Connections 7:45am-9:15am 35 Valley Rd., Middletown, RI Tuesday, October 22 Medi Weight Loss Clinic East Greenwich Chamber of Commerce Business After Hours 5:30-7:30pm 80 Lambert Lind Hwy, Warwick, RI 02886 Wednesday, October 23 Time to work on your business Centerville Seminar Center 6:30pm-8:30pm 875 Centerville Road, Building 2, Suite 5 Warwick, RI

with fishing, it is generally known that you need to go after the big fish on your own

Thursday, October 24 Kirkbrae Country Club Northern RI Chamber of Commerce Eggs and Issues Breakfast with the Health Insurance Small Employer Task Force 8:00am-9:15am 197 Old River Road, Lincoln, RI

David Piacitelli President Top Line Systems, LLC

www.risbj.com www.risbj.com | volume | volume twotwo issue issue seven six

29

SMALL BUSINESS | Understanding Managed IT Services nomy

Understanding Managed IT Services and How They Can Eliminate Technology Pains for Small and Mid-Size Businesses

by Frank Motta

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Information Technology (IT) has become a significant consideration for small and mid-size companies, with business owners under constant pressure to conduct business more efficiently and improve the productivity of their employees, while simultaneously reducing cost.

Unfortunately, computers often are struck with problems such as spam, viruses, and security threats, and server and e-mail access malfunctions cause employees to sit idle. Company systems often do not operate at their optimal level to fully satisfy the business needs, and a huge amount of downtime is experienced waiting for a technician to solve each problem.

Having a dedicated IT department is not a viable option for most small businesses, and very few small companies can afford to deploy even one permanent IT employee. Fortunately, there is an emerging and quickly growing solution known as “Managed IT Ser¬vices” to help.

These days, a growing number of IT vendors, resellers, and telecom carriers are providing managed services based on remote, proactive monitoring of company networks on an ongoing basis – with minimal involvement of the small business owners. Managed Service Providers (MSPs) employ consultants who specialize in small business networks, computer support and security and offer a range of services, including Computer & Server Support, Data Backup & Disaster Recovery, Remote Network Monitoring and Network Security.

With over 25 years of experience, CTI has successfully become the one technology resource for hundreds of businesses. We are a one-stop one-resource technology provider. This makes your life easier to manage your IT budget and support costs.

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Managed IT services are provided by an outside firm or IT consulting company for a fixed monthly fee. Unlike the traditional ‘break/fix’ model, where IT consultants are not motivated to keep the client’s systems running efficiently because the consultant makes more money when the technology breaks down, a managed IT Services provider is fully focused on keeping your systems up and running because repeated technology failures mean higher costs to them.

Therefore, the managed services model is beneficial to both the small business owner and the technology expert because small businesses have the advantage of lower rates and better services, while technology experts get the fixed monthly fee from multiple customers.

Small and mid-size business owners should consider managed IT services to leverage the latest remote network monitoring and maintenance services, resolve technology problems before they can disrupt the business and help them stay focused on what really matters.

Frank Motta Executive Vice President CAI Managed IT

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Capital for all the right reasons THE BUSINESS DEVELOPMENT COMPANY www.bdcri.com

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SMALL BUSINESS | What Is The Difference Between A Legal Name, Trade Name, And A Trademark? [continued from page 29]

What Is The

Difference Between a Legal Name, Trade Name, and a Trademark?

Thursday, October 24 Genie’s Hookah Lounge Newport Chamber of Commerce Business After Hours 5:00pm-7:00pm 94 William St., Newport, RI Thursday, October 24 Lake of Isles Golf Course Westerly Chamber of Commerce Athena Awards Banquet 2013 6:00pm-9:00pm Tickets are $50 Friday, October 25 Get the Best Results and Highest Return by

by Attorney Daniel Holmander

First, there is an important distinction between a legal name, trade name, and a trademark or service mark. A legal name is the name of a person or entity that owns a business. A legal name must be registered with a state government and includes a legal ending, such as an LLC or LLP, after the title. This is used in communicating with the government.

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A legal presumption of your ownership of the trademark and your exclusive right to use the mark nationwide on or in connection with the goods/services listed in the registration

Managing Your Time

The ability to bring an action concerning the trademark in federal court

Friday, October 25

Centerville Seminar Center 9:00am-10:30am 875 Centerville Road, Building 2, Suite 5 Warwick, RI

Newport Chamber of Commerce Seminar: The Business of Property Taxes in RI

•

The use of the U.S. registration as a basis to obtain registration in foreign countries

8:30am-10:00am Sunday, October 27 Granite Theatre

A trade name is generally considered the name a business uses for advertising and sales purposes. A trade name is sometimes referred to as a “fictitious” or “doing business as (DBA)” title. For example, “McDonald’s” may be the trade name, but the legal name is “McDonald’s Corporation.”

•

•

• A trademark is a brand name. A trademark or service mark includes any word, name, symbol, device, or any combination, used or intended to be used to identify and distinguish the goods/services of one seller or provider from those of others, and to indicate the source of the goods/services.

For example, the Golden Arches are a trademark of McDonald’s or the McDonald’s Corporation.

An important reason to distinguish between trade names and trademarks is that if a business starts to use its trade name to identify products and services, it could be perceived that the trade name is now functioning as a trademark, which could potentially infringe on existing trademarks.

It is not mandatory to register a trademark; however, federal registration has many advantages: •

Public notice of your claim of ownership of the trademark

The ability to record the U.S. registration with the U.S. Customs and Border Protection (CBP) Service to prevent importation of infringing foreign goods The right to use the federal registration symbol ® Listing in the United States Patent and Trademark Office’s online databases to deter potential infringers

In addition, the trademark may be used in a variety of ways in the online environment to the benefit of the trademark owner. A trademark protects your company brand or product names from being used by another company in a similar line of business.

In the online world, your trademark can appear as your Twitter handle, your Facebook URL, as well as product-specific Facebook pages. Also, if you prove that a third party registered a domain name in “bad faith” in relation to your trademark, the federal registration provides a presumption of your entitlement to take the third party’s domain name. Therefore, the registered trademark may facilitate ensuring that you are the exclusive user of your brand name on websites, URLs, and advertisements.

Westerly Chamber of Commerce The Pink Show 12:30pm-4:00pm $30 per person Tuesday, October 29 Northern Rhode Island Chamber of Commerce Design and Align Leave Policies 8:30am– 4:30pm 6 Blackstone Valley Place, Suite 402 Tuesday, October 29 1149 Restaurant East Greenwich Chamber of Commerce Lunch and Learn with Dan Marantz, The Growth Coach 12:00pm-1:30pm 1149 Division Road, Warwick, RI 02818 Wednesday, October 30 Northern Rhode Island Chamber of Commerce Communication Skills & Conflict Management 8:30am–4:30pm 6 Blackstone Valley Place, Suite 402

Attorney Daniel Holmander Partner Barlow, Josephs & Holmes Ltd.

www.risbj.com www.risbj.com | volume | volume twotwo issue issue seven six

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Healthcare Competitors Joinin Founded in 1996, Capitol Home Care Network, Inc. has made the health and wellness of the adult community in Rhode Island its priority for almost two decades. What makes Capitol Home Care different from the multitudes of other healthcare service providers in our state?

The company is composed of five direct competitors who have joined forces to build off of each other’s strengths and put the patients’ needs before their profits.

years of experience, these industry leaders noticed that there was a huge underserved patient population that fell through the cracks, receiving minimal support or finding themselves without support after an unanticipated event. Even though they were, and still are, direct competitors providing similar services, the entrepreneurs realized that bringing together their services under one company would only allow for a higher level of care.

services provided by this network include traditional Skilled Nursing, Certified Nursing Assistants in the home setting, progressive rehabilitative services, specialty wound management, Therapies (Occupation, Physical, Speech, etc.), Medical Social Work, emergency response and more. This mix of services allows Capitol to focus on giving a higher level of direct care to Rhode Island adult patients 18 years or older who are in need.

Capitol Home Care came together under the leadership of three visionary entrepreneurs: Mary Benway, Bob Haigh, and Nick Passarelli. Mary Benway is an equal partner of Capitol Home Care, President of Rhode Island Partnership for Home Care, Owner and President of Community Care Nurses, and a Registered Nurse. Bob Haigh is an equal partner of Capitol Home Care and also President of Health Care Services, Providence. Finally, Nick Passarelli is also an equal partner of Capitol Home Care, as well as a Registered Nurse, a Licensed Nursing Home Administrator in Rhode Island, a Certified Chronic Care Manager, and the owner of Phenix Home Care and Coventry Home Care.

Another reason the three entrepreneurs created Capitol was to inform the public about their healthcare options. “Our company wants patients to know that they have a voice in what provider they choose. By law, patients have the right to choose what agency provides skilled and non-skilled services for them. We want to educate patients about what resources are in the community should an unexpected hospitalization occur,” said Mary Barry, Executive Director at Capitol Home Care.

Capitol Home Care also prevents gaps in service by allowing for smooth incorporation of all services under one overarching company. For example, a patient needs a CNA and a Physical Therapist and uses two different providers for these services. Often times, these two healthcare providers face challenges in effectively communicating with one another, lending itself to potential for misunderstandings with regard to patient goals and outcomes. “Blending our services creates seamless integration, and the patient’s experience is smooth, structured and goals are clear. The care we provide addresses all of their needs, both short-term and long-term, and reduces rehospitalization,” said Barry.

All three entrepreneurs decided to come together after recognizing the need for stronger community support in the Rhode Island healthcare arena. Over their many

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RISBJ | rhode island small business journal

The first of its kind in Rhode Island, Capitol Home Care is proud to maintain a business that brings each individual’s unique skill sets to the forefront to improve Capitol’s patient care services. Capitol’s network consists of a Medicare Certified Home Health Agency, 4 licensed Home Care providers, a provider of Private Duty Nursing and an intermediary for Emergency Response Systems. The

Even if patients have a healthcare provider they prefer, Capitol can work with their provider to help improve their health. For example, a patient has come to trust their

ng Forces to Put Patients First CNA and they do not want to work with a new CNA. Capitol can provide a Visiting Nurse, Physical Therapist, and whatever other service the patient needs while working with the CNA of the patient’s choice.

Over the years, Capitol has developed strong relationships with hospitals, sub-acutes (skilled nursing facilities with rehabilitation units), physician practices, community resources and many other healthcare facilities. Because of these relationships, there is a level of respect and trust between Capitol employees and other care providers that allows them to collaborate so easily. No matter what kind of diagnosis, Capitol’s programs can help patients safely recover from unanticipated illness or injury, can partner with patients and family to assist the aging Rhode Islander to remain safe and independent in their own homes, and its structure helps reduce the costs of healthcare today by avoiding rehospitalizations.

The owners of Capitol want their services to be flexible so that they can do everything in their power to prevent rehospitalization.

Their company has the ability to look beyond the immediate issue and into the patient’s future to create a comprehensive plan for the long term. Capitol also reviews the patient’s insurance, such as, Medicare, Medicaid, Medicare Advantage Plans and private

insurances and monitors their situations to make sure that when their treatments are no longer needed or funded, they can still take care of themselves. They have developed a superior process to take care of chronic patients at home who need care, but cannot afford it or cannot manage it themselves.

Since their inception, Capitol has quickly grown as their positive reputation has spread.

In the past 8 years, Capitol has grown as much as 182%, always keeping in mind what is best for patients. They maintain a dynamic group of staff who all hold the same

Their company has the ability to look beyond the immediate issue and into the patient’s future to create a comprehensive plan for the long term. philosophy Capitol does as an organization: patient care is always foremost. “The most important part of the equation is the patient. We have a responsibility to the community we serve. Our priority will always be the patient. With outcomes driving the components of care, our programs allow for goal achievement, positive outcomes and good patient successes,” said Barry.

Capitol Home Care is happy to serve the Rhode Island population, recognizing that there are many people in the state that could benefit from the programs they offer. “Our ability to provide care across insurance lines is an incredible asset that allows us the service capacity to meet patient’s needs.

We service the entire state of Rhode Island, which makes us incredibly unique. Our patients never need to be concerned about getting care in the home; they can focus on getting well and staying in their own homes.

Capitol works with you, your Doctor and caregivers to obtain care and maximize your wellness,” said Barry.

By combining their competing businesses and exceptional skill sets under one company, three entrepreneurs developed a new model of medical care that is incredibly unique and addresses even the most complex of patient’s needs. According to Barry, healthcare professionals caring for patients today, do so because of their commitment to the people of Rhode Island.

Capitol Home Care follows the same philosophy and is truly committed to the healthcare community of Rhode Island.

They look forward to continuing to make healthcare easier and more accessible for adult patients across Rhode Island.

www.risbj.com | volume two issue seven

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SMALL BUSINESS | Loyalty Oftern Starts With The Why

Loyalty Often Starts with the WHY

How do you go about acquiring the right customers? Naturally, it starts with your marketing and communications. There are three points to consider: 1) market (who are you talking to?) 2) motivation (what do you want them to do?) and 3) message (what is it you stand for or represent to the prospect why are you in business?).

1) YOUR MARKET: You cannot catch freshwater fish if you are fishing in the ocean.

Whatever marketing message you put out there, the people who are most likely to do business with you are the people who need to see your message. If you sell dog food and I don’t have a dog, you have wasted marketing dollars speaking to me. Find your best target market and the best vehicle to reach them.

by Bob Salvas

The key to long-term business success is to have loyal customers.

“How can I get more of my customers to be loyal?” “How can I get more loyal customers?”

the key to long-term success is to have loyal customers 34

RISBJ | rhode island small business journal

There is actually a big difference between those two similar-sounding questions.

The first question assumes you have existing customers that you want to nurture towards the goal of becoming more loyal.

The second question is more about finding new customers who will be loyal. There are solutions that will help you with the first question (we’ll save that for future articles!), but the whole process is a LOT EASIER if you just consider the second question FIRST. In other words, a big key to successfully having loyal customers is acquiring the RIGHT CUSTOMERS in the first place!

2) YOUR MOTIVATION: Assuming you have hit the best target market for what you sell, what will your offer be? What action do you want the prospect to take? If the idea is to get them to buy right away, please don’t say you’ll offer a deep discount in price.

Businesses somehow feel that if they give away their entire margin so people can try them, they will have a bevy of new ‘loyal’ customers. Not likely. In fact, they may get just the opposite. The only customers who come in may be those ‘serial discount shoppers’ and if the competitors down the street have a better discount, they will drop you like a hot potato. To make matters worse, some businesses only offer that deep discount to the ‘brand new customers’ while charging full price to their regular loyal clients! This is one of the worst strategies ever if you want more loyalty.

There are some pricing strategies that are much better than the deep discount and you can offer them to prospects as well as current clients. If your product is low cost, you can give away a free sample (think of the sample chicken teriyaki at the food court). You can try bundling more than one product together with complementary products at a package price (think of the value meal at the fast food restaurants).

Loyalty Oftern Starts With The Why | SMALL BUSINESS

You can offer a rebate or gift or future offer (think of the rewards programs at many retail businesses). Or you can offer a 100% guaranteed REFUND if the customer is not completely satisfied (especially effective if the product is expensive). Any or all of these options are better than the deep discounts that businesses seem to be desperately trying today.

But do you really need a pricing strategy to

should never be a WHY. You have to have another reason to be in business, a deeper meaning for you. If that answer is not clear to you, you may need to read the book START WITH WHY by Simon Sinek. The author gives multiple examples of super successful businesses and organizations and they all have a defined WHY about them. An often used example in the book is the company Apple. Apple’s WHY is to challenge the status quo. That WHY resonates in

people don’t buy what you do, they buy why you do it -simon sinek attract new business? What if you used your pricing strategy as a retention tool rather than an acquisition tool? What if instead of pricing, you attracted new customers based on your message and the word-of-mouth it generated? There is a secret to doing this and it all begins with the question WHY? 3) YOUR MESSAGE: By message, I don’t necessarily mean some hypnotically written copy put together by a professional writer (though good writing does have a place in this). Rather, what I mean is what stands behind that message. In other words, WHY are you in business? And I am not looking for the ‘to make money’ answer. Money is the result you get when you have a successful business. Money is often a goal, but it

Libations Restaurant

everything they do, from the products they design to the advertising and marketing messages they develop. Every time Apple comes up with a new product, people wait in line for hours to get it and the price is almost always higher than any other comparable product in the market. It is true that not everyone waits in line for the new products, but that is also the point. If you find those who are strongly aligned with your WHY and you deliver what they want, they not only become your best, most loyal customers, but they also become your most active advocates, spreading the word to those who may be a bit indifferent about what you are selling. These advocates expand your marketing with the very best marketing device that exists today: word-of-mouth.

Lounge

S M A L L P L AT E S • B I G F L AVO R • G R E AT VA L U E

You see, we live in a world of too many choices and ‘good enough’ quality. Since we have so many options that are (for the most part) equally good, we end up buying many things on price alone…we see these things as a commodity. But there are some products and companies that we remain loyal to regardless of price. What Simon Sinek points out in his book is that we are more drawn to what those companies/ products stand for rather than anything else.

We believe what they believe. We are buying not so much for the company, but we are buying for ourselves…to reinforce our own beliefs. This is why Apple fans wait in line; Harley Davidson fans tattoo the logo on their bodies; Disney fans pay a higher price to go to Disney World than a regular amusement park. And when enough of these fans spread word-of-mouth, the masses start to buy as well.

Your business may not be the size of Apple or Disney, but the same theory applies.

Find the WHY of your business and make business and marketing decisions with that in mind. Find and speak to those who ‘get it,’ who believe what you believe, and build solid relationships with them. Those are your most loyal customers, and they can help bring in even more loyal customers.

Remember, the key to long-term business success is to have loyal customers. It can all start with the WHY.

Bob Salvas Marketing Consultant Minuteman Press RI

Our clients know we’re here for them year-round, not just at year-end.

JAMES J. PRESCOTT PETER L. CHATELLIER DAVID A. FONTAINE JAMES D. WILKINSON DEBRA A. MITCHELL

AT BRAVER, IT’S THE WAY WE DO BUSINESS.

ROBERT J. CIVETTI

155 South Main Street Providence, RI 02903 401 421 2710 www.thebravergroup.com

Libations Restaurant & Lounge at the RADISSON HOTEL PROVIDENCE AIRPORT

2081 Post Road • Warwick, RI 02886 401.598.2121 • www.radisson.com/warwickri

NEWTON

BOSTON

TA U N T O N

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C O NC O R D

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The “Freeze” May Be Over for Real Estate in Rhode Island “We’ve taken a hard hit in RI,” said Jeffrey Butler, owner of Butler Realty, and incoming president of the RI Commercial and Appraisal Board of REALTORS (RICABOR). RICABOR is the professional membership organization for those practicing commercial real estate and real estate evaluation in Rhode Island. Their membership also has an Affiliate category for companies doing business with real estate professionals.

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“We have been in a deep freeze economically for a few years, and with recent devastating storms, ineffective policies, high unemployment, and negative press – it doesn’t help. But, Rhode Islanders as a whole are resilient, especially commercial brokers, and we can see the ice melting as we are warming up the market,” Butler added. RICABOR leadership express an optimistic view going into the near future about commercial and investment property in RI, and they see good signs that “the freeze” is over as activity among appraisers and commercial brokers is increasing and new business is developing.

Some exciting developments include the launch of RICIE, the RI Commercial Information Exchange (www.RhodeIslandCIE. com), which is in cooperation with the RI Association of REALTORS and the Statewide MLS. “RICIE is a very robust platform,” Butler explained, “giving commercial brokers the tools they need to help their business

commercial real estate in Rhode Island and the group has a dedicated grass-roots advocacy approach.

When asked to address challenges for the future, Butler talked about broad consumer confidence in general and how businesses, similar to individuals, tend to keep their hands in their pockets (and on their wallets) when economic times are bad or uncertain.

“I hear every day that people are feeling better about the economy and putting money into commercial and investment real estate.

Commercial lenders are very interested in getting involved in good deals, and many times they are competing for certain project financing. This is all good for the consumer and our economy,” Butler said.

Butler predicts slow and steady growth in value – perhaps “not as sexy as it was at in the early 2000’s, but many business people prefer real estate to other intangible investments. I see much more cooperation

I hear everyday that people are feeling better about the economy and putting money into commercial & investment real estate and investment clients, while giving the consumer an easy-to-use interface that we are tying into RI Living, the most visited real estate website in RI.” RICIE provides commercial brokers and appraisers with a central database of current and historical property information, which has never before been available in RI. In addition, the Chambers of Commerce and the state and local Economic Development Departments will be offered the opportunity to participate in the RICIE database. Butler said, “We are strongly encouraging all commercial brokers, big and small, to participate. We all need each other and the great State of RI needs us to work together to move RI into a better economic position.”

In the past year, RICABOR supported several legislative initiatives such as the Historic Tax Credit, Commercial Broker Lien Rights, and protecting mortgage interest deductions, all to success in a challenging legislative year. The leadership of the board remains vigilant about the issues that impact

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between the commercial brokers, lenders, business community, and the public sector, like EDC,” said Butler. He goes on to remark about the new leadership at the state EDC, specifically lauding leader Marcel Valois and his staff for fostering better communications within the state and working on the state’s image outside of our borders.

RICABOR’s goals moving forward include focusing on more cooperation and communication within the appraiser and commercial brokerage community, and also with lenders and EDC. The Board has recently launched a new logo to promote brand recognition. Again, RICABOR mentions the new tools that will help in doing this – particularly the RICIE network.

Asked for a final comment about commercial real estate and its role in helping to lead RI to better economic and business times, Butler said, “We all need to have a helping hand in improving our economy and our self-image as a state, which will reflect our image outside the state. Rhode Island really

is the ‘Little Engine That Could.’ We have so much to offer and it is a great place to live.

As a business association, our members recognize the need to support this effort and get involved. This includes ensuring that our elected officials share our vision and possess the fortitude to truly do what is best for Rhode Island.”

Nancy Thomas Owner Tapestry Communications

interesting stats: – Net absorption of apartments more than 3 times pre-recession averages – Industrial is up approx. 20%, while office and retail still lag pre-recession averages – Industrial rentals forecasted to rise 25% during the next 4 years in the US – Both housing and CRE are up to where they were in 2004.

The mission of the Rhode Island Commercial and Appraisal Board of REALTORS is to be the professional source for Advocacy, Education and Networking.

– 1st Q of 2013 – Commercial Loans: Multi-Family (up 30%), Office (down 6%), Retail (down 25%), Industrial (up 2%), Hotel (up 35%)

The RI Commercial Information Exchange website (www.RhodeIslandCIE.com), is giving commercial brokers the tools they need to help their business and investment clients, while giving the consumer an easy-to-use interface that we are tying into RI Living, the most visited real estate website in RI.

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® P RO P E RT Y F O R L E A S E

Several Prime Office Locations:

Providence, Warwick, Johnston, North Kingstown, South Kingstown, and Exeter. Call for details and address Several to choose from, Some For Sale or lease. Financing available.

Call for details.

747 Pontiac Avenue, Cranston:

Individual office space from 200 sq. ft. to 2,000 sq.ft.

Busy Pontiac Avenue location near Rolfe Square- walk to everything! Good for start up or incubator space, you can add space as you grow!

RILiving.com MLS #1031022

20 Centerville Road, Warwick:

Former school; solid brick construction. Very nice 2nd floor space; owner on 1st floor. Space plan attached. Great Apponaug location! Quick highway access and walk to Apponaug Village amenities!

RILiving.com MLS #988739

1755 Smith Street, North Providence:

Former Dunkin Donuts for over 30 years (they bought & moved across the street). Seats 30+. Has a drive-thru. Parking for 20+. GREAT for ANY fast food concept.

2000 sq. ft. $3,200/mo.

RILiving.com MLS #1028322

355 Compass Circle, North Kingstown:

Great unit (#9).1200’ warehouse/workshop. Has 300sf office w/ air conditioning and window.14’ door,18’ ceilings. Sewers, gas, 100 amp 3 phase power. Seconds off Rt. 403 in Quonset/ West Davisville only $8 psf.

2006 Nooseneck Hill Road, Coventry:

577 Tiogue Avenue, Coventry:

1220 sq ft adjacent spaces (2240 sq ft total) on the second floor.

Located in a very nice building! Big picture windows in the units with waterviews! Elevator available and nice common area. Join the newest Dragon Palace Restaurant. MLS# 1032254

146 Granite Street, Westerly:

Class A Coventry Credit Union Corporate Office (CCU occupies entire 2nd floor). 1st floor space available from 1880-8200sq ft.

Very nice common area’s include cafeteria. Plentiful parking.

On Rt3, 1 mile from Rt95 & Exit 6. Office, medical, studio... $12 psf. RILiving.com MLS #1036614

4300 sq ft very strong retail area, next to Advance Auto, former Pet Place, great for food or retail.

Below market rent $15. psf

30 Phenix Avenue, Cranston:

74 Nooseneck Hill Road, West Greenwich:

17 Sandy Bottom Road, Coventry: FOR LEASE OR SALE

Point View Marina, South Kingstown:

Great office or salon/studio space in Knightsville. Handsome building with historical charm in excellent shape. Close to amenities and highway. 2 story salon=900sf. One level office=640sf. Two full baths with shower. Basement storage. RILiving.com MLS #1039958

Great location and set up for night club, restaurant or other food/entertainment venue. Very close to turnkey as night club. 326 capacity. Lease $4,500 nnn per month, lease/option or buy for $595,000. RILiving.com MLS #1022520

Great Route 3 location just ½ mile from Rt 95 exit 6, nicely appointed office or retail suite with several offices and open area,was HQ for Bess Eaton & Tim Hortons.

Fresh paint and carpets. 600-1600’, from $10 psf/yr.

RILiving.com MLS #990071

Multi use shop. Top end boating and fishing clientele.

Serves the Snug Harbor and East Coast recreational and commercial marine industry. About 1,200sf on the first floor overlooking docks and harbor. $12psf.

RILiving.com MLS #1039952

Many more Commercial Properties @ www.ButlerRealty.us ....

Commercial • Investment • Residential

or email Jeff Butler at jab@ButlerRealty.us Trusted Real Estate Service Since 1977 Looking to Buy or Lease? Call the Butler!

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P RO P E RT Y F O R S A L E

400 South County Trail, Exeter:

Great location!! Design Award of Excellence. Private baths.

Centrally located 6 minutes South of Home Depot in North Kingstown. Easy access at the gateway to South County. Taxes are approximate. Assessment as unfinished. 900-4,000 sq.ft. available. From $105,000 RILiving.com MLS #1047850

111 Airport Road, Warwick:

Very nice 2nd floor office space near Hoxsie 4 corners. Tastefully decorated, good paint & carpet, possible office furnishings (nice stuff!) Three offices, conference, reception, lav., plus large basement storage. $180/month condo fee. $79,900 RILiving.com MLS # 1012762

747 Pontiac Avenue, Cranston:

Great location near Rolfe Square. Three floors of office suites from 200 sq ft and up. Good income generator or large owner occupied office. Owner keeping several suites clear anticipating a larger user to buy/occupy and have income. $800’s

RILiving.com MLS#1020960

2614 West Shore Road, Warwick:

132 Meadow Street, Warwick:

Busy Rt 117/Wildes Corner location opposite new Burger King & TD Bank,adjacent to Bennys.New roof,siding,windows,panel box,wiring,fire alarm&heat sensors. Ready for your finish. 1st Fl 2400’,2nd Fl 1200’,basement storage/walkout. Planned for Pub/ Cafe. Lease or Sale - $400’s RILiving.com MLS #1032619

Great location off Rt.117, 1 mile East of Exit 10. Office/ Mfg Wrhse combo. Great value for user. Nice, clean, bright space! This bldg has been substantially updated & is turn key ready to go. Owner can also modify to suit! Lease option available. $500’s RILiving.com MLS #1013527

65 Montebello Road, Warwick:

39 Nooseneck Hill Road, West Greenwich:

Great block building with two overhead doors, heavy power, and 2nd floor office. Great access to highway, train, and airport. $175,000

222 Jefferson Boulevard, Warwick:

Class “a” law office includes conference room, 4 private offices, lavette, reception, storage, kitchen.

Reduced to High $100’s RILiving.com MLS #981620

Large multi-use building offers great flexibility, possible multiple tenants. The church would consider a lease-back of 10,00015,000sq ft. Additional 14 acres adjacent also available. Great Rt.3 location just a mile north of Rt.95, Exit 6. Huge Reduction! $1,200,000 Motivated Seller! RILiving.com MLS #1029643

400 South County Trail, Exeter:

Approved Development Zoned Business 17+acres.Current permitted plans for 7 office building for total of 86,000net sf.MANY POTENTIAL USES. Central Rt.2 location minutes from Home Depot/Walmart in N.Kingstown. Easy highway access-strong traffic count! Reduced $800’s RILiving.com MLS #1029590

ION UCT D E ER HUG

111 Hopkins Hill Road, West Greenwich: ½ acre – 16 acres Very fast growing area off Exit 6A near GTech, Amgen & Centrex. Front pad is busy Dunkin Donuts, balance of site permits office, retail, warehouse & light industrial. Traffic count 15,000 and growing! Multitude of possibilities- 6 other avail. lots. From $150,000 RILiving.com MLS #855989

337 Oakland Beach Avenue, Warwick:

Lot with multiple buildings. Dual access to Oakland Beach Avenue and Gordon Avenue. 3.5 miles to the State Airport.

Six buildings with 12,000 gsf. Overhead doors with high ceilings in some buildings. Utilities available: sewer, water & gas in street. $295,000

7265 Post Road, North Kingstown:

7.82 acres on US Rt.1. Zoning permits apartments/office/medical/retail. Many possibilities!! Will build to suit, sale or lease, or land only. Great location. Dozens of acres and walking trails behind property. Adjacent 5+- acres also available.

Call For Details! RILiving.com MLS #856381

Many more Commercial Properties @ www.ButlerRealty.us .... or email Jeff Butler at jab@ButlerRealty.us Commercial • Investment • Residential

Trusted Real Estate Service Since 1977 Looking to Buy or Lease? Call the Butler!

www.risbj.com | volume two issue seven

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® Enhance Your Business relationships with An Affiliate Membership with Rhode Island’s Commercial Real Estate and Valuation Professionals.

Networking Opportunities Affiliate members benefit from the opportunity to forge relationships with some of the top industry professionals!

Affiliate Directory Maximize your Visibility!

Your name, company name, and contact information are compiled on our website as a resource for members and the public.

Networking Opportunities The Rhode Island Commercial and Appraisal Board of REALTORS® hosts a range of education and informational services for our members! Join us as an industry expert!

Contact the Rhode Island Commercial and Appraisal Board of REALTORS® at (401) 274-8386 or visit us at www.ricabor.org.

News from the Rhode Island Commercial and Appraisal Board of REALTORS® The Rhode Island Commercial Information Exchange (RICIE) is on a roll. RICIE, the online database of information, research and marketing tools for commercial real estate professionals, was launched at the end of June by State-Wide MLS in answer to the needs of Rhode Island’s commercial agents. Since then, membership to the service has been growing. Now 76 Rhode Island real estate offices are participating, listing roughly 300 commercial properties.

The service was developed specifically to give agents, as well as appraisers, assessors, lenders and state governments, an economical alternative to other competitive commercial search engines. For as little as fifty dollars per month, users can not only list properties, but also have access to more than 4200 sold records and nearly 500 leased records. RICIE also offers members the ability to market and search for commercial properties on a national level through the Catalyst Information Exchange network, as well as numerous partnering sites that they export listings to.

Likewise, businesses and commercial real estate specialists nationwide can easily access Rhode Island listings. Catalyst, which hosts the RICIE system, is a leader in commercial information exchange nationwide.

This fall, RICIE will begin hosting quarterly networking events to give professionals in commercial real estate the chance to network and share their listings with colleagues. “The people that deal in commercial real estate are a small community, particularly in Rhode Island, so we wanted to offer a value added benefit in addition to our online services. This will give our members an opportunity to talk with their colleagues face to face about their listings or clients’ needs. No other competitor offers that,” said Mike Letendre, RICIE Chief Information Officer.

RICIE’s marketing approach also has it reaching out to grow its membership beyond commercial real estate professionals. The Exchange has been working together with the RI Economic Development Corporation on a new initiative which will feature the RICIE property database. “We’ve met with EDC and we’re excited to join with the state in a collaborative effort to grow Rhode Island’s business base,” commented Letendre.

The RICIE website, www.rhodeislandcie.com, will be updated in late September, making improvements to functionality and flow.

And, development is underway for a commercial site geared to consumers, featuring the RICIE database, in the way that RILiving. com offers the public a place to search for real estate using the State-Wide MLS database. Both RICIE and RILiving, are subsidiaries of State-Wide MLS.

For more information visit us at www.ricabor.org 42

RISBJ | rhode island small business journal

Peter M. Scotti & Associates, Inc.

Inside Cover C May 10 - 16, 2013

Rhode Island

New England Real Estate Journal

Visit the paper online nerej.com

PeterBrokerage/Appraisal/Management M. Scotti & Associates, Inc. BArokerage /appraisal /ManageMent Full Service Real Estate Company A full Service Real Estate Company

RETAIL CENTER FOR SALE 440 STAFFORD RD., FALL RIVER, MA

63,000 SF GROCERY ANCHORED RETAIL SHOPPING CENTER. 95% OCCUPANCY WITH GREAT HISTORIC CASH FLOW. 6 ACRE LAND PARCEL WITH SUBSTANTIAL ON SITE PARKING. PRICE: $6,500,000 JIM MOORE EXT. 14

wATERFRONT DEVELOPMENT SITE PARASCANDOLA wHARF, NEwPORT, RI 57,900 SF LAND SITE, 74,000 SF WATER- 1,000 FEET ON NEWPORT HARBOR WATERFRONT BUS zONE ALLOWS HOTEL, REST, MARINA, MUL FAM, MIX LAST WHARF DEVELOPMENT OPPORTUNITY IN NEWPORT, RHODE ISLAND

AUTO DEALERSHIP FOR SALE 296 g. w. HIgHwAy, SMITHFIELD,RI

15,680 SF BUILDING WITH SHOWROOM, SERVICE, BODY SHOP, OFFICES 8.25 ACRE SITE WITH 300 CAR PAVED PARKING zONED PLANNED CORP. SELLER WILL CONSIDER OWNER FINANCING, PRICE: $1,975,000.00

INDUSTRIAL FOR SALE 20 HIgH ST., PLAINVILLE, MA 53,500 SF STEEL BUILDING ON 9.66 ACRES OF LAND 20-24 FOOT CEILING HEIGHTS, DOCK & OVERHEAD LOADING HEAVY POWER, OFFICES, PAVED PARKING 50 CARS. PRICE: $2,495,000.00

COMMERCIAL bUILDINg FOR SALE 819 wESTMINTER ST., PROVIDENCE, RI

17,100 SF TWO STORY BRICK BUILDING IN HOYLE SQUARE, ON SITE PARKING FOR 33 CARS, EXCELLENT ACCESS AND VISIBILITY, GREAT REDEVELOPMENT OPPORTUNITY. PRICE: $565,000.00

COMMERCIAL/RETAIL SITE FOR SALE 250 CRANSTON ST., PROVIDENCE, RI

18,200 SF BUILDING AREAS, 38,778 SF LAND EXPANDABLE, HIGH TRAFFIC LIGHTED INTERSECTION, CURRENT USE AUTOMOTIVE, EXCELLENT URBAN RETAIL/COMMERCIAL SITE. PRICE: $1,099,000.00

MEDICAL OFFICE SUITES FOR LEASE 49 SEEKONK ST., EAST SIDE/PROVIDENCE

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Peter246 M.Hope Scotti & Associates, Inc.Island • 401-421-8888 Street, Providence, Rhode 02906 Visit our web page at www.scotticommercial.com 246 Hope Street, Providence, Rhode Island 02906 Visit our web page at www.scotticommercial.com Changes

NE NY Tel: 781-878-4540 REal EstatE JouRNal

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www.risbj.com | volume two issue seven

43

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It will change the way you do business!

If you sell or lease commercial property, you should know about RICIE. RICIE offers a robust database of commercial listings, recent sales/lease comparables and a vast array of tools for research and marketing commercial listings. And, with a wide selection of service models, there’s a plan to fit every need.

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401.785.9898

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www.risbj.com | volume two issue seven

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SMALL BUSINESS | Strategy Secrets Of Successful Companies, Part 1

Strategy Secrets Of Successful Companies, Part 1 WHY IS GOOD STRATEGY SO HARD TO GET?

by P. Lawrence Fagan

Welcome to the first of four installments in the “Strategy Secrets of Successful Companies” series, designed to support you in creating good business strategy for your small business.

Let’s get something clear right up front: creating good strategy is hard. And good strategy, once created, is even harder to maintain. In fact, the failure of business owners and managers to craft good strategy and to build and sustain competitive advantage is rampant in companies large and small around the world. In industry after industry, we see companies enacting bad strategy or having no conscious strategy at all. One harmful result: they compete in the same markets in the same ways for the same customers, leading to intractable fights—inevitably on price—that no firm can win. While much has been written about the commoditization of markets, few commentators seem to notice or state the obvious: that even given globalization and ongoing technological disruption, commoditization need not be inevitable. Too often, the commoditization of markets is due to firms’ own failure to craft good strategy.

That’s right: businesses bring ruinous competition upon themselves.

Today, despite decades of academic research and the rise of strategy consulting as a global industry, the daily practice of strategy by managers of the world’s organizations remains crippled by pervasive ignorance, apathy and poor communication.

For example, if you were to assemble your colleagues right now and ask them to say what their strategy is, chances are you would find they couldn’t. Most would no doubt say something vague about “growing profits by delighting customers” or “winning through innovation” or simply “being the best.”

Moreover, you would find their answers to be

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RISBJ | rhode island small business journal

inconsistent with each other. So not only are they unclear, but also misaligned.

Why is good strategy so hard to get? We observe three roadblocks to managers taking on strategy as a core discipline that directs the choices they make every day to build market positions for their enterprises that are unique and valuable.

First, faulty strategy education leaves managers unclear about what strategy is, what it is not, and how good strategy is created. Managers’ lack of clarity and consistency in articulating their own strategies—a phenomenon we observe to be universal in organizations—reveals their lack of understanding of strategy’s structure and logic and deprives them ultimately of its power.

Second, managers’ chronic lack of discipline in making trade-offs leads to persistent strategy implementation errors.

For example, no matter what, the strategy managers must make difficult choices about which customers to serve and which to ignore, which product or service features to include and which to leave out, which geographies to compete in and which to avoid, and which activities to do in-house and which to outsource. But what we find is that managers resist making trade-offs and end up losing focus by making choices that are strategically inconsistent. They may try to be all things to all people—the “best” for everyone —instead of being uniquely great for a select few.

Third, we observe that managers’ ability to maintain good strategy through time amid changing market conditions is undermined by a pervasive lack of strategy leadership.

Strategy leadership is the ability of managers to embrace the need for change and transformation to continually create unique and valuable market positioning for their enterprises.

Managers must stay related authentically to both their organization’s external market context (i.e., changes in technology, regulation, competition, and customer requirements), and its internal conversational context (i.e., prevailing views of what is possible for the organization held by its executives, managers and employees). The conversational context may sound abstract, but it’s not; it governs both what gets discussed in meetings and how things get discussed. And not just in meetings, but in hallways, at lunch, in boardrooms, and even in restrooms.

To a large extent, the future of the enterprise is encoded in those conversations, and leaders must learn to listen for it. But staying connected authentically to the world outside the enterprise, and internally with their colleagues, is a huge challenge for managers. For example, most strategic plans are extrapolations of the past: managers take last year’s target and increase it incrementally. Meanwhile, the world may have changed and a past-based “planning” approach could be not just wrongheaded, but dangerous for the health of the business.

Furthermore, we observe managers are biased to favor or exclude strategic choices based on their interpretations of what happened with choices they made in the past: their views of what worked, what failed, who was to blame for the outcome, who got fired (or didn’t) as a result, countermoves taken by competitors, the reactions of investors, etc. Rather than seeing their views for what they are—one of many possible interpretations—they live instead as if their interpretations are true, and they are unaware that they are so biased. This blind spot limits significantly the choices they perceive as available to them—what is in fact possible—in building market positions that are different from competitors’. And as blind spots go, it’s huge.

Part two of this series will address the need for basic strategy education and will present a universal definition and structure of strategy. The issue of chronic management indiscipline, and the challenge of providing breakthrough strategy leadership for the world’s organizations will be addressed in parts three and four, respectively.

P. Lawrence Fagan New Strategy Group

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47

FEATURED CHAMBER | East Greenwich Chamber of Commerce

F E AT U R E D

East Greenwich 580 Main Street East Greenwich, RI 02818 (401) 885-0020 eastgreenwichchamber.com

The East Greenwich Chamber of Commerce has enjoyed a busy and events-filled year right up until August, and our September and fall will be equally hectic.

The EG Chamber is blessed with a great mix of many small businesses, creative entrepreneurs, corporate sponsors, nonprofits, a dedicated Main Street Merchants committee, great restaurants, a health and wellness community, lively arts and much more. All of this makes our business community vibrant and everchanging. The Chamber’s strength lies in the diversity and contributions of its membership all in an effort to make the East Greenwich community a better place to live, work and do business.

The Chamber accomplishes its mission of making the community a better place with a variety of events and many different initiatives.

at noon time with guest speaker Dan Marantz, The Growth Coach Government Affairs and Lobbying Efforts: The EG Chamber is a part of the Rhode Island Chamber of Commerce Coalition, which is the voice of business for our membership. Accomplishments include: •

The Chamber Coalition was a voice in the approved 2014 state budget bill that included no tax or fee increases.

The assembly also discussed numerous economic development initiatives, including restoration of the historic structures tax credit program and $4.5 million for workforce development which includes the Rhode Island Back To Work Program.

•

The EG Chamber was involved in working with town officials, local business leaders and restaurant owners to open up a more lively summer dining scene along Main Street.

Education for our members and the community: •

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RISBJ | rhode island small business journal

Sponsorship of the Rhode Island Small Business Recovery Program

•

Workshops with the Center for Women and Enterprise at New England Tech

•

Co-Sponsorship of Health Source Rhode Island’s presentation on affordable, quality health insurance options

•

In the fall, we will start a lunch and learn program sponsored and hosted by Eleven Forty Nine Restaurant. Our first session will be on Tuesday, October 29

•

The EG Chamber is an enthusiastic supporter of the new campaign to promote Rhode Island. “It’s All in Our Backyard” is a by-product of an effort by the Rhode Island Foundation’s “Make it Happen Rhode Island” initiative.

Business After Hours: The EG Chamber’s Business After Hours have been very well-attended and

What’s New | CHAMBER CHAT

have provided some great networking opportunities for our members. We offer varied locations, with businesses such as Meritage and BLU on the Water recently hosting the Chamber.

Please check our schedule and website (eastgreenwichchamber.com) for future events.

Chamber-Sponsored Events and Promotions: We have no shortage of wonderful happenings in our community. In August, we had two great Main Street Strolls and the month ended with the annual Summer’s End Concert, which gave way to early September’s East Greenwich Art Festival held at New England Tech.

September features our Second Annual Restaurant Week (September 20-29). As of this time, we have 15 great EG eateries lined up to participate. We expect many more to be added before it begins on September 20. EG Restaurant Week actually kicks off with Savor EG on September 19 at the East Greenwich Yacht Club. For $25 you can sample from several of our great restaurants and proceeds benefit the East Greenwich Animal Protection League. Please visit the East Greenwich Chamber Website (eastgreenwichchamber.com) for East Greenwich Restaurant Week information and to view menus and specials.

Our Main Street Merchants, having just finished five (5) Summer Main Street Strolls, are busy planning for Small Business Saturday, and our Holiday Strolls. Look for many great additions as Main Street EG becomes more of a holiday shopping destination.

The East Greenwich Chamber of Commerce has an active golfing community and our members include Quidnessett CC, Potowomut CC, East Greenwich CC, Cranston CC, and Midville Golf Course. The EG Chamber has two golf tournaments, one in the spring and one in the fall (October 7 at Cranston Country Club).

Next spring, we will be having our Twenty Fifth Annual Chamber Golf Tournament and we look forward to that celebration.

In addition to providing networking opportunities and a day of fun for our members, our two tournaments raise money for charities which include Juvenile Arthritis, the East Greenwich Animal Protection League, the East Greenwich Little League, and the East Greenwich Education Foundation. We owe a debt of gratitude to all the sponsors, contributors, and volunteers that make these two tournaments so

successful.

All over Town and beyond: Although the Main Street area gets lots of attention because of its many events and the work of the Main Street Merchants Committee and the Main Street Association, there are many other great businesses, Chamber members and business locations all around East Greenwich. Many of our members are located near and around East Greenwich Square (Dave’s Market Place); Benny’s Plaza (Siena Restaurant); our waterfront (Finn’s Harborside and BLU on the Water), up and down Post Road, South County Trail, and on Division Street. Some of our members are not located in or even near East Greenwich, but they appreciate the vibrancy of our business community and the opportunity to do business.

To all our members and sponsors, we say thank you for your support and your enthusiastic involvement. For those inquiring about membership, please go to the EG Chamber website or contact us at 401-885-0020, or by emailing steve@ eastgreenwichchamber.com

Newest Members: Cabot House- Fine Furniture and Design 3G Broadcasting, Inc. (MIXX 99.3 FM and WADK 1540 AM) Bone Appetit New York Life- Michael Quinn Hi-Tek Capital Management Colin Cookson The Growth Coach- Daniel Marantz Rhode Island Real Estate Inspection Services, LLC Rhode Island Real Estate Services, LLC- Allen C. Potter Medicine Faculty Partners Creative Designs Dante’s Kitchen

CHAMBER CHAT Central Chamber

Lauren E.I. Slocum, President/CEO 3288 Post Road, Warwick, RI 401 732 1100 | www.centralrichamber.com “Your Business Resource…if you have a question, ask.” The Central Rhode Island Chamber of Commerce strives to help its members reach their goals. The dedicated staff, volunteer Board of Directors and Ambassadors are available by phone or email to assist members in maximizing their membership. Each month, there are a number of business opportunities where individuals can meet potential clients or further develop relationships with existing ones. The Central Rhode Island Chamber is always expanding what they have to offer their members based on what needs are being expressed. If you are looking for a working partner for your company that is friendly and accessible, give us a call. We welcome the opportunity to speak with you.

New Members Adlife Cornerstone Group Discover You Events Indigo Hair Studio & Day Spa Lotus Life - T-Shirts Designed to Inspire Neptune-Benson Inc. The Growth Coach The Mutual Fund Store ZipRecruiter, Inc.

Cranston Chamber

Stephen C. Boyle, President 150 Midway Road, #178, Cranston, RI 401 785 3780 | www.cranstonchamber.com On August 21st, the Cranston Chamber of Commerce held an informational seminar on the Affordable Health Act at Theater 82, Rolfe Square. Over 50 businesses attended the session presented by Lt. Governor, Elizabeth Roberts. The Chamber event was sponsored by the U.S. Small Business Administration, HealthSourceRI, and The Small Employer Health Task Force. The Lt. Governor emphasized the fact that for the first time businesses don’t have to pick one health plan to fit their entire workforce since employers can now give their employees the option of “Employee Choice.” Employees can now go to HealthSourceRI and pick a plan that best suits their financial status and healthcare needs. The Cranston Chamber will be actively doing outreach for the small business community by scheduling additional seminars with various business groups and organizations.

New Members Conroy’s at Your Service Mortgage Access Corp Natural Awakenings

Star Nails and Spa Morgan Stanley, Danielle Warren and Robin Russo www.risbj.com | volume two issue seven

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SMALL BUSINESS | Beer and Marketing

Beer and Marketing

by Nancy Thomas

That is what my potential new client blurted out at the very end of a one-hour circuitous meeting where we talked advertising and TV commercials. We talked website and social marketing. We talked about new graphics, maybe a new slogan or logo, and photos and YouTube videos – and then this statement came out, just like that, and I stopped talking and listened.

His business wasn’t really bad. It was quite well established. But, it was just a ‘little slow lately.’ It’s a family business, one that will provide retirement for more than one family member, and an income stream for those to come.

I was talking to the president of the company, who had taken over the business from his father and had been running it for over 30 years. Business always came to him; he didn’t go after it in any strategic way. He had done a few things to bring his PR and marketing up to date. He put up a basic website, and did some traditional newspaper advertising. He was thinking about radio. Direct mail. I asked him if he did any social marketing. Was the company, or was he, on Facebook or Twitter? No, he hadn’t done any of that.

Was he on LinkedIn? Yes, he was. OK. Did he have a photo on LinkedIn and how many people were connected to him? No photo. 32 connections. Were his employees on LinkedIn? And if they were, did they have the company name associated with theirs. They were

Put me in a room with a guy and let me buy him a beer – I’ll close the business

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RISBJ | rhode island small business journal

What’s New | CHAMBER CHAT

on LinkedIn and most of them did list the company. All of them were in their 30s or early 40s, some in their 20s. He thought maybe his daughter had put up a Facebook page, but now she was in grad school and he didn’t know “where it was.”

“Do you go to networking events?” I asked.

“I go to Rotary and sometimes to the ‘chamber.’”

“Do your employees go, and do they represent the company? Do they have business cards, and a brochure or handout of some sort? Do they know what you want them to say - your elevator speech?”

“I don’t know. I don’t think so,” he said.

OK. The roadmap appeared before me.

Perhaps if I didn’t have over 25 years in the business myself, I might not have understood what this executive needed to do. But I did understand, almost immediately. As a matter of fact, at that moment, I thought seriously about asking him if he wanted to get a beer, or, um, a glass of wine.

Marketing and public relations had changed.

Advertising had changed. And many new things had been developed – social marketing, mobile apps and mobile marketing - that he knew nothing about. “I feel your pain,” I said, “and I can help.”

If you’ve been pretty successful in business yourself, first, congratulations! But if you notice that things are getting a little slow, and that’s starting to worry you, then let’s do a refresher. Don’t worry. There are many ways you can catch up. And quickly.

The key is not to try to do these things yourself. Your job will come later. Right now, you need to hire yourself ‘the best’ consultant.

One you will trust and give some freedom to. That person will do their research on your company, competition, your uniqueness, and your challenges. That will form the basis of a PR and Marketing Plan. Included will be a revamping of your branding or re-establishing your presence. Website fine tuning, social marketing platforms, management and plans, messaging that will form the basis of advertising and collateral, even signage and employee training. A full PR strategic plan will be set simmering for you.

While this is happening, you’ll want to do some branding of YOU, as well. New photos, some institutional, some interactive. Perhaps a short YouTube video or 30-second TV

commercial, featuring YOU, of course. Are you involved in your community? Most likely you are, but we’ll want to ramp that up in a visual way. Your social responsibility plan should be woven into your business plan.

Perhaps your company can sponsor a local Little League, or put together a Walk team, or sponsor a cultural activity. Can you do a check presentation? Would your company like to give away a small scholarship or make a presentation for community service? Let’s do that and get it in the press.

Once there is what PR people call “buzz” happening about you and your company, then you can work the circles closest to you.

Start with those at the center - your loyal and best customers. THIS is where that beer comes in! You want to call them up and buy them lunch. Or a drink after work. Or breakfast. Or stop by their office. Or take them out for a sporting event. You want to sit with them and do what YOU do best. Form that relationship. Fine tune and deliver that new elevator speech. Don’t be afraid to get personal, talk about the family, and issues of the day. Leave them a few brochures or postcards about something new, and ask the person to give them to a few of their friends.

Ask them, also, what you can do for them.

You’ll follow that meeting up with a short thank you email or even better, a personal note. If you feel uncomfortable giving the cards out in person, you can insert them in the thank you note.

Like a ripple in a pond, work your circles from the center out. Keep the rest of the marketing and PR simmering. Once you’ve gone through the circles pretty well, it’s time to add in a wider networking mix. And you’ll have your choice of what to pick from. From the formal sit-down-once-a-week-for-lunch group to the hub bub of a leads mixer with games. What are you most comfortable with?

Take some employees with you to work the room, and make sure leads generation is put on their list of performance standards.

Develop a process of handling leads that come back to the office – follow-up is key!

You’ll meet new people. You’ll have lots to talk about. And, when you get that feeling that you are standing before your next best customer, seize the moment! Ask to buy them a beer! Or, maybe lunch. YOU are on now. You’ve done your homework, put your promotion on high simmer, so do what you do best – close the business.

Nancy Thomas Owner Tapestry Communications

East Bay Chamber

Mark G. DeVine, CPA, Chairman 16 Cutler Street, Suite 102, Warren, RI 401 245 0750 | eastbaychamberri.org Our mission is to promote businesses as the foundation for community growth and wellbeing by being the most reliable resource and leading advocate for businesses throughout the East Bay and surrounding areas. We are here to help you succeed!

East Bay Chamber Partners is excited to partner with SaaS Markets to Launch a New App Store. Business owners and entrepreneurs now have access to prequalified software-as-a-service applications (SaaS) designed to add value to their businesses. The app store is accessible through our Chamber website, and is now live and available to Chamber members at eastbaychamberri.saasmarkets.com.

New Members Speedpro Imaging United Way of Rhode Island Paul Gagnon Realty Go Campus Delivery Hoss Home Care, LLC

Newport

Jody Sullivan, Executive Director 35 Valley Road, Middletown, RI 401 847 1608 | www.NewportChamber.com NEW Health and Wellness Seminar Series Slated to begin September 2013 The Newport County Chamber has long offered educational and business-orientated seminars to their members. The Chamber is grateful that as of September 18th, they are offering members a new series of Health and Wellness Seminars. This series is being sponsored by Olympic Physical Therapy. Don Levine, co-owner of OPT will be presenting the topic Workplace Wellness Programs for Small Business Owners. Health and Wellness Seminars will be scheduled each month on the third Wednesday. More information about the series can be found at www.

NewportChamber.com.

New Members Constellation CG Three Islands

North Central Chamber

Deborah Ramos, President 255 Greenville Avenue, Johnston, RI 401 349 4674 | www.ncrichamber.com

Summer at the Chamber Office has included speed networking, summer field trips and a summer soiree; lots of great stuff offered to our Chamber members, local business professionals and the local community.

At the North Central Chamber it’s all about “Businesses supporting Community supporting Businesses! With that said, we now head “back to business” for you….the small business owner/professional.

The North Central Chamber offers many benefits for the small business owner – from bulk mailing discounts to credit card service discounts and much, much more.

www.risbj.com | volume two issue seven

51

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RISBJ | rhode island small business journal

What’s New | CHAMBER CHAT

A Simple 4-Step Process

We pride ourselves in supporting the towns of Johnston, North Providence, Smithfield, Scituate, Foster & Glocester.

for Effectively Delegating Tasks

For more on our events, visit ncrichamber. com and make us one of your “Favorites.”

Follow us on Facebook - we’ll follow YOU, too!

by Dana D’Orsi

Step 1: Email clear instructions, along with a deadline.

Even if you delegate the task verbally (by phone or in a meeting), I always recommend capturing the assignment in writing via email. This way, there’s no room for miscommunication.

Make sure you indicate exactly what you want done, along with your desired outcome and a DEADLINE! If you’re not sure how much detail is too much, always err on the side of overcommunicating.

Step 2: Track the task.

Having a “Waiting on…” list can be instrumental for you in keeping on top of things.

Sometimes, once you’ve taken the next action you can personally take for a particular activity (e.g., sending an email, placing a phone call, mailing a letter, etc.), you can feel like your job is done—even though the loop hasn’t been closed and you’re still waiting on something. So anytime you take an action which results in having to wait for a response, answer or more information so you can move forward, jot it down on a special “Waiting on…” list.

Then (and this is critical!), make it a habit to look at this list every morning so you can follow up on anything that’s past its deadline or anything that’s been outstanding for too long. This way, you don’t ever have to waste mental energy worrying about things falling off the radar.

Step 3: Confirm the message was received, the deadline works and the instructions were clear.

Set the expectation ahead of time that whenever your support person receives a task from you via email, he or she will respond immediately to confirm that the message was received and indicate whether or not that deadline will work. For example, they’d send something super quick that either says, “Got it – deadline works” or “Got it. Deadline will not work for X reason, but I can get it to you by Y date/time.” Also, this would be a great time for them to let you know if they have any questions about the task.

Step 4: Close the loop.

When your support person completes the task, he or she should send a quick, simple email with the word “Complete” or “Done,” along with any other information you might need related to the task. If, for some reason, the task is not completed on time, he/she should let you know why and what’s being done about the situation.

Bonus Step: Create your Operations Manual, task by task.

If the task was an activity that will need to be performed regularly in your business, ask your support person to record in detail how he or she got it done. This is a great way to create your overall Operations Manual—task by task, as each activity is performed.

And that’s it…easy peasy, right?

Note: I know there are much fancier project management tools out there (e.g., Basecamp or Central Desktop) that facilitate the flow of assignments to team members, but I wanted to share something that anyone could implement right away, even without any special software, to immediately improve their task delegation.

Dana D’Orsi Business & Marketing Coach Dana D’Orsi International

New Members Bayberry Commons, HCLTDRI Heritage Hills Nursing Centre Morgan Health Center Pinegrove Health Center Promail Etc.

Northern RI

John C. Gregory, President/CEO 6 Blackstone Valley, 402, Lincoln, RI 02865 401 334 1000 | www.nrichamber.com The Northern Rhode Island Chamber has formed a partnership with the Employers Association of the Northeast to provide a variety of seminars to help businesses grow and to address issues in the workplace. The fall schedule of seminars includes topics such as: Leadership Skills, Managing Difficult Employees, Legal Liabilities of the Supervisor, Communication Skills & Conflict Management and Employee Training & Coaching Skills.

All sessions will be held in the Chamber’s conference room. To learn more about the seminars and to register, visit nrichamber. com or call 334-1000.

New Members Dental Associates of Cumberland Generations Comprehensive Health & Rehabilitative Services Greenville Kitchens & Baths KC Bookkeeping Service SES America Subway at Diamond Hill

Southern RI

Elizabeth Berman, Coordinator 230 Old Tower Hill Road, Wakefield, RI 401 783 2818 | www.srichamber.com The SRI Chamber is busy planning varied events for members and the community. Our popular International Wine & Local Cuisine of Southern Rhode Island event takes place September 26 and features tastings from member businesses of culinary specialties, wines, and spirits. The event takes place at historic Peace Dale Mill. Our second Ignite!

Southern RI takes place November 23 at The Contemporary Theater Company. Upcoming networking events include September 18 Business After Hours, hosted by Stagecoach House Inn, 1136 Main Street, Wyoming, 5 to 7 p.m.; and October 4 First Friday Coffee, hosted by South County Hospital, 8 to 9 a.m.

All networking events are $5/person; all are welcome. Events found at www.srichamber.com.

New Members Point Judith Yacht Club Hopkinton Liquor Depot Wakefield Painting Company Sa-Tang Restaurant Gifford & Perkins Partridge Snow & Hahn LLP The 401 Studio The Hive RI Teresa Occhiuzzo, Mary Kay

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FEATURED NONPROFIT | Financial Coaching Corps Rhode Island

The RI Financial Coaching Corps’ Drive to Financially Empower RI Far too many Rhode Islanders – and in some cases your own employees--face financial challenges ranging from being caught in a debt cycle, to a lack of savings and poor credit. When employees face financial challenges, productivity at work often suffers.

The statistics affect us all: • •

• •

Rhode Island has the fifth highest average credit card debt of any state.

67 percent of Rhode Islanders say they have difficulty covering expenses and paying bills.

Only 36 percent of Rhode Islanders have emergency funds.

52 percent of Rhode Islanders have sub-prime credit scores.

To complicate matters, every day it gets easier and easier to spend money.

Understanding the impact of a couple important personal financial decisions could be the difference between staying out of debt and getting into it. I believe that if your employees are more financially stable at home, your business and our entire state will experience the economic benefit.

It is a priority of mine to help people find ways to make informed and disciplined choices to achieve their financial goals. This includes reaching out to businesses to raise awareness about a financial empowerment employee benefit program.

Rhode Island Financial Coaching Corps Working with Businesses The Rhode Island Financial Coaching Corps (FCC) is a unique, community-based partnership between my office and the Capital Good Fund, (CGF) a Providencebased non-profit that offers innovative microloans, free tax preparation and

personal financial coaching to Rhode Island families and employees. The FCC offers an employer-based model to deliver financial coaching.

The yearlong employee benefit coaching relationship is individualized, outcomesbased, and tailored to the needs of the client.

Each employee receives three one-on-one coaching sessions on a broad array of financial topics, including: goal-setting, budgeting, building credit, managing debt, increasing savings and tax preparation. Low cost consumer loans are also available.

Sessions are held at a time and place that is convenient for the client, and CGF’s financial coaches are determined to provide outcomes that are lasting and transformational.

Employer-based Coaching In Action

RISBJ | rhode island small business journal

Scot Jones, president and CEO of Groov-Pin, believes the program is smart for business. He has told me that when armed with financial understanding, his employees’ personal finances improved, which, in turn, created an atmosphere where he could talk about the company’s finances.

Jean Lemieux, a Groov-Pin employee, believes the coaching changed her thinking about her financial situation. She learned strategies to plan for short-term and long-

I believe that if your employees are more financially stable at home, your business and our entire state will experience the economic benefit.

The FCC provides the employee with the resources needed to be financially stable and successful. In turn, the employer benefits from increased productivity, a boosted morale and employee retention.

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Groov-Pin, a North Smithfield manufacturer, has chosen to invest in this program for their employees and has taken advantage of this individualized, professional financial coaching partnership. They are seeing results.

term goals, and ways to protect her money in a difficult economic environment.

Employers have found that adding this employee benefit is a win-win. Employees gain financial stability, improved credit and a toolkit for success. And employers have seen increased productivity and an impact on employee retention.

Improving the Rhode Island Economy By individually improving financial well-being, we can collectively improve our state’s economic well-being. If an employee can free themselves from paying penalties and late fees, then they can spend more in local businesses, consider going back to school with less debt or feel confident about paying their mortgages.

If we are going to strengthen our economy -- and turn the state around -- we all have a role to play, we all have to chip in. Coming together to ensure that we are all more financially empowered will help our state thrive and our economy will become stronger.

For more information on how the Financial Coaching Corps can help your business, or if you have an interest in volunteering as a financial coach, call CGF’s Executive Director Andy Posner at 401-339-5437.

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info@CapitalGoodFund.org www.risbj.com | volume two issue seven

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2013 OSSBE SEMINAR SCHEDULE

Seminar Room 1 11:30am – Financing Your Business Description: A comprehensive seminar detailing SBA loan programs and general strategies for preparing successful loan proposals. Participants will learn how SBA can help turn a ‘decline’ into an ‘approval,’ as well as tips to prepare successful business plans and financial projections.

Presenter: Gregory Gould; Lender Relations Specialist, SBA

12:30pm – Using Mobile Web & Social Media to Attract & Convert People to Customers

The Ocean State Small Business Expo, Rhode Island’s premier event for connecting small businesses to each other and to larger companies, is scheduled for Wednesday, October 2, 2013. The Expo is being held at the Crowne Plaza in Warwick, RI and runs from 11:00am – 7:00pm.

The expo’s mission is to support the growth and development of Rhode Island’s small business community.

The excitement is building as we welcome more sponsors and exhibitors than ever before.

The expo features over 100 exhibitors, valuable informational seminars throughout the day, and a networking cocktail reception from 5:00 – 7:00pm. Take a look at the Seminar Schedule so you can mark your calendar for the ones you are planning to attend.

Description: Social Media and Mobile Web are no longer the keys to the future. It is the present and businesses need to be using it effectively to grow their companies. This timely panel discussion covers building your web presence, creating and integrating mobile web into your business, attracting people to you using social media and converting them into customers.

Moderator: Patricia Raskin Panelists: Darren Marinelli; Pres., Artinium, Inc.

Mark Reece

Tony Guarnaccia; Digital Marketing Captain, Big Fish Results

1:30pm – Keys to Attracting, Keeping and Maintaining Your Client Base Description: In today’s fast-paced and highly competitive business environment, we all know maintaining customer loyalty is not an easy task. There are things you can do and behaviors your business can adapt to help you build better relationships with your customers. This panel discussion will center on this all important facet of your business’ ability to grow and thrive in the long run.

Moderator: Brian Trahan; Managing Dir., Center of Phenomenological Leadership Panelists: Patricia Raskin; Radio talk show host, producer, speaker, author, host of “Positive Living” and “Positive Business”

Tuni Schartner; President; TRS Strategies Dana D’Orsi; Branding and marketing expert, speaker, creator of the “Skyrocket Your Success” System™ and the “Build Your Six Figure Business” Blueprint™ Lynda Robataille; President and CEO; Perspective Communications Group

2:30pm – The Importance of Workplace Wellness Description: Wellness programs can play an important role in building or maintaining a profitable and successful company. For some small businesses, managing the costs of providing healthcare can put a strain on the bottom line. Years of studies done nationally show that engaged employees accomplish more, have less absenteeism and are generally happier at work. Health and wellness programs help to engage and retain employees. It’s these employees who ultimately will provide the best service experiences to your customers. While there are many different types of wellness programs, the basic foundation of these programs remains the same. They encourage individuals to embrace positive behaviors and adopt a healthier lifestyle. Learn how you - as a small business owner - can influence your workforce to adopt healthy behaviors, be happier and more productive and, in turn, positively impact your business results at minimal cost to you.

Presenters: Debra Cornish; HR Director and Mona Kilcoyne; HR Supervisor; Cox Communications

3:30pm – Everything a Small Business Owner Should Know About Legal Issues Description: Running a small business is complicated. You’re a small business owner, not a legal expert. Still, you need to navigate corporate legal issues, negotiate agreements, hire and fire employees, understand intellectual property laws, corporate liability, and countless other legal issues as you start and grow your business. With so much to know and learn, how do you know where to begin? At this seminar, Miriam Ross, Esq., an experienced small business lawyer, will share her insight on the key legal questions you may not even have thought to ask, but that are essential for building and running your business.

Presenter: Miriam Ross, Esq.

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Seminar Room 2

Garden Pavilion

11:00am – Beyond Marketing 101 Basics: Strategies For Business Owners to Make Things Happen

5:00pm – What Do You Know?: Communications Games

Description: We are constantly being told to email, send letters, and use social media and the leads will be knocking on our doors. Success-oriented business owners care most about what happens next. This workshop will show you how to be the architect of your business and build a sustainable business for profits and growth. Topics to be covered include: You know your MARKET, now how do you reach them? You need more LEAD GENERATION – what do you do? You have a SALES PROCESS, so how do you implement it? Your business could have a MEMBERSHIP – your customers could be a member loyal to you. How can AUTOMATION assist in putting it together for you? Your Business Blueprint.

Presenter: Joe Norcott; Pres., Business Technologies of New England, Inc.

12:00pm – HealthSourceRI Description: Healthcare in America is changing and no one is affected more than small businesses. Open enrollment for the new healthcare plan offerings begins on October 1, 2013 and go into effect on January 1, 2014. HealthSourceRI, Rhode Islands’ health benefits exchange, conducts a seminar that will teach small business owners how to find, compare and purchase affordable health insurance plans that best fit the healthcare needs for them and their employees.

Description: Enhance your expo experience by being a contestant or audience member at this fast-paced, lively Education by Entertainment program. You will learn about your strengths and weaknesses as you perceive, think and respond, as well as have fun and gather information that you can use to improve your business performance and communication. This “Game Show” program is a great way to bridge the gap between the expo, the earlier seminars and the evening’s networking event.

Presenter: Ronald G. Shapiro, PhD

Presenter: Hon. Lt. Gov. Elizabeth Roberts

1:00pm – Top 10 HR Concerns that Small Businesses Need to Know Description: Karyn Rhodes specializes in all areas of Human Resources, including strategic planning, employee and labor relations, recruiting, compliance, training and development, compensation and benefits, policies and procedures, organizational development and workforce planning. She has more than 20 years of experience in HR Best Practices stemming from her work with large, international organizations to small, family-owned businesses. Karyn has presented seminars entitled “Women in the Workplace,” “Navigating HR Compliance,” “Compliance is Complicated – HR’s Top 10.”

Presenter: Karyn Rhodes; VP HR Consulting; Cornerstone Group

2:00pm – Leveraging the Marketing Power of LinkedIn Description: Most professionals have a LinkedIn profile, but a significant percentage of those people are only using part of this useful tool, or aren’t using its features effectively. Failing to spend some time establishing, building, maintaining, and promoting a solid, engaging LinkedIn profile is a significant missed opportunity in today’s marketplace, and not just for job seekers. This presentation will teach you how to create a sound marketing strategy, use LinkedIn in a cost- and time-effective way to uncover opportunities from your hidden network, and attract global leads and partners to your business.

Presenters: Chris Ciunci; CEO; Tribal Vision

3:00pm - HealthSourceRI Description: Healthcare in America is changing and no one is affected more than small businesses. Open enrollment for the new healthcare plan offerings begins on October 1, 2013 and go into effect on January 1, 2014. HealthSourceRI, Rhode Islands’ health benefits exchange, conducts a seminar that will teach small business owners how to find, compare and purchase affordable health insurance plans that best fit the healthcare needs for them and their employees.

790AM Talk & Business OSSBE Broadcast Schedule 10am – 12pm The Financial Exchange with Barry Armstrong live 12pm – 3pm Business Talk & Expo Interviews with John Loughlin 3pm – 4pm Expo Interviews with Patricia Raskin 4pm – 5pm Rotary International Hour

Presenter: Christine Ferguson; Exec. Dir.; HealthSourceRI

Cocktail Reception The expo wraps up with a large networking cocktail reception in the Garden Pavilion from 5:00 – 7:00pm.

This will quite possibly be the largest networking event in the state for October. It is the perfect way to unwind at the end of a busy day if you are an exhibitor and a great way to meet the exhibitors if you were unable to come to the expo during the day. There will be fun, food and a cash bar. The reception is hosted

by Out-of-the-Box Networking, Uncle Jay’s Networking, The Rhode Island Small Business Journal and BNI. www.risbj.com | volume two issue seven

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DONT MISS THE 2013 OCEAN STATE SMALL BUSINESS EXPO Wednesday, October 2nd At The Crowne Plaza In Warwick, RI

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The Rhode Island (More Value & Profit) MVP Program Businesses Create More Value & Profit through the 5 Core Sources of Value; Health, Wealth, Earth, Equality & Trust

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| volume two issue seven 59 Contact Joy P. Poland at 401.714.7123 or MVPinRI@aol.com for your www.risbj.com FREE Earth Assessment today…

SMALL BUSINESS | Good Things Happening In Our Back Yard

Good Things Are Happening

IN OUR BACKYARD

by Chris Barnett

The Foundation wants you to share your own success story on the campaign’s website and social media, including Twitter and Instagram, using the hashtag #ourbackyardri.

Backyard’s funding comes from the Foundation, the R.I. Commodores, Delta Dental of R.I. and the Victor and Gussie Baxt Fund at the Foundation. In addition, a host of companies including the Rhode Island Small Business Journal, Channel 6, Channel 10, Channel 12, Clear Channel Media, Cox Communications, Cumulus Media, Full Channel, GoLocalProv, Lamar, the R.I. Airport Corporation and Verizon have donated advertising space and time as well as other services.

Bet you didn’t know that Rhode Island is shipping shoelaces to China or making a medical device for researchers all over the world. Well, soon you’ll know much more than that about Ocean State success stories.

The Rhode Island Foundation has launched a statewide marketing campaign designed to celebrate Rhode Island and highlight the state’s people, organizations, businesses and industries. “Rhode Island: It’s All in Our Backyard” features TV and radio ads, billboards, posters, web banner and tile ads and even window decals.

“This is an internal marketing campaign designed to change the way Rhode Islanders talk about their state. There are plenty of successes to feel good about right here in our own backyard -- global industry and cutting-edge innovation, thriving entrepreneurship, world-class universities and a vibrant arts and culture scene,” said Neil Steinberg, the Foundation’s president and CEO. “The state has a self-esteem problem.

Backyard is a fact-based campaign that uses the real stories of real people to remind us of all the good things that are happening here,” he said.

The campaign includes a website -ourbackyardri.com -- that features videos highlighting success stories such as Armando Nieves, a small businessman who owns two neighborhood meat markets, and

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The Basics Group and MYRANDA Group were the campaign’s creative and communications consultants.

Brown University scientist Jeff Morgan, who invented a 3D Petri dish that is manufactured in Rhode Island and sold around the world.

“Our Backyard aims to shift the tone of the conversation in Rhode Island, so we can engage in more productive discussions about how to address the real challenges we face,” said Jessica David, the Foundation’s vice president of strategy and public affairs.

Cheryl Merchant, president and CEO of Hope Global, is another of the Rhode Islanders featured in the campaign. The Cumberland textile manufacturer is celebrating its 130th anniversary this year.

“Manufacturing has always been a base and a core of the American and Rhode Island economies,” she said. “And now it’s on a new wave. It’s innovative; the processes are at a whole new level, speed and sophistication. At Hope Global, we are using lasers, ultra-sonics, and computerized cutting tables in the manufacture of textiles for many industries.

“Hope Global was actually awarded all of Red Wing Boots’ business in China and the USA. We brought this business back to Rhode Island and now ship Timberland, Red Wing and Wolverine boot laces to China, as well as the USA,” said Merchant. “To meet added engineering performance requirements, we’ve made them with pull strength and UV testing and anti-wicking and all the things you wouldn’t think you would do to just a simple shoelace.”

Backyard is an outgrowth of the Foundation’s economic development initiative, Make It Happen RI, which last year brought together more than 300 private sector and community leaders to brainstorm ways to jumpstart the state economy.

Supported through the Foundation’s Civic Leadership Fund, Make It Happen RI identified six major themes that emerged from the working sessions, including promoting Rhode Island inside the state.

The Foundation also announced a commitment of $1 million above its regular grantmaking to fund ideas and projects stemming from Make It Happen RI. So far, 16 projects have received more than $800,000 in funding.

The Rhode Island Foundation is the largest and most comprehensive funder of nonprofit organizations in Rhode Island. In 2012, the Foundation made grants of more than $30.4 million to organizations addressing Rhode Island’s most pressing issues and needs of diverse communities. Through leadership, fundraising, and grantmaking activities, often in partnership with individuals and organizations, the Foundation is helping our state reach its true potential. For more information, visit www.rifoundation.org.

Chris Barnett Senior Public Affairs Officer The RI Foundation

BUSINESS EXPO The largest business to business trade show in the SouthCoast!

10:00 a.m. - 4:00 p.m.

4:00 - 5:00 p.m. "Networking Power Hour"

Connect, Promote, Grow!

White’s of Westport 66 State Road Westport, MA

WEDNESDAY OCT. 16, 2013

SOUTHCOAST

Free Admission with Business Card

Attention Business Professionals:

Don’t miss the SouthCoast’s largest business to business trade show on Wednesday, October 16th from 10:00 a.m. to 4:00 p.m. at White’s of Westport. This show will be packed with new business products and services with nearly 100 exhibitors and close to 2,000 attendees!

Admission is free with business card.

To reserve a booth or for sponsorship information, please call Caitlin Tapper at 508-999-5231 ext. 26 or email events@newbedfordchamber.com.

sponsored by:

for more information visit:

www.newbedfordchamber.com

www.risbj.com | volume two issue seven

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