July 2022 Issue of In Business Magazine by InMedia

JULY 2022

2022 Top 50 Small Business Services Guide

ARE YOU

GAME?

Gaming and sporting events are a ‘big win’ for our economy Domain

Hijacking Threat Succession This Month’s Guest Editor

Robert Miguel

Chair, Arizona Indian Gaming Association

Planning

Dynamic Work

Environments $7.95 INBUSINESSPHX.COM

THIS ISSUE Arizona Technology Council

In Arizona, small business is a big deal.

The Arizona Commerce Authority offers a wide range of programming to support entrepreneurs and small business owners. Find tools to help launch, operate and scale your business with our online, interactive Small Business Checklist. View webinars in our Small Business Boot Camp to help you master everything from finances, to leadership, to business plans. If you want to improve your digital footprint, our Small Business Digital Academy offers hands-on training to help grow your presence online. Plus, we’ll connect you with fellow Arizona business leaders who can share valuable insights and growth strategies to help you find success. Whether you have questions about getting started or you’re looking for a strategic plan to take your business to the next level, we’re here to help.

azcommerce.com/small-business

JULY 2022

COVER STORY

Are You Game? Gaming and sporting events are a ‘big win’ for our economy

From iconic granddaddy event Phoenix Open to the (need an adjective) Tribal casinos to the new Caesars Sportsbook opened in partnership with the Arizona Diamondbacks, In Business Magazine looks at the economic impact of these valuable entertainment venues.

FEATURE

Domain Hijackers Prey on Business Websites

Mario C. Vasta discusses how businesses can protect their websites from fraudsters looking to hijack their clients.

Succession Planning: Preparing for the Expected or Unexpected

Jeff Friesen explores why and how a strategic succession plan should be a top priority for business owners.

The Future of Work: Dynamic Environments

Rory Carder discusses how to make the office an experience multiplier.

DEPARTMENTS

9 PARTNER SECTION Summer 2O22 • aztechcouncil.org

IN THIS ISSUE 2 World Comes Calling

Arizona Technology Report

Arizona Technology Council: The Voice of the Technology Industry

WHO WE ARE

47 Arizona Technology Council

SPECIAL SECTION 2022

Top

10 11

Caillou Pena, Government Relations Specialist Amanda Rincon, Ecosystem Team Member Lisa Ristuccia, Festival Team Member

ARIZONA TECHNOLOGY REPORT

Robert Miguel, chair of the Arizona Indian Gaming Association, introduces the “Gaming & Sporting Events” issue.

Feedback

Greg Hague, John Kobierowski and Eivan Shahara respond to In Business Magazine’s burning business question of the month.

President’s Message

We likely would agree that life overall in the United States has become better than it was 130 years ago. After all, there are more options to 3 In It Together help build businesses and live more comfortable Avnet, Chief Science Officers support lives than would have been possible four each other’s global outreach generations earlier. The Arizona Technology Council’s efforts showcased in this and previous 4 Living the Dream Members keep the Council’s own sections of this publication are very much about tenets very much alive furthering this evolution. Through our representing an industry 5 Council Board Names Four Steven G. Zylstra, President + CEO responsible for much of the innovation that has Newest Members Arizona Technology Council driven much of our growth, we can attest that the nation is a different place than when the Sherman Antitrust Act of 1890 was enacted. If you’re a little fuzzy on the law, it was created to curb power that interfered with trade and cut into economic competition. The Arizona Technology Council is Arizona’s We now live in a country where someone with a small company based in New River has as premier trade association for science and much chance of bringing the next great thing to market as a firm in New York. Startups have technology companies. become dependent on a thriving ecosystem of investment capital and successful exits. Success Phoenix Office often is measured by a smaller company becoming part of a larger, established enterprise. It’s 2800 N. Central Ave., #1530, Phoenix, AZ 85004 indeed a different time. Phone: 602-343-8324 • Fax: 602-343-8330 Now, Congress is considering measures that could unravel these opportunities for others. info@aztechcouncil.org Several antitrust bills — including the Platform Competition and Opportunity Act being Tucson Office considered in separate measures in both chambers — could take us back to the equivalent of the 1215 E. Pennsylvania St., Tucson, AZ, 85714 horse and buggy days. Phone: 520-388-5760 While the intent of the two proposed acts is arguably focused on a handful of large companies, tucson@aztechcouncil.org passage of such legislation will have unintended negative impacts on the smaller members of technology sectors that have become critical parts of our economy. MANAGEMENT AND STAFF The most significant of these impacts would be driven by language limiting merger Steven G. Zylstra President + CEO and acquisition activity for startups. According to a recent report by the bipartisan policy Laura DeGeorge Chief of Staff research organization Center for Strategic and International Studies (CSIS), the intent is to Deborah Zack Vice President, Membership Services prevent anticompetitive effects through a ban on dominant platforms buying current or Karla Morales Vice President, Southern Arizona Regional Office potential competitors. Bianca Buliga Director, Marketing + Communications Instead, according to the report, the bills “would substantially alter merger and acquisition Darryle Emerson Director, Programs + Events review standards for a small number of dominant companies, raising concerns that the Jamie Neilson Director, Operations, Southern Arizona requirement to present ‘clear and convincing’ evidence of the absence of potential harm could Regional Office Angelica Espinoza Bookkeeper create a chilling effect that would significantly decrease acquisitions by covered platforms.” Sara Beschloss Administrative Assistant Monopolies can be regulated sufficiently through well-established laws, including the Don Rodriguez Editor Clayton Antitrust Act of 1914. Overarching regulation of company size and growth does little Ron Schott Executive Emeritus, Phoenix to promote a healthy innovation economy or regulate social media platforms. SCITECH INSTITUTE CSIS raises another frightening possibility with the passage of two other bills, the Steven G. Zylstra, President + CEO Senate’s American Innovation and Choice Online Act and the House’s similar American Jeremy Babendure, Ph.D., Executive Director Kelly Greene, Chief Operations Officer Choice and Innovation Online Act. Opponents of the two measures have expressed concerns Kaci Fankhauser, STEM Ecosystem Coordinator that the nondiscrimination provisions in the bills prevent attempts by digital platforms to Claire Conway, STEM Ecosystem Programs Manager remove misinformation, hate speech and other harmful content. This would contribute to Jake Lounsbury, Director of Global Partnerships Hope Parker, Curriculum & Training Specialist the unraveling of efforts to build a diversity, equity and inclusion culture. Michele Roy, Grants Manager We encourage Congress — and you — to research what proposed antitrust legislation Tammy Doerksen, CSO Advisor Training really could do to the innovation economy in the United States. Yes, “monopoly” is a scary Destiny Madaje, Resource & Event Manager Fritz Smith, Arizona CSO - Rural Support word, but it’s scarier to roll the dice and risk losing the entire game.

Delegations show personal interest in Council, Arizona’s tech ecosystem

aztechcouncil.org

Guest Editor

Small Business Services Guide FEATURING

Briefs

“Cold Beers on Hot Streak,” “Dailies Top Stories,” “Local Standouts Recognized for Achievements and Philanthropy,” “Checkers & Rally’s Plans for Explosive Growth Launches in Phoenix” and “Relocated Arizonans and Travelers Fuel Dispensary Growth”

By the Numbers

Quarles & Brady

Companies That Support

Stearns Bank N.A.

Small Business

PRESENTED BY

Meet our Top 50 highest-recommended small businesses and small-business services companies …

53 2022 Top 50 Small Business Services Guide

JULY 2022

INBUSINESSPHX.COM

From the Top

Kim Reedy’s greatest function as OneAZ president and CEO is inspiring associates to fulfill their potential.

Healthcare

“Public Health Initiative from BCBSAZ,” “Complete Care Concept Debuts in Surprise” and “Private Practice Opens in KetamineAssisted Psychotherapy”

Technology

“A Nervous System for Robots” and “Online: Micro-Influencers Expand Company Reach”

Books

New releases give fresh insights on business thinking.

En Negocios

Feature articles in Spanish and English on Liderazgo / Leadership and Economia / Economy

Economy

Rhett Doolittle examines the 5 C’s of credit and microloans as an option for small businesses.

Nonprofit

Large-scale Valley growth calls for large-scale social solutions to address community needs.

Assets

Considering the strong interest in diverse workforce sectors, are Americans finally working to live?

2022 Mercedes EQS Sedan Plus: Can lunch delivery be a return-to-office benefit?

Startups

Power Lunch

“AZ Liquids – Flowing Its Juices and Coffees B2C and B2B” and “Stenson Tamaddon: Technology-First Accounting”

Los Sombreros Uptown: Get Down with Oaxacan-Inspired Mexican Cuisine

Aker Ink Cox Business Guidant Law Firm

Meet the

CRE

“Sale-Leasebacks Allow Property Owners to Have Cake and Eat It, Too,” “Land Sale Adds to the Expansion and Development of Litchfield Park,” “Cavasson Continues Growth with Commitment from Meritage Homes” and “Prop Tech Is Streamlining the Real Estate Investment Process”

Roundtable

Susan Robertson offers a surprising answer to the question, “Is brainstorming more creative online or in-person?”

Cover photo Chase Field, courtesy of Arizona Diamondbacks

According to a study recently released by SmartAsset of the places experiencing the most growth in their local economy, Maricopa County ranked among the top places for GDP growth in Arizona from 2020 – 2021. smartasset.com

Together, we’ll find new possibilities The health and well-being of your employees matters. UnitedHealthcare is here to help you guide them toward brighter days ahead. From finding new ways of controlling costs to connecting them with medical care and mental health support, it’s good to have a health plan that’s on their side — and in your corner.

Learn more at uhc.com

Insurance coverage provided by or through UnitedHealthcare Insurance Company or its affiliates. Administrative services provided by United HealthCare Services, Inc. or their affiliates. Health Plan coverage provided by or through UnitedHealthcare of Arizona, Inc. B2B EI211205447.0 12/21 © 2021 United HealthCare Services, Inc. All Rights Reserved. 21-1202769-A

Words

OUR CONTENT CREATORS

July 2022

VOL. 13, NO. 7

RaeAnne Marsh Editor, In Business Magazine RaeAnne Marsh became editorial director of Phoenix-based InMedia Company in 2010 and helped launch Valley-wide business resource In Business Magazine. Her journalism career began more than 20 years ago, when she left California and 12 years of teaching to transplant in Phoenix’s vibrant entrepreneurial environment, and includes incorporating her own business, Grammar & Glitz, Inc., through which she has taken writing and editing gigs with business and media clients nationwide. Holding the magazine to strong editorial standards, she says, “New businesses are founded, out-of-staters bring new strengths, established businesses evolve and expand — all of which contributes to the dynamic vitality that I see as the mission of In Business Magazine to be the voice of and vehicle to nurture, in each monthly edition. It is my challenge to ensure each edition is packed with relevant information on a broad spectrum of issues, aimed at a readership that runs the gamut from entrepreneurial startup to major corporation.”

Edgar R. Olivo

Publisher

Rick McCartney

Editor

RaeAnne Marsh

En Negocios Editor Web Editor Graphic Design

Edgar Rafael Olivo Jake Kless Benjamin Little

CONTRIBUTING WRITERS Or Agassi

Kim Reedy

Melissa L. Boydston

S. Barrett Rinzler

Rory Carder

Susan Robertson

Rhett Doolittle Jeff Friesen

Marie Saloum Tom Sella

Editor, En Negocios

Candie Guay

Steve Sprinkle

As editor of the Spanish section of In Business Magazine, Edgar R. Olivo shares

Mike Hunter

Trisha Talbot

weekly content for Spanish-preferred small-business owners in Phoenix. As a first-generation Latinx and native-Arizonan, Olivo’s upbringing was filled with similar challenges that Latino communities in Arizona face when they engage with

Kris McDonald Elizabeth Parra

Mario Vasta Elaine Verhoffi

the economy. An entrepreneur and nonprofit executive, he is leading the charge to help strengthen a diverse, inclusive and sustainable entrepreneurial ecosystem in Arizona. His work is nationally recognized for establishing programs that help advance equitable economic recovery, and increase generational wealth for Latinx/Hispanic small business owners in Arizona. “I believe today is a moment for leading big change. Business ownership is a critical means to build community and individual wealth. I hope my work will demonstrate to the Latino community that the entrepreneur ecosystem in Arizona has their back.”

Guest columns are feature articles presented as a special, limited series as well as regular, ongoing series in In Business Magazine.

Tyler Butler

ADVERTISING Operations Louise Ferrari Business Development Louise Ferrari Cami Shore Events

Amy Corben

More: Visit your one-stop resource for everything business at inbusinessphx.com. For a full monthly calendar of business-related events, please visit our website. Inform Us: Send press releases and your editorial ideas to editor@inbusinessphx.com

Guest Columnist – Social Impact

A long time corporate social responsibility practitioner, Tyler Butler is known for her expertise in creating, launching and developing successful social impact programs. Her commitment to rallying people together to make a positive difference has created sustainable signature programs empowering people to give back in a myriad of ways globally. Butler operates under the ethos of “each one teach one,” and so her contributions to In Business Magazine provide her with an outlet to share the best of what companies are doing to aid humanity. Butler looks to shed light on good corporate citizens and share stories about the magic they are creating through their generous outreach efforts.

Joanna C. de’Shay

Guest Columnist – DEI

Joanna C. de’Shay is executive director of Diversity Leadership Alliance, the premiere education training organization in Arizona dedicated to eradicating racism, bias and prejudice. DLA’s goal is to create an inclusive community where each person is equally respected and empowered. De’Shay is an avid servant leader who was born in Accra, Ghana, on the western coast of Africa to a Nigerian father and a Russian mother. An immigrant herself, she believes in being a part of the solution to disrupt systems and is on a mission to create bridges and partnerships by educating companies, nonprofits and educational organizations on the vital need for diverse voices and fresh perspectives.

Don Henninger

Guest Columnist – Metro

As a 35-year newspaper veteran in Arizona, Don Henninger has always made journalism his passion as well as his career. Facts matter — especially in this day and age — and information is the foundation that enables citizens to be positive participants in their communities at all levels. Henninger has been fortunate to serve as a community leader and continues in that role today as director of the Scottsdale Coalition of Today & Tomorrow, which convenes leaders to work on issues in that city, and as a member of several nonprofit boards in the Valley.

Bruce Weber

Guest Columnist – Capacity

Bruce Weber sees In Business Magazine as a valuable forum for topics relevant to our business and nonprofit community. “I am deeply interested in organizational capacity and what makes organizations successful and impactful in the work they do. In my work in the community for more than 16 years, I have worked with all sizes of organizations and leaders in helping their businesses grow and expand their impact. My previous careers with Microsoft and Hewlett Packard involved working with business

President & CEO Editorial Director Financial Manager Office Manager Accounting Manager

Rick McCartney RaeAnne Marsh Tom Beyer Allie Schimmel Todd Juhl

Corporate Office InMedia Company 45 W. Jefferson Street Phoenix, AZ 85003 T: (480) 588-9505 info@inmediacompany.com www.inmediacompany.com Vol. 13, No. 7 In Business Magazine is published 12 times per year by InMedia Company. POSTMASTER: Send address changes to InMedia Company, 45 W. Jefferson Street, Phoenix, AZ 85003. To subscribe to In Business Magazine, please send check or money order for one-year subscription of $24.95 to InMedia Company, 45 W. Jefferson Street, Phoenix, AZ 85003 or visit inbusinessphx.com. We appreciate your editorial submissions, news and photos for review by our editorial staff. You may send to editor@inbusinessmag.com or mail to the address above. All letters sent to In Business Magazine will be treated as unconditionally assigned for publication, copyright purposes and use in any publication, website or brochure. InMedia accepts no responsibility for unsolicited manuscripts, photographs or other artwork. Submissions will not be returned unless accompanied by a self-addressed, stamped envelope. InMedia Company, LLC reserves the right to refuse certain advertising and is not liable for advertisers’ claims and/or errors. The opinions expressed herein are exclusively those of the writers and do not necessarily reflect the position of InMedia. InMedia Company considers its sources reliable and verifies as much data as possible, although reporting inaccuracies can occur; consequently, readers using this information do so at their own risk. Each business opportunity and/ or investment inherently contains certain risks, and it is suggested that the prospective investors consult their attorney and/or financial professional. ©2022 InMedia Company, LLC. All rights reserved. No part of this magazine may be reproduced or transmitted in any form or by any means without written permission by any means without written permission by the publisher.

integration partners to design strategies to engage new markets. In today’s complex world, I enjoy exploring the possibilities and opportunities that change can bring.”

Our guest columnists are taking a break this issue. More to come from them in coming months.

JULY 2022

INBUSINESSPHX.COM

Piper Fel lowsh ip [pie-per-fel-oh-ship]

noun

1. An opportunity for nonprofit leaders to reach, retool, and revitalize. 2. A Piper Fellowship can be transformational for both the leader and the nonprofit organization. Sentence: “It gave me perspective; my Piper Fellowship was life-changing.”

July 2022 In Business Magazine is a collaboration of many business organizations and entities throughout the metropolitan Phoenix area and Arizona. Our mission is to inform and energize business in this community by communicating content that will build business and enrich the economic picture for all of us vested in commerce.

PARTNER ORGANIZATIONS Kristen Merrifield, CEO Alliance of Arizona Nonprofits (602) 279-2966 www.arizonanonprofits.org Jess Roman, Chief Executive Officer Arizona Small Business Association Central Office (602) 306-4000 www.asba.com Steven G. Zylstra, President & CEO Arizona Technology Council One Renaissance Square (602) 343-8324 www.aztechcouncil.org

Commercial real estate loans Because every detail makes a difference.

Doug Bruhnke, Founder & President Global Chamber® (480) 595-5000 www.globalchamber.org

Visit StearnsBank.com/Phoenix Call (480) 314 - 4200

Ania Kubicki , President NAWBO Phoenix Metro Chapter (480) 289-5768 www.nawbophx.org

Colin Diaz, President & CEO Tempe Chamber of Commerce (480) 967-7891 www.tempechamber.org Our Partner Organizations are vested business organizations focused on building and improving business in the Valley or throughout Arizona. As Partners, each will receive three insert publications each year to showcase all that they are doing for business and businesspeople within our community. We encourage you to join these and other organizations to better your business opportunities. The members of these and other Associate Partner Organizations receive a subscription to In Business Magazine each month. For more information on becoming an Associate Partner, please contact our publisher at info@inbusinessphx.com.

ASSOCIATE PARTNERS Ahwatukee Foothills Chamber of Commerce ahwatukeechamber.com Arizona Chamber of Commerce & Industry azchamber.com Arizona Hispanic Chamber of Commerce azhcc.com The Black Chamber of Arizona phoenixblackchamber.com Chandler Chamber of Commerce chandlerchamber.com Economic Club of Phoenix econclubphx.org Glendale Chamber of Commerce glendaleazchamber.org Greater Phoenix Chamber of Commerce phoenixchamber.com Greater Phoenix Equality Chamber of Commerce gpglcc.org Mesa Chamber of Commerce mesachamber.org North Phoenix Chamber of Commerce northphoenixchamber.com Peoria Chamber of Commerce peoriachamber.com Phoenix Metro Chamber of Commerce phoenixmetrochamber.com Scottsdale Area Chamber of Commerce scottsdalechamber.com Scottsdale Coalition of Today and Tomorrow (SCOTT) scottnow.com Surprise Regional Chamber of Commerce surpriseregionalchamber.com WESTMARC westmarc.org

JULY 2022

INBUSINESSPHX.COM

ROBERT MIGUEL, ARIZONA INDIAN GAMING ASSOCIATION

Betting on the Economy

Chairman Robert Miguel advanced his career in various roles within the Ak-Chin Indian Community, including working as a photojournalist for the Ak-Chin O’odham Runner for more than 20 years before being elected by his people to serve on its Tribal Council. Miguel serves as chairman for the Ak-Chin Indian Community and Arizona Indian Gaming Association, in addition to being on the Native American Rights Fund board of directors, the first vice president of the Inter-Tribal Council of Arizona, and as a member of the Maricopa Economic Development Association. azindiangaming.org

Gaming and sporting events go together hand-in-glove, but each stands on its own and has a long history of success here in the Valley — as an entertainment draw and an economic driver. Indian Gaming, specifically, is essential to the economic well-being of not only Tribal Nations — providing employment, education, enhanced services and economic development opportunities — but to all of Arizona. Overall, shared revenue contributions from Tribal Gaming have supported the Arizona Benefits Fund with $1.82 billion since 2003. These funds support education, emergency services and trauma care, tourism, and wildlife conservation, as well as funding to Arizona’s cities, towns and counties. As the chairman of the Arizona Gaming Indian Association, I understand how critical Tribal gaming is to the economy and am dedicated to promoting and protecting the welfare of our state by supporting Tribal gaming enterprises on Arizona Indian lands. Overall, the entertainment value of gaming venues and sports events — from the local teams that inspire fan loyalty to the major events that draw fans nationally — is a popular focus. But the economic benefits they bring to the community are impressive. In Business Magazine gets an inside look at what’s new now as well as what the future holds for these organizations. Also in this issue, cyberattacks and ransomware are high on people’s radar, but there’s another threat that may sneak in more subtly and can devastate businesses: domain hijackers. In his feature article “Domain Hijackers Prey on Business Websites,” Mario Vasta offers tips to help businesses protect themselves from fraudsters looking to hijack their clients. Businesses can also protect themselves through succession planning. In his article on the subject, Jeff Friesen discusses how a strategic succession plan can help business owners prepare for the expected — and unexpected. And Rory Carder asks us to imagine a new workplace ecosystem that puts the focus on what’s best for individuals and teams based on how they do their best work, in her article, “The Future of Work: Dynamic Environments.” In this edition, you’ll also find the “50 Top Small Business Resources Guide,” In Business Magazine’s annual top picks for services and products that businesses can’t do without. In Business Magazine recognizes these as the superstars who do so much for small business. From the opening Briefs pages filled with local business news to the final Roundtable feature on making brainstorming sessions effectively creative, with pages devoted to healthcare, technology and other pillars of business, this July edition of In Business Magazine provide relevant information to help strengthen our business community. I am pleased to help bring this to you.

EN NEGOCIOS Manténgase informado sobre temas empresariales en español a través de En Negocios, artículos para los lectores de habla hispana en el área metropolitana de Phoenix. Visite inbusinessphx.com/ ennegocios para más información. Stay informed on business topics in Spanish through En Negocios, articles for Spanish-speaking readers in the Phoenix metropolitan area. Visit inbusinessphx.com/ ennegocios for more information.

Sincerely,

Robert Miguel Chair Arizona Indian Gaming Association

We’re Not Playing Around There are many draws that have quickly made Arizona a destination for business, but our love of gaming and sporting

Photo courtesy of

events — and their success — is a clear indication that we are a

to enrich our economic development efforts in so many ways. We want to thank Robert for leading this issue and for all that

playing ground with more and more potential. Gaming has brough

he has done over the years to empower Maricopa Country and

a pastime to our tribal communities that has offered an economic

the tribal communities. His years of service are serving us all well

impact which is making a social change and funding programs that

as he leads us into a new era of economic development through

are changing life here. Sporting events like the WM Phoenix Open

gaming and passing along the benefits to better Arizona.

and NASCAR are making life here more attractive and are helping

—Rick McCartney, Publisher

DON’T MISS OUT!

Get a year of In Business Magazine Subscribe now at inbusinessphx.com

Let us know what you think of this issue of In Business Magazine. Email our publisher at feedback@inbusinessphx.com.

CONNECT WITH US: Story Ideas/PR: editor@ inbusinessphx.com Business Events/ Connections: businessevents@ inbusinessphx.com Marketing/Exposure: advertise@ inbusinessphx.com Visit us online at www.inbusinessphx.com

JULY 2022

INBUSINESSPHX.COM

SPEAKING OUT

Looking at how this plays out in the workplace, how have you used sports and/or gaming for team or morale building? Editor’s Note: This question generated input also from:

JOSH JURHILL Co-Founder and CEO Muscular Moving Men & Storage Please visit July’s Feedback entry on our website to learn from this business’s strategies and experience.

FEEDBACK QUESTION: Let us know what you want to know from the Valley’s top business leaders. editor@inbusinessphx.com

GREG HAGUE

JOHN KOBIEROWSKI

EIVAN SHAHARA

Founder and CEO 72SOLD Sector: Real Estate

President and CEO ABI Multifamily Sector: Real Estate

CEO Brightroot Inc. Sector: Cannabis

At 72SOLD, sports has played a huge role in our team morale building. Through our partnership with the Arizona Cardinals, we host fun pre-game events for our agents and employees on the Great Lawn at virtually every home game. These typically involve competitive game playing (like Foosball), music, food and various other forms of entertainment. We also have our corporate and agent team attend Cardinals games in our suite, and participate in “community give-back” partnerships with the Cardinals that involve company-wide participation. Through our partnership with the Arizona Diamondbacks, we give our agents and employees tickets, have pregame events like with the Cardinals, and even have special “72SOLD” nights like on June 13th when I threw out the first ceremonial pitch, with almost 300 of our local team in attendance. You can see that at 72Dbacks.com. For the upcoming 2023 Super Bowl in Arizona, we are working with the Super Bowl committee to have the 72SOLD team host a booth with competitive games at the Super Bowl Experience center during the week before kickoff.

Sports tends to draw a lot of Type A personalities, and so does commercial real estate brokerage. In fact, we have more than one athlete on our team. So, when we set up our new Phoenix headquarters, incorporating sports into the workplace was a natural. A basketball court in the parking lot is a convenient spot to get out on a beautiful day and shoot hoops. We didn’t want to get the usual Foosball table or ping pong table in the office, but, instead, the brokers brought in a set of kiddie golf clubs and wiffle ball golf balls, and “golfice” was born — a friendly game that builds both camaraderie and competition. Speaking of competition, a few years ago we had a client gift us a small wall-mounted basketball hoop. They asked everyone who received a hoop to submit their coolest video. Our team put together a pretty incredible video of trick shots around the office and ended up winning a trip to Hawaii! Check it out on our Instagram page @abimultifamily.

We held our first-ever Kickball Tournament at the beginning of this year. We had 16 kickball teams — each comprised of 10 players, ages 21 and up — compete for an official trophy, along with bragging rights. A portion of the tournament proceeds benefitted a local cancer nonprofit to help increase awareness of men’s health issues and promote early cancer detection. The event was not only fun, but it also was a great morale booster for not only our internal team but also for our industry. Through this kickball tournament, we wanted to help increase conversations about men’s health issues. We knew the pandemic had a profound effect on all types of cancer screenings, and that, for men in particular, doctors are seeing even more delayed screenings, which is resulting in the discovery of more advanced cancers, especially prostate. Cancer is a topic that men tend to not talk about very often, so we planned this event as an opportunity to increase important health conversations. We shared information about important preventive cancer screenings, less invasive health exams, and support resources available.

72SOLD 72SOLD.com

For all past Feedbacks go online to inbusinessphx.com and see what Valley executives think on various business topics.

JULY 2022

INBUSINESSPHX.COM

Greg Hague is founder/CEO of 72SOLD, recently recognized as the “Leading Home Selling Program in America.” Hague served as a real estate business commentator for NPR and real estate expert to The Wall Street Journal. He has appeared on more than 200 television and radio shows, was featured in Kiplinger’s book, Buying and Selling a Home; Investors Business Daily; Money Magazine; and Carolyn Janik’s book, Selling Your Home.

ABI Multifamily abimultifamily.com John Kobierowski is the President and CEO of ABI Multifamily, a brokerage and advisory services firm with offices in Phoenix, Tucson, and San Diego focused exclusively on apartment investment transactions. John is also the co-founder of Neighborhood Ventures, Arizona’s first real estate crowdfunding company, and owner of The Grid. Works co-work space in Uptown Phoenix.

Sign up for the monthly In Business Magazine eNewsletter at www.inbusinessphx.com. Look for survey questions and other research on our business community.

Brightroot Inc., parent company of Mint Cannabis themintcannabis.com Eivan Shahara is CEO of Brightroot Inc., the parent company of Mint Cannabis, which is headquartered in Arizona. Brightroot earned $9 million in revenue in its first year. The company is now valued at more than $500 million. With a nationwide network of retail locations, manufacturing/extraction laboratories and cultivation centers, the Mint is home to the nation’s third-largest dispensary and first cannabis kitchen of its kind in the country.

QUICK AND TO THE POINT

DAILIES TOP STORIES

‘In Business Dailies’ Most Views Last 30 Days Here are the stories with the most views over the past 30 days (prior to press time) that were features in our In Business Dailies. The In Business Dailies hit email inboxes twice each weekday — at 9:30 a.m. and updated at 4:30 p.m. Sign up today at www.inbusinessphx.com/dailies-signup Government & Compliance | inbusinessphx.com | June 2 2022

City of Phoenix Declares Stage 1 Water Alert and Activates Drought Management Plan City of Phoenix Due to the shortage of water on the Colorado River caused by overallocation, prolonged drought, and climate change, the City of Phoenix has declared a Stage 1 Water Alert and activated its Drought Management Plan.

Photo courtesy of Square One Concepts

Cold Beers & Cheeseburgers on Hot Streak The restaurant industry is about great food, appealing surroundings and happy customers. Recent supply chain issues have impacted the industry with availability — but mainly the actual cost — of food. We’ve been good customers for our suppliers for years; however, when our suppliers see food costs leap, it’s a challenge even for them to tell us that news. A key observation is that with our core team, we can manage almost any challenge. And, of course, it all comes down to the customer. Our customers, new and old, appreciate how hard we’ve worked to keep prices reasonable. The lesson here is to get that strong team in place; restaurateurs need to be good customers to their suppliers and create those relationships — it pays dividends during times of challenge. And always deliver on the promise to the customers. Otherwise, it all collapses. Meanwhile, we continue to pursue growth with three new locations of Cold Beers & Cheeseburgers opening this year: in Maricopa, our first in metro Tucson (Oro Valley), and Downtown Phoenix at Chase Field with the Arizona Diamondbacks. Outside Arizona, we’re looking at Dallas, Las Vegas and Nashville, and hope to be in one of those markets next year.

The Chase Field location will be a complete Cold Beers & Cheeseburgers restaurant experience — and then some. We want to make that especially clear. We will be open seven days a week to serve our customers in Downtown Phoenix, game on or not, rain or shine. We spent some time looking for the right spot downtown. It all came about as we discussed promotional opportunities with the Arizona Diamondbacks. You never know what might come out of a meeting like that. We appreciate Derrick Hall and his team championing our vision. Think of it: On game days, Cold Beers & Cheeseburgers will have live sports energy like no other spot in our system. And on non-game days, customers can enjoy the outstanding views of a major league baseball stadium. We hope it will be a destination dining experience for all our customers because, for baseball fans or any sports fan, like we are, this spot will be special any day of the week. As for our B&B Cocktail Lounge at Chase Field, that will open next year, following our first location open this summer in Old Town Scottsdale. At Chase Field, it’ll have that small, club feel, although open to everyone. Imagine sipping the world’s finest bourbon while watching a live game or simply taking in views of the stadium. —S. Barrett Rinzler, founder and CEO of Square One Concepts

Square One Concepts is also opening several new Bourbon & Bones locations, including a Bourbon & Bones Cocktail Lounge in Old Town Scottsdale that will accommodate larger private dining groups than the nearby restaurant could handle.

Legal & Regulations | Cover Story | June 2022

Your Business & the Law

Attorneys help businesses stay on top of social and regulatory changes by RaeAnne Marsh The upheaval of the past couple of years has required businesses to adapt and adopt a lot of change to survive. Some of this comes from social pressures as attitudes and habits change, and some comes from new regulatory guidelines and requirements. Commercial Real Estate & Development | Cover Story | May 2022

Our Industrial Market Is Booming! How this CRE sector is building jobs & more by RaeAnne Marsh

“We are seeing an industrial technologies renaissance, led by semiconductor companies like Taiwan Semiconductor Manufacturing Company building a massive campus in north Phoenix and Intel expanding with Fab 52 and Fab 62 in the southeast Valley that are driving a whole ecosystem of investment,” says Chris Camacho, president and CEO of Greater Phoenix Economic Council. Commercial Real Estate & Development | inbusinessphx.com | June 2 2022

Game-Changing Phoenix-Based Development Group Purchases First Property...

Thrive Development Group acquires The Shops at Apache Junction inbusinessPHX.com Thrive Development Group, based out of Phoenix, Arizona, recently purchased The Shops at Apache Junction, located at 185 W. Apache Trail. This is the commercial developer’s first commercial real estate purchase since it started in March of this year.

JULY 2022

INBUSINESSPHX.COM

QUICK AND TO THE POINT

LOOKING GOOD

Local Standouts Recognized for Achievements and Philanthropy ACHIEVEMENTS

Trevor Wilde Named a Top Wealth Advisor in Arizona Trevor Wilde, CEO of award-winning Wilde Wealth Management Group, was named to Forbes’ 2022 BestIn-State Wealth Advisors list. He was named No. 2 overall among the 110 advisors from across Arizona named to the prestigious list. This is his second year in a row earning the No. 2 overall ranking, and it came on the heels of being named to Barron’s top 1,200 advisors nationwide. wildewealth.com

Two AAED Members Named Top 50 Economic Developers in Nation Barbra Coffee, CEcD, EDFP, Economic Initiatives Director for the City of Tucson and Kelly Patton, Economic Development Manager for APS, both members of the Arizona Association for Economic Development, have been named to the 2022 North America’s Top 50 Economic Developers by Consultant Connect, a service for educational and networking events for economic developers and site selectors. aaed.com

PHILANTHROPY

Alkaline Water Company Donates Its Popular Water Phoenix Rescue Mission Alkaline Water Company, Scottsdale-headquartered producer of premium bottled alkaline water and CBDinfused products with a mission to produce sustainable options for water consumption, recently donated a pallet (1,440 bottles) of its popular Alkaline 88 water to the Phoenix Rescue Mission. thealkalinewaterco.com

Cox Donation Provides for Solar Panel Installation at Boys & Girls Clubs of the Valley As part of Cox’s plan to help 34 million people live more prosperous lives by 2034, the company kicked off its “34 by 34” social impact initiative at South Mountain Park with a $250,000 grant to the Boys & Girls Clubs of the Valley. The grant will fund the installation of solar panels at the Rosenzweig Boys & Girls Club branch in Phoenix. cox.com

Larry H. Miller Dealerships’ Donations for Arizona’s Foster Children Larry H. Miller Dealerships’ second annual “Luggage of Love” campaign provided more than $100,000’s worth of donated “comfort” kits (suitcases that contain a blanket, pillow, pajamas and socks) for foster children who are often uprooted suddenly from their homes. The caravan of cars from all of the Phoenix and Tucson dealerships delivered the kits to the Arizona Department of Child Safety in Phoenix and Tucson. lhmauto.com

JULY 2022

INBUSINESSPHX.COM

Checkers & Rally’s Plans for Explosive Growth Launches in Phoenix Checkers & Rally’s expansion plans have started to take shape with the planned openings of three new franchised restaurants in the summer of 2022 and 14 more restaurants to come by the end of 2026. Capitalizing on its small real estate footprint, double drive-thru format and ample white space to grow, Checkers & Rally’s goal is to bring its award-winning seasoned fries and Big Buford burgers to all of Phoenix and its surrounding cities. The resurgence of the Phoenix market began when longtime franchisee Bruce Ong reopened three Rally’s locations in 2019, sparking a renewed interest in new restaurant development. Joining Ong in the acceleration of the expansion plan are two additional franchise groups led by Keith Gallagher and Dan Leung. Leung’s newest location at 617 W. Bell Road in Phoenix has just opened (May 31st), joining his first restaurant at 403 N. Greenfield in Mesa that opened the year prior. Helping intensify this growth is retired U.S

Air Force Lt. Colonel Keith Gallagher, who, along with his partner Gautum Ramchandani, will open their first Rally’s in July at 7890 W. Thomas Road in Phoenix followed closely by restaurant number three for Dan and his group at 1935 W. Northern Avenue in Phoenix. “It’s been a pleasure serving the Phoenix community, and we look forward to continued success in an incredibly high growth market,” says longtime franchisee Ong, who currently operates eight Rally’s restaurants in both Arizona and California. Checkers and Rally’s operates under the Rally’s flag in the Phoenix area. With more than 800 restaurants, Checkers & Rally’s is excited to bring our innovative restaurant format with a proven track record, national presence and a strong return on investment for franchise owners. —Kris McDonald, vice president of development at Checkers & Rally’s (www.checkersfranchising.com)

Relocated Arizonans and Travelers Fuel Dispensary Growth As people continue to travel and relocate to Arizona, local marijuana dispensaries are seeing a proportional growth in sales. According to Marijuana Moment, Arizonans spent more than $1.4 billion on marijuana products in the first year it was legal. Between the legalization of marijuana last year and the rising popularity of cannabis during the pandemic, Arizona is a prime example of how the cannabis industry is exploding. Arizona has seen significant population growth since the legalization of marijuana, adding nearly 109,000 new residents last year according to Arizona Capitol Times. With this influx of new people, all retailers, including cannabis retailers, are benefiting from a larger customer pool. Since recreational use was legalized, GreenPharms, a local dispensary, reported a 14% growth at both its Mesa and Flagstaff dispensaries. The staff at GreenPharms has also reported an increase in out-of-state IDs coming through the doors. This is likely due to the influx of people moving to Arizona, as well as

Since Arizona’s legalization of recreational marijuana in November 2020, Arizona customers purchased more than $1.23 billion worth of cannabis, both medicinal and recreational.

visitors who may not have access to recreational marijuana in their own state. Not only are sales benefitting dispensary owners, but the funds for recreational marijuana use have been put back into the community. According to the Arizona Department of Revenue, from February of 2021 to May of 2022, the state has received a total of $308,473,522 in marijuana taxes. These funds support communities across the state through an education tax, state general fund and marijuana excise tax (16% on all products). Marijuana is a billion-dollar industry and is projected to have a market worth of $70.6 billion by 2028, according to a study by Grand View Research, Inc. Therefore, the cannabis industry is here to stay in Arizona and, as a dispensary owner, I am excited to see the innovation and growth in the coming years. —Marie Saloum, owner and founder of GreenPharms (greenpharms.com), a signature “deli-style” dispensary founded in 2013, with a large hybrid cultivation facility and extraction laboratory onsite

METRICS & MEASUREMENTS

Work-from-Home: Deal Breaker? Are Americans finally working to live? by Zapier team

The pandemic changed the way we work, and, as the workfrom-home lifestyle became the norm, employees began to re-evaluate their expectations for work-life balance. Many workers quit their jobs because their needs weren’t being met. It’s clear that employees don’t want to go back to the way things were pre-pandemic. So we asked the question: What’s the future of remote work? What perks do employees really want? And what will help keep employee retention high? We looked into this for our Future Of Work 2022 Report.

GOING INTO THE OFFICE IS A DEAL BREAKER

American knowledge workers want to work remotely — and they’re willing to quit their job to do so. Thirty-two percent of survey respondents say they’ve already quit a job because they didn’t have the option to work remotely, and 61 percent say they would leave their job if they had the option to accept a fully remote opportunity. Remote work is beneficial for business, too — 64 percent of survey respondents agree that remote work has made them more productive. This is consistent with how workers felt at the beginning of the pandemic when many people transitioned to working from home overnight.

Do remote work and flexible hours contribute to your happiness at work?

EMPLOYEES WANT WORK-LIFE BALANCE

Why are folks so eager to go remote? Because it makes them happy. A whopping 91 percent of respondents agree that the ability to work remotely and have flexible hours contributes to their happiness at work. And it’s not just increased happiness at work; remote work also affects employees’ lives outside of work. Almost all the survey respondents (96 percent) associate work-life balance with their happiness at work — just surpassing the next highest perk (flexible hours at 91 percent).

THE FUTURE OF WORK: THE NEXT GENERATION WILL BE REMOTE

The next generation wants to work remotely. As the younger generation advances in the workforce, these future-of-work stats make it clear that remote work will become even more prominent. Zapier zapier.com

Does having a work-life balance contribute to your happiness at work?

Yes:

91%

Yes:

No:

Remote work also affects employees’ lives outside of work. Remote work has improved their savings

61%

Remote work has given them the flexibility to

66%

attend to family life Remote work has improved their morale

Methodology: To get these remote work statistics, Zapier surveyed more than 600 knowledge workers throughout the United States who work for small and medium-sized businesses (fewer than 250 total employees). This survey was completed online using OnePoll in March 2022 and responses were random, voluntary and completely anonymous.

62%

96% 4%

Survey respondents by age who said they would quit their current role for a fully remote opportunity: Respondents ages 18-24

100%

Respondents ages 25 -34

64%

Respondents ages 35-44

65%

Respondents ages 45-54

87.5%

Respondents ages 54+

50% Source: zapier.com/blog/future-of-work-report/

For Zapier’s Future of Work study, a full 100% of respondents ages 18-24 said they would quit their current role for a fully remote opportunity.

Zapier is a leading automation platform. zapier.com

JULY 2022

INBUSINESSPHX.COM

ENTREPRENEURS & INNOVATORS

AZ Liquids – Flowing Its Juices and Coffees B2C and B2B

AZ Liquids, established in early 2021, is a fresh-pressed juice and coffee company with products for health-minded individuals. Fares Tarabichi drew on his Parisian culinary experience in establishing this company to bring freshly pressed produce to consumers, and AZ Liquids juices are now distributed in gourmet restaurants and stores across the Valley as well as online. The Arizona company is focused on partnering with local farmers as well as other Arizona staple companies such as State Forty Eight and D’lite, among others. “When the pandemic hit, the brick-and-mortar locations of my other businesses — The Crepe Club and The Bodhi — had to temporarily shut their doors. Then, I started to look for a business venture that I could sell to consumers, online, or to businesses,” Tarabichi explains. “I have always loved juicing — I regularly juice at home — so I thought a juice and coffee company would be fitting! I invested time and money into this business to develop a product that was high-quality and healthy for customers.” Although Tarabichi says he has felt the economy’s continuing labor shortages, which has impacted the company’s

ability to fulfill all orders, the company continues to grow. “Rich Melman from Lettuce Entertain You told me to ‘put your juices in people’s mouths.’ That is why we offer our juices at so many different locations across the Valley — to put our name in front of a wide variety of people,” Tarabichi says. —RaeAnne Marsh AZ Liquids azliquids.com

DON’T MISS OUT!

Get a year of In Business Magazine Subscribe now at inbusinessphx.com

JULY 2022

INBUSINESSPHX.COM

As part of the CARES Act introduced in 2020, Congress created a new tax credit known as Employee Retention Credit (ERC) to incentivize employers to keep workers on the payroll during the pandemic. Through this program, qualifying businesses can receive up to $26,000 per employee. Stenson Tamaddon launched a few months into the pandemic to aid business owners who were entitled to economic stimulus benefits that would greatly impact their company. Its team of experts delivers human resources and technology-enabled services for its clients, specializing in tax incentives to support small business research and development. This fast-growing, technology-first, locally based accounting company was co-founded by Eric Stenson and Aaron Tamaddon with a vision to hire seasoned industry professionals to provide clients with superior service, effective consultation and results. With proprietary software, their firm is able to maximize business owners’ claims more accurately than anyone else. CPAs and payroll companies turn to Stenson Tamaddon to help them file for their clients. Stenson Tamaddon not only follows

WalletHub’s 2022 study on the best places to start a business includes three Arizona cities in its top 50: Scottsdale and No. 32, Phoenix at No. 38 and Tucson at No. 41.

the CARES Act statutory language, but also closely monitors (and often responds during notice-and-rulemaking periods) to regulations related to CARES Act programs. In addition, the Stenson Tamaddon team has regularly engaged with agencies such as the Small Business Administration for formal and information guidance on unique circumstances of clients. A common misconception is that business owners missed their deadline to receive funds. If a business experienced a significant decline due to COVID-19 between March 12, 2020, and September 30, 2021 (or December 31, 2022, for employers who qualify as a recovery startup business), the owners can go back and claim an ERC for paid qualified wages for past calendar years with Form 941 or Form 941-X. To date, Stenson Tamaddon’s platform has assisted more than 2,500 businesses with $1.7 billion in economic stimulus benefit. —Elizabeth Parra Stenson Tamaddon stentam.com

Photos courtesy of AZ Liquids (top), Stenson Tamaddon (bottom)

Stenson Tamaddon: Technology-First Accounting

PROPERTY, GROWTH AND LOCATION

Sale-Leasebacks Allow Property Owners to Have Cake and Eat It, Too

Economists continue to debate whether a recession is coming, but most agree some kind of market correction is on the horizon. As a result, some business owners — especially those who own their buildings — are considering getting out while the getting is good. Having an exit strategy in mind when investing in income-producing commercial real estate is imperative regardless of market conditions, but with the Phoenix market at the height of the real estate cycle, property owners can maximize their returns through a sale-leaseback. Under a sale-leaseback, the owner sells a property to a real estate investor, then rents it from the new owner in a long-term agreement. It’s a win-win that minimizes stress for both parties: The seller enjoys an influx of cash to use in operating the business or purchasing another property, and the buyer has cash flow without having to find a new tenant.

Photos courtesy of SVN Desert Commercial Advisors (right, top), Nationwide Realty Investors (right, bottom)

WHEN A SALE-LEASEBACK MAKES SENSE

It’s an especially sound strategy for property owners planning to retire in the next 10 years — selling while prices are high enables them to receive maximum value and, when the lease expires, they can renew or vacate without concern for market conditions or finding a quality tenant. The strategy is also appealing in industries like healthcare, where a private equity firm wants to acquire a practice but doesn’t want the real estate. Physician owners can sell the practice to the private equity firm, sell the building at max value to an investor and focus on what they enjoy most: practicing medicine. Sale-leasebacks are also great for businesses looking to expand as they enable owners to take the proceeds from one property and invest in others elsewhere. However, understanding three things helps in making strategic decisions: 1. Capitalization rates: Determined by taking the property’s net operating income and dividing by the value of the asset, cap rates reflect the risk and quality of an investment. Buyers use them to gauge if the price offered is reasonable compared to other sales. Cap rates are currently on the low end, but rise along with interest rates. When they rise, valuations decrease, so it’s generally best to sell when they are low and buy when they are high. 2. Tax advantages: When structured properly with a 1031 exchange, a saleleaseback allows sellers to defer the capital gains taxes indefinitely by rolling the proceeds into one or more properties. Income-producing investment properties purchased in a 1031 exchange should be held for one to two years to be considered investments worthy of tax-deferred treatment that qualify for long-term capital gains if sold thereafter for the proceeds. The law permits investors to sell sooner, but duration of ownership can be a mitigating factor when audited. 3. Negotiating favorable lease terms: A sale-leaseback allows the seller to write in important clauses ahead of time, including no relocation, signage rights and free parking. Real estate continues to be an excellent investment, especially as people continue to flock to Arizona. But when an owner is ready to sell, consulting with an advisor who understands the owner’s investment goals positions property owners to not only favorably counter short-term market uncertainty, but also benefit long term. —Trisha Talbot, managing principal at healthcare real estate investment services firm DOCPROPERTIES (docproperties.com), a Scottsdale company that connects physicians with expansion goals to investors seeking income-producing healthcare properties

GET REAL

Land Sale Adds to the Expansion and Development of Litchfield Park The recent sale of 5.45 acres on the southwest corner of Citrus and Bethany Home roads, which traded for $2,200,000, served as a stepping stone for the area as it not only generated the highest price per square foot for land in the area but also sparked the residential development of 182 acres across the street. The buyers plan to develop a state of the art self-storage facility to accommodate the boom in planned residential developments in this area of Phoenix. “The demand for self-storage around Phoenix has been growing at rapid rate, and this location has great potential being right next to over 1,000 housing units either already developed or being developed in the area,” says Michael Tarantino of SVN Desert Commercial Advisors, who, with fellow advisors Reed Grey and Jake Rossein, worked with the sellers to find an appropriate buyer. —Mike Hunter svndesertcemmercial.com

Cavasson Continues Growth with Commitment from Meritage Homes Cavasson, a development at Loop 101 and Hayden Road in Scottsdale, recently added leading U.S. homebuilder Meritage Homes’ corporate headquarters to the strong mix of tenants that so far includes Stealth Partner Group, Sigma Company’s Bar-S Foods and Quantum Group. “This significant commitment from Meritage Homes paves the way for the next phase of office development at Cavasson, and we’re thrilled to welcome them to our world-class project,” says Nationwide Realty Investors President Brian J. Ellis. Construction of the high-profile 150,000-square-foot multi-tenant building to house Meritage’s 80,000-square-foot headquarters is now underway, with anticipated completion in fall 2023. Cavasson is owned and developed by Nationwide Realty Investors, which has been actively developing and investing in real estate in Arizona for more than 30 years. At full completion, the project’s mix of uses will include approximately 1.8 million square feet of market leading commercial office space, 1,600 residences, the full-service Hilton Hotel & Event Center, retail, restaurants and amenities. The walkable community includes beautiful landscaping, tree-lined sidewalks, plentiful green spaces and community gathering areas with ample parking. —Mike Hunter cavasson.com • meritagehomes.com

MOB MARKET ON FIRE In the medical office building market alone, Q1 sales totaled $158 million — up 163% year-over-year, with 1Q22 cap rates averaging 6.21% and representing a 115-basis-point reduction over 1Q21. docproperties.com/az-medical-office-market/

JULY 2022

INBUSINESSPHX.COM

PROPERTY, GROWTH AND LOCATION

Prop Tech Is Streamlining the Real Estate Investment Process

DON’T MISS OUT!

Get a year of In Business Magazine Subscribe now at inbusinessphx.com

JULY 2022

INBUSINESSPHX.COM

Through FlipOS, pre-existing properties are transformed into affordable single-family homes by partnering with professional home-flippers.

than existing business models and can help investors double their annual deal volume. Often, investors buy unlivable properties, and renovating them adds quality inventory to the market. These renovations are key when flipping as there are specific areas home buyers usually want upgraded — particularly the kitchen and bathrooms. When an investor partners with FlipOS, each house comes with a scope of work that provides details on what to renovate, helping flippers complete the project faster and to industry standards — and with less cash and effort. One of the hardest parts of the residential real estate market is not knowing how long a property will sit on the market and whether it will get fair market value. That can tie up investor funds when they’re paying the mortgage while the house is waiting to sell. FlipOS reduces the time to flip by 80%, so there is faster capital recycling and more revenue opportunities for the investor. FlipOS by Stoa has already seen tremendous success with its prop tech. Currently operating in major growth markets, the company plans to expand into new U.S. markets with significant housing gaps and deepen existing partnerships with the real estate community in current markets, including Phoenix. —Or Agassi and Tom Sella, co-founders of FlipOS by Stoa (flipos.com) Photos courtesy of FlipOS

High population growth areas like Phoenix are struggling to keep up with the real estate market’s demands because of low inventory. To help close the housing gap in the U.S. and bring properties to the market faster, Stoa’s iBuyer platform, FlipOS, focuses on helping professional real estate investors acquire and flip residential properties at an accelerated rate. There are more than 300,000 single-family homes being renovated each year by real estate investors. However, the current business model for getting these homes to market has a long lag time. Through innovations in property technology (“prop tech”), professional real estate investors can now add inventory to the market faster. Real estate investors face challenges in the unknown: what renovations will be needed, whether or not there will be any surprises that pop up, and how long it’ll take to close on a property. These variables can prevent them from scaling their businesses fast, and they may be unable to begin or continue projects to help meet the market’s demand. We designed FlipOS to address these challenges. On the prop tech platform, investors input addresses of qualifying homes they want to purchase or have purchased, accept both financing and upfront sales offers, and get a detailed scope of work for renovations. Stoa commits to purchasing the property and closing within five days after renovations are done. The process makes it four times faster

We don’t just see another workplace. We see an award-winning culture. At Colliers International in Arizona, we are committed to teamwork, service, expertise, and fun. Our people live these core values, providing the trustworthy foundation of client service. Colliers’ dedication to supporting our family, both at work and home, catapults our team to unparalleled levels of performance. Each team member’s commitment to client relationships takes them beyond business achievement to create a passion for shaping the future. Partner with the innovative professionals at Colliers who dream big and see what could be.

Visit colliers.com/arizona to learn more.

Bev Jensen Regional Operations Manager

Accelerating success.

MINDING THEIR BUSINESS

Kim Reedy’s Servant Leadership Serves OneAZ Well

My greatest function as president and CEO is inspiring associates to fulfill their potential

COMMUNITY IS KEY • OneAZ has its roots in serving state employees, but now membership is open to anyone who lives, works or attends school in Arizona. • A key pillar of OneAZ’s mission is giving back to the community. Since 2016, the OneAZ Community Foundation has provided $750,000 in grants and donations to Arizona nonprofit organizations that improve lives in neighborhoods across the state. • Credit unions are all about improving lives by promoting financial wellness among their members.

JULY 2022

INBUSINESSPHX.COM

I’ve been running my whole life. Long before I started a career in finance and business that would eventually lead me to OneAZ Credit Union, I ran competitively in high school, college and even after college at a nationally competitive level. That was a long time ago, but I still run each day. Most days, I start before sunrise and love to put in some miles on rolling trails. Running is one of those things you either love or you hate. Plenty of people don’t understand why I still spend mornings like that — and honestly, when it’s summer in Phoenix and the air is heavy without a hint of a breeze, I have my own doubts. But I’m always up the next morning ready to go again. I do it because, for me, running is about striving to meet your potential. When I trained competitively, the focus was never on one single mile or even how I felt after completing a day of rigorous training. If I logged a personal record on a Monday night run, it didn’t matter much to me — I knew the end goal was not about a small personal achievement in that moment, but about a potential for greater success in the future. I was driven to know how much I could give and how fast I could go! During that time of my life, I had awesome coaches and trainers. Each of them saw potential greatness in me that I wouldn’t have seen in myself, and they motivated me to push forward and realize that potential during every single training session. I carry their lessons with me each day as I lead a team of 500 associates at OneAZ. In my opinion, the greatest thing I can do as president and CEO is inspire each associate to live up to the promise of their potential. This is the essence of servant leadership — leadership focused on the growth and well-being of the people we work with every day. To achieve that at OneAZ, we are creating a model of leadership that breaks the traditional hierarchical regiments that mire many companies in creative stagnation; we recognize that leadership doesn’t always have to come from the top down. Instead, we want to empower each of our associates to be leaders within their teams, and

that means providing them with an environment in which they feel a sense of safety and belonging, one where their ideas are respected and welcomed. My goal is to unleash the collective intellect of 500 people each and every day — that is all about tapping into massive organizational resources! When I speak with our associates, I tell them I expect only one thing from them. It’s not that they meet their monthly goals for auto loans or our goals for acquiring new members. I tell them that the only thing they need to do is bring their best thinking to the office each day. Sometimes, associates — especially new associates — look at me sideways when I tell them that; it seems so simple, and it is. Yet, it’s also a challenge and I recognize that. However, I tell associates to think about the power of bringing our best thinking to work each day. If we do that, we don’t need to worry about those loan goals or how many new members we acquire each month because we’ll be living up to our mission “to truly improve the lives of our members, our associates and the communities we serve.” And if we’re improving lives each day, those outcomes will follow — guaranteed! Creating this environment of collective empowerment has led to tremendous growth for OneAZ. When I started at the credit union, one of my colleagues enthusiastically described OneAZ as the “best-kept secret in Arizona.” At the time it was true — we were keeping ourselves secret and not doing enough to get the word out about how Arizonans could benefit from banking with us. I wasn’t alone in noticing that OneAZ had so much potential. Our entire team of associates could feel it because they believed in the power of our mission. Now, the cat’s out of the bag! Arizonans are joining OneAZ and discovering the benefits of banking with a credit union in record numbers. That growth is a direct result, not of my own individual leadership, but of the collective leadership that each of our 500 associates demonstrates on a daily basis. It’s a testament to the power of what can be achieved when each of us realizes that we’re running toward greatness together. OneAZ Credit Union oneazcu.com

OneAZ Credit Union was founded more than 70 years ago as a credit union serving employees of the State of Arizona. Rose Mofford — who served as Arizona’s first female governor — was a founding member and was instrumental in spreading the word about the benefits of banking with a credit union. oneazcu.com

Photo courtesy of OneAZ Credit Union

by Kim Reedy

Do you value your investments? Let us protect what drives you!

Clean, Correct, Protect

602-363-9039 • info@prodetailaz.com • www.prodetailaz.com 4235 East Magnolia Street, Phoenix, AZ 85034

Expecting Your Organization to Win While Stuck in Reverse? Problem Solving & Innovation? Different Gear. Creative & Collaborative Mindset? Different Gear. Mental & Physical Health? Different Gear.

To the Nervous System, Chronic Stress IS Reverse. To be focused and productive, your leaders must know how to shift out of reverse and into the right gear whenever the stress of change or challenge downshifts them. Kinessage® Mindful Resilience teaches leaders to neurologically shift both their physiology and mindset to quickly return their focus to modeling and managing a healthier culture and business. Give your leaders the skills they need to drive your business forward, and ready to face the next curve with greater resilience.

Leadership Resilience Consulting & Training: C-Suite to Supervisors Kinessage LLC 602.617.9737 • www.kathleengramzay.com/contact

YOUR BENEFIT IN BUSINESS

Complete Care Concept Debuts in Surprise

Public Health Initiative from BCBSAZ In 2018, BCBSAZ launched its statewide public health initiative, Mobilize AZ, which partnered with public and private organizations to improve the health of Arizonans by tackling some of the state’s most challenging health conditions. Mobilize AZ aimed to invest in the community, increase access, build capacity, and cultivate cross-sector partnerships to inspire health.

Providing both full-service emergency room and urgent care under one roof, HonorHealth has partnered with Intuitive Health to open a dual care retail model, debuting the concept for Arizona at 12,000-square-foot HonorHealth Complete Care in Surprise. The $12-million facility offers a new healthcare experience that helps take the guesswork out of where to seek care when feeling ill or for an injury. Patients seeking care at an HonorHealth Complete Care facility are billed only for the level of services they receive rather than on the location of their care — for a savings of millions of dollars in unnecessary ER visits. Additionally, because they can access both urgent and emergency care under one roof, patients will benefit from reduced wait times — which will allow them to get the treatment they need and get them back to their lives quicker than traditional emergency room models.

In 2022, the launch of the Blue Cross Blue Shield of Arizona Foundation for Community & Health Advancement formalized BCBSAZ’s commitment to the public good and took its philanthropic purpose to the next level. As a 501(c)3, this private, nonoperating Foundation works in service of Arizona’s diverse communities and the public good by providing a structure for BCBSAZ’s philanthropic efforts. While BCBSAZ and the Foundation are separate entities, they share a commitment to inspiring health. The Foundation has already begun investing in the health of Arizona by funding programs and applied research that address Arizona’s most pressing health concerns, including: • Chronic health conditions: Identify solutions to prevent, manage, and/or treat issues like diabetes, heart disease, and cancer. • Health equity: Close disparity gaps that impact health by addressing social determinants of health such as lack of housing, transportation and access to healthy food. • Mental health: Expand statewide resources, reduce stigma and connect people to care with the goal of promoting positive mental health and saving lives. • Substance use disorder: Support prevention, harm reduction, treatment and recovery from opioid and substance use disorder to reduce overdose-related deaths. —Mike Hunter

“Dual emergency and urgent care facilities eliminate the need for patients to self-diagnose the severity of their health concerns before selecting the most appropriate medical center for care,” says Todd LaPorte, CEO of HonorHealth, a leading Valley healthcare system serving 1.6 million people in the greater Phoenix and Scottsdale area. “We are excited to partner with Intuitive Health to bring this concept to Arizona.” “This location is the first in the Valley to offer this type of care, and we’re confident that this level of customer-centric service will be welcomed by this community,” says Thom Herrmann, CEO of Intuitive Health, which was founded in 2008 and pioneered the combined emergency room and urgent care model. “Our philosophy is built on a patient-centric perspective where patients are ‘wowed’ at every point in their journey.” —Mike Hunter honorhealth.com • IHERUC.com

Private Practice Opens in Ketamine-Assisted Psychotherapy With her newly opened Ketamine Assisted Psychotherapy private practice at the Arizona Healing Collective in Mesa, Ajona Olsen, MSN, APRN, ANP-C, addresses a medical need that currently affects the nearly 50 million adults in the U.S. and more than 2.5 million youth who are suffering from mental illnesses such as anxiety and/or depression. “Post-traumatic stress disorder has also been on the rise since the start of the pandemic. Ketamine-assisted psychotherapy in conjunction with psychotherapy works to treat mental illnesses, including anxiety, depression and PTSD, on a deeper level than anti-depressants or therapy on its own. The need for this type of medical care is enormous and has grown tremendously because of the COVID-19 pandemic,” says Olsen, who began her career in healthcare in 2001 as a registered nurse in the hospital and in 2006 became a nurse practitioner and continued working in corporate medicine. “While ketamine has been around for a while, ketamine-assisted psychotherapy has recently developed in the medical world as healthcare professionals explore the benefits of psychedelics as an effective treatment for mental health from a safe, medical perspective,” Olsen says.

Explaining that ketamine-assisted psychotherapy is best effective at treating mental health conditions when it is working in conjunction with psychotherapy or psychiatry, Olsen says her KAP private practice will work side by side with a local therapist or psychiatrist her client may already be working with. “Ketamine and specifically ketamine-assisted psychotherapy will be used as a tool to help the client perform deeper work that would allow more rapid healing to occur.” Olsen foresees growing into a practice model that combines medical and psychotherapy treatments at the same practice, in which the prescriber will do the medical exam and administer the ketamine medication while the therapist sits with the client during the KAP session; integration pre- and post-session with talk therapy would happen all in one practice. “I do think it would remain open, however, if a client has an established rapport with their therapist, then they would certainly use my clinic for the KAP session and follow weekly with their own therapist, which is the model I currently practice now.” —Mike Hunter Ajona Olsen NP ajonaolsen.com

azblue.com azbluefoundation.org

JULY 2022

INBUSINESSPHX.COM

Ketamine has been approved by the Food and Drug Administration (FDA) for medical use as an anesthetic since 1970. Ketamine is safe for use in people within a wide age range when taken correctly and in medical settings.

Photo courtesy of Blue Cross Blue Shield of Arizona

WELL WELL WELL

AZBLUE.COM

678790-20

LIFE CAN CHANGE PRETTY QUICKLY. LET US HANDLE THE OTHER STUFF, SO YOU DON’T MISS WHAT MATTERS MOST.

INNOVATIONS FOR BUSINESS

TECH NOTES

A Nervous System for Robots RoboSkin is a line of skin-like coverings for tactile awareness for humanoid robots and prosthetics created by BeBop Sensors, Inc. the world leader in smart fabric sensor technologies. A true nervous system for robots at less than 1mm thick, RoboSkin is the only technology that fits all robotic body parts — limbs, fingers, feet, head and torso — to make robots “feel” better. RoboSkin’s advanced fabric-based sensor skin can be shaped to any surface, allowing quick tailoring to fit any robot, human abilities for a true partnership between humans and their robot helpers. Advances in robotics, such as vision and listening, are missing a key element — the sense of touch, essential for practical human/ robot interaction. Flexible, reliable and highly proprietary, BeBop Sensors’ RoboSkin provides this essential touch factor, with technology based on BeBop’s fabric sensors, with millions of sensors in daily use throughout the world and more than 30 U.S. and international patents. “I have been working with roboticists refining our RoboSkin for 10 years. We are pleased we can make this important contribution to the worldwide effort to bring humanoid robots into our lives to help people live longer, healthier, and more enjoyable lives,” says Keith McMillen, founder of BeBop Sensors. The Census Bureau predicts that, for the first time ever, there will be more Americans over the age of 65 than under 18, with Japan having the oldest population at 30% over 65. In addition, “The Great Resignation” shows no sign of slowing down, with record numbers of people leaving the work force. Human-like robots are stepping up to this urgent need, augmenting humans in the workplace, hospitals and homes; with roles in healthcare, as domestic help, in manufacturing, distribution, biohazards and even in entertainment and companionship roles. —Mike Hunter bebopsensors.com

JULY 2022

INBUSINESSPHX.COM

Online: Micro-Influencers Expand Company Reach Micro-influencers are defined as online creators with between 10,000 and 75,000 followers. The reason it’s a good idea for small businesses to partner with this tier of influencers comes down to a few factors: engagement rate, collaborative partnerships and click-thru capabilities. Microinfluencers tend to be a perfect fit for brands of every kind and size because they have enough experience to create high-quality, professional content, yet they’re still in a stage of growth that allows for maintaining a highly engaged community. Micro-influencers are also a great option if a business is looking to expand to a hyper-local market and get noticed by untapped audiences. Seeing as their following is smaller than the traditional celebrity macro-influencer, their audience tends to be more highly saturated in certain geographical locations, thus giving businesses a leg up in that specific region. Leveraging micro-influencers to promote a business will help to not only increase overall brand awareness across the board but will also diversify the content portfolio for a much more cost-efficient price. These influencers have a unique brand that they’ve spent time zeroing in on and crafting to create content that resonates with

their audience. It’s a great opportunity to generate content that goes against the grain of what a business typically creates to cater to an audience that the business otherwise might not have come across on their own. The influencer audience is always a big selling point when it comes to activating these kinds of partnerships. Influencers, specifically on the micro-scale, have spent copious amounts of time building trust, loyalty and overall credibility with their audience. This makes them a go-to source for all things having to do with their specific niche. It’s taking word-of-mouth marketing to an entirely new, and more cost-efficient, level. While cash compensation is the name of the game these days, micro-influencers are often flexible and can include some sort of trade agreement that could help to lower the cash compensation by a decent amount. They’re often willing and able to make a campaign work within a budget that’s mutually beneficial to both parties, especially if the campaign is something that aligns heavily with the personal brand that they’ve crafted for themselves. —Candie Guay, cofounder and creative director of Scottsdale-based Envida (www.envida.com), the nation’s leading multifamily creative agency

RoboSkin is available for a variety of applications in robotics and prosthetics, including biohazard, digital health, IoT, VR/AR, automotive, law enforcement, testing, and more. See the video at youtu.be/BWBUhcbEE50. bebopsensors.com

Photo courtesy of BeBop Sensors (left)

with spatial resolution and sensitivity that exceeds

Lastassia “Lady La” Eidson Founder of Mahalo Made, Member since 2013

Next Level Banking for your business is here. Seamlessly transition between your desktop and smartphone to access your business accounts wherever you are, whenever you want. With the new OneAZ Mobile Banking app, you get access to enhanced features, including:

Account Management

Payment Scheduling

Business Credit Card Controls

Serving over 10,000 Arizona businesses. Connect with a OneAZ business banker at OneAZcu.com/Business.

Insured by NCUA Data rates may apply.

Merchant Services

Cash Management

ARE YOU

GAME? Gaming and sporting events are a ‘big win’ for our economy by RaeAnne Marsh Gaming and sports have gone together for a long time; the new trend in sportsbooks brings it out of odds-makers’ back rooms and into prominent display.

Caesars Sportsbook at Chase Field; courtesy of Caesars Entertainment

Phoenix Rising FC game at the Wild Horse Pass Stadium in Phoenix; courtesy of Phoenix Rising

The 2019 Fiesta Bowl game; courtesy of Fiesta Bowl

Cactus League game at Camelback Ranch in Glendale; courtesy of Cactus League

Casino floor at Harrah’s Ak-Chin; courtesy of Harrah’s Ak-Chin

A POWERHOUSE PUNCH ON THE ECONOMY “With nearly $2.8 billion wagered, the positive economic boosts from regulated sports wagering have been vast and should only trend upward as the market matures,” says Christopher Boan, analyst with BetArizona. “Sports wagering has contributed more than $8 million to state coffers, bolstering the economic impacts of COVID-19.” While the Department of Gaming does not release demographics on bettors, a survey conducted by BetArizona ahead of the market’s launch showed that nearly 22%, or one in five, Arizona adults were planning to place bets in the legal market. Boan believes this signals that Arizona residents, visitors and even those in neighboring states without access to legal betting — and he names California, Utah and New Mexico — are placing wagers in the state. “It has been over a year since Governor Ducey signed historic legislation expanding gaming in Arizona and I am pleased with results so far,” says Ted Vogt, director of the Arizona Department of Gaming. Noting that in 2021, gaming contributed nearly $130 million to the state and its cities, towns and counties, Vogt says, gaming in the state has a significant economic impact: “Tribal casinos and legal event wagering promote Arizona as a top tourist destination while supporting nearly 40,000 jobs.” And Vogt reports that, since the start of legal event wagering (aka sports betting) on September 9th, 2021, there has been approximately $2.8 billion wagered in Arizona and $22 million in licensing and privilege fees contributed to the state general fund. Regarding tribal gaming specifically, Vogt cites a 2016 study from the American Gaming Association in reporting that Arizona’s tribal casino gaming industry has an economic impact of $4.75 billion and supports nearly 40,000 jobs. He points out that Indian gaming not only provides dollars critical to promoting tribal economic development, but tribal contributions from gaming directly support instructional improvement for schools, trauma and emergency care, tourism and wildlife conservation, through the Arizona Benefits Fund. Since 2003, the tribal gaming industry has contributed more than $1.8 billion to the state and its cities, towns and counties. In FY2021 alone, Tribal contributions from gaming revenue to the state, cities, towns and counties totaled $110,390,007.

With a presence that is greatly expanded since Arizona’s first permanent casino — Casino Arizona — opened in 2000, there are currently 16 Tribes operating 24 Class III facilities offering gaming that includes gaming devices, table games and keno. Robert Miguel, chairman of the Ak-Chin Indian Community who came on board to help lead this July edition of In Business Magazine as its Guest Editor, is the newly elected chair of the Arizona Indian Gaming Association. Noting that, in 2021, Tribal Gaming employed more than 20,000 Arizonans, Miguel says, “This industry has been the most successful economic venture of Tribes in Arizona and nationwide. As chair, I am dedicated to upholding the organization’s commitment to advancing the lives of Indian people and helping achieve their goal of self-reliance.” Says Treena Parvello, director of government and public relations for another AIGA member, Tohono O’odham Gaming Enterprise, “The extraordinary success of tribal gaming traces back to the vision and determination of tribal leaders from the Tohono O’odham Nation and across Arizona. Gaming is funding critical programs on tribal lands, creating jobs, and providing other benefits. Tribal gaming has also had enormous positive impacts for the state and local communities. “The Tohono O’odham Gaming Enterprise, with nearly 40 years in the industry, has grown into an economic engine operating four Desert Diamond Casinos in two markets. With over 2,800 team members, and more on the way, Desert Diamond Casinos offers world-class entertainment while all revenues go to vital programs on the Tohono O’odham Nation. We are also proud to partner with hundreds of vendors across Arizona and to be a leading supporter of nonprofit programs in our communities.” Much newer on the scene is Caesars Sportsbook, although its senior vice president of retail operations, David Grolman, notes that Caesars Entertainment has operated in Arizona for more than 25 years. “We’re proud of the economic impact we’ve generated in the state,” he says, emphasizing, “The launch of Caesars Sportsbook in September 2021 provided us another opportunity to contribute to the economy in Arizona and connect with even more Arizonans. When you combine Caesars Sportsbook with the legacy of Caesars’ premium entertainment experiences, it’s a special equation for us.” The granddaddy of our sporting events benefitting our economy is the Phoenix Open, now the WM Phoenix Open. Presented by the Thunderbirds, an organization founded in 1937 with the mission of promoting our Valley through sports, the Open has contributed more than $165 million just in charitable contributions from 1932 through 2021. Since 2010, when Waste Management became the title sponsor, the tournament has raised Casino floor at Harrah’s Ak-Chin; courtesy of Harrah’s Ak-Chin

JULY 2022

INBUSINESSPHX.COM

Cactus League game at Camelback Ranch in Glendale; courtesy of Cactus League

nearly $100 million for local charities. And the overall economic impact is more than $400 million. Impressive? Yes; in fact, the positive economic impact of the WM Phoenix Open is one of the largest for any golf event nationwide. NASCAR has been seeing its fanbase growing. In fact, Phoenix Raceway opened in 1964, and its president, Julie Giese, says, “We just announced the earliest NASCAR Cup Series Championship Race sellout in our sport’s history. That wouldn’t be possible without the outpouring of support the community and our fans continue to show for events at our facility. They continue to make Phoenix Raceway a must-visit sports and entertainment destination, and our dedicated team will continue their tireless efforts to deliver a championship-caliber experience that our race fans will remember for years to come.” Phoenix Raceway hosts two marquee NASCAR Cup Series weekends each year and is the home of NASCAR Championship Weekend in November. “Those events fuel an economic impact that surpasses $450 million, as residents and tourists alike enjoy the thrill that only NASCAR racing provides,” Giese says. She cites compelling reasons for the robust economic impact. “With more than 5,400 campsites throughout our 300-acre-plus GEICO Gecko Campgrounds, many of our fans arrive on property the Monday of race week and stay through Sunday’s action. That generates a boost to businesses throughout Avondale and the entire Valley during March and November.” The Fiesta Bowl also declares a mission to create a positive economic impact for Arizona. While that impact takes many forms, Fiesta Bowl Board Chair Randal Norton notes it is primarily in the hospitality and tourism industry, including hotels room nights, rental cars, restaurants, exhibits and the many amazing attributes that Arizona has to offer. “When fans and tourists travel in town for the Fiesta Bowl and Guaranteed Rate Bowl, they also take in outdoor activities like hiking and golf as well as partake in the amazing restaurants, unique adventures and excursions to many Arizona destinations,” Norton says. “During Bowl Season, we easily deliver more than 7,000 hotel room nights annually to properties across the Valley.” According to Norton, Fiesta Bowl events over the past 13 years have driven more than $3 billion in economic impact to the state. “And we continue to prioritize positive economic impact and experiences in the events we stage and for fans, community and the universities that participate in our Bowl games. The Fiesta Bowl has been interwoven in our community for more than 50 years, be it community engagement, charitable giving, hospitality, volunteerism and delivering fan-friendly events that benefit The Valley and the State of Arizona.” Predating Fiesta Bowl by 24, Cactus League has been an important driver in Arizona’s tourism economy since 1947.

INBUSINESSPHX.COM

Executive Director Bridget Binsbacher shares, “In 2018, the last full season studied, an ASU study reported that the Cactus League generated $644.2 million in economic impact and $373 million for Arizona’s Gross Domestic Product. ASU researchers called the Cactus League a ‘mega sporting event’ on par with the Super Bowl — but one that happens every spring.” While those numbers declined during the 2020 COVID-shortened season, they were still strong considering the all the restrictions we were experiencing at the time: $363.6 million in economic impact and $213.7 million for Arizona’s Gross Domestic Product. “About six in 10 Cactus League fans come from out of state, and most say it is the sole or primary reason for visiting Arizona, according to multiple ASU studies,” Binsbacher says. “Our fan base stretches across all four U.S. time zones — from Cleveland to San Diego and Cincinnati to Seattle.” She notes it is an incredibly loyal fan base, as the 2018 study found that more than a third of all Cactus League fans had been attending spring training in the desert for at least five years. “While all 10 Cactus League ballparks are in Maricopa County, there is a statewide benefit,” Binsbacher continues. “Nearly a third of out-of-state fans said they would visit another part of Arizona during their trip, according to the 2020 ASU study.” Cactus League teams — with the notable exception of the Arizona Diamondbacks — have their home base in other cities. But Phoenix is home to sports teams in all the major professional leagues. The newest addition to our roster is Phoenix Rising, launched as Arizona United Soccer Club in 2014 and rebranded to its current name in 2017. And it is increasing its presence. Says General Manager Bobby Dulle, “Phoenix Rising FC increased its stadium capacity from 6,000 to 10,000 in 2021 by moving to Wild Horse Pass in Chandler.” And he reports that, despite operating at reduced capacity due to COVID-19 for the first three months of last season, Rising enjoyed its highest single-season attendance and is on pace to surpass that total in 2022. “The increase in attendance and exposure led to Phoenix Rising having a greater economic impact in Chandler and the Gila River Indian Community’s Wild Horse Pass.”

JULY 2022

CREATING NEW AND UNIQUE EXPERIENCES Bobby Dulle, General Manager of Phoenix Rising, says the team has seen an increase in families among its fanbase since moving to Chandler last year. Accordingly, Rising plans to roll out something new this year, thanks to its partners at Northern Arizona University: the NAU family four pack. “Families can attend a match for an affordable rate and have their food, beverages and parking all included for $80.” Giese credits much of Phoenix Raceway’s current success to the investment made in the venue’s fan experience. Phoenix Raceway completed a $178 million renovation in 2018 that transformed its one-mile racetrack into a world-class sports and entertainment destination. “We reimagined the NASCAR fan experience from top to bottom, with new seats and amenities that brought them closer to the action than ever before,” she says. “Take, for example, our FanShield Infield Experience,” Giese continues. “It allows race fans to walk directly inside the garages as the world’s top drivers and mechanics prepare their state-ofthe-art race cars. Allow me to put that in perspective for you: On NASCAR Cup Series Championship Sunday, this is the equivalent to walking through your favorite football team’s locker room hours before the Super Bowl. No other sport can boast such access and it sets us apart on so many levels.” The Raceway also put in a pedestrian tunnel dubbed the “Tunnel of Triumph” that connects the FanShield Infield Experience with the Midway. As Giese eagerly explains, “As they stroll through the tunnel, our fans are treated to a multimedia display that pays homage to the history of our sport and Phoenix Raceway. Fans can stop and have their picture taken next to plaques of all the NASCAR Cup Series winners in Phoenix Raceway history. “Once inside the Midway, fans are presented signature dining options, compelling entertainment and interactive displays for the whole family.” The cornerstone of that Midway is The Barn brewed

by Busch Light, a world-class party destination that features live music, entertainment and appearances from NASCAR Cup Series drivers past and present. When NASCAR isn’t in town, Phoenix Raceway remains a vibrant and active sports and entertainment destination. Thanks to Relentless Beats, it has become a top Valley concert venue that features some of the world’s top Electronic Dance Music acts and shows, including the popular Phoenix Lights festival. These shows have introduced Phoenix Raceway to an entirely new demographic, and Giese believes that would not have been possible without the investment in the overall fan experience. Additionally, Giese says, “We’ve also become home to the popular RideNow Off-Road Expo, which is coming back Oct. 15-16. And our facility is now the host of Arizona Tough Mudder and Spartan races which are popular events for endurance athletes in The Valley and nationwide.” The Fiesta Bowl can proudly claim credit for many innovations since its inception in 1971, although many can’t be categorized as unique anymore since they have been so widely adopted. Norton notes the Fiesta Bowl was the first major bowl game to have a title partner, create a national championship college football game, develop a program to financially support teachers across the state, sponsor diversity programs and scholarships and deliver the highest annual charitable giving of any Bowl organization. He points out the Fiesta Bowl has had success in using dozens of non-football events, such as the Section 7 Basketball Tournament, as ways for companies to integrate with the Fiesta Bowl organization, the community, fans, beneficiaries and partners. “These,” he says, “are just a few examples of why The Fiesta Bowl Is More Than Just a Game®.” Binsbacher points out that Cactus League, in recent years, moved up its season opening to mid-to-late February. “Many

NASCAR race at the Phoenx Raceway; courtesy of Phoenx Raceway

JULY 2022

INBUSINESSPHX.COM

Caesars Sportsbook at Chase Field; courtesy of Caesars Entertainment

out-of-state visitors pour into Arizona during spring break, so the early start means there are often plenty of tickets available for local residents,” she explains. As a spring training center, Cactus League is virtually unique to start with, as there is only one other spring training location in the country. But additionally, says Binsbacher, “I believe that part of the charm of the Cactus League is that all 10 ballparks are unique — and they’re all within an hour’s drive of each other, so visiting fans can easily sample numerous parks on one trip. That’s a big difference from Florida’s Grapefruit League, which has spring training sites all over the state.” Derrick Hall, Diamondbacks president and CEO, shared with us news that has since become hot headlines locally: “The Diamondbacks and Caesars recently opened not only the largest freestanding sportsbook in Arizona, but also the largest retail sportsbook in a major sports stadium in the country. Visitors are also treated to Guy Fieri’s DTPHX Kitchen + Bar at Caesars Sportsbook, the first-ever full-service restaurant by the worldfamous chef. The combination of the premier sportsbook in Arizona and the Guy Fieri-concept restaurant makes the new downtown venue a must-visit destination.” Speaking with us in May about the sportsbook, Grolman said, “Our offerings continue to evolve as we strive to deliver on the promise of treating all of our customers like royalty. With Caesars Sportsbook, we’re constantly improving our tech offering and looking at ways to leverage our great partnerships, like the one we have with the Arizona Diamondbacks, for unique experiences that our sports bettors can enjoy. Our sportsbook is the only one in the state that provides unforgettable experiences through the best customer loyalty program in the U.S., Caesars Rewards. The unmatched experiences that our customers enjoy will culminate with the opening of Caesars Sportsbook at Chase Field, complete with a Guy Fieri restaurant concept.” Sports betting was authorized in Arizona in April 2021. Regulations were adopted by the Arizona Department of Gaming in June 2021 and sports betting was first offered live in Arizona in September 2021, commencing with the start of the National Football League season. Sports betting was authorized as part of a comprehensive “modernization” of the Tribal-state compact, which addresses Tribal Government Gaming in Arizona. Under the Indian Gaming Regulatory Act, sports betting is considered a Class III game because it is house banked, putting it in the same category as slot machines, blackjack and betting on horse races. Sports betting is offered both on-reservation at Tribal casinos and off-reservation through mobile wagering, at select retail

INBUSINESSPHX.COM

outlets located in or near qualifying professional sports venues, and at limited event wagering operations offering off-track betting or horse racing. AIGA expects the newly authorized games at Tribal casinos will also enhance the patron experience. New games such as baccarat, roulette, craps, sic bo, dealer controlled electronic table games, event wagering (sports betting), and fantasy sports contests will provide Tribal casinos with the opportunity to match the Las Vegas experience and atmosphere. Vogt reports that, five months after commencement of sports betting, Arizona surpassed the $2 billion mark in all-time handle, making it one of the fastest states to accomplish the feat. “This hot start to sports betting in the state has helped establish Arizona as a top-ten market nationally,” he says. The Arizona Department of Gaming announced in June that event wagering levels had skyrocketed in March, resulting in an approximate 40% increase in handle when compared to the February handle. Figures that became available for that month showed event wagering operators accepted more than $690 million in wagers during March, resulting in approximately $1.7 million in privilege fees being contributed to the state. “March was an exciting month for Arizona event wagering, with major sporting events like NCAA’s March Madness helping set a single month event wagering handle record,” Vogt says. “I look forward to seeing how the industry continues to develop as we finish out the first year of legal event wagering in the coming months.” Looking at the industry overall, Boan says, “Arizona’s unique success can be largely attributed to the diverse offering of betting platforms. The state is able to offer so many options due to the large number of licenses awarded to both tribal and non-tribal entities, such as sports teams. With arena kiosks, mobile apps and retail sportsbooks, Arizona bettors have plenty of access to make safe, regulated wagers.”

JULY 2022

BETTING ON CHANGES TO COME “We can expect Arizona’s sports betting scene to see continued growth through the addition of retail and mobile operators at various casinos and sporting venues in the state,” says Boan. “The market will likely cool off over the summer, as we see in nearly all markets, before picking back up this fall for NFL and college football, establishing Arizona as one of the top five markets for sports betting in the country, behind only New York, New Jersey, Illinois and Nevada.” Grolman, however, speaking in May, saw summer as a hot time. “This summer couldn’t be more of an exciting time for our presence in Arizona as we look forward to opening a state-of-theart 20,000 square foot restaurant and sportsbook concept — Guy Fieri’s Kitchen + Bar at Caesars Sportsbook. The new venue, adjacent to Chase Field, home of the Arizona Diamondbacks, will raise the bar for what a sportsbook and restaurant can be. Guy Fieri’s Kitchen + Bar at Caesars Sportsbook will be a place for more than just sports fans and we’re thrilled to invest in Arizona to bring an elevated venue to the downtown Phoenix area with our partners the D-backs.” Hall emphasizes that the goal of the Diamondbacks organization, year-in-and-year out, is to give its fans the best experience and multiple entertainment options, and believes the partnership with Caesars Entertainment raises the bar to another level with the opening of Caesars Sportsbook at Chase Field. “The

sportsbook and restaurant showcases the D-backs’ investment in downtown Phoenix, and will serve the community, along with its visitors, as a new fun and clean entertainment venue,” Hall says. “The new joint venture, which has created numerous year-round jobs, will draw sports bettors and non-sports bettors to this bestin-class space.” AIGA will be celebrating this year the 20th anniversary of the passage of Proposition 202. Prop 202 was passed in 2002, allowing Tribal Gaming to continue on Tribal lands and enabling non-gaming Tribes living in remote areas of the state to benefit from gaming revenue. It also established the Arizona Benefits Fund, providing a system for a percentage of shared revenue to benefit Arizona. As discussed previously, passage of new legislation on April 15, 2022, also allowed for the 2021 Amended Tribal-State Gaming Compacts to include new gaming activities. AIGA is looking forward to soon reaching $2 billion in total revenues contributed to the State of Arizona. These revenues will continue to benefit education, trauma and emergency services, wildlife conservation, tourism and cities, towns and counties throughout the state of Arizona. The current Tribal membership of Arizona Indian Gaming Association includes Ak-Chin Indian Community, Cocopah Indian Tribe, Fort Yuma Quechan Tribe, Kaibab Band of Paiute Indians, San Carlos Apache Tribe, Tohono O’odham Nation, White Mountain Apache Tribe, and Pueblo of Zuni. And recently, AIGA re-opened its Associate Member Program, inviting businesses to join and put their name and business in front of Tribal leadership, decision-makers and casino management in support of Tribal gaming, also offering them opportunities to meet with Tribal leaders and network with casino executives, among other benefits. And Vogt reports that the Arizona Department of Gaming recently completed an event wagering rulemaking review and published the final version of the rules. “In the coming months,” he says, “several locations throughout the state will begin retail event wagering operations at their facilities, further expanding legal betting options for Arizonans.” Ahead of the soccer season now in play, Dulle told In Business Magazine that Phoenix Rising

Phoenix Rising FC game at the Wild Horse Pass Stadium in Phoenix; courtesy of Phoenix Rising

JULY 2022

INBUSINESSPHX.COM

WM Phoenix Open; courtesy of TPC Scottsdale

had attracted a record number of sponsors for this 2022 season, which he credited to “the growth and increased atmosphere at our games.” Phoenix Rising Stadium at Wild Horse pass nearly doubled the franchise’s capacity. Other improvements, thanks to investment from the Gila River Indian Community, are expedited ingress and egress, an additional training field for the pro team and academy, an onsite front office and a duel-sided video board. For Cactus League, anticipation of the next season is also high. Acknowledging that the past three years were a trying time for the League’s host municipalities and stakeholders in Arizona’s spring training industry, Binsbacher says, “In baseball, there is a saying: ‘Wait ’til next year.’ With a new collective bargaining agreement in place, we are all hoping for a return to normal in 2023 — the first ‘normal’ season in four years.” Giese notes Phoenix Raceway has already had the honor of announcing that NASCAR Championship Weekend will return to here in 2023. This, she says, “is proof positive that NASCAR racing is alive and well in the Valley.” Continually looking at ways to expand its camping capacity to meet what Giese terms “the torrid demand,” the Raceway is expanding into the glamping space to provide fans with highquality, turn-key options that don’t require a camper or motorhome. “What’s more,” Giese says, “we’re planning for accelerated growth in the live music space after seeing the tremendous success of the Relentless Beats shows. The support we are seeing here is reinforcing our reputation as a top-notch sports and entertainment destination, and we can’t wait to see what the future holds for us here.” Giese is also excited about the growth potential of sports gaming, noting that in 2021, Barstool Sportsbook became the exclusive sportsbook of Phoenix Raceway and began offering access online in the State of Arizona. “This initiative has furthered

INBUSINESSPHX.COM

our mission of redefining the way we engage with fans and connect with new audiences.” Long-term plans include building a physical sportsbook on property as Phoenix Raceway continues its growth across multiple areas. “Most importantly, we’ll continue to provide the high level of service and engagement that Phoenix Raceway guests have come to expect and deserve,” Giese says. “We host major events in a region that’s synonymous with major events, and we look forward to raising the bar in the years to come.” Speaking from a strategic standpoint, Norton says Fiesta Bowl is looking at what is expected to be a dynamic future for collegiate Bowl Season organizations and how the Fiesta Bowl positions itself to elevate in college football as well as within the community. “We are involved in discussions with our partners and stakeholder to help shape and support the future, which most likely will include a playoff expansion, more immersive fan experiences, evolving technologies and customer demands,” Norton says. “Our goal is to secure our position as the top bowl destination in the nation and to deliver an exceptional experience at every interaction. “Our evolution and adaptation will enable us to continue to drive economic impact and positively influence our communities.” Arizona Department of Gaming gaming.az.gov Arizona Diamondbacks mlb.com/dbacks Arizona Indian Gaming Association azindiangaming.org BetArizona betarizona.com Cactus League cactusleague.com Caesars Sportsbook caesars.com/sportsbook-and-casino Fiesta Bowl facebook.com/FiestaBowl Phoenix Raceway phoenixraceway.com Phoenix Rising FC phxrisingfc.com WM Phoenix Open wmphoenixopen.com

JULY 2022

LAW MATTERS TO BUSINESS

Domain Hijackers Prey on Business Websites

Businesses can protect their websites from fraudsters looking to hijack their clients by Mario C. Vasta

Mario C. Vasta is an attorney at Fennemore focusing his practice on civil litigation where he represents clients in domestic and international intellectual property matters. These include trademark cancellation and opposition actions, counterfeiting issues and litigation relating to trademarks, copyrights and trade secrets. fennemorelaw.com

JULY 2022

INBUSINESSPHX.COM

Today, it’s relatively easy to have a professional-looking website that inspires confidence and drives customers to one’s company. If a particular domain name is available, a business needs only use an internet domain registrar to make it its own. Unfortunately, the ease of registering a domain name comes with a price: It can allow fraud to proliferate. For example, imagine you run a home security company. You have a website: TheBestSecurityCompany.com. By virtue of owning this domain name, your employees can use email addresses with “@TheBestSecurityCompany.com” as the suffix to communicate with customers regarding many subjects, including billing. One day, you realize one of your oldest customers failed to pay an invoice, and you reach out to the customer and find out that she believes she already paid the invoice. The customer tells you three weeks ago she received an email from Jane, your company’s billing clerk, providing new account information for payment of the invoice. As a result, the customer sent Jane electronic payment to that new account. You are stunned. Your company has not sent out new billing information. You discover that the customer had not been contacted by your billing clerk, but rather the customer had received an email from “jane@TheB3stSecurityCompany.com,” where a “3” had been substituted for an “e” in the domain name. Your customer was scammed. But you don’t want to make this loyal customer pay twice, so your company eats the bill. You realize several of your customers are also late on payments this month, so you make more calls. Other fraudsters attempt to use your business’s reputation and relationships to obtain goods on credit. Let’s say your

Typo-squatters can take advantage of a business and its customers by registering confusingly similar domain names.

hypothetical home security company (referenced above) orders certain technology products from a vendor, Security Supply, throughout the year. One day the vendor receives an email from “john@TheBestSecurltyCompany.com;” this time the “i” in “security” is replaced with a lowercase “L” in the domain name. Unfortunately, the vendor doesn’t notice the difference. The email asks for an order of certain products to be delivered to a specified address. Relying on your genuine company’s good credit, the vendor fills the order and ships the goods with 30-day payment terms. Of course, payment never arrives but the fraud is not discovered until after 30 days — the goods are lost. The vendor suffers damage in association with your company’s name, potentially tarnishing your relationship. There are countless similar scams where typo-squatters can take advantage of a business and its customers by registering confusingly similar domain names. Nefarious actors may create websites that look nearly identical to a legitimate business and purport to sell its products or services, perhaps at a steep discount. When a would-be customer attempts to order from the fake website thinking it’s genuine, and no goods are sent in return for the payment, that business’s reputation is sullied, potentially leading to bad reviews of the genuine business.

TRADITIONAL REMEDIES MAY NOT WORK

What options does a business have to stop these bad actors? Although fraud is a crime and complaints can be filed with the authorities, it is rare that a victim would receive satisfactory or timely resolution. Even normal civil litigation may not be a good option unless the victimized business

BETTERING YOUR BUSINESS knows the identity of the perpetrator and how to find that person. Even then, it may face significant legal fees. Unfortunately, it has become increasingly difficult to identify the person or company that owns a particular domain name. As a result of the evolution of privacy laws, including the European Union’s General Data Protection Regulation (GDPR), tools like the Whois search site (www.whois.com/whois) now provide very little help. The websites that register the domains, known as registrars, will usually not provide any information due to the privacy rights of their customers. It is difficult to file a lawsuit when one does not know whom to sue. Although obtaining the identity of the registrant by issuing an early subpoena to the registrar may be worth doing in certain circumstances, a response from the registrar might reveal only that the domain was registered with a fake identity or by an overseas actor. All the while, the legitimate business’s customers continue to fall victim to the fraudulent website, it continues to lose business, and its goodwill suffers as defrauded customers associate it with a scam.

EFFICIENT AND PRACTICAL WAYS TO FIGHT BACK

Fortunately, there are other routes to stop users of misleading domain names by using a company’s trademark rights. Nearly all companies will be able to claim trademark rights so long as they are using a non-generic name, mark or logo in commerce to identify the company as the source of goods or services. The trademark need not be formally registered, although a formal registration grants broader rights. Most businesses use their trademark (e.g., their name) as part of their domain name. Accordingly, a company can use trademark rights to protect its domain name. Even without knowing the identity of the “real” party that owns the offending domain name, the Uniform Domain-Name Dispute Resolution Policy (www.icann.org/resources/pages/help/dndr/udrp-en) is likely available to bring some resolution to the situation in a short time frame and at a relatively low cost. The UDRP provides a straightforward procedure for transferring an offending domain name into ownership and control by the trademark holder — or to cancel a domain altogether. The policy is implemented through arbitration and is handled online. A trademark holder can file a complaint to show that the offending domain name is confusingly similar to the holder’s trademark, that the domain name registrant has no legitimate rights to use the domain name, and that it has been registered and used in bad faith. The UDRP process sometimes produces results with lightning speed — getting a website removed in as little as five days from the date of filing. Even when it takes longer, final results are usually obtained in six to eight weeks. Such swift action is normally unheard of in a litigation context. If the fraud on the website is particularly obvious, or if there has been a history with similar typo-squatters in the past, the registrar tends to remove the website more quickly. In all cases, when the appointed arbitrator, or panel of arbitrators, makes a decision, it is published and the registrar behind the domain administers the decision. In addition, one may be able to obtain identifying information for the registrant at the beginning of the process. In some cases, such information may lead to the ability to pursue further relief from the perpetrator after the domain has been removed. The UDRP process itself is not a way to recover monetary damages. In this age of internet anonymity, attempting to use standard methods when falling victim to a typo-squatting fraudster may ultimately increase the costs to resolve the issue and waste valuable time. Businesses should, rather, contact a trademark attorney to discuss what options are appropriate for their specific circumstances, and always stay vigilant when conducting online commerce.

Most businesses use their trademark (e.g., their name) as part of their domain name. Accordingly, a company can use trademark rights to protect its domain name.

Digital Hesitation This digital transformation playbook provides details and guidance on the tactics required to build a profitable X-as-aService business model, including digital customer experience, data-driven sales, customer success at scale, digitally enabled partners and outcome-aligned pricing. It’s the pragmatist’s guide to managing a technology-centric B2B company through its next five years of development. Readers will learn what a full digital transformation looks like for technology providers, what a company will need to do to enable digital transformation at scale, the benefits of a complete digital transformation and how it will help unlock efficient growth and enable a company to stay relevant and competitive in today’s technology market. The book provides takeaways on how to use data and create a digital customer experience to improve product, sales and service delivery. Digital Hesitation: Why B2B Companies Aren’t Reaching Their Full Digital Transformation Potential Thomas Lah Available 7/12/2022

TSIA

384 pages

The Great Money Bubble Americans are facing sticker shock at every turn: from the gas pump to the grocery store and every kind of consumer service. But the eye-popping price increases are just the tip of the iceberg in terms of the threat to the country’s economic recovery. Inflation showers windfalls on the rich while penalizing workers, savers, retirees, small businesses and most of Main Street economic life. After spearheading the economic policy for the Reagan Revolution, Stockman worked on Wall Street at the highest levels, and is now an adviser to professional investors. With this book, readers at all investment levels can have access to his groundbreaking financial advice. The Great Money Bubble: Protect Yourself from the Coming Inflation Storm David A. Stockman

$27.99

Humanix Books

Available 7/26/2022

256 pages

Get in the Game In Get in the Game, decorated gaming and social media research and marketing executive Jonathan Stringfield delivers a roadmap to understanding and navigating marketing and business integrations into the gaming ecosystem: who plays games (and why), how modern games are created and oriented around the world of e-sports, and where brands can get involved with modern games. This book explains the breadth and depth of the gaming audience, describing the rapidly changing demographics of modern games and the various motivations gamers have for playing games. It also unpacks the history of gaming and how it has impacted the creative processes and output from the industry. Finally, it offers a practical guide for brands wishing to integrate themselves into new gaming environments, with an emphasis on maximizing success for marketers, developers, content creators and fans. Get in the Game: How to Level Up Your Business with Gaming, Esports, and Emerging Technologies Jonathan Stringfield Wiley

$28.00 Available 7/26/2022

224 pages

JULY 33 2022 INBUSINESSPHX.COM

En Negocios

Edgar R. Olivo es un educador empresarial bilingüe, asesor económico y colaborador de varios medios de comunicación. Es apasionado por la educación y comunidad. Está certificado en finanzas y análisis de datos y posee un título en negocios de la Universidad Estatal de Arizona.

Edgar R. Olivo is a bilingual business educator, economic advisor and contributor for several media outlets. He’s a nonprofit executive who is passionate about education. He is certified in finance and data analytics and holds a business degree from Arizona State University.

JULY 2022

INBUSINESSPHX.COM

LIDERAZGO / LEADERSHIP

¡Decisiones!: Un proceso de 7 pasos para ayudar a los emprendedores a tomar buenas decisions por Edgar R. Olivo

Los emprendedores toman muchas decisiones diarias para llevar su negocio al éxito. Algunas decisiones son tan simples que apenas se dan cuenta de que las están tomando, mientras que otras requieren mucho tiempo, son de alto riesgo y pueden hacer que se sientan ansiosos. Las decisiones pueden hacer o deshacer un proyecto o un negocio completo. Y a menudo también involucran problemas interpersonales complejos e impredecibles. Con tantos platos girando, ¿cómo puede un emprendedor tomar buenas decisiones? La verdad es que no existe un enfoque milagroso para hacer siempre una buena elección. Es difícil predecir el futuro, mientras que puedes aprender del pasado. Este conocimiento es útil para planificar y mejorar sus habilidades para resolver problemas. Esto le ayuda a reunir una variedad de habilidades para la toma de decisiones en un proceso lógico y ordenado. Muchos estudios muestran que los emprendedores no toman riesgos significativos; a menudo buscan una forma

no tradicional de encontrar una solución al problema; los emprendedores son personas que toman riesgos calculados. El siguiente proceso de siete pasos lo ayudará a tomar una buena decisión como emprendedor que enfrenta situaciones complejas. Paso 1: Haga su tarea. Las decisiones a menudo fallan porque los factores clave se pasan por alto o se ignoran desde el principio. Entonces, antes de que pueda comenzar a decidir, debe comprender completamente su situación. Empiece por considerar la decisión en el contexto del problema que pretende abordar. Debe determinar si el problema declarado es el problema real o solo un síntoma de algo más profundo. Paso 2: Tómese el tiempo para pensar. ¿Puede darle a su decisión la atención que necesita? Dedique algún tiempo a prepararse antes de sumergirse en los hechos y las cifras. Recuerde que la mayoría de las decisiones también afectarán a otras personas, por lo que es útil pensar y explorar la situación desde todos los ángulos.

Iniciar un nuevo negocio puede ser difícil, especialmente para los nuevos emprendedores. Según la SBA, para el 21,5% de las pequeñas empresas, el camino termina antes de que llegue el primer año. Solo alrededor de la mitad de las empresas logran llegar a su quinto año fiscal. Los emprendedores son personas que toman riesgos calculados y complejos para tener éxito.

ENGLISH TRANSLATION

Paso 3: Identifique buenas alternativas. Cuanto más amplias sean las opciones que explore, mejor será su decisión final. Generar varias opciones diferentes puede parecer que hace que su decisión sea más complicada al principio, pero el hecho de encontrar alternativas lo obliga a profundizar más. Trate de salirse de sus patrones normales de pensamiento y proponga algunas soluciones verdaderamente innovadoras. Paso 4: Explore los pros y los contras. Cuando esté satisfecho de tener una buena selección de alternativas realistas, es hora de evaluar la viabilidad, los riesgos y las implicaciones de cada una. Casi todas las decisiones implican cierto grado de riesgo. También querrá examinar el impacto ético de cada opción y cómo eso podría encajar con sus valores personales y comerciales. Paso 5: Selecciona la mejor opción. Una vez que haya evaluado las alternativas, el siguiente paso es tomar una decisión y elaborar un plan. Si tiene que considerar varios criterios, utilice un análisis de matriz de decisiones para compararlos de forma fiable y rigurosa. O, si desea determinar cuáles deberían tener más peso en su decisión, realice un análisis de comparación pareada. Si su decisión se toma dentro de un grupo, pruebe técnicas como la votación múltiple para ayudar a su equipo a llegar a un acuerdo y elaborar un plan. Paso 6: Revise su plan. Antes de comenzar a implementar su decisión, analícela larga y desapasionadamente para asegurarse de que ha sido minucioso y de que no se han deslizado errores comunes en el proceso. Su decisión final es tan buena como los hechos y la investigación que usó para tomarla. Asegúrese de que su información sea confiable y que haya hecho todo lo posible para evitar el sesgo de confirmación o los puntos ciegos. Paso 7: Deja entrar a otros. Una vez que haya tomado su decisión, debe comunicarla a todos los afectados de una manera atractiva, informativa e inspiradora. Involúcrelos en la implementación de la solución discutiendo cómo y por qué llegó a su decisión. Cuanta más información proporcione sobre los riesgos y los beneficios proyectados, más probable será que la gente lo apoye. Al igual que muchos enfoques comerciales, no existe una forma mágica de hacer esto a la perfección cada vez. Sin embargo, con estrategias bien pensadas, para un emprendedor, pueden recorrer un largo camino.

Decisions! A 7-Step Process to Help Entrepreneurs to Make Good Choices by Edgar R. Olivo

Entrepreneurs make a lot of daily decisions to lead their business to success. Some decisions are so simple that the entrepreneurs are barely aware they are making them, while others are time-consuming, high-risk, and can leave them feeling anxious. Decisions can make or break a project or an entire business. And they often involve complex and unpredictable interpersonal issues, too. With so many spinning plates, how can an entrepreneur make good choices? The truth is that there is no silver bullet approach to always making a good choice. It is hard to predict the future, while you can learn from the past. This knowledge is useful to plan and sharpen your problem-solving skills. This helps you bring a range of decision-making skills together in a logical and ordered process. Many studies show that entrepreneurs do not take significant risks; they often seek a non-traditional way to find a solution to the problem. Entrepreneurs are people who take calculated risks. The following seven-step approach will help you make a good decision as an entrepreneur facing complex situations. Step 1: Do your homework first. Decisions often fail because key factors are missed or ignored from the outset. So, before you can begin to decide, you need to fully understand your situation. Start by considering the decision in the context of the problem it is intended to address. You need to determine whether the stated problem is the real issue or just a symptom of something deeper. Step 2: Take time to think. Can you give your decision the attention it needs? Spend some time preparing yourself before diving into the facts and figures. Remember that most decisions will affect other people, too, so it helps to think and explore the situation from every angle. Step 3: Identify good alternatives. The wider the options you explore, the better your final decision is likely to be. Generating several different options may seem to make your decision more complicated at first, but the act of coming up with alternatives forces you

to dig deeper. Try to step outside your normal patterns of thinking and come up with some truly innovative solutions. Step 4: Explore the pros and cons. When you are satisfied that you have a good selection of realistic alternatives, it is time to evaluate the feasibility, risks and implications of each one. Almost every decision involves some degree of risk. You will also want to examine the ethical impact of each option and how that might sit with your personal and business values. Step 5: Select the best option. Once you have evaluated the alternatives, the next step is to make your decision and come up with a plan! If you have various criteria to consider, use a Decision Matrix Analysis to compare them reliably and rigorously. Or, if you want to determine which ones should carry the most weight in your decision, conduct a Paired Comparison Analysis. If your decision is being made within a group, try techniques such as multi-voting to help your team reach an agreement and come up with a plan. Step 6: Review your plan. Before you start to implement your decision, take a long, dispassionate look at it to be sure that you have been thorough and that common errors have not crept into the process. Your final decision is only as good as the facts and research you used to make it. Make sure that your information is trustworthy and that you have done your best to avoid confirmation bias or blind spots. Step 7: Let others in. Once you have made your decision, you need to communicate it to everyone affected by it in an engaging, informative and inspiring way. Get them involved in implementing the solution by discussing how and why you arrived at your decision. The more information you provide about risks and projected benefits, the more likely people will be to support it. Like many business approaches, there is no silver bullet way to do this perfectly every time. However, with thoughtful strategies, for an entrepreneur, they can go a long way.

Starting a new business can be tough, especially for new entrepreneurs. According to the SBA, for 21.5% of small businesses, the journey ends before the first year is over. Only about half of businesses manage to reach their fifth fiscal year. Entrepreneurs are people who take calculated, complex risks to succeed.

JULY 35 2022 INBUSINESSPHX.COM

En Negocios

JULY 2022

INBUSINESSPHX.COM

ECONOMIA / ECONOMY

4 consejos sobre cómo decidir qué tipo de negocio iniciar por Edgar R. Olivo

Iniciar un negocio en cualquier economía, alta o baja, es arriesgado, pero también puede ser gratificante. Para muchos empresarios que quieren invertir en un negocio, tomar la decisión de iniciar uno puede ser complicado y aterrador. Hay muchos factores que un empresario necesita considerar antes de iniciar un negocio, como conocer sus propios niveles de deseo en una industria y la cantidad de dinero que requerirá para comenzar el negocio. Elegir una idea de negocio e invertir en ella es un gran movimiento financiero para cualquier empresario. Es por eso que hacer su tarea antes de tomar la decisión es crucial para garantizar las mayores probabilidades de éxito. Si bien hay muchas maneras de iniciar un negocio, una simple estrategia de lluvia de ideas puede ayudar a un nuevo empresario a tomar la mejor decisión para invertir su dinero duramente ganado. Aquí hay cuatro consejos sobre cómo decidir qué tipo de negocio iniciar. • Identifique sus talentos, pasiones y habilidades. Tomar un poco de tiempo para hacer auto-reflexión sobre

sus fortalezas como sus talentos y habilidades le pondrá en el asiento del conductor del tipo de oportunidades que debe explorar. ¿En qué es bueno? ¿Qué habilidades tiene que le diferencian de los demás y pueden ser útiles en un negocio? Haga una lista, actualizarla a menudo y mantenerla cerca. • Explore las industrias que están creciendo. Una de las mejores apuestas que puede hacer es invertir en un negocio que está en un sector en crecimiento. Esta es una oportunidad para ver si puede combinar sus talentos, pasiones y habilidades con un mercado en crecimiento también. El punto dulce para muchos empresarios es hacer lo que le guste en un mercado que está creciendo. • Haga su investigación sobre la idea de negocio. La investigación es necesaria para tomar la decisión correcta sobre la nueva idea de negocio. Usted no debe iniciar un negocio sin saber lo básico primero. Hágase las siguientes preguntas: ¿Cuánto dinero necesitará para comenzar? ¿Qué habilidades se necesitan? ¿Quién compra el producto o servicio? ¿Cómo se entrega el producto o servicio? ¿Tiene lo

La pandemia de COVID-19 ha hecho del emprendimiento una alternativa viable a una ocupación tradicional. Según las últimas estadísticas de emprendimiento, en 2021 se registraron casi 5,4 millones de nuevas empresas (Census.gov, 2022). No solo se trata de un aumento interanual del 23 por ciento, sino que también es el mayor número de establecimientos jóvenes que ha habido en un solo año calendario en más de 15 años.

ENGLISH TRANSLATION

4 Tips on How to Decide What Kind of Business to Start by Edgar R. Olivo

que necesita para iniciar y mantener el negocio durante al menos un año? Puede explorar y aprender de otros dueños de negocios que ya lo están haciendo. Entienda los riesgos implicados dentro de cada industria • Imagine el estilo de vida que quiere. Iniciar un negocio le quita tiempo a otras áreas de su vida. Tómese un momento para reflexionar sobre el tipo de estilo de vida que está buscando. Algunas industrias requieren mucha participación, mientras que otras son más pasivas. ¿Se ve trabajando en el negocio solo? ¿Con su familia? ¿Quiere más flexibilidad con sus horarios? ¿Tiene planes para retirarse del negocio en algún momento? Sé muy intencional sobre el estilo de vida que está diseñando. Este será su indicador a lo largo de su viaje empresarial para mantener el equilibrio entre el negocio y el estilo de vida que quiere. Al decidir iniciar un negocio, usted quiere asegurarse de que está creando algo que es útil para otras personas. Al final, es la gente que compra de un negocio. Si su idea de negocio puede resolver un problema y crear el estilo de vida que está buscando, entonces vale la pena explorar.

Starting a business in any economy, up or down, is risky, but can also be rewarding. For many entrepreneurs who want to invest in a business, making the decision to start one can be complicated and scary. There are many factors an entrepreneur needs to consider before starting a business, such as knowing his or her own levels of desire in an industry and the amount of money it will require to get the business started. Choosing a business idea and investing in it is a big financial move for any entrepreneur. That is why doing your homework before making the decision is crucial to ensuring the highest probabilities of success. While there are many ways to start a business, a simple brainstorming strategy can help a new entrepreneur make the best choice to invest his or her hard-earned money. Here are four tips on how to decide what kind of business to start. • Identify your talents, passions and skills. Taking a little time to do some selfreflection about your strengths, like your talents and skills, will put you in the driver’s seat of the kind of opportunities you should explore. What are you good at? What skills do you have that differentiate you from everyone else and can be useful in a business? Make a list, refresh it often and keep it close. • Explore industries that are growing. One of the best bets you can make is investing in a business that is in a growing sector. This is an opportunity to see if you can match up your talents, passions and skills to a growing market as well. The sweet spot for many

entrepreneurs is doing what you love in a market that is growing. • Do your research about the business idea. Research is necessary to make the right decision on the new business idea. You should not start a business without know the basics first. Ask yourself the following questions: How much money will I need to get started? What skills do I need? Who buys the product or service? How is the product or service delivered? Do I have what you need to start and maintain the business for at least a year? Understand the risks involved within each industry you explore and learn from other business owners who are already doing it. • Imagine the lifestyle you want. Starting a business takes time away from other areas of your life. Take a moment to reflect on the kind of lifestyle you are seeking. Some industries require a lot of involvement while others are more passive. Do you see yourself working in the business yourself? With your family? Do you want more flexibility with your schedule? Do you have plans to retire from the business at some point? Be very intentional about the lifestyle you are designing. This will be your gauge throughout your entrepreneurial journey to keep balance between business and lifestyle. When deciding to start a business, you want to make sure you are creating something that is useful to other people. In the end, it is people who buy from a business. If your business idea can solve a problem and create the lifestyle you are seeking, then it is worthwhile exploring.

The COVID-19 pandemic has made entrepreneurship a viable alternative to a traditional occupation. According to the latest entrepreneurship stats, nearly 5.4 million new businesses were registered in 2021 (Census.gov, 2022). Not only is this a 23 percent year-over-year increase, but it is also the highest number of young establishments there’s ever been in a single calendar year in more than 15 years

JULY 37 2022 INBUSINESSPHX.COM

Economy

DEVELOPING & GROWING BUSINESS DYNAMICS

Microloans Level the Playing Field The 5 C’s of credit are hurting small businesses by Rhett Doolittle

Rhett Doolittle is the CEO and chairman of Business Warrior, an open source technology company providing small businesses in the United States with a suite of data-driven marketing and next-generation funding solutions to boost local market dominance. Founded in 2014, Business Warrior is singularly focused on offering locally targeted lead generation marketing and funding solutions that fuel small business growth. By using next generation machine-learning and native software, Business Warrior has made growth funding and conversion marketing accessible for thousands of under-resourced and under-funded small business owners. businesswarrior.com

JULY 2022

INBUSINESSPHX.COM

The 5 C’s of Credit — character, capacity, capital, collateral and conditions — is an old term that outlines what business owners need to have established to secure financing and grow. The Census Bureau reports that 5.4 million businesses were formed in 2021. Many of these new businesses haven’t had enough time to establish the 5 C’s of credit and therefore may be at a loss as to how to get growth capital and expand operations. The 5 C’s can be harmful to business owners because it gives the impression that they won’t be allowed access to funding without having all their ducks in a row. At the same time, the Federal Reserve shows that 85% of business owners experienced financial hardship in 2021 and, with record-breaking inflation in 2022, small businesses are struggling to get loans from traditional banks and lenders at a time when they need it most. All hope is not lost, however. Microloans are a tool that can knock down the barriers of entry in the marketplace with their accessibility and ability to improve business models, making the 5 C’s of Credit inconsequential. Microloans typically fall under $50,000, and can be incredibly impactful — especially for women, low-income and minority business owners. Microloans can benefit small business in the following ways: Cover expenses that lead to direct profits: For small businesses, these smaller loan amounts are a great way to expand operations by covering expenses that can be translated into a direct return on investment, such as advertising and marketing. To put it simply, a microloan allows business owners the freedom to use their current revenue to grow, invest in better equipment or improve staff’s wages and benefits, while using that small amount of borrowed money to reach new customers and grow future revenues. Easily accessible: The process of applying for microloans is less stringent, meaning that the age of a business, credit score and available collateral aren’t factors counted against a loan

applicant. For business owners who have not been operating for long or who have a shaky credit history, microloans can be a great option. Additionally, microloans are designed to dispense money quickly. Typically, applicants can get approved and funded in one or two weeks, which can save them from having to operate underfunded for multiple months. A personal touch: Another unique aspect to this type of loan is many microlenders work with small business owners to ensure their business thrives. The goal behind microloans is providing qualified small businesses with fair, accessible funding, as well as training and educating. Not only is this a smart option to obtain business funding, but to receive mentoring, marketing and resources to support business growth and development. Existing businesses should take advantage of microloans to give a financial boost to grow and expand current operations while also learning to improve their business model. Lend credit a helping hand: In the early years of a business, when the 5 C’s are still being established, it’s important to start off on the right foot by making loan payments on time and in full. Microloans are excellent opportunities to rebuild a poor credit score because interest rates can be as low as 7.97% and payback periods can be anywhere between 12 and 26 months. This allows business owners to keep their payments low and gives them ample time to pay their loan back. Leveling the playing field: The small business world is fiercely competitive and can be daunting in the early years. In fact many businesses have failed without the funding typically only bestowed upon large companies with established track records. Fortunately, even if traditional lenders fail to help, business owners still have options. Microloans help level the funding playing field for traditionally disadvantaged business owners, especially women, veterans and minorities.

Data from online lender Biz2Credit showed that in February 2022, big banks approved 14.7% of loan requests — which was down from 28.3% in the same month in 2020. It’s no wonder that the 2022 JPMorgan Chase Business Leaders Outlook survey shows that small business leaders are increasingly seeking untraditional ways to reach their goals. business.chase.com/resources/manage/blo-2022 • bit.ly/biz2credit-0322-report

Changing

way

THE

Arizona watches

LOCAL TV

SPORTS | LOCAL EVENTS | NEWS | BUSINESS | COMMUNITY

OUR SUBJECT IN-DEPTH

Succession Planning: Preparing for the Expected or Unexpected A strategic succession plan should be a top priority for business owners by Jeff Friesen

Jeff Friesen is Southwest Region president for Enterprise Bank & Trust. In this role, he is responsible for the Arizona, New Mexico, Las Vegas and San Diego markets. He oversees current clients’ business and personal banking needs and is also responsible for commercial and industrial and commercial real estate lending. enterprisebank.com

JULY 2022

INBUSINESSPHX.COM

With an aging population of baby boomers in ownership roles, succession planning has become an ongoing priority. Although some of the activities were paused due to uncertainties related to the pandemic, the ideas have been brought back to the table with interest rates remaining relatively low and liquidity relatively available to deploy. Many businesses remain actively engaged in succession planning to ensure continuity of operations when the current ownership is no longer in charge. Business owners should consider what steps need to be taken to prepare their business to succeed after they step away. Preparing a succession plan takes time to be done correctly. Ideally, the process starts 18 to 24 months before any potential change in leadership. This means assembling a team of trusted advisors (CPA, attorney, banker and wealth advisor) to identify the best option and put strategies in place as soon as possible because an established exit date cannot always be determined or doesn’t happen as planned. To properly work through the intricate details of a welldesigned succession plan, a business banker can explain the mechanics of how some of the financing and transfer of ownership might work in different situations. This can include tax, trust and estate matters, and guidance on the most financially beneficial path forward. This can also include critical loan considerations — ability for new owner(s) to qualify for loans, the obligations for existing loans, etc. A solid financial partner can walk through the steps and timeline to provide a better understanding of the process involved with different options. A trusted financial advisor can also help to determine how to handle any type of lump-sum payment involved in a transition to avoid unnecessary costs or complications. And finally, it is vital to develop a financial plan for life following the sale of the business. This will help determine how investment assets should be allocated and set a path for future liquidity needs. Those who wait until after the sale of the business could be putting themselves and their finances at some risk. In general, any planned or unplanned change in ownership typically involves seven common options: • Sell to a strategic buyer — another company in the same or related industry that will seek to realize synergies by combining or running the companies together. • Sell to a financial buyer — a company or individual without a company in the industry but with interest in purchasing as a financial investment. • Sell to management — a management team that pools resources to buy out the current owner. • Employee Stock Ownership Plan (ESOP) — an arrangement that enables employees to own part or all of the

company, accumulating shares over time and cashing in those shares when they retire or leave the company. • Transition from singular leader to shareholder — letting the head of a business/company take a step back from day-to-day operations and install others to run operations. • Liquidate assets of the company — selling off all the assets of a business (equipment, inventory, etc.) and closing the doors, winding down operations. A good succession plan often does not look just at what the business owner wants and needs to maximize value and create a cash windfall, but also seeks to determine what’s best for employees at all levels and what’s best for customers, suppliers and other organizations the business works with in the marketplace. This requires a lot of time, thought and resources, potentially including an independent audit, establishing a business valuation, and working with experts on succession planning. While the 18- to 24-month window can be a good guide, this process can take longer, depending on the complexity of the organization, and businesses should plan to invest months or years rather than days or weeks into the work. Putting a plan in place as soon as possible should be a priority, but once determined, a financial partner should regularly revisit the details. Preparation and review work hand in hand, and updates are almost always required because people, situations and operations change. Whether moving on to a new venture or a well-deserved retirement, or preparing for the potential of an unforeseen event, business owners should have an idea of how to exit in a way that best benefits themselves and employees while honoring the established vision that led to success. Determining top priorities and identifying the proper succession plan can allow for execution to carry forward a built legacy.

One option for a succession strategy is an Employee Stock Ownership Plan, an arrangement that enables employees to own part or all of the company, accumulating shares over time and cashing in those shares when they retire or leave the company.

ENVIRONMENTS & WORKPLACES

The Future of Work: Dynamic Environments

How to make the office an experience multiplier by Rory Carder

JULY 2022

INBUSINESSPHX.COM

Transwestern Arizona Headquarters: Indoor outdoor connection and spaces away from screens are desirable in the workplace experience

individual focus and privacy, while others are better suited to small-group collaboration and brainstorming. 2. Leverage in-between spaces for flexibility and culture building. In offices that are big enough to contain several neighborhoods, it’s important to pay attention to the transition points where the neighborhoods intersect. These are ideal places to fulfill a host of needs: storage, impromptu team meetings, enclosed meeting rooms, phone booths and other team resources. Beyond their functional importance, these spaces should reflect the personality of the surrounding neighborhoods, allowing teams to stamp them with their own identity. 3. Provide relief from computer screens. Long hours in front of computer screens can be stressful and tiring for mind and body. In response to this, we’re starting to see tech-free spaces in offices, designed with ambient light and sound to support creative, calm or active ways for workers to reset their state of mind. 4. Embrace the outdoors. People feel valued when their surroundings demonstrate concern for their health and wellbeing. We are seeing a significant increase in our clients who want to add outdoor space to their workplaces. Both in new buildings and renovations, there’s a rising interest in offices that have direct connections to exterior balconies or patios that are furnished much like outdoor living rooms. 5. Enrich the experience with new technologies. As more companies work the kinks out of their hybrid work strategies, there’s an increasing need for cutting-edge technology that brings teams together and levels the playing field for remote workers who might fear missing out. This includes video conferencing tools to promote equitable hybrid interactions, sensors to detect and respond to individual preferences for temperature and lighting, health and safety monitoring systems and more. 6. Have some fun. For knowledge workers, socializing is an important part of productive work. It’s not only a time to build personal connections among co-workers, but it’s also a great opportunity for idea generation. Chance encounters are critical to innovation because that’s when ideas collide in unplanned ways.

Offices must offer twice the experience they did before the pandemic. The new office must be an experience multiplier, a destination rather than an obligation for workers who crave authentic engagement and interaction.

Photos by Ryan Gobuty, courtesy of Gensler

Rory Carder, NCIDQ, is workplace studio director with Gensler’s Phoenix office. Carder leads design, strategy and operations in her leadership role, with more than 24 years of experience in the commercial interiors industry. Arizona Commercial Real Estate Magazine recognized Carder as one of the Most Influential Women in Commercial Real Estate and she is regularly invited to speak on industry panels about the future of the workplace. gensler.com

As we think about the future of work, we know we’re not going back to the old ways of doing things. We have an opportunity to explore new possibilities, bringing the best of how we worked during the pandemic to work better postpandemic. We can imagine a new workplace ecosystem that puts the focus on what’s best for individuals and teams based on how they do their best work. Policies, technology and the physical workplace are tools to create a dynamic experience for employees. Gensler conducted 11 global surveys (gensler.com/workplacesurveys) over the course of the pandemic to understand how employee preferences and company expectations were evolving. The workplace is the melting pot for people to come together and to connect, build relationships and establish cultural norms. The role of the office has become increasingly apparent in our research since the pandemic began. Beyond the practicalities, there are other motivations based on people’s desire for authentic experiences beyond virtual exchanges. Offices must offer twice the experience they did before the pandemic. The new office must be an experience multiplier, a destination rather than an obligation for workers who crave authentic engagement and interaction. With all these strategies, the key is providing workers with choices. After a lengthy period of isolation from our peers while working at home, we understand that the workplace needs to provide functional spaces to support work activities and also social experiences that people crave. The workplace must be re-envisioned as a collection of flexible, adaptable spaces where people are empowered to choose the space best suited to the job at hand and the size of their team. And yet, there is no one-size-fits-all solution. As people increasingly come back to the workplace, we will experiment, pilot and test how spaces can support new ways of working and what places work best for people — both in and out of the office. As Janet Pogue McLaurin, Gensler’s global director of workplace research, put it, “Real estate’s value will be directly tied to how we experience these spaces — and how well it meets our needs and expectations. The potential to provide great experiences for people will drive value.” As we work through these changes, here are six design strategies we can implement now to foster experience in the workplace: 1. Create team-based neighborhoods. Workplaces should move away from the idea of a one-size-fits-all seating strategy. Teams can be assigned to “neighborhoods” with an assortment of work settings. Some spaces might support

something’s different. Precision. Strength. Artistry. Performing for our clients at the highest level through a nimble and adaptable approach. Experience the Difference. WILLMENG.COM | A Z ROC B-01 082904 | AZ ROC A 323741

INVESTING IN COMMUNITY 5 STEPS FOR BUILDING A COMMON AGENDA 1. Form a team that will work together for 12–18 months and are tasked to own the common agenda and shared measurement of the collective impact work. 2. Identify and bring together the top 100 people from the community, nonprofit, business and government sectors, as well as people with lived experience, critical to the success of the collective impact work. 3. Implement a broad-based community engagement strategy in order to hear community needs. 4. Develop short-term action teams (mandates of no more than six months) in order to implement early win strategies. 5. Write a common agenda and shared measurement strategy. Present the plan and solicit partnerships with the top 100 people and organizations. Source: Tamarack Institute

Melissa L. Boydston, Ed.D., is the senior vice president of community development and engagement at Valley of the Sun United Way. VSUW envisions a community where every child, family and individual is healthy; has a safe place to live; and has every opportunity to succeed in school, in life and in work. As we work with our community, corporate and nonprofit partners to implement MC2026, our five-year plan for Mighty Change, we will put all of our efforts toward reaching bold goals for Maricopa County in health, housing and homelessness, education and workforce development. vsuw.org/mightychange

JULY 2022

INBUSINESSPHX.COM

Strategic Strength in Collective Impact

Large-scale Valley growth calls for large-scale social solutions to address community needs by Melissa L. Boydston, Ed.D.

The Phoenix metropolitan area continues to lead lists of the fastest-growing cities across the country, and with that growth comes wide-ranging issues that add to the complexities of addressing social challenges and issues throughout our community. It has become increasingly clear that companies, nonprofits and other community-minded organizations that want to create a sustainable and positive impact on their local communities must work together to best align their corporate social responsibility (CSR) and environment, social and governance (ESG) efforts with the collective needs and efforts of the community at large. While the idea of cross-sector collaboration is not new, the concept of “collective impact” has evolved to incorporate new components and strategies to improve impact and sustainability. Collective impact is an approach used to address a range of social complexities through cross-sector collaboration and partnerships. The social sector has many examples of partnerships, joint collaborations and networks of organizations working to achieve impact, but collective impact is different because it involves five key factors: backbone, for organizational structure, which includes a dedicated staff; shared measurement; continuous communication; mutually reinforcing activities; and a common agenda. Collective impact is an increasingly popular approach to addressing persistent social problems. As a place-based systems approach to social change, the cross-sector collaboration is more structured and strategic, seeking to strengthen the systems structurally — both physically and socially — and the economic conditions of a community. Place-based approaches can play an important role in creating opportunities such as prioritizing common goals and strategically aligned missions and activities for communities, which generally best know their own assets and challenges. The approach is appealing with support from many across the nation; however, the strategic, cross-sector collaboration of collective impact can be challenging. Research suggests such cross-sector collaboration is needed to address social challenges. Yet, there are challenges, such as the struggle to align shared or community-wide missions and goals with their own organizational missions and core competencies that make a collective impact approach difficult to execute, despite the willingness of organizations and communities to engage in these efforts. For example, within the Arizona educational system are dozens of programs, initiatives and efforts to address key issues affecting schools and help children overcome the opportunity gap. While educators are searching for nontraditional methods to increase student achievement, each of the organizations offers resources and initiatives critical to the success of students. They are provided by many different

While the idea of cross-sector collaboration is not new, the concept of “collective impact” has evolved to incorporate new components and strategies to improve impact and sustainability.

community organizations; however, efforts could be more effective if coordinated and all working on a shared agenda. To achieve systemic change, collective impact is designed to align resources and unify agendas of multiple organizations to solve these social-educational issues. Large-scale social change comes from better cross-sector coordination rather than from the isolated intervention of individual organizations. Nonprofits and funders often overlook the potential for collective impact because they are accustomed to focusing on independent action as the primary vehicle for social change. Isolated impact is the approach often used, which is oriented toward finding and funding a solution from a single organization. However, the complex nature of most social problems makes it difficult for just one organization to create lasting large-scale change. Organizations that want to engage or are already engaging in collective impact know they must understand the infrastructure of a collective impact initiative and take advantage of the framework set up to address adaptive problems and create the greatest possible change. Building a common community agenda, and constantly revisiting that agenda, is fundamental to all community change requiring a collective impact and being committed to change by bringing organizational assets and individual talents collectively together in order for the whole to be greater than its individual parts. Throughout the Valley, many companies and organizations are ahead of the curve and have designed their CSR and ESG efforts using a collective impact model. Valley of the Sun United Way, for example, has been using this approach for nearly two decades, but many other companies and organizations are poised to have the same collective impact. Many national networks offer workshops, seminars and conferences to further develop the understanding of collective impact, and many of these organizations have detailed websites with toolkits available and navigators assigned to support initiatives. Ryan Narramore contributed to this article.

WE VALUE WHAT WE OWN

2022 Mercedes EQS Sedan Redefining the automobile once again, Mercedes-EQ launches the all-electric 2022 EQS Sedan. Designed to exceed all expectations, the completely new EQS from Mercedes-EQ is the first-of-its-kind fully electric luxury vehicle. While the EQS is a close relative to the new S-Class, the electric architecture is all its own. This sedan marks a major milestone in integrating progressive mobility with executive-class luxury. Seductively sculpted, the EQS is one of the world’s most aerodynamic production vehicles available today. Upon approach, one notices the ultra-sleek exterior with an LED light band that stretches across the entire front grille, offering a taste of the captivating beauty that lies within. The

automatic comfort doors open and close — automatically. The beautiful design extends seamlessly inside the sleek interior, revealing the available Mercedes-Benz User Experience (MBUX) Hyperscreen. Exclusive to the EQS, this 56-inch curved-glass instrument panel stretches from door to door to seamlessly merge three screens. A zero-layer interface eliminates the need to scroll submenus or provide voice commands, as the most essential applications — charging, entertainment, phone, navigation, connectivity, massage and more — are available given the situation. The heart of the EQS beats with the next-generation lithium-ion battery, a sophisticated, high-energy density that sets a benchmark in performance, efficiency and charging capacity. The integrated navigation uses Electric Intelligence to calculate the route while taking into account charging stops, weather conditions and topography — helping to ensure the journey flows as smoothly as the EQS itself. With easy charging opportunities in the densest network of charge points, the EQS can get a quick boost in just 15 minutes. And, unlike traditional gas-powered engines, the EQS electric engine has its own soundscape, designed to uniquely carve out space for tranquility within the cabin. —Mike Hunter

2022 MERCEDES EQS SEDAN MSRP: $102,310 Electric Range: 350 mi Battery Capacity: 107 kWh 0–60: 5.9 sec

Mercedes-Benz mbusa.com

Return-to-Office Benefit: Foodja Workplace restaurant delivery and catering

great workplace experience to welcome

platform Foodja recently launched Foodja

employees back to the office. Our Cafe

Cafe, an employee lunch program designed

product serves both needs.

Photos courtesy of Mercedes-Benz (top), Foodja (bottom)

to encourage employees to return to the

Traditional employee benefits such

office. Offering a reliable and cost-effective

as 401K and health insurance are great

workplace benefit, Foodja Cafe allows

to attract and retain employees, but

employees to order their own customized

they are expensive. Foodja encourages

meals from their favorite local restaurants.

them to come into the office, mingle with

It has seen great success as employers

co-workers during lunch, and increases

California-based company is currently

adopt hybrid work schedules.

their productivity.

operating throughout California, Arizona

Employees are looking to order

Developed to meet the unique catering

and Texas, with plans to expand to

their own personalized, individually

and meal program needs of companies,

additional U.S. markets. —Steve Sprinkle,

packaged meals from local restaurants

Foodja can accommodate businesses with

founder and CEO of Foodja (foodja.com)

while employers are looking to create a

20–20,000 employees. The Southern

DON’T MISS OUT!

Get a year of In Business Magazine Subscribe now at inbusinessphx.com

Plans start at $20 per month per employee

Stay in Charge: Along with up to 350 miles of driving range and brisk response, an industry-advancing charging ecosystem offers nearly 60,000 public charge points nationwide with the assurance of green energy. Intelligent navigation sets a new standard for electric motoring simplicity. Or change at home with ChargePoint. chargepoint.com/mercedes

JULY 45 2022 INBUSINESSPHX.COM

MEALS THAT MATTER

PUERCO EN CHIPOTLE All-natural, hormone-free pork — marinated for six hours, slow roasted for six hours, then finished on a wood-fire grill for those charred crispy edges — served over chipotle-tomatillo sauce topped with Oaxaca cheese, onion, tomatoes and cilantro and accompanied by two sides $20

TOMATO OAXACA SALAD Freshly sliced tomatoes stacked with thick shreds of Oaxaca cheese, radishes, jalapeños, onions and cilantro and brightened with a homemade vinaigrette $10

SOPES

Los Sombreros Uptown: Get Down with Oaxacan-Inspired Mexican Cuisine by Elaina Verhoff

Los Sombreros, a Scottsdale institution since 1994, brought its popular concept to the Central and Camelback area in 2019, when the new owners opened their second location in the Uptown Phoenix shopping center. After temporarily closing at the end of 2020 for little over a year, the charming restaurant located inside the brick house-style building at 3rd Street and Camelback is now back in business. Los Sombreros has its roots in the deep flavors of Oaxacan-inspired cuisine and has earned a cult following not only for its food but also for its incredible cocktails (hint: try the Steve-a-Rita) and laid-back ambiance plus some of the best patios in town. Los Sombreros Uptown welcomes guests with a bright bold mural of “Los Lola” on the side of the building and a charming walkway leading to a hefty wooden door. Grab the iron handle and step inside to be greeted with a fresh welcoming interior and a trendy uptown vibe. Rope lights with exposed bulbs drape over banquette tables upholstered in brightly striped hues, and the boldly tiled bar leads the eye to twinkling pendant lights and shelves of tequila and mezcal. Passing through the restaurant leads to the door to a covered patio, dotted with white and green tiled tables, flanked with potted palms and cooled with misters. (The patio’s star lanterns and twinkle lights after dark set the scene for date night or cocktails with friends.) Next up is the menu. Those who like to make lunch their heartiest meal of the day will not be disappointed. Wood-fired house specialties include all-natural, hormonefree carnitas — marinated for six hours, slow roasted for six hours, then finished on a wood-fire grill for those charred crispy edges. Like things saucy? The Puerco en Chipotle

Homemade masa, fried and filled with refried beans, chipotle tomatillo salsa and carnitas, then topped with tomato, cilantro, avocado, queso fresco and chipotle crema $12

takes those same carnitas and bathes them in a chipotletomatillo sauce then tops it all off with Oaxaca cheese, onion, tomatoes and cilantro. Owner Kurt Riske says if he had to choose his last meal, it would definitely be the Pollo con Espinacas, an airline chicken breast and sautéed spinach over their house-made chipotle crema sauce, topped with cilantro crema, tomatoes, onions, cilantro and queso fresco. “For those who have not experienced our food, I think they will have a whole new appreciation of what Mexican food can be,” says Riske. “Our traditional fare stays true to Oaxacanstyle cuisine and is a refreshing change from the style of Mexican food many Arizonans are accustomed to.” Los Sombreros recently introduced a breakfast menu, available only at the Uptown location from 8 a.m. to 4 p.m., rounding out the options for those craving chilaquiles or huevos rancheros at noon. Other items on the breakfast menu include Avocado Toast served on oven-grilled toast and drizzled with balsamic vinaigrette and queso fresco, and Crepas con Frutas, a colorful dish of crepes served with strawberries, mango salsa and whipped cream. Papas + Chorizo showcases potatoes and roasted poblano peppers in chipotle tomato salsa topped with cilantro crema and queso fresco, topped with two over-medium eggs. Finally, the Pollo Fundido is a can’t-miss deep-fried chicken burrito topped with guacamole, pico de gallo, chipotle crema and queso fresco. On the lighter side, the Oaxaca Tomato Salad features a tempting stack of sliced tomatoes layered with jalapeno discs, thick creamy Oaxaca cheese and diced onions, drizzled with a vinaigrette. New shareables dishes are a great way to try a few tapas-style items like the Sopes, homemade masa, fried and filled with refried beans, chipotle tomatillo salsa; and carnitas, topped with tomato, cilantro, avocado, queso fresco and chipotle crema; or the Crispy Taco Platter, which includes a crispy potato, a crispy chicken taco and a crispy carnitas taco. Once discovered, Los Sombreros is sure to become a regular on the lunch rotation. Los Sombreros 322 E. Camelback Rd., Phoenix • (602) 601-6390 1976 W. Southern Ave., Mesa • (480) 534-6742 lossombreros.com

JULY 2022

INBUSINESSPHX.COM

Menu items include dishes created by James Beard Award nominee Jeff Smedstad, owner of Elote Cafe in Sedona, who was a founding owner of Los Sombreros.

Photos courtesy of Los Sombreros

2534 N. Scottsdale Rd., Scottsdale • (480) 994-1799

Summer 2O22 • aztechcouncil.org

IN THIS ISSUE 2 World Comes Calling

Arizona Technology Report

Arizona Technology Council: The Voice of the Technology Industry

President’s Message

Delegations show personal interest in Council, Arizona’s tech ecosystem

WHO WE ARE

Caillou Pena, Government Relations Specialist Amanda Rincon, Ecosystem Team Member Lisa Ristuccia, Festival Team Member

aztechcouncil.org

ARIZONA TECHNOLOGY REPORT

World Comes Calling

Delegations show personal interest in Council, Arizona’s tech ecosystem There was a time that practically the only way the world discovered Arizona even had a technology community was if its representatives packed their bags, grabbed their passports and headed to the airport. Now, those meetings are happening here as companies and delegations are making the trip to see for themselves what the state’s tech ecosystem has to offer. At least, that is what Karla Morales, vice president of the Council’s Southern Arizona Regional Office, is seeing. She has been involved in meetings that most recently have occurred with representatives from Colombia, Israel, Sweden, Montenegro and even Ukraine. Her involvement is an example of the Council’s outreach to share the Arizona success story with others. Another example is AZTechCast, the podcast dedicated to covering technological innovations in Arizona and beyond. As the world comes to Arizona, Morales recognizes that taking the time to speak with the visitors — whether in Tucson or making the drive up Interstate to Phoenix in her Tesla — has the potential to pay dividends for years to come. “We can increase those business relationships, and that business growth and international business,” she says. “The 100% focus is on technology.” Morales’ role in the discussions is to talk about the Council and how it supports the technology sector, as well as the opportunities that exist here. In the meetings, she often is part of a group that includes representatives from the Arizona Commerce Authority, The University of Arizona’s Tech Parks Arizona and Sun Corridor Inc., the economic development organization with a focus on Southern Arizona. “The fact that we have a community that really does create a supportive, cohesive environment of collaboration where the business is going to thrive” is appreciated by the visitors, Morales says. “Every single one of them is so incredibly appreciative of the opportunity to come and work with us and learn from us,” she says, noting much of this recent interest stems from Arizona becoming “the semiconductor capital of the nation” as the state’s manufacturing capacity is growing. A meeting that especially stood out to Morales was with the group from Ukraine, a country turned upside down by its conflict with Russia. “Their companies went from being very successful to now having no supply chain to having no network, no system in place,” she says.

ARIZONA TECHNOLOGY REPORT

“So, they’re really wanting to regain themselves and figure out, ‘How do we move from here and how we connect? How do we create a support system?’” For the Colombia delegation, many of the questions focused on what makes the Council effective. “They don’t have anything that relates to a cluster that helps them create, that network to help growth,” Morales says. “So, they’re really interested to see how we can help them begin something like that.” Even beyond Colombia, the visitors wanted to know about “the educational opportunities that the Council provides, the intentional connectivity that we provide for our members and the public policy support that we provide for them,” she says. They wanted to know, “How do we recreate this in our countries, how do we make this happen?’ Because this is so crucial for the success of the tech companies and the tech ecosystem.” Another way to learn about the success story of Arizona and the Council without having to go through customs is the podcast AZTechCast. The monthly broadcast features technology leaders having real conversations about what’s happening across the state. Co-hosted by Karen Nowicki, Phoenix Business RadioX president and owner, and Steven G. Zylstra, the Council’s president and CEO, AZTechCast’s guests share their thoughts about trending technology sectors, the region’s leading companies and emerging technologies that are propelling the state’s growing technology ecosystem. In the first half of the year, the podcast has hosted a wide range of guests from companies that include Accenture, Axon, Carvana and Emerge Technologies. In addition, representatives from Habitat for Humanity Central Arizona and the Black Chamber of Arizona have given their views. Recent topics have covered “How to Hire Technology Talent More Inclusively,” “Using E-Commerce to Expand Your Online Presence” and “Using Public Safety Technology to Improve Community Relations.” The full list of recent episodes is at https://businessradiox. com/series/az-techcast/. TechCast episodes also will now livestream at https:// businessradiox.com/series/az-techcast/ and Phoenix Business RadioX’s LinkedIn, Facebook and YouTube pages. Viewers also can subscribe on all major streaming services, including Spotify, Apple Podcasts, iHeart, Google Play, Spreaker, Deezer and Podcast Addict. Those links are available at https://www.aztechcouncil.org/techcast/.

In It Together

Avnet, Chief Science Officers support each other’s global outreach It’s no secret the SciTech Institute’s Chief Science Officers (CSO) program has grown to build an international presence and reputation. Now, a global leader in its own field is stepping forward to help increase that footprint in additional locations. Phoenix-based Avnet, a leading technology distributor and solutions provider, is investing in the CSO program to support expansion in or near the company’s hubs in Guadalajara, Mexico, and Leeds, United Kingdom. Domestically, the areas include Chicago, Illinois, and Gaffney, South Carolina. SciTech Institute is a nonprofit organization working to enhance and promote STEM awareness and engagement in Arizona and beyond. The CSO program has become a blueprint for communities across the world to grow their STEM ecosystems by empowering sixth- through 12th-grade students to be STEM ambassadors for their schools, the community and private industry. The program currently consists of about 1,000 students — 600 in the U.S. and 400 internationally. In just seven years, the program has expanded to international chapters in Kenya, Kuwait and Mexico, along with 11 other U.S. states. The partnership with Avnet underscores the powerful intersection between industry and STEM education. A pillar of the CSO program is to encourage students to pursue a career in science and technology while empowering them to use their STEM skills to make a positive difference in their world. “The support of innovative companies like Avnet, along with the Arizona Technology Council Foundation and Arizona Commerce Authority, have helped make the CSO program a worldwide success,” says Jeremy Babendure, SciTech Institute’s executive director. “Most importantly, this expansion will empower more young adults to discover their passions, be science and tech ambassadors, and explore new STEM career opportunities.” Working with Avnet in Arizona allows additional support of the CSO International Program expansion and a direct relationship with their team of STEM professionals and volunteers locally and globally. “Through the program, CSOs are empowered to identify ways that they can help other students and their communities understand and appreciate science,” says Kelly Greene, SciTech Institute’s director of

aztechcouncil.org

Student Success. “With the support from Avnet, we are able to reach new locations and focus on having the students grow the program in their regions. They don’t just give input. They literally run the programs they envision, gaining powerful leadership skills as they share their love of science.” Activities in areas served by Avnet will include: • Engagement in Leadership Training Institutes, cabinet meetings and program support in CSO international regions; • Avnet employees sharing professional career pathways and mentorship; • Specific experiences for girls in STEM; and • Future partnerships for Germany, India, Serbia and Singapore. Closer to home, SciTech Institute is getting support to expand experiential STEM opportunities to more than 25,000 students in Title 1 schools statewide with a $620,000 grant issued by the Arizona Department of Education through Elementary and Secondary School Emergency Relief (ESSER) set aside funds. The goal for the grant is to increase proficiency for all students and close achievement gaps by engaging and

empowering Arizona students to reach their full potential and providing opportunities for equitable academic outcomes so all students have access to multiple pathways to achieve lifelong success. As part of COVID-19 federal relief packages passed by Congress in 2020 and 2021, ESSER funds are dedicated to statewide strategic projects and investments that support schools’ recovery needs and increase learning opportunities for students through 2024. Title I is a federal education program that supports low-income students throughout the nation. SciTech Institute also is looking ahead to its signature annual event that gets families throughout the state excited about STEM (or STEAM, when the arts are included): the Arizona SciTech Festival. The kickoff for planners is the Arizona STEM & Innovation Summit, which brings educators, community members and collaborators together to share resources, best practices, community involvement and hands-on activities. The Summit will be held 8:30 a.m. to 5 p.m. on Sept. 27 at Arizona Science Center, 600 E. Washington St., Phoenix. The festival itself will be held in February and March 2023. For more information, visit https://scitechinstitute.org/arizona-scitechfestival/.

ARIZONA TECHNOLOGY REPORT

Living the Dream

Members keep the Council’s own tenets very much alive While the Arizona Technology Council is known for advocating the state’s tech ecosystem on a variety of fronts, it really is the group’s own members that reflect the same purpose for existing through successes that move their respective fields and communities forward. Here are just some of the latest examples: Information Technology Less than a year after being added to Meta’s family of data centers, plans have been announced for the Mesa Data Center campus to add three new buildings, reaching more than 2.5 million square feet. The expansion brings the company’s investment in Arizona to more than $1 billion. It also means the number of skilled trade workers at peak will increase from an average of 1,500 to 2,000. And once completed, the data center is expected to support 200 operational jobs. The U.S. Navy awarded Raytheon Missiles & Defense, a Raytheon Technologies business, an activation, sustainment and modernization contract valued at $483 million with options, if exercised, totaling $1.68 billion across five years. Raytheon will provide the U.S. Navy with services and professionals to complete the activation and fleet introduction of the three Zumwalt-class destroyers while continuing to develop technology and warfare capabilities. Additional services will include design, integration, test and evaluation, system upgrade and replacement, logistics product development, configuration management, and training systems. Honeywell has been selected to provide its new HTS7500 turboshaft engine as the power behind the Lockheed Martin Sikorsky-Boeing DEFIANT X® helicopter, currently a contender to win the U.S. Army’s Future Long-Range Assault Aircraft competition. The engine is the newest and most technologically advanced model in Honeywell’s family of military engines, which includes the iconic T55 engine that has powered the H-47 fleet for more than 60 years. Like the T55, the HTS7500 is a highly reliable engine designed to thrive in austere environments and perform to keep military personnel safer. The DEFIANT X® will be the fastest, most maneuverable assault helicopter. Designed to fly two times faster and farther than the Black Hawk, it is being tested in a digital combat environment, where it continues to prove its unmatched range and survivability. Workforce Development Intel and Maricopa County Community College District have announced a new artificial intelligence incubator lab for students

ARIZONA TECHNOLOGY REPORT

aspiring to land jobs in areas ranging from business and nursing to other professions that increasingly draw on AI technology. The new incubator lab and the associate degree program it supports is the first of its kind in the nation. The new lab at Chandler-Gilbert Community College opens its doors with $60,000-worth of Intel-based leading platforms, including workstations and open-source Intel AI software tools. It builds on Intel’s AI for Workforce program launched in 2020 at schools across the U.S., with the Maricopa district being the first to enroll students. Meta has announced a $50,000 grant in support of the Mesa College Promise program, which provides support for residents graduating from local high schools to attend Mesa Community College. This program not only helps students bridge the cost of college attendance but gives them the tools needed to succeed, including access to workshops, internship opportunities and an advisor. Clean Energy Leading professionals from Arizona Public Service, Salt River Project, Tucson Electric Power and Southwest Gas, as well as Arizona State University, The University of Arizona and Northern Arizona University, are forming an interdisciplinary coalition with the goal of attaining a carbon neutral economy in Arizona. All will play a crucial leadership role in helping the state explore options and strategic pathways that move Arizona toward a carbon-neutral and thriving economy. To begin, the coalition established the Center for an Arizona Carbon-Neutral Economy housed in the Julie Ann Wrigley Global Futures Laboratory on the ASU Tempe campus. Among its first undertakings, the center will pursue the creation of a regional clean hydrogen hub. Broadband Lumen Technologies is enhancing experiences on its Lumen Platform by investing in high-bandwidth architecture to bring upgraded Ethernet services to more than 40 cities by the year’s end. Early this year, these services were rolled out in nine cities, including Phoenix, with nine more gaining access to Ethernet speeds up to 30 gigabits per second in early May. The high-bandwidth Ethernet architecture also enables 30 gigabit speeds for Lumen dedicated internet access, Lumen Cloud Connect and IP VPN services. It represents a 10-fold increase in Lumen’s current standard Ethernet capabilities, the next step in the company’s Ethernet strategy.

Council Board Names Four Newest Members Four new members were appointed to the Arizona Technology Council board of directors at its quarterly meetings in the first half of 2022. Nathan Harris, CEO of Ease, and Robin S. Reed, co-founder and principal of EmFluent, were named at the Jan. 27 meeting, while Ivonne May, portfolio director for the Advance Air Dominance programs for the Advanced Technologies Mission Area at Raytheon Technologies, and Kurt M. VandenBussche, vice president for Technology Strategy and Innovation in Honeywell Aerospace’s Corporate Technology Organization, joined the board at the April 28 meeting. All have three-year terms. “We’re thrilled to welcome their expertise to our board as we continue to bolster Arizona’s innovation economy and transform this community into one of the nation’s leading technology hubs,” says Steven G. Zylstra, the Council’s president and CEO. Harris has led Ease to become the Phoenix Minority Business Development Agency’s Minority Emerging Technology and Industries Firm of the Year in 2021. The Ease technology and processes reduce hiring bias by providing companies with an AI-enabled way to attract, vet and upskill oftenoverlooked talent. Reed’s EmFluent is a corporate coaching and consulting company that focuses on leadership strategy, talent optimization and sales arbitrage.

Nathan Harris

He is also president and CEO of the Black Chamber of Arizona, and president of Occam Sustainability Partners (OSP), an international sustainability solution consulting firm that provides energy-saving strategies. Previously at Raytheon, May led Griffin®, HARM® and Maverick®, where she was responsible for the growth, production, improvements and development of new variants and sustainment of the missiles in the portfolio. In his Honeywell unit, VandenBussche oversees the development and implementation of long-term technology strategies, as well as relationships with academic institutions and venture ecosystems on a worldwide basis. The board of directors serves an advisory and fiduciary role by representing the interests of the state’s technology sectors in the Council’s strategic planning and ongoing operations. The other companies and organizations represented by the directors are Arizona Commerce Authority; AccountabilIT; Alerion Capital Group; Alliance Bank of Arizona; American Express; Arizona State University; Avnet; Ballard Spahr; Benchmark; Encora; Ernst & Young; IBM; Ideas Collide; ILLUME Advising; Insight; Intel; Iron Mountain; Keap; KEO Marketing Inc.; Lyft; MSS Technologies; PADT, Inc.; PayPal; Phoenix Business Journal; Quarles & Brady; Rincon Research; Solugenix; and Tech Parks Arizona.

Robin S. Reed

Ivonne May

Reports Offer Ongoing Updates on State of Technology Industry Wondering about the state of the state when it comes to technology? The Arizona Technology Council answers the question regularly with two key reports. For an ongoing snapshot of progress, the Council offers its quarterly Arizona Technology Industry Impact Report, which outlines the progress of the state’s technology sector across critical growth metrics. And since the Council has become the driving force

to connect and empower Arizona’s community of innovation, the progress of the group and the state is reported in the Annual Report. For example, a key takeaway in the recently released Industry Impact Report for the first quarter of 2022 was the number of technology companies in Arizona being up 8.17%, compared to an increase of 5.43% in the fourth quarter 2021. In addition, jobs within the industry were up 2.78% over the past year, creating almost 2,000 more jobs in the state, while total wages within the industry also rose 1.88%. The report also revealed some spectacular movement by investors looking to back the next big thing. Venture capital funding increased 162% since 2020 and total investments amounted to $2 billion last year alone. The Council also supplements its report with diversity statistics within the industry, published works, blogs and interviews highlighting Arizona technology industry

leaders, news from organizations across a wide range of sectors in the state’s technology community and more. Download or view the complete report on the Council’s website, aztc.eimpactv2.report/reports/ embed/5f08e79ae2cca70033382657. Resurgence. Is there a better word to describe Arizona, let alone the state of our technology community in 2021? This reawakening of sorts is why the 2021 Annual Report is themed Resurgence. Some of the bigger headlines were made when massive semiconductor manufacturing projects — including those by Council member Intel — were announced for Arizona. But we also witnessed success on the other end of the spectrum as a growing number of startups — with Council members among them — discovered that planting roots here was smart business. The 2021 Annual Report can be found at issuu.com/tcguy/docs/2021_final_annual_ report.

ARIZONA TECHNOLOGY REPORT

2022 CEO Leadership & Golf Retreat WORKSHOPS | KEYNOTES | GOLF | NETWORKING

AUGUST 1-2, 2022 | SEDONA Join the Arizona Technology Council and Arizona Commerce Authority for the 15th annual CEO Leadership & Golf Retreat. This getaway gathers CEOs, presidents and business executives for workshops, networking, golf and more.

www.aztechcouncil.org/event/2022-ceo-retreat/ www.aztechcouncil.org/tech-events

2022

Top

Small Business Services Guide FEATURING Aker Ink Cox Business Guidant Law Firm Quarles & Brady

Meet the

Companies That Support

Stearns Bank N.A.

Small Business

PRESENTED BY

Meet our Top 50 highest-recommended small businesses and small-business services companies …

YOUR COMPANY’S ENERGY USAGE COULD ACTUALLY EARN YOU MONEY. SRP’s Business Demand Response (BDR) program pays participants to reduce energy use temporarily in response to peak conditions on the grid! By participating, your company can earn payments without sacrificing operational reliability, which helps strengthen the grid and increase sustainability efforts. This could mean anything from rescheduling required maintenance to shutting off nonessential equipment when called upon and could result in significant earnings.

331502

Our exclusive BDR provider, Enel X (formerly EnerNOC), works with customers to develop custom energy reduction strategies designed to minimize disruption in your facilities and maximize your program earnings.

To learn more about the program and all of the benefits, in addition to monetary payments, contact Eric Chang at eric.chang@enel.com or visit srp.net/BDR

Top

Small Business Industry Leaders

Business Questions, Business Answers

Robert Blaney has served as the district director of the U.S. Small Business Administration for the State of Arizona since 1998. His varied experience includes work as a federal agent, police officer, vicepresident of an insurance brokerage and district director for the late Congressman Jack Kemp. He is a native of western New York and a graduate of the State University of New York College at Buffalo. sba.gov/offices/district/az/phoenix

Recently, a college student writing a paper, asked me, “What are the pros and cons of taking out a short-term loan?” My answer was that there were both advantages and disadvantages to short-term lending. With some Pay-Day Lenders, a business owner can probably receive loan approval and loan disbursement, or money in the bank, within hours of making an application. There may even be less paperwork, but borrowers need to read the fine print on their application. Many of these loans come with very high interest rates, sometimes exceeding 600% per annum. For those with poor credit, in some cases, the interest rate is $10.00 to $30.00 per week, every week, for every $100.00 borrowed. However, there are both brick-and-mortar and on-line lenders who participate in the Small Business Administration’s loan guarantee program. Short-term loans are available, at somewhat higher interest rates, but not the predatory interest rates noted above. Depending on your definition of “short-term,” the SBA’s most popular program is the 7(a) Loan Program. The SBA works with banks and other financial institutions to offer low-cost loans for most business purposes, including working capital, refinancing, equipment and other reasons. While the SBA does not directly loan money under the 7(a) loan program, it guarantees a portion of the loan and sets limits on the interest rates, fees and term lengths the financial institutions can offer. The maximum rate varies based on the term length and the borrowing amount but, as of July 2022, for a loan amount of $25,000 paid off in less than seven years, there is an interest rate of 11%. SBA Express and SBA Export Express loans (loans with an accelerated turnaround time) have slightly different rates. Currently, the maximum rate for Express loans of $50,000 or less is 11.25%; the rate for loans above $50,000 is 9.25%. The bottom line is to research the lender, their business practices, what they offer and how you will completely pay the loan off without losing sight of the reason you borrowed the money in the first place. The next question asked was, “Is it safe to use an online lender?” The answer is that safe is relative and relevant. It is safe if you can verify that the lender is ethical, legitimate and licensed. If you are unsure, once you have found the lender on-line, check with the attorney general’s office to make sure what you read on-line is what they are aware of, too. During the response to the pandemic, SBA funded millions of loans, many of which were done through on-line applications, at both brick-and-mortar and Fin-Tech (on-line) lenders. The final question was, “How can I tell whether a short-term loan is the best option for me?” The answer here is if you know your business, that decision should be an easy one. If you are uncertain, please seek assistance from an SBA-funded resource partner. There is never any charge for small-business counseling and information is always available at www.sba.gov, where you can find information on the SCORE Association; America’s Small Business Development Center Network; Women Business Centers, now located in all 50 states; Veteran Business Opportunity Centers; and SBA’s new Community Navigator Pilot Program, which has community-based organizations helping to reach the nation’s smallest businesses, with a priority focus on those owned by socially and economically disadvantaged individuals as well as women and veterans. It is exciting for me to participate again this year with In Business Accounting & Tax Services Magazine as they launch the 2022 Small Business Guide, because it is Alternative Funding such a useful directory for local and area businesses.

July 2022 Issue of In Business Magazine

Articles inside

Assets

Nonprofit

Roundtable

The Future of Work: Dynamic Environments

En Negocios

Books

Domain Hijackers Prey on Business Websites

CRE

From the Top

Guest Editor

Feedback

Healthcare

Startups

Briefs

Technology