Honor is what motivates our team of dedicated healthcare professionals. Through passion and purpose, we come together to ensure every patient is provided with the best possible care. honorhealth.com
Lerner & Rowe to the Rescue, Helping Communities in Need This month spotlighting the law firm of Lerner & Rowe, Tyler Butler’s series explores the myriad ways businesses give back and the positive ways their programs impact our community.
Executing a Business Plan with Strength and Commitment
Bruce Weber’s series examines developing and sustaining organizational capacity.
Stephen Miles explores strategies to employ in the “stagflation” that’s likely to follow the current hyperinflation.
Jeremy Nova discusses accessory dwelling units as a real estate phenomenon that can help energize communities economically.
Chris Camacho, president and CEO of Greater Phoenix Economic Council, introduces the “Jobs” issue.
Jayme DeVary, Sarah Jennings and David Shapiro respond to In Business Magazine’s burning business question of the month.
“Digital Marketing – How an AZ-based HVAC Firm Doubled Its Revenue,” “Dailies Top Stories,” “Local Standouts Recognized for Achievements and Philanthropy,” “Liability in Cyber Insurance” and “The Great Breakup – Women in Leadership”
Data breaches are not the only cyber threat, as businesses lose money to social media takeovers.
COVER STORY
Creation: Why is Metro Phoenix the hot job-growth market? In Business Magazine explores the topic, from what’s attracting mega employers to our Valley to what that means for the future of our economy.
“Bergy Bag: Made Up for Makeup to Beat the Heat” and “Sinatra: Revolutionary Tech for Hospitality”
“Property Tech Enables Centralizing Services,” “113-Acre Mesa Industrial Park Breaks Ground,” “New Luxury Rental Community for Gilbert” and “Construction: Key Trends Expected to Shape the Industry in 2023”
Cover Photo: Job seekers wait for call-back interviews.
Jeremy Eskenazi explores how a self-motivated and conscious curiosity drastically improves recruiting skill.
Arizona is the No. 5 best state for hiring as the unprecedented hiring crisis worsens, according to CareerCloud’s recently released study “Best States to Hire Workers,” which used data from the Census Bureau, BLS, Tax Foundation and the St. Louis Fed. The study also ranked Arizona No. 10 for job openings. careercloud.com/news/best-and-worst-states-to-hire-workers
For over 40 years, the Arizona Community Foundation has supported nonprofits and students across our state by mobilizing the collective passion and generosity of thousands of Arizonans.
When you are ready to take the next step in your personal charitable giving journey, we are here to help you achieve your goals.
Learn more | azfoundation.org | 602.381.1400
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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.”
As editor of the Spanish section of In Business Magazine, Edgar R. Olivo shares 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 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.
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 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.
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 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 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.”
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Stephen Miles
Monica Minkel Joanne Mizell Jeremy Nova
Scott Pechersky Annie Rosencrans
Juliet Straker Richard Tollefson Bruce Weber Cooper Weissman
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Vol. 14, No. 1 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.
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Chris Camacho serves as president and CEO of the Greater Phoenix Economic Council, one of the longest-standing public-private partnerships for economic development across the country. As chief executive, Camacho leads the development and execution of the region’s strategic economic strategy; oversees domestic and international business development; and ensures the market position remains competitive through coordination with partner organizations, private-sector leaders, and municipal and state leadership.
He has led the attraction of more than 460 companies during his tenure, creating nearly 85,000 jobs and $24 billion in capital investment. Some notable projects include TSMC, Apple, Silicon Valley Bank, Microsoft, GoDaddy, Yelp, Amazon, Garmin, General Motors, ElectraMeccanica, Zoom and HelloFresh, and headquarters that include Benchmark Electronics, Carlisle Companies and Rogers Corporation. gpec.org
CHRIS
CAMACHO, GREATER PHOENIX ECONOMIC COUNCIL
Greater Phoenix is an attractive destination for workers, expanding faster than any other U.S. market with an injection of nearly 100,000 new residents annually. Employment opportunities are growing just as fast. With the announcements of more than 10,000 jobs over the last year, it’s clear that momentum is building throughout the Valley.
Massive growth in advanced industry is bolstering an innovation-centered economy, and
Greater Phoenix is emerging as one of the most dynamic economies in the world. Global brands are drawn to the region’s sense of place — a market with an elevated quality of life. Decades of regulatory policy and long-standing public-private partnerships have created a pro-business environment and workforce that supports expanding and relocating companies. That, combined with the lifestyle found in Greater Phoenix, has made this market one of the most attractive places to launch and scale a business.
Our institutions of education are becoming globally known for producing STEM talent and, at the same time, the market has invested in a modern infrastructure to support new business and make this a region that people want to call home. This growing workforce is rising to meet the demands of a diversified economy.
With an even broader take on jobs and job creation, the cover story in this edition of In Business Magazine explores the topic, from what’s attracting these employers to our Valley to what that means for the future of our economy. The significance of what’s happening here attracted the attention of the President of the United States, Joe Biden, who recently came to speak at the Tool-In ceremony for Taiwan Semiconductor Manufacturing Company — one of the employers of note in this article, representing the largest direct foreign investment in Arizona history.
In another look at the economy, as Stephen Miles cautions in his feature article “If You Are Reading This, You Are Already Behind,” there is a new business climate that will require a drastically different toolkit. He discusses the need for CEOs and their leadership teams to figure out a new way to lead and win. And the Economy feature looks specifically at interest rates as Ryan Frette discusses “Strategizing around Volatile Interest Rates.”
Environmental issues are intruding more and more into business decisions, and Henry R. Darwin, a former EPA executive and state environmental director, offers tips in his legal feature, “How to Respond to an EPA or State Enforcement Action.” On another front, while cyberattacks continue to plague businesses, this month’s “By the Numbers” feature shows another threat: social media attacks.
Providing readers with a range of business-relevant stories, from healthcare to commercial real estate and from finance to leadership, In Business Magazine continues its mission to help strengthen and grow our business community. I’m pleased to have been part of bringing this January edition to you. Wishing you a happy new year,
Sincerely, Hot Hiring, Hot MarketDON’T MISS OUT!
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HomeSmart Sector: Real Estate
There are many things we do at HomeSmart that results in retention, but one standout item is our culture. We have a culture that we call “Bamily”— our business family. People can feel the team’s support from day one. We are an innovative and collaborative company; we all come together with different backgrounds and experiences to create a winning environment. Recently, we asked HomeSmart employees to provide one word to describe the company. “Awesome,” “inventive” and “exciting” were a few that stood out.
Additionally, we participate in events throughout the year to strengthen the bamily culture. We have a grill-out during March Madness with the games playing on our TVs, lunches catered twice a week, an employee happy hour with karaoke and prizes, and spirit days throughout the year. One of our biggest spirit days is on Halloween, and the display of creativity and teamwork throughout the different departments is nothing short of intense!
A lot of this information is used in attraction of candidates and future employees as well — every ad for an open position has a link to the culture video.
For all past Feedbacks go online to inbusinessphx.com and see what Valley executives think on various business topics.
JAN.
With 20 years of experience in human resources and a background in the hospitality industry, Jayme DeVary knows a thing or two about the people experience. She came to HomeSmart in 2016 after working in the human resources departments at the Hyatt Regency Scottsdale, Grand Hyatt San Diego, The Arizona Biltmore, the Westin Kierland and Desert Mountain golf club.
SARAH JENNINGS Chief Operating Officer QuickPass Sector: Services
Employees have definitely been a challenge to hire and retain as of late, but one thing we stress at our company is the entrepreneurial spirit that exists here. We live by the equation of A + P = E (Attitude plus Performance equals Employment). If those two things are in balance, you have a great employee. Specifically in 2021 and 2022, we hired mostly for attitude, as you can’t teach that.
There is no micromanagement; creativity and empowerment are encouraged. I have also found that having an open space and encouraging two-way communication is key. If employees feel heard, they generally want to work hard for their leader.
As their leader, I refrain from sharing many personal stories and socializing outside of business hours. I want to be relatable, but you cannot be their friend and then expect them to take feedback when it is given.
Lastly, hosted birthday lunches are a nice bonus. We sit around our conference table and connect on a more personal level. They usually start talking about what we are having about a week in advance!
QuickPass quickpass.us
My name is Sarah Jennings and I am the chief operating officer of QuickPass, a family-owned and -operated access control company that services gated communities across the United States. My father owned a larger residential and commercial security company here in the Valley and sold that in 2014, but kept QuickPass and gave me an opportunity to run that. It has been a wild but fun ride!
Shapiro Law Team understands that company culture is a direct reflection of our company’s values. We pride ourselves on creating a work atmosphere that is unique, fair and enjoyable. We treat and hold each employee to the same Shapiro standard regardless of title or position.
At Shapiro Law Team, we value each employee individually and understand that each person contributes to the success of the firm. We firmly believe in loyalty and building strong and lasting relationships with our staff and clients. We take care of our employees and truly care about them, their well-being and their families.
Our firm, formerly known as David Shapiro Law PLLC, changed our name to Shapiro Law Team in 2022 because Shapiro recognizes the “incredible team behind him; we all fight together as a team for our clients and that’s the way it should be.” This has been the philosophy of the firm since its inception and has been instrumental in Shapiro Law Team’s ability to retain and recruit the top attorneys, management team and support staff.
David Shapiro is an accomplished attorney who devoted his career to representing injured people against wrongdoers and irresponsible parties. Licensed to practice in Arizona and New Mexico, he has helped countless injured clients and their families recover substantial verdicts and settlements. Shapiro also volunteers in the community, participates in philanthropic events, and donates to charitable causes that promote positive change.
Sign up for the monthly In Business Magazine eNewsletter at www.inbusinessphx.com. Look for survey questions and other research on our business community.
In retaining your employees, what have you found they value most about your company? Is this the same or different for attracting new employees?
The heating, ventilation and air conditioning (HVAC) market in Arizona is highly competitive. In fact, according to IBISworld.com, there are nearly 124,000 HVAC firms across the nation representing a $123 billion market. Due to its hot and arid weather, little to no rainfall and huge population growth, the Southwest — including our fine state — is top in the nation for HVAC businesses, especially the AC part.
Two years ago, the 30-year-old, familyoperated company Temperature Control enlisted the help of digital marketing leader MTA360 to apply its online marketing knowhow to expand its business.
Scottsdale-based MTA360 designed a comprehensive digital campaign rooted in search engine optimization because people looking for HVAC services take to Google. They grab their smartphones, jump online and search for “best air conditioning installer near me,” and similar phrases.
SEO was crucial to getting Temperature Control to the next level. The MTA360 team built an SEO-ready website, set an always-on SEO strategy that includes strategic backlinks and proprietary software technology with an AI Chatbot function at the new website and Google Reviews software. The new website was also promoted by online advertising.
Here’s generally how such a program works. Google ranks a site for its popularity (website traffic), relevancy and authority
(trustworthiness). Google Reviews and strategic backlinks drive Temperature Control’s website authority. As people Google “HVAC” or “air conditioning services,” the search engine serves up Temperature Control’s website in the results, while paid media delivers ads. The prospective customer clicks on Temperature Control’s site and the AI Chatbot engages with them and turns those visitors into real business.
The AI Chat feature drove an average conversion rate of 60%, the percentage of website visitors who scheduled a face-toface appointment with a Temperature Control representative. Those appointments turned into business. The cost per lead was less than $25, where the industry average is about $300 in the HVAC industry.
The success has been stunning, with the firm doubling its revenue across the past two years to beyond $10 million.
“Our digital marketing investment truly paid off,” says Temperature Control owner Tony Bohard. “For a hands-on businesses like HVAC or others in home improvement, it can be challenging to understand the digital world. But for our type of business, it’s truly where our prospective customers get their information. It’s a win for our business and the people looking for our high-quality services.” —Aaron Ayotte, business development coach at MTA360
MTA360 mta360.com
Temperature Control temp-con.com
AI Chat drove an average conversion rate of 60% turning website visitors into a lead, where there was an appointment resulting in business.
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
Leadership & Management | Cover Story | December 2022
Each year, we select top leaders who have had great successes in the past year. This year we selected 19 leaders in many established sectors within our business community. We asked some hard-hitting questions of these leaders to get a sense of what they see for 2023. Each of them is truly entrenched in growing their companies and our economy, in developing policy, managing people and growing business through innovations that have had a positive effect on our business community.
Commercial Real Estate & Development | CRE | December 2022
In the not-so-distant future, the Phoenix West Valley will look dramatically different from how it does today, thanks to Arizona’s largest master-planned community: Teravalis.
The Howard Hughes Corporation recently broke ground on the 37,000-acre project of Teravalis, formerly known as Douglas Ranch, located in north Buckeye between the White Tank and Belmont mountain ranges. Strategically positioned in the pathway of growth, Teravalis is designed to meet the ongoing demand for quality housing in one of the nation’s fastest-growing cities.
Positions | inbusinessphx.com | December 6 2022
inbusinessPHX.com
Anna Maria Chávez will join the Arizona Community Foundation as President & CEO in February 2023 following a national executive search process conducted by Carlson Beck and the ACF CEO Search Committee.
Accounting & Operations | Books | December 2022
by Mike Hunter
No one likes to pay taxes. And everyone hates paying more taxes than they need to. Yet, each year, Americans make billions of dollars in tax overpayments.
Continuing its streak since 2016, Delta Dental of Arizona earned BenchmarkPortal’s Center of Excellence certification in 2022, one of the most prestigious awards in the customer service and support industry. BenchmarkPortal also awarded Delta Dental of Arizona in 2022 the “Top Contact Center,” “Lowest Abandon Rate” and “Best Agent Retention” titles.
benchmarkportal.com • deltadentalaz.com
Along with a $250,000 donation that Google.org made to United Food Bank, dozens of volunteers from Waymo and Google packed food boxes for the food bank. Autonomous Waymo Via trucks transported the boxes to a warehouse for distribution to families throughout the Valley. Google’s donation was part of a national initiative where Google. org donated $10 million to Feeding America (United Food Bank falls under this organization and is the local food bank) to deliver 50 million meals nationwide this holiday season.
unitedfoodbank.org • waymo.com
LevRose Commemorates Milestone with 30 Days of Giving Commercial real estate company LevRose recently commemorated its 30-year anniversary with 30 days of giving, volunteering and donating $10,000 to local deserving charities: Children’s Cancer Network, Rio Vista Center and AZ Power Paws. Since its inception, LevRose has grown from a two-person vision to a 36-person company and completed approximately 7,000 transactions.
levrose.com
Harrah’s Ak-Chin Casino Donates $15,000 to F.O.R. Maricopa
Staying true to its commitment to support nonprofit organizations throughout Maricopa, Harrah’s Ak-Chin Casino — through its community outreach program H.E.R.O. — recently donated $15,000 to F.O.R. Maricopa, a local nonprofit organization that provides food, opportunity and resources to the Maricopa community. Among its many awards, Harrah’s Ak-Chin has earned a Volunteer Service Award from the Arizona Governor’s Commission on Service and Volunteerism. harrahsakchin.com
As the cyber insurance landscape evolves at a rapid pace, underwriter diligence has increased. Many insurance carriers have become more precise with their questions, especially those related to the implementation and utilization of multifactor authorization and related risk mitigation strategies. Improperly responding to application questions can jeopardize coverage in more ways than one.
It can be very difficult to respond to the complex, multi-part questions that are part of the application process. A straightforward “yes” or “no” may not apply because today’s technology infrastructure can be anything but straightforward. Carriers rely on these specific responses to make underwriting decisions and grant coverage. Application responses can trigger sub limits and restrictions in coverage and can also impact pricing.
To ensure accurate responses when applying for cyber insurance, it’s important that company leadership understands the intricacies of their network and cybersecurity infrastructure. Complex questions should be carefully reviewed with appropriate cybersecurity team members to guarantee optimal insight and accuracy. Technology infrastructure is complicated, and cyber insurance is only one component in a dizzying array of cyber security issues.
Many cyber liability applications, even some
renewal applications, have a “warranty statement” effectively certifying the accuracy of responses. An inaccurate statement can be interpreted as a breach of this warranty. Failure to respond to questions on the application accurately and in good faith can leave an insured vulnerable to a rescission action.
A carrier that believes an insured intentionally or willfully misrepresented important information can request rescission of the insurance policy. A recission action will void a cyber insurance policy as if it never happened.
Thankfully, rescission actions are rare and require court intervention. For rescission to be granted, there typically must be proof of an egregious act of intentional fraud or material misrepresentation on the part of the insured. However, it is important to understand that the act of certifying an inaccurate application can create significant coverage issues.
Working with a knowledgeable, specialist insurance broker can provide guidance in these uncertain times. Cyber liability insurance can be tricky, but careful consideration to the questions on the application can help companies avoid unnecessary drama. —Monica M. Minkel, vice president and executive risk enterprise leader at Holmes Murphy (www.holmesmurphy.com), an independent insurance brokerage
Results of the McKinsey & Company’s Women in the Workplace 2022 report has given rise to the term the “Great Breakup,” which refers to the emerging trend of women in senior positions leaving companies at strikingly high levels if their demands and requirements are not met. The report exposes a catalogue of failings by employers toward women, ranging from permitting hostile corporate cultures to discrimination and prejudice. Women also appear to be disproportionately affected by the emerging trend of remote and hybrid work — a benefit they value in order to achieve work-life-balance. This is leading to a culture of presenteeism driving unequal access to mentorship and advancement for them. They also cite doing the lion’s share of unremunerated work to support DE&I and employee well-being, the cornerstone of retention and employee satisfaction.
Companies looking to keep and attract more women for senior leadership roles need to fundamentally rethink approaches. To make
Why Google Supports Food Banks
meaningful and sustainable progress toward gender equality, companies need to start by getting more women into leadership. Thereafter, they need to take highly targeted steps to mitigate and improve people management of this group. It requires knowing individuals at scale and productively catering for them.
Ultimately, companies want to empower this cohort to bring their voices and innovations to the table. Good HR is key. It holds a wealth of people data that could be used to not only identify the largest gaps in promotions but also help create the work climate that women in leadership are calling for. Collecting and analyzing this data is a huge undertaking, but technology can assist in automating tasks for HR leaders and producing actionable insights. With the war on talent still raging, it makes sense for businesses to do everything possible to put in place a framework designed to attract and retain this valuable cohort of talent. —Annie Rosencrans, people and culture director at HiBob (www.hibob.com)
• In Arizona, the top searched Google term “apply for” in 2022 was “apply for food stamps.”
• “Where to donate food near me” saw an increase of 1,350% in Google searches.
•Searches for “food bank donation” increased by more than 100% over the last five years.
Seventy percent of small businesses believe they are ready to protect against a cyberattack or recover from a data breach. This fact is among the findings in the 2022 Business Impact Report recently published by the Identity Theft Resource Center® (ITRC), its second annual report on the impacts of identity crimes and cyberattacks on small businesses and solopreneurs.
According to the responses, cybersecurity incidents targeting small businesses increased by 61% during the pandemic years 2020 and 2021 but have dropped slightly in the past 12 months. Fewer than half (45%) of small businesses reported a security breach, data breach or both, down from the 58% that reported a cybercrime in the 2021 report.
Overall, more than 45% of small businesses lost revenue due to a cybercrime. Generally, small businesses lost less money as a result of a cyber incident in the last year, with one key exception — victims of social media account takeover. (Companies paying less than $250,000 grew by 11 percentage points; businesses paying $250,000–$500,000 dropped six points over the previous year.) In fact, 50% of small businesses surveyed reported losing control of a social media account to a cybercriminal, with 87% of the victims losing revenue generated by the account. More than one-third (34%) of victims lost between $1,000 and $10,000.
What data was compromised 2021 2022
Customer/Consumer data 49% 50%
Employ ee data 51% 52%
Company intellectual property 16% 26%
All of the above 0% 24%
Which accounts were compromised
Instagram 38%
Facebook 31%
YouTube 11%
LinkedIn 6%
TikTok 6%
WhatsApp 5%
Snapchat 3%
Google Voice 1%
Fewer small businesses reported experiencing a data breach in the past 12 months (23%), a two-percentage point decrease from 2021. However, the number of small businesses reporting a first-time breach jumped 17 points from 2021. Nearly 30% of small businesses lost customer trust and had difficulty responding to customer concerns. More than 40% of small businesses struggled to understand what happened and why it happened. After investing in more security tools and training, 70% of small businesses said they were ready to protect against a cyberattack or recover from a data breach.
Another notable finding in the “2022 Business Impact Report” is that small businesses relied more on cyber insurance and existing credit lines to cover the costs associated with a data or security breach (40% — a 12 percentage point jump in using insurance proceeds and a seven-point increase in existing credit use). Also, 35% of small businesses reported returning to pre-breach performance levels within one year, a 13-percentage point increase. Most companies (41%) still required one to two years to fully recover.
What was the approximate total financial impact 2021 2022
Less than $250,000 31% 43%
$250,001–$500,000 44% 38% $500,001– $1 million 16% 14% More than $1 million 5% 5%
Revenue loss as a result of the social media takeover
Less than $100 18% $101–$250 11% $251–$500 18% $501–$1,000 14% $1,001–$2,500 9% $2,501–$5,000 12%
$5,001–$10,000 13% More than $10,000 5% Other 1%
How long to return to pre-breach levels of performance 2021 2022
Less than a year 22% 35% 1–2 years 42% 41% 3–5 years 28% 19% Have not fully recovered 7% 4% Other 1% 0%
How long to recover compromised accounts
Less than 1 day 10% 2–7 days 43% 8–30 days 36% Still not resolved 7% Could not recover the account 4%
Source: bit.ly/3FYgjZo
The ITRC, with the assistance of SurveyMonkey, conducted two online surveys in August and September 2022 to explore the impacts of cybercrimes on small businesses as defined by the U.S. Small Business Administration. Questionnaires were completed by 447 individuals that met the criteria of being a person in a leadership position or an IT professional at a company of 500 or fewer employees, including solopreneurs.
Founded in 1999, the Identity Theft Resource Center® (ITRC) is a national nonprofit organization established to empower and guide consumers, victims, business and government to minimize risk and mitigate the impact of identity compromise and crime. It offers a range of low and no-cost tools to help small businesses.
Through public and private support, the ITRC provides no-cost victim assistance and consumer education through its website livechat and toll-free phone number, and offers help to specific populations, including the deaf/hard of hearing and blind/ low vision communities.
The organization also equips consumers and businesses with information about recent data breaches through its data breach tracking tool, notified (www.idtheftcenter.org/ notified).
idtheftcenter.org
In the 2022 Business Impact Report recently published by the Identity Theft Resource Center® (ITRC), half the respondents reported their company’s social media accounts were compromised in the past year, and 87% of those businesses lost revenue. idtheftcenter.org
While cybersecurity incidents targeting SMBs are down, social media takeovers result in stolen income
The ice pack has its own pocket that doubles as a room key holder. The sleeve behind the “Brrr, it’s cold in here” pocket is the V.I.P section for a cell phone. The specially sized and branded ice pack comes with every purchase and extras are sold separately.
“Make up can be expensive. We want to protect it from getting ruined and having to be replaced,” says Bergy Bag founder Heather Dziedzic. “Also, who loves wiping up melted lipstick off the sides of our makeup bags ... not it!” So, she designed a fashionable cosmetic bag that keeps cosmetics or skin care — or anything that can melt or needs to stay cool — from melting or becoming comprised. “I was tired of borrowing my daughter’s emoji-insulated lunchbox to keep my expensive cosmetics cool and safe from meltdowns,” she shares. Bergy Bags are made with scratch- and water-resistant leather and the uniquely designed insulating layering holds up for up to four hours. And they can serve as well as a clutch after sunset.
Dziedzic’s biggest challenge was translating what was in her head to a sellable product. “Because I had no experience in the field of designing and manufacturing, I had to learn through networking, research and industry coaching,” she says, with appreciation to the many manufacturers and suppliers who coached her through the process. She founded the company in 2019 and began sales this past fall.
“Push your project along every day” she credits as the most valuable piece of advice she was given. “The second one is
something my manager told me in my 20s while I was working in marketing for an enterprise software company: ‘Before you do everything else that you need to get done in a day, I want you first to do what is going to get us paid. ‘” In the early days at Bergy Bag, she says, that was to “get the bag here to sell.”
Dziedzic has applied for a provisional patent, and plans to expand the line to include different sizes and shapes, accessories and colors. —RaeAnne Marsh
Bergy Bag bergybag.com
Adam Laor is a prodigy, now barely 20, whose entrepreneurial successes include founding the herbal supplement brand ReviverBlasts at age 16 and helping build Town Pharmacy — one of New York City’s best independent pharmacies — before he was even out of high school.
Brian Pierce is a 20-year veteran of the hospitality industry. With longtime careers at The Phoenician and the Four Seasons Resorts & Hotels, he is a leader in employee relations and a multi-time founder in the food and beverage space.
Sinatra is a platform of software and hardware tools for hospitality. The initial launch of the platform is Sinatra Training, which, being fully digitized and optimized for mobile, allows for a highly engaging experience that is optimized for this generation of staff and offers continuous and relevant digital training.
Founders Adam Laor and Brian Pierce met and initially began working together on a ghost kitchen project in Gilbert with the goal of allowing families to pre-order dinner nightly and easily pick it up. During testing, traffic jams were predicted to be an issue, which led to the shutdown of the project. It also sparked the idea of how to hasten pickup and ultimately develop a future platform of tools for all of hospitality. They founded Sinatra in February 2021 and rolled out Sinatra Training this past October.
“Since hospitality is so large and fragmented, putting in place mechanisms to gain product distribution that can scale is key,” explains CEO Laor. To date, Sinatra has partnered with Bar & Restaurant Insurance, the largest bar and restaurant underwriter in Arizona; Arizona Liquor Industry Consultants, a spin-out from the Arizona Liquor Board, and Southern Glazers Wine & Spirits AZ.
“Many of our customers told us a big reason they don’t use technology that’s out there for restaurateurs is because it’s
built for tech people, not industry operators. We took that as a signal to over index on both building out powerful, functional software with a sleek and simple design, as well as keeping in mind every single use case for a staff member,” Laor says. “It’s really bringing the best of both worlds —tech and hospitality — together.”
The company has been developing several additional services for its platform, which it plans to launch in the coming months. —RaeAnne Marsh
Sinatra sinatra.ai
CommercialCafe’s newest 42Floors study ranks the country’s best metros to start a business in based on cost and opportunity. Among the U.S. metro areas with at least 300,000, analyzed for their potential for prospective entrepreneurs, Metro Phoenix metro is ranked No. 20. 42floors.com/news/best-us-metros-to-start-a-business
It’s impossible to attend an industry conference where the goal to centralize services is not one of the most important topics. At its core, centralization leverages technology to offload the responsibilities of various tasks to a dedicated team, increasing efficiency and streamlining processes to improve overall workflow across a portfolio. In multifamily, this allows onsite teams more time to focus on current and prospective customers, which in turn leads to a better experience for residents and prospects alike.
By now bringing in many repetitive processes to a central team, there is an opportunity to add advanced technology solutions that may have previously been cost prohibitive when decentralized to remote locations.
The first piece of technology that will become more prevalent with centralizing property operations is Robotic Process Automation (RPA). To take advantage of RPAs, there has been a need to find highly repetitive tasks and training software to replicate the user’s steps. In the past, when tasks were spread across various locations, the volume never reached a level where RPAs could be effective. Some key areas that have been identified in which RPAs can make an immediate impact are keying in data from disparate systems where integration does not exist or items such as coding invoices.
By centralizing operations, companies will have an increased ability to standardize tech processes and solutions across their organization. As any IT professional can share, the use of non-standard software systems is a common problem that exists in many organizations. Bringing more processes within the corporate environment will allow companies to ensure that recommended and optimized systems are being used to complete the job requirements.
In addition, having all these processes managed centrally by a team concentrating on these functions full-time will allow for more proactive feedback in terms of enhancing the process. Additionally, organizations should be able to strengthen their data integration between systems and even glean more information from it.
A logical next step will be to add an Artificial Intelligence and machine-learning component on top of the data being processed to help identify trends. The goal will be to not only use this data for descriptive analytics (data showing what’s already happened) and predictive analytics (data showing what’s going to happen) but to proactively provide prescriptive analytics, which is data that informs teams how to rectify future problems before they occur.
As an organization starts researching and implementing centralization, it’s important to ensure the technology department is a key part of this equation. The goal should not be to just replicate processes being done remotely, but to help find innovative platforms and solutions that will integrate with systems and help centralize operations easier. This will allow organizations to scale and is critical for laying the proper groundwork to continue evolving efficiencies and ensuring associates are spending their time doing what they do best. —Scott Pechersky, chief technology officer at RPM Living, a full-service multifamily management company offering an innovative and personalized approach to real estate services, including management, investment and development
IndiCap and AECOM-Canyon Partners are developing Eastmark Center of Industry, a 113-acre industrial park located in the heart of the Gateway Airport submarket in Mesa, Arizona. At completion, the park will total 10 buildings and more than 1.6 million square feet of mid-bay and cross-dock Class A industrial buildings.
IndiCap purchased the project site in April 2022 for $48 million, marking an entry into metro Phoenix and the start of a bullish expansion in the market for this company that specializes in industrial investment and development.
“The Southeast Valley has become a go-to industrial location, recording 1.5 million square feet of positive industrial absorption in the third quarter alone,” says JLL Senior Managing Director Steve Larsen, who serves as the exclusive leasing broker for Eastmark Center of Industry along with JLL Senior Managing Director Pat Harlan and Senior Vice President Jason Moore. —Mike Hunter indicapinc.com • aecomcanyon.com • jll.com
Operating at the leading edge of the build-to-rent industry, Family Development — a preferred homebuilder in California, Arizona and Texas — and tech-enabled general contractor Mosaic recently broke ground on Town Germann, a gated, build-to-rent community located in Gilbert, Arizona. The 14.5-acre property will consist of 209 luxury, two- and three-bedroom townhomes ranging from approximately 1,192 to 1,379 square feet. Rents are anticipated from $2,600 to $2,900.
Town Germann’s sought-after amenities will include a central resort pool and spa, barbecue area, fitness center, large central park, ramada, dog park, multiple pocket parks and walking trails. —Mike Hunter familydevelopmenthomes.com • mosaic.us
Noting that multifamily development naturally creates an increased customer base for self-storage, RentCafe analyzed the growth of both over the past decade. According to its report, the Phoenix metro area ranks fifth for both self-storage and multifamily construction in the past decade, among the 100 markets analyzed. rentcafe.com/blog/self-storage/self-storage-and-apartment-construction-in-top-100-metros
In its fourth quarter Construction Delivery Outlook report, leading national design-build firm LGE Design Build examines key trends in construction labor, supply chain, material costs and demand to determine what will define the industry in 2023.
“Amid the speculation and uncertainty of a looming recession, this report provides critical insights that can help guide leaders within all sectors of the construction industry so they can make informed decisions for their businesses and their teams,” says David Sellers, president and CEO of LGE Design Build, which has been a leader in the Southwest’s commercial market for close to 30 years. “Demand for non-residential construction has slowed and is expected to do so into the new year. However, e-commerce sales and industrial demand in our markets has remained strong, which gives reason to be hopeful that the commercial construction sector is stable enough to withstand the otherwise bleak economic forecast.”
A summary of the Construction Delivery Outlook key findings include:
The construction unemployment rate is still below pre-pandemic levels but the demand for skilled workers remains. Despite the economic challenges presented in the first half of the year, general contractors and subcontractors are still looking to fill positions. The struggle to hire contributes to rising project costs and overall delays, which are expected to continue into 2023.
From September to October 2022, the construction unemployment rate rose from 3.4% to 4.1%, which is still well below the pre-pandemic mark of 5.5%. Only 1,000 positions were filled in the construction sector in October as the skilled trades continued to struggle to fill roles that were vacated by older workers who opted for early retirement during the shutdown. In fact, approximately 1 million apprentices will be needed by 2023 to fill the vacant positions in skilled trades.
Supply chain issues across water and land continue to improve, giving the construction industry cause to be optimistic into the new year. However, certain materials remain difficult to source and the long lead times put additional strain on the industry. The Los Angeles and Long Beach ports are currently seeing an average of nine ships waiting in their harbors, although
this pales in comparison to the record 109 vessels at the peak of the congestion in January 2022.
Additionally, due to a high retirement rate that is not being offset by a younger generation entering the field, the trucking industry is still in need of 78,000 drivers. This labor shortage is consistent throughout the nation, as well as on a global scale.
Recent legislation, including the Infrastructure and Jobs Investment Act and the U.S. Maritime Administration’s Port Infrastructure Development Program, should eventually alleviate some of the remaining stress on the supply end.
With demand for certain sectors cooling off, many material prices continue to either stabilize or drop. While factors such as geopolitical instability, inflation and gas prices are expected to continue to add strain to the supply chain, these obstacles are not impacting material costs to the extent that they were in early 2022.
In fact, there has been a stark improvement in the cost of steel mill products and lumber since May 2022. Aside from July, when lumber leveled off, both have steadily declined in the last six months. And, while cement, concrete and flat glass prices continue to rise and copper prices remain high, the overall costs have begun to trend back downward.
The annual rate of non-residential construction dipped by 15.3% during the third quarter, reflecting the anticipated response to the Federal Reserve raising interest rates. However, demand for the industrial product type remains strong.
The rise of e-commerce sales since the beginning of the pandemic has been a key catalyst for industrial growth and e-commerce sales are expected to surpass $1 trillion this year, highlighting the lingering demand for warehouse space. In the Phoenix metro area, there is more than 46 million square feet of industrial construction taking place, making Phoenix second only to Dallas, with just shy of 67 million square feet under construction. On a national level, the industrial pipeline is at a record 689 million square feet.
Architectural teams are also facing unique obstacles caused by construction unemployment, supply chain issues and material volatility. These teams are tasked with conceptual design, preliminary pricing, entitlements, construction documents and construction administration through completion. Many of these crucial steps are experiencing long lead times caused by heavily booked due diligence consultants, everchanging design expectations from municipality Design Review Boards, and increasing entitlement and permit review durations.
LGE Design Build lgedesignbuild.com
Over the past five years, LGE has significantly expanded its footprint, with 343% revenue growth and a current pipeline of $1.7 billion in contracted projects across the Southwest. As the only large-scale design-build firm in Arizona, the company has recently earned industry recognition that includes the RED Awards’ “2021 General Contractor of the Year.”
Traditional real estate investment approaches are being challenged. Investors need a fresh perspective and a focus on flexible, sustainable, technology-driven assets to build resilience and shape the future of real estate. We partner with investors to help them reposition, diversify and repurpose their assets and portfolios to enhance performance and drive returns. Let’s shape the future of real estate.
• Sawyer Aviation was originally founded by Darrel Sawyer in 1961.
• Sawyer Aviation was honored by Inc Magazine on the 2022 Inc 5000 fastest-growing companies.
• Sawyer Aviation has experienced 490% revenue growth since 2019.
During the summer before entering college, Chad Verdaglio took an intro paraglide ride and immediately knew he wanted more. After researching programs in the area, the Scottsdale resident discovered Sawyer School of Aviation, a highly respected flight academy that was founded in 1961 and operated out of Scottsdale Airpark. Verdaglio’s goal was to earn a private pilot’s license. He spent weekends and school breaks for the next few years earning his instrument rating, commercial rating, multi-engine rating and, eventually, an instructor certification.
Fast forward to his post-college years with a bachelor’s in business in hand, Verdaglio worked in tech before applying to graduate school. Once again, he found himself looking for something to do for the summer before heading to the University of Pennsylvania to get an MBA from Wharton. He took the opportunity to focus again on his piloting skills. After seeing an ad in the local newspaper for a position at Sawyer Aviation, he returned to the flight academy and was offered a position as an instructor. What started as a summer job led to a full-time position, prompting the decision to put his MBA pursuits on hold. Ultimately, Verdaglio was presented with an opportunity to buy Sawyer Aviation. He couldn’t refuse.
There’s a quote from Sun Tzu that Verdaglio often cites. Tzu states, “Opportunities multiply as they are seized.” This aptly explains his approach to life and business as owner and president of Sawyer Aviation since 2002.
While the aviation company started as a small private charter company and flight academy, Verdaglio has spent more than two decades navigating through economic highs and lows and seizing opportunities. Today, the full-service aviation company specializes in private jet charter and medical flights. In early 2021, Verdaglio added SawyerMX to the mix, which offers 24/7 airplane maintenance services, and added operations out of Van Nuys airport as well.
Verdaglio is the first to admit the aviation industry is tough. The recession in 2009–2011 presented one of the biggest challenges. Demand for private aircraft and private charter flights plummeted, as people struggled to keep their businesses afloat and remain in their homes. “Generating revenue in a luxury market is difficult when people are not buying luxury,” says Verdaglio.
Verdaglio explains, “Working through difficult times forces you to face reality. At that time, we had to cut costs wherever possible and get creative with how to generate revenues.”
Pushing forward spurred Sawyer’s expansion of medical flight charter services, along with aircraft management and sales
Verdaglio has a patent pending for his invention of HALO, a device used to transport organs.
offerings. Verdaglio adds, “Diversifying and pursuing new revenue paths can get you through the downturns.”
Securing funding for an additional 50,000 square feet of hangar and office space at Scottsdale Airpark was completed in early 2022. The added space is used for plane management and maintenance. It also allows Sawyer Aviation to offer its clients private hangar space, room to host events, training sessions and additional offices for its employees and instructors.
When the pandemic hit in 2020, the travel industry took a big hit. Commercial airlines and airports sat nearly empty, Verdaglio seized the opportunity to expand Sawyer’s private charter offerings and grow its fleet through its shared management program. The benefits of flying private and private plane ownership offer new appeal; no shared crowded spaces, canceled flights or lost luggage. Today, the wait to purchase a private aircraft is as much as two years. However, there are financial incentives for business owners and companies that make the investment.
As the travel industry returns to pre-pandemic demand, increasing fuel costs, supply chain issues and pilot shortages present a new set of challenges. “Building strong relationships with suppliers is important through good times and bad,” explains Verdaglio. “It’s also imperative to invest in people.” In late 2021, Sawyer Aviation hired an HR expert as its chief of people to help further develop the company’s culture and to attract and retain skilled pilots and support staff.
In addition to leading the company, Verdaglio continues to enjoy his passion for flying. While strategizing the future for the company, he still spends a portion of his time soaring above the clouds. Whether it’s flying a business executive, a family on a private charter flight, or an organ transplant team with a kidney or a heart — he is taking Sawyer Aviation, its clients and its team where they need to go.
Sawyer Aviation sawyeraviation.com
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.
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
When an employee is going through a medical event, the last thing on their mind should be anxiety about how to interpret their health insurance benefits or medical bills. Yet for many, medical benefits and billing statements are difficult to understand. In fact, most people with health care debt say they believe their medical bill had an error (e.g. a charge for something that should have been covered by their health insurance, or a bill for something they already paid).
Complications like these can have serious consequences for employees’ physical and financial health if they delay care or bills are sent to collections. Fortunately, Arizona-based health insurer Banner|Aetna recently launched a “frictionless billing” program to address common billing pain points. As a joint venture between an insurer and a leading hospital system, Banner|Aetna is in a unique position to develop solutions that make the healthcare experience better for plan members.
Frictionless billing gives individuals a clearer picture of their insurance coverage and care costs from most Banner Health providers in a single, consolidated statement. Members also receive automated status updates as their claim processes, keeping them informed along the way. Plus, if questions arise, Banner|Aetna’s dedicated team of customer service agents are available to assist members with questions about provider bills or their coverage, eliminating the need for back-andforth calls to insurers and care providers.
This program offers a streamlined payment experience and reduces confusion so employees can focus on their health, and is one of Banner|Aetna’s innovative employee benefits by which employers can gain a competitive edge in a challenging labor market. —Joanne Mizell, chief operating officer of Banner|Aetna
Phoenix’s preterm birth rate is 10% and continues to trend upward, which can be attributed to the greater availability of fertility treatments along with the rising age of new mothers across the country. However, this spike in preterm births is not without risk. Recent data from the National Institute of Health found that women who receive infertility treatments are more than twice as likely to deliver preterm and have a higher probability of delivering twins or triplets. Neonatal intensive care can cost families upward of half a million dollars — adding to an already stressful time in their lives.
To some Arizonians, fertility treatment is still likely perceived as a specialty that is not covered by their health insurance. Employers are aware of this and of how offering fertility benefits as part of their employee benefits package can be lifechanging for families. In recognition of the challenges employees face in their personal lives, more and more employers have chosen to add fertility care to their benefits programs. These benefits offer employees increased access to fertility treatments, including IVF, specialty doctors, male fertility care and post-birth care. These expanded benefits, which provide care and support for employees and their families, can be a factor in attracting and retaining talent while building loyalty among longtime workers. However, offering fertility benefits (carrying the associated increase in preterm deliveries) may be a challenge, particularly for local employers who are left to cover the rising cost of employee healthcare. There are solutions for Phoenix employers to mitigate and reduce these preterm care high healthcare costs while also ensuring parents, families and babies receive the best treatment available.
Clinical programs and technologies are also impacting healthcare costs. While it’s not possible to remove all the potential risks that can result in premature births from increased fertility treatments, improvements in technology have reduced the risks for families and reduced other complications that can lead to high-cost claims. However, preterm births continue to be a primary driver for high-cost claims. According to recent data from SunLife, a leading provider of fertility benefits, in examining the highest-cost claim conditions for 2021, newborn and infant care remains the fifth-highest claim expense from 2018 through 2021, with higher-cost claim amounts
held only by diseases like cancer. Additional data from March of Dimes Arizona insurance report card, shows how the preterm birth rate has worsened over 2020 into 2021 in Arizona.
There are new resources and tools to help families determine what kind of medical care they need and the best places to receive it depending on the coverage and location in the Phoenix area. Many tools are available through carriers, brokerages and third-party administrators (TPAs). Additional tools can provide insight into the value proposition of different insurance programs, providing employees with the decision-making tools and algorithms embedded in the enrollment program to select the plan that best fits their needs. Companies are becoming more technology agnostic and open to featuring these third-party tools, welcoming and encouraging more scientific advancements within healthcare that will undoubtedly aid their employees in achieving their personal health goals.
Fertility benefits are an important, innovative and inclusive way to attract and gain the loyalty of top talent in the Phoenix area. For employers looking to offer this benefit to employees, there are ways to mitigate the expense while ensuring that families receive quality care through careful consultation with insurance brokers to develop robust benefits plans. However, there are a number of challenges to consider when choosing whether offering fertility benefits is the right choice for their employee benefits program. It is extremely important to carefully consider a strategic partner who knows the marketplace, as well as how to navigate a system fraught with nuances and complexities. —Jordan Cook, a Phoenix-based, experienced benefits advisor for local employer NFP (www.nfp.com), a leading insurance broker and consultant providing business and personal insurance, group benefits, retirement and individual solutions through its licensed subsidiaries and affiliates
According to recent data from SunLife, a leading provider of fertility benefits, in examining the highest-cost claim conditions for 2021, newborn and infant care remains the fifth-highest claim expense from 2018 through 2021, with higher-cost claim amounts held only by diseases like cancer.
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.
We must remain vigilant and always be thinking about how to handle the next wave of cyberattacks. While external bad actors, ransomware and other malware, are the most common threats, malicious or even careless employee actions can also present cybersecurity risks. In other words, it is virtually a given that at some point most will suffer a failure, disaster or cyberattack. However, given the world’s economic and political climate, the customers I speak with are most concerned about their ability to detect and recover from a malicious ransomware attack.
My advice to these customers is that, beyond protection, organizations must be able to detect ransomware as early as possible to stop the threat and ensure their ability to remediate and recover. A backup solution that includes anomaly detection to identify changes in an environment that warrants the attention of IT is a must. Administrators must be able to tailor anomaly detection to their business’s specific systems and workflows, with capabilities such as customizable filtering and thresholds for each of their backup policies. And those anomalies must be immediately reported to management, as well as aggregated for future ML/ analyzing purposes.
Of course, the next step after detecting the anomaly is providing the ability to recover in the event of a successful ransomware attack. This is best accomplished with an immutable backup copy of data (a.k.a., object locking) which makes certain that the data backup cannot be altered or changed in any way. —Brian Dunagan, vice president of engineering at Retrospect, a StorCentric Company (www.retrospect.com), speaking as part of a collaboration involving Cybersecurity and Infrastructure Security Agency and the National Cybersecurity Alliance to lead a collaborative effort between government and industry to raise cybersecurity awareness
WeiDev is a software development firm specializing in blockchain development. Blockchain development is the creation of products or applications that use blockchain technology to increase security or transparency. The blockchain network is most easily articulated as a system that records information that is nearly impossible to change or hack. Many people have tried to create digital currencies before, but before blockchain technology, the issue of trust has gotten in the way. Users of a digital currency have to be able to trust the fact that they will not have their money stolen by the creators or hackers, and they have to know that nobody can arbitrarily increase the supply or potentially override the system, giving themselves millions of dollars. Blockchain provides the infrastructure necessary to create and secure digital currencies; medical records; as well as nearly any personal, corporate, or unique digital assets. Understandably, companies worldwide have begun investing heavily in blockchain technology. Academic institutions like ASU, MIT, Harvard, Berkeley and Stanford have all established departments dedicated to blockchain research, discovery and applications of the technology across a multitude of industries.
At WeiDev, we develop projects that utilize blockchain technology to enhance user-specific communities. From the creation of Decentralized Autonomous Organizations (DAOs) that increase financial transparency for companies and organizations, to designing and implementing
smart contract-based authentication systems, our mission is to support our clients’ projects poised to improve our world and users’ experience through optimized decentralized technologies.
The creation of blockchain applications and software rely on experienced software engineers and their use of coding languages. For example, Solidity is one of the most popular languages used to create smart contracts, institute self-governing and execute code. Smart contracts are immutable, so they cannot be changed after they are deployed. This gives users and developers trust in the utilization of smart contracts.
Due to the fact that the industry is so new, very few developers have learned to create smart contracts. This has created a massive developer supply shortage. Many of our clients have described their frustration with the lack of accessible, affordable and U.S.-based blockchain developers. Because of these issues, many companies have to forego their projects, or accommodate middle-of-the-night calls, delayed and odd-hour email responses, overcome language barriers and, most critically, work with programmers who lack experience and knowledge about U.S. market conditions. There are so many brilliant projects sitting neglected. I want to do my part to help companies adapt to the changing landscape, which is why I co-founded WeiDev. —Cooper Weissman, co-founder of WeiDev (www.weidev.com)
Invezz ranked Arizona sixth-most ready for the adoption of cryptocurrency in 2022, based on its analysis of measures that include the number of crypto ATMs in each state, their accessibility, blockchain companies and the number of online searches for crypto. invezz.com/news/2022/11/02/us-crypto-report
by RaeAnne Marsh
Sendoso is adding nearly 1,000 jobs to its established workforce here as it relocates its corporate headquarters from San Francisco to Phoenix’s historic neighborhood The Grove.
Taiwan Semiconductor Manufacturing Company expects to create 10,000 high-paying high-tech jobs at the two fabrication facilities it is building in north Phoenix, including 4,500 direct TSMC jobs. This is in addition to the more than 10,000 construction workers who helped with construction of the site so far.
KORE Power plans to employ more than 3,000 full-time personnel at the lithium-ion battery manufacturing facility it is building in Buckeye, not to mention the estimated 3,400 workers during peak construction. The facility is expected to generate upwards of an estimated 10,000 direct and indirect jobs when it begins production this year.
Williams-Sonoma, Inc., through its new fulfillment and distribution center in Glendale, will be creating more than 2,400 jobs by 2027.
In addition to these eye-catching numbers from recent headline stories around Metro Phoenix is the strong job creation going on as smaller companies set up shop here and existing companies expand.
“Historically, Greater Phoenix’s job growth has been driven as a low-cost alternative to more expensive coastal markets, but that is evolving. Today it is the search for a better lifestyle and affordability that makes Metro Phoenix attractive to national users,” says Paul Komadina, senior managing director for CBRE. “Additionally, Phoenix has benefited from two massive industry drivers: semiconductor company growth and autonomous driving. This has driven growth for higher-wage jobs more than in previous cycles.”
To fill those jobs, Komadina observes that top talent can be found at ASU, the largest single-campus public university in the nation, where nearly 30,000 students are in STEM programs. “Additionally, Phoenix is a hotbed for learning innovation, with institutions like Arizona State University, Grand Canyon University and the University of Phoenix leveraging technology and industry partnerships to drive workforce development.”
Sandra Watson, president and CEO of the Arizona Commerce Authority, puts it even more emphatically: “The talent pool in Arizona is unmatched and is leading the country in talent attraction.” She cites the Talent Attraction Scorecard released by Lightcast, a global leader in labor market analytics, in which Maricopa County was ranked No. 1 (for the fifth time in the last six years) and Arizona as a whole was ranked in the top five for talent attraction ability. Crediting Arizona’s universities and community colleges with helping the talent pool continue to grow, she notes their workforce training programs in manufacturing, technology, automotive, aviation and more are providing hands-on training to students to prepare them to enter the workforce.
Other factors include Arizona’s streamlined regulatory environment and simplified tax system, which put businesses first, says Komadina. “Arizona emphasizes operational affordability and innovation, as demonstrated by its regulatory sandbox programs for fintech and proptech startups, support for the testing of autonomous vehicle technology, and state tax incentives that promote high-wage job creation and capital investment. With some of the
nation’s lowest corporate and individual income tax rates, the cost of doing business is attractive.”
Staffing companies, who see the landscape from a different perspective, describe the situation similarly. Says Sheri Perkins, SPHR, regional vice president of growth at EmployBridge, the nation’s largest industrial staffing company, says, “Arizona attracts many employers due to a lower cost of living, unlimited talent pool, incredible weather, low unemployment, and the wages in Arizona are significantly less inflated than in most major cities today.” She notes, also, the abundance of land surrounding all cities in Arizona, which allows for quick growth and expansion. “Finally, Arizona, under the direction of our Governor and the Arizona Commerce Authority, have worked diligently to develop employer-friendly environment by providing tax incentives, business credits and limited regulations unlike other states.”
A spokesperson for Partners Personnel, ranked by SIA as the No. 1 fastest-growing industrial staffing firm for 2022 and No. 4 as the fastestgrowing staffing firm in the United States, says Phoenix has been an attraction for distribution centers and manufacturers for several years now, as many companies have decided to move their businesses to the Phoenix market for larger, more affordable warehouses and facilities. “We’ve seen the West Phoenix market take off in the distribution and manufacturing industries and the East Valley expand in aerospace, semiconductors and, most recently, in the automobile industry with electric vehicles. Phoenix has become attractive to corporations because of its location between California’s ports, the Southwestern United States and Mexico.”
Explains Chris Camacho, president and CEO of Greater Phoenix Economic Council, “We’re in an economic era where employers and employees are attracted to regions with a real sense of place. They are looking for markets that offer an elevated quality of life, and Greater Phoenix can match those expectations.” Observing that decades of regulatory policy and long-standing public-private partnerships have created a probusiness environment and workforce to support expanding and relocating companies, he says those factors combined with lifestyle have “made this market one of the most attractive places to launch and scale a business.”
Noting that Arizona is becoming the electric car capital for the United States, EmployBridge’s Perkins names Lucid Motors as one of the most important companies for job creation. “We are seeing the growth of companies that support their initiative, such as Tier 1-4 vendors.” Additionally, she says, “the semiconductor industry is becoming the hub of the manufacturing sector in Phoenix and surrounding areas.”
And Partners Personnel is finding job seekers are attracted to the Valley thanks to the growth of new businesses coming into the Valley as well as the expansion of existing businesses. Company spokesperson says manufacturing, production and assembly (semiconductor, electric vehicles, packaging solutions, fiber solutions, medical supply and dental instruments, plastic injection molding, aerospace, food manufacturing and production) and distribution, logistics and warehousing have been creating an abundance of jobs with competitive wages.
“The ACA’s goal is to attract companies that commit to creating highpaying, skilled jobs,” says Watson. While a majority of the projected new jobs are in manufacturing, she is seeing more jobs in technology as well as rapid growth in semiconductors, electric vehicles, batteries, biotech, aerospace and defense and more.
And as Komadina points out, the ancillary jobs that semiconductor companies have brought to Phoenix have immense impacts on industrial and office-using employers. “The high-wage jobs within user groups of Blue Origin and GI Partners, along with the relocation of the headquarters of Align and Lifestance, will broadly impact our market.”
Semiconductor manufacturing looms large in most of these assessments. So, let’s look at the semiconductor business here.
In this issue’s Guest Editor letter, Camacho mentions what a high-profile event was the recent opening ceremony on December 6 for the Taiwan Semiconductor Manufacturing Company’s fabrication facility in north Phoenix. Senator Mark Kelly, speaking at the event, noted the significance of the project: “Only 10% of the world’s microchips and 0% of the best microchips are made in U.S. Today, that is changing. TSMC manufactures the most advanced microchips in the world.” In terms of job creation: “This will create tens of thousands of high-paying jobs, many of which will not need a four-year degree.” It will be possible to raise a family as a semiconductor manufacturing technician, he concluded.
Which was, in fact, the point that President Biden was making when he told the assembled audience, “Thousands of Arizonans will be able to look their child in the eye and say, ‘Honey, it’s going to be okay.’”
While the ceremony celebrated the “First Tool-In ” at the facility, TSMC also announced its intention to build a second facility. The two, said TSMC Chairman Mark Liu, “will create 13,000 high-paying, high-tech jobs” — plus attracting “about 40 supply companies to open nearby, creating thousands more local jobs.”
The ripple effect on our economy goes beyond the sector itself. President Biden called out one example as he related the story of Paul Sarzoza, who grew up picking seasonal produce here in Arizona. “His parents believed in education, so Paul went to college to study business. He launched a cleaning business. Now it has over 100 employees, and this company — TSMC — is their biggest customer. And now that they are expanding here in Phoenix, Paul will be hiring a lot more workers.”
The TSMC account has allowed Sarzoza’s multi-million-dollar custodial business, Verde Clean, to hire more employees and expand its leadership
and management teams — and Sarzoza has committed to starting a custodial apprenticeship/MIT program with Maricopa County Community Colleges and TSMC.
TSMC is the shiny new asset in our community, which that company’s chairman called the “Silicon Desert.” One of the companies that helped create this fertile tech environment is Intel.
“Intel is so proud to say that we have invested and innovated in Arizona for more than 40 years,” says Liz Shipley, public affairs director at Intel Arizona. “We’ve invested significant time and resources to help make Arizona an outstanding location to develop and manufacture semiconductors, from education and workforce development, to supply chain, and more.” In September 2021, Intel broke ground on two new leading-edge semiconductor factories, an investment of more than $20 billion that will create 3,000 high-tech, high-wage Intel jobs, 3,000 construction jobs, and support an estimated 15,000 additional jobs in Arizona. “We are expanding in Arizona because of our long track record of success, along with this ecosystem of innovation we have helped develop.”
To support the growth of its Arizona operations, Intel works closely with schools, community colleges and universities to help build inclusive pathways into semiconductor manufacturing. “We invest significant resources to attract, develop, recognize and reward the people who keep Intel at the forefront of innovation and make Intel an employer of choice,” Shipley says, noting, “We strive to provide pay, benefits and services that help meet the varying needs of our employees, and we are committed to staying competitive to attract and retain the people who make our success possible.”
An important initiative in that regard was announced in early 2022 with the First Lady of the United States Dr. Jill Biden. Quick Start, a workforce development program with Maricopa County Community Colleges, is a joint initiative spearheaded by Intel’s technology development and manufacturing organizations. The accelerated two-week course prepares students for a rewarding career as a semiconductor technician with handson learning from industry-experienced Intel employees as instructors. Shipley reports that it is currently offered at three community colleges in the Phoenix metropolitan area and close to two hundred people have already completed the program, with many securing opportunities at Intel and other companies in the semiconductor industry.
Komadina notes that, given the higher wage profile of job growth, the lion’s share of office-use growth is in areas with proximity to higher-income neighborhoods, access to dining and other amenities, and available trophy office space.
And Partners Personnel reports seeing more manufacturing facilities and distribution centers being built, as well as companies moving into the West Valley, North Phoenix, and the East Valley as far as Casa Grande (as well as Tucson and Nogales), because many companies have decided to move their businesses to the Phoenix market for larger, more affordable warehouses and facilities.
Breaking it down a bit more, Camacho describes three tiers of growth in Greater Phoenix: Urban, catalyst-driven and new frontier. “We are seeing tremendous growth inside Loop 101 near central business districts, related to population bases in urban settings like Central Phoenix, Tempe, Scottsdale and Glendale. There are catalyst assets driving growth, like the Phoenix-Mesa Gateway Airport in Mesa, anchored by transportation nodes; and Deer Valley, driven by TSMC expansion and the growing semiconductor ecosystem; along with a similar boom in the Southeast Valley spurred on by Intel. And there are several new frontier markets that are expanding quickly, like Queen Creek, Surprise and Buckeye.” Additionally, he notes there is ancillary activity from the TSMC expansion around Deer Valley stretching down to Casa Grande, Howard Hughes recently made a 100,000-home investment for Arizona’s largest master-planned community in Buckeye, and LG Energy is investing $1.4 billion to build its first-ever North American cylindrical-type battery facility in Queen Creek.
Other important companies for job creation across the Valley that have recently located or expanded here include Shellpoint Mortgage in Tempe, Optum RX in Mesa, Honeywell in Chandler, Kohler in Casa Grande, and Gulfstream in Mesa. “These are large, global companies creating new jobs for residents throughout Greater Phoenix,” Camacho says.
Says Watson, “We’re seeing announcements across Arizona — from ZenniHome in Page, FrameTec in Camp Verde, Procter & Gamble in Coolidge, Nucor in Kingman, Nestle in Glendale, Kohler in Casa Grande, to American Battery Factory in Tucson and PowerPhotonic in Sahuarita. The state’s economic momentum shows no signs of slowing down.”
“We knew that TSMC’s project would be transformational for our state, and that’s even more evident today,” said Governor Doug Ducey at TSMC’s opening ceremony. TSMC’s $40 billion investment (the largest foreign direct investment in Arizona history) includes an employment impact in creating 4,500 direct high-tech, high-wage jobs, more than 21,000 construction jobs and more than 13,000 jobs at supplier companies.
For the immediate future, Arizona Commerce Authority’s goals for Fiscal Year 2023 include leading efforts to create 20,000 projected jobs (combined total for attraction and expansion) with a focus on high-wage target industries and attracting $4 billion (also combined total for expansion and attraction) in capital investment by ACA clients. (ACA reports that in Fiscal Year 2022 — July 2021–June 2022 — it led efforts to create a record 24,186 projected new jobs and attracted $10.75 billion in capital investment.)
And Camacho notes, “Our job is to bring high-wage, high-value jobs to the Valley, the most significant of which require post-secondary education — but we are also focused on bringing equitable projects to Greater Phoenix to ensure that there are jobs available for all our citizens, regardless of educational levels. That is why GPEC puts such a large emphasis on fostering partnerships with Greater Phoenix technical education, community colleges and even high schools to prepare for the next generation workforce. This growing workforce is rising to meet the demands of a diversified economy with significant employment gains in the financing, technology and manufacturing industries.”
Job creation in Metro Phoenix impacts far more than our local economy.
As noted earlier in this article, the construction of TSMC Arizona has also driven local investment from leading semiconductor suppliers. TSMC has more than 40 suppliers taking steps to establish operations near its roughly 1000-acre semiconductor complex in Phoenix to provide TSMC Arizona with ongoing support and collaboration. Among them are companies that make materials and components which are required in semiconductor fab operations. Some are starting their first U.S. operations in Arizona and others are expanding their local operations. They bring new strengths to the U.S. semiconductor supply chain and will contribute greatly to ramping up leading-edge chip manufacturing.
As one of TSMC’s leading fabs, TSMC Arizona will play a vital role in onshoring semiconductor manufacturing, strengthening national economic competitiveness. When complete, TSMC Arizona’s 1st fab (N4 process) will be the most advanced semiconductor process technology in the United States, which will enable U.S. leadership in the 5G and artificial intelligence era for decades. Then, 3nm production will follow when the second fab comes online.
U.S. Commerce Secretary Gina Raimondo addressed this broader impact in her remarks at the TSMC event: “It was a national economic and national security vulnerability that we [the U.S.] didn’t manufacture sophisticated, leading-edge chips.”
And Tim Cook, CEO of Apple – which, he says, works “with TSMC to manufacture the chips that help power our products all over the world –shared this optimistic view:
“As I look around this facility, I’m reminded of a great engineer and physicist who once wrote, ‘The future cannot be predicted, but futures can be invented.’ [Nobel laureate Dennis Gabor, in 1963] Those words feel like a fitting mantra for our current moment — one where the unpredictability of the future is surpassed only by the opportunity we have to shape it. … This is an incredibly significant moment. It’s the chance for the United States to usher in a new era in advanced manufacturing. It’s the chance to create high-tech American jobs — the jobs of the future — the jobs that could define our future.”
As Governor Ducey said at the TSMC opening ceremony, “Semiconductor chips made here will drive the engines of growth far beyond northern edge of Phoenix.”
Apple apple.com
Arizona Commerce Authority azcommerce.com
CBRE cbre.com
EmployBridge employbridge.com
Greater Phoenix Economic Council gpec.org
Intel intel.com
KORE Power korepower.com
Partners Personnel partnerspersonnel.com
Sendoso sendoso.com
Taiwan Semiconductor Manufacturing Company tsmc.com
Verde Clean verdecleanservices.com
Williams-Sonoma, Inc. williams-sonomainc.com
Stephen Miles is the founder and CEO of The Miles Group. Previously, he was a vice chairman at Heidrick & Struggles and ran Leadership Advisory Services. With more than 20 years of experience in assessment, executive coaching, top-level succession planning, organizational effectiveness and strategy consulting, Miles specializes in CEO succession and has partnered with numerous boards of global Fortune 500 companies to ensure that a successful leadership selection and transition occurs. He shares insights on TMG’s C-Suite Intelligence podcast. miles-group.com/podcast twitter.com/ TheMilesGroup linkedin.com/company/ the-miles-group
As we enter a phase of hyperinflation, no one has the muscles or experience to navigate this new business climate, which means CEOs and their leadership teams need to figure out a new way to lead and win. The hyperinflationary toolkit is drastically different from the one that has been applied for the past 30 years, with steady 1% to 3% inflation combined with a cost of capital that has been almost free.
Inflation is everywhere and, though it may vacillate, it continues to show signs of increasing velocity. During the past two-plus years, governments around the world have flooded markets and consumers with dollars to spend. If money printing was the only stimulus for inflation, it would be hard enough, but there is another layer of complexity to account for. We have amplifying effects from a globally gnarled supply chain that is causing additional pressures on pricing, Russia’s invasion of Ukraine, and commodity and energy markets going through the roof without an easy way to relieve the rising prices. On top of all these factors, we have arguably the tightest labor market in our lifetimes.
We have triangulated with CEOs around the world, and each one is deeply concerned about inflation. No one is talking about it being transitory any longer, only that it is moving from inflationary to hyperinflation. And while hyperinflation will subside somewhat as demand comes off, we believe it will lead to a period of stagflation where we have falling demand and continuing persistent inflation.
Leaders and leadership teams are entering a new era of “tone at the top” in the leadership and management of their companies. This is going to require a total rethink of the company’s blueprint on how strategy is defined, how future investment is determined, and how business models continue to prove viable.
We suggest that the CFO of the company undertake a full review of the business model with each business leader to identify where the P&L has inflation risk and model out various scenarios to uncover the sensitivities within the company and across the industry. Part of this undertaking needs to be to develop the inflation dashboard and metrics that provide the CFO and business leaders real time data of how inflation is affecting the company’s ability to generate cash and operating profit. Inflation has a time component to it, so it is critical that these dashboards are dynamic and operate in real time.
Now we are in a world where each leader will have to touch, feel and manage cash or working capital again. Hyperinflation
eats away at cash, destroying margins and instilling a halo effect on managers and leaders as they see inflated revenues and think, “Everything is actually pretty good.”
In reality, it is not good at all, and leaders need the muscle and mindset to recognize this. When these forces combine without a corporate playbook, the likelihood of missing a few cycles and coming in late is extremely high. When leaders start playing catch-up in a hyperinflationary environment, they often struggle to make up lost ground, which leads to massive underperformance and even total failure for the companies they lead.
The cost of capital is increasing rapidly, and most executives have been operating in a low interest rate environment where investors have been willing to reward long-term growth. As hyperinflation settles in, investors will discount future growth and start to turn their attention to how companies are managing the balance sheet. This is a huge mindset shift from the past decade.
The old-fashioned approach of “raise prices 1% to 2% per year or 3% every other year” or “grow the bottom line through operational improvements and efficiency gains” will not work in a period of 8% to 10% annual inflation. If leaders don’t move quickly, the compounding effect of being off on price (200–300 basis points) every year is vast and extremely hard to make up quickly. Developing the muscle to push price will be key for CEOs and senior leaders to win in the future. They will need to:
• Understand the true increase in costs of the business, so that price increases can be targeted correctly and quickly.
• Create a regular product/service improvement cycle so increased prices can be justified on a regular basis (innovation means more now than ever).
• Collect quick feedback on competitors’ responses and customers’ reaction to price changes to understand increased costs’ impact on demand and volume.
The modern company has moved from being highly vertical and top-down, where managers operate in their individual silos, to the matrix organization. This introduced a lot of additional processes that slowed the pace of change. As we move into the next blueprint for the modern corporation, we are heading to what we call “the networked organization.” The network is about a more distributed model of leadership and efficiently organizing around the work that needs to be completed. The notion here is that before leaders drive any
Hyperinflation eats away at cash, destroying margins and instilling a halo effect on managers and leaders as they see inflated revenues and think, “Everything is actually pretty good.”
While hyperinflation will subside somewhat as demand comes off, we believe it will lead to a period of stagflation where we have falling demand and continuing persistent inflation
content, they map it across the company (the network) and engage with key stakeholders. The network brings to life a company that can be both “hyperlocal” and “hyperglobal.” These distinctions are more critical than ever before, as inflation will force organizations to consider new options like re-shoring, deep vertical integration and multiple source purchasing. Driving work in the network starts with executives asking themselves:
• Is this just me in my area?
• Is this me with a few peers across the organization?
• Or is this an enterprise activity with many key stakeholders?
Effectively leading in a hyperinflationary environment requires the leadership team to be highly connected and thinking about each other in each facet of their roles versus focusing on their individual areas.
By way of example, CFOs need to be working closely with global supply chain and procurement. More broadly, leadership teams need to ensure they are all working together to unlock supply chains at speed. Procurement must delve into every contract and understand the inflationary implications of those contracts, potentially closing or renegotiating them for an inflationary world. If pricing is with the sales and marketing team, it might need to be moved into the CFO and CEO office as sales and marketing executives are not wired for a hyperinflationary world of pricing and will balk at raising prices repeatedly.
If central banks aggressively start moving interest rates upward, it is likely to send different types of shock waves into the global economy and we may quickly see the world head into a downturn and recession. Nobody has a crystal ball, and all we can do is prepare and respond, which requires a culture that is dynamic and flexible instead of slow and fixed. Each company and its culture need to be resilient, turning negatives into positives that spur the company into action, instead of allowing setbacks to derail them.
CEOs also need to build talent strategies that don’t rely on a large, available pipeline of viable candidates. CEOs and CHROs must recognize that the time to fill positions is no longer 60 or 90 days, but instead will be more like six, nine or 12 months going forward. Compensation increases aren’t 2% to 3% per year, but 5% to 7%. Questions will begin to emerge, like: How do leaders effectively balance resource allocation (talent and costs) across multiple initiatives? Will organizations have to leverage partnerships to “borrow” capabilities? Can the “gig economy” help more organizations going forward?
Similarly, CHROs need to rethink how executives are being measured and rewarded to develop a new model of compensation that shifts how success is measured. The CHRO and head of talent should embark on evaluations for leaders in critical roles, ensuring they are fit for purpose in a hyperinflationary world — and some will probably need to be changed out.
Companies not directly impacted by COVID-19 policy whose business model has not been producing super normal profits have a very big problem. We have been lulled into a false sense of competitiveness and virtual effectiveness. What nobody seems to be talking about is the hit to innovation and creativity that comes only from being in-person. We have prioritized efficiency as opposed to individual and collective effectiveness. Leaders need to mobilize their teams back into the office as we focus on more new threats to their business model.
The next few years are going to be a lot harder than the past few years, which many didn’t think was even possible. We will be doing a lot of new things, and we need each company to be at its creative and innovative best. This is going to require — you guessed it — being in the office.
Superfans aren’t just for pop stars and NBA teams. What if your customers loved your brand the way Swifties love Taylor or Drake loves the Raptors. In Creating Superfans, award-winning entrepreneur and keynote speaker Brittany Hodak shares a powerful framework for transforming a business from a commodity into a category of one. Brittany has helmed fan-engagement campaigns for brands that include Walmart, Disney, Amazon and dozens of other global brands. Creating Superfans combines sharp business insights with entertaining stories from work with stars like Taylor Swift, Dolly Parton and Mötley Crüe. Memorable case studies from businesses of all sizes illustrate that customer experience, or CX, is the battlefield for wining — and keeping — customers. Brittany’s game-changing CX system, the SUPER Model, is simple to learn, deploy, and measure across every organization.
Creating Superfans: How to Turn Your Customers Into Lifelong Advocates Brittany Hodak $27 Page Two Available 1/10/2023 296 pages
In Into the Metaverse, Cathy Hackl, a globally recognized futurist and one of the world’s first chief metaverse officers, shares her insights on what companies need to do to harness the next iteration of the internet: the metaverse. If the internet was first used to connect us to information and then developed into a social media forum to connect people, then Web3 — which connects people, places and things — will help enable the successor state to today’s mobile internet, the Metaverse. In the same way that social media upended our lives and our businesses, the Metaverse will shake things up even more. Into the Metaverse is the essential business guide to understanding the ground-breaking technologies that enable this monumental shift and the opportunities it presents from a business and societal perspective.
Into the Metaverse: The Essential Guide to the Business Opportunities of the Web3 Era Cathy Hackl $35 Bloomsbury Business Available 1/17/2023 224 pages
Coach Burt shows how humans have this instinctive drive for pursuing goals with a persistence and intensity that goes far beyond the usual efforts applied to everyday tasks. As with war dogs, external stimuli are required for flipping the switch. For the dogs, it’s movement or scent. What are they for individuals? In these inspiring and eye-opening pages, readers will discover how to find what activates them, personally, to do more, create more and achieve freakish levels of success by analyzing and exploring the primary drivers: fear, competition, exposure, environment, inspiration from others and, yes, even embarrassment. Whether flipping the switch to win a championship or win new business, knowing how to find external stimuli that activate that thing inside each of us is what will allow us to achieve our highest goals — naturally.
Flip the Switch: Activate Your Drive to Achieve a Freakish Level of Success
Coach Micheal Burt $26 McGraw Hill
Available 1/31/2023 272 pages
Effectively leading in a hyperinflationary environment requires the leadership team to be highly connected and thinking about each other in each facet of their roles versus focusing on their individual areas.
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.
Destacar en un mercado ruidoso puede ser una tarea abrumadora para los empresarios nuevos y experimentados. Afortunadamente, existen muchas estrategias comprobadas que nunca pasarán de moda entre los consumidores y lo ayudarán a diferenciar su negocio en el mercado.
Para poner a su pequeña empresa en el camino correcto, puede comenzar haciéndose algunas preguntas. Cuando un cliente le pregunta qué lo hace diferente, ¿responde con confianza y le dice por qué es el mejor para resolver su desafío clave? ¿Su respuesta le ayuda a su audiencia a sentir que entiende sus necesidades? ¿Describe claramente por qué comprarle a usted lo convierte en su opción ideal? Cuando diferencia su negocio, lo hace memorable y creíble. Ayuda a sus clientes a comprender rápidamente lo que hace y lo que lo diferencia de sus competidores.
Además de estas preguntas, capturar la retroalimentación de sus clientes puede acercarlo más a liberar la mina de oro potencial en su pequeña empresa. Pregúntese, ¿qué es lo que sus clientes realmente aprecian de su servicio? ¿Por qué los clientes a largo plazo todavía están con usted? ¿Cuál fue una de las cosas más agradables que dijo un cliente acerca de cómo realiza negocios? Aquí hay ocho estrategias para ayudarlo a desarrollar un enfoque sólido para diferenciar su pequeña empresa en la economía actual.
1. Concéntrese en su mercado objetivo. Cuanto más enfocado esté su mercado objetivo, mejor. Imágenese tratando de atrapar un pez disparando una bala al océano. No será tan efectivo como estudiar las aguas del océano, encontrar dónde se acumulan los peces y usar una red para atrapar los peces que desea. Cuando se enfoca en un mercado objetivo específico, su marketing se vuelve mucho más fácil para que los clientes se conecten a su negoco.
2. Concéntrese en un servicio al cliente superior. El servicio al cliente no comienza en el momento en que un cliente entra por la puerta. Comienza en el momento en que un cliente busca la solución a su necesidad. Piense en todo el recorrido del cliente y en cómo se sienten los clientes cuando compran en su empresa. Use las preguntas anteriores para ayudarlo a diseñar una experiencia de cliente simple y positiva. Hoy en día, las pequeñas empresas valoran más un excelente servicio al cliente para aumentar su base de clientes.
3. Resuelva un problema. Comprender las necesidades de su cliente es crucial para las ventas efectivas. Escuche a sus clientes y reflexione sobre cómo hablan en línea y fuera de línea sobre el problema que les resolvió. Use esa retroalimentación para construir su marca, una estrategia de marketing y un gran producto o servicio en torno a esa retroalimentación. Desafíe sus suposiciones y vaya
Los propietarios de pequeños negocios pueden hacer que sus negocios se destaquen en la economía actual mediante la delimitación de su mercado objetivo, enfocándose en un servicio al cliente superior, resolviendo un problema para sus clientes, siendo innovadores, creando ofertas que son difíciles de ignorar, siendo conocidos como expertos en su campo, haciendo que sea fácil para los clientes hacer negocios con ellos y creando un modelo de negocio único basado en sus valores.
directamente a la fuente para hacer crecer su negocio: su cliente.
4. Sea innovador. Innovar no siempre significa crear un nuevo producto o servicio. A veces, las pequeñas empresas se atascan haciendo lo mismo de la misma manera y los clientes pueden aburrirse. Innovar puede ser tan simple como actualizar la forma en que un cliente le compra o cómo se entrega su producto o servicio. Encuentre formas de mejorar la forma en que resuelve los problemas de sus clientes y se alegrarán de haberlo hecho.
5. Cree ofertas que sean demasiado difíciles de ignorar. Sus clientes leales merecen un gesto de agradecimiento ofreciéndoles un descuento especial de vez en cuando. Asegúrese de que sus descuentos se ofrezcan en momentos especiales para hacerlos especiales. Si se ofrece un descuento todo el tiempo, entonces deja de ser especial.
6. Sea conocido como el experto en su campo. Todo emprendedor comienza con su pasión por un lado y sus habilidades por el otro. Asegúrese de mejorar continuamente sus habilidades y crecer dentro de su campo. Ganarse la confianza de su cliente será mucho más fácil cuando lo perciban como un líder en su campo.
7. Facilite hacer negocios con usted. Cuando un cliente debe pasar por demasiados obstáculos para obtener lo que necesita, lo llevará por la puerta. Asegúrese de comprender el proceso por el que debe pasar un cliente para comprarle y encuentre formas de simplificarlo. Comprométase con este proceso más simple para desarrollar un embudo de ventas consistente.
8. Cree un modelo de negocio único basado en sus valores. Asegúrese de tener claros sus valores como propietario de una pequeña empresa. Si se preocupa el medio ambiente, asegúrese de que su servicio o producto lo refleje. Si se preocupas por su comunidad, asegúrese de que sus acciones lo reflejen. Los clientes disfrutan comprando en pequeñas empresas que predican con el ejemplo.
Estas ocho estrategias funcionan para cualquier tipo de pequeña empresa. Si es propietario de un negocio nuevo, primero redacte su plan de negocios y haga su investigación de mercado antes de invertir dinero para comenzar. Escriba sus objetivos y pregúntese, ¿cómo quiere que lo traten si fuera a comprar en su propia pequeña empresa? Si es propietario de un negocio con experiencia, mida lo que funciona bien y encuentre formas de mejorar. Capacite a su personal sobre los estándares de su empresa compartiendo su declaración de misión y promesa de marca con ellos.
Standing out in a noisy market can be a daunting task for new and seasoned entrepreneurs. Luckily, there are many proven strategies that will never go out of style with consumers and help you differentiate your business in the market.
To put your small business on the right track, you can start by asking yourself a few questions. When a customer asks you what makes you different, do you answer the question confidently, telling them why you are the best at solving their key challenge? Does your answer help your audience feel like you understand their needs? Do you clearly describe why buying from you makes you their ideal choice?
When you differentiate your business, you make it memorable and credible. It helps your customers quickly understand what you do and what sets you apart from your competitors.
In addition to these questions, capturing feedback from your customers can lead you closer to unleashing the potential gold mine in your small business. Ask yourself, what do your clients really appreciate about your service? Why are long-term clients still with you? What was one of the nicest things a client ever said about how you conduct business? Here are eight strategies to help you develop a solid approach to differentiate your small business in today’s economy.
1. Narrow your target market. The more focused your target market, the better. Imaging trying to catch a fish by shooting a bullet into the ocean. You will not be as effective as studying the ocean waters, finding where the fish collect, and using a net to catch the fish you want. When you are focused on a specific target market, your marketing becomes much easier for customers to connect with.
2. Focus on superior customer service. Customer service does not start the moment a customer walks in your door. It starts the moment a customer searches for the solution to their need. Think about the entire customer journey and how customers feel when they buy from your business. Use the questions above to help you design a simple and positive customer experience. Nowadays, great customer service is more valued by small businesses to grow their customer base.
3. Solve a problem. Understanding the needs of your customer is crucial to effective sales. Listen to your customers and reflect on how they talk online and offline about the problem you solved for them. Use that feedback to build your brand, a marketing strategy, and a great product or service
around that feedback. Challenge your assumptions and go directly to the source to grow your business: your customer.
4. Be innovative. Innovating does not always mean creating a new product or service. Sometimes, small businesses get stuck doing the same thing the same way and customers can get bored. Innovating can be as simple as updating the way a customer buys from you, or how your product or service is delivered. Find ways to improve how you solve your customers problems and they will be glad you did.
5. Create offers that are too hard to ignore. Your loyal customers deserve a gesture of appreciation by you offering them a special discount every now and then. Make sure your discounts are offered during special times to make them special. If a discount is offered all the time, then it stops being special.
6. Be known as the expert in your field. Every entrepreneur starts out with their passion on one hand and skillset in the other. Make sure to continuously sharpen your skills and grow within your field. Earning the trust of your customers will be much easier when you are perceived as a leader in your field.
7. Make it easy to do business with you. When a customer must jump through too many hoops to get what they need, it will lead them out the door. Make sure you understand the process a customer must go through to buy from you and find ways to simplify it. Commit to this simpler process to develop a consistent sales funnel.
8. Create a unique business model based on your values. Make sure to have your values clear as a small business owner. If you care about the environment, make sure your service or product reflects that. If you care about your community, make sure your actions reflect that. Customers enjoy buying from small businesses that walk the talk.
These eight strategies work for any type of small business. If you are a new business owner, draft your business plan first and do your market research before you invest money to start. Write out your goals and ask yourself, how do you want to be treated if you were to buy from your own small business? If you are an experienced business owner, measure what is working well and find ways to improve. Train your staff on your company standards by sharing your mission statement and brand promise with them.
Small business owners can make their businesses stand out in today’s economy by narrowing their target market, focusing on superior customer service, solving a problem for their customers, being innovative, creating offers that are too good to ignore, being known as an expert in their field, making it easy for customers to do business with them, and creating a unique business model based on their values.
Ryan Frette is WaFd Bank’s interest rate derivatives manager, specializing in interest rate sales and trading.
Frette has helped banking customers with hedging strategies and deal structuring for nearly 20 years and is actively involved in various capital market functions within the bank.
On Dec. 14, 2022, the Federal Open Market Committee (a committee within the Federal Reserve System) raised its target rate +50 basis points, making the new upper limit of the Fed Funds Rate to set at 4.5%. While the actual change in the target rate came in as expected, the still very hawkish stance from the Fed may have surprised some market participants due to the recent inflation data that has shown some improvement.
Fed Chairman Jerome Powell maintained a consistent message and continues to prioritize price stability over economic growth, stating rates should stay restrictive for “some time.” Prior to the meeting, the market expected a terminal Fed Funds rate of 5%, with rate cuts commencing mid-2023.
After the meeting, we are now expecting a median end of year 2023 Fed Funds Target Rate of 5.10%, according to the latest publication of the FOMC dot plot, which suggests we could see another +75-basis-point increase from here. It’s worth noting that the expected terminal rate as of June 30, 2022, was only 3.5%. This illustrates just how quickly the interest rate landscape can change, and everyone is still trying to find a crystal ball that works. Did anyone think we would see +425-basis-point increase in the target Fed Funds Rate at the beginning of this year?
The interest rate environment continues to be choppy, and financial institutions and commercial customers alike are strategizing on how best to navigate around increased volatility. Planning for future rate hikes or cuts can be challenging and outlooks are often revised throughout the year; however, not having a forecast makes it difficult to plan around a dynamic interest rate environment. In times of increased volatility, it is important to partner with a financial institution that is equipped with the tools and subject matter experts that remain creative and innovative to find appropriate solutions for customers’ needs.
Using interest rate swaps and other derivatives on commercial loans and LOC can help add certainty and peace of mind when interest rates are on the move. Vanilla interest rate swaps offer all the benefits of a conventional fixed rate loan, with the additional advantages of fully customizing the hedge based on the customer’s own outlook for interest rates. Will future rates exceed the current forecast? Will the Fed go too far and resort in cutting rates aggressively to pull the U.S. out of a recession? Will rates stay elevated much longer than anticipated? These are just some of the common questions being asked today. Using an interest rate cap, collar, partial hedge or any combination can help address these questions, all while giving commercial customers the ability to create a risk management strategy that is appropriate for their business.
Finally, proper planning on the front end of any new credit request is important, but incorporating options that allow for expanding, de-levering (prepayments) or organization changes can sometimes be overlooked. Interest rate hedges are fully customizable and are built to consider business lifecycle changes that may occur during the credit facility’s term. For example, entering into a long-term loan at the onset may make sense; however, capturing the ability to exit along the way without any prepayment penalty may add value based on historical repayment behavior. Or, executing a partial interest rate swap on a percentage of the outstanding debt will deliver a blended interest rate between floating and fixed rates of interest, and allow for prepayments and the ability to participate in the event floating interest rates fall during the loan term.
Regardless of the direction of rates and the velocity in which they move, implementing a prudent hedging strategy can add value for both commercial customers and the lending institution.
A participating swap is a hedge that offers customers peace of mind of a synthetic fixed rate, with the added benefit of a rate reductions should interest rates fall in the future — allowing the customer to “participate” if/when rates fall.
The interest rate landscape can change, and everyone is still trying to find a crystal ball that works by Ryan Frette
Every business strives to grow revenue, diversify their buyer base, and create more jobs. In Arizona, we help make those goals a reality. Through the Arizona State Trade Expansion Program (AZSTEP) and ExporTech, small business owners can collaborate with public and private sector partners to get assistance exporting their products and services around the world. Together, these programs will help you develop global strategies, implement go-to market initiatives, attend international trade shows and access resources to compete on a global scale. Visit our site to accelerate your expansion and grow your business.
Henry R. Darwin, attorney at Gallagher & Kennedy, represents local and national private-sector clients in complex and difficult environmental matters involving government. Before joining G&K, Darwin worked in government for more than 25 years as the director of the Arizona Department of Environmental Quality, as the Acting deputy administrator and chief operating officer of the Environmental Protection Agency in D.C., and as the COO for the State of Arizona under Governor Ducey. Most companies have myriad environmental issues over the course of the business lifecycle, and Darwin is particularly adept at win/win negotiations that also preserve the longer-term relationship with the agency. gknet.com
Three tips from a former EPA executive and state environmental director
by Henry R. DarwinEnvironmental laws and regulations are numerous and complicated. They include the Clean Air Act; the Clean Water Act; the Resource Conservation and Recovery Act; and the Comprehensive Environmental Response, Compensation, and Liability Act (aka Superfund) — to name just a few. These laws and associated regulations are enforced by the Environmental Protection Agency and the state agency equivalents acting on behalf of EPA. While the states typically handle most enforcement actions, EPA usually initiates enforcement for only the most significant of violations.
Given the volume and complexity of environmental laws and regulations, it should be no surprise that even the most well-run, well-intentioned companies at times find themselves in trouble with the state or EPA. When that happens, there’s a right way and wrong way to react. While responding to an EPA or state enforcement action is unpleasant, taking these three steps will greatly improve the experience — and a company’s bottom line.
• Correct the problem immediately. As soon as a company receives notice from EPA or state agency that they intend to pursue an enforcement action, it’s in the company’s best interest to take immediate corrective action. Remember, EPA’s top priority is to minimize the impact of the problem on the environment by getting the company back into compliance as quickly as possible.
In addition, every day the violation continues puts the company at risk for higher fines. As an example, the maximum fines for violating the Clean Air Act are between $102,638 to $109,024 per day per violation. So, arguing with EPA about whether there was a violation instead of first taking corrective action is foolish, even if the company is certain that EPA or the state is wrong. There will be plenty of time later to argue whether there was, in fact, a violation.
• Implement measures to prevent the violation from happening again. After correcting the problem, it’s imperative that a company perform a route cause analysis and institute measures to prevent the problem from recurring. Being a repeat customer of EPA or a state’s enforcement program is a bad idea. While they may take mercy on first-time offenders, they don’t take kindly to those who fail to get the message the first time.
Companies finding themselves twice in the proverbial crosshairs of EPA or the state can fully expect higher fines
A company subject to an enforcement action does not need to admit that they committed a violation but acknowledging that a problem occurred is important.
the second go round. Alternatively, EPA or the state will likely consider a company’s preventive measures when determining the fine. Even though the maximum fines set in state and federal law seem outrageous, EPA and the states have discretion when determining the fine they are willing to accept without going to court. Demonstrating that they won’t have to worry about future violations will go a long way in convincing EPA that a large fine is unnecessary.
• Acknowledge wrongdoing. While correcting the problem and putting preventive measures in place require little humility, this last step is often the most difficult. Regardless, a bit of humble pie will go a long way toward reducing the fine EPA or the state will accept to resolve an enforcement action. A company subject to an enforcement action does not need to admit that they committed a violation, but acknowledging that a problem occurred is important.
When EPA or a state initiates an enforcement action, they will seek assurances that the company will think twice before creating the problem again. This is not only intended to protect public health and the environment, but also to protect their limited enforcement resources. EPA and the states assume that those companies who refuse to admit they’ve done anything wrong must be convinced that a repeat of the problem is a bad idea. If the agency is not convinced that the company has taken the problem seriously through its reaction to the enforcement action, it will do so through the collection of a larger fine. So, it really boils down to whether the company is willing to assure EPA or the state that it got the message through its actions and acknowledgments, or through paying a large fine.
While dealing with an EPA or state equivalent enforcement action is certainly burdensome, following these three suggestions will likely reduce the impact of the situation on both a company’s bottom line and its reputation. Who knows, if a company were to take all these actions quickly and with a bit of humility, EPA or the state may decide not to pursue fines at all.
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CHARITY GOLF CLASSIC
The 10th annual golf classic is coming up on April 28, 2023. This staple fundraiser enables community support throughout the year via LRGB project grants and event sponsorships to qualified Arizona 501(c)3 nonprofits that fall into the firm’s (new) areas of focus: Public Safety, Health & Human Services, Youth Programs and Animal Welfare.
This event allows LRGB to support 50 to 75 organizations annually. lernerandrowegivesback. com/golf-event
As the catchy advertising jingle goes, Lerner & Rowe are known as the “way to go.” They’re the firm where personal injury law meets a people-focused approach. Yet, in many communities, this firm is better known as an advocate and champion for positive change. Launched by the firm’s founder and partner, Kevin Rowe, Lerner & Rowe Gives Back (LRGB) and the Rowe Family Foundation are both creating meaningful social impact programs, dedicated to paying it forward.
Inspired by his father, Sam Rowe, Kevin Rowe’s calling to give back to society began at an early age. As a child, he watched his father aid with local cancer benefits. This ignited a dedication to give back and served as the impetus for LRGB, Lerner & Rowe’s company charity arm. LRGB advocates for and improves the lives of children who live in poverty, cope with the effects of illness or disease, or otherwise need assistance. In addition to this, the firm leads compassion work, touching the homeless, the hungry, the abused and sick and, in many cases, even helping four-legged friends.
launch of an organized grants process coming in late January 2023, the firm is formalizing many of its giving efforts. LRGB will welcome new organizations that fit its pillars for funding to apply for support. These include public safety, health and human services, youth programs and animal welfare.
Along with the growth of the company’s charity arm, the firm will continue to share its key community engagement initiatives. From Back-to-School Backpack Giveaways to Thanksgiving Turkey drives and Lerner & Rowes’ 25 Days of Giving, the firm will continue leading campaigns that serve thousands of kids and families. Having donated five thousand backpacks and turkeys, all in the past year, LRGB continues to pay it forward while developing its strategic corporate citizenship efforts.
Tyler Butler is a chief social impact officer for a publicly traded corporate portfolio where she leads programs that positively impact humanity. She is also the founder of 11Eleven Consulting, and she is often cited as a subject matter expert by Forbes, SHRM, Entrepreneur, U.S. News & World Report and more. linkedin.com/in/tylerbutler
The Rowe Family Foundation began when Kevin and his oldest daughter would go pick out a bike to donate to a family in need. The goal was to teach the spirit of giving to his young child, but the results were much further reaching. Today, this program, run in partnership with the McKenna Youth Foundation, is one of the most widely recognized community give-back programs in the State of Arizona. Thus far, the program has impacted thousands and has a goal to give back $1 million to support local nonprofits in 2023.
In 2019, through a partnership with the Phoenix Rescue Mission, Lerner & Rowe aired a commercial featuring “Super Kevin.” This commercial’s call to community action prompted greater engagement and support from the firm. As Kevin Rowe shared, “A key part of our company is making a positive social impact, including supporting the communities we live and work in through sponsorship, donations and time. Being able to see that work pay off is the most rewarding feeling.”
The firm’s commitment to philanthropy continues to expand. With the addition of Executive Director Jordan Moreno and the
As a fervent funder of community causes, Lerner & Rowe also sponsors roughly 20 events annually. Most notably in 2022 were A Stepping Stone Foundation’s Gala, Janice’s Women’s Center’s Gala, LovePup Family Fests and Boys & Girls Club Raise the Roof. This financial support translates to activism as well, with Lerner & Rowe employees also volunteering for many charity partners. This activation of employees who care complements the company’s larger support for events such as Paul’s Car Wash, where employees wash cars in addition to the firm’s financial support.
As executive director for LRGB, Jordan Moreno shares, “At Lerner & Rowe Gives Back, it’s important to lift others in the community in many different ways.” The upcoming grant cycle will be the catalyst to expand this impact, stretching LRGB’s reach from one corner of the state to the other while getting its employees involved in the give-back process along the way. All dollars donated support Arizona 501(c)3s as the firm is committed to helping those in need in its own backyard. With the family legacy of giving established and the growth ahead, Learner & Rowe will most certainly positively impact its most vulnerable neighbors.
Lerner & Rowe lernerandrowe.com
Lerner & Rowe Gives Back, Lerner & Rowe’s company charity arm, advocates for and improves the lives of children who live in poverty, cope with the effects of illness or disease, or otherwise need assistance. All dollars donated support Arizona 501(c)3s as the firm is committed to helping those in need in its own backyard.
Bruce Weber is founder and president/CEO at Weber Group. Weber brings more than 20 years of experience to the for-profit and nonprofit community, working with startup, growth and mature organizations. His focus is in strengthening organizations through strategic planning, organizational development, leadership and board development.
He is a BoardSource Certified Governance trainer and a founding partner of the Nonprofit Lifecycles Institute. webergroupaz.com
Creating a strategic plan is a process that a business and its employees either love or hate, and once a plan is developed, it needs to be implemented. The plan or framework is designed to help a business chart the future and envision the opportunity that lies ahead, but once the plan is completed, how does an organization move the execution of such strategy and direction into the future work forward?
Often, there are good intentions to implementing a strategic plan, but those intentions don’t aways arrive at the anticipated gain. Very often, the activity goes in a multitude of directions without a clear intended path. Let’s identify a few basic elements that a business should undertake to ensure future progress against the plan.
First and foremost, proper plan communication is key. It’s important that leaders not just email a copy of the plan to everyone and expect that each department will understand how/ways to implement. The organization needs to be engaged from the planning phase. As soon as the plan is ready, leadership should expose it to everyone because strategy presentations don’t work! Internal communication is key from the bottom up and critical to improving the communication process. According to a recent McKinsey study, guidelines and policies flow from the top and feedback and ideas funnel from the bottom. Leadership should, therefore, expose the strategy to the organization, keep it alive and up-to-date, and have everyone engage with it regularly.
Second, a collaborative culture should be fostered from the beginning. This means encouraging different teams and departments to work together toward meaningful incentives.
Keeping the end in mind, it’s important to identify areas of investment by encouraging team leaders to discuss with individuals at all levels to determine if there are shortcomings present in people, technology or infrastructure that might prevent success. Hand in hand with this is the need to be open and receptive to investments in the appropriate areas as needed.
Third, leadership should treat employees as owners in the business. One way to do this is to connect the strategy to everyone’s role and appeal to the individual’s own rational selfinterests to excel at execution. In one study, 67% of employees did not understand their role when new growth initiatives were launched. Fostering a two-way dialogue about the strategy can lead to greater organizational buy-in. Those who “own” the strategy and are rewarded for it will implement it!
Finally, it’s important to design and use success metrics that are straightforward. Even using tools as simple as red, yellow and green scorecards highlight areas that require additional focus. Also important to note, any business strategy involves some degree of change — in direction, focus, structure, process or a few other factors. What makes strategy successful is how well it’s sponsored by senior management, both in words and in actions. It is key, therefore, to ensure that the accountability system reinforces those behaviors needed to implement the strategy.
A well-planned execution process is as important as the plan/framework itself. By engaging the entire team from the onset, the business will reap tremendous benefit.
Onward with strategy implementation!
About 40% of executive leaders say their enterprise accountability and leadership are not aligned on strategy execution, according to the 2020 Gartner Execution Gap Survey.
Phoenix appears to be poised to open the doors wider to accessory dwelling units (ADUs), and for good reason. These freestanding backyard structures — also known as in-law suites, granny flats, casitas and cottages — create additional living spaces at a cost of about 40% less than a traditional renovation or home remodel. With water, sewer and electrical service, ADUs are homes in their own right, and can be used as onsite rental properties or private living quarters for family members, guests and others.
Other factors: The highest mortgage rates in 20 years are making moving more costly for those who are locked in at low rates. From an urban-planning perspective, ADUs provide a way of alleviating rental-market pressure by opening up low-profile, distributed housing that quietly preserves a neighborhood’s character. ADUs also bring rental income to homeowners and create additional housing in urban and closein suburban areas where young professionals in particular gravitate, boosting density and energizing communities economically and culturally without imposing multistory structures on largely single-family neighborhoods. An added benefit for homeowners is, they have seen appraisal values rise as much as 35% with the addition of ADUs.
Phoenix’s single-family zoning codes already allow ADUs (though they’re called “guesthouses”), but that permission comes with limitations: They must be made of similar building materials and the same architectural style as that of the main unit. Also, the ADU can’t be advertised for occupancy, it can’t have separate mail service or a separate address, and it can’t be metered separately for utilities.
There’s a movement to update that zoning. The 2020 Housing Phoenix Plan, which aims to create or preserve 50,000 affordable homes by 2030 and boost overall supply, proposes to do just that, as does the Downtown Voices Coalition/Arizona Preservation Foundation’s Gentle Density Study, which advocates for ADUs.
With all that as background, let’s talk about some specifics about ADUs. I’ll focus on prefabricated units, which comprise most of the U.S. market now.
Why go with a prefab ADU versus an onsite build? Prefab construction happens quickly in the factory (typically in three to four weeks once permitting is secured) and proceeds with minimal disruption at the customer site. Cost savings are another big benefit. High-volume, factory-based prefabrication under one roof streamlines the production of ADUs and allows customizable production at scale while avoiding supply-chain, labor, and inflation challenges typically faced by general contractors and local design-build firms. ADUs also avoid expensive architecture and design fees associated with one-off onsite builds.
Speaking of permitting: How does that work? Given the rising popularity of ADUs, zoning and permitting vary from market to market and even within a particular market. Plus,
municipalities are increasingly open-minded about ADUs, making zoning a moving target. Good news is experts at prefab ADU makers will clarify the local rules and help customers navigate the permitting process.
Are prefab ADUs customizable? Yes. Prefab ADU manufacturers offer online design studios that allow for a great deal of flexibility in an ADU’s final look and feel, from interior layouts and finishes to windows to doors to exterior paneling.
How are prefab ADUs shipped? ADUs are typically shipped using two or three large pallets, including fully panelized wall sections, preframed roof sections, prepainted siding, and prehung operable and fixed windows. The pallets are delivered using regular freight-transport networks.
Who does the onsite prefab ADU installations, and how long does it take? Onsite assembly and installation of an average-sized ADU by certified installers typically takes four to five weeks, depending on options, complexity and site conditions. If a customer chooses a DIY approach, prefab ADU makers offer guidance throughout the process.
Phoenix can get toasty. How do ADUs do on the energy-efficiency and insulation fronts? ADU building envelopes typically include above-code insulation and weatherizing with such features as Zip System wall sheathing, OSB with rubberized membranes, and ultrahigh-efficiency doors and windows. They comply with strict building-code standards, such as California’s Title 24 Building Efficiency Standards, which, among other requirements, demand that additions and new homes — including ADUs — have enough solar panels to achieve net-zero energy consumption.
ADUs run on electricity, opening the door to renewable power throughout. They typically boast tankless water heaters as well as highly efficient mini-split HVAC systems that handle both heating and cooling. Appliances tend to be both right-sized and Energy Star rated. Taken together, a well-built ADU is built tight and runs lean. That translates directly into low utility bills; indirectly, it allows our built environment to tread more lightly on the planet.
The 2020 Housing Phoenix Plan aims to create or preserve 50,000 affordable homes by 2030.
Take a proactive approach to forecasting revenue projections. Like any other revenue-generating department, the fundraising group must stay on top of its cash flow and total commitment projections, working in coordination with the finance team.
Establish gift acceptance policies. Gift acceptance policies help maintain consistency in performance measurement, how gifts are reported and counted and allows organizations to say “no” to risky donations.
Show a path toward alignment in financial statements. It’s important to explain differences between accounting and development to governance during reviews of financial statements. For other unaudited reporting, there is additional flexibility to show restricted funds, unrestricted funds and overall totals, as long as any GAAP differences are documented in the report. Reporting both total cash and total commitments will ease problems.
Establish rules of engagement to create synergy. Regular communication is key. It’s important that the two groups speak the same language to understand terminologies and clearly explain why information and reporting performance are being requested in a specific way.
Communication can help bridge the gap between those critical departments
by Richard TollefsonFriction between a nonprofit’s fundraising and finance teams is not uncommon, but it can lead to division within the organization and confusion in the boardroom. Conflict typically stems from differences in performance measurement, reporting standards and business terminology. Left unresolved, goals can become compromised, performance questioned and reputations damaged. Reconciliation and synergy between disconnected departments will lead to a stronger organization, enhanced philanthropy and greater overall community impact.
Accounting takes a black-and-white approach, whereas development dabbles in the gray.
Following strict FASB and GAAP requirements is critical for accountants. Managing donor funds is a highly regulated practice, and the finance department is responsible for ensuring the organization follows requirements and receives a clean audit report.
“This is why the finance department can seem rigid and inflexible, but ultimately it’s for the good of the organization,” says Colette Kamps, CPA and partner at Henry+Horne. “At the same time, there is opportunity for flexibility. Organizations can include any additional information through audited financial statement footnotes. They can expand on their performance, describe successes and share information they think is important or attractive to donors.”
Fundraisers often follow a different set of standards and guidelines, such as the Council for Advancement and Support of Education, which allows more flexibility. And that’s where communication can fall apart. “Building relationships, establishing direct lines of communication and creating ground rules between departments will help bridge the gap,” says Sherri Mylott, vice president of university advancement at University of La Verne.
explains Kamps. “If accounting can explain why it needs certain information at a certain time, that relationship can be much more successful.” If both teams understand why it’s important to come together to provide weekly or monthly cash flow projections, there is great opportunity for a collaborative conversation that can go a long way in building synergy.
For fundraisers and development departments, reporting true fundraising performance to the CEO and board is more than just reporting unrestricted cash, which, for many nonprofits, is king. This misalignment causes confusion that, ultimately, reflects poorly on fundraising teams.
Overcoming obstacles between reporting unrestricted versus restricted cash takes thoughtful planning and well-documented policies that meet expectations and requirements from both sides of the table.
Beyond cash, there are other factors to consider. Development and accounting can often reconcile their differences in reporting if they use two different ways of calculating contributed revenue:
1. Total commitments — an industry standard for measuring performance, cost of raising funds and more. Consists of new outright gifts, pledges, gifts in kind and planned gifts, all of which are calculated at both net present value (for accounting purposes) and face value (for donor recognition purposes).
2. Total cash — consists of new outright gifts, payments on previously booked pledges and realized planned gifts.
Strong gift acceptance policies and a performance reporting playbook should be developed in collaboration with development, finance, executive management and the board. The playbook should be reviewed and approved every few years and live on the organization’s website so major donors know how their gifts will be managed.
Richard Tollefson is founder and president at The Phoenix Philanthropy Group, an Arizona-based international consulting firm serving nonprofit organizations as well as institutional and individual philanthropists. phoenixphilanthropy.com
As in any healthy relationship, communication is key. In this situation, it’s critical the two departments “speak the same language.” Fundraisers build relationships but can’t control when a donor makes a gift, how it will be made or the amount. It is the long-term approach to optimizing relationships versus a short-term need for cash that can be misunderstood or, seemingly, misaligned.
Often, this and similar conflicts can be overcome by understanding the “why” behind a request for information,
While this playbook can help lessen misunderstanding and alleviate confusion, questions or challenges can still exist for which consistent communications are needed. This is particularly true for counting pledges when there is usually a disconnect between when the pledge is received and when the cash will be available to spend.
CEO and board reports should visually show a complete snapshot of total fundraising performance and present information in a way that makes the most sense to management. Simple reconciliation notations and differences to GAAP should be included in these reports.
Development and accounting can often reconcile their differences in reporting if they use two different ways of calculating contributed revenue: total commitments and total cash.
The soul of the iconic INFINITI FX lives on in the QX55, bringing an eye-catching crossover coupe silhouette together with performance-inspired details to create something truly new. QX55’s revolutionary 2.0-liter VC-Turbo 4-cylinder engine refuses to conform to expectations, transforming to offer both performance and efficiency without compromise. QX55 comes standard with Intelligent All-Wheel Drive, boosting performance by measuring wheelspin, throttle input and road
speed and sending up to 50% of available power to the rear wheels for better traction and control.
Driver-focused and design-forward, QX55’s bold interior space puts luxury performance first. Featuring a style all its own, QX55’s detail-oriented finishes come together to create a space as unique as QX55 drivers themselves. QX55’s cabin features a unique asymmetrical design, bending the interior space and all its accommodating performance-minded luxuries conveniently around the driver. The available contrasting Monaco Red interior speaks to QX55’s performance-inspired heritage that stands out in INFINITI’s luxury crossover coupe.
Heads will turn with INFINITI’s exclusive double-arch grille, featuring an origami-inspired signature interweave entirely unique to QX55. Eye-catching digital piano key taillights leave a lasting impression, perfectly punctuating QX55’s sloping coupe-back design. Angular curves, aerodynamic lines and a sport-inspired spoiler effortlessly complement QX55’s bold crossover coupe design — all inspired by the iconic INFINITI FX Series. —Mike Hunter
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The popular Apple Watch can be transformed into a “smart” wearable with minder, the patented, award-winning app + accessories. minder uses real-time visual biofeedback to coach and condition healthy habits like good posture, mindful breathing and purposeful breaks using a “gamified” environment and sensory cues. Designed to work on multiple touch points, minder makes healthy habits fun and produces outcomes clinically proven to reduce stress, increase strength, improve blood pressure and reduce chronic back pain.
minder reminds users when and HOW to breathe, incorporating breathing options such as “Box Breathing” and “Diaphragmatic Breathing” along with a variety of soothing nature and ambient sounds. minder conditions posture through 360-degree, realtime biofeedback, visual prompts, audio chimes and soft tapping vibrations and allows users to schedule reminders — called ME/ Mos (“Me Moments”) — to encourage mindful breaks. ME/Mos
can be anything from a meditation break to drinking a glass of water to a full workout, and are centered around mindfulness, nutrition, movement, and healthful sleep habits, empowering users to take control of daily stress factors. Benefits of minder include improved mood, focus, sleep and core strength as well as reduced pain. The web site offers a free book titled “Why Posture Matters.” —Merilee Kern, a Forbes Business Council, Newsweek Expert Forum and Rolling Stone Culture Council member
2023 INFINITI QX55
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Chili, potatoes, rice, guacamole, pico de gallo and raw vegan cheese crumble $15
Rich creamy goodness $9
Just north of Downtown Phoenix, on a bustling stretch of 7th Steet, sits an unassuming green building. Framing the parking lot, a large, life-sized sculpture replicating the iconic “Lunch atop a Skyscraper” photo beckons passersby to pause and give a second glance. Whether it’s to take a closer look at the impressive street art or to peek inside the business that erected such a symbol of hope and prosperity, it’s worth stopping to check out Giving Tree Café.
Once inside, the buzz of the city is left behind, and it’s impossible not to be enveloped by the calming energy. Faint mood music, warm natural light, elements of nature and welcoming smiles set the tone for a dining experience that feels unique. Intoxicating smells and colorful plates of food coming from the open kitchen entice guests to ask, “What’s that?” Upon exploring the menu, it becomes apparent the food coming out of the kitchen is very different.
sure each dish or beverage is not only nutrient rich but tasty and satisfying. Warr aims to create a menu that everyone, regardless of their dietary preferences, can enjoy. Giving Tree Café serves a wide variety of appetizers, soups, salads, sandwiches, entrees and its signature Krunch Raps. It also offers a selection of desserts, coffee and tea drinks, blended beverages, and cold-pressed juices and activator shots.
House-made patty, lettuce, tomato, red onion, sweet mustard, chili and cheese on a house-made bun $17
Founded in 2019 by longtime restaurateur David Warr, Giving Tree Café serves what he describes as “high vibe comfort food.” Warr is on a mission to heal and empower through food. The only restaurant of its kind in the United States, Giving Tree Café’s menu is entirely vegan, organic, soy free and gluten free. If that wasn’t already enough, everything is made in-house from scratch, down to the flour used in the baked goods.
At Giving Tree Café, the same attention that is put into sourcing quality, whole-food ingredients is also given to making
A popular sharable starter, the F.O.M.O. platter has a little bit of everything, including raw crackers, raw onion bread, veggies, hummus, guacamole, spicy vegan cheese and micro greens. It’s hard to choose from the Krunch Rap City section of the menu. A perfect contrast in textures, they’re wrapped in a light and airy lentil and rice pancake as well as a crunchy tortilla shell. The Original is stuffed with a house-made veggie burger, lettuce, guacamole, pico, hot sauce and spicy macadamia nut cheese. Other standouts include the Korean BBQ, Mediterranean and Big Maxx.
Creative entrées include the Buddha Bowl with roasted maple acorn squash, turmeric cauliflower, shishito peppers, Brussels sprouts and Bangkok sauce, served with wild rice or quinoa. Lion’s Mane Mushroom Tacos feature Warr’s special mole. The BBQ Jackfruit Pancake is a great combo of sweet and savory: BBQ jackfruit and spicy macadamia nut cheese is stuffed into a buckwheat pancake and topped with mashed potatoes, BBQ sauce, sweet mustard and maple syrup. For fans of breakfast, Giving Tree Café serves all-day breakfast items, including a Breakfast Krunch Rap, Vegan Quiche and a Buckwheat Pancake.
Whether hosting an off-site team meeting, powering through a remote working lunch or taking a midday break, patrons will find Giving Tree Café provides the proper fuel to tackle the day. Additionally, if a group needs lunch brought to the office, the restaurant can cater. According to Warr, “Every choice a company makes reflects their culture. Providing real, natural, healthy food shows they care about their employees and the impact their food choices have on the planet.”
2024 N. 7th St., Phoenix (480) 630-0200 givingtreecafe.com
The “Lunch atop a Skyscraper” replica stands as a testament to our community’s resourcefulness and resilience. Created by sculptor Blake Emory and produced by Gregory Kirschenbaum, the 24-foot-long, 20-foot-tall sculpture featuring 11 life-sized steelworkers took two years to produce by hand. A larger-than-life World War II icon, Rosie the Riveter was later added.
Do women need to see other successful female entrepreneurs to believe they can become one? Or are we, as a society, past this “proof of concept” stage? I would like to think that we have made headways to remove barriers to entry, but the numbers aren’t quite there yet to support it.
In Arizona, we have may traditions that celebrate and highlight successful women. We have high-profile annual awards and recognition programs, strong organizations for female leaders and entrepreneurs and a lot of resources. Yet, only 20.9% of employer businesses in Arizona were womanowned in 2019. That’s only one-fifth!
Same percentage was found in the U.S., according to the Census Bureau’s 2020 Annual Business Survey released on October 28, 2021. As we begin a new calendar year, I am curious where the numbers are now, and where they will in the coming years.
The National Association of Women Business Owners (NAWBO) is the unified voice of more than 11.6 million woman-owned businesses in the United States, and we are representing the fastestgrowing segment of the economy. Nationwide, the largest sectors for woman-owned businesses were healthcare and social assistance followed by professional, scientific and technical services. Veteranowned businesses made up about 5.7% of all businesses in the U.S. and 6.0% in Arizona.
In Arizona, we are seeing more women entrepreneurs entering traditionally male-dominated sectors like technology, construction, manufacturing and even newer industries like cannabis. The women I meet are remarkable, strong and talented. While they certainly didn’t need a “proof of concept” to be successful, each one that I spoke with had someone who either inspired or mentored her in the process.
As we begin a new year, I challenge you to think about legacy. Thinking of gratitude as an intersection of the past with the future. In addition to thanking the people who helped you “arrive,” consider who will be thanking you for inspiring them. If you are a woman in business or a female in a leadership role, please take a careful look at the seeds that you are planting for future generation. Who will think of you as their mentor? Who will thank you for inspiring them to push to the next level?
At NAWBO, we have a great mentoring program and many ways to support the next generation of female entrepreneurs. Please join us for one our upcoming events and learn how you can positively impact others. Whether you are an established business owner or are brand new to this game, you will find new friends and great resources as we continue to celebrate entrepreneurship!
NAWBO® prides itself on being a global beacon for influence, ingenuity and action and is uniquely positioned to provide incisive commentary on issues of importance to women business owners.
NAWBO Phoenix propels women entrepreneurs into economic, social and political spheres of power.
We provide opportunities to connect, collaborate, and cultivate through our events each month.
Events are open to both members and guests. Check out our calendar at nawbophoenix.org and join us!
Take advantage of this great opportunity to connect — we can’t wait to see you there!
Ania Kubicki is president of the NAWBO – Phoenix Chapter. She is the owner of ANGLES, a communications agency with a mission to connect ideas and the people behind them to those who benefit from them. Based at the Center for Positive Media, a newly created collaborative think tank inspiring a positive transformation of the media narrative, ANGLES works with visionaries who challenge the status quo and disrupt industries that need change. For more information visit online at www.anglespr.com.
For more infomation, visit nawbophoenix.org.
Phoenix Metropolitan Chapter of the National Association of Women Business Owners 7729 E Greenway Rd. #300, Scottsdale, AZ 85260 480-289-5768 • info@NAWBOphx.org
There’s no one-size-fits-all answer. These four steps can help you figure out the amount that’s right for you.
Ask three retirement experts how much you need to save for retirement, and you’ll likely get three di erent answers. One might respond with a specific number, say $3 million; another might suggest you save enough to let you draw down 80% to 90% of your annual pre-retirement income every year; and a third may say you should strive for 12 times your pre-retirement salary. So what’s right for you? And how do you know if you’re on track?
As you seek answers to those questions, the following steps can help you identify a sustainable savings target, one designed to support your desired lifestyle over a retirement that could last 30 years or more. Knowing that can be useful in figuring out whether you need to adjust your current savings and investment plan.
“There are multiple personal variables to weigh when starting to think about how much you’ll need to save for retirement,” says David H. Koh, managing director and senior investment strategist, Chief Investment O ce, Merrill and Bank of America Private Bank. Your current age may be among the most important. Especially if you’re young and in good health, your retirement may last several decades, he notes. No matter what your current age is, however, you may find that you end up retiring earlier (or later) than expected based on unforeseen circumstances. Either situation could a ect the number of years you will need to rely on your assets for income, and it’s important to plan for those possibilities.
Having a clear idea of the sort of lifestyle you want in retirement will help you estimate how much it could cost annually. Start by thinking about your essential or non-negotiable regular expenses, such as a roof over your head, food on the table and out-of-pocket healthcare expenses. Then consider expenses that are important to your lifestyle, which might be anything from dining out and regular travel to o ering financial support to aging parents or helping adult children or grandchildren with education. Keep in mind, too, that some essential expenses—such as your own healthcare spending—may increase in retirement, while your retirement lifestyle may shift as you age.
Finally, consider any aspirational or discretionary goals you may have, like purchasing a second home or pursuing certain philanthropic activities during retirement. Just as you juggle and prioritize competing goals when you’re younger, you’ll need to do the same in retirement.
Once you have a target annual income figure in mind, take an audit of all of your anticipated sources of retirement income (retirement accounts, Social Security, possibly a pension, annuities, rental income and an inheritance or sale of a business) and calculate how much you could potentially draw from them once you retire. Your personal retirement accounts may be one of your biggest sources of income, and you could be
surprised by how much — or how little — even a seemingly large retirement account could provide over the course of a long retirement.
You will then be ready to consider any adjustments you might need to make to pursue your retirement goal. If you’re now in your mid-30s, you may have 30 years to build assets, but if you’re relatively close to retirement, a first step may be figuring out what you’re spending today and calculate whether you’re currently on track to support that in retirement. “Even if you find that you’re behind where you want to be, don’t get discouraged,” advises Jeremy Kaneer, director, Retirement & Personal Wealth Solutions for Bank of America. “There are a number of ways that you can catch up.” First, be sure you’ve maxed out tax-advantaged retirement plans, such as a 401(k) or IRA, and taken advantage of any employer match. And don’t forget that if you’re over 50, you may be eligible for additional “catch-up” contributions. “If that’s still not enough, consider other ways to invest for your retirement goals,” says Kaneer.
Tax-advantaged options include certain annuities and cash-value life insurance. You might also want to consider participating in a highdeductible health insurance plan, Kaneer adds. When you do that, you’re eligible to contribute pre-tax dollars to a health savings account, which can be rolled over year after year and used in retirement for more than healthcare costs.
Beyond saving, you might want to consider revisiting your investment strategy, Koh says. “Asset allocation and thoughtful, goals-based portfolio management are two things that can potentially steer you to a better retirement outcome.”
Remember, too, that retirement is a journey, adds Kaneer. “You can always change course if you need to — maybe by working a few years longer or adjusting your expenses.” But by starting early and planning ahead to pursue a specific attainable goal, you’ll have a far better chance of living the life you truly want in retirement.
For more information, contact Merrill Financial Advisor Ashley Ament in the Scottsdale, Ariz, o ce at fa.ml.com/arizona/ scottsdale/barnettament/
Opinions are as of the date of this article 3/31/2022 and are subject to change. Investing involves risk including possible loss of principal. Past performance is no guarantee of future results.
This information should not be construed as investment advice and is subject to change. It is provided for informational purposes only and is not intended to be either a specific o er by Bank of America, Merrill or any a liate to sell or provide, or a specific invitation for a consumer to apply for, any particular retail financial product or service that may be available.
The Chief Investment O ce (CIO) provides thought leadership on wealth management, investment strategy and global markets; portfolio management solutions; due diligence; and solutions oversight and data analytics. CIO viewpoints are developed for Bank of America Private Bank, a division of Bank of America, N.A., (“Bank of America”) and Merrill Lynch, Pierce, Fenner & Smith Incorporated (“MLPF&S” or “Merrill”), a registered broker-dealer, registered investment adviser and a wholly owned subsidiary of Bank of America Corporation (“BofA Corp.”).
Investments have varying degrees of risk. Some of the risks involved with equity securities include the possibility that the value of the stocks may fluctuate in response to events specific to the companies or markets, as well as economic, political or social events in the U.S. or abroad. Bonds are subject to interest rate, inflation and credit risks. Treasury bills are less volatile than longer-term fixed income securities and are guaranteed as to timely payment of principal and interest by the U.S. government.
Insurance and annuity products are o ered through Merrill Lynch Life Agency Inc., a licensed insurance agency and wholly owned subsidiary of Bank of America Corporation. All annuity contract and rider guarantees, or annuity payout rates and all insurance policy guarantees, are the sole obligations of and backed by the claims-paying ability of the issuing insurance company. They are not obligations of or backed by Merrill or its a liates, nor do Merrill or its a liates make any representations or guarantees regarding the claims-paying ability of the issuing insurance company.
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© 2022 Bank of America Corporation. All rights reserved. | MAP4639170 | WP-10-22-0389 | 472503PM-0322 | 11/2022
President: Ania Kubicki
President-Elect: Suzi Freeman
Treasurer: Evelyn Schickling
Secretary: Mel Carr
Past-President: Rosaria Cain
Membership Chair: Imelda Hartley
Membership Co-Chair: Suzi Glover-Garman Marketing Chair: Nancy A Shenker
Programming Chair: Cheryl James Corporate Partners Co-Chair: Ashley Ament
Corporate Partners Co-Chair: Christina Heide
Neighborhood NAWBOS Chair: Ginger Clayton
Mentoring Chair: Suzi Glover-Garman
Mentoring: Rosaria Cain
Public Policy Chair: Sindi Martinez
Community Alliance: Debe Black Community Alliance Co-Chair: Jodii Zimmerman
Content: Sandra Guadarrama-Baumunk
Strategic Planning: Jennifer Drago Diversity and Inclusion: Tish Times
Commerce Bank of Arizona CopperPoint Insurance Company Crest Insurance Financial Potion In Business Magazine The On Switch Phoenix Business Journal PriceMyAc.com Primo Promos
Salt River Project Splash Urman Enterprises Website Design Plus Wells Fargo Financial
Bank of America Chubb Merrill Lynch Southwest Airlines Wells Fargo
For those who have been in business long, you have no doubt learned that the many challenges which have hit business — especially small business — are adding up. We had the Great Recession, The Pandemic, inflation and interest rates that have doubled in the past few months. So, how do we not only stay in business but sustain our employees and grow our revenue?
We pivot. The pivot entails finding a unique market position that is authentic to our brand and use it to propel the business into profitability. Here are the five steps to a proper pivot:
1. Know what are your customers (or clients) thinking. Since so much has changed in the last few years, we should assume that our customers are not thinking or doing the same things they were in 2019. Mindsets have changed. So have their habits, their priorities and their buying habits. Research by industry is a great place to start. The internet is a robust garden of research and an excellent place to start. Look for trends in white papers, industry newsletters, studies, and data supplied by experts in the field. There are also reports you can buy on almost any industry for a nominal cost. One such provider is reportlinker.com/reports. This information will provide a backdrop of the big picture.
Now, we need to delve into the finer points. We need to find what individuals are thinking. Focus groups are an e ective way to get answers directly from those in the market for what you do. Using a platform such as Zoom o ers a way to interview people from all over the country in a recorded focus group while people are in the comfort of their living room. You can find the potential customer groups easily with websites such as userinterviews.com, where you find your recipients and target them specifically by what you are looking for. Keep in mind, it is necessary to compensate them for their time and it will result in a much better sample if you o er a minimum of $50 per research subject. We have done this with great success and our clients love watching their potential customers talking about what they are looking for, what they like or not like about their website, what they will pay for a service or product, etc.
2. Build a persona of who your customer is. Once you know what your potential customer is thinking, it’s time to create a profile of who they are, what they look for, what they value, how old they are and what is important to them. This will
enable you to talk directly to them, their hopes and their fears every time you create a marketing message. This will help you focus your messaging on your website, social media, advertising and everything you do to attract customers.
3. Create a competitive audit. The easiest way to do this is to pull up the websites of your business’s competitors. What insights do they use in their marketing? An insight is an undeniable truth (which always seems obvious) that makes them unique and is used to sell product or services. Another area for competitive insights is their customer reviews. Look at who your competitors are targeting, how satisfied they are, and what they value. Once you gather this, put it on a whiteboard or grid. This will make it easier to interpret the data and draw some conclusions. This might be more helpful with your team, and it seems to go better in a group.
4. Prepare a brand analysis. This isn’t as intimidating as it sounds. Create a grid with columns. Column 1 is your company. Down the column, write the current messages you are using to attract customers. Add one column for each competitor and do the same for each of them. It may take a few days to gather their messaging, which can come from websites, mailers, digital ads, email campaigns and other media.
5. Develop an overall insight. As you pore over all this data, what are the commonalities you see between the consumer, competition and brand insights? This usually results in an insight that can be a brand spark for your marketing.
During the great recession, we were working with the CEO of Fulton Homes.
The consumer insight: Customers aren’t excited about buying new homes when all these great deals are coming from foreclosures and the resale market.
The competitive insight: Homebuilders were selling with incentives, devaluing the worth of what they sell in order to move units since most were public builders. They were doing very little brand advertising.
The brand insight: Fulton Homes was the only builder doing branding that included “Proud to own, Proud to build” messaging, the importance of community, and cause marketing in water safety and education to show they cared about the community.
The overall insight: Fulton Homes’ primary competition wasn’t other homebuilders. It was foreclosures.
Execution: We did a campaign that emphasized all the bad news stories regarding foreclosures: missing appliances, dead animals left behind, mold, etc.
Here is a link with an example: www.youtube.com/watch?v=8tZfE1R-2xo
Rosaria Cain is CEO of Knoodle, a woman-owned business founded in 1999. She works with a team of 12 professionals in the area of branding, public relations, social media, digital and media to help clients meet their goals, find insights, and create new and improved revenue streams. The Knoodle team still works with Fulton Homes today, 23 years after they became a client. knoodle.com
What if it were not such a massive issue for you to have your cash register ring regularly or for sales to come in while you sleep? What if that was your reality? I have four P’s to help you get there.
The first P is for patience. Stop treating yourself as a transaction. Developing new business relationships will take some time. You’ll need to be a little more creative in the way you attract new people and build those relationships.
If you are in it for the transaction, you’re just going to get that; you might get one or two sales from that individual. But if you’re willing to invest the value into that person or that company, you build long-term, generational relationships; they do business with you, refer you to their kids and their kids beyond that, their other friends, so on and so forth.
The second P is for persistence, for the same reason. Frequently, we want things to happen quickly, and when they don’t happen right away, we jump out of the process and hinder or stop our success. Be persistent. Create a multi-pronged approach to the way you were locating and qualifying new, ideal clients. Don’t get discouraged. Get data. Take the time to track what’s working, and don’t quit until you are positive that it isn’t creating momentum toward more revenue.
The third P is for professionalism. Don’t get bent out of shape when someone doesn’t call you back. You have to give them a reason to want to have you as an extended part of their team. If we’re not giving them a reason, we can’t expect them to respond.
Reevaluate what you are doing or not doing that is causing that disconnect between yourself and prospective clients.
The last P is, “it’s not personal.” Stop making it about you. If you care about the people you are called to serve, then you can’t take it personally when that takes longer than you anticipated. Stay in the process; stay in the game for the people who need the transformation you have to o er to them. Whatever it is that you do, make it extremely valuable. Make them want to click the button; make them want to take the call and respond to you. In some cases, they might want to even seek you out because of the value you’re bringing to the table.
Lastly, make yourself systematic. That means you have to put some follow-up automation in place, so you put yourself at the forefront of their minds when they need what you have to o er. They’re going to call you because you have made yourself valuable and memorable. Remember to be persistent, consistent, make it about them, make it something they recognize that value in, and do it regularly. Systematic sales behavior can completely change your business.
Tish Times is the founder of Tish Times Sales Agency. For more than 10 years, Times has been empowering business owners to create revenuegenerating business connections, shorten the sales cycle, and close sales with ease. You can find her at www.TishTimes.com
When my husband and I got married, I was making twice as much money as he was, but when it came time to start a family, we both agreed my time was best spent taking care of our children. In our opinion, there was nothing more important than raising confident, self-reliant, self-su cient, productive, financially independent and contributing members of our society. As such, I quit my job and spent the next 15 years being a stay-athome mom.
While it was a di cult decision for us to make at the time, 33 years later, I can say with confidence it was one of the best decisions I ever made.
I am not advocating that all women should leave their jobs and become stay-at-home moms, but I want to show that deciding to focus on your family does not mean you can’t also succeed as a professional. In fact, now that my kids are all grown up and I reflect back on my last 10 years running KORE Accounting Solutions, it’s clear that the skills I gained during my time as a “domestic engineer” (as my kids like to say) prepared me for my life as a business owner:
• Negotiating – kids are master negotiators
• Problem Solving – managing limited resources and putting out fires is a daily occurrence in a family with four boys
• Prioritizing – managing everyone’s needs and desires when it’s impossible to do it all
• Leadership – empowering kids by example to be true to their values
• Multitasking - getting things done that you need to do while also getting things done that everyone else needs you to do
• Time Management – using time wisely and fitting the activities of six people into 24-hour days
• Budgeting – meeting the needs of a family of six on one salary
• Utilizing Technology – I was an early user of Quicken to track and manage our family finances
• Customer Service (aka Patience) – being patient while managing and resolving complaints, even when my kids weren’t being rational
My customers often hear me use analogies and examples from my stayat-home days, and the skills I gained over my 15 years as a full-time parent are poignant and applicable to everything I do professionally today.
While being an entrepreneur and owning my own business has always been a dream of mine, there is no doubt that the most important job I’ve ever had or will have is being a mother to my four sons. Fortunately, my job as a stay-at-home mom was incredible preparation for my job as a business owner, and I am blessed to have the opportunity to do both!
Inna Korenzvit is founder and principal accountant at KORE Accounting Solutions, a future-focused management accounting firm specializing in providing legal professionals and business owners with the data and insights they need to stay compliant and run more profitable firms. koreaccounting.com
Like most business owners, you probably want more profit. More profit means you can start living the life you love. You’ll have more time for family, vacations, self-care and investing in other things! One way to make more profit is by hiring and expanding your team. (This is true even if you think you can’t a ord it.)
Expanding your team beyond yourself is essential to building a successful, more profitable business. It’s the moment in your business when you finally take it seriously and realize you will not get where you want to go on your own. Your team can consist of employees and sta , but it can also include virtual independent contractors. Your team is everyone who plays a part in moving your business forward.
As the owner of a successful virtual assistant company, I’m here to tell you that hiring “the right” virtual assistant (or two or three) can be invaluable. Your VA can take on a variety of tasks, freeing up your time so you can focus on the marketing and sales activities it takes to grow your business.
But with so many choices out there, how do you know which virtual assistant is right for you?
When looking to hire your first virtual assistant, there are six key things to keep in mind.
1. It’s essential to find someone who is a good fit for your business and your personality.
2. You’ll need to decide what tasks you want your VA to handle. Define the tasks you need help with. Before you start your search for a virtual assistant, take some time to sit down and think about all the tasks you need help with daily or weekly. This could include things like social media management. But remember to specify: Is it the content creation you need help with, the writing and image creation, or just the posting? Or do you need help in all those categories, plus the engaging with others online? There is more than one task when it comes to social media. What about handling customer service, scheduling appointments, data entry, updating your website, posting on your blog, or even just general administrative work? I’ve gone into depth on a few of the most common tasks I see business owners delegating below. Having a clear idea of the tasks you need help with makes it easier to find a VA who is a good fit for your business. And remember: First, you want to
delegate the things that take up the most time in your day and/or the things you’re not so good at. And you will certainly want to delegate those things which you dread doing.
3. Consider your prospective VA’s skills and experience; not all virtual assistants are created equal! When you’re searching for your perfect VA, be sure to look at their skills and experience to ensure they’re a good fit for the tasks you need help with. For example, if you need help with social media management, look for a VA with experience in that area.
4. Set up a trial period. Once you’ve found a few potential virtual assistants, set up a trial period to see how they work and if they’re a good fit for your business. Make sure you set clear expectations, deadlines and communication channels. This trial period could be anything from a few days to a couple of weeks — it just depends on what works best for you. During this time, please provide feedback to the VA so they can adjust their work to better suit your needs.
5. Ask for recommendations. If you’re unsure where to start your search for a virtual assistant, ask your friends or business associates for recommendations. Chances are, someone you know has already hired a VA, and they can point you in the right direction.
6. Utilize online resources. There are several great online resources that can help you find a qualified virtual assistant, such as job boards; directories like Fiverr, Upwork, 99Designs; and social media VA groups. Be sure to use these resources when searching for your perfect VA! (Oh, and come see me, too, at Cloversy.com, I’ll bet we can help!)
The hiring process for a virtual assistant is like hiring any other employee. You want to make sure that the person you hire is qualified and capable of performing the tasks you need them to do. When interviewing potential candidates, be sure to ask about their experience, skills and availability.
You should also create a list of tasks or jobs that you need to delegate to free up your time to grow your business. Be sure to give your virtual assistant clear instructions and deadlines for each task. By following these tips, you’ll be well on your way to finding and hiring your first, second or even third virtual assistant!
And if you would like to speak with me about what my team and I can help you with, I’ve put together a special page on my website with a big list of 40-plus tasks you could delegate, as well as a free video training on how to build and grow your team. You can also have a virtual or in-person conversation with me! Visit www.cloversy.com/40tasks and get going today!
Mel Carr is the founder of Cloversy, a U.S.-based executive virtual assistant company that supports entrepreneurs who are looking to scale their businesses. She has a wealth of experience in helping business owners manage their time and priorities. Cloversy was created to provide highquality support to entrepreneurs who want to grow their businesses without sacrificing their time or energy. Carr is passionate about helping business owners achieve their goals. cloversy.com
Top Valley venues, hotels and unique ideas for holding the best meetings and conventions here
Whether you’re looking to spark innovation and blue-sky thinking at intimate board retreats or to invigorate an entire industry at a large conference, Scottsdale offers distinctive, exceptionally functional meeting venues. And, when you step outside those venues into Scottsdale’s refined desert environment and year-round sunshine, the real inspiration happens.
Have you ever wondered what your handshake says about you? Your handshake is like your business card. It conveys your confidence, credibility and influence without a single word being spoken. Studies have shown this one simple gesture can enhance a social situation and make a positive impact on others.
In our culture, a handshake accompanies almost every introduction and initiates many conversations. It sets the tone for new relationships by signaling others of your integrity. People often admit to judging others based on this small gesture. Because of this, The Journal of Personality and Social Psychology encourages everyone to pay attention to their handshake as it has found significant consistencies in a firm handshake and a positive first impression.
Make a great first impression by considering your handshake and what it says about you, and avoid these eight types of handshakes that will hurt your influence with others:
Dead Fish — Also known as the limp noodle, this handshake conveys weakness and uncertainty. It gives people the impression
you have a passive personality and can be easily overrun. Don’t use this handshake even when tempted to be gentle with a person due to age or gender.
Hand Crusher — Want someone to forget your name immediately? Squeeze their hand with constant force. They’ll be so distracted by the pain that they’ll tune out anything you say. This type of handshake diminishes trust others are willing to place in you. It sends the message you’re trying too hard, and people will likely question what you say after that.
Long Lingerer — Few things can make a handshake recipient more uncomfortable than someone who won’t let go of their hand. Handshakes should be no more than two seconds in length. Anything longer begins to cross personal boundaries and feels like a desperate invasion of space.
Hip Hipster — First bumps and fancy handshakes have their place — with friends and family. They have no business in the workplace. They reflect a lack of awareness and a need to be revered as “cool” not credible. Images of frat boys
We hope you will enjoy this comprehensive compilation of the Valley’s top sites for business events, conventions and meetings. Our Valley is home to some of the best properties, with state-of-the-art technology and facilities to ensure the success of your next great event. In Business Magazine has compiled this guide so companies can compare amenities and make choices for their local events. This guide will be online at www.inbusinessphx.com for a full year.
and football parties come to mind instead of experienced professional.
Brush Off — A handshake is intended to kick-start a meaningful connection. When shaking someone’s hand, be deliberate with your eye contact and don’t rush the exchange. Nothing makes someone feel like they’re unimportant or being blown off quite like shaking hands with a person in a rush or looking around at others.
Wet Weasel — We all get nervous and have anxiety before big meetings or introductions. It’s natural. What isn’t natural, however, is the feeling of contacting someone’s sweaty palms. So, if you know you are likely to have unusually wet palms, carry a handkerchief in your pocket to use just before an introduction. Also, you can wash your hands with cold water to help keep them cool under pressure.
Hand Hugger — We’ve all shaken hands with someone who uses both of theirs to embrace ours both top and bottom. While this is perfectly normal in a personal situation with friends and family, it’s out of place in a professional setting. You can convey a message of warmth with your eyes, smile and choice of words. There is no need to embrace someone’s hand in such a personal manner.
Shugger — This is a handshake that pulls the receiver closer to you physically, almost as if you were going to hug the other person. It forces that person to come closer as your hand stays closely tucked into your body. While this type of handshake is common among friendly colleagues and peers, it sends a message of favoritism to those on the outside looking in. Remember your handshake conveys a message to everyone, not just the person with whose hand you’re shaking.
Practice the perfect handshake first by seeking feedback on yours. Ask someone you trust to help identify areas of opportunity. Then practice it on others to solicit feedback and more guidance until you’ve mastered the art.
Some keys to the perfect handshake:
• Anticipate the handshake. Ensure your hand is free, out of your pocket and not holding onto any items. Switching hands to shake is distracting and awkward.
• Use your right hand. Even if you’re a leftie, our culture dictates right-handed handshakes as key.
• Maintain a strong, confident posture. Remain upright and refrain from leaning. If necessary, take a step toward the person with whom you’re greeting. If you’re seated upon meeting someone, stand up before shaking their hand. This signifies respect to the person you’re meeting.
• Make intentional eye contact as you greet the other person. Once your hand makes a connection, ensure your eyes connect, too. Use a kind greeting such as “nice to meet you” or “great to see you again.” Incorporate their name with your greeting to help better solidify your introduction. This interaction trifecta will warm up anyone with whom you connect.
• Remain firm throughout the handshake. Grasp the other person’s hand with a firm grip without squeezing. Maintain the grip for two seconds before releasing. Don’t allow your hand to fall limp upon the initial grip.
• Shake from your elbow, not your wrist. Two or three pumps will do. Any more and your partner will begin to feel uncomfortable.
You want to be so confident in your handshake style that it is second nature. Seeking feedback and frequent practice will help solidify your good habits, so you can concentrate more on meeting the person and less on the impression you’re making. The more comfortable you become, the more confidence you’ll convey.
Stacey Hanke is the founder and communication expert of Stacey Hanke Inc. (staceyhankeinc.com). She is the author of Influence Redefined: Be the Leader You Were Meant to Be, Monday to Monday and Yes You Can! Everything You Need From A to Z to Influence Others to Take Action. Hanke and her team have delivered thousands of presentations and workshops for leaders of Fortune 500 companies, including Coca-Cola, Nationwide, FedEx, Kohl’s and AbbVie.
Meeting norms, ground rules, guidelines — these set the foundation for building an effective meeting habit. They often include things like use of an agenda and keeping meetings on time. Whatever your rules, the leadership team must follow them. The way the leadership group meets sets the real standard everyone else follows.
J. Elise Keith, co-founder of Lucid Meetings (www.lucidmeetings.com) and author of Where the Action Is: The Meetings That Make or Break Your Organization
Black Canyon Conference Center 9440 N. 25th Ave. Phoenix, AZ 85021 (602) 944-0569 blackcanyonconferencecenter.com Phoenix 21 5,169 51,000 n/a
Desert Willow Conference Center 4340 E. Cotton Center Blvd. Phoenix, AZ 85040 (602) 431-0001 desertwillowconferencecenter.com Phoenix 11 5,435 40,000 n/a
Poco Diablo Resort & Conference Center 1752 Arizona 179 Sedona, AZ 86336 (928) 282-7333 pocodiablo.com Sedona 10 3,300 8,500
Glendale Civic Center 5750 W. Glenn Dr. Glendale, AZ 85301 (623) 930-4300 glendaleciviccenter.com Glendale 2 12,788 40,000 n/a
Mesa Convention Center 263 N. Center St. Mesa, AZ 85201 (480) 644-2178 mesaconventioncenter.com Mesa 15 19,000 40,000 n/a
Phoenix Convention Center 100 N. 3rd St. Phoenix, AZ 85004 (602) 262-6225 phoenixconventioncenter.com Phoenix 90 46,000 160,000 n/a
Experience Scottsdale 4343 N. Scottsdale Rd., Suite 70 Scottsdale, AZ 85251 (480) 421-1004 experiencescottsdale.com
Glendale Convention & Visitors Bureau 9494 W. Maryland Ave., Third Floor Glendale, AZ 85305 (623) 930-4500 visitglendale.com
Greater Phoenix Convention & Visitors Bureau 125 N. 2nd St. Phoenix, AZ 85004 (602) 254-6500 visitphoenix.com
Tempe Tourism Office 222 S. Mill Avenue, Suite 120 Tempe, AZ 85281 (480) 894-8158 tempetourism.com Tempe
Visit Mesa 120 N. Center St. Mesa, AZ 85201 (480) 827-4700 visitmesa.com
Camby Hotel 2401 E. Camelback Rd. Phoenix, AZ 85016 (602) 468-0700 thecamby.com
Doubletree by Hilton Chandler 7475 W. Chandler Blvd. Chandler, AZ 85226 (480) 961-4444 chandlersouthgatehotel.com Chandler
Courtyard Scottsdale Old Town 3311 N. Scottsdale Rd. Scottsdale, AZ 85250 (480) 429-7785 marriott.com Scottsdale
Crowne Plaza Hotel Phoenix –Airport 4300 E. Washington St. Phoenix, AZ 85034 (602) 273-7778 crowneplazaphx.com Phoenix
DoubleTree by Hilton Hotel Phoenix Tempe
2100 S. Priest Dr. Tempe, AZ 85282 (480) 967-1441 hilton.com Tempe
DoubleTree Suites by Hilton Phoenix 320 N. 44th St. Phoenix, AZ 85008 (602) 225-0500 doubletreephoenix.com Phoenix
Chaparral Suites Hotel Scottsdale 5001 N. Scottsdale Rd. Scottsdale, AZ 85250 (480) 949-1414 chaparralsuites.com Scottsdale 21 11,200 25,000 312
Four Points by Sheraton North 2532 W. Peoria Ave. Phoenix, AZ 85029 (602) 943-2341 four-points.marriott.com Phoenix 13 5,400 13,000 250
Embassy Suites by Hilton Phoenix Biltmore 2630 E. Camelback Rd. Phoenix, AZ 85016 (602) 955-3992 hilton.com Phoenix 8 3,696 10,000 232
Embassy Suites Hotel PhoenixTempe 4400 S. Rural Rd. Tempe, AZ 85282 (480) 897-7444 hilton.com Tempe 10 4,000 10,000 224
Hilton Phoenix/Mesa 1011 W. Holmes Ave. Mesa, AZ 85210 (480) 833-5555 hilton.com Mesa 17 5,600 25,000 260
Hotel Palomar Phoenix, A Kimpton Hotel 2 E. Jefferson St. Phoenix, AZ 85004 (602) 253-6633 hotelpalomar-phoenix.com Phoenix 10 3,159 10,000 242
Venue
Hotel San Carlos 202 N. Central Ave. Phoenix, AZ 85004 (602) 253-4121 hotelsancarlos.com Phoenix 2 702 1,200 128
Hotel Valley Ho 6850 E. Main St. Scottsdale, AZ 85251 (480) 376-2600 hotelvalleyho.com Scottsdale 11 4,000 13,000 191
Hyatt Regency Phoenix 122 N. 2nd St. Phoenix, AZ 85004 (602) 252-1234 phoenix.hyatt.com Phoenix 32 12,000 45,000 693
Phoenix Airport Marriott 1101 N. 44th St. Phoenix, AZ 85008 (602) 273-7373 marriott.com Phoenix 15 750 24,716 347
Renaissance Phoenix Downtown Hotel 100 N. 1st Street Phoenix, AZ 85004 (602) 333-0000 marriott.com Phoenix 20 20,000 50,000 527
Renaissance Phoenix Glendale Hotel & Spa 9495 W. Coyotes Blvd. Glendale, AZ 85305 (623) 937-3700 renaissanceglendale.com Glendale 17 3,400 115,085 320
Fear of missing out (FOMO) compels people to attend meetings they shouldn’t. Organizers don’t want to leave people out, so they invite everyone who might possibly want to weigh in. Having irrelevant people in the room de-energizes the conversation and disrupts productivity.
Documented meeting results are the fastest and easiest way to combat meeting FOMO. Before the meeting, clearly document the meeting purpose and desired outcomes. After the meeting, send
out written meeting results. When people can see in advance what a meeting is for, then see afterwards what happened, they can decide whether they need to attend. This keeps meetings more focused, and it keeps everyone more productive. —J. Elise Keith, co-founder of Lucid Meetings (www.lucidmeetings.com) and author of Where the Action Is
Scottsdale Marriott Suites Old Town 7325 E. 3rd Ave. Scottsdale, AZ 85251 (480) 945-1550 marriott.com Scottsdale 13 1,400 9,755 243
Sheraton Crescent Hotel 2620 W. Dunlap Ave. Phoenix, AZ 85021 (602) 943-8200 sheratoncrescent.com Phoenix 18 8,064 40,000 342
Sheraton Phoenix Airport Hotel – Tempe 1600 S. 52nd St. Tempe, AZ 85281 (480) 967-6600 sheratonphoenixairport.com Tempe 9 3,450 9,181 209
Sheraton Grand Phoenix 340 N. 3rd St. Phoenix, AZ 85004 (602) 262-2500 sheratonphoenixdowntown.com Phoenix 20 27,170 112,00 1,000
Windemere Hotel & Conference Center 5750 E. Main St. Mesa, AZ 85205 (480) 985-3600 windemerehotelmesa.com Mesa 12 3,600 8,500 114
Wyndham Garden Phoenix Midtown 3600 N. 2nd Ave. Phoenix, AZ 85013 (602) 604-4900 wyndhamhotels.com Phoenix 4 5,000 5,000 160
Arizona Biltmore, A Waldorf Astoria Resort
2400 E. Missouri Ave. Phoenix, AZ 85016 (602) 955-6600 arizonabiltmore.com Phoenix 76 24,576 200,000 740
Arizona Golf Resort & Conference Center
425 S. Power Rd. Mesa, AZ 85206 (480) 832-3202 arizonagolfresort.com Mesa 9 5,170 12,000 186
Arizona Grand Resort & Spa 8000 Arizona Grand Pkwy. Phoenix, AZ 85044 (602) 438-9000 arizonagrandresort.com Phoenix 125 14,031 120,000+ 744
Civana Carefree 37220 N. Mule Train Rd. Carefree, AZ 85377 (480) 653-9000 civanacarefree.com Carefree 26 11,000 60,000 224
CopperWynd Resort & Club 13225 N. Eagle Ridge Dr. Scottsdale, AZ 85268 (480) 333-1900 copperwynd.com Scottsdale 4 6,000 8,000 32
Crowne Plaza Phoenix Chandler Golf Resort
1 N. San Marcos Pl. Chandler, AZ 85225 (480) 812-0900 sanmarcosresort.com Chandler 16 9,600 35,000 249
There are 16 different types of business meetings, and each has a purpose. A regular team meeting is good for confirming progress and identifying problems, but it’s a lousy place to make a big decision. Big decisions demand a dedicated decision-making meeting. Similarly, the initial meeting with a prospective client (or funder) should look very different from the meeting where you ink the deal. Each of these pivotal meetings can be optimized to drive the results your company needs.
High-performance organizations know the type of meetings they need to run and how to run each one well. Each meeting gets a name and becomes “the way” that kind of work gets done. For example, the team’s check-in meeting becomes “the huddle.” The meeting to impress prospective clients early in the sales cycle becomes a “services briefing.” Anything called simply a “meeting” isn’t specific enough. —J. Elise Keith, co-founder of Lucid Meetings (www.lucidmeetings.com) and author of Where the Action Is
DoubleTree Resort by Hilton Hotel Paradise Valley Scottsdale 5401 N. Scottsdale Rd. Scottsdale, AZ 85250 (480) 947-5400 hilton.com Scottsdale 23 12,064 40,000 378
Fairmont Scottsdale Princess 7575 E. Princess Dr. Scottsdale, AZ 85255 (480) 585-4848 fairmont.com/scottsdale Scottsdale 49 23,000 <150,000 648
FireSky Resort & Spa 4925 N. Scottsdale Rd. Scottsdale, AZ 85251 (480) 945-7666 fireskyresort.com Scottsdale 13 6,800 14,000 240
Found:RE Hotel Phoenix 1100 N. Central Ave. Phoenix, AZ 85003 (602) 875-8000 foundrehotels.com Phoenix 3 1,243 6,920 104
Four Seasons Resort Scottsdale at Troon North 10600 E. Crescent Moon Dr. Scottsdale, AZ 85262 (480) 515-5700 fourseasons.com/scottsdale Scottsdale 8 5,940 35,920 210
Grand Canyon Squire Inn 74 Arizona 64 Grand Canyon Village, AZ 86023 (928) 638-2681 grandcanyonsquire.com Grand Canyon 3 3,400 4,500 250
Harrah’s Ak-Chin Hotel & Casino 15406 N. Maricopa Rd. Maricopa, AZ 85139 (480) 802-5000 caesars.com/harrahs-ak-chin Maricopa 4 4,020 5,000 300
The Hermosa Inn 5532 N. Palo Cristi Rd. Scottsdale, AZ 85253 (602) 955-8614 hermosainn.com Scottsdale 4 1,989 2,326 34
Hilton Scottsdale Resort & Villas 6333 N. Scottsdale Rd. Scottsdale, AZ 85250 (480) 948-7750 hilton.com Scottsdale 7 10,000 25,000 235
Hyatt Regency Scottsdale Resort & Spa at Gainey Ranch 7500 E. Doubletree Ranch Rd. Scottsdale, AZ 85258 (480) 444-1234 hyatt.com Scottsdale 32 14,280 70,000 493
JW Marriott Phoenix Desert Ridge Resort & Spa 5350 Marriott Dr. Phoenix, AZ 85054 (480) 293-5000 marriott.com Phoenix 40 33,218 311,853 950
JW Marriott Scottsdale Camelback Inn Resort & Spa 5402 E. Lincoln Dr. Scottsdale, AZ 85253 (480) 948-1700 marriott.com Scottsdale 20 19,968 91,119 453
The Legacy Golf Resort 6808 S. 32nd St. Phoenix, AZ 85042 (602) 305-5500 golflegacyresort.com Phoenix 3 1,200 2,164 328
The McCormick Scottsdale 7401 N. Scottsdale Rd. Scottsdale, AZ 85253 (480) 948-5050 millenniumhotels.com Scottsdale 6 2,365 13,000+ 125
Tip 4: Train everyone.
Leaders spend up to 80 percent of their workday in meetings, yet many have never received meeting training. Meetings aren’t just conversations with a lot of people; there are skills and techniques to learn that radically improve meeting results.
High-performance organizations provide skills training to people leading meetings. They also train everyone how to
participate in the meetings, defined as “the way” to get their job done. Meetings represent an enormous salary investment, and high-performance organizations ensure their people get a good return on that investment. —J. Elise Keith, co-founder of Lucid Meetings (www.lucidmeetings.com) and author of Where the Action Is
Mountain Shadows 5445 E. Lincoln Dr. Scottsdale, AZ 85253 (480) 624-5400 mountainshadows.com
Omni Scottsdale Resort & Spa at Montelucia
4949 E. Lincoln Dr. Scottsdale, AZ 85253 (480) 627-3200 omnihotels.com/hotels/scottsdalemontelucia Scottsdale
Orange Tree Golf Resort 10601 N. 56th St. Scottsdale, AZ 85254 (480) 948-6100 extraholidays.com Scottsdale 4 5,000 10,000 160
The Phoenician Scottsdale 6000 E. Camelback Rd. Scottsdale, AZ 85251 (480) 941-8200 thephoenician.com Scottsdale 26 20,533 160,000+ 643
Phoenix Marriott Resort Tempe at The Buttes 2000 W. Westcourt Way Tempe, AZ 85282 (602) 225-9000 marriott.com Tempe 15 10,000 40,000 354
Pointe Hilton Squaw Peak Resort 7677 N. 16th St. Phoenix, AZ 85020 (602) 997-2626 squawpeakhilton.com Phoenix 46 9,760 <48,000 563
Pointe Hilton Tapatio Cliffs Resort 11111 N. 7th St. Phoenix, AZ 85020 (602) 866-7500 tapatiocliffshilton.com Phoenix 36 16,000 65,000 584
Rise Uptown Hotel 400 W. Camelback Rd. Phoenix, AZ 85013 (480) 536-8900 riseuptownhotel.com Phoenix 1 1,000 1,000 79
The Ritz-Carlton – Paradise Valley 7000 E. Lincoln Blvd. Scottsdale, AZ 85253 (602) 922-2900 ritzcarlton.com/en/hotels/arizona/ paradise-valley
Sanctuary Camelback Mountain Resort & Spa 5700 E. McDonald Dr. Paradise Valley, AZ 85253 (480)607-2350 sanctuaryoncamelback.com
Paradise Valley 8 6,500 20,000 215
Resorts (con’t)
Scottsdale Marriott at McDowell Mountains
16770 N. Perimeter Dr. Scottsdale, AZ 85260 (480) 502-3836 marriott.com Scottsdale 24 5,005 14,527 266
The Scottsdale Plaza Resort 7200 N. Scottsdale Rd. Scottsdale, AZ 85253 (480) 948-5000 scottsdaleplaza.com
The Scottsdale Resort at McCormick Ranch
Scottsdale 21 10,080 40,000 404
7700 E. McCormick Pkwy. Scottsdale, AZ 85258 (480) 991-9000 hilton.com Scottsdale 50 10,000 50,000 326
Sheraton Grand at Wild Horse Pass 5594 W. Wild Horse Pass Rd. Chandler, AZ 85226 (602) 225-0100 wildhorsepassresort.com Chandler 30 17,376 180,000 500
Sonesta Suites Scottsdale Gainey Ranch
7300 E. Gainey Suites Dr. Scottsdale, AZ 85258 (480)367-4616 sonesta.com Scottsdale 11 2,925 8,300 162
Talking Stick Resort 9800 E. Indian Bend Rd. Scottsdale, AZ 85256 (480) 850-7777 talkingstickresort.com Scottsdale 22 25,000 113000 496
Tempe Mission Palms, A Destination Hotel 60 E. 5th St. Tempe, AZ 85281 (480) 894-1400 missionpalms.com
W Scottsdale 7277 E. Camelback Rd. Scottsdale, AZ 85251 (480) 970-2100 wscottsdalehotel.com
We-Ko-Pa Resort & Conference Center
Tempe 20 9,384 30,000 303
Scottsdale 8 3,500 14,000 230
10438 N. Fort McDowell Rd. Scottsdale, AZ 85264 (480) 789-5300 wekoparesort.com Scottsdale 15 18,000 25,000
Paradise Valley 11 3,204 8,000 105
The Westin Kierland Resort & Spa 6902 E. Greenway Pkwy. Scottsdale, AZ 85254 (480) 624-1000 kierlandresort.com Scottsdale 41 25,000 200,000+
Venue
Wild Horse Pass Hotel & Casino 5040 Wild Horse Pass Blvd. Chandler, AZ 85226 (520)796-4923 wildhorsepass.com
City
of Meeting Rooms
Arizona Center 400 E. Van Buren St. Phoenix, AZ 85004 (602) 271-4000 arizonacenter.com
Phoenix 2 15,000 (ice rink) 15,700 n/a
9 n/a n/a n/a
1 22,000 22,000
n/a
City # of Meeting Rooms Largest Room Total Meeting Space # of Sleeping Rooms
Castles ‘n’ Coasters
9445 N. Metro Pkwy. E. Phoenix, AZ 85051 (602) 997-7575 castlesncoasters.com Phoenix 2 3,935 5,000 n/a
Chase Field
401 E. Jefferson St. Phoenix, AZ 85004 (480) 339-5000 azchasefield.com Phoenix 21 39,600 100,000+ n/a
Children’s Museum of Phoenix 215 N. 7th St. Phoenix, AZ 85034 (602) 253-0501 childrensmuseumofphoenix.org Phoenix 3 5,000 <14,000 n/a
Arizona Financial Theatre 400 W. Washington St. Phoenix, AZ 85003 (602) 379-2800 livenation.com Phoenix 5 40,000 80,000 n/a
The Croft Downtown Phoenix 22 E. Buchman St. Phoenix, AZ 85004 (602) 462-970 thecroftdowntown.com n/a 2 5,000 8,500 n/a
Cutler-Plotkin Jewish Heritage Center
122 E. Culver St. Phoenix, AZ 85004 (602) 241-7870 azjhs.org Phoenix 2 2,500 5,500 n/a
Desert Botanical Garden 1201 N. Galvin Pkwy. Phoenix, AZ 85008 (480) 941-1225 dbg.org Phoenix 5 4,200 5,000 n/a
How High-Performance Organizations Make Meetings Effective
Once it has “the way” to meet, the organization can experiment. For instance, what happens when we meet on Monday instead of Wednesday? If we tweak the process, can we make decisions faster?
Venue
of Meeting Rooms
14 3,364 13,000
54
Phoenix 9 5,300 <20,000 n/a
Rio Salado Audubon Center
3131 S. Central Ave. Phoenix, AZ 85040 (602) 468-6470 riosalado.audubon.org Phoenix 2 1,920 3,000 n/a
Rise Uptown Hotel 400 W. Camelback Rd. Phoenix, AZ 85013 (480) 536-8900 riseuptownhotel.com Phoenix 1 1,000 1,000 79
The Ritz-Carlton – Paradise Valley
n/a
7000 E. Lincoln Blvd. Scottsdale, AZ 85253 (602) 922-2900 ritzcarlton.com/en/hotels/arizona/ paradise-valley Paradise Valley 8 6,500 20,000 215
Secret Garden 2501 E. Baseline Rd. Phoenix, AZ 85042 (602) 268-5522 secretgardenevents.com Phoenix 4 2,500 3,000 n/a
MonOrchid 214 E. Roosevelt St. Phoenix, AZ 85004 (602) 253-0339 monorchid.com Phoenix 3 4,500 6,000 n/a
Musical Instrument Museum 4725 E. Mayo Blvd. Phoenix, AZ 85050 (480) 478-6000 mim.org Phoenix 6 9,300 30,000 n/a
The Penske Racing Museum 7125 E. Chauncey Ln. Phoenix, AZ 85054 (480) 538-4444 penskeracingmuseum.com Phoenix 2 2,500 5,000 n/a
Phoenix Art Museum 1625 N. Central Ave. Phoenix, AZ 85004 (602) 257-1222 phxart.org Phoenix 5 6,600 8,600 n/a
Phoenix Zoo 455 N. Galvin Pkwy. Phoenix, AZ 85008 (602) 286-3800 phoenixzoo.org Phoenix 16 4,000 4,300 n/a
Rawhide 5700 W. North Loop Rd. Chandler, AZ 85226 (480) 502-5600 rawhide.com Chandler 14 46,000 75,000+ n/a
Stand Up Live 50 W. Jefferson St., Suite 200 Phoenix, AZ 85003 (480) 719-6100 phoenix.standuplive.com Phoenix 2 6,500 9,000 n/a
Turf Paradise 1501 W. Bell Rd. Phoenix, AZ 85023 (602) 942-1101 turfparadise.com Phoenix 3 n/a n/a n/a
University of Arizona College of Medicine 550 E. Van Buren St. Phoenix, AZ 85004 (602) 827-2002 phoenixmed.arizona.edu Phoenix 3 4,600 6,400 n/a
Valley Youth Theatre 525 N. 1st St. Phoenix, AZ 85004 (602) 253-8188 vyt.com Phoenix 1 2,500 2,500 n/a
Venue at the Grove 7010 S. 27th Ave. Phoenix, AZ 85041 (602) 456-0803 venueatthegrove.com Phoenix 1 2,250 2,250 n/a
The Wrigley Mansion
Ament, Ashley, 46
Ayotte, Aaron, 11
Biden, Dr. Jill, 24
Biden, President Joe, 24
Bohard, Tony, 11
Burt, Coach Micheal, 31 Butler, Tyler, 38 Cain, Rosaria, 48
Camacho, Chris, 9, 24
Carr, Mel, 50
Cook, Jordan, 20 Cook, Tim, 24
Darwin, Henry R., 36
DeVary, Jayme, 10
Ducey, Governor Doug, 24 Dunagan, Brian, 22 Dziedzic, Heather, 14 Eskenazi, Jeremy, 66 Frette, Ryan, 34 Hackl, Cathy, 31 Hanke, Stacey, 53
Hodak, Brittany, 31 Jennings, Sarah, 10 Keith, J. Elise, 54 Kelly, Senator Mark, 24 Kern, Merilee, 43
AECOM-Canyon Partners, 15 ANGLES, 45 Apple, 24 Arizona Commerce Authority, 24, 35
Arizona Community Foundation, 5 Arizona Hispanic Chamber of Commerce, 23 Arizona Office of Tourism, 57 Banner|Aetna, 20 Bergy Bag, 14 CBRE, 24 Cloversy, 50
Courtesy Authomotive Group, 68
Delta Dental of Arizona, 12 EmployBridge, 24 Experience Scottsdale, 52
Family Development, 15 Gallagher & Kennedy, 36 Giving Tree Café, 44 Google, 12
Greater Phoenix Economic Council, 9, 24 Harrah’s Ak-Chin Casino, 12 HiBob, 12
Holmes Murphy, 12 HomeSmart, 10 HonorHealth, 3
IdeasCollide, 7 Identity Theft Resource Center, 13 IndiCap, 15 INFINITI, 43 Intel, 24 Jive, 6 JLL, 17 K1 Speed, 59 Kinessage LLC, 39 Kiterocket, 67 Knoodle, 48 KORE Accounting Solutions, 49 KORE Power, 24 Lerner & Rowe, 38 LevRose, 12 LGE Design Build, 16 Lucid Meetings, 53 MereStone, 59 Merrill, 46 Miles Group, The, 30 minder, 43 MTA360, 11
National Association of Women Business Owners – Phoenix, 45 NFP, 20 Partners Personnel, 24
Phoenix Philanthropy Group, The, 42 ProTech Detailing, 39
In each issue of In Business Magazine, we list both companies and indivuduals for quick reference. See the stories for links to more.
Komadina, Paul, 24 Korenzvit, Inna, 49 Kubicki, Ania, 45 Laor, Adam, 14 Liu, Mark, 24 Miles, Stephen, 30 Minkel, Monica M., 12 Mizell, Joanne, 20 Nova, Jeremy, 41 Pechersky, Scott, 15 Perkins, Sheri, 24 Pierce, Brian, 14 Raimondo, Gina, 24
Rosencrans, Annie, 12
Sarzoza, Paul, 24 Sellers, David, 16 Shapiro, David, 10
Shipley, Liz, 24 Times, Tish, 49 Tollefson, Richard, 42 Verdaglio, Chad, 18 Warr, David, 44 Watson, Sandra, 24 Weber, Bruce, 40 Weissman, Cooper, 22
QuickPass, 10 Retrospect, 22 Riviera Advisors, 66 RPM Living, 15 Sawyer Aviation, 18 Sendoso, 24
Shapiro Law Team, 10 Sinatra, 14 Snell & Wilmer, 37 SRP, 19 Stacey Hanke Inc., 53 Stearns Bank, 6 Studio Shed, 41
Taiwan Semiconductor Manufacturing Company, 24
Temperature Control, 11 Tish Times Sales Agency, 49 UnitedHealthcare, 21 Verde Clean, 24 WaFd, 34 Waste Management Phoenix Open, 2 Waymo, 12 Weber Group, 40 WeiDev, 22 Westin Kierland, The, 64 Williams-Sonoma, Inc., 24
Bold listings are advertisers supporting this issue of In Business Magazine
Corporate training cannot fill a gap when employees are not curious — it may result in their retaining even less and, ultimately, it means they’re operating at a status quo. For consultative HR or talent acquisition professionals, ignoring the opportunity to gain more insight to improve their role a is a lost opportunity. Being curious is important because it helps the HR professional:
• Gain credibility;
• Improve ability to assess candidates;
• Create a better candidate experience by better explaining the company’s strategy and how the role adds value;
• Become an expert in the commercial language of the organization and its industry; and
• Build and manage relationships with all key stakeholders: hiring managers, candidates, employees and leaders.
It’s amazing how connecting dots makes the work of HR and recruiting teams so much easier. Knowing what the business does, how it makes money, and what’s happening in that industry is important. So is knowing what hiring managers are looking for – and how to interact with the right candidates. And yet, many recruitment professionals are not doing these things.
The best HR pros have learned that the only way to be successful is to be consciously curious — meaning they are self-motivated to learn more deeply about how their and other businesses work and thrive.
The “process” of recruiting isn’t hard — but it does take capabilities and competencies that are rarely taught. Setting and managing expectations tops the list, but what differentiates good from great recruiters is the skill of conscious curiosity, and it requires focus. Corporate workplaces haven’t evolved to teach this yet; training rarely leaves us feeling more informed or energized. Conscious curiosity is also not a step that can be built into best practice recruiting processes. Nobody will tell a recruiter to be more curious nor can it be measured, so how might someone approach working their curiosity muscle?
Note that there is work in building this skill. These tips may provide some extra help in developing this new cerebral muscle.
reply to the applicant with their thoughts on why they find the applicant’s response interesting or ask for clarifying questions about a particular aspect of the discussion. Most important: The recruiter should thank the applicant for sharing.
• Recruiters should admit they are not “the expert” and should ask the applicant if there is anything else they should have asked to gain more knowledge of a particular area. They should invite the applicant to share info with them, even without specific questions. There is an opportunity to further connect with others when we admit we don’t know something and want their help to learn. Vulnerability is a strength when connecting with others and can often deepen the conversation to a more personal level, which gives the recruiter new insights but is also a very human way to connect and build relationships.
Jeremy Eskenazi, SPHR, SHRM-SCP, CMC, is the founder of Riviera Advisors, a boutique talent acquisition optimization consulting firm. Riviera Advisors does not headhunt; it specializes in recruitment training and strategy consulting, helping global HR leaders transform how they attract top talent. From best practice recruiting, to improving speed to hire, to candidate experience, Riviera Advisors is a go-to place for strategic talent advisors.
rivieraadvisors.com
• Recruiters should do their own research about the business or industry and actually use the answers to inform their next few steps. This can be through industry newsletters or podcasts, following influencers on social media, or even online courses. The point is to go beyond the usual sources for information; even if it’s hard or it seems there’s already an answer — it’s important to keep digging!
• Recruiters should share their intention and take advantage of the discussion by asking questions. When we tell people we’re interested and want to learn, they’re often more willing to share with us. So, it’s important to build on answers they give and ask for their personal perspective on a matter. We all invest more time when people show active listening, feel that their perspectives are valued, and the person asking is actually trying to understand what they are sharing.
• Recruiters should ask questions in a way that demonstrates they care about the answers and demonstrates some comprehension on their end. And they should repeat the response back to the applicant in their own words and ask if that information is correct. Then they should
• It’s important that recruiters show they care! It’s all about human interaction, so recruiters should keep in mind how we feel when someone is interested in us as individuals, what we care about, how we are doing, and what’s new in our world. Those who practice curiosity will seem like more caring people as well. Caring people attract positive energy and make it easier to ask more questions or have people trust them with more information. Recruiting is all about relationships, which are extremely hard to build when people can sense the recruiter doesn’t care and is not interested in what they have to say.
At its most tactical application, conscious curiosity can help recruiters better understand roles in more business units faster, which can make them more versatile. This can also lead to improving their ability to screen candidates, on one hand, and, on the other hand, ask more probing questions to hiring managers to hit the mark on what they are looking for the first time.
Now is the time to take the opportunity to be a cut above and turn on the conscious curiosity engine: Understand how the company makes money, have chats with different departments and probe deeper. Remember, being curious means listening twice as much as speaking. Top recruiters are capable of bringing in top talent because they truly understand, and they care!
What differentiates good from great recruiters is the skill of conscious curiosity — being self-motivated to learn more deeply about how their and other businesses work and thrive.
How a self-motivated desire to learn and ask questions drastically improves recruiting and hiring
by Jeremy Eskenazi
