November 2021 Issue of In Business Magazine

NOV. 2021

Profiles in Excellence: Community Banks & Credit Unions

Technology is driving our economy – where do you fit in?

This Month’s Guest Editor

Eric Miller

Principal and Co-Owner PADT

Housing: Our Ongoing Issue Prepare NOW for the Next Global Crisis Electric Vehicles

Charging Our Economy $7.95 INBUSINESSPHX.COM

THIS ISSUE National Association of Women Business Owners – Phoenix

Arizona: Where innovators turn for what’s next.

2020

TOP 10

GOLD SHOVEL

AWARD WINNER

MOST COMPETITIVE STATE

azcommerce.com

Site Selection Magazine Prosperity Cup, 2021

Bold and exciting advancements are happening in the Grand Canyon state. Cutting-edge companies are launching, testing and scaling new technologies in Arizona.

Our culture of innovation, highly skilled talent, lean regulatory environment, and affordable operating costs provides an ideal platform for business growth and success. The state has announced investment from industry leaders including Intel, TSMC, Zoom Communications, ElectraMeccanica, Amazon, Align Technology and more. Ranked top two for fastest growing state, it’s clear why people are flocking here. Beyond being a place where you can achieve your professional goals, Arizona also provides an unmatched lifestyle that allows you to achieve your personal goals.

It’s this perfect balance that makes life better here.

NOVEMBER 2021 GUEST COLUMNISTS

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Arizona Federal Credit Union in the Community This month spotlighting Arizona Federal Credit Union, Tyler Butler’s series explores the myriad ways businesses give back and the positive ways their programs impact our community.

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A Housing Issue We Can’t Afford to Ignore Debut of a regular column from Don Henninger, who taps into his deep knowledge of our business community to share his perspective in an ongoing Metro feature

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Why Businesses Suffer More in Winter Jen Butler concludes her series on stress’s impact on health and business.

PARTNER SECTION CELEBRATING OVER 30 YEARS OF SERVING THE WOMEN BUSINESS OWNERS OF PHOENIX

Winter 2021 • nawbophx.org

From the President’s Perch …

Rebranding Creates Stress but Totally Worth It in the End

For those of you who have indulged in branding, you know how tough this process is. We just finished a photo shoot that was highly stylized. You will see it on these pages. We all are wearing black with white button-down shirts and red shoes. It represents a shot of unity. And yet, each of us has our own spin on how we put this look together.

We used knoodle. Full disclosure: This is my company. We donated the photo shoot so we could hire a veteran photographer in Paul Markow. Creative Director Ivan Galaz directed the shoot.

Together, we took shot after shot following the path set forth by the vision board. This whole process reminded me of how difficult rebrands are.

Not everyone was able to make it. Some didn’t care for the concept. Some were out of town.

But in the end, the majority of board members turned out and had a great time, pretending to be models. The studio had a look of a Hollywood set, complete with music, fans (so that our hair could blow in the wind) and professional hair and makeup. Mary Reid, the makeup artist, has worked with models and superstars all over the world. And she did make us be our best self — that, and a little photo retouching!

This year, the idea is to be relevant for business women of all types. This includes women who own every size of business, who want a voice locally and nationally, love to meet other women, build contacts, find new friends and have a clear connection to what goes on in Washington, D.C.

Rosaria Cain

Lessons Learned over the Years Regarding Rebrands:

ABOUT NAWBO

• Never do marketing by committee. Leave it to the one person who is responsible, to avoid a homogenized vision of mediocrity.

• Start with a clear vision and strategy by those you most want to reach. It will serve as the foundation for all that you do.

• Brand everything using the positioning that you have chosen, a strong logo and a common color palette.

• Develop the brand with a strong voice that is consistent through every medium.

• Be strong. Throw all materials away with previous logos, branding and all leftovers. Past brands should remain unseen to prevent confusion. This is the hardest for businesses to achieve because we all hate to throw away the things we have spent money on.

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 nawbophx.org and join us!

Take advantage of this great opportunity to connect — we can’t wait to see you there!

For more infomation, visit www.nawbophx.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

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NAWBO NEWS

47 National Association of Women Business Owners

SPECIAL SECTION Excellence in Banking Community Banks & Credit Unions

Meet some of the Valley's top bankers and their financial institutions

FEATURING Arizona Federal Credit Union, Mike Thorell Enterprise Bank & Trust, Jeff Friesen First Western Trust, Trish Stark Metro Phoenix Bank, Amber Welch OneAZ Credit Union, Ken Bauer WaFd Bank, Todd Gerber

53 Excellence in Banking: Community Banks & Credit Unions

NOV. 2021

18 COVER STORY

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Is Every Company a Tech Company?

With technology driving our economy, In Business Magazine explores how every company get on the bus — with input from economic development specialists, technology experts who try to help businesses apply technological advances, and businesses outside the usual parameters of the “technology sector.”

FEATURE

30

It’s Not IF; It’s WHEN

Drs. Mark Goulston and Diana Hendel explore what companies need to be focused on to prepare for the next global crisis.

43

Electric Vehicles Are Hot for Arizona

With showrooms at shopping malls and significant manufacturing facilities, electric vehicles are charging our economy.

NAWBO Phoenix President Rosaria Cain founded knoodle, a public relations and marketing firm, in 1999, with her very first client, Fulton Homes, after 20 years in television, radio and newspaper. Her company is ranked among the top advertising agencies in the Phoenix Metro area and brands clients clients such as Sante’ Health, Cal AM, Red Development, and Prestige Cleaners, She still works with Fulton Homes today.

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“Shared Office Space: New Model for Property Owners,” “Evergreen Devco Breaks Ground on Multifamily in Tolleson,” “Facebook’s New Data Center Project Opens Employment Ops with Rosendin,” “Camelot Homes Launches Innovative Luxury Brand,” “Tempe’s Hayden Station Transformed to Experiential ‘Arbor’” and “Trend Alert: Single Family Living in Multifamily Continues to Increase”

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Measuring Success – How We Know We Have ‘Arrived’ Bruce Weber concludes his series on Change: The Provider of Opportunity.

Startups

“Restless Clothing Aims to Make People Smile” and “Macy Lane Designs for At-Home Spaces”

DEPARTMENTS

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Guest Editor

From the Top

Under Linda Matthews’ leadership, BioCare has seen 1,500% sales growth and celebrates its 40th anniversary.

20

Healthcare

“Secure Vaccination Card Upload on App” and “Elective Healthcare a Key Concern for Hospitals”

22

Technology

“Gig Apps Are Here to Stay” and “FinOps Strategy Integral to Successful Cloud Migration”

31

Books

New releases give fresh insights on business thinking.

32

En Negocios

Feature articles in Spanish and English on Liderazgo / Leadership

34

Economy

Jacob Guttman discusses how small-business owners can maximize their retirement plans — for their employees and themselves.

35

Legal

Attorneys Eric Johnson and Jon Howard discuss what Phoenix’s growth means for business and how legal issues need to keep pace with innovation in business.

44

Nonprofit

Eric Miller, principal and co-owner of Phoenix Analysis & Design Technologies, introduces the “Technology” issue.

Business and nonprofit collaboration is key to an inclusive and opportunity-driven Arizona.

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45

Feedback

Dayna Ciarfalia, Heather Jones and Alana Millstein respond to In Business Magazine’s burning business question of the month.

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Briefs

“Strategic Planning for Growth: Putting the Best Foot Forward,” “Dailies Top Stories,” “Local Standouts Recognized for Achievements and Philanthropy,” “Hospitality Delivers a Better Way to Buy and Sell Cars” and “Wyndham Capital Mortgage: Growth and Disruption”

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By the Numbers

Assets

2022 Genesis GV70 SUV Plus: Worker return engenders new workspace concerns.

46

Power Lunch

Mora Italian: Convivial Dining Destination

66

Roundtable

Bounce Curl founder Merian Odesho builds on her own experience to mentor other women entrepreneurs.

A global study ranks countries on their digital quality of life. Where does the U.S. stand?

Seventy-six percent of workers using computers say they fear their boss monitors their communication, according to a recent study by Elements Global. elementsgs.com/top-hr-complaints-statistics

Doctors Plan of Arizona: Your new health plan experience In collaboration with Banner Health Network, Doctors Plan of Arizona is designed to provide a better health care experience for you and your employees. With lower out-of-pocket costs1 and an integrated approach to care designed for better outcomes, this health plan helps your employees and their families access a broad network with over 4,200 providers2 to choose from — right where they live, work and play.

Learn more

Call your broker or visit uhc.com/dpaz

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Savings based on lower premiums for Doctors Plan compared to standard Choice Plus plans at the same deductible and coinsurance level as of 7/1/2020. This policy has exclusions, limitations and terms under which the policy may be continued in force or discontinued.

For costs and complete details of the coverage, contact your broker or UnitedHealthcare sales representative.

2

UnitedHealth Network Access internal analysis, June 2020.

3

Additional copays, deductibles or coinsurance may apply when you receive other services — such as surgery and lab work.

Insurance coverage provided by or through UnitedHealthcare Insurance Company or its affiliates. Administrative services provided

by United HealthCare Services, Inc. or their affiliates. Health Plan coverage provided by UnitedHealthcare of Arizona, Inc. B2B EI20236739.1 1/21 © 2020 United HealthCare Services, Inc. All Rights Reserved. 20-189173-B

0 copays

$

for primary care provider visits, urgent care visits, online visits and convenience care visits3

Nov. 2021

Hi Phoenix, Let’s spend smarter.

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

PARTNER ORGANIZATIONS Kristen Merrifield, CEO Alliance of Arizona Nonprofits (602) 279-2966 www.arizonanonprofits.org Jess Roman, Chief Executive Officer Arizona Small Business Association Central Office (602) 306-4000 www.asba.com

Learn more at getdivvy.com/phx1

Steven G. Zylstra, President & CEO Arizona Technology Council One Renaissance Square (602) 343-8324 www.aztechcouncil.org Doug Bruhnke, Founder & President Global Chamber® (480) 595-5000 www.globalchamber.org Rosaria Cain, President NAWBO Phoenix Metro Chapter (480) 289-5768 www.nawbophx.org Anne Gill, President & CEO Tempe Chamber of Commerce (480) 967-7891 www.tempechamber.org Our Partner Organizations are vested business organizations focused on building and improving business in the Valley or throughout Arizona. As Partners, each will receive three insert publications each year to showcase all that they are doing for business and businesspeople within our community. We encourage you to join these and other organizations to better your business opportunities.

The members of these and other Associate Partner Organizations receive a subscription to In Business Magazine each month. For more information on becoming an Associate Partner, please contact our publisher at info@inbusinessmag.com.

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

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

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AZBLUE.COM

Nov. 2021

VOL. 12, NO. 11

Publisher Rick McCartney Editor RaeAnne Marsh

En Negocios Editor Edgar Rafael Olivo

Graphic Design Benjamin Little

CONTRIBUTING WRITERS

Simplified banking in a complex world.

Explore BusinessSmart™ accounts.

Jen Butler Mike Hunter

Tyler Butler Macy Hyland

Scott Conant Carla Vargas Jasa Wayne Goshkarian Eric Johnson Mark Goulston Merian Odesha Barry Greenfield Jeff Schelter

Jake Guttman Mary Kay Wagner

Diana Hendel Bruce Weber

Visit StearnsBank.com /Phoenix

Jeff Beck Ryan Hooley R. Chapin Bell Jon Howard-Charles

Don Henninger James Wu ADVERTISING

Member FDIC | Equal Housing Lender

Operations Louise Ferrari

Business Development Louise Ferrari

Cami Shore

Events Amy Corben

More: Visit your one-stop resource for everything business at inbusinessphx.com. For a full monthly calendar of business-related events, please visit our website.

Inform Us: Send press releases and your editorial ideas to editor@inbusinessphx.com

President & CEO Rick McCartney

Editorial Director RaeAnne Marsh

Financial Manager Tom Beyer

Office Manager Allie Schimmel

Accounting Manager Todd Juhl

Corporate Office InMedia Company

45 W. Jefferson Street Phoenix, AZ 85003 T: (480) 588-9505

info@inmediacompany.com

www.inmediacompany.com Vol. 12, No. 11 In Business Magazine is published 12 times per year by InMedia Company. POSTMASTER: Send address changes to InMedia Company, 45 W. Jefferson Street, Phoenix, AZ 85003. To subscribe to In Business Magazine, please send check or money order for one-year subscription of $24.95 to InMedia Company, 45 W. Jefferson Street, Phoenix, AZ 85003 or visit inbusinessphx.com. We appreciate your editorial submissions, news and photos for review by our editorial staff. You may send to editor@ inbusinessmag.com or mail to the address above. All letters sent to In Business Magazine will be treated as unconditionally assigned for publication, copyright purposes and use in any publication, website or brochure. InMedia accepts no responsibility for unsolicited manuscripts, photographs or other artwork.

Submissions will not be returned unless accompanied by a self-addressed, stamped envelope. InMedia Company, LLC reserves the right to refuse certain advertising and is not liable for advertisers’ claims and/or errors. The opinions expressed herein are exclusively those of the writers and do not necessarily reflect the position of InMedia. InMedia Company considers its sources reliable and verifies as much data as possible, although reporting inaccuracies can occur; consequently, readers using this information do so at their own risk.

Each business opportunity and/or investment inherently contains certain risks, and it is suggested that the prospective investors consult their attorney and/or financial professional. ©2021 InMedia Company, LLC. All rights reserved. No part of this magazine may be reproduced or transmitted in any form or by any means without written permission by any means without written permission by the publisher.

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ERIC MILLER, PADT

The World Is Tech

As an industry veteran of 34 years, Eric Miller, has perfected a diverse set of skills that he implements as co-founder and principal of Tempe-based PADT. His role encompasses oversight of simulation and product development consulting, IT, marketing, operations, human resources and administration.

Miller is not only a successful businessman and engineer, but also a mentor to startups and small businesses. He often speaks on the use of simulation to drive product development, as well as the effective application of 3D printing.

Technology is so much a part of our lives that we take most of it for granted. We notice it only when there’s a quantum leap in innovation that disrupts our standard way of doing things, our processes at work and our habits at home.

Arizona’s technology ecosystem, like that in many other states across the nation, is thriving due to the critical role it’s played in our recovery from the pandemic. In the wake of lockdowns and the worldwide move to a virtual workspace, businesses in every industry turned to a variety of technologies to remain productive and connected. The question now becomes, how do these organizations take advantage of this digital transformation?

And, how is technology changing the way an organization engages with customers and employees in this new reality?

The cover story in this November edition of In Business Magazine asks if every business is a technology business — and supports its answer with input from business development professionals, contributors like me who try to help businesses apply technological advances, and businesses outside the usual parameters of the “technology sector.” It’s a great reminder of the growth potential technology affords not only to our overall economy but to individual businesses.

Disruption is the issue underlying the feature “It’s Not IF; It’s WHEN.” Doctors Marc Goulston and Diana Hendel discuss the human impact of crises, the critical difference between stress and trauma, and what employers can do to prepare for the next global crisis.

Another ongoing concern for employers is retirement planning. As the Economy feature, Jacob Guttman offers tips on how employers can maximize their retirement plans for both the employees and themselves.

Coming in as a regular guest columnist, Don Henninger taps into his deep knowledge of our business community to share his perspective in an ongoing Metro feature. This month, he explores the issue of adequate housing for our exploding population and varied workforce.

This November edition has the usual range of business-relevant content, from healthcare and technology to new startups expanding our business community, a subject I have a lot of passion around. There is also a special section that showcases some of the Valley’s top bankers and their financial institutions.

It’s exciting to help bring you this November edition of In Business Magazine, and I hope you enjoy reading it.

Sincerely,

EN NEGOCIOS Manténgase informado sobre temas empresariales en español a través de En Negocios, artículos para los lectores de habla hispana en el área metropolitana de Phoenix.

Visite inbusinessphx.com/ ennegocios para más información.

Stay informed on business topics in Spanish through En Negocios, articles for Spanish-speaking readers in the Phoenix metropolitan area. Visit inbusinessphx.com/ ennegocios for more information.

Eric Miller Principal and Co-Owner Phoenix Analysis & Design Technologies (PADT)

CONNECT WITH US: Story Ideas/PR: editor@ inbusinessphx.com

Tech Matters Like never before, all companies are seeing the value of

this issue on technology and the

technology. Initially, we, as company owners, heard that all

connection to business and our

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economic future. Businesses

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of all types participated in this

great tech success stories that clarified the importance, but

month’s cover story to demonstrate the power of tech and

perhaps the pandemic itself has caused companies to be open to

its implementation. As technology surely advances, so is the

technology as their every-solution.

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

companies are tech companies.

Business Events/ Connections: businessevents@ inbusinessphx.com

—Rick McCartney, Publisher

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

Marketing/Exposure: advertise@ inbusinessphx.com Visit us online at www.inbusinessphx.com

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SPEAKING OUT

How have you used technology to revolutionize your business?

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

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

NOV. 2021

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DAYNA CIARFALIA

HEATHER JONES

ALANA MILLSTEIN

Principal Dayna Ciarfalia, LLC Sector: Business Coaching

Director of Marketing & Communications Take Charge America Sector: Nonprofit

Co-Founder and President Henri Sector: Commercial Real Estate

In 2019, I began using Instagram more intentionally to share with mamas on topics such as respectful parenting, healing childhood wounds and honest motherhood topics. As Instagram has released more unique (and free!) features such as IGTV and Reels, I’ve tried them out and have found success in growing out my account (and, simultaneously, my coaching business) simply through creating content that helps people.

The fact that I can spend five minutes sharing my passions and knowledge, and it can reach thousands of people in days, is amazing! There truly has never been a better time to be in the coaching and service industry. In addition to Instagram, the growth and ease of use of online course creation platforms as well as podcasting has also been transformational to my business.

Options to easily and quickly deliver relevant, helpful content on just about any specialty area are more accessible than ever, and monetizing the service has been game-changing.

For more than 30 years, Take Charge America has helped millions of people manage and pay off their debts. Throughout the decades, we’ve utilized different technologies and communication preferences to meet consumer needs and arm them more quickly with the resources and tools they need to change their financial lives.

Traditionally, credit counseling occurs over the phone. In the all-things-ondemand world, we knew we had to transition this service to an online portal, especially for younger generations accustomed to doing everything over their mobile phones or computers.

This sounds simple on the surface, but credit counseling is highly regulated and it’s critical to preserve our educational efforts along the way. There are no out-of-the-box solutions for credit counseling agencies, so we developed one of the industry’s most intuitive online credit counseling processes ourselves. It uses algorithms based on someone’s income, debt, expenses and assets to deliver customized debt repayment options, a tailored budget, credit report summary and free educational resources. Our online process is easy and convenient. And unlike a phone call, people can save their progress and access their account 24/7.

Upon launching, we immediately experienced an uptick in business, especially among younger consumers.

At Henri, the most beneficial use of technology has been leveraging cloudbased accounting software and payroll software. We are able to automatically pay employees and vendors via direct deposit, which saves us hours of accounting management time and ensures team members receive payments on the same date and time every month. What would have been a two-person job has been reduced to a simple technology and eliminates room for error. Everything from tax documents to benefits information is at their fingertips in the cloud.

Additionally, when we first launched Henri, we worked out of our Scottsdale headquarters, but quickly realized our team increased efficiency when given the option to work remotely. We use Slack to communicate, which has enabled company engagement, increased productivity and given us the option to hire talent regardless of zip code.

These technologies not only position us for success in the day-to-day, but our team was fully prepared when the COVID lockdown started. We had no delays in communication, workplace happiness was still at a high, and our clients were always taken care of.

Dayna Ciarfalia, LLC daynaciarfalia.com Dayna Ciarfalia is a transformational coach who helps mamas cultivate deeper relationships with their children through breaking unhealthy patterns of behavior and supporting them in parenting more consciously. Ciarfalia has a deep background in psychology, communication and coaching within the realms of personal development; career coaching; and conscious, respectful parenting. She offers her coaching services via one on one and group offerings and soon-tolaunch retreats in the Phoenix area.

Take Charge America takechargeamerica.org Heather Jones is director of marketing and communications with Take Charge America, a nonprofit credit counseling and debt management agency. Headquartered in Phoenix, TCA helps individuals nationwide overcome their debt and create a secure financial future.

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

Henri HenriHome.com Alana Millstein is co-founder and president of Henri, the choice community experience software for property management teams and residents alike, with a mobile app that offers in-house payment processing, property analytics, direct messaging and custom satisfaction surveys. The tech-savvy Arizona State University graduate identified the need for innovative, social-based software in the multifamily housing industry and created Henri to fill the void.

QUICK AND TO THE POINT

DAILIES TOP STORIES

‘In Business Dailies’ Most Views Last 30 Days Here are the stories with the most views over the past 30 days (prior to press time) that were features in our In Business Dailies. The In Business Dailies hit email inboxes twice each weekday — at 9:30 a.m. and updated at 4:30 p.m.

Sign up today at www.inbusinessphx.com/dailies-signup Growth & Enterprise | inbusinessphx.com | October 18 2021

$775 Million Transaction with Moon Valley Nurseries Announced inbusinessPHX.com Stonecourt Capital LP, a private investment firm focused on providing financial and strategic resources to

Strategic Planning for Growth: Putting the Best Foot Forward Just as 2020 delivered a host of pandemicrelated unknowns and hesitancy in planning far into the future, 2021 has proven to be ripe with new opportunities for expansion.

Fueled by the Valley’s exponential residential and business influx, growth opportunities for companies previously in a “wait-and-see” holding pattern are more eager to deploy their liquidity to support expansion or strategic acquisitions.

This environment is the impetus to seek vertical-integration opportunities to better control costs and/or the supply chain, expand offerings to offset reduction in business and, most importantly, revisit multi-year strategic plans.

As experts in helping businesses grow, commercial bankers are often asked how companies can prepare to get to the next level.

The answer includes: Gathering knowledgeable resources.

The best strategies are developed with input from a wide range of knowledgeable sources who can be tapped for insights and real-world experiences. If one doesn’t already exist, business leaders should consider forming an advisory board to give key executives critical access to experts who can offer their advice, and even caution, on navigating growth opportunities and challenges.

Planning for the potential impact of growth. Planning ahead means understanding the impact that growth may have on various facets of the company. For instance, asking questions about whether a company’s

infrastructure will have the capacity to absorb new business, determining if/when to hire, evaluating if additional equipment will be needed, gauging inventory needs, assessing IT and cybersecurity and other questions will help mitigate unexpected results of growth or expansion.

Evaluating sustainability of plans. Large goals are drivers for great things. But setting mileposts along the way to evaluate whether the company is on track is critical. While growth typically translates into profits, business owners need to focus on how it will impact cash flow in the near future. Understanding and forecasting how quickly inventory, receivables and payables turn is imperative to ensuring the company’s cash flow and liquidity is sufficient to meet their ongoing operating needs.

Companies can quickly grow themselves out of liquidity if they are not adequately modeling this for their expansion.

Invariably, knowledge is power. Ensuring a sound growth-planning strategy means being surrounded with the best knowledge base possible — from management and key vendors to accounting, legal and financial partners — who deliver different perspectives to head off potential pitfalls on the path for successful growth.

—Jeff Schelter, managing director of Commercial Banking at Alliance Bank of Arizona (alliancebankofarizona.com), where he provides financial expertise to businesses across the state as they plan for growth and future success

facilitate transformational growth, today announced a $775 million transaction with Arizona-based Moon Valley Nurseries, a family-owned, vertically integrated large tree and shrub nursery founded in the Moon Valley neighborhood of Phoenix, Ariz.

Growth & Enterprise | inbusinessphx.com | October 4 2021

Basha’s Acquired: Meet Their New Owner inbusinessPHX.com Bashas’ Family of Stores announced today that it has signed a definitive agreement to be acquired by Raley’s Holding Company, an independent regional grocer based in California. The agreement brings together two leading grocers with rich legacies and shared values: employee achievement, exceptional customer service, and a deep commitment to local communities.

Commercial Real Estate & Development | inbusinessphx.com | October 19 2021

The Howard Hughes Corporation and Jerry Colangelo Announce Launch of 37,000-Acre MasterPlanned Community in Phoenix’s West Valley

Residential Lot Sales to Begin in First Half of 2022 at Douglas Ranch inbusinessPHX.com The Howard Hughes Corporation and Jerry Colangelo today announced the launch of Douglas Ranch, a new large-scale master-planned community (MPC) in Phoenix’s West Valley. Encompassing nearly 37,000 acres in the nation’s fastest-growing metro region, Douglas Ranch is anticipated to become one of the leading MPCs in the country, with 100,000 homes, 300,000 residents and 55 million square feet of commercial development.

The Better Business Bureau Serving the Pacific Southwest points out that the COVID-19 pandemic has caused microchip shortages and supply chain issues, which may be felt even more strongly now, as we head into the 2021 holiday season. bbbcommunity.org

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Local Standouts Recognized for Achievements and Philanthropy ACHIEVEMENTS

Shea Homes’ Ken Peterson Wins 2021 TecHome Builder Award Homebuilding industry leader Shea Homes was recently honored at the inaugural 2021 TecHome Builder awards presented by AE Ventures. Ken Peterson, VP of sales and marketing for Shea Homes Arizona division, received the esteemed TecHome Builder Arc of Achievement award for his outstanding efforts and positive impact on the industry.

The awards recognize individuals and companies that have driven extraordinary progress in the rate and scale of adoption of technology in new homes and the application of tech to homebuilder businesses. sheahomes.com

Local Private Equity Firm Named to Inc. Top Investors List Montage Partners, a Scottsdale-based private equity firm, has been named to Inc. Magazine’s prestigious list of Founder-Friendly Investors. Only 146 private equity and venture capital firms across the U.S. were awarded this honor, which recognizes firms that entrepreneurs can trust and collaborate with while receiving the financial support they need to accelerate growth. montagepartners.com

Justin Bayless Recognized on Top 25 Emerging Leaders List Justin Bayless, CEO of Phoenix-based Bayless Integrated Healthcare, is among Modern Healthcare’s 2021 class of Top 25 Emerging Leaders. Modern Healthcare, the leader in healthcare business news, research and data, annually honors emerging leaders all age 40 or under, who have made significant contributions in the areas of innovation and financial, operational and clinical excellence early in their careers. modernhealthcare.com/top-emergingleaders

PHILANTHROPY

Phoenix Suns Charities Awards Grant to Local Girl Scout Council Girl Scouts–Arizona Cactus-Pine Council was named as a Devin Booker Starting Five recipient as the Phoenix Suns Charities recently awarded it a $100,000 grant, alongside four other Valley nonprofits. The surprise grant was presented to 60 Girl Scouts and Council staff members while they were attending the WNBA finals game at Footprint Center in downtown Phoenix. The funds will be used to replace a mini-bus, vandalized and stolen, needed to transports the girls to and from educational and characterbuilding activities and experiences. girlscoutsaz.org nba.com/suns/charities/home

NOV. 2021

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Hospitality Delivers a Better Way to Buy and Sell Cars Finding a better way is what we do at Vroom. It’s in our DNA. The team behind our national automotive e-commerce company is always looking at better ways to do things on the journey to making buying and selling cars more accessible for all.

Over the past year, 2020 to 2021, we’ve seen Phoenix residents embrace this disruption. Local-area purchases of vehicles through Vroom’s e-commerce platform climbed 56% and, similarly, the number of cars we bought from Phoenix residents increased by 95% over the same time.

At the heart of our unique Last Mile service that we’ve launched in Tolleson, and key to our ability to create a truly different experience for customers, is the hassle-free delivery and pick-up of vehicles directly from driveways, courtesy of our drivers. With an emphasis on customer service, Vroom is taking a unique approach by recruiting employees with hospitality and client service experience for our local Last Mile hub.

In our eyes, delivering this type of unique customer service to 4.8 million local residents within a 70-mile radius starts with how we treat our drivers. At Vroom, we believe everyone in the company should have a voice. Our drivers are just as valuable as our lawyers, accountants, data scientists and

customer service colleagues and, as a result, our commitment to disrupting the industry extends to them, too.

We prioritize culture and safety with our drivers. We have created an environment that is inclusive and puts safety and emotional well-being at the forefront. We ensure they get home daily to see families and loved ones and have the benefits of healthcare and brandnew trucks and trailers. We are committed to enabling our drivers to live the lives they love.

The drivers who deliver and pick up cars for us are at the heart of our business, which is exactly why we are creating new opportunities for customer service-oriented operators and experienced drivers with commercial driver licenses (CDLs) at our hubs throughout the U.S. —Mary Kay Wegner is chief logistics officer at Vroom (vroom.com), a leading ecommerce platform for buying and selling used vehicles

Wyndham Capital Mortgage: Growth and Disruption Charlotte-based Wyndham Capital Mortgage, a leading fintech mortgage lender, recently opened a new sales center in Phoenix. Located in the Biltmore Financial District, the Phoenix location has been ramping up since January 2021. The new center will serve as one of Wyndham Capital’s West Coast headquarters, where the company plans to triple its current staff size with Valley-based experienced mortgage consultants this year.

“Wyndham Capital selected Phoenix because it’s a powerful lending hub, home to top talent we aim to attract, and because Arizona is a great state for growing businesses,” says Christian Olin, director of sales for Phoenix.

With the rise of the Fintech mortgage lender concept during the pandemic,

Wyndham Capital built an entirely new model to set its loan officers up for success and to enhance the home purchasing and selling experience during heavy demand. With an investment in augmented intelligence, the company empowers its mortgage consultants with dedicated speed teams, robots that aid human intelligence with operational excellence, and an all-inclusive data-driven marketing program that drives more consistent, higher-quality leads at the right time. In fact, in 2020, the company automated nearly two million menial tasks, freeing up time for its employees to focus on the borrower.

—Mike Hunter Wyndham Capital Mortgage wyndhamcapital.com

Over the past year, thousands of people have decided to pack up their belongings and move to the State of Arizona. As it turns out, as Pro Mover Reviews found, people are flocking to smaller cities the most over large cities like Phoenix or Tucson: Top five Arizona cities with the highest population growth are Queen Creek (+125.8%), Marana (+48.5%), Goodyear (+46.0%), San Luis (+38.2%) and Sahuarita (+35.1%). promoverreviews.com/moving-resources/fastest-growing-cities-in-arizona-2021/

Photo courtesy of Vroom

LOOKING GOOD

METRICS & MEASUREMENTS

Ranking our Digital Quality of Life

The global digital well-being study shows that the U.S. has climbed 17 places since last year and has surpassed Canada

by Mike Hunter

The third annual edition of the Digital Quality of Life Index (DQL) ranks the U.S. fifth among 110 countries. Covering 90% of the global population, the DQL study is conducted by the cybersecurity company Surfshark and evaluates countries based on a set of five fundamental digital wellbeing pillars: internet affordability and quality, e-infrastructure, e-security, and e-government.

The U.S. excels in internet quality (5th), e-infrastructure (5th) and e-government (1st), but displays comparatively lower results in internet affordability (21st) and e-security (16th).

Overall, the U.S. has demonstrated one of the most significant improvements compared to DQL 2020, rising from 22nd place to fifth and surpassing Canada in all five main pillars. DQL for the United States in general is around 40% better than the global average.

Despite making the top five, the U.S. has room for improvement in specific areas. Even though the country takes first place in broadband internet stability, its speeds (YoY) are improving slowly compared to the rest of the world.

The study found that Americans have to work 1 hour 28 minutes per month to buy the cheapest broadband internet, 36 minutes more compared to 2020. However, the cheapest 1GB of mobile internet became more affordable — it can be bought for three minutes of work per month, half the time it took in 2020. People in China still work two times less than Americans to afford broadband internet, while Australians work a striking 11 times less for 1GB of mobile data.

“Digital opportunities have proved to be more important than ever during the COVID-19 crisis, stressing the importance for every country to ensure fully remote operational capacities for their economies,” explains Vytautas Kaziukonis, CEO of Surfshark. “That is why, for the third year in a row, we continue • According to the DQL Index 2021, the U.S.

the Digital Quality of Life research, which provides a robust global outlook into how countries excel digitally. The index sets the basis for meaningful discussions about how digital advancement impacts a country’s prosperity and where improvements can be made.”

In an all-around picture, six out of 10 countries holding the highest scores are located in Europe, following last year’s trend. Denmark ranks first in DQL for the second year in a row and is closely followed by South Korea. Finland ranks third, while Israel and the U.S. round out the top five of 110 nations that were evaluated. The bottom five countries are Ethiopia, Cambodia, Cameroon, Guatemala and Angola.

Regionally, the U.S. stands out as a country with the highest digital quality of life in the Americas, while South Korea takes the leading position in Asia. Among countries in Africa, people in South Africa enjoy the highest quality of their digital lives whereas Australia leads in Oceania, outperforming New Zealand in various digital areas.

One of the report’s more significant findings is that investing in electronic infrastructure and electronic government contributes most to people’s digital wellbeing. The final 2021 Digital Quality of Life report and an interactive country comparison tool can be found at surfshark.com/dql2021 .

have to work 1 hour 28 minutes per month • The U.S. e-infrastructure is one of the

ranks 5th in the world. Compared to last

to buy the cheapest broadband internet,

best on the planet. Its index is around

year, the U.S. climbed 17 places in the

36 minutes more compared to 2020.

40% higher than the global average and

DQL ranking.

ranks 5th in the world.

• However, the cheapest 1GB of mobile

• Broadband speed in the United States

internet became more affordable this year. • The U.S. ranks 16th in e-security. It

of America is 166.378 Mbps. Since the

It can be bought for 3 minutes of work per

surpasses Switzerland, China and UK but

beginning of the COVID-19 pandemic, it

month, half the time it took in 2020.

stays behind Singapore, Germany, and

has improved by 44%.

Netherlands.

• The U.S. excels in e-government (ranking

• The U.S. lacks internet affordability and

1st) and has very high A.I. readiness in its

ranks 21st in this pillar. People in America

• Compared to Canada and Australia, the

public service delivery.

Internet

U.S. ranks higher in all five DQL pillars: Electronic

Electronic

Electronic

DQL

Affordability

Internet Quality

Infrastructure (rank/index)

Security

(rank/index)

Government

United States

5th/0.7360

21st/0.0223

5th/0.1457

5th/0.1910

16th/0.1824

1st/0.1927

Australia

17th/0.6835

23rd/0.0215

7th/0.1441

22nd/0.1749

36th/0.1622

9th/0.1808

Canada

20th/0.6635

32nd/0.0190

24th/0.1255

16th/0.1804

27th/0.1689

18th/0.1697

Country

(rank/index)

(rank/index)

(rank/index)

(rank/index)

METHODOLOGY The 2021 DQL research examined a total population of more than 6.9 billion people in terms of five core pillars and 14 underpinning indicators that provide a comprehensive measure.

The study is based on opensource information provided by the United Nations, the World Bank, Freedom House, the International Communications Union, and other sources.

Surfshark, a Gold winner at 2021 Cybersecurity Excellence awards as a Most Innovative Security Service of the Year, is a privacy protection toolset developed to provide its users with the ability to control their online presence seamlessly. The core premise of Surfshark is to humanize online privacy protection and develop tools that protect users’ privacy beyond the realm of a virtual private network. Surfshark is one of very few VPNs that have been audited by independent security experts. surfshark.com

Source: 2021 Digital Quality of Life, surfshark.com/dql2021

Broadband is globally less affordable this year. Comparing countries included in both DQL20 and DQL21, people have to work 11% more (25 minutes more) to afford broadband internet in 2021.

However, people have to work 29% less (28 minutes less) to afford mobile internet this year.

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BY RAEANNE MARSH

ENTREPRENEURS & INNOVATORS

Restless Clothing Aims to Make People Smile Restless Clothing owner and founder Jeffrey Smallwood describes his line as “lifestyle apparel meant to inspire the inner entrepreneurs of every individual.”

His inspiration, he says, “comes from my daughter Nala and girlfriend Cheryl to help support our family and finish paying off school loans.” Noting that every entrepreneur has “Restless” late nights when they are up 3 a.m. thinking of ways to make their business better, he says, “As the company grows, my dream is to give my daughter 50% ownership. We want to inspire others in the same circumstances that they can achieve what they set their minds on!”

Throughout his worldly travels, Smallwood began to notice how people are caught up in their own worlds and don’t necessarily connect with one another as they go about their day. But a slogan on a T-shirt or an eye-catching

logo, such as his own featuring a smile with X’s for eyes, can stop people in their tracks and serve as a conversation starter. With his brand, he wants to bring a smile to people’s faces. He also created the brand as a legacy to pass down to his daughter while she’s young — and become something she can continue to build as she gets older.

In founding his company earlier this year — during the pandemic — Smallwood has followed advice he was given to be himself, not be afraid to share his bubbling energy, and not be fake. “People will gravitate towards me because of my personality,” he says. He anticipates his biggest challenge to be ROI on cost of marketing and buying ads on social media platforms. “However, I believe my story and authenticity will

be felt and reach people in an organic manner.”

Restless Clothing restless-brand.myshopify.com

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IN BUSINESS

Profiles in Excelle nce: Community

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Macy Lane Designs is an interior design firm that creates spaces that make people feel happy, comfortable and at home. “Our design philosophy is based on real-life living, and we work with homeowners to develop an aesthetic that is not only beautiful but also very functional for how they live,” says Jackie Wright, owner and lead designer.

“I have always been passionate about interior design, but since I did not have a degree in the field, I never thought I could become a designer,” she says. Then came the pandemic and a business slowdown for her marketing and PR firm. She took the time that situation offered to do some formal training in interior design. “After taking several online classes, I was hooked and made the decision to open my own design firm. So many homeowners are now spending a ton of time at home and need assistance with creating spaces they love and can live and work in — which means there is plenty of opportunity for a business like Macy Lane to make an impact.”

One of the biggest challenges of opening during the pandemic – which she says she shared with the entire design industry – was being able to procure items on time and on budget.

Making this move, Wright says she took to heart the advice one of her business coaches gave her when she began preparing for this career move: “Just jump in!” Says Wright, “I always had the mindset that I needed years of design

experience before I could go out on my own. Having owned another business for 13 years, I knew a lot of the fundamentals of running a successful company — I just had to pivot and apply those skills to a new profession.”

Wright says she is glad she followed her passion and did it. “While the pandemic has been a very difficult time for everyone, for me it was a time of reflection. 2020 taught me that life is too short to not be incredibly happy with your profession. With a little bit of grit and a lot of hard work, anything is possible.”

Macy Lane Designs macylanedesigns.com

The “Labor Shortage Impact Across America” study recently released by Career Cloud ranked Arizona the eighth least impacted

by America’s labor shortage crisis. As of Oct. 12, there are 10.4 million unfilled jobs nationally. With 8.3 million unemployed Americans, there are enough jobs for everyone with 2.1 million jobs left over. careercloud.com/news/labor-shortage

Photos courtesty Restless Clothing (top), Sarah Hoag Photography (bottom)

Macy Lane Designs for At-Home Spaces

PROPERTY, GROWTH AND LOCATION

Shared Office Space: New Model for Property Owners

Photo courtesy Evergreen Devco

A new risk-free shared office space model offers property owners the ability to achieve desired gross square foot rents in four to five months — with no tenant improvements necessary.

It’s a management model that is different from co-working.

Prior to COVID, commercial property owners were riding a high-occupancy trend that had been growing since the 2008 recession. Amid this trend was a tenant movement toward more shared leasing options and terms, begun in the 1980s by Regus. The past decade brought WeWork, Industrious and hundreds of smaller local companies signing master leases requiring significant tenant improvement costs in an effort to grow the “coworking” segment of shared space.

All focused on the top of the pyramid, spending large sums of money trying to reign in high-profile enterprise customers to fill five-star office accommodations.

Very few companies have prospered, and many — including WeWork, Knotel and Serendipity Labs — filed bankruptcy. Funded by venture capital, these companies spent considerable sums on high-cost leases and amenities. Unfortunately, property owners took most of the risk when engaging with the co-working model, paying for TI assuming the full leases would be paid out.

While there have been issues with the concept of arbitraging office space using the multiple-tenant-in-one-space model, the demand for shared/executive office space remains strong and is showing significant signs of growth.

However, as CRE enters year two of dealing with COVID, property owners are seeing unprecedented numbers of vacancies and sublets coming to market. Add new construction currently under development and the total square footage available is creating downward pricing pressure on rents. While opinions of how hybrid and remote work will impact the full return of fall office workers vary widely, there is certainty around the continued growth of shared office space.

Multiple underlying trends are contributing to the significant growth in demand for shared office space. In addition to the rise of the gig economy and advances in technology are these important changes in the business landscape: • Open-concept spaces are facing headwinds. For co-working businesses, this presents a real challenge as profits tend to be driven by selling multiple-seat memberships in open areas.

• With online platforms a critical means of marketing and advertising a physical presence for small businesses, the majority of companies see the benefits of having an actual office at the address in order to hold meetings when necessary.

• Remote employees brought increased productivity and significant cost savings during COVID. With a management model like ours, office property owners can easily add shared office space/executive suites to a CRE portfolio. The property owner provides the space and LocalWorks.us handles all other aspects of the operation, including marketing, amenities, management of membership, payment collection and reporting.

Typically, the company can fill vacant “officed” space within four to five months and through the revenue share program generate 90–100% of the desired gross rate.

LocalWorks.us currently operates locations ranging in size from 5,000 to 12,000 square feet.

Renting individual offices and managing the users in the space is a time-consuming and expensive process. Finding the renters requires an expertise completely different from finding a master lease tenant. Our model uses more than 40 different online methods to develop leads and attract new renters, including data mining. There is not a lot of churn; the small businesses and people who rent offices tend to stay in their spaces an average of 18– 24 months.

—Barry Greenfield, founder of LocalWorks (localworks.us), a fast-growing shared office space provider that partners with property owners and sublessors to act as the in-house agency for filling vacant office space with individuals and small businesses

GET REAL

by RaeAnne Marsh

Evergreen Devco Breaks Ground on Multifamily in Tolleson Evergreen Devco, Inc., a leading retail and multifamily development company, recently broke ground for the development of a 258-unit, multifamily community located at 89th Ave. and McDowell Rd. in Tolleson. The 9.48-acre project, located at 8827 W. McDowell Rd., will add a residential component to the larger Plaza 91 mixed-use development, which currently consists of a Fairfield Inn and retail shops. Designer for the project is BMA Architects LLC. The The leasing office will open in December 2022. evgre.com

Facebook’s New Data Center Project Opens Employment Ops with Rosendin Construction on Facebook’s Mesa Data Center has begun in Mesa’s Elliot Road Tech Corridor. The project aims to serve as a model of energy efficiency and will be supported by 100% renewable energy from new solar energy plants, apply for LEED Gold certification, and receive credits for water restoration efforts. Rosendin, the nation’s largest employee-owned electrical contracting company with a regional office in Tempe, has been selected as the electrical contractor for the project and expects to hire 500 people, including skilled electrical workers, prefabrication warehouse staff, BIM (computer modelers), estimators, project managers and office staff. rosendin.com

Camelot Homes Launches Innovative Luxury Brand Camelot Homes has launched a new introductory luxury brand: G3 by Camelot Homes. Led by 37-year-old, third-generation homebuilder Trent Hancock, the aptly named brand will focus on homes that offer a first step up to luxury. The first project to be built under the G3 name is Paradigm, a 12-lot gated community coming to North 18th Street and East Winchcomb Drive in North Phoenix in 2022.

A collaboration between G3 and Circle Road Companies, Paradigm will feature one and two-story contemporary designs by the local award-winning architecture firm The Ranch Mine.

Two spec homes will break ground this month, and the targeted delivery for the first homes is July 2022. Local residential real estate brokerage The Brokery is handling all sales for Paradigm. camelothomes.com/community/paradigm

The Phoenix office market posted more than 604,000 square feet of positive office space absorption during Q3 2021, according to the new JLL Phoenix Office Insight Report, but a single 721,000-square-foot move-out by Chase Bank negated the gain. us.jll.com/en/trends-and-insights/research/office-market-statistics-trends/phoenix

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PROPERTY, GROWTH AND LOCATION

Tempe’s Hayden Station Transformed to Experiential ‘Arbor’ while also giving them the perfect canvas for safe on-site team collaboration in exceptional meeting and workspaces.”

Arbor is located at 310 S. Mill Ave., on the southwest corner of Mill Avenue and Third Street.

The project was originally delivered to the market in 1986 as Hayden Station. Upon completion, Arbor will total 124,189 square feet with four two-story, mixed-use office-and-retail buildings and a five-story office building with premier shared amenities.

Renovations at Arbor begin in Q4 2021 and will complete during Q3 2022, with negotiations already underway for tenants looking to occupy office suites at Arbor as early as February 2022.

—Mike Hunter Arbor arbortempe.com

Phoenix-based developer George Oliver has unveiled its redevelopment plans for the landmark Hayden Station mixed-use property in downtown Tempe, Arizona. Renamed as Arbor and planned with an abundance of foliage, the $41-million experiential office project will include an $18-million renovation that will transform the five-building campus into a one-of-a-kind office and retail destination, located within one of the nation’s most sought-after office markets.

Under a design theme of “Urban Organic,” Arbor will balance a natural material palette and indoor-outdoor environments with an experience-driven amenity package that

pays homage to its premier urban location.

The approach will place a heavy emphasis on vegetation, add patios and convert courtyards into semi-private park settings with outdoor collaborative and break-out spaces.

“We are excited to launch this one-of-a-kind product in downtown Tempe and even more excited for what it will bring to the market — high-touch design mixed with an unmatched amenity base that is exactly what users are asking for as they reoccupy their office spaces,” says George Oliver founder and managing partner Curt Kremer. “Arbor will deliver all of the comforts people have grown to love in their home office

George Oliver LLC georgeoliver.com

Trend Alert: Single-Family Living in Multifamily Continues to Increase

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The combination of Phoenix being an attractive market and the rise of the build-to-rent trend has caused local developers, like P.B. Bell, to invest in new properties that offer this lifestyle. Additionally, offering residents the exclusivity and feel of “their own home” along with the benefits of living in a professionally managed multifamily community allows developers to naturally diversify their portfolios.

While the housing market continues to stay competitive, build-to-rent communities give multifamily developers the ability to fill the gap and target the demographic who wishes to seek homeownership but simply cannot yet.

As the rental market for residential neighborhoods continues to stay scarce, the multifamily industry has a huge opportunity to capitalize.

—R. Chapin Bell, CEO of P.B. Bell (pbbell.com), which specializes in the development and management of multifamily housing communities in Arizona

In build-to-rent communities, residents still enjoy the community feels that traditional multifamily properties offer, such as taking advantage of amenities, on-site maintenance, upgraded technology within the units and more — many of which perks are not found in residential real estate and homeownership.

Photos courtesy of Arbor

As multifamily industry trends continue to evolve, developers must stay in the know to understand what consumers are looking for. Today, the industry is seeing an increase in build-to-rent properties, also known as single-units or horizontal units. This option provides residents the traditional multifamily benefits, but also the privacy residential neighborhoods offer. Experts say this lifestyle was common prior to the pandemic but the pandemic has aided in increasing the popularity of the product type. People want more space and still enjoy community, but several other factors play an effect.

RealPage, a leading provider of software and data analytics to the real estate industry, recently reported that Phoenix-based apartments increased 1.6% in occupancy within the last year, putting the Valley at 97.3% when the national average is 96.9%. While Phoenix sits as the fourth largest and fastest-growing city for multifamily construction projects, the Valley continues to be an attractive area for developers.

MINDING THEIR BUSINESS

Linda Matthews Leads BioCare to 1,500% Sales Growth The specialty distributor of life-saving therapies going strong as it celebrates its 40th anniversary

by Jeff Beck

An Emory University alumna, Linda Matthews recalls that she wasn’t initially accepted into the university. While she had her heart set on attending Emory’s business program, she was surprised to see her application had been declined. Her tenaciousness came through when she called the dean of Admissions directly about her acceptance letter, stating that it certainly must have been a mistake. It was this determination that granted her an interview and, inevitably, a spot in the university’s upcoming class.

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When Linda Matthews joined BioCare, Inc., a leading national specialty distributor of life-saving therapies, in 2001, the Tempe-based company was a $17-million organization, struggling to grow. A determined leader, Matthews made it her mission to see BioCare succeed, and in her first year the company changed course and became profitable. Today, with Matthews as BioCare’s president, the organization has grown its sales by more than 1,500% and is competing with multibillion-dollar corporations across the country.

Matthews’ tenacity and drive came into play long before she became a pharmaceutical trailblazer. Prior to her corporate career, Matthews competed as a guard in the Women’s Professional Basketball League, having been inducted into the Women’s Basketball Hall of Fame in 2017. Years of playing competitive sports helped her develop a strong mindset regarding failure and perseverance, one that she’s carried throughout her professional and personal life.

After graduate school, Matthews began her career consulting in the healthcare space. Working in healthcare was important to her from both a personal and professional perspective. Growing up, her sister was diagnosed with Hodgkin’s lymphoma, which led Matthews to spend a considerable amount of time in a children’s hospital, supporting her sister as she underwent treatment. Years later, this would gravitate her toward working with children’s hospitals on a professional level. “All of the people who work there make a difference in the lives of not just the children, but their families, too,” says Matthews.

Fast forward to her start at BioCare, where Matthews’ first order of business was to turn the company around and get it on sound financial footing. She knew she wanted to begin by building a strong team that could help push the company to new heights, so she started assembling a top-notch team — one she takes pride in to this day.

“Success is a function of the people you work with every day, and we are people who care,” she continues.

In addition to building a talented team, Matthews leaned into her passion for exceptional patient care by optimizing their care delivery systems and increasing access to life-saving treatments. The company’s size, unique business model and flexible mindset has allowed it to operate in a highly agile way, with customizable solutions for its partners.

Matthews knew the team and vision were only part of the success equation and that being a supportive and inspiring leader was also key to get the company headed in the right direction. Her focus on this type of leadership stems from her experience with supportive leaders in the past, and how much more motivated she felt when she had the right leadership

behind her. For instance, while playing in the Women’s Professional Basketball League, one coach made this lesson abundantly clear. Matthews and her team were heading to Los Angeles to compete against Olympian and superstar Ann Meyers. On the way to the game, her coach spoke to Matthews about how much he believed in her and how he wouldn’t trade her for any other player. Subsequently, she had one of the best games of her career. When it came to building and leading her own teams in the future, she recalled this moment and knew this was the kind of leader she would be.

While Matthews’ leadership style is very collaborative, she feels communication is one of her key assets. Early in her career, one project found her working primarily with Quality Assurance staff. She discovered this team needed a step-bystep sequential approach to guidance. It wasn’t until another colleague recommended she adjust her communication style that the project began to succeed. Matthews learned that understanding the most effective way to communicate with different staff is the key to great leadership.

“Managing a business is very much like managing a family,” Matthews says. “You need to be fair, but that doesn’t mean everyone wants to be treated the same.”

It was important to Matthews that BioCare’s work reflected the passion for the patient experience that she and her team valued, so she channeled that energy into developing a high-touch model of care. Thanks to the unique nationwide distribution network Matthews went on to build, BioCare can now guarantee delivery anywhere in the nation in four to six hours, from a customer’s initial request to the moment the treatment reaches the patient. It offers on-demand service and provides access to live BioCare representatives 24/7.

Prioritization of the patient experience has allowed the company to build a trusted track record in supporting unmet and urgent needs across ultra-rare, rare and orphan diseases.

Linda Matthews’ drive and determination continues to propel BioCare to new heights. Her integrity, perseverance and commitment to leading with transparency have grown the company exponentially and made BioCare one of Arizona’s top places to work.

BioCare, Inc. biocare-us.com

BioCare was named a 2021 Top Workplace by AZ Central. The top workplaces list identifies organizations that have created exceptional places to work and is based solely on employee feedback. Among just 110 companies, BioCare has been declared one of Arizona’s top organizations that make the state a better place to work through quality work environments.

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YOUR BENEFIT IN BUSINESS

WELL WELL WELL by Mike Hunter

Secure Vaccination Card Upload on App HealthChampion, a leading digital health and analytics company, recently released its secure COVID-19 vaccination card upload feature in its mobile app. Leveraging the existing platform that has been utilized by employers nationwide for symptom assessment since the start of the pandemic and, later, for vaccination tracking, this timely companion feature is free to all users and provides enhanced privacy for health data.

The app provides multiple layers of security for users’ Protected Health Information (PHI) by keeping it secure and encrypted on its HIPAAcompliant platform. Unlike the traditional method of saving a card photo to one’s phone’s photo library, uploading the card to the HealthChampion app provides additional protection. The vaccination card feature offers two additional levels of authentication: a secure login as well as biometric authentication.

“Because data security is a key focus at HealthChampion, we felt it was the highest priority to offer a safe, HIPAA-compliant solution for COVID-19 vaccination card storage,” says Terrence M. Ryan, CEO of HealthChampion. “It was equally important that this feature be available to all our users at no cost, as the need for keeping health information secure is essential to all patients and providers. As we continue to grow, we remain committed to patient outcomes and privacy.” myhealthchampion.com

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Elective Healthcare a Key Concern for Hospitals As if national healthcare systems weren’t stressed enough with the recent surge of COVID-19 cases, the American Hospital Association has reported these institutions are on the precipice of losing $54 billion in net income this year as they struggle with endless setbacks, including higher labor expenses, drug and supply costs — and waning elective procedure revenue, a significant financial driver for hospitals.

Specifically in Arizona, the Arizona Hospital and Healthcare Association reported elective surgeries make up 30–40% of hospitals’ revenue.

When Governor Ducey mandated a ban on elective procedures during the height of the pandemic, the local healthcare industry felt the financial strain.

With elective procedures currently authorized, AzHHA reports that Arizona could see up to half a billion dollars per month come back into its economy.

To help guarantee that revenue, Arizona healthcare providers must place a higher priority on the patient experience.

To better understand healthcare patients, LaneTerralever and Convince & Convert conducted a nationwide survey of more than 600 recent and prospective patients that resulted in the 2021 Elective Healthcare Modern Patient Insights Report. They found 66% of respondents delayed surgery due to the pandemic and 39% do not plan to reschedule due to their personal frustration with the healthcare patient experience. The survey uncovered a large gap between providerto-patient communication and patients’ expectations of the experience versus the reality.

OVERALL PATIENT EXPERIENCE MORE IMPORTANT THAN PROCEDURE OUTCOME

Overall, only 39% of patients were satisfied with the results of their procedures. Yet, it is the quality of the complete experience — not just the quality of procedural outcome — that principally determines their feelings toward providers.

Providers need to remember their patients are emotional by nature and feel enormous uncertainty throughout this process.

PATIENTS EVALUATE FEWER PROVIDERS THAN EXPECTED

During their research phase, 78% of prospective patients evaluated only one to two providers and made a decision fairly quickly. Sixty-four percent spent less than three months researching their procedure/providers and 32% scheduled their initial consultation in three weeks or less. This means providers have a short window to turn a

patient performing research into a patient booking a procedure.

PROACTIVE APPROACH TO REPUTATION MANAGEMENT

Providers have an opportunity to make a difference in a patient’s experience long before they make a decision by taking a more proactive approach with their reputation management.

And providers can use a negative evaluation as a chance to show their commitment to patient satisfaction, making it known they are connecting with a disgruntled patient and trying what is best to right a negative experience.

PROVIDERS MUST RAMP UP PATIENT EDUCATION

Another area of opportunity the report identified is to clearly set patients’ expectations before a procedure. Forty-four percent of patients said their questions were not answered by a provider’s website and 56% did not understand the costs involved, which is significant as cost is a major deterrent to booking a procedure. To address this issue, providers need to establish better patient education from early research to post-op care by turning their expertise and authority into content patients can utilize. Potential website content could include video interviews, interactive quizzes, procedure timelines, infographics and more.

POST-OP PATIENT ENGAGEMENT CAN DRIVE REFERRALS

To round out the patient journey, post-op care is where many providers drop off, with 56% not proactively following up after a procedure. In fact, 28% only followed up regarding billing. Providers should utilize one-to-one marketing and make time to speak to each post-op patient personally during their recovery period. This also helps with reputation management as it allows the provider to address any concerns or complaints before they become a public negative review. Plus, these patients not only have the potential to drive patient referrals, but they also may need another elective procedure in the future.

Nothing will set providers and healthcare providers up for success more than proactively taking more ownership over their patient experience.

—Lauren Hillery, director of brand strategy at LaneTerralever (www.laneterralever.com), which helps healthcare providers attract qualified patients and improve satisfaction with creative lead generation and seamless digital patient experiences

Thirty-nine percent of patients do not plan to reschedule their pandemic-delayed surgery or treatment and research shows a negative experience is to blame, according to the 2021 Elective Healthcare Modern Patient Insights Report from LaneTerralever and Convince & Convert. laneterralever.com/industries/healthcare-marketing-agency/elective-healthcare-patient-experience-insights-report

We’re Making Our Mark on Medicine OptumCare® believes that great health begins by providing forwardthinking leadership in the discipline of medicine. So we proudly serve Phoenix with advanced health care at 16 clinics with over 40 providers, all dedicated to putting the patient first. We’re here to stay—and to move care in our community in bold new directions.

Find out more at professionals.optumcare.com.

©2020 Optum, Inc. All rights reserved.

INNOVATIONS FOR BUSINESS

FinOps Strategy Integral to Successful Cloud Migration

TECH NOTES

Gig Apps Are Here to Stay The gig economy, which consists of people working in temporary positions or as independent contractors, has boomed in the last year, growing more than 33% in 2020. Well-known gig apps like Uber and Postmates have been around for more than a decade and are now considered mainstays in the gig economy, but as employers’ needs have changed following the pandemic, new apps are emerging. How do these apps work?

Traditional gig apps allow individuals to become independent contractors for the company. Rather than working a traditional 9-to-5 job, independent contractors can work as much or as little as they’d like and from the location of their choice.

For example, a person who works for InstaCart can work 40 hours a week or more to make their primary income or choose to pick up orders as they can to supplement their full-time income.

Additionally, they can decide if they’d like to work closer to home or venture out to different areas that may have more activity.

Now, thanks to the pandemic, new types of gig apps are emerging that help traditional employers find part-time employees when they’re in a pinch.

Apps like Instawork connect businesses with go-to hourly workers near them rather than closing the business due to lack of staff or limiting services.

This gives gig workers even more flexibility than ever by allowing them to work for a variety of different businesses at the drop of a hat.

The pandemic has created challenges for both workers and employers that gig apps have been able to relieve. The growth and innovation of gig apps, especially since the beginning of the pandemic, shows that gig work is here to stay. —Wayne Goshkarian, director of communications for Scottsdale-based Association for Entrepreneurship USA (afeusa.org), where he assists entrepreneurs nationwide with creating, establishing and expanding their businesses; and the forward-thinking founder of Dylan Consulting (dylanconsulting.com) known for bringing to the slow-to-change insurance industry cutting-edge technology

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A great cloud framework presents organizations with a solution regarding data, speed, accuracy and improved service, while FinOps provides a solution for governance and accountability. Everything comes together—cloud migration, valuation of data, enhanced security, architecture and, most importantly, a way for businesses to harness the power and speed of cloud. It’s important that businesses recognize cloud migration is not a single technology, and governance and FinOps must be accounted for to achieve the biggest ROI from their cloud migration strategies.

When organizations focus on the technology component of cloud migration and forget that moving to the cloud changes the dynamics of their budget, their expenditure misses the mark because it has moved from a predictable spend to a more variable and dynamic spend. When this happens, companies find budgets overwhelming and end up with the perception that the cloud is too expensive.

In reality, the expense is due to the organization not holding accountability to that expenditure.

FinOps is not there to save money, it’s about making money. However, companies must be aware that this is not a “set-it-and-forget-it” scenario. The company has to be on top of it…constantly. If there is no governance, accountability or architecture, then the Cloud will be costly.

Cloud should allow engineers and architects to speed the delivery of the business objectives, while using FinOps to provide an operating model to introduce accountability for the expenditure. This allows the company to focus on developing critical cultural shifts within financial, technical and operational control. If a company is interested in moving to the cloud, the key to success is governance.

How to Successfully Implement Governance and FinOps:

• It starts with creating a cloud framework, which includes the why, how, and who, along with the financial implications for the company.

• As governance is defined, the business begins the discovery phase to learn what applications and what systems will be put into the cloud as a cohesive workload.

FinOps is the practice of bringing finance, technology and business together to manage the economics of the cloud to gain a competitive advantage.

• From there, security must be wrapped around the workload to ensure compliance as well as enabling the data chain of custody, before moving onto the architecture of the cloud workload.

• At this point, FinOps comes into sharper focus, as the business will start to get an idea of the true cost.

• Next is the automation phase, which incorporates the time to develop IT proficiencies around processes and to determine how to build “everything as code,” which will reduce costs as the business grows and provide the ability to harness the speed of cloud.

• Finally, there are deployment and analyzation phases, where everything can be measured and monitored to look for continual opportunities for improvement. This cyclical nature of the cloud framework is a continual improvement loop and will grow as the business grows.

It’s essential that businesses adopt a FinOps approach for the cloud, or they risk financial loss and lost business opportunities. Ultimately, employees who aren’t aware of the strategic goals within the organization create not only security risks but financial risks due to the cloud enabling engineers, architects and developers to spend money in the cloud.

Businesses must have an understanding of why they’re going to the cloud, how they will do it and who it will benefit. Governance is extremely critical in the journey to the cloud to ensure there is a plan and that it matches up to the business plan and desired outcomes.

—Ryan Hooley, director of cloud and automation services for Technologent (www.technologent.com), a Global Provider of Edge-to-Edge(TM) information technology solutions and services for Fortune 1000 companies

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Technology is driving our economy – where do you fit in?

Technology is indisputably an economic driver as a sector. Is it also a driver of successful growth in other sectors?

“The technology industry is critical to economic growth in any community today because it not only produces high-wage jobs, but also supports many other industries,” says Eric Miller, principal and co-owner of Phoenix Analysis & Design Technologies and one of the pioneers in applying that groundbreaking 3-D printing to a wide range of industries and business uses 10 years ago. And he cites the Arizona Technology Council’s quarterly Technology Impact Report, which found that for every technology job created, 3.76 non-technology jobs are created.

Technology is “the foundation of modern life and business,” which makes it an important driver of every modern economy, says Chris Camacho, noting Greater Phoenix has seen incredible technology sector growth since “The Great Recession” when GPEC and the region’s public and private leadership made intentional decisions to diversify our economy and bolster the attraction and investment from leading tech firms. As president and CEO of Greater Phoenix Economic Council, Camacho not only has a front-row seat to what’s happening, he’s part of the team that has worked to help Greater Phoenix become a metro area that offers an affordable, high quality of life for workers and more reliable infrastructure, lower operating costs, and fewer regulations for businesses — which has resulted in more than 13,000 technology companies now calling Greater Phoenix home. “We’re a young, rapidly growing tech hub with a vibrant ecosystem of local innovators, founders, incubators, accelerators and investors,” Camacho says, “and we will continue to be a national leader in technology growth and innovation for decades to come.”

In fact, he sees technology as the answer to our economic competitiveness. “Our competitiveness, value proposition, venture

capital ecosystem and maturation of our highly skilled workforce to meet the needs of technology companies is the answer to continue securing investment and driving our modern economy forward. As Greater Phoenix continues to transform into a more modern economy, the global technological and digital evolution is going to propel sector growth leading to tens of thousands of jobs for our residents and further solidifying Greater Phoenix as a U.S. technology hub.”

Miller notes that technology it is one of the few industries that has shown exponential growth over the last 10 or more years, while industries like real estate and construction are very cyclical and have frequent highs and lows. But in building our area’s competitiveness, technology does not stand alone. Miller points to other factors of competitiveness to pay attention to, which include infrastructure, cost of living, the regulatory environment and, with an obvious impact on technology growth, education. “I believe we are also doing relatively well in these categories, other than education,” he says.

“Education is an area where Arizona has consistently lagged behind.

We’ve significantly improved the strength of the higher education in the area, but in K-12 we still have a lot of work to do.”

EVERY BUSINESS IS TECH – OR SHOULD BE Technology’s importance as an economic driver stems from its impact in fundamentally changing how all of us work and drive the economy. In fact, Aaron Bare, co-founder of the HeroZona Foundation and Entrepreneur-in-Residence at SU Ventures & Singularity University Incubator, makes the case that companies which do not embrace technology are being left behind. “We are heading towards a circular economy, with the aid of technology, that will not only change how we think about work but also how we think about money,” he says. “The future is very different from the present.

Some people will not like it, yet others will reap great rewards from the change that is about to happen.”

Bare believes every company in the future will be a tech company.

“If you don’t think your company is a tech company in 2021, you’re not growing and likely dying.” He cites as examples Domino›s Pizza and Starbucks Coffee. “These are not pizza or coffee companies. These are tech companies that just so happen to sell pizza and coffee. I challenge anybody to find a company that is growing that isn’t a tech company.”

The experience of Jad Chalhoub, Ph.D., director of business analytics for electrical contracting firm Rosendin, support Bare’s position. “Not every company is a tech company, but every successful company should become a tech company,” he says. Observing that in the past couple of decades, technology has shown an unmatched capability of pervasiveness, infiltrating and changing everything around us, he points out that in recent years, another level of infiltration became more noticeable: tech digitization vs tech digitalization. He explains the significance of that difference: “While almost every company is digitized, meaning its data has moved from paper to the digital world, some companies have started to change their processes entirely to leverage the new medium — and that is technological digitalization.”

Dr. Chalhoub notes this shift in process requires, almost by default, a shift in the internal functioning of any company: It requires new hardware and software, internally built or externally bought. It

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requires new personnel, with change agents and out-of-the-box thinkers to take on traditionally accepted norms. It takes a decision and support at every level of the company to move towards a future that seems alien. “For those reasons and more,” he says, “many companies are content with digitizing, and are unwilling or incapable of moving towards a fully digitalized world.”

However, Dr. Chalhoub cautions that digitizing may inherently carry more risk than a complete digitalization. He points out that technology has proven capable of augmenting all aspects of any given process: It may make a good process even more efficient, and it will either relatively or substantially highlight the inefficiencies of a less robust process. “To turn your company into a tech company, you first must find the bottlenecks in your current processes, identify areas of highest risk, and apply new, technology-enabled processes to these areas.

“The effects of applying technology, if done properly, will give you leverage to tackle more bottlenecks, and uncover more inefficiencies,” he continues. “It will give your company leverage over competitors, but, maybe more importantly, inspire others in your industry to do the same, with competition pushing everyone towards a more efficient future — a rising tide really does lift all boats.”

Emphasizing that it’s an ongoing process, Dr. Chalhoub says, “The move from a ‘traditional’ company to a ‘tech’ company is really an endless cycle as opposed to a one-time transition.”

Another view from someone well outside the technology sector, James Goodnow, managing partner of law firm Fennemore, acknowledges technology can be daunting, but believes it doesn’t need to be — particularly for companies wanting to grow and adapt to change. “If company leaders look at their competition, I’ll bet they’ll see examples of how technology is the growth catalyst” he says.

“Although some within a business may be intimidated by anything more than switching between apps on their phone, chances are the company is already paying for rich, productive technology that can drive efficiency and growth. You just may not be using what you’ve

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got to its full potential. So, before you shell out big bucks for the latest and greatest tech, make sure you’re maximizing what you already have. Once you’ve done that, focus on cloud-based tools that allow your teammates to better collaborate and share information across offices and locations. Don’t just go for the “razzle-dazzle” tech—find or create technology that helps you address specific customer or employee pain points. Targeting those needs will give you the best return and move your business forward.”

TECH JOBS IN EVERY INDUSTRY

As Miller noted earlier, tech jobs are important to businesses in non-tech industries. The Arizona Technology Council’s report breaks down employment by sector and shows growth of technology jobs in almost all. Some are minimal, to be sure — retail and entertainment are each less than 1%; but it’s instructive to see that it exists in realms from healthcare to real estate, from education to warehousing.

Miller describes some of the key technology jobs: • IT/Cybersecurity Professionals: This is the tech industry and individual that is most important to non-technology industries because these professionals keep every industry online and safe.

• Data Center Architects: These professionals enable everyone to have access to the computing power and storage they need,

TRANSFORMING WITH TECH

Bare says the biggest mistake he sees, as a consultant, is businesses simply throwing money at technology thinking it will make them a tech company. While that may, indeed, increase their technology capabilities, he believes all such innovation needs to start and end with the customer. “We don’t start with the technology; we look at the customer experience that we want to create and then ask ourselves, ‘What is the technology that will get us there and improve our customers experience with us?’”

Similarly, Miller emphasizes that tech is about creating tools for

TECH AS DISRUPTOR

Tech also creates the opportunity for businesses to be disruptors in their industry, which Bare believes is a significant fact. In fact, he says, “If you look at everyone else in your industry, you see that they are using technology to accomplish the same goal: wins for the customer.

Unfortunately, if you focus only on your industry and your known competitors, another industry will swallow your industry whole.”

Exponential companies, he explains, are growing and gobbling up adjacent industries with better solutions for their customers. He notes, for instance, that Mercedes Benz is no longer just competing with BMW; they both realized a shared concern and started collaborating.

“They are competing with Uber and Tesla in industries they would have never considered if they focused on each other.”

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So, is every company a tech company? “Yes,” Miller says, “because technology plays a very important role in nearly every industry’s success.”

However, Miller separates companies into two roles: companies that use tech and companies that innovate and create tech. “Both can certainly be considered tech companies,” he says, “but for Arizona’s growth, we’d like to attract companies that create and innovate. This is because innovators are the tech companies that create high-paying jobs and improve overall growth.”

from anywhere. As an example, using Microsoft Office used to require a high-end computer, but now all that power is hosted in the cloud.

• Advanced Manufacturing Professionals: Industries are using advanced manufacturing techniques to create better materials and safer/more efficient structures. Construction is a good example of an industry that has benefitted greatly from advanced manufacturing.

• Automotive Engineers: The engineers making electric and autonomous vehicles are improving nearly every industry, but especially supply chain/logistics and transportation. For instance, Nikola is creating more efficient trucks that create better jobs for truck drivers while driving fuel costs down, improving safety and creating a more sustainable world.

other people and believes that businesses are using technology correctly when they create a tool that drastically changes the way people do things for the better or improves the outcome drastically.

And he shares, “One of my favorite local startups, Qwick, took an industry about getting foodservice professionals to events from a highly manual process involving phone calls, email, and back and forth communication to an online application that allows the people needing workers and the workers themselves to find each other with a few clicks and with more money in both pockets.”

Karla Jo Helms, CEO of JoTo PR, observes that the challenge for businesses is how to be seen as a “goodwill equalizer” in the eyes of the industry’s audiences and influencers, noting that, while people dislike change, it is the very essence of innovation. “In the 25 years since the Harvard Business Review coined the term disruptive innovation, one common denominator has been abundantly clear: Research. It goes without saying that lack of preparation is a sure path to failure.”

Helms shares five ways disruptors “get it right”: 1. Doing market research into the key target audiences to find their actual acceptance or defiance to adoption. These key target audiences should include one’s competition; knowing

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their insight beforehand has given many disruptors the advantage of prediction.

2. Doing Key Opinion Leader market research that find the influencers of the key target audiences. Adopting the new media approach today — of communicating through influencers and key opinion leaders — allows adoption to occur 10 times faster.

3. Taking the two instruments and data above to mathematically calculate the size — and potential hindrance to adoption — of the target audiences, to come up with the estimation of effort (time, money, marketing) it will take to convince a segment of the population to change their minds or to think in a new manner.

4. Preparing early for legal suits, such as from competitors and anyone in those economic networks that will get cut out due

NON-TECH AS TECH

Tech has pervaded the financial industry so much that it has given rise to a new industry subsector: fintech.

“Fintech startups played a significant role in the global financial industry during the pandemic,” Frank Breuss shared in a recent article for In Business Magazine. The CEO and co-founder of fintech company Nikulipe noted that payments companies, especially, have brought rapid solutions to aid the transition in commerce, which shifted from physical to digital in a matter of months. “Payments industry experts expect the increase of fintech solutions to continue driving the growth of e-commerce for the foreseeable future, citing the change in user behavior,” he continues. “In fact, we believe some challenges that have undermined e-commerce before remain unsolved and so the need for fintech solutions will remain for the foreseeable future.”

Connie Carter, VP of business development at eMONEco, which works with financial institutions to create fintech-driven payments solutions, sees mass adoption of real-time funding systems around the globe as contributing to an environment in which many consumers, merchants, and financial institutions expect to be able to pay friends and customers, settle bills, and transfer money at the drop of a hat. “While the concept of ‘paying now’ is not a new one — cash is an immediate payment transaction instrument, after all — the growth of ‘real-time payment’ options has helped build a new standard among consumers. This new standard is driving change for traditional payment types — checks, credit, debit, prepaid, and the like — as consumers have generally come to expect faster settlement periods, notifications, and consolidated reporting.”

Carter believes this consumer expectation and the COVID 19 pandemic have brought these issues to the forefront and banks will need to transform their models to compete with the likes of Google, Apple, Facebook and Amazon (collectively referred to as GAFA).

“They’ll have to become digital services businesses that are able to monetize data and build products and services around predictive insights into their customers, such as how they earn money today versus how they will earn money tomorrow,” she says.

While COVID brought added attention to this issue, many banks had already begun adopting fintech solutions. For an article specifically

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to the innovation — and include crisis communication strategy plans in that preparation.

5. Utilizing the news media as a broad-stroke education tool to drown out ill-intended naysayers before they speak up.

“When you become a disruptor, you are putting a target on your back, so you must be prepared,” Helms cautions. “Know your tools.

Research, education via PR and publicity, and preparation for crises will help companies leverage the court of public opinion for the fastest adoption. That enables disruptors to gain positive exposure, which in turn will lead to bigger influence — and in many cases retard the liability of being attacked.”

exploring fintech in banking, Don Garner, CEO of Alliance Bank of Arizona, told In Business Magazine a year ago that Alliance Bank had begun seeing a “marked shift” in how businesses are doing business and responded by implementing such 24/7 tools as online business banking, secure mobile business banking apps, fraud protection, remote deposit resources and more to serve businesses. Crediting fintech with helping the financial industry make incredible strides in enhancing the speed, accuracy and responsiveness of banks, Garner says, “We see that trend continuing, especially as the FinTech community continues to push the envelope building increasingly efficient financial platforms and more enhanced tailored banking solutions.”

Carter cites a report from PricewaterhouseCoopers, “PwC Financial Services Technology 2020 and Beyond, whose research found that technology is affecting financial services in a multitude of ways. Its conclusions include the predictions that fintech will drive the new business model, digital will become mainstream, “Customer intelligence” will be the most important predictor of revenue growth and profitability and regulators, too, will turn to technology.

Another non-tech industry that has been high-profile in its embrace of technology is real estate — and HomeSmart International is arguably in the vanguard with its nearly three dozen technology products and services and use of more than four dozen technologies for its website.

While conventional brokerages tend to stick to tradition, HomeSmart has not only adopted technological advances but has developed its own solutions aimed at revolutionizing the real estate industry to provide an integrated system of excellent service at the hands of the latest technology.

The technology-powered real estate franchisor made its RealSmart Agent Mobile application available in the iTunes app store and on Google Play. As is the case with all other HomeSmart proprietary technology, the application was written entirely in-house and integrated directly into HomeSmart’s extensive technology platform.

In fact, the foundation of the HomeSmart business model is built on an ecosystem of proprietary technology that streamlines the homebuying process from listing to closing. There exists no third-

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party vendors or outside systems within HomeSmart, allowing less redundancies and complications for the end user. Founder and CEO Matt Widdows created the company to run on end-to-end technology, providing centralized services to all brokers and agents. This strategy to real estate, in turn, allows for consistency throughout all HomeSmart locations nationwide.

Law, says Goodnow, is one of the most traditional professions that exists — it prides itself on bucking trends and not following along with what other businesses are doing; it’s literally an industry that’s built on precedent, where it’s necessary to look backward to determine how to go forward.

Acknowledging that the legal industry has been slow to adopt technology, Goodnow says, “We view that, in our mind, as a great chance for us to outpace our competitors.” Goodnow says Fennemore has a lot of different software offerings integrated into the firm in all types of areas. Some are off the shelf, some the firm has been involved in helping to create, and some “Technology is — or should be — at the heart of even the most traditional companies,” Goodnow says. “Even if your business isn’t building search engines or smartphones, technology drives efficiency and collaboration at the best businesses across industries. This is especially true in an emerging post-pandemic world with a workforce inside and outside of the office. At our law firm, we’re implementing automation and AI-based technology that eliminates repetitive processes so our lawyers can better serve our clients and provide more value. For example, we’ve invested in new AI-based software that helps us break down client work into rational, structured units so we can understand the constituent parts of a case and utilize flat rates with clients when it makes sense.”

BECOMING TECH

“My advice for becoming a tech company,” says Miller, “is to look at how technology can improve your productivity and/or the value of the product or services you deliver.” A mortgage company, for example, can use or create technology to turn the process of getting a mortgage more valuable, easier, and more efficiently, while also lowering the cost of supplying the mortgage. “This represents taking an age-old process and using technology to stand out and add value, thus using innovation to stand out from the competition and, effectively, become a tech company.”

Bare sees tech at the heart of the massive transformative disruption happening right now to competition. “Once something is digital, it is able to go exponential. Companies that compete linearly have no chance against a company that grows exponentially. For example, digital companies compete for a long time just moving along deceptively until one day … you find they’ve disrupted your customer. From there, exponential companies seek to dematerialize,

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Additionally, he says, “Our needs have certainly changed as a result of the pandemic, and now with a distributed workforce, many of whom are in different locations in their homes, we’ve got to make sure that we can move seamlessly, so we’ve been working to integrate some new work distribution software, and that allows us to get assignments across offices and to people with the right skill set and the right availability.

With that as a high priority, Fennemore collaborated with an AI company to create software that helps the firm understand how much time it takes to handle a particular kind of case. “That helps clients when it comes to budgeting, giving them the opportunity to have flat-rate pricing. But it also helps us internally, to better understand how to allocate resources. We’ve invested in automation software, to streamline processes where we can.”

In fact, Goodnow says technology is at the heart of Fennemore’s strategic plan. And he emphasizes that such plans should not be static. “I think any business, in any industry, needs to reevaluate their plan post-pandemic. Anything you have, even if it’s from February 2020, you can probably toss it out the window now because the world has changed so much.” He sees technology as a key part of Fennemore’s adaptation for the future and helping the firm stay ahead of competitors. “So, it’s a big play for us, and we’re seeing results coming from it, and it’s something that we think’s going to give us a competitive advantage going forward.”

So, while Fennemore is clearly not in the technology industry, Goodnow says, “We have a very robust information system team at the firm, and included in that we have software developers and web developers that are with us on staff.”

demonetize and democratize,” he says, briefly describing the concept of his book Exponential Theory.

Says Bare, “Nearly every industry is in a transition — whether they know it or not.”

Aaron Bare aaronbare.com/exponential-theory Alliance Bank of Arizona westernalliancebancorporation.com/alliance-bank-of-arizona-home eMONEco emoneco.com Fennemore fennemorelaw.com Greater Phoenix Economic Council gpec.org HomeSmart International homesmart.com JoTo PR jotopr.com Nikulipe nikulipe.com Phoenix Analysis & Design Technologies padtinc.com Rosendin Electric, Inc. rosendin.com

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A PATH TO FOLLOW

It’s Not IF; It’s WHEN How Prepared Is Your Company for the Next Global Crisis?

by Mark Goulston, M.D., and Diana Hendel, Pharm.D.

Diana Hendel, Pharm.D., co-author of Trauma to Triumph: A Roadmap for Leading Through Disruption and Thriving on the Other Side (HarperCollins Leadership, March 2021), is an executive coach and leadership consultant and former hospital CEO. Mark Goulston, M.D., FAPA, co-author of Trauma to Triumph: A Roadmap for Leading Through Disruption and Thriving on the Other Side (HarperCollins Leadership, March 2021), is a boardcertified psychiatrist, fellow of the American Psychiatric Association, former assistant clinical professor of psychiatry at UCLA-NPI, former FBI and police hostage negotiation trainer, and creator of Theory Y Executive Coaching.

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We all wanted to think the worst was over — that those early pandemic days of stress and uncertainty were behind us and our companies could get back to normal. But with COVID cases rising and new global lockdowns just announced — and some companies re-thinking return-to-work plans — it seems that normal may be distant dream.

From now on we can expect one disruptive crisis after another.

Eventually, trauma will impact your company. It’s not if; it’s when — and the when is sooner than you think. COVID is the most obvious example, but it’s not the last. We all face a new era of uncertainty, and we need to be prepared to handle it.

Pandemics aren’t the only business disruptor. Not by a long shot. Over the past few decades, organizations have been rocked by technological shake-ups, shifting consumer habits and political and social unrest, not to mention internal upheavals like harassment, violence, scandal and more. That’s why careful preparation is a must.

Organizations that will stand the test of time are those that put a plan in place to deal with the kinds of disasters that could create traumatic stress in their people and destabilize their culture.

What does such a plan look like? While it varies from company to company, and is too comprehensive to describe here, here are a few of the “must haves.”

Get a firm grasp on the difference between “trauma” and “stress.” While stress upsets our balance in the moment, we still maintain a feeling of control over our lives. Most of us deal with routine stress daily and are able to manage it (up to a point, anyway). Trauma, on the other hand, overwhelms our self-protective structure and sends us scrambling for survival.

It leaves us vulnerable, helpless, groundless. It shatters our sense of safety and security and changes how we look at the world. And unaddressed, it can result in long-term harm.

Launch a Rapid Response Process the moment a crisis occurs. Think of this as a “Code Blue.” It’s a standardized, preplanned approach for dealing with disruption. Getting one in place helps everyone know exactly what to do so that decisions can be made quickly, efficiently and with a focus on safety. Here are the components to focus on: • Gather the Rapid Response Team. Businesses should appoint people to this team before a crisis happens and make sure they know their respective roles. It should include all

senior leaders and leaders of key functions such as operations/ logistics, security, finance, HR, communications/PR facilities, etc.

• Allow the leader in charge to delegate. There needs to be a central commander to manage response activities such as assigning personnel, deploying equipment, obtaining additional resources, etc. This leader must be fully present, visible and available in the heat of crisis.

• Have the team report to the command center. This is a pre-determined location (physical and/or virtual) for monitoring and reacting to events. Businesses should also select a CODE WORD that puts the Rapid Response Process into action.

• Gather relevant information. In a crisis it’s critical to centralize information, facts and data. What’s known? What isn’t known? The goal is to organize and coordinate response activities, ensuring that the most pressing needs are met and that resources are properly allocated.

• Promote a unifying message. It is vital to deliberately shape and disseminate a message of unity. Businesses must make sure their message is one of “we are all in it together.”

This helps people transcend the impulse to split into factions.

“Name, claim and frame trauma” from the onset. This helps everyone understand what is happening to individuals and to the group. It gives us the language to talk about it so that everyone is on the same page. It helps people say, “Aha, this is why I am feeling so bad!” And it gives everyone permission to finally seek real help.

Know the “red flags” of traumatized employees. When people are traumatized, they experience the “fight, flight, freeze” survival response. This is the body’s natural response to danger that enables us to defend ourselves or flee to safety or freeze as a means of survival (much like playing dead in the animal kingdom). Fight, flight, freeze can manifest in different ways. Some people might become hostile, belligerent, aggressive or otherwise “difficult” — often seemingly without adequate cause. Others might cling to their “competence zone,” blindly doing what they’ve always done even though it no longer works. People dig in and resist change. Or they may insist they are “fine,” even when it is clear they are struggling.

Meanwhile, leaders may behave in distinctively un-leaderly ways as well. They might hide out in their office instead of

Mark Goulston, M.D., FAPA, hosts the “My Wakeup Call” podcast, where he speaks with influencers about their purpose in life and the wakeup calls that led them there, and is the co-creator and moderator of the multi-honored documentary Stay Alive: An Intimate Conversation about Suicide Prevention.

STRATEGIES FOR WORKING REMOTELY jumping into action, or else make rash, knee-jerk decisions when they were previously known for levelheaded steadiness.

Get super focused on communication. (Think: “VITAL.”) In times of crisis, employees need frequent, real-time, transparent communication more than ever. The acronym “VITAL” will help people remember the tenets around communicating in the aftermath of trauma: • Visible. Leaders must be highly visible and take the lead in communication. Don’t hide behind a spokesperson. Communicate quickly and clearly to reduce ambiguity.

• “In it Together.” Double down on messages connected to teambuilding, camaraderie, purpose. Acknowledge fears and worries as normal. Let people know what to expect.

• Transparent. Align leadership in how they see the external environment and make sure everyone agrees on what “success” looks like so messages are cascaded consistently. Don’t create voids by waiting to communicate. Tackle rumors head on. Share bad news the minute it’s received.

• Accessible. Use all modalities (video, email, intranet, text, town halls, etc.) to convey messages from the senior leader. Have a central repository/ FAQ where people can get info and ask questions between regular communication sessions.

• Listening. Ask questions and leave room for inquiry. When listening, stop talking. Leaders must resist the temptation to listen just for what they want to hear (leaders’ job is to hear and deal with the hard stuff, too).

Leverage the power of the 4th “F.” People already know about the Fight/Flight/Freeze response. But there’s a lesser known “fourth F.” This stands for friend. It represents the bonding that occurs in response to trauma due to the presence of oxytocin (the “love” hormone that fuels friendships). This hormone causes people to bond in the aftermath of trauma. If leaders can leverage this camaraderie early on, it can bring the entire organization together. However, if they fail to do this, the fourth F can work against the organization as individuals bond with likeminded co-workers and end up splitting into factions. People begin to question other peoples’ motives and start taking sides. This division can lead to deep polarization.

Use “both/and” to stop post-trauma polarization. When a traumatic event occurs, opposing views can divide the organization. People believe the right course of action is either “A” or “B.” They see themselves as right and the other side as wrong. Leaders succumb to pressure and choose one option over the other (say, Choice A). When the downsides of that action appear, they reverse courses and go to the other extreme.

Naturally, the downsides of Choice B then appear … and leaders swing back to Choice A. With every swing of the pendulum, division deepens. This is incredibly damaging to an organization’s culture.

A “both/and” mindset helps us manage polarization. Instead of approaching issues with an either/or mentality, organizations can leverage both sides of these polarities with a both/and approach. The idea is to maximize the effects of both sides and minimize the downsides of each.

For example, in a crisis, effective leaders can both take charge and build consensus. They can be direct and candid and diplomatic and tactful.

It actually is possible to recover and go on to thrive in the aftermath of trauma. But it’s a process — and the process starts long before the disruptive event occurs.

Don’t be caught unprepared. When trauma shows up at your front door, the sooner you take action, the sooner you can make things right — and the sooner your employees can be on the road to healing.

Organizations that will stand the test of time are those that put a plan in place to deal with the kinds of disasters that could create traumatic stress in their people and destabilize their culture.

From Paycheck to Purpose For those who question: “Does the work you do matter to you? Are you unsure what you want to do for a living? Are you in the right place but looking to advance?” No matter where we are in our career, we were born to do work we love. National bestselling author and career expert Ken Coleman was stuck in an unfulfilling career until he realized he didn’t have to be. In his latest book, he draws on what he learned from his own 10-year journey as well as from coaching thousands of others to walk readers through the seven stages to discovering and doing meaningful work. His message is, “You are needed, and you were made to contribute. It’s time to exit the daily grind and use your talents to start living your dream once and for all.”

From Paycheck to Purpose: The Clear Path to Doing Work You Love Ken Coleman

272 pages

Ramsey Press

Available 11/9/2021

$24.99

Ignite Every entrepreneur starts with the same fears, doubts and anxieties about turning that small spark of an idea into a flaming success. From business planning to balancing wellbeing and hectic life schedules, this book breaks down the seemingly impossible journey into small manageable steps that can be covered over a matter of weeks, months or even years. Readers can use the helpful reflections tool to note their thoughts as they go along, so even if they come back to the journey at a later date, they can pick up right where they left off. Jo Richardson has more than 20 years’ experience as an HR professional coaching and mentoring women in business. She has supported female entrepreneurs and small-business owners to break through barriers and overcome personal and professional challenges.

Ignite: Bring your business idea to life without burning out Jo Richardson

156 pages

Practical Inspiration Publishing

Available 11/30/2021

$19.99

The Performance Curve Many of us are striving to reach our full potential at work and beyond — to achieve our goals, rise to challenges and connect well with others. But how can we actively develop our performance while also taking care of our well-being and life satisfaction? The Performance Curve is a bold new holistic guide that effectively tackles this challenge, providing practical insights into how to develop and sustain a productive and fulfilling life. Crucially, this book explores not only how to improve individual performance, but also how to build relationships and environments that bring out the best in others. By interweaving the individual and the collective, this unique approach produces the most effective and sustainable results across the board.

The Performance Curve: Maximize Your Potential at Work while Strengthening Your Well-being Laura Watkins and Vanessa Dietzel Bloomsbury Business

304 pages Available 11/30/2021

$35

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En Negocios

LIDERAZGO / LEADERSHIP

POR EDGAR R. OLIVO

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.

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5 pasos para dejar su trabajo de la manera correcta para comenzar su negocio ¿Has oído hablar de La gran resignación? Este concepto comenzó alrededor de marzo de 2021 cuando Microsoft publicó su informe Work Trend Index y un profesor asociado de la Universidad Texas A&M acuñó la frase en una entrevista viral de Bloomberg. El informe indicó que es probable que el 41 por ciento de la fuerza laboral mundial considere dejar su lugar de trabajo actual durante el próximo año. Más tarde, la Oficina de Estadísticas Laborales de EE. UU. registró que más de cuatro millones de trabajadores estadounidenses renunciaron a sus trabajos, lo que confirma que hay un éxodo masivo de trabajadores que dejan sus trabajos por otras aventuras.

Las tasas de renuncia continúan aumentando y hasta la fecha, más de 7.6 millones de estadounidenses han presentado su aviso de dos semanas. Esta situación única plantea la pregunta de por qué los empleados abandonan su lugar de trabajo, lo que se suma a la lucha por llenar un número récord de vacantes en todo el país. Una encuesta reciente de Digital.com encontró que el 32 por ciento de los encuestados que renunciaron a su trabajo lo habían hecho para comenzar su propio negocio. De ellos, el 62 por ciento dijo que su principal

motivación para renunciar era ser su propio jefe. A medida que la economía cayó, los empresarios estuvieron a la altura de las circunstancias. ¿Está pensando en dejar su trabajo para ser emprendedor?

Siga estos 5 pasos para hacerlo de la manera correcta.

1. Tenga un fondo de emergencia. No es ningún secreto que iniciar un negocio cuesta dinero. Tenga un plan para asegurarse de tener fondos suficientes para cubrir sus gastos fijos y variables. Encuentre formas de reducir sus gastos personales mientras inicia su negocio. Si tiene préstamos, intente liquidarlos antes de renunciar a su trabajo. Trate de vender cosas que no necesita o alquile una habitación adicional en su casa para que pueda tener un buen colchón en sus ahorros. Se alegrará de haber hecho esto.

2. Crea una fuente de ingresos. Muchas pequeñas empresas no comienzan a generar ingresos para sostener los gastos operativos durante aproximadamente los primeros seis meses. Es común comenzar su actividad secundaria mientras tiene su trabajo hasta que su

La gente está renunciando a sus trabajos a un ritmo más alto de lo habitual, y muchos están eligiendo ser independiente. La Gran Resignación es un término acuñado por primera vez en 2019 para predecir un éxodo voluntario masivo de la fuerza laboral. Según el Departamento de Trabajo de EE. UU., desde abril de 2021, un total de 11.5 millones de trabajadores renunciaron a sus trabajos.

ENGLISH TRANSLATION negocio comienza a mostrar rendimientos positivos. Explore las oportunidades de ingresos en la industria que seleccionó y comience a pensar en lo que se requiere para dar el salto como propietario de un negocio a tiempo completo.

3. Utilice sus beneficios. Aproveche todos sus beneficios médicos y de jubilación mientras aún tenga su trabajo. Si ha pospuesto las visitas al médico, hágase un chequeo completo antes de dejar su trabajo mientras aún tenga beneficios médicos.

Su plan de salud debe incluir deducibles y descuentos que lo ayudarán a mantenerse al tanto de su salud y de quienes dependen de usted. En cuanto a sus beneficios de jubilación, como un 401 (k), un experto en impuestos puede ayudarlo a transferir fondos para invertir en su negocio sin tener que hacer un retiro y continuar con sus contribuciones a medida que crece.

4. Necesita mantener sus relaciones profesionales. Tener a las personas adecuadas a su lado será importante porque la creación de redes es un factor clave para el éxito empresarial. Asegúrese de hacer una lista de personas importantes en su vida personal y laboral con las que mantenerse en contacto. Hablar con personas que están en la industria en la que desea participar es fundamental, ya que pueden compartir su experiencia y lecciones para ayudarlo a crecer.

5. Haga su plan. Un plan de negocios puede ahorrarle dinero, energía y dolores de cabeza. Le ayuda a considerar el camino que no ha tomado al explorar diferentes aspectos de su negocio antes de dar el salto de fe. Muchas organizaciones en el Valle ofrecen clases gratuitas para diversos grupos que desean iniciar un negocio.

Trabajar junto a un mentor y expertos en la materia lo guiará a través de obstáculos y oportunidades. Nunca subestime el poder de un plan y un mentor cuando persigue sus sueños.

Millones han dado el salto de fe para comenzar un negocio y es extremadamente gratificante ver cómo su arduo trabajo da sus frutos. Pero iniciar un negocio también requiere tiempo, energía y motivación. Asegúrese de encontrar algo que realmente le apasione mientras atiende una necesidad del mercado.

Si está listo para comenzar el negocio de sus sueños, recopile sus datos investigue y calcule sus números primero.

BY EDGAR R. OLIVO

5 Steps to Quit Your Job the Right Way to Start Your Business Have you heard of The Great Resignation? This concept began around March 2021 when Microsoft released its Work Trend Index report and an associate professor at Texas A&M University coined the phrase in a viral Bloomberg interview. The report stated that 41% of the global workforce is likely to consider leaving their current place of employment within the next year. Later, the U.S. Bureau of Labor Statistics recorded that more than 4 million American workers quit their jobs, confirming there is a mass exodus of workers leaving their jobs for other ventures.

Resignation rates continue to climb and, to this date, more than 7.6 million Americans have submitted their two-week notice. This unique situation raises the question about why employees are leaving their place of work, adding to the struggle to fill a record-high number of job openings throughout the country. A recent survey by Digital.com found that 32% of respondents who quit their job had done so to start their own business. Of those, 62% said their top motivation to resign was to be their own boss. As the economy fell, entrepreneurs rose to the occasion.

If you are considering leaving your job to test the waters of entrepreneurism, follow these five steps to do it the right way: • Have an emergency fund. It is no secret that starting a business costs money. Have a plan to ensure you have enough funds to cover your fixed and variable expenses. Find ways to reduce your personal expenses while you start your business. If you have loans, try to get those paid off before you quit your job. Try to sell things you do not need or rent an extra room in your house so you can have a nice cushion in your savings. You will be glad you did this.

• Create a source of income. Many small businesses do not start generating revenue to sustain operational expenses for about six months. It is common to start your side hustle while you have your job until your business starts to show positive returns. Explore revenue opportunities in the industry you selected and start brainstorming about what is required to make the jump as fulltime business owner.

• Utilize your benefits. Take advantage of all your medical and retirement benefits while you still have your job. If you have put off doctor visits, get a full check-up before leaving your job while you still have medical benefits. Your health plan should include deductibles and discounts that will help you stay on top of your health and likewise for those who depend on you. As for your retirement benefits like a 401(k), a tax expert can help you roll over funding to invest in your business without having to make a withdrawal and continue your contributions as you grow.

• Stay connected with your network. Having the right people in your corner will be important because networking is a key contributor to business success. Make sure to make a list of important people in your personal and work life to keep in touch with. Talking to people who are in the business you want to be in is critical, as they can share their experience and lessons to help you grow.

• Have a plan. A business plan can save you money, energy and headaches. It helps you consider the path not taken by exploring different aspects of your business before you take the leap of faith. Many organizations in the Valley offer free classes for diverse groups who want to start a business. Working alongside a mentor and subject matter experts will guide you through obstacles and opportunities. Never underestimate the power of a plan and a mentor when you chase your dreams.

Millions have made the leap of faith to start a business and it is extremely rewarding to watch your hard work pay off. But starting a business also requires time, energy and motivation. Make sure to find something you are truly passionate about while serving a market need. If you are ready to start your dream business, gather your facts, do your research and run your numbers first.

People are quitting their jobs at a higher than usual rate, and many are choosing the gig economy. The Great Resignation is a term first coined in 2019 to predict a mass, voluntary exodus from the workforce. According to the U.S. Department of Labor, since April 2021, a total of 11.5 million workers quit their jobs.

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Economy

DEVELOPING & GROWING BUSINESS DYNAMICS

Small Business Owners Can Maximize Their Retirement Plans While they offer plans for employees, employers should plan for themselves as well

by Jacob Guttman

Jacob Guttman, FSCP®, is the president of Phoenixbased Rosevest Financial and acts as a personal chief financial officer by providing comprehensive and intentional financial solutions.

Rosevest Financial is a client-centric wealth management practice fueled by creating strategic, long-term financial planning and providing peace-of-mind along the way. Securities and advisory services offered through Geneos Wealth Management, Inc. Member FINRA/SIPC. rosevestfinancial.com

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For many small to midsize business owners, retirement doesn’t seem realistic. In fact, new research by SCORE found that 34% of business owners don’t have a retirement savings plan and 40% aren’t confident they will be able to retire before the age of 65. How to save effectively before hitting a certain age often escapes a business owner’s mind, pushed aside by a focus on supporting customers, clients, staff, vendors, spouses and children first. Additionally, the blood, sweat, money and tears put into a business oftentimes makes it that much harder to plan on parting ways, but laying the groundwork for retirement is absolutely necessary.

The tried-and-true method of building wealth is the employer-sponsored retirement plan. Holding a vast proportion of wealth today, the deferred compensation model has led to the successful savings and retirement of countless Americans, but what about those who administer the plans?

Small-business owners should take a step back from their daily responsibilities and follow some simple steps to maximize their retirement benefits with proper planning and execution.

Know the numbers. Getting a firm grasp on business and personal expenses can be nerve racking, and often creates anxiety in the answers that are found. On the flip side, having an honest idea of the financial situation allows a smallbusiness owner to move forward with confidence. Just like any other goal, it’s hard to get there without knowing where the starting point is. Key indicators may include how much the business owner pays him- or herself, annual retirement funding amounts and income needs down the road.

Develop an exit strategy. Small-business owners tend to not come up with an exit strategy for many reasons, including that with a stable income and staff members running the company, they don’t have confidence in an exit plan or they think an exit isn’t the answer. Unfortunately, they’re wrong.

Every small-business owner should set the benchmark of a business sale to be on the horizon. Maybe they don’t come into liquidation in the form of a buyout but, in the process, they will have worked toward creating a well-oiled machine that, ideally,

Research by SCORE has found that 34% of business owners don’t have a retirement savings plan and 40% aren’t confident they will be able to retire before the age of 65.

provides excellent service and repeatable outcomes. Whether it’s a check upfront for that exit or a monthly check for business owners to step back and enjoy their personal time, they can realistically hope they will never “die at their desk.”

Set up a comprehensive retirement plan. A proper retirement plan, and in this case an employer-sponsored deferred compensation plan, can make enormous differences in a small-business owner’s annual savings, tax deductions and employee satisfaction. By working with a CPA, an advisor and often a third party administrator (TPA), they can likely create a highly effective savings and tax strategy that fits the needs of their business and themselves. Options include a Solo(k), Defined Benefit Plan, SEP or SIMPLE, and there are options for businesses of every size. If they don’t have employees, there’s a plan for that, too.

Keep it simple. This reigns supreme in the world of investing, accounting and proper planning. If a small-business owner encounters a proposal that is sexy, shiny and seems too good to be true, more often than not, it is too good to be true.

There is no “one trick” to model their finances after the world’s wealthiest people. They are often over-promised and underdelivered when it comes to their needs and end up paying for goods and services under the guise that one will fix all their problems. Avoid the so-called “experts” selling programs or books and lean into the professionals who know the business owner’s real situation.

Depending on the size of the business, owners may find they have very simple needs. Hiring a trusted advisor or a team of advisors is an absolute must. With success in mind, business owners should place more value on the advisors around them than the cost to sort out items such as accounting, investing, risk management, retirement planning and legal. Lean into trusted professionals that know the business and the owner’s goals. With the right help, small-business owners can tune out the “noise” of the financial and business world, narrowing their focus on the things they mastered and delegating those in which they have no expertise.

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Meet Uncertain Times with Confidence.

Quarles & Brady understands your COVID -19 business issues and provides advice and solutions to your challenges.

VISIT OUR COVID-19 MICROSITE AT WWW.QUARLES.COM for current information on how legislation and announcements resulting from the pandemic impact your employees and business operations.

FOR INFORMATION, PLEASE CONTACT Leonardo Loo, Phoenix Office Managing Partner, at 602.229.5638 or leonardo.loo@quarles.com.

quarles.com

LAW MATTERS TO BUSINESS

What Does Phoenix’s Growth Mean for Business?

In this fastest-growing of U.S. metropolises, legal issues need to keep pace with innovation in business

by Eric Johnson and Jon Howard

Eric Johnson is a partner at Quarles & Brady and the Phoenix Office Labor & Employment Chair.

Johnson’s practice has an emphasis on employment law counseling and litigation in Arizona, Nevada and New Mexico state and federal courts.

Jon Howard is a partner and National ViceChair of Quarles & Brady’s Business Law Group, located in the Phoenix office. Howard works closely with executives and legal departments to complete transactions such as mergers, acquisitions, sophisticated commercial contracts, reorganizations and joint ventures. quarles.com

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Being one of the fastest growing cities in the country has helped Phoenix gain not only new residents but also an unprecedented level of new investment, startups and M&A activity.

The influx of young professionals and the increase in successful exits within the technology sector creates an ideal environment for startup growth. Much like a self-sustaining ecosystem, former founders who have successfully exited from a company are able to use the funds to reinvest in new companies. Additionally, an expanding population provides both the need and the brainpower to innovate and form new startups. Phoenix has already seen successful startups in the healthcare, real estate and technology sectors, all of which are areas that will continue to be in high demand.

The legal community continues to serve an important role in structuring these new companies and facilitating investments. Additionally, because of the innovative nature of startups, law firms will help such companies develop their products and services, protect their intellectual property and operate in a compliant manner (especially in highly regulated industries such as healthcare, banking and vehicle manufacturing). This means legal professionals will be on the forefront of groundbreaking questions such as the regulation of autonomous vehicles, the further adoption of telemedicine and how to further ensure data privacy. As new technology is developed and the state and local governments continue to support policies that promote growth and innovation, the Phoenix area will expand its growth as a specialized legal market with the opportunity to drive the national discussion on many important issues.

The same factors that drive startup expansion also boost the volume of M&A deals. As the population grows and valuations increase, the incentives to sell also increase.

As a result, there will likely be a higher volume of sales of homegrown Phoenix companies. The money these transactions bring to Phoenix will provide the opportunity to reinvest, which will increase the volume of future deals.

Lawyers facilitating these transactions will continue to see not only a surge in the volume of the work, but also an increase in the size and sophistication of the transactions. In this climate, not only is the temperature hot; the deals are, too!

The significant migration of individuals to Phoenix and their addition to the labor market also creates opportunities as well as potential pitfalls for employers. Indeed, one might reasonably conclude that this would lead to an increase in job competition without a need for significantly raising wages.

However, despite this influx, many Phoenix employers remain

desperate to fill vacant positions, and this results in applicants/ employees gaining leverage when negotiating wages or other employment terms and conditions. Notably, many new Arizona residents are coming from states like California, where there are a multitude of pro-employee rights and/or privileges that are not required in Arizona. As a result, some employers are proactively adopting more favorable employment policies in order to attract or retain top talent.

While some businesses are struggling to find employees, as noted above, others are flourishing (such as those in the technology sector). For new or small employers experiencing rapid growth, there are a number of legal considerations to keep in mind. For instance, does the increase in the number of employees trigger any federal or state laws such as the Family and Medical Act, which applies to any employer with 50 or more employees within a 75 mile radius? Also, does it make sense for employees to execute non-competition or other restrictive covenants in order to safeguard the company’s confidential information and other legitimate protectable interests? Should an employee handbook be created or updated? The answers to these questions will vary by the employer, but they are questions that all businesses should at least be asking themselves and/or their legal counsel.

Though growing businesses should consider various employment-related issues as they grow, they would also be well advised to prepare for another downturn in business should the Delta or some other variant rampage across the country again. Employers subject to the Worker Adjustment and Retraining Notification Act (WARN) must comply with various regulations when laying off a significant number of employees. While employers were given some relief from WARN when the pandemic hit in 2020, as it was so unexpected, such slack might not be given in the future as employers are now aware of the possibility that they may have to lay off a number of employees quickly should another pandemic persist.

According to the newly released census numbers, Phoenix is the fastestgrowing city among America’s biggest metropolises: The population grew from 1.4 million people in 2010 to 1.6 million in 2020, a rate of 11.2%.

Huge teams.

Hidden costs.

Everything on the meter.

Sorry, that’s just not us.

Our clients hire us to understand who they are and what they want, whether that’s leaner teams, transparent budgets or alternative fee arrangements.

We continually monitor and evaluate their needs, anticipating the value they demand – delivered the way they want it.

Find out more at swlaw.com.

Albuquerque | Boise | Denver | Las Vegas | Los Angeles | Los Cabos | Orange County Phoenix | Portland | Reno | Salt Lake City | Seattle | Tucson | Washington, D.C.

Social Impact

BUSINESS GIVES BACK

Arizona Federal Credit Union in the Community Helping to leverage spending to aid charity

LOCAL ARTIST, LOCAL CAUSES DEBIT CARD GIVEBACK PROGRAM With Arizona Federal Credit Union’s Local Artist, Local Causes Visa® Debit Card, each time a cardholder makes a purchase with the card, the credit union will make a donation to a community fund that helps support nonprofits throughout Arizona. arizonafederal.org

Tyler Butler is the head of Corporate Responsibility for Aventiv Technologies, where she leads programs that positively impact society. She is also founder and principal of 11Eleven Consulting and is often cited as a subjectmatter expert by Forbes, SHRM, Entrepreneur, U.S. News and World Report and more.

11elevenconsulting.com

At its core, Arizona Federal Credit Union is a shepherd of responsibility and leadership. Founded in 1936, the credit union empowers members to take hold of their financial future through the delivery of leading-edge resources. As a $2.6-billion not-for-profit local cooperative providing financial services and expertise to more than 140,000 member-owners, it is an integral contributor to the Arizona community.

Arizona Federal is dedicated to making a difference in the communities it serves by supporting local nonprofits across Arizona. The credit union assists a wide variety of worthy organizations. Its focus areas are education, equality and social inclusion, community services, children and youth, and sustainability. Additionally, it is the sponsor of the LiveNation Theatre venue and exclusive credit union partner of the Phoenix Rising FC. “We are firm believers that social impact comes organically when an organization is mindful of the community they live and work in, and so all of our corporate social responsibility efforts are anchored in the ‘local first’ mindset,” says Jason Paprocki, SVP and chief operating officer at Arizona Federal Credit Union. “We have seen first-hand how small, concerted efforts to support local nonprofits and organizations can make a lasting impact and create that ripple effect of positivity that strengthens our community. We are thankful to our employees and member-owners for embracing our vision and helping us identify more ways to support our community.”

Supporting the community and empowering its memberowners to take charge of their financial situations is the foundation for what it does. And giving back to the local communities supporting its members where they live and work while ensuring we all live in a thriving, vibrant community is its goal. Arizona Federal Credit Union’s debit card giveback programs have proven to be the most effective way to provide funding and monetary support to the nonprofits its member-owners feel a strong connection to. Since 2018, the credit union has donated more than $200,000 to community organizations through its debit card giveback programs.

Until recently, this program had focused on two cause partners: the 100 Club of Arizona debit card to support the

families of fallen first responders and the Arizona Humane Society debit card to support animal welfare initiatives. In 2020, Arizona Federal Credit Union launched a new debit card give-back option called the Local Artist, Local Causes card. This program allows it to distribute funds to hyper-local nonprofits who apply through its program. The intention is to provide grants to multiple nonprofits around the Valley, giving out mico-grants to numerous nonprofits that meet criteria to support education, equality and social inclusion, community services, children and youth, and sustainability.

Arizona Federal recently gave out its second round of funding, which is all generated through debit cards used by its members. Through these two distributions of grant money, the organization has given away grant funds totaling nearly $50,000 and benefitting 26 different nonprofits, all of which must have an operating budget of less than $2 million and provide support to community members within one of their key pillars. What’s more, many of the causes supported are great nonprofits that are definitely not household names.

This is a program that will continue with bi-annual distributions to hyper-local nonprofits and, from a business perspective, has been extremely well received by its memberowners as a simple way to give back by simply using their debit cards. Although small in monetary amount, these grants have filled very specific needs for the nonprofits to execute on their missions. Through these community partnerships, Arizona Federal Credit Union has been able to fundraise for local nonprofits and is looking forward to reopening in-person fundraising events as safety protocols permit.

“To make a lasting impact, an organization must continue to grow and look for new ways to engage with the communities we call home,” says Rachel Galvez, marketing partnerships manager. “The Local Artist, Local Causes program is one we are proud of as it allows us to impact so many organizations with our monetary donation. But beyond that, we look forward to engaging with these local nonprofits through our employee resource groups and continue to foster relationships we hope last well beyond these grants.”

Arizona Federal Credit Union arizonafederal.org

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Since 2018, Arizona Federal Credit Union has donated more than $200,000 to community organizations through its debit card giveback programs.

Photos courtesy o f Arizona Federal Credit Union

by Tyler Butler

Change

NEW OPPORTUNITIES

Measuring Success – How We Know We Have ‘Arrived’ The fifth article in a series on Change: The Provider of Opportunity

by Bruce Weber

PREVIOUS ARTICLES IN THIS SERIES: “Execute Wisely and Strategically” (In Business Magazine October 2021) “Making Sense of the Puzzle” (In Business Magazine August 2021) “Exploring the Possibilities” (In Business Magazine June 2021) “Embrace the Unknown” (In Business Magazine May 2021)

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

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In “Execute Wisely and Strategically,’’ we discussed understanding how, once many ideas are generated, we then begin the ideation evaluation process and determine what remains and what is eliminated. Here, we will focus on the solid execution of those new ideas and propelling the organization in creating the future it wants. This article reviews the measurement of success once idea execution has begun, and how to ensure that goals are truly being attained.

There is no such thing as a perfect tracking system, but not having one puts a business into serious jeopardy. Jack Welsh of GE once said, “if you cannot measure it, you cannot manage it.”

Understanding where the business stands against its goals is fundamental to being on the road to success. There are several key components to consider along the way to discover what progress is being made against the business’s goals.

Before developing a set of measurement metrics or key performance indicators (KPIs), business leaders must first determine exactly what is intended to be measured. The measurement criteria should be tied directly to the strategic objectives of the business with a focus on recognizing achievements and goal attainment.

The next step is to develop a common measurement language that provides focus to all inside the organization.

This “metric language” allows for comparison among groups and offers consistency. It’s important to use common institutional metrics, and not select too many so as to not to overload the staff tracking them. In a mentoring organization, for example, metrics might be days until match, frequency of match meetings, and length of time the match remains in the match relationship. Keeping the metrics to relevant, meaningful data is critical to adoption of those metrics.

The quality of the metric is much more important than the quantity, and the metric focus should always be on informing

against strategy and performance. Thinking about the goal, which is to inform progress against plan, will help the business leader to always keep that in mind and avoid too many surveys/measurements resulting in survey fatigue. Each goal measured should be actionable and contain reasonable timeframes for accomplishment.

Goals and measurement are great calibration tools that help facilitate adjustments in strategy where needed. A business plan is not intended to be a static document of direction but rather a framework within to operate the business. It is wise to spend time on the expectations and actions required to execute well and avoid overmanaging the process, as that can encourage discontent; the metrics should be used as a guide without letting them overwhelm. Also, if a red, yellow, green nomenclature is used in a measurement scorecard, red should not be viewed as failure but rather an indicator that some urgent activity and direction need occur. Leaders should engage discussion and collective action among the team for the desired results.

As the measurement and goal attainment process unfolds, business leaders should allow provisions for metrics and targets to evolve. The most successful plans are built as a framework or container in which the business goals and strategic imperatives reside. It’s important to allow them to morph into what is needed within the business to succeed and avoid delays searching for the perfect measurement.

Finally, metrics are not an excuse or substitute for decision making. The focus should always remain on managing the organization’s strategy and working remaining true to accomplishing the “why” and purpose. Following this process allows true success to be obtained and allows the metrics to inspire the business!

“Having a robust and clearly defined set of benchmarks not only establishes credibility, but also gives credit to the growth and impact narratives for each organization.” —Dave Policano, Policano Consulting LLC

OUR SUBJECT IN-DEPTH

A Housing Issue We Can’t Afford to Ignore After all, Phoenix is the second-fastestgrowing city in the country

by Don Henninger

The lack of affordable housing and the mounting resistance to multifamily housing development is creating serious heartburn in the Valley’s business community — among builders and employers alike — who view it as a risk to healthy economic growth.

It’s been a thorny issue in Scottsdale for a few years now, and that city is getting a reputation as a tough place to launch new apartment or condominium projects due to an unfavorable political climate. Among the fallouts of limited housing options: 80% of the 200,000 people who work in Scottsdale every day live somewhere else, creating traffic congestion and making employee retention difficult, and there is concern that young families are being priced out of the city.

But it’s not limited to Scottsdale. The resistance to multifamily projects is surfacing in many cities in the Valley, from Gilbert and Chandler in the east to Buckeye and Surprise in the west.

The need for more diverse and affordable housing options is becoming apparent with the low supply and record-high prices of single-family homes throughout the Valley. But there is serious opposition to multifamily options, with neighborhood groups — well organized and motivated — creating political pressure in their cities against them.

The Valley now has the highest occupancy rates in multifamily housing units in the past 50 years — more than 97% full. For all practical purposes, that basically means sold out.

With Maricopa County continuing to post rapid population and job growth, the problem is only getting worse.

Economist Elliott Pollack said in a recent forecast that there already is a shortage of 15,000 apartment units in the region, in addition to what’s needed to keep up with population growth. And the growth is going full bore. Phoenix is the second-fastest-growing city in the country, only behind Austin, and is one of the few regions with more jobs now than before the pandemic.

As Valley cities add jobs and people, it’s becoming a challenge to find places for those people to live.

Neighborhood opposition has caused developers to stall or pull out of plans to build multifamily projects in Surprise and Buckeye.

Surprise Mayor Skip Hall said residents have launched petitions to stop the “low-income and high-density” apartments and are spreading misinformation about the projects over social media.

In Gilbert, neighborhood activists are threatening its mayor and council with recall efforts if they approve any more multifamily units. Similar sentiments are putting pressure on city leaders in Chandler.

The demand for multifamily options is fueled by younger renters who want to live within walking distance of where they work and play. It’s a lifestyle issue. And baby boomers who want to downsize from single family homes to smaller rental options are in that mix, too.

Couple the changing demographics with severe supply shortages and something has to give.

Business groups are now starting to organize to make those points clear both to residents and leaders in cities across the Valley, realizing that their voices are being muffled by local neighborhood opponents.

The Phoenix City Council has approved a plan that would call for 50,000 affordable housing units to be built in the city within the next decade. And, while it can’t control many of the costs associated with building multifamily projects, it could ease some of the development standards for commercially zoned land to make that goal more achievable. That would generate some momentum for affordable housing, revitalize commercial corridors without neighborhood pushback and expedite entitlement and site plan approvals, reducing costs to builders.

The Arizona Housing Department is acting, too, assembling a $24.5-million fund for developers to build affordable housing.

Tom Simplot, head of the department, has acknowledged that rapid growth is outpacing the existing housing supply and it is “a serious challenge.”

“Our department’s analysis suggests that Arizona needs an estimated 250,000 new housing units to keep up with demand. And I’m calling on affordable housing developers to apply for this gap financing and move forward with their sorely needed projects,” he wrote.

He said the department is committed to working with local governments and neighborhood groups to overcome their objections to new housing developments.

All this surely will help. But the challenge is becoming a risk to the region’s economy, and it should be a major wakeup call to business and city leaders alike across the Valley.

Single-family housing affordability isn’t the only challenge for people looking to live in the Valley. Rental rates have grown faster in the Phoenix market than anywhere else in the country, averaging more than $1,500 per month, an increase of more than 26% since the beginning of 2020, according to RealPage, Inc.

Don Henninger, executive director of Scottsdale Coalition of Today & Tomorrow (SCOTT), spent more than 30 years in the newspaper business in the Valley with The Arizona Republic and Phoenix Gazette, where he served in numerous roles, including managing editor, and at the Phoenix Business Journal, where he was publisher for 14 years. SCOTT is a nonprofit group of business and civic leaders who work to educate and advocate for issues important to the city’s economic health and quality of life. scottnow.com

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OUR SUBJECT IN-DEPTH

FIND LIGHT IN THE DARKNESS OF WINTER The winter blues and seasonal affective disorder (SAD) both commonly involve: • Lethargy • Gloominess • Sleep difficulty • Changes in eating patterns, especially seeking more carbs and comfort foods • Mood alterations, with an increase in irritability and socially withdrawal Although 2020 brought many events that are out of our control, good health and happiness are within reach if we find the light in the darkness of winter. Light from the sun, emotional light from humor and personal connection, spiritual light from meditation and volunteering, mental light from gaming and education, and physical light from exercise and good nutrition — they all help us cope and enjoy life when winter blues or SAD threaten.

Jen Butler, CEO of JB Partners, is the creator of Get SMaRT- Stress Management and Resilience Training for the workplace. Their SMaRT Club learning platform is the leading, self-guided tool for all companies looking to reduce stress and increase profits. Jen also travels throughout the United States to provide business leaders with one-on-one, onsite guidance in managing stress, turning around their business, and achieving real, long-lasting results. jbpartners.com

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Why Businesses Suffer More in Winter Seasonal affective disorder affects more than 10 million Americans every year

by Jen Butler

This article provides concrete, scientifically proven ways to avoid the consequences of seasonal affective disorder SAD — which affects more than 10 million Americans every year, with 6% even requiring hospitalizations — and keep one’s workforce energized through the winter months.

Going into the darkness of winter this year, many of us are already on the brink of anxiety and depressive disorders while living on or beyond our stress thresholds. A study by the CDC compared similar populations from June 2019 and June 2020 for symptoms of anxiety, depression and strain.

Anxiety disorders rose from 8.1% in 2019 to 25.5% in 2020; depressive disorders tripled (from 6.5% to 24.3%); and mental strain rose from 30.9% to 40.9%. These numbers continue through 2021.

What this comes down to is that more CEOs, other executive leaders and employees will experience winter blues symptoms for the first time because their coping abilities are already depleted; they are well on their way to SAD.

WINTER BLUES VS. SAD

The winter blues come and go throughout a day or week.

For the most part, people enjoy their lives and handle their emotions, and few of their family, friends and associates notice.

Then there are those people who consistently (year after year) and permanently (no ebb and flow) suffer from a compounding development of symptoms that definitely do take over their lives and that other people definitely notice.

Seasonal affective disorder overwhelms their sense of joy and ability to cope, and treatment becomes necessary.

Find the light. What medical professionals and researchers do know about SAD is that it is very treatable. It relies on finding the light in many forms and threading it into one’s daily routine. Employers encouraging workers to do some of the following will keep up emotional and mental spirits while maintaining strong productivity.

Use the light: a minimum of 30-minutes of sun exposure every day, especially in the morning. Additionally, bright light works as a treatment — it takes one to two weeks of consistent treatment for symptoms to begin to subside, and consistent use of light may prevent relapses throughout the winter.

Posting colorful pictures around one’s home and work area will boost one’s mood, as will dressing in lighter clothing. (Also helpful, if appropriate: coloring one’s hair or painting one’s nails with a vibrant color.)

Create emotional lightness. Threading humor into one’s day will alleviate symptoms; in fact, whether one listens to humor or creates it, laughter is medically proven to reduce stress, anxiety and even physical pain.

Journaling is also a significant help in handling winter blues and the symptoms of SAD; journaling about one’s day and feelings during light therapy renders a double benefit. Also helpful for those suffering for SAD is finding supportive people

Seasonal affective disorder (SAD) affects more than 10 million Americans every year, with 6% even requiring hospitalizations.

who can listen to their struggles and empathize with them.

Build strong mental light. Keeping mentally active is a good tactic, not only for distracting one from a depressive mood, but also for boosting self-confidence, energizing conversation, and improving skills. It can be helpful to try to master a new subject through reading and research, take an online course, or try a new hobby.

Those who find themselves slipping into forgetfulness; inattention; and obsessive, repetitive thinking during the winter may find video games helpful. Medical research suggests that video games improve cognition and coping ability while reducing stress and depression. Cooperative games immerse players in an online community, providing the benefits of social interaction.

How much video gaming is too much? Experts vary on their answers, although some consider moderate play of 7 to 10 hours a week optimal for mental health and anything over 10 to be excessive. Most experts agree that one must monitor oneself: One is playing too much if symptoms become worse (one’s sleep and nutrition suffer, for example).

Aim for physical lightness. For most people, winter is the most difficult time to begin a diet, and those who are already stressed and depressed do not need the additional stress of trying to lose weight. But grabbing opportunities to walk outdoors or attempt to learn a winter sport, such as snowshoeing or skiing, can help in maintaining one’s weight.

When carbohydrates beckon, satisfy the craving with whole grains (oatmeal for breakfast, multi-grain bread for toast).

Instead of candy and sugar-loaded snacks, try fruits and vegetables, especially those with bright colors. And it may be helpful to talk to a doctor about getting enough Vitamin D; selfdosing is not recommended as too much may overload the body.

Employers can help those in need additional support, encouraging them to reach out to a family member, friend, coworker or therapist who understands their efforts. It’s good to remember that springtime always comes again.

OUR SUBJECT IN-DEPTH

Electric Vehicles Are Hot for Arizona Showrooms and manufacturing facilities strengthen the industry here

by RaeAnne Marsh

There was a time when going to the mall meant shopping for clothes and home knick-knacks – offering a lot of choices thanks to there being a number of stores conveniently in one place. Now, it can mean shopping for one of an individual’s biggest purchases: a car.

Electric vehicles are making this merchandizing move.

Scottsdale Fashion Square boasts a collection of three manufacturers.

Tesla was first, a few years ago, showing off its vehicles in its showroom in the heavy traffic aisle by Nordstrom across from the Microsoft Store.

Earlier this year, Polestar eagerly added its presence, opening a pop-up stand by the food court while waiting for its permanent space to be completed by the expected date in October. And Scott Gruwell, president and CEO of Courtesy Automotive Group — to which the Swedish manufacturer awarded the only Polestar franchise in Arizona — noted at the time, “Unlike many of our competitors, we have Polestar 2’s to drive home today or we can customize one for you and have it delivered in two weeks. Our non-commissioned Polestar specialists at the mall make learning about the Polestar a snap and they also help make doing the entire transaction online easy.”

And this past August, Lucid Motors launched its first-inArizona Lucid Studio in a prominent spot at the foot of the stairs leading to Harkins Theatres — with a grand front door showing off one model and a lengthy expanse of windows opening to view what looks quite like an electronics store.

Which, it could be argued, it in fact is — with the feel of an upscale lounge.

“It’s all about discovery,” says Lucid’s public policy lead Daniel Witt. One of the studio’s most innovative features is the virtual reality front-seat car section, which offers customers and browsers a chance to actually sit in a Lucid Air and virtually experience a little road trip while immersed in different choices of interior finishes.

Some of the other aspects of Lucid’s electric vehicle are there to experience physically, such as “hefting” the amazingly

lightweight, compact motor that powers it and viewing the large storage space in the trunk and the “frunk” — since the motor is nestled under the car’s mid-carriage where it is situated to ensure the car’s balanced weight.

Purchase of the Lucid Air is accomplished online and, once the backlog is cleared of reservations from people who ordered their cars before Lucid’s factory in Casa Grande was completed, production time on new orders is approximately two months.

Addressing supply chain concerns, Witt says Lucid is pioneering electric vehicle supply chain in the state. “We’re bringing key suppliers to us.”

In fact, Arizona is enjoying significant growth in this industry sector.

In September, KORE Power, Inc. and Zero Electric Vehicles, Inc., two leading U.S. clean energy innovators who are both based here in the Valley, announced they would be working together to design, develop and manufacture low-cost, highly configurable electric vehicle solutions that accelerate electrification of the transportation sector.

KORE is a U.S.-based manufacturer of high-energy-density lithium-ion pouch cells and module configurations for the electric vehicle and energy sector applications. ZEV is also a U.S.-based manufacturer of electric powertrain solutions for fleet customers with a commercially available low-cost, fast-turnaround configuration for light-to-medium duty fleet vehicles. ZEV is rapidly innovating EV thermal technologies including an advanced battery cell passive thermal management system that will deliver power conservation and optimize battery cell performance.

“This is a partnership for advancing clean transportation,” says Lindsay Gorrill, KORE CEO. “KORE and ZEV bring new levels of ingenuity to the electric vehicle space. Working together at our facilities in Arizona, we’ll make the U.S. a launchpad to deliver safe, reliable and affordable electrification to the world with price parity.”

KORE korepower.com Lucid Motors lucidmotors.com

Photos courtesy of Lucid Motors

Polestar Scottsdale https://bit.ly/polestar-scottsdale Tesla tesla.com Zero Electric Vehicles, Inc. zeroevcorp.com

Electric vehicle plants are driving tens of billions of dollars in investments as both traditional automakers and upstart companies race to deliver electric vehicles to the masses to compete with Tesla’s dominance of the market, according to the monthly national industrial report from CommercialEdge looking at the US industrial market’s performance through September 2021.commercialedge.com/blog/national-industrial-report

As the first greenfield, dedicated electric vehicle factory in North America, Lucid’s innovative AMP-1 in Casa Grande, Ariz., was designed with a future-ready focus that allows for additional phases of expansion at the site, including production of the brand’s first SUV under the name Project Gravity in 2023. The second phase of expansion is already underway, which will add 2.7 million square feet.

In its final form, AMP-1 will be 5.1 million square feet with a manufacturing capacity of up to 365,000 units per year.

And as this November edition goes to press, Lucid Group announces the initial customer deliveries of the Dream Edition launch versions of Lucid Air to the first group of Dream Edition reservation holders on October 30. lucidmotors.com

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INVESTING IN COMMUNITY

An Equitable Economy in a Post-Pandemic World FIND LOCAL, BLACK-OWNED BUSINESSES ON BLAX FRIDAY The State of Black Business Report highlighted, “The best way to help Blackowned businesses on an individual level, and by extension help more people begin to create a foundation of wealth, is to shop locally, take a personal approach and start doing it now.”

Shopping at local, Black-owned businesses puts money directly into the community. Names of businesses can be found on the Blax Friday website. blaxfriday.com gpec.org/services/ research-reports/2021state-of-black-business

Business and nonprofit collaboration is key to an inclusive and opportunity-driven Arizona

by Carla Vargas Jasa and Chris Camacho

What does an equitable economy look like in a post-pandemic world? The nonprofit sector, in partnership with businesses and many other sectors of the modern economy, is digging deep to determine how to answer this complex question.

An inclusive and equitable economy is possible only if representation allows all groups to be the drivers of the conversation. This is critical in Arizona, where the Hispanic population is now the majority in Phoenix, according to data released by the U.S. Census Bureau showing 42.6% of the population of the city of Phoenix identify as Hispanic or Latino.

Similarly, Black/African Americans have the fastest growth rate by percentage of any demographic, growing by 33% since 2010, compared to a statewide growth of 13%.

In March 2021, The State of Black Arizona, in collaboration with the Greater Phoenix Economic Council and numerous community organizations, created the inaugural State of Black Business Report to begin filling in the knowledge gap about Arizona’s diverse economy.

Many themes are highlighted in the report, including the importance of ensuring the future workforce has the skills and credentials needed to seize new opportunities and the importance of removing racial and income barriers so entrepreneurs and small businesses can access critical resources to thrive and grow.

BRIDGING THE SKILLS GAP TO SPUR FUTURE OPPORTUNITIES Carla Vargas Jasa is president and chief executive officer of Valley of the Sun United Way, which serves the more than 4.3 million people of Maricopa County and is among the largest United Way organizations in the nation. vsuw.org Chris Camacho is president and chief executive officer of the Greater Phoenix Economic Council, the regional economic development organization actively working to attract and grow quality businesses and advocate for the competitiveness of Greater Phoenix. gpec.org

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Research shows that skills training and educational attainment is highly correlated with income level. Therefore, educational advancement can have profound and multigenerational impacts on financial stability. Further complicating this issue is the interconnectedness of lower education rates, inequality and poverty, which can create a pattern of lost opportunity for even the most talented students who live in zip codes lacking in resources. This is described by economists as the “lost Einstein” effect.

Members of our business and education communities, policy makers and the nonprofit sector recognize that social issues affecting our community are interrelated. Together, we are joining forces to achieve bold goals outlined in MC2026, Valley of the Sun United Way’s new five-year strategy to address interrelated issues in the areas of housing and homelessness, health, education and workforce development, and are creating “coalitions” of partners to maximize collaboration to collectively achieve the MC2026 goals.

BREAKING DOWN BARRIERS IN BUSINESS

A sharp pivot to an inclusive economic growth model where all Arizonans can achieve upward mobility and intergenerational wealth will be required for local communities

to increase economic development and tap into the power of innovation of entrepreneurialism. Unfortunately, many barriers still exist that can impede this growth.

The State of Black Business Report noted that, nationally, “an estimated 41% of Black-owned businesses closed between February and April 2020, compared to 22% of all businesses.

Black-owned businesses were especially vulnerable to pandemic effects because they typically had less cash reserves and were more likely to be in an area with high COVID-19 infection rates. Additionally, weaker relationships with banks meant that Black-owned businesses were less likely to obtain federal Paycheck Protection Program (PPP) loans.”

Leaders of nonprofits know that technological and organizational innovations that were accelerated during the pandemic will continue, which, if capitalized, can bring new opportunities for students, business owners and those seeking better-paying employment in local industries.

For all members of the community, including educators and nonprofits, to benefit from these new opportunities, it is imperative that nonprofit, public, private and civic leadership work collaboratively and with intention, to ensure that opportunity-driven market forces become a catalyst for shortand long-term equitable growth that will, ultimately, lead to a better future for Arizona.

Phoenix Public Library Foundation and Phoenix Union High School District collaborate to provide the College Peer Influencers Program, which provides students from four high schools with stipends to mentor and assist other students with the Free Application for Federal Student Aid enrollment. This process opens the door for youth to access post-secondary education that can lead to a living wage and a higher level of future financial security.

WE VALUE WHAT WE OWN

2022 Genesis GV70 SUV

The first-ever GV70 performance SUV was born to impress.

Here to satisfy consumers’ cravings, needs and wants with dynamic class-leading performance, athletic styling and advanced technology, GV70 declares the wait is over and the want is on.

The GV70 needs to do more than other SUVs. Delivering an experience revolving around the driver, the standard AWD system helps to enhance on-road confidence. With classleading standard horsepower and an available 375-hp, 3.5-liter twin-turbo engine, both power plants make this SUV a true Sport Utility Vehicle. Creating a vehicle is one thing. But to get the most out of it, everything needs to work in harmony. Every

line, shape and material, both inside and out of the GV70, have been carefully crafted, honed and perfected, resulting in a stunning design.

The GV70 exterior plays host to sophisticated cameras, radar and ultrasonic sensors used to make everything from Smart Cruise Control with Stop & Go to available Remote Smart Parking Assist function with the simple press of a button.

On the inside, a segment-leading 14.5-inch HD screen uses Connected Routing to simplify navigation. Further enhancing every drive, the available 12.3-inch 3D Digital Gauge Cluster offers readouts that provide dimensionality and added depth for easy readability.

Owners can create a personal connection with their GV70 and start its engine with a quick tap on the industryfirst fingerprint reader, when equipped with the available Genesis Digital Key. Once experienced, all other vehicle-start procedures will feel outdated. Drivers can monitor the world around them with the standard suite of advanced safety technology in the GV70. A network of sensors can process data in real time to help mitigate collisions, accidental lane departures and more.

—Mike Hunter

2022 GENESIS GV70 SUV MSRP: $41,000 City: 22 mpg Hwy: 28 mpg Trans: 8-speed automatic 0-60: 4.9 sec

Genesis genesis.com/us

Workspace, InnerSpace an app, enabling business with business continuity. This includes

employees to the workplace. In order to return, companies

using WiFi to identify direct and indirect contact or no contact,

must improve their cleaning practices, ensure social distancing

arming employees with information about their risk.

is possible, and put employee safety first while also balancing

measurement and responsiveness will be the differentiating factor

existing WiFi makes it easy to deploy in all buildings. And,

to success.

because no one has to download an app, the program starts

InnerSpace is a key enabler in helping businesses return to the Photos courtesy of Genesis

office, offering:

Principal and PADT

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Scalability – Solutions need to be easy to roll out. Using

INBUSINESSPHX

to ensure people can work safely and that policies are being followed.

Editor

Eric Miller Co-Owner

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with no proven guidebook to follow, the common thread is that

distancing, identifies high-risk areas, and helps inform people traffic

Our Ongoing

Guest This Month’s

2021

InnerSpace, an indoor location platform, hears from its Fortune

Housing: Issue

Measurement – There’s no rulebook, so monitoring and measurement is critical. InnerSpace measures density and social

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NOV. 2021

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direct and indirect transmission instances without downloading MAGAZINE

Safety – InnerSpace provides contact tracing to help track

apps, COVID-19 has business leaders scrambling to implement

IN BUSINESS

From symptom surveys to cubicles to cleaning protocols to new

for the Prepare NOW Crisis Next Global s Electric Vehicle y Econom Charging Our $7.95 INBUSINESSPH

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THIS ISSUE

of Women National Association – Phoenix Business Owners

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

working instantly. —James Wu, founder and CEO of InnerSpace (innerspace.io)

Genesis Concierge. The easiest and newest way to shop for a vehicle, Genesis Concierge is a Genesis Cares program offering complimentary personal shopping services. Prospective owners can connect with a concierge to ask questions, book a test drive, request information or even check inventory. Whatever the need.

45 NOV. 2021 INBUSINESSPHX.COM

MEALS THAT MATTER

PASTA AL POMODORO Chef Conant’s signature dish: spaghetti, Pomodoro sauce, grated ParmigianoReggiano cheese $22

Salt-baked sunchoke, charred radish and currants with caperpignoli vinaigrette $33

MARGHERITA PIZZA Fior di latte, tomato, basil and burrata $18

Scott Conant is the chef and owner of Mora Italian in Phoenix, The Americano in Scottsdale and Cellaio in the Catskills of upstate New York. The James Beard Award-Winning chef and TV personality is a longtime judge on Food Network’s “Chopped” and frequent cohost on “Beat Bobby Flay.”

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Inspired by Italy’s neighborhood eateries

by Scott Conant

Power lunch moves to evening …

One of the cornerstones of my career has been the belief that a table surrounded by good friends and a spread of soulful food makes for a great gathering. This, along with the desire to bring elevated Italian cuisine to the Valley, was one of the driving forces behind the creation of Mora Italian in Phoenix.

Mora is a modern osteria with a contemporary design inspired by the neighborhood eateries found throughout Italy, intentionally blending a stylish and tailored aesthetic with a relaxed setting focused on communal dining. The restaurant has an expansive dining room, beautiful bar and street-side patio for al fresco dining — creating a dynamic environment to catch up with friends and family.

We approach Italian cooking thoughtfully by reimagining classics such as rich polenta with mixed mushrooms and truffle while introducing innovative dishes like black campanelle pasta with clams, calamari, marinated shrimp and basil breadcrumbs.

Throughout the pandemic, we have pared down the menu due to supply chain issues that are affecting every industry right now — which, in turn, has allowed us to showcase the most-loved dishes at Mora. This time has given us the opportunity to be creative and revamp our offerings. One of our new programs is Giro d’Mora, or “Tour of Mora” in Italian, a friends-style tasting menu that’s meant to be shared by the whole table. The five-course meal features our greatest hits, including the seared octopus, pasta trio and, of course, an incredible dessert like bomboloni. People can experience Mora

in a new way, and since the menu is on a seasonal rotation, there’s always a new item to indulge in. There’s something festive about discovering a dish and passing it along to someone else at the table to taste and sharing that same experience.

Beyond convivial dining, our first-ever happy hour program was recently launched as another way to reconnect with friends in a vibrant atmosphere, including all-day happy hour on Sundays. We also started an over-the-top dessert program called “Sundae Fundae” — a table-side dessert cart that rolls though the restaurant and comes with every topping and candy imaginable so patrons can customize their own sundae. Kids obviously love it, but it’s been great to see how much it resonates with adults as well. After an exceptionally challenging last year and a half, I think we’re all in need of some childhood nostalgia, and this has been a lighthearted way to provide that to patrons while encouraging them to make new memories alongside their children.

At our core, that’s precisely what Mora is all about — meals and memories. Our goal is for guests to leave happier than they were when they arrived. Food has a unique ability to connect us; what we do remarkably well at Mora is setting the tone for that with generous hospitality and crave-able Italian cooking.

Mora Italian 5651 N. 7th Street, Phoenix (602) 795-9943 moraitalian.com Open Tuesday through Sunday from 4 p.m. to 9 p.m.

Focusing on the foods Chef Conant grew up with and the ones he makes for his loved ones today, recently released “Peace, Love, and Pasta” compiles simple, fresh and flavorful Italian recipes for the home cook to bring to their own family’s table in his most personal cookbook yet. $35

Photos courtesy of Mora Italian

SEARED DIVER SCALLOPS

Mora Italian: Convivial Dining Destination

CELEBRATING OVER 30 YEARS OF SERVING THE WOMEN BUSINESS OWNERS OF PHOENIX

Winter 2021 • nawbophx.org

From the President’s Perch …

Rebranding Creates Stress but Totally Worth It in the End

For those of you who have indulged in branding, you know how tough this process is. We just finished a photo shoot that was highly stylized. You will see it on these pages. We all are wearing black with white button-down shirts and red shoes. It represents a shot of unity. And yet, each of us has our own spin on how we put this look together.

We used knoodle. Full disclosure: This is my company. We donated the photo shoot so we could hire a veteran photographer in Paul Markow. Creative Director Ivan Galaz directed the shoot.

Together, we took shot after shot following the path set forth by the vision board. This whole process reminded me of how difficult rebrands are.

Not everyone was able to make it. Some didn’t care for the concept. Some were out of town.

But in the end, the majority of board members turned out and had a great time, pretending to be models. The studio had a look of a Hollywood set, complete with music, fans (so that our hair could blow in the wind) and professional hair and makeup. Mary Reid, the makeup artist, has worked with models and superstars all over the world. And she did make us be our best self — that, and a little photo retouching!

This year, the idea is to be relevant for business women of all types. This includes women who own every size of business, who want a voice locally and nationally, love to meet other women, build contacts, find new friends and have a clear connection to what goes on in Washington, D.C.

Lessons Learned over the Years Regarding Rebrands:

ABOUT NAWBO

• Never do marketing by committee. Leave it to the one person who is responsible, to avoid a homogenized vision of mediocrity.

• Start with a clear vision and strategy by those you most want to reach. It will serve as the foundation for all that you do.

• Brand everything using the positioning that you have chosen, a strong logo and a common color palette.

• Develop the brand with a strong voice that is consistent through every medium.

• Be strong. Throw all materials away with previous logos, branding and all leftovers. Past brands should remain unseen to prevent confusion. This is the hardest for businesses to achieve because we all hate to throw away the things we have spent money on.

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.

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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 nawbophx.org and join us!

Take advantage of this great opportunity to connect — we can’t wait to see you there!

Rosaria Cain

NAWBO Phoenix President Rosaria Cain founded knoodle, a public relations and marketing firm, in 1999, with her very first client, Fulton Homes, after 20 years in television, radio and newspaper. Her company is ranked among the top advertising agencies in the Phoenix Metro area and brands clients clients such as Sante’ Health, Cal AM, Red Development, and Prestige Cleaners, She still works with Fulton Homes today.

For more infomation, visit www.nawbophx.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

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NAWBO NEWS

Ask the Sales Trainer …

Squeamish about Salesy Dear Tish, I don’t want to make sales calls because I don’t want to come off salesy.

From Squeamish salesperson Dear Squeamish, I believe “salesy” is a mindset. What I mean is that your fear, your experience, or your expectation may cause you to believe that others will perceive you as insincere and/or aggressive when you are presenting your products or services.

Instead of creating the connections, you should be cultivating the things you say to yourself, such as, “I don’t want to call them back because I don’t want to bug them, I don’t want to seem sleezy, etc.” Therefore, YOU DO NOTHING and you suffer, which means your business suffers, and then you consider yourself a failure.

Here are three things to do that will improve your sales mindset: Stop trying to predict what they are going to say, how they’re going to respond and if they’re going to accept or reject what you have to offer. When you make these predictions, you won’t even initiate the conversation because you will have determined all that before one question has even been asked.

Think differently. What if you acknowledge the fact that you have the solution? You have the ability to solve a problem for the people that you are working with and for the people with whom you desire to work.

Keep your eyes open for buying signals. Someone might be giving you buying signals and, because you’ve determined that you don’t want to bother them — you don’t want to be salesy — you’ll miss the buying signals and thereby miss the opportunity.

If, for instance, someone says, “I love the necklace you are wearing,” and you just happen to make jewelry, you miss the opportunity when you don’t say, “Oh, I made this. I have a business and I am a jewelry designer.”

They’ve already given you a buying signal. They’ve already told you that they’re interested in what you have to offer. I am not recommending that you say, “Hey, I’d love to sell you one!” Instead, you’d say, “I actually make these. I create custom jewelry.” And the next thing they’re probably going to say is, “Oh, my God, do you have a business card? Do you have a website? Can I ask you a little bit more about what you do? I have a gift I’d like to buy. I’m looking for something for a special occasion.”

Respond in kind. You now have a conversation that’s very organic, that doesn’t feel salesy.

Think about it this way: There’s an elderly lady standing on the street corner, looking for someone to help her cross the street. She’s already on the street corner, she’s already decided that she wants to get across the street. Would you walk by that lady and say, “I don’t want to bother her,” or would you say, “Hi, ma’am. Can I help you cross the street?”

Once again, you didn’t go to her house, force her to come to the corner, and then beg her to get across the street. She’s already on the corner, she’s already looking for assistance to get across. Your job is to help her cross the street. In your business, your job is to help your prospective clients to cross the street, help them to achieve what they already desire, and just don’t know who can help them. YOU have the solution.

Remember, salesy is a mindset. Reject that mindset and embrace the fact that you’re there to help the people who need you the most.

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.

Looking to run a better business?

NAWBO Launches Mentoring Program

by Rosaria Cain

National Association has launched its mentoring program for current and aspiring business owners looking to increase general business knowledge. The program, run by seasoned entrepreneurs Ronit Urman and Suzi Glover, will take the select group of businesswomen in a program that teaches the fundamentals and pairs education with a support system.

The program runs from November to April and includes two sessions per month: one that

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NAWBO NEWS

surrounds education and the other serves as a facilitated mastermind session.

According to Urman, who co-chairs the mentoring program, this program offers “a combination of hands-on activities, guest speakers and coaching along with fundamentals needed to run a profitable business.”

NAWBO members receive a discounted rate for the program although it is open to everyone. In addition, scholarships are

also available. For more information, go to NAWBOMentoring.com for details and signup information.

Unexpected Gifts in the Ugliest Giftwrap A business coach’s perspective on surviving and thriving through coronavirus

by Madeleine MacRae

Over the past 20 months, small business owners and entrepreneurs have been on an ever-changing roller coaster ride of emotions, obstacles, victories and defeats. Some business owners’ tracks have run in parallel while others have sharply turned in a completely contrasting direction, but one factor remains true: As we continue to deal with all of the aspects of the Coronavirus, the pandemic has forced us to up our game.

From businesses that saw their primary revenue streams evaporate overnight, to those who had the ability and agility to pivot, and even to those who faced an overwhelming surge in demand, the coronavirus — despite all its hardships and sorrows and challenges — had made each and every one of us dig deep and tap into resilience and acceptance and excellence.

As I’ve seen as I coach business owners around the country, these are challenging times to navigate. For those who were able to weather the first hard hit during the early stages of the pandemic, that initial onslaught with its fear and uncertainty wasn’t even the hardest part.

The disruption in business and in the lives of business owners is ongoing with long-lingering impacts that are taking their toll.

Midway through the year, as reconnection and the closure of this year were feeling within sight, the Delta variant swept in with a new wave of loss and limitations that took the already stressed and frayed nerves of so many business owners, employees and their customers into hyperdrive.

And women are among the hardest hit. Not only are business owners dealing with a dramatic shift in the ecosystems of their home lives, but they are also having to interphase with team members who are fatigued and frustrated and to serve consumers who are increasingly hostile and controlling.

Who would have ever imagined that in the developed, privileged age of 2020 and 2021, grocery store sprawls would become a commonality?

What is it that is bringing out all of these difficult-to-manage emotions and situations in our private lives, our public spaces and our businesses?

The higher the level of uncertainty that people face, the more they look for and cling to what they believe they can control, in healthy or unhealthy ways. Their goal is not to seek an outcome; their goal is to create a predictable next action to counterbalance the lack of control they feel in their world at large. The longer uncertainty lingers, the more controlling people become. As they look for an outlet where they can find certainty in some way, shape or form, people start to extend their sphere of control

nawbophx.org

beyond themselves into the spaces and the places occupied by others.

They look to quell their inner angst by forcing exterior conformity to what they believe should happen next.

What this has meant for business owners is that, as the hope of reprieve from the pandemic restrictions and fears was dashed, they had a surge in employee issues and angry customers. Men and women who would, under usual circumstances, be easy to work with became intolerant of even the slightest disappointments or delays. It forced our hands to up our management game — the management of our inner game, the management of our teams, and the management of the expectations of our customers.

It also forced us not to give in to our weaker inclinations and devolve into micromanagement. We, too, are stressed and fatigued and are ready to be able to celebrate the formal end of pandemic status but, as business owners, we have been called to more. We have the privilege of setting the tone in our team, of being a good example of keeping your cool and digging deeper. It has forced any of us who used to allow ourselves the latitude to not take the higher road every now and then to get up there and to stay up there, to be the bigger person and to become the more resilient soul.

For those who are open to finding the good even in the worst and most stressful situations, there has been the gift of growth available to us in this COVID-19 era.

Let’s embrace the challenge. Let’s, as a community of women business owners, continue to step forward and live congruently to how we would want to be remembered in this moment, as the ones who responded to the stress, and loss and fear, with poise and gratitude and hope. Let’s continue to rise up from this as the Phoenix that’s within each and every one of us!

Madeleine MacRae is a business and leadership coach who focuses on bringing her clients thought-provoking, practical, usable content that accelerates their implementation and secures their long- and short-term results. She loves the grit and determination of small to mid-sized business owners and has dedicated her career to helping them and their teams. mmmacrae.com

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NAWBO NEWS

Your Voice in D.C.

Arizona Women Business Owners Need to Get Involved in Public Policy

by Sindi Major-Martinez, NAWBO Phoenix Public Policy Chair

It is important that women business owners have their voices heard in Washington, D.C., and here in Arizona. According to the U.S. Senate Committee on Small Business and Entrepreneurship, “Women-led small businesses help boost economic growth and create jobs. There are more than 11.3 million women-owned businesses in America — representing 38 percent of all firms and growing at five times the national average. This dramatic growth is encouraging but happening despite institutional barriers facing women entrepreneurs, including a tax code that bypasses industries in which women-owned firms have flourished and a funding gap estimated at $300 billion for femaleowned small businesses worldwide.”

In Arizona, we encourage women business owners to join NAWBO and our Public Policy Committee. What are the pressing issues facing women owned businesses in Arizona and nationwide? Below is NAWBO’s 20212022 advocacy agenda.

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NAWBO NEWS

NAWBO’s advocacy agenda focuses on the following five items: 1. Speaking to the Microbusiness, Reinvigorating, and Encouraging the Emerging Entrepreneur Based on data from the U.S. Census Bureau, there were 6.1 million employer firms in the U.S. in 2018 (latest data). Of those firms, 78.4% have fewer than 10 employees. The SBA defines small business as firms with 500 or fewer employees which make up 99.7 percent of all firms in the U.S. NAWBO is advocating for a change in the SBA definition of small business.

2. Accessing Capital The Paycheck Protection Program (PPP) and the Economic Injury Disaster (EIDL) Loan and Emergency EIDL grant programs provided access to much-needed capital for business owners while also highlighting critical areas of much-needed improvement for women. The proportion by

which women and minority business owners received funding during the pandemic underscored their constant struggle to access capital. NAWBO is asking lawmakers to make fundamental changes to ensure women’s inclusion in traditional avenues and other outlets such as venture capital.

The following bills related to access to capital have passed the House and are now being considered by the Senate Small Business Committee: • H. R. 1482: To amend the Small Business Act to enhance the Office of Credit Risk Management, to require the Administrator of the Small Business Administration to issue rules relating to environmental obligations of certified development companies, and for other purposes.

• H. R. 1487: To amend the Small Business Act to increase transparency, and for other purposes.

• H. R. 1490: To amend the Small Business Investment Act of 1958 to improve the loan guaranty program, enhance the ability of small manufacturers to access affordable capital, and for other purposes.

H. R. 1502: To amend the Small Business Act to optimize the operations of the microloan program, lower costs for small business concerns and intermediary participants in the program, and for other purposes.

According to an announcement by the SBA Administrator, the SBA has “re-tooled” the Economic Injury Disaster Loan Program. Fundamental changes announced by the SBA include: • Increasing the COVID EIDL Cap. The SBA will lift the COVID EIDL cap from $500,000 to $2 million. Loan funds can be used for any normal operating expenses and working capital, including payroll, purchasing equipment and paying debt.

• Implementation of a Deferred Payment Period. The SBA will ensure small-business owners will not have to begin COVID EIDL repayment until two years after loan origination.

• Establishment of a 30-Day Exclusivity Window. To ensure Main Street businesses have additional time to access these funds, the SBA will implement a 30-day exclusivity window of approving and disbursing funds for loans of $500,000 or less.

• Expansion of Eligible Use of Funds. COVID EIDL funds will now be eligible to prepay commercial debt and make payments on federal business debt.

• Simplification of affiliation requirements. To ease the COVID EIDL application process for small businesses, the SBA has established more simplified affiliation requirements to model the Restaurant Revitalization Fund.

SBA believes these enhancements to the COVID EIDL program will allow more businesses greater and more flexible support from the more than $150 billion in available COVID EIDL funds.

3. Breaking the Middle Barrier Many WBOs struggle to break the barrier between $350,000 in revenue to more than a million dollars in revenue. NAWBO believes our nation must work to advance these women business owners.

Recently, the House Small Business Committee approved $25 billion in funding for small-business programs. The legislation heads to the House Budget Committee for inclusion in the reconciliation package: • $35 million in funding for veteran federal procurement entrepreneurship training;

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• $1 billion in funding for an uplift accelerator program and business development academy at Historically Black Colleges and Universities (HBCUs) and Minority Serving Institutions (MSIs) for underrepresented small businesses; • Provides $1 billion to establish a national network of business incubators; • $20 million to enhance the SBA’s Office of Native American Affairs; • $9.5 billion to establish a subprogram within the Small Business Investment Company program to provide patient capital to underserved markets and small manufacturers; • $600 million to enhance, improve, and expand the SBA’s Community Advantage program; and • $4.465 billion to fund a direct loan product under the current 7(a) lending program administered by the SBA. 4. Utilizing and Receiving Technology The COVID-19 crisis underscored the great need for innovative technology and infrastructure for the changing workplace: • Accessing reliable, affordable broadband; • Utilizing the digital footprint; and • Learning to market online.

5. Caring for the Business Owner and Caretaking Flexibilities for the Employee More than ever, our nation understands the need for a sound healthcare system and acknowledges a concerted effort is needed to address healthcare of business owners and their employees: • Creating affordable healthcare options, • Understanding the importance of our well-being, • Prioritizing our nation’s caretakers and • Educating on business succession-planning and retirement. Part of business succession and retirement is Estate Taxes. Recently, NAWBO joined other organizations on a letter to House Ways and Means Committee to continue a stepped-up basis, which prevents family-owned businesses and farms from being hit by the capital gains tax on any appreciated assets and the estate tax on whatever is left when a family member passes away. This is in response to one section of the American Families Plan, which proposed making death a taxable event.

If you are interested in joining NAWBO Phoenix’s Public Policy Committee, reach them through www.nawbo.org/phoenix.

Sindi Major-Martinez is an accomplished business and technology executive with more than 30 years of experience working with organizations in the private and public sectors. She has worked for large organizations in various leadership positions and has started two of her own award-winning technology managed services and consulting companies. Major-Martinez received her MBA from the W. P. Carey School of Business Executive Program at Arizona State University. xcelr8now.com

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NAWBO NEWS

Officers: President: Jean Briese President-Elect: Rosaria Cain Treasurer: Joy Cervantes Secretary: Dr. Nadia Brown Past-President: Angela Garmon Membership Chair: Kaitlyn Laney & Imelda Hartley Marketing Chair: Melanie Moscicki

5 Easy Ways to Protect Yourself in a Commercial Lease

by Karen Urman

The pandemic has created an influx of people looking into residential and commercial real estate investment.

Here are some useful tidbits as you look for a commercial lease: 1. Know your clauses. In most instances, a force majeure clause in a commercial lease allows for either a temporary delay or a complete excuse of certain landlord obligations and/or tenant obligations under the commercial lease due to an event beyond the control of the landlord and/or the tenant. Having this clause in your lease allows tenants to hold rent payments without being penalized or evicted.

2. Remember the occupancy clause. If the occupancy of the center goes below a certain percentage (that you negotiate), you may reduce your rent or you may have the ability to vacate with no penalty.

3. Choose a guarantee. Personal guarantors are always an extra layer of protection for the landlord, especially with a new business.

4. Learn about your CAM. Request the most recent year of CAM (common area maintenance), as the charges will be your base for the future. Don’t forget to negotiate; you can always apply a CAP to how much the CAM can be increased in the years to follow.

5. Discover your HVAC. Make sure it is clear who is responsible for equipment maintenance and what happens if it needs to be replaced, such as whose cost it would be. Prior to signing the lease, request a report of the unit’s condition, as it is common for tenants to put a CAP on how much per year they are willing to contribute to the maintenance/repairs of the HVAC unit.

URMAN is a property management, development and real-estate brokerage. We are a family-owned and -operated business of four generations and have been in the Valley for more than 30 years. It is fair to say we have seen many ups and downs and COVID was one of them. However, our experience has taught us that communication is key for success. Not just success for us; success for our clients, tenants and landlords (commercial and residential). urmanent.com

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NAWBO NEWS

Programming Chair: April Tinhorn Corporate Partners Co-Chair: Dee Daniels Corporate Partners Co-Chair: Ashley Ament Neighborhood NAWBOS Chair: Julie Cook Success Circles: Amanda Schneider

Corporate Partners: CopperPoint Insurance Company Salt River Project Modluxe Phoenix Business Journal In Business Magazine Karianne Mundstedt Photography Wells Fargo Financial Potion Commerce Bank of Arizona Website Design Plus

National Partners: Merrill Lynch Bank of America Chubb Southwest Airlines Wells Fargo

Excellence in Banking Community Banks & Credit Unions

Meet some of the Valley's top bankers and their financial institutions

FEATURING Arizona Federal Credit Union, Mike Thorell Enterprise Bank & Trust, Jeff Friesen First Western Trust, Trish Stark Metro Phoenix Bank, Amber Welch OneAZ Credit Union, Ken Bauer WaFd Bank, Todd Gerber

Excellence in Banking

Excellence in Banking Community Banks & Credit Unions

Meet some of the Valley's top bankers and their financial institutions

FEATURING Arizona Federal Credit Union, Mike Thorell Enterprise Bank & Trust, Jeff Friesen First Western Trust, Trish Stark Metro Phoenix Bank, Amber Welch OneAZ Credit Union, Ken Bauer WaFd Bank , Todd Gerber

Banking Matters to Business In Business Magazine is proud to present the “Excellence in Banking” special section showcasing top bankers and bank executives in the Valley. These top professionals work day in and day out with business owners to assist in ways that can only be classified as a true asset to business. We sought out professionals at community banks and credit unions with a strong local presence and hand-picked the following as examples of the incredible work that our banking community does, and in a financial climate that is mired in regulation and change.

Thanks go out to all the banks in metropolitan Phoenix, who responded to our request for suggestions and assistance in compiling this section and for working with us throughout the years on various articles and editorial so that our readership is in the know when it comes to banking business. We also thank the Arizona Bankers Association and Paul Hickman for their leadership and steadfast support of the banking community here. With technology and government regulation, banks are quickly adapting to change, and business truly benefits from their incredible work.

Banking: The Pillar of Community “Banks are the single most important component of Arizona’s economy. Not only do they lend to Arizonans, but they employ nearly 50,000 Arizonans, reinvesting in their communities and providing financial and social stability in their markets. Bankers educate young adults on the importance of financial responsibility. Bankers donate significant time and money to charities. Banks are, in many ways, the lifeblood of our neighborhoods and communities,” says the Arizona Bankers Association on its website.

Banking, like many other industries, faced special challenges due to the COVID-19 pandemic. Part of its response has been in an area that had already begun to gain interest: digital banking.

Accelerating Digital Banking Development As brick-and-mortar establishments had to severely limit their working hours during the lockdown, digital banking picked up the slack to accommodate the financial needs of people working from home. “These circumstances unveiled the true importance of taking a digitalfirst approach,” explains Agne Selemonaitė, deputy CEO at ConnectPay. “As the new wave of customers sieged the system, faster development of banking services took precedence.”

In the U.S. alone, more than 45% have changed the way they bank amidst the crisis and, based on a European customer survey by McKinsey, there has been a 20% increase in digital engagement levels in parallel with a significant decrease in the use of cash. According to Selemonaitė, this shift to online will remain even after COVID-19, further accelerating digital market development.

Retail Banking Remains Significant At the same time, as Scott Lewis, a seasoned banker recently named the regional director of banking for the Southwest Region at JPMorgan Chase, observes, “This is an exciting time in retail banking as branches remain critical to our customers and we continue to take an integrated physical and digital approach to banking.” —Mike Hunter Arizona Bankers Association azbankers.org ConnectPay connectpay.com JPMorgan Chase jpmorgan.com/global

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NOV. 2021

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Excellence in Banking

Mike Thorell

President of Commercial & Residential Lending, Arizona Federal Credit Union After graduating from the University of Arizona

After successfully revitalizing Pinnacle

with degrees in finance and real estate, Mike

Bank, Thorell led efforts to look for a suitable

Thorell began his career in banking in 1989 as a

merger or acquisition partner to gain the scale

special assets officer at a small savings and loan

the organization needed to continue to grow.

in Scottsdale, Arizona. He never really dreamed

This eventually resulted in the successful (and

of being a banker, but he needed a job after

historic) acquisition of Pinnacle Bank by Arizona

graduation! And to make things more challenging,

Federal Credit Union, which included branch

he started his banking career in the middle of the

locations, employees and systems. This was an

savings and loan crisis. But even with that bumpy

historic partnership because it was the first time

start, things turned out quite well.

in Arizona that a credit union and bank combined

Since 2019, Thorell has been the president

operations. But it has been a successful

of Commercial and Residential Lending for

collaboration, with Arizona Federal providing a

Arizona Federal Credit Union, where he provides

strong base of consumer banking services and

executive oversight for commercial, Small

Pinnacle Bank delivering expertise in the areas of

Business Administration (SBA) and residential

residential loan services, small business banking,

loan production and operations. He also works

SBA financing options and commercial lending.

with the board of directors and chief executive

Regarding the acquisition, Thorell says, “It was

officer to develop strategic profit and capital

a win-win. Shareholders of Pinnacle Bank won

adequacy plans to position the credit union to

and members of Arizona Federal won because

achieve future growth goals.

they get a business platform they didn’t have.

Although he really wanted to be a professional

And former clients of Pinnacle Bank now have

baseball player (and even played in college),

access to all the systems that Arizona Federal

over the last 32 years Thorell has had a highly

offers under one umbrella.”

successful career in banking. In 2003, he helped

Arizona Federal employs 525 employees

organize Choice Bank, a small community bank

across the Valley, with about 100 employees

located in Scottsdale, and later went on to help

reporting through the residential and commercial

turn around the then-struggling Pinnacle Bank of

lending teams. Thorell believes that in pushing

Banker of Excellence: Mike Thorell

Arizona as chairman and CEO. At Pinnacle Bank,

his employees to continually learn and grow, he

Position: President of Commercial & Residential Lending

which had a strong presence in small business

brings out the best in them and strengthens the

banking services and residential lending, he

organization at the same time.

About

Company Name: Arizona Federal Credit Union Main Local Office Address: 333 N. 44th St., Phoenix, AZ 85008

oversaw all business functions and strategic

For more than 22 years, Thorell has been

initiatives. Thorell also served as chairman

involved with the Boys & Girls Club of Greater

and CEO of PB Financial Holdings, the bank’s

Scottsdale, where he’s served as chairman of the

holding company.

board and is a Life Governor of the Club.

Phone: (602) 683-1000 Website: www.arizonafederal.org Number of Offices in Metro Phoenix: 14 Year Established Locally: 1936 Headquartered: Phoenix No. of Years with Firm: 13 (2 with Arizona Federal, 11 with Pinnacle Bank) Industry Expertise: Commercial Lending, SBA Lending, Residential Lending, Corporate Leadership, Strategic Planning

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NOV. 2021

INBUSINESSPHX.COM

Excellence in Banking

Trish Stark

Managing Director, First Western Trust First Western Trust believes every client is

— and the chief executive office engaged Stark

unique. Since 2002, we’ve used a team approach

to help address some of their personal banking

to build a customized plan to clients’ banking,

needs. The relationship with the hospital also

wealth management, lending and investment

deepened when Stark worked with the human

management goals. Through a branded network

resources director to identify a need and

of private boutique offices, we deliver the

connected him with First Western’s Retirement

sophistication of a large financial institution

Services team. The work on that deal allowed

along with the personalization of a private bank

the director to entrust First Western with some

to best serve our clients’ needs.

fiduciary responsibilities, providing him with

Trish Stark is managing director for First

peace of mind and compliance assurance, and

Western Trust’s Scottsdale, Ariz., office, a

freeing him to focus on other areas. Where

private boutique that provides personalized

others might have seen only a problem, Stark

service and unique solutions to Western wealth-

saw a solution. Her innate ability to problem-

management clients. She believes in building

solve, see what mattered most to the client and

deep-rooted relationships and understands the

build the right team demonstrated her incredible

full lifecycle of a business and the busy life of

client focus.

business owners. Stark works to understand

Stark knows that business owners want

what matters most to clients. Responsiveness

clear, direct communication and options. When

is one of her most valued qualities layered with

that’s not possible, they value her as a trusted

her knowledge about finance and business.

advisor who will refer them to someone who can

She bundles those attributes to build the

meet their needs. It is one of the many reasons

right team and gathers the right resources to

clients contact her or send referrals to her.

solve her clients’ business issues and related

She sees opportunities and works to create or

personal issues. This superpower stems from her

improve a situation. Her team-oriented approach

sincere interest in helping clients achieve their

allows her to structure and design solutions

professional and personal goals. The solutions

that deliver the best possible results for her

she creates alleviate her clients’ pain points.

clients. Her unyielding commitment, business

In 2020, she was referred to a local hospital in

acumen and work ethic allow her to exceed

need of a Main Street loan, a program established

client expectations time and time again. She is

to provide economic support in response to

definitely the right person in the right seat.

About

the COVID-19 pandemic. She connected the

Banker of Excellence: Trish Stark

hospital to a senior lender and worked with

Position: Managing Director

both the client and lender over a six-month

Company Name: First Western Trust

period. The overall process, ensuring all the

Main Local Office Address: 7025 N. Scottsdale Rd., Scottsdale, AZ 85250

due diligence requirements remained on track, and underwriting the loan proved to be highly demanding. Simultaneously, Stark’s team had to educate themselves on the Small Business

Phone: (480) 596-1800

Administration’s program requirements. Despite

Website: www.myfw.com

the daunting process, the payoff was huge. The

Number of Offices in Metro Phoenix: 2

loan was approved. The client was extremely

Year Established Locally: 2008

happy with the end result.

Headquartered: Denver, CO

If asked about that particular deal, Stark would say making a difference and helping

No. of Years with Firm: 14

the hospital achieve its objectives was what

Industry Expertise: Commercial Banking; Business Accounts; SBA Lending, etc.

mattered most. Approval of that Main Street loan positively affected the hospital’s ability to care for its patients.

For her efforts, both the chairman of the board — who was also the owner of the hospital

ADVERTISING PROFILE

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NOV. 2021

57

Excellence in Banking

Jeff Friesen

Southwest Region President, Enterprise Bank & Trust Jeff Friesen is the Southwest Region president

and invest to advance the quality of life for the

for Enterprise Bank & Trust. In this expanded role,

communities we serve.

Friesen is responsible for Arizona; Albuquerque,

relationships and offers a range of business and

Vegas. He is responsible for overseeing current

personal banking services, wealth management

clients’ business and personal banking needs and

services and a variety of specialized banking

generating new commercial loan relationships.

services. Our specialized expertise spans a

Friesen is also responsible for commercial and

variety of niche areas that other banks don’t

industrial and commercial real estate lending,

have, including aircraft financing, sponsor

as well as overseeing tax credit financing in the

finance, tax credit services, life insurance

region, which includes new markets tax credits,

premium finance, professional practice finance

low-income housing tax credits, opportunity

and property management, among others. Our

zones and historical tax credits.

SBA Lending division is the No. 9 most active SBA

He was formerly president of the Arizona

About Banker of Excellence: Jeff Friesen Position: President, Southwest Region Company Name: Enterprise Bank & Trust Main Local Office Address: 3900 E. Camelback Rd., Phoenix, AZ 85018 Phone: (602) 824-5744 Website: www.enterprisebank.com Number of Offices in Metro Phoenix: 2 Year Established Locally: 2009 Headquartered: Clayton, MO No. of Years with Firm: 10 Industry Expertise: C&I and CRE Lending; Tax Credit Finance, including New Market Tax Credits, Opportunity Zones, Historical Tax Credit

Enterprise is built on trusted, personal

N.M.; and Enterprise’s growing presence in Las

7(a) lender in the nation.

market for Enterprise. Friesen has been with

We are committed to supporting communities

Enterprise for 10 years and has more than 25

we serve in our current markets of St. Louis, Kansas

years of commercial lending experience. He

City, Phoenix, Las Vegas, New Mexico and Southern

currently serves as a board member for Child

California by investing in regional economic

Crisis Arizona and as the organization’s chairman

development initiatives and by continuing to offer

of the Finance and Internal Affairs Committee.

educational opportunities such as Enterprise

Friesen also volunteers on the Credit Committee

University, our highly acclaimed business education

for CDC Small Business Finance.

program available to anyone at no cost. Since its

Enterprise is a growing financial services

inception, Enterprise University has helped more

partner focused on guiding people to a lifetime

than 30,000 professionals improve their business

of financial success. Our activities fall into

and leadership skills. Enterprise University offers

three main categories, all related to growth. We

new course lineups every spring and fall and

empower privately held businesses to succeed,

also offers on-demand courses. Learn more at

help families to secure their financial futures,

enterprisebank.com/eu. Member FDIC.

© Enterprise 2018

NATIONALLY RANKED.

LOCALLY FOCUSED.

Enterprise Bank & Trust was recently ranked number 14 out of 161 nationally-ranked banks1. And while we’re proud of that fact, it’s just part of who we are. Whether your focus is on your business, your family or the quality of life in your community, you’ll find us there. We’re committed to supporting dreams, securing financial futures and delivering on community investment.

Learn more at enterprisebank.com/phoenix

Member FDIC 1. Bank Director, 3rd Quarter 2017, Volume 27, Number 3 INBUSINESSPHX.COM

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NOV. 2021

59

Excellence in Banking

Amber Welch

VP, Senior Business Development Officer/ Sales Manager, Metro Phoenix Bank Metro Phoenix Bank (MPB) is celebrating its 14th anniversary serving the Phoenix business

services in the State of Arizona. Services include: •

community and has, along the way, achieved

A custom and innovative property management platform,

several notable awards. According to S&P

•

Local lockbox processing,

Global Market Intelligence, based on 2020

•

Merchant capture and

data, Metro Phoenix Bank ranked in the top

•

Accounting Integration Solutions.

1% of community banks and thrifts under $3 billion in assets (ranking 30th among 4,287

depository segment at MPB. Welch’s success

DepositAccounts.com ranked MPB 56th among

stems from her drive to excel, which is balanced

4,137 U.S. banks analyzed, and MPB continues to

with professionalism and a bit of spunk. She

maintain its longstanding 5-star BauerFinancial

has spent a decade building relationships with

rating, an award for top-performing banks.

industry professionals and trade organizations

These accomplishments illustrate the hard work,

and enhancing the MPB customer experience.

determination and resiliency demonstrated by

Welch also remains well-connected within the

an exceptional staff, a committed management

HOA community through volunteer efforts.

team and an engaged local board of directors.

The Community Association Institute (Arizona

However, one shining star among the MPB

Chapter) recognized Welch for her contributions

team is Amber Welch, VP and senior business

with the Rising Star and Hall of Fame Awards

development officer/sales manager.

programs. Her role at MPB has also expanded

Welch has been with MPB for 11 years and has

About

This business line also accounts for the largest

banks nationwide). Based on Q1 2021 data,

into mentoring sales staff, ensuring they have

been instrumental in the bank’s overall growth

the tools and know-how to exceed expectations

in high-quality core deposits. Before utilizing

— for customers and the bank. Welch graduated

her natural sales abilities and leadership skills,

with honors from Arizona State University,

Welch first focused on operations functions.

obtaining a bachelor’s degree with an emphasis

This allowed her to gain valuable insight and a

in business and communications.

more comprehensive understanding of banking

Steve Haggard, president and CEO of Metro

Banker of Excellence: Amber Welch

— ultimately better preparing her for her role

Phoenix Bank, had this to say: “Amber’s results-

Position: VP, Senior Business Development Officer/Sales Manager

with customers. Welch was actively involved

driven enthusiasm sets her apart. It’s no wonder

in the concept phase, strategic planning,

customers and employees alike enjoy working

implementation and the continued growth of

with her. The bank is currently in deposit-growth

the bank’s Homeowners Association (HOA)

mode with several new technological and sales

division. MPB merged into this space in 2009 and

initiatives underway. I have no doubt Amber will

is now the third-largest provider of HOA banking

be a key contributor in attaining our goals.”

Company Name: Metro Phoenix Bank Main Local Office Address: 4686 E. Van Buren St., Phoenix, AZ 85008 Phone: (602) 346-1800 Website: www.metrophoenixbank.com Number of Offices in Metro Phoenix: 1 Year Established Locally: 2007 Headquartered: Phoenix No. of Years with Firm: 11 Industry Expertise: Specialty Division Business Development, Build-Out of initial program, Train/Mentor new sales employees

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NOV. 2021

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Excellence in Banking

Ken Bauer

EVP Chief Lending Officer, OneAZ Credit Union Ken Bauer is OneAZ Credit Union’s executive vice

Bauer has been a business owner and

president and chief lending officer. Bauer is a

entrepreneur, having started and owned

veteran in the banking industry, with more than

several businesses himself. That experience

20 years of experience working with banking

as a business owner has been integral in his

institutions of all sizes. For the past six years, his

insistence that OneAZ be a partner to local

depth of knowledge has been focused on the credit

businesses and has helped him and his team

union movement. Two years ago, that shift toward

better understand the unique challenges and

credit unions brought him to Arizona and OneAZ.

opportunities faced by business owners.

Bauer oversees various lines of lending

The experienced commercial bankers under

production and fulfillment, including mortgages

Bauer’s leadership work hard to guide business

and commercial loans, as well as overseeing all

members into making decisions that are best

credit risk for OneAZ.

for their businesses. That may be helping

Loan production and fulfillment is one of the

them with treasury management services,

most important services for OneAZ’s 150,000

or providing them with business credit cards,

members and for the 10,000 local businesses

working capital or financing for equipment and

OneAZ partners with, as evidenced by the

commercial real estate. They also have expertise

placement of teams of mortgage and commercial

and insight into Arizona’s business community,

bankers throughout the State of Arizona. Bauer’s

which allows them to help businesses navigate

team manages consumer loans that range from

a terrain that is constantly shifting and raising

conventional home loans to jumbo mortgages,

new challenges for business owners. “Right now,

as well as business loans from $50,000 to as

most businesses are seeing tremendous demand

high as $25 million. Those services make dreams

for their products and the biggest challenge

of homeownership a reality for families and

they face is fulfilling that demand,” Bauer says.

help businesses thrive in an ever-changing

“OneAZ understands those challenges and the

economic landscape.

impact they’re having on our business partners.

For Bauer, what makes those services unique at OneAZ is the emphasis on forming bonds with members. “We put a tremendous focus

Because of that, we’re willing to be flexible and work with them to help them thrive.”

Looking ahead, Bauer aims to continue

About

on relationships with our borrowers,” says

strengthening the bonds between the credit

Bauer. “We are truly here to serve their needs

union and the business community. OneAZ

Banker of Excellence: Ken Bauer

and improve their lives.” Valuing a member’s

and Bauer believe that will result in a better

experience goes beyond simply providing

environment for all of Arizona. “We really believe

Position: EVP Chief Lending Officer

members with products or services. “Our loan

that our small and medium-sized businesses are

originators and business bankers guide members

the bedrock of Arizona’s economy,” he says. “And

to help them make the best decisions for their

our role is to support them with every resource

financial well-being or the prosperity of their

we have available.”

business,” Bauer says.

Company Name: OneAZ Credit Union Main Local Office Address: 2355 W. Pinnacle Peak Rd., Phoenix, AZ 85027 Phone: (602) 452-4874 Website: www.oneazcu.com Number of Offices in Metro Phoenix: 8 in Greater Phoenix; 20 Arizona locations Year Established Locally: 1951 Headquartered: Phoenix No. of Years with Firm: 2 Industry Expertise: Lending, Commercial Lending

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NOV. 2021

61

Excellence in Banking

Todd Gerber

VP, Commercial Division Manager, WaFd Bank While big and regional banks are centralizing

nonprofit, government and construction. His

services for mid-sized commercial customers,

team offers a speed to market which ensures

WaFd Bank is going against the trend and

clients their loan is renewed before the maturity

providing more localized services and bankers to

date. Gerber’s key to success is a personalized

commercial customers. Using a relationship-based

approach to a customer’s lending, deposit and

business model, WaFd Bank has found a solution

cash management needs. The WaFd Bank

that is built for business and produces the best

corporate structure allows bankers to make quick

results for customers across a range of industries.

decisions like a community bank, but it is big

WaFd Bank has been dedicated to growing

enough to compete with the money center banks

local representation in Arizona to better serve

on middle market clients. Gerber and the WaFd

the community. WaFd currently has 30 locations

Bank executive team have grown the Commercial

in Arizona, opening its first location in Tucson in

and Industrial division to an unprecedented

1994. It has seen great success in Arizona and

level by bringing in top talent in the industry and

exceptional growth. Since the opening of the

providing them with the tools to perform, leading

commercial banking center in Tucson in 2020,

to a 27% increase in revenue from 2019 to 2020

the team has grown to nine commercial bankers

and a 43% year-to-date increase as of June 2021.

in Metro Phoenix and Tucson who originated

Their investments in customer service, usability

more than $200 million in new loans in the last

and technology are translating into top-tier

12 months. While WaFd Bank offers a variety

customer satisfaction levels as their Net Promoter

of products and services, its commitment to

Score (NPS) is 51 and far above competitors.

personal service is unmatched in the industry. Its

Established in 1917, WaFd Bank provides

relationship-based approach to banking allows

consumer and commercial deposit accounts;

its team to analyze everyone’s unique financial

financing for small to middle-market businesses;

needs throughout their banking journey, starting

and commercial real estate and residential real

with the first time they walk through a branch

estate, including consumer mortgages, home

Banker of Excellence: Todd Gerber

door or visit the website.

equity lines of credit and insurance products

Position: VP, Commercial Division Manager

and industrial team by working closely with

Company Name: WaFd Bank

Arizona businesses and residents, helping limit

$19.6 billion in assets, $15.2 billion in deposits

About

Todd Gerber is leading the commercial

through a subsidiary.

As of June 30, 2021, the company reported

risk, maximize efficiencies and prepare for

and $2.2 billion in stockholders’ equity. With the

Main Local Office Address: 6720 N. Scottsdale Rd., Scottsdale, AZ 85253

the unexpected. With more than 27 years in

results of the last year, it is evident that having

banking, Gerber brings expertise in managing

the right people who are passionate about

business accounts in industries such as

what they do will lead to exceptional outcomes

Phone: (480) 607-4852

manufacturing, retail and service, healthcare,

for a business.

Website: www.wafdbank.com Number of Offices in Metro Phoenix: 11 Year Established Locally: 1994 Headquartered: Seattle, WA No. of Years with Firm: 3 Industry Expertise: Commercial banking; SBA Lending, Expertise in leading business accounts in industries such as: Manufacturing, Distributors, Retail and Service Businesses, Medical and Professional Businesses, Nonprofit and Government Organizations, Contractors and Construction ADVERTISING PROFILE

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NOV. 2021

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,

Arizona

TWO GREAT BANKS BECOME ONE. When it comes to furthering our state, it’s not just business. It’s personal. Which is why we merged two of Arizona’s most trusted banks—to give you a financial partner who

not only offers local decision-making, but the regional power and strength to keep pace with the growth of our state. Welcome to a new kind of banking experience. www.bokfinancial.com

— Dave Ralston Arizona Market CEO

+ © 2019 BOK Financial. Services provided by BOKF, NA. Member FDIC.

=

Banking | Lending | Investments

Bare, Aaron, 24

Galvez, Rachel, 38

Jasa, Carla Vargas, 44

Schelter, Jeff, 11

Bauer, Ken, 61

Gerber, Todd, 62

Johnson, Eric, 36

Selemonaité, Agne, 55

Bayless, Justin, 12

Goodnow, James, 24

Jones, Heather, 10

Smallwood, Jeffrey, 14

Bell, R. Chapin, 16

Gorrill, Lindsay, 43

Kaziukonis, Vytautas, 13

Start, Trish, 57

Breuss, Frank, 24

Goshkarian, Wayne, 22

Kremer, Curt, 16

Thorell, Mike, 56

Butler, Jen, 42

Goulston, Mark, 30

Lewis, Scott, 55

Times, Tish, 48

Butler, Tyler, 38

Greenfield, Barry, 15

MacRae, Madeleine, 49

Urman, Karen, 52

Cain, Rosaria, 47

Gruwell, Scott, 43

Major-Martinez, Sindi, 50

Watkins, Laura, 31

Camacho, Chris, 24, 44

Guttman, Jacob, 34

Matthews, Linda, 18

Weber, Bruce, 40

Carter, Connie, 24

Hancock, Trent, 15

Miller, Eric, 9

Wegner, Mary Kay, 12

Chalhoub, Jad, 24

Helms, Karla Jo, 24

Millstein, Alana, 10

Welch, Amber, 60

Ciarfalia, Dayna, 10

Hendel, Diana, 30

Odesho, Merian, 66

Widdows, Matt, 24

Coleman, Ken, 31

Henninger, Don, 41

Paprocki, Jason, 38

Witt, Daniel, 43

Conant, Scott, 46

Hillery, Lauren, 20

Peterson, Ken, 12

Wright, Jackie, 14

Dietzel, Vanessa, 31

Hooley, Ryan, 22

Richardson, Jo, 31

Wu, James, 45

Friesen, Jeff, 59

Howard, Jon, 36

Ryan, Terrence M., 20

11Eleven Consulting, 38

Facebook, 15

Nikulipe, 24

Scottsdale Community College, 19

Aaron Bare, 24

Fennemore, 24

OneAZ Credit Union, 61

Shea Homes, 12

Aero Electric Vehicles, Inc., 43

First Western Trust, 57

Optum Care, 21

Snell & Wlmer, 37

Alliance Bank of Arizona, 11, 24

Genesis, 45

P.B. Bell, 16

Stearns Bank, 8

Arizona Bankers Association, 55

George Oliver LLC, 16

Surfshark, 13

Arizona Commerce Authority, 2, 3

Girls Scouts – Arizona Cactus Pine Council, 12

Phoenix Analysis & Design Technologies, 9, 24

Arizona Community Foundation, 39 Arizona Federal Credit Union, 38, 56 Arizona State University, 23

HealthChampion, 20

Association for Entrepreneurship USA, 22

Henri, 10 HomeSmart International, 24

Aventiv Technologies, 38

InnerSpace, 45

Bayless Integrated Healthcare, 12

JB Partners, 42

BioCare, Inc., 18 Blue Cross Blue Shield of Arizona, 7 BMO Harris Bank, 54 BOK Financial, 63 Bounce Curl, 66 Camelot Homes, 15 Circle Road Companies, 15 ConnectPay, 55 Courtesy Automotive Group, 43 Dayna Ciarfalia, LLC, 10 Desert Financial Wealth Management, 64

Greater Phoenix Economic Council, 24, 44

Jive, 8

Polestar, 43

Take Charge America, 10 Technologent, 22 Tesla, 43

ProLogis, 23 Quarles & Brady, 35, 36 Restless Clothing, 14 Rosendin Electric, Inc., 15, 24 Rosevest Financial, 34 Scottsdale Coalition of Today & Tomorrow, 41

JLL, 17

Tish Times Sales Agency, 48 UnitedHealthcare, 5 URMAN, 52 Valley of the Sun United Way, 35, 44 Vroom, 12 WaFd Bank, 62 Weber Group, 40

JoTo PR, 24 JPMorgan Chase, 55

CHECK US OUT

Kiterocket, 67 Knoodle, 47 KORE, 43 LaneTerralever, 20 LocalWorks, 15 Lucid Motors, 43 Macy Lane Designs, 14

Divvy, 6

Metro Phoenix Bank, 60

eMONEco, 24

Montage Partners, 12

Enterprise Bank & Trust, 58, 59

Mora Italian, 46

Equality Health, 68

National Association of Women Business Owners, 47

Evergreen Devco, 15

Phoenix Suns Charities, 12

In each issue of In Business Magazine, we list both companies and indivuduals for quick reference. See the stories for links to more.

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65 NOV. 2021 INBUSINESSPHX.COM

A CANDID FORUM

BY

From Idea to Market Building on my Bounce Curl experience to mentor other women entrepreneurs

by Merian Odesho

Merian Odesho is founder and owner of Bounce Curl — a company that specializes in creating products for wavy, curly and coily hair — and the creator and formulator of all Bounce Curl products.

Her main goal is to empower all individuals to embrace their natural hair. Following graduation from college, Odesho recognized that the haircare industry had not yet embraced naturalderived ingredients.

She paired her love of mixology and her chemistry expertise to launch a company dedicated to creating safe and clean products.

Bounce Curl practices safe beauty. bouncecurl.com

NOV. 2021

66

INBUSINESSPHX.COM

Can anyone say they have created a business all on their own? Even when that prospective business is just the spark of an idea, there is always at least one area where support from someone else can advance the idea from possibility to reality.

As founder and owner of the highly successful Bounce Curl, I understand the challenges of launching a business independently and am sharing that knowledge with other women who are trying to start their own companies. This is a role that comes naturally to me — in fact, I mentored my fellow classmates in college.

I am particularly drawn to mentor women who have experienced challenging life situations or are women in need, as the outcome is so rewarding and fulfilling. Everyone can help people, but when you are able to help someone create and generate their own income to pay the bills for their family, that is priceless.

Starting a business is difficult enough — and even more difficult for those who are facing challenging circumstances.

Being able to operate their own business can help move these women toward a more successful life. One of my early mentees, Felicia, was raising her three children along with caring for her late sister’s two boys. She also had this great idea for products that would elevate the effects of hair stylers but little time to move that idea forward and little idea where to even begin. While authoring a blog about how she transitioned her curly hair from damaged to healthy, she connected with me, and I realized that with some help, Felicia’s dream of starting her own business could become a reality.

It was a process that ultimately took nearly four years to get Felicia’s idea to market, what with the challenges of raising her family, the pandemic and my own pregnancy! But we worked together every step of the way. The formulation stage was the longest and was especially demanding. I found Felicia needed a lot of encouragement during this process, as the formulator went back and forth from lab to testing — over and over — until the final product was ready to be sold. And that was when the actual business part of starting a company begins — which

includes legal, accounting and reporting considerations.

Mentoring others through this helps them navigate the learning curve I struggled with.

Although I understood the actual chemistry involved in creating my products, I had almost no business education or experience. In the beginning, Bounce Curl lost quite a bit of money by using a fulfillment house to handle product delivery. So, I went to work in my own warehouse, fulfilling and shipping orders as well as troubleshooting the electronic shopping cart that processed those orders. It was important to me to fully understand how everything worked, from product development to delivery.

I share with those I mentor not only this knowledge and best practices that I’ve developed for Bounce Curl, but also my company’s resources. Felicia’s company runs all her product fulfillment through Bounce Curl’s shipping department, thus avoiding the high fulfillment fees that I paid when my company was just starting out. When there is a need for technical support, Bounce Curl’s team is available for her. I believe that sharing my expertise and resources allow small businesses like hers to have the best chance to grow and survive; there is enough business out there for everyone — and I believe helping each other is the way for all to succeed. To date, I have mentored five women with their businesses and plan to help more in the future.

In my own business, Bounce Curl is ready to celebrate more than six very successful years in business. Originally launched with its flagship product Bounce Curl Light Creme Gel (which remains its most popular seller), the product line has grown to 15 products over six years. Despite the challenges brought on by the pandemic, Bounce Curl has achieved double-digit growth in percent total sales each year and has customers around the globe; Bounce Curl products have shipped to 150 different countries!

I am looking forward to the time when I will be celebrating business launch anniversaries with those I’ve mentored. I hope to continue and expand this mentorship program with the expectation that each mentee will “pay it forward.”

The global natural hair care product market was valued at USD 8.74 billion (2019) and is expected to grow at a compound annual growth rate of 4.7% from 2020 to 2027. Millennials are a prominent consumer segment for natural hair care products. Shifting consumer perception toward natural ingredient-based products in the cosmetic and personal care domain is expected to boost demand for natural hair care products in the market.

Embracing culture.

Empowering health.

Equality Health is the nation’s leading integrated health delivery system focused solely on improving care for diverse communities through culturally sensitive providers and programs that improve access, quality, and trust.

The new culture of care Like, Follow, Share

equalityhealth.com