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EDITOR’S MESSAGE
EDITOR
Daniel Suddeath
A reason to walk K&I can be an economic tool for Floyd County
With the opening of the Big Four Pedestrian Bridge, there’s been a plethora of discussion about how infrastructure designed for walkers and cyclists can serve as an economic development tool. Jeffersonville officials have touted how the Big Four Bridge has already spurred more business for downtown, and the development of the area in terms of new establishments certainly preceded the opening of the pedestrian span. Now there’s talk about how New Albany could benefit from a similar project with the opening of the K&I Bridge to pedestrians. However, this isn’t an apples to apples comparison; at least not yet. First and foremost, Norfolk Southern Railroad has to sign off on opening the K&I, and that likely won’t happen until public entities assume all liability. Trains still use the bridge, and it’s hard to expect Norfolk Southern to open the span to the public without assurances they won’t be sued if some foolish person decides to play tag with a caboose. That aside, New Albany has some work of its own to do before opening the span would make sense, at least from a business perspective. Investors have laid out plans to redevelop portions of Portland, which is where pedestrians from New Albany would be walking to if they crossed the K&I. However, there’s not much on the eastern end of the city at the moment to draw Portland residents to New Albany. Once vibrant restaurants in that corridor — such as Tommy Lancaster’s and La Rosita Grill — are now closed and vacant. The Ohio River Greenway
connects near the K&I Bridge, but it would still be a good hike or bike to downtown New Albany from that entrance. Merely opening a bridge so people can walk on it doesn’t make too much sense. Give people a reason to walk across that bridge, such as Jeffersonville has accomplished with the Big Four, and then it’s a brilliant idea. With some incentive from the city, the eastern portion of downtown and midtown could become a viable business corridor again. Sandwiched between the area and downtown is a sizable block of residents. Many of those people live a little bit too far to walk downtown on a regular basis, but would likely frequent establishments along East Market, East Main and East Spring Streets, if there were more to offer. The “build it and they will come” philosophy from the movie “Field of Dreams” is pretty much the opposite of what would make sense for developers and public officials in New Albany when it comes to the K&I. Instead, they need to build it and give people a reason to come. In other words, put development pieces in place that provide a viable argument for opening the K&I. Norfolk Southern hasn’t given any public indication that they will open the bridge to pedestrians and cyclists. City officials have said that in a best case scenario, it would probably take five years for the K&I to open. That gives New Albany quite a bit of time to get a plan in place to capitalize off the pedestrian bridge if the project comes to fruition.
facebook.com/ sibusinesssource Southern Indiana Business Source is published by the News and Tribune PUBLISHER Bill Hanson bill.hanson@newsandtribune.com
EDITOR Daniel Suddeath daniel.suddeath@newsandtribune.com
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CONTRIBUTORS Paul Sanders, Todd Logsdon, Timothy Weatherholt, Blayr Barnard, Wendy Dant-Chesser, Michael Lamsfuss, Aprile Rickert, Vern Eswine, Andew Campbell, Stephen Hall DESIGN Brandi Jones PHOTOGRAPHY Christopher Fryer CONTACT US Letters to the Editor: Must include name, address and daytime phone number. They can be emailed to us or mailed to the address below. Letters may be edited for space or clarity and may appear in the digital version of Southern Indiana Business Source.
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Southern Indiana Business Source | July 2014
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COVER Owners Brent Rogers, left, and Chris Hughes stand in front of a sound rig at Sounds Unlimited Productions in Jefersonville. PHOTO BY CHRISTOPHER FRYER
20 FEATURES:
book review Getting in the mindset to be successful PAUL SANDERS Sullivan University Dale Carnegie Group
SOUTHERN INDIANA BUSINESS SOURCE
PARTNERS
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Entrepreneur Spotlight Matt McMahan the brains behind The Irish Exit in New Albany and Big Four Burgers + Beer Entry-Level Entrepreneurs High Schoolers attend business academy
Community Development Recent news and updates Personnel & Promotions Whoâ&#x20AC;&#x2122;s going where, and when Law Talk Abusive patent litigations Labor Laws Breaking bad employee behavior Small Business Risk It: Indiana Economic Development Growing our next big business Marketing Myths about working for yourself Southern Indiana Business Source | July 2014
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COMMUNITY DEVELOPMENT
Neace Lukens adopts new brand identity
Coyle Chevrolet breaks ground on remodel Coyle Chevrolet recently broke ground on a 12,000-square-foot expansion to the dealership, which will add up to 12 new jobs, the company announced. The dealership, which will celebrate its 70th anniversary later this year, will add 3,500 square feet to the sales floor and 8,500 square feet to the service department. Total employment will be about 80 when the expansion opens in December, according to a news release from the Coyle family. Total square footage will be 37,000 when the additions to the dealership — built in 2000 – are complete. Coyle Chevrolet’s exterior front facade will have a new look that is larger with signage that is consistent with GM’s Essential Brand Elements program. The EBE initiative is a large-scale project being implemented by GM at dealerships across the country that aims to enhance the customer experience.
“Our business has been outgrowing our facility for some time, so the timing is right for the GM remodel, in addition to adding to our overall square footage,” said Mike Coyle, president and dealer principal of Coyle Chevrolet, in the release. “As we approach our 70th year in business, we are looking forward to making this investment that will better serve our customers long into the future.” Other facility changes at Coyle Chevrolet, 1801 Broadway St., just off Veterans Parkway, that customers will see include a brighter, more modern showroom and service entrance area, a remodeled customer and business lounge area with free Wi-Fi and a kids play area. The dealership will also expand the service bay area to be able to service additional vehicles and will add an automated car wash, the news release says. The general contractor on the project will be AML Inc. of Floyds Knobs.
New gallery open downtown Gadabout Gallery and Artisan Shoppe, 249 Spring St., is just a few blocks from the base of the Indiana ramp to Big Four. Gadabout is owned by Dawn Spyker and Jennie DiBeneditto, local artists and owners of Silica Ceramic Studio, located across the street at 246 Spring St., according to the release.
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Southern Indiana Business Source | July 2014
Neace Lukens — which specializes in commercial property and casualty insurance, employee benefits and individual insurance coverage — has a new name. Already an AssuredPartners Inc. company, the business is now Assured Neace Lukens. The main changes will be related to brand identity, as Neace Lukens will incorporate the AssuredPartners tagline. “This rebrand is an important next step for our company,” said Larry Schaefer, president of Assured Neace Lukens. “Our new brand reflects the Neace Lukens history and culture, while also showcasing our strong relationship with our parent company, AssuredPartners.” Though the corp rate headquarters for Neace Lukens are now in Louisville, the company maintains a New Albany presence, and has a location off Green Valley Road. For more information, visit neacelukens.com
New Albany native opens BBQ Shawn Pitts opened Shawn’s Southern Barbecue at 822 State St., near downtown New Albany, featuring his award-winning, Memphis-style barbecue, based on a century-old family recipe. The menu features ribs, rib tips, pulled pork, chicken and beef brisket, all slow-smoked on the premises with hickory and cherry woods. Pitts’ barbecue was recently recognized for both the “Top Hog” people’s choice award and the “Smoke King” judge’s award at the Horseshoe BBQ Battle. Pitts makes his own rub and sauce based on recipes that have been in his family for a century. Shawn’s Southern Barbecue is open from 11 a.m. to 4 p.m. Mondays through Saturdays. The restaurant is closed Sundays. Walk-ins are welcome, with some seating available, as well as carryout. To place an order or inquire about catering, call 502-741-7836.
The gallery and shop will include pieces for sale from dozens of regional artists who work in a variety of media, from functional ceramics to ceramic sculpture, as well as paintings, jewelry, photography and basket-weaving. Slumped and blown glass also will be featured. Among the artists on tap are Molly Gruninger, painter and muralist, and Sebastian Moh, ceramic artist. Monthly shows will highlight work from notable artists in the gallery space.
John Jones breaks ground on new dealership SCOTTSBURG — John Jones GM City is expanding by breaking ground on a new, state-of-the-art, 28,000-square-foot facility at 1351 W. Ind. 56, Scottsburg. The new facility will include an indoor service writeup area that will be completely air conditioned/heated for customers’ comfort. It will hold several vehicles for service drop-offs, a customer lounge, kids’ play area, a huge service department, Quick Lube bays for fast oil changes and an automatic car wash. As an added convenience to our customers, the facility will boast customer electronic work stations featuring computers and full Wi-Fi Internet capability so customers won’t experience any down time while waiting. Kovert Hawkins Architects was chosen to design the new facility and Koetter Construction was tabbed as the general contractor, both of whom collaborated to produce the latest design. John Jones has been in the Scottsburg community for 13 years. Call 812-752-5000 or visit johnjonesautogroup.com for more information.
Ground was recently broken on John Jones GM City in Scottsburg. Pictured, left to right, are Nathan Jones, Pat Daily, Ryan Barker, Brett Wilson, John Jones, Scottsburg Mayor Bill Graham, John Hayes, Pat Glotzbach, Phil Koetter, John Hawkins and Kenny Fritz. SUBMITTED PHOTO
Southern Indiana Business Source | July 2014
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PERSONNEL & PROMOTIONS Julie Barnett, Emily Devos and Moira Bertram have joined Semonin Realtors New Albany office as a sales associates. They are specializing in residential sales. Call 812944-9800 or email semonin.com for more information. Southern Indiana Rehab Hospital named Brad Kruer director of outpatient services. In this role, Kruer will be responsible for the hospital’s outpatient and contract services. He will manage Frazier Rehab’s KRUER also Indiana and Meade County facilities. Kruer joined SIRH in 1998 as a staff level physical. He advanced throughout his career and most recently has served as rehab services supervisor, a position he has held since 2002. Kruer is a graduate of Our Lady of Providence High School and the University of Evansville. He holds bachelor’s and master’s degrees in physical therapy. Attorneys Neal Bailen and Bruce Paul of Stites & Harbison’s Jeffersonville office, were named to the Rising Stars list of the 2014
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Indiana Super Lawyers magazine. This is Bailen’s third time as a Rising Star and Paul’s fifth time being honored. Super Lawyers — superlawyers.com — is a Thomson Reuters ratservice of outstanding PAUL ing lawyers from more than 70 practice areas who have attained a high degree of peer recognition and professional achievement. Only 5 percent of the lawyers in each state or region are named to the Super Lawyers list and no BAILEN more than 2.5 percent are named to the Rising Stars list. Bailen focuses on civil litigation, financial institutions litigation and health care law. Paul is a member of the Torts & Insurance, Business Litigation and Financial Institutions Services Litigation practice groups. Havens Medical Group, Clark Physician Group recently hired three nurse practitioners: Nicole Flippen joined the practice in January. She formerly worked as a nurse practitioner
Southern Indiana Business Source | July 2014
at Baptist Health. She has bachelor’s degree in nursing from University of Louisville and a master’s in nursing from Indiana Wesleyan University; Courtney Montgomery also joined Havens in January. She graduated from Western Kentucky University with a bachelor’s degree in nursing. She worked in critical care for three years while completing her Family Nurse Practitioner through the University of Cincinnati. Montgomery worked in nephrology as a nurse practitioner for 18 months before joining Havens; Tina Woodrome graduated from Spalding University with a bachelor’s in nursing. She worked in critical care for 15 years before becoming a nurse practitioner in 2012 and earning her master’s in nursing. She joined the practice in February. Call 812-2834441 to schedule an appointment. Callie Durham, board certified women’s health nurse practitioner, joined the Just for Women practice in April. She received her bachelor’s degree in nursing from U of L. After receiving her degree, she worked as a labor and delivery nurse for five years before becoming a nurse practitioner. For more information, call the office of Just for Women at 812-2807063.
LAW TALK
Protect your business from the heavy toll of
Abusive patent litigation BY STEPHEN C. HEIL & ANDREW B. CAMPBELL Wyatt, Tarrant & Combs, LLP :: wyattfirm.com A company’s business plan usually focuses on manufacturing and labor costs, product sales, growth, revenue and other success factors. Frustratingly, there has been a rise of companies that exist only to threaten and initiate lawsuits for patent infringement, which are often referred to as “Patent Assertion Entities” (“PAEs”) or, less favorably in some circles, “patent trolls.” According to a recent Federal Trade Commission report, PAEs focus only “on purchasing and asserting [pre-existing] patents against manufacturers already using the technology, rather than developing and transferring [new] technology.” The number of patent infringement lawsuits by PAE’s has shot up from about 500 cases in 2006 to over 1500 in 2011. While not every PAE who sues to enforce its patents does so abusively, there is a certain ilk who, having obtained their patents secondor third-hand from the original owner, seek only to bring value to (or “monetize”) the patent via litigation and threats of litigation. In some cases, the strategy involves very broadly identifying companies suspected of practicing the patented technology; using a mass letter campaign aimed at target businesses; and providing very limited time for each recipient to agree to pay a license fee or face a patent infringement claim. Some PAE’s that price their settlement demand high enough to make a profit, but
lower than the target’s anticipated litigation defense costs. Consequently, the target has a difficult decision: pay now or defend in court later. Virtually any company selling products or services is a potential target for PAE litigation. Accordingly, there are five things that a company should consider, if it receives such a letter. First, do not ignore it. Hire qualified patent counsel to compare the patent(s) at issue to the subject products or services. If the letter has merit, consider an early settlement, even prior to the filing of a lawsuit if feasible. Second, there is strength in numbers. Inquire of relevant trade associations whether other industry members have received a similar notice letter. In some cases, joint sharing of information, coordination of defenses, and division of some expenses amongst a group of targets is mutually beneficial.
Andrew B. Campbell is a partner in the Nashville office of Wyatt, Tarrant & Combs, LLP, and has been a civil litigation attorney for 22 years. Previously, he served as a judicial clerk to the Honorable Thomas A. Higgins in the U.S. District Court for the Middle District of Tennessee.
Third, determine whether a claim for indemnity exists under a contract, or a prior license that might prevent the PAE from suing on its patent. If a third party is obligated to defend the infringement claim, notify it as soon as possible to preserve indemnity rights. Fourth, determine whether a general liability insurance policy covers the allegations of infringement. Insurance policy exclusions often exempt such coverage, but coverage may turn on how the notice letter or complaint is worded. Fifth, make informed decisions. Get as much information as possible and as expeditiously as possible to determine whether to settle or defend. Always remain flexible to changing circumstances in the dispute. Until Congress acts or there is a significant landscape change through court decisions, manufacturers and service providers must remain alert and equipped to respond to these infringement claims.
Stephen C. Hall is a partner in the Louisville office of Wyatt Tarrant Combs, LLP, and has advocated his clients’ interests in the courts and before the Patent Office during his 22 year legal career. Previously, he worked as a research and development chemist in the coatings industry.
Southern Indiana Business Source | July 2014
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BOOK REVIEW
Get in the mindset to be successful BY PAUL SANDERS
“How to Work for Yourself: 100 Ways to Make the Time, Energy and Priorities to Start a Business, Book or Blog” By Bryan Cohen
Paul
SANDERS Paul Sanders is an award-winning writer who worked for the past 10 years in the training industry with best-selling authors including Stephen Covey, Ken Blanchard and Tom Peters. He is an adjunct professor who works with the Sullivan University Dale Carnegie Group.
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Southern Indiana Business Source | July 2014
More than half of new businesses will fail within the first five years, according to the Small Business Administration (SBA). Statistics show that 8 out of 10 new businesses will disappear within the first three years. Almost 80% of new businesses fail within their first year. According to Dun & Bradstreet, “Businesses with fewer than 20 employees have only a 37% chance of surviving four years and only a 9% chance of surviving 10 years.” While the reasons behind such dire forebodings have been justifiably argued as ranging from poor management skills to lack of proper capitalization, author Bryan Cohen argues there could be an even simpler underlying reason. In his book, “How to Work for Yourself,” he puts forth a basic concept for success — having the “right state of mind.” Cohen believes that with current access to tools and information from the Internet, nearly everyone has the ability to learn how to start a business. With so much expertise readily available, why do so many continue to fail? The answer, he says, is that most people lack the personal skills in time management, energy management and priority management. If you can’t get your “head on straight,” how can you expect your business to succeed?
The author suggests finding the proper mindset applies not only to starting a business, but also to any creative project such writing a book or blog. What he offers is a collection of 100 ways for people to gain this right mindset, drawn from his own trial and error as well as other books and resources. The result is a thought provoking, albeit somewhat simplistic, listing of ideas that seek to encourage creative entrepreneurship. Chapter one starts with one of the most basic threats to a new entrepreneur: lack of time management. Many new business owners fail to figure out what are the most productive things possible to do for the business, instead getting lost in details. Learning to focus remedies the need to constantly double check details. Often, this is as simple as eliminating distractions such as constantly responding to your phone, tablet or laptop. One great distractor, email, should be answered only in the morning and evening. Too often, the author suggests, we check our email 10 or 15 times a day out of the need to feel important or loved. If you want to be successful, get over it. One of the hardest of time savers is being an emotional rock. If you’re wasting time on petty arguments or
reacting to others instead of using logic, you won’t have time to run the business. If you want to get tuned to this focused entrepreneurial mindset, try giving up Facebook, TV or mobile Internet for 30 days, Cohen suggests. If skipping Facebook for that period of time “sends shivers down your spine,” that’s reason enough for doing it, he says. Another error that many entrepreneurs make is the failure to manage their own physical energy. Physical energy is created by your level of physical fitness, type of food eaten and even the amount of sleep you get. While these concerns are not usually taken into consideration when starting a creative project or business, Cohen suggests they are
vital for productivity. Equally important is to get energy from others. Healthy relationships boost energy levels as well as allowing for more time to work on creative projects. Though a new endeavor is often time consuming, spending even an hour a month helping others or a charitable cause can be energizing. While good health practices and social relationships build the energy necessary to support a business, the most important source of energy is you, Cohen says. Creating a positive outlook, interrupting your negative thoughts and building your self-esteem are building blocks for success in your business. “The people who are most successful with their businesses, books and
blogs believe in themselves,” Cohen says. Any aspiring business owner should review the book’s section on goal setting. The exercise on modeling your goals based on someone who has been successful in the same or similar business could certainly provide a boost in your own processes. “How to Work for Yourself ” provides valuable insight into the personal mindset needed to be successful. The author makes the argument that perhaps more than spreadsheets and business plans, a clear, focused intent and right attitude may just be the most necessary tool for creating a longlasting business.
Southern Indiana Business Source | July 2014
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LABOR LAWS
A n a p c f m A r Th t
T
Breaking bad choices that can affect the workplace
BY TODD LOGSDON & TIMOTHY WEATHERHOLT FISHER & PHILLIPS, LLP :: LABORLAWYERS.COM In the employment setting, there are any number of potential conflicts that may arise between employees and their employers. Sometimes, these issues may stem from certain behaviors or choices made by the employees. This article will discuss a few of these topics. DRUGS
Recreational marijuana is now legal in two states (Colorado and Washington), and medical marijuana is legal in 20 states and the District of Columbia. Neither form of marijuana, however, is legal in the Hoosier state. Even in states where marijuana is legal, there are typically no restrictions on the employer’s ability to discipline an employee’s use of marijuana, even if 12
Southern Indiana Business Source | July 2014
that use occurs off-duty.
concern for employers, from a discrimination perspective, is religious TOBACCO AND CIGARETTES discrimination. When an employee On the other hand, Indiana, like identifies a sincerely held religious approximately 30 other states, pro- belief, the employer is required tects employees from adverse action to reasonably accommodate that based on off-duty tobacco use. belief absent an undue hardship. In Indiana Code 22-5-4-1 prohibits this context, the employer’s burden an employer from discriminating to show undue hardship is not against an employee or prospective nearly as great as it is under the employee based on his/her use of Americans with Disabilities Act. tobacco products outside the course The employer need only show that the hardship would be more than a of employment. Like most every minimal burden. state, Indiana has not addressed Employers encounter probe-cigarettes, so employers should lems when they seek to enforce a have wide latitude in that area. policy when there is no evidence CLOTHING AND GROOMING an exception would be problematic. As a general rule, employers may For instance, the Equal Employprescribe certain rules of dress and ment Opportunity Commission cleanliness. The primary area of recently sued the clothing company
m w 2 p i w s m g t c F h p w t p e p c h
G
L t w t q c U e a o t c h
Abercrombie & Fitch because it terminated a Muslim teen employee who wore a religious headscarf. The store manager permitted the employee to wear the headscarf, and the employee wore her headscarf for several months. Subsequently, a visiting manager concluded the headscarf violated Abercrombie’s dress code. The employee refused to take it off and was terminated. The EEOC prevailed in this case because there was no evidence of undue hardship.
non-disparagement policies that preclude employees from discussing and complaining about workplace issues to be problematic. To comply with this precedent, these policies must be narrowly tailored, but even that may not be sufficient. It is also a good practice to include broad disclaimer language, such as, “nothing in this policy is intended to prohibit conduct protected by Section 7 of the NLRA.”
TATTOOS AND PIERCINGS
Tattoos and piercings are now commonplace in society and, of course, in the workplace. Forty percent of people age 26-40 have at least one tattoo. Thirty percent of people age 18-25 have a piercing somewhere other than their ears. As with clothing and grooming, employees subject to an adverse employment action may argue that they should have been given an accommodation based upon their religious beliefs. Such arguments can be difficult for employees though. For instance, an Indiana district court held that an employer’s requiring an employee to cover a tattoo of a hooded man with a burning cross was not a failure to accommodate. A case like this one presented a double-edged sword for the employer, because if the employer had permitted the tattoo to be visible, that could have been evidence of a racially hostile work environment. GOSSIP AND DISPARAGEMENT
Finally, decisions by the National Labor Relations Board (“NLRB”) and the Administrative Law Judges (“ALJs”) who enforce the National Labor Relations Act (“NLRA”) have called into question employer policies aimed at curtailing gossip and disparagement. Under Section 7 of the NLRA, employees have the right to engage in concerted activities. This generally means that two or more employees have the right to act together to attempt to improve working conditions. The NLRB and certain ALJs have recently found that no-gossip and
Todd
LOGSDON Todd B. Logsdon is a Partner in the Louisville office of Fisher & Phillips LLP, a national firm representing employers in labor and employment matters. He practices exclusively in the areas of labor and employment on behalf of employers, with a particular emphasis on discrimination, wage and hour issues, FMLA, and OSHA issues. Todd may be contacted directly at 502-561-3971 or HtmlResAnchor tlogsdon@ laborlawyers.com.
Timothy J.
WEATHERHOLT Timothy J. Weatherholt is a Partner in the Louisville office of Fisher & Phillips LLP. He practices exclusively in the areas of labor and employment on behalf of employers, with a particular emphasis on discrimination, ADAAA, and wage and hour issues. Tim also has substantial experience in defending class actions and collective actions. Tim may be contacted directly at 502-561-3982 or HtmlResAnchor tweatherholt@laborlawyers.com .
Southern Indiana Business Source | September 2013
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SMALL BUSINESS
Risk it: Indiana
An evening of inventive ideas
Competitors for the third annual Risk It: Indiana held in May. PHOTO SUBMITTED
BY BLAYR BARNARD Southeast Indiana Small Business Development Center In mid-May, the Southeast ISBDC hosted our third annual Risk It: Indiana, a 13 county business idea pitch competition. We hosted seven innovative competitors from across Southeast Indiana to a packed house and put the pressure on three knowledgeable judges to determine a winner. We also allowed the audience to get involved by selecting their favorite with our Audience Choice Award – Cold Hard Cash. Our competitors ranged from the Land Zeppelin, a polycarbonate enclosure that mounts to any standard bicycle and protects the cyclist from inclement weather, to Natural Furnishings, a handmade artisan furniture manufacturer started in Floyd County. We had Flatrock Bread Company’s new idea for Belgium Street Waffles, a four way traffic signal to take the guess work out of stop signs, and organic skin care products from Royal Pampering Day Spa. All four of our previous winners have been men, but our 2014 Risk It: Indiana winners were both women entrepreneurs: Dawn Andrews with garb2ART Cosmetics of Columbus taking 1st Place and Audience Choice and Jyll Stuart of Veracity Technologies of New Albany taking 2nd Place. Both of these innovative women business owners are making strides to radically change their markets and I want to share their stories. Jyll Stuart is the Founder and CEO of Veracity Technologies, which focuses on
embedded hardware and software solutions, customized web applications, and custom software solutions. Stuart’s Risk It: Indiana pitch revolved around an innovative product for personal protection and quality of life for endangered persons; such as the elderly, persons with mental/debilitating diseases, children, patients, etc. She has developed a product that can be embedded into a silicon band, bracelet, or necklace to monitor exact location for real time data access with a designated mobile device. Stuart is still in the design stages so the product does not yet have a name, but she wants to change the way you think about personal location devices. Dawn Andrews started garb2ART a few years ago because she was concerned about recycling and has sense morphed the business into a full cosmetics line. She is well known to her online social media following for posting fun photos of her and her customers before/after makeover shots along with videos of herself buying truckloads of packaging that would have made it to the land fill. Garb2ART Cosmetics motto is “we are here to create a unique awareness for recycling while adding a little light and a lot of color”, and Andrews does just that. Her flagship product is LipGarb, a light up, high quality lip gloss with an integrated mirror that makes touching up your lipstick
effortless and has now been expanded into an organic line. She now has light up nail polish and is working on light up mascara as well. While the lights are a very handy, Dawn knows that the novelty could wear off, but her customers keep coming back again and again for the high quality of the actual makeup she sells. Andrews wants to expand garb2ART into a full service cosmetics firm in Columbus, filling her own product to keep absolute control of quality and to sell internationally. These two innovative entrepreneurs proved to the audience that they deserved to be on top. In fact, the audience choice voting mirrored the judge’s votes within 10 of 670 total votes. While I am not in need of a personal location device, I can say that I use some garb2ART Cosmetics products and am looking forward to seeing what the Risk It: Indiana winners have in store for Southern Indiana. For anyone that would like to compete, we are accepting applications for the next round of Risk It competitors at www.riskitindiana.com.
Blayr Barnard is the Regional Director of the Southeast Indiana Small Business Development Center, which is located in Suite 200 of the Elsby Building in New Albany at 117 E. Spring St.
Southern Indiana Business Source | July 2014
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INSURANCE
Key employee protection Preserving your business BY MICHAEL LAMSFUSS New York Life Insurance Company PLAN TODAY FOR THE FUTURE
As a business owner, you recognize the importance of insuring your building, inventory, and equipment. These assets are vital to the success of your company. But what would happen if a key employee died unexpectedly or became disabled? Key employees are the foundation of a successful business. They are business owners, sales directors, CFOs, or any other individuals who are sources of leadership and profitability, and who would be extremely difficult to replace. Unless the proper steps are taken, the death or disability of a key employee can be devastating to the financial well-being of your company. THE SOLUTION: KEY EMPLOYEE PROTECTION
savings plan, much like a bank account, to protect itself from the death or disability of its key employees. At death, the cash in the savings plan is used as a source of funding. Unfortunately, this method has several drawbacks: • A savings plan accumulates funds over time. What if funds are needed tomorrow? • Accumulated cash could cause an accumulated earnings problem. • Any growth on the accumulated funds may be income taxable. • A savings plan may be depleted to pay for other expenses. • The business owner will pay dollar for dollar, thus depleting the amount of cash that could be used elsewhere.
effective way to safeguard your business and minimize the impact of a key employee’s death or disability. Life insurance and/or disability insurance can provide your business with the following advantages: • Funding with insurance is easy to administer. • Funds are available even if death or disability occurs the day after coverage begins. • Although the premiums are not deductible, the life insurance proceeds at death are generally received income tax-free to the business. FUNDING THE FUTURE PLAN
The business applies for a life insurance policy on the life of a key employee. The business is the owner and beneficiary of the policy. As policyholder, the business pays premiums to an insurance company for the policy as long as the key employee is alive and an employee. Should an insured key employee die, the death benefit proceeds from the insurance policy would pass generally income tax-free to the business1, providing an immediate cash source for debt repayment, liquidity, or other related concerns.
Funding a plan to protect key employees may give your business the additional funds it needs to: • Hire and train replacements. • Replace an employee’s contribution to profits. • Maintain the confidence of clients and creditors. • Meet possible loan obligations if the key employee was also a guarantor on business loans. There are three basic options for funding the costs associated with the sudden loss of a key employee: cash accumulation or a sinking fund, borrowing from a bank, or life insurance.
BORROWING FUNDS
INSURANCE
into one of the specified exception categories, a speci-
CASH OR SINKING FUND
Purchasing life and/or disability insurance on your key employees can be a cost-
fied form of notice is provided to the employee, and the
In this option, a business establishes a 16
In this option, funds are borrowed, usually through a bank loan, to replace the financial loss caused by a key employee’s death or disability. Drawbacks of this option include: • A potential slowdown in business growth due to additional loan repayments. • A reduction in future profits may occur because of the loan repayment. • The business owner will pay dollar for dollar plus interest. • The company’s credit may be adversely affected due to greater debt.
Southern Indiana Business Source | July 2014
1
The Pension Protection Act of 2006 established that
the death benefit of an employer-owned life insurance policy will be income taxable to the extent that the benefit exceeds premiums paid unless the parties fit
employee consents to be insured.
ECONOMIC DEVELOPMENT
Growing our next big business BY WENDY DANT CHESSER
“Whenever you see a successful business, someone once made a courageous decision.” - PETER F. DRUCKER
One Southern Indiana (1si) is often highlighted when our assistance to big companies leads to new jobs and new investment. Most of the headlines stem from new companies that come from afar to locate in our part of the world, or from existing local employers who are celebrating new opportunities to grow their operations. But none of these big companies started out where they are today – they all started with an entrepreneur. Someone had an idea, took a risk, and made a “courageous decision” to grow that idea into a successful venture. Statistics show that entrepreneurs are adding value to the economic sustainability of Clark and Floyd counties. According to the website www.census.gov, non-employer businesses (self-employed workers) in Clark County alone generated more than $255 million in receipts in 2012. When combined with the self-employed workers in Floyd County, this number grew to $462 million in receipts. Fortunately for Clark and Floyd counties, this boom in economic growth is not expected to slow down! The State of Indiana predicts the self-employed workers located
in Economic Growth Region 10 (which includes both Clark and Floyd counties) is expected to increase 6 percent by 2018. Knowing this growth trend, how does a community rally support behind these small businesses and start-up operations? Access to capital is often reported as the number one deterrent for small business growth. Small businesses suffer the greatest difficulties in accessing affordable financing for emerging businesses or business expansions. The Horseshoe Foundation of Floyd County Small Business Revolving Loan Fund, managed by 1si, was designed to encourage and assist business development within Floyd County by providing financing for small, emerging private business enterprises to expand operations and to increase or maintain employment. However, being well-financed is hardly the only criteria necessary for small business success. In addition to capital needs, Entrepreneur.com cites several other obstacles that impede small business success, including: • Inadequate preparation for getting started in the new venture; • Lack of branding and marketing
expertise; • Inexperienced management; • Improper staffing; and • Mismanagement of client relations. Fortunately, such case studies help communities grow the local economy from within by overcoming these obstacles. Twenty-five years ago in in Littleton, CO, an entrepreneurial approach to economic development known as Economic Gardening, was pioneered. Economic Gardening is more than connecting entrepreneurs with support organizations. It also involves helping with their operations or incentives. continued on page 19
Adding Value
$
462 MILLION Statistics show that entrepreneurs are adding value to the economic sustainability of Clark and Floyd counties. According to the website www.census.gov, non-employer businesses (self-employed workers) in Clark County alone generated more than $255 million in receipts in 2012. When combined with the self-employed workers in Floyd County, this number grew to $462 million in receipts.
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Growing our next big business continued from page 17 According to the Edward Lowe Foundation, it is “about leveraging research using sophisticated business intelligence tools and databases” so entrepreneurs can make informed decisions on core strategies and the business model. This premise revolves around local entrepreneurs creating the companies that bring new wealth and economic growth to a region in the form of jobs, tax revenues, per capita income, and a vibrant local business sector. Economic Gardening focuses on growing and nurturing local businesses rather than hunting for company relocations from outside the area. The Ogle Foundation, Inc. directs a portion of its grant funding to this effort locally. “We are trying to create more Paul Ogles, in the sense that we want to help create individual wealth which will, in turn, add jobs and economic sustainability in the
community,” said Kent Lanum, President & CEO of Ogle Foundation, Inc. For example, the Ogle Foundation Inc. provides financial and technical support to Velocity Indiana, a Jeffersonville based not-for-profit leadership entrepreneurial education and business accelerator organization that drives initiatives designed to enhance the ecosphere for startups in image of Southern Indiana and the Louisville region as a dynamic and focus driven places for entrepreneurs and their new ventures. “In counseling small businesses, we listen to the whole story,” said Kathleen Crowley, Senior Director of Business Retention and Expansion at 1si. “We want to understand everything they have gone through and where they want to go. Then we look at the full package – management structure, location and facilities, inventory, etc. This adds value to 1si in that many of their needs can be met by present 1si members in areas such as recruiting, branding, legal and financial services.” If 1si cannot assist directly, we also suggest the services of our many partners,
such as the Small Business Development Council (SBDC), Service Corps of Retired Executives (SCORE), higher education programs and FranNet, to name just a few. Growing our community resources to support entrepreneurs and small businesses is a vital piece of our overall economic development strategy. It adds to our business attraction and retention efforts by nurturing local risk-takers in meeting the needs of small businesses hoping they will become the next big business in our region.
Wendy
DANT CHESSER Wendy Dant Chesser, a native of Jeffersonville, Ind., is the President and CEO of One Southern Indiana, the local economic development organization and chamber of commerce for Clark and Floyd counties.
The One way to grow your business.
business resources economic development advocacy 812.945.0266 | www.1si.org
Southern Indiana Business Source | July 2014
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COVER
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Southern Indiana Business Source | July 2014
Are we having fun yet? SUP helps Southern Indiana find its groove BY DANIEL SUDDEATH News and Tribune :: daniel.suddeath@newsandtribune.com
Owners Brent Rogers, left, and Chris Hughes stand in front of a sound rig at Sounds Unlimited Productions in Jeffersonville.
It’s somewhat of a backhanded compliment, but the pair believe the statement is usually made with no harm intended. Chris Hughes and Brent Rogers are often greeted with a question that touches on their past but doesn’t fully embrace their company’s present and future. “You two are the deejays, right?” Yes, Hughes and Rogers have served as deejays and emcees at hundreds of events over the past 17 years. But the owners of Sounds Unlimited Productions in Jeffersonville have grown what was once pretty much a DJ outfit for weddings into one of the premier event production companies in the region. “The best and worst thing about our company is people think we’re still just deejays,” Rogers said. Hughes and Rogers launched SUP from their homes in 1997 and stayed busy. Climbing the ladder wasn’t easy, but the owners fought through the setbacks and kept the faith. They provided DJ services for 300 to 400 events a year initially, but Hughes and Rog-
ers were drawn to the production and party planning side of the business when they realized there weren’t many local groups offering the complete package. There was never a blueprint for SUP, as Hughes said there wasn’t a production service locally they wanted to pattern their company after. And since SUP expanded its operation, Rogers said the offers keep coming, and the capabilities of the business keep growing. In other words, Rogers and Hughes believe SUP has entered uncharted waters. “We’re literally making this up as we go,” Rogers said. Hard work and attention to detail paid off, as the company moved into a more than 7,000 square foot facility off Fabricon Boulevard in Jeffersonville in 2010. While SUP has stayed true to its roots by remaining in the wedding business, the company has garnered several high-profile jobs as well. continued on page 22
PHOTO BY CHRISTOPHER FRYER Southern Indiana Business Source | July 2014
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COVER: SUP continued from page xx SUP helped with booking entertainment and other services for Downs after Dark at Churchill Downs in 2010, and has been involved with the annual Barnstable-Brown Gala. Anyone who has attended a Harvest Homecoming Business Luncheon is likely to remember the animated Rogers, who has embodied the energy and loose nature of the event while serving as the emcee. SUP also manages the Jeffersonville Riverstage entertainment. With the Big Four Pedestrian Bridge open, Hughes said the city’s riverfront is becoming a prime location for regional entertainment. “Jeffersonville is knocking it out of the park,” Hughes said. And there’s a plethora of talent to choose from in Southern Indiana when it comes to bands and musicians. “There’s just some killer local entertainment here,” Rogers said. SUP has seven full-time employees and also hires several contract workers for various events. They work hard but they enjoy their jobs too, as one
might expect in the party planning line of employment. “We’re fortunate that we have an unbelievable team,” Rogers said. The owners admit they have different styles when it comes to management and business, as Rogers confessed he doesn’t comprehend the word “no” too well when it comes to projects. He doesn’t believe there’s a job too big for SUP, and Rogers conceded Hughes has to reel him in sometimes. Hughes is a steady and calming force for SUP, and the duo’s success speaks for itself. “It’s been an unbelievable partnership for us because we’re able to see what the other one doesn’t,” Rogers said. SUP plans and oversees a multitude of private events each year, and works closely with many area nonprofits. While the business has certainly grown since its inception, Hughes and Rogers said they can sleep soundly at night because they believe their rates are fair. It’s a locally-owned business run by two Southern Indiana guys with a lot of
ties to the community and a passion for Clark and Floyd Counties, they said. “We have a plan to expand and grow,” Hughes said. “We’re not going to do it until we can do it right.” While SUP has garnered a strong client base locally, the business isn’t restricted to Indiana and Kentucky. SUP has managed events in 18 states from California to Massachusetts. SUP’s niche is that its able to combine the experience of planning smaller events and weddings with the capability to produce large scale corporate parties and concerts. Being able to serve a wide range of party and event needs helped keep SUP moving in the right direction even when the economy soured five years ago. “When everyone else’s business took a nose dive, we were growing,” Hughes said. SUP has been recognized locally for excellence. It received One Southern Indiana’s Business of the Year Award in 2014 for businesses with less than 25 employees.
Sounds Unlimited Productions 1519 Fabricon Blvd. Jeffersonville, IN For booking info: 502-693-6089 chris@supdjs.com On the Web: www.supdjs.com
The owners, staff and crew of Sounds Unlimited Productions stand outside of their location on Fabricon Boulevard in Jeffersonville. PHOTO BY CHRISTOPHER FRYER
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Southern Indiana Business Source | July 2014
SPOTLIGHT
No signs of slowing down STORY BY APRILE RICKERT ENTREPRENEUR: Matt McMahan PHOTO BY CHRISTOPHER FRYER
M
att McMahan, the brains behind The Irish Exit in New Albany and Big Four Burgers + Beer in Jeffersonville, always knew he wanted to be self-employed. The young entrepreneur started buying rental property while he was still in college, and purchased his first restaurant, The Main Menu, in 2005 when he was 22 years old. His latest enterprise, Big Four Burgers + Beer, which opened December 2013, is the eighth venue he’s been involved in, and with two more projects in the works, he’s showing no signs of slowing down. “I love the branding and building the restaurant,” McMahan said. “That’s my marketing background — taking something that’s not doing well and rebranding it and making it something that people go to.” McMahan said although he feels that his direct competition is the slew of restaurants and bars across the bridge in Louisville, he believes that Southern Indiana is growing into a place where residents don’t have to leave to have a great time. “New Albany and Jeffersonville are working great with the businesses to do all sorts of events — there are always things to do on the weekends,” McMahan said. “On the restaurant/bar side of things, there is so much to offer on this side of the river and ‘keep it local,’ I don’t know why many would still cross the bridge.” 24
The Big Four location, at 134 Spring St. in Jeffersonville, was known to residents for years as the biker bar Third Base, until McMahan and his team revamped the place for the new restaurant. Chuck Starcher, head chef and general manager at Big Four Burgers, met McMahan in October 2013 and the two collaborated on creating a place where people could get interesting gourmet burgers — and beer — in a modern and inviting environment. “He wanted to do something cool that nobody else had done,” Starcher said. Starcher said they have worked hard?putting a lot of time, effort and money into making the place look great and have a family-friendly atmosphere, and the community seems to be receiving the new business well. A second location is slated to open in New Albany later this year. “We’re a growing business ... we have our ups and our downs but by the sales and the popularity of our Facebook page, I can tell we’re making the right decisions and going in the right path,” Starcher said. Although much of what it takes to build a business takes place behind the scenes, Starcher said he believes McMahan’s success as an entrepreneur has a lot to do with the social aspect. “One of the great things is that he surrounds himself with successful people, Starcher said. “The management staff we have here are very educated
Southern Indiana Business Source | July 2014
and experienced and all his other businesses, the managers I’ve met with from there all seem like very successful people themselves. When he finds somebody he knows can help him, he takes care of them.” McMahan knows he has a good team, and his advice to business owners runs along these same lines. “If you find good people, pay them good and don’t let them go,” he said. He also stressed the importance of maintaining a consistency with a business that people can trust. “If you do something great, stick to it,” McMahan said. “Don’t do a million different things and lose track of what you do great. Sometimes I lose quality on things I do when I have too much going on.” McMahan said he wants budding entrepreneurs to realize that with hard work and strong focus on goals, they can see their business dreams actualized. “If you have a good work ethic and determination, you can be successful,” he said. FOR MORE INFORMATION Big Four Burgers + Beer: www.bigfourjeff.com or facebook.com/BigFourBurgersBeer The Irish Exit: facebook.com/IrishExitPub
FEATURE
Entry-level entrepreneurs High Schoolers attend business academy BYJEROD CLAPP News and Tribune jerod.clapp@newsandtribune.com
The idea was already put together, they just had to figure out how to sell it. For the second year in a row, 25 students from the region attended Purdue University New Albany College of Technology’s Entrepreneurship Academy at IU Southeast. Jay White, dean of the School of Business at IU Southeast, said the weeklong camp for students isn’t exactly a breeze, either. “We call this an academy, but I call it a boot camp, really,” White said. “But these kids are really self-motivated, they’re taking a week of their summer to do this.” Paul Moses, director of the academy, said the students were divided into five equal groups. They were each given a product concept based on a real idea formulated in one of the Purdue Research Parks across the state. Students stay in one of the residence halls at IU Southeast 26
for the week. After a day of rigorous instruction, they get a break but can work through the night on their projects. With the technology figured out for them, he said they just had to put together a business plan in a few days and market it to a group of judges. Each student had a chance to win $500 in scholarship money to IUS or Purdue. “What it really shows these students is a school that’s very technology and engineering at Purdue and the research park, and a very good business school at IU Southeast,” Moses said. “It really fuses them together. It’s not just about the technology or just about the business, you have to bring them together.” Moses said the academy is based on courses offered to professionals in Purdue’s Foundry program. Juliana Casavan, academy coordinator, said the Foundry has courses that meet once a week for six weeks. She
Southern Indiana Business Source | July 2014
said the academy crams in a lot of the same information in a much shorter timeframe. “They just absorb the information so well, it just makes my job easier,” Casavan said. “What they’re going to do a whole lot of work and figure out what their plan is going to be.” Kunal Bhanushali, an incoming senior at New Albany High School, said he wanted to go through the camp to expand on his ability to serve in different roles within a group. He said while he’s more interested in the technology side of everything, but it’s fun to learn how a product comes into the commercial world. “I thought this would help with my leadership skills,” Bhanushali said. “I’m not always going to lead a project, so I have to learn how to follow, too.” Jake Steele, an incoming senior at Silver Creek High School, said he’s been thinking of ideas for his own business
since he was in the third grade. After watching a real entrepreneur pitch an idea to investors, he said it’s given him some perspective on which of his own ideas are worth the followthrough. “It shows people how sometimes, ideas that they think are really good actually aren’t,” Steele said. “Then again, it shows how their ideas, that they think aren’t very good, are really great. This sort of helps clarify which is which.” White said the academy gives the students an idea of what entrepreneurs go through, but if they take the steps themselves, he said they might be more prepared when they take the leap. “They need to know that making a business isn’t just about hard work for a couple of weeks,” White said. “They’ll bust their humps for a couple of years before they see their dream turn into something real.”
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MARKETING
Three myths about working for yourself
It all sounds great, working for yourself. Get to set your own terms, the hours you want to work and be your own boss, right? Maybe you better think again!
BY VERN ESWINE The Marketing Company
Over my years of teaching people how to develop a business plan, a budget, how to price their products or services and how to market themselves, it still amazes me that many really have not thought through the entire process. Let me explain about working for yourself. First of all, I wouldn’t trade it for anything! I love what I do, the changes that are going on right now and the challenges that come with it. However, there are
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Southern Indiana Business Source | July 2014
some things I have learned I wasn’t prepared for when I started over thirty years ago. MYTH 1: BE MY OWN BOSS
What this really means is being responsible for every decision made, right or wrong. It also means when there is a problem you are the one to fix it. Even when you grow and hire others, it is still your business and your responsibility. As for being your own boss? I have many bosses in the form of my clients. After all, my clients are the ones that drive me and pay me so listening and catering to their needs is of the utmost importance. My needs, and sometimes my family’s needs, have had to come second. MYTH 2: WORK MY OWN HOURS
What this really means is working at the
office and at home and not when you want. Successful entrepreneurs have a passion for what they do and that means it is on their mind around the clock. It also means working longer hours especially in the early years of your business because most of the things that have to be done, have to be accomplished by you. Think about it for a minute. You are the manager, the marketer, the sales person, the secretary and on and on it goes. MYTH 3: WHEN I HIRE SOME PEOPLE IT WILL GET BETTER
While this sounds like a good plan, for many businesses that time never comes. I once had a woman stop in my office to ask me to help her sell her business when I asked her why she said;, “I didn’t sign up for this ... I didn’t plan on being the salesman,
the janitor, the secretary, the web administrator, all I want to do is _______.” Of course my question for her is who did she think was going to do those jobs. When I first started my company, a dear friend of mine who had been in business for many years saw me in the hallway and asked how things were going and my answer was I just hired my first employee. His response was“Now your problems start.” Over the years I have developed a lot of great relationships and friendships that have worked side by side with me and I have had those that had me ready to pack it up. All in all I have worked with some very good and talented people but any business owner will tell you that adding Human Resources and Benefits Director to your job description continued on page 30
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Marketing: Three myths continued from page 29 can be taxing and tiring. So let me make a few suggestions before you start! 1. Love what you do! I mean really love it! Be passionate about your business, your industry and strive to be the best at it. 2. Know your competition. Take time to know their strengths and weaknesses, what they stand for and determine how you can make a difference and be unique. 3. Take time to plan and budget. Do your homework and be realistic but also position yourself for success. One of the biggest mistakes that many small businesses make is having a great concept but growing it too fast. Get at least three years or so of consistent growth behind you before loading up and taking on the world. Your chances for surviving will become much higher. 4. Build a network of good people around you. Take time to get out and build rela-
tionships both personal and business. These relationships can be a great source to pull from during your highs and your lows. 5. Focus on relationships and not dollars. I have found out over the years that focusing on developing strong relationships with my clients is much more important than focusing on budgets. If you focus on building the relationships the money will come. More importantly it will come year after year because the relationship and trust continues to build into more of a partnership. Much better investment for the long term. 6. Give back! We all live and work in a community. Use your expertise, your talent, your gift to help those around you. Sure you will have to set a few boundaries but you will also develop a legacy of pouring into those around you and not being the one that only cares about what they can get. In summary, as I started out, I would not
trade having my own company for anything and I wish you all the best in planning and starting your own. Just remember it is a journey and you can make the trip a hard one or one that provides a wealth of excitement, surprises and even fun. All this and you can make a living at what you love. Pretty cool!
Vern
ESWINE Vern Eswine has been involved in leadership, marketing and business consulting for more than 30 years and is president of The Marketing Company, a branding firm located on Spring Street in New Albany.
Congratulations to all the nominees of 20 Under 40!
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Southern Indiana Business Source | July 2014
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