SCV Business Journal June 2024

The Valley Industry Association presented their first annual Workforce Development Conference on Thursday, May 16. Opening to a full house, the event hosted a panel of high-level SCV business leaders, followed by a keynote address by Seth Mattison. Mattison, an internationally recognized motivational speaker, conducted a dynamic discussion entitled “The Future of Work: Leading a Human-Centered Workplace.”

Opening Comments were provided by Jorge Marquez, Chairman of the Los Angeles County Workforce Development Board, and Senior Vice President, Robert Half. The discussion was moderated by Ed Masterson.

Call for facilitators!

Business Leaders, join the Valley Industry Association and the VIA Education Foundation in mentoring high school students through the VIA Connecting to Success Program. This workforce readiness program, now in its 21st year, covers communication, decisionmaking, financial literacy, banking, credit, workplace ethics, and more. Delivered by local business leaders, it greatly impacts students and enhances the SCV workforce. Event dates are 9/6, 9/20, 10/25, 11/8 and 11/15. Become a Facilitator and make a difference! Contact Kathy Norris at (661) 294-8088 or kathy@via.org.

VIA’s Inaugural Workforce Development Conference Focuses on the Human Element WORLD

Panelists included Gary Corona, DrinkPak, Steve Youlios, Jersey Mike’s Subs, Dale Donohoe, Intertex General Contractors, Josh Abramson, Allbright Painting and Harriet Happel, College of the Canyons. The panel discussion centered around essential skills for the emerging and existing workforces. Each panelist shared insights on their needs, the cultures they are creating, and their investment in their employees.

Mattison led the keynote discussion and actively involved attendees in his presentation, asking for input and opinions, while sharing key points on retaining a business edge through the firm investment in your employees and the strong value of the human element in a changing world of machines, AI access and the need to get the job done quickly. Mattison shared “Leaders think they have to trade growth for humans, but the future is growth through humans.” The event closed with a standing ovation for Mattison.

October 18

Ready to dive into a world of color and celebration? VIA BASH 2024 is gearing up to be the highlight of the year! Mark your calendars for October 18, 2024, and get ready for an explosion of excitement. Tickets and Sponsorships are available now.

WORLD

BY KEN KELLER SCVBJ Contributing Writer

A Cautionary Tale for CEOs A ?

The most important asset any company has is the people working in it. And if the CEO wants to grow the business, however defined, the right people must be on the payroll.

When a company fails to perform, when things go south, in almost every instance, it is because the right people were not on the payroll. And the wrong people were.

One of my tenured clients recently elected to close their doors, permanently. The management team had failed, over more than a few years, to execute. In my opinion, people in critical leadership roles failed to perform.

The CEO, my client, did not heed my repeatedly stated advice that “loyalty can easily become a liability.” By that I mean, people can become stagnant, they fail to learn and grow in their roles and responsibilities, and they have may well have an agenda that runs counter to what the company is trying to accomplish.

What could have been done differently?

The CEO should have had a sounding board of other CEOs to share concerns and to seek advice. That is not a plug for my business. Small and midsize leaders need outside perspective, well beyond the advice of their tax preparer, attorney, wealth management advisor and insurance agent.

CEOs need to be around people who have “been there and done that.” Those on the same journey can provide a unique point of view earned only from firsthand experience.

My client could have used his peer group to ask and to seek input concerning the members of his leadership team. What I think the other CEOs would have likely shared was that selecting and leading “A” players and having them in key positions should be the absolute highest priority.

In this case, family members had critical responsibilities. I have always subscribed to the theory, based on my expe-

rience, that the weakest link in a family business is the family members in it.

Too often, these individuals have not been employed anywhere else which means they lack business perspective. I’ve witnessed family members using their last name, blood relationship or marriage certificate to take liberties not granted to nonfamily members in the company. Using this association often breeds resentment, which impacts productivity and morale.

The other advice the CEO might have asked for is how to let long-term, underperforming employees depart to pursue other external opportunities. I am sure he would have received a tutorial on the subject. This is a common challenge facing CEOs of privately held businesses. This discussion would have gone far beyond the advice of an employment attorney.

When the CEO needed all “A” players on his leadership team, he was handicapped by not having what I considered to be any. But the family members were the weakest.

What is an “A” player? The definition of an “A” player is someone who consistently excels and goes beyond expectations, reinventing and improving new situations. Two things describe individuals of this nature; they take initiative and purposeful action.

Additionally, inside the business, they are a shining example, a beacon, for others; they lead by example. These individuals buy into and live the company core values. They don’t cut corners and they don’t take liberties.

This CEO would have been asked by his CEO peers if the individuals in question on the leadership team were actually “A” players or was he listening to the hype he was hearing from the weak links.

The criterion is simple: if you could hire anyone in the world to do this job, would it be the incumbent?

If there is any doubt, even the slightest, or if the answer is an outright no, this person does not deserve to be categorized as an “A” contributor.

And if you need an “A” player in the role, the next step is to make a change. To make a change requires courage. Not

every CEO possesses this. But a peer group will hold the CEO accountable for moving forward, for making the change. No organization can have all “A” players as much as it is desirable to do so. But “A” players have to be in the key positions in order for a company to be successful.

The problem is that many CEOs, like my client, rate their people as “A” players when they are “B” players, or maybe even “C” players, but because the haze of longevity or tenure in the company hides the true level of contribution, these individuals are overrated.

That problem is made worse because many CEOs do not like to acknowledge that the people reporting directly to them are not “A” players.

I wish things had turned out differently for my client. He kept hoping his people would deliver and they did not. He learned the hard way that hope is not a strategy. I pass this along for every CEO who needs to face the brutal facts that a contributor yesterday may not be contributing today.

Ken Keller is an executive coach who works with small and midsize B2B company owners, CEOs and entrepreneurs. He facilitates formal top executive peer groups for business expansion, including revenue growth, improved internal efficiencies and greater profitability. Keller’s column reflects his own views and not necessarily those of the SCVBJ. Email: Ken.Keller@ strategicadvisoryboards.com. 

Living with Arthritis? Water Workouts Can Provide Relief

JPATRICK MOODY

Henry Mayo Newhall Hospital

oint-friendly water exercises can help ease arthritis pain.

If you could invent the perfect exercise for arthritis, it might be one that lets you strengthen your muscles without lifting weights, improves your flexibility without causing too much pain, and involves running and jumping with no chance of falling.

If that sounds good to you, then take a dive into water workouts. According to the Arthritis Foundation and the American Physical Therapy Association, exercising in water can improve fitness while relieving arthritis pain and stiffness.

Water exercise offers:

„ Buoyancy to support your joints.

„ Resistance to help build muscle strength.

„ Improved balance and a reduced risk of falls.

On top of all that, a heated swimming pool may offer warmth to improve your circulation.

ON YOUR MARK, GET SET, SPLASH!

Many swim centers and community pools offer water exercise classes tailored for people with arthritis. Most classes take place in the shallow end of the pool, so it’s OK if you’re not a strong swimmer. If you’re just starting out, choose a class that matches your fitness level and goals.

Some classes might focus on gentle stretching and improving range of motion. Others provide a more vigorous aerobic workout. Chances are there’s a good fit for you.

You can also try a simple exercise like water walking: In chest- or waist-high water, just walk forward and backward. When you’re ready, increase the intensity by speeding up or mixing in gentle jogging intervals.

GET GEARED UP

All you really need to start is a swimsuit. (Look for one that’s easy to get on and off when dry or wet.) But you might find a few other items helpful as well:

„ Water shoes can give you extra traction on land and in the pool.

„ Webbed water gloves or an inflated water ball can create extra resistance.

„ A flotation vest or foam noodle can keep you afloat in deeper water, where you

might have a greater range of motion. PLAY IT SAFE

Whatever watery workout you choose, make these safety steps a priority:

„ Start slowly and build up to longer, more intense workouts over time.

„ Never push your body through pain during any exercise. You might feel a little stiff or sore at first after a new workout. But talk

with your doctor if pain doesn’t go away with time and rest.

„ Stay hydrated. In the pool, you might not notice that you’re sweating. It’s still a must to drink plenty of water.

Water aerobics classes are offered at Henry Mayo Fitness and Health. To learn more, call 661.200.2348 or visit henrymayofitness. org. „

New Businesses Popping Up All Over SCV

PERRY SMITH

Developing Stories

The Santa Clarita Planning Division approved a half-dozen new locations that residents will see in development around town in the coming weeks, and in some cases, the work is already underway.

And as per usual, the busy activity stretches from the east side to the west side with new places all over town coming online.

Wine connoisseurs might be excited to learn of a new spot on the west side where they can enjoy their sips.

Business owner Diane Kiger is opening up Kindred Spirits, a wine bar that will be taking the spaces that were occupied by Lee’s Bistro and Apollo’s Barbershop VIP Lounge in the 25400 block of Town Center Drive.

Currently, the owner is still making improvements to the location and identified this summer as the goal.

Not far from the new wine bar is a discount store that’s expected to be nestled next to where there currently stands, ironically, a wine store.

The city of Santa Clarita’s Planning Division recently received and approved plans for Dollar Tree at 24245 Magic Mountain Parkway, giving the address that’s currently occupied by an Ulta Beauty.

The announcement of a new Dollar Tree store also comes after news that Dollar Tree is looking to save and reopen several 99 Cents Stores that closed abruptly.

“In April, California-based 99 Cents Only Stores filed for Chapter 11 bankruptcy and subsequently initiated a process to dispose of its assets, including its inventory, owned real estate and store leases,” according to Dollar Tree.

However, Dollar Tree recently acquired 170 of its former competitor’s leases and plans to keep them open.

The city also recently approved renovations for the Chick-fil-A at the Valencia Town Center, as it prepares to consider at least one more new location for the city next to Santa Clarita Lanes.

The renovations for the mall location are believed to be largely aesthetic improvements, according to the information available from the city.

In June, the city’s Planning Commission is expected to review the plans and hear from residents and the developer on the plans for a new location between the bowling alley and the Villa Metro development that would be drive-thru only, and not cater to sit-in dining.

The discussion is supposed to draw some public feedback from nearby residents at the city’s June 18 Planning Commission meeting. The bowling alley owner, which is leasing his property to Chick-fil-A, has promised that every effort is being made to lessen the impacts to neighbors.

There’s also going to be a new coffee shop, a sort-of pop-up location taking part in SCV Hub, a growing food hall with locally owned, made-to-order options.

The coffee shop is opening in the SCV Hub, which is just off Cinema Drive in Valencia.

And because it’s always time for tacos somewhere, Guanatos Tacos is opening

a new location off Via Princessa, in the space that was previously occupied by the now-closed Ay Carumba.

The family-owned restaurant chain touts itself as an “authentic Mexican Restaurant that has been inspired by our family and ancestral home, Guadalajara, Mexico,” according to its website.

The addition of the location at 18540 Via Princessa will make the fifth restaurant, including one in the SCV already in the 21500 block of Soledad Canyon Road.

In the new chains department, the SCV is also getting two new locations on the east side, both at the Plaza at Golden Valley, which is anchored by the Target.

Urbane Café, which comes up on my Google Maps as, “a casual spot for focaccia sandwiches” — I’ll allow it —is opening a new location there. There are currently two in the SCV: one on The Old Road, and one a little farther down the way at Newhall Ranch Road.

And if you’re looking for a sweet treat after your focaccia sandwiches, there will soon also be a Pinkberry in the shopping center where you can enjoy some frozen yogurt 

The shopping center in Valencia anchored by the Target and Ulta Beauty is expected to get a new Dollar Tree store, according to the city’s Planning Division. PHOTO BY DAN WATSON / THE SIGNAL

small business innovation without a big budget

By Irana Wasti Chief Product Officer at BILL

In today’s fast-paced business landscape, it’s important for small business owners to adopt a mindset for innovation. However, the misconception that innovation requires vast resources and significant time investment can often deter entrepreneurs and business builders from pursuing new ideas and strategies. But with the right approach and perspective, small businesses can foster a culture within the company to make innovation more of an ongoing tenet of a successful business.

As small businesses look at their goals for this year, with some businesses also thinking about how to do more with the same, consider these four practical tips to innovate without breaking the bank or spinning too many resources.

1. Nurture an innovation mindset with your team

Innovation starts with your team. Cultivating an innovation mindset among your team members is the first step toward achieving small wins that lead

to breakthroughs. As someone who has led product development teams for over 20 years, I know that the ability and willingness to analyze the environment, listen to feedback, and adapt to change are key disciplines to delivering products that delight customers.

Here are some key aspects to consider:

Embrace diverse perspectives Different backgrounds and experiences bring unique viewpoints that can spark creativity and improve collaboration within your organization. Where you can, build diversity into your hiring strategy.

Foster a culture of openness Create an atmosphere where employees feel safe to share their ideas and insights freely. Make them feel that their opinions matter and that they have a stake in the company’s success. You can do this with monthly brainstorm sessions to get the whole team thinking about different challenges faced by the business. Promote continuous learning Encourage ongoing learning and skills development. There are lots of free online training resources that help employees stay updated on industry trends and emerging technologies.

By nurturing an innovation mindset within your team, you can tap into their collective creativity, which can lead to cost-effective innovations that drive your business forward.

2. Listen to your customers and innovate for them

Research from McKinsey & Company has shown that improving the client experience can increase sales revenues by 2%-7%. However, one common pitfall in innovation is over-engineering solutions that don’t align with your customers’ needs. Prioritize innovation that is rooted in customer feedback, provides value, and aligns with business goals, and is measurable.

Here are a few ways you can build trust with your customers and serve as a pipeline to fuel innovation:

Provide multi-channel support For customers who still need help after navigating your educational resources, offer support across the platforms that matter to them — such as email, social media, SMS, in-app support and more. Leverage techenabled tools, such as finance software that offers

free phone and chat support with live agents. This meets your customers where they are, letting them reach you in a way they find comfortable and convenient.

Deliver a personalized customer experience with AI tools Chatbots make a particularly helpful AI-powered customer support tool. A chatbot can respond to customers in real time, offering additional information about your products or services or even fielding customer service questions. AI-powered marketing tools can be used for content creation, social media management, and more. Chatbots and other AI tools can do more than just answer customer inquiries about your products. The best AI tools can adapt and learn from customer behavior.

Cascade the outside, inside Often customer feedback does not go beyond the customer support team. To help drive more organic innovation, enable regular touch points between team members who face customers and team members who are on the front lines of innovation.

By keeping your customers’ needs at the forefront of your innovation efforts, you can ensure your new ideas are well-targeted.

Lessons From Man’s Best Friend

BY PAUL BUTLER SCVBJ Contributing Writer

Our little dog Elsie recently passed away, and I’ve been reminiscing about the wonderful times we enjoyed together over her 14 years of life.

Elsie was a mutt — a small mix between a dachshund and a terrier. She was such a cutie, so much fun and a great little character. I recall walking Elsie around our neighborhood, and as I commonly do, she wasn’t on her leash.

Please don’t report me to the Homeowners Association, but I found that when walking our block, Elsie would just stick with me. If I walked, she walked. If I stopped, she stopped. If I stopped to say hello and chat with a fellow dog-walker, Elsie would do the same. I led, and she followed.

My wife and I often observed that aggressive and unfriendly dogs seemed to have aggressive and unfriendly owners. Conversely, well-mannered dogs seemed to have friendly owners. We also noticed that owners who spoke negatively of their dogs seemed to have negative and nasty dogs.

If we didn’t know a dog in the neighborhood, we would often give them a heads up as Elsie bounded towards them: “She’s super friendly.”

Sadly, it wasn’t uncommon to see people pick up their dog or yank them away, telling us theirs is “not good with other dogs” or “doesn’t like dogs it doesn’t know,” or the worst we’ve heard, which was: “It hates all other dogs.”

Our neighbors were always astounded when we told them Elsie had never been to any form of obedience training — we just walked her often, fed her well but not too much or too little, loved on her a lot and ensured she got a good night’s sleep.

This all got me thinking about the workplace and the vitally important role leaders have. I wonder whether workplaces would be much better “neighborhoods,” if all leaders were worth following.

Elsie was obedient to us because she trusted us. We very rarely hear the word “obedience” in today’s workplace, as it sounds so dictatorial, dominant and doesn’t appeal to our self-directed compass. However, I am sure we can agree we’re more likely to do what we need to do if we’re working with a leader we trust. We will follow their lead. We’re more open to their directions.

Early in my career, I worked for a leader named Mr. Bould — he was a retired captain of the British Army and was our Managing Director. His name suited him well — he was bold and forthright. He knew what he needed from me. He rarely asked my opinion, but when he did, he listened well and spoke very few words.

Mr. Bould gave clear and decisive instructions as if he were leading us into battle. He was a gentleman. I always knew where I stood with him. He was consistent and insistent that we enjoyed family time together, and he never disturbed me on weekends or evenings.

When my wife gave birth to our first child, Brodie, Mr. Bould was the only colleague who sent a beautiful basket of flowers and some household goodies for my wife.

I was obedient to his lead. He got the best out of me. Interestingly, as I reflect

back, I treated my direct reports, colleagues, and vendors just as Mr. Bould treated me — respectfully, positively, clearly, decisively and always honorably, even when tough decisions were to be made.

There’s a reason we call dogs “a man’s best friend”. We can learn so many things from a dog’s behavior, personality, demeanor, resiliency, and most importantly, the willingness to provide their family members with unconditional love, loyalty, and companionship down to their very last breath.

Organizations all over the world talk about “employee engagement” and will spend countless hours of human resource worrying and strategizing on how to “win talent” or “retain talent” or to “minimize attrition.”

If only we looked more towards the simple life lessons around us — for example, what I’ve learned from Elsie and Mr. Bould — I’m confident we would have more employee engagement and friendly neighborhoods.

Paul Butler is a Santa Clarita resident and a client partner with Newleaf Training and Development of Valencia (newleaftd.com). For questions or comments, email Butler at paul.butler@ newleaftd.com. 

How to Protect Your Ears from Loud Noise

DR. KEVIN BOLDER AuD, Audiology Associates

Exposure to loud noise is a common reason why people develop hearing loss. At least 10 million adults in the U.S. have noise-induced hearing loss. While you can still enjoy loud music or fireworks, repeated exposure for long periods of time can potentially cause serious damage. Learn more on how to protect your hearing.

WHAT IS TOO LOUD?

Sounds are typically measured in decibels (dB). Exposure to sounds over 85 dB can cause noise-induced hearing loss. As the volume increases, your chances of developing hearing loss increases as well. Rock concerts and power tools are 110-120 dB while fireworks are 140-160dB. Prolonged exposure to these noises can cause serious damage to your hearing.

REDUCE YOUR EXPOSURE

The best way to protect your ears from loud noises is to avoid them. Some exposure is fine, but when you’re around loud noise frequently or for a long time, then your hearing can be affected. Be mindful of the volume around you. If you find yourself in a situation with unexpectedly loud noise, try to give yourself some distance from the source.

WEAR HEARING PROTECTION

Some exposure to loud noise is inevitable. When you’re around loud noise, it’s recommended to wear hearing protection, such as earplugs. There are different styles of earplugs available, making it easy to find an option that matches your needs.

HAVE YOUR HEARING EVALUATED

If you’re concerned about hearing loss, schedule an appointment. People who work in loud environments or who participate in loud recreational activities are at an increased risk. Watch out for warning signs, such as if you experience a ringing in your ears or frequently ask people to repeat themselves.

To schedule a hearing evaluation today, please call Audiology Associates at 661-2841900. Kevin Bolder, Au.D and John Davis, Au.D. are two of the best in Santa Clarita and San Fernando Valley. Visit our website at www. AudiologyAssociates.net or stop by our office located at 25425 Orchard Village Road, Ste 220, Santa Clarita, CA 91355.

We are hearing healthcare excellence! 

SCV Real Estate Market Stays Busy

BY PERRY SMITH SCV Business Journal Editor

The numbers are going up, up, up for the Santa Clarita Valley real estate market.

SCV real estate market activity in April, the most recent month available, is showing signs of a continued uptick in activity that should have Realtors and sellers happy.

The number of active listings for Santa Clarita Valley homes is nowhere near the five-year pre-pandemic high, just over 920 in April 2019. But the number is growing.

Active listings on the real estate market have been on the rise since December, according to data available from the Southland Regional Association of Realtors.

The organization, which has the largest listing service of its kind for the area, releases local data for both the Santa Clarita and San Fernando valleys based

on recent market activity.

The number of active listings in February was 436, the number for March was 467 and in April, it was nearly 500 (493).

The average active list price is also approaching $1 million ($945,000), and the median list price increased again, from $800,000 to $820,000 between March and April.

The rental market is still pricey, according to data from Zumper, which recently released its Los Angeles Metro Area Report on the apartment market for the greater L.A. area.

The website “analyzed active listings last month across metro cities to show the most and least expensive cities and cities with the fastest growing rents,” according to a news release issued in May. “The California one-bedroom median rent was $2,035 last month.”

Compared to Beverly Hills and Santa Monica, which each came in about $3,000 a month, the Santa Clarita medi-

an rent of $1,850, which tied with Inglewood, seems affordable. It was ranked 18th-most expensive in Zumper’s analysis.

Nearby Oxnard had the fastest growing rent in the state, which had risen 10.9% compared to the same time last year, according to Zumper.

Santa Clarita’s average rent represented a nearly 10% year-over-year drop, per the same report.

The average list price for condominiums has stayed around for about $630,000, with the market recording a steady rise in activity since December. At that time there were 85 active listingsm and the median sale price was $545,000. There were more than 151 active listings in March and 158 in April.

The single-family home market has seen the same rise over that time period, too, with 264 active listings in December, and 335 in April. 

Val Verde Property Gets Price Reduction

BY PERRY SMITH SCV Business Journal Editor

One of the biggest listings on the residential market in the Santa Clarita Valley for June recently took a haircut as of May 29 of approximately $450,000, according to a Zillow listing online.

The saying is, “location, location, location’ in real estate, and this large lot’s location might be offering a deal because it is located nearby a facility that’s having quite a bit of trouble recently — Chiquita Canyon Landfill.

The online listing is now asking for $5.25 million for a twobedroom, one-and-a-half-bathroom, 1,216-square-foot home that was built in 1939.

The listed agent, Daniel Walsh of Re/Max Santa Clarita, did not respond to a request for comment.

What makes the lot at the end

Jackson Street in Val Verde unique for the market is that it also comes with 64 acres of gated privacy and country living just 15 minutes from the heart of Valencia, and about the same distance from the Highway 126 and Interstate 5 connection. The house has its charms: “two bedrooms, one with its own powder room, the other with a large walk-in closet, and both with doors leading outside ... rustic accents en-

hance the ambiance,” according to the Zillow ad.

The listing also mentions a brick fireplace, a laundry and central heating and air, but the biggest selling point is by far the land’s potential, according to the Realtor’s listing.

“What unfolds beyond the home is a valley that stretches east, extending all the way to the tip of the highest point in the distance, with bountiful flat usable space and majes-

tic views,” the ad states. “The only limit to this land’s potential rests on one side of a door your imagination keeps shut.”

The property lot’s last recorded value was in March 2022, when it was assessed at $1,156,295, according to the most recent information available at the L.A. County Assessor’s Office.

The land is within the disclosure area for the landfill and the recent problems it’s been having, which could be related to the recent price cuts.

But there could be a big upside once the landfill’s issues are mitigated.

After all, the Zillow ad concludes with a very appropriate quote from the famous author Mark Twain: “Buy land, they’re not making it anymore.” 

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Five Steps to Start Investing This Year

BY BRIANNA MCGURRAN

1. Start Investing as Early as Possible Investing when you’re young is one of the best ways to see solid returns on your money. That’s thanks to compound earnings, which means your investment returns start earning their own return. Compounding allows your account balance to snowball over time.

At the same time, people often wonder if it’s possible to get started with a little money. In short: Yes.

Investing with smaller dollar amounts is possible now more than ever, thanks to low or no investment minimums, zero commissions and fractional shares. There are plenty of investments available for relatively small amounts, such as index funds, exchange-traded funds and mutual funds.

If you’re stressed about whether your contribution is enough, focus instead on what amount feels manageable given your financial situation and goals. “It doesn’t matter if it’s $5,000 a month or $50 a month, have a regular contribution to your investments,” says Brent Weiss, a certified financial planner in St. Petersburg, Florida and the co-founder of financial planning firm Facet.

How that works, in practice: Let’s say you invest $200 every month for 10 years and earn a 6% average annual return. At the end of the 10-year period, you’ll have $33,300. Of that amount, $24,200 is money you’ve contributed — those $200 monthly contributions — and $9,100 is interest you’ve earned on your investment.

There will be ups and downs in the stock market, of course, but investing young means you have decades to ride them out — and decades for your money to grow. Start now, even if you must start 2. Decide How Much to Invest

How much you should invest depends on your financial situation, investment goal and when you need to reach it.

One common investment goal is retirement. As a rule of thumb, you want to aim to invest a total of 10% to 15% of your income each year for retirement. That probably sounds unrealistic now, but you can start small and work your way up to it over time.

If you have a retirement account at work, like a 401(k), and it offers matching dollars, your first investing milestone is easy: Contribute at least enough to that account to earn the full match. That’s free money, and you don’t want to miss out on it, especially since your employer match counts toward that goal.

For other investing goals, such as purchasing a home, travel or education, consider your time horizon and the amount you need, then work backwards to break that amount down into monthly or weekly investments.

3. Open an Investment Account

If you’re one of the many investors investing for retirement without access to an employer-sponsored retirement account like a 401(k), you can invest for retirement in an individual retirement account (IRA), like a traditional or Roth IRA.

If you’re investing for another goal, you likely want to avoid retirement accounts — which are designed to be used for retirement and have restrictions about when and how you can take your money back out.

Instead, consider a taxable brokerage account you can withdraw from at any time without paying additional taxes or penalties. Brokerage accounts are also a good option for people who have maxed out their IRA retirement contributions and want to continue investing (as the

contribution limits are often significantly lower for IRAs than employer-sponsored retirement accounts).

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4. Pick an Investment Strategy

Your investment strategy depends on your saving goals, how much money you need to reach them and your time horizon.

If your savings goal is over 20 years away (like retirement), almost all your money can be in stocks. But picking specific stocks can be complicated and time consuming, so for most people, the best way to invest in stocks is through lowcost stock mutual funds, index funds or ETFs.

If you’re saving for a short-term goal and you need the money within five years, the risk associated with stocks means you’re better off keeping your money safe, in an online savings account, cash management account or low-risk investment portfolio.

If you can’t or don’t want to decide, you can open an investment account (including an IRA) through a robo-advisor, an investment management service that uses computer algorithms to build and look after your investment portfolio.

Celebrating API Heritage Month: A Tribute to Cultural Diversity and Business Excellence

In a vibrant and heartwarming celebration, we recently hosted our second annual celebration to honor Asian and Pacific Islander (API) Heritage Month.

The celebration showcased the rich cultural heritage of the API community and underscored the significant role this community plays in our broader business ecosystem.

A Celebration of Culture and Community

API Heritage Month is a time to recognize and celebrate the diverse cultures, traditions, and contributions of the API community.

The Importance of the API Community in the Business Ecosystem

The API community is an integral part of our business ecosystem. Their contributions span across various industries, from technology and healthcare to arts and hospitality. API entrepreneurs and professionals bring unique perspectives, skills, and innovations that drive economic growth and enrich our business landscape.

Economic Contributions

The API community contributes significantly to the local and national economy. API-owned businesses create jobs, drive economic activity, and contribute to the cultural richness of our society. Supporting these businesses helps to ensure a dynamic and resilient economy.

Building a Inclusive Business Community

Celebrating API Heritage Month is not only about honoring the past but also about building a more inclusive and equitable future. By recognizing and supporting the API community, we foster a business environment where diversity is valued and all members have the opportunity to succeed.

The Voice of Business

The SCV Chamber believes that our strength lies in our diversity. We are dedicated to providing ongoing support to the API community and all minority groups within our business ecosystem. This includes offering resources, networking opportunities, and platforms for showcasing their contributions and talents.

The celebration of API Heritage Month is a vital reminder of the importance of cultural diversity in our business ecosystem. By recognizing and supporting the contributions of the API community, we not only honor their heritage but also strengthen our collective future. Together, we can build a thriving, inclusive, and innovative business community that benefits everyone.

For more information on upcoming API Council events and how to get involved, please contact us at hello@scvchamber.com. Let’s continue to celebrate and support our diverse business community!

The Voice(s) of Business Podcast

We are excited to announce that the first two episodes of The Voice(s) of Business podcast are now live and ready for you to enjoy!

Whether you’re commuting, working out, or relaxing at home, you can listen to our podcast on any platform where you typically enjoy your favorite shows.

Don’t miss out on the insightful discussions and engaging content we have lined up. Make sure to subscribe to our podcast to stay updated with the latest episodes as soon as they drop.

If you’re interested in being featured on an upcoming episode or sponsoring our podcast, we’d love to hear from you!

Please subscribe, share with your friends, and help us grow our podcast community. Happy listening!

From celebrating new businesses opening or marking special occasions and achievements, we continue to be honored being part of your celebrations.

We encourage everyone to come and support our new businesses. All our grand opening/ribbon cuttings are free and open to everyone to attend.

Mayor Cameron Smyth and Mayor Pro-Tem, Bill Miranda congratulates Henry Rodriguez on his 13th Anniversary of his State Farm Agency.

Photo credit: Joie de Vivre Photographie

Congratulations to Henry Rodriguez State Farm on your 13th Anniversary and celebration in May! Go to www.scvinsurance.net to contact and find out more. Thank you to everyone who came out to support him and his team on their special occasion.

Photo credit: Joie de Vivre Photographie

Celebrating SCV Businesses

Congratulations to Hanasaki Sushi Bar on your Grand Opening and celebration in May! Please go visit them at 19315 Plum Canyon Rd Suite A, Santa Clarita or www.hanasakisushi.com. Thank you to everyone who came out to support them on their special occasion.

Photo credit: Joie de Vivre Photographie

City Councilmembers Jason Gibbs and Laurene Weste welcomes and congratulates the leadership of Hanasaki Sushi Bar on their grand opening.

Photo credit: Joie de Vivre Photographie

Do you have a grand opening or anniversary coming up? Email us at hello@scvchamber.com for details about hosting a ribbon cutting ceremony.

Government Affairs Council (Virtual)

June 12 | 10:30 am

We invite you to participate in our monthly Government Affairs Council meeting—a vital forum where we discuss, review, and take action on policy decisions at the local, county, state, and federal levels.

As a proactive advocate for our members, the SCV Chamber is committed to maintaining a healthy and vibrant business climate in one of California’s most business-friendly cities. Our Government Affairs Council plays a pivotal role in shaping legislative policies that support and promote business growth in the Santa Clarita Valley.

At our monthly meetings, attendees have the opportunity to:

Review Policy Decisions: Stay informed about the latest policy developments and legislative initiatives affecting the business community at the local, regional, state, and federal levels.

Engage in Discussions: Participate in meaningful discussions with fellow business leaders, policymakers, and community stakeholders to exchange ideas, share perspectives, and advocate for policies that align with our collective interests.

Take Action: Collaborate with the Chamber and fellow members to develop strategic advocacy efforts and initiatives aimed at advancing our policy priorities and advocating for positive change.

Whether you’re a seasoned advocate or new to the realm of government affairs, your voice matters. Join us as we work together to shape the future of our business community and make a difference in the legislative landscape. Open to all Chamber Members!

For more information or to RSVP for your seat at the table, email us at hello@scvchamber.com.

Business After Hours Mixer at BBSI

June 19 | 5:30 pm

Join us for our June Business After Hours mixer at BBSI, where business representatives from across the Santa Clarita Valley will gather for an evening of networking. Enjoy food, drinks and the chance to forge new connections and reconnect with friends!

Our mixers are a great way to get engaged with our business community in a relaxed and welcoming atmosphere, where ideas are exchanged, knowledge is shared, and potential partnerships are explored. Seize this chance to expand your network, gain new insights, and nurture lasting connections.

To view our full calendar and event details go to www.SCVChamber.com or scan the QR Code to the right.

UPCOMING EVENTS

Investing in Talent Development: The Role of Apprenticeships in SCV’s Growth

ABY JEY WAGNER, ED.D. President & CEO of the Santa Clarita Valley Economic Development Corporation

s businesses in the Santa Clarita Valley establish, expand, and grow, effective recruitment strategies and comprehensive training programs such as apprenticeships become essential. A well-trained workforce can swiftly adapt to industry changes and technological advancements, providing a competitive edge. Workforce development, training, and recruitment are crucial for local businesses, ensuring a steady supply of skilled employees who meet specific company needs

The Registered Apprenticeship Program (RAP) is an adaptable, industry-driven model offering high-quality career pathways. Employers can create tailored training plans aligned with their industry needs, structure on-the-job learning experiences to fit their workplace, and appoint experienced mentors to guide apprentices.

TAILORING APPRENTICESHIPS TO YOUR NEEDS

Registered apprenticeships offer numerous benefits for employers, from bridging skill gaps to fostering diversity and inclusion. Apprenticeships are prudent investments, with funding opportunities available to offset training costs. Employers can tailor these programs to their specific needs, ensuring that apprentices learn the precise skills required for their roles.

EMPOWERING THE WORKFORCE OF TOMORROW

For apprentices, the benefits include hands-on career training, nationally recognized credentials, and debt-free education. This alignment of personal growth with professional development leads to fulfilling careers and meaningful contributions to their organizations. Apprentices emerge as competent professionals, ready to tackle industry challenges and drive innovation while providing a clear path for career development.

A COLLABORATIVE ENDEAVOR

Successful apprenticeship programs rely on collaboration among employers, apprentices, government agencies, intermediaries, and educational institutions. This symbiotic ecosystem nurtures talent and drives economic growth, creating a culture of learning

and innovation that propels businesses

forward.

EMBRACING THE FUTURE: ROBOTICS AI

As robotics and artificial intelligence continue to advance, preparing the future workforce becomes increasingly crucial. Registered apprenticeships serve as strategic tools to equip employees with the skills necessary for these emerging fields. Custom

programs focusing on programming, machine learning, and robotics principles enable businesses to leverage the power of automation and AI while reskilling existing workers for new roles.

For more information and to explore funding opportunities, contact Ondré Seltzer, Vice President of Workforce & Economic Development at SCVEDC, at OndreSeltzer@scvedc.org. 

FINANCE

Continued from page 11

Robo-advisors largely build their portfolios out of low-cost ETFs and index funds. Because they offer low costs and low or no minimums, robos let you get started quickly. They charge a small fee for portfolio management, generally around 0.25% of your account balance.

5. Understand Your Investment Options

Once you decide how to invest, you’ll need to choose what to invest in. Every investment carries risk, and it’s important to understand each instrument, how much risk it carries and whether that risk is aligned with your goals. The most popular investments for those just starting out include:

Stocks

„ A stock is a share of ownership in a single company. Stocks are also known as equities.

„ Stocks are purchased for a share price, which can range from the single digits to a couple thousand dollars, depending on the company. We recommend purchasing stocks through mutual funds, which we’ll detail below.

Bonds

„ A bond is essentially a loan to a company or government entity, which agrees to pay you back in a certain number of years. In the meantime, you get interest.

„ Bonds generally are less risky than stocks because you know exactly when you’ll be paid back and how much

A College Degree Pays Off

BY DIANNE VAN HOOK Chancellor, Santa Clarita Community College District/College of the Canyons

With a fluctuating economy and a national decline in college enrollment, the value of a college education has been called into question.

However, an analysis of the incomes of 5.8 million Americans found that a college education remains a good investment, according to a study published in the American Educational Research Journal.

force training without compromising quality or training. Whether students are working toward completing a certification program or looking to upskill, they should not be burdened by college loan debt to make their dreams a reality.

first year of study. Students who maintain the program’s requirements may have their Promise benefits extended to their second year. That’s two years of free tuition!

To date, the program has helped students save more than $2.3 million in tuition and fees. Of the 4,421 students who have enrolled in Canyons Promise since its launch, nearly half received their associate degree or career certificate within two years.

In fact, the study found that a college education earned a rate of return on investment of 9-10% annually throughout a person’s career in comparison to people who had only finished high school.

At College of the Canyons, we understand the importance of offering an affordable college education and work-

With enrollment fees at $46 per unit, California community colleges have saved families a great deal of money.

At COC, our Canyons Promise program provides increased opportunities for first-time college students who plan to attend full-time.  The program helps students to achieve their educational goals by paying tuition and fees during their

Whether students are looking to complete the coursework required to transfer to a four-year university or are looking to complete a hands-on training program for entry into competitive industry sectors such as welding or low observable technology, COC has the resources to meet their needs.

To learn more about how COC can help you unlock your potential, please visit canyons.edu. 

Economic DEvElopmEnt corporation

INNOVATION

Continued from page 7

3. Ensure your tech tools help you move the business forward

Efficiency is a cornerstone of cost-effective innovation. Leveraging technology to automate manual tasks lets you accomplish more in less time, freeing up valuable staff time to focus on strategic and creative thinking. You want to work with technology partners that can help you customize tools to meet the needs of your business and facilitate integration. Remember that innovation can come from anywhere in your business so keep your automation goals broad.

Here’s how some small businesses have found solutions that make an impact:

Automate financial operations Using technology to eliminate manual activities, such as invoicing, bill payments and financial reporting, helps you streamline operations and reduce human error. It also helps you get back to focusing on what matters to you, your business. Finding a solution that pre-populates invoice information can save business owners, on average, 50% of time on bill pay alone. One of BILL’s customers, Ascent Respiratory Care, a home health care provider that helps patients with respiratory issues, eliminated writing paper checks entirely. “We do not write checks anymore. I would say about 95% of what we do is all paid out via BILL, whether it’s a hard copy check or an electronic payment,” said Ascent Respiratory Care Senior Business Development Associate Heather Thompson.

Use data analysis to uncover business insights more easily Solutions that bring efficiency and optimization to your business can provide valuable analytics that can uncover insights to fuel innovation,

inform your decision-making and identify areas for improvement. Golf Genius has seen firsthand how financial analytics has provided better control, visibility and efficiency. “I believe we’re saving thousands of dollars a quarter as a result of real-time budget tracking. Before [BILL], people would ask where they were against their budgets, and now we know,” says Golf Genius CFO, Lou Lombardo. By harnessing technology to optimize key foundational parts of your business operations, you can achieve cost savings and efficiency gains that contribute to your overall business innovation. For example, BILL’s Financial Operations Platform for SMBs allows businesses to manage and optimize their cash flow all on one platform, delivering the most comprehensive suite of capabilities for SMBs.

4. Don’t be afraid to fail forward

Innovation is inherently risky, and not every idea will yield immediate success. However, the more efficient and automated some functions or processes are, the more a small business can embrace a culture of “failing forward,” where failure is viewed as a learning opportunity rather than a setback. It will help employees have the space and time to be more creative or innovative.

Here’s how to do it:

Encourage experimentation As product leaders, oftentimes we tell our peers: “If experiments aren’t failing often, then you are not experimenting enough.” Encourage your team to experiment with new ideas and approaches, even if they

come with a degree of uncertainty. Build in time to test-run the idea, with an evaluation checkpoint, before implementing it system-wide.

Iterate and refine After an experiment, assess what worked and what didn’t. Use these insights to refine your approach and try again.

Acknowledge lessons learned from failures Celebrate the lessons learned from failures. This will encourage a culture where innovation is valued regardless of the outcome, giving business owners a competitive edge and supporting employee retention.

Remember that many groundbreaking innovations have emerged from a series of trial and error. By embracing failure as a stepping stone to success, your small business can take actionable steps toward building a culture that promotes creative thinking, and develop innovative solutions without a big investment.

In conclusion, innovation isn’t solely reserved for large corporations with deep pockets. Small businesses can thrive in today’s competitive landscape by adopting an innovation mindset, listening to customers, harnessing technology to optimize and adapt to market shifts, and being unafraid to experiment and learn from failures. With the right strategies and a commitment to cost-effective innovation, your small business can stay ahead of the curve.

At BILL, we’re 100% focused on helping SMBs to get more control, visibility, and efficiency in their business. Automating financial operations can be a game changer for your business, saving valuable team time on inefficient manual processes and focusing on high-value strategic tasks instead. BILL helps businesses thrive with technology that is powerful, secure, and easy to integrate and use. To learn more, visit Bill.com/Resources. 

T he L is T F inancia L a dvisors

– Richard Trunzo

Financial

Tourney Road, Ste 201-L, Valencia 91355 • 818-252-1830  bit.ly/3u3G6IQ

Avenue Stanford, Ste 100, Valencia 91355 • 661-255-9555  prosperitasfin.com

2008 Shuper Wealth Management 25743 Hood Way, Stevenson Ranch 91381 • 213-447-7588  www.shuperwm.com

28368 Constellation Road, No. 398 Santa Clarita 91355 • 661-799 0230  connect.thrivent.com/meyer-klein-group Since 1994

Main St., Newhall 91321 • 661-753-9683  www.tfswealth.com

Vance Wealth — John Vance

Summit Circle, Santa Clarita 91350 • 661-775-0950 vancewealth.com

Tax Group 25000 Avenue Stanford, Ste 120, Valencia 91355 • 661-295-9800  vvalenciataxgroup.com

2003

INVEST

you’ll earn. But bonds earn lower long-term returns, so they should make up only a small part of a long-term investment portfolio.

Mutual funds

„ A mutual fund is a mix of investments packaged together. Mutual funds allow investors to skip the work of picking individual stocks and bonds, and instead purchase a diverse collection in one transaction. The inherent diversification of mutual funds makes them generally less risky than individual stocks.

„ Some mutual funds are managed by a professional, but index funds — a type of mutual fund — follow the performance of a specific stock market index, like the S&P 500. By eliminating professional management,

index funds can charge lower fees than actively managed mutual funds.

„ Most 401(k)s offer a curated selection of mutual or index funds with no minimum investment, but outside of those plans, these funds may require a minimum of $1,000 or more.

Exchangetraded Funds

„ Like a mutual fund, an ETF holds many individual investments bundled together. The difference is that ETFs trade throughout the day like a stock and are purchased for a share price.

„ An ETF’s share price is often lower than the minimum investment requirement of a mutual fund, which makes ETFs a good option for new investors or small budgets. Index funds can also be ETFs. „

Reminder of Disabled Veterans’ Tax-Savings

BY JEFF PRANG

Los Angeles County Assessor

Although Memorial Day weekend was the end of last month and with it the unofficial start of summer, I wanted to take a moment this June to spotlight the tax savings’ programs for disabled veterans.

I just don’t think we can’t remind our disabled veterans enough that they’re programs that can save them money on their property tax bills.

The exemption to disabled veterans or the unmarried spouse of a deceased disabled veteran through the Disabled Veterans’ Property Tax Exemption reduces the property tax on the veteran’s primary residence, if they are rated 100% disabled or receive compensation at the 100% rate due to being unable to work. The unmarried surviving spouse of a qualified veteran can also claim the exemption.

The Disabled Veterans’ Exemption is a more advantageous exemption than both the Veterans’ Exemption and the Homeowners’ Exemption. Thus, if a claimant qualifies, the Disabled Veterans’ Exemption should be claimed on the applicant’s primary residence instead of either of those two exemptions A property cannot have more than one of these exemptions in place at the same time.

To be eligible for the exemption, a veteran must have been injured during their military service. The injuries that qualify for the exemption include being blind in both eyes, losing the use of two or more limbs and/or being totally disabled, according to the Department of Veterans Affairs. As such, the disability rating must be issued by the Department of Veterans Affairs. Ratings from personal physicians are not accepted. Although there is no time limit on filing, only up to eight years is retroactively refundable and it starts

We owe a tremendous debt to our veterans, and I say thank you for all that you’ve done, all that you do and all that you will do. Our Democracy is built on your service. I just don’t think we can say it enough.

from the effective date of the disability rating. To receive the full savings, it must be filed by February 15.

There are two levels of this exemption: the basic exemption and the low-income exemption. The basic exemption, also known as the $100,000 exemption, is available to all qualifying claimants. The exemption amount is compounded annually by an inflation factor. For 2024, the basic exemption amount is $169,769, which results in about $1,700 off their property tax bill.

The low-income exemption, also referred to as the $150,000 exemption, is available to qualifying claimants whose annual household income does not exceed a specified income limit. The amounts for both the low-income exemption and the annual income limit are compounded annually by an inflation factor. For 2024, the low-income exemption amount is $254,656 and the annual

household income limit is $76,235. That translates to about $2,500 off their property tax bill.

We owe a tremendous debt to our veterans, and I say thank you for all that you’ve done, all that you do and all that you will do. Our Democracy is built on your service. I just don’t think we can say it enough.

For additional property tax relief programs, visit assessor.lacounty.gov/exclusions-tax-relief or call 213-974-3211.

Los Angeles County Assessor Jeff Prang leads the largest local public property assessment agency in the nation. His office of about 1,400 appraisers and support staff are dedicated to creating an accurate and timely property Assessment Roll. This year, the Los Angeles County Assessor’s Office conducted more than 2.5 million real estate and business assessments valued at nearly $2 trillion.. 

ADOBE STOCK

Santa Clarita Stock Average

Santa Clarita Stock Average Below you will find a list of local Santa Clarita-based or prominent Santa Clarita companies used for our averages. Each month we will take the average of all these stocks and show that number. Tracking that number from month to month will give you a window into how our local company’s stocks are performing. Last month the index was 3,685.50 and the average price per share was $122.83 This month the

or 2.6% For an average share price of $125.96.

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Drive the 2024 Mercedes-AMG EQE, an all-electric sedan with a thirst for power.