Lynchburg Business Magazine Oct/Nov 2016 by VistaGraphics

Serving the greater Lynchburg regiOn

OctOber/nOveMber 2016

The Nadine Blakely Real Estate Team

Nadine Blakely REALTOR,® ASP, CLHMS, SRES email: nadineblakely@remax.net

(434) 444-2226

Stuart Blakely REALTOR®

email: stuartblakely@remax.net

(434) 401-9214

www.NadineBlakelyHomes.com

“Your Neighborhood Real Estate Specialists” Nadine SELLS over 100 HOMES every year! Nadine Blakely, REALTOR® is the #1 Agent in the Lynchburg area * and #1 in the State of Virginia for RE/MAX. Need to SELL?

Planning to RELOCATE?

Nadine Blakely, REALTOR,® Has Received A National Ranking Among All Real Estate Company Brands

Want to BUY? ®

1st Olympic, REALTORS® Lynchburg Ag ent Recognized in Elite Nation al Survey Nadine Blakely Ranked Among

ou on your ngratulate y o c y ll ousand” a n o ers ds “The Th n re T I want to p L A E the 2016 R nt to your ranking in is a testame t n e m e service v ie h c utstanding o e th list! This a d n a ork ethic incredible w yers and sellers. e bu you provid vement! n your achie o in a g a e c tions on Congratula s, Best Regard

er Dave Linig EO, RE/MAX C er d Co-Found n Chairman a

RE/MAX® 1st Olympic, REALTORS® (434) 832-1100 * Based on information from the Lynchburg Association of REALTORS® MLS for the period Jan. 1, 2015 through Dec. 31, 2015

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E s t . 1 8 9 3 Ro a n o k e

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Woods Rogers PLC and Edmunds & Williams P.C. are joining forces to enhance legal services for clients in Virginia and beyond. On behalf of our more than 75 attorneys, we look forward to serving you as one firm beginning October 1, 2016. We invite you to give us a call or visit woodsrogers.com to learn more.

Woods Rogers Edmunds & Williams: LYNCHBURG Woods Rogers: ROANOKE | CHARLOTTESVILLE | RICHMOND | DANVILLE P. (800) 552-4529 | woodsrogers.com

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LIBERT YM O U NTAI NC ONFERENCECEN T ER .C O M (434) 592-5600 | LMCC@liberty.edu | 3700 Candlers Mountain Road, Lynchburg, Va. 24502

Team

Karl Miller Dalton & Company, Inc.

The Karl Miller Team values the relationships that have been built over the years, and we would just like to say thank you to all our past, present and future clients for allowing us the opportunity to serve you.

Call us to find out how we can help you get to where you want to go!

(434) 239-2394 | www.karlmillerteam.com Mark A Dalton & Co Inc.

INSIDE LB

TABLE OF CONTENTS

FEATURES 15

October/November 2016

VETERANS DAY Get Your Business Involved

UPFRONT

9 BY THE NUMBERS

BUSINESS UNDER 10

10 IN THE NEWS

Good Karma Tea Co.

12 MOVERS & SHAKERS 13 LET’S DO LUNCH

Lola’s Mexican Cuisine & Cantina Photo by Nicole S. Johnson

13 PLUGGED IN

LEADING LADIES Joan Foster & Treney L. Tweedy

MILLENNIAL HOME BUYERS What They Want & Why

COLUMNS

23 COMMERCIAL REAL ESTATE

LEADER PROFILE

Evaluating Study Periods

25 REAL ESTATE

Clearing the Appraisal Hurdle

Rich Diddams

49 LEGAL

TOP 20 UNDER 40

2016

Protecting and Enforcing Intellectual Property

55 HEALTHCARE

The Opioid Dilemma

onthe Move s l a i n Millen 33

56 MARKETING

Print is Not Dead!

65 FINANCIAL

Four Common Diversification Missteps

Millennials on the Move

HEALTH MATTERS Making Plastic Surgery Work for You

TECHNOLOGY FEATURE Local Group Visits Baltimore

FACES BEHIND THE PLACES

67 HUMAN RESOURCES Updates to the FLSA

MADE IN LYNCHBURG

74 SLATOR, LLC

EXECUTIVE CAR GUIDE

BUSINESS OVER 10 WLNI 105.9 FM

is Excited to Announce the Launch of an ALL NEW WEBSITE Great New Content • Article Ratings • Contests • Trending Items • And Much More!

www.LynchburgBusinessMag.com OCTOBER/NOVEMBER 2016

LynchburgBusinessMag.com

INSIDE LB

EDITOR’S LETTER

o help introduce this year’s class of Top 20 Under 40: Millennials on the Move, I wanted to share “How to Identify a Top 20 Under 40 Honoree in 3 Easy Steps:” 1) “I don’t know how you do it all?” is a question they hear frequently. 2) They desire to improve others around them versus their own status. 3) They tend to champion community and all things local. After being immersed in the words written by and about this year’s class of honorees, I was struck by their incredible enthusiasm and also their sense of personal ownership (read their words for yourself starting on page 33). More than one said something akin to “If you want to see change, then you need to do something about it.” And they have. Among this year’s nominees you’ll see executive directors for regional nonprofit organizations, several educators and mentors, numerous entrepreneurs who decided to scrap the rule books and just try something new. You’ll read their words and hopefully find inspiration for your own dreams—I know I have. More than anything, I hope you are struck by their collective belief in community and the power of togetherness. We learned it in grade school, but it still holds true: there are few forces quite as powerful as teamwork. Unbeknownst to them, several of this year’s honorees actually nominated one another, revealing their dedication to elevating others above self. This class of nominees wants to honor those who are serving, striving and thriving beside them. If that’s not a testament to the power of community not much is. And on the note of millennials, be sure to read our feature on page 27, discussing the housing market and how this demographic is interacting with it in brand new ways. These trends should be indicative of several market developments. We also had a contributor go on location to Baltimore, Maryland, with our regional business development representatives to learn more about budding entrepreneurship and ways to promote business growth locally. Read Suzanne Ramsey’s insights on page 57. Finally, before the close of 2016 and the rush of the impending holidays, it’s our hope that you are mindful of what allows us these opportunities to slow down and enjoy our friends and families. I’m talking, of course, about the sacrifices of our veterans. Too often we forget the incredible sacrifices they made to preserve and protect freedoms we regrettably take for granted. If you know a veteran, reach out. Say thank you. And don’t just wait for November 11 to do so. Do it today, because we are free today and that’s no small reality. (For ideas on how to honor and reach out to local veterans, see our recommendations on page 15.) Best—

Jennifer Redmond, Guest Editor P.S. I have my own thanks for Shelley Basinger in allowing me the chance to step back into editing while she is adjusting to life with a precious newborn. Drop her a line with your well wishes as her family embarks on this new adventure! 8

LynchburgBusinessMag.com

OCTOBER/NOVEMBER 2016

Lynchburg Business Magazine is a bimonthly publication devoted to highlighting Lynchburg-based businesses and those in the surrounding areas of Amherst, Appomattox, Bedford and Campbell Counties, as well as the Town of Altavista. Every other month, 10,000 copies of Lynchburg Business Magazine are distributed by mail to local businesses, executives and individual business decision-makers. The goal of Lynchburg Business is for readers to look to the magazine as a resource worth keeping in their businesses and homes; one that appeals strongly to professionals in our area. Publisher Randy Thompson Managing Editor Shelley Basinger Guest Editor Jennifer Redmond Editorial Director Angela Blue Contributing Writers Barrett Baker, Shelley Basinger, Victor Clark, Nathan Evans, John Hall, Billy Hansen, Emily Hedrick, Megan House, Jamie McAllister, Brent McCraw, Colleen McLaughlin, Drew Menard, Suzanne Ramsey, Jennifer Redmond, Dan Vollmer Vice President of Production Holly Watters Art Director Chris Meligonis Client Relations Manager Brittany Proctor Contributing Designers Josh Haralson, Kaye Ellen Trautman Web Creative Director Chris Murphy Sr. Web Developer & Web Administrator Brandon Litchfield Web Developer Caleb Whitehead SEO Analyst Michael Saks IT Marketing Consultant William Warford Web Marketing & Promotions Manager Kathryn Kelly Photography RJ Goodwin, Suzanne Ramsey, Jennifer Redmond Vice President of Sales & Distribution Paul Brannock Account Executive/Team Leader Missy Celli Account Executives Carolyn Keeling Lead Sales Artist Paul Cenzon Customer Service Representatives Keely Miller, Kiara Davis VistaGraphics Staff Copy Editor Robin Cather Controller Anita Burns Accounting Manager Dawn Meehan Accounting Clerk Kelsey Stephens Office Manager Tracy Thompson Contributing imagery supplied by Thinkstock.com

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SUBSCRIPTIONS Receive Lynchburg Business at work or at home by subscribing today for $9.97 annually. Receive 6 bi-monthly issues: Feb/Mar, Apr/May, June/July, Aug/Sept, Oct/Nov and Dec/Jan. To subscribe, go online to www.LynchburgBusinessMag.com or please send your check payable to VistaGraphics, Inc, 1264 Perimeter Parkway, Virginia Beach, VA 23454, Attn: Circulation Mgr. Please be sure to include your mailing information: name, address, city, state, zip code, and phone number. For changes of address, please email George Carter, Circulation Manager: george@vgnet.com Lynchburg Business is published bimonthly by VistaGraphics, Inc. The corporate office is located at 1264 Perimeter Pkwy, Virginia Beach, VA 23454. © 2016 - all rights reserved. Reproduction of any material prepared by VistaGraphics, Inc., and appearing within this publication is strictly prohibited without express written consent of the publisher. Publisher does not purport to authenticate and is not responsible for claims made by advertisers found within this publication.

DECEMBER/JANUARY 2016-17

ADVERTISING DEADLINES Advertising Space Reservation............................October 31 Editorial & Events...................................................October 31 Final Artwork........................................................ November 5 For Advertising or Distribution Information, Please call 757.213.2461 or email paul@vgnet.com

BY THE NUMBERS

BY THE NUMBERS Stats on the 2016

8 6

Executive Directors

Business Owners

Nonprofit Leaders

5 1

Public Service Positions

Journalist

Firefighter

in Higher Education

QUOTABLES

“One of my personal goals for our city involves continuing our discussions (that will hopefully lead to an action plan) on ways that we can address poverty. I will constantly seek out direction on how we as a community—not just local government—can work together to ensure that all families and individuals in our community thrive.” —Mayor Joan Foster; read more from her interview on page 20. “I listen to all, understanding I don’t have all the answers. Huge egos don’t always get the job done. I believe a humble leader is an impactful leader.” —Vice Mayor Treney Tweedy; read more from her interview on page 21. “I think the greatest strategies for success and productivity are simple to understand but sometimes hard to execute: being on time, being a person with integrity, and honoring your commitments—these will always be force multipliers for success and productivity.” — Rich Diddams; read more from his interview on page 30.

…plus much more starting on page 33.

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UPFRONT

IN THE NEWS ENTREPRENEURSHIP

According to Bentson, the site is not so much a way to advertise a particular service or business, but rather it serves to “educate and empower” businesses to assist each other. The resulting network helps to drive traffic to these different entrepreneurs. The management of Launched in Lynchburg is up to Bentson and her staff members. “Right now we are going to stay in our lane, continuing to flesh out the three sections that we have,” Bentson said. However, a few hopes Bentson has for future Launched in Lynchburg developments include more social interaction, a possible webinar series and real world meetups. “Starting a business is both exciting and terrifying. Initiatives like Launched in Lynchburg provide technical advice but also a feeling of community,” Woofter said. “Having a place to go to connect with peers is a tremendous resource.”

TECHNOLOGY

LAUNCHED IN LYNCHBURG GIVES LOCAL BOOST BY JE R E MY A NGIO NE

ynchburg is home to a rapidly growing entrepreneurial community. Lynchstock, Vector Space, Vintage Lynchburg and El Jefe are just a few examples of the unique startups currently budding in the Hill City. Opportunity Lynchburg, the city’s Office of Economic Development’s business resource branch, capitalized on that industrialist spirit with a more focused program to cultivate a business-savvy community. Launched in Lynchburg went live this past July, but the concept was born out of CO.STARTERS, a nine-week business development program. “The concept was to elevate entrepreneurship in the community by connecting established entrepreneurs with those looking for information directly, in an online platform,” Assistant Director of Economic Development Anna Bentson said. Launched in Lynchburg was designed by local marketing firm 434 Marketing, who are also users of the business resource. The site has a clean look and offers a simple, three-branch model. The Launched in Lynchburg series offers video profiles of affluent local entrepreneurs and their journey to success. The Launch Pad presents entrepreneurs discussing the function and features of their businesses, as well as their hopes for future developments. Additionally, Resource Videos help to empower local business owners by having them present advice on topics that might catch the aspiring entrepreneur off guard. Some topics include: Determining Your Break-Even Point; How to Raise Capital; Identifying Your Brand and many more. “The other thing that we really wanted to do was provide a place for people to connect with each other,” Bentson said. Bentson says that Launched in Lynchburg is a resource for budding entrepreneurs and veterans alike. “A lot of times when you’re starting a business, you’re so hyper-focused on what you’re doing, that it is not always easy to find that network.” Jennifer Woofter, President of Strategic Sustainability Consulting, was a facilitator in the CO.STARTERS program and now uses Launched in Lynchburg as a platform to share her expertise and glean some from others. “Having a group of local experts and colleagues to rely on for questions and support has made me feel right at home in Lynchburg,” Woofter said.

LynchburgBusinessMag.com

OCTOBER/NOVEMBER 2016

AERIAL PHOTOGRAPHY SERVICES FOR THE REGION

n terms of aerial photography, 323 Unmanned Flight Services (UFS) has it covered from great heights with a professional and comprehensive staff of pilots, photographers, videographers and video editors. From marketing videos and special events, to weddings and news events, plus everything in between, 323 UFS offers aerial photography and videography services to capture what is needed in the highest quality. Founded in 2015 by owner and chief pilot Ben Clark, 323 UFS is a relative newcomer to the up-and-coming drone industry in the greater Lynchburg and surrounding regions. Fully insured and Part 107 licensed, 323 UFS operates the most technologically advanced equipment and conducts all flight operations in a two-person flight crew to maximize safety and achieve the greatest results.

MANUFACTURING

BEDFORD-BASED REDCO MACHINE PLANS EXPANSION

edco Machine, Inc., one of the region’s premier manufacturers of precision parts and assemblies, will expand its business in the Town of Bedford, adding up to six new jobs within three years and investing more than $600,000 in new

equipment and facility upgrades. A stable business in Bedford since it opened in 1974, Redco Machine, Inc. manufactures precision, machined components and assemblies for many of the world’s dynamic civilian and government-aligned customers in defense, automotive, nuclear energy, oil and natural gas, medicine and aerospace industries. This expansion includes adding more than $200,000 in new equipment and 5,000 square feet of new operational space in Phase 1, with a long-term plan to add 5,000 more square feet and additional equipment in Phase 2. “We do our part to keep a competitive edge in the business,” explains Troy “Randy” Deeter,

UPFRONT owner. “Our employees have an average of 25 years of experience in their areas of expertise and that helps us to meet the highest quality standards in the industries we serve. This expansion will build upon that competitive edge.” The company currently employs 28 in Bedford County. As a result of this expansion, Redco has job openings in quality control, CNC lathe and CNC mill programming, and Prototrak machining. The Bedford County Economic Development Authority will assist Redco with a cash incentive tied to continued job and investment growth in Bedford. The company plans to break ground this fall.

LEGAL

WOODS ROGERS PLC, EDMUNDS & WILLIAMS P.C. MERGE

nhancing legal services for clients in Virginia and beyond, the law firms of Woods Rogers PLC and Edmunds & Williams P.C. announced they will join forces in Lynchburg effective October 1, 2016. “The merger of Woods Rogers and Edmunds & Williams is a natural fit for both firms,” said Woods Rogers’ President Dan Summerlin. “Edmunds & Williams—the largest firm in Lynchburg—is known and respected for delivering exceptional service to their clients.” Summerlin added, “This merger provides the opportunity for our attorneys collectively to bring enhanced skills, expertise and value to all of our clients. Lynchburg is a significant and growing market strategically located between Woods Rogers’ offices in Roanoke, Charlottesville, Danville and Richmond. On October 1, with the addition of Edmunds & Williams, Woods Rogers will have 78 attorneys in five Virginia offices.” Edmunds & Williams Managing Partner Rick Sorenson said, “This merger allows us to efficiently provide greater services to our existing clients while working side by side with the like-minded Woods Rogers attorneys. The combined firm will also offer us the chance to grow and gain access to a broad spectrum of businesses in Virginia, the mid-Atlantic and beyond.” The firm will operate as Woods Rogers Edmunds & Williams PLC in Lynchburg; it will remain as Woods Rogers PLC in other markets. The largest practice groups in the combined firm will be Banking and Corporate, Labor and Employment, Health Care, Litigation and Tax and Estates. Both Summerlin and Sorenson added, “The synergies of the two firms align closely. Together, we are motivated to grow and broaden legal capabilities and to strengthen client relationships for years to come, all the while delivering focused, effective service.”

HEALTHCARE

NEW FACILITY OPENS

JOHNSON

ohnson Health Center (JHC) H E A L T H C E N T E R purchased a new facility located at 2402 Atherholt Road, Lynchburg. The new JHC facility was formerly the home of Piedmont Eye Center and will open as a Women and Children’s Health Center of Excellence in early 2017 after necessary renovations. The site was chosen due to its size, allowing for much needed room for growth and its ease of access for patients from the surrounding communities. JHC plans to relocate most of its pediatric and OB/Gyn services to the new facility, which will allow for coordinated care for women and children, and comprehensive women’s services as well as prenatal care with delivery at Virginia Baptist Hospital. The facility location is less than two miles from the current JHC Pediatric OB/Gyn center on Federal Street and remains on GLTC’s bus line. JHC is a non-profit federally qualified health center with seven locations in the region.

DOWNTOWN RETAIL

FAVORED FLAVORS OFFERS TASTY SELECTIONS

ince opening a year ago this November, Favored Flavors Tasting Shop & Little Bistro is continuing to offer a variety of high quality flavored olive oils and balsamic vinegars on Main Street in Lynchburg. The storefront is owned and operated by Christina and Jason Long, who wanted to bring the tasting room experience to the Hill City. “Since opening, our lives have been a whirlwind of learning curves and excitement,” Christina said. “Neither of us had previously owned a business prior to [this].” For more information and story hours visit them at www.favoredflavorsllc.com.

CITY AWARD

INTERNATIONAL RECOGNITION FOR LYNCHBURG

he Department of Human Resources for Lynchburg City was recently awarded the 2016 International Public Management Association for Human Resources (IPMA-HR) Small Agency Award for Excellence. The recognition—coming from a professional association—makes it one of the best in the world. City Manager Bonnie Svrcek credits Margaret Schmitt, interim Deputy City Manager, with leading the department to success.

OCTOBER/NOVEMBER 2016

LynchburgBusinessMag.com

UPFRONT

MOVERS & SHAKERS CHARLES HARTGROVE—New Deputy City Manager, serving in Lynchburg City. Hartgrove was appointed by City Manager Bonnie Svrcek and starts this November. Previously, he worked as the Town Manager in Ashland, Va. Hartgrove’s appointment was made following a national search. According to Svrcek, Hartgrove has more than 18 years of experience in local government management. “Charles has a proven track record of building successful partnerships with diverse community stakeholders and successfully improving and providing innovative service delivery,” Svrcek said. “His experience, knowledge, and passion for public service will be a great asset to this community, and I am excited that he will be joining our work family.” TOM COBB—New Vice President and Regional Manager for Appomattox with Bank of the James. Cobb brings more than 20 years of banking experience to the company and was previously employed with The Farmers Bank of Appomattox where he served as Vice President and Indirect Dealer Financing Officer. Cobb is also a graduate of the School of Bank Management at the University of Virginia. J. Patrick Richardson, Senior Vice President and Commercial Banker, said, “As a native of Appomattox, Tom’s banking experience will help continue to build loyalty and deliver banking solutions within the Appomattox community as well as deliver the Bank of the James brand throughout Appomattox.” NICK KESSLER—New Mortgage Loan Officer with Bank of the James Mortgage, a division of Bank of the James. Kessler brings more than 15 years of financial sales experience to the company and was previously employed with Wells Fargo Bank where he served as a Licensed Personal Banker and with the Woodmen of the World Life Insurance Society where he was a Financial Sales Representative. Kessler holds a Virginia Life, Health and Annuity License as well as a FINRA Series 6 & 63. SAJAL NARAYAN—Named Quality Dealer of District 6 for 2016/2017 by the Virginia Independent Automobile Dealers Association (VIADA). Owner of Best Bet Motor Sales Corp., Narayan is an alumnus of Liberty University’s Business School. BEN CLARK—Owner and Chief Pilot of 323 Unmanned Flight Services (UFS). Clark has more than 25 years of experience flying unmanned aerial vehicles and is proud to bring his extensive knowledge and passion for the UAV industry to Lynchburg’s newest aerial photography and videography business.

MANUFACTURING

BEDFORD-BASED SE&M WINS NEW CONTRACTS, EXPANDS

ystems Engineering & Manufacturing, Inc. (SE&M), a Forest-based manufacturer of military equipment, conveyors, and specialized engineering and project management services, will expand its business, adding 10 new jobs and investing more than $700,000 in new equipment over the next three years. This expansion supports several major contracts the company signed in September to design and build components for military and private-sector customers. SE&M is headquartered at its 31,000-square-foot facility on Perrowville Road in Forest. It started in 2000 with just four employees and has since grown to more than 30 fulltime employees and a full-service fabrication and engineering shop. Contracts are with the automotive, consumer products, cosmetics, food and beverage, industrial parts handling, military and pharmaceutical industries. This expansion includes adding new equipment and 10 employees in fabrication and welding over the next several years. The Bedford County Economic Development Authority will assist SE&M with a cash incentive tied to job and investment growth in Bedford County.

NONPROFIT

OUTREACH SUPPORT FOR THE ACADEMY

hile the Academy Center of the Arts has focused many efforts in recent years on its capital campaign, fundraising for regular community outreach and impact is critical to the mission of the organization. Such efforts have been recently supported through gifts of $5,000 from the Wells Fargo Foundation, $23,800 from Virginia Commission for the Arts and $15,000 from the Genworth Foundation. These contributions support Academy programming such as this summer’s collaboration with the YMCA’s annual Summer Learning Loss Prevention program, which provided 150 children with free arts classes and six-weeks of literacy-based education for low-income children who are just below grade level reading. The Academy’s Community Outreach Initiative strives to bring the arts and its benefits to the underserved population present in our community. “These generous contributions not only support the Academy’s current outreach programs but also allow the Academy to explore new outreach opportunities with our partners to make the arts more accessible in Central Virginia,” said Geoffrey Kershner, Executive Director. “In less than a year I have already seen great progress from the Academy in reaching the underserved populations in our community,” said Evan Smith, Director of Community Outreach. “We’re seeing faces that have never been to the Academy before, and we are continuing our work to ensure that we build lasting relationships that lead to continued arts immersion.”

R. Edward Fielding, Inc. parking lot layout & marking

is Excited to Announce the Launch of an tennis courts • athletic tracks industrial safety aisles phone : (434) 845-1740 mobile : fax : (434) 846-2856 (434) 841-8676 refielding@verizon.net 12

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OCTOBER/NOVEMBER 2016

ALL NEW WEBSITE

Great New Content • Article Ratings • Contests • Trending Items • And Much More!

www.LynchburgBusinessMag.com

UPFRONT

PLUGGED IN

OCTOBER 4

OCTOBER 26

35TH ANNUAL LABOR AND EMPLOYMENT SEMINAR

“GET YOUR BUSINESS READY FOR THE HOLIDAYS” AT LUNCH TO LEARN WITH SBDC

The Kirkley Hotel & Conference Center

LET’S DO LUNCH! Lola’s Mexican Cuisine & Cantina CO PY AN D PH OTOS BY J E N N I F E R R E DM O N D

What to Expect: Fresh, authentic Mexican cuisine packed with flavor and value What to Try: If you’re familiar with the Pixar film “Ratatouille,” you may remember the explosions of color and sound that overwhelm Remy’s mind whenever he tastes a transcendental bite of food. And at the risk of a cliché, that’s a pretty apt description of my reaction after trying PicaGuaca, a mix of fresh pico de gallo, chunks of avocado and owner Juan Herrera’s seasoning. Together with his chef, Herrera knows good food and has made it his mission to bring authentic Mexican cuisine to the community. “I enjoyed watching cooking shows as a kid,” he says. From the name of the restaurant (after his mom and several relatives) to the plates (for his home state in Mexico and other locations), Herrera has crafted a menu that’s “different from the competition; it’s less ‘tex-mex’ and more authentic” like what you would find in Mexico. “We have different types of dishes, better quality, a chef who studied in Mexico,” says Herrera. “People like it; they say it’s similar to what they would find in Calfiorinia. They see the difference in the quality and the presentation of the food.” And speaking of presentation, consider the Molcajete Mar y Tierra—literally served in a bowl made from volcanic rock, this dish is packed with four meats and various sides all designed to appear like a small volcano of delicious food. Also impressive are the various lunch plates (most averaging less than $10), served up with chicken, shrimp or steak, and often with a combination of more than one. The Half A. C. Texano (pictured) features grilled shrimp, steak and chicken with fresh vegetables and cheese. The Half Pollo Michoacano (pictured) includes a mixture of grilled chicken and shrimp along with red peppers, and is even better topped with one of their house-made salsas (they have more than five).

The Extras:

Better food doesn’t mean longer wait time; quick turnarounds and affordable, varied menu options promise a great experience. One of Herrera’s most popular offerings are his skinny margaritas. While miming the squeezing of a lime, he describes the unique drinks that have fewer calories but much more flavor and unique options such as rose and pineapple. Herrera’s knowledge of the drinks—he has a background in tequila production—has paid off. Since opening two years ago, “it’s one of our best successes,” he says.

The Experience: Lola’s has a casual feel with subdued Mexican-inspired décor. With an outdoor patio, and a mixture of booths and tables inside the restaurant, they can seat up to groups of 20 and also offer delivery for takeout orders of 10 or more. Herrera offers catering options such as fajitas, taco bars or small burritos for groups of up to 200. With a chuckle, he describes the weekly standing order they have for 70 Burrito a la Mexicanas every week; packed with chicken, steak, shrimp and bacon (plus cactus and pineapple) it’s easy to see why these are his most Location: 3025 Old popular burrito. Forest Road, Lynchburg Herrera, like many of us, is well traveled but finds himself enticed to stay here due to the beautiful landscape RSVP: (434) 385-1600 and easy winters. And lucky for us, his food will continue Hours: Open for lunch to make life better for all of us in the Hill City. weekdays from 11 a.m.

AT A GLANCE

Visit them online at www.lolasmexcuisine.com.

to 2:30 p.m.

8:30 am to 1:00 pm Join Woods Rogers Edmunds & Williams’ attorneys for a half-day of training. Visit www.woodsrogers.com/216 seminars to register and use code “LBURGBUS” for a 15% discount off registration fee.

OCTOBER 4 LUNCH & LEARN SERIES— SPEED NETWORKING PRESENTED BY BACC LEADS GROUP

Bedford Welcome Center, 816 Burks Hill Road, Bedford

Noon to 1:30 p.m. Designed to help you sell yourself through networking and communication. Bring your lunch. Information at sbrown@bedfordareachamber.com.

OCTOBER 5 THE BRIEFCASE OPEN GOLF CLASSIC—SUPPORTING YOUTH EDUCATION INITIATIVES WITH LRBA

Poplar Grove Golf Club, 129 Tavern Lane, Amherst

Merritt Hall, CVCC, Lynchburg

Hear from retail expert Marc Wilson with tips and tricks for a successful season. Information at www.sbdccvcc.org.

NOVEMBER 3 SIPS & SWEETS

Kirkley Hotel & Conference Center, 2900 Candlers Mountain Road, Lynchburg 5:30 to 7:30 p.m. Showcasing business, savoring craft beers and delectable confections with the Lynchburg Regional Business Alliance. Information at (434) 845-5966.

NOVEMBER 5 2ND ANNUAL CASA SUPERHERO RUN SPONSORED BY LIBERTY UNIVERSITY SCHOOL OF LAW

Percival’s Island, Lynchburg

9 a.m. The 5K race is open to all ages and proceeds benefit the work of CASA; register at www. LynchburgSuperheroRun.com.

NOVEMBER 8

1 to 7 p.m. Register your foursome for $450; supports Partners in Education, STEM activities, and the Young Entrepreneurs Academy. Information at (434) 845-5966.

OCTOBER 12 “360 ASSESSMENT OF YOUR BUSINESS” AT LUNCH TO LEARN WITH SBDC

Merritt Hall, CVCC, Lynchburg

A strategic decision making tool called Growthwheel will help your business! Sponsored by Opportunity Lynchburg. Information at www.sbdccvcc.org.

OCTOBER 13 TECHEDGE AWARDS DINNER & SILENT AUCTION

Academy Center of the Arts, 600 Main Street, Lynchburg

5:30 to 8 p.m. Celebrate the Region 2000 Technology Council’s annual awards with dinner and a speech from David Ihrie of the Center for Innovation Technology. Information at (434) 845-5966.

OCTOBER 17 2016 JOB FAIR WITH BEDFORD AREA CHAMBER OF COMMERCE

CVCC Main Campus, Lynchburg

11 a.m. to 4 p.m. 4th annual job fair but the first one to be hosted in the fall; open to the public. Information at (540) 586-9401.

NETWORKING BEFORE NINE WITH BACC

Basket Case, 3831 Old Forest Road, Lynchburg

8 to 9 a.m. Casual networking opportunities before attendees give “30 second commercials” about his or her business. Information at sbrown@bedfordareachamber.com.

NOVEMBER 9 BUSINESS AT BREAKFAST PRESENTED BY THE SUMMIT

The Summit (Wyndhurst), 1400 Enterprise Drive, Lynchburg

7:30 to 9 a.m. Speed networking where you present your business for 2-3 minutes at your table. Bring business cards. Cost is $17 for members; $27 for general admission. Please RSVP at (434) 845-5966.

“VETERANS IN SMALL BUSINESS EXPO” AT LUNCH TO LEARN WITH SBDC

Merritt Hall, CVCC, Lynchburg

See how local veterans affect small business and entrepreneurship. Sponsored by Centra. Information at www.sbdccvcc.org.

NOVEMBER 18 2016 CHRISTMAS MARKET WITH BACC

Location TBD

4 to 8 p.m. The 2nd annual market is a great opportunity to explore local businesses. Information at www.bedfordareachamber.com.

OCTOBER/NOVEMBER 2016

LynchburgBusinessMag.com

Market Square Advisors 2016

What Veterans Day Means to Us

Jeff Macy, CPFA, AIF, M.A. | Market Square Advisors | www.marketsquareadvisors.com | 540-283-9575

VETERANS DAY SP ECIA L A DVERT ISIN G SECT IO N

HONORING VETERANS REVERING VETERANS RAISING FLAGS, AWARENESS & RESPECT Lessons on the History of Veterans Day and Showing Support to Those Who’ve Served BY JAM I E M C AL L I ST ER

very year on November 11th, Americans pause to reflect on the bravery and heroism of the men and women who have defended our country’s freedom. Veterans Day, originally known as Armistice Day in honor of the truce with Germany that essentially ended World War I, was recognized for the first time in 1919 by President Woodrow Wilson. Almost 20 years later, in May of 1938, it was designated a federal holiday. Raymond Weeks, a World War II veteran, began celebrating all who had served, not just soldiers from World War I, and he encouraged the government to formally recognize all former members of the military. That is why, in 1954, President Dwight D. Eisenhower officially renamed the holiday Veterans Day. OCTOBER/NOVEMBER 2016

LynchburgBusinessMag.com

VETERANS DAY SP ECIA L A DVERT ISIN G SECT IO N

A Veterans Day celebration does not have to be elaborate to be meaningful. By taking the time to recognize veterans in your community, you are sending a powerful message about just how much you value their service and commitment. The following are a few suggestions for some meaningful ways you and your business or organization can pay tribute to America’s heroes:

The National D-Day Memorial in Bedford will hold a Veterans Day ceremony on November 11 at 11 a.m. The public is invited and admission is free to attend. Learn more at www.day.org or call (540) 586-DDAY. Photos by Nicole S. Johnson.

Most of us are familiar with the Veterans Day Ceremony held each year at Arlington National Cemetery. The solemn ceremony begins promptly at 11 a.m. with a wreath placed at the Tomb of the Unknowns and continues with a parade of colors put on by veterans’ groups, as well as speeches from some of the country’s top officials. The event is an annual celebration of those who have served in the armed forces, whose patriotism inspired them to sacrifice their personal comforts and safety to protect the lives of their fellow citizens.

Hold a Flag-Raising Ceremony.

Lead participants in reciting the Pledge of Allegiance and singing the National Anthem. Invite local veterans or veterans’ groups to participate. Host a Musical Program. Ask school bands or community music groups to take the stage and perform a selection of patriotic songs. Sponsor a Poster Contest. Businesses can hold a contest encouraging school-aged children to create a poster depicting what Veterans Day means to them. Hang up all entries at the office and share the winners on social media. Pick Up a Book. Librarians at both public and school libraries can create eye-catching displays featuring biographies of military personnel, as well as nonfiction accounts of battles and the time periods during which they took place. Give Back. Organize a group of coworkers, friends or classmates, and donate your time to a charity that provides assistance to veterans or their families. No matter how you choose to mark the occasion, Veterans Day is the ideal opportunity for Americans to thank former service members for everything they have done to defend our country and protect our way of life.

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OCTOBER/NOVEMBER 2016

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OCTOBER/NOVEMBER 2016

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BUSINESS PROFILE UNDER

BUSINESS TEN YEARS

GOOD KARMA TEA CO.

THE SPOT FOR TEA: TEA AND WELLNESS BUSINESS SET TO EXPAND BY EM I LY HED RI C K

hether it is paired with a good book on a rainy day or shared at a social gathering, tea possesses a singular ability to comfort and uplift its drinkers. Local tea wholesaler and retailer Good Karma Tea Co. is taking tea even further by linking tea with wellness practices and giving back to the Lynchburg community in the process.

Lyndsey and Cameo Hoyle.

Cameo and Lyndsey Hoyle co-founded the company about four years ago while living in Colorado. “We knew we wanted a small business of our own and tried many avenues including chocolate and cookies,” says Cameo. “After thinking about our true loves and passions, we landed upon tea. It helped that one of our very good friends owned her own tea company. She taught us the basics about blending, and we knew right away that tea was the perfect fit.” The Hoyles opened a small shop in October 2015 in Riverviews Artspace.

The name Good Karma Tea Co. derives from the owners’ desire to give back to the community. “We were trying to decide on a name as we began creating blends, and several of our blends give a percentage of profits to local organizations such as the Anne Spencer Garden House, local forest conservation and community arts,” Cameo says. “We wanted a name that would represent not only the relationship we have created with Lynchburg as a company but also begin to usher [in] a lifestyle brand.” The lifestyle that Good Karma Tea seeks to promote and support is one of conscious well-being. “Good Karma Tea Co. is dedicated to holistic healing through herbs, tea and wellness practices,” Cameo says. “We strive to foster a community of tea drinkers who live a lifestyle of mind, body, spirit balance and well-being.” According to Cameo, tea and good health go hand and hand: “Tea has many health benefits, and we hope to foster a relationship with avid tea drinkers who sip for more than the already relaxing benefits and who 18

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OCTOBER/NOVEMBER 2016

BUSINESS PROFILE understand its diverse healing properties.” The company also by offering massage, reflexology, reiki and services that currently offers about 30 different teas and continually would promote a holistic healing environment.” adds more; half of these teas are the owners’ own recipes. Downtown Lynchburg has proven to be an ideal Cameo’s favorite tea is their chai and Lyndsey’s favorite is environment for Good Karma Tea. “Lynchburg is an ideal Founded: 2012 their White Hart tea, a spicy black tea inspired by the White place to start a business,” says Cameo. “The Department of Hart Cafe in Lynchburg. Economic Development has put an enormous amount of Located: Riverviews Artspace, After winning a $10,500 grant from Virginia Business effort into bringing small business commerce into this city. 901 Jefferson Street, Launch during Lynchburg Innovation Week in June 2016, Their outreach and resources [for] small business owners Lynchburg Good Karma Tea Co. has moved to a larger space in is incomparable to anywhere we have been. Riverviews Riverviews Artspace as of September. “Our first day [was] Artspace is a nurturing environment for artisans, and Employees: 2 full time September 2nd, during the First Friday Art Walk. We we have found it to be an ideal community for our Signs of Growth: [enjoyed] tastings of our newly added teas and celebrated growth. We are surrounded by other creatives, crafters Grand opening in our newly expanded space!” Cameo said. With a Grand and entrepreneurs who support unique ideas in business. new location; expanded Opening slated for October, this expansion allows for a full Riverviews gives us the built-in cultural community of services in body wellness service urban tea bar, larger retail space and the integration people who already seek out businesses like ours.” of Good Karma Mind and Body, Cameo and Lyndsey’s Details on upcoming events are still to come, but wellness business. “Our space before was so small, there was barely room for Good Karma Tea has several offerings in the works for this fall. “Although not more than three people at a time, and certainly no space to sit and enjoy our currently scheduled with specific dates, we will have tea tastings, pairings, herbal offerings,” says Cameo. “This space allows customers to come in and have a seat classes, reiki workshops and care-for-yourself body work classes, to name a with a cup or pot of tea, expands our retail section, gives us the opportunity to few. Our events will be listed on our Facebook page, web site and the Discover have bulk herbs for patrons, and we’ve added a room for wellness services.” Lynchburg Calendar,” Cameo says. In the meantime, she suggests visiting the Cameo, who has practiced herbal care and body work for more than 15 years, company’s web site (SipGoodKarma.com) for “recipes on cooking with tea, tea says that adding these wellness services “just made sense.” pairing suggestions, herbal remedies and everything tea and wellness.” “Our personal interests and passions in alternative healing really steer the Consumed alone or in good company, tea is meant to be savored as an direction of the company,” she says. “And our philosophy of taking care of the experience, not merely as a beverage. Fittingly, Cameo and Lyndsey are body, mind and spirit as a whole is our foundation. In addition to offering savoring their growth and success as a veritable tea and wellness haven. “We are the teas and tisanes that help with common ailments, strengthen our immune really enjoying where we are now,” says Cameo. “In five years, we hope to still be systems and promote cognitive preservation, we decided to pull in body wellness thriving and opening new doors for our company’s growth.”

AT A GLANCE

OCTOBER/NOVEMBER 2016

LynchburgBusinessMag.com

LEADING LADIES

JOAN FOSTER Occupation:

Mayor of the City of Lynchburg and Director of Development at Lynchburg Beacon of Hope

Hometown: Lynchburg, Va. Tell us about your history with Lynchburg City Council. I was elected in 2002 to Lynchburg City Council as an At- Large Member of Council. I served as Vice Mayor and Mayor for eight years from July 2004 to June 30, 2012. On July 1, 2016, I was selected by my fellow Council members to be the Mayor for the 2016-2018 term. During my tenure as Mayor, I have championed and advocated for the following initiatives: • Dialogue on Race and Racism • Pre-school literacy initiative (The Mayor’s Amazing Book Race) • Live Healthy Lynchburg (www.LiveHealthyLynchburg. com), and challenged the community to lose 12 tons in 2012, which they did by summer of 2012 • The Town and Gown initiative

What made you decide to accept the challenge again? I love serving the City of Lynchburg and the citizens of this wonderful city. I consider this one of the most important jobs that I have ever held in my life and one that I take very seriously. I often tell folks who ask me why I do this that serving this city is a “Labor of Love” for me. I strive every day to show my love and care for people and this very extraordinary city through service to my fellow citizens of Lynchburg.

What are some of your goals for the City in the coming year? Some of my personal goals for our city involve: • Continuing to work with our City to make Lynchburg a “Great Place to Live, Work and Play!” • Working closely with my fellow council members to carry out our council goals, priorities and initiatives. • Continuing our discussions (that will hopefully lead to an action plan) on ways that we can address poverty. I will constantly seek out direction on how we as a community (not just local government) can work together to ensure that all families and individuals in our community thrive. • Continuing to build strong, positive relationships on the local and regional level. • Being available and accessible to our citizens. I have City Hall office hours every Tuesday and encourage citizens to call the Clerk of Council, Valeria Chambers, at (434) 455-3983 to set up an appointment.

Top goals for City Council? The complete list is available on the City’s website, www.lynchburgva.gov. A few of the priorities that City Council adopted in 2015-2016 were: • Continue strong financial management. • Continue to address infrastructure needs and maintenance; this includes water, sewer, and capital projects. • Continue initiatives and establish strategies that will attract and retain and grow companies and industries. 20

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OCTOBER/NOVEMBER 2016

• Maintain a safe community by supporting our public safety departments that protect and serve the citizens of our community. • Continue to work collaboratively with Lynchburg City Schools and all of our local colleges. • Improve the City’s role as facilitator and champion of local and regional efforts.

What is your role with Beacon of Hope? I hold the position of Director of Development with Lynchburg Beacon of Hope, an organization that strives to empower and equip all Lynchburg City public school students to seek higher education by building a pathway between high school and post-secondary education. I work closely with our Executive Director, Laura Hamilton, and the Beacon of Hope Board to raise private funds for operation and scholarships for the project. This will ensure that Lynchburg’s young people will have fair and equitable access to quality education, be financially literate and have opportunities to access higher education in order to ensure a secure future.

What led to your involvement? Lynchburg Beacon of Hope originated from a communal goal that started with the Community Dialogue On Race and Racism. It is a private nonprofit and is a real tangible outcome that grew from an endeavor that private citizens carried forth after the dialogue. I taught for 10 years and have always believed that education is just so important for the success of an individual and ultimately for the success of the community in which that individual resides. I believe that all public school children in our community need to be successful in school and graduate with a plan in place for some form of post-secondary education, whether that is technical or trade school, two year or four year college. I firmly believe that this will help create a stream of qualified and educationally prepared talent that will benefit the greater Lynchburg community’s economic future. What better investment in our community’s future than an investment in our most precious resource: our children! This is why I wanted to be involved with Lynchburg Beacon of Hope.

How would you describe your leadership style? I do well with a team approach where all thoughts are valued. I enjoy reaching general consensus with the team and then working together for the desired result.

What are some challenges you’ve faced over the years? My biggest challenge is always having time to balance all the many “hats” that I enjoy wearing! So over the years, I constantly work on my time management skills. I feel that serving on Council has helped me with time management.

How does it feel to lead the City along with Treney Tweedy and mark a milestone for Lynchburg? I consider it an exceptional privilege to have the opportunity to serve with Treney during such an exciting

time in the history of our city. I am very humbled that my fellow Council members have entrusted me with this leadership role again.

What is your advice to women who are climbing the career ladder? I would advise them to continue to climb if that is what they truly wish to do! The climb is never easy, but they need to hold onto their dreams and let that be their inspiration during times that are not easy on that ladder!

What’s life like outside of work? I have been married to Bob Foster, a pharmacist at Walmart on Wards Road, for 47 years. We have three grown children. Janna, who is married to Andrew Joyner; Hilary, who is married to Johnathan Basham; and Robb, who is married to Samantha Foster. We have six absolutely wonderful grandchildren—Grace, Annie and Lily Joyner, Wyatt and Morgan Basham and River Foster. So needless to say, in my spare time I hang out with my family, which also includes my mother who is 91 years old! I enjoy family gatherings, which are usually at my home and are never dull! I also enjoy serving on The Opera on the James Board, the Inclusive Communities Board, and I am a member of the SPHEX Club. I attend St. John’s Episcopal Church, where I am on the Outreach and Altar Guild committees, as well as the Vestry. If I have any time left over, I enjoy antiquing and traveling!

Closing thoughts? My closing message to our citizens is to always feel free to contact me. As a matter of fact, I encourage all of our citizens to come to a Council meeting, which is held the second and fourth Tuesdays of the month at 7:30 p.m. on the first floor of City Hall in Council Chambers. If there is a group who would like a personal visit to Council Chambers, please don’t hesitate to get in touch with Valeria Chambers at (434) 455-3983 to arrange this. I would be delighted to give them a personal tour and discuss the local government process with the group.

LEADING LADIES

TRENEY L. TWEEDY Occupation:

Senior Director of Workforce and Community Engagement

Hometown: Lynchburg, Va. You are one of the newer members of Lynchburg City Council and also have time with the School Board under your belt. Tell us about your roles with the city over the years. As the Public Information Officer for Lynchburg City Schools, I was a liaison between the community, media and various agencies citywide. I learned that collaboration and building strong networks solves problems and forms effective change. This role prepared me for serving as a School Board Member and now an At-Large City Councilmember.

Why did you want to step into the leadership role of vice mayor? I believe it gives you the opportunity to have a more strategic voice in future planning for our city, and it offers a level of access to information sharing and review that I appreciate.

You will be leading the city with Joan Foster, who has a long history with council and as mayor. What have you learned from her during your time with council? Joan is a strong leader who has a passion for helping people. She is action-oriented and seeks measurable results to meet community needs. I appreciate Joan’s desire to be proactive in addressing citizen issues and concerns.

What excites you the most about being a part of council? The opportunity to participate in the decision-making and guiding processes that affect our future is rewarding. I’m a public servant for our citizens. My colleagues understand wholeheartedly our duties and bring their best talents and gifts to the leadership table.

LEADING THE WAY: Tweedy and Mayor Foster are the first all female team to lead Lynchburg.

What would you say are Lynchburg’s greatest strengths? Industry and business sectors invest in our community, contributing to our great quality of life. Higher-education institutions and nonprofits enhance cultural opportunities. For people starting a business or a family, our city is innovative, and we offer affordable cost-of-living options. We are a caring community.

Greatest weaknesses? We have aging infrastructure that requires continued prioritization of funding to meet the maintenance, replacement and renovation needs throughout the city. We are a landlocked city, so smart growth within city boundaries is imperative.

What is your advice for facing those unique challenges?

Aside from council, you have a career with Goodwill Industries of the Valleys. What do you do there? I facilitate local workforce development programming for employers and job seekers. We offer job readiness and career skills training to individuals with the goal of helping people achieve a better life through work and independence.

What are some ideals you prioritize that make you a better leader? I listen to all, understanding I don’t have all the answers. Huge egos don’t always get the job done. I believe a humble leader is an impactful leader.

Do you believe there any unique challenges faced by women in leadership roles? The challenge lies in others recognizing the leadership attributes we bring to any role. Women prove our leadership daily, in our homes, businesses and community. We organize and multi-task until the work is done. This is our foundation.

Work hard and smart. Be focused, believing in yourself and your abilities. Don’t underestimate the value you bring to the job. Know your worth and don’t fear speaking up.

What is your favorite way to spend your time when you are not working or serving on council? I enjoy traveling around the U.S. and internationally. I like interior decorating and being creative through art projects.

Closing thoughts? I hope we inspire or encourage more people, both women and men, to assume leadership roles in our community, serving on boards and commissions. We should be mentoring and planting seeds for the next generation of public servants. OCTOBER/NOVEMBER 2016

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COMMERCIAL REAL ESTATE Bottom Line: If you think you need a study period, ask for it in your offer. If you definitely need one, insist on it. Either way, don’t make it longer than necessary because the offer will appear weaker in the eyes of the seller as the study period extends.

“LITTLE TO NO SKIN IN THE GAME:”

EVALUATING STUDY PERIODS B Y B I L LY H A N S E N

uyers love them; sellers not so much. What are they? Study periods. For better or worse, they are all but unavoidable in our business and can often come as a surprise to sellers who are expecting a suitcase full of cash and a quick close. Today, many commercial contracts look an awful lot like free options that include relatively small, fully refundable deposits and extended study periods where the buyer can walk away for any reason—or no reason at all. As a buyer, you love it. As a seller, it can put you in an uncomfortable limbo where the property is tied up, the odds of an eventual closing are uncertain, and the final answer is delayed. For the same reason, no broker is excited about a property going under contract until the study period is over because too much can (and does) go wrong to kill a deal. BUYER’S PERSPECTIVE ON STUDY PERIODS The needs of the buyer drive the usage and length of these study periods, which are an opportunity for a buyer to more closely inspect the physical condition of the property, verify and/or clarify legal and zoning issues, secure financing, find a tenant and plan a renovation. Generally, the more question marks and uncertainty surround a deal, the longer the study period will be. Historic rehab properties and land often require the longest study periods, which can stretch from 6 months to a year. On the other hand, the cleanest deals see the shortest study periods. Buyers often say that they can only achieve a certain price with adequate time to study the deal. The buyer will sometimes be willing to reduce or eliminate the study period but only with a significant price reduction or some other significant concession from the seller. For example, an auction scenario can provide that quick, certain close with no strings attached, but the trade-off for the seller is typically reflected in a lower auction price. The best price is often achieved by giving the buyer adequate time to do their homework.

SELLER’S PERSPECTIVE ON STUDY PERIODS After reading the contract, many owners will immediately see the worst-case scenario for a study period and say, “So, they get to tie it up for four months and can walk away up until the very last moment leaving me with little to nothing to show for it?” Essentially: Yes. It’s not ideal, but yes. So, why does a seller take this deal? Why don’t they just counter with a large, nonrefundable deposit and close in 30 to 45 days? They could. If the property is a new listing and garnering significant interest, maybe you can afford to do that and live with it if this particular buyer walks. But what if you’ve been on the market for a year or more without a deal in sight? You might wish the offer was all cash and closed yesterday, but you’ve got to consider the offer in front of you. The negotiation from there often involves how long the study period will be and if any of the deposit will be nonrefundable. Bottom Line: A study period may be necessary to get the price that you want, but make sure that you fully understand and accept all possible outcomes for agreeing to one. SELLER TIP: ASSESSING THE “SKIN IN THE GAME” With a long study period and fully refundable deposit adding up to very little skin in the game, the offer itself does very little to demonstrate a buyer’s seriousness. Instead, the seller and their broker are left to assess the buyer’s seriousness and sincerity independently by their actions and their reputation: Is this buyer real? Are they asking the right questions and taking the right steps forward? Does this buyer seem like the kind of person or group that would intentionally waste time? This question is the big one. Even for a serious buyer, not every contract ends up with a sale for any number of reasons, but they always move forward with their due diligence in good faith. Occasionally, some parties seem to be tying up a property only to leisurely play with the idea of buying it. Often, the only real “skin” that a buyer has in the game is their own time, energy and resources spent in conducting their due diligence and trying to make the deal work, so bet on a buyer that seems to value their own time. HOW STUDY PERIODS PLAY OUT So, you’ve agreed to a 90-day contingency period with a fully refundable deposit, what are the possible outcomes? 1. Due diligence goes well. The buyer moves forward and closes on time at the agreed upon price. Everyone high fives. 2. Issues arise during the study period or maybe the buyer just doesn’t like the deal anymore. The buyer terminates the contract on day 89 and gets their deposit back. Seller and broker are back at square one. 3. The buyer is willing to deal with or take on some of the problems that came up during the study period, but they want more time to work those issues and/or a reduction in the purchase price. While study periods can be a test of a seller’s patience, they are often crucial for the buyer to answer lingering questions or resolve any outstanding issues that will give them, their investors and their lenders the confidence to move forward with the purchase. If the seller’s ultimate goal is to get the property sold, study periods are a well-traveled step along that path. Billy Hansen, MAI serves the Lynchburg area as the principal commercial real estate appraiser of Hansen Realty Advisors, LLC and as an agent with Cushman & Wakefield | Thalhimer. To discuss more, email him at hansenrealtyadvisors@gmail.com.

OCTOBER/NOVEMBER 2016

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REAL ESTATE I have a theory as to why this is: in the majority of residential real estate purchases, the appraisal is not an issue. The buyer and seller agree on a price, the buyer’s lender orders the appraisal, and a few weeks later the report comes in, and the price is validated. Sometimes the listing agent and the seller don’t even know. In terms of impeding the transaction, it doesn’t even qualify as a speed bump. You cruise right over it.

“SURPRISE, SURPRISE!”

Clearing a Hurdle You Forgot Was There: Appraisals B Y DA N VO L L M E R

ome folks love a good surprise. Others, not so much. Take, for example, having a baby. There are some couples who want to learn the baby’s gender in advance, so they can plan, pick a name and gear up in the appropriate colors. Others are “not finderouters”—and those people are crazy. I’m joking…no, these couples prefer to wait until the day of the birth to find out if they’re having a boy or a girl. SURPRISE! And then there are people who like surprises in some areas but not others. My wife, for example, would not have had a happy birthday this year had I thrown her a surprise party. I was warned, and I listened. However…she does love presents, and if I offer her the chance to open a Christmas or birthday gift early, she often declines. She likes those surprises. Here’s my point—there are areas of your life where you can control whether or not something comes as a surprise. But there are many aspects of life where you do not have control and a real estate transaction is one such endeavor. And within the real estate transaction, one hiccup that can catch both buyer and seller by surprise is the appraisal.

WHEN THE APPRAISAL GOES SOUTH And then there are transactions where the buyer pays cash—and in many of those cases there is no appraisal contingency. My point is, we are used to it not being an issue. [Note: I should point out, for my real estate agent friends reading this and getting ready to call/text/email me… a good realtor will always be watching and waiting for the appraisal contingency to be satisfied. But, even they would agree, that, in most cases, they aren’t overly concerned about it.] On top of that, keep in mind that by the time the appraisal report is returned, the home inspection has been completed, any repairs have likely been negotiated, the buyers have signed their loan application a.k.a. the dust has effectively settled while all parties wait for the loan to be approved. Everyone involved has spent weeks emotionally investing in the fact that this deal is happening! And then BAM! Seemingly out of nowhere comes the appraisal—and the value is low. The contract sales price is $200,000, and the appraised value is $190,000. Let me stop right here and say—I know most of the appraisers in town, and the majority are excellent at their job. They perform a necessary function in the transacting of real estate, and they all take that role very seriously. And none of them like to return an appraisal with a lower value. But they must adhere to the standards set before them.They must fulfill their obligation and do it properly. All of these things are fresh in my mind because I very recently had a transaction where the purchaser—even though they were paying cash—opted to have an appraisal performed. And while the seller had agreed to take a healthy discount off the list price, the appraisal report reflected an even lower value. SURPRISE! Really, no one in the transaction—buyers, sellers, agents— saw it coming. TAKEAWAY TIPS So what takeaways can I offer, in light of this and other recent experiences? Here are a few: If you’re a seller, really look at the sold comparable homes your agent presents when you get ready to list. If they do not support the value you want, just know that if you choose to list higher—and even if someone agrees to pay it—you still aren’t over the hurdle. In fact, you may have just raised it. The appraisal can scuttle your entire deal. However, if you feel the value you placed on your home—and more importantly, the value upon which you and the purchaser agreed—is valid and the appraisal does not support it, be prepared to defend it. Or even take it a step further and be proactive—have your agent provide a list of recent improvements and sold comps to share with the appraiser in advance of the report being done. And if you’re a buyer, don’t forget about this hurdle. If you’re emotionally ready for a surprise that never comes…that, in itself, can be a nice little surprise. Have a question or an idea for a future article? Email me at dan@danvollmer.com. Dan Vollmer is an Associate Broker at Re/Max 1st Olympic and member of the Virginia Association of REALTORS Board of Directors. Find him at www.danvollmer.com.

OCTOBER/NOVEMBER 2016

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MILLENNIAL HOME BUYERS

MILLENNIAL HOME BUYERS What They Want and Why BY MEGAN L. HOUSE

hen it comes to real estate nowadays, everything starts online and is a much easier process than it was a few decades ago. The Internet not only allows buyers to view listings, but it also helps them better understand how the buying process works. Although aspects of this advancement are good, the millennial home buyer also faces challenges their parents did not.

“Before I even meet with a client, they’ve already picked out all the houses they want to see,” said Kate Blickenstaff, a millennial herself, who has been a licensed realtor for four years. “Back when my mom got in the business, she would go through and give [clients] the options.” Kate’s mother, Jane Blickenstaff, has worked in real estate since 1977, and said that times have certainly changed. Back when she first started, the Internet didn’t exist, so she would send newspaper clippings of listings to clients and show them homes from books that only realtors could access. “We had no photographs…no virtual tours…or anything that we have now,” Jane said. “This generation is so used to getting everything and all the information. They’re much more educated before [beginning the buying process].”

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MILLENNIAL HOME BUYERS Starting as a realtor shortly after the market crashed in 2009 allowed Betsy Ferguson, who has been a realtor for seven years and is also a millennial, to see the market come back in the Lynchburg area. Not only has she seen the market climb, but she has also noted growing trends among many millennial home buyers.

“They want the HGTV house on a bare minimum budget,” Ferguson said. She added that every homebuyer has to make sacrifices somewhere, no matter what price range they are in.

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“You’re not going to get everything you want—it doesn’t matter if your budget is a $150 thousand or $500 thousand,” Ferguson said. Many millennial home buyers, according to Ferguson, have unrealistic expectations, thinking that their money should buy them more than what it really can. Some millennials are also hesitant to make improvements on their own. “It’s not true for all of them, but many of them don’t want to do the work; they just want to buy the home with all of that stuff done,” Ferguson said. Often millennials conclude that it is worth paying a little more to avoid home improvement projects and costs. Ferguson believes that the mindset of many millennials goes back to how they were raised. “They have this expectation that they deserve something and don’t necessarily want to work as hard for it as their parents did,” Ferguson said. “They see Mom and Dad drive a nice car, and Mom and Dad have a nice house…I deserve that too.” What they might fail to recognize is that it often took “Mom and Dad” more than 20 years to achieve those nice things. “This generation wants it immediately; they want it now,” Ferguson said. TV shows and social media have also impacted the industry. “When our parents were buying, there were home magazines, but there weren’t renovation TV shows and all these things giving ideas…and social media, Pinterest, etc.” Ferguson said. “It’s at the tip of our fingers every day, and it’s ingrained in everything that we do.” This influence can be both positive and negative. “It comes up almost every time I have a new client…we’re talking about ‘Flip or Flop,’ or we’re talking about Pinterest,” Kate Blickenstaff said. “I think it’s helped people to have more of a vision and gives them more ideas.”

Millennial home buyers are typically more informed than previous generations and expect their realtors to be up-to-date with the industry and technology. “They want to see that you’re working,” Ferguson said. “I think that is where the expectation differs.” Millennials desire to see what they’re getting for their money. Times have also changed on the seller’s end of things. Gone are the days when you can simply put a sign in the yard; rather, there are now certain expectations that sellers have. As a listing agent, a huge part of a realtor’s job today is informing the seller of what buyers are currently looking for.

MILLENNIAL HOME BUYERS “Sellers really need to make sure they’re hiring someone who is in tune with what’s going on in the market,” Ferguson said. “It takes more nowadays than just putting a sign in the yard to get the house sold.” Even with technology making it essentially simple to learn about the market, Jane Blickenstaff encourages anyone buying a home to still go through an agent who can interpret the nuances of the market more accurately than a novice. “It’s a pretty big investment,” she said of purchasing or selling a home.

The millennial home buyer also faces many financial challenges that their parents most likely did not, such as student loans. “What I’ve seen really strongly is student loan debt,” Ferguson said. “And that’s scary.” The amount of debt one has will affect the amount of house they can afford because lenders consider one’s debt to income ratio before processing a loan. Even with debt, however, it is still wise to consider purchasing a home versus renting. “The reality of rent is you’re just throwing it out the window,” Ferguson said. “Real estate, especially in Lynchburg … it’s such a great market to invest in.” Between all the colleges and large companies, such as AREVA and Centra, people are constantly coming into the area. “Even if you don’t see yourself living there long

MILLENNIAL Real Estate TIPS MISSY BRAGG / REALTOR Watts Auctions, Reality & Appraisals

20566 Timberlake Rd., Ste. B Lynchburg, VA 24502 missybraggrealtor@gmail.com Mobile: 434-546-1407

Are you a millennial parked at a crossroads when it comes to buying a house? If so, here are some words of wisdom: Yes, you can afford it. Seek advice from home-buying veterans that you trust including your friends and family. Consider numerous options, but don’t overwhelm yourself. Remember to take it slow. Lastly, get a realtor. A realtor can show you various options and help you find the perfect home for you.

term, you can easily hold on to that property and keep it as a rental,” Ferguson said. “Rentals are at an all-time high right now.” Ferguson added that owning a home is a huge responsibility, and young

MilleNNial Real Estate TiPS

people should make sure they are ready to accept the many responsibilities that come with owning a home. “They need to understand going in that you have to take true ownership of owning a home,” Ferguson said. “And part of owning a home is you may have to put a new roof on in the first few years, or you may have to replace the heat pump or something. They need to understand that no one home is going to be perfect.”

She encourages young home buyers to make a list of the things they would love to have and a list of the things they must have now. “It’s fun to dream…Just find that balance of what it is that you need, knowing that some of the projects might not get done right away, and that’s okay,” Ferguson said. “Just enjoy the process of home ownership. Even if it takes a few years to get your home the way you want it, just embrace it.”

RE/MAX® 1st Olympic, REALTORS® (434) 832-0941

NadiNe Blakely RealTOR,® aSP, ClHMS, SReS nadineblakely@remax.net (434) 444-2226

STuaRT Blakely

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incredibly exciting to buy your first home, but WHeRe do you start? Call Nadine Blakely, Realtor, for a FRee Buyer’s Guide, and to discuss the process from looking for a home straight through to the closing table. Credit score is not worthy? i have lenders to guide you and improve your scores. Need lots of money to put down on a home? Not necessarily, call me for all the details TO HelP yOu! OCTOBER/NOVEMBER 2016

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LEADER PROFILE

RICH DIDDAMS Occupation: CEO of CCCxA

Hometown: Grew up in Arizona but Bedford County became home in 2006

Commander’s Concepts Commissioning (CCCxA) is actually your second career. Tell us about your time in the military and the path you took over the years. Being a Marine is a calling and an identity. I will always be a Marine. Some of my duties included the Drill Field, Command (peacetime and war) at various levels, work in Counterterrorism, the Joint Staff as well as serving in Force Recon. I have an engineering background yet served as an Infantry Officer. In the Marine Corps, the idea of engineering is more along the lines of blowing things up. I like this new approach of using my engineering services in more constructive ways.

CCCxA is approved as a Service Disabled Veteran–Owned Small Business. What types of physical challenges do you experience as a result of your military career? I received the Bronze Star with “V” for Valor and the Purple Heart for wounds in combat, but I do not consider myself disabled; particularly when one witnesses the heroes who have served and come home with limits on their ability to live without pain or freedom of movement. I salute each of them. God bless each of them.

Every job has your signature on it—and is a reflection of your own values—so any time we can save resources and improve the quality of work on a project, we will mark that as a success to be proud of.

CCCxA is located in the Center for Advanced Engineering and Research in New London (CAER). Why did you choose this location? This site is a great location and hub of activity. The leadership at CAER is probusiness and is focused on helping the community enhance the area’s capacity for engineering, science, technology and management.

Explain the mission and work of CCCxA.

How will the CAER help your business as it continues to grow?

We are a professional engineering firm that focuses on commissioning. Basically, we provide third party oversight, representing the owner’s interests to ensure their projects are designed as planned. Commissioning has evolved to a state where it is required on many state projects and all federal projects as we look for ways to increase efficiency and reduce friction on projects.

I see the CAER as being a hub for like-minded businesses to mingle and grow together as our community leaders continue with their vision to promote incentives for job creation, and opportunities for professional services and development— particularly for our youth.

Why did you feel a calling to start up this type of business?

My vision and metrics for success focus on how much we can give back to the community and how well we can serve. My goal is to provide a firm that creates opportunities for growth and self-betterment for all our employees.

It was a natural fit where I could use my past experience and skills to do the most good for the most people. CCCxA is actually helping raise the standards at Veterans Affairs (VA) hospitals. Tell us about the work you are doing with those organizations. I am proud of our ability to help the VA as well as contractors raise the standards of what is really important—our veterans. They deserve the best and it is my mission to do my part. Our nation can never adequately thank the men and women who selfishly gave of themselves to preserve our freedom. They deserve the best healthcare available. Our work includes raising the standards at numerous VA hospitals and clinics. 30

Any other past contracts that you are very proud of?

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What are your long term goals for CCCxA?

How would you define your leadership style? I’m convinced leadership comes in many shapes and styles but the core principle is leadership, which is best exemplified by being that person you want from your subordinates. [It’s] leadership by example.

What are some ideals or strategies that you practice for general productivity? I think the greatest strategies for success and productivity are simple to understand but sometimes hard to execute: being on time, being a person with integrity, and

LEADER PROFILE honoring your commitments—these will always be force multipliers for success and productivity.

What’s the best piece of advice you’ve ever received?

UNIQUELY QUALIFIED— Diddams’ military background and focus on leadership prepared him for business ownership and management.

Anyone can be average—so why be average? Be something great.

What one piece of advice would you share with others? Place God first in your life and trust in him.

What’s your history in the area? I found our current home on the Internet while in Iraq back in 2006. The few pictures I saw and the description convinced me this would be my sanctuary once I returned from the Middle East and Central Asia.

What’s life like outside of work? You will find my interests revolve around woodworking as well as raising livestock on our small farm.

What do you enjoy the most about this region? Recognizing that we’ve spent a lot of our time overseas as well as in large cities, my wife and I simply enjoy sitting on our porch in the evening as the sun sets and watching our animals.

Closing thoughts? I am honored to be part of the Bedford community and a supporter of our Chamber of Commerce. Our town and community are fortunate to have the elected and volunteer leadership currently serving our community. What a great place to live!

Renovations to the Centra Support Building

Working Together to Serve the Community OCTOBER/NOVEMBER 2016

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Millennials ontheMove

2016

P O R T R A I T S B Y AU D R A R YG H C R E AT I V E In collaboration with our community partners, Lynchburg Business launched the search for this year’s Top 20 back in May with the purpose of finding the up-and-coming young professionals in the Greater Lynchburg region. The top “20 Under 40” Millennials on the Move represent the best that our region has to offer in young, innovative, creative and motivated talent. And this year’s top 20 class does

not disappoint as it includes a diverse group of young professionals, ranging from entrepreneurs to city planners, educators, journalists and more! Individuals were evaluated on their professional experience above all else in addition to their community investments. In a nutshell, the top 20 are those individuals who consistently strive to better themselves and those around them in their places of work and beyond.

All submissions were evaluated by a panel of individuals from across the business community including representatives from our community sponsor and partners: Young Professionals of Central Virginia, Opportunity Lynchburg and the Lynchburg Regional Business Alliance. Those nominated had to be under the age of 40 and be living and working in the Region 2000 area. OCTOBER/NOVEMBER 2016

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Millennials ontheMove 2016

AARON VAN ALLEN

BIO: District Representative and Service Academy Coordinator for Rep. Bob Goodlatte (VA-6th). Aaron graduated from “The” HampdenSydney College in 2013 with a B.A. in Government and a minor in Public Service. He interned with the Virginia Manufacturers Association and the Danville District Office of Rep. Robert Hurt (VA-5th). In 2015, he completed his M.A. in Public Policy from Liberty University and has been working for Rep. Goodlatte since 2013. He is currently a member of the Lynchburg Morning Rotary Club and holds the President-Elect/ Secretary position for the 2016-2017 year. So far in my career, I am most proud of… the outreach made by the Congressman’s Lynchburg office. Americans often feel disconnected from the federal government; many citizens believe Members of Congress, and their staff, only go to Washington for votes and then go home—they’re completely unaware of the non-legislative casework aspect pertinent to Congressional District Offices. I’m always proud to hear when someone in the community says, “I heard of the services you offered a friend; can you help me?” I want constituents to know that, even when we cannot offer direct assistance, the Congressman is here to help with any federal agency issues. Over the next five years… I can only hope to be a scratch golfer. . .or at least get away from the trees and squirrels. But in all seriousness, I simply want to focus on being a good person. Being a good person makes a good individual; a good individual makes a good spouse; a good spouse makes a good teammate, and a good teammate makes a better community. My inspiration and motivation come from… my parents and my fiancée. My mother and father married young and worked extraordinarily hard to provide my brothers and sister with lives better than what they experienced. And if you want to know tough, you should meet my fiancée Kathleen. She pushes me and makes me a better man—even the times I don’t like it. Something not many people know about me is that… I’m a huge Thomas Jefferson and James Madison nerd. James Madison sat on the founding Board of Trustees at Hampden-Sydney College, but I digress. 34

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EMELYN GWYNN BIO: Main Street Coordinator for the Town of Altavista. Emelyn studied at Lynchburg College, where she received a B.A. in Communication Studies and won the Ester Cutler Thomas Outstanding Student in Speech Communication award. Emelyn interned as a field organizer for the 22nd District House of Delegates campaign and the Lynchburg City Council campaign. She then went on to intern for the Office of Economic Development for the City of Lynchburg, and under their mentorship, moved to her current position in Altavista. So far in my career, I am most proud of… adapting myself to a new community. It takes a lot of time to meet community members, to understand the needs of the community and to get a feel for the unique spirit of the community. Every day, I strive to create the best opportunities that will ensure the optimal success for the locality. Over the next five years… I hope to still be working in a position that gives back to the community and increases the quality of life for everyone. I want to expand my entrepreneurial experience and education to be able to better fulfill this role. I also want to be able to slow down sometimes and enjoy the outdoors, traveling and my lifelong hobby of photography. My inspiration and motivation come from… my grandmother, who is my biggest inspiration and cheerleader. This year she turned 95 years young and has even made an imprint in Lynchburg, as she graduated from RandolphMacon Woman’s College back in 1943. My grandmother was a large part of my youth, and sparked my interest in politics, because she always taught me the importance of ensuring the wellbeing, health and happiness of others. Something not many people know about me is that… I’ve always been fascinated by politics, but it wasn’t until college that my fascination itemized local politics. I have the dream to one day be elected as a local official; I even have my computer login set to “Gwynn4Council” to help motivate me every day.

Millennials ontheMove 2016

BETHANY HILL BIO: Director of Little Wings Preschool at HumanKind. Bethany started with the school in 2008 when she joined the organization as a Lead Teacher and then became the Director in March of 2010. Under her leadership the preschool became the first High Scope Certified Center in Virginia. She also serves as the Public Policy Chair of the Greater Lynchburg Chapter of the Virginia Association for Early Childhood Education. So far in my career, I am most proud of… helping my staff become certified teachers in the High Scope Curriculum and then leading Little Wings to become Virginia’s first High Scope Certified Center.

Over the next five years… we are currently expanding our preschool with an after school program, and I look forward to other ways of possibly expanding our program such as serving infants and toddlers in the future. My inspiration and motivation come from… the Lord. He is my center and everything stems from my relationship with Him. My husband, Andrew Hill, is also my anchor and holds me steady along with my three boys, who are a ton of fun and my constant joy. Something not many people know about me is that… I would really love to take my passion for early childhood education on the mission field and help children across the world reach their full potential. And I play the guitar!

Congratulations to all of the 20 under 40! LY N C H B U R G : The City of Opportunity

For business new, resources, local incentives and more:

w w w. o p p o r t u n i t y l y n c h b u r g . c o m / y o u n g p r o f e s s i o n a l s OCTOBER/NOVEMBER 2016

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Millennials ontheMove 2016

W W W. M U S T H AV E S H O E S . C O M

Congratulations Tanya on your selection as one of Lynchburg Business magazine's Top 20 Under 40!

Hard work never goes out of style.

congratulates

Jordan Welborn

on being chosen as one of Lynchburg Business magazineâ&#x20AC;&#x2122;s Top 20 Under 40! We commend Jordan on her outstanding work in the Campbell County Library system and her dedicated service to our residents.

To learn more about Campbell County and its award-winning library services, visit www.campbellcountyva.gov

Congratulations

EMELYN GWYNN Lynchburg Business Magazineâ&#x20AC;&#x2122;s Top Twenty Under Forty Winner

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Millennials ontheMove 2016

LAUREN BENNETT

BIO: Director of Communications & Experience for Collaborative Health Partners and the CVFP Medical Group. Prior to her current role with CHP and CVFP, Lauren served as the Community Outreach Coordinator for The Orthopaedic Center of Central Virginia. She is an active member of the WorkHealthy Lynchburg Committee, has previously served as Director of Public Relations for the Lynchburg Regional Society for Human Resource Management and is a recent Past President of the Junior League of Lynchburg. She is a Virginia Tech graduate and holds a Bachelor’s Degree in Human Nutrition, Foods and Exercise. So far in my career, I am most proud of… taking two basic concepts—empathy and compassion—and converting them into memorable patient experiences. Training care teams to tap their God-given abilities to bless those around them (patients, coworkers, loved ones) and creating a culture where everybody is made to feel like somebody. Over the next five years… I want to be a relevant and recognized leader in the patient experience industry, motivating and inspiring people to make the world a little better right where they are. My inspiration and motivation come from… a heartfelt desire to love and serve others. For me, it’s not so much about the job or position as it is about serving and loving the people with whom I interact. Something not many people know about me is that… I love interior design, rearranging furniture and all things farmhouse chic.

ELISE SPONTARELLI BIO: Owner/Designer of GetCreative Web Design and Executive Director of Vector Space. As a business owner, Elise works with local and regional businesses to create and maintain beautiful and effective websites. Vector Space is a nonprofit makerspace in downtown Lynchburg, where Elise facilitates community partnerships, teaches hands-on skills and celebrates all forms of making. She also enjoys volunteering with the Junior League of Lynchburg, The Motherhood Collective and the Randolph College Nursery School. So far in my career, I am most proud of… the community space that we’re creating. I love knowing that my kids will grow up watching my husband and I build things and dedicate ourselves to this organization that we believe in. Being part of a space that inspires and encourages both children and adults to keep learning and keep pushing limits is exciting and rewarding. Over the next five years… I would love to see the Lynchburg community embrace Vector Space and for it to be a thriving makerspace. Part of the joy (and fear) of this organization is that we’re not steering it. Our members and students all have input, and future investments will be shaped by their wants and needs. The tools we purchase and the classes we offer are all based on feedback from within. My inspiration and motivation come from… spending time at Vector Space; it is impossible to spend time there and not be inspired. I continue to meet new people with all kinds of knowledge to share and am always learning to use new tools (metal lathe, anyone?). With each new skill comes new ideas and ways to improve my life, the space, our city and the world. My motivation is to help as many people as possible feel the rush of learning something new and accomplishing something they didn’t think they could do. Something not many people know about me is that… I enjoy really corny puns. I am not above even the lamest jokes and will laugh at pretty much any attempt at humor.

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Millennials ontheMove 2016

CARL MATICE BIO: Co-founder, co-owner, and manager of Altus Chocolate, where he enjoys crafting new products from the high-grade cacao they import. Carl is a member of the Lynchburg Morning Rotary Club, a board member of a non-profit camp, and is actively involved in Downtown Lynchburg through his position on the parking authority board and various roles in the downtown business community. He also enjoys being active in the greater Lynchburg area business community through his positions on the Small Business Committee and the Chamber Ambassador team. He was recently nominated by his peers as one of the region’s “Small Business of the Year” nominees through the Lynchburg Regional Business Alliance.

So far in my career, I am most proud of… together with my wife Mary, developing a thriving, fun business that cares about people and gives back to the community. Over the next five years… I am hoping to successfully launch a couple of new stores and to help downtown businesses thrive through the difficult transitions that the new downtown renovation will bring. My inspiration and motivation come from… my wife, who is full of creativity and life and is always making our business look amazing, and other business owners in Lynchburg who are constantly working to make Lynchburg a thriving place to live, work and play. Something not many people know about me is that… I am a huge Star Wars nerd. I am so excited that I get a new Star Wars movie every year now!

KATE SIGLER

BIO: Director of Administration for Virginia Legal Aid Society, Inc., managing the organization’s finances and budget, policy development and compliance, human resources, technology, facilities and records. Kate is a graduate of the University of Virginia and has previously served as the Director of Business Operations for the Council of Independent Colleges in Virginia, as the Practice Administrator of the Northern Virginia Tax Practice of KPMG LLP, and as the Deputy Director of the Office of Advisory Committees and in the Deputy Secretary’s Office for the U.S. Department of Commerce. Kate serves as the Vice President of the Miriam’s House Board of Directors, serves as a vestry member, Sunday School teacher, and flower guild member at St. John’s Episcopal Church, and is a member of the Lynchburg Garden Club. So far in my career, I am most proud of… my early career at the U.S. Department of Commerce; there I was fortunate to have many amazing experiences such as travelling to Kuwait and dining with the President of Colombia; however, what I am most proud of is finally being in a position where my strengths and talents support our advocates in improving the lives of some of the least fortunate in our community. Over the next five years… I would like to see homelessness for women and children eradicated in our communities. It is one of my greatest honors to be a part of that effort through Miriam’s House and the tremendous work they do. My inspiration and motivation come from… my family. If I become half the person that my parents are, I will be proud. My parents are amazing role models and taught me to work hard and follow my dreams. I am also motivated by my two sons—Worth and Will. I hope to teach them through my actions to give back to their community. We are extremely blessed and should give our time, love and money to helping others. Something not many people know about me is that… I met my husband in 5th grade Sunday School, and he told his mother that night that he met the girl he was going to marry.

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OCTOBER/NOVEMBER 2016

Millennials ontheMove 2016

ANTHONY ANDREWS

BIO: Founder and Co-Owner of “Twenty23,” a Men’s Haberdashery, and a 13-year veteran and Master Firefighter with the Lynchburg Fire Department. Anthony is also a childcare provider at Elizabeth’s Early Learning Center and teaches with the Young Entrepreneurs Academy through the Lynchburg Regional Business Alliance. He coaches youth basketball through Parks & Recreation and is on the Board of Directors for the Lynchburg Regional Business Alliance. Anthony was also a recipient of the F.M. “Dink” Cloyd Memorial Award for outstanding service. So far in my career, I am most proud of… the smile on my mom’s face when she sees me drive a fire engine. She still brags on me after all this time, and so I always think about how to keep her smiling. Over the next five years… I will continue to work on my magnum opus, which is to launch and grow a preschool. I believe in early childhood education; I vouch for it, and I have seen the power that it holds. That is my purpose and my passion. My inspiration and motivation come from… the kids who live in College Hill, Diamond Hill and Daniel’s Hill who have a vision but are bound by their circumstances. I was one of those kids. They inspire me to keep pushing forward and to not let my surroundings or my race be my excuse. Something not many people know about me is that… I love model railroading. My uncle worked for Norfolk Southern Railway, and I always wanted to build an HO scale layout with him.

REBEKAH MOODY BIO: Owner and founder of Southern Provisions Company. In six short years, Rebekah has grown her business from her in-home workroom to a retail space in Boonsboro to now, most recently, a 4,000-square-foot midtown retail and design center. So far in my career, I am most proud of… the relationships we have within Southern Provisions Company. I love our team. They allow me to do what I do best, and, in return, I hope I allow them the space, freedom and security to do what they do best. They inspire me and believe in me; they give me a solid platform to be myself (which can be a bit crazy). People often ask me how I do it all—I don’t. Over the next five years… I have big goals; however, I have recently suffered through a few hard blows, so I don’t want to go about carelessly saying what I want to accomplish. For now, I think the best thing for me to say is: stay tuned…shop local…believe in local… without our clients’ continued support and cheerleading, small business owners like myself have nothing but our dreams. My inspiration and motivation come from… family, chocolate and baked goods! Usually starting with the latter! My husband is my biggest advocate and closest friend. Owning a business is not all fun and games, and he is the one who picks me up and sends me back out day after day. Something not many people know about me is that… I owned four Volkswagens at the same time in my twenties, including a bright yellow 1971 Super Beetle.

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JESSICA HUPP

BIO: Business Programs Coordinator of the Bedford County Office of Economic Development. Jessica has served as Board Secretary for Bedford Main Street since 2014, serves on the Bedford-Franklin Regional Rail Initiative committee, provides support to the Bedford County Economic Development Authority and Agricultural Economic Development Advisory Board, and spearheads the state award-winning Bedford One Program which links high school students with local businesses based on their career interests. So far in my career, I am most proud of… my work with the Bedford One Program. Every year we see more students with a better understanding of what they would like to do with their future and students who turned the opportunity of touring a business into a job/internship. Seeing those results makes the hard work of organizing the program so rewarding. Over the next five years… I would like to become a Certified Economic Developer; I love the idea of becoming an expert in the field or earning my master’s degree (maybe both!). I want to always be absorbing as much knowledge and experience as possible for the next five years and the rest of my life. My inspiration and motivation come from… waking up and knowing that what I do every day really does make a positive difference in the lives of others: from students I meet, businesses I talk to, and business owners who create jobs for people who need them. And the positive reinforcement and support from my family and mentors. Something not many people know about me is that… I’m an avid baker; I find it relaxing, and the process of trial and error improves patience. Plus, it’s something I get to share with others, and I get to taste the fruits of my labor when I’m done!

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TANYA FISCHOFF BIO: Marketing Analyst at Consolidated Shoe Company. Tanya serves alongside a team of marketers who value innovation, communication and, of course, awesome shoes. Most recently, Tanya was quoted in articles by Shoe Retailing Today, the Roanoke Times, and publications by VAMP Footwear and the Fashion Footwear Association of New York. Her community involvement includes six years on the board of the Young Professionals of Central Virginia—two as chair— and is dedicated to cultivating a young and vibrant professional community. Tanya also served two terms on the executive board of the Lynchburg Regional Business Alliance. So far in my career, I am most proud of… my focus on growth. Growth in my knowledge, my network and growth in building opportunity. In the last five years, I have multiplied my exposure to different niches of marketing to develop an always-expanding skillset. Each day I discover something new. Over the next five years… my career objective is to seize my strengths. I aim to hone my skillset and build on the niches I’ve developed. This is an exciting next chapter; I’m anxious to refine and grow. My inspiration and motivation come from… the everyday little things, which is simple but true. A reply from a hard-to-reach editor, a checked off project on my to-do list, an encouraging smile from my hubby, even a new bloom on my peace lily. Plus, of course, a new pair of shoes! Something not many people know about me is that… I’ve competed in several local amateur salsa competitions and love to ballroom dance. Why walk when you can waltz?

Millennials ontheMove 2016

Lynchburg College Preparing Leaders for Today and Tomorrow • Doctor of Education in Leadership Studies

• Master of Criminal Justice Leadership

• Master of Education in

Educational Leadership

• Master of Nonprofit

For more information about these and other graduate programs, contact us at gradstudies@ lynchburg.edu or 434.544.8913. Accreditation information www.lynchburg.edu/about-us/ accreditation

Leadership Studies

• Master of Business Administration

A WORLD OF OPPORTUNITIES

www.lynchburg.edu/gradstudies

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GEOFF KERSHNER

BIO: Executive Director at the Academy Center of the Arts. Geoff is the founder of Endstation Theatre Company, now in its 10th year, and remains on their board. He served on faculty at Lynchburg College prior to his time at the Academy and is a member of the Lynchburg Morning Rotary Club and the United Way’s Community Impact Committee. Geoff received the Vice Mayor’s Award of Excellence and was selected for the National Arts Strategies Chief Executive program in 2015.

So far in my career, I am most proud of… my work building the Endstation Theatre Company. The company is in its 10th year and has contributed greatly to the cultural life of the greater Lynchburg community.

Over the next five years… I will continue to shepherd the Academy Center of the Arts into a new era. We will strive to transform our community through arts and culture, by improving, expanding and developing our programs and their reach. With the addition of the historic theatre in 2018, the possibilities are limitless. My inspiration and motivation come from… my beautiful and talented wife [Ashley, also a 2016 honoree] and my incredible and selfless parents. I am also inspired by leaders and mentors in my life, some serving on the Academy’s board right now, teachers from my time at the University of the Arts in Philadelphia and Florida State University, and members of the Philadelphia theatre community. Something not many people know about me is that… I am a quarter Japanese. As a child, I was introduced to Japanese cuisine and customs through my Japanese grandmother, who lived in our home on the beautiful Sweet Briar College campus where I grew up.

ASHLEY KERSHNER

BIO: Executive Director for Lynch’s Landing, Lynchburg’s downtown revitalization organization. Ashley was the Communications and Box Office Director for Endstation Theatre Company for 5 years. Then, as the Marketing and Development Coordinator for Lynchburg Parks and Recreation Department, she secured and executed a $81,000 federal grant for the Lynchburg Community Market and created the “Lynchburg is for Locavores” campaign. Ashley also started Food Truck Thursdays and initiated the now popular Movies in the Park events. She has worked with the Young Professionals of Central Virginia, the Diamond Hill Historic District, Grassroots Local Market, and the Academy Center of the Arts. So far in my career, I am most proud of… developing Food Truck Thursdays, which helped to introduce people from all over our city to Miller Park and to midtown. Watching a very diverse group of people come together every Thursday to celebrate fantastic local food in one of our city’s most beautiful but underutilized parks made me incredibly happy. Over the next five years… I hope to foster innovation, collaboration and positive change in Downtown Lynchburg. It is an exciting time in Downtown, with fast-paced growth thanks to the hard work of so many. Over the next five years, my goal is to help Downtown realize its full potential as the thriving urban heart of our city. My inspiration and motivation come from… having lived all over the country, [and so] I can truly say that Lynchburg is a special place. The natural beauty, the people, the sense of community in our city are all unique, and I am grateful to call Lynchburg my home. My motivation comes from the desire to help improve the city and to help others see what I see in Lynchburg. Something not many people know about me is that… I spent some time cooking at a vegan restaurant in Philadelphia and had the opportunity to cook at the James Beard House in Manhattan. 42

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TIM SAUNDERS BIO: Lynchburg Bureau Chief for WDBJ7. Since starting with WDBJ7 in 2006, Tim has been honored with two Emmy awards and recently won an Edward R. Murrow award for his individual work on the coverage of Sweet Briar College’s possible closing in 2015 from the Radio Television Digital News Association. Tim is an adjunct instructor in the Communication Studies department at Lynchburg College, where he also serves as an advisor to The Critograph student newspaper. Prior to joining WDBJ7, Tim worked at WHSV-TV in Harrisonburg for three years as a weekend anchor, producer and reporter. A native of Bedford County, Tim landed his first job in broadcasting at age 17 when he was hired to edit video for Roanoke’s WSLS-TV. So far in my career, I am most proud of… my coverage of Sweet Briar College in 2015. Thanks to good timing and a well-placed source, I was the first to report that Sweet Briar’s previous leadership planned to close the institution. I stayed with the story until a court settlement allowed the school to remain open, and I’ve worked to follow the outcomes of that decision. My continuing coverage of the Sweet Briar saga was honored with a regional Edward R. Murrow award by the Radio Television Digital News Association in 2016. Over the next five years… I hope to continue growing as a reporter and journalist. I love what I do, and I’m happy that my current position provides me with opportunities to learn something new every day. My inspiration and motivation come from… the many selfless people who pour themselves into this community and work to make it better. Lynchburg is such a special place, filled with dedicated and enthusiastic individuals who are striving every day to improve and maintain our quality of life. I’m motivated to tell stories about the positive things happening in our region. Something not many people know about me is that… I’m a geography nerd and love studying maps, particularly road and transportation maps. I’ve managed to visit all 95 counties in the state of Virginia, simply because I love traveling down different roads and seeing where they end up.

ALEX JOHNSTON BIO: Founder of Cities Reimagined and a consultant for the Lynchburg Economic Development Authority. Alex was formerly the vice chair of the Lynchburg Planning Commission. She holds a bachelor’s and master’s degree in business administration from Liberty University and is a graduate of the prestigious Sorensen Institute for Political Leadership at the University of Virginia. Alex served as a Family Support Worker with Healthy Families Virginia for several years, serving at-risk mothers and children living in poverty. This work led her to a career in community wealth building and social innovation. So far in my career, I am most proud of… my time spent working for Healthy Families, a national organization dedicated to promoting child wellbeing and preventing the abuse and neglect of children through home visiting services. This work was the most challenging but rewarding time in my career and has laid the foundation for how I approach my work now. Over the next five years… I want to be creative. Push the boundaries. Get out of my comfort zone. Cause a stir. Design something beautiful. Exceed expectations. Flip the outdated on its head. Learn something new. Make my community proud. My inspiration and motivation come from… the citizens of our community and my coworkers and friends who care so deeply about our city. Our city has so much potential and a tremendous amount of talent—bringing that to light to share with the world is all the motivation I need! Something not many people know about me is that… one of my favorite things to do in Lynchburg is climb. I started climbing at Rise Up three years ago and have been hooked ever since (no pun intended). This interest has led me to find lots of fun cross training hobbies like slacklining and paddle boarding.

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ABE LOPER

BIO: Owner of The White Hart Cafe in downtown Lynchburg, Blackwater Coffee at River Ridge Mall, and City Place Food & Co. in Wyndhurst. Abe works full-time as a Financial Representative with the Northwestern Mutual Financial Network and serves on the board of directors at CASA of Central Virginia, Horizon Behavioral Health, Bedford Area Chamber of Commerce and the Fellowship of Christian Athletes. He also serves on the Small Business Committee at the Lynchburg Regional Business Alliance and teaches in the School of Business at Liberty University. He is a 2012 graduate of LEAD Virginia and was Lynchburg Business magazine’s first Leader Profile back in December of 2009. So far in my career, I am most proud of… making a difference in my community. I love that I get to employ more than 40 energetic young people. I love that I get to give to dozens of local charities each year. Hands down, the best part of finding success is sharing it. Over the next five years… I’ll spend more time relaxing. The last five years have been hard. I’ve put in a lot of work. I just took my first vacation in six years time. I don’t need my businesses to get bigger, and I don’t want to open anything new. I’m finally finding the “groove” that allows for the right balance of work and play.

ALLISON STRONZA BIO: Executive Director of CASA of Central Virginia (Court Appointed Special Advocates). CASA recruits, trains, and supports volunteers who advocate for abused and neglected children. Prior to her time at CASA, she was the Executive Director for 12 years at Rush Homes, providing affordable housing for people with disabilities. Allison is a member of the Exchange Club of Lynchburg and has served on the board of the Central Virginia Homeless Coalition and Interfaith Outreach Association. In 2012, she was honored as one of the “Top 40 Under 40 in Housing” in Virginia. So far in my career, I am most proud of… leading a nonprofit (Rush Homes) from a grassroots, unknown nonprofit organization with only two homes to a well-respected organization with a track record of producing high quality housing developments. It was like watching a child grow up; I’m very proud and honored to be have been part of that growth. Over the next five years… I want to create financial sustainability for CASA by substantially increasing our donor base and creating an endowment fund. I also want to grow our volunteer base so that we no longer have children waiting for a CASA volunteer but instead have CASA volunteers waiting for a child.

My inspiration and motivation come from… family. Always. I’m motivated by my desire to make my family proud, to set an example for my children and to be a good provider. I’m motivated by my desire to serve my White Hart family (my staff makes fun of me for calling them family, but that’s how I see them).

My inspiration and motivation come from… making a difference. When you see a man with a disability regain his independence with an accessible home, a mother who is homeless get the keys to her new apartment or a child who was abandoned and abused find her new adoptive family—there’s nothing that could motivate me more.

Something not many people know about me is that… I proposed to my wife just seven days after first meeting her. We celebrated eight years together this September.

Something not many people know about me is that… when my husband and I retire, we want to hike the entire Appalachian Trail—all 2,190 miles from Georgia to Maine. We love running, hiking and camping together and are excited to one day take on this six-month adventure!

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Millennials ontheMove 2016

AARON SMITH

BIO: Student Employment Coordinator and Assistant Director of Human Resources at Lynchburg College. Aaron has previously worked for the Boys and Girls Club of Greater Lynchburg and served as the Head Coach of the American Basketball Association’s team Lynchburg Legends. He is highly involved in the community and serves with the United Way and his home church Family Life. He is the author of the book So, I’m a Leader: Now What? published by Outskirts Press Inc. and co-author of an academic article entitled “Countering the Narrative: A Layered Perspective on Supporting Black Males in Education” featured in the University of Pennsylvania’s online journal: Perspectives of Urban Education. He is also the Title IX coordinator for Lynchburg College and serves on multiple committees around campus including the Strategic Planning Committee. Aaron is also taking classes to complete his Ph.D. in Educational Leadership and has been recognized at Lynchburg College and within the broader community as an outstanding leader.

So far in my career, I am most proud of… publishing my first book and co-authoring my first academic article within the same month (November 2015). Over the next five years… I plan to obtain my doctorate in Leadership Studies and pursue a career in academia as a full-time professor. Additionally, I’d like to become even more involved in service opportunities to continue to help the community. My inspiration and motivation come from… my faith, my family and my mentees. My faith provides my inspiration to do all that I’ve been able to do. My family has been my motivation and support to become the best version of myself that I can be. My mentees give me the energy to continue giving back. Something not many people know about me is that… I’m an avid basketball fan. I’m fortunate to be able to provide commentary for Lynchburg College’s Lynchburg Hornet Sports Network during basketball season, which is broadcast online and on the local ESPN radio. I also enjoy spending time with my family, which includes my wife of 10 years, my 11-year-old son and my 2-year-old daughter.

We have room to help your business grow. (540) 587-5670 • bedfordeconomicdevelopment.com Congratulations to Jessica Hupp of Bedford County Economic Development for being selected for Lynchburg Business magazine’s Top 20 under 40!

Southern Provisions congratulates Rebekah Moody, for being chosen as one of Lynchburg Business magazine’s Top 20 Under 40 Professionals

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Millennials ontheMove 2016

Promoting a Vibrant & Engaging Downtown Lynchâ&#x20AC;&#x2122;s Landing congratulates its new Executive Director, Ashley Kershner, for being one of Lynchburg Business magazineâ&#x20AC;&#x2122;s Top 20 Under 40 Professionals

www.downtownlynchburg.com

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Millennials ontheMove 2016

BRYAN SHELTON

BIO: Founder and owner of Creative Edge Design, Inc., which started in 2009 as a one-man sign shop. Today, Bryan has grown the business to employ three full-time employees while managing multi-vehicle projects and expanding services well beyond Central Virginia—most recently winning a bid for 1,000 bus wraps in the D.C. metro area. Bryan also completed 3M training and testing to become a 3M Certified company with 3M Preferred installers, which makes them the only local company to have this designation; Creative Edge was also recently honored as a Lynchburg Business Magazine “Small Business on the Rise”. Bryan is a member of three area business chambers and mentors other startup business owners. He continuously gives of his talents to support numerous local schools and organizations such as high school athletics programs, robotics teams, theater groups and more.

So far in my career, I am most proud of… Not giving up on this idea. When I started out, there were plenty of reasons to quit, but I kept on believing in myself and this idea. I’m proud that my business has grown to what it is today, and I’m proud that I get to do a job that I love every day. Over the next five years… I hope to continue a steady growth with my business. And I hope that in five years I can still say I love what I do. My inspiration and motivation come from… having a challenging childhood and wanting more for myself and my family. Something not many people know about me is that… I enjoy lifting weights, riding Sea-Doos and riding Razors [scooters] in my free time.

JORDAN WELBORN BIO: Public Services Librarian at the main branch of the Campbell County Public Library System. Jordan is involved with the Natural Bridge Appalachian Trail Club as a hike leader and serves as chair of the PR Committee. She is a member of the Hill City Master Gardeners club, just recently joined the board of the James River Council for the Arts and Humanities and volunteers with the Opera on the James. Jordan graduated from the Leadership Lynchburg cohort and her cohort established “Art on Main,” which improved the look and feel of empty storefronts in Downtown Lynchburg. Jordan was recognized with a Campbell County Employee Excellence Award in 2014 and has helped coordinate children’s opera, cleared trails, lead hikes, taught classes, planted public gardens and more. So far in my career, I am most proud of… the ability to share in the joys and successes of the public that I serve. Whether it’s learning that someone I assisted with a resume landed a job, or after a few technology classes a senior citizen stops by boasting they were able to video chat with their grandchildren for the first time, or high-fiving a child that receives his first library card, or even the simple delight of discussing a good book. Over the next five years… I get a little antsy if I’m not learning something new. I’ve participated in a few local programs like Leadership Lynchburg and the Master Gardener program. Both have been awesome! So, whether it’s something else similar and close to home, or another master’s degree, I’d like to continue my education further. My inspiration and motivation come from… my belief that each day is an opportunity to positively influence the lives of others. Sometimes it’s possible to pull off grand gestures. More often, it’s the little things we are able to control. I take my position of service seriously and strive each day to send a bit more light into the world. Something not many people know about me is that… If you end up stopped next to me in traffic, you’ll probably spy me singing (and sometimes even dancing) in the car. We only get so many days; I try to fill them with joy.

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Millennials ontheMove 2016

THE EVENT The second annual celebration was held on September 7 at the Academy Center of the Arts, our event host. Delicious catering was provided by Kathleen Oâ&#x20AC;&#x2122;Byrneâ&#x20AC;&#x2122;s Irish Tearoom and Cater This Events; Aztec Rentals kindly provided linens for the event. Many thanks to our community sponsor, the Young Professionals of Central Virginia, and our community partners, Opportunity Lynchburg and the Lynchburg Regional Business Alliance.

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LEGAL

TURN IDEAS INTO VALUABLE INTELLECTUAL PROPERTY ASSETS: PROTECTING AND ENFORCING YOUR INTELLECTUAL PROPERTY BY NATHAN A. EVANS REGISTERED PATENT ATTORNEY, WOODS ROGERS PLC

ntellectual Property (IP) includes patents, trademarks, copyrights and trade secrets. Each one is valuable in its own right and understanding the different forms of IP is a good place to start.

Patents protect embodiments of ideas, such as machines, improvements, methods of manufacturing, chemical compounds and sometimes even computer software applications. Patents do not cover concepts, rather they protect the realization of those ideas. However, before a patent expires (typically around 20 years from the filing date, subject to exceptions), it allows you to stop others from making, using, selling, offering to sell or importing embodiments covered by the claims of your patent—the “claims” delineate what you own and can therefore protect, and they are found numbered at the end of a patent. Trademarks cover IP such as the name of a company or product or a logo. In essence, they protect the goodwill you create in your company’s name and brands so competitors cannot use confusingly similar names or logos to fool consumers into thinking the two competing companies are related. Copyrights protect “original works of authorship” that are fixed in a tangible form of expression, such as sculptures, music, literary works, videos and even computer source code. Finally, trade secret laws protect valuable confidential information that you take reasonable precautions to keep secret. An example of a trade secret might be a formula like Coca-Cola’s recipe. If it can be reverseengineered, you should consider a patent on such subject matter.

All of these forms of IP add value to your company. They allow you exclusivity in your marketplace; they may be licensed for royalty payments, etc. But they are only as valuable as your ability to enforce them, which is what we’ll explore in this article. ESTABLISHING IP RIGHTS How to establish ownership of your rights will depend on what type of IP you’re protecting. Let’s consider each one: Patents: For patents, you need to file and prosecute a patent application at the U.S. Patent & Trademark Office (USPTO). Typically, this process starts with understanding what is already in the public domain worldwide, such as issued patents, published patent applications and literature (so-called “prior art”). If you look at the prior art and it appears your idea is novel, non-obvious, and something more than a general concept or abstract principle, you should consider filing a patent application. Over the course of approximately two to four years, you will argue back-and-forth with the USPTO to show that your invention passes muster under the rules. If you are successful in obtaining an issued patent, what you own will be expressed in the claims of your patent. Tip: For useful information on the process, as well as to conduct searches on issued U.S. patents and published U.S. patent applications, visit www.uspto.gov. Trademarks: For trademarks, you may have some limited common law rights in your mark simply through exclusive continuous use, for example, in the specific geographic location where your business is located, even if you don’t file for a trademark. However, to put competitors on notice nationally, it makes OCTOBER/NOVEMBER 2016

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LEGAL inherent sense to file for a trademark registration at the USPTO. Generally speaking, if your mark is not merely descriptive (e.g., “hamburger restaurant”), and it is not confusingly similar to another previously registered mark, you can get a registration for your trademark. Tip: Once again, information on the process and previously registered marks is found at www.uspto.gov. Copyrights: Copyrights are different, because copyright protection exists the moment you create an original work, and it is fixed in a tangible medium of expression (such as a book or DVD). However, if you wish to enforce such a work in court, you first have to file it with the U.S. Copyright Office at the Library of Congress. There are several benefits to registering your copyright prior to learning that it has been infringed. For instance, early filing increases your damages remedies. Tip: A searchable database of all registered copyrights can be found at www.copyright.gov. Regarding trade secrets, you do not have to file anything, but you do have to maintain reasonable safeguards to keep the idea secret, such as by having employees/contractors sign non-disclosure agreements, and/or keeping it hidden from public inspection. ENFORCING IP RIGHTS Once you have IP, you should take measures to be on the lookout for potential infringers. Of course, enforcement will be a business decision based on, to a large extent, financial considerations (e.g., legal fees vs. possible damages). On the other hand, sometimes showing you will enforce your rights when infringed will deter other potential infringers in the future. Below is an exemplary timeline of what IP enforcement looks like from an IP holder’s perspective.

First, monitor for potential infringers. When you find them, compare what they are doing against your patent, trademark or copyright. In the case of trade secrets, determine whether they may have misappropriated your trade secret. If you believe infringement or misappropriation has occurred, you have several options. Before filing a lawsuit, many companies prefer to first send a cease-and-desist letter in the hopes the wrongdoer will stop or that a resolution short of court intervention may be reached. Sometimes this leads to a mediation, which is typically faster and less expensive than litigation, although it does not bind the parties to the extent of a court-mandated judgment. Otherwise, you may choose to file a lawsuit, but only do so after conducting an adequate due diligence into the sufficiency of your legal claims against the infringer or party who misappropriated your trade secrets. IP disputes are typically handled in federal court, although trade secrets can be litigated in state courts. Litigations typically last at least a year before trial, unless the parties settle during the process, or a party can convince the court to rule on the issue(s) before trial. Litigation is frequently engaged in as a last resort, but it can be useful for particularly valuable IP and to show competitors you mean business. In conclusion, determine if you have IP, take steps to protect it and, if anybody infringes that IP, consider consulting with an attorney to discuss available options for enforcing your IP. Nathan Evans is a registered patent attorney at Woods Rogers PLC, where he works with clients to protect and enforce IP rights. He double-majored in biology and psychology with a focus on neurobiology at the University of Virginia and graduated from Emory University School of Law. He has co-chaired subcommittees for the American Bar Association and currently sits on the IP Council for the Virginia Bar Association. For more information visit www.woodsrogers.com.

50% of small businesses will fail in the first 5 years We're Still Here. Life Focus Pictures, award winning video production since 2011 www.lifefocuspictures.com

Photo: CJ Harris

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Understanding Your Industry: One more way Gentry Locke attorneys help businesses

achieve success.

Building? Expanding? You’ll need people who understand your industry and your perspective. Gentry Locke attorneys partner with clients, staying attuned to their goals and engaging the right services at the right time. Are you ready to move ahead? We’re always ready to listen. Meet our 55+ talented attorneys and learn how we can help you conquer your industry at gentrylocke.com.

SOME INDUSTRIES WE SERVE • • • • • • • • • • •

Aviation Banking & Finance Breweries, Wineries, and Distilleries College & University Construction & Development Energy, Mineral Rights & Natural Resources Government Contracting Health Care Hospitality Manufacturing Sooware & Technology

Roanoke: 540.983.9300 | Lynchburg: 434.455.9940 | Toll-Free: 866.983.0866

Confidence is Beautiful At Carilion Clinic Cosmetic Center, our experienced, board-certified team of plastic surgeons is specially trained in all types of surgical and non-surgical cosmetic enhancement procedures, including: ∞ Botox® and Dermal Fillers ∞ Facial Procedures (Eyelid, Brow Lift, Nose Reshaping and Facelift) ∞ Mommy Makeover (Liposuction, Tummy Tuck and Body Contouring) ∞ Breast Augmentation, Reduction and Lift Our medical aesthetician, Gina Hunt, provides aesthetic services including: ∞ Skin Rejuvenation and Resurfacing Procedures ∞ IPL Hair Reduction ∞ Facial Capillary and Sunspot Removal To learn more about these services or for a consultation, call 540-853-0510.

Kurtis E. Moyer, M.D. | James T. Thompson, II, M.D. | Anthony E. Capito, M.D. | Mark E. Feldmann, M.D.

CarilionCosmetic.com

HEALTH MATTERS

SP ECIA L A DVERT ISIN G SECT IO N

MAKING PLASTIC SURGERY WORK FOR YOU BY BARRET T BAKER

f you are considering any kind of cosmetic procedure to enhance your appearance—from microbrasion or laser hair removal to a full-on surgical procedure—Dr. Kurtis Moyer, Chief of Plastic and Reconstructive Surgery at the Carilion Clinic Cosmetic Center in Roanoke, wants you to know one very important thing: even though the terms seem synonymous, there is a point of distinction between “plastic surgeons” and “cosmetic surgeons.”

“Plastic surgeons are certified by the American Board of Plastic Surgery,” says Dr. Moyer. “Cosmetic surgeons typically go through different training. They can be a surgeon. They can be a vascular surgeon who decides they want to do some cosmetic procedures. But a plastic surgeon has graduated from an American Board of Specialties-approved program, which is the most stringent of all the training programs.” In other words, you’re getting a specialist when you seek out a plastic surgeon. Even if you’re considering a minimally invasive procedure like Botox injections, if you find you like the results, and you want to eventually opt for a full-on facelift, visiting a plastic surgeon provides you with a trusted partner who can lead you through each phase in the process. “If you go to a medical spa to get a Botox treatment done, and you like the results so much that you feel you’re ready to go on to the next step, you often OCTOBER/NOVEMBER 2016

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HEALTH MATTERS

SP ECIA L A DVERT ISIN G SECT IO N

don’t have people advising you on that, and you’re not really sure where to go,” says Dr. Moyer. “We’re there from the ground up, starting with a medical esthetician and a quality line of skin care products. The esthetician can then identify if a patient is a good candidate for Botox, and then a patient can visit with a plastic surgeon to see if they are a good candidate for cosmetic surgery.” In 2015, some of the most popular cosmetic surgical procedures included the following: • Breast augmentations; 279,000 procedures done, down 2% from 2014 • Liposuction; 225,000 procedures done, up 5% from 2014 • Nose reshaping; 218,000 procedures done, no change from 2014 • Eyelid surgery; 204,000 procedures done, down 1% from 2014 • Tummy tucks; 128,000 procedures done, up 9% from 2014 Breaking down the results by gender, women had 92% of the total cosmetic procedures done (1.4 million surgical; 12.5 million minimally invasive) versus 8% for men (208,000 surgical; 1.1 million minimally invasive).

“We do a lot of what we call ‘Mommy Makeovers’ that includes abdominalplasty, or a tummy tuck, combined with a breast lift or augmentation,” says Dr. Moyer. It’s important to note that even if you do elect to do a surgical procedure, you may not be a good candidate for it, based on a number of different factors. A well-trained plastic surgeon can explain why and help you understand what the results may be versus what your expectations are. “It’s very rewarding for me when a person comes in who wants a facelift because their friend has a facelift, and they want the same results,” says Dr. Moyer. “A normal facelift consultation for me takes about 30 minutes. But if a prospect is not a good candidate for the procedure, it may take me an hour to go through everything with them and explain things they may have misunderstood when researching procedures on the Internet. Typically, they are much happier and appreciative because they end up learning a lot and fully understanding their expectations versus the results they are likely to see. I don’t want someone to have a complication or to spend money and not get good results and be dissatisfied or upset about anything. If I can prevent that, I’m happier for it.”

The right path for your employees and your company

Expect More: You have the right to expect more from your healthcare plan. Not only should it enhance the health and well-being of your employees and their families, it should also contribute to your company goals of boosting morale, building loyalty and attracting highly qualified personnel.

Call 434-947-4463 or 800-400-7247 to get the information you need.

Piedmont Community Health Plan Offers you:

2316 Atherholt Road, Lynchburg, VA 24501

• Flexible plans and broad solutions for your healthcare coverage needs. • The most comprehensive local network available. • Coverage of out-of-area employees and college students. • Emergency care coverage anywhere, anytime.

LynchburgBusinessMag.com

OCTOBER/NOVEMBER 2016

www.PCHP.net

HEALTHCARE

THE OPIOID DILEMMA BY BRENT M CC RAW, M .ED. DI R EC TOR, C ENT RA AD D I C T I ON & RECOVERY S ERVI C ES

eaths from opioid overdoses are skyrocketing across America. An estimated 44 Americans die every day from prescription opioid and heroin overdoses, and at least two per day occur in Virginia. The Centers for Disease Control and Prevention (CDC) has labeled prescription drug abuse an “epidemic” in America with prescription opioid overdoses more than quadrupling since 2000. Virginia has not escaped the opioid crisis. In 2014, for the first time, prescription opioid and heroin overdoses killed more Virginians than automobile accidents. A CRISIS ARISES FROM PAIN An estimated 30 to 40 percent of Americans are reported to suffer from acute or chronic pain. A decade ago, the healthcare industry made a major effort to better manage chronic pain’s disabling effects, causing opioid analgesics, including oxycodone and hydrocodone, to become the most commonly prescribed class of medications in the U.S. This increased availability of prescription opioids has been a contributing factor to today’s opioid epidemic. These pain relievers present an intrinsic abuse and addiction liability because they are similar to, and act on the same brain systems affected by, heroin and morphine. Well-intentioned treatment for pain has triggered addiction in people who may have been genetically disposed to dependency. A second factor is the reintroduction of heroin in a different form—that which can be smoked or snorted. Two or three decades ago, heroin use was solely by intravenous injection. The easier administration of heroin has increased its use, more than doubling usage among young adults, ages 18-25, in the past decade. A certain percentage of heroin abusers began with a legitimate prescription for painkillers, became addicted, but were no longer able to get opioids because their health was better, or they were abusing their prescriptions. They had to find another source for their addiction, and that source was heroin.

OVERDOSE DEATHS Why are people dying? Opioids, when used repeatedly over time, induce tolerance—a physiological change that requires a higher dose of the same substance to achieve the same effect. With opioid dependency, the tolerance reverses very rapidly, contributing to a greater risk of an overdose death during a relapse to opioid use after a period of abstinence. Opioid users who do not realize they have lost their tolerance may use the same amount as they did before a recovery period, overdose and die. PREVENTION AND TREATMENT Public health initiatives have been launched throughout Virginia and across the nation to educate, prevent and treat opioid addiction and curb the mounting number of overdose deaths. Physicians across the country are working to manage patients’ pain with alternatives to oxycodone and hydrocodone. With the growing body of research supporting medication assisted treatment, Pathways and other treatment centers also have better ways to manage withdrawal and cravings from opioid dependence. Examples of medication-assisted treatment include suboxone, naltrexone and methodone (only in licensed opioid treatment programs). Methodone assisted treatment always includes counseling and support. Friends and family members of opiate and heroin abusers also are being educated about the life-saving drug naloxone, which reverses the effects of opioid overdoses. The non-addictive medication is administered through nasal spray or auto-injector. Naloxone is becoming more readily available and can be purchased without a prescription in pharmacies such as CVS. Communities across the country can have an impact on this epidemic by raising awareness, reducing the stigma associated with addiction, educating young people about the risks associated with opioid and heroin abuse and changing prescribing patterns to reduce the availability of pharmaceutical opioids.

Brent is the director of Centra Addiction & Recovery Services, which includes Pathways Recovery Lodge, an intensive outpatient program, medical stabilization and an aftercare program.

OCTOBER/NOVEMBER 2016

LynchburgBusinessMag.com

MARKETING

STOP THE LIES— PRINT IS NOT DEAD! Here’s the Epic Truth BY VI C TOR C LARK

ne too many businesses have written off the value of print-based marketing in lieu of shiny and exciting digital forms of marketing. Just because there are many more marketing channels available today than 10 years ago, doesn’t mean traditional forms of marketing don’t work anymore. Print based marketing is as effective as before, but the rules have slightly changed. Once you understand them, your ability as a marketer to get results will improve. It is relatively easy to run an ad in social media compared to designing, printing and distributing brochures or magazines. However, easy is not a good measuring stick for effective marketing. Don’t let the lack of time or the boundaries of a comfort zone completely dictate your marketing strategy. If something digital works, then, of course, do it. But keep in mind a printed means of marketing most likely will enhance your digital strategy even more. A great example of this is growing your opt-in email list. Print marketing can help solve the email opt-in challenge in a targeted way. Approach it with the intention to build your email list instead of a short-lived direct sales promotion. These have the highest open and click rates, which is often the step right before the point of sale. That’s why you want to have a solid email marketing strategy. But the biggest challenge is reaching enough folks so they can choose to opt-in to your email list. Most of us in business concentrate on closing the sale—be it a big contract or higher checkout averages. Consider the “Buy Now, Save Big” message on postcards you get every week. The percentage of purchase-ready prospects in your market is relatively small compared to those who could eventually be a customer. There is something about print that helps us retain a connection between us and the advertiser. Print sticks around physically, and therefore, also in our minds. Emails disappear into overflowing inboxes, and digital ads go away with a click, but print has longevity.

LynchburgBusinessMag.com

OCTOBER/NOVEMBER 2016

When mail is delivered to a house, every piece is reviewed before it’s thrown away. Sometimes it can lie around for days, particularly if the recipient has any interest in using the information. Print marketing, in general, except perhaps the door hanger or flyer on your car, is not intrusive. We don’t find print marketing annoying or repetitive like the remarketing ads online that won’t stop showing you a pair of shoes for six months. Most people are more protective of their email inbox than their mailbox. You can send unsolicited direct mail, and it’s considered socially acceptable, but that’s not the same for unsolicited email. Send an email to prospects who didn’t ask for it, and you may anger them to the point of reporting your business as a spammer. Perhaps this counter-intuitive perception of personal space (your home vs. a digital cloud) exists for a couple of reasons. First, if a company took the time and expense to print and mail something, it means they’ve invested some effort and care about what you think. Second, email now moves with us throughout the day on our smartphones. The soft notification chirp says there’s something of value you need to see. It better be true! Your goal in 21st century strategic marketing is to create an online lead nurturing system and then drive traffic to it using both online and offline tactics. Anytime you get anything printed, consider how to encourage readers to explore your business online. For lengthy forms of marketing collateral include a specific call-to-action (CTA) and provide a URL to a customized landing page. A landing page allows you to customize the marketing “pathway” for the prospect. The call to action gives them a reason to visit the landing page and the landing page presents the reason they should take the next step towards your business (fill out a form, call you, complete a survey, etc.). The better you can promote online marketing through print marketing, the more direct traffic you’ll see on your website and social media. Victor Clarke has been the owner of Clarke, Inc. for more than 20 years. They offer practical common sense ideas. If you want the marketing pretty boys, they’re not it. Contact Victor at victor@bebetterdomore.com or www.bebetterdomore.com.

TECHNOLOGY FEATURE

FILLING THE GAPS:

RIGHT: Members of the Lynchburg delegation wait for a shuttle at Penn Station in Baltimore. The group took Amtrak’s Northeast Regional to the city, where they visited organizations that serve the area’s entrepreneurs.

LOCAL GROUP TRAVELS TO GAIN INSIGHT FOR TECH STARTUPS CO PY A N D P H OTO S BY S UZ A N N E RA M S E Y

his past August, a group traveled from Lynchburg to Baltimore to see what kinds of resources are available to entrepreneurs in that area and to ultimately see if similar initiatives could be incorporated in Central Virginia. During the two-day trip, which was organized by the Lynchburg Regional Business Alliance (LRBA) and its Technology Council, local business leaders and other stakeholders in the area’s entrepreneurial ecosystem visited business incubators, accelerators and coworking spaces in and around Baltimore. “It’s almost a best practice now, to seek out communities that have done initiatives there...and ‘get their story,’ so to speak,” Christine Kennedy, the Alliance’s chief operating officer and executive vice president, said. It’s not that there aren’t resources for entrepreneurs in the Lynchburg area. There are— among them the co-working spaces Momentum, Toolry and Vector Space; the Business Development Centre on Mill Ridge Road; the Small Business Development Center on the campus of Central Virginia Community College; and the Lynchburg Office of Economic Development, which offers a nine-week class for entrepreneurs called CO.STARTERS. There’s also the Young Entrepreneurs Academy for teenagers, offered by Leadership Lynchburg. “There are pieces of that here but not a cohesive system of resources,” Kennedy said, prior to the trip. “If you need non-traditional financing, it’s not here. Venture capitalist funds? Practically non-existent. Can we take their example [in Baltimore] and fill the gaps here in Lynchburg?” Some of those gaps might be filled at the Alliance’s new headquarters, which will be located in the former James River Conference Center on Church Street. Renovations to the 8,000-square-foot building are currently in the early design stages and work is expected to be completed sometime in 2017. Anna Bentson, assistant director of the Lynchburg Office of Economic Development, called the Alliance’s move from Memorial Avenue to Church Street the “impetus behind the trip.”

“They’re going to have this space,” she said. “How do we maximize the effectiveness of this space? Is there something we can do to offer more? Classes? Accelerators? We could teach CO.STARTERS in that place. ... We have all the right ingredients. It’s just figuring out how they go together.” In Maryland, the Lynchburg delegation visited four facilities that cater to entrepreneurs: ETC (Emerging Technology Centers), the Maryland Technology Development Corporation (TEDCO), and two University of Maryland initiatives, the Maryland Technology Enterprise Institute (Mtech) and the Maryland International Incubator. Collectively, these organizations offer accelerators—short-term programs that jumpstart businesses with access to mentors and seed money—and incubators, where a startup might spend a year or two developing its product and growing its business without the hassle and expense of having its own facility.

LEFT: Co-working space at ETC. BELOW: Debb Tillett (center), president and executive director at ETC, talks with Lynchburg visitors Lauren Dianich (left), of Atelier 11 Architecture and Dustin Slightham (right), of 434 Marketing.

There also are co-working spaces, where freelancers and early stage entrepreneurs pay a monthly fee for desk space and other amenities, such as communal kitchens, conference rooms, workout gyms and showers. In addition to touring the facilities, the delegation met with senior staff, who talked about their individual programs and offered advice. Regarding target market, one of the things the group was asked to think about during the trip, Deb Tillett, executive director of ETC, suggested Lynchburg “start small and engineer success.” “If there’s something Lynchburg is known for, think of that,” she said. “Work on a budget you think is meaningful until you prove yourself. You have to really engineer success.” Neil Davis, director of entrepreneurial initiatives at TEDCO, had similar advice. “Pick something that aligns with your embedded strengths and then craft a program [in line with] those strengths,” he said. “What problems are you having? Wrap an accelerator around it to solve it.” That advice stuck with several people who made the trip, among them Nathan Kolb, director of the Small Business Development Center at CVCC. He said that while most entrepreneurial initiatives are focused on the tech industry, people have to be open to the idea that other markets might make more sense for the Lynchburg area. “We don’t have to figure it out,” Kolb said, adding that Lynchburg’s target market might be agriculture, transportation or even aerospace. “NASA’s not that far away. We just have to stand back and let what’s already happening tell us, and we have to be willing to do that.” Bentson had similar thoughts. She said the entrepreneurs that Economic Development works with in their CO.STARTERS program are mostly “lifestyle oriented”—more likely to be a coffee shop or restaurant than a tech startup.

“We need to get together and throw everything up on a white board and find out where the gaps are,” Bentson said. While touring the University of Maryland programs, Mtech and the Maryland International Incubator, the delegation learned more about the role big research universities can play in the entrepreneurial ecosystem. Mtech has a student business incubator—the “Startup Shell”—which is, according to Mtech’s director, Peter Sandborn, “100-percent student run.” Thirty companies operate out of the incubator, which is managed and funded by students. The facility also has a roomful of MakerBot 3D printers. OCTOBER/NOVEMBER 2016

LynchburgBusinessMag.com

TECHNOLOGY FEATURE The Maryland International Incubator operates in an office building just outside the UM campus. Over the past five years, 30 companies from all over the world—China, Italy, Israel, India, South Korea and others— have graduated from the program. Some have remained in the area. The international companies also hire UM students and take advantage of the university’s research facilities. Dennis Jarvis, director of economic development for the Town of Altavista, said he’d like to see Lynchburg’s region expand to include Virginia Tech, the University of Virginia and the Institute for Advanced Learning and Research in Danville. “We’re going to have to redefine the region if we’re going to do something,” Jarvis said. “We have a good nucleus of higher education [in Lynchburg], but we don’t have a research and development university here.” Prior to the trip, the delegation also was asked to think about “exportable features,” things they saw in Maryland “that are applicable to the LRBA and our region.” Asked about that later, Bentson said something she thinks could be created soon in the Lynchburg area, even before making decisions about things like target market, is more co-working space. “That’s something we could do pretty quickly, without choosing your sectors—more opportunities for people to work together and for those creative collisions to happen,” she said. “That’s really what you’re doing, putting creative people in the same room together. Even if they’re working on entirely different things they might generate new ideas together.” Asked what he’d like to see happen, Kolb said, “There were two things that I saw and that I think could be incorporated quickly into this area, the first of which is a

TOP LEFT: The group poses for a photo at the University of Maryland. ABOVE: Baltimore’s Inner Harbor. LEFT: UM’s Startup Shell’s “Wall of Fame.” The Startup Shell is a 100-percent studentrun incubator at the University of Maryland.

coordinated ecosystem. Everywhere we went—TEDCO, University of Maryland, ETC— everybody knew about each other and worked with each other. “They didn’t just know who they were, but coordinated in dealings with each other and...knew it would work best together. I want to see that. I want the Small Business Development Center to help foster that in our region with entrepreneurial development.” Kolb also said he’d like to see entrepreneurs have access to what he described as a “full complement of business services,” including workspace, mentors, funding, advisors and other entrepreneurs. He’d like to see these services available to entrepreneurs throughout the region, regardless of whether they’re associated with a business incubator or a particular organization, or live within a certain area. “Anywhere in the region, you could go to one spot to understand what you needed to do as an entrepreneur,” he said. “They have that [in Baltimore] in various ways. That’s a good thing we can accomplish here in the short term in this region.”

When trust matters. Rely on our professional staff at Lynchburg Dental Center to bring you the latest advancements in technology in a comfortable setting. Stop in to meet the rest of our team, all of us committed to ensuring confident healthy smiles.

Carrington Crawford, D.D.S. Karen Kenny, D.D.S. Brad Lentz, D.M.D. (434) 384-7611 • 3719 Old Forest Road • www.LynchburgDentist.com

LynchburgBusinessMag.com

OCTOBER/NOVEMBER 2016

FACES behind the PLACES

Behind every successful organization is a dedicated, professional and motivated staff. On the following pages, get to know the leaders of some of Lynchburgâ&#x20AC;&#x2122;s thriving businesses.

OCTOBER/NOVEMBER 2016

LynchburgBusinessMag.com

THE FACES BEHIND

“RIDGEVIEW DERMATOLOGY”

FACES behind the PLACES

Accessibility to excellent skincare continues to be the driving force for RidgeView Dermatology. Now with three offices to better meet the needs of the communities surrounding Forest, Lynchburg & Smith Mountain Lake, we are excited to use our extensive and varied experience to help you protect and love the skin you’re in! From rashes and routine skin exams to complex skin cancer surgery, babies to grandparents, we provide thorough and compassionate care for your entire family. Make an appointment today!

tHE FAcES bEHInD

“DAVID JAMES HOMES”

FACES behind the PLACES

Want to build your dream home? Want to know exactly how much you will spend on it before you start? Don’t want to be surprised with any hidden costs? Want a builder who doesn’t disappear after the home is finished? Then you want a custom home built by David James Homes. With over 25 years of experience, DJH offers 80 different floor plans with customized options for homes in the $100,000 to $400,000 range. When you sign a contract with DJH, you know the price of everything before construction begins. At closing, homeowners are given a binder with all warranties, from flooring to siding, including a unique 5-year craftsmanship/workmanship guarantee that includes everything from drywall to shingles. Build your dream home with the peace of mind and security that comes from partnering with DJH!

DAVID JAMES HOMES | 3911G WArDS rOAD, LyncHburG, VA 24502 | 434-239-5077 | WWW.DAVIDJAMEScuStOMHOMES.cOM

FACES behind the THE FACES BEHIND

PLACES

“JoHNSoN HEALTH CENTER’S DENTAL PRACTICE”

Johnson Health Center recognizes routine dental care is important to your overall health. James River Dental Clinic, a division of Johnson Health Center, offers a range of dental services to children and adults from routine cleanings to extractions. New patients welcome and all insurances accepted! For those without dental insurance, a reduced rate is offered. What sets us apart is our community focus. Among other things, we partner with Lynchburg City Schools every year to ensure all children are offered dental examinations and cleanings. Johnson Health Center operates a second dental office in Bedford - Bedford Community Dental Center.

JAMES RIVER DENTAL CLINIC | 239 TRoJAN LANE, MADISoN HEIgHTS, VA 24572 | 434-847-4691 | www.JHCVIRgINIA.oRg

THE FACE BEHIND

“THE YUMMY POTATO”

FACES behind the PLACES

Isaiah “Izzy” Knight knows media! After more than a decade in media design with award-winning and award-nominated radio stations, including several years inside the competitive New York City market, he started The Yummy Potato -- a full-service multimedia agency with a head for marketing and a heart for the community. Offering services from copywriting and media production to media planning and buying, Isaiah invites businesses of every size to see what kind of marketing victory is possible with the “pretty boys” at The Yummy Potato.

THE YUMMY POTATO | 612-888-SPUD (7783) | SALES@THEYUMMYPOTATO.COM | THEYUMMYPOTATO.COM

We’ve Expanded To Serve You Better

First National Bank on Timberlake Road

Come see our newly renovated branch • Local decisions make things happen for you • Business, personal and construction loans • Innovative business checking accounts • And expect extraordinary customer service Ann King Branch Manager 20865 Timberlake Rd., Lynchburg (434) 237-1623

Lynchburg / Forest / Altavista / Rustburg / Amherst MeMber fdic

434.369.3000 1stnatbk.com

FINANCIAL

FOUR COMMON DIVERSIFICATION MISSTEPS BY J O H N N . H ALL, CF P®

“I know my company best. I’m loading up my on company stock.” “I own several mutual funds, so I’m really diversified.” “I like to spread my money around with different institutions. That way, I stay diversified.” “I watch some pundit on TV and according to his guidance I’m diversified.”

ave you ever said something like this? In that case, I have some bad news for you: your investments may be subject to more risk than you know.

When it comes to our investments, being diversified is important, and it doesn’t have to be difficult. It does, though, require a little more effort than any of those leading statements might indicate. What is diversification? Put simply, it’s making sure that you don’t have too much of your livelihood dependent on the outcome of any one investment. In other words, it’s the practice of holding different types of investments that don’t always rise and fall together and that have varying degrees of risk. The statements that lead this article are ones I hear on a regular basis, so I’d like to walk you through why each introduces undue risk. OCTOBER/NOVEMBER 2016

LynchburgBusinessMag.com

FINANCIAL

Small Business Services

Personal. Professional. Perfect for your small business.

BETTING THE FARM ON YOUR EMPLOYER The most common diversification misstep I see is employees who have most or all of their retirement savings invested in their own company’s stock. Talk about concentration risk! If you do this, not only are you reliant on your employer for your current income, but you’ve unnecessarily become reliant on that same company for your financial future as well! Even the best-run companies can face unforeseen hardships. Don’t risk your future by turning a blind eye to that possibility. OWNING “SEVERAL FUNDS” FOR DIVERSIFICATION’S SAKE A mutual fund is an instrument that allows investors to purchase and own a portfolio of different investments typically invested by a manager or team of managers. Why, then, is owning several different funds not a great way to provide diversification? For one, it’s not efficient. It adds costs to the equation that may not be necessary (most all mutual funds do this but that’s a story for another day). In my practice, I often have people come to me with brokerage account statements loaded with different mutual funds. I look further into the funds and find that nearly all of them have the same top holdings. What’s the point of owning three funds if they all put their money in the same place?

Charles Snider Piedmont Floors

Simple solutions

for your small business BUSINESS CHECKING Simple...to make your life easier BUSINESS VISA | So you can stay focused on growing your business...not your bills BUSINESS LOANS | Ask our business specialist if we have the right loan for you Equipment purchasing with a variety of terms • Commercial loan refinancing • Lines of Credit for short term cash needs • Low Rate Auto Loans titled in your business name Small Business Administration Loans for startups, change of ownership and franchises

USING MULTIPLE MONEY MANAGERS FOR DIVERSIFICATION’S SAKE Does keeping money with different investment firms improve your diversification? Maybe. Maybe not. What it certainly does, though, is handicap your chances of reducing risk. Does each of those managers know what you hold at the other institutions? If they don’t, then how are they to make sure you’re not over-concentrated or under-represented in any particular investment, asset class or tax style? It’s possible you could run into the same potential area of concern as with owning multiple mutual funds just for diversification’s sake—exposure to the same investments simply held at different institutions. LISTENING EXCLUSIVELY TO MEDIA PERSONALITIES FOR INVESTMENT ADVICE Television pundits are entertaining. Some of them are very smart; many of them are not. None of them, however, know you and your personal financial situation. How, then, can they tell you whether you’ve done a good job of mitigating risk in your investment portfolio? I know that without meeting you I certainly couldn’t. Suppose you own a rental property and one of your largest investment holdings is also a REIT (Real Estate Investment Trust). Just looking at your brokerage statement, it wouldn’t be apparent that you may be over-concentrated in real estate. You can’t see that through a TV camera. So, what’s the bottom line? Be aware of these common diversification missteps so that you’re not making your portfolio riskier than it needs to be. Disclaimer: This article is generalized in nature and should not be considered personalized financial, legal or tax advice. All information and ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation.

BUSINESS SERVICES SPECIALIST | KEVIN HARVEY | EXT 1074

434/528-9016 800/335-0069 www.cvfcu.com

Timberlake Road • Mt Athos Road Madison Heights Seminole Plaza Forest Cavalier Corner

LynchburgBusinessMag.com

OCTOBER/NOVEMBER 2016

John N. Hall, CFP® is President of Lynchburg Wealth Management, LLC, a fee-only financial planning firm headquartered in Lynchburg, Va. He can be contacted via email at john@lynchburgwealth.com or by calling (434) 515-0380.

HUMAN RESOURCES

A FINAL RULING HAS BEEN MADE: Updates to the FLSA BY CO LLE E N M CLAUG H LI N , SPH R

A final ruling has been made, and employers in Central Virginia and across the United States have until December 1, 2016 to make the changes needed to comply with the final ruling.

s was recommended in an article published earlier this year, employers in Central Virginia needed to be prepared to address the upcoming ruling regarding updates to the Fair Labor Standards Act (FLSA). As a recap, in 2014 President Obama instructed the Department of Labor (DOL) via a Presidential Memorandum to update the guidelines that define exempt employees who are protected from the Fair Labor Standards Act related to minimum wage and overtime. The concern of the President was to ensure employees were paid fairly for their efforts at work. The instructions stated the DOL was to identify methods to both â&#x20AC;&#x153;modernize and simplifyâ&#x20AC;? the rules while at the same time safeguarding the FLSAâ&#x20AC;&#x2122;s overtime provisions.

Consequently, in July of 2015 the DOL provided a Notice of Proposed Rulemaking (NPRM) in the Federal Register and encouraged those who were interested to submit comments in writing not later than September 4, 2015. There were more than 270,000 comments received that were utilized in formulating the final ruling. On May 18, 2016 President Obama signed into order the updates in this final ruling. The stated purpose of the ruling includes the following: A. Increase wages for middle-class workers B. Protect overtime provisions C. Provide predictability for wages D. Provide work-life balance E. Increase employment opportunities F. Improve health G. Increase productivity According to the DOL, the primary requirements of this ruling emphasize updates to the salary and compensation levels for Executive, Administrative and Professional employees to maintain the exemption from overtime provisions. The DOL summarizes the final ruling as seen below: 1. Sets the standard salary level at the 40th percentile of earnings of fulltime salaried workers in the lowest-wage Census Region, currently the South (from $455 per week increased to $913 per week; $47,476 annually for a full-year worker); 2. Sets the total annual compensation requirement for highly compensated employees (HCE) subject to a minimal duties test to the annual equivalent of the 90th percentile of full-time salaried workers nationally (from $100,000 increased to $134,004); and 3. Establishes a mechanism for automatically updating the salary and compensation levels every three years to maintain the levels at the above percentiles and to ensure that they continue to provide useful and effective tests for exemption. 4. Amends the salary basis test to allow employers to use nondiscretionary bonuses and incentive payments (including commissions) to satisfy up to 10 percent of the new standard salary level. There are many available options to ensure your organization is in compliance with the final ruling. It is recommended that each employer carefully review the ruling and its provisions as it applies to the industry as well as the specific classification for its employees. One example of an option available to employers includes the ability to re-classify job positions by changing the job duties and rewriting the job descriptions for the exempt positions. In doing so, the positions may be able to be re-classified as nonexempt and therefore would incur the regulations that apply to overtime for non-exempt workers rather than the salary test for exempt workers. However, caution must be exercised as these types of changes cannot be completed arbitrarily but must be carefully considered as the duties test for exempt workers still applies under the final ruling. In conclusion, the ruling also requires there be automatic updates every three years beginning on January 2020. Ultimately, employers in Central Virginia and across the United States have until December 1, 2016 to make the changes needed to comply with the final ruling. While the purpose of this ruling is to increase wealth of the middle-class citizens in the United States by putting more than $1.2 billion in their pockets, organizations will need to strategically evaluate the impact to the short and long term objectives so as to ensure sustainability and opportunity for a competitive advantage in the marketplace. Colleen is an HR professional with 15 years of experience; she currently serves as a professor of business and as an HR consultant.

OCTOBER/NOVEMBER 2016

LynchburgBusinessMag.com

EXECUTIVE CAR GUIDE

EXECUTIVE CAR GUIDE Nothing beats luxury cars when it comes to riding in style and class. Your car should be an extension of your lifestyle and you—so make sure you select the best. No matter your personal preferences, there’s a luxury car option that will suit your needs. Today’s luxury cars are available in just about every body style and configuration imaginable and with customizable options. Explore what this region has to offer in the following pages where we highlight car dealerships equipped to exceed your expectations.

LynchburgBusinessMag.com

OCTOBER/NOVEMBER 2016

When No Plan is the Plan. Just Drive.

Come to Terry Subaru and drive a new Subaru with industry leading All-Wheel Drive. 2016 SUBARU

CROSSTREK Starting at

21,595.00

Symmetrical All-Wheel Drive + 34 MPG. The balanced design of Symmetrical All-Wheel Drive creates uniform stability and delivers an optimal distribution of power for maximum traction. It makes for improved handling, efficiency and a quicker response to road conditions. The durable SUBARU BOXER® engine combined with the Lineartronic® CVT allows the Crosstrek to get up to a fuel-efficient 34 MPG highway. Other Available Options: EyeSight® Driver Assist Technology, SUBARU STARLINK™, Blind-Spot Detection and Rear Cross-Traffic Alert, Rear-Vision Camera, Keyless Access with Push-Button Start, Siri™ Eyes Free, Side Mirrors with Integrated Turn Signals and more.

Have credit issues but want to buy a car?

Best Bet Motor Sales, Inc.

www.bestbetmotorsales.com 12013 Wards Road, Rustburg, VA 24588 Toll Free: (888) 700-6670 Main: (434) 821-3100 Fax: (434) 821-3101

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Sajal Narayan

BUSINESS PROFILE

OVER

BUSINESS TEN YEARS

WLNI 105.9 FM BY D REW M ENARD

hrough the laughs, the musings, the opinions and the occasional tears, there is something about a local morning radio show that brings people together.

“There is definitely a family feel to it,” Janet Rose, co-host of The Morning Line with Larry & Janet on WLNI 105.9 FM, said. “It is amazing the personal relationships you develop with listeners, [most of whom] you haven’t even met.” The daily talk show—on air weekdays from 5:30-9 a.m.—helps get the conversation going in the community, taking on the latest national, global and even local news with good humor, strong opinions and the familiar sort of personality and sensibilities you can’t get from a national program. “We don’t want to just talk about politics,” Rose said, adding that while that is an important part of the news, she doesn’t want to induce “political fatigue.”

“We also want to talk about the things that are going on in our community and that has been a really big part of why the show has resonated.” The show is not just about the two people behind the mic, it’s a format that invites audience members to be participants. “The listeners are as much a part of putting this show together as we are,” said Rose’s co-host, Larry Dowdy. “We are just trying to keep it on track.” The pair is approaching two years together on the air. “Even now,” Dowdy said, “I am still fascinated by our listeners. They are smart. … Many times even though we come in here prepped for a show they might mention something that I missed.” The hosts find themselves relating to their audience, sharing similar life experiences and struggles, as well as plenty of laughs—running jokes abound, keeping faithful listeners engaged. Dowdy will frequently try to trigger a response from Rose, knowing 72

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OCTOBER/NOVEMBER 2016

she gets heavily invested into political discourse, occasionally drawing her to toss a highlighter in his direction. One really cannot predict where the conversation will go. “Sometimes I will just throw something out there, not really expecting a response,” Dowdy said, “and then it is like we’ve opened the barn and all the horses run out.” Bringing people together—who would otherwise be solitary in kitchens or cars across the area—in this way helps residents to engage with important conversations, and to unpack heavier ones, like the slew of national tragedies the country has faced as of late, in a communal way. “There is a serious side to a morning show,” Dowdy said. “There are just some mornings you hate having to talk about it so you know you have to, but you do it, you go on and it is the listeners who help you through it.” Sometimes it is a personal struggle. Other times, it is a local tragedy, like last year’s murders of WDBJ7 reporter Alison Parker and cameraman Adam Ward. (WDBJ7 is a media partner of the station.) “The community will never be the same,” Dowdy said. “At the same time, we all grew from it.” National reporting can surely capture the moment, but it cannot reflect the same intimacy of local coverage. That is why it has been important to Leonard Wheeler, president and general manager of Wheeler Broadcasting (which includes WLNI), to devote resources to local news personnel. Around six people work exclusively on content for WLNI and across his company Wheeler has approximately 90 full- and part-time employees. “It is pretty easy to do a talk station and probably just plug into national syndicated hosts but then you really don’t have that emotional connection with your marketplace,” Wheeler explained. “With Janet and Larry and the news staffing and resources that we have, that to me is the most important part of the station. “It is really quite striking in a lot of markets how few staff a lot of radio companies have.” WLNI has a rich history in the community—it started in 1994 as Lynchburg’s first full-time talk FM station. And while more media companies are scaling back at the expense of local resources, Wheeler, who comes from a family of broadcasters, maintains his “high media commitment.”

BUSINESS PROFILE “You really come from the standpoint that you serve the communities that you are in first and foremost and if you do that well enough hopefully you have a profitable business that sustains itself and keeps going forward,” Wheeler said. WLNI is the area home for a number of national programs, including Rush Limbaugh (weekdays noon-3 p.m.), Sean Hannity (3-6 p.m.) and Glenn Beck (6-9 p.m.), but the majority of the company’s investment is in its local news programming, which includes weather updates and some live local sports coverage.

Wheeler knows how important the platform of a local station is and does not take that responsibility lightly. He encourages hosts to be more than a voice over the airwaves to have a symbiotic relationship with the community. Many nonprofits lack resources they need to get fully plugged in and often rely on their relationships with local radio stations. For this reason, Wheeler has a dedicated staff member who works with nonprofit leaders and develops relationships with them, offering advice and services when possible. A commitment to the community like this has led to successful initiatives like WLNI’s “Keep the Giving Going” joint promotion with Berglund Toyota of Lynchburg. The dealership gave away $41,500 to local Lynchburg charities from August to December 2015 with help from listeners. In all, 10 local organizations received funds and got to discuss the importance of their work on the air. The listeners voted on winners who would receive larger donations—but everyone was a winner as all charities received $1,000 or more (the grand prize was $7,500) and the community rallied together to discuss important issues. Another “Keep the Giving Going” is currently underway. Rose said that community engagement is important, whether it is in the booth or not.

AT A GLANCE Founded: 1994; purchased by Wheeler Broadcasting in 2013 Located: 109A Tradewynd Drive, Lynchburg Employees: 6 Signs of Growth: “Keep the Giving Going” campaign gave more than $41,000 to local nonprofits in 2015 in collaboration with Berglund Toyota of Lynchburg

The station interviews community leaders, discussing local issues, but it also hosts events, such as seminars on the importance of foster care. “[It’s important] to talk about things that are not always comfortable,” Rose said, noting some might have a fear about participating in the fostering process and others might get uneasy discussing mental health. But that is what family does—it talks through those things and, as a result, is stronger for it. The Morning Line is also on the TuneIn app, and programming information can be found at WLNI.com.

perfection

PURSUE

434.239.0976 | 171-A Vista Centre Drive, Forest | www.CornerstoneCabinetsAndDesign.com OCTOBER/NOVEMBER 2016

LynchburgBusinessMag.com

MADE IN LYNCHBURG

HIGHLIGHTING LOCAL PRODUCTS AND MANUFACTURING THROUGHOUT THE REGION 2000 PARTNERSHIP

SLATOR, LLC “Cool Tools for Roofing Superheroes” “We launched the SLATOR in January 2015 and shipped product to 35 states with many repeat clients during our first 7 months. The most common feedback we receive from roofers is, ‘It works so well and is so simple! Why didn’t I think of that?!’ GAF, the world’s largest roofing product manufacturer, invited us to join their preferred vendor program. We are thrilled that our products are made here in Lynchburg and are grateful for the skill and dedication of the fabricators. Manufacturing locally allows us to exchange ideas and test new products quickly. Everybody wins!” —Ronny Roseveare, General Manager, Roofer, Remodeler and Inventor of Slator products

Pictured: The patent-pending SLATOR (Secure Ladder And Tie Off Responsibly) helps tradesmen working on roofs make their first safe ascent and descent on steep roofs. It also serves as an OSHA-compliant anchor point for fall protection and works on asphalt, shingle and slate roofs.

Visit www.slator-usa.com or contact Ronny Roseveare at (434) 515-1435 or blueglassllc@comcast.net.

Let Us Know! 74

LynchburgBusinessMag.com

Do you know of a product manufactured locally? Let us know at feedback@lynchburgmag.com. OCTOBER/NOVEMBER 2016

Customer Feedback: “Our foreman was ecstatic after using it for the first time. . .I have been in the roofing business for 35 years and it is not too often that a safety product comes along that truly makes the job safer, is easy to work with, and the roofers actually like using it. The Slator does all this.” —J. Mike Christopolis President, Columbia Roofing

PA I D A D V E RT I S E M E N T

BY M EGAN LUC AS , C EO

T Megan Lucas, CEO

he secret to our regional success is visible right here in this issue: 2016 Millennials on the Move. The change agent for growing and sustaining our communities lies in what I like to call the “millennial difference.”

Our region’s millennials, not just the ones recognized in this edition of “Lynchburg Business,” are creating change in how work gets done. They work more in teams, and use more technology while impacting community and social changes. The young professionals active in our communities are engaged, transparent and champions for success. Our millennials are naturally creative and talented. Congratulations Anthony Andrews, Geoff Kershner, Tim Saunders and Alex Johnston.

Our millennials master technology and education advancement. Congratulations Elise Spontarelli, Aaron Smith and Jordan Welborn. Our millennials are entrepreneurs. Congratulations Abe Loper, Carl Matice, Rebekah Moody and Bryan Shelton. Our millennials are community impactors. Congratulations Emelyn Gwynn, Jessica Hupp, Ashley Kershner, Allison Stronza, Kate Sigler and Aaron VanAllen. Our millennials are professionals committed to impacting business success. Congratulations Lauren Bennett, Tanya Fischoff and Bethany Hill. What’s the secret to our success? It is the engagement of the millennials recognized as this year’s “Millennials on the Move”. They are drivers for creative, impactful change, thinking differently adding more compassion and commitment to our community as a whole. Our region is better positioned for success because of the talent and energy of the young professional community.

Congratulations 2016 Millennials on the Move. CONTACT INFO: To learn about the benefits of membership in the Lynchburg Regional Business Alliance contact Mike Lewis at 434.515.3365 or MLewis@LynchburgRegion.org

2015 Memorial Avenue, Lynchburg, VA 24501 Phone: 434.845.5966 | Fax: 434.522.9592 | Info@LynchburgRegion.org www.LynchburgRegion.org | www.YesLynchburgRegion.org

Young Professionals of Central Virginia YPCV is a partner of the Lynchburg Regional Business Alliance, formed to help connect young professionals in the region. It is the perfect opportunity for emerging professionals who are looking to become more involved in their community, meet new people and develop leadership skills.

CAREER SUCCESS PERSONAL GROWTH SOCIAL INVOLVEMENT PROFESSIONAL DEVELOPMENT There is no membership fee to join YPCV. For more information, or to receive monthly updates concerning YPCV events, email ypcvinfo@gmail.com.

Itâ&#x20AC;&#x2122;s law, done better. 434-200-9567

| relevantlaw.com