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CEDAR VALLEY BUSINESS MONTHLY
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Volume 5 ● No. 7
BUSINESS MONTHLY COLUMNS Page 4
Jim Offner Family-owned firms the foundation of local economy.
Page 10
Wartburg College Internships a gateway to productive workers.
Page 39
Work coach Facebook has its place in the workplace.
BUSINESS MONTHLY STAFF DIRECTORY EDITORIAL CONTENT Nancy Raffensperger Newhoff nancy.newhoff@wcfcourier.com (319) 291-1445
ADVERTISING Jackie Nowparvar jackie.nowparvar@wcfcourier.com (319) 291-1527
Jim Offner jim.offner@wcfcourier.com (319) 291-1598
Sheila Kerns sheila.kerns@wcfcourier.com (319) 291-1448
Cedar Valley Business Monthly is published monthly. It is a free publication direct-mailed to more than 6,500 area businesses. For distribution, call Courier Communications at (319) 291-1527 Contact Cedar Valley Business Monthly at P.O. Box 540, Waterloo, IA 50704.
BUSINESS MONTHLY ON THE COVER TIFFANY RUSHING / Courier Staff Photographer
Jeff, Helen, and Marvin Schumacher in the elevator at Schumacher Elevator in Denver.
TIFFANY RUSHING / Courier Staff Photographer
Travis Dobbs assembles a hydraulic muffler April 27 at Schumacher Elevator Co. in Denver.
Going up Schumacher Elevator marks 75 years in Denver By JIM OFFNER jim.offner@wcfcourier.com
DENVER — Now marking its 75th anniversary, Schumacher Elevator Co. continues a long ride upward. Family is at the heart of the business, its president, Marvin Schumacher, said. With 49 years in the business himself, Marvin Schumacher attributes much of its success to a well-entrenched family philosophy. “Our family philosophy is we
really hire the right people,” he said. “We hire people who are technically proficient, whether it’s service — our big thing — and make sure they have a great personality and fit in. We also like a background of hard work, whether on a farm or something where they physically or education-wise have excelled. It has really helped us, because your big companies don’t always hire that way.” Schumacher Elevator Co.’s roots sprang from agriculture
and rural Iowa. It started in 1936 with a custom-made lift for feed bags and chicken crates designed by William Schumacher and his son, Elmer. Today, the firm, which has 5,000 elevators in service around the world, manufactures a complete line of custom-designed and standard elevator systems and components in its Denver plant. Schumacher Elevator employs 180 workers.
See SCHUMACHER, page 5
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Family firms the foundation of the business community At last count family-owned businesses represented about half of U.S. gross domestic product, generated 60 percent of the nation’s employment and created nearly 80 percent of new jobs. Those numbers Jim Offner serve as overis the Courier whelming evibusiness editor. dence that mom Contact him at and pop nurture jim.offner@ much more than wcfcourier.com. children: Under their steady hands a business community blossoms. That’s certainly true in the Cedar Valley, which is home to a number of prominent and longtenured family firms. The examples have been cited often, and they’re certainly worth mentioning again: ■ Peterson Contractors Inc. of Reinbeck and its ubiquitous redand-yellow trucks remains one of the area’s leading builders. ■ Cedar Valley Corp. is another specialist in highway construction. ■ Warren Transport Inc. is a long-established major trucking firm. ■ Powers Manufacturing Co. makes jerseys that major college athletic teams wear. ■ Bertch cabinets have long been a source of pride and a symbol of excellence in the Cedar Valley’s manufacturing sector. ■ The Lockards are major players in real estate, on both the commercial and residential sides of the business.
■ Matt Parrott & Sons Co. offers office products and printing services. ■ Hellman is a major advertising agency that is run by the Hellman family and maintains its Cedar Valley heritage and values. Founder Bob Hellman has made one of his major causes the building and renovation of baseball diamonds for area kids. That’s just a sample. An exhaustive list of family-owned enterprises — from barbers, to roofers, to grocers, to heating/ cooling experts in the Cedar Valley — would fill up several volumes of this publication. A glance at this month’s Cedar Valley Business Monthly will provide more than a little insight into some of those businesses and what makes them flourish, as well as provide these businesses’ unique perspectives on how these enterprises are able to survive and thrive in an increasingly corporate culture. The cover story focuses on Schumacher Elevators, a Denverbased company that is marking its 75th anniversary business. The company has reached across several generations of Schumachers, all of whom have built on dreams of success of their predecessors with new ideas and evolving technology. It’s a story that really could apply to any number of family-owned firms in the area. If it accomplishes nothing else, this issue of the Business Monthly will illustrate the importance of family as a foundational ingredient in the health of the business community at large.
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SCHUMACHER From page 1 The Iowa Farm Bureau conferred its “Entrepreneur of the Monthâ€? award for March on the company. “They’re a unique organization,â€? Joe Papp of the Center for Industrial Research and Service, who nominated the company for the award, said in a news release. “They’ve done a lot for the community and have been instrumental in bringing the library and athletic facility to this area. Even in tough times, there were very few layoffs (there) because as times changed, they changed with the times to keep this company strong.â€? Ruth J. Wilcox, CIRAS program manager, said Schumacher was nominated because the company “exhibits those characteristics driving the Iowa economy, as do all manufacturers in Iowa. They’re a wonderful presence for the Cedar Valley area.â€? Schumacher’s current run of growth dates to the late 1990s, when it built a new production facility in Denver, Marvin Schumacher said. “We’ve now come into the growth area of the company; in fact, we’re about four times the size we were when we moved in here,â€? he said. Jeff Schumacher, son of Marvin and his wife, Helen, joined the company in 1993 and helped to oversee that growth, Marvin said. Jeff, now 45, is a certiďŹ ed public account with a masters degree in business engineering and executive MBA from the University of Iowa. “He’s pretty well positioned
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“We’ve now come into the growth area of the company; in fact, we’re about four times the size we were when we moved in here.� Marvin Schumacher president, Schumacher Elevator Co.
to run a company,� Marvin said. “He has done a lot of things for the company since then and has helped it grow. That’s probably what has helped us as much as anything.� Helen, Marvin’s wife of 52 years, had been business/accounting teacher for years in schools in Denver, Waverly and Tripoli, but now is active in the day-to-day operation of the company. “She takes care of a lot of the tougher legal, insurance and liability issues and that type of thing,� Marvin said. As is common with a lot of family businesses, the Schumachers have other children — a son and a daughter — who pursued other callings and are not involved in the company. But there may be another generation on the way. Jeff has two high school-aged sons. “One is a junior in high school, and he’s going into engineering, but I’m not sure what he’ll do,� Marvin said. And the other grandson? “He’s a freshman; we’ll see what he’s going to do,� Marvin said. Both are involved in Denver High School’s Junior Achievement program, which Marvin started.
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Your bones need calcium Calcium is a key ingredient for bone health. Most of us do not get enough, and our bodies steal some from the bones. That weakens our bones. Everyone needs 1,200 to 1,500 milligrams of calcium — four or five 8-ounce glasses of milk — every day. Few of us drink that much Dr. Jay milk. We need Ginther is director of the other foods and/ Cedar Valley Bone or supplements. Health Institute. My blog at www. Contact him at bonedocblog.com 233-2663. has a list of calcium-rich foods. There is a much longer list at the U.S. Department of Agriculture. Your body can absorb only 500-600 mg of calcium at each meal. Remember to drink enough water to prevent kidney stones. Calcium carbonate is the most common calcium supplement. It is the cheapest, but there are problems. It may upset your stomach or make you constipated. Calcium carbonate requires lots of acid to dissolve. You must take it with a full meal. If you take
medications for acid reflux disease, you will not properly absorb calcium carbonate pills. If you are over 50 you may have difficulty digesting calcium carbonate pills. Many patients take enough calcium carbonate but are not able to digest it properly. They don’t get enough calcium into their bloodstream. Therefore, the parathyroid glands have to tell the osteoclast cells that eat away bone to release calcium from bone. This is secondary hyperparathyroidism. This is now common. Calcium citrate can solve this problem. It does not require acid to dissolve. It can be taken without food and if you have reflux disease. Calcium citrate is much less likely to cause constipation or stomach upset than calcium carbonate. The tricky part is that calcium citrate is usually two tablets per serving. Even if you are taking calcium citrate to supplement the calcium in food, you could still have a problem — low vitamin D. You must have enough vitamin D to absorb the calcium in your diet. Most persons in Iowa are low on vitamin D.
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Ground source heat pumps like an oil well in your yard By GARY SHAWVER
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Wartburg College
a supply well and an injection well. In the summertime, the process is reversed and the cool water or cool antifreeze accepts the warmth from the home and puts it back into the earth to be cooled down. In essence it is a refrigeration system that utilizes well water or antifreeze in lieu of air as a typical heat pump or air conditioner does. But it is much more efficient. Which type of earth coupling you utilize — loops or water wells — depends both on the cost and the geology as well as a few other factors. Water wells are often utilized in the Cedar Valley, especially on larger projects, due to their cost savings and efficiency of operation. Shawver Well Co. Inc. has a long history of geothermal earth coupling. I ďŹ rst installed a system in my home in 1979. Since that time Shawver Well Co. has installed many commercial and noncommercial earth couplings in the Cedar Valley. Soon, community geothermal systems will be a viable option for many communities and neighborhoods, further reducing the cost and enhancing the economic beneďŹ ts of geothermal heating and cooling. Some have already been installed, and other community systems are on the drawing board. America has the ingenuity to be self-sufficient, providing we can get regulators to “look outside the box.â€?
Ground source heat pumps have been around since the mid-1970s and have been steadily catching on, especially in the last 10 years. They are being installed at many new new schools and homes, and are an efficient way to heat and cool your home or business. So how do they work? In essence they are a refrigeration system that uses ground water or antifreeze as a medium to obtain heat or to “reject� heat. There are various methods, but basically the system works either using standard water wells or a series of loops that are installed in the earth that contain antifreeze. In the winter the water or antifreeze brings the heat from the earth into your heat exchanger (located in your home or basement) and freon then extracts the heat from the water or antifreeze. Then a compressor compresses the freon gas that has just extracted the heat and makes it a denser gas with more heat. The freon is then passed across an air exchanger (in most cases) and the heat is carried via forced air, through your home, just as a normal furnace does. If a loop system is utilized the antifreeze is circulated through the series of loops back into the ground to “pick up more heat� and then is returned to the heat exchanger. If a water well is used, the water is typically reinjected into the ground or aquifer through another water well placed some distance from the Gary R. Shawver is president of extracting water well. A water Shawver Well Co. Inc. in Fredericksburg. well system typically utilizes Contact him at (563) 237-5341
The solution to Iowa’s college student “brain drain�? Try Wartburg College’s Pathways Center for Career Services. More than 74 percent of Iowa students who graduate from Wartburg stay in the state, as do 26 percent of out-of-state U.S. graduates. With more than 50 majors, Wartburg students can assist your business in a variety of fields. Our leading majors are biology, business administration, communication arts, elementary education and psychology. See all that Wartburg has to offer at www.wartburg.edu/academics. Our success speaks for itself: t QFSDFOU KPC BOE HSBEVBUF TDIPPM placement rate for all graduates
t QFSDFOU PG BQQMJDBOUT BDDFQUFE BU NFEJDBM TDIPPMT QFSDFOU OBUJPOBM BWFSBHF QFSDFOU BU EFOUBM TDIPPMT t QFSDFOU BDDFQUFE JO PQUPNFUSZ podiatry, veterinary medicine, nursing schools, occupational therapy, and physician’s assistants programs t 8FMM SPVOEFE TUVEFOUT 8BSUCVSH PòFST both leadership and social entrepreneurship minors. It has gained national recognition for its service programs. Contact Derek Solheim, associate director of Pathways Center for Career Services, 319 352-8425 or derek.solheim@wartburg.edu. For internships, contact Jo Dorrance, 319 352-8698 or jo.dorrance@wartburg.edu.
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Get your money’s worth Advertising in the Cedar Valley Business Monthly is an efficient way to spend your advertising dollars. If you want to place a display ad, call an account executive at 291-1497 from 8 a.m. to 5 p.m. Monday through Friday. Our account executives and creative department will be happy to help you establish a campaign, step-by-step, that will sell. Before you set next year’s budget, give us a call.
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Taking an inventory of your personal life By ANJI BARNARD
Once a year, our business does an inventory. We print out what seems like a forest of paper and walk around to find the part, double-checking the quantity on hand. We do quick adjustments in the computer Anji Barnard so quantiis chief information ties are correct officer with and then don’t Farnsworth think about Electronics in Waterloo. Contact her it again until three hundred at 234-6681. some odd days later. Our business is updating our accounting software so we have chosen to double check our inventory again to insure accuracy. Iif you’ve ever done inventory you know what a monotonous task it is. That Saturday when I was at work, I continued the inventory, but on a different topic. This time I did a personal inventory of me. By doing so, it also put situations into a clearer perspective. I realized after making various lists, I don’t take time for myself, definitely not as much as I should. I think others too would agree after doing some soul searching, none of us take as much time out for No. 1 as we should. When doing your own inventory, remember you must list pros and cons just like you list assets and liabilities in business. Sometimes we don’t always like what we uncover, so we make the needed adjustments. Unlike a few clicks of the mouse on the computer at work to fix a prob-
lem, such adjustments need daily devotion and focus, similar to physical exercise. We take care of others, whether it be spouses, children, friends or grandchildren, yet hardly take time out for our own personal, mental health. We need to have relationships that are mutually respectful and nurturing. In business we don’t necessarily get to choose our customers. We answer the phone and take orders from customers whether we like their tone of voice or not. We help the people who walk in the door, even those who you can tell really don’t think a woman will know about a normally open magnetic reed switch, let alone doing a small repair soldering a hair-thin light bulb to the back of an ATM screen. We are in business to make a profit, and we strive to make our personal lives fulfilling. We can look to others for moral support, but taking time for self exploration can be rather exhilarating. To be honest with ourselves is the right thing to do, and it makes you feel good, as well. Just as we make positive changes in multiple aspects of our business, we can also make small changes to better ourselves. We wouldn’t want to leave the door unlocked for someone to walk into our business and steal everything just as we wouldn’t want to continue with behaviors that aren’t healthy and productive. Somehow after this I have a newfound tranquility in my life. Now that the sun is finally filling up the sky again and the flowers are in bloom, go out there and eat a banana split, take a boat ride and relax. It’s summer, but still a good time to do inventory.
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Don’t assume your boss hogs all credit for project so she obviously knows about your involvement. Including McClatchy-Tribune News Service your boss in the compliment is customary office etiquette, Q. My boss appears to be taking since managers have responsibility for all work done in their credit for a difficult project that departments. I am working on, even though You don’t know what’s going it does not involve him in any on behind the scenes. He could way. The vice president of our be commending you in condepartment sent out an email congratulating both my manager versations with executives or praising your work in progress and me on the project’s success reports. The vice president was and expressed appreciation for clearly aware of your role. our hard work. As for the slides you created, My manager could have graall managers use work produced ciously set the record straight by replying to the vice president by their employees when talking with higher-ups. That’s just and giving me the credit, but standard operating procedure. did not. I wonder if he may be For future success, support exaggerating his role. I know from your boss is much more that whenever he meets with executives about the project, he valuable than solo recognition for this project. If you develop an uses slides that I created. What adversarial relationship, he will should I do about this? be much less likely to give you credit for anything. A. Credit-grabbing managers are annoying. However, I think Marie G. McIntyre is a workyou may be jumping too quickly place coach and the author of to an unwarranted conclusion. The vice president mentioned “Secrets to Winning at Office you in her congratulatory email, Politics.”
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I am exploring possibilities.
By MARIE G. MCINTYRE
Are you the next Kurt Warner, Lea Michelle or Mark Zuckerburg? Explore the variety of camps being offered at the University of Northern Iowa this summer! Camps for all ages are offered in: Adaptive sports Athletics Music including jazz, flute and Kindermusik Archaeology Digital media and multimedia Interior design Science and math including minisumo robotics and crime fighting with biotechnology Theatre and the production of “Aladdin”
And for adult learners, business people and teachers, check out our summer continuing educational courses! For more information about camps and continuing education visit www.uni.edu/camps.
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Internships a gateway to productive workers During discussions with various friends whose offspring are recent college graduates, a common thread existed when talking about the jobs their children had just obtained. Their children all had meaningful internships in their career fields. So, as we celSaul Shapiro ebrate local is director of news businesses in and community relations at Wartburg this issue, those College. of us at Wartburg College want to thank the many companies throughout the Cedar Valley — and beyond — that have assisted our students by providing them with internship experiences.
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According to Wartburg’s Center for Community Engagement, 40 percent of our graduating students had completed a minimum of one internship for academic credit, while another 25 percent completed an internship for experience alone. Nearly 80 percent of those internships were in the Cedar Valley, with multiple students working at — among other places — John Deere, Mudd Advertising, Waverly Light & Power, KWWL, Target Distribution Center, The North American Review, CUNA Mutual and Terex Crane. The students also have worked at Cedar Valley nonprofits such as the Grout Museum, Self-Help International, Big Brothers/Big Sisters and the United Way. In nonprofit management, students help with grant-writing, fundraising and learn about doing a
lot on a small financial budget. In most cases it’s a win-win situation for both the businesses and the students. Businesses get a temporary employee with solid fundamental skills and a good learning curve. For students, their employers will be providing them with a real-life work environment and, in many instances, state-of-the-art equipment that colleges can only dream about. Some will be making a relatively seamless transition from internship to career opportunity. I have watched a number of my former communication arts students go directly from internships at places like Mudd and KWWL to full-time jobs there. Chikemma Nwana, the college’s outstanding student in computer information systems, had an internship at Credit Suisse on Wall Street, which just morphed
into a full-time position as a technology analyst. Internship coordinator Jo Dorrance has worked with the dean of faculty to raise for-credit internship standards and develop reflection and evaluation tools for both community partners and for the students. “This has aided the college in assessing how Wartburg students are succeeding in their out-of-the-classroom experiences,” Dorrance said, “and provided students deep learning opportunities through assigned curricular projects.” Years ago when I was editor of The Courier, we had a pipeline of Wartburg students who, I would joke to my colleagues, seemed to come off the same assembly line. They had sound fundamental skills, and we rarely had to repeat concepts to them. They laid to
rest the fear that interns would extract more in time than they contributed in productivity. Indeed, the students know what’s at stake and take the tasks at hand seriously. “Wartburg students have very creative ideas of what they might wish to pursue as a vocation. Internships help them better understand possible career choices and are great resume builders. Most importantly, many internships lead to fulltime employment after graduation,” Dorrance said. So again, thanks for making these opportunities available to Wartburg students. With nearly three-quarters of our Iowa graduates and one-quarter of our out-of-state graduates remaining in Iowa, it’s also one way businesses can counter the state’s “brain drain.”
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Picking the right supervisors is crucial to business success Hiring the right people is among the biggest challenges facing any organization. The quality of an organization cannot exceed the quality of its people. Finding capable folks whose values are aligned with those of the business is critical. There’s one activity that is Rick Brimeyer more vital than is president of choosing the Brimeyer LLC, an independent right employmanagement ees — selectconsulting firm in ing the right Ames. Contact him at supervisors. (515) 450-8855. Research by Frederick Herzberg during the 1980s determined that job dissatisfaction is not merely the absence of job satisfaction. This is similar to personal relationships whereby
hate is not the absence of love; apathy is. Herzberg found factors contributing to job satisfaction are quite different than those which lead to job dissatisfaction. For example, great working conditions don’t greatly influence satisfaction. Poor working conditions, however, such as a dirty, noisy or uncomfortable workplace drive dissatisfaction. Likewise, while personal responsibility is a major contributor to job satisfaction, lack of responsibility is not a main driver of dissatisfaction. Herzberg’s study showed that a bad supervisor and a poor relationship with a supervisor where the second- and third-largest factors driving dissatisfaction. Only poor company policies and administration ranked higher. So choosing the wrong supervisor can undo all that hard work spent hiring the right people. The ideal supervisor candidate
possesses both strong process skills and people skills. They must be recognized both for what they know (Intelligence Quotient, or IQ) as well as how they work with others (Emotional Quotient, or EQ). Leading organizations recognize the supervisor’s primary role is to develop people who can solve problems and improve their portion of the business. This results in utilizing the collective brain power of all employees. Supervisor candidates must be capable teachers. They should be skilled in the work performed but even more so as a problem solver. Great supervisors have confidence within their subject matter and yet the humility to admit there’s always more to learn, often from the people they’re teaching. Strong teachers possess the perception and patience to allow others to meaningfully learn with the methods and at the pace that works best for them.
Strong supervisor candidates must also demonstrate courage, willing to risk episodes of interpersonal discomfort when fairness dictates the need for coaching a wayward employee. They won’t hide behind company policies and they understand that fair is not the same as equal. Time demands increase dramatically as one assumes responsibility for a group of people. So does the number of activities to be monitored. Choosing individuals who have demonstrated that they are organized and masters of their own time is critical. Finally, the right individual possesses a clear understanding of the business and an appreciation for how their area of responsibility fits into the big picture. They understand the overall organization is what is most important, not their specific area of responsibility. Odds are slim you’ll be lucky
enough to identify an individual that meets all these skills. If not, distinguish between “must” requirements that are valuesdriven (e.g., other-centered, courageous) and the “want” requirements that can be learned (e.g., subject matter experience, problem-solving skills). Don’t compromise on the “musts.” If all else is equal, by all means promote from within and treat experience as an asset. This sends a strong message to all employees that they are valued. Never select a current employee who isn’t highly respected among their peers, no matter how experienced. This likewise sends a strong message, but not the one intended. It’s much better to hire a person from outside the organization who possesses the skills required. The right person will quickly overcome the initial cynicism by demonstrating the needed qualities.
AN IOWA ORIGINAL.
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Insurance equals ďŹ nancial security at every stage of your life As your priorities change at every stage of life, you need to change with them, especially when it comes to insurance. Coverage that meets your needs when you are 25 years old Larry K. Fox is likely to be is a private wealth different when adviser with at 55. Ameriprise Financial Consider Inc. in Waterloo. these imporContact him tant stages and at 234-7000. the insurance needs of each. â– When you are young and just beginning to accumulate ďŹ nancial assets, your ability to earn income is likely the foundation of your ďŹ nancial future. Protecting that income is critical. If you are a 35-year-old earning $50,000 per year, let’s say you have an additional 30 years of earning potential. With estimated annual salary increases of 3 percent, you’ll earn more than $2.3 million dollars over the remainder of your career. What would happen to those
you care about if you could no longer work because of illness, injury or death? Chances are there would be hardship unless you protected your income with disability income insurance and life insurance. If your employer offers disability income insurance, you may assume you’re adequately protected. However, that coverage may be insufficient. Also, remember group disability ends when you leave your job. With today’s unstable job market, that’s something to think about. Individual disability income insurance policies are available with various optionsand may be more affordable than you think. Since coverage stays with you, job changes or unemployment won’t interrupt your protection. Another way to protect your income is with short-term life insurance that may be able to be converted to permanent insurance on. Term insurance offers inexpensive protection at a time in your life when you might have large ďŹ nancial obligations like a home mortgage, and permanent life insurance may be ďŹ nancially out of reach. Life insurance with
a guaranteed conversion feature may also give you the ability to convert to permanent life insurance in case your health changes. â– As you grow more ďŹ nancially successful, achieving your ďŹ nancial goals requires ongoing attention. It’s true that your income remains the foundation for your future, but hopefully you’ll begin to have more opportunity to improve your lifestyle, enjoy more discretionary spending and save more money. Insurance can be a valuable tool for reaching your goals. Let’s say you are a family with two wage earners and depend equally on both salaries to help with ďŹ nancial obligations like college. You will also be trying to grow your retirement savings. This may be the time to convert your term life insurance to permanent policies. This may help you accumulate tax-deferred cash value and still
provide income-tax-free beneďŹ ts in the case of your untimely death. A permanent life insurance policy can ensure a steady ow of dollars to supplement retirement income for your survivors in case you don’t reach retirement age. If both you and your spouse live up to or beyond your life expectancies, it may also give you a source of supplemental income to help control the amount of taxes you pay in retirement. â– In later years, you may wish to leave assets to loved ones or charities. You’ll also want to avoid having to deplete your assets in case you or your spouse becomes ill during this life stage. Once again, certain types of life insurance provide the exibility to reach these goals. DiversiďŹ cation through life insurance can reduce the amount of taxes due. Thanks to a tax-free death ben-
eďŹ t, it may be a good way to help offset your taxable investments so your family can make the most of your ďŹ nancial legacy. Leaving a gift to charity with life insurance is a exible, costeffective and, in many cases, taxadvantaged strategy to beneďŹ t your cause after your death. If you are wondering which life stage you are in and what type of insurance you need, an insurance review with a ďŹ nancial advisor can be helpful. Be sure to ask him or her about the insurance policy’s features, beneďŹ ts and fees, and whether the insurance is appropriate for you, based upon your ďŹ nancial situation and objectives. Because each life stage goes by too quickly, it’s important to make the most of every day. Knowing that you and your loved ones are protected will help you do just that.
Locally Owned! In addition to traditional dining, myVerona is a great place for meetings and parties! Visit our Boardroom, Stanza del Vino (the wine cellar) or Loft for: 319.266.9920 for reservations or to speak to a private dining consultant. "% &# $ t www.my-verona.com WO-052711035
WO-052711023
Now Open! " # $
JUNE 2011
cvbusinessmonthly.com
CEDAR VALLEY BUSINESS MONTHLY
THE COURIER
PAGE 13
Succession plan crucial for family-run businesses When developing a succession plan for your business, you must make many decisions. Should you sell your business or give it away? Should you structure your plan to go into effect during your lifetime Jordan Alborn or at your death? Should you transis a financial adviser with FSB fer your ownerWarner Financial, ship interest to Inc. in Waterloo. family memContact him at bers, co-owners, 235-6561 or employees or to (800) 747-9999. an outside party? The key is to pick the best plan for your circumstances and objectives, and to seek help from financial and legal advisers to carry out this plan.
Selling outright
Buy-sell agreement A buy-sell is a legally binding contract that establishes when, to whom and at what price you can sell your interest in a business. A typical buy-sell allows the business itself or any co-owners the opportunity to purchase your interest in the business at a predetermined price. This can help avoid future adverse consequences, such as disruption of operations, entity dissolution or business liquidation that might result in the event of your sudden incapacity or death. The ability to fix the purchase price as the taxable value of your business interest makes a buy-sell agreement especially useful in estate planning. Agreeing to a purchase price can minimize the possibility of unfair treatment to heirs. And if your death is the triggering event, IRS acceptance of this price as the taxable value can help minimize estate taxes. Additionally, because funding for buy-
sells is typically arranged when the buy-sell is executed, you’re able to ensure that funds will be available when needed, providing your estate with liquidity that may be needed for expenses and taxes.
Private annuity With a private annuity, you transfer your ownership interest in the business to family members or another party (the buyer). The buyer in turn makes a promise to make periodic payments to you for the rest of your life (a single life annuity) or for your life and the life of a second person (a joint and survivor annuity). Again, because a private annuity is a sale and not a gift, it allows you to remove assets from your estate without incurring gift or estate taxes. If you’re considering
WO-052711027
You can sell your business outright, choosing the right time to sell — now, at your retirement, at your death or anytime in between. The sale proceeds can be used to maintain your lifestyle or to pay estate taxes and other final expenses. As long as the price is at least equal to the
full fair market value of the business the sale will not be subject to gift taxes. But if the sale occurs before your death it may result in capital gains tax.
a private annuity be sure to talk to of your estate to your heirs. This can be especially valuable if busia tax professional. ness growth is expected. Gifting your business ■ Gifts of $13,000 per recipient If you’re like many business are tax free under the annual gift owners, you’d prefer to have tax exclusion. your children inherit the result ■ Aggregate gifts up to $5 milof all your years of hard work. lion are tax free under your lifeOf course, you can bequeath time exemption. your business in your will, but transferring your business dur- Gifting using trusts ing your lifetime has many addiYou can make gifts outright or tional personal and tax benefits. use a trust. You can use a trust By gifting the business over time, to keep control of the business you can hand over the reins grad- for as long as you want. You can ually as your offspring become establish a revocable trust, which better able to control and man- will bypass probate and allow you age the business on their own, to change your mind, or an irreand you can minimize gift and vocable trust, such as a grantor estate taxes. Gifting your busi- retained annuity trust or a grantness interests can minimize gift or retained unitrust to provide and estate taxes because: you with income for a period of ■ It transfers the value of future time and move your business out appreciation in the business out of your estate at a discount.
319-235-5999 | 1-888-531-3696 erloo, IA 1844 Ridgeway Ave. Waterloo,
Find all your latest news in
WO-052711016
PAGE 14
THE COURIER
CEDAR VALLEY BUSINESS MONTHLY
cvbusinessmonthly.com
JUNE 2011
State officials send reminder to be wary of identity theft Atlanta, GA 30348. (Beware and to put you on their do-not- and dealing with identity theft, General’s Consumer Protection of “look-alike” websites that call list. By law, they should not go to www.IowaAttorneyGener- Division, Des Moines, IA 50319. al.gov, or call toll-free (888) 777- See also: www.FTC.gov/idtheft charge you for your credit report. call you again. For information on preventing 4590 or write to the Attorney and www.PrivacyRights.org. Also, your credit report does not include your “credit score,” which is available for a small fee directly from the credit reporting companies.) ■ Consider placing a “freeze” FOR ALL YOUR DIRECT MAIL NEEDS on your credit reports. A credit freeze prevents identity thieves, Michael Voshell / third parties and potential crediOperations Manager / tors from accessing information michael@jaylincorporation.net / on your credit reports without 319-232-6850 / your approval. There is a onetime $10 fee per credit report. A freeze will not lower your credit score. ■ “Opt out.” Tell companies not to share or sell your information. First, when you receive the annual “privacy notice” from your financial institutions, fill www.jaylincorporation.net out the form and tell them not to share or sell your information. Second, ask the three credit reporting companies not to give your name to solicitors. (They sell lists to credit card marketers, for example.) Go to www. OptOutPrescreen.com, or call (888) 567-8688 to remove your name from the lists they market. You may ask to be removed for five years, or permanently. MACHINE SHOP ■ Register for the National Do Not Call Registry. Call (888) 3821222 from the phone you wish to JO B SH OP register, or go to www.DoNotCall.gov. Also, tell telephone solicitors not to call you again, WO-052711055
DES MOINES — Whether it’s a computer hacker who steals personal information through the Internet, or a thief who steals it the old-fashioned way, someone can use that information to commit fraud and steal your identity. Criminals can use the information to obtain goods or services, obtain bogus government documents, or even get a job, all under your name. ■ Protect your Social Security number. Avoid using your Social Security number as a personal identifier whenever possible. Don’t write it on a check, and avoid carrying the number in your wallet or purse. ■ Never give your credit card, bank account or Social Security numbers over the phone unless you initiated the call, and check out the business. Don’t give financial or personal information on sweepstakes entries, prize offers or warranty and rebate cards. ■ Check your monthly billing statements and annual credit reports. On your credit card bill, check for unauthorized charges. Check your credit report for errors or anything unusual. You are entitled to a free annual credit report from each of the three national credit bureaus. Go to www.AnnualCreditReport.com, call toll-free at (877) 322-8228, or write to Annual Credit Report Request Service, P.O. Box 105281,
OUR SHOP WO-052711037
Contact us for Co Corporate Wearables & Workwear.
1808 East Street . Cedar Falls Phone: 277-2385 or 1-888-652-8316 . Fax: 266-4057 www.coverall-embroidery.com
Serving the Cedar Valley for Over 30 Years
Free Catalog Available!
For breaking news coverage, photos and video updated all day
Criterion, Inc. WO-052711019
2840 BURTON AVENUE, WATERLOO, IA PHONE: 319-291-6963 FAX: 319-291-3072
HONORING EIGHT LIFETIME ACCOMPLISHMENTS ...
Barbara Adams
Kenneth Allbaugh
Bob Beach
Richard Hovey Brom
Robert Brown
Helen Guernsey
Rev. Homer Larsen
Robert Molinaro
THURSDAY, JUNE 23, 2011 Park Place Event Center 1521 Technology Parkway, Cedar Falls Noon - 1:30 p.m.
TICKET REQUEST FORM Please detach and mail to the address listed below or stop by the Courier office located at 501 Commercial Street in Waterloo to order and pick up your tickets. Orders must be received by June 15, 2011.
Your Name:
Phone:
# of tickets requested: _________ x $15 each = $ ______________ I would like to purchase a table of 8 for $120
Check enclosed
Please bill my: Visa
Mastercard
Discover
Card Number: ______________________________________________________________________________________________ 3 Digit Code (on back of card) __________________ Expiration Date: ______________________ I can pick up my tickets at The Courier Business Office (501 Commercial Street, Waterloo) Please mail my tickets to the address provided below: Address City
State
Mail to: Courier Communications, ATTN: 8 Over 80 Reception P.O. Box 540 | Waterloo, IA 50704 WO-052711162
Zip
LUNCH MENU
Fresh sliced breast of turkey served open faced on sourdough bread with garlic mashed red skin potatoes and gravy, seasonal vegetables and dessert
ORDER TICKETS TODAY USING THE FORM TO THE LEFT
QUESTIONS? PLEASE CONTACT ANGELA DARK AT 319.291.1573 or angela.dark@wcfcourier.com
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CEDAR VALLEY BUSINESS MONTHLY
THE COURIER
cvbusinessmonthly.com
JUNE 2011
Hospice works with businesses on end-of-life issues Cedar Valley Hospice is reaching out to area businesses by offering the Caring Connections program, “It’s About How You Live at Work.” As one of 35 hospices selected nationwide to pilot the program, Mary Alfrey Cedar Valley Hosis director of pice partnered advancement at Cedar Valley with several area Hospice in businesses in 2010 Waterloo. Contact including: The her at 272-2064. VGM Group Inc., Veridian Credit Union, BankIowa, Iowa WORKS Cedar Valley and Cedar Falls Utilities. The Caring Connections program educates employers and employees on the impact of caregiving, serious illness and
grief in the workplace focusing on the health and productivity of staff. This year, because of a grant from the Community Foundation, Cedar Valley Hospice is able to continue the program for businesses in the Cedar Valley. The local grant allows Cedar Valley Hospice to offer resources that address specific end-of-life needs and provide education to business leadership teams, human resources staff, supervisors and employees. Offered at no cost, the program can be customized to meet the needs of each business. “Our ultimate goal of offering the Caring Connections program,” says Jennifer Siech, community outreach representative, “is to fulfill the Cedar Valley Hospice mission of providing the
leadership and setting the standard for excellence in delivering comprehensive palliative and end-of-life care to patients and services to those who grieve. It also parallels our vision of offering innovative programs and building community partnerships, so Cedar Valley Hospice will be the hospice and palliative care provider of choice in the area that we serve.” The Caring Connections program is one of many community services offered by Cedar Valley Hospice. Organized by members of the community to provide valuable end-of-life care, Cedar Valley Hospice has grown to include children’s and adult grief counseling, LINK palliative care, the Cedar AIDS Support System and the Cedar Valley Hospice Home.
End-of-life issues including making health care decisions, caregiving, serious illness and death are tough topics to discuss, especially in the workplace. Addressing these issues will help businesses create a positive work environment and enhance productivity. Not only is it the right
thing to do, it is good business. If you are interested in learning more about the Caring Connections program, “It’s About How You Live at Work” for your business or organization, please contact Jennifer Siech, community outreach, at 272-2002 or jsiech@ cvhospice.org.
YOUR TRUSTED HOME LOAN EXPERTS
$299,900
Kimball Drive, Medical Center Greenhill Cedar Falls
Jamie Bradley 319-239-7693
• For Sale • 1.6 Acres Greenhill • Great Visibility • Ideal location for your business
Chase Rohlfsen Michelle Davis 319-269-4637 319-610-1870
Chris Fischels • 319-830-5000
$350,000 $16 NNN
$545,000
www.valleyb.com 1704 W 1st St, Cedar Falls
• 1,500 sq. ft. • End Cap Retail Suite • Great Visibility • Located on corner of W 1st St. & Hudson Rd. • Immediate possession available Chris Fischels • 319-830-5000 WO-052711045
3623 Canterbury Ct, Waterloo
2820 Falls Avenue, Waterloo
• For Sale • 3,624 sq. ft. with fenced in yard • Great for Day Care • Located near intersection of Kimball and Brookeridge
• For Sale • Established restaurant • 3,828 sq. ft. • Ample Parking • Renovated interior and huge hood system
Jim Sulentic • 319-215-5000
Jim Sulentic • 319-215-5000 WO-052711034
3731 Pheasant Lane, Waterloo, IA 50701 1820 Main Street, Cedar Falls, IA 50613
Want to get posted? For advertising opportunities in future cvbm directories, contact Jackie Nowparvar at 319-291-1527.
Building •Maintenance • Services
Morrison Consulting Customized accounting solutions for small businesses
Leah Morrison Consultant 11643 Kimball Ave. Suite B Waterloo, IA 50701 Phone: 319-231 -48
73
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PAGE 18
WWW.GREATERCEDARVALLEYCHAMBER.COM
RiverLoop Expo Plaza Barracade
Thank you to our Sponsors!
Carnival
3rd Street
Commercial Vendors Hobbies & Crafts
Porta Potties
Shade Tent
Porta Potties 1
9
2 3
10 11 12
4
Stage Beer
Id Tix
MidwestOne Bank
5
Activities
13 14
6
Family & Kid’s
15 7
16
Stage
17 8
Community National Bank
18
Food Court Barracade
City of Waterloo Community National Bank GMAC Mortgage Greater Cedar Valley Alliance & Chamber KWWL Television Life 101.9 MidAmerican Energy Mix 96.1 KCVM Ramada Convention Center Signs & Designs 93.5 The Mix 1650 The Fan US Bank Veridian Credit Union VGM Forbin Wheaton Franciscan Healthcare-Iowa, Inc.
Park Avenue
My Waterloo Days 5K Walk/Run Saturday, June 4, 8:00AM Starts and finishes at Kingsley Elementary School 201 Sunset Rd., Waterloo
9
11 Lafayette St.
12
Sycamore St.
Cedar River
Cedar St.
11
Sponsor: 5
Commercial St.
2 Riverloop Exposition Plaza 3
Carnival Parking
4
Carnival Parking
Legend 1 - Reviewing Stand 2 - Restrooms 3 - First Aid 4 - Public Market 5 - Library 6 - Waterloo Courier
7 End
Parking Ramp
8
2 Park Ave.
Jefferson St.
Bluff St.
6 1
Start
Parking available on the TechWorks campus Sponsored by Waterloo Black Hawks Booster Club
10
Mulberry St.
Staging
7 - 5 Sullivan Brothers Convention Center 8 - Russell Lamson Bldg. 9 - Court House 10 - City Hall 11 - Chamber Of¿ce-River Plaza Bldg. 12 - Black’s Bldg.
Staging
5th St.
Friday, June 3, 4:00PM-12:30AM Saturday, June 4, 8:00AM-12:30AM
Lincoln Park
4th St.
Shuttle System Schedule
5th St.
My Waterloo Days Parade Route Saturday, June 4, 9:30AM Sponsors:
Parking Lot
Vendor Hours Friday June 3 4:00 PM - 11:00 PM Saturday, June 4 10:00 AM - 11:00 PM Sunday, June 5 11:00 AM - 5:00 PM
Five Sullivan Brothers Convention Center
STAGING
Queen’s Apple Dominos Donuts R Us Kiwanis Mt. Carmel Becker Concessions Shooters Grill Marios HyVee Logan Avenue
4th St.
10. 11. 12. 13. 14. 15. 16. 17. 18.
Park Ave.
JNE’s Hog Wild Wings Paynes Church St. Demetrios Friendly Fryer LLC Nona’s Concessions Jamaican Smoothies Other Place Concessions House Entertainment
3rd St.
1. 2. 3. 4. 5. 6. 7. 8. 9.
Jefferson Street
Food Court
3rd St.
JUNE 2011
Staging
PAGE 19
Cedar Valley Leadership Institute 2011 Graduating Class. Congratulations!
Good MorningCedarValley-Thursday,-June 30 7:30 - 9:00 a.m. Sunnyside Country Club, 1600 Olympic Dr., Waterloo
The quarterly networking breakfast includes updates on city and county issues and programs from Mayor Buck Clark, Mayor Jon Crews and a Black Hawk County Supervisor. There is no cost to attend. RSVP by June 23. Alliance & Chamber networking events are open to all Alliance & Chamber members and their employees. Premier Sponsor For reservations, please calll the Alliance & Chamber office at 232-1156 or email Bette Wubbena at bette@ greatercedarvalleychamber.com.
Jordan Alborn FSB Warner Financial
Cindy Braatz VGM Group, Inc.
JUNE 2011
WWW.GREATERCEDARVALLEYCHAMBER.COM
Amy Becker Manpower
Kathy Christensen Jim Denholm CBE Group, Inc. CUNA Mutual Group
Gold Sponsors
Spring Golf Classic-Thursday, June 9 Juanita Eiklenborg Laura Folkerts Abby Howie Brady Gruhn Dutton, Braun, Lockard Development MidWestOne Bank VGM Group, Inc. Staack & Hellman, P.L.C.
Irv Warren Memorial Golf Course, 1000 Fletcher Ave, Waterloo
Two Shot Gun starts @ 7:30 a.m. and 1:00 p.m. Four Person Best Shot Cost is $300/Morning and $350/Afternoon (includes green fee, cart, continental breakfast, lunch, social) For reservations, please calll the Alliance & Chamber office at 232-1156 or email Bette Wubbena at bette@greatercedarvalleychamber.com.
Ali Ingman UNI
Juan Ledesma John Deere
No Pictures Available for-Dr. Adrian P. Talbot, Cedar Falls Community School District Matt Phillips Alan Shakespeare Caleb Sieh, Lincoln Savings Bank VGM Group, Inc. Wells Fargo Bank, N.A.
Lindsey Smedley Renee Steffen Tim Turnis Jeremy Strohman Veridian Credit Union VGM Group, Inc.University Book & Supply INVISION
Francisco Verastegui John Deere
Jill Waddle VGM Group, Inc.
Lisa Wagner John Deere
Brooke N. Wittkop Hogan-Hansen, P.C.
JUNE MARCH PAGE 2011 202010
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WWW.GREATERCEDARVALLEYCHAMBER.COM
Celebrating Cedar Valley Innovation!
RIBBON CUTTINGS
Congratulations to Mark Mayfield, owner of Adrenaline X Mobile Laser Tag! Winner of the Dream Big Grow Here Cedar Valley contest. Mark received $5000 to help grow his busines in the Cedar Valley.
Cedar Falls Business and Professional Women
JUNE CALENDAR OF EVENTS
June 2 - 5 My Waterloo Days June 2 Thurs. TechBrew, Voodoo Lounge, Cedar Falls, 5:00 - 7:00 p.m. June 7 Tues. TechWorks Board Mtg., Sky Event Centre, Blacks Building, 3:00 -4:00 p.m. Alliance Board Mtg., Sky Event Center, Waterloo, 4:00 - 5:30 p.m. June 8 Weds. Finance Committee Mtg., Waterloo Office, 8:00 - 9:00 a.m. June 9 Thurs. Spring Golf Classic, Irv Warren Golf Course, Waterloo June 10 Fri. Government Relations Mtg., Cedar Falls office, 7:30 - 8:30 a.m. June 14 Tues. Ambassador Mtg., Clarion Inn University Plaza, Cedar Falls, 4:00 - 5:00 p.m. June 16 Thurs. Investor Relations, Cedar Falls Office, 8:00 - 9:30 a.m. June 23 Thurs Greater Cedar Valley Chamber Board Mtg., Clarion Inn University Plaza, 5826 University Ave., Cedar Falls, 8:00 - 9:00 a.m. June 30 Fri Good Morning Cedar Valley, Sunnyside County Club, Watrloo, 7:30 -9:00a.m.
NewAldaya Lifescapes 7511 University Ave., Cedar Falls
Greater Cedar Valley Alliance & Chamber names new Executive Assistant Sandi Sommerfelt grew up in the Cedar Valley and currently resides on an acreage near Frederika. She graduated from the University of Northern Iowa with a BA in Business Management and was previously the VP – Director of Operations and Executive Assistant at Jackson’s International Auctioneers & Appraisers in Cedar Falls. Sandi is thrilled to be a part of the Greater Cedar Valley Alliance and Chamber, and is excited to work with the community and its’ business leaders to help promote and grow the Cedar Valley!
PAGE 21
WWW.GREATERCEDARVALLEYCHAMBER.COM
JUNE 2011
Family, Small Business Dominate Cedar Valley Landscape S. J. Dust - CEcD President & CEO Greater Cedar Valley Alliance & Chamber
x amily Ƥrms c m rise ͔͜Ψ t ͔͝Ψ all business enter rises in North America x ͙͗Ψ o ortune ͙͔͔ com anies are amily-controlled x amily businesses account or ͙͔Ψ o .S. ross domestic roduct x amily businesses enerate ͚͔Ψ o the countryǯs em loyment and ͛͜Ψ o all ne ob creation ȋ ich- lintȌ
These companies are fun to work with from the economic development perspective. They are entrepreneurial. They have the beneƤt of their history and community. They have vision and concern for future generations. They are committed to the community. Look around the Cedar Valley and see the impact of generations of families philanthropy such as; Young, Warren, Gallagher, and Guernsey. Their eơect on our community is apparent. One thing I have to say to those who make family businesses work: I admire you. There are many dynamics in a family business that make it work. Many of these businesses have to be managed diơerently than a Ƥrm of unrelated managers or owners. The successful ones understand that success for future generations often relies on talent from outside the family. For interesting facts and observations regarding the family businesses’ role in the economy and their behavior, visit http:// www.umƪint.edu/som/mƟc/resources/Ɵ̴data.htm. (And my apologies to any of our strong family operated businesses that I didn’t include – wasn’t intentional.) From time to time, an investor voices concern that we focus too much on larger companies. Our focus is as much to create an environment where small businesses can thrive to realize their growth goals and dreams as it is to recruit the next big dog operation. Through eơorts to make the environment work for our family owned small and large businesses, we help you increase wealth for all, so in turn these family businesses allow us all to:
esterdayǡ artici ated in our Ne ember rieƤn . One member described her new business – a leadership consulting business located in Waverly – and how every member in the family has a role. It’s not a family business in that everyone is doing related business tasks, but they all clearly understand that for her to be successful in an entrepreneurial adventure, it takes the family’s support. That’s always true. On the other side of the room was another family business – a couple who operates a music business. There is a division of work, but no doubt they do whatever it takes to make the ongoing venture successful. Point is, there are many family businesses of all descriptions celebrating Small Business Week, together, every day. That’s typical of the Cedar Valley economy. One of the impressive features of the Cedar Valley economy is the large number of family owned and operated businesses of all sizes. When asked about well known family businesses, some may Be Part of Something Greater – The Cedar Valley of Iowa. go to names like Forbes or Koch. Forget that. The Cedar Valley boasts a lot of very successful family owned and or operated Ƥrms. Our well known family names and operations that should make anyone’s family business list include names like Bertch Cabinets and Lost Island, PFG/Best (Wasendorf), The CBE Group (Penaluna), Schumacher Elevators, Peterson Genetics, Rada Knives, and Lockard Development. That doesn’t begin to exhaust the list which also includes Mudd Advertising, Crystal Dist. (Poe), Lockard Companies, PCI (Peterson), Northland Oil (Petersen), Nagle Signs, Sulentic (Waterloo Industries), and we shop for cars with Skarlis (Community), Deery, Rydell, and Witham. Many strong names in the Ƥelds of insurance, real estate (such as Nelson, SulenticFischels, and NAI Iowa Realty Commercial – Cedar Valley), service (like Schmitt Telecom) and retail (Palace Clothiers is one that comes to mind) are family businesses.
JUNE 2011
WWW.GREATERCEDARVALLEYCHAMBER.COM
PAGE 22
Welcome New Members! ABCM-Harmony House Health Care Center 2950 W. Shaulis Rd. Waterloo, IA 50701 Phone: 319-234-4495 Fax: 319-232-1886 Website: www.abcmcorp. com Contact: Kellie Leasure Category: Health Care
IAHomesForSale 235 White Pine St. Robins, IA 52328 Phone: 319-292-3726 Website: www. IAHomesForSale.com Contact: Jaymie Feldman Category: Real Estate
Select Structural Engineering 528 Mulberry St. Waterloo, IA 50703 Phone: 319-287-9062 Contact: James Howard Category: Engineering Services
Don Lentz Heating, Cooling, Refrigeration & Plumbing 81 Sycamore St. Waterloo, IA 50703 Phone: 319-232-9872 Fax: 319-232-3503 Website: www.donlentz. com Contact: Mike Walden Category: Plumbing/ Heating/Air Conditioning
Senior Wishes LLC P.O. Box 376 Denver, IA 50622 Phone: 319-415-1757 Fax: 319-984-5768 Website: www.seniorwishessw.com Contact: Julie Woodard
Angie Chaplin Leadership Partners, LLC P.O. Box 100 Waverly, IA 50677 Phone: 319-239-0750 Fax: 319-352-4423 Website: www.angiechaplin.com Contact: Angie Chaplin, Owner/President Category: Consulting/Social Media Management Mama Mimi’s Take ‘N Bake Pizza Control-o-fax 226 Brandilynn Blvd. 3070 W. Airline Hwy. Cedar Falls, IA 50613 Waterloo, IA 50703 Phone: 319-277-7555 Phone: 319-234-4561/ Fax: 319-277-7676 800-344-7777 Website: www.mamamimis. Website: com www.controlofax.com Contact: Jim Andreassen, Contact: Elloha Quigley President and CEO Category: Printers Category: Restaurant Benevolent & Protective Order of the Elks, #290 407 E. Park Ave. Waterloo, IA 50703 Phone: 319-234-7568 Fax: 319-235-5218 Contact: Kevin Andriano Category: Associations/ Organizations
Category: Consulting Shaw Electric Inc. 905 Cedar Bend St. Waterloo, IA 50703 Phone: 319-296-1048 Website: www.shawelec.com Contact: John Greiner, Project Manager Category: Electrical Contractor
ƥ Ǥ 4113 University Ave. Cedar Falls, IA 50613 Phone: 319-859-9000 Fax: 319-859-9001 Website: Ǥ ƥ Ǥ Contact: Angie Camlin ǣ ƥ Ƭ Employment Agencies
• Flooring • Mouldings • Mantels • Countertops • Bar Tops • Wall & Ceiling Panels • Custom Wood Parts • Large Wood Slabs • Interior and exterior doors • Stairs • Railing systems
Mod Hair Color Salon & Beauty Store 4507 Algonquin Dr. Ste. B Cedar Falls, IA 50613 Phone: 319-553-1080 Website: www. modsalonbeautystore.com Contact: Jody Carrier / Heather Halbfass Category: Beauty Salon WO-052711070
Want to get posted? For advertising opportunities in future cvbm directories, contact Jackie Nowparvar at 319-291-1527.
Flexibility. Express Employment Professionals has the flexible solutions to handle the ups and downs of employment in today’s economy. t "ENJOJTUSBUJWF t $PNNFSDJBM t 1SPGFTTJPOBM
(319) 277-6603 3014 Rownd Street Cedar Falls, IA 50613
Want to get posted? For advertising opportunities in future cvbm directories, contact Jackie Nowparvar at 319-291-1527.
FSB War ner
Financial, Inc.
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JUNE 2011
cvbusinessmonthly.com
CEDAR VALLEY BUSINESS MONTHLY
THE COURIER
PAGE 25
Photos by NANCY NEWHOFF / Courier Editor
Dream Big Grow Here At left, Cary Darrah of Cedar Valley TechWorks and Pete Hill of Lincoln Savings Bank at the Dream Big Grow Here awards ceremony May 10 at Sunnyside Country Club in Waterloo.
Above, Dream Big Grow Here Cedar Valley contest winner Mark Mayfield, left, owner of Adrenaline X Mobile Laser Tag, a new startup company in Cedar Falls, accepts a $5,000 first-prize check from Jean Trainor, chairman of the Greater Cedar Valley Alliance, May 10 at Sunnyside Country Club in Waterloo.
Don’t wish your house had been protected. Monitoring starting at $1995 per month No contract
WO-052711038
Sarah Miller Caldicott, great-grandniece of Thomas Edison, left, was the keynote speaker May 10 at the Cedar Valley Alliance Dream Big awards ceremony at Sunnyside Country Club. At right is Cedar Valley Alliance CEO Steve Dust
WO-052711041
4017 University Ave Waterloo IA 319.234.0344 dtvmaxss@aol.com www.maxss.com
Everything For Your Home A/V For Commercial Systems Home Theater Meeting Rooms Whole House Audio Offices Surveillance Cameras Retail Alarms Restaurants Central Vac Bars Satellite Theme Parks Phone Systems Churches Intercom Lighting Control Computer and Phone Wiring
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Family businesses are worth preserving through generations When you think of the word “heritage,” what does it bring to mind? What about the words family-owned business? According to the Small Business Administration, about 90 percent of American businesses are family-owned. The familyowned business is also the backPatricia bone of our econHarkin omy. Newsweek is director magazine says, of business development with “Family-owned Financial Decisions businesses conGroup in Waterloo. tinue to form the Contact her at backbone of the 233-8476 or American econopharkin@fdg.net. my. Consider the following statistics reported by the University of Southern Maine’s Institute for Family-Owned Business: Some 35 percent of Fortune 500 companies are family-controlled. Family businesses account for 50 percent of U.S. gross domestic product. They generate 60 percent of the country’s employment and 78 percent of all new job creation.”
So what is a “family-owned business?” Chapter 25(a) of the Iowa Targeted Small Business Certification Program says it is a business owned by more than one member of one family with the following characteristics: ■ Ownership is shared by family members. ■ Profits are disbursed among family members. ■ The business tax return is filed in the name of the company with the family members listed as officers. In the Midwest when we think of a family-owned business, farming may top the list. A 2009 USDA report states that 97 percent of farms are family-owned farms, and the number of farmers 65 years and older is increasing by 18 percent. In our “graying” society those numbers can become a significant cost to a business. This cost can occur from failure to transfer the leadership role to the next generation or when the family “CEO” becomes ill or disabled. Chances of becoming disabled or ill increase with age. When we think of a family-owned business, we should also think of large corporations.
Cargill is an example of a family-owned corporation. Their economies of scale are different, but their internal workings are much the same. We must also remember the ‘mom and pop” businesses All share the same concerns: leadership selection, skilled employees, employee absenteeism, production risk, market risk, institutional risk and financial risk. For a family-owned business, leadership and employee selection must be based on qualifications and not on their DNA. Failure to choose a qualified successor can destroy the family and also the company. This is the time to count on your succession plan and to bring in your already established team of professionals — CPA, lawyer and financial adviser. Unexpected illnesses, accidents, disabilities
and divorces are among the reasons two-thirds of family-owned businesses fail to successfully transition into the next generation (www.gaebler.com). Risk management is the key to a smooth transition. Without the use of wills, life insurance, disability insurance, succession planning and estate planning, the impact of the unexpected can be devastating for the family and for the business. Implement these tools well in advance of their need and make sure you have confidence in your plan. So, why do we delay planning? The National Ag Safety Database tells us that more than 13 million individuals in rural America are affected by disabilities and that agricultural injuries affect the elderly in substantial numbers. We’ve all heard messages reminding us about the impor-
tance of estate planning, living wills, power of attorney, etc. Do we listen? The baby boomers are in the midst of the transfer era. Wealth transfer combined with business succession transfer will greatly impact the generations to come. Our family-owned businesses are vital because they contribute to the gross domestic product, employment opportunities and job creation. Each year, a typical family-owned business will donate $50,000 annually to philanthropic causes, mostly to local, educational and religious organizations (MassMutual/Raymond Institute American Family Business Survey, 2003). The family-owned business is the backbone of our economy and a part of our heritage that we must transfer into the next generation.
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‘Smart design’ a good decision when remodeling being used as well as low volatile organic compounds adhesives. In the midst of these adaptations in a reduce, reuse, recycle approach to remodeling and new construc-
tion there is also a return to using oak, often quarter-sawn, for furniture and cabinetry which gives a richer look. In planning a home or office
remodeling project, make sure to seek out a designer/builder concerned with smart design — someone who will invest the time and energy into listening to
your ideas and designing cabinets or furniture that will not just fill the space, but meet your specific needs for storage and function as well.
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Home remodeling, including kitchen and bathrooms, seems as popular as ever. This should come as no surprise since the new housing market has slowed down some, and people are looking to fix up what they already have. Now might be Steve Kratchmer a good time to designs and builds consider remodcustom cabinets eling a kitchen or and furniture office, and incorat Kratchmer porating some of Cabinets in what I call “smart Waverly. Contact With him at 352-5031 design.” good planning and making use of every available inch of space, more can be done with less. With smart design it is not just a matter of setting a bunch of cabinets in a room, but deciding what would work best in the space and then designing the cabinets to serve that function. This is true regardless of the space or scope of the project: whether residential kitchens, bathrooms, family or mudrooms, or a commercial projects like a new reception desk or shelving and filing systems for a busy office. Another component of smart design is incorporating some of the many new products that increase the function of cabinetry. Products can make drawers open automatically with just a touch of the drawer front. This increases the ease of use, especially with large drawers or trash pull-out and in busy offices and clinics. There also are pull-out racks available for virtually anything that can be kept in a cabinet. These provide easier access to whatever is stored, which means the items are more likely to be both used and returned to their proper place after use. Smart design also incorporates more environmentally friendly approaches like including the use of reclaimed or sustainable woods in more kitchens than ever before. In a similar vein, more water-based finishes are
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There are simple paths to beating stress using basic nutrition Stress is common in everyday life at home, in relationships, at work or at school. Stress could also be brought on by divorce, illness or losing a loved one. Stress can have an affect on our sleeping pattern. How our bodies Marilyn cope with stress Bartels is owner of TnK can have a big impact on how Health Food Store in Waterloo. we feel. Stress can Contact her at make us sick, or 235-0246. eventually cause chronic health concerns. How are you coping with stresses in your life? Have you ever heard the expression “Don’t sweat the small stuff?” Some things really aren’t worth getting stessed-out about.
There are many ways of coping with stress. Deep breathing is important in calming the nervous system. Going for a long walk, exercising or being involved in a sporting activity may be a great way to cope with stress. Prayer or positive visualization are a couple other ways to beat stress. Some people are stress eaters. When they feel stressed, they may head for the fridge or freezer, often not choosing good-quality foods. Over a period of time this may cause unexpected weight gain. Other people may have very little appetite during a stressful time, which could result in weight loss. A variety of natural alternatives exist to relieve stress. Chronic stress can deplete our bodies of minerals. Supplementing with some extra minerals daily can help. Magnesium is an extremely important mineral to everyday
health, especially at stressful times. Muscles must have adequate amounts of magnesium in order to relax. On a side note, we hear so much about calcium being needed for strong bones, but magnesium must be included for bone health as well. Other beneficial stress busters are passionflower, holy basil, inositol, L-theanine, GABA and 5HTP. Passionflower and holy basil are herbs often used for relaxation and to alleviate anxiety. Inositol is related to the B vitamins. It has been shown to reduce anxiety and panic attacks. L-theanine is an amino acid used for its relaxing and antianxiety effects. L-theanine is a component found in green tea. Go ahead and enjoy your cup of tea! You might need to drink more than just one or two cups of tea per day to get enough of a
relaxing benefit from it. GABA (Gamma-aminobutyric acid) is an amino acid that works as a neurotransmitter in the central nervous system. It may aid in proper brain function. 5HTP is an amino acid that increases the brain’s production of serotonin, which promotes relaxation. It has also been shown to improve the
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symptoms of anxiety. Although these are natural alternatives to stress or anxiety, some of these should not be combined with many of the anti-anxiety or antidepressant medications. Stop by your local health food store and check out the many opportunities are available for relieving stress.
JUNE 2011
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CEDAR VALLEY BUSINESS MONTHLY
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Cedar Valley Alliance contest winner kick starts laser-tag business By JIM OFFNER jim.offner@wcfcourier.com
WATERLOO — Ten years as a U.S. Army National Guard medic served as inspiration for Mark Mayfield’s new company, Adrenaline X Mobile Laser Tag — whose focus is a war-like game with no victims. Mark “I like basing Mayfield things on teamwork,” said Mayfield, whose company won the $5,000 prize in the Greater Cedar Valley Alliance’s first Dream Big Grow Here Cedar Valley contest for small businesses in the region. Adrenaline X Mobile Laser Tag edged out the startup Broad Street Brewing Co. in Reinbeck, 3,578 votes to 3,160. Broad Street co-owner Trevor Schellhorn is converting a drycleaning establishment in Reinbeck into a micro-brewery and tap room and expects to open by the July 4 weekend. Schellhorn missed out on the prize money, but he said the exposure the contest brought was priceless. “We realized at the start that even if we didn’t win, we would make that up in business that’s going to come back around through all the exposure,” he said. “It really made us think outside the box as far as sort of knocking down doors and screaming our name in people’s face.” Mayfield, who completed a bachelor’s degree in youth, leisure and human services at the University of Northern Iowa in May 2010 after an 18-month stint in Iraq with the Waterloobased 1st Battalion, 133rd Infantry, formed his Cedar Falls-based company in June. The idea was to combine his formal education, military experience and a little high technology to create laser-tag events suited for groups ranging from 10 or 12 to hundreds of participants. The company still is in its nascent stage, with Mayfield’s
wife, Alisha, and several parttime helpers putting on three or four events per month. Adrenaline X takes its inventory of 15 inflatable cylindrical “bunkers” and Pippmann lasertag “guns” to a site, sets up a computer-controlled system and turns teams of “combatants” loose on each other.
“We can pick different game modes they want to play,” Mayfield said. “We use a computer system, and I can track who shot who, the hit percentage. They know who the best of the group is. But the ultimate goal is for the team to succeed, and we can switch sides, teams and game modes.”
The cost is $350 for an event, which can be as small as birthday party or as large as a youthgroup meeting. There’s also a 20 percent discount for members of the military and college students with a valid ID, Mayfield said. The winnings from Dream Big Grow Here will serve as key seed money, Mayfield said.
“It’s a launching pad to bigger things,” he said. “We can get a couple more guns. That way we can have larger parties. We can get more bunkers to create a bigger field to make things more interesting. We need a trailer to transport our stuff in and keep it safe. It’s also going to help us in advertising.”
A personal, more meaningful approach to financial planning. Whether you’re a small business owner, evaluating your estate plan, or sending your kids to college, We can help you plan to reach your financial goals through personal, customized financial planning. Call (319) 234-7000 and ask for Larry today!
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Reputable nonprofits can tell you where your money goes Technological breakthroughs like the Internet, computers, smart phones and online banking have increased the ability to know the financial flow of any business or organization. This increased awareness has prompted people to understand how donations are spent through nonprofit orgaKelly Warren nizations, which are held to a very is community relations officer strict standard of accountability in with American Cancer Society/ order to maintain Midwest Division, a 501c3 status. Inc. in Waterloo. Many people Contact her at have had to take 272-2880. a deeper look at their finances and are making smarter spending decisions, so it is only fair to ask a nonprofit organization, “Where does the money go? “ Any reputable organization should be able to provide answers and offer a transparent view into how donations are spent. When you receive a phone call, email, or letter asking for a donation, do your research before mak-
ing a gift. Many organizations raise money for worthy causes; however, how an organization allocates income indicates how dedicated it is to the cause. Here are some key tips on researching nonprofit or charitable organizations before getting involved or making a donation: ■ Visit their website. Any reputable nonprofit organization should have website with legal information, contact information and some indication of how they allocate their income. ■ Find out when the organization was established. Has it always upheld a financially responsible and ethical reputation throughout its existence? ■ Be sure the nonprofit organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code and is eligible to receive contributions deductible as charitable donations for federal income tax purposes. ■ Call the organization to get any answers you are looking for. A reputable organization should be able to answer your questions. ■ Check the Better Business Bureau website, www.bbb.org. Ensure that the organization is
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accredited or has a good record. ■ Check www.charitynavigator. org, a guide to intelligent giving. ■ If you receive a call, letter or email, you feel is suspicious, trust your instincts and take at least one of these steps before making a gift or getting involved. Since 1913, the American Cancer Society has been one of the most trusted nonprofit organizations because of its meticulous donation handling process. Over three-fourths of the overall income to the American Cancer Society is put back into research, prevention, education, detection and patient support. The American Cancer Society has invested more than $3.4 billion in research nationwide to help better understand, prevent and cure cancer; the secondhighest funder of cancer research next to the U. S. government.
The American Cancer Society is currently funding 10 research grants in Iowa — nine at the University of Iowa and one at the University of Iowa Hospitals and Clinics — totaling $6.3 million. In addition to research, a majority of the allocated funds in the American Cancer Society Midwest Division are spent on prevention, early detection and patient support. Education and prevention are important because two-thirds of all cancers are preventable. Imagine if 11,500 fewer Iowans were diagnosed each year. For patient support, donations allow the American Cancer Society to offer free lodging at the Hope Lodge to cancer patients undergoing long-distance treatment. Rides to doctor appointments or treatments are available through the Road to Recovery program. Several other preven-
tion and educational programs are offered locally and nationally – including smoking cessation, sun safety and tips on health. In addition, a 24-hour hotline, (900) 227-2345, is available to anyone seeking support, answers or services for cancer patients. When the American Cancer Society was established in 1913, cancer was a death sentence, but much progress has been made thanks to supporters. Thanks to the research and education from the American Cancer Society, the average five-year survival rate for all cancers is now 68 percent. We are creating about 300 more birthdays nationwide each day. As we save lives we are giving people more of the most precious commodity: time. More time with families and friends, more memories, more milestones … and more birthdays.
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Farmers, engineers discuss design at ag machinery conference percent, data indicate. The average age of farmers in Iowa is 56. Moore, in his mid-50s, said it takes three days to switch pre-
cision ag equipment from one Additional training would be piece of equipment to another, helpful, he said. and sometimes computer screens are hard to read and understand. See MACHINERY, page 33
Frank Moore Agricultural Machinery Conference speaker
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RV IC
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ideas. Moore said any information he can provide will help not only him but other producers in the future. “I can give them a sense of what farmers are going through and how decisions are made,” Moore said. “Precision agriculture has taken over.” Moore said engineers have to keep customers in mind. Farming has changed from a labor-intensive occupation to one that depends on technology. That means fewer and older farmers working the land. In the mid-1800s, about 60 percent of the nation’s population farmed. Today, it’s less than 1
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WATERLOO — Frank Moore embraces technology on his farm, even though his newest tractor still has a cassette deck. Moore, who farms 1,600 acres near Cresco, divulged those facts to ag engineers to make a point. Not every farmer can or wants to buy a new tractor, combine or sprayer every year, he said. But equipment needs to be designed to help farmers get the most out of their acres for the longest period of time. Moore was the featured speaker on Day 2 of the three-day Agricultural Machinery Conference at the Five Sullivan Brothers Convention Center in downtown Waterloo last month. An estimated 600 ag equipment designers attended the event, organizers said. Moore, who also owns Three Rivers Ag Consulting, said the opportunity to speak at the conference was too good to pass up even though he still had corn to plant. The conference is a forum for ag engineers and other professionals in the field to exchange
“I can give them a sense of what farmers are going through and how decisions are made. Precision agriculture has taken over.”
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MATTHEW PUTNEY / Courier Photo Editor
The 26th annual Agricultural Machinery Conference took place at the Five Sullivan Brothers Convention Center in Waterloo last month. The event, which was in Waterloo for the first time, covered three days.
MACHINERY From page 32 “Equipment needs to be friendly to older farmers,” Moore said. DISTek Integration Inc., a software production company in Cedar Falls, is developing ways to make producers’ lives easier. The company was an exhibitor at the trade show. Nick Elliot, DISTek business development specialist,
said Moore’s thoughts didn’t go unheard. His company has software to combine multiple monitors for different pieces of equipment into one. “We’ve supported customers in that effort already. In the future, everyone has to consider standardizing designs,” Elliot said. Moore spoke of the need to make 300-bushel-per-acre corn the norm to feed and fuel the world. Kyle Tingle, a senior accounts manager for John Deere, said the
company is making equipment to handle the workload. “That’s the name of the game,” Tingle added. “Bring equipment to market that the customers want and need.”
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New family-owned eateries spice up downtown Waterloo’s culinary scene By JOHN MOLSEED john.molseed@wcfcourier.com
WATERLOO — A couple more culinary cultures are converging on downtown Waterloo. A Thai restaurant and a Mexican restaurant opened in May. El Patron Family Mexican Restaurant, 301 E. Fourth St., early in the month. My Thai, 624 Sycamore St., was to open by the end of May. The new venues join a roster of restaurants that includes Jamaican, Irish, Chinese and multiple American restaurants. El Patron moves into the former home of La Chiquita, which opened in 1994 and closed in October last year. Aurora Torres, co-owner of El Patron, said the location could help the new business establish a customer base. “That’s kind of why we chose it,” Torres said. The restaurant is the first business she and her husband, Vicent Martinez, have started. Martinez worked at Los Margaritas and will bring some of his experience
Providing Third Party Integrated Logistics, Public Warehousing JIT Services, Trucking, and Reclaim Service BRANDON POLLOCK / Courier Staff Photographer
Aurora Torres, owner of El Patron Family Mexican Restaurant, stands in the renovated dining room.
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324 Duryea Street • Waterloo, IA 50701 Phone: 319-236-0467 • Fax: 319-274-8308 www.wwscusa.com
from there to El Patron, Torres said. Although El Patron’s location may be familiar to downtown visitors, the interior has had a facelift.
See RESTAURANTS, page 35
MODERN BANKING AND OLD FASHIONED FRIENDLINESS He at Peoples Savings Here Bank in Dike, we believe that peo people deserve a bank that k knows their customer. Face to face means connecting to our clients co and establishing a common ground. Stop in and find gro out ou what Old Fashioned Friendliness is all about. Fri
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RESTAURANTS From page 34 New carpet, booths and tables give the space more of a family restaurant feel, Torres said. My Thai opened in downtown Waterloo after owners Banjong Wachakit and Wanida Thomas closed Thai Blessing II Go, which was in a strip mall in Cedar Falls. “We’re still putting finishing touches on everything,” Panida Wachakit, Banjong Wachakit’s daughter, said in the first week of May. Thai Blessing closed in April 2010. “When I go out or go shopping somewhere, I see customers,” Banjong Wachakit said. “They say, ‘When are you going to open?’” The space at 624 Sycamore needed a full renovation. The restaurant qualified for six months of free rent through a Iowa Department of Economic Development program designed to help cities affected by flooding in 2008 fill up spaces in floodaffected areas. Both restaurant owners said being downtown gives them access to foot traffic. “It looks like there’s a lot of traffic in and out,” Torres said “A
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Steve Broell, with Mike Fereday Heating & Air Conditioning, hooks up a stove at My Thai Cuisine restaurant in Waterloo on May 2. lot of people walking around.” Having more variety will help keep that traffic up, said Jeff Kurtz, executive director of Main Street Waterloo. “We want to be known for our diversity,” Kurtz said. “What’s exciting is downtown is continuing to develop itself as a destination for entertainment and places to eat.” The two new eateries join Newton’s Paradise Cafe and Black’s 501 Steakhouse to open in the last year. Black’s, formerly Roux
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Scott Parsons, LUTCF (319) 233-3380 1120 W 4TH ST Waterloo scottparsons@allstate.com
Orleans Cajun-style restaurant, opened with a new format in March. Newton’s opened in a renovated space at East Fourth Street and Sycamore on the same block as My Thai. WO-052711010
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Study charts how recession affects recent college grads
JUNE 2011
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KANSAS CITY, Mo. — A national survey of 2006-2010 college graduates has found that just over half are working full-time. The survey, released last month by Rutgers University’s John J. Heldrich Center for Workforce Development, said 53 percent of the graduates are working in fulltime jobs. Twenty-one percent are in graduate or professional schools. Seven percent are unemployed, and seven percent are working part-time and looking for fulltime work. Among those working, up to one-third of the recent graduates said they accepted a job that paid less than they expected or was below their level of education or was not in their field of interest. Eighteen percent took a job without health benefits. The median starting pay for 2009 and 2010 graduates was 10 percent lower than the salary received by those who entered the workforce in 2006 and 2007, the researchers said. Half the graduates said they’d taken jobs that didn’t require a bachelor’s degree. The survey found male graduates were making more than the women. “There is more than a $5,000 difference in starting salaries, with a median for men of $33,150 compared to just $28,000 for women,” the report said. Nearly one-third of the graduates had quit a job since graduation. Twelve percent said they’d been laid off. Twenty-three percent worked for temporary agencies or done seasonal work. Despite the less-than-rosy job market they encountered, nearly three-fourths of the graduates surveyed said they had no second thoughts about the value of their college education.
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How strong is the family business in the Cedar Valley these days?
Family is the heart of our business. It starts from our family working closely together in our office to serve seniors in the community. We pass that family relationship on to our CAREGivers who impact the lives of seniors they care for every day. We create a feeling of unity and treat everyone like they are our family. As once said to us from a CAREGiver “ I enjoy working at Home Instead Senior Care because of the people they always have a smile, they are not just clients, they are like my family” Candy Diercks Home instead Senior Care
”Family businesses are the most important businesses in the Cedar Valley because the have learned through trial and error those things that consumers demand - service, price and quality. They have built their businesses on good reputations and commun ity involvement. Consumers have come to trust family members and know that the business will consistently give them the service they desrve and want. In the 26 years I have been in business, I have learned that integrity and fairness is most important to many people. Fmaily businesses have developed relationships jthat stand the test of time. Providing good service to one generation will trickle down to the next generation. Family businesses are proud to be a part of families and the whole community.” Ron Potter Potter’s Hearing
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I believe the family business is recovering and getting stronger once again in the Cedar Valley. There is evidence across the Cedar Valley that local family businesses are making it through the past several years of financial hardship and hopefully with all of our local support they will continue to do so. Businesses such as restaurants, bars, car dealerships, insurance agencies, retail stores, jewelry stores, bail bondsmen, equipment rental, hardware stores, salvage yards, construction and trucking companies are all examples of our diverse locally owned and family ran businesses; there are many more, let’s stop at one this weekend! Scott Parsons All State insurance
PAGE 38
THE COURIER
CEDAR VALLEY BUSINESS MONTHLY
cvbusinessmonthly.com
JUNE 2011
Facebook can have an proper place in the workplace By LIZ REYER Minneapolis Star Tribune
Q. I’m trying to figure out the right balance for rules about using Facebook, etc., at work. I tend to see quite a lot of it going on, but on the other hand, people seem to be productive. What are your suggestions? A. Before you have a problem, think through your stance on acceptable use as well as problems that could arise and how you’d want to resolve them.
Is it really a problem? In one sense, it really doesn’t seem as if you have an issue in terms of anything except perception. So, start by looking at your feelings about Facebooktypes of activities at work. Pay attention to your inner reactions when you walk by someone’s desk and see the Internet open. You may tense up, feel worried, or get angry. Compare these responses to your reactions to other nonwork activities. Are you concerned if people have personal phone calls? Schedule appointments with contractors, delivery people or doctors? As you think about this, how much reflects your feelings about Facebook or other social media, and how much is real concern about productivity?
Analyze your work environment, as well, particularly in terms of the day-to-day pressure and the opportunity to take breaks. This can be challenging for people who are generally deskbound and working on a computer all day, so observe whether your team members are getting away from their desks or if they may be taking “online breaks.” About the issue of productivity: How do you assess whether you have an issue with a particular individual? If someone isn’t pulling their weight, it shouldn’t really matter whether it’s because they’re burning up hours chatting with a co-worker or wasting time online.
How to react Given your thoughts from the inner game, decide how you want to address the situation before you have a problem. Your options range from complete restriction from using these sites to a completely laissezfaire approach. You’ll likely be most successful if you seek some middle ground.
This might look something like this: Team members are allowed to use online sites with some sensible limitations. Obviously, for example, X-rated sites would not be allowed; check with your HR department about other restrictions or limitations. You would also want to let people know that, if you feel that they are online so much that it’s interfering with productivity, you’re going to address it on a case-by-case basis. In addition, you may want to ask for cooperation for a “no-online” zone if, say, clients will be in the office. As far as ensuring that people are getting the respite from work that they need during the day, encourage some movement away from their desks. However, acknowledge to them that online time may be providing the mental break that they need.
centrate on correcting exceptions when they occur rather than limiting everyone’s online activity. Liz Reyer is a credentialed coach
with more than 20 years of business experience. Her company, Reyer Coaching & Consulting, offers services for organizations of all sizes.
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A common issue With the growth in popularity of social media, this is a common issue in the workplace. Develop standards that focus on ensuring that your team’s work gets done, and gets done well, and con-
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JUNE 2011
cvbusinessmonthly.com
CEDAR VALLEY BUSINESS MONTHLY
THE COURIER
PAGE 39
Women drawn to challenges of entrepreneurship By CINDY KRISCHER GOODMAN McClatchy Newspapers
MIAMI — Enthusiastic and bleary-eyed, Margo Wolfe declares, “I haven’t slept much in two weeks, and I’m not even tired anymore.� Shaking off exhaustion, she readies her TCBY frozen yogurt store for the University of Miami students who have been streaming in from the nearby campus since the store opened earlier this month. At the same time, she takes a contractor call about a second location she plans to open next month. Only 24, Wolfe said, “I love the idea of being an entrepreneur.� The rewards for men that go into business are obvious: bigger challenges, higher income potential and the thrill of ownership. The reasons women go into business aren’t as clear-cut. The assumption is that many women open a business so they can manage their own schedule, especially when they have children at home. But ask women like Wolfe, and they have a completely different reason for choosing the riskier path of starting a business over joining the corporate world: They hate the idea of having a boss. Kim Stone sees a new energy around the idea of entrepreneurship and understands it. She had only one boss. It was her last. For 19 years, she has operated her own Miami shoe store, Shoes to You. “I like the independence,� she said. “I love selling shoes to women, and they know I love what I do.� Of course, independence and stamina require grit. Stone persevered during the recession by slimming inventory and focusing on customer service. She has had to learn how to become a boss, how to make the store hours work with her personal life, and how to keep customers coming back. “You can’t look at someone else and copy what they are doing,� she says. “You have to
ďŹ nd out who you are and what you need to run a business.â€? For more women, the learning process increasingly holds allure. Even in a tough environment, women have been willing to forego a stable income to start a business and grow it. As of 2011, there are more than 8.1 million women-owned businesses in the United States, generating nearly $1.3 trillion in revenue. During the last ďŹ ve years, the number of womenowned ďŹ rms increased by 50 percent — a rate of 1 ½ times the national average, according to American Express OPEN State of Women-Owned Business, using data from the U.S. Census Bureau. “I think entrepreneurship is the next professional frontier for women,â€? said Julie Weeks, American Express OPEN Research Advisor on Women’s Business Issues and author of the report. Weeks says all the components are in place: Women are getting more advanced degrees, have more role models than in prior decades and are educated to look at entrepreneurship
as a career. They are starting businesses because they see a need in the marketplace or have a dream, rather than out of necessity, and they are often doing it as a full-time endeavor, rather than on the side while raising kids. Janice Gonzalez, an ad agency owner and immediate past president of the Women’s Chamber of Commerce of Miami-Dade County, said another fact is at play, too — the opportunity that technology presents. “If you are in the service industry, you can eliminate a physical office. That opens opportunities for women to see a quicker return,â€? she said. To survive as your own boss, Gonzalez added that it takes a “cowboy mentality,â€? or “a certain amount of guts and optimism and not being afraid of failing.â€? Of course, owning a business is not without its downsides — from ďŹ nancial pressure to long hours to managing employees. Weeks’ research has found there is no difference between women and men in business
closure rates. Half of all businesses close within ďŹ ve years. Cindy Krischer Goodman is CEO of BalanceGal LLC, a provider of news and advice on how
to balance work and life. She can be reached at balancegal@gmail. com. Read her columns and blog at http://worklifebalancingact. com/.
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