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FROM THE EDITOR
Cybersecurity: Serious business Security always has been a major business issue. But the dawn of the Internet Age has upped the stakes. Nothing brings that point home with more clarity than the Heartbleed bug. Experts look at Heartbleed as a serious vulnerability in the OpenSSL cryptographic softlibrary, Jim Offner ware which anybody is the Courier going online can business editor. Contact reach. Some are him at calling Heartjim.offner@ bleed the most wcfcourier. serious security com. flaw in the history of the Internet. The bug is said to have possibly compromised accounts on Gmail and Facebook and other popular online destinations. It exposed sensitive credit card information and other sensitive
data. The bug reportedly has been active as long as two years — maybe longer. Government sites also have been vulnerable. In mid-April, for example, the Canadian government reported the Heartbleed bug had been used to steal hundreds of social insurance numbers. It’s not just individuals who are at risk on the Internet; companies have been victimized by cybersecurity breaches, too. Over the Christmas shopping season, for example, problems were reported at such big-scale retailers as Target Corp., Michaels Stores Inc. and Neiman Marcus. “Cyber attacks on web apps are on the rise, but this year, retailers have been a significant focus of cyber criminals,” said Trevor Hendrickson, chief marketing officer with Kailo Healthcare Technologies in Cedar Falls. “While the Target point-of-sale breach made headlines, Harbor Freight’s breach didn’t make the same splash but could have been
nearly as bad. Harbor Freight has over 400 retail stores and 200 million customers, and they still do not know the extent of the data breach.” Businesses know more than anyone else, the damage cybersecurity breaches can inflict, and they’re being proactive in dealing with threats not just against account information but also proprietary information and brand-sensitive data that help one company stand out from the competition. Losing control over that information not only can cripple a company, it can be a public-relations nightmare. There also likely are legal questions about culpability if data in the charge of a company is compromised. There’s a lot at stake. And businesses can’t take anything for granted. Just as typical Internet users have become more sophisticated and comfortable on the web, so have cyberthieves. The threats are bound to be more pervasive.
This month, the Cedar Valley Business Monthly examines the state of data security in businesses and probes for insights into how area tech companies and their leaders are dealing with these ongoing threats. The digital age is perhaps the most revolutionary business advancement in history, melding commerce and instant communications in ways likely not even dreamt of a century ago. But, with these gifts come additional responsibilities. Now, IT personnel are leading the front-office attacks against some of the most cunning criminals in the world. “We have to be creative in our methods — cybercriminals certainly are,” Kailo’s Hendrickson said. “We often want to blame the technology, but the technology is managed and controlled by people. Behavioral Information Security is a relatively new method where human behavior is modeled to define predictive behavior.”
CONTENTS
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Vol. 8 No. 6
Cedar Valley Business Monthly is a free monthly publication direct-mailed to more than 5,300 area businesses. Contact us at (319) 291-1448 or P.O. Box 540, Waterloo, IA 50704.
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Heartbleed Companies try to stay ahead of security threats
JIM OFFNER jim.offner@wcfcourier.com It is estimated 18 percent of Internet users in the U.S. have had important personal data — including bank account information — stolen, and the problem appears to be getting worse, according to a recent study. A Pew Research Center study carried out in January showed a sharp increase from mid-2013, when 11 percent reported being victimized. The survey also found 21 percent reported having email or social network accounts compromised, the same percentage as a year earlier. The findings flowed in amid growing worries over the Heartbleed vulnerability discovered in March, and months after U.S. retail giant Target Corp. acknowledged millions of customers might have had payment cards compromised. “Internet users have become more worried about the amount of personal information available about them online — 50 percent reported this concern in January 2014, up from 33 percent in 2009,” the Pew researchers wrote. Heartbleed is one of the latest concerns to surface, but leaders of area technology firms say data security is an ongoing issue — and always has been.
Play defense
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There are tools available to help companies prevent attacks, but it takes work, said Trevor Hendrickson, chief marketing officer with Kailo Healthcare Technologies in Cedar Falls. “There are several ways companies can fight breaches to their security,” he said. “The first is to install a firewall, but it is more than simply installing a firewall; you also have to maintain it.” Hendrickson says a web filtering system can block harmful websites. “Implement system-monitoring tools,” he said. “A growing majority of data breaches go undetected for months.” Companies also should establish policies for social media usage, Hendrickson said. Social media use can drain bandwidth and open vulnerabilities in a com-
pany’s network. If social media is required for business operation, a company should consider providing access through a dedicated network. “Establish clearly defined security roles and responsibilities for employees and set up an access control list to define who has access to various parts of the computer system,” he said. “Policies would include enforcement of password policies and the restriction of remote access.” In the wake of the Heartbleed reports, calls went out for Internet users to change passwords to guard against hackers. Password requirements have become steadily more complex, but there are easy ways for individuals and companies to keep up, said Wade Arnold, managing director of Banno at ProfitStars in Cedar Falls. Arnold recommends using a service like LastPass. Such sites allow use of complex passwords for each site. They store encrypted passwords and form-fill them when you go to a website. They also warn you if you use the same password for multiple sites.
Smaller websites vulnerable Generally, the most serious security breaches occur around smaller websites, Arnold said. “Not using the same passwords across multiple sites is the best advice,” Arnold said. “If something goes wrong, it went wrong there. Use more
See Heartbleed , page 26
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Recently, I was asked by a woman to define what an entrepreneur is. Working for an entrepreneurial center, I can tell you the word has several definitions and there are many types of entrepreneurs. Academics note an inventor or creator creates something new while an entrepreneur assembles and integrates the resources needed — money, people, business model and business strategy — to transform an invention or creation into a viable business. Others define an entrepreneur as one who identifies opportunities and puts useful ideas into Katherine practice. There Cota-Uyar are three things is associate director and most entrepreinstructor of neurs have in entrepreneurship common. with the John Most entreprePappajohn Entrepreneurial neurs want to be their own bosses, Centerat the University of pursue their own Northern Iowa. ideas and reap Contact her at the financial re(319) 273-5732 or wards of their efkatherine.cota@ forts. uni.edu. To be successful as an entrepreneur, one should have some key characteristics. The first is a passion for the business. Generally, that stems from the belief that the entrepreneur’s business will have a positive effect on people’s lives. Entrepreneurs believe the product or service they are providing will make a difference in the lives of customers and make the world a better place. Entrepreneurs usually have a
product/service focus as well as a customer focus. Many entrepreneurs want to meet the needs of customers and believe their product or service will do that. Execution intelligence is a key characteristic. This is the ability to turn a solid idea into a viable business. This means putting together the new venture’s team, raising money, forming partnerships, handling the finances and leading. There are certain types of firms entrepreneurs start. A salary-substitute firm is one in which the entrepreneur yields an income from the company similar to what the entrepreneur would make as an employee at a similar company. Salary-substitute firms are common in small retail and service sectors. These firms are not highly innovative, but provide basic goods and services for consumers. A lifestyle firm provides the entrepreneur with the opportunity to pursue a particular lifestyle and earn a living from the business. These firms are not highly innovative and frequently are based on a sport, hobby or pastime. Some examples include golf pros, ski instructors and tour guides. An entrepreneurial firm is one that brings new products or services to market. These firms recognize an opportunity and create a product or service to act on that opportunity. That product or service provides a benefit or solution for the customer. Above all, an entrepreneur is a moderate risk taker who recognizes an opportunity and acts on that opportunity with passion, energy and motivation to provide a benefit or solution for the customers of the business.
Academics note an inventor or creator creates something new while an entrepreneur assembles and integrates the resources needed — money, people, business model and business strategy — to transform an invention or creation into a viable business. Others define an entrepreneur as one who identifies opportunities and puts useful ideas into practice. There are three things most entrepreneurs have in common. cvbusinessmonthly.com
This is my Wartburg story.
What’s yours?
The Grout Museum has employed several Wartburg College students with varying academic backgrounds. They have helped us catalog and photograph our collections and research and design panels for upcoming exhibits, as well as any other task asked of a museum curator. They are always well prepared for whatever challenge we give them. When accepting a Wartburg College intern, I can expect a student who will work their hardest to ensure the job is done right. They understand the importance of an immersive internship and take the responsibilities we give them very seriously. — Robin Venter Curator of Exhibits Grout Museum District
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Professionals branch out with LinkedIn MIKE ANDERSON mike.anderson@wcfcourier.com CEDAR FALLS — Professionals have carved out their own oasis online over the last 10 years among the digital thickets of lolcats memes and inane Twitter updates. Since its launch on May 5, 2003, the social network Linkedin has gone from a mere 4,500 members to nearly 300 million. It has become the world’s largest social network, connecting professionals from a variety of fields in over 200 different countries and territories. Linkedin is basically the Facebook
for the professional world. It provides a customizable platform for users to display information about themselves, including resumes, work experience and references. Linkedin subscribers can form online groups, as well, allowing them to stay in touch with professionals from the same field. As it passed its 11th birthday, Linkedin was continuing to expand features and attract new users. Mandy Jenkins is a social media pro. The managing editor with Digital First Media’s Project Thunderdome and a
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former web editor at Huffington Post, she has more than 500 professional connections on her Linkedin page. “I do a lot of freelance social and digital media training for journalists, and LinkedIn has been a huge source of contract work for me,” Jenkins said. “It’s also been very helpful whenever I’m seeking work or trying to help friends find new jobs.” Linkedin can inform employers about prospective hires with a few simple clicks of a mouse. More than 3 million companies across the world have company pages on Linkedin, according to information provided by the service. But the network also has proven itself to be a formidable tool for college students entering the job market. With 39 million college students and recent graduates on the site, the population represents Linkedin’s fastest-growing demographic. “LinkedIn seems to be in much wider use now than when I first joined,” Jenkins said. “This makes it a lot more useful for those of us who use it as a backgrounding and sourcing tool. When I need to find an expert or a contact in a particular field, it’s much easier to find those people on LinkedIn now. I also use it to get background on people before I’m set to meet them in person — it’s very rare nowadays for me to find that individu“I think that any sort of al isn’t on LinkedIn.” professional should be on Aaron Steinmann graduated from the University of LinkedIn, even at the most Northern Iowa with a Masminimum level. Those who ter of Arts degree in comwant to take it seriously as munications and public rea self-marketing tool need to lations. Since 2007, he has keep their profile fresh with worked as the marketing their latest jobs, an up-to-date and communications manobjective and overview, new ager for the Silos & Smokeprojects, skills, etc. It takes a stacks National Heritage lot of profile grooming to stay Area. He too has 500-plus professional connections on relevant.” Linkedin. “I have primarily used it Mandy Jenkins, managing editor for networking within my with Digital First Media's Project current position, though I Thunderdome could definitely see it as a great resource for job hunters,” Steinmann said. “Networking is extremely important to job searching, and it brings networking together with great job search tools.” Steinmann and Jenkins agree Linkedin is one of many tools at a professional’s disposal, and it only has as much value as its user gives it. “I think that any sort of professional should be on LinkedIn, even at the most minimum level,” Jenkins said. “Those who want to take it seriously as a self-marketing tool need to keep their profile fresh with their latest jobs, an up-to-date objective and overview, new projects, skills, etc. It takes a lot of profile grooming to stay relevant.” Steinmann thinks the network is a supplement to personal interactions, not a substitute for it. “I would strongly recommend that people use it as an extension to strengthen relationships and not spam people trying to build a network,” he said. As the network continues to expand, it will become more important for its users to keep polishing their professional presence online. “A LinkedIn profile should be the best view of your professional life — and everyone should treat it as such,” Jenkins said. “Pure connection numbers don’t mean anything if those connections don’t have the potential to help me or someone I know in a professional sense down the road.”
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Join us at a sPecial recePtion & luncHeon honoring our 2014 recipients
thursday, june 19, 2014 nOOn-1:30PM Sunnyside Country Club | 1600 Olympic Drive,Waterloo, Iowa
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Paid internships benefit students, employers
Cedar Valley Business monthly
Every year, more than 1 million Americans work as interns. Surveys show approximately half of all interns are unpaid. Do you and your company know the rules on whether an internship requires paid compensation?
To pay or not?
In today’s slowly recovering economy, you may find many eager graduates and pre-graduates willing to work as interns. In exchange for a leg up in the job market, they might be willing to do any work, for any number of hours, for any kind of pay — or no pay at all. But should you let them? Interns whose work benefits your organization must be paid at least minimum wage for the time they put in. That is spelled out in the Fair Labor Standards Act,
which is enforced by the U.S. Department of Labor. In an unpaid internship, an intern must receive training that benefits the student and is similar to training he or she would find in a vocational school. However, that training cannot advance your company’s interests. If an intern is performing tasks a regular employee would normally perform, that individual must be paid. While an unpaid intern could work with another employee to learn a process, the intern may not actually perform the employee’s job. The requirements for an unpaid internship are stringent. In addition to not benefiting from an unpaid intern’s work, the company might actually have normal business operations hampered by the intern’s presence. And the intern must undercvbusinessmonthly.com
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Requirements In order to be unpaid under the Fair Labor Standards Act, an internship must meet six requirements: ■■ The training is similar to training the student would find in a vocational school. ■■ The training is for the benefit of the student/intern. ■■ The training doesn’t replace the work of regular employees. ■■ The intern is not entitled to a job at the end of the internship. ■■ The intern understands he or she is not entitled to wages for the training. ■■ The employer that provides the training not only doesn’t benefit from it, but in fact, the training may actually hamper normal business functions.
stand he or she is not entitled to wages. He or she must also not be guaranteed a job at the end of the internship. If the intern was entitled to a job, the training he or she received would be considered a benefit to the company, and the internship could not be unpaid.
Still valuable
While it’s possible for a company to have a legally unpaid intern, it’s not likely. Still, savvy businesses can use interns as extra help at a low cost, and internships give employers a chance to get to know an individual for a particular period of time.
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While the hourly cost of interns can be small, their contributions to your company don’t have to be. Instead of assigning menial tasks to interns and keeping them separate from your regular employees, give them actual work, complete with challenges and opportunities for problem-solving. Treating interns as you would other employees gives them a true taste of a career with your company. Your work with them now could be an investment in your company’s future. Katie Loehrke is a human resources expert and editor with Wisconsin-based J. J. Keller & Associates Inc.
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A dream job in retirement Many retirees choose to work in retirement. A life of extended leisure doesn’t appeal to everyone. And with the average U.S. life expectancy estimated at 80.1 years, there’s no reason you can’t pursue meaningful work in retirement, especially if your health is good and your mind is sharp. The desire for activity and income are important reasons you may decide to return to the workforce well beyond age 65. If you need to or want to work in retirement, there are many options. What kind of second career is plausible for a senior citizen? Retirees today can consider a number of opportunities, such as turning special expertise Larry K. Fox into a consulting gig, taking a is a private part-time job, starting a small wealth adviser business or volunteering for with Ameriprise nonprofit work. Financial Inc. in Waterloo. Contact him at 234-7000.
Become a consultant
When you retire after many years in a specialized field, you take a wealth of experience with you that cannot be easily replaced. Many retired professionals turn their past into thriving consulting businesses, often providing services to former employers. Others gain clients by blogging about their fields of expertise. Speaking engagements, seminars and webinars are additional ways you can share your knowledge, which can bring in income and provide you with the professional and intellectual stimulation your former work life provided.
A part-time job
If your former field offers part-time opportu-
nities, you may be one of the lucky ones to land a less-than-full-time job with better-than-average compensation. Some seniors go back to school to get another degree, training or certification that will qualify them for a challenging part-time job. Or, you may decide to take a lowstress, entry-level job simply to remain active while earning a little extra cash.
Start a business
Many sellers on sites such as eBay and Etsy have turned hobbies into thriving businesses. In your former work life, you may not have had as much time to devote to your hobby as you would have liked; now, you can pursue selling collectibles or handmade treasures and enjoy the rewards of a small business.
Volunteer
Many retirees ramp up volunteering for organizations they wish to support. While giving your services freely to your favorite nonprofit won’t pad your pocketbook, it can be extremely rewarding. Volunteering can enrich your life and benefit your community. It’s up to you to create a rewarding retirement. If you choose to continue working for a paycheck, your financial adviser can help you examine how additional income will impact your overall finances. If you do decide to return to the workforce, remember this: The point of a work commitment in retirement is not to replicate your former 40-plus hour work week. Ideally, your retirement career is about staying active in ways that keep you young. Whether or not you pursue a new line of work in retirement, be sure to leave room for activities that will make your golden years as rewarding as they can be.
$1.8B fertilizer plant being constructed WEVER (AP) — The construction of a $1.8 billion fertilizer plant is having a significant impact on southeast Iowa, but many people still debate how much the project will boost the economy over the long-term. The plant Orascom Construction is building is supposed to create 165 permanent jobs after construction is done. In return, the company received $100 million in state tax breaks. About 1,500 construction workers are building
the plant near Wever, and that number is expected to grow to nearly 2,500 later this year. The plant is expected to be completed in late 2015. The project’s supporters expect the plant to provide an economic boost to the region and state. Larry Kruse with the Lee County Economic Development Group said he hopes the plant will lead to other projects in the future. “We’re looking to bring in
opportunity throughout the county, not just in this area, but having this plant located here makes it attractive for other companies to potentially locate here,” Kruse said. But Iowa State University economist David Swenson said the state overpaid because the project isn’t likely to have a significant lasting impact on the economy. “I think this was by far the dumbest economic decision made in Iowa,” Swenson said. cvbusinessmonthly.com
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Setting goals not just for young professionals CRYSTAL FORD hat are your career goals? Where do you see yourself in a few years? These thought-provoking questions are normally aimed at people who have their whole professional career in front of them. Much attention is given to goal-setting when we are new recruits. But, what about mid-level career professionals who have been in the game for years? Why aren’t they discussing professional goals? In the day-to-day shuffle of work and life it is easy to lose sight of goals or stop setting them. According to the U.S. Department of Labor, individuals hold an average of more than 11 jobs between ages 18 and 46. With this much movement in our careers, shouldn’t we have our goals clearly defined? Take a periodic timeout to determine your next play. Consider these steps:
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Continually evaluate which functions of your job you enjoy and which you are less fond of. Refer to past performance appraisals and feedback to discover strengths and weaknesses. While it’s unlikely you can identify a position that includes only elements you enjoy, this exercise will help identify areas to target and avoid on your career path.
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LE MARS (AP) — The owners of 30 downtown buildings in Le Mars hope to breathe life back into the storefronts in the spirit of historic preservation. The city has qualified for a $500,000 federally financed Community Development Block Grant, which will be used to make improvements to the buildings’ facades to bring them in line with the historic look of the downtown district. The grant will be matched evenly by the city and the building owners for a total of $1 million. Linda Mayrose, a real estate broker associate with Property Pros and a property owner on Central Avenue, said she has been considering revamping her building’s dated storefront for about a decade. Mayrose is a member of the design committee that helped identify the sites for restoration. She’s also a member of the Le Mars Historic Preservation Commission, which played a role in defining the city’s grant application.
“I have a vested interest in restoring our downtown,” she said. Mayrose said she’ll use whatever funds she receives to remove old tin from her storefront, replace boarded-up windows and possibly restore the awning. Only specific exterior improvements, such as tuckpointing, that give the building a more historical look, are allowed. But that’s fine with Mayrose. “For me, to do it any differently than how it was has never been an option,” she said. Building owners have already met with city officials and representatives from the Franks Design Group, of Glenwood, Iowa, to discuss what kind of improvements can be made under the grant. A prerequisite for the grant was that all properties must be in a “slum and blight” district, said Pete Franks, the design firm’s president. “It’s not really slum and it’s not really blight, but these are buildings that could use some help that have declined from their original appearance,” he said. cvbusinessmonthly.com
rent profession, seek specialized training if needed research your desired field.
Network
Identify and get to know people who already hold your targeted position. By creating relationships with potential mentors, you build a bridge to your next professional step. Many professionals are happy to answer questions and provide advice. Seek out organizations devoted to your discipline to build your network.
Take action
SHUTTERSTOCK PHOTO
Emulate
Once you have determined where you want to go, act like you are in your next role. Contribute
beyond your responsibilities at your current position. Volunteer for additional assignments, specifically those that stretch your abili-
ties. Identify areas where growth is needed and seek development where you can. If your desired position is outside of your cur-
It can be difficult to know when you are ready for your next step professionally. However, by evaluating what you enjoy, emulating that next step and building a strong network, you will be ready when the time is right. Don’t let goal-setting be just a young person’s game. Make you and your goals the first page in your playbook. Crystal Ford is director of career services with Kaplan University in Cedar Falls and past president of the Cedar Valley Society of Human Resource Management. Contact her at 243-2934 or cford@kaplan.edu.
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June 2014
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Good managers delegate The doorway to Darrell’s office was abuzz with activity. “Here’s the three different options for hammers, boss,” Joe, one of his supervisors, explained. “This one’s $16, this one’s $18 and this one’s $24. I’ve personally got this $24 baby at home, and I love it. The ergonomics are terrific. You can pound all day with it and not get tired.” “Let’s go with the cheap one,” Darrell responded. Rick “OK.” Joe shrugged his Brimeyer is president of shoulders and left. No sooner had Joe left than Brimeyer LLC, an Ames-based Tammy, an experienced proindependent cess engineer appeared. “You management wanted to see me?” consulting firm. “I want to approve those enContact him gineering change notices beat (515) 450fore you sign off on them,” he 8855 or rick@ stated. brimeyerllc. “Whatever,” she mumbled com. under her breath as she left. Linda, the administrative assistant, quickly followed. “White cake or chocolate for Jim’s anniversary next week,” she asked. “Chocolate!” Darrell shot back, not looking up from the pile of purchase orders he was
Why delegate decisions? Who’s in the know?
Acceptance
Who can bring experience or information that adds to the quality of the decision? They should be considered for involvement. If a manager doesn’t have all the information to make a good decision, involve others.
How important is it that employees accept the decision for its successful execution? How likely is it that being involved in the decision will enhance acceptance? As the importance of acceptance increases, so does the need to get others involved with it.
Urgency Some decisions can’t wait. While the need for a quick decision requires less involvement of others, it shouldn’t result in a unilateral verdict unless the decision-maker has all the facts. The need for speed shouldn’t trump quality.
approving — most for less than $50. “Why can’t anyone make a decision around here?” he wondered aloud. Quite simply, Darrell had trained his team well. The ability of employees to confidently and competently make appropriate decisions is crucial for a number of reasons: ■■ Execution of decisions improves when employees have some “skin in the game.” ■■ It frees up supervisors and managers to focus on higher-level activities. ■■ It contributes to the growth and satisfaction of employees, resulting in higher job performance and lower employee turnover.
Employee development Employees grow when they are allowed to make decisions.
In short, aligning decisions to the appropriate level in the organization is paramount for growth. Yet letting go of control can be challenging for some managers who have been successful running a tight ship. An important distinction is that delegating a decision doesn’t mean the manager wipes their hands of it. It does mean they are supporting the decision-maker as the situation warrants. Managers and supervisors often mistakenly feel pressure to have all the answers, to make all decisions correctly. It’s more important that they are making the appropriate decisions.
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June 2014
Cedar Valley Business monthly
NASHVILLE, Tenn. (AP) — Like many music with 19. Each installment used to be guaranteed platfans, Taylor Swift’s relationship with the “Now That’s What I Call Music” series stretches inum, but sales have dropped below 1 million back more than a decade. She and her brother per release during an industrywide decline. Yet it proportionately would listen to the series remains a factor on the when they were children charts and is available before Swift became a on streaming and digregular contributor with ital platforms. Earning appearances on 10 ala spot on a volume’s bums in the run. track list still can mean “I had ‘Now 5, 6, 7, 8, an artist has truly pen9,’” the 24-year-old muetrated America’s pop sic star said with a smile. cultural conscious“I think now we’re at ness. ‘Now 1,002,042.’” “It is confirmation Close. of making a song that The series has reached has become part of No. 50, a serious milethe social fabric and stone for a physical sales will likely remain that survivor that’s managed way for a while,” said to navigate changes in a AP PHOTO Aloe Blacc. His song digital world to remain relevant, profitable and The cover art for “Now That’s What I Call “The Man” is on No. consistent since its U.S. Music!” 50th standard edition. 50. “When popular songs are compiled in debut 16 years ago. Despite the availability of popular singles and the the ‘Now’ series, you get a snapshot of a mogeneral erosion of physical album sales, in- ment in time, and to be part of that picture is stallment No. 50 was expected to debut atop an honor.” the Billboard 200 this week, marking the series’ 18th No. 1. Only The Beatles have more See Music series, page 26 cvbusinessmonthly.com
To tweet or not to tweet? The Sacramento Bee As companies flock to Twitter, Facebook and other social media sites to tout their brands, many businesses are still struggling to strike the balance between immediacy and the need to exercise enough control to prevent ill-advised posts, tweets and other social media embarrassments. A pornographic picture recently sent from US Airways’ official Twitter account is a fresh example of a social media misstep. In that instance, the company says an employee didn’t mean any harm, but mistakenly posted a picture of a naked woman playing inappropriately with a toy plane. Examples of embarrassing posts on official company social media accounts are legion: a reference to “hitting the hay” during a horse-meat scandal, a glib mention of “not being able to tell the truth” and posts making light of airplane crashes, to name just a few. Separately, the actions of individual employees using their own social media accounts sometimes have brought unwelcome attention to their employers. Perhaps the most infamous example of 2013: the public relations professional who turned to Twitter to write, “Going to Africa. Hope I don’t get AIDS. Just kidding. I’m white!” Where being quick on the trigger can be risky, there is an upside to a timely post. Gordon Fowler, president and CEO of 3fold Communications in Sacramento, Calif., said a quick response to a pop-culture phenomenon can bring much more exposure to social media messages that would otherwise go unnoticed. “People are trying too hard to be relevant,” said Fowler, who recently invited people to get over the sourness of tax day by visiting the company’s “Tax Day Bitter Bar” for a lunchtime lemonade. Guests were then invited to take pictures and share them via social media. The three most popular U.S. social media platforms — Facebook, Twitter and Instagram — were conceived and continue to serve primarily as platforms for millions of individuals to connect, but
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AP PHOTO
As companies flock to Twitter, Facebook and other social media sites to tout their brands, many businesses are struggling to strike the balance between immediacy and the need to exercise enough control to prevent social media embarrassments. more and more businesses are using them to reach customers. Some 93 percent of marketers use social media to reach a vast and growing audience, according to statistics compiled by social media expert Erik Qualman. More than 1 billion people use Facebook, while Twitter boasts of 115 million active users monthly. Communications professionals agreed that staying out of the social media pool is not an option. “Social media or new media has become a big part of my business. If you don’t have a social media presence, then you don’t really have a presence,” said Doug Elmets, a veteran communications consultant and owner of Elmets Communications. “It’s the way people communicate these days.” “Nowadays consumers are talking to each other, so it’s important to be in that conversation,” Fowler agreed. Fowler and Elmets differ somewhat, however, when it comes to how much control they think businesses should exercise over who should post on their behalf. Fowler suggested brands stay most nimble by placing so-
cial media tools in trusted hands and trusting them. At his company, nearly half of his 16 employees have access to the corporate Facebook, Twitter, Instagram, LinkedIn and Vimeo accounts. He advises his clients to have defined roles and responsibilities, distinct areas of focus for social media channels and clear guidelines. While Elmets agrees that social media relevance requires capturing the moment, he says it’s often better to sacrifice some timeliness for clarity of message. “If you don’t have some form of oversight or a catalytic converter, there is no telling what is going to spew out of the tailpipe,” Elmets said. “Sacrifice nimbleness for a tad bit of security. It’s better to be safe than sorry in your communication, especially for your business.” One of his biggest clients, Thunder Valley Casino in Placer County, Calif., has a handful of people responsible for social media on behalf of the business, which employs 2,500 people. For some of his smaller clients, Elmets said, he serves as the trusted hand on the social media accounts.
Being nimble is often the key to scoring a social media win, Fowler said. He cited the advertising response of the maker of Oreo cookies to the 2013 Super Bowl blackout. Advertising experts declared that Nabisco “won the marketing Super Bowl” with a timely ad sent out via social media during a third-quarter power outage that delayed the game. “Power out? No problem,” said the Twitter ad. Attached was a picture of an Oreo with the caption: “You can still dunk in the dark.” Within a day, the Oreo tweet had been retweeted 15,000 times and had 20,000 likes on Facebook, allowing it to reach an audience hundreds of times larger than the company’s base of followers. For tweets like that to pop, they have to hit the Twittersphere at the right time, Fowler said. “The more approvals you have built in (before you post), the less relevant you are,” he said. “I just want to make sure I have the right people that understand our strategy with their hand on the button.”
Cedar Valley Business monthly
June 2014
17
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June 2014
Cedar Valley Business monthly
ow do you make your small business website come up toward the top of search engine searches? This is the magic of search engine optimization, or SEO. As a small business owner, your goal should be to get your website to appear on the first page of Google search results. How do you do this? There are several things you can do. Update your web content on a regular basis: Give readers a reason to come back. Add a page for news or press releases: Tell customers about new products, partnerships, events or sales. Look for key words customers might use to find your website. Have you checked how many other websites are using them? Are there better choices? A service like Google Analytics can provide valuable information about the people visiting your website. Several recent articles offer advice on optimization. Expert Carolyn Shelby describes SEO as helping search engines determine which websites are most relevant for a specific search. She suggests thinking of your website like a cake: You need good content, infrastructure, info architecture and platform to make the cake. The icing is social media, paid links (search engine marketing) and links already found in your website. She suggests you take a close look at: ■■ Content: Look at the text, titles and descriptions. Are they current and striking? ■■ Performance: How quickly does your site load, and does it work with multiple
More on SEO ■■ www.crazyegg.com/. Crazy egg — this company creates heatmaps, a visual that gives you a way to collect data about your site visitors. You can get a 30 day free trial; paid plans start at $9 a month. http://tinyurl.com/ dxbzhj9. ■■ Edwards, Victoria. “SEO Basics: 8 Essentials When Optimizing Your Site.” http://tinyurl.com/lg3ugzq. ■■ Holbrook, Ben. “How to Implement the Rel=”Author” Tag – A Step by Step Guide.” http://tinyurl.com/khzq6nk. ■■ Honigman, Brian. 8 Ways Social Media Affects Your SEO. http://tinyurl. com/35b7h66. ■■ Lodico, Jim. “7 Ways to Improve your Blog SEO with Inbound links.” http://tinyurl.com/lg3ugzq. ■■ SEO Tool from Search Engine watch website: you can get a free analysis and sign up for a low cost service. http://tinyurl.com/7pnc3jd. ■■ Schachinger, Kristine. “How to Write Title Tags For Search Engine Optimization.” http://tinyurl.com/q4d7fla. ■■ Simon, Dan. “10 SEO Tips for 2013.” (Infographic from Cognito).
browsers and platforms? ■■ Authority: Do other sites link to your content or use it as a reference or cite it? ■■ User experience: Look at the overall appearance of your site. Is it easy to navigate? Don’t try to stuff more key-
words into your webpages or buy links in an effort to impress search engines. However, you should think about your strategy for social media, email, radio and TV. Be consistent with keywords. You also need to be sure your website will work on mobile deviccvbusinessmonthly.com
SAVE THE DATE
2014 ECONOMIC OUTLOOK LUNCHEON Tuesday, September 16, 2014
One of America’s foremost economists will be featured at the 2014 Community Bank & Trust and Courier Event!
ANIRBAN BASU
Chairman and CEO –Sage Policy Group SHUTTERSTOCK IMAGE
es: Facebook now gets half of its traffic on mobile devices. Another article discusses how to create and use title tags, since these html tags tell search engines what your page is about. “Write title tags for humans; format them for search engines,” writes Kristine Schachinger. She goes into great detail, including screen shots and a checklist about how to select the best title tags. Finally, don’t forget about social media, including Google+. Google is the most popular search engine, and Google+ now looks more closely at social activity. You can associate the content you create with your Google+ profile by listing/ linking the websites you write for in your Google+ bio, and include a link to your Google+ profile when you write articles. You should also include an author tag on your website: Ben Holbrook explains how to do this in his article. If you don’t have a presence on social media sites, it’s never too late to start. Post on a regular basis, and link back to your website. Remember when users “like” content on your website and share it through Facebook, Twitter or GooCVBUSINESSMONTHLY.COM
gle plus, search engines see those likes as links, so be sure to include buttons for the major social media sites on your website. What type of content is most likely to be shared? According to Jim Lodico, “Blog posts that solve problems, provide a valuable resource, entertain, demonstrate innovation or even create controversy can all generate incoming links.” What can you do to learn more and assess your site? Searchenginewatch website offers a tool that will give you a free analysis. Then you can sign up for a service for as little as $40 a month to give your company ongoing feedback. Another website, crazyegg.com, offers a free 30 day trial of what it calls heatmaps: visuals to analyze site traffic. Socialmediaexaminer is another excellent resource, with podcasts, articles and links to services. Search engine optimization strategies are sure to generate interest, and social media will continue to drive much of the traffic to your website. Cherie Dargan is associate professor of communications at Hawkeye Community College in Waterloo.
This event is a highlight of the business community every year! Mark the date on your calendar. Invitations will be sent out this summer. This event is the premier Cedar Valley economic event presented as a community service by Community Bank & Trust and The Courier’s Cedar Valley Business Monthly. • Mr. Basu is one of the Mid-Atlantic Region’s most recognizable economists! • He has focused upon health economics, the economics of education and economic development. Currently Mr. Basu lectures at Johns Hopkins University in micro, macro-, international and urban economics! • Mr. Basu earned his B.S. in Foreign Service at Georgetown University in 1990, his Master’s in Public Policy from Harvard University’s John F. Kennedy School of Government, and his Master’s in Economics from the University of Maryland, College Park. His Juris Doctor was earned at the University Of Maryland School Of Law in 2003. • The event will be held at Sunnyside Country Club from 11:30 AM - 1 PM! • Attendees participate in predicting yearly economic indicators for cash and prizes!
CEDAR VALLEY BUSINESS MONTHLY
JUNE 2014
19
Making the most of Social Security PETE MEEHAN
A
re you building your retirement income on a solid foundation? If you are one of the more than 10,000 people reaching retirement, take a moment to reflect. A 2001 study by research and consulting organization LIMRA showed that for retirees with investable assets between $100,000 and $1 million, 38 percent of their income at retirement will come from pensions, 32 percent from Social Security, 16 percent from personal assets and 14 percent from employment. The study showed that even with so much of their retirement income coming from Social Security, 69 percent of people filed for claims between age 62 and full retirement age at a reduced benefit amount. People aren’t maximizing Social Security benefits for several reasons. Many may simply need the money or are physically exhausted from a lifetime of work. Others may be forced into retirement due to layoffs or health issues. Still others may be doubtful about the solvency of the Social Security program. According to the SSA, reserves are projected to pay full benefits until 2033, and tax revenue income is projected to cover 73 percent of benefits from 2033-2086, even if no changes are made to the system. The bottom line is a 55-year-old today won’t likely have to worry about benefits being affected until age 75 at the earliest. Pete Meehan is president of Financial Decisions Group in Waterloo. Contact him at 233-8476.
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Social Security FAQs How are benefits calculated? To be fully eligible, you must have obtained 40 credits. This usually amounts to 10 years in the workforce. From there, the Social Security Administration calculates your average indexed monthly earnings over your highest 35 years of earnings. This indexed amount is then used to determine the amount of monthly income you will receive at full retirement age, with a maximum benefit amount of $2,642 per month. Can I file for benefits and take my payments later? Yes. This is a benefit claiming strategy known as file-and-suspend. Since delaying the payment will increase your benefit amount by 8 percent per year, this strategy is often used to increase the lifetime benefits for married couples while still getting benefits flowing into the household. With people living longer, choosing this option could mean a substantial increase in total benefits. Can I work and still receive benefits? Yes. However, there are limits to how much you can earn before your benefits will be reduced. If you begin receiving benefits before full retirement age, the income limitation for 2014 is $15,480 per year. If you earn more, a dollar in benefits will be withheld for every $2 you earn above this amount. If you begin receiving benefits in the year you reach full retirement age, you may earn up to $41,400 per year. Every $3 earned above this amount will reduce your benefits by a dollar. Only those who wait until they reach full retirement age or later can have unlimited earnings without affecting their benefit amount.
THANKS
to our sponsors for making The Accel Triathlon possible.
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Cedar Valley Business monthly
June 2014
21
Please contact Sheila Kerns to post your business card. (319) 291-1448 or sheila.kerns@wcfcourier.com
Matthew Dorsett Branch Manager
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Bruce Clark Business Development Officer 319-824-5431 800-545-0172 (toll free) 319-824-6795 (fax) 319-240-2511 (cell) 510 F Avenue Grundy Center, IA 50638 www.gnbbank.com
Please contact Sheila Kerns to post your business card. (319) 291-1448 or sheila.kerns@wcfcourier.com
Architects & General Contractors
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Alliance & Chamber
Newsletter www.cedarvalleyalliance.com
Welcome NEW Members
Art House Café
Contact: Eliz Guyer 225 Commercial St. Waterloo, IA 50701 Phone: (319)610-7105 www.laughingtreetea.com Category: Restaurants, Cafes, & Taverns
- Irv Warren Memorial Fletcher, Wat Jun 17, 12:30P
Culp Consulting Agency
Good Morning Cedar Valley Thursday, June 19 7:30 – 9:00 a.m. 1325 E San Marnan Dr. Waterloo, IA, 50701 Good Morning Cedar Valley is a quarterly networking breakfast, educating Alliance & Chamber investors on current events. The brief program includes the Cedar Valley Mayors and a Black Hawk County Board of Supervisors representative. Updates are also given by other community business leaders. Each breakfast attracts more than 125 investor members from across the Cedar Valley.
Premiere Sponsor:
Contact: Bonnetta Culp 1631 Columbia St. Phone: (319)235-1018 Fax: (319)287-8130 Category: Insurance Provider
Rooff Development Contact: John Rooff 1509 Commercial St. Waterloo, IA 50704 Phone: (319)232-4663 Fax: (319)234-8009 Category: Construction
Cart Sponsor:
Lunch Sponsors Community Bank & Trust
...working to increase
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Cedar Valley Gold Sponsors: KWWL MidWestOne Bank Ravenood Nursing & Rehab Center
Contact Kim or Bette Call (319)232-1156 or ema kschleisman@
economic region.
19th Hole Sponsors Sam’s Club Beverage Cart Sponsor Warren Transport, Inc.
Flag Event Sponsor Aspro, Inc. Hydrite Chemical Co Jacobson Financial Services Brad Jacobson State Farm Insur New Directions Counseling Servi
Be part of something greater! Join the Greater Cedar Valley Alliance & Chamber! Learn how you can benefit! Contact Bette Wubbena at (319) 232-1156 or bwubbena@cedarvalleyalliance.com.
Additions to Alliance & Chamber Professional Staff Advance Services & Opportunities Available to Cedar Valley Businesses
morial Golf Course, 1000 r, Waterloo, IA 2:30PM - 7:00PM
Providing Business Services to Grow Cedar Valley Businesses
$500 Per Foursome.
ette to sign up your foursome today! email bwubbena@cedarvalleyalliance.com man@cedarvalleyalliance.com
nsurance Services
As of May 2014, three professional have assumed new roles to help advance the mission of the Greater Cedar Valley Alliance & Chamber in increasing economic vitality and wealth: Nate Clayberg is the Director of Business Retention & Expansion; Daniel “Danny” Laudick is the Talent Solutions Coordinator; and Sue Beach is the Director of Investor Relations.
Hole Sponsor BankIowa Ferguson Enterprises Huff Contracting, Inc. Hy-Vee Iowa laser Technology Inc. KWWL Marco Perkins Restaurant Inc. PDCM Insurance Ravenwood Nursing & Rehab Center Schmitt Telecom Tyson Fresh Meats U.S. Bank Veridian Credit Union VGM Forbin Wells Fargo Bank, N.A. Wheaton Franciscan Healthcare Putting Contest Sponsor Lincoln Savings Bank
As Director of Business of Retention & Expansion, Nate Clayberg plans, develops, and implements regional economic development initiatives to encourage and facilitate growth in targeted industry sectors. An important initiative led by Clayberg is Advance Cedar Valley, local implementation of Advance Iowa, a statewide Economic Gardening program operated by UNI. Nate Nate has great familiarity with the business community of the Cedar Valley and strong economic development knowledge and experience. Nate will be highly effective in this role, delivering results immediately.
Filling the Talent Pipeline with Focused Talent Recruitment and Retention Services As Talent Solutions Coordinator Danny Laudick plans, develops and implements talent recruitment and retention initiatives benefiting Cedar Valley businesses. This includes working in collaboration with Cedar Valley employers and educational institutions. His insight to talent & skills gaps will help strengthen Danny the Alliance & Chamber approach to building and retaining a talent pool among the industry sectors we serve in the region. Danny’s analysis skills will help the Alliance & Chamber better execute workforce and benefits surveys to gauge the needs of our existing businesses and report important workforce related information to our employers and educational institutions. With his skill set, workplace experiences, and enthusiasm for economic development, our investors can expect to see the talent recruitment and retention services of the Alliance & Chamber increase in focus and effectiveness.
Extending the Invitation to Be Part of Something Greater As Director of Investor Relations Sue Beach presents the services and the return on Alliance & Chamber investment to existing investors and to other businesses and institutions in the Cedar Valley economic area looking to give their operations a competitive advantage. Sue is an energetic and respected leader in the community with extensive expertise in building relationships Sue and generating revenue, volunteer support and action. She will work collaboratively with Bette Wubbena, Director of Investor Services to ensure Alliance & Chamber investors and prospects understand and receive maximum return on their investments.
Heartbleed From page 4 complicated passwords. The idea of memorizing a long password is hard.” Services like LastPass, which allows use of 15-character randomly generated passwords, translate well to business use. Many businesses have periodic password resets, but that goes only so far, Arnold said. “Your corporate IT may set a policy in Windows that resets so often, but with all the cloud services, you log in the sales force to check sales,” he said. “You log into Dropbox or Google mail to do email. So you can’t have a Windows reset policy if you’re in the cloud doing business.” A LastPass-type service allows users to force that in a cloud-based business environment. Marc Reifenrath, CEO of Spinutech Inc. in Cedar Falls, said fighting threats like Heartbleed often depends on the nature of the threat. “Fighting things like this can vary based on the complexity
of the virus,” Reifenrath said. “In this situation, the first thing you should do is change all of your passwords. The major sites you should update are Facebook, Instagram, Pinterest, Google/Gmail, Yahoo, Netflix, Dropbox and YouTube, to name a few.” Unfortunately, such threats are becoming more and more common. “We were just putting the whole Target fiasco in the rearview mirror, and then this happened,” Reifenrath said.
Never-ending battle
The Heartbleed episode was another reminder that data security threats are constant, Reifenrath said. It’s a new way of “robbing banks,” and companies and individuals need to be on their guard. One of the easiest ways to reduce security risks is to add two-factor authentication to services that offer it, Reifenrath said. Jason Nissen, partner with Far Reach in Cedar Falls, agreed. “Two-step authentication, or
two-factor authentication, is one of the more common ways companies are protecting their systems and their data,” Nissen said. “Systems that have implemented two-step authentication require an additional step or factor to gain access to the system.” This type of authentication typically consists of several items, including “something you know,” such as a password, and “something you have,” such as a mobile phone or hardware token, Nissen said. “There are also systems that are adopting the use of biometric devices such as fingerprint scanners,” he said. Maintaining data security requires discipline, and not everyone has learned that lesson. “But that’s exactly what the ‘bad guys’ hope for — that you won’t take the minimal, but necessary, steps to protect yourself,” he said. “It is a constant battle between IT security professionals and those who are attempting to maliciously gain access to an organization’s systems and data.”
Music series From page 16 The series — based on a popular British run of the same name that has reached No. 87 — is likely the most successful in modern music history, selling more than 76 million copies in its numbered U.S. series alone, according to Nielsen SoundScan. It remains popular for reasons that include convenience, brand appeal, format preference and familiarity. “You have the 50 albums, plus dozens of these ‘Now’-branded compilations — ‘Now That’s What I Call Disney,’ ‘Now That’s What I Call Dance Music’ — it goes on and on and on, and all those things sell, too,” said Keith Caulfield, Billboard’s associate director of charts/retail. “Not in the way the numbered compilations do, but it’s just all gravy. It’s such a well-known brand, when a ‘Now’ album comes out, you already know what it is.” Nielsen figures show Vol. 5 was the series’ most popular, selling nearly 4.8 million copies. The series remained above the platinum level into 2008, and sales for recent volumes hover around 500,000 — a very solid number in 2014. Vol. 50 was expected to be the 49th straight top 10 debut for the series — and all 50 reached the top 10. Over time, though, the reasons behind that success have changed. “Now” filled a gap when it debuted in 1998 that no longer exists.
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June 2014
Cedar Valley Business monthly
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