The Business Alliance Grapevine - It's All in the BAG!
The Capital City Club and Cardinal Club Business Alliance has been created as a way to bring members and businesses together through educational and social events that foster learning, fellowship with peers, and networking opportunities.
August Issue 2007
View the BA Summer 2007 Directory
(NEW and Improved!)
Send your company announcements to Jean Wiley to go in the next Grapevine!
Letter from the Editor
The Business Alliance is hosting a number of activities throughout the months of August and September. First and foremost, the Fall Business Connection Expo is Tuesday, August 21st from 6-8 p.m. at the Cardinal Club. The Expo is a prime venue in which to promote your business and I encourage you to register at http://www.capitalraleigh.com. We are concentrating heavily on increasing traffic and our last Expo was the highest attended to date. We are marketing the Expo as a resource for retail and Business to Consumer as well as Business to Business. 3 foot exhibitor tables are complimentary to BA Partners and include three guest passes.
Our Fall Social will be an extra special event this year since we are inviting the members of the Greater Raleigh Merchants Association to join us. Read more about the Social under Events and be sure to put the date (September 26th) on your calendar. There will be a twist or two from our usual Social format, so you won’t want to miss the evening.
The Joiner’s Table we host every 3rd Thursday of each month continues to be well attended and is yet another way to build relationships and increase your company’s visibility – please be sure to join us.
I hope everyone has been enjoying his or her summer, staying cool and prospering. I look forward to seeing you at future events.
Warm Regards,
Jean Wiley, Editor in Chief
men • tor an influential sponsor or supporter;
advisor in intent, purpose, spirit, passion.
Sometimes all it takes is a different vantage point or
a nudge from someone who has been there… in how many
young people’s lives could you make a difference?
Be an on-line Career Coach with Futures for Kids—it could be
the most influential 15 minutes of your week.
Check it out now at www.f4k.org. It’s fast and easy. BA Partners who become mentors will be recognized with a special certificate from F4K and the Business Alliance.
‘Futures for Kids’ is a non-profit organization that bridges the gap between the hopes and dreams of students and the workforce development needs of communities. The Business Alliance has selected this organization as uniquely suited for our community outreach program – the opportunity for Business Partners to share their career enthusiasm and advice with the rising generation workforce. Please consider becoming an on-line career mentor.
Inspirvations
(the hybrid of Inspiration and Motivation)Does Your Mouth Runneth Over?
Do you consider yourself a good listener? Who are the people, for example, to whom you turn to for advice? Is it the hard, bossy, talkaholics? Or is it to the kindest, least censorious people you know? Now, there are brilliant people who can not or do not listen much. They have no “ingoing” wires on their apparatus. They are entertaining, but exhausting too. I call it “being talked at.” They may as well have a wooden post standing before them that has the animated ability to intermittently nod its head or to utter an occasional “uh-huh.”
As some of you may be aware, I was quite sick about a year ago. I was lying around for a good 6 weeks or so and spent a great deal of time pondering about life, my life in particular, and one of the decisions I made was to talk less and listen more. It was an easy decision and it made sense to me. I wanted to extend myself more deeply into my environment and to those around me. The results of this self-promise have been both rewarding and interesting. I find my bonds have grown deeper, that people are more comfortable in my presence, and experience a comfortable feeling of trust. I, in turn, have learned more about the people currently in my life as well as the individuals I come into contact with. It’s been very rewarding on a number of different levels.
When someone truly listens to you, don’t you feel special? Being listened to fosters understanding, affirmation, validation and appreciation and it also creates an atmosphere of trust, honor and respect. Do you think your ability to listen affects your business? Mmmm….I can assure you, it does. People still run businesses, not computers. People still make buying decisions, not computers. People still base at least part of their buying decision (whether consciously or unconsciously) on whether they like you and if they feel they can trust you.
Here are some listening suggestions:
- Develop the desire to listen. You should accept the fact that listening to others is your strongest business skill. People will tell you everything you need to know….if you listen to them.
- Let the other person do most of the talking. Observe the 80/20 or for you first-timers 70/30 rule. Listen a majority of the time and talk less.
- Don’t interrupt. I was taught by my father at an early age that people love to talk and to hear themselves talk – “be prepared to be interrupted a lot, Jean,” he would amusingly advise. People always feel tempted to interrupt to share something that is of vital importance. It usually isn’t, so don’t.
- Learn active listening. Ask for clarification if needed. This can clear up any misunderstandings you might have.
- Ask a question and then be quiet. Pretend you are Barbara Walters, Charlie Rose or Larry King.
The true listener is more liked and magnetic than the “talker,” and he or she is more effective, learns more and does more good. So try listening. Listen to your clients, your competitors, family and friends, and detractors. It will work a small miracle and perhaps even a great one.
Happenings
Capital City Club
410 S. Wilmington St., 21st Floor
11:30 am – 1:00 pm
Reservations Required
Call Vickie 832-5526
You Worked For It – Here’s How To Keep It!
Creating and Retaining Personal Wealth Through Your Business
Presented by Graham Crispin of Graham Allen Associates LLC, Steve Peters of Vision Quest Wealth Management and Ralph DiLeone of DiLeone and Associates, LLP
Many business entrepreneurs recognize that the value of their company will represent a significant part of their accumulated wealth. Such business owners have two bridges to cross to get the real value out of their business and to create wealth for themselves. The first bridge is the one that connects the owners with their skills and resources to the business. The second bridge is the link between making a market for the business and finding the right transactions that make the owner wealthier. Upside opportunities can be prioritized and maximized and downside risks can be avoided or minimized by proper planning, management and foresight in the building of these bridges. Presentation and active Q & A on:
Wednesday, September 26th
6:00 AM – 7:30 PM
The Cardinal Club, 28th Floor Wachovia Building, 150 Fayetteville Street
Reservations required. $10++ Call 834-8829
Bringing the Future of Raleigh Together
A Joint Networking Event sponsored by the Business Alliance and the Greater Raleigh Merchants Association
The Business Alliance of the Capital City Club and Cardinal Club invites you for a social evening of relaxed networking with members of the Greater Raleigh Merchants Association. Enjoy wine, beer and hors d’oeurves in a surprise while you get acquainted.
Events Recap
July Business Alliance Gathering
Sharon Hill, CEO of Sharon Hill International, was a rousing success with Business Alliance Partners and guests at the July Business Alliance Luncheon as she shared tips on business dining etiquette and the way to properly present and receive business cards. In her energetic, information packed presentation, Sharon explained ways to silently communicate with wait staff by demonstrating various napkin placements, fork and knife positions, the proper way gain the attention of wait staff, appropriate procedures for passing condiments and food, and even when and where ladies can renew their lipstick after dining. Unsure which glass is yours? Think BMW – bread – meal – wet. She segued into properly presenting and receiving business cards, leaving the group with the thought that presenting a business card is presenting your self, so cards should be extended and received with honor.
Michael Schaul – mike@kgfunding.com
Assistant Editor, Financial
Retirement Plans for Small Businesses
Greg Brissette, CSA®, Vice President/Investments, Janney Montgomery Scott LLC, Guest Columnist – gBrissette@jmsonline.comIf you're self-employed or own a small business and you haven't established a retirement savings plan, what are you waiting for? A retirement plan can help you and your employees save for the future. And you'll be in good company--over 1 million small businesses with 100 or fewer employees currently offer workplace retirement savings plans.
Tax advantages
A retirement plan can have significant tax advantages:
• Your contributions are deductible when made
• Your contributions aren't taxed to an employee until distributed from the plan
• Money in the retirement program grows tax deferred (or, in the case of Roth accounts, potentially tax free)
• You may be able to claim a tax credit equal to 50% of the cost to set up and administer a retirement plan, up to a maximum of $500 per year for each of the first three years of the plan
• Certain low- and moderate-income employees may be entitled to a tax credit ("saver's tax credit") for a portion of their contributions to the plan
Types of plans
Retirement plans are usually either IRA-based (like SEPs and SIMPLE IRAs) or "qualified" (like 401(k)s, profit-sharing plans, and defined benefit plans). Qualified plans are generally more complicated and expensive to maintain than IRA-based plans because they have to comply with specific Internal Revenue Code and ERISA (the Employee Retirement Income Security Act of 1974) requirements in order to qualify for their tax benefits. Also, qualified plan assets must be held either in trust or by an insurance company. With IRA-based plans, your employees own (i.e. "vest" in) your contributions immediately. With qualified plans, you can generally require that your employees work a certain numbers of years before they vest.
Which plan is right for your business?
With a dizzying array of retirement plans to choose from, each with unique advantages and disadvantages, you'll need to clearly define your goals before attempting to choose a plan.
For example, do you want:
• To maximize the amount you can save for your own retirement?
• A plan funded by employer contributions? By employee contributions? Both?
• A plan that allows you and your employees to make pre-tax and/or Roth contributions?
• The flexibility to skip employer contributions in some years?
• A plan with the lowest cost? Easiest administration?
The answers to these questions can help guide you and your retirement professional to the plan (or combination of plans) most appropriate for you.
Simplified employee pension (SEP) plan
A SEP allows you to set up an IRA (a "SEP-IRA") for yourself and each of your eligible employees. You contribute a uniform percentage of pay for each employee, although you don't have to make contributions every year, offering you some flexibility when business conditions vary. Most employers, including those who are self-employed, can establish a SEP. SEPs have low start-up and operating costs.
SIMPLE IRA plan
The SIMPLE IRA plan is available if you have 100 or fewer employees. Employees can elect to make pretax contributions to a defined maximum, and you must meet matching contributions requirements. SIMPLE IRA plans are easy to set up using a short form to establish a plan and ensure that SIMPLE IRAs are set up for each employee who meets the requirements. Administrative costs are low.
Profit-sharing plan
Typically, only you, not your employees, contribute to a qualified profit-sharing plan. Your contributions are discretionary--there's usually no set amount you need to contribute each year, and you have the flexibility to contribute nothing at all in a given year (your contributions must be "substantial and recurring" for your plan to remain qualified). The plan must contain a formula for determining how your contributions are allocated among plan participants who have separate accounts for your contributions and any investment gains or losses.
401(k) plan
The 401(k) plan (technically, a qualified profit-sharing plan with a cash or deferred feature) has become a hugely popular retirement savings vehicle for small businesses. According to the Department of Labor, an estimated 48 million American workers are enrolled in 401(k) plans with total assets of about 2.4 trillion dollars. Contribution limits are higher than for IRAs. These deferrals go into a separate account for each employee and aren't taxed until distributed. You can make employer contributions to your 401(k) plan--either matching contributions or discretionary profit-sharing contributions.
401(k) plans are required to perform somewhat complicated testing each year to make sure benefits aren't disproportionately weighted toward higher paid employees. One way to avoid this annual testing is by adopting a SIMPLE 401(k) plan. These plans are almost identical to SIMPLE IRA plans. However, because SIMPLE 401(k) plans are still qualified plans, they're more complicated to maintain than SIMPLE IRAs. Because they allow significantly smaller contributions than traditional 401(k) plans, SIMPLE 401(k)s haven't been widely accepted. Unlike SIMPLE IRA plans, however, SIMPLE 401(k)s can allow loans and Roth contributions.
Defined benefit plan
A defined benefit plan is a qualified retirement plan that guarantees your employees a specified level of benefits at retirement. As the name suggests, it's the retirement benefit that's defined, not the level of contributions to the plan. The services of an actuary are generally needed to determine the annual contributions that you must make to the plan to fund the promised benefit. Your contributions may vary from year to year, depending on the performance of plan investments and other factors.
In general, defined benefit plans are too costly and too complex for most small businesses. However, because they can provide the largest benefit of any retirement plan, and therefore allow the largest deductible employer contribution, defined benefit plans can be attractive to businesses that have a small group of highly compensated owners who are seeking to contribute as much money as possible on a tax-deferred basis.
Choosing your plan
As an employer, you have an important role to play in helping America's workers save. Now is the time to look into retirement plan programs for you and your employees.
Editor’s note: Details of specific plan requirements and limitations were edited due to space limitations. Your financial advisor can provide the omitted details. Since there are so many options, confer with your advisor to decide which best meets your company’s needs. The full text may be obtained from the author at gBrissette@jmsonline.com or the editor at mike@kgfunding.com.
GREG BRISSETTE, CSA®
Vice President /Investments
Janney Montgomery Scott LLC
Greg Brissette joined Janney Montgomery Scott LLC in 2003 and serves as Vice President/Investments in the Raleigh office. With over 10 years of industry experience, Mr. Brissette has developed a client service philosophy that focuses on timely, friendly service and open and honest communication. He believes that the key to financial success lies in the development of a financial plan, along with fundamental and technical analysis of securities. Mr. Brissette has the experience to meet the financial challenges of both retirees and pre-retirees. He has a long history of success working with small business owners and other professionals.
Susan Rumble, Assistant Editor, Sales and Marketing
susan@vistagroupltd.com
A New Way of Looking at Business
Lois LeSavoy , Being an entrepreneur, I have gone to enough seminars and read enough business books to have heard what all the Business Gurus have advised: that at some point in the life of a business we have to face up to big obstacles in order to reach the next level required to grow a business. I firmly believe it is a common denominator. In fact, stop reading this right now, and think of the last time you realized that in order to take your business to the next level you would have to do something you were not comfortable doing; that my friend is an obstacle.
Well, the time has come for me to face one of these major obstacles because I am deeply involved with Relationship Marketing and there is much that I want tell all of you good folks, as well as my current and future friends. But I am not going to talk to you about selling to your customer, since you must be doing that successfully up to this point or you would not be looking for a way of expanding your business. There are many more qualified people than me out there who can teach you how to sell your product or service.
The key word I want to emphasize here is “relationship.” No matter what your business, whether product or service, what you must “allow in” is that people want to do business with people they like and trust. Now I know you have heard that before from other sources, but here’s a new perspective. I believe that people are drawn to do business with you. Here’s the shift: not that you are the greatest salesman/woman but that somehow they were drawn to you. That, my dear friends, is the beginning of a relationship.
What do I mean by “drawn to you?” The simple explanation is that as you are talking about your product or service, and as you are listening for the result you’re looking for, you get the feeling that he/she likes you. And most important of all, you personally like them as well.
Notice that I haven’t mentioned anything about the size of the order, money, or anything about what kind of work it will take. Remember, this is the beginning of the relationship. It’s what each of you does next that may be the difference. Most of the sales training that I have taken tells you to quickly bring out the contract, get the signature and discuss the terms of the deal. What I am going to suggest is spending a few minutes talking about the things that matter to both of you. That may feel strange or uncomfortable to you. Take some time to find out a little bit about their life. For example, a great question is: How did you get to this point in your business? And then be quiet and listen.
This week, try that one on for size. Keep notes, mentally or on paper about the difference it makes. And this is just the beginning of expanding your business relationships. What you do with it from this point forward will be the subject of future articles…now off I go to ride my bicycle and generate more marketing ideas.
Lois B LeSavoy came to Raleigh North Carolina as the manager of the Point & Shop ecommerce solution for the online division of the News & Observer. Spending the previous 7 years in the e-commerce arena for various newspapers up north, her background contributes to the marketing strategies’ of small and medium size businesses that do not work with large advertising budgets. She creates personal relationships with people to help them grow their businesses and dreams. Lois spent time in the corporate environment and though financially successful, she found it restrictive to her humanistic creative personality. Building relationships is the foundation of all business. The name of her company is SendOutCards.com Contact her for further information and a free sample account. Go to her website www.customerslovecards.com or call 919-848-6600.
BA Member Announcements
Whitney Hill of Carolina Web Consultants, is implementing a new Customer Service Excellence Initiative is a part of every service offered, from software development, implementation, and support, to consulting and training. This highly customized approach to every project gives clients a positive experience from the whole spectrum of Internet service offerings – from high level programming to simple hosting. The CWC Customer Service Excellence Initiative integrates professional communication and support abilities with technical skills. Contact Whitney at whitney@internetpeople.com / 919.676.7500.
Martin Brossman’s book Finding Our Fire can now be purchased online at http://www.toinquire.com/findingourfire.htm. The book speaks in the authentic voice of men helping men by simply contributing their own life experiences. It is a true showcase of the emotional courage of men--something you do not hear much about in society today! A portion of the proceeds from the book will go to support The Triangle Men’s Center in NC and The Men’s and Women’s Inquiry groups respectively. martin@coachingsupport.com / 919.847.4757
A Wine Tasting Event has been scheduled to support Team in Training – The Leukemia and Lymphoma Society Fall Season at Anytime Wines, 2425 Kildaire Farm Road, Suite 405 in Cary on August 23rd. Enjoy a great sampling of wines while supporting a worthy cause. For more information contact Charlie Fortune (Charlie Fortune Custom Clothier) at 919.741.4822 or cf@thetailoredlook.com.
Ralph DiLeone, managing partner at DiLeone & Associates, received the National Leadership Award of the National Republican Congressional Committee.
Wendy Coulter, President of Hummingbird Creative Group, has been named co-chair of the technology/website and public relations committees for the 2007 Carolinas Wireless Associate Board of Directors.
J. Fourie & Co, an insurance copy in Cary, received the 2007 Pinnacle Award for Small Business in the one-to-five employee category, presented by the Greater Raleigh Chamber of Commerce.
Mike Schaul, owner of KG Funding, announces that July has been a record month. KG Funding arranged for more transactions in more financial areas than in any month in the 12 years of its existence. More about KG Funding's programs and contact information is available at www.kgfunding.com.
Cathy Rosebaugh-Jennings of Alterna Home Solutions in Raleigh received the Certified Aging in Place Specialist designation from the National Association of Home Builders. She is the only Realtor in North Carolina with this certification.
Martin Brossman earned certification as a Certified & Registered Sales Professional Trainer with the Unity Professional Sales Association, becoming one of five CRSP-T trainers currently certified worldwide.
Sharon Hill, president of Sharon Hill International has published two new books: 24 Tips For Students to Succeed in College ($17.95, ISBN 978-1-4303-1895-8) will help make this phase of life less stressful. This useful guide is packed with suggestions to help college students stay focused and on the right track for successful futures. For those pursuing careers in corporate America, Hill has utilized her experiences to guide young professionals in her book 35 Tips for Students to Succeed in Corporate America ($17.95, ISBN 978-1-4303-2955-8). This book is designed to act as a tool for students transitioning from college to the corporate world.
Jean Wiley, Business Coach, Sales Trainer and Author has signed on with Giga-Net Training and Staffing Solutions as Director of Training and Sales. Giga-Net is the only training company in the Triangle area to provide the coveted Certified Business Professional Training Certification in the areas of Leadership, Customer Services, Sales, Project Management, Tourism and Hospitality, and more.
For more information http://giganetsolutions.com/index.php/giganet/training/ or jwiley@giganetsolutions.com. I am currently seeking individuals with Project Management experience to instruct a 5-day Project Management course!
Technigrafa would like to announce their new membership in both the International Webmasters Association and the HTML Writer's Guild.
Our Newest Members…
- Adara Spa--Alyssa Vine-Hodge-Spas
- Citadel Perimeter--Clif Morgan-Computer Sales/Service & support
- RE/MAX United--Karen Johnson-Real Estate
- Tidewater Training, LLC--John Nichols-Consulting Services
- Stepping Stones Coaching, Inc.--Philip Okrend-Coaching & Support
- Fonville Morisey Realty --Marilyn Skaer-Real Estate
- L. Stephens & Associates, Inc.--Lorraine Stephens-Computer Sales/Service & support
- Keller Williams Realty --Gary Johnson-Real Estate
- HirEase--Amy Schmidt-Employment Screening Services
- Compelling Communications, LLC--Tracy Needham-Consulting Services
- 4ourFans, Inc.--Livis Freeman-Community & Public Relations
- Arbonne, Int'l--Colleen Hill-Beauty & Skin Products
- SLS Commercial Lending--Ben Briggs-Commercial Lending
- Filmgraphics Inc.--Janet Palladi-Advertising
- The Blushing Bride--Fran Kearney-Weddings
- Options for Senior America--Robert E. Bedwell-Medical Health Services
- Cruises Inc.--Diane Bean-Travel
- Business Success Strategists, LLC--Rebecca Kuprowicz-Consulting Services
- Analytrix--Sidd Chopra-Computer Services
- Lease the Sun--Michael Schaul-Environmental
- SpeedSpeak--Sidd Chopra-Marketing
- Keller Williams Realty--Darleen McCullen-Real Estate
- Simply Stated--Cheryl Simpson-Weddings/special events
Assistant Editor Bios
Devon Kaplan is a professional insurance agent with AAA Carolinas. She is a young executive who has been in the insurance industry for three years, and recently partnered with AAA to provide the best options for her client’s particular insurance needs. Being an independent agent, she has a market for most everything from auto coverage to coverage for yachts, and prides herself on being a valuable resource for any insurance questions. Devon brings to the table her enthusiasm, ambition, and commitment to excellence. Devon can be contacted at 919.832.6411 ext. 9301#
Thomas Griggs , Ph. D., is President and CEO of New Science Consulting Group, Inc., in Raleigh. His particular interest is in designing effective programs that bring research scientist/engineers into new business ventures, and he especially likes to design and implement solutions to apparently impossible challenges. He is a graduate of Duke University and holds a doctorate in Clinical Psychology from Pacific Graduate School of Psychology in Palo Alto, where he received an Ark Foundation grant for peace research and the Outstanding Dissertation Award for his doctoral thesis. He has been on the adjunct faculty at Duke University and currently teaches at the University of Richmond.
Dr. Griggs may be reached at tgriggs@nscgroup.com or 919.844.1990.
Susan Rumble is the President of The Vista Group, Ltd. The Vista Group offers professional sales representation for small business, partnering with visionary business owners who want to leverage their limited resources into the Next Level of growth from sales revenue. The revenue growth specialists at the Vista Group bring new business in through the front door for their clients and their consulting teams work with business owners to manage the rapid growth delivered by a successful sales mechanism. Prior to her sales career, Susan was a corporate trainer where she worked with executives from the Center for Disease Control, Coca Cola, Accenture, the City of Atlanta and many others. She has an extensive history of giving back as a community volunteer. The Vista Group is the fulfillment of her lifelong dream to help others reach their full potential. www.VistaGroupLtd.com
Mike Schaul is retired from IBM where most of his career was focused on the software development process, specification and design methods for reducing error insertion. He started KG Funding in 1995 to buy and broker the sale of seller-financed mortgages and business notes. The American Cash Flow Association inducted him into its Million Dollar Club in 1999. Since then he has evolved his focus to commercial mortgages, business cash flow solutions, and litigation funding. Recently, the Gerson Lehman Group Councils named Mike a GLG Scholar for being ranked in the top 20% of their consultants. www.kgfunding.com
Daniel Trimpey is the CEO of Technigrafa, which is a print design, web design and web hosting company in Raleigh, NC. Daniel has a BS in Technology Education, with a minor in Graphic Communications from NC State University. Since graduating, Daniel taught middle school for 5 years in the Wake County School System, being awarded "Teacher of the Year" in 2003, before taking his business full-time in 2005. Other past positions include graphic designer for the Raleigh Chamber of Commerce and web developer for Cisco's IT Learning Group. Daniel may be reached at 919.374.3014.
Jean Wiley’s professional experience includes corporate, mid-size (retail) as well as the small business owner and entrepreneur. Jean started coaching eight years ago while working in Professional Technical Search where her focus was in the engineering, IT and pharmaceutical industries. She develops and delivers customized training modules for the Technical Staffing industry in both recruitment and business development. Ms. Wiley is also a motivational speaker addressing such topics as: Empowering the Mind and Your Business, Mastering the Art of Communication as well as a variety of motivational Sales topics. Clients have included: GlaxoSmithKline, IBM, Martin Marietta, Duke Children’s Hospital, Eli Lilly, Univision Television, The American Heart Association, Mang Insurance, Productivity Point International and the NC Engineering Association.
Jean is also the author of two books, “The Inner World, Exploring Your Dreams,” and a children’s book “Sweet Dreams for Sydney,” due to be published this Spring.
She has a monthly radio show in Pinehurst, NC and has appeared on television and radio stations across the state. Jean is a member of the Capital City Club, sits on the Business Alliance Steering Committee, is a member of UPSA (United Professional Sales Association) and attends NSA conferences. www.jeanwiley.com
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