Triangle Business Alliance

Vickie Nelligan our Member Liaison for Business Alliance is will soon become a grandmother. Her daughter Sarah is due in November. Congratulations Vickie! Vickie was also instrumental in planning and implementing the Business Expo last month. We have received a great deal of positive feedback regarding the Expo and it would not have been such a smooth operation without her conscientious oversight. Thank you!

We had over 200 people attend the Winter Business Expo. Many thanks to those of you who provided door prizes – what an impressive array we had! Brian Propst captained the door prize table with effective assistance from Steve Peters and Shaila Pandya. I enjoyed emceeing the event and meeting new BAPs in the process. The Capital City Club staff did an outstanding job with room set-up and service, and thanks to Karl Swink for providing a warm welcome to all of the attendees. Please share your thoughts and experiences with us – successes and challenges, so we can make the Expo even better in the future.

Please welcome Beth LaSasso of Molly Maid as the newest addition to the BA Steering Committee. Beth was formerly in the corporate world in human resources and now owns a Molly Maid franchise.

Also, please watch your email for a BA Survey (brief) and take a moment to respond. We are querying BA Partners and Associates to ascertain what you want from BA Programs! We have 192 members in our group and we want to see more of you more often! Your feedback is important.

I would also like to announce a new facilitator for the Monday afternoon Leads Group 4. I have handed off the baton to Lorana Price, CEO of Holy Cow Branding and Marketing. Lorana brings strong knowledge in marketing and will bring a wealth of experience and “know-how” to the group that meets on Mondays at Noon.

Warm Regards,

Jean Wiley, Editor in Chief

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Happenings

Wednesday, May 7th
Location: Cardinal Club
11:30 am – 1:00 pm
$15++ for Members
$25 Guests

RSVP Please 834-8829

Playing in the Sports Franchise World

Chris Economides, former restaurateur, longtime successful professional sports entrepreneur and current President and Managing Partner of the USL-1 division expansion franchise the Carolina RailHawks, brings energy and motivation into whatever he does. He will share his past and present experiences and give a glimpse into the future on what it takes to build and operate successful sports franchises in this market with special focus on the importance of strong ties to the community.

Chris has had a prolific and successful career in professional sports. Prior to founding the Carolina RailHawks, Chris Economides was instrumental in forming the Rochester Raging Rhinos, a team in the same USL-1 division as the RailHawks, that has sprung to national prominence on the soccer scene. During his tenure, the Rhinos won 3 National Championships in 1998, 2000 and 2001, and one Lamar Hunt US Open Cup in 1999.

Throughout his career, Economides has earned numerous awards and accolades including USL Executive of the Year in 2001, the prestigious Elliot Cushing Award for bringing National Sports recognition to Rochester, NY in 1999 and culminating in the election to the USL Hall of Fame as a Builder in October 2005, for the tremendous impact the Rhinos have had in the community.

On January 26, 2006, Managing Partner Chris Economides of Triangle Professional Soccer announced that he and some local partners had purchased a USL-1 division expansion franchise that became the Carolina RailHawks. The RailHawks have had a successful Inaugural Season, averaging 5,000 fans a game and reaching the first round of the USL-1 playoffs. The RailHawks also reached the semifinal of the Lamar Hunt US Open Cup.

Tuesday, June 17th
Location: Capital City Club
11:30 am – 1:00 pm
$15++ for Members
$25 Guests

RSVP Please 832-5526

Change to Strange

What can make customers excited about your company and your services or product? If you can’t think of a really good answer, but you know you want to affect your customers deeply and profoundly, Dan Cable says consider a ‘change to strange’. A Townsend Distinguished Professor of Management in the Kenan-Flagler Business School at UNC and fresh from working with executives at the London Business School in the UK, Cable says you must differentiate yourself from your competition. This international speaker and author will speak on why you should ‘change to strange’ and how to make it work for you.

Dan Cable is Townsend Distinguished Professor of Management in the Kenan-Flagler Business School at the University of North Carolina. Dan’s areas of teaching and research interest include corporate culture, executing strategy through people, performance management, compensation and total rewards, the organizational entry process, and selection systems. He spent Fall 2007 working with executives at the London Business School in the UK.

He consults on the human capital value chain, culture, performance management, compensation, recruiting, and selection with a broad range of companies ranging from high-tech startups to banks. Recent clients include the Arsenal Digital, The Bureau of Naval Personnel, The District of Columbia Water and Sewer Authority, First Citizens Bank, MediaSpan, the Navy Judge Advocate General, Novant Health, and Sony Ericsson.

Recently, Dan published a book titled Change to Strange: Create a Great Organization by Building a Strange Workforce. Dan also has published more than 30 articles on cultural fit, recruitment, pay systems, and career success in top academic journals. He received the McCormick Award for Distinguished Research Contributions from the Society for Industrial and Organizational Psychology.

Dan received his PhD and Masters degrees from Cornell University, and his BA from Pennsylvania State University.

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Michael Schaul – mike@kgfunding.com
Assistant Editor, Financial

View Bio

Design Your Exit, Build Your Wealth

Graham Crispin, Guest Columnist – g.crispin@murphybusiness.com

Do you have a plan?

Exit from many businesses is often a haphazard affair. Some owners do not treat their business as an investment, merely as a job. Others overvalue their business, under-explain its value or not see the value as others may see the value.

This article focuses on designing your exit from the business. Then, at a time of your choosing, you will have built financial wealth through your business and can transfer the business with the maximum value to a buyer who will pay you for the privilege.

Most business owners begin filled with the hope of success and with inspired dreams that would bring great success. Perhaps the hope was for financial independence, for more money, more security to work hard with the prospect of the luxury of free time later, or for personal fulfillment and for peace of mind. Maybe they dream of greater freedom or control over their own fate, of meaningful challenges and escape from the day to day and the drudgery of working for someone else.

They find themselves running a business, with loyal and talented staff, great customers and proven systems for making money. Life as a business owner is more complicated and strewn with unexpected challenges, one of which is to transfer the business, get your time and money out from under the business, and put it toward fulfilling your life’s hopes.

There are two bridges to cross to create meaningful value for you the business owner, maintain its value to attract the right buyer, and allow you to get back your time and money.

The first bridge is to decide to treat the business as an investment, plan for personal wealth management and include the business as an asset. The business objective is now to grow and increase value, and not just provide cash flow to be spent by the owner. The second bridge is to understand that the business can be transformed into a product more attractive and valuable to the right new owner.

Know your End Game

Let’s consider how you can begin treating your business as an investment. In the beginning, it was your personal objectives that drove you to the decision to run a business. Your personal goals change over time, and these new goals will drive your choice to sell, as well as the timing as to when you opt to sell the business. Remember, your business is part of your personal wealth management. When you are looking to your future, both as an individual and as a business owner, you should consider the business as a source of income as well as an asset. So how do you do this?

First of all, don’t wait until you are ready to retire or sell to know what your business is worth. The value of the business to you not only includes the income it brings, it includes your sense of achievement, a worthy use of your time, and the unrealized opportunity for continued growth and its salable value, as well. However, it also has business and personal risk, and responsibilities that take away from that value.

So, first things first! Realize that owning a business is your investment decision. Ask yourself, “Does my business have enough value to a buyer to pay me out and provide me with money for retirement or my next venture?” To get the answer, you will need to have an idea of the market value of the business and a financial plan for the next phase of your life. These professional services will cost you some money and are the only way you can have a real and certain foundation for your plans. A business broker, financial planner, CPA or an attorney may be able to help you get started.

When you exit your business, you should plan to get your 1) time back and 2) money out. This gives you a couple of options. You could sell your business and continue to work in it; own it and have others do all the work, or get away and enjoy life. In his book Job, Robert Heinlein noted, “The supreme irony of life is that hardly anyone gets out of it alive.” So plan for what you want, whether it is time, money or both, and take the necessary steps to achieve your goals.

Lastly, and this may hurt, if you could bridge the gap between a future value that investment of your time and money could bring, and what you need personally, you owe it to yourself to take action to get results from your business plan.

If you cannot bridge that gap, you must reset your expectations for what the business is worth and start planning to get your time back. Remember that time is your asset too.

Graham Crispin, MBA

Regional Director, Murphy Business and Financial-NC Corp.

Founded in 1994, Murphy Business and Financial Corp. has become one of the largest and most successful business brokerage firms in the nation, providing business owners with valuations, buyer and seller searches, exit strategy planning and transfers of business ownership.

Crispin has a diverse career background. For the last 25 years, he has provided leadership in the technology and business management fields in the defense, education, telecommunications and IT industries. His responsibilities ranged from strategic planning to implementation and operations. Crispin served in the Australian Air Force as an engineering officer. From there he served as a systems engineer and program controller for a defense research organization, . After being awarded an MBA from the University of Adelaide in 1992, he held the key operations and development position for a start up post-graduate international training and education company, was a program and project manager for large IT projects before transitioning to M&A and business intermediary.

He is a regular presenter to professional organizations, such as the CPA Law Forum, on topics related to business transition.

To learn more about why a firm should use an intermediary or to inquire about franchise opportunities with Murphy, contact Graham Crispin at (919) 481-2191 or send an email to g.crispin@murphybusiness.com / www.murphybusiness.com

The Carrot and the Stick

The news is gloomy, the economy is worrisome, our concern is rising along with the prices at the gas station, and uncertainty is in the air.

Our customers feel the same way. Should they purchase from us now or wait and see? Prospective clients that were enthusiastic a few weeks ago have backed away and are harder to reach by telephone and slower to respond to our emails. Our competition is now Inaction as our prospects sit firmly on their wallets.

Our sales people are becoming more creative in discussing their pipelines. This prospect is waiting until next week. This one is giving us a check we can’t cash until Friday. Another one gave us a credit card but asked us not to run it until the 12th. How do we motivate our sales team to work harder, smarter and close new business in this economy?

We also need to keep ourselves motivated. The bills keep coming even when sales are slowing. In fact, the bills seem to come faster as our sales come in slower!

So how do we motivate our customers, our sales team and even ourselves? Let’s remember the basics; let’s remember the old carrot and stick approach and use it to increase our sales right now. Taking action on a new program will actually increase our motivation immediately as we swing into action with our new program.

First, let’s look at our customers. Our current customers bought from us because they believed our product or service added value to their business. We either 1) increased their revenue or 2) saved them money, or both. Our prospective customers need assurance that we will do the same. Buying from us will increase their revenues faster and better than if they buy from our competition or don’t buy at all (the carrot). In fact, if they don’t buy from us they could actually lose revenue or savings (the stick).

Recently I went on a sales call with one of our clients. The prospect, Dennis, opened the meeting by saying, “we don’t know how much business we have actually lost because our website looks bad and doesn’t really explain what we do.” So, we offered the carrot of a beautifully designed website with a full explanation of the company’s services and a search engine management program that would help their prospects get to the new site. Dennis actually provided the stick with his acknowledgement of lost business. Not all clients will admit or even recognize their own weakness so we have to help them see the pitfalls of not taking action and especially of not using our solution.

How do we motivate prospects to make a decision sooner rather than later? We could offer a discount (the carrot), but it must include an expiration date (the stick). Many times it is better to offer an add-on than a discount. We wanted to get Sheila to pull the trigger for one of our advertising clients. We offered the carrot of an additional month of advertising and better placement in the publication if she would sign the order form that week. It wasn’t pressure, it was encouragement. It worked. Sheila was pleased that she had negotiated the best deal and we got a commitment faster.

Secondly, our sales teams know they must perform and produce revenue to stay with us (the stick). They also know we will reward their results. We use mini-contests as carrots and sometimes even reward activities prior to results (more carrots).

Finally, we also need to motivate ourselves. The stick we understand. Do we remember the carrot? Let’s give ourselves a break now and then. We can set a goal of calling 10 prospects calls and then take a short walk or play a game of catch with a young friend at the end of a long day. Rewarding ourselves keeps the stick away for another day.

Things will get better. The economy will improve. Remembering to reward our customer, prospects, sales teams and ourselves will help us all get through (and get more carrots!)

BA Member Announcements

Event: April 3rd, The Legacy Center, 7:30 p.m. – 9:30, FREE two-hour workshop “Goal Setting for an Extraordinary Life.” Bill Spreitzer in association with Legacy Center. Register online at www.excelleratesolutions.com / 919.678.6000.

Event: April 24th, Durham Southwest Library at 3605 Shannon Rd from 5:30-8:00 p.m., Delores McNair will facilitate a table discussion “Divorce is Not an Option.” This is a FREE event and DINNER will be served. How to prevent divorce and promote healing when you feel you have exhausted all resources. Women Only. RSVP to mcna07@marriedandcomplete.com or call 919.620.6747

Event: May 22nd at the Capital City Club from 9:00-10:30 a.m. DPM Solutions will sponsor the seminar “7 Day Travel the Light Way.” Investment is $15 in advance or $20 at the door. BREAKFAST is included. Whether you are traveling for pleasure or business, less is better when it comes to your luggage. Join DPM for a fun seminar of helpful tips on how to pack 7 days of clothing and accessories in a single bag. RSVP to Delores McNair at dpm@dpmsol.com or call 919.384.5890.

Teresa Pitt, sales associate with CENTURY 21 Vicki Berry Realty, was named the office’s top producing sales associate for 2007. “CENTURY 21 Vicki Berry Realty is pleased to recognize Teresa with this honor. She is a leader and innovator, empowering local homebuyers and sellers with valuable information, helping them to make informed real estate decisions,” said David Berry, broker/owner of CENTURY 21 Vicki Berry Realty. Pitt has 14 years of experience in the real estate industry and has been with the CENTURY 21® System for 12 years. Teresa also received the Quality of Service Producer Award for Customer Service. Contact Teresa at Teresa.pitt@century21.com

Creative Gifting, a business that specializes in unique, creative gift designs, has been named to Rave Reviews Magazine Top 100 List. The Top 100 list was created by Rave Reviews Magazine from a nationwide survey of business owners in the gourmet/gift basket industry. “For Creative Gifting to be named to Rave Reviews Magazine’s Top 100 List is very reaffirming of our work,” said Debra Simonette, owner of Creative Gifting. “To be selected due to our growth over the past seven years makes this award to be even more significant.” In 2005, Creative Gifting was recognized by Gift Basket Review as one of the Top 100 Gift Basket Businesses in America. www.creativegifting.com

Jean Wiley, Coach, Speaker and Trainer, has accepted an advisory council position with the City Insight Magazine in the role of marketing advisor. The City Insight Magazine is a high quality publication that reflects the development of city living and city growth in the Triangle and surrounding areas of North Carolina. City Insight’s foundation is built around diversity and committed leadership, to continue to identify and establish relationships with city leaders, outstanding businesses, and loyal readers. www.thecityinsight.com

Instant Imprints Franchising, San Diego CA. named Instant Imprints of North Raleigh TOP STORE for 2007. There are currently 91 Instant Imprints stores in the US, Canada, and Ireland with 7 of those stores in NC. Franchise expansion plans call for up to 35 more stores in Eastern NC. Instant Imprints specializes in embroidery, screen-printing, signs, banners, and ad specialties all in one storefront. The North Raleigh store, operated by Chuck and Ryan Sawyer, is located in Falls Centre shopping center 4500 Falls of Neuse Road. 919.876.8070 / www.instantimprints.com

Dr. Thomas Griggs, CEO of New Science Consulting Group, Inc., has been awarded a major contract to provide a leadership development program for a senior management team of ABB, Inc. in Mt. Pleasant, Pennsylvania. In addition to working with the company to develop the business acumen of their executives Dr. Griggs is also partnering with Tom Kaczynski of Criterion Services to design and administer web-based testing applications to strengthen ABB’s ability to hire, promote and retain top engineers. www.nscgroup.com

Laura Salazar Lawton will lead the public relations effort for the newly established affiliate Dress for Success Triangle NC. The international non-profit organization provides low-income women with business-appropriate clothing and professional development programs. Lawton founded her company, PreludePR, after nearly 10 years of working at networking giant Cisco. PreludePR focuses on high-tech and non-profit press and media relations. laura@preludepr.com / www.preludepr.com

Brian T. Propst, LUTCF, CLTC, Financial Planner with the Mid Atlantic Firm of John Hancock Financial Network, has earned the Life Underwriter Training Council Fellow (LUTCF) professional designation. The LUTCF is conferred only upon those individuals who meet or exceed the exacting qualification standards determined by the two organizations that jointly sponsor the designation, The American College and the National Association of Insurance and Financial Advisors (NAIFA). The designation marks an advisor’s long-term commitment to professionalism on behalf of clients, establishes competence and business experience, marks a commitment to the governing body’s Code of Ethics and fosters additional professional development. Contact Brian at bpropst@jhnetwork.com

EnviroFix Inc, has launched a new website. The site features articles about the importance of clean air to one's health, testimonials from Envirofix customers, and an employment opportunities page. EnviroFix is an air cleaning service that cleans air and removes odors without the use of harmful chemicals. Their clients include real estate agents, car dealerships, and property management companies as well as home owners. For more information, visit their website at http://www.envirofixinc.com. The site was created by Imp Designs, LLC (formally Impressive Designs). Chris Basnight chris@impdesigns.com / www.impdesigns.com

Molly Maid of SE Wake County is excited to announce that they are introducing new, safe, organic cleansers to clean your home. As more information emerges about the toxicity of many cleaning chemicals, they feel strongly that for your health, and the safety of their employees, they need to provide a safer cleaning solution. After much evaluation, Molly Maid decided to use the Shaklee Basic H2 cleaners recently profiled on Oprah’s Earth Day show. In addition, they will no longer carry any product containing chlorine bleach or similar toxic compounds. As “green” cleaning products evolve, Molly Maid will continue to research and offer the most effective and safe products for your home. For more information contact Beth LaSasso at 919.329.5100

Dr. Thomas Griggs has recently completed three years of pro bono management consulting for the Opera Company of North Carolina and one year of pro bono organizational development services for The ManKind Project International, a worldwide men’s service organization. He continues to serve in both roles. 919.844.1990

Kevin Gangewere, Vice President of Environmental Safety Professionals announced that Mr. Jeffrey Huneycutt has completed all requirements for certification as a Certified Safety Professional (CSP). This highly respected certification is awarded to individuals who meet academic standards, satisfy professional safety experience requirements, and have passed two rigorous examinations (five and five and a half hours per examination). The examinations cover engineering and management aspects of safety, applied sciences, legal and regulatory matters, professional affairs and ethics, and other safety-related topics. Environmental Safety Professionals is a safety and industrial hygiene consulting firm located in Knightdale, NC providing service to the southeastern US. www.envsafetypro.com

Jean Wiley, Trainer, Coach and Speaker, will deliver a presentation to Eye Care Associates Developmental Meeting on “Empowerment, Internal Customer Service and Leadership Styles” on April 24th. www.jeanwiley.com

Daniel Trimpey would like to announce that Technigrafa is now Page Progressive! Same great service - new name. Check out our new website here:
http://www.pageprogressive.com

Our Newest Members…

Strategic Benefits, Inc. - Alphonso "Al" Grant - Associate Member
Real Life Communications - Becky Sansbury - Training
Molly Maid of SE Wake County - Beth LaSasso - Cleaning
LEGALIS - Craig McGannon - Copying & Printing Services
DCD Transportation - David Brown - Transportation
Downtown Raleigh eyecarecenter - David Weitz & Tasha Holden - Optometrists/Optical
DPM Solutions - Delores P. Mcnair - Consulting
Dreams & Faith - Diane Phillips - Gifts
VIP Designs - Elizabeth Carrasco - Interior Decorating & Design
Molly Maid of North Raleigh - Frannie Keith - Cleaning
Diversified Solution LLC - Kimberly Smith - Advertising
PreluderPR - Laura Lawton - Community & Public Relations
Yang international Business Consutling, Inc. - Lily Yang - Consulting
Vigor Creative Inc. - Melanie Dogan - Advertising / Graphic Design
The City Insight - Nikki Crawford - Advertising
Merrill Lynch - Rachel McLaughlin - Financial Services
Shane Snider Photography - Shane Snider. - Photography Services
Guinnen MacRath, LLC. - Stuart M. Scott - Consulting
PITCHNCLICKIT.COM - Sylvia Southerland - Human Resources / Empl. Staffing
Natural Form - Pam Alterman - Home Furnishings
North Raleigh Florist - Janice Cutler - Florist
Interim Connexions Inc. - Shannon Becker - Human Resources / Empl. Staffing
SilverDeer LLC. - Rick Deckelbaum -Financial Services
Purologix Water Services, Inc. - Russ & Cris Elmore - Water Treatment
Raleigh Downtowner, LLC - Crash Greg - Advertising

Editor Bio

Jean Wiley is a Coach, Motivational Speaker, and delivers Customized Training for corporations, Fortune 500, associations, sales professionals and business owners. Specialties include: Sales and Marketing, Developing Empowering Attitudes and Habits, Customer Service, Long Term Sustainability, Time Management, Goal Setting and Getting Organized. Jean is a published author of a dream interpretation book and hosts a human potential radio show in Pinehurst, NC. 919.601.2420 / www.jeanwiley.com

Assistant Editor Bios

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.

Darleen McCullen is a REALTOR®/Broker with Keller Williams Realty North Raleigh, a full-service real estate company. She enjoys working with both buyers and sellers to make their experiences as stress-free and enjoyable as possible. Darleen holds master’s and bachelor’s degrees in Journalism from the University of North Carolina at Chapel Hill. Prior to real estate, for 13 years, she worked as a marketing specialist with SAS Institute, the world's largest, privately-held software company. Have a real estate question? Darleen may be reached at 919.454.8864.

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

Publisher Bio

Daniel Trimpey is the CEO of Page Progressive, 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.

This newsletter is powered by Page Progressive- print design, web design and web hosting in Raleigh, NC.

The Business Alliance Grapevine - It's All in the BAG!

At a Glance...

Letter from the Editor