Small Business Today Magazine - April 2013 Edition by Small Business Today Magazine

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SMALL BUSINESS TODAY MAGAZINE APRIL 2013 | PG 1

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CHAMPIONS SCHOOL OF

PROFESSIONAL DEVELOPMENT A Division of Champions School of Real Estate®

In today’s competitive business arena, the finishing touches win the day. Do you have the skills to stand out from the crowd? Are you confident in your public speaking and networking abilities? Set yourself apart from the competition by trusting in Champions School of Professional Development.

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Individuals and companies need to stand out from the crowd to be successful. By developing your professional demeanor, you tell your partners and associates that you take their time and business seriously. A polished, professional decorum is the edge you need and deserve.

• Beginning with the Basics • S low and Steady Stress Relievers • Posturing • Thinking on Your Feet • Speech Pacing • Invest in Self-Assurance

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SMALL BUSINESS TODAY MAGAZINE APRIL 2013 www.SBTMagazine.net Celebrating 30 Years of Outstanding Education! | www.ChampionsSchool.com R 30th ANNIVERSA

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SMALL BUSINESS TODAY MAGAZINE APRIL 2013 | PG 2

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SBT Houston Staff April 2013

FROM THE

Publisher

STEVE LEVINE

One Year Later…Welcome to our “Anniversary Issue!” It’s hard to believe that we are starting our second year with this issue! It was just one year ago that we launched the April 2012 issue (on March 20th, 2012) with Farouk Shami of CHI Systems as our Premier Issue cover honoree. We launched that issue in grand style with a champagne launch at The Marque in City Centre. Over 200 people were in attendance to preview this new publication that’s total focus was start-up entrepreneurs and small business owners. When my partner, John Cruise in Legacy Publishing Group, LLC, first approached me with the idea of creating a publication and online edition that focused on the needs of the small business owner and entrepreneur, I knew it was a winner! I had just seen a TV magazine-type show that broadcast a piece on former top executives of companies who had been downsized by their companies and were now out of their severance pay. Some had surpassed their unemployment benefits, were too old to be considered for hiring, and were now doing menial jobs to support their families. I certainly could relate, as many of my friends and classmates were in the same boat. John and I agreed that we needed both a high-quality hard copy and a digital edition of the magazine. It needed a powerful Publisher’s Advisory Board, a cover story about a successful Houston-based entrepreneur, and strong editorial content from experts in startups and small businesses. The articles needed to be not only short and to the point, but written with the mission to educate, motivate, inspire, and empower our readership. Our first validation that we were on the right track came from our first cover honoree, Farouk Shami, at our launch event. Towards the end of the evening, Farouk approached me, grabbed my hand in both of his, and said the following, “Steve, I didn’t understand what your magazine was all about when I agreed to be on the cover. Now I do! People really do need your magazine and you did a great job with the first issue! Now, I am a big fan of yours!” Wow! If I ever wanted validation…that was it! We now regularly receive testimonials from readers, both far and wide and young and old, who had started a business and are continuing to grow their business using the content of our magazine and the strategic partnerships that include: the Womens Business Enterprise Alliance, the Houston Minority Suppliers Development Council, the Small Business Development Council, the National Association of Women Business Owners, the Main Street Chamber, and the Hispanic Chamber of Commerce. Last but not least, we are so very proud that our terrific, “must attend” events have been the “talk of the town” and that we are connected with the powerful blog talk radio show, “Hughes & Cruise”. We certainly have had an amazing first year! Wouldn’t you agree? Starting off our second year, we couldn’t be more pleased with our April cover honoree, Kim Roxie. Kim Roxie started her LAMIK Beauty. Kim launched her company when she was just 21 years old and saved every dollar she needed to start her business on her own. Kim is now (at 29 years old) on top of a beauty products empire and making quite a name for herself and her product with a signature store in River Oaks and her products being sold through select Macy's! We at SMALL BUSINESS TODAY are very pleased to have a young entrepreneur on the cover of the magazine! Special thanks to Tasha Daniels of International Strand Haven who did Kim’s hair, Vicki Adams of Nail Mogul who did Kim’s nails, and Remix Fashion Boutique who provided Kim’s lovely dresses . What’s next, you ask? Stay tuned right here! Good Reading, Good Sales & Success to You, Steve Levine Executive Publisher

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President John Cruise Executive Publisher Steve Levine Associate Publisher / Creative Director Barbara Davis-Levine Contributing Editors Tammy Moshay Devon Ray Battaglia Business Development/PR Sonia Guimbellot Bill Huff Tammy Moshay Donna Rooney Graphic Design Vanessa Vara Photographers Eric Kleiman Contributing Writers Errol Allen Don Brown Barbara Davis Dr. John Demartini Len Faucher Erich Fruchnicht Bruce Hurta Julie Irvin Jeffrey Jones Steven Kay Craig Klein Bertrand McHenry Julien Meyer Hank Moore Amy Olivieri Devon Ray Rita Santamaria Alvin Terry Pam Terry Jack Warkenthien Doug Winnie Aimee Woodall Aaron Young Chief Advisor Hank Moore Publisher’s Advisory Board Cyndi Barnett John Cruise Dirk Cummins April Day Dr. John Demartini Maya Durnovo Kathie Edwards Leonard Faucher David Holt Richard Huebner Julie Marie Irvin Jeffrey Jones Steven Kay Darryl King Craig Klein Wea Lee Bertrand McHenry Hank Moore Lisa M. Morton Mike Muhney Maria Rios Rita Santamaria Allen Shapiro Pam Terry Jack Warkenthien Doug Winnie Aaron Young

Phone: 832-460-2020 E-Mail: Steve.Levine@SBTMagazine.net Or Write: Small Business Today 5380 West 34th Street, Ste 230 Houston, TX 77092 See us on the web at www.SBTMagazine.net

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INSIDE

HOUSTON APRIL 2013 EDITION

The Strategic Partners who help make BPBCC great include: Top left - Marylene Evans, Administrator/CEO - T & M Healthcare Service, Inc. Top right - Tena Betts, Owner/Principal Consultant - Hilltop HR Services Bottom left - Leon Jenkins, President/CEO of BPBCC Bottom right - Bill Rosemon - Owner/Landscaper -Rose Bud Landscaping, Inc. Not PIctured - Fred Hoyer - Corporate Vice President Fleet, Leasing, and Community Relations for Bayway Lincoln & Bayway Volvo

IN THIS ISSUE

How to Become Your Own Personal Coach 8

Kim Roxie - LAMIK "Love and makeup in kindness makes the world go 'round"

Bethel's Place Black Chamber of Commerce STRENGTH THROUGH THE COMMUNITY BUSINESS SUCCESS MODEL

Cash Flow Management 9

oday Magazine Business T SmallMs. Mogul™ and The Global Mogul® Center for Leadership

Thinking. Let’s think about that! 10

rty ch PaWomen’s presents Leadership Summit 2013. e LaunRoar!® Champagn

The Five P’s Of Long Term Prosperity 11

Local Community. Global Opportunity.

Yesterdayism…Learning from the Past, Planning for the Future. 12

Thursday, May 23 | 9 a.m. to 2:30 p.m.

Houston Community College District Office 3100 Main Street Houston, TX 77002

How Targeted Email Lists Benefit Small Business 14 Sales Forecasts You Can Count On – Crucial to Your Success 16

Conference Host: Chairidee Smith Ms. Mogul™

Keynote Speaker Lioness Leadership™ Award Recipient Elizabeth A. Campbell

Speaker Catherine Flowers Topic: Global Supply Chain Diversification

Speaker Nancy J. Li Topic: Global Team Building

Poetess Cloris LaRue Author of HERstory

Soloist Mary Loy The National Anthem

Giving Back Isn’t Just for Big Businesses 17 How to Choose THE Right Speaker for Your Next Event 19

Speaker Lisa N. Alexander Topic: Building a Successful Global Brand

Seven Alternative Methods to Calm Fear of Public Speaking 26

Speaker Tonya Hofman Topic: Garner a Global Audience with Speaking

2013 ROAR!® HONOREES Beverly Denver, Founder of Houston Woman Magazine Roar’s® 2013 Legacy Lioness™ Award, Recipient

Wow Your Employees First! 28

Registration is $35 | Vendor Space Available Live streaming for T.E.E.M Members in Baltimore, MD. Visit the site for more info.

www. TheChairideeSmith.com

Atlas, Value, Scarcity and a New Economy 30 Qualifying for a Real Estate Mortgage through the SBA Loan Programs 31 How To Raise Capital To Start A New Business 40 My Life Was Over At Age 8 42

The Honorable Imelda Reyes-Castillo

Roar’s® 2013 Legacy Lioness™ Award, Recipient

Congratulations to our First Year Cover Honorees

ROAR

WOMEN'S LEADERSHIP SUMMIT 2013

HOUSTON EDITION PUBLISHER: STEVE LEVINE SMALL BUSINESS MAGAZINE IS PUBLISHED MONTHLY BY LEGACY PUBLISHING GROUP, LLC. 5380 WEST 34TH ST. STE. 230 HOUSTON, TX 77092 EXECUTIVE PUBLISHER: STEVE LEVINE PRESIDENT: JOHN CRUISE PHONE: 832-460-2020 www.SBTMagazine.net ADVERTISING RATES ON REQUEST. BULK THIRD CLASS MAIL PAID IN TUCSON, AZ. POSTMASTER: PLEASE SEND NOTICES ON FORM 3579 TO 5380 WEST 34TH ST. STE. 230 HOUSTON, TX 77092 ALTHOUGH EVERY PRECAUTION IS TAKEN TO ENSURE ACCURACY OF PUBLISHED MATERIALS, SMALL BUSINESS TODAY MAGAZINE CANNOT BE HELD RESPONSIBLE FOR OPINIONS EXPRESSED OR FACTS SUPPLIED BY ITS AUTHORS. COPYRIGHT 2012, LEGACY PUBLISHING GROUP, LLC. ALL RIGHTS RESERVED. REPRODUCTION IN WHOLE OR IN PART WITHOUT WRITTEN PERMISSION IS PROHIBITED.

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ERIC KLEIMAN PHOTOGRAPHY

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continued on page 34 SMALL BUSINESS TODAY MAGAZINE APRIL 2013 | PG 7

EDITORIAL FEATURE

How to Become Your Own Personal Coach

THE BUSINESS OF REAL ESTATE

By Rita Santamaria

he fact you are your own boss, or independent contractor already says volumes as to your personal sense of faith in yourself. Most people desire to work for themselves and be in charge of their own business success. It’s a little stressful, time consuming and uncomfortable when you are the boss, administrative assistant, mail room person, maintenance engineer, IT specialist and marketing expert. So how did you do it? You must live your dream and then it’s not about making a living. Your daily routine is about doing what you love. If you love what you do, then you will always be successful. The reverse is also true. Change your career if it is a drudgery to suit up every day and go to work.

been consistently pleased with my service.” By helping your clients achieve their needs you are assisting yourself to a successful year. Fear is a common factor when you are in business. Being serious about your work, helping others achieve their needs, reading current industry related information which keeps you updated will take the fear out of being on your own. This will increase your income and your self-confidence. The last serious consideration for being your own personal coach is to hold yourself accountable for your ongoing pipeline of contacts.

Attitude is more important than aptitude. I challenge you to check your attitude. You must have the mannerly attitude that encourages your client to spend time with you. Positive self talk is a mandatory and regular exercise for all humans. What self talks are you having? They should be similar to this talk, “This year I am going to do 25 percent better than last year and I have my plan for doing so.” Self talk should be personal. “I know I can make this sales goal because I am trained, I am prepared, my strategic plan is in place and my clients have

As Ben Franklin said, “well done is better than well said.” Once you put these suggestions in place and do them, you will see increased business; implementation is the final step in coaching.

Rita Santamaria is the owner of Champions School of Real Estate in Houston TX. Champions have campuses in Houston, Austin, Dallas, San Antonio and On-line Campus. For more information www.ChampionsSchool.com

CHAMPIONS SCHOOL OF REAL ESTATE ®

Steve Jobs, CEO, Apple, is quoted when speaking to Stanford University, “You’ve got to find what you love and live like you are hungry, everyday”. Being your personal coach starts with a basic plan or a strategic plan and then implementing your plan. When you have direction you are not wasting your time on non-revenue generating hours.

Prospecting for business is a daily task. When you develop and continue to grow your contact list, there will be business in your pipeline.

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SMALL BUSINESS TODAY MAGAZINE APRIL 2013 | PG 8

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EDITORIAL FEATURE

Entrepreneurs Tool Box Cash Flow Management

ENTREPRENEURS WORKBOOK

By Alvin E. Terry, MBA / Business Consultant, Dynamic Business Builders

ash flow is the life blood for any business. You can have cash flowing through your business, but the lack of cash flow management is the essential ingredient for your survival. Cash is essential for growth. Cash is essential for the daily maintenance of any on-going business concern. The efficient use of cash is as important as your customers. Without using the cash in-flows wisely, it can lead to untold nights of sleeplessness. Believe me, I have experienced those nights being an entrepreneur myself. Entrepreneurship is not a destination; it is a constant process that has its ebbs and flows that will out-live you and your business. Operating in a capitalistic environment where “cash is king,” we all strive towards that same goal. That goal is to stay “solvent” at all times, whenever and wherever possible. It does not matter if you are a one person operation or have hundreds of employees, the focus of the owners and the stake holders are the same, protect the bottom line and show a profit. Your cash flow management efforts should be to seek the most rapid conversion of your receivables and inventory into cash. You have to be diligent in understanding the efficient use of cash. You have to take control of your cashflow by exercising positive cash flow management. This can help to reduce the disruptions that will surely occur and assist in maintaining the continuous cash flow that is necessary to grow your business and remain profitable. Realizing that positive cash flow management is an important “profit center” in your business is the first step required to start on the process of taking control. Working with an Accountant, they can explain the difference between cash accounting and accrual accounting and the effects that it can have on your available cash to operate. Don’t get caught off guard with cash on the books and actual cash in the bank. Sometimes you may have a backup plan by filling in the gap with external financing such as lines of credit, an additional investment, or perhaps considering accelerating the collection process of your accounts receivables. Don’t get caught in a position of financial embarrassment because of a sudden cash flow squeeze. “Leverage,” always consider your cash alternative options that are available to you. At times, the firm may have to take a pro-

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active approach and use its receivables as collateral for a short-term loan. It may have to consider factoring. Not anticipating growth with extra expenditures can create a cash flow liability that can outpace realized cash income and prevent a company’s expansion. You should add the balance sheet to the income and cash flow statements as the fundamental tools for your cash flow management tools. Without external financing, accounts payable could fall so far behind payments that suppliers could limit your credit lines which would prevent your company from filling orders or administering services. Always consider the cash flow process is a profit center in your business. The cost of capital, bank debt, bridge loans, mezzanine financing, hard money loans immediately impacts your bottom line in the way of reduce profit margins. As we say in the business, it is the cost of doing business. Interest expense is real. You may write it off on your income taxes at the end of the year, but someone else is claiming your expense as an income and a possible profit for them. Understanding your limits of cash capability in the cash flow cycle of your business can give you added protection in avoiding a cash flow crisis. All businesses go through cycles that may not be perfectly balanced, but understanding the larger view of managing and focusing on your cash can help you rest at night. Minimizing surprises because of having the correct knowledge and capacity to act accordingly can guide you and your company to growth and prosperity. Employing the techniques that are recommended to manage all of the components that will affect your business individually and collectively will require a more in-depth prospective which cannot be covered in this article. Most importantly, being aware of the importance of cash flow management can help guide your company through tough times and avoid financial ruin. Once again it has been a pleasure to bring to you valuable information that get you thinking in the right direction which can ultimately save you time and money! Good luck and be prosperous

You may contact Alvin E. Terry, MBA @ alvin.terry@rocketmail.com or by Cell @ 713-392-9107

SMALL BUSINESS TODAY MAGAZINE APRIL 2013 | PG 9

EDITORIAL FEATURE

Thinking. Let’s think about that! By Doug Winnie

ur thoughts are pretty much all we have. We are probably better at letting others control our thoughts instead of controlling them ourselves. Isn’t that an interesting thought!

Think about the TV you may watch on a daily basis. Just this morning, I was talking with a fellow networking buddy and he told me about his morning ritual which included watching at least 30-minutes of Fox News, every morning. What do you think? Does watching Fox News help you create your own thoughts or help you formulate thoughts related to whatever is on that news program?

is pretty interesting. We do it because we are human and we actually want to be aware of all the threats out there. Our mind is constantly searching for threats to protect us from. We look for it, seek it out even, and then work to protect ourselves. We still stop and look at the freeway accident, we still are drawn to the death and destruction on the planet, and unfortunately, we are all drawn to the negative drama that occurs every moment of every day.

Back to your sales presentation this morning, if you’ve absorbed all the negative things going on in the world and your mind is working hard to protect you from it, are you better or worse off because of the information? You are definitely worse off. You see, your sales presentaYour job is to pay close tion will be tainted because of your tendency to focus attention to what you allow some of your attention on the negative. You may even to enter your thoughts. talk about it with your colThen decide what to keep. leagues before the meeting or even to your clients during the presentation.

Let’s consider your big sales presentation coming up in a few hours. Your morning ritual informs you that the economy is bad, the housing market it bad, that taxes are going up and that school care is getting worse. You also learn about the large car accident on the freeway and that an auto-manufacturer is recalling 110,000 vehicles because the engine light flashes accidentally in some models. Maybe you are lucky enough to hear how the weather will be stellar over the next few days. Then the forecaster says something like, “Great weather today. Too bad most of us will be at work and won’t get to enjoy it. Have a great day anyway!”

“

Now, all these negative thoughts have been placed in your mind. You can ignore them and some people think they are good at that, while others admit ignoring the negative is really very hard. If attitude is everything (as many great sports coaches have claimed for many decades), and controlling your attitude is key to have a great attitude, then why do we allow such negative thoughts into our minds? The answer

”

Jim Rohn calls this “stinking thinking.” We should avoid it at all cost. “Avoid it” is exactly what I do. I don’t watch the news, I don’t read the newspaper, and I don’t listen to the “stinking thinking” which is out there in the world. I instead listen to good sales CDs, good motivational talks, and great business leaders talking about how they’ve gone from “Good to Great” (Jim Collins). What has been the result of avoiding all this negative input? Great question!! Well, in the three years since I’ve joined the ActionCOACH community, I’ve gone from being at the bottom of the rankings to the top. I’ve gone from no awards to the most prestigious award. I’ve helped my clients think positively as often as they can, and they’ve won awards, too! Most importantly, they’ve grown their Continued on page 38

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EDITORIAL FEATURE

The Five P’s Of Long Term Prosperity MENTORING & EXECUTIVE DEVELOPMENT Aaron Young, CEO Laughlin Associates

t takes a great deal of focus and determination to keep a business running strong and it starts with having a clear understanding of the Five P’s: purpose, preparation, protection, passion, and profits, which all play an equal part in your business success. Each category comprises a specific portion of the business which characterizes the steps needed to create long term growth and prosperity.

you are getting ready for expansion make sure the systems you have in place can be duplicated. If you depend on one supplier, get a backup in place. Being able to manage change, good or bad, no matter what the circumstance can save you from devastation.

PURPOSE

-Kevin Day, Esq.

“People with clear, written goals, accomplish far more in a shorter period of time than people without them could ever imagine.”– Brian Tracy, Author

Running a business is risky, but you can greatly reduce that risk by establishing layers of protection between yourself, your business and your assets. The willingness to take risks is what separates entrepreneurs from the rest of the world but successful business owners know the difference between intelligent risk and waving the red flag. Asset protection starts with a strong foundation that separates out your assets. By utilizing a corporation or LLC you can eliminate the risk of putting all your eggs in one basket. Risk is part of business but you can greatly reduce the risk by putting the right pieces into place to ensure the continuation of your business into the future.

Defining the purpose of your business plays a critical role in the success of your company. When you started your company you had a reason, you had a vision, and you had a mission. Your business purpose should be what drives you every day and provides you with the framework to make smart decisions that are aligned with your business goals. When evaluating next steps, new products, services or affiliates you should compare them against your company’s purpose. If they aren’t aligned then don’t do them. PREPARATION “By Failing To Prepare, You Are Preparing To Fail” -Benjamin Franklin Preparation is critical for long term growth throughout the business life cycle. It’s always good to be prepared for the worst, natural disaster, litigation, financial failure but it’s just as important to be prepared for growth. Preparation starts with planning. If you have data, back it up. If

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PROTECTION “Making money is only as good as your ability to keep it.”

PASSION “A person can succeed at almost anything for which they have unlimited enthusiasm.” -Charles M. Schwab When you are able to align your passion with your business all of a sudden you start to manifest results. The passion for what you do, how you do it and who you serve will be the driving force to your success. The passion is what carries you through the tough times. If you are feeling lost,

bored or stuck in your business, it’s time to reconnect with your passion. Take the time to listen to your inner voice, love what you do, embrace your calling and keep pushing forward. PROFITS “Entrepreneurial profit is the expression of the value of what the entrepreneur contributes to production.” Schumpeter, Joseph A. Profits are the benchmark of business. Profits can only be obtained when the revenue out paces the expenses, taxes and costs of running your business. Without profit your business won’t last long so keeping a close eye on your expenses and profits plays a big part in the long term sustainability of your business. You should know the cost to produce every product and service you offer. How can you cut costs? Can you raise your prices? If there is an upsell service you can provide, would that add to your bottom line without increasing your costs? These are just a few of the questions you should be evaluating on a day to day basis to drive profit to your bottom line. Operating a successful business starts with staying focused, having a plan and being prepared. The decisions you make should be centered around your purpose and aimed at fulfilling your passion.

Aaron Young, CEO of Laughlin Associates can be contacted at aaronyoung@laughlinusa.com, 1-800-648-0966, www.laughlinusa.com.

SMALL BUSINESS TODAY MAGAZINE APRIL 2013 | PG 11

EDITORIAL FEATURE

Yesterdayism…

BIG PICTURE OF BUSINESS

Learning from the Past, Planning for the Future. By Hank Moore / Corporate Strategist™

This Annual Report issue celebrates the year, as basis for helping business people to prepare for the future. People are interesting combinations of the old, the new, the tried, and the true. Individuals and organizations are more resilient than they tend to believe. They've changed more than they wish to acknowledge. They embrace innovations, while keeping the best traditions. When one reflects on changes, he/she sees directions for the future. Change is innovative. Customs come and go... some should pass and others might well have stayed with us. There's nothing more permanent than change. For everything that changes, many things stay the same. The quest of life is to interpret and adapt that mixture of the old and new. People who fight change have really changed more than they think. The past is an excellent barometer for the future. I call that Yesterdayism. One can always learn from the past, dust it off, and reapply it. Living in the past is not good, nor is living in the present without wisdom of the past. Trends come and go and the latest is not necessarily the best. Some of the old ways really work better and should not be dismissed just because they are old or some fashionable trend of the moment looks better. When we see how far we have come, it gives further direction for the future. Ideas make the future happen. Technology is but one tool of the trade. Futurism is about people, ideas, and societal evolution – not fads and gimmicks. The marketplace tells us what they want, if we listen carefully. We also have an obligation to give them what they need. In olden times, people learned to improvise and "make do." In modern times of instantaneous disposability, we must remember the practicalities and flexibilities of the simple things and concepts.

SMALL BUSINESS TODAY MAGAZINE APRIL 2013 | PG 12

Things which Made Comebacks... Ceiling fans. The jitterbug and swing music. Hardwood floors. Stained glass. Things the Economy Has Exempted... Penny arcades. Five-and-dime stores. Full-service gas stations. Free car washes at gas stations. Towels in boxes of detergent. Mom-and-pop stores. S&H Green Stamps and other redemption programs. Things which the Marketplace Has Eclipsed... •

Ice delivered in blocks via a horse-driven carriage by the ice man

•

Milk delivered in bottles via a horse-driven carriage by the milk man

•

Going downtown to do all of your shopping

•

Drive-in movies

•

Stores closed on Sundays

The Old Became the New Again... The original speed for phonograph records, as invented in 1888, was 78-RPM, which engineers determined to be the most ideal for sound quality. In the 1940s, technology brought us the 45-RPM and 33-1/3-RPM records...adding up to the "mother speed" of 78-RPM. The 1980s brought us compact discs, which play at a speed of 78-RPM. Station wagons of the 1950’s went out of style. They came back in the 1980’s as sport utility vehicles. Midwives were widely utilized in previous centuries. In modern times, alternative health care concepts and practitioners have been embraced by all sectors of society. Herbal ingredients and home remedies have gained popularity, and cottage industries support them. Telephone party lines went out of style in the 1920s. They came back in the 1990s as internet chat rooms.

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EDITORIAL FEATURE

Corporations have become extended families, thus embracing the dysfunctional, changes, modifications and learning curves. Schools started out as full-scope community centers. As the years passed, academic programs grew and became more specialized, covering many vital subject areas. Today, with parents and communities severely neglecting children and their life-skills education, schools have evolved back to being full-scope community centers. Seven Levels of Yesterdayism Learning from the Past, Sources of Insights: 1. T hink They've Been There...Haven't Yet Fully Learned from It. 2. Saw It Happen...Understand It. 3. Participated In It. 4. Been There...Learned from It. 5. Teach, Understand and Interpret It. 6. Innovated It...and Teach You Why. 7. Innovative Then and Now...Still Creating. Seven Applications for Yesterdayism How to Shape the Past Into the Future: 1. R e-Reading...Reviewing...Finding New Nuggets in Old Files.

who keep turning up like bad pennies and colleagues from another day and time. 3. Mandated. Meetings, receptions, etc. Sometimes, they're pleasurable, such as retirement parties, open houses, community service functions. Other times, they're painful, such as funerals or attending a bankruptcy creditors' meeting. 4. Instructional. See what has progressed and who have changed. Hear the success stories. High school reunions fit into this category...their value depending upon the mindset you take with you to the occasion. 5. Reflect Upon the Past. Reconnecting with old friends, former colleagues and citizens for whom you have great respect. This is an excellent way to share each other's progress and give understanding for courses of choice. 6. Benchmarking. Good opportunities to compare successes, case studies, methodologies, learning curves and insights. When "the best" connects with "the best," this is highly energizing. 7. Goal Inspiring. The synergy of your present and theirs inspires the future. Good thinkers are rare...stay in contact with those whom you know, admire and respect. It will benefit all involved.

2. Applying Pop Culture to Today. 3. R eview case studies and their patterns for repeating themselves. 4. Discern the differences between trends and fads. 5. L earn from successes...and three times more from failures. 6. Transition your organization from information down the branches to knowledge. 7. Apply thinking processes to be truly innovative. Apply History to Yourself. The past repeats itself. History is not something boring that you once studied in school. It tracks both vision and blindspots for human beings. History can be a wise mentor and help you to avoid making critical mistakes. Seven Kinds of Reunions Obtaining Perspective: 1. P leasurable. Seeing an old friend who has done well, moved in a new direction and is genuinely happy to see you too. These include chance meetings, reasons to reconnect and a concerted effort by one party to stay in the loop. 2. P ainful. Talking to someone who has not moved forward. It's like the conversation you had with them 15 years ago simply resumed. They talk only about past matters and don't want to hear what you're doing now. These include people with whom you once worked, old romances, former neighbors, networkers

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EDITORIAL FEATURE

How Targeted Email Lists Benefit Small Business MARKETING STRATEGIES By Amy Olivieri, Constant Contact Regional Development Director Amy Olivieri

mail lists are not just handy for keeping contacts organized. If they’re segmented with customer information in mind, they can be important relationship-building tools. This is particularly important for small businesses, whose key advantage over bigger corporations is the ability to cultivate and maintain crucial customer relationships.

will carry over long after the purchase. Keep the power of a list in mind as new customers walk through the door. Asking people if they’d like to receive email updates about the product they just bought can be a great way to continue the relationship, make your business top-of-mind, and keep the customer coming back for more.

Here are three ways to begin segmenting your lists: 1. Get customer information up-front If a customer purchases a product from your business, put them on a specific list that pertains to that product. You can still send a general newsletter, too, but this way you’ll know what they’re interested in and will be able to send them targeted promotions in the future.

Amy E. Olivieri is Regional Development Director of Constant Contact. Reach her at: aolivieri@constantcontact.com or (713) 401-2841 www.constantcontact.com/amy-olivieri

2. Make a list for loyalists Repeat customers are a huge source of business, so make sure to show them they’re appreciated. Having a list for veterans can help give them a personal experience and, every once in a while, a reward for their loyalty. 3. Create a personalized email for a personalized experience If customers purchased a certain product or service, follow up with an email specific to that product or service. That way, you can build on the initial relationship, provide them with your expertise, and leave a lasting impression that

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“The key advantage of a small business over bigger corporations is the ability to cultivate and maintain crucial customer relationships”

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EDITORIAL FEATURE

Sales Forecasts You Can Count On – Crucial to Your Success By Craig Klein, CEO of SalesNexus

orecast, projection, sales goal, or annual quote…. Whatever you want to call it, you know what it is but, do you have one? Is it just a number you dream about hitting? Very few businesses create a revenue projection they can live by. One reason is that it’s tough. Those who have tried know that projections are nearly always wrong and when they’re wildly wrong it makes the entire exercise seem pointless. We recently hosted a webinar on sales pipeline management and sales forecasting featuring Jim Wilkinson, the Strategic CFO, and I learned a few things about forecasting. Coming from the sales side of the house, I’ve always seen forecasts as mainly about forecasting revenue, setting sales quotas and managing sales people. Jim opened my eyes to the importance of forecasting from a financial and financing point of view. What Jim pointed out is that bankers need to see forecasts based on real measurements in order to invest in a business. And most business’ projections are wrong because they’re unable to forecast sales accurately. Bad Sales Forecasts Lead to Low Profits If the sales forecast is off, then all the projections of expenses, capital requirements, manpower and everything else will be wrong too. This damages profits every time. If sales forecasts are higher than

actual results, then expenses will be too high relative to revenues and profits down. If sales forecasts are too conservative, then the business will be under resourced when sales opportunities outstrip expectations and some will be missed.

New leads or opportunities are the most obvious. Whether it’s call-ins, leads through the website or visitors to a retail location or some combination of these “initial contacts” or “leads,” they define the universe of potential near term sales.

So, a good accurate forecast of sales revenue enables good sales management, management of resources and investments to maximize profits and facilitates access to additional capital to accelerate growth.

Then there are the steps in the buying or sales process. In most B2B businesses, defining the objective criteria that make a “qualified” sales opportunity is crucial and often most challenging. It’s crucial because a business can have more leads than it can handle and still miss revenue forecasts. Because the leads can be converted to customers, comparing the volume of leads to the number of truly qualified leads quickly identifies this problem. A business that relies on out bound prospecting like cold calling, trade shows, referrals or networking can find that sales people are very productive at connecting with leads but, not very qualified ones.

Yet a good projection of future revenue is so elusive! Why? During our webinar, the Strategic CFO, Mr. Wilkinson pointed out that most CEOs present their banker with a projection, which is just a simple extrapolation of the previous year’s sales (last year by 15 percent or so…). After all, what else do you have to go on other than past performance? Are there other factors that can be used to accurately predict sales? Absolutely! You just have to start measuring them. What to Measure to Forecast Sales Every business has a series of “leading indicators” of sales or steps in the sales process that precede every sale. Unfortunately, it’s very rare that these factors or indicators are tracked or measured. The good news is that it’s not difficult to track these things. What are the most crucial “leading indicators” a business should track?

Then once a lead is qualified, what are the steps that the buyer follows toward the purchase? Proposal? Demo? Presentation? In a retail or e-commerce environment, things that are generally thought of as negative can frequently correlate well with future sales. Such things are abandoned shopping carts, support inquiries, even returns. By simply noting the number of these events each day, week or month and then comparing that to sales in the same period or sometimes in future periods, over time, a benchmark for each will reveal itself such as the Continued on page 36

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EDITORIAL FEATURE

Giving Back Isn’t Just for Big Businesses SOCIAL MEDIA Aimee Woodall

ouston was recently named one of the top 10 best cities for small businesses. (Thanks, The Business Journals!) Jobs are up. Small businesses are growing and thriving. We’re lucky to live in this city where business is booming, so why not do a little somethin’ somethin’ to help out? I’m talking about giving back: i.e., donations, volunteer projects, pro bono work the whole shebang. Giving what you can, when you can. Sharing a little (or A WHOLE LOTTA) love with your community.

you out in the community in front of new audiences. Plus, by taking part in volunteer opportunities you’ll increase employee morale. Everyone wants to work for a company that improves the community. They’ll be bragging about their altruistic experiences on Facebook and Twitter in no time.

Giving back isn’t an option, either. Consumers are expecting (and even demanding) this type of philanthropy from the businesses they support. We As business owners, we’re able to connect can no longer sit back and ignore our community’s to POWERFUL concerns and needs. It is organizations doing great now a part of corporate things, and then connect culture and consumer “A charity project can also those organizations expectation to include these to our consumers so efforts you MUST find a way be good for strengthening a that we’re doing more to include it in the overall business’ positive image not to than something good planning and strategy for for now, we’re creating mention that warm and fuzzy your organization. better futures. In the feeling that comes with knowing As business owners, we past, we’ve left this work have a built-in audience in to social workers and that you’ve helped someone" our consumer-bases so we philanthropists, but they owe it to people everywhere can’t do it alone. It’s up to to choose worthwhile us to use our businesses to give back. messages and causes. And it doesn’t matter how Take a lesson from those public relations and small your business is. You don’t need an entire marketing departments, they’re staffed by born department of corporate giving to take on this task. (or trained) writers, designers, illustrators and This isn’t a job for the Bill Gates of the world; it’s for programmers. Those industries have swayed people everyone. It’s 2013, and we can tweet, tumbl, post, to buy Snuggies or spend inordinate amounts of pin or shout through a bullhorn to the entire freaking money on soup. If they can do that, they certainly world. can get people on board for a worthwhile cause. After all, somebody needs to. Why not us? There’s actually a reason why those departments handle these efforts. A charity project can also be good for strengthening a business’ positive image not Aimee Woodall-Black Sheep Agency. to mention that warm and fuzzy feeling that comes Contact her at 832.971.7725or by email at with knowing that you’ve helped someone. (Did aimee@theblacksheepagency.com anyone say tax break?) It will help your company build Theblacksheepagency.com vital connections and increase visibility by getting

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EDITORIAL FEATURE

Your Next Step How to Choose THE Right Speaker for Your Next Event By Jack Warkenthien

UT FRONT

Houston is a convention city and destination favorite for many associations and corporations around the globe. Regardless of the nonsense happening all around us — economically, politically and culturally — organizing and hosting meetings is a recession-proof industry. They are here today and here to stay.

In fact, many ancillary, service-based, companies have been spawned to assist in the planning process, from caterers to concierges, from satellite transmissions to speakers’ bureaus. Ah, speakers! Is there a more crucial ingredient to the recipe for a memorable event? I don’t think so, and here’s why. There are four items every meeting agenda must include, regardless of who’s chosen to present the message 1. Information 2. Education 3. Entertainment 4. Recognition

Though each company will parade their internal “subject matter experts” in front of the attendees, everyone knows they can’t be prophets in their own “hometown.” Even the Bible reminds us of this in Luke 4:24. Since the purpose of every meeting revolves around one or more of the four, you want to ensure that any and all speakers make the grade before class begins. The following questions

will help you choose the right person with the right message, at the right time, taking into consideration the three meeting stages: Before, during and after your event. Before the event 1. How do I want our attendees to feel at the end of the session? Decide now: What one or two things must occur for the program to be a success? Once you know what the end zone (metaphorically speaking) looks like, you can choose your starting line-up. 2. What is our budget? There’s no right or wrong answer here — there’s only reality. The sooner you know what you can afford to invest, the sooner you can shop for a speaker within the budget range you specify. Otherwise, you’ll find yourself sampling some of the finest imported merlots and serving a cheap domestic. 3. What exactly is needed? Do you need an informative speaker (a subject matter expert on the topic); an educator someone who can teach the subject); an entertainer (the sizzle not the steak) or a host/hostess (a master of ceremony who will moderate the program). You many want to balance your program to include a healthy mix of all four ingredients. 4. Is there evidence of past success? Research your top candidates before choosing.

The best sources are telephone testimonies and letters of referral from past clients. Even a Google search on the Internet will turn up several (if not hundreds) of mentions by speaker name. Scary thought, isn’t it? 5. Will they deliver a “personalized” or “customized” message to our group? The alternative: delivering an “off the shelf” speech that’s so generic, the presenter could have phoned it in? Does he or she invest time with you, and other meeting representatives, completing a pre-program survey to learn more about your needs well in advance of your event?

At the event When you invest precious resources in a speaker, you’re unable to relax until you know he or she has safely arrived — well before they’re scheduled to “perform.” 1. Will they provide a minimum of one half-day of cushion? Most speakers will want to come in the evening before a morning event, or the morning of an evening engagement. Why? Mostly to get a feel for the audience, the association or firm, the venue and other intangibles. If they’re really on the ball, they’ll want to meet you, first-thing, upon arrival. 2. Do they insist on reviewing all logistical arrangements (handouts, audio-visual needs, seating arrangements, Continued on page 36

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EDITORIAL FEATURE

Seven Alternative Methods to Calm Fear of Public Speaking EMPOWERING PEOPLE By Pam Terry

or some people, no matter what they try, they can't seem to get past their fear of public speaking. There are several things that should reduce and even eliminate nervousness and anxiety. These are:

•

Taking the focus off of you and focus on the value that you are providing

•

(it's not about you - it's about the audience)

•

Believing in the value you are providing

•

Preparing a written outline or written speech

•

Actually practicing your presentation

•

(preparing & practicing can reduce 75 percent of anxiety)

•

Giving your presentation often

•

Appreciating your audience

•

Allowing yourself to make mistakes

•

Deep breathing/exercising

•

Investing in improving your speaking skills

In my workshops on Mastering Public Speaking, I spend, on average, about 30 minutes discussing these various techniques for eliminating anxiety. Although these methods are highly effective for reducing and eliminating anxiety, and most people “get” them, there are those who simply continue to feel powerless to stop stressing about speaking. These people are still focused on themselves, and can't seem to shift their focus no matter what. Stress and anxiety are products of the mind. Therefore, the focus is inward and the thoughts are actually causing the stress. But, knowing this, for some people, doesn't make any difference. These people feel powerless to change. In these extreme cases, there are alternative methods for eliminating any anxiety, which may stem from a traumatic SMALL BUSINESS TODAY MAGAZINE APRIL 2013 | PG 26

incident or could be because of health issues (as viewed by acupuncturists). I have heard some people say that they take drugs to calm their nerves. I do not advocate masking anxiety with drugs, at least not as a permanent solution. Why do that when you can eliminate the issue all together and become healthier in the process? Healthy alternative and effective methods include: Acupuncture – Anxiety can be a result of energy that is blocked in certain organs. Acupuncture focuses on well-being as a by-product of freedom from energy blocks. In Houston, I recommend: David Trevino, M.Ed., M.S.O.M., L.Ac., Acupuncturist http://www. acupunctureandnutritionclinic.com/acupuncturisthouston-texas/ Hypnosis - Can eliminate anxiety in one to three sessions. In Houston, I recommend: Michael Yeager, B.A., LCDC, C.Ht, LMT, CAS, SAP, CTC, Holistic Healthcare Practitioner including Hypnosis services. http://www. contemporaryteaching.com/about.html Emotional Freedom Technique (tapping) - EFT is a relatively new therapy that is similar to acupuncture in that you are tapping on certain points on your hands, face, and head. You can do EFT yourself or have someone do it for you. You'll find demonstrations of EFT on YouTube. Search for "EFT for Anxiety." The Landmark Forum – an extraordinary, accelerated, and transformational educational seminar that causes permanent shifts in the quality of your life. www. landmarkeducation.com Essential oils therapy – There are at least a dozen essential oils for dealing with anxiety. Do a Google search for “essential oils for anxiety and panic attacks.” Fitness and nutrition – Caffeine and sugar can exacerbate anxiety. Exercise, eating healthy, and getting a good night’s rest can help reduce anxiety and boost your wellbeing. Continued on page 41

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EDITORIAL FEATURE

Wow Your Employees First! By Errol D. Allen

uring my customer service career, I have seen many reminders advising employees to "Wow the customer!" It's important to "Wow" the customer as this is a surefire way to increase customer retention. What about employee retention? I think it's critical to "Wow!" the employee first. An organization's ability to "Wow!" its employees has multiple impacts to the level of service provided to the customer. Money and benefits are not always the primary drivers of employee retention. Here are a few ways to "Wow!" employees: "Wow!' Employees With Great Core Values - Core values are the guiding principles by which an organization determines how it will operate. Wow your employees by including integrity in the core values so that it's apparent that everyone is held accountable for the actions. True integrity includes communicating honestly with your employees. It also means making agreements that you can keep. Wow your employees by making sure that respect is one of your organization's core values so that they know that they will be treated as someone who has something to contribute to the organization's success regardless of their position. Make sure that they are spoken to in a professional and respectful manner at all times. "Wow!" Employees With Comprehensive Training - It's important for employees to "Wow!" the customer during interactions. "Wow!" your employees by providing comprehensive and practical training. Make sure employees have the "tools" required for providing a great customer service experience. These "tools" should include the proper product/service knowledge to assessment customer needs, to

answer customer questions and to resolve customer issues. Make sure your employees are product/ service "experts". Another "tool" is hands-on training with whatever they will utilize when interacting with the customer. Make sure they thoroughly understand who/what their actions impact when performing their duties as well as understanding who/what impacts their functions. This step creates an awareness of how their actions will impact others within the organization as well as understanding how others' actions impact them. "Wow!" Employees With Great Management - The attitude and actions of supervisors/managers are a major factor in maintaining positive employee morale and employee retention. "Wow!" your employees by making sure supervisors/managers are equipped with both people and operational skills. When your employees feel that supervisors/ managers are competent in both of these areas, contentiousness and apathy are less likely to become a factor in your organization. "Wow!" your employees by driving out fear in your organization. Employees should not be the victims of intimidation or fear reprisal from supervisors/ managers when raising questions and concerns. "Wow!" your employees by insuring that managers regularly solicit ideas and suggestions for improvement. Reward them for implemented ideas and suggestions. "Wow!" your employees by requiring supervisors/managers to regularly spend time with employees as they perform their duties in order to get their perspective. Regularly review workload requirements to insure they are not out of balance with performance goals. "Wow!" your employees by getting their input on

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performance criteria and goals. "Wow!" Employees With Loyalty - It has been stated often that employees should be loyal to the organization. That's a two-way street! "Wow!" your employees by displaying the same loyalty to them that you expect them to display toward the organization. Do you expect them to be loyal to the organization during times of crisis? Employees expect the organization to be loyal to them during their time of crisis. When the organization asks the employee to go the extra mile for the organization, remember to reward the employee for doing so. Just as you reward your long - term customers for their loyalty to your brand (you are doing this right?), do the same for your longterm employees for their service and dedication to your organization. "Wow!" your employees by reminding them that they are the reason that your organization is successful. Yes - the customer is important to the success of your organization, but it takes great employees to take care of the customer. Your willingness to "Wow!" your employees with loyalty will certainly increase the level of service experienced by your customers! Create a "Wow!" experience for your customers by creating a "Wow!" experience for your employees first. "Wow!" them with Core Values, Comprehensive Training, Great Management and Loyalty.

Errol Allen â&#x20AC;&#x201C; Customer Service Engineer can be emailed at errol@ errolallenconsulting.com or call him at 1-800-830-4167 www.errolallenconsulting.com 1-800-830-4167 www.errolallenconsulting.com www.SBTMagazine.net

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EDITORIAL FEATURE

Atlas, Value, Scarcity and a New Economy By Bertrand McHenry/President & Owner of the Referral Institute of Houston Bertrand McHenry

ith her masterpiece, “Atlas Shrugged,” Ayn Rand became a major paradigm shifter by challenging our beliefs about the value of money, wealth and production, and helped to lead us into the embrace of a new economy. Her character, Francisco d’Aconia, overhears a party attendee remark on the belief that money is the root of all evil. This seemingly harmless remark leads Francisco into a 10 page spoken manifesto, which begins with, "So you think that money is the root of all evil?" said Francisco d'Aconia, "Have you ever asked what is the root of money? Money is a tool of exchange, which can't exist unless there are goods produced and men able to produce them. Money is the material shape of the principle that men who wish to deal with one another must deal by trade and give value for value. Money is not the tool of the moochers, who claim your product by tears, or of the looters, who take it from you by force. Money is made possible only by the men who produce. Is this what you consider evil?” This is the basis of trade and economy and we are always attempting to create value in the market place. Seth Godin says that economies are always based on scarcity, hence the term “economize.” Think about that for a moment, there is no premium on what is abundant, on what is easily and often within reach. So, in this digitally abundant world where music seems readily available, information is abundant and free, what then is valuable and scarce? Trust and connection are both valuable and very scarce. In his best-selling book, “The Speed of Trust,” Stephen M.R. Covey says that while trust has traditionally been seen as a soft social grace, it can become a real hard edged economic driver. I agree, up until 10 years ago all of the literature on selling and business had been about the art and skill of the transaction…

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the deal, which forced us into selling with discounts, added value propositions, unique selling propositions (USP), which are all artificial manipulations. Today the consumers, and that includes business to business relationships, are savvy to and weary of those manipulations. Again, what is at a premium is real connection and trust. That is what will drive in the market place. So my question to you is, in your world, in your market place whom are you really connected to? Who do you trust? More importantly, who trusts you? Who really knows you? Who is connected to you? Take stock of that list and understand for better or worse that list is your network! Are you earning trust and connection everyday by making deposits in strategic relationships? Are you attempting to be transparent and genuine in all your transactions? Or are you afraid to let go of the old school; manipulations? As Seth Godin says, “Burning through your assets.” Think networking is just another social activity? Think again! Intentionally building your network is one of the single most critical activities you can engage in as a business owner, sales person or manager. In fact when you get your network built you will have created the most powerful economic driver your business can have and that is indeed scarce. So what’s it going to be? Are you going to fall back on what is known and easy or are you going to carve out your place and help lead us into a new abundant economy by dealing in what is truly scarce? Go Build Value!

Bertrand McHenry President Owner The Referral Institute of Houston Bertrand@referralinstitutehouston.com 281-401-9852, 281-300-8228

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EDITORIAL FEATURE

Qualifying for a Real Estate Mortgage through the SBA Loan Programs By Bruce Hurta

ost small business owners focus upon Business Cash Flow conserving cash for working capital and for The business’ income is recognized as the primary the growth of their businesses. Governmentsource of repayment for a small business real estate loan. backed financing, with SBA loans, is a popular The historical track record of the business’ income is the form of small business real estate financing to achieve this best indicator of its profitability and success in the future. goal. Small businesses can qualify for financing with longer A small business lender typically uses the business’ repayment terms, lower down payment requirements, last three years income tax returns, plus current interim and more lenient underwriting guidelines with the SBA financial statements, to evaluate the amount of cash flow 7(a) and SBA 504 loan programs. Qualifying for a small available to make loan payments. The available cash flow business real estate loan is different than qualifying for in each period is compared to the proposed loan payment an investment real estate loan. With investment real requirements to compute debt coverage ratios. Small estate, the lender focuses upon the quality of tenants in business lenders generally like to see debt coverage ratios the project along with the quality of the location. With of 1.2 times or better. A debt coverage ratio of 1.2 times small business real estate indicates the business financing, the lender focuses has available cash flow, upon the health and viability which is 120 percent of its of the small business which “ With small business real estate operating expenses and will own and occupy the real loan payments. That 20% financing, the lender focuses upon estate. A small business cushion gives the lender lender uses five components the health and viability of the small comfort that the small in his analysis of a small business has adequately business which will own and business loan request. planned for unanticipated Business Experience

Management

occupy the real estate. ”

The foremost reason for business failure, and therefore a loan default, is the lack of sufficient management experience in the industry in which the small business owner participates. A lender will gather information about the business owners to evaluate the education and business track record of the owners to ascertain their likelihood of continued success in the subject business. The more education and successful industry experience the business owner has, the less risk is perceived in lending money to that business.

business expenditures. Equity

While a small business lender becomes a partner in the business by extending credit, they are not an owner. A business owner (or equity partner) invests in the business, assumes risk, and he or she is rewarded for that investment risk with dividends and other forms of compensation. A small business lender, however, receives only a stated rate of interest on the money they have invested, and their risk should be commensurate with limited return on their investment. The small business lender expects to see a small business borrower with sufficient “skin in the game” Continued on page 32

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Continued from page 31 Qualifying for a Real Estate Mortgage...

to work hard and achieve success. Once again, the lender will employ ratios to ascertain safe levels of owner equity when making loan decisions. The most common ratio is the debtto-equity ratio. Small business lenders have access to statistics for various industries which indicate an appropriate level of leverage for the type of business for which a loan is being considered. Fortunately with SBA lending, lenders are more flexible with types of equity (or “skin in the game”) which can be considered. Not only can the SBA lender recognize cash dollars invested in the business by its owners; but also, assets outside the business pledged as additional collateral for the loan, will enhance what the lender considers equity. Finally, if a small business owner is buying business assets, and the seller agrees to subordinate standby financing, the SBA lender can enhance its debt-to-equity ratio this way. For instance, a seller of real estate may not be willing to negotiate a lower sale price; however, they are willing to carry a second lien note to help the buyer qualify for financing with a lower down payment requirement. If that seller agrees not to require payments before the SBA loan is paid, the SBA lender can add that amount to the buyer’s qualifying equity. Credit History Lenders love statistics. The best indications of how a borrower will meet his loan obligations in the future are the statistics reflected on a credit investigation that shows how other creditors have been paid by the borrower in the past. Small business lenders evaluate the repayment records of the individuals who own the business, as well as for the business itself. Credit reports are available from credit reporting agencies, as well as from direct contact with previous creditors. The more debts which reflect satisfactory payments in accordance with the loan terms, the more comfort the small business lender will derive from them. Collateral We have established the fact that a lender is not an owner, and the lender should only assume a level of risk which is appropriate for the limited income they will receive from lending money. It should be evident, therefore, that the lender will look for other ways to decrease their lending risk when approving loan terms. Besides evaluating risk based upon management experience, “skin in the game”, cash flow repayment ability and credit history, the business lender will also look at collateral offered for the loan. Collateral is represented by assets which can be sold to recover losses if loan payments can no longer be made by the small business borrower. Typically a lender will use the assets being financed as collateral. Other business assets and personal assets can be added to the collateral package to decrease the lender’s risk and to enhance a borrower’s chances for loan approval.

For more information, or if you have questions, please contact Bruce Hurta, Business Lending Manager at Members Choice Credit Union. 281.754.1112 office bhurta@mccu.com Follow Bruce’s Blog: http://brucehurta.wordpress.com/mccu.com SMALL BUSINESS TODAY MAGAZINE APRIL 2013 | PG 32

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Continued from page 19 How to Choose The Right Speaker for ...

microphone, dress code, recording facilities)? Sweat the small stuff with your speaker to ensure everything checks out. 3. Will they invest an hour or two of post speech time? Those hours just after a presentation are critical to your success. In addition to “basking in the afterglow” of a message well delivered, your speaker should make him — or her, available to the audience. An inspirational speaker will touch people in ways you can’t imagine. Insist on a bit of closure with your group.

Make NextStep your firSt Step towardS reachiNg your SaleS treaSure!

Competitors Sales

Vacation/Down-Time

Treasure! Sales Goal (1Q)

Sales Training

Networking Gold Sales Goal (1Q)

Large Account

Prospecting Activities X

Your Sales are here...

4. Is your speaker interested in mingling with your group in other ways? Whether it’s to attend receptions, meet with principals, audit workshops or dine with other presenters, the more face-time, the more relevant the message. The best presenters want to do this anyway. 5. Is he or she an insider or outsider? Is your speaker anxious and excited about being an insider and sounding like one, or an outsider who speaks in “me” versus “you” terms?

After the event

Sales Tools

Low Payoff ActiviSales Goal (2Q)

www.nextstep-solutions.com jwarkenthien@nextstep-solutions.com 832.344.6998

endless journey back and forth across the country? Remember, your speaker is building equity in your group thanks to your investment in them. You’ll want a return on that equity at a later date for another engagement. 3. Did they ask for a “love letter?” An astute presenter will probably ask for a referral letter if they’ve done a great job with your group. These “letters of reference” are gold to speakers, trainers and consultants.

1. Are all expenses submitted within five to 10 business days of the event? You deserve closure as soon after your meeting as possible. Ensure the expenses that were included were reasonable based upon your agreement up- front.

But have you considered the benefits you receive? Visibility! Often these letters — on your letterhead — find their way in front of future clients of yours. If you want your audience energized so they’re rushing to get to your events — and not searching for the exits when they’re there — you need to choose the right messenger. You will be the ultimate hero when your speaker lights your audiences’ fire. So invest time in the choice.

2. Is he or she a short-term vendor or long-term partner? Pay attention to your speaker after the glow has dissipated. Did they send you a thank you note and a message, inferring they want to join you again real soon? Or are you just another whistle stop on an

Jack Warkenthien, CEO, NextStep Solutions. Email him at: jwarkenthien@nextstep-solutions.com or call him at 832-344-6998 www.nextstep-solutions.com

You probably know “war stories” about expense reports received months after the event. That’s a sure way for a speaker not to be invited back in the future.

Continued from page 16 Sales Forecast You Can Count On ...

percentage of leads that are qualified and the percentage of qualified leads that eventually purchase. From these benchmarks future sales can be reliably predicted, resources planned and bankers wowed!

and sales people more effectively but, also you’ll have the confidence to set objectives and goals for the rest of your business and make strategic investments required to reach that elusive next level!

Of course, getting your team to document all these facts can seem daunting. Don’t let a lack of technology stand in the way of starting to track things. A CRM or sales automation solution can automate data capture and make generating reports easy. But, you need a good forecast to run your business. You’ll be able to manage sales

Craig is the founder of SalesNexus.com. a leading provider of CRM, Email Marketing and Lead Generation solutions to business 2 business sales teams.

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Continued from page 10 Thinking. Let’s think about that!

businesses! So, how do we not put those negative thoughts in our mind? First step is to realize they don’t have to stay. You don’t have to keep a thought. “What?” you might have just said to yourself. It’s true, every thought you have can be tossed away. It is a wonderful skill we can all have. I’ve been working with my “Thought Coach” for over three years now, and it is amazing how quickly I can throw away a negative thought. You can check out what and how she does it by reviewing her website: http://vqprofile.com/sbt1 The bottom line is you can indeed throw away a thought. For example, say someone cuts you off on the freeway during your commute to work. Your first thought may be, “That SOB!” Then you say to yourself, “I don’t want to keep that thought.” So you ask yourself, what is my next thought? Your next thought may be, “How dare he cut me off.” You again say to yourself, “Throw that away. What is my next thought?” You do this conscious thought pattern until you get a thought you want to keep. For example, “He probably didn’t see me. He may even be elderly and can’t see me at all.” Now that last thought you decide to keep and your drive continues unhampered and grief-free.

National National Association Association of of Women Women Business Business Owners Owners Houston Houston Chapter Chapter Connecting Women Who Connecting Women Who Mean Mean Business Business Why NAWBO? • Women own an estimated 10.6 million businesses in the United States • They employ 19.1 million workers (1 in 7) • Their businesses account for $2.5 trillion in sales • Women business owners are philanthropically active: seven in 10 volunteer at least once per month; 31% contribute $5,000 or more to charity annually; 15% give $10,000 or more. Shouldn’t you be involved in an organization that takes women business owners seriously? To find out more log onto www.nawbohouston.org or call 713-487-8475

It is an interesting reality when it comes to thoughts. Your job is to pay close attention to what you allow to enter your thoughts. Then decide what to keep. If you do this for 30 days, you’ll begin to create great habits to have positive thoughts resulting in a happy life and probably a more successful one, as well. Remember to check out http://vqprofile.com/sbt1 and do their free assessment – it will be a nice eye opener for you.

Doug Winnie/ActionCOACH can be reached at 713-936-3814 or via email at dougwinnie@actioncoach.com www.actioncoach.com dougwinnie

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print + identity

Custom logo design

digital

Do you have the creative team to reinforce your brand?

stationery systems

Marketing Collateral

annual reports & long documents

Is your brandâ&#x20AC;&#x2122;s online presence engaging dedicated users?

Website development & Maintenance

Mobile site design & development

proposals + presentations

social Media Branding

e-newsletters & digital Campaigns

Are new markets responsive to your brand?

The quick, brown fox jumps over a lazy dog. The quick, brown fox jumps over a lazy dog.

trade show Booth design

electronic presentations (e-Books & powerpoints)

proposal Management, development & design

Creative. dedicated. responsive.

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EDITORIAL FEATURE

How To Raise Capital To Start A New Business By: Jeffrey D. Jones, ASA, CBA, CBI

Jeffrey Jones

s a long time business owner and a Business Counselor for SCORE, I frequently receive requests from individuals about how to raise capital to start a new business. The following information is the advice I give to anyone who desires to start a new business venture. The two critical reasons most new start-up businesses fail is that they fail to develop a business plan and they go into business undercapitalized. Raising capital to start a new business can be a very daunting task. Equity capital and/or debt capital are the two types of capital that are needed to start or buy a business. Equity capital is money you have or money you obtain from investors who will own a portion of your business in exchange for putting up capital. Debt capital is money you borrow from a third party lender or from other individuals. Roughly 45 percent of all startup businesses are funded with the owners’ own equity capital. If you don’t have sufficient funds of your own, then you will need to rely on others to provide either the equity or debt capital. There are three sources of equity capital known as the “3 F’s,” which stand for family, friends, and fools. For the most part, the only people willing to invest in a new start up business are those who are very close to you and do it more as a favor than a true investment. In reality, why would anyone invest money in a new venture where they are a minority owner, have no control over operations, no control over distributions of profits, and must rely entirely on the skills and ability of the primary owner. Only close friends and family will consider such a venture. For debt capital, the sources are banks, credit unions, family, and friends. Banks in general are not very interested in loaning money to a new business. They may be willing to loan money for you to buy equipment, but not

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any money to serve as working capital. So again, you may have to seek out friends and family who may be willing to loan you money. However, any lender will want you to make monthly payments regardless as to whether you are profitable or not. One of the major problems small business owners encounter is that they use up all their available funds to buy equipment, inventory, rent deposits, etc., and then have no money left to serve as working capital to pay expenses while waiting for the business to generate sufficient sales to cover all the operating expenses. If often takes a new business two to three years to reach the breakeven point, and many never make it. These issues can be resolved by developing a business plan. This will force you to do the necessary research to learn about the industry you are choosing, and to prepare a five year forecast of income and expenses, which any equity partner or lender will want to see before giving you money. The business plan will outline how the money you raise will be spent and when you expect to repay the loans or provide returns on equity investments. Often in the course of developing a business plan, it will be determined that the idea is not feasible. If it is, then the business plan will be the support tool you will need to seek out equity and/or debt capital. You can obtain examples of business plans from the Houstonscore.org website. I strongly recommend that you get this information and begin the process of developing your business plan prior to seeking -debt or equity capital.

Jeff Jones is President of Advanced Business Brokers, Inc. and Certified Appraisers, Inc. 10500 Northwest Frwy., Suite 200, Houston, TX 77092 713-680-3290, jdj@certifiedappraisers.com

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Continued from page 26 Seven Alternative Methods to Calm Fear of Public Speaking.

The Rubber Band â&#x20AC;&#x201C; A simple technique - Think of a time in your life that was peaceful, joyful, fun. Place a rubber band on your wrist and every time you start to feel anxious, worry or have negative thoughts, pop the rubber band on your wrist and think about the peaceful, joyful, fun time in your life. This trains your brain. Public speaking can be fun and extremely rewarding. Being fearful about speaking is common, yet anyone and everyone can overcome their fears, anxiety or nervousness. A little bit of nervousness is ok. It just means you care.

Pam Terry is a speaker coach and communications trainer in Houston, TX. Her websites are www.pamterry.com and www.speakupstandoutconnect.com. She can be reached at pam@pamterry.com or 832-276-4153

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EDITORIAL FEATURE

My Life Was Over At Age 8

LIFE, BUSINESS & MONEY

By Steven Kay, Steven Kay Media LLC

Steven Kay Steven Kay Media

had a remarkable childhood. Not always an ideal one, but definitely a cherished one. I had two parents that loved me very much and raised me to have a positive outlook on life. No matter what we went through as a family, from the good times to the struggles, I knew everything would be okay. I had a wonderful family, with two older brothers who looked after me and protected me (except when they were picking on me themselves, which they did often). I had many aunts and uncles, as well as cousins, nieces, and nephews, all of whom visited regularly for family gatherings. All of my grandparents lived in town and I got to spend time with them day in and out, but it was my Grandpa Henry (from my mother’s side) I adored most of all. My grandfather was my best friend. I remember hanging out with him everyday of my life for as far back as I had memories. Every time I heard his Cadillac pulling up I ran out to greet him regardless of whatever I was doing (including jumping out of the tub once and straight out the door while my mother ran after me with a towel). He would take me around town for ice cream or to run errands or to just drive. Every time we passed the automated car wash, he would take me through because I was fascinated by the whole thing (keep in mind it was the early 70’s). I loved riding in that car, and had asked my Grandpa if I could have it when he died on many occasions (yes even at that age I was very direct), which he gladly said he would. Then on September 28, 1979 it happened, my Grandfather died. Everything changed in an instant and would never be the same again. I never cried so hard in my life, nor do I think I have since, and I didn’t think I would ever stop. The pain and loss were excruciating. I will never forget that moment as long as I live. I had understood the concept of death since I was four years old, so as my mother explained

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to me that my Grandpa had a heart attack in his sleep and never woke up from it, I knew exactly what she was telling me and what it meant to me. My life was over at age 8, and would never be the same again. Yet somehow I survived. Since that moment I have experienced many traumatic moments and heartaches. Breaking up with my first love, getting fired from a job that I had enjoyed, losing everything on a business venture gone awry; but very few, if any, have ever compared to what I had felt back then at that moment. Yet each time I had thought there was no way I could get past the pain, I found a way that I could. I have learned time and again no matter how bad it may feel or may actually be there is a way through it all to a more pleasant state, a place where we can not only survive but also use that loss to create, gain, and thrive in life. I think a lot of getting to this place has to do with our attitude toward life itself. Charles Swindoll said, “We cannot change our past… we cannot change the inevitable. The only thing we can do is play on the one string we have, and that is our attitude.” My family instilled in me this approach to life, and it is the greatest gift they could have ever bestowed upon me. I learned this from my Grandfather and all of my grandparents and my parents and everyone that surrounded me in my childhood. Like I said, it was remarkable.

Steven Kay, Talk Show Host & Producer Media Buyer & Consultant, Steven Kay Media LLC, 713-STEVEN-K (713-783-8365), me@StevenKayLive.com, www.StevenKayLive.com.

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MAY 15-16, 2013 : Reliant Center Linking women business enterprises (WBEs) with corporate purchasers, government agencies, and other women-owned businesses for the primary purpose of creating connections and building strong business relationships.

ENERGIZE your business with connections made at the wine & hors dâ&#x20AC;&#x2122;oeuvres reception as well as the awards luncheon that recognizes WBEs and corporate members for their accomplishments.

ENGAGE with other WBEs and learn about new ways to grow EMPOWER your organization by participating in one-on-one your business through innovative educational workshops. sessions with potential WBE suppliers, corporate buyers and networking with 150 exhibitors and 1,200 event attendees.

WBEA 2013 Conference Sponsors: Pearl Sponsor

Platinum Sponsors

Bronze Sponsors

Corporate Sponsor

Chevron

ExxonMobil

Flour

United Space Alliance

Shell Oil

UPS

For sponsorship information, please contact April Day aday@wbea-texas.org

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LOOKING LOOKING FOR FOR AN... AN...

LOOKING LOOKING FOR FOR A... A...

ATTORNEY? ATTORNEY?

TITLE TITLE AGENT? AGENT? LOOKING LOOKING FOR FOR A... A...

LOOKING LOOKING FOR FOR A... A...

REAL REAL ESTATE ESTATE AGENT? AGENT?

MORTGAGE MORTGAGE BROKER? BROKER?

WHERE YOU GO TO WORK

713-681-7001

Advertiser’s Index

Bayway Companies ......................................................24

NAWBO .........................................................................38

Bell Tech Home Health Care .......................................20-21

Nerium ..........................................................................15

Bethels Place Black Chamber of Commerce ...... 22-24

Next Step Solutions......................................................36

Champions School of Real Estate................................1

Quality Hospitality Travel d/b/a Cruise Planners ......... 32

Champions School of Real Estate .................................. 8

ROAR! Women's Leadership Conference 2013.................

CHI ................................................................................ 37

..............................................................Inside Back Cover

Congratulations to our First Year Cover Honorees ........ 2

Rose Bud Landscaping ...............................................24

Courthouse Direct.........................................................44

Sales Nexus ...................................................................27

Eric Kleiman Photographer ..........................................41

Steven

Hill Top HR Services ......................................................... 24

Suzanne Chadwell ........................................................13

Houston Minority Supplier Development Council .......18

TG Design ....................................................................33

Hughes & Cruise............................................. Back Cover

T & M Healthcare Services, Inc ......................................22

Keystone Resources .................................................... 39

VIP Orbit .......................................................................29

Looking Back at Our “Premier Issue” Launch Party

WBEA

(March 20th, 2012)..........................................................4

Westpark Communications ............... Inside Front Cover

Kay

...............................................................25

.......................................................................43

Main Street Chamber of Commerce .........................41

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Ms. Mogul™ and The Global Mogul® Center for Leadership presents Roar!® Women’s Leadership Summit 2013.

Local Community. Global Opportunity. Thursday, May 23 | 9 a.m. to 2:30 p.m. Houston Community College District Office 3100 Main Street Houston, TX 77002

Conference Host: Chairidee Smith Ms. Mogul™

Speaker Lisa N. Alexander Topic: Building a Successful Global Brand

Keynote Speaker Lioness Leadership™ Award Recipient Elizabeth A. Campbell

Speaker Tonya Hofman Topic: Garner a Global Audience with Speaking

Speaker Catherine Flowers Topic: Global Supply Chain Diversification

Speaker Nancy J. Li Topic: Global Team Building

Poetess Cloris LaRue Author of HERstory

Soloist Mary Loy The National Anthem

2013 ROAR!® HONOREES Beverly Denver, Founder of Houston Woman Magazine Roar’s® 2013 Legacy Lioness™ Award, Recipient

The Honorable Imelda Reyes-Castillo

Roar’s® 2013 Legacy Lioness™ Award, Recipient

Registration is $35 | Vendor Space Available Live streaming for T.E.E.M Members in Baltimore, MD. Visit the site for more info. www.SBTMagazine.net

www. TheChairideeSmith.com SMALL BUSINESS TODAY MAGAZINE APRIL 2013 | PG 1

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