NAWBO - In Business Magazine - October2011

Celebrating 25 years of serving the women business owners of Phoenix.

Fall 2011 • nawbophx.org

President’s Message About NAWBO

NAWBO® prides itself on being a global beacon for influence, ingenuity and action and is uniquely positioned to provide incisive commentary on issues of importance to women business owners.

NAWBO Phoenix propels women entrepreneurs into economic, social and political spheres of power.

Visit one of our FREE Welcome Meetings - For All New and Prospective Members.

They offer a casual, informational opportunity that both highlights the local and National benefits of NAWBO Membership. Plus, this is a great place to hear about the diversity in our benefits and determine if NAWBO is a fit for you and your business.

Please bring business cards too!

For more information, please visit NAWBOphx.org.

Phoenix Metropolitan Chapter of the National Association of Women Business Owners 4600 E. Washington Street, #300 Phoenix, AZ 85034 602-772-4985 info@NAWBOphx.org

This year is going to bring many opportunities for both myself and the NAWBO Phoenix membership. I am looking forward to “Building our Future through Experience.” This years’ theme is focused on bringing in more experienced and established members to help support and educate our members that are in the growth stage.

I am excited to have such a great team of women to work with on the board and help lead us through this challenging economy. We wouldn’t be able to do that if it wasn’t for our support from Corporate Sponsorship. They are the lifeline of this organization.

In September, ten women from our Phoenix chapter attended the NAWBO National conference in San Diego. And yes, as I write this letter from the event, I am sitting outside in 75 degree weather. By the time you read it the Arizona weather will hopefully be out of the 100 degree range. That itself is motivating.

At this conference we learned several new ideas from sister chapters across the country and also gained insight from the wonderful speakers to adapt into our daily lives and businesses.

Some of those speakers included Gail Blake on her book “Throw Out Fifty Things – Clean the Clutter, Find your Life” and an inspirational story from Lisa Price on how she started her company, Carol’s Daughter and grew it from $100 to $50 million.

The other message that we are bringing back is that NAWBO National is making a few changes that will help our membership in years to come. They announced the new leadership, including a new President/CEO, and also moving the headquarters back to DC. This will help us to be more Kristine Kassel connected to the pulse of small business in America.

President, NAWBO Phoenix Thanks again for the opportunity to serve our membership this year and for In Business Magazine for allowing us to reach out to a larger community. NAWBO Phoenix will be the place this year to help “Build our Future through Experience.”

For more information please visit www.nawbophx.org.

Kindest Regards, Kristine Kassel NAWBO Phoenix Chapter President 2011-2012

This issue Page 2

How healthy is your organization? Four Decisions ™ to Drive Business Growth

Page 4

How to choose the RIGHT accountant for your Business

Page 7

Keep Cost Under Control…

Try Outsourcing and more...

Phoenix Board Members at National NAWBO Conference in San Diego.

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How healthy is your organization?

Four Decisions™ to Drive Business Growth

By Sandy Kolberg Three common problems all business owners face are how to grow their business, how to scale it and how to make it sustainable. This article is the first of a series on strategy and execution. Sandy Kolberg, Ph.D. is certified Gazelles International Coach who works with companies to create sustainable growth for business clients.

Sandy Kolberg How healthy is your organization and what are you doing to make your business grow? After speaking with thought leaders and reading best practices books what appears to encompass the whole of business growth were the principles of the Four Decisions™. The concept comes from Verne Harnish’s work, Mastering the Rockefeller Habits and is a set of interlocking principles that drive growth. They are: People, Strategy, Execution and Cash.

People: In some capacity all businesses rely on people.

They include the employees of the company, the customers or clients they serve and the shareholders of the business. Separately and collectively they create the harmony and flow of the business. Getting the right mix of people with the skills needed for the organization is always a challenge.

When the right people are in the right seats doing the right jobs, the culture of the organization is solid and the business will run smoothly. Knowing where the sweet spot is for the product and services is the place where business growth happens easily. If the customers or clients of the company are satisfied with the products and services the employees provide, the customers buy the products and services more often and refer the company more often. If the employees are doing their jobs and clients are satisfied purchasers of products and services, shareholders see the profitability and growth of the company and all are happy. While this seems a little simplistic, it doesn’t happen without the next principle, Strategy.

Strategy: Companies may have the best products or provide the best services, but without a vision and a plan, there is no growth. Strategy provides the direction the company will take over time to expand and drive profitability. Strategy revolves around the foundational elements of the business; the core values, its purpose for being and the vision the owners have for the future. It involves a positioning of its products and services to a specific group of consumers. Business leaders and their teams meet at least annually to look at the business climate and decide the direction to take the business. They decide who is going to do what by when, what they will promise to accomplish for their work, and how they will deliver it to their clients. It is the vision of the future broken down into initiatives and

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driven by the critical numbers that it will take for that growth to occur. A business leader can have the best strategy and without execution of the plan, it will not grow.

Execution: The best made plans do not happen without the interlocking mechanism of people with the strategy.

What makes the difference between business growth and not is a combination of economic factors and the ability for people to execute on the strategy. What that takes are habits, discipline and processes. What the current economic situation has made very clear is the businesses that are run with efficiency and strong business systems and processes will weather change easier than those run reactively. Activities that are measured and tracked are accomplished. It is often the difference between a reactive and proactive culture. The reactive leader sees each new business trend as the savior that will make the business run smoother and grow. The proactive leader, who sets the vision, develops the strategy and then executes on that strategy sets a constant path for people development and business growth. The result is a culture of accountability where people know what they are supposed to do, how it is supposed to be done and what the expected outcomes will be. By measuring and tracking, the business stays on track, makes money and is profitable.

Cash: Some companies in some business climates make money regardless of how well they are run. That may have been true in the economic bubble and is certainly the exception in today’s business climate. Cash is the oxygen that allows the company to run. Cash flow allows for choices and without a steady inflow of cash the company will gasp and fail. It is cash reserve that makes for expansion and growth.

When taken individually each of the principles: people, strategy, execution and cash stand alone as good business practices. A focus on any one of them will create a tighter more harmonious business. Together they interlock to create a business poised for growth and sustainability no matter what is going on in the economy.

Putting a growth plan in place can be a big task, which is made easier when a business coach comes alongside the business owner to develop the plan and execute it. If you are curious about how well your company has developed these four crucial decisions, you and up to nine other members of your organization can take the Four Decisions Assessment through the author’s website. Visit: www.strategems-llc.com for your free assessment or come to the Mastering the Rockefeller Habits Four Decisions workshop on Thursday, November 17th and experience the process first hand REGISTER AT: http:// mrhphoenixworkshop.eventbrite.com.

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NAWBO’s six month Mentoring Program pairs established women business owners with those less experienced and has earned national recognition for both the structure and results. The program launches in November and NAWBO seeks both mentees and mentors. To provide insight to prospective participants we interviewed a long time mentor and a recent graduate.

MENTEE SHARLIE MCRANEY

As a new member, I was encouraged to join the Mentoring Program. With 30 years in management and responsibility for international business units, I knew how to create and execute business plans and grow businesses. How would this program help me?

I decided the Mentoring Program would introduce me to new people and help me build relationships.

Sharlie McRaney After listening to my experience, the mentoring director asked, “What do you want from this program and your Mentor?”

While I was not sure what I wanted from the program, I knew I needed a mentor who could withstand my strong personality and help me grow my business.

Mentor Pamela Smith did not allow me to steamroll over the program, but redefined it to satisfy my needs as they emerged. Within this framework, I discovered that while I considered myself an entrepreuer, there was a difference in having an entrepreuerial approach within a large corporatation compared to being a small business owner.

Focusing on this aspect allowed me freedom to explore and evaluate my business and most importantly, to increase profit.

My 2010 profit goal was exceeded by 154%.

Sharlie McRaney can be reached at sharlie@tighinteriors.com

MENTOR PAMELA SMITH

I have been mentoring business owners for more than five years. When I was in a mentoring program in 2006 it helped my business but it also helped me realize that I could give back to the community my business expertise and desire to volunteer via mentoring other businesses Monday through Friday while working.

Pamela Smith I have been honored to help women improve their businesses, attain goals, understand financial statements and connect them with others to further with their business growth. Most importantly I have developed deep-rooted professional and personal relationships that have outlasted any formal mentoring program.

I’m entering my sixth year of mentoring and I am serving as the Mentoring Director for NAWBO this year. I am grateful for the opportunity to help other professionals with their businesses.

NAWBO’s mentoring program is not just for start-ups. For more information on NAWBO’s program or to submit an application, visit nawbophx.org.

Pamela Smith can be reached at psmith@numbersetc.biz

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Human Resource Strategies

By Ginny McMinn McMinnHR

When thinking strategically about your business, include Human Resources in your plans.

Ginny McMinn Unplanned, inconsistent HR moves create staffing headaches, workplace issues, perhaps even legal troubles. To avoid these problems, set up basic HR systems based on job requirements and consistent actions.

Consider your business and the support it needs. If that includes employees, contractors, business services, temporaries or virtual assistants, some of the same principles apply to the process of hiring (or engaging) your support team: • Monitor workflow and your project pipeline, work backlog and deadlines, customer satisfaction, work hours for you and your current team, and other indicators that help is needed.

• If additional support is required, is the need consistent and long-lasting, or project-based and potentially short-lived?

• What results will you expect from the person or service?

• What skills and experience will be needed to get those results?

• How will you attract, select and engage the person with those skills?

Don’t add a team member without deciding the requirements; insist that the individual has the skills. Don’t hire whoever is convenient. Hire the person or service that will provide high-quality, timely results.

In a similar way, think about each employee- or support-related function. HR systems to consider include orientation and training; pay and benefits (or service budget), amount and manner of payment; expectations and performance or project management; policies, procedures, handbooks or contract specifics; communication, workplace culture, vendor relationships; and if employees rather than services, remember legal compliance, safety and security.

Preview the life cycle of the employee or service provider; make sure that each step along the way is systematic and serves your overall business strategies.

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NAWBO Board of Directors Executive Committee

Board of Directors

President Kristine Kassel Benefits By Design

Director of Communications Shawn Vallee Think Fresh Advertising

President-Elect (Bylaws Chair) Lynda Bishop Summit Alliance Solutions, LLC

Director of Corporate & Economic Development Amy Bruske Kolbe Corp

Secretary Marnee Weber The Caregiving Coach Finance Director Barbara Appenzeller Appenzeller & Associate, CPAs, P.C appenzeller@barbcpa.com Immediate Past President (Past President Chair) Cindy Hynes Hynes Benefits Consulting, LLC Executive Director NAWBO Office Deanna Anderson Organized Management Solutions, LLC

Directory of Marketing Services Nancy Sanders Three Dog Marketing Director of Membership Services Peggy Ridgley European Touch Interiors Director of Media Relations Lisa Bhella INBOX2OUTBOX, LLC Director of Programs Susan Ratliff Susan Ratliff Presents Inc. Director of Public Policy Ginger Lamb Arizona Capitol Times Ambassador Chair Cheryl Skummer Meridian Payment Systems Awards Chair Sandy Kolberg Strategems

Community Alliances/Diversity Chair Shelly Winson True Choice Benefits LLC Community Service Chair (ex-officio) Ginny McMinn McMinnHR Honorary Advisory Council/Past Presidents Council Chair (exofficio) Robin Orchard Orchard Medical Consulting Mentor Program Chair Pamela Smith NUMBERS etc Neighborhood NAWBO’s Chair Connie Zimmerlich ClickChick Photography NAWBO University Chair Dorothy Wolden Creative Intuition Membership Retention Chair Colleen O’Shaughnessy Met Life Red Affair Chair (ex-officio) Erin Finn Wines for Humanity Women’s Enterprise Foundation (ex-officio) Jackie Wzsalek Despins Printing & Graphics

The Women’s Enterprise Foundation WEF is a 501(c)3 charitable organization that supports and inspires emerging women business owners within the greater Phoenix area who have a demonstrated business development need or who would benefit from specialized educational training and development opportunities.

To learn more or to make a donation visit www.WEFPHX.org

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Strategy – Find Your Sandbox Every business - small or Fortune 500 - makes four decisions every day about people, strategy, execution and cash, according to Mastering the Rockefeller Habits by Verne Harnish.

All of these choices are Nancy Sanders important, but the most critical decision for you as a marketer involves your sandbox - where should your business play? Too few organizations are proactive about creating and executing a marketing strategy. Answering two questions will help you create and implement your plan.

Who do you want in your sandbox?

Please don’t say everyone or Fortune 500 firms. Your target market should be as narrow as possible. Your target market may be Arizona companies with revenue of $2 – 10 million dollars a year, that are growing at least five percent annually. You may define your market by product or service lines, demographic or distribution channels. Does that mean all your customers fit that profile? Maybe not; but this is the group of prospects

By Nancy Sanders

that you focus your marketing efforts and budget to attract. This is your sandbox.

What is your unique value?

Why do people buy from you? Harnish calls this your brand promise - the measurable outcome that your customers receive from working with you. This quantifiable result is why your clients do business with you instead of your competitors.

Once you determine why people buy from you, you can create compelling marketing messages and collateral that both builds your unique brand and provides a persuasive argument for doing business with you and your firm.

Creating your marketing strategy clearly requires more direction than this short article can provide but by answering these two questions, you’ll be on your way to developing a successful and productive marketing strategy for your company.

About the author: Nancy Sanders is an award-winning marketing expert, author and founder of Three Dog Marketing, a communications, marketing and sales firm. Nancy is committed to building strong relationships, creating value and producing results. Contact her at www.ThreeDogMarketing.com or 602.476.4509.

NAWBO Phoenix is on the move!

NAWBO Phoenix Metro Chapter celebrates 25 years of serving as the voice and vision of the women business owners of Phoenix. Recognized by Arizona Woman Magazine as The number 1 place to network in the Valley and by The Business Journal as one of the top 5 influential organizations in the Valley, NAWBO Phoenix is on the move.

Be part of the movement. Visit our web site today for membership information.

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October 12 Luncheon 10:45 AM - 01:00 PM

Tips on Executing Goals and Plans

By Lynda Bishop

“Dream Big, Plan Well, Take Action.”

This is the mantra of many business coaches and successful business owners. It is good advice and has taken many people to Lynda Bishop the finish line. Most business start with a big dream. Next comes the strategic plan and then plan execution (action).

It is important to distinguish between strategic planning (high-level agreements) and execution (ongoing process for taking action, reviewing and maintaining progress).

Following are four tips for being in productive action while avoiding common barriers to successful plan execution.

1. Be clear in your underlying strategy and make sure to communicate this clearly to everyone on

your team. Be sure everyone on your team shares the same vision and overall direction. Know why you are doing the things you are doing and what results each of your actions should produce.

2.

Make sure there is accountability built into your action plans. Set deadlines, minimum achievements, and who is ultimately accountable for each step. Review often along the way.

3. Dreaming big is good, but make sure your goals are realistic. Optimism is good, but make sure there is a solid structure around your plan and don’t count on luck for things to work out. Define your priorities until you are clear on what you must have versus what is nice to have versus what you can do without.

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Be flexible when circumstances outside of your control change. Let your plans and actions be dynamic, and your vision clear.

See you at the top!

NAWBO's Public Policy Day:

Meet Women Policy Makers Who are Shaping the Future Find out why some of our legislative and statewide women leaders in public policy wanted to run for office, how and why business leaders can make a difference at the Capitol, the current state of the budget, what's ahead and much more.

Confirmed panelists include: Senator Olivia Cajero-Bedford, Representative Karen Fann and Kimberly Yee, Commissioner Brenda Burns and Eileen Klein, Deputy Chief of Staff at Governor's Office.

For more information about our October 12 or November 9 luncheons, Please visit: Nawbophx.org

Budgeting and Saving Tips that will Prepare Women for the Future

By Deborah Bateman and Stephanie Poure

I’m a firm believer in empowering women to achieve financial success; one of the first steps is to know how to manage your income and properly save.

There are many free resources available to help budget, reduce debt and create a savings plan. Here are my five smart tips to successfully save money: • Create a Budget. Develop an easy-to-follow Deborah Bateman plan. First, review your net income, the money you have available after taxes. Next, know your expenses.

• Plan to Save. Instead of having one savings account, try opening several accounts and categorize them (ie. retirement, vacation, Christmas, college, etc.) Use direct deposit through your employer; this allows you to have a specific dollar amount or percentage of each Stephanie Poure check deposited directly into a savings account.

• Know your Credit Score. Make sure your credit score is accurate. It can determine what you pay for auto financing and leasing, credit cards,

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mortgages and insurance. Review your credit report regularly and check for errors. Limit the number of credit cards you open and most importantly, pay your bills on time.

• Cut Credit Card Debt. Stop using credit cards to prevent incurring additional debt. Review your credit card balances and make the minimum payment on every card each month. Additional money should go toward paying off the card with the highest interest rate.

• Utilize Online Banking. Online banking allows the luxury of having access to your accounts 24 hours a day. Setup automatic bill pay through online accounts to ensure that you won’t incur penalties for a missed or late payment.

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NAWBO PHOENIX Corporate Partners Presidential Corporate Partners National Bank of Arizona Salt River Project State Farm Insurance Strategic Corporate Partner National Bank of Arizona Media88 Executive Corporate Partners Benefits by Design Hynes Benefits Consulting Kolbe Corp Southwest Gas Snell & Wilmer, LLP University of Phoenix Wal-Mart The New Well Business Corporate Partners Arizona Public Service Border States Electric Bank of Arizona Clean N Fresh Carpet Cleaning Estate Plan Store Orchard Medical Consulting Paychex Price Kong, CPA The Car Source Wells Fargo Presidential Media Partners KFNX News-Talk Radio 1100 Strategic Media Partners Creative Intuition NetworkingPhoenix.com Executive Media Partner AZ Capitol Times Despins Printing and Graphics Easel Photography InBusiness Magazine CITY Sun Times KFNN 1510am Newsradio Media 88

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Attention: Bowlers, Non Bowlers, Fun Seekers, Nawbo Members and supporters From: Your favorite 501(c) 3 WEF Dust off your shoes, starch your shirt and get your bowling form ready to strike it rich for Women’s Enterprise Foundation….

We need your help to fund scholarships, grants and mentoring programs for emerging women business owners. “I am truly grateful because this has given me a chance to grow both individually and professionally.” Jill Workman – Wicked Wicker LLC , Scholarship winner – see the website for even more testimonials from recipients! $225 sponsors a team - includes food, soft drinks, 2 hours of unlimited bowling, shoe rental, and (5) raffle tickets for each bowler (up to 5 people) • Be a Team captain and form a team– Gather friends, family (kids welcome) or co-workers to have a great time!

Challenge another team to a friendly competition.

• Sponsor a team - We will get bowlers for you. You can cheer them on or stay in the comfort of your home! $50 sponsors an individual - includes food, soft drinks, 2 hours of unlimited bowling , shoe rental and (5) raffle tickets and the opportunity to make new friends on a team that needs you!! $$$$ any amount can be pledged to any WEF board member, team captain or single bowler… pledge any amount to help fund this most important mission.

Raffle prizes, Awards and Surprises Galore!!! Don’t miss this great event that will knock off your bowling shoes!!

Sign up with any WEF Board Member or make your pledge at www.wefphx.org – Call Jackie at 602-810-4005 if you have questions.

Let it Roll Bowling Lanes

8925 N. 12th Street, Phoenix, 85020 Sunday, November 6, 2011 12:30 Registration 1-3 p.m. Let it Roll Bowling 3:30 Awards

Get social with NAWBO Phoenix It’s a great way to stay informed on everything NAWBO Phoenix and expand your online network.

And don’t forget once you’re there to make a recommendation to let everyone else know how great it is to be a NAWBO Phoenix Member.