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volume 17 | issue 3

B2B OMAHA MAGAZINE

executive editor

DOUG MEIGS publisher

TODD LEMKE

managing editor B2B, Family Guide,

vice president

special projects

GREG BRUNS

DAISY HUTZELL-RODMAN

executive vice president

managing editor

sales & marketing

Encounter

GIL COHEN

ERIC STOAKES

senior sales executive

editor-at-large

GWEN LEMKE

TARA SPENCER

branding specialists

editorial assistant

KYLE FISHER MARY HIATT GEORGE IDELMAN JOSHUA PETERSON

LINDSAY WILSON

assistant to the publisher

editorial interns

MARGARET DAVENPORT BLAIR EMSICK CALLIE OLSON

SANDY MATSON creative director senior sales assistant

BILL SITZMANN

ALICIA HOLLINS art director account assistants

MATTHEW WIECZOREK

DAWN DENNIS SHERRY LORENCE STACY TILLS

senior graphic designer

operations

graphic designer

TYLER LEMKE

MADY BESCH

accounting

contributors

HOLLEY GARCIA-CRUZ

KEITH BACKSEN ANTHONY FLOTT JASON FOX ROBERT FRAASS GREG JERRETT KIRBY KAUFMAN BEVERLY KRACHER LISA LUKECART SEAN MCCARTHY PATRICK MCGEE SEAN ROBINSON KARL SCHAPHORST DOUG SCHURING JAMES VNUK LAUREN WEIVODA

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KATY ANDERSON ARIEL FRIED SARAH LEMKE KEITH BINDER SCOTT DRICKEY

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TABLE OF CONTENTS COVER

30

THE CENTENNIALS

HOW OMAHA COMPANIES STAY RELEVANT AFTER 100 YEARS

FEATURES

16

PLANTING TECH TALENT The 2020 Growth Initiative

22

BUSINESS IN INDIA

Elephants and Opportunities

DEPARTMENTS

06 AFTER HOURS 08 IN THE OFFICE 12 HOW I ROLL House of Trains

Universal Information Services Capt. Steve Hosch’s River City Star

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TAKING STAKES IN SHARES Activist Investing

SPECIAL SECTIONS

29 OMAHA! 66 LEADERS 70 BIZ + GIVING 76 ON THE RISE Michael Stageman

34

LEGACY ISSUE PROFILES Sponsored Content

Omaha Steaks

Salvation Army

1 1 9 T R E E S have been reforested due to the printing of this publication. More information at printreleaf.com

Dan Hamilton

COLUMNS

05 FROM THE EDITOR 65 SALES INSIDER Omaha Legacies

Get Up off Your Knees

65 BRAND BRIEF 69 CORP. PSYCHOLOGY

The Importance of Being Less Earnest Don’t Leave Hiring Up to Chance

69 OFFICE FURNITURE 80 OMAHA CVB

Open Offices—A Thing of the Past?

Omaha Tourism—A Legacy Business

80 ETHICS

Where do You Work? Everywhere!

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volume 17 | issue 3

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omahamagazine.com FALL 2017 |

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FROM THE EDITOR

BY DAISY HUTZELL-RODMAN

OMAHA LEGACIES Omaha is home to many long-standing companies.

One of the first two companies in Omaha that is still in existence, NP Dodge, was created in 1855.

Sean Robinson spoke with NP Dodge and two other companies for our cover story on centennial companies in Omaha.

One of Omaha’s most well-known legacies, Omaha Steaks, is celebrating their 100th anniversary this year. One family in Omaha is itself a legacy at Omaha Steaks—five members of Bob Bezousek’s clan have worked there during the past 47 years, along with several nieces and nephews.

Railroading has always been big in Omaha. Union Pacific Corp. began in 1862, and House of Trains began in 1936. Not familiar with the latter?

Three generations of the Mrsnys, over the past 80 years, have introduced model train sets to kids young and not-so-young at their family-owned hobby shop.

Another legacy in Omaha is its long-standing tradition of philanthropy. The Salvation Army began in Omaha in 1912. Its current leaders, Majors Greg and Lee Ann Thompson, have both been involved with the organization since they were youngsters—Greg, in fact, first came to the Salvation Army at one week old.

The city continues to evolve and attract new companies and new employees. High paid tech jobs are especially vital to growing the economy, and Greater Omaha Chamber and AIM Institute have collaborated on an initiative called Tech Talent Growth. This initiative strives to get 20,000 tech workers in place by 2020. While that seems like a huge number of employees, consider that Omaha already had more than 15,000 tech employees by 2015.

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Daisy Hutzell-Rodman is the managing editor of B2B, a publication of Omaha Magazine LTD. She can be reached at daisy@omahamagazine.com.

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B2B OMAHA MAGAZINE

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AFTER HOURS | BY ROBERT FRAASS | PHOTOGRAPHY BY BILL SITZMANN

HOUSE OF TRAINS ROLLING DOWN THE TRACKS FOR 80-PLUS YEARS

David Mrsny

volume 17 | issue 3

omahamagazine.com FALL 2017 |

David Mrsny can show customers how model trains have changed since his grandfather opened the family’s sales and service shop 81 years ago with a three-part answer pulled from storage: First, there is a clunky metal 1930s-era model train caboose, with rudimentary windows and few other details. Second comes a train car kit from 1940 (in the original box), comprised of wood and metal bits that require complete assembly.

He contrasted these ancient pieces with a modernday N-scale engine car—a three-inch long piece of mechanical wizardry complete with sounds and tiny details, including impossibly small blades in the roof ’s air vents. No assembly required.

Like the trains t hemselves, t he model train business and its technology has changed dramatically t hroughout t he decades at the House of Trains, a Benson neighborhood fixture since Leonard and Verna Mrsny moved their shop from east Omaha to 81st and Maple streets in 1952.

The clientele is diverse, but a common thread is older men with extra time and disposable income who remember when model train sets were the hobby of their youth.

House of Trains customer George Sinos remembers those days well.

“I’m in my 60s, and growing up in the '50 and '60s, a model train was like the Xbox of today,“ says Sinos, who retired after a long career at OPPD. “Model railroads were something you did as a kid, and then you get away from it. Then with more time and money, you drift back in.“

DAVID AND HIS FATHER, DICK MRSNY, BOUGHT THE SHOP FROM GRANDPA LEONARD IN 1989. TODAY, DAVID AND HIS WIFE, MARCI, KEEP THE TRAINS RUNNING FOR HUNDREDS OF MODEL TRAIN HOBBYISTS.

David and his father, Dick Mrsny, bought the shop from grandpa Leonard in 1989. Today, David and his wife, Marci, keep the trains running for hundreds of model train hobbyists. Dick also runs Omaha Stamp Co. next door, another longrunning family enterprise.

Operating a hobby store, David says, has been transformed by technology where parts and advice can be sought online, and in a culture where iPads and other electronic toys have replaced traditional hobby pursuits.

“Being able to help people has helped keep it going, especially in the last five years,“ says David, who also repairs unique items such as music boxes and electronic Christmas ornaments to boost his revenue. “I like being able to help people enjoy the hobby. [Because it is] altruistic…you can make a living doing that,“ David explains with a laugh.

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When Sinos re-caught the model train bug in 2013, he turned to David, who gave him pointers about the hobby and helped him build his setup.

Sinos finds pleasure in newfangled digital control systems and the electronics behind how the trains work. Others, David says, like the pre-made setups that came on the scene more than a decade ago. Some like the assembly, which today is less about constructing trains and more about putting together the parts to create a train environment, including buildings and even whole cities.

Marci sums up the appeal of modern-day model railroading by stating, “We’ve had a lot of people tell us that they can shut themselves off from work and it’s like their own little world. They can do what they want and can make the hobby as hectic or as relaxing as they want it to be.“ Visit houseoftrains.net for more information.

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B2B OMAHA MAGAZINE

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IN THE OFFICE | BY LISA LUKECART | PHOTOGRAPHY BY SCOT DIRCKEY

PRESERVING NEWS HISTORY WITH RAZOR BLADES AND COMPUTERS UNIVERSAL INFORMATION SERVICES

“UNLESS OUR HISTORY IS PRESERVED, WE MAY FIND OURSELVES VICTIMS TO THE COMING DIGITAL DARK AGE. WE MUST BE ABLE TO ACCESS OUR PAST SO WE CAN CONTINUE TO IMPROVE THE FUTURE.” -DR. LEE SIMMONS

Todd Murphy

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Free beer Friday. Employees at Universal Information Services can indulge in a cold brew at the stroke of 4 p.m. at the office (although some have acknowledged to sipping on suds a half hour earlier).

“Cookies in the break room,” one employee whispers as she slips past with her treat.

Vice president Todd Murphy believes beer and food are universally accepted. It’s one way Todd invests the time to get to know each employee.

Just this week, someone was awarded the “9 a.m. employee of the hour.” His father, president Jim Murphy, took a photo with her in front of the flag.

It seems like a small gesture, but Todd believes these are what make people work harder.

“We have bosses who care,” P.R. measurement director Austin Gaule says.

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“It’s the little simple things that add up over the course of 109 years,” Todd believes.

Todd’s father Jim, a former brigadier general in the National Guard, learned how to empower people to their highest degree while in the military.

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Whether it is helping someone after their mother dies, buying a favorite record, or ensuring good coffee is available, this personal touch is invaluable to the Murphys’ corporate plan.

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“Not only did it help them improve, but it made me look good,” he jokes.

Yet, when all the work is set aside, one feeling resonates in this tight-knit office space—family.

It was an idea that started in 1908 when Katherine Allen created the company. With a slide of a razor blade, Allen would send state legislators clippings from newspaper articles about themselves or their competitors. Jim worked side by side with her for nearly a decade in a time when women were typically wives and mothers. Allen was a “progressive, smart individual,” but Jim took the company to innovative levels as the world changed.

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Jim originally worked part-time in Washington, D.C., as a press aide, meeting such presidents as Lyndon B. Johnson and Richard Nixon. It did not appeal to him—he was not fond of the politicians, lobbyists, and traffic. He put his finger on middle America, and it landed on Omaha. He didn’t know a soul. He entered the National Guard and met “5,000 instant friends.” Jim purchased the Universal Press Clipping Bureau in 1959.

Jim took the motto of Winston Churchill to heart, “We must take change by the hand or, rest assuredly, change will take us by the throat.”

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“I like to be up for a challenge,” Jim says.

He called Todd, then 13 years old, and asked him what he should buy at Nebraska Furniture Mart.

Jim bought VCRs and had Todd set them up in his own bedroom with cords running haphazardly through the house so they could index and record broadcasts.

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He developed construction reports for prospective clients. It is an ideal way for architects or engineers to learn about projects long before there is an official request from a proposal. And when Jim received a call from a senator’s office to cover television news channels, it was time to take technology to new heights.

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The company name has since changed, along with technology, and it is a data information landmine. Todd, who once wanted to become a cinematographer in Hollywood, realized the need to hire knowledge workers who could absorb data.

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Leasha Benolken The data collectors have consequently become a dominant part of the office space. A room full of black servers track information clients want into databases across 16 states, from Nebraska to Alaska.

The company pings 165 radio stations across the United States and Canada. Televisions are tuned into the latest scandals. Monica Lewinsky used the company to discover what was printed about her after news broke of her relationship with thenPresident Bill Clinton. Dr. Phil uses the service differently, mainly wanting to know if his program has good service.

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And yet, a nod to the nostalgic age of print still resonates. The “Reading Room” is filled with newspapers, many of which make their way to another room to be clipped and scanned by hand.

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In the digital preservation room, the old VHS and media equipment offer a tribute to history.

Whether it is footage of Casey the gorilla being flown into the Omaha Zoo or huge bindings of newspapers, Jim hopes to clean, restore, and digitize the moments by using some of the aging monitors and sound systems.

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Dr. Lee Simmons, chairman of the Omaha Zoo Foundation, echoes this on Universal’s website.

“Unless our history is preserved, we may find ourselves victims to the coming digital dark age,” he says. “We must be able to access our past so we can continue to improve the future.”

Visit universal-info.com for more information.

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B2B OMAHA MAGAZINE

volume 17 | issue 3

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HOW I ROLL | BY ROBERT FRAASS | PHOTOGRAPHY BY BILL SITZMANN

ROLLING ALONG THE BIG MUDDY CAPT. STEVE HOSCH’S RIVER CITY STAR

Capt. Steve Hosch

omahamagazine.com FALL 2017 |

Steve Hosch’s love for sailing was forged in Washington, where he taught sailing classes and wiled away memorable days with his wife, children, and friends, gliding his sailboat across gorgeous Puget Sound.

What’s a captain to do when he moves back home to landlocked Nebraska?

The answer lay, in part, on landing a position as a riverboat captain on Omaha’s own stretch of the Missouri River.

Hosch was on the Big Muddy again this year, his ninth as a captain for the River City Star, which docks at Miller’s Landing Rivers Edge Park. The season ends Oct. 17.

After the Fremont native and his wife returned to Nebraska 13 years ago, he found himself “bellyaching” to her about his ocean-less predicament. He satisfied his sailing passion with summer trips to Seattle, where he taught sailing on Puget’s Gig Harbor. His daughter tipped him off about the part-time job aboard the River City Star.

“When I got done with the interview, I asked, ‘How many people are you talking to, by chance, about this job?” Hosch recalls.

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“You’re the only one,” said the former owner, noting that Nebraska is not exactly a hotbed of licensed boat-captain talent.

Now with years of experience, Hosch has built a reputation as a captain who skillfully guides the 65-foot River City Star over a stretch that can extend upstream north past the old Chicago and Illinois Central railroad bridge and south past TD Ameritrade Park.

CONT. PAGE 15

As voted by B2B readers

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B2B OMAHA MAGAZINE

volume 17 | issue 3

“IT’S A DANGEROUS RIVER, I GIVE IT ALL OF THE RESPECT THAT IT DESERVES. IT CHANGES IN HEIGHT AND DEPTH QUICKLY. THE RIVER IS NARROW AND FAST-FLOWING. THERE ARE THINGS UNDER THE WATER THAT PEOPLE DON’T KNOW ABOUT.” -STEVE HOSCH

omahamagazine.com FALL 2017 |

FROM PAGE 13 “He’s an amazing riverboat captain,” says Tami Bader, director of the River City Star. “He’s calm but in charge with passengers. He lets the kids drive and honk the horn. On public cruises, he talks about all the sites along the river and the explorations of Lewis and Clark.”

River City Star events include public sightseeing, lunch and dinner cruises, and party cruises for adults. Bader says there are also plenty of private and corporate charters for anniversaries, weddings, and birthdays, as well as on-shore events at Miller’s Landing.

Hosch’s job might sound leisurely, but he’s quick to point out his work is a day on an unpredictable river, not a day at the park.

“It’s a dangerous river,” Hosch says. “I give it all of the respect that it deserves. It changes in height and depth quickly. The river is narrow and fastflowing. There are things under the water that people don’t know about.”

But Hosch characterizes the dangers as challenges, and says the memories he creates for clients is a true pleasure.

And there are other ways Hosch pursues his boating passion.

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Locally, he races his sailboat on Lake Manawa and teaches sailing on Lake Cunningham. More exotically, Hosch and some buddies race boats in the Caribbean and Florida. Trips to Seattle and San Diego also provide the freedom and challenge he seeks on the water.

“I don’t know what it is, but friends of mine who have sailed for many years have said there is something that gets in your system,” he says.

“And getting paid to do something you love?

You can’t beat it.”

Visit rivercitystar.com for more information.

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volume 17 | issue 3

B2B OMAHA MAGAZINE

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FEATURE | BY KIRBY KAUFMAN | PHOTOGRAPHY BY BILL SITZMANN

PLANTING TECH TALENT THE 2020 GROWTH INITIATIVE

“I REALLY ENJOY A SLOWER PACE, OWNING A HOME, AND HAVING A 15-MINUTE COMMUTE. EVERYONE IS REALLY GENUINE AND AUTHENTIC HERE, WHICH IS DIFFERENT THAN SOME OF THE LARGER MARKETS.” -HOLLY BENSON

Nicole Shobanjo is an information technology student who could be forced to move away from Omaha after she earns her computer programming degree from Metropolitan Community College.

The 38-year-old—a stay-at-home mom who operates an in-house day care business when she’s not studying—says there is a lack of IT-based careers in the greater Omaha metro.

“I don’t want to have to [go to] school here and then leave,” she says. “I feel like the market is locked down.”

Shobanjo says Metro provides opportunities for IT students with assistance in securing internships and possible jobs after graduation. She also says they pair students with tutors, counselors, and advisers. With her busy schedule, she says those resources help—especially on days when landing her dream job in Omaha feels unlikely.

However, a future tech career for Shobanjo and other hopefuls in the Omaha area is looking brighter because of an initiative called Tech Talent Growth. The long-term plan, spearheaded by the Greater Omaha Chamber and AIM Institute, calls for the metro to have at least 20,000 tech workers by 2020. AIM is a nonprofit that dedicates

omahamagazine.com FALL 2017 |

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Holly Benson

resources to the metro’s local tech talent through career development and educational programs.

Tech Talent Growth wants to take 500 workers from non-IT jobs and plant them into the tech industry. They want to create a population shift, moving 1,250 people from cities outside of the Omaha metro and bringing them here. According to their statistics, 2,500 tech graduates also should flow into the metro population. Keeping them here is the real challenge, says Holly Benson, tech talent manager at the chamber and AIM. In 2015, there were about 15,700 tech jobs in the Omaha metro. Organization officials say the

addition of these 4,250 jobs during the next five years could boost the Omaha metro’s economy by $1 billion.

Benson says one of the major challenges to bringing that many skilled workers to Omaha will be making the city more appealing to big name tech companies and a future workforce. With the help of area colleges, businesses, and community leaders, she says it’s a realistic goal.

Benson, who moved from Northern California to Omaha, says the city is already making great progress in providing desirable quality-of-life offerings for up-and-coming tech talent.

“Part of this project is bringing visibility to Omaha,” Benson says of the city’s future as a tech hub.

“There’s a lot of opportunities at people’s fingertips.

They just don’t know where to look.”

She adds Omaha doesn’t feel “saturated,” like larger cities. At her previous job, Benson commuted hours each day to work at Google.

CONT. PAGE 19

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volume 17 | issue 3

B2B OMAHA MAGAZINE

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“IT’S A COMMUNITY PROJECT,” BENSON SAYS. “WHAT WE’RE SEEING WITH THE SILICON PRAIRIE HAT IS THAT WE’RE NOT THE FIRST PLACE PEOPLE THINK OF WHEN IT COMES TO TECH.”

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FROM PAGE 17 “I really enjoy a slower pace, owning a home, and having a 15-minute commute,” she says. “Everyone is really genuine and authentic here, which is different than some of the larger markets.”

Tech Talent Growth poises to benefit local IT students such as Shobanjo, who’s already thought about moving to Dallas with her husband.

Shobanjo says he has struggled to find tech work in Omaha.

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It’s a simple formula—if Shobanjo can’t find IT work, her family will probably move. This is something Tech Talent Growth has acknowledged as an issue in the Omaha metro.

“There clearly is a gap in what the area is producing and the needs of the businesses,” Benson says. “I think the talent exists, but due to the demand, we need to [recruit] the tech talent.”

The group is addressing the issue with the mindset to “develop, attract, and retain talent” locally.

Part of it is working with existing partners to help provide summer programs, after-school opportunities, and weekend opportunities for youths interested in technology careers. In fact, Shobanjo is one of those people, who discovered a passion for the tech field at a young age. It started with building parts of computers and customizing hardware.

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volume 17 | issue 3

B2B OMAHA MAGAZINE

“THAT’S WHY IT’S INCREDIBLY IMPORTANT FOR US TO BE EDUCATING OUR YOUTH AT EVERY AGE,”” -HOLLY BENSON

FROM PAGE 19 “It has been in my heart since I was younger,” Shobanjo says.

Tech Talent Growth is teaming up with educational institutions, businesses, and the community to attract IT jobs with competitive salaries to ensure professional growth and attract new talent. Ideal progress would be increased enrollment in, and completion of, local university college programs.

The organization wants to create a scholarship for future students and establish a one-stop online shop for youth tech opportunities. They also want to be inclusive to minorities, women, veterans, and low-income students.

Tech Talent Growth is working with K-12 schools, the University of Nebraska-Omaha, Omaha Code School, and Iowa Western Community College to inform students about local opportunities.

“It’s a community project,” Benson says. “What we’re seeing with the Silicon Prairie hat is that we’re not the first place people think of when it comes to tech.”

While keeping an emphasis on local occupations, Tech Talent Growth will help create a stronger identity in the Midwest with IT-related opportunities in Omaha.

“That’s why it’s incredibly important for us to be educating our youth at every age,” Benson emphasizes.

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FEATURE | BY ANTHONY FLOTT | PHOTOGRAPHY BY ANTHONY FLOTT

GETTING DOWN TO BUSINESS IN INDIA ELEPHANTS AND OPPORTUNITIES

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volume 17 | issue 3

omahamagazine.com FALL 2017 |

Take a bus ride through the traffic-jammed, people-packed, animal-filled, and trash-cluttered streets of Delhi, and it won’t take long to realize that the way business is done in India is not exactly how it happens in Omaha.

Or anywhere else in the United States, for that matter.

That is one of the many lessons a group of University of Nebraska-Omaha students learned during a trip there in March. Day after day they witnessed vignettes of Indians at work that they never see back home: • A street vendor in a blood-stained shirt snatching live chickens from a cage, then butchering them for workers purchasing meat for dinner on their way home.

• A work elephant lumbering along the shoulder of a busy road, laden with bamboo logs.

• Men in fields making bricks by hand in small kilns.

• Families salvaging wood, metal, and other materials from half-built, but long-abandoned, buildings.

This was no party-filled spring break on the beach.

Rather, it was an exclusive opportunity to study the world’s fastest-growing economy of 1.3 billion people—two-thirds of them 35 and younger.

According to the World Bank, India’s GDP in 2015 was $2.1 trillion, an eightfold increase since 1991, when it loosened its economic policies, spurring private and foreign investment. Such growth helped drop the percentage of Indians living below the national poverty line from a mind-blowing 45 percent in 1993 to a (still staggering) 22 percent in 2011. In the United States, that number was 15.9 percent in 2011.

India right now is a major player in the world economy—and its financial clout is likely to increase.

23

It is critical, then, that U.S. companies understand the who, what, where, when, why, and how of business in India. That was the goal of the UNO students who traveled there as a capstone to their class, “Business & Social Action in India.” UNO Professor Patrick McNamara taught the class and led the trip, his 12th to that country since 1991. His class was a mix of undergraduate and graduate students, most from UNO’s College of Business Administration. A handful are employed at Omaha companies, including Lozier, Hudl, First National Bank of Omaha, and Northwest Bank, that stand to gain from what those students learned.

“While the time was limited, this did provide some important insights into the business culture, the complexities, and the opportunities of India,” McNamara says. “India is overwhelming— sensory overload, tensions, and kindness at every turn. To effectively do business in India, you have to be open to these paradoxes and not intimidated to dive in and fully immerse yourself in the culture.

The Indians will trust you more if you do.”

Prior to the trip students studied Indian politics, society, culture, and U.S.-India relations. The real learning, though, came almost immediately after landing at Indira Gandhi International Airport and arriving at their host site, the campus of the Institute of Management Technology (IMT) in Ghaziabad, one of India’s top business schools.

That began a whirlwind of lectures and Q&As with some of the country’s brightest business minds.

IMT faculty led the way, providing insights into Indian consumers, social values, human resources management systems, and “Making Sense of the Indian Workplace.”

Next came Siva Nagarajan, managing director for Mother Dairy Fruit & Vegetables, an India Fortune 500 company. Among the company’s innovations is providing milk dispensers at stores to which customers bring their own containers and fill only with what they need. The practice saves 4 tons of packaging materials each day.

CONT. PAGE 25

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Tips for Doing Business in India Conducting business in India?

Keep these tips in mind:

FROM PAGE 23 Nagarajan also gave a detailed overview of India’s corporate social responsibility government mandate requiring companies to spend 2 percent of their net profit on social development.

“Philanthropy is becoming the flavor of the day,” says Nagarajan, whose talk spurred much conversation within the UNO contingent.

UNO MBA student Andy Max, an asset/liability market risk manager at First National Bank of Omaha, says the mandate pushes companies to build on the foundation of India.

“I found it refreshing to see the pride they have for the sustainability of their country and how willing they are to invest in the future of India,” Max says.

The group also visited the home of B. K. Goswami, chairman of the Gupta Charitable Foundation and uncle to Vin Gupta, founder and former CEO of Omaha-based Infogroup. Later, at the U.S. Embassy’s American Center, First Secretary Matthew Asada provided insights into India’s demonetization of the 500 and 1,000 rupee notes, a possible first step toward a cashless society. India is attempting to demonetize 85 percent of their

currency and use a combination of two systems, one that uses a biometric database to show proof of identity and “India Stack,” a secure, digitized system that allows Indians to store and share personal data, including money.

Visits also were made to the corporate offices of Businessworld Magazine and Betaout, an analytics startup that provides e-commerce help for companies. Betaout founder and CEO Ankit Maheshwari spoke to the students inside a glass-walled meeting room. On the other side, most of the company’s nearly 80 workers typed away on laptops or held discussions in small pods throughout the cubicle-free office. Their average salary—$1,500 to $2,000 a month—is nothing near what similar IT workers would get in the U.S. ($5,000-$8,000), but at least they are working— given its “youth bulge,” India needs to create 1 million new jobs each month.

No matter where the UNO contingent went, hospitality was the order of the day with offers of tea, water, cookies, potato chips, donuts, and freshly made samosas.

CONT. PAGE 26

• Do give a handshake and a small bow when meeting someone.

• Do learn the eating etiquette of your destination in India. Don’t be surprised that many Indians eat with their hands in urban and rural settings. Also, don’t hesitate to request a spoon and fork when dining (if you are uncomfortable eating with your fingers).

• Don’t wear clothing that is too tight (women).

• Don’t give hugs or kisses.

• Do present a business card by holding it with both hands.

• Do consider downloading WhatsApp, a smartphone messaging app used by more than 65 million Indians, including most businessmen (the country topped 1 billion cell phone users in 2016).

25

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volume 17 | issue 3

B2B OMAHA MAGAZINE

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FROM PAGE 25 “The business meetings we experienced in India have a social-heavy aspect to them relative to the U.S.,” Max says. “Not only [in] the conversation but also the refreshments. Food and drink appeared in every business setting, and our hosts insisted we fill our plates.”

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UNO students also toured one of five orphanages run by Salaam Baalak Trust to help the nearly 400,000 children who live on Delhi streets.

Other business lessons came throughout the journey. Like how to haggle for anything and everything: a group lunch at a buffet restaurant; taxi fare; souvenirs; or help with bags at the airport.

While walking, Max also learned that if you are a street vendor, watch out for monkeys—having watched one swipe two juice boxes from a vendor, then run up a tree and guzzle them.

The monkey was just one of many reminders that India ain’t home. Much of Delhi has a postapocalyptic motif worthy of a Terminator film— throughout the city is building after building partially constructed but since abandoned; rusted rebar protrudes from the top of the last-completed concrete floor. The roads are a chiropractor’s dream, and traffic signals and rules are seemingly nonexistent. Rubbish-filled rivers reek. Several times the group passed what at first was mistaken for a mountain—the world’s largest landfill.

Roaming freely are lots of cattle and stray dogs, with more than a few rats.

There is also lots of optimism.

You could see that in the smiles and spirit of IMT students, who frequently engaged their UNO counterparts in lengthy conversations on far-ranging topics, including banking, government corruption, open markets, Pakistan, pop culture, and—perhaps their favorite topic— President Trump.

Delhi might not always be pretty, but business is getting done there and throughout India.

“I can’t wait to see how the fastest-growing global economy will impact the world over the next 10 years with their substantial talent pool,” Max says.

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omAha! | BY JAMES VNUK | PHOTOGRAPHY BY SARAH LEMKE

THINKING OUTSIDE THE BOX(ERS) MICHAEL STAGEMAN It is common to hear disappointment from those who failed to follow their childhood dreams.

However, we also don’t see too many firefighting, pro-basketball-playing astronauts roaming around.

Michael Stageman, Omaha-native lawyer and inventor-turned-entrepreneur, did not seem to get that memo. One part of Stageman's career that may not have been a childhood dream, however, is creating and owning Stageman Underwear.

“I saw a problem and decided to fix it,” he says.

“Your underwear should not enter your mind at all during the day.” Offered at $25 per pair, they are boxer-briefs with an added “pouch” to carry a man’s accoutrements—though Stageman isn’t much for euphemisms, either in his marketing or in person. “I had a real problem with chafing when I was trying to exercise or do anything athletic. Other solutions just weren’t ideal. Like, you’d throw powder all over your groin, walk the dog, then come home with enough starch to make muffins.” The product has been a rousing success, repeatedly selling out on Amazon and his online storefront.

Stageman designed the undergarment himself and used Kickstarter to begin his enterprise— starting with $500. Crowdsourcing has become an essential function of his business model, which he describes as niche. “I wouldn’t make something where I wasn’t the No. 1 customer,” he explains.

“Underwear is not my ‘thing’ in that sense—and I’ll be the first to admit they’re not for everyone.”

The sports-appropriate intimate item provides comfortable support, elasticity, and freedom, but may not be ideal for men without energetic lifestyles. “Some of the best reviews on Amazon are the negative ones,” he laughs.

And Stageman is certainly one to tout athleticism.

“I also do jujitsu and muay thai kickboxing,” he says. “There’s something really humbling about jujitsu, too. It’s good for your ego when you have to constantly ‘tap out.’” He mentioned his jaunts as an MMA announcer and an improv comedian.

“Comedy was actually my first business,” he jokes.

“When I was, like, 14, some friends and I tried to make prank phone call tapes and sell them, a la The Jerky Boys. We even made business cards. I still have mine, too.”

Even with all these interests, Stageman still hasn’t quit his day job practicing law for Douglas County. “I actually wasn’t going to get into law at first—through high school I was a musician, and I thought that was going to be my thing. But I got interested in the idea of practicing music law, and then that morphed into criminal defense. I fell in love with being in the courtroom,” he says.

“I like being there to help people who are scared and unsure what’s happening to them.”

It does not seem as though Stageman is the type to slow down. “I’m working on a better way to make sweet potato fries,” Stageman says of his next invention. “But I can’t say too much at this point.”

Visit stageman.com for more information.

B2B

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COVER FEATURE | BY SEAN ROBINSON | PHOTOGRAPHY BY BILL SITZMANN

THE CENTENNIALS HOW OMAHA COMPANIES STAY RELEVANT AFTER 100 YEARS

Martin Hager, vice president of agency services at Aradius, leads a group discussion.

volume 17 | issue 3

omahamagazine.com FALL 2017 |

Pop quiz: From the following options, which is the oldest? a) sliced bread, b) Betty White, c) NP Dodge Real Estate, or d) traffic signals? Time’s up.

Pencils down. Those who answered a, b, or d, sorry but those options are incorrect—do not pass go, do not collect $200. While NP Dodge’s founding in 1855 predates many marvels of the modern world, Omaha is actually home to more than 40 companies that have passed the centennial mark.

Gone are the cobblestone streets (save for a few in the Old Market) and telegrams of yesteryear, but these businesses are here to stay, serving as the base of a mid-sized, Midwestern metropolis thriving in the 21st century. This is made all the more impressive considering these companies have survived industry-changing technological advancements, social and economic shifts, a Great Depression, and a Great Recession. But Omaha’s oldest institutions aren't keeling over anytime soon if they have anything to say about it.

“We learned a long time ago that we’re completely tied to the health of this community,” says Nate Dodge, president of NP Dodge. “By doing everything we can to help Omaha grow and succeed, we ensure our longevity as well.”

Like many of the companies in Omaha’s century club, NP Dodge started from humble beginnings.

America’s longest-running, family-owned, fullservice real-estate company, NP Dodge was founded by two brothers, Grenville and Nathan Phillips Dodge, who left Massachusetts to homestead in Douglas County in 1853. The company was born from a tiny office in Council Bluffs, with the brothers surveying land in the metro area to determine where property boundaries began and ended.

Two centuries later, the company employs more than 500 real estate agents and has been led by five generations of Dodges. According to the current Dodge at the helm of this massive real-estate ship, keeping it all in the family is not what has helped them stay afloat for so many years.

“It all ties back to the customer and how we can support the community in time, talent, and treasure,” Dodge says. “I believe the company has

evolved and changed with the customer. [People] that work here focus on how we can best serve and exceed expectations in that given time.”

NP Dodge has evolved internally as well. It boasts an impressive number of women in leadership with 65 percent of all managerial roles belonging to women. Additionally, the company has continually made efforts to create transparency from top to bottom.

“I believe great ideas survive great debate, so we make leadership as accessible as it can be,” Dodge says.

Another company that stakes its success in their ability to be proactive, not reactive, is Aradius Group, formerly Omaha Print. Founded in 1858 as the publisher of a now defunct tabloid, The Nebraska Republican, the company has grown into a full-service marketing agency and printer. Name it and they do it, including creative work, design, sales, scheduling, client services, and press work.

“We couldn't continue doing business as we had always done in the past,“ says Steve Hayes, CEO. “Being just print didn't give us the opportunity to grow. We needed to re-evaluate ourselves and expand services to remain relevant to customers.“ They did just that two years ago when they bought a full-service ad agency in Lincoln. With an expanded arsenal of services came a new name, and Omaha Print officially rebranded to Aradius Group.

“We quickly realized that marketing ourselves as Omaha Print was not conveying the level of work we are now able to offer,“ Hayes says. “We grew up on print, we believe in the power of print, but we now communicate with prospects and clients in a multitude of different ways.“ CONT. PAGE 32

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volume 17 | issue 3

B2B OMAHA MAGAZINE

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Steve Hayes of Aradius FROM PAGE 31 The new name is a geometry-inspired metaphor, as a radius leads you to the center of a circle, just as the marketing company is at the center of their customers' successes. Additionally, the spokes of a wheel are radiuses; thus, the new name reflects the fact that they can now offer clients an entire wheelhouse of marketing services.

Due to their continual evolution, Aradius still works with many of the same clients its founders did in the 1800s, including the State of Nebraska, Union Pacific, and First National Bank.

“We like to say we're a two-year company with a 159-year background,“ Hayes says. “Omaha Print has really grown and progressed on parallel with Omaha.“ The Byron Reed Co., a property management firm founded in 1856, has also evolved with the city. What started as a small real-estate and landdevelopment agency—one responsible for the original survey of Omaha and the creation of many of today's subdivisions—is now a company that specializes in property management and investments. Its current portfolio consists of apartments, warehouses, office buildings, and commercial strip centers.

omahamagazine.com FALL 2017 |

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While the company's progression has helped keep it competitive, president R. Michael Alt credits his employees for the firm’s longtime success.

“In the management business, God’s in the details,” Alt says. “Our employees have to like people, pay attention to detail, and enjoy the business while being knowledgeable of the industry and how it’s changing with time.”

Take one look at these three Midwest companies, each remaining titans of their respective industries, and see three success stories, each due to their employees’ willingness to adapt to the times.

“Instead of being reactive to what is changing, you need to be a part of the moving tide—a piece of what the industry is changing to,” Hayes says.

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VOLUME 17 | ISSUE 3

B2B OMAHA MAGAZINE | SPONS0RED CONTENT

WRITTEN BY TAMSEN BUTLER AND MICHAEL WATKINS INTRO BY DAISY HUTZELL-RODMAN PHOTOS BY ARIEL FRIED AND KATIE ANDERSON

Forbes magazine has reported that eight out of every 10 new businesses last less than 18 months. Omaha tends to beat that statistic. The Greater Omaha Chamber has reported that there are more than 36,000 businesses in Omaha, and our research says that more than 8,022 businesses in Omaha have been in existence for more than 15 years. Even more impressive, Omaha boasts more than 90 companies that claim centurion status, from the oldest (NP Dodge and The Weitz Co., which started in 1855) to Omaha Steaks, which claims centurion status for the first time this year.

Legacy Issue

Like the sands of time through an hourglass, these companies continue to work steadily through the years—through recessions and recoveries, staff changes, office moves, and more. Omaha Publications is thankful to have the support of these legacy businesses on the following pages. We’re sure you’ll enjoy reading about these long-running companies. *This sponsored list reflects a portion of the companies in Omaha that can claim legacy status.

30 years

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Design Four design4inc.com

Evergreen Capital Management evergreencapitalomaha.com

Jet Linx jetlinxomaha.com

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Lovelyskin lovelyskin.com Bellevue Travel bellevuetravelne.com

20 years

FireGuard fireguardusa.com

Profit Advantage Direct profit-advantage.com

A-1 United Heating ,Air & Electrical a1united.com

Best Buy Signs bestbuysigns.net Forest Green Lawn forestgreenlawncare.com

Skin Specialists lovelyskin.com/dermatology

American Legacy Complex americanlegacycomplex.com

Ciaccio Roofing nebraskasbestroofne.com Gloria’s Elegant Interiors gloriaselegantinteriors.com

Sleight Advertising sleightadvertising.com

Cox Buisness coxbusiness.com Koca Chiropractic kocachiropractic.com

omahamagazine.com FALL 2017 |

Lawson Kroeker lawsonkroeker.com

Marco marconet.com

Malbar Vision malbar.com

HDR hdrinc.com/home

Omaha Magazine omahamagazine.com

Valley Corp. valleycorp.com

O'Donnell, Ficenec, Wills & Ferdig LLP

Harry A Koch hakco.com

ofwf.com

50 years

Lueder Construction lueder.com

Abrahams,Kaslow & Cassman LLP akclaw.com Pasta Amore pastaamore.com

SOS soshvac.com 70 years

Ingersol Rand company.ingersollrand.com

Frankel Zacharia fzacpa.com Payless OfficeProducts, Inc. paylessoffice.com

Kohll's kohlls.com

Miller Electric millerelect.com

General Fire gfsomaha.com Rosacker and Associates rosacker.build

Neff Towing Red Diamond Coffee & Tea reddiamondbevservice.com

40 years Since 1963

Norm's Door Service normsdoor.com

160 years

Valmont Industries Inc. valmont.com

Center Trophy centertrophy.net

90 years First National Bank firstnational.com

Steamatic steamaticomaha.com

Elman Print elmanprint.com S&W Fence sw-fence.com

Rotellas rotellasbakery.com 100 years

NAI NP Dodge— Commercial Real Estate nainpdodge.com

60 years The Florence Mill theflorencemill.org

Esther’s esthersconsignment.com

Abe's Trash abestrash.com Futuramic's Clean Water Center omahawater.com

All Makes Office Equipment allmakes.com The Weitz Company weitz.com

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B2B OMAHA MAGAZINE | SPONS0RED CONTENT

VOLUME 17 | ISSUE 3

30

YEARS

CIACCIO ROOFING

convinced his father-in-law to join him and a new partner in his own venture in the Omaha area.

Integrity—doing what’s right by standing behind your work, product, and people—is what has always driven Pete Ciaccio and Ciaccio Roofing.

Ciaccio Roofing was born.

It’s a hallmark of doing business he witnessed as a youngster in the work of his parents, Ben and Mary, who owned and operated their business for decades.

Pete and his staff of 26-30 members (depending on the season) work predominantly on flat and metal roofs—mostly for commercial and industrial businesses—and they specialize in repairing and replacing. They also work on shingle roofs.

“They had their own answering service—Telephone Secretarial of Omaha—and because it operated 24 hours a day, they worked a lot,” he says. “I watched them take great pride in what they did, and they always did it with integrity. I always do the same with my business dealings.”

“We don’t chase the shingle market, but we will do them after storms when the demand is high,” he says. “But our bread-and-butter are flat roofs. It’s what sets us apart from everyone else.”

But running a business doesn’t always allow the time to do that—so he puts that social part of his personality to work in relating to, and dealing with, clients.

What also makes Ciaccio Roofing special in the roofing market is its commitment to being consistently responsive to client requests after work is complete—night or day, rain or shine (or snow).

“I like building and maintaining relationships with clients and knowing that we have given them peace of mind in a job well done,” he said. “We have great employee loyalty and that’s because we treat each other well and that carries over to our clients. We take care of each other—that’s always our goal.”

Deciding to go into the roofing business instead of taking over his parents’ company, Ciaccio has been involved with repairing and replacing roofs for more than 30 years.

He actually got his start working with his father-in-law in the four corners that connect Minnesota, Iowa, Nebraska, and South Dakota.

Honoring their work and accepting responsibility when things go wrong or need to be fixed is something Ciaccio has always put first in his business transactions.

Living in Omaha and driving to and from Luverne, Minnesota (the company headquarters), weekly took its toll physically on Ciaccio’s body, so he

It’s a reflection of his commitment to his clients and his desire to honor his family name, strong work ethic, and integrity.

“Owning your own business has its challenges, but the rewards of working for yourself outweigh them,” Ciaccio says. “I just enjoy helping people find solutions to whatever their problems might be. Plus, we have clients all over the country, so I like the opportunity to see the United States.”

A very personable guy, Ciaccio says he enjoys the selling part of his business the most. It’s what built the business and continues to move it forward.

4420 Izard St. Omaha NE 68131 402-293-8707 nebraskasbestroofne.com

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40

YEARS

ELMAN PRINT Mark Elman is direct when explaining how Elman Print has managed to be successful for more than 40 years in the printing business. “It wasn’t me or my parents that made us successful,” he said. “It was our fantastic clients and dedicated employees.”

Elman’s parents, Dick and Alice, started Elman Print in 1977. Mark joined the company in 1991 and purchased it in 1995 when his parents retired. The company began in a 3,000-square foot building at 27th and Leavenworth streets. “We had seven employees total and we were bumping into each other,” Elman remembers. In 2001, they built a 10,000-square foot building, and they moved into a 24,500-square foot building in 2011.

This time, they purchased adjacent land, so when the time comes for further expansion they are ready for it.

Elman Print boasts many longtime clients. “We have dozens of accounts that were with us when I took over in 1995,” says Elman. “Our goal is to keep a customer forever as a valued business partner.” Customers remain loyal because of the great service, high quality printing and everexpanding services. Elman staff keep a close eye

on the quality of products by producing projects in-house. “That lets us maintain the quality our clients expect as well as maintain the control of deadlines which must be met,” he said.

Things run smoothly at Elman Print because of the team-oriented feeling fostered throughout the company. “Everyone works together. We’re like family,” says Elman.

“I love our staff, I pray for them and our customers every week at church.”

The culture of the company is one of hard work and teamwork. “The younger staff members rely on the veterans to show them the way we like things done here,” said Elman. “We have a great mix of seasoned and younger staff and they all work together with the common goal of making our clients look great.” We recently celebrated our first employee with 40 years of service. “When we hire a great employee, we don’t want to let them leave.”

Elman Print continues to add services and capabilities as printing technologies evolve. Their customer base stretches from the Omaha metro across the country. “We partner with financial

institutions, universities, marketing firms as well as large and small companies. “We handle direct mail campaigns including mailing services, annual reports, marketing materials, and invitation packages—if it’s on paper we can make it work,” says Elman. “We strive daily to meet and exceed quality expectations and delivery times.”

The printing business has changed dramatically since Elman Print first opened their doors, but they are dedicated to staying ahead of these innovations and seeking out better processes. Elman admits that running a successful business isn’t always simple, “But when it comes down to it, nothing beats hard work.” Elman leads by example and the team reciprocates with dedication and willingness to put in the same effort day in and day out.

Hard work and appreciated employees combined with satisfied clients equal success for this Omaha mainstay.

6210 S. 118th St. Omaha, NE 68137 402.346.0888 elmanprint.com

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B2B OMAHA MAGAZINE | SPONS0RED CONTENT

VOLUME 17 | ISSUE 3

44

YEARS

MARCO Today’s technology isn’t just complicated…it’s integrated. Phone systems are connected to video systems, which are connected to networks that are connected to copiers and printers, and so on.

Updating one portion of technology is neither simple nor an isolated event.

Marco specializes in business IT. They know how things work and how things connect to one another.

They’ve come a long way since opening their doors as a small typewriter shop back in 1973.

That’s because technology has come a long way.

Through the years, they’ve adapted to changes in the industry by listening to what their customers want, and being the first to implement new and better solutions. To do that, they've hired smart people who are driven to learn and understand emerging technology and how it can improve business.

Today, Marco is one of the top five technology providers in the nation, serving customers nationally with core offices in Illinois, Iowa, Minnesota, Missouri, North Dakota, South Dakota, Wisconsin, and here in Omaha. Over

half of their 1,100 employees are certified systems engineers and technical representatives.

That means they maintain the highest level of certifications for their area of expertise.

audio and video systems, and copiers and printers.

In fact, Marco is one of the largest Konica Minolta and Sharp dealers—and HP’s largest independent dealer—in the U.S.

Though their footprint continues to grow, they are adamant about providing premium local support.

Customers who call an assigned Marco support team talk with people who know their business and its nuances, not a room full of strangers in a call center a thousand miles away. The Omaha team members have an average tenure of 15 years.

That kind of local experience can be a gamechanger when dealing with technology issues.

Beyond all of their expertise and many certifications, the thing that sets Marco apart the most is their positive culture. They are consistently named a top workplace by local and national organizations for being a fun and friendly place to work, a good corporate citizen, and a caring employer.

It’s also important to know the ins and outs of IT, especially with today’s integrated technology.

Marco’s Managed IT Services help businesses proactively manage their IT infrastructure so there’s less network down time—and all of the systems and programs connected to that network work together more effectively. They work as an extension of customers’ IT staff to manage the dayto-day maintenance and support responsibilities.

That allows the customer’s IT staff to spend time on more important things.

In addition to managed IT services, Marco offers carrier and cloud services, phone and voice systems,

The best part about having a positive culture is that it translates to great service. Ninety-two percent of their customers say they would recommend Marco. This culture of service is also one of the reasons they’ve received Omaha Magazine’s Best of B2B™ 12 years in a row.

7929 West Center Road Omaha, NE 68124 402.339.3006 marconet.com

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35

YEARS

OMAHA MAGAZINE Omaha is about the larger community—the artists, the businesspeople, the philanthropists, the families. Omaha Magazine publisher Todd Lemke truly believes this, which is why the company motto is “It’s About All of Us.” The magazine celebrates 35 years of production in 2018. Lemke began the company in 1983, two years after graduating from UNL with a degree in journalism, with the purchase of an alternative newspaper called City Slicker. He turned the publication into a “slicker,” transitioning it immediately into a four-color glossy magazine.

Upon discovering that advertisers wanted to appeal to people “past the party age,” he transitioned City Slicker into a free magazine titled Omaha Today.

Lemke wanted to continue growing, and his next move, in 1987, was to purchase a monthly publication titled Our City, which listed local places to shop, eat, and be entertained—an ideal publication to place in hotels around our city.

By this time, Lemke’s friend Greg Bruns began working with him in advertising sales. Bruns, having difficulty selling for a rather genericallynamed publication, asked Lemke to think about changing the name of Our City. That thought became a reality in 1989 when the preferred name, Omaha Magazine, became available.

There has been an Omaha Magazine in the area since 1890, but in the late 1980s, the registration on the name lapsed, and Lemke grabbed the chance to gain the perfect name for the company while merging his two publications.

Others believed Omaha Magazine to be the perfect name for the company, also. With a less generic name, the sales staff was able to increase revenue, which resulted in more content for the magazine.

The editorial staff used the extra room to print profiles of people and more in-depth features about the community.

Along the way, the family-owned company has retained a family-friendly atmosphere. At least four employees currently hold the last name Lemke—brother Tyler, niece Sarah, nephew Alex, and Todd’s mother, Gwen. Many children of the employees have held summer jobs or internships, even becoming full-time employees themselves.

Today, nearly 30 employees adhere to the company’s core values of community, respect, passion, integrity, creativity, and excellence— driven by the desire to tell the best stories in Omaha.

And it does. The magazine has won several awards for staffers' work, most recently the 2017 Magazine Photographer of the Year award, won

by creative director Bill Sitzmann from the Great Plains Journalism Awards. Sitzmann nearly swept the magazine photography award categories at the event in Oklahoma. Art director Matt Wieczorek translated the magazine's logo into the Omaha language for a cover that was a finalist for Best Magazine Cover, a special issue that also won finalist for its multimedia project on the Omaha language. Current executive editor Doug Meigs won Best Magazine News Writing in that same awards show for a multi-part series, "Dying for Opaites in Omaha" and was a finalist with his article "Gone Girls: Human Trafficking in the Heartland."

“We are a read, not a flip,” Lemke says. “We are a rare combination of informative, entertaining material, great design, and incredible photography.

Because of that, we have a highly educated reader.”

Those readers include everyone from millennials to members of the greatest generation. Each issue brings readers people profiles, arts and culture stories, food-related reports, multiple event calendars, home articles, and unique features.

"It's about all of us," Lemke reiterates.

5921 S. 118th Circle Omaha, NE 68137 402.884.2000 omahamagazine.com

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VOLUME 17 | ISSUE 3

49

YEARS

STEAMATIC Steamatic of Omaha owner Bret Burianek earned his first paycheck from Steamatic when he was 10 years old. His parents, Bud and Arlene, owned the Omaha Steamatic franchise then, and Bret “earned money by doing little things around the shop.” Now the owner of this legacy business, he’s joined by his sister Becky Canaday, who serves as the office manager.

What started as a carpet cleaning business evolved over the years into a company that also offers restoration services and helps clients reclaim a sense of order and cleanliness after a devastating event such as a fire, flood, or mold infestation. Their carpet cleaning continues to impress customers, but Steamatic’s ability to restore after disaster is what puts this company in a more elite category than other carpet cleaners in the Omaha area.

Steamatic of Omaha has the distinction of being the oldest franchise in the entire Steamatic franchise system. Opened on July 1, 1968, by

Burianek’s parents, Steamatic of Omaha is looking forward to celebrating their 50th anniversary in business next year. “We’ve been there for fires, floods—you name it,” says Burianek. “We’ve had a lot of different projects over the years.” They were involved in the restoration and clean-up after the devastating tornado of 1975 hit Omaha.

More recently, Steamatic helped restore and clean the condos next door to M’s Pub after the 2016 explosion and fire. They have not only watched Omaha change over the years, they’ve also been there to help pick up the pieces when disaster strikes.

The weather doesn’t stop them, nor does the time of day (or night). “We’re on call 24 hours a day, seven days a week, 365 days a year,” says Burianek. He added that while they may not necessarily like getting calls at 2 a.m., “customer service means doing what we promise.” Customers rely on Steamatic to always answer the call, whether it comes in at 2 a.m. or during regular business hours. Customers praise Burianek’s team for having the ability to seemingly erase the signs of damage caused by disasters and to restore worn, soiled carpets to pristine condition.

For nearly 50 years, that promise has meant that no matter what time it is and no matter what the temperature outside, Steamatic will be there and ready to help. Burianek stresses the importance of taking care of customers and credits that high standard for his company’s long history of success.

“For any service company, taking care of customers should be their primary goal,” he says, offering valuable advice as a successful business owner.

Burianek envisions a bright future for his company. “Hopefully, we’ll continue to grow,” he says. Undoubtedly, they’ll continue to grow by delivering on the promises they make to their customers, because that’s what Steamatic of Omaha has always done. Burianek admits that the dynamics of owning a business have changed over the years, but his customer service model has not.

8834 Washington Circle Omaha, NE 68127 402.331.1116 steamaticomaha.com

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71

YEARS

VALMONT INDUSTRIES INC. Global Leadership Grown from Midwestern Roots Like most great companies, Valmont began with one person who had a vision, an entrepreneurial spirit, and a strong desire to create something of lasting value. So strong was that desire, he put his life savings—$5,000—on the line. That man was Robert B. “Bob” Daugherty.

In 1946, following the war, Frank Daugherty (Bob’s uncle and mentor) encouraged Bob to consider business opportunities. Bob took his uncle’s advice, investing in a farm machine shop in Valley, Nebraska. From those humble beginnings grew Valmont. The company leads the world in the five primary business segments: engineered support structures, coatings, irrigation, utility support structures, and energy and mining. Valmont conducts business in over 100 countries, and its 10,000 employees operate from facilities in more than 23 different countries. Valmont is publicly traded on the NYSE under the symbol (VMI).

Making a Difference Every Day Valmont creates ever-improving lighting and traffic structures to guide the way, communications towers that keep people connected, utility structures that bring power to homes and businesses, and irrigation equipment that helps grow the food to feed a growing world population.

If you’ve driven under the lights of the Dodge Street expressway, been to a game at TD Ameritrade Park, or noticed a Valley Irrigation center pivot irrigating a field, Valmont has touched your life. Valmont’s products can be found on the Golden Gate Bridge, Chicago’s Navy Pier, Daytona International Speedway, the Copenhagen Opera House, and Singapore’s Garden by the Bay. Valmont touches billions of people around the world every day. According to the International Energy Agency, 1.2 billion people don’t have access to electricity. Valmont is helping to design and build the infrastructure that will bring it to them. The United Nations reports that by 2050, the world’s population is expected to reach 9.6 billion people.

Valmont is at the forefront, helping ag producers manage the finite fresh water supply required to feed the world’s growing population.

A Steel Company Focused on People Valmont’s culture places a premium on its employees having passion for its products.

All 10,000-plus members of the global Valmont family pride themselves on being people of integrity who excel at delivering results. With nearly 30 percent of all promotions coming from within, employees at every level have opportunities to take their careers in any direction and to nearly any place in the world.

According to Valmont Utility Engineer Barbara Cunningham, “You can learn about yourself and fine-tune your professional goals at Valmont. Some people start in one field, then find that their passion is in one of the other departments. Valmont will foster and encourage this type of growth.”

Valmont’s Midwestern roots continue to move the company forward. Dig deeper, and one will find those roots are the people who comprise Valmont and the culture that unites them.

1 Valmont Plaza Omaha, NE 68154 402.963.1000 valmont.com

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B2B OMAHA MAGAZINE | SPONS0RED CONTENT

32

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35

YEARS

AMERICAN LEGACY COMPLEX Interaction with horses can bolster empathy and cognitive abilities in children, and there is no denying the appeal horses have to kids and adults. For nearly 20 years, American Legacy Complex has offered children the opportunity to interact with horses in a positive environment.

Owner Dorothy Turley attributes this success to their youth programs.

“We give city kids the opportunity to learn about horses,” she says.

7193 County Road 40 Omaha, NE 68122 402.468.4588 americanlegacy complex.com

BATTEN TRAILER LEASING INC. Having grown up in nearby Valley, Nebraska, it made sense for Blaine Batten to start Batten Trailer Leasing Inc. in Omaha more than 30 years ago.

“My dad has spent nearly his entire career in the Omaha area,” says Blaine’s daughter, Ashley Batten, who is the business’ general manager. “It just seemed like a natural fit to start the business here when he knew the local market and had a solid network established.”

Batten’s business involves leasing a variety of different types and sizes of semi-trailers. They primarily lease to other businesses with access to semi-trucks, which are required to pull all of their trailers.

Being agile and continuously looking ahead and evolving have allowed Batten Trailer Leasing to grow and flourish over the course of its existence.

“We are so busy during the summer months— renting trailers to hold products, equipment, or staging for events like the College World Series, U.S. Olympic Swim Trials, and Berkshire Hathaway shareholders’ meeting—that we are routinely completely out of stock,” Ashley says.

4511 S. 67th St. Omaha, NE 68117 402.339.1429 battentrailerleasing.com

BELLEVUE TRAVEL Bellevue Travel president Julie Imgrund loves to travel. "My favorite city in the world is London, and my favorite place to relax is Jamaica," she says.

But even more, she enjoys "opening people’s eyes" to new places and cultures.

"My favorite thing about being a travel agent is when people, especially when they’ve never traveled before, come back and say, 'That was wonderful! Where can we go next?'" she says.

Bellevue Travel originated as Television Travel, a venture by late local newsman John Hlavacek, before employee Phyllis Meyer bought and incorporated the business as Bellevue Travel in 1982. Imgrund worked there for two years before husband Richard’s military career took the family overseas, but she returned in 1998 and assumed ownership with her husband nine years ago.

Today, Bellevue Travel operates out of the Tower Square office plaza, and Imgrund still is an active agent alongside Brenda Robinson and Katie Seymour.

"We’re very happy with where we’re at. We’re one office, one location, there are three of us; this is who we are," she says.

Imgrund says travel agencies remain vital.

"We look for the best value for your money—not the cheapest thing—because sometimes paying a little bit more gets you a whole lot more. We look for the best experience for your budget," she explains, adding that travel agents know what questions to ask about what’s included, what costs extra, and what’s optional. "There are details people don’t think about."

1508 J.F. Kennedy Drive, Suite 101 Bellevue, NE 68005 402.292.6600 bellevuetravelne.com

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It takes a lot of commitment, and a willingness to evolve with the times, to be a thriving business for 43 years. In the case of Center Trophy, it also takes a dedicated family that is willing to step in and help when needed.

Duane Madison started the company in 1973, and his son, Brad Madison, took the helm in 1996. "All we did was trophies and plaques for 20 years," says Brad. "Once I bought it I started changing things." He obtained a screen press and an embroidery machine, greatly increasing the capabilities of the shop. "Now we can provide everything our customers need."

Though Center Trophy has employed a few nonfamily members over the years, customers can be sure that a Madison has a hand in nearly every project. Brad’s sisters, Jill and Pam, work there; Brad's son, Jake, and daughter, Kallie, are on staff; and his 85-year-old mother, Marcy, still comes in to work every day. "We work hard and we rely on each other," says Brad.

Center Trophy is certainly a family affair—and a successful one at that.

5435 Center St. Omaha, NE 68106 402.558.4331 centertrophy.net

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DESIGN FOUR CENTER TROPHY

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Succeeding in the printing business means staying on top of—and right ahead of—the latest trends and innovations. Design Four President and Co-Owner Mindy Chesnut says they continually strive to bring unique products and services to their roster of offerings.

“We have people who have been customers for years who will notice something displayed on our counter and say, ‘I didn’t know you guys did this!’ We’re not afraid to try new materials and be innovative.”

Design Four is in its 27th year of operation— an impressive feat in an ever-changing industry.

Chesnut attributes part of their success to their willingness to try new things. “We welcome odd requests,” she says, adding that they boast quick turnarounds and impressive accuracy rates.

Chesnut and husband Nic purchased Design Four three years ago.

They stand out because they have the capability to print just about anything—yard signs, metal signs, decals, banners, magnets, static clings, and vinyl graphics as well as being able to route custom shapes in wood, metal, or plastic. If a customer can imagine it, it’s likely Design Four can make it.

3232 H St. Omaha, NE 68107 402.339.6856 design4inc.com

EVERGREEN CAPITAL MANAGEMENT Despite changes and advancements in regulations and technology, at its core, EverGreen Capital Management continues to thrive because of the personal relationships nourished over the past 28 years.

Founder Michael Green started EverGreen Capital Management in 1989 following a successful career in banking. As a commercial loan officer, he came to admire his customers who owned their own businesses–which proved to be the genesis for him to start his own business.

The company provides private wealth management advice for people and small businesses. Its primary clientele consists of retirees and people who are planning to retire in the next 5-15 years.

“I believe the most important factor for our success has been the consistent service to our clients,” Green says. “We work very hard to understand their needs and wants. Money is just a tool to help them attain the goals for their lives. We focus on their goals.

“Statistics say there are 10,000 people retiring every day and we are living longer than ever before. That’s a great opportunity.”

909 N. 96th St., Suite 101 Omaha, NE 68114 402.392.1220 evergreencapitalomaha.com

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YEARS

MALBAR VISION

48

YEARS

FUTURAMIC'S CLEAN WATER CENTER In August 1969, Phil Rhodes Sr. started a business selling, renting, and servicing commercial and residential water softeners, reverse osmosis systems, and other water devices to handle most water problems.

Today, 48 years later, the business—Futuramic's Clean Water Center—is going strong and continues to grow and evolve by serving new markets and supplying customers with the latest technology.

“We believe in constantly adjusting to new ideas and keeping up on new equipment,” Rhodes says.

“Today’s consumers are very knowledgeable, and when they have a question, we need to have the answers for them.”

In addition to water treatment, Futuramic's Clean Water Center also furnishes water dispensing systems for retail grocers and others largely in the Midwest within a 150-mile radius of Omaha — but has new and longtime customers as far away as St. Louis and eastern Iowa.

“We are a family business with very dedicated employees and family members,” Rhodes says. “We also have great customers, some of whom have been with us most of our 48 years.”

1514 S. Saddlecreek Road Omaha, NE 68106 402.453.5730 omahawater.com

JET LINX Since 1999, Jet Linx has successfully built a global private jet operation from its roots in Omaha. Throughout 18 years of business, we have remained focused on delivering the strength and infrastructure of a national organization on a local basis.

To better serve clients and their needs, we deliver our guaranteed Jet Card and Aircraft Management solutions through individual, city specific, local operations rather than a remote national operation with an 800 number and floating fleet.

We are thus able to provide clients with a local team they know and trust—including planes, pilots, and a private terminal—creating an unparalleled level of personal service and value.

Our commitment to the best in customer service and safety has propelled us to an industry milestone of over 100 aircraft in fleet, including 12 aircraft based locally in Omaha.

3910 Amelia Earhart Plz Omaha, Ne 68110 402.422.0393 Jetlinxomaha.com

Malbar Vision was founded in 1950 by Dr. Stanley Malashock in the back of the jewelry store bearing the same family name. Today, Malbar’s five offices around the Omaha area offer full-scope optometry services, and are located in easy-to-access shopping centers with lots of parking.

The name Malbar came from combining Dr. Malashock’s last name with his wife's first name: Barbara. Their sons, Neal Malashock, O.D., and Larry Malashock, O.D., took over the practice in 1988.

The Malbar team addresses a wide range of vision issues, including headaches, eyestrain, double vision, reading difficulties, computer vision syndrome, dry eye problems, floaters, and the treatment of eye disease.

In addition, Malbar provides vision analysis, the treatment and management of eye diseases, complete eye exams, and treatment for acute eye condition and trauma; and they fit hard-to-fit contact lenses.

Malbar has long been known for thorough vision and eye care. Their longtime motto is, "The difference is clear. The difference is care." It’s a motto that applies to everything they do. malbar.com

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VOLUME 17 | ISSUE 3

B2B OMAHA MAGAZINE | SPONS0RED CONTENT

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30

YEARS

LAWSON KROEKER from left: Frank V. Lawson, Jr., CFA; Kenneth W. Kroeker, CFA T hese excerpts from a letter to a prospective client in 1985 reflect the philosophy Lawson Kroeker Investment Management still follows today:

INGERSOLL RAND "Almost all manufacturing uses compressed air," says Jon Sprunk, Great Plains District general manager for Ingersoll Rand Compression Technologies and Services. "Our products are used to make virtually everything." Two good examples here in the Midwest are compressed air used in ethanol production to put gas in cars and in food processing facilities to put food on people's tables.

"The Omaha location covers Nebraska, Iowa, and North and South Dakota.

The Great Plains District covers those states, plus Minnesota and northwest Wisconsin," says Sprunk. "We provide best-in-class products and services that exceed our customers’ expectations for the compressed air utilities at our customers’ facilities."

Customers span a wide array of sectors, including hospitals and medical, food and beverage processing, pharmaceutical manufacturing, chemical manufacturing, and electronics, Sprunk says, because the power of compressed air is used in thousands of applications in hundreds of industries. But in juxtaposition to the widespread usage of compression technologies, local Ingersoll Rand employees are focused on supporting the community through involvement in area city and county chambers of commerce, volunteering for various nonprofit and community organizations, and sponsoring youth organizations, activities, and athletic teams.

“We want to make sure we’re giving back to the community that gives to us and we want to be part of the community,” Sprunk says.

13205 Centennial Road Omaha, NE 68138 402.330.5831

If we were looking for someone to manage our family’s investments, we would focus our inquiries along two basic headings: the honesty and integrity of the prospective managers, and their competence to handle our investment problems.

Answers about honesty and integrity usually do not come easily. After all, a good con man oozes integrity. An attempt to state in 50 words or less our investment philosophy mocks the totality of our education and experience. Yet we owe prospective clients some sense of how we think so that they can judge whether our investment approach is suitable for them.

We are conservative and patient. We are independent thinkers.

We seek value.

We look at the stocks and bonds we buy as investments in businesses which are solid, long-term ventures. In this sense we are not traders, but we do believe that there comes a time when any investment should be sold.

We believe in diversification, but not to the extreme of matching an index like the Standard and Poor’s 500. Nor do we believe that diversification should push us into areas where we lack understanding or comfort.

Within the limits of our abilities we believe that every investment portfolio should be designed to fit the needs of its owners, their circumstances, tax status, income requirements, and their ability to carry risk both financially and emotionally.

To sum it up, Lawson Kroeker believes successful investors must always look forward, attempt to perceive improving opportunities, monitor current conditions, and change when and where appropriate.

The company wishes to thank Frank and Ken for founding the business on such strong fundamentals that have weathered and flourished over 30 years. lawsonkroeker.com

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105 YEARS FLORENCE MILL

54

YEARS

NORM’S DOOR SERVICE MILLER ELECTRIC In 1912, Henry Miller started Miller Electric Company (then called H.W. Electric) in his garage; he lived by one important motto: “Do right by your customers, and they’ll keep coming back.”

Thirteen years later, his company was wiring Creighton University Stadium, proving another truism—word gets around.

When Mutual of Omaha erected its headquarters in 1936, Miller Electric powered it through completion. When the U.S. military needed silos in 1950, Miller answered the call. From the Omaha World-Herald building in 1954, to the Woodmen Tower in 1969, to the TD Ameritrade headquarters in 2012, Miller has been combining their innovative electrical and low voltage solutions with their integrity and dedication to excellence to propel the pace of local business forward.

Henry Miller did something right indeed. He put his customers first. Here’s to another 105 years of living his legacy.

2501 Saint Marys Ave. Omaha, NE 68105 402-341-6479 millerelect.com

As a second-generation door, dock, and gate system company, Norm’s Door Service has deep roots in Omaha.

Started 54 years ago by Norm Kerr—father of current co-owner Ruth Smith—the business has served western Iowa and eastern Nebraska since 1963.

Just as it did in the early days, Smith, along with co-owner and husband Jim, say the business has grown because of its commitment to service and competitive pricing.

“Norm’s Door Service continues the heritage of its founder by providing reliable and professional service at a fair price—and by standing behind its work 100 percent,” Jim says.

Smith adds that Norm’s Door Service has recently expanded into providing service, repair, and installation of commercial entry door (CED) systems for all types of commercial businesses. This includes automatic doors and hollow-metal doors.

“Our unsurpassed workmanship and value has resonated with customers, as Norm’s has been recognized for our dedication to customer satisfaction in Omaha Magazine every year since 2010 and has won annual contests from B2B Magazine for Best Garage Doors,” Smith adds.

8920 Washington Circle Omaha, NE 68127 402.331.8920 normsdoor.com

T he Historic Florence Mill was recognized by entrepreneur. com as the "oldest business" in the state of Nebraska.

Reborn several times with different owners, it is the oldest continuously operating business site in the state.

That's the beauty of the mill; it has found new life in different roles (mill, feed distributor, cultural site, and community space) as the Florence area changed from Winter Quarters, to a small settlement, and finally an annexed part of Omaha.

Construction of the original mill began in 1846, completed in 1847, and abandoned by the Mormons in 1848. It was rebuilt after the Kansas/Nebraska Act. Later owners included the Weber family (for 104 years), the Harpster family (until 1998), and John and Linda Meigs (who renovated the mill from ruin).

9102 N. 30th St. Omaha, NE 68112 402.551.1233 theflorencemill.org

ROSACKER AND ASSOCIATES Rosacker and Associates began in 1988. Owner David Rosacker went full speed ahead in 2006 and has successfully run his construction management company ever since.

R&A is a fee-based owner-focused full construction services practice concentrating on protecting and achieving the owner’s goals.

“Business owners need commitment and a vision of where they want to go,” he says. He also credits his wife Melissa, and his daughter Sarah, who both work in the business, for helping him succeed. rosacker.build

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VOLUME 17 | ISSUE 3

B2B OMAHA MAGAZINE | SPONS0RED CONTENT

66

YEARS

45

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O'DONNELL, FICENEC, WILLS & FERDIG LLP As an operations partner since 2009, Geoffrey Schnathorst recognizes there is something consistently unique about O’Donnell, Ficenec, Wills & Ferdig LLP. Founded in 1951, the firm has provided public accounting services to individuals, businesses, nonprofits, and local government in the Omaha metro with the mission of always putting the client first.

Having built a team of partners with technical expertise in a variety of different areas, O’Donnell, Ficenec, Wills & Ferdig, LLP, operates with the personal experiences of having endured the same daily business and personal financial challenges as their clients.

“We have many longtime clients—some as long as 35 years—not just because we provide the highest quality of services but because we make it a point to respond to our clients in a personal way to help them achieve their specific business and personal needs,” Schnathorst says.

“We have evolved, and continue to evolve, by staying connected to our clients and staying abreast of training and technical expertise.”

Through its rigorous review process, O’Donnell, Ficenec, Wills & Ferdig, LLP, guarantees no service is complete until it passes quality control. The firm's services include: tax services, assurance services, accounting and business advisory services, business valuation, litigation support, information systems, and QuickBooks support “We operate by always considering and exceeding the needs of our clients,” Schnathorst says. “We have some regional clients, but the bulk of our clients are locally based, and because of that, we are able to provide personal services.

It’s something our clients truly value, and it’s something we have outlined as a big part of our mission.”

4815 S. 107th Ave. Omaha, NE 68127 402.592.3800 ofwf.com

VALLEY CORP. General contracting company Valley Corp. is truly a legacy, as it was started in 1972 by Del and Helen Chapin, the grandparents of Matt Bevington.

It was acquired by Bevington's parents, Bonnie and Roger Bevington, in 1977. Matt took over the company in 2007. “Valley Corp. will celebrate 45 years in business this October,” says Bevington, who now serves as the company’s president.

He attributes the long-standing success of Valley Corp. to the strong continuation of offering value and service to the community. “We have the connection of a family owned business,” explains Bevington, adding that he appreciates “being a part of a legacy company.”

The legacy started by his grandparents is thriving today largely because of Valley Corp.’s employees. “We have an outstanding core group of employees with the same level of drive and ethics for the business as we do,” Bevington acknowledged. “I enjoy working with this great team, and I’m looking forward to a bright future.”

Bevington recognizes that he is fortunate to be involved with a family business.

“Being able to work at a family business right out of high school was really unique. It’s a powerful place to learn about people, and business, and what it takes to succeed. My parents gave me a great opportunity.” While he’s not sure if his own sons will someday take over the company, he does foresee the company “continuing to thrive beyond our ownership.” His hope is that his sons will have the same good fortune as he had to “do what they love doing.”

28001 Ida Circle Valley, NE 68064 402.359.2578 valleycorp.com

A Paw-sitive Partnership TEAMING UP WITH INVESTORS FOR GROWTH PG. 8

Get Smart THE SCIENCE OF GOOD CHILDCARE PG. 4

Slice of Pie THREE FRIENDS INVEST IN PIZZA PARLOR PG. 13 A Publication of The Firm Business Brokerage

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ACQUISITION EDITION

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The Firm Deal Review

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The Bottom Line

Crete Vet Practice Continues Through Strategic Buyer

Special Section

Features

7 Take Our Hand

Columns

Science Goes 4 AA Little Long Way

The Firm Business Brokerage has more than $90 million in assets

under management of cash-

Helping Kids Steam Ahead

the Future 8 Funding Continues Through Strategic Investor

flowing businesses for sale— from contracting companies, to professional service businesses, to medical-based practices.

Industry Consolidation 12

The Story of Marcotte Insurance Paesani Come Together 13

in Purchase of Piezano’s

the Value of Your 6 Raise Business Now

Max it for the Future

Bounce U 11

Having Fun is a Key to His Success Looking for Financing?

14

Why an SBA loan may be a good option for your business

Executive Impact 15

Confidentiality is the core of good business

Sells Insights

Growing a Business Can be Tough

T

by Cortney Sells president/editor

here are some paths

that seem like a no-brainer but don’t pan out, and others that unexpectedly lead to rapid growth. Either way, a good strategy involves defined goals and a clear step-by-step process to achieve them. The only remaining question is if it’s better to grow organically or through acquisition?

The short answer is that there are positives and negatives to both approaches, and it really comes down to knowing what you want and what you are willing to do to get what you want.

Growing by acquisition is the fastest way to boost your bottom line. It provides an influx of skilled employees, new customers, and a burst of capital. However, ensuring you have the resources and time to devote to such rapid growth is key.

Otherwise, you’ll find yourself in over your head and unable to incorporate successfully. In that case, having the patience to grow slowly and internally is the better option.

sistently seek new and creative ways to achieve our financial goals. Looking to the future is half the battle, but implementation of any growth plan is like getting that last slice of pie that everyone is clamoring for. When acquisition works to your advantage, your bottom line becomes your best friend. The same may be true for an organic approach, but the process could take years.

In the end you’ll reach your goal either way. THE FIRM

As business owners, we all want to grow our companies, and as good innovators we conFall 2017

The Firm Deal Review

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“AT SMART START WE AIM TO OFFER A BALANCED CURRICULUM WITH A FOCUS IN STEM,” SAYS MCLEAN. “THIS BENEFITS THE CHILD’S LEARNING TRAJECTORY AND HELPS TO SET MEASURABLE GOALS.” - Margertha McLean

4

The Firm Deal Review

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A Publication of The Firm Business Brokerage

A Little Science Goes a Long Way Giving Omaha’s Kids a Smart Start in STEM written by Maureen Tierney

R

emember when you first learned

Former owner Jayne Buck had similar

about the tiny molecules that make up every living plant, animal and substance? It seemed an impossible reality to your young mind, as it’s hard to believe what the eye can’t see. But your teacher, like any good teacher, gave you the tools to observe these minute beings on their terms, and the wonder your eyes beheld through the microscope expanded your understanding of fire, water, and the breath of life. Up to that point, everything unknown was a curiosity that you couldn’t wrap your head around, but with just the smallest nugget of knowledge the world made a little more sense and a spark was lit.

ideas when she bought Smart Start in 2012.

What was originally intended to be an investment quickly became a project of passion. “I wanted to provide the same services and activities that my own children had when growing up,” says Buck. On that note, she implemented all-inclusive enrichment activities at no extra charge, reviving a neglected center and boosting enrollment from under 25 children to five times that number. Programs for school-age children were developed, including beforeand after-school care, school transportation, and school break programs with field trips and special activities. Children ages 3 and older are exposed to art, dance, soccer, story time, and more to provide a well-rounded experience.

These added programs and enrichment activities have aided the success of the center, and McLean plans to keep them in place.

Margertha McLean, who can’t remember a time when all things science and math didn’t fascinate her, is hoping to plant that same spark in Omaha’s youngest children. As the new owner of Smart Start Learning Center, McLean is putting her training and education to work.

She’s spent the past seven years working for two major food companies in a lucrative food scientist and operations manager career, but is taking her degrees in cellular biology, biochemistry, and nutritional sciences to early childhood education. It may seem like science and child care wouldn’t mix, but both fields are not all that different, and McLean would be the first to tell you how children can benefit from a STEM (Science Technology Engineering Mathematics) education foundation at an early age.

While a graduate student at the University of Wisconsin-Madison, McLean was simultaneously involved in research and tutoring in math and science. Working between two different fields gave her a “unique spin on how science fits hand-in-hand with early childhood education.” An early start leads to a better grasp of more than just biology, chemistry, and physics, as it trains children to think and observe in more comprehensive ways. “At Smart Start we aim to offer a balanced curriculum with a focus in STEM,” says McLean. “This benefits the child’s learning trajectory and helps to set measurable goals.”

But it didn’t happen overnight. Buck put in countless hours, developing a curriculum and setting aggressive goals for growth. She focused on creating an “entire experience for parents and children from start to finish.” Buck introduced the emphasis on healthy eating with access to fresh fruits and vegetables, organized the classrooms, and developed the staff to where they are now. She and her husband James “enjoy the process of taking a business, growing it, working on it, and seeing the fruits of labor,” says Buck. With Smart Start, it’s been more than just an entrepreneurial endeavor.

The Bucks put in countless hours improving the facility with the Early Learning Guidelines in mind to ensure age-appropriate activities were available. It’s been a work of dedication, where Buck became invested in the well-being of the staff, parents, and children, and it’s this deep care that she sees in McLean.

Like Buck, McLean didn’t set out to become an owner and of a child care facility, but when she became pregnant with her daughter, she began to think about how she could work, spend more time with her daughter, and have an impact on education. Her husband, family,

The Firm Deal Review Reason for Purchase: Owning a business with a purpose Financing: Centris Federal Credit Union Days on the Market: 180 Sale Price: $615,000

and friends were supportive, but not without skepticism. Not only would she be leaving behind a thriving career in corporate America, but she’d be taking on something entirely out of her purview. But this wasn’t done on a whim, and she wasn’t going in without a plan.

Buck already put in place several programs that involve aspects of STEM, but McLean wants to take it even further. With the assistance of her tenured staff, assessment tests will be developed to help meet each child’s individual needs, from toddlers to preschoolers. There is a need for more readiness programs for pre-kindergarten children, and McLean would like to introduce them to robotics and engineering in the form of special building blocks and math brain breaks. Nutrition is equally important, and Smart Start provides healthy meals and snacks to help children gain knowledge of food agriculture and general nutrition.

It’s an ambitious start for McLean, who has already spent her first month meeting most of the parents, getting to know the children, and working with her knowledgeable staff to help in her transition to ownership. “The teachers have lots of experience—over 20 years’ worth—and have been essential in my coming on boarding,” says McLean. Who knows, maybe one day you’ll see other Smart Start Learning Centers in the area, ensuring that Omaha’s children are flourishing and having fun with STEM education.

THE FIRM

Fall 2017

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A Publication of The Firm Business Brokerage

Raise the Value of Your Business Now MAX IT FOR THE FUTURE written by Odee Ingersoll, CVA, CEPA, MBPA, EDFP, president and lead analyst at Pinnacle Consulting

W

hen do business owners need to know the value of their business? The obvious answer is before they sell it, or when events require a valuation. The less apparent answer is whenever they want to grow their business’s value and opportunities.

provement. Raising value over time will increase sale or transition opportunities. If a “value gap” is present—the difference between a firm’s true market value and what an owner wants it to be worth—there’s time to close it.

2. If three years isn’t an option, get started Professionally prepared business valuations are more than just opinions of value. To get there, an analyst must understand the business’s underlying performance and the market it operates in. This requires research and insight beyond three years of tax returns or financial statements. A valuation isn’t just a snapshot in time. Opportunistic owners and buyers understand that it’s really a guide to future success.

now with whatever time is available. There are some steps that can be taken to immediately raise business value, even if a longer-term approach isn’t possible.

3. When a deal is underway, the business may be valued again to support the agreed-to purchase price and required financing. Determining if a credentialed report is required de-

Valuation is both art and science. Each is an irreplaceable element of a professionally prepared report. Software and online products provide rudimentary estimates—that’s the science part; one entry plus another makes a result, often using averages, median values or “rules of thumb.” In reality, few businesses are average. They are unique with a unique business value.

When owners settle for an average, most of the time they settle for a value that’s wrong.

What the science part is lacking is the experience to know when to deviate, take an alternative approach, or make a judgement. The science part doesn’t ask “why.” The art part not only wants to know why, but “how” and “what if.” There’s no algorithm to approximate the experience created by working one-on-one with hundreds or thousands of unique businesses. They look at market, economic and demographic trends; competition, technology disruption, and operational structures. What happens outside the numbers can affect real business value by tens of thousands to millions of dollars.

So, when do business owners need to know the real value of their business?

1. Three years in advance of an expected transition is a great place to start. Buyers and lenders will want this historical performance to judge the business. A reliable valuation provides a starting point. It shows what the business does well and demonstrates opportunities for im6

The Firm Deal Review

Fall 2017

THE FIRST STEP TO A MORE PROFITABLE, MORE VALUABLE COMPANY BEGINS WITH A BUSINESS VALUATION THAT PROVIDES OWNERS THE INFORMATION THEY NEED TO PLAN, AND THEN TO ACT. pends on the value of the underlying tangible assets, and more importantly, the proposed value of goodwill or the intangible assets. Increasing the value of goodwill is where real value opportunities lie. While physical assets tend to lose value over time, in a great business, goodwill should grow. Non-compete agreements or some intellectual property assets may add value too.

4. Not all business events are planned.

Businesses or owners facing litigation or other significant events need a reliable, fair valuation and a professional who can defend it.

Owners need to pay attention to the valuation approaches and methods used by an analyst.

An asset approach should rarely be used to value a successful business. More often, it is used when other approaches or methods cannot be applied, or to support another value approach. Profitable businesses should be valued using both a market and an income approach, and may include multiple individual methods.

The market approach values a business using actual completed transactions of similar businesses based on annual revenue, EBITDA or seller’s discretionary earnings. The income approach uses public risk and investment returns, applying the result to either historical or pro forma financial performance. In each approach, various premiums or adjustments may apply depending on the method used, ownership interest being valued, and the assessment of the analyst.

The first step to a more profitable, more valuable company begins with a business valuation that provides owners the information they need to plan, and then to act.

In Nebraska, Ingersoll provides business valuation services statewide and inside the metro through Nebraska Business Development Center. Additional valuation and litigation support services are available nationwide through Pinnacle Consulting. Phone: 402-671-0401 or 888-858-4548. Email: ingersollo@pinnacleforbusiness.com THE FIRM

A Publication of The Firm Business Brokerage

Take Our Hand: FEATURED OPPORTUNITIES FOR SALE 90 Percent Home and Auto, Farmers Insurance Agency PRICE: $119,000 OWNER PROFIT: $102,000

Home Improvement with Two Locations PRICE: $750,000 OWNER PROFIT: $192,624 Specializing in vinyl window and door installa-

The Lincoln location of this Farmers

tion, the sellers of this franchise business have

Insurance agency has been in operation

locations in Nebraska and Iowa. Together, the

since the 1970s, and has recently moved to

stores gross over 2.4M in sales and profit the

a higher profile spot. Newly remodeled, the 750-sq. ft. office is along a well-traveled

owners nearly $200,000 in cash flow. As part of a nationally-recognized name brand,

highway and leased for $868/month. Over 40 insurance products are available, with

these stores promise huge growth potential coupled with absolutely no franchise fees.

90 percent of sales and renewals coming from home and auto policies.

Nationally-Recognized Donut Shop with Two Locations PRICE: $380,000 OWNER PROFIT: $107,447

Auto Repair & Maintenance in Lincoln PRICE: $319,000 OWNER PROFIT: $102,996 Located in an affluent part of Lincoln, this auto

With two Omaha locations, this national

repair and maintenance business consistently

bakery and donut franchise grosses over

grosses over $700K in sales and boasts 60

$770,000 combined. Each shop is situated

percent repeat clientele. Part of a national

near major intersections and heavy populated areas of town. In operation for 12 and 5

franchise, this location was opened in 2003, and has been under the same ownership

years respectively, the seller is looking to relocate and would like to pass these stores

since. The building measures at 4,500 sq. ft. and includes five bays, a lobby, and an office.

on to dedicated buyers.

Upholstering & Furniture Repair Company

28 Nutrition Supplement Stores Across 9 States

PRICE: $220,000 OWNER PROFIT: $86,942

PRICE: $10,700,000 OWNER PROFIT: $3,058,341

For over 100 years, this furniture upholstering

These health and nutrition stores, with over

and repair company has built a strong repu-

$15M in combined sales, are a leading retailer

tation for old-world craftsmanship. Consid-

in the health and fitness industry. Part of a

ered a recession-proof trade, this business

franchise, there are 28 stores located across

weathered the recent economic downturn with minimal disruption, and has tremendous

nine states. The owners are absentee but have staff in place to manage day-to-day

growth potential. While this is a specialized industry, there are six employees in place

operations, consisting of two-four employees per location, including a manager.

to manage the work.

**Upscale Catering with Consistent Profits

Industrial Printing Grossing 1.5M in Sales

PRICE: $385,000 OWNER PROFIT: $129,437

PRICE: $810,000 OWNER PROFIT: $205,372

For over 30 years, this upscale catering and

In operation since 1989, this business spe-

cocktails business has shown consistent

cializes in the distribution of media tools and

profits. Specializing in elegant and tasteful

has recently purchased a $15,000 flatbed

events from weddings to corporate parties,

press capable of printing on almost any sur-

menus range from breakfast to picnic specials. With both catering and liquor licenses,

face. Owned and operated by the same couple since its inception, this company has seen

the owner has begun offering cocktail-only events without food. This is a great area for

the rise and boom of tech, and continues to innovate and move with industry demands.

growth and promises to be a fantastic revenue earner.

** Broker’s Choice | 110+ Available Business Opportunities For Sale. Please visit TheFirmBusinessBrokerage.com for details Fall 2017

The Firm Deal Review

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A Publication of The Firm Business Brokerage

“I I FOLLOWED MY DREAM AND NEVER REALLY THOUGHT I WOULD BE OWNING MY CLINIC JUST FOUR YEARS OUT OF VET SCHOOL, BUT HERE I AM, ENJOYING EVERY DAY OF IT.” - Amber Andelt

8

The Firm Deal Review

Fall 2017

A Publication of The Firm Business Brokerage

Funding the Future How Investors are Helping Shape Animal Clinics written by Maureen Tierney

I

nvestment trends come and go, some-

times leaving an indelible mark on an industry, changing it for producer and consumer alike.

Most of us may not know it, but the veterinary industry is rapidly transforming, especially in the Midwest, where many small-town and rural vets are near or past the age of 65. And it’s not as if today’s newly graduated veterinarians are financially able to afford owning and operating a clinic. Schooling isn’t cheap, and neither is the diagnostic equipment needed to run your average vet practice. But that didn’t stop Dr. Amber Andelt from making plans.

“Owning a clinic was something I dreamed of doing from a young age. My parents say I stated I was going to be a veterinarian when I was four years old. I followed my dream and never really thought I would be owning my clinic just four years out of vet school, but here I am, enjoying every day of it,” Andelt says. As the new part-owner and managing partner of Crete Veterinary Clinic, Andelt is learning firsthand the management and business skills needed to run a practice, two areas barely touched in most veterinary programs. However, unlike many of her counterparts, she was able to become an owner with help from an investment group and rollover equity from the selling veterinarian.

Frank Zhang and Jake Sloane are, along with business partners Dan Markenson and Matt Sussman, the founding partners of ZBS Capital and Alliance Animal Health, a multi-site owner, operator and business partner to veterinarians countrywide. The Boston-based companies finance and take a majority-ownership stake in veterinary practices with the goal of providing long-term capital for clinics to grow under the umbrella of a sound network. They are partners in care, ensuring that doctors can fund new equipment purchases, better manage inventory, and assist in an eventual exit strategy on the part of the retiring owner. The company oper-

ates on the principle that a veterinarian knows his or her clinic best, and taking the burden of ownership out of running the practice not only aids in winding down to retirement, but also allows the doctor to do what they do best: treat the animals they love.

“I DIDN’T WANT TO CLOSE DOWN AND WALK AWAY,” SAYS HARDENBURGER. “MY GOAL WAS TO SELL THE PRACTICE TO SOMEONE WANTING TO PROSPER AND BE AN ASSET TO THE COMMUNITY.” - Dr. Phil Hardenburger

When it came time for Dr. Ph Re: Firm Proof Final - MB il Hardenburger to consider retirement, this opportunity was the answer to a solution he’d been seeking for a while. Hardenburger opened Crete Veterinary Clinic in 1975, serving the town’s pets and nearby cattle herds, but when it came to looking for a doctor to continue his practice, he wanted to make sure the person he found was passionate about staying and working in Crete. “I didn’t want to close down and walk away,” Hardenburger says. “My goal was to sell the practice to someone wanting to prosper and be an asset to the community.”

Hardenburger had done some research on organizations that buy veterinary clinics, and for a moment he felt he had found one. Unfortunately, the deal fell through at the last minute.

The Firm Deal Review Sale Price: $510,000 Location: Crete, Nebraska Reason for Sale: Retirement Investment Partner: ZBS Capital

Then Hardenburger met The Firm’s Brokerage Principal, Rene Rademacher, at an industry convention where the prospect of selling was revisited and Hardenburger embarked down the road to becoming Zhang, Sussman and Sloane’s next strategic acquisition with the help of The Firm. Now, a strategic acquisition by any other name, is a way of taking advantage of a fragmented market like that of the veterinary industry. Fragmentation refers to a diversified market, where essentially there are no WalMarts influencing the industry, driving down prices, and squeezing out the competition. Animal clinics are generally small operations, with a multitude of them spread across any given area. Services are in-person and unique to each transaction, meaning no two “products” are alike and mass-production is an impossibility.

So, partnering with companies within the same industry is a way of rationalizing competition in a fragmented sector. It becomes a supportive network of like-minded businesses with the goal of growth, giving smaller operations greater resources and stability.

Not only would Hardenburger now be able to retire, but a young Dr. Andelt would become an owner of her own vet much sooner than possible, and be the recipient of financial resources for state-of-the-art equipment. “ZBS Capital has been able to offer access to purchasing contracts with distributors and manufacturers on a great scale, offering more savings for the clinic as well as in other areas such as insurance, payroll and credit card processing,” Andelt says.

>

continued on page 10

Fall 2017

The Firm Deal Review

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A Publication of The Firm Business Brokerage

IT’S A MUTUALLY BENEFICIAL RELATIONSHIP, AND FOR ANDELT, “OWNING THE PRACTICE IS REWARDING. THE MORE HARD WORK AND TIME YOU PUT INTO IT, THE MORE REWARDS YOU GAIN.” >

continued from page 9

It’s That Simple.

The investors maintain a majority partnership in the practice while still giving Andelt sufficient controlling interest, allowing her the added support in decision making while “focusing on providing veterinary services and growing the practice.”

The question that may come to some minds is why focus on the veterinary market for such large investments? Simply stated, the animal industry is ever-growing and lucratively priced, and as long as man’s best friend is furry, there won’t be a drop in demand any time soon. And the Midwest, with its healthy economy and sturdy practices, is a prime market for investment groups to provide capital and assist in growing businesses. But that doesn’t mean that robust vet practices won’t benefit from a partnership with an investor. Andelt is able to map out a fiveyear plan thanks to ZBS Capital. “We have set a goal to have not only one mobile vet truck, but two up and going within three years,” says Dr. Andelt, who also plans to have the large animal facilities remodeled and a “new boarding facility for dogs and cats within five years.”

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For Andelt, Hardenburger, and ZBS Capital, the long-term goal is not to create a standardized one-size-fits-all model, but to continue the growth of a healthy industry while still earning a steady return on investment.

Relieving some of the more arduous business decisions from the mind of an owner-operator veterinarian can return their focus to the care of animals large and small. It’s a mutually beneficial relationship, and for Andelt, “owning the practice is rewarding. The more hard work and time you put into it, the more rewards you gain.”

THE FIRM 10 The Firm Deal Review

Fall 2017

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Bounce U Celebrates Two Years of Growth HAVING FUN IS A KEY TO HIS SUCCESS written by Susanne Miller

“MY WIFE SAYS I COME HOME ENERGIZED AFTER BEING THERE. WHEN THE KIDS COME FOR FIELD TRIPS AND BIRTHDAY PARTIES, YOU CAN SEE THE EXCITEMENT ON THEIR FACES. IT’S REALLY A GREAT THING.” - Jerry Rachwalik

J

erry Rachwalik believes success

and fun are tied closely together. The owner of Bounce U since July 2015, he knows that the total experience for his young clients is crucial for repeat business. “We have seen steady growth over the past two years. Some new business owners want to see a huge jump, but that is hard to sustain in the long run.” Throughout the two years, additional businesses with similar concepts have opened, but Bounce U maintains a consistent level of service that parents receive.

Bounce U is a franchise, so there are operational guidelines that the franchisor has put in place and must be followed. However, there were changes Rachwalik could make to improve things. First, he increased the staff, having two managers on site instead of one to provide more observation and support in the two bounce rooms. The number of attendants at birthday parties increased to two, since there are a lot of details and activities involved with those events.

The key was having people who wanted to be there with the kids, not just be there for a job.

Feedback and discussions are encouraged so that operations can be continually improved and the employees stay motivated.

Parents also appreciate other additions.

Curtains were added to the windows to reduce heat and glare. More toddler items were added to the play area. The next inflatable purchase being considered is one for younger children.

“Moms are there with children ages 1-3, so we

need to have something for them, too.” The fact that Rachwalik has toddler grandchildren himself was a big motivation.

It’s also the “little things” that people may not see. A commercial sewing machine was purchased so that the vinyl could be repaired in house. That saves several days—repairs can be made overnight and the inflatable is ready the next morning. Most mechanical issues and equipment maintenance are handled by the owner himself if it doesn’t need to be outsourced. A hands-on business was what he was looking for, but confidence in the staff also means that he doesn’t have to be there all day.

These changes are positive, but there are some things that will not change. Weekends are often booked with parties, so there is a strong commitment to continuing to provide family bounce on Tuesday nights and Parent’s Night Out every other Friday. These things are popular with families, so parties will not be scheduled during those times. This is all part of the focus on what customers want. The goal is to continue to grow and have more inflatables so more kids can bounce; but if there is no opportunity for families to be there together, then that can’t happen.

business he wanted to buy. After not finding what he was looking for in those industries, he decided to change his way of thinking. “When a different type of business was presented, I tried to think about what others were seeing that made them think it was the right fit for me.”

His advice to prospective buyers has stayed the same: be open to the possibilities, because you never know when the right opportunity will come along. When you find it, don’t be afraid to take the next step or it may pass you by. He wouldn’t change the process he went through, even though it took some time to find Bounce U. Looking back, he made the right choice. “My wife says I come home energized after being there. When the kids come for field trips and birthday parties, you can see the excitement on their faces. It’s really a great thing.”

THE FIRM

The Firm Deal Review Location: 11144 Q St., Omaha, NE Years Owned: 2 Activities: Birthday parties, open bounce and more Business Plan: Have fun and grow

Bounce U was not the first business he considered; in fact, it took three years to find it. Rachwalik came into the process with what he describes as a narrow focus on the type of Fall 2017

The Firm Deal Review 11

A Publication of The Firm Business Brokerage

Industry Consolidation

The Story of Marcotte Insurance written by Maureen Tierney

from many major providers, and as such can offer reduced premiums and substantially more affordable prices.

How does this benefit Marcotte since ev-

W

hen it comes to planning growth projections, many companies focus on adding more customers or team members to increase earnings and streamline services. What’s often forgotten is the immense benefit of acquisition. While it may seem more cost efficient to expand organically, the long-term financial gain of acquiring a sister company should outpace the growth of internal development.

Economists and financial gurus refer to this as industry consolidation. While the term sounds impressive, the process, and theory, is much simpler. The purpose of acquisition is to increase earnings and drive down costs for the buying company. It also works to make for a competitive market.

MANY SMALLER INSURANCE COMPANIES ARE MOVING AWAY FROM HEALTH POLICIES, MOSTLY DUE TO THE RESTRICTIONS AROUND, AND GENERAL UNCERTAINTIES ABOUT, THE AFFORDABLE CARE ACT. Many smaller insurance companies are

There are several fields that practice industry consolidation, most notably the arenas of printing, dentistry, and insurance. Let’s focus on insurance for the moment, and take into account Marcotte Insurance, an Omaha-based powerhouse since 1927. With a myriad of products available and a heavy presence in the local marketplace, it may seem unnecessary for a company of Marcotte’s size to consider acquiring much smaller entities. But, that is exactly what they are doing.

12 The Firm Deal Review

Fall 2017

moving away from health policies, mostly due to the restrictions around, and general uncertainties about, the Affordable Care Act. Property and casualty policies are becoming the bread and butter for these businesses, but most fall under the umbrella of captive providers. An agent for a brand name provider can only offer their provider’s policies, and is therefore limited when it comes to premiums and pricing. Marcotte, who works in the non-captive sector, is an insurance brokerage representing policies

erything seems stacked in the customer’s favor?

With offices in Omaha and Kearney, Marcotte is well-known in both cities. The miles in between offer many untapped clients. The policy holders in these areas are more likely to buy insurance from captive entities, or policies with much steeper premiums from non-captive agencies.

Customers, due to the lack of options, are essentially in a market desert. Marcotte’s goal is to purchase the independent agencies, and, with their buying power, reduce premiums while gaining a whole new client base. Policyholders keep more money in their pockets, and Marcotte expands its books and income. The marketplace becomes more stabilized and captive agencies are forced to compete.

However, not just any independent agency is a target. There are parameters to determine the ideal candidates:

• $400,000 to $4,000,000 in revenue • A staff of 5 to 15 employees • 2 to 3 years of owner transition • A location along the I-80 corridor between Omaha and Kearney

These resume requirements are the stepping stones to acquisition. It may seem easier to simply lease a small office space and set up shop, but buying an existing agency is an immediate opportunity to reach customers.

There is also the added benefit of skilled and trained employees in place, removing the hassle of having to staff an entirely new outfit. As with any endeavor, the weighing of pros and cons should come into play, but far more often than not, the path to acquisition will prove the more worthwhile approach to financial gain.

THE FIRM

A Publication of The Firm Business Brokerage

The Secret Sauce of Success Three Friends Join Forces to Own a Lincoln Pizza Parlor written by Maureen Tierney

S

ince 1982, Lincoln has been treated to the homestyle recipes of Dick and Diane Burner’s grandmother. The dough and sauces are guarded secrets, made in traditional ways brought over from Italy, but the atmosphere is a uniquely American twist on the Italian trattoria, with a Midwestern flair thrown into the mix. Where you might expect décor influenced by New York-style pizzerias, you’ll find a modest approach. The focus is on the food and the family spirit, which is really what Italian food is all about.

HONKE AND RILEY KNEW THEN THAT THIS WAS THE PERFECT RESTAURANT TO INVEST IN. IF QUINTERO LOVED AND TRUSTED IT, THEY WOULD TRUST HIM TO RUN IT. What drew Piezano’s new owners to the restaurant was a chance to participate in a Lincoln tradition. As young men in the Phi Kappa Theta fraternity at the University of Nebraska-Lincoln, Colby Honke, Ryan Riley and Matt Quintero could hardly know that they would one day own stake in a family restaurant. For Riley and Honke, Piezano’s was the first stepping stone on their long path of entrepreneurship.

For Quintero, someone who loves few things more than pizza, the dream of owning his own restaurant became a delightful reality.

While all that sounds like a “happily ever after,” the road to owning Piezano’s has not been easy for these three. They began looking for an opportunity long before they were aware

Piezano’s was for sale. “We would check out other listings, but we never found that fit,” Honke says. It was when The Firm’s Brokerage Principal Rene Rademacher mentioned the Piezano’s opportunity that Honke and Riley had their lightbulb moment.

“We contacted Matt [Quintero], who just a couple of days before had mentioned that if he were to open a restaurant, he would want one just like Piezano’s,” Honke says. Quintero, who had worked as a server and assistant general manager at another Lincoln favorite, had grown to love Piezano’s over a summer-long experience. Each week, Quintero and a group of pizza lovers went on a “Pizza Walkabout” and tasted the menus of Lincoln pizzerias to experience the local flavor. Honke and Riley knew then that this was the perfect restaurant to invest in. If Quintero loved and trusted it, they would trust him to run it.

Riley and Honke, who plan to expand their investment portfolio for years to come, are part of an entrepreneurial community “of creative types with a variety of different products.”

Many of their friends are “doing entrepreneurial things,” and investing in a restaurant is a learning experience that gets their creative juices flowing. The three pals spend around 15 to 20 hours each week discussing the back office operations of Piezano’s, dreaming up how to imprint their mark on the restaurant without erasing the identity of the restaurant. “Piezano’s is a 35-year-old Lincoln tradition, and we don’t want to mess with that,” Honke says.

When Honke and Riley asked Quintero to join them in owning a restaurant, they wanted to “work in a restaurant with generations of customers who love the food and atmosphere,” and that’s exactly what Piezano’s delivers. Quintero’s love of the place and years in the industry give him an expertise that has made their transition all the easier. They’ve also benefited from the fact that everything is already in place and runs like clockwork. On the day the three officially became the new owners, “Piezano’s

opened at 11 o’clock and we met at 5 p.m. to introduce ourselves to the staff,” Honke says. It also helped that previous owner Greg Friesen was on hand for the first few weeks to ease the staff into working with their new management.

The three agreed to not change much right away, but they do plan on increasing lunch hours and adding breadsticks to the menu.

In the end, Piezano’s seems to have become a home for three young men who are “exceptionally proud to own something with a rich history.” Passion is a large part of a good investment for Honke, Riley, and Quintero, which makes it worth their while. Much like the Italian recipes that differentiate Piezano’s from the cookie-cutter options out there, the journey and tradition of a place is important to the success it sees down the road. THE FIRM

The Firm Deal Review Reason for Purchase: Investment Financing: First National Bank Days on the Market: 93 Buyers: Three Fraternity Brothers

Fall 2017

The Firm Deal Review 13

A Publication of The Firm Business Brokerage

Looking for Financing?

WHY AN SBA LOAN MAY BE A GOOD OPTION FOR YOUR BUSINESS written by Katie Todd, senior business relationship manager, Wells Fargo

A

recent survey by Wells Fargo shows small business owners have more optimism and confidence today than at any point in the last 10 years. The increase in optimism was driven in part by how business owners rated their current financial situation, and their expectations that their finances, business revenue, and cash flow will improve in the next 12 months.

A RECENT SURVEY BY WELLS FARGO SHOWS SMALL BUSINESS OWNERS HAVE MORE OPTIMISM AND CONFIDENCE TODAY THAN AT ANY POINT IN THE LAST 10 YEARS. - Katie Todd, senior business relationship manager, Wells Fargo

Business Administration (SBA), which does not directly make loans, provides a guarantee for SBA loans made to small businesses by banks and other lending institutions. Because the SBA guarantees a portion of the 7(a) and 504 loans, SBA lenders are able to offer an alternative to creditworthy businesses that may not be able to obtain conventional bank financing.

BASIC USES If you apply for, and are awarded, a 7(a) loan, you can use the loan proceeds to help finance a large variety of business purposes. Typical uses of a 7(a) loan, which has a maximum amount of $5 million, include the following:

• To assist in the acquisition, operation, or expansion of an existing business

• To establish a new business or assist in the acquisition, operation, or expansion of an existing business

• To refinance existing business debt, under certain conditions

ADVANTAGES The 7(a) loan program offers businesses As business owners see an improving economy in 2017, some may seek credit to support the expansion of their businesses. How does an SBA loan fit into the mix of financing choices for small businesses?

Small business owners today have a range of financing options to consider for their specific needs, including conventional business term loans and government-guaranteed term loans. If a small business needs funds for a real estate purchase and expansion, or to acquire another business and manage cash flow, the SBA 7(a) term loan is a great option to consider.

Here are a few quick facts on SBA 7(a) loan programs, and what type of business should consider pursuing this financing.

WHY THE SBA LOAN PROGRAMS? This year, thousands of America’s 28 million small business owners will turn to the SBA 7(a) and 504 programs for financing. The U.S. Small

14 The Firm Deal Review

Fall 2017

immediate and long-term benefits. Some of the benefits include longer terms and lower down payments, compared to other types of business financing. With longer terms, business owners typically have lower monthly payments, which allow them to retain working capital and maximize cash flow.

TERMS

Depending on the transaction type, lenders may also ask for a comprehensive business plan that clearly states the goals and objectives for the business, as well as information about your experience and management capabilities.

Wells Fargo Bank can give specific support in preparing or updating a business plan.

THE BEST WAY TO K NOW IF AN SBA LOAN IS THE R IGHT OP TION FOR YOUR BUSINESS IS TO TALK W ITH YOUR BANK ER. - Katie Todd

According to statistics compiled by the U.S. SBA, approximately 95 percent of all small businesses are eligible for SBA financing. To ensure the success of an SBA loan request, a business owner should look for a bank that is part of the SBA “preferred lenders program” (PLP), as PLP providers have been delegated by the SBA for loan approvals, closing, and servicing authority. As experts in the field, SBA loan officers at banks have the knowledge and experience to streamline the application process and can determine the best program for your needs.

The best way to know if an SBA loan is the right option for your business is to talk with your banker. A full-service provider of financial services can you help you evaluate all of your financing options, including SBA loan products, and provide guidance to help your company achieve new levels of success. In an improving economy, creditworthy small businesses have the opportunity to secure a great loan product with excellent terms, and use the financing to help make 2017 the launching pad for future success.

THE FIRM

A Publication of The Firm Business Brokerage

Executive Impact CONFIDENTIALITY IS THE CORE OF GOOD BUSINESS written by Susanne Miller, in-house legal counsel

I

n today’s electronic world, there is more information readily available to the public.

While transparency can be useful in some instances, when it comes to selling a business, letting too many people know about the sale can have a negative impact on the continuing operation of the business.

ONE OF THE CORE VALUES OF THE FIRM BUSINESS BROKERAGE IS “ALWAYS CONFIDENTIAL.” THIS IS NOT JUST A CATCHPHRASE; THIS IS A NECESSARY WAY OF DOING BUSINESS.

When privately placing a business, generic information is used unless a seller specifically gives approval to use the business name or other identifying information. Private placement activities are conducted to attract prospective purchasers, not to let the world know that the business is for sale. Until a qualified buyer has met with The Firm and signed a release, identifying business information will not be provided.

The Firm takes it a step further and safeguards certain information, such as data about customers and employees, until a contingent offer to purchase has been submitted and accepted.

- Susanne Miller, in-house legal counsel at The Firm

Why do we have such procedures in place?

Because a seller can have a great deal at stake when they list a business for sale, and during the process the business must continue to operate.

Consider these possibilities:

• Employees learn that the business is for sale and leave their positions.

• Customers learn that the business is for sale and take their business elsewhere.

• Customers take business elsewhere not

• Competitors learn that the business is

knowing the level of service they will receive under a new owner.

for sale and actively target both employees and customers.

• Competitors use the transfer of ownership

All these scenarios mean that the business

to their advantage by playing on the “unknown” future of the business.

will suffer, making a sale more difficult.

These are the same stakeholders that the The seller is not the only person who has an interest in keeping things confidential. A buyer may want to purchase a business for different reasons, such as a new career, the expansion of an existing business, or achieving a life-long goal. Again, there are several possibilities to consider:

seller is concerned about. In this case, however, the buyer looks at the long-term value of their purchase versus the value under current operations. Either way, the outcome on the current and continuing operations of the business can be substantial.

If it is so important to keep things confidential, • An employer finds out that you plan on leaving and there is no firm exit plan in place.

• Employees move on to another opportunity because they like the status quo.

how does the information get out? Sometimes a business owner or potential buyer wants to tell others about the plan so that they get the information directly from the source. In other cases, a person “in the know” lets it slip in con-

versation. Rarely does it come from the broker, as there are so many safeguards, including the standard use of confidentiality agreements and stringent buyer qualification processes, in place.

One of the core values of The Firm Business Brokerage is “always confidential.” This is not just a catchphrase; this is a necessary way of doing business. When meeting with a prospective seller or buyer, this topic is discussed in detail and a confidentiality agreement between the parties is signed before any further discussion occurs. This is the first step in building trust, and one that our clients expect and deserve. The formation of the business relationship can only exist if it is based on trust between parties. If a seller or buyer does not trust the broker, or they don’t trust each other, then the relationship will not be beneficial and the ultimate goal—the sale or purchase of the business—may never be reached.

THE FIRM Fall 2017

The Firm Deal Review 15

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Call Us Today: (800) 377-6085 16 The Firm Deal Review

Fall 2017

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omahamagazine.com FALL 2017 |

SALES INSIDER

BY KARL SCHAPHORST

GET UP OFF YOUR KNEES

Stop begging for business. Stop running around doing everything the prospect asks you and sending thank you cards and trinkets because you think all of that extramile activity will get you sales.

Stop sending out proposals and offering presentations to anybody and everybody. Stop cutting your prices or increasing the offering at the same price. You simply don’t have the time or the money to do all that extra work for every prospect that winks at you.

Don't waste time. If the prospect won’t give me the time needed to rightfully assess the fit of my product, then what’s the point? I ask to reschedule or end it all together.

Establish for yourself a “salesperson’s bill of rights.” Come up with a list of rules that the prospect must follow—or you will get up and walk out on the sale. You heard me right. Not everybody deserves to have the privilege of buying your product or service and it is better to identify the bad prospects early in the sales dance. The salesperson’s bill of rights will help you in sorting out the prospects who are likely buyers from those who are just window shopping.

No chasing. Prospects need to give me clear next steps at the end of the sales call if they are going to remain in my pipeline. They will agree to schedule another meeting to continue the evaluation of my service, they will tell me they want to buy it, or they will tell me they don’t want it. But they can’t tell me to “call me in a week after I have thought about it.”

To help you with this, I will share with you my salesperson’s bill of rights: Have trust. It is not difficult to see when there is no trust in the call.

The body language and tonality of the prospect will give them away.

Get qualifications. Unless prospects can prove they have a real need for what I sell, have money to pay for it, and can make a decision about buying it, I start ending the call.

Karl Schaphorst is a 27year veteran of sales who now specializes in training other sales professionals.

He is the president of Sandler Training.

No free consulting. Prospects want to know what you know because it has real value, but they don’t want to pay for it. If you are going to present your intellectual property to a prospect, make sure they commit to buying it if they like what you have and can afford it.

I have other rules in my bill of rights, but hopefully what you have read will help you build your own bill of rights. If you make good rules that prospects must follow in order to have your product or service, and then be disciplined in adhering to those rules, you will have made a big step toward professional selling.

You will be facing your prospects eye to eye, which is how professionals do business.

B2B

BRAND BRIEF

65

BY JASON FOX

THE IMPORTANCE OF BEING LESS EARNEST I know why these spots exist.

Stop me if you’ve seen this one: Open on a shallow depth-of-field shot of a business owner, dentist, or HVAC repair technician. They begin: At AAA Acme Services, we know your schedule is busy. Cut to a montage of concerned customers nodding as AAAAS “team members“ show them clipboards and point at mechanical looking things and/or computer screens. “That’s why we put your needs first. Because we care. About you.“ Cut to smiling customers shaking hands with AAAAS “team members.“ Cut to shot of a youth receiving a sucker or “AAAAS Junior Team Member” cap. “At AAA Acme Services, we’re just neighbors helping neighbors by being neighborly because that’s what neighbors do.“ End on logo with tagline “Our best service is serving you.”

The question is not whether you’ve recently seen a commercial constructed like the above, but how many you’ve seen since waking up today. Like a fool, I exercise at an unholy hour of the morning (looking this average takes effort, folks) and often find myself watching the local news while working out. Over any given 30-minute stretch, I am liable to see five or six prime examples of what I call “overly earnest advertising.“ Always sincere. Always well-intentioned. Always making me yearn for the traffic report, even though I work from home.

To be fair, some of these spots are very well-produced. Many of the real people in them seem genuinely, well, real. But that’s not the issue. The issue is that well-made wallpaper is still wallpaper. And given its cost of entry on even a local scale, advertising cannot afford to be wallpaper.

They’re relatively cheap to produce and require little in the way of pesky “creative services fees.“ Businesses want to be seen as relatable, knowledgeable, and trustworthy.

Worthy attributes all companies should aspire to embody. But there’s a difference between illustrating said character traits and merely telling people you possess them. To tell people you possess these traits in a manner that has long since lost the ability to attract ears and eyeballs just sets these businesses up for low levels of success. (Why not failure?

Because just about any advertising is better than no advertising.)

It just is not enough for advertising to be sincere. Regardless of how honest you are, you are still someone trying to get someone else’s money.

As such, consumers’ defenses are always at WOPR-induced levels.

Want to be seen as likable? Make a likable ad. Want to be seen as trustworthy? Show people they can trust you with their time by not wasting even 30 seconds of it with a bad ad. It matters. Advertising, if it has any hope of achieving longterm effectiveness, must reflect the personality of the brand as it sells. It cannot merely promise a good experience, it must itself be a good experience. Because a good experience is a memorable experience. People only hire or buy from companies they remember.

I promise. Sincerely.

B2B

Jason Fox is a freelance creative director and writer.

He can be found at jasonfox.net and adsavior.com.

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volume 17 | issue 3

B2B OMAHA MAGAZINE

66

LEADERS | BY BLAIR EMSICK | PHOTOGRAPHY BY BILL SITZMANN

IT’S IN THE FAMILY OMAHA STEAKS

For Bob Bezousek, Omaha Steaks is a family affair. Bezousek can boast having worked for Omaha Steaks for an impressive 47 years. During that time, Bezousek’s two brothers, sister, and brother-in-law have all worked for Omaha Steaks, as well as a few nieces, nephews, and his son, B.J. Bezousek recalls, when he first started dating his now-wife, having to interrupt a date to stop by the plant. “Our children and grandchildren have all been born during my time here—it’s been a great ride,“ Bezousek says.

Bezousek began working part time at Omaha Steaks in 1969 as a utility worker. Today, he is the vice president of production and oversees three plants, two in Omaha and one in Snyder, Nebraska. He directs close to 500 employees who manufacture products that yield an amazing $450 million in annual sales.

Today the name Omaha Steaks is known around the country and the world, yet when Bezousek began working there, it was still a relatively small family-owned business. Bezousek remembers when Alan Simon, fourth-generation family owner and current chairman of the board, used to help him with his accounting homework after Bezousek would finish his shift at the plant. “He is an amazing mentor,“ Bezousek says.

Between the years of 1995 and 2005, the Bezouseks witnessed the company double in size.

“We were experiencing double-digit growth during this time period, so it necessitated being more creative in our production methods. We were adding departments that we had never imagined needing before,“ Bezousek says. B.J., who began working for Omaha Steaks in 1994, contributes much of the company’s growth during this time to their web-based marketing, which began in

1995. Omaha Steaks had been selling products by mail order since the 1950s, however, going online helped to broaden their reach significantly and attract new customers.

B.J. didn't realize the full scope of the company's growth until he was asked to provide and cook steaks for George W. Bush and the people aboard Air Force One while he was working the Omaha Steaks booth at the College World Series in 2001.

“It was at this time that I found out the Bush family loves Omaha Steaks products and really loved the beef jerky,“ B.J. says. “I will say this, though, it is a new kind of pressure having the Secret Service monitoring you while you prepare food on short notice for the president of the United States.“ What keeps someone working at the same place for almost 50 years? Supplying the nation with delicious steaks, apparently. “I have had life changing moments ever since I started here, such as meeting James Beard, Julia Child, and many other renowned chefs,“ Bezousek says.

Other highlights over the past 50 years include the opportunity to meet thousands of wonderful people and working in a challenging yet rewarding environment. “Overall, I’m proud of the fact that my dad and brothers worked in the meat business and that my son and I have continued that tradition—it’s now a family affair,“ Bezousek says.

CONT. PAGE 68

Mary wears her passion on her sleeve … make that her arm. omahamagazine.com FALL 2017 |

67

From left: B.J. and Bob Bezousek

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volume 17 | issue 3

B2B OMAHA MAGAZINE

FROM PAGE 67

Omaha Steaks’ Sizzling Centennial Flat Roof Specialists New • Repairs • Reroof • Skylights

30 Years of Quality, Integrity and Service

THANK YOU OMAHA for voting us Best Roofer again!

The Bezousek family has become a legacy in an Omaha business legacy.

Omaha Steaks cuts the meat, ages it, freezes and packages it, then sends it straight to customers’ front doors. This may sound like an odd business model, but is one that continues to yields almost $350 million in annual sales for Omaha Steaks.

Mail order meals have become trendy recently, yet Omaha Steaks began their direct meal-toconsumer business in the 1950s.

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Omaha Steaks opened in August 1917 as Table Supply Meat Co. after Latvian immigrant J.J. Simon bought an old table supply store to begin his butcher shop. It was named as such because it was more affordable to simply insert the word "Meat" into the building’s original sign than to have a new sign created. They began garnering nationwide attention in the 1940s when Union Pacific Railroad started serving the steaks on their passenger trains from Omaha to the West Coast.

In the late 1980s Omaha Steaks products traveled around the world, served for meals on flights and cruise ships. Despite their success, until the 1990s Omaha Steaks remained a family-run business.

Between 1995 and 2005 the company grew to four times its size. "We woke up one day and realized we had a really important national brand," says vice president Todd Simon, "That was when we started thinking big about the business."

Since then, Omaha Steaks has become a household name around the nation for its novelty, convenience, and deliciousness. "People come together around the dinner table to enjoy their friends and family," Simon says. "We are very proud of the 100 years in which we have been a part of that important ritual of bringing people together."

Visit omahasteaks.com for more information.

B2B

omahamagazine.com FALL 2017 |

CORPORATE PSYCHOLOGY

BY LAUREN WEIVODA

DON’T LEAVE HIRING UP TO CHANCE Hiring the right people is critical to an organization’s success. A poor hiring process can lead to increased turnover, poor work performance, decreased morale, worker compensation claims, and decreased customer satisfaction and loyalty.

Hiring the right people is easier said than done. Unfortunately, bad hires are often made because people rely on their “gut“ or intuition.

Perhaps the candidate wore the “right“ outfit on interview day or said the “right“ things to a series of random questions. In fact, making a selection decision based on an unstructured interview is about as predictive as flipping a coin—you may get a good hire, you may get a bad one. Who wants to leave such a critical decision up to chance?

Although no selection method or process can absolutely guarantee success, you can increase your odds of accurately predicting candidate success by using valid selection tools and taking a multi-method approach. By gathering information using multiple valid methods, you can create a more complete, reliable picture of a candidate upon which to make your selection decision.

Next, consider using a structured, behavior-based interview to look for specific evidence of the required behaviors and skills. You can also use the interview to verify assessment results and probe further into any red flags or murky results.

Once you have collected information from the assessments, interview, and any additional selection techniques you have used (e.g., applications, phone screens, references, background checks, additional interviews), determine whether the candidates’ skills and characteristics match those needed for the job, and evaluate how the candidates will fit into the organization’s culture. Then offer the position to the one who demonstrates the best fit.

Investing in a reliable, valid, multi-method selection system will increase the likelihood that candidates you hire will be successful in their roles. Although it may cost more money and time up front, the long-term benefits (e.g., higher retention, better employee performance, enhanced company reputation) of using a rigorous selection process greatly outweigh the short-term costs.

B2B

Start by defining what knowledge, skills, abilities, and other characteristics are necessary to excel in the role and fit into the organizational culture. The goal is to measure the characteristics (e.g., analytical, flexible, conscientious) that are likely to lead to effective job performance.

Then consider using psychological assessments to examine candidates’ characteristics and talents. It is important to use assessments that are appropriate, reliable, and valid for the position for which you’re hiring.

Lauren Weivoda, M.A., is a​ ​human​ ​capital​ ​ strategist​​ at Solve Consulting LLC.

69

OFFICE FURNITURE

BY DOUG SCHURING

OPEN OFFICES—A THING OF THE PAST? Since the height of the “cube“ in the 1990s, many companies have lowered panel heights to create more open, collaborative spaces.

The added benefits, for the company, are that they conserve space, reduce costs, and improve communications.

By the early 20-teens, workers were situated in attractively cavernous rooms without walls. It remains open to discussion whether employees can function effectively in these layouts.

Now the backlash against open offices has begun. Major systems furniture manufacturers are developing products enclosing spaces for the introverts and the departments that need privacy.

Some tech companies are rethinking their open plans. Few are ready to give up on the open office completely.

Early on, the open office style appealed to tech companies, especia lly start-ups. This arrangement then spread to larger companies. In hot real-estate markets, it makes good economic sense. There’s a big difference in the cost of office space by going from 250-square-feet per person to 110-square-feet, or fewer, per person.

While open offices may have other advantages—improved communication and creating a sense of a team—it is hard to concentrate for long periods of time. For many, the difficulty lies in adjusting to an open office when you are used to having privacy. That's where the backlash comes in.

Gen Xers and baby boomers in conventional roles are struggling with the increased noise and visual distractions these spaces generate.

For many, the workspace has become polluted with limitless sounds and sights.

What does the new breed of office look like? It’s a reasonable compromise between open and enclosed spaces.

Furniture manufacturers today are developing products that fit in phone booth-sized rooms for quiet work time. Not to be used all day, they are accessible when a certain project or task requires it. For group work, many companies today have multiple, smaller conference rooms rather than the one large boardroom.

These are more efficient, functional, and appropriate for how work is done today.

Different groups in an office have diverse expectations. Engineers might seek focused, quiet spaces, while sales and marketing employees may thrive in shared settings.

Balance is key.

Don’t expect low panels and open plan systems to go away completely.

They are appropriate for how many companies conduct their business.

Successful businesses will keep adapting to find that appropriate balance of open-plan and private spaces that work for them.

B2B

Doug Schuring is the director of sales administration at All Makes Office

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B2B OMAHA MAGAZINE

volume 17 | issue 3

70

BIZ + GIVING | BY SEAN MCCARTHY | PHOTOGRAPHY BY BILL SITZMANN

OMAHA’S SALVATION FOR MANY MAJORS GREG AND LEE ANN THOMPSON LEAD THE WAY IN CHARITABLE ORGANIZATION

omahamagazine.com FALL 2017 |

71

“EVERYTHING WE DO EMANATES FROM OUR BELIEF THAT GOD HAS CALLED US TO HELP MANKIND” -MAJOR GREG THOMPSON

The Salvation Army is certainly a legacy in Omaha, having started around 1912, two years before World War I began. The international organization was founded in London in 1865.

Fast forward through a Great Depression, a second world war, a Cold War, and the advent of computers and the internet. The Salvation Army’s mission has essentially remained unchanged — provide shelter to the needy, food for the hungry, and medicine for the sick.

“I-80 IS A MASSIVE CORRIDOR FOR THAT (HUMAN TRAFFICKING).

AND PEOPLE THINK IT’S NOT REAL, BUT IT IS. IT’S VERY, VERY REAL,”

Today, Omaha’s Salvation Army is headed by Majors Greg and Lee Ann Thompson. They both serve as divisional leaders of the Salvation Army’s western division, which includes Nebraska, Iowa, and South Dakota. They both came to the Salvation Army at an early age. Lee Ann’s mother, Jan Bloom, volunteered at the Salvation Army in their hometown in Minnesota, and Lee Ann attended the organization’s youth group. Greg, who was born in Omaha, was brought into the organization when he was barely a week old.

“I was carried in,“ Thompson says with a laugh.

-MAJOR GREG THOMPSON Greg, who left Omaha with his family at age 8, met Lee Ann at a Salvation Army camp in Minneapolis in 1981. In 1999, they came to Omaha, where they were appointed divisional youth secretaries.

Unlike many charitable organizations, the Salvation Army is set up in a quasi-military style of management, where positions are appointed.

Many people are unaware that The Salvation Army is a Protestant church, with 11 core beliefs that align with many Christian churches. Greg’s parents, Paul and Alma Thompson, were members of the church. This is why employees tend to view their roles as vocations instead of jobs.

“God called us to be Salvation Army officers,“ says Greg.

Having a presence in three different centuries, The Salvation Army has dispatched volunteers to victims of floods, fires, and tornadoes since its founding. Throughout the past 20 years, the organization has shifted some of their resources to address more contemporary issues. Funding and personnel for teen pregnancy services has been reallocated to mental health and human trafficking.

For human trafficking, law enforcement routinely reach out to The Salvation Army’s case workers to help victims.

“I-80 is a massive corridor for [human trafficking].

And people think it’s not real, but it is. It’s very, very real,“ Thompson says.

Local and national investigations into organizations like The Red Cross and Goodwill have put greater attention to how organizations spend donation dollars. Forbes magazine ranked The Salvation Army as the fourth largest charity in the United States, with a total revenue of almost $3 billion. Nationally, it’s estimated that 82 cents out of every dollar donated to the Salvation Army goes directly toward relief campaigns (the other 18 cents are dedicated to salaries and other overhead expenses).

The percentage is even higher in Omaha, says Susan Eustice, divisional director of public relations and communications. Eustice says Omaha’s figure is closer to 87 cents out of every dollar. This figure is determined by subtracting Omaha’s actual program expenses (including salaries) from the end of year revenue The Salvation Army generates.

Some of the funds have been used to modernize The Salvation Army’s presence in Omaha. One major campaign includes rebuilding their campus at 36th and Cuming streets. A second includes doubling their capacity for the mental health respite program.

“Everything we do emanates from our belief that God has called us to help mankind,“ Lee Ann says.

Visit salarmyomaha.org for more information.

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volume 17 | issue 3

FEATURE | BY GREG JERRETT | ILLUSTRATION BY DEREK JOY

SOCIAL RESPONSIBILITY VS. ACTIVIST INVESTING SHAREHOLDER ACTIVITISM IN THE COMMUNITY Activist investing. What is it? Who does it? Is it effective?

Does it work?

As with anything, the answer to most of these questions is situational. According to the qz.com article “The 10 activist investors you should know,” whether activist investors are good or bad for companies and shareholders is a debate for the ages: “Are they short-term bettors who cause drama and then get out of a stock as soon as shares see a pop? Or are they constructive critics who add value, partly by pushing executives and boards to do things they are too complacent to do otherwise?”

A shareholder activist is a person who attempts to use his or her rights as a shareholder of a publicly-traded corporation to bring about change, according to investopedia.com. Issues addressed by activist investors, hypothetically, might focus on the environment, sweatshops, investment in politically “sensitive” parts of the world, and other issues surrounding worker and animal rights. However, the term “activist investor“ generally refers to institutional investors wishing to maximize their own profits (often in the short term).

For example, Cabela’s sale to Bass Pro Shops was a deal pushed by New York hedge fund Elliott Management. In October 2016, after the sale was confirmed, Elliott Management was cashing out its 6 million shares for an expected $90 million in profit. The effect of this move on the employees residing in, and the community of, Sidney, Nebraska, was not the hedge fund's concern.

According to Dr. Ernie Goss, who holds the MacAllister Chair in Economics at the department of economics and finance at Creighton University, “An activist investor is a person who owns enough shares to bring some issues before the board and force some changes on the board or in company operations…As an economist, I would have some issues with activist investors who take positions that are contrary to the overall, which is long-term shareholder value. In other words the goal of a corporation is long-term stakeholder and shareholder value.”

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It is bad business, Goss says, to ignore community and employee stakeholders because one does not maximize shareholder value. “There's a reason that ConAgra and Union Pacific and Mutual of Omaha give money to nonprofits, and that's to maximize shareholder value,” Goss says. “In the short run, it reduces shareholder value, but in the long run it does contribute to shareholder value. So the goal of the board of directors and the management of a corporation is to maximize long-term shareholder value and stakeholder value as well. Other stakeholders that aren't shareholders include the community, the employees, of course, and the environment.”

Union Pacific and ConAgra's community philanthropy reflects a trend for corporate social responsibility.

An interesting example of activist investing, which advances a social or cultural activist agenda, occurred in March 2017 when the animal rights group People for the Ethical Treatment of Animals became a shareholder in the clothing company Canada Goose. According to PETA’s executive vice president Tracy Reiman, “PETA became a shareholder in Canada Goose in order to pressure the company from the inside to stop using cruellyobtained coyote fur and down. Coyotes trapped

“AN ACTIVIST INVESTOR IS A PERSON WHO OWNS ENOUGH SHARES TO BRING SOME ISSUES BEFORE THE BOARD AND FORCE SOME CHANGES ON THE BOARD OR IN COMPANY OPERATIONS… AS AN ECONOMIST, I WOULD HAVE SOME ISSUES WITH ACTIVIST INVESTORS WHO TAKE POSITIONS THAT ARE CONTRARY TO THE OVERALL WHICH IS LONG-TERM SHAREHOLDER VALUE. IN OTHER WORDS THE GOAL OF A CORPORATION IS LONG-TERM STAKEHOLDER AND SHAREHOLDER VALUE.” -ERNIE GOSS

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in the wild can suffer for days before being shot, stomped on, or bludgeoned to death, and geese used to stuff Canada Goose jackets are violently killed for both their feathers and flesh—and the throats of many are slit while they're still conscious and able to feel pain.” While it may seem quite a leap from storefront demonstrations at Canada Goose locations to the boardroom, PETA plans to use basically the same strategy used by Elliott Management (in the sale of Cabela's to Bass Pro) to push the company in a “cruelty-free” direction.

CONT. PAGE 75

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Activist investing is an interesting tactic and one which has as much chance of succeeding as any other corporate takeover, with certain caveats.

Activist investors, regardless of their intention, still need to maintain shareholder value in order to further their goals. In other words, for PETA to “be the change it wants to see in the world,” it still needs to behave in the best interest of its shareholders and stakeholders. Otherwise, according to Goss: “What would happen would be contrary to the goals of the corporation and to PETA, because ultimately that's not good for shareholder value and ultimately that corporation is going to have less and less influence because they're pursuing goals that might be contrary to the overall long-term goal, which is shareholder value. Because ultimately if the stock price keeps coming down, then PETA owns shares that are coming down in value.”

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PETA could inadvertently be self-defeating while successfully achieving their primary goal of ending the use of animals in Canada Goose products, as insistent consumers might simply go elsewhere for goose down and wild coyote fur parkas. It's a delicate balancing act.

Regardless of its efficacy as an investment strategy, many investors don't like to call themselves “activist,“ according to cfo.com, because activist investing is just one style among many, and while growing in popularity, less than 10 percent of 8,800 hedge funds worldwide were activist.

Visit elliottmgmt.com or peta.org for more information about the shareholder activitsts discussed in this article.

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ON THE RISE | BY PATRICK MCGEE | PHOTOGRAPHY BY BILL SITZMANN

NOT-SO-SECRET TRAITS OF EARLY SUCCESS DAN HAMILTON

volume 17 | issue 3

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Dan Hamilton is a service manager in the automotive industry—and he’s about 10 years younger than the average person in that position.

Duane Singleton of Baxter Volkswagen La Vista says that shows a high level of aptitude.

Hamilton attributes his early success to supportive people along the way noticing and nurturing his ability to lead people. “They gave me an opportunity, and I did everything I could to run with it,” he says. Attributing his success to others is a common theme in Hamilton's story.

At 26, he is married with a big family—a wife and 13-month-old in a new home, and a department of 16 personnel at H&H Chevrolet. He describes himself as “the point man for the dealership.” He is the liaison between customer and technician, and leads a team to do the same. “For the most part it’s a customer service job,” Hamilton says. However, Hamilton is also responsible for delegating tasks to his personnel and helping them solve problems.

“At the end of the day, those 16 people come to see me when there's a big problem.”

The big secret, he says, is “giving your time and effort to listen.” He reports that listening can turn around an unhappy customer. He boosts his team's morale and encourages good work. “My success is solely rooted in the success of others,” he says. Whether dealing with customers or colleagues, Hamilton emphasizes “caring about individuals—their needs and their wants.” He reports that these attributes come naturally to him. They make him an excellent service manager.

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But they can wear down anyone. “My single best attribute is not to get beat down,” he says. “It takes a lot to crack me most of the time.”

CONT. PAGE 78

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FROM PAGE 7 7 “Having a smile on your face,” also ranks up there, according to Hamilton, noting that, “things get pretty down sometimes.” Hamilton oversees a lot of tasks. “Time management is important,” he says.

Of course, hard work and experience rank highly.

With great responsibility comes voluminous paperwork. “I do a lot,” Hamilton says of pencil-pushing.

Hamilton is proof that one doesn't have to take the traditional path to success. Coming out of high school, he had a passion for cars. After spending a year in a traditional college, he realized academics were not for him. The classroom setting did not give him what he needed. He studied auto body at Metro Community College and fell into his crowd of automotive gurus. He worked as a valet, then in a service riding position. He excelled at service riding because he enjoys helping others and makes sure to listen to them. That is why the opportunity presented itself and he was selected as manager.

Hamilton says he has received noteworthy marks in his accreditation from auto manufacturers, but nothing to brag about; for him the proof really is in his work.

At 19 years old, Hamilton saw the job “at face value.” He didn't know his entry into the automotive industry would turn into a career.

Foresight didn't earn him his success—leadership and listening did. He has held his job as service manager for more than a year and a half.

In a September 2016 article in Forbes magazine titled “How U.S. Auto Dealers Can Grow in the Digital Age” listed a service-department manager with a tenure of at least three years as the single biggest factor in optimizing dealer operations.

Omaha can bet that Dan Hamilton will meet, and exceed, that statistic.

Visit hhchevy.com for more information.

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ETHICS

OMAHA CVB

BY KEITH BACKSEN

The CVB was created in 1980 as a department of Douglas County with the goal to promote Omaha to visitors and attract convention business to the area. Conventions were held at the former Omaha Civic Auditorium, the only downtown hotel with conventionhosting capacity was the 444-room Red Lion (now the downtown DoubleTree), and Omaha’s Henry Doorly Zoo and Aquarium was just a typical zoo. In 2017, we have a 346,000-square-foot downtown convention center and arena, more than 3,000 downtown hotel rooms, a 24,000-seat downtown ballpark, a 3,000-foot-long pedestrian bridge, and our zoo is now worldrenowned. While the goals of Visit Omaha haven’t changed, the product certainly has, and the value tourism brings to our city has grown tremendously.

Tourism in an important economic engine for the city. During an average year, Omaha welcomes 11.9 million visitors. Those visitors spend $1.1 billion annually. The money visitors spend at our restaurants, attractions, hotels, retail shops, and other enterprises contribute to our local economy, providing jobs and income, tax revenue, community development, and other benefits.

Keith Backsen is executive director of the Omaha Convention and Visitors Bureau.

GROWING COMPANIES FOR LIFE Isn’t it interesting to think about company longevity?

OMAHA TOURISM— A LEGACY BUSINESS Visit Omaha, Omaha’s official tourism authority, turns 37 this year.

While not a milestone birthday per se, Omaha tourism has certainly seen milestones through the years.

BY BEVERLY KRACHER

From wait staff to small business owners, tourism means jobs. The odds are you know someone who works in the tourism industry. In fact, one in every 17 jobs in Omaha is supported by visitor spending, making tourism the ninth-largest private sector employer in the city.

The amount of taxes generated by out-of-town visitors means Douglas County households pay $682 less in taxes each year. Tourism’s decrease means taxes would go up and/or city/county services would go down.

Growth in tourism has not happened by accident. City leaders had the foresight to create developments that enhance Omaha’s appeal, which allows Visit Omaha to promote and market Omaha as an even bigger and better leisure and convention destination.

After 37 years, tourism has certainly earned its place as a legacy business here in Omaha.

Learn more about tourism through the eyes of residents in a series of videos at whattourismlookslike.com.

I remember hearing that if a small firm can make it seven years then it has a good chance of surviving and prospering. I think this is from the Small Business Administration.

On the other hand, one study from the Santa Fe Institute says that public companies live, on average, only about 10 years.

According to a 2012 report, the average lifespan of a S&P 500 Index company has decreased from 67 years in the 1920s to 15 years.

What makes some companies endure and others not? A fascinating article in Inc. by Bo Burlingham, “How to Build a Company That Will Be Around in 2115,“ gives us some insights. Sometimes, it has to do with the founder’s intentions.

Burlingham distinguishes between owners who think about building to sell versus building to last. In firms that are built to sell, the mentality is to get investors, grow as fast as possible, make as much money as possible to pay back the investors and make oneself rich, and then get the heck out of Dodge. It’s all about the money and having an exit-strategy.

In firms that are built to last, owners and investors think about purpose, people, and culture. Yes, money and profitability are important, but it is just one part of the puzzle, not the only driving force. The real point is being passionate about an idea, spending days working with great people, and building a place to work that elevates employees to do their best for their customers. There is a long-term perspective as described by one entrepreneur when asked about an exit strategy, “My exit strategy is to be rolled out of my office on a gurney.“ When companies are built to last, they focus on enduring values. These values are imbued into the fabric of the organization. They become ingrained in all employees, and guide senior and new employees in their everyday actions. The specific values are not surprising. They are ethical values like honesty, integrity, and fair deals. These values are not merely abstract words on a wall but are used during strategy sessions, in team meetings, and when making decisions.

Enduring values are those things that are most important to us. They cut across time and place. They tie people together, creating a shared purpose. Leaders use them to grow companies for life.

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Beverly Kracher, Ph.D., is the executive director of the Business Ethics Alliance and the Daugherty Chair in Business Ethics and Society at Creighton University.

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