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Serving the greater Lynchburg regiOn

OctOber/nOveMber 2015

Recognizing the Area’s Top Young Professionals

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+INSIDE

THE KIRKLEY HOTEL & CONFERENCE CENTER FACES BEHIND THE PLACES BENCHMARK PROTECH NYDREE FLOORING MEETING PLANNER GUIDE

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TABLE OF CONTENTS October/November 2015

FEATURES

UPFRONT

7 BY THE NUMBERS

18

8 IN THE NEWS

BUSINESS OVER 10

The Kirkley Hotel & Conference Center

10 LET’S DO LUNCH

Hill City House Grille

18

11 MOVERS & SHAKERS 12 PLUGGED IN

22

MEETING PLANNER GUIDE Tips & Tricks for Success

29

COLUMNS

FACES BEHIND THE PLACES 10 Local Businesses

15 LEGAL

41

Deciphering “REBA”

17 MARKETING

How Location Affects Profit Margins

LEADING LADY

41

Lisa K. Meriwether

42

25 HEALTHCARE

LEADER PROFILE

How “Baby Friendly” Saves Money

Byron Steward, Business Development Centre, Inc.

27 FINANCIAL

The Benefits of Diversifying Investments

45

TOP 20 UNDER 40

40 COMMERCIAL REAL ESTATE Navigating Historic Tax Credits

42

65 HUMAN RESOURCES

Where Are All the Mentors?

A Closer Look at a Growing Demographic

Local Market Analysis for 2015

74 NYDREE FLOORING

62

YOUNG PROFESSIONALS

66 REAL ESTATE

MADE IN LYNCHBURG

The Inaugural Class of Honorees

67

1st Annual

EXECUTIVE CAR GUIDE

45

72

BUSINESS UNDER 10 Benchmark ProTech

OCTOBER/NOVEMBER 2015

LynchburgBusinessMag.com

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EDITOR’S LETTER

W

elcome to the newly updated Lynchburg Business magazine! We spent the past few months perfecting the logo so that it more closely aligned with our vision for the publication—one that is relevant and practical to the business leaders throughout our region. Just as this area continues to evolve and expand, so should Lynchburg Business adapt and improve as time moves on. We feel confident that the changes we’ve made over the past year have contributed to a stronger publication both aesthetically and content-wise. We hope you agree! And should you have comments or suggestions on any front, please reach out and share those with us. Additionally, our cover “models” for this issue are the first of what will become an annual feature—the Top 20 Under 40. Focused on identifying the best and brightest young professionals of our region, this year’s campaign produced a strong surge of support from the business community. More than 150 nominations were submitted throughout the month of June, and that number alone indicates the strong pool of burgeoning talent we are fortunate to have here in our region. The diversity of individuals and experiences represented by this year’s final list is truly amazing. For those who attended the awards ceremony in September, the main comments centered on what a strong group of individuals was found for an inaugural year. And that is an accurate summation. Learn more about each of these individuals—among them CEOs, entrepreneurs and nonprofit founders—starting on page 45. To dovetail off of the Top 20 coverage, we also included a feature focused on defining the young professional demographic: who are they exactly? What are their strengths? What are their weaknesses? And, perhaps most importantly, how can they contribute to continued success in the years ahead? Learn more on page 62. This issue also has a focus on topics related to real estate such as how the location of your business can affect your bottom line, page 17; how the local real estate market has been performing compared to past years, page 39; and how to navigate the tricky waters of historic tax credits in commercial real estate, page 40. We also take a closer look at one local business owner who improved his initial real estate investment over the last several years. See page 18 to learn how The Kirkley Hotel & Conference Center has sustained their growth and valuation over time. The truth is where we do business has a huge impact on our day to day lives, so we hope you find these pieces to be enlightening and helpful. As 2015 comes quickly to a close, be mindful of the goals you set earlier in the year and do a quick summation of what else you hope to accomplish before 2016 rolls around. Here’s to finishing strong! Best,

Lynchburg Business Magazine is a bimonthly publication devoted to highlighting Lynchburg-based businesses and those in the surrounding areas of Amherst, Appomattox, Bedford and Campbell Counties, as well as the Town of Altavista. Every other month, 10,000 copies of Lynchburg Business Magazine are distributed by mail to local businesses, executives and individual business decision-makers. The goal of Lynchburg Business is for readers to look to the magazine as a resource worth keeping in their businesses and homes; one that appeals strongly to professionals in our area. Publisher Randy Thompson Managing Editor Jennifer Redmond Editorial Director Melissa Stewart Contributing Writers Ashley Addington, Patrick Bolling, Kendrick Brunson, Sarah Bryant, Dave Calland, Tommy Doukas, Billy Hansen, Emily Hedrick, Megan House, Drew Menard, Suzanne Ramsey, Jennifer Redmond, Dan Vollmer, Jackie Weaver Vice President of Production Holly Watters Art Director Chris Meligonis Client Relations Manager Brittany Proctor Graphic Designers Kaye Ellen Trautman Web Creative Director Chris Murphy Sr. Web Developer & Web Administrator Brandon Litchfield Web Developer Caleb Whitehead SEO Analyst Michael Saks Web Marketing & Promotions Manager Kearsten Walden Photography Mitchell Bryant, Janine Enold, Dani Heitzman Design Intern Alexus Townsend Editorial Intern Sarah Bryant Vice President of Sales & Distribution Paul Brannock Sales Leader Missy Celli Account Executives Christie Berry, Carolyn Keeling VistaGraphics Staff Copy Editor Robin Cather Controller Anita Burns Accounting Manager Dawn Meehan Office Manager Tracy Thomopson Contributing imagery supplied by Thinkstock.com

WWW.LYNCHBURGBUSINESSMAG.COM Proud Members of:

SUBSCRIPTIONS Receive Lynchburg Business at work or at home by subscribing today for $9.97 annually. Receive 6 bi-monthly issues: Feb/Mar, Apr/May, June/July, Aug/Sept, Oct/Nov and Dec/Jan. To subscribe, go online to www.LynchburgBusinessMag.com or please send your check payable to VistaGraphics, Inc, 1264 Perimeter Parkway, Virginia Beach, VA 23454, Attn: Circulation Mgr. Please be sure to include your mailing information: name, address, city, state, zip code, and phone number. For changes of address, please email George Carter, Circulation Manager: george@vgnet.com Lynchburg Business is published bimonthly by VistaGraphics, Inc. The corporate office is located at 1264 Perimeter Pkwy, Virginia Beach, VA 23454. © 2015 - all rights reserved. Reproduction of any material prepared by VistaGraphics, Inc., and appearing within this publication is strictly prohibited without express written consent of the publisher. Publisher does not purport to authenticate and is not responsible for claims made by advertisers found within this publication.

DECEMBER/JANUARY 2015-2016

Jennifer Redmond, Managing Editor jennifer@lynchburgmag.com 6

LynchburgBusinessMag.com

OCTOBER/NOVEMBER 2015

ADVERTISING DEADLINES Advertising Space Reservation............................October 31 Editorial & Events...................................................October 31 Final Artwork........................................................ November 4 For Advertising Information, Please call 757.213.2461or email paul@vgnet.com


BY THE NUMBERS

BY THE NUMBERS

37%

6,500+

Number of businesses with fewer than 100 employees in the region, more on page 27.

Increase in breastfeeding rates at Central Virginia Baptist Hospital since 2009, more on page 25.

78

Number of successfully completed rehabilitation tax credit projects in Lynchburg since 1997, more on page 40.

4 School Administrators 2 Lawyers 1 Pediatrician 5 Co-founders of

1/3

Local Nonprofits

3 CEOs 5 Entrepreneurs

Percentage of today’s work force composed of millennial workers (those born between 1980 and the mid-2000s), more on page 62.

1 Youngest Elected Official in the State of Virginia . . .See all of them starting on page 45

FEEDBACK “I really enjoyed reading the interview with Diane Scott Swain in the August/September issue of Lynchburg Business. Thanks for taking time to honor an educator!” — Mary Riser, Head of School, James River Day School “I am writing this on behalf of Michael Grant and our entire organization. We just wanted to take a minute to tell you how pleased we are with the feature your magazine ran about our company in the latest issue. We have received many positive comments since it came out, and our staff is proud to be represented in such a way. Catherine Mosley deserves a great deal of credit for her efforts in getting this project done in such a professional manner. You must be very proud of your product and your staff. Thanks again, and we wish you continued success.” — Ed Roakes, Vice President, Michael’s Carpet World

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LynchburgBusinessMag.com

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UPFRONT

Photo by Stephen Woosley

IN THE NEWS REGIONAL BUSINESS

LYNCHBURG DESIGNATED VIRGINIA’S FIRST TECHHIRE COMMUNITY By Drew Menard

O

n August 4, Lynchburg was named among the second wave of nationally recognized TechHire communities, becoming the first location in Virginia to receive this designation and placing it among the first 30 nationwide to participate in this initiative. TechHire is a White House initiative that calls communities to empower Americans with the skills they need in a variety of areas through education and nontraditional means. “The goal is to increase the speed and agility with which we train professionals in Lynchburg,” said Marjette Upshur, Director of the Lynchburg Office of Economic Development. These communities are committed to working together with various organizations to create innovative ways to develop fast-track tech training opportunities and to recruit and place applicants. “TechHire pulls together Lynchburg’s business community, local government, nonprofits and citizens to create a workforce development system that prepares people for the workforce in months, not years,” said Upshur. “Lynchburg’s TechHire designation increases our competitiveness for grant funding from the Department of Labor and affords us access to state and national partners who are offering resources to aid in workforce development innovation.” Lynchburg has partnered with employers and nonprofit partners to focus on three action points: using data and innovative hiring practices to expand openness to nontraditional hiring, expanding rapid training models and implementing active local leadership to connect people to jobs. The Lynchburg Economic Development Authority and the City of Lynchburg’s Office of Economic Development are partnering with local employers, the Lynchburg Beacon of Hope and Central Virginia Community College to identify and train students for the 21st century workforce. Local employer partners—like SharpTop Co., BWXT, Delta Star, TRAX International and NovaTech—are expanding training and hiring capacities from both nontraditional and traditional educational pathways. The City will then recruit, develop and expand accelerated tech learning programs—from

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OCTOBER/NOVEMBER 2015

coding boot camps to online education—providing a pathway for interested individuals with no tech experience to quickly gain the skills they need. Local organizations are also implementing mentorship and training programs to share their knowledge with local youth, giving them skills and hands-on experience to prepare for the workforce. Independent organizations are running new training programs, and community college and universities have the opportunity to embed similar programs in their educational offerings. Through TechHire, Lynchburg aims to have 15 partners by the end of 2015 and has committed to training 75 people through nanodegree programs by the end of 2016. Learn more about TechHire at www.WhiteHouse.Gov/Issues/ Technology/TechHire.

REBRANDING

AWARD-WINNING LOCAL AGENCY REBRANDS TO 434 MARKETING

F

acing a trademark issue with their previous name, Carrot Creates, 434 Marketing recently launched its new brand. The company, founded by Region 2000’s Entrepreneur of the Year and recipient of Lynchburg Business magazine’s Top 20 Under 40, Dustin Slightham, has grown rapidly since it started at a dining room table four years ago. In the past year alone, the team has added 10 employees and is anticipating more growth. Located in a downtown loft, 434 Marketing’s team specializes in taking a three-pronged approach to marketing: market research; customized web design; and ongoing inbound marketing paired with outbound sales. By taking a holistic approach to marketing and sales, 434 has managed to build several award-winning websites for their clients. For more information about the agency, visit www.434marketing.com.


UPFRONT

HEALTHCARE

REAL ESTATE

T

C

FREE CLINIC RECEIVES $222,000 TO EXPAND DENTAL SERVICES

FIRST GATED RENTAL COMMUNITY BEING DEVELOPED IN LYNCHBURG

he Free Clinic of Central Virginia has received funding from the Virginia Health Care Foundation, the Centra Foundation and Centra Health to expand dental services to five days per week. Christina Delzingaro, Executive Director of the Free Clinic; Anita Wilson, Dental Clinic Coordinator; and Augustus Petticolas, DMD, Free Clinic Dental Director, will lead the Dental Services Expansion Project, a plan designed to increase patient capacity, strengthen In a recent Free Clinic patient survey, the number of respondents experiencing “quality-of-life” the local dental health issues directly related to dental problems or pain included…. safety net and further integrate medical and dental care at the Free Clinic. The project’s overall goals are to improve oral and reported physical health, and reduce visits to the emergency department for dental pain. In addition, the Free Clinic hopes to expand access to dental services for lowincome, uninsured and underinsured Central Virginians. The Free Clinic will create a bi-directional referral process between the Clinic’s medical and dental services to establish oral health screenings as a routine Free Clinic medical service. DIFFICULTY SLEEPING

IRRITABILITY

DIFFICULTY EATING

DIFFICULTY CONCENTRATING

FEELING DEPRESSED

UNABLE TO CARE FOR FAMILY

DIFFICULTY GETTING A JOB

MISSING WORK

LOCAL BUSINESS

DELTA STAR COMPLETES QUEBEC FACILITY ACQUISITION

L

ynchburg, Virginia–based transformer and mobile substation manufacturer Delta Star, Inc. is pleased to announce that an agreement to purchase the Alstom transformer factory in Saint-Jean-Sur-Richelieu, near Montreal in Quebec, Canada, was recently closed. “This important plant in Saint-Jean-SurRichelieu will further solidify Delta Star’s position as Canada’s dominant supplier for mobile substations and mobile transformers and the fastest growing supplier of power transformers in North America,” said President and CEO Ivan Tepper. “The Alstom factory will also provide our United States customers a third plant with medium-power transformer capacity. Over the past five years Delta Star has

onstruction has started on the first gated rental residential community in Lynchburg. Named The Gardens on Timberlake, the development will have 192 luxury apartment homes and 16 three-bedroom townhomes, a two-level clubhouse and a lighted walking/biking trail on 16 acres behind the Kroger store on Timberlake Road. The estimated cost of the project is expected to be approximately $30 million. Faye Spraker of Lynchburg will be the Leasing Agent and property manager for The Gardens. A native of Covington, Spraker has experience managing Moss Creek Apartments in Forest and Edge Hill Estates Apartments in Roanoke. Residents of the community will have security systems in their apartments, as well as access to the clubhouse, which will contain a fitness center, movie theatre, children’s room, therapy room and game room. The lower level of the clubhouse will have an entrance into the pool area, and the upper level, an observation deck. “Our office has received a lot of inquiries from people interested in living in The Gardens, and we are now leasing,” says Spraker. “They are attracted by the high standard of quality of the development and the security and fitness activities.” The initial three buildings containing 72 homes and the clubhouse are expected to be completed by October 1.

doubled production at our existing locations, and this is a unique opportunity to acquire additional engineering and manufacturing talent.” Delta Star Vice President Steve Newman said, “Delta Star has over 100 years of experience in the manufacturing of transformer products. This is an important day for our employees at our Lynchburg and San Francisco plants as we add a Canadian division that will again increase our manufacturing capabilities and provide our customers a third location to build our power transformers and mobile substations.” With over 100 years of manufacturing experience, Delta Star is the leading producer of power transformers and the premier manufacturer of mobile substations in North America. Delta Star has attracted high-quality engineers and professionals and invested heavily in its facilities in Lynchburg, Va. and San Carlos, Ca. As a result of these efforts, the company has experienced incredible growth with production increasing to over 100 percent in recent years.

Workforce Development Career & Technical Education Programs

State State Licensure Licensure Industry Industry Certification Certification National National Competency Competency Certification Certification Career Career Electives Electives

www.lcsedu.net www.lcsedu.net

OCTOBER/NOVEMBER 2015

LynchburgBusinessMag.com

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UPFRONT

SMALL BUSINESS

LET’S DO LUNCH!

CENTRAL VIRGINIA BALLET MOVES TO NEW STUDIO ON LAKESIDE DRIVE

Hill City House Grille

By Emily Hedrick

C

By Jennifer Redmond

What to Expect: Fresh, local flavors at the forefront with some unique options for the more adventurous

What to Try: With Chef Eugene Robinson at the helm, the food emerging from Hill City House Grille does not disappoint. “Everything is fresh,” Robinson says. “And I aim to hit a full flavor profile with every dish—sour, sweet, salty, bitter, etc.” Having recently tried the Washington Seafood Cobb salad and the Vegetarian Wrap, we have to admit that he’s meeting the goal. Both lunch entrees were bursting with flavor and texture and came paired with house made dressings like a southwest sauce and a mandarin orange poppy seed dressing. As a native of Lynchburg, owner Donna Reichard knows what locals eat, so together she and Robinson have crafted a diverse menu full of classics like their take on a Cheesy Western burger paired with fresh potato chips; wraps named after the city’s seven hills; and steaks prepared on their infrared grill—the only one in town—allowing Robinson to perfectly char a steak while maximizing its juicy flavor.

The Extras: The restaurant offers a complimentary private room—with its own thermostat—that seats up to 25 people for business meetings; you can also rent out an additional space that comfortably fits up to 100 people. This option includes a private entrance, separate restrooms and the option to serve breakfast and other meals throughout the day. Reichard says this is ideal for companies looking to host a day-long event or a mini-conference. With ample parking and easy access to 501 and 460, the restaurant’s location itself is a selling point.

The Experience: If you haven’t visited since Reichard took over in spring of 2013, you’ll be pleasantly surprised. The restaurant has been updated and redecorated throughout with the aim of creating an “inviting” and comfortable atmosphere according to Reichard, who incorporated black and white photos of historic Lynchburg scenes and handcrafted tables from Madison Heights. Looking for some fun on a weeknight or weekend? They’re now offering happy hour from 4 to 7 p.m., live music on Fridays and Saturdays, comedy nights and a Sunday brunch menu. Visit them online at www.hillcityhouse.com.

AT A GLANCE Location: 7001 Timberlake Road, Lynchburg RSVP: (434) 237-6110 Hours: Open for lunch at 11 a.m., Tuesday through Friday

entral Virginia Ballet relocated from Kemper Street to Lakeside Drive in June. Owner Mari Mori started the company in 2011 upon the closure of the Virginia School of the Arts, where she taught community dance classes. According to Mori, the former studio experienced major growth until construction began on the Kemper Street Bridge earlier this year. “I was getting phone calls from new students who wanted to come to the studio, but they couldn’t figure how to get there because of all the closures. That was a very hard time, but now I am in one of the best locations.” In addition to its improved location, the new studio features sprung floors. Mori explains the benefits saying, “You can feel the support when you run and jump on a sprung floor; it gives your feet a cushion. It’s especially important for the girls who are on pointe shoes. We have to protect their feet.” The studio currently offers a wide range of classes for children ages three to 18: six levels of ballet based on skill level, tap, modern and what Mori calls “dance mix,” which is a combination of jazz and hip-hop. A Zumba class for adults is available, and Mori hopes that adult interest in other classes will increase. Mori hopes that the new studio will soon serve as a dual-purpose space where dancers can either pursue dancing as a potential profession or as a hobby. “I want to have two different programs; one for students who just want to enjoy dance and the other for those who want to be professional dancers.” Regardless of what happens in the future, Mori cites her

Innovate & Expand Your Business in Virginia’s First Tech Hire Community. For business news, resources, local incentives and more:

www.opportunitylynchburg.com 10

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OCTOBER/NOVEMBER 2015


UPFRONT students’ parents as her primary source of support. “The parents keep me going. Without their help, I couldn’t have come this far.” For more information about Central Virginia Ballet, visit www.cvballet.com.

REBRANDING

REBRANDING FOR SELECTIVE WEALTH MANAGEMENT

T

wo years after launching, 1311 Capital is moving up. The local investment firm began from humble beginnings working from free office space on Church Street, but over the last several years, the company’s unique investment approach has attracted more than 250 clients and $11 million dollars in assets. This rapid growth has led the firm to relocate to new office space overlooking the city from the 17th floor of the Bank of the James and rebrand as Selective Wealth Management. Selective believes that the new name is more closely aligned with the firm’s vision of providing investment services that focus on business ownership—not financial products. The firm is selective in the companies that it purchases, concentrating on debt-free businesses with dominant market positions to build wealth for their clients. This careful selection process is intended to improve results for investors over the long term. Additionally, to help clients think like business owners and not stock market speculators, the firm provides a brief video and an in-depth research report on each company purchased. The long-term vision for Selective is to compete with traditional financial firms on a national level. To learn more about Selective, visit the company’s website at www.selectivewm.com.

MOVERS & SHAKERS MARY L. SHERRY—New Head of School at Holy Cross Regional Catholic School. With 19 years of experience in education, Sherry hopes to provide exciting and challenging enrichment opportunities for all students. Founded in 1879, Holy Cross Regional Catholic School is a fully accredited college preparatory school for students in pre-kindergarten through 12th grade. EVAN ROBERT SMITH—New Director of Community Outreach for the Academy of Fine Arts. In this newly created position, Smith will be dedicated to the Academy’s new Community Outreach and Engagement Initiative designed to build a culture of inclusion and accessibility within the arts. Prior to joining the Academy, Smith worked in Washington, D.C., under a fellowship that educated communities of color about the importance of Social Security. ELIZABETH “BETH” SMOOT—Owner of recently launched business “Busy Bee Delivery,” a shopping and delivery service that assists anyone in need of help with shopping and errands by delivering directly to residents’ homes. DONNA WHITEHOUSE—New Director of Development at Opera on the James. Whitehouse provides leadership, coordination program development for all fundraising activities and has the joy of introducing new patrons to the wonderful world of opera. She brings over 15 years of professional experience in the academic and nonprofit sectors with expertise in advancement services, donor relations and data operations. LINDSAY R. HORNE—New associate at Fairchild & Yoder, PLLC. Horne holds a Juris Doctor Degree from Liberty University School of Law and will be representing clients in criminal and family law matters. Prior to joining the firm, she was an intern with the Campbell County Juvenile and Domestic Relations Court. Horne is the recipient of the 2014 Virginia State Bar Family Law Book Award.

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J.R. RODES—Graduated from the American Bankers Association Stonier Graduate School of Banking at the University of Pennsylvania in Philadelphia. He is the Vice President and Credit Analyst at Bank of the James. He joined Bank of the James in 2005 with a BS in Finance from Wake Forest University. JEREMY P. WHITE, ESQ.—Honored with the Legal Aid Award from the Virginia State Bar (VSB). As the managing attorney of the Lynchburg office of the Virginia Legal Aid Society (VLAS), White was presented with the Legal Aid Award for his dedication to making a difference in the lives of VLAS clients. VLAS is a nonprofit law firm providing legal advice and representation to low-income individuals and families in civil cases. ROBERT “ROBIN” C. WOOD III—Honored with the Tradition of Excellence Award from the Virginia State Bar (VSB). As a member of the Board of Virginia Legal Aid Society since 2011, Wood was presented with the Tradition of Excellence Award for his embodiment of personal and professional excellence. W. DAVID PAXTON—Appointed Chair of the Labor and Employment Law Group for ALFA International. Paxton will be ensuring that Gentry Locke is prepared and able to meet the growing needs of its local clients. ALFA International, a global network of more than 150 independent law firms, provides high-quality, cost-efficient legal services to clients. SALLY O’DANIEL—Independent Wine Guide and Central Virginia Representative for Traveling Vineyard. Established in 2001, Traveling Vineyard specializes in exclusive boutique wines from vineyards around the globe. They also offer private in-home wine tasting events to create a relaxed tasting experience that educates about wine and demystifies the process of tasting.

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UPFRONT

PLUGGED IN OCTOBER 2 LUNCH TO LEARN WITH THE REGION 2000 SBDC: MANUFACTURING DAY/ IMPORT & EXPORT

Central Virginia Community College, 3506 Wards Rd., Merritt-Hall, Lynchburg

Noon Presenter Aaron Miller of the Virginia SBDC’s International Trade Initiative will meet with businesses interested in sending their products to overseas markets. Space is limited; pre-registration required; lunch included. RSVP at www.region2000sbdc.com/ lunch-to-learn/. Sponsored by Bedford County EDA.

OCTOBER 5 INVESTMENT SEMINAR WITH SELECTIVE WEALTH MANAGEMENT & LYNCHBURG’S FINEST

RA Bistro, 1344 Main St., Lynchburg

6:00 p.m. Seminar will cover actionable investment opportunities in both the local real estate market and global stock market. Complimentary dinner. RSVP at info@selectivewm.com.

OCTOBER 13 NETWORKING BEFORE NINE WITH BEDFORD AREA CHAMBER OF COMMERCE

Foster Fuels, 16720 Brookneal Hwy., Brookneal, Va. 8:00 to 9:00 a.m.

OCTOBER 20

NOVEMBER 10

INVESTMENT SEMINAR WITH SELECTIVE WEALTH MANAGEMENT & LYNCHBURG’S FINEST

NETWORKING BEFORE NINE WITH BEDFORD AREA CHAMBER OF COMMERCE

RA Bistro, 1344 Main St., Lynchburg

6:00 p.m. The seminar will cover actionable investment opportunities in both the local real estate market and global stock market. Complimentary dinner. RSVP at info@selectivewm.com.

OCTOBER 22 BUSINESS AFTER HOURS WITH BEDFORD AREA CHAMBER OF COMMERCE

A Goode View Alpaca, 1473 Heathwood Drive, Goode, Va. 5:30 to 7:00 p.m.

2016 TECHEDGE AWARDS NIGHT WITH THE REGION 2000 TECHNOLOGY COUNCIL

Academy of Fine Arts, 600 Main St., Lynchburg 5:30 to 9:00 p.m. More information call (434) 847-1447.

LUNCH TO LEARN WITH THE REGION 2000 SBDC: MARKETING THROUGH COMMUNITY INVOLVEMENT

Central Virginia Community College, 3506 Wards Rd., Merritt-Hall, Lynchburg Noon Learn how to better utilize community events to increase your business exposure. Space is limited; pre-registration required; lunch included. RSVP at www.region2000sbdc.com/lunch-tolearn/. Sponsored by Bank of the James.

OCTOBER 16

HEALTH & WELLNESS PLEXUS OPPORTUNITY EVENT WITH PLEXUS FIT U

Liberty Mtn. Conference Center, 3700 Candlers Mtn. Rd., Lynchburg

6:00 p.m. Learn how to manage stress and energy levels as a corporate employee or business owner. Call Jennifer Harder at (434) 941-3787 to register.

LUNCH TO LEARN WITH THE REGION 2000 SBDC: BUSINESS TAXES

Central Virginia Community College, 3506 Wards Rd., Merritt-Hall, Lynchburg Noon Learn some insider tips on tax management and strategy. Space is limited; pre-registration required; lunch included. RSVP at www.region2000sbdc.com/lunch-to-learn/. Sponsored by Union Bank.

Holiday Inn Downtown, 601 Main St., Lynchburg 5:30 to 7:00 p.m. More information at (434) 845-5966.

NOVEMBER 19 CHRISTMAS MARKET WITH THE BEDFORD CHAMBER OF COMMERCE

Reid’s Fine Furnishings, Bedford Country Club, 3563 Peaks View Rd., Bedford

COFFEE TALK WITH LYNCHBURG RETAIL MERCHANTS ASSOCIATION

5:00 to 7:00 p.m. First annual sale; come enjoy networking and hors d’oeuvres while selecting some gifts. Shop small, shop local!

8:00 to 10:00 a.m.

NOVEMBER 20

NOVEMBER 2

MEDIA & MARKETING: HOLIDAY PROMOTIONS USING SOCIAL MEDIA

Woodmen of the World, 1800 Wards Ferry Rd., Lynchburg

“LET’S PUT BEDFORD ON THE MAP” SEMINAR WITH THE BEDFORD AREA CHAMBER OF COMMERCE

105B Tradewynd Dr., Lynchburg

CVCC Bedford Campus, 1633 Venture Blvd, Bedford

8:00 to 9:30 a.m. Free admission for members. Please RSVP at (540) 586-9401.

NOVEMBER 3

9:00 to 10:00 a.m. Website Workbox LLC and the Lynchburg Retail Merchants Association offer this free event to educate businesses on enhancing their web presence. RSVP at www.facebook.com/ websiteworkbox.

RA Bistro, 1344 Main St., Lynchburg

www.thalhimer.com

NOVEMBER 11

HOLIDAY SHOWCASE WITH THE LYNCHBURG REGIONAL CHAMBER OF COMMERCE

OCTOBER 27

MEDIA & MARKETING: GETTING REVIEWS ONLINE

105B Tradewynd Dr., Lynchburg

8:00 to 9:00 a.m.

NOVEMBER 12

OCTOBER 30

OCTOBER 14

Wooldridge Heating Air & Electrical 14179 Wards Rd., Lynchburg

INVESTMENT SEMINAR WITH SELECTIVE WEALTH MANAGEMENT & LYNCHBURG’S FINEST

6:00 p.m. The seminar will cover actionable investment opportunities in both the local real estate market and global stock market. Complementary dinner. RSVP at info@selectivewm.com.

9:00 to 10:00 a.m. Website Workbox LLC and the Lynchburg Retail Merchants Association offer this free event to educate businesses on enhancing their web presence. RSVP at www.facebook.com/ websiteworkbox.

COFFEE TALK/HOLIDAY PARTY WITH LYNCHBURG RETAIL MERCHANTS ASSOCIATION

American Legion, 1301 Greenview Dr., Lynchburg 8:00 to 10:00 a.m. Food provided by Friends Catering, Inc.

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LEGAL and the cracked foundation—a cause of action separate from the one that the Virginia Real Estate Board would have under REBA against the defendants for the same offense. The agents and brokerage firm demurred (i.e., moved to dismiss the case for failing to state a claim), arguing that private recovery was not permitted under REBA. The Court disagreed, allowing Ms. Winesett to move forward to trial and highlighting a section of REBA that specifically contemplates civil actions which the General Assembly added in 2013. Ms. Winesett would get her day in court, although the case subsequently settled. IMPACT OF THIS CASE ON LOCAL AGENTS AND BROKERS Previously, REBA claims may have been limited to administrative proceedings before the Virginia Real Estate Board. The main (and scariest)

BROKERS BEWARE: Homebuyers May Have A New Way to Sue You BY PAT R I CK B O LLI N G

A

Norfolk judge’s recent opinion has bolstered the legal precedent for Virginia homebuyers to sue licensed real estate brokers under the Virginia Real Estate Broker’s Act (“REBA” or the “Act”) for money damages when they fail to disclose known material facts relating to a property they are commissioned to sell. In 2010, Megan Winesett bought a home in Norfolk with the help of her buyer’s agent, who worked at the same brokerage firm as the seller’s agent. Around that time, it appeared that the lower portion of the home’s exterior had been refurbished with vinyl siding. The basement was enveloped with freshlypainted drywall. According to the listing, it would make a “great party room.” Ms. Winesett’s agent represented to her that the seller’s agent had assured her that flooding was not a problem. Ms. Winesett’s agent also stated that any water “evaporates” from the basement. When Ms. Winesett removed the drywall and vinyl siding during an early 2014 renovation, she found that the vertical support structures were water-damaged and termite-eaten, and flooding had cracked the foundation. THEORY BEHIND THE VIRGINIA REAL ESTATE BROKER’S ACT Ms. Winesett sued the seller, both agents and the brokerage firm for $75,000 to repair the damage, and also sought a $350,000 punitive award. One of her theories was that REBA gave her a private cause of action against the defendants for failing to disclose the house’s history of flooding, termite and water damage,

takeaway is that, while an administrative proceeding could result in the loss of licensure or other sanctions, a REBA action by a private buyer in civil court could result in potentially huge money awards which could shutter a brokerage firm. Further, it is unclear what standard of proof will apply to a private REBA action. Consequently, brokers may find themselves in an unfamiliar legal landscape when litigating a private claim under the Act. IMPLICATIONS MOVING FORWARD Know that the issue of private REBA actions is still an open question: Virginia courts have come down differently on a buyer’s private action against a broker under REBA. The Loudoun County Circuit Court disallowed an action similar to Ms. Winesett’s in 2004, but the Charlottesville Circuit Court allowed an action to proceed in 2010. The Virginia Supreme Court showed disfavor for a comparable action under the Virginia Real Estate Board Licensing Regulations in a 1989 case. However, that case was decided well before the General Assembly’s addition of the specific civil action reference which the Norfolk court cited. Predicting whether any given judge will allow such a case to proceed or not is a risky endeavor. Still Ms. Winesett’s success adds another potential weapon to a litigious buyer’s arsenal. For now, brokers can take solace in the fact that only when (and if) the Virginia Supreme Court agrees that such a private action under REBA exists will every Virginia judge have to allow them. For Lynchburg area realtors, the bottom line is that you should be careful when you make or relay any representations to buyers, and disclose any material known facts related to the property, especially for something materially related to its structural or physical condition (such as termites, water damage or a history of flooding). Real estate deals in the Lynchburg area typically are managed by professionals who are repeat players. Naturally, they often have mutual respect and trust for one another. But when your business or personal assets may be on the line for enormous repair bills and other damages, proceeding carefully is imperative. Should a situation arise where it appears that litigation with a client (buyer or seller) is pending, brokers should cease communications with them immediately and consult qualified legal counsel. In addition to other real estate issues, Patrick, John Francisco and other attorneys at Edmunds & Williams provide advice related to employment, health care and all aspects of business and corporate law. Visit them at www.ewlaw.com or call (434) 455-9129.

OCTOBER/NOVEMBER 2015

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MARKETING

LOCATION: DOES IT REALLY MATTER?

T

BY DR. KENDRICK BRUNSON

he phrase, “Location, location, location…” to describe a key component of a successful retailer is an age-old adage, but does it really matter? Obviously, for those companies and organizations that do not require customer access, any convenient and affordable location for the owner will suffice. However, for those primarily retail establishments, what are some key considerations to keep in mind when placing the storefront where it can attract the most customers and potentially increase revenue? Here we’ll discuss how to make the most of your location and give a brief overview of four critical success factors: Visibility, Convenience, Parking and Neighbors. VISIBILITY If consumers cannot see your retail establishment in their routine travels, more advertising will be required to achieve Top-of-the-Mind-Awareness (TOMA) than if the storefront were visible from major traffic routes. Though it may cost more in rent or mortgage to have a site that can be easily viewed from a major road, it is highly likely that the increase in sales revenues from the exposure will more than compensate for the extra cost. A colleague of mine once observed that stores and shopping centers in the Lynchburg area that were situated below the road elevation tend not to survive. While there are exceptions to every rule, I had to agree with his observations though I do not have a clear answer as to why that phenomenon exists. It may be the same psychological effect where some potential homebuyers resist purchasing houses below the road elevation. CONVENIENCE In the classroom, I ask my students which side of the road should a pizza shop and a donut shop sit. The correct answer for both scenarios is “the right side of the road” for traffic patterns. The reason is that there is less hassle getting into the store lot and back into traffic when only right-hand turns are involved. An exception might be if a traffic light existed near the store for customers to conveniently return to the main flow of traffic. The next variable is that the donut shop should be on the right side of the road for traffic heading to work and the pizza shop should be on the opposite side of the road to capture customers on their way home from work.

However, being close to the main highway can have its shortcomings if customers cannot be served quickly. If a fast food restaurant, for example, cannot keep up with the number of customers wanting to be served within a short time period, lines will form into the street from the drive-thru window or parking lots will fill from in-store customers. Discouraged customers will move on, potentially permanently. One of the best ways to move along with orders is to anticipate what will be ordered and have it ready and to keep menus simple with fewer choices and thus fewer decisions to be made in line. I recently noticed a fast-food chain restaurant using employees standing in the drive-thru lines to accelerate order taking. More orders per hour equates to more sales revenues and more satisfied customers who most likely will be returning. PARKING Similar to Convenience is the need to have sufficient parking, especially for those retailers where customers “linger and shop” vs. “order and go.” If the customer cannot park within a short distance from the retail store, or becomes frustrated navigating around a parking lot in search of a vacant space, that customer will likely move on to where parking is not such a problem. Even large malls and shopping centers can have inadequate parking spaces for the demand generated by that shopping complex. Becoming frustrated and angry in the parking lot does not bode well for customer spending. Think about how much more is spent on one’s vacation when the consumer is in a more relaxed mood. In addition to having sufficient parking spaces, having sufficient lighting is important for a sense of safety. NEIGHBORS The final key success factor to consider is a retailer’s commercial neighbors. The goal is to co-locate with those stores that provide a synergy to one’s own store and to avoid situations where two or more stores cannibalize each other’s sales. The key to defining what might be a synergistic co-location would be to determine, through research, the demographics (ex. gender, age, income levels, ethnicity, etc.) and consumer behavior of shoppers within the area. For example, an all-natural vitamin shop might want to be in the vicinity of a natural foods grocery store. A sports equipment store and a smoothie restaurant might want to be near a popular gym club. A jewelry store might want to locate, not just in a mall, but near the inside entrance of an upscale department store within the mall. Location can make a significant difference in a retailer’s sales revenues and ultimate success. Dr. Brunson is on the faculty of the Liberty University School of Business and teaches marketing courses in the undergraduate and graduate programs. Brunson retired from GTE/Verizon in 2003 as Marketing Manager for major business accounts in the Southeast.

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BUSINESS PROFILE

OVER

BUSINESS TEN YEARS

THE KIRKLEY HOTEL AND CONFERENCE CENTER BY S UZANNE RAM S EY

P

eter Greenberg, owner of the Kirkley Hotel and Conference Center, admits he does things “kind of backwards.” When he bought the hotel in 2007, one might think he immediately set about sprucing up the carpet, drapes and other decor. Not so.

TAKES A VILLAGE—Management of the hotel and conference center is a team effort; owner Peter Greenberg, pictured back right, prioritizes exceptional experience in those hired to help him manage daily operations of the hotel and restaurant. Also pictured: Chef Jim Garrison, back left; Hotel Director Mike Schmidt, front left; General Manager Bert le Roux, front right.

“I do them last,” Greenberg said. “Everything I do is internally funded. I don’t borrow a lot of money. It takes a lot of time to do it my way, but it’s a lot less risky.” While others may have been fretting about aesthetics, Greenberg was inspecting things like plumbing. What he found was that the Kirkley’s sturdy, concrete exterior was in fine shape, as were its plumbing and electrical systems. Things like heating and air conditioning, on the other hand, needed attention.

“We’ve “We’ve “We’ve been been been using using using Custom Custom Custom Embroidery Embroidery Embroidery forforyears for years years and andwould and would would recommend recommend recommend them them them totoanyone. anyone. to anyone. They They They always always always produce produce produce great great great quality quality quality products products products and andhave and have have great great great customer customer customer service.” service.” service.” -Kirk -Kirk -Kirk Hicks Hicks Hicks Craft Craft Craft Collision Collision Collision & &Auto Auto & Auto Glass Glass Glass

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BUSINESS PROFILE

AT A GLANCE Founded: 1983 (purchased by Greenberg in 2007) Location: 2900 Candlers Mountain Road, Lynchburg Employees: Approximately 85 (including restaurant) “QUALITY ASSURED”—Staff members pay meticulous attention to the cleaning and maintenance of every room; paint scuffs are immediately fixed and, as le Roux says, “Nothing is left to chance.”

“Most of the mechanical systems were there but hadn’t been well maintained,” he said. “That was my specialty. I’d been the buyer of foreclosed property. Anything that was not perfectly maintained, that’s what I was looking for, because I could add value to it by good management and investing in maintenance.” Buying and selling foreclosed properties was what Greenberg was doing in 1995 when he bought his first hotel, Morrison House. He acquired the boutique hotel, located in Old Town Alexandria, in a bankruptcy auction. “I wasn’t a hotelier,” Greenberg said. “I was buying and selling foreclosures, mostly houses. That was the first commercial transaction I did.” Before 10 years was out, Morrison House was reportedly listed among the “best hotels in the world” by well-known magazines like Condé Nast Traveler. “It turned out, it was a huge success,” Greenberg said. Greenberg sold Morrison House in 2006 and bought the Kirkley a few months later. Unlike Morrison House, the Kirkley was not going through bankruptcy. It was, however, what Greenberg, who describes himself as a “value buyer,” called a “distressed asset.” “It means you’re paying a price that is ostensibly less than the value of the asset, should you operate it better,” he explained. With its proximity to fast-growing Liberty University and good bones, Greenberg said he thought, “I could sell hotel rooms there. ... My personal skill set would allow me to compete.”

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Recent signs of growth: “The restaurant [opened earlier in 2015] is growing by 100’s of percents— 200 percent a month.”

Greenberg didn’t close for renovations or to reorganize, but says he “just kept selling hotel rooms.” He started making gradual changes to increase his client base and build wealth, which he funneled back into the business. “Clean it a little better, make the air conditioning work better, get a few more clients [and] more money,” he said. “Fix the elevators better, get more clients. Whatever you do, try to not go backwards, and continually fix and build and rebuild. ... If you don’t have a very high lifestyle, you can keep reinvesting in that business and build wealth.” Because the Kirkley is an independent hotel and not affiliated with a chain, general manager Bert le Roux said, “We have to try harder.” Since 2010, all of the hotel’s 163 rooms have been renovated, as have the banquet spaces. The lobby is tastefully decorated with comfortable, leather furniture and new tile; the banquet rooms sport new carpeting and wall coverings, among other things. The leopard-print carpet in the smaller banquet rooms is a favorite of Greenberg’s. “Peter just loves this carpet,” le Roux said. The guest rooms, which come with one king or two full-size beds, are decorated with leather and dark-stained furniture, and the rooms are spotless. One thing immediately noticeable is the lack of scuffs on the walls. According to le Roux, there are two people on staff who, as part of their job, immediately touch up any paint scuffs. Another staff member carries around “a big pile of maintenance tickets,” le Roux added, and regularly inspects the rooms. “Nothing is left to chance. Quality assured.”

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FOR THE LOCALS—Opened earlier in 2015, The Great Room features high quality, classic dishes that resonate with the Lynchburg market. With a focus on quality and flavor, the eatery has experienced tremendous growth in its first year.

Another thing Greenberg did was open a restaurant, The Great Room. One could say it’s the Kirkley’s restaurant, but Greenberg insists he designed the restaurant with locals in mind. “We get almost exclusively non-hotel guests at the restaurant,” he said, adding, “We wanted it to be a restaurant for people from Lynchburg.” Greenberg said he wants diners to “experience really good food” in an atmosphere that isn’t pretentious. For example, while diners can expect “great service,” “elegant cutlery” and “bone china from Paris,” Greenberg said, “We use paper napkins, not to freak people out.” Chef Jim Garrison, a graduate of the Culinary Institute of America, is in charge of the kitchen, where he and his staff make what Greenberg describes as “authentic classics.” “If we make pizza, we use imported, Caputo 00 flour,” Greenberg said. “Every pizza is made with San Marzano tomatoes ... and buffalo mozzarella from Naples. ... If you have a piece of fried chicken, we’ve interviewed 30 grandmas, and we’ve had a fried chicken [cook]off with five or 10 different recipes.” The fish and chips on the menu? A long-time client, who grew up above his parents’ fish and chips shop in England, advised them on that. “Whatever we’ve done, we’ve made it authentic,” Greenberg said. “I want to make a grandmother cry. If your grandmother wouldn’t cry, we didn’t do it right.” So far, it’s all worked.

“We’ve been really successful,” Greenberg said. “We’re very pleased with our investment. Because we don’t have a brand, we can charge 15-percent less than a competitor that has a similar property. I’d argue that no one has a similar property in the market, so we pass all the savings on to our clients. ... “We provided the quality and we’re very successful with our formula. Even Morrison House was a five-star hotel [but] we didn’t charge a lot. Value buyers and sellers. We don’t try to get a ton of money for it. We try to have our best marketing be a big book of clients.” OCTOBER/NOVEMBER 2015

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MEETING PLANNER GUIDE

SPECIAL SECTION

MEETING PLANNER POINTERS

I

TIPS FOR A SUCCESSFUL COMPANY CONFERENCE

t’s not uncommon these days to hear how people are taking on a number of different tasks at work and wearing a variety of hats to help their company operate more leanly and succeed in the marketplace. So what do you do if you get tapped to organize the company’s next offsite meeting? In speaking with professionals on both the sales side of the equation and the planner side, the answers are surprisingly similar. Of course, there are a lot of variables that come into play—if your meeting will require overnight accommodations, what you’ll need in the form of catering (food and beverage service), if you’ll need audio/visual equipment, etc. Following is a list of things you need to know upfront before getting down to the nitty gritty details: What is the intent of the meeting? Is this a heavy working session where attendees need to be distraction-free or is it a light-hearted celebration?

Know your audience/know your boss. Knowing things that could turn a meeting sour from the start are helpful to know. If a large number of your attendees are vegetarians, you’ll definitely want to factor that into the catering menu. Knowing details about dietary restrictions can make a big difference in the success of a meeting for all involved. Parking. Is parking onsite and is it free? The cost of parking will come out of your overall budget. Audio/visual needs. What is the cost to use the venue’s projector, screen, podium, microphone, etc.? Are you allowed to use your own A/V equipment? Location. Do you need to be near recreational activities or is this just a one-day event? Consider what those involved will enjoy doing when there is down time provided. For example, if your group is adventurous, consider planning something with outdoor hiking or biking options nearby such as the Blackwater Creek Trail or even the Peaks of Otter. However, if a group wants to walk out of their hotel and be within a short distance of shops and restaurants consider staying closer to Main Street. Is WiFi available to meeting attendees? This detail could be especially important if meeting attendees will need to follow along on their laptops or iPads. Keep cultural events and holidays in mind when picking your date. You may not want to hold a meeting during a very busy festival that could potentially close off streets and make it otherwise difficult for attendees to get to and from your event. It doesn’t hurt to ask. Planning a meeting at a venue is a lot like buying a car—there is always room for negotiation. If you don’t ask, the answer is always going to be “No.”

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SPECIAL SECTION

MEETING PLANNER GUIDE

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MEETING PLANNER GUIDE

SPECIAL SECTION

TIPS ON SUCCESSFUL PLANNING

Lisa K. Meriwether

WE SPOKE WITH LISA K. MERIWETHER, THE SALES MANAGER FOR THE LYNCHBURG REGIONAL CONVENTION AND VISITORS BUREAU (LRCVB)

M

eriwether, a native of Central Virginia, is a 30year veteran of the hospitality and sales industry. She sells the Lynchburg region as a destination for meetings, conventions, citywide and sporting events, and leisure travel. Meriwether has worked for several hotel chains including the Radisson and Sheraton Corporations and served as Vice President of Tourism for the LRCVB. Her dedication to the travel industry includes serving as President of the Virginia Association of Convention & Visitors Bureaus and on committees for the Virginia Tourism Corporation and Virginia Hospitality and Travel Association. Meriwether has years of experience working with business owners, planners and city stakeholders to plan events of various magnitudes. Here are her Essential Tips for Success: Build Reliable Connections: “I have worked in the Hospitality, Tourism and Sales Industry just about my entire career and, in my industry, attention to detail and knowing where to find reliable resources are essential to producing successful events and building a solid clientele. It also builds trust with your meeting planners as well as your industry peers and keeps them coming back. Relationships mean everything and building successful relationships takes time, trust and a lot of hand holding along the way.” Take Advantage of the Resources Available: “For visitors, Convention & Visitors Bureaus are like a key to the city. As an unbiased resource, they can serve as a broker or an official point of contact for convention, business and leisure travelers. They assist planners with meeting preparation and encourage business travelers and visitors alike to visit local historic, cultural and recreational sites.”

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Know Who to Ask for Advice: “The Lynchburg Regional Convention & Visitors Bureau aligns itself with more than 25 industry organizations through professional memberships and partnerships gaining us access to current industry trends. We utilize this information to work with event planners to develop a detailed proposal for their event, coordinate site visit itineraries, provide promotional materials as well as connect them with additional resources they need such as lodging, banquet space, venues for sporting events and more.” Embrace Emerging Technology: When I began my career in the Hospitality Industry, I was using an electric typewriter to create client contracts. My first year with the LRCVB I was tasked with developing a website and believe me…it was very simple in function. It’s amazing to look back at how far technology has advanced and increased business opportunities for all stakeholders. The Meeting Professional International monthly publication just recently listed what tech innovation some of their members anticipated the most, and the lists included WiFi—the cost of it and understanding the security measures—virtual reality headsets and holograms—all will change the way we interact with each other. Pretty cool stuff! Have FUN! “Anyone who knows me, knows I’m going to find ways to create a bit of fun in everything I do. I mean really…if you are not having fun, what’s the point?”


HEALTHCARE

A HEALTHY START MAKES ALL THE DIFFERENCE BY JACK I E W E AV E R , R N

C

entral Virginia has reason to cheer. Centra Virginia Baptist Hospital was recently named the region’s first Baby Friendly® hospital. Awarded by Baby Friendly USA, the coveted designation recognizes the hospital’s efforts in 10 key areas, including breastfeeding, rooming-in and skin-to-skin contact, all designed to increase breastfeeding success rates. Centra Virginia Baptist Hospital is one of only four Baby Friendly® designated facilities in Virginia. While the hospital has always been a warm and caring place for moms and babies, the Baby Friendly® designation showcases great strides made in boosting the hospital’s breastfeeding rates. Research clearly points to breast milk as the best nutritional source for newborns and children up to one years old of age. Achieving the Baby Friendly® designation required collaborations with community leaders, physicians and staff, all with an eye towards healthier babies. Research shows breastfeeding benefits babies by lowering the risk for diabetes, Sudden Infant Death Syndrome, ear infections, obesity, allergies, asthma and pediatric cancers. Breastfeeding mothers are at a decreased risk for female cancers, osteoporosis and postpartum depression. A July report indicates breastfeeding rates at Centra Virginia Baptist Hospital climbed from 83 percent a year ago to 92 percent this summer. To put the improvement in perspective, breastfeeding rates were 55 percent in 2009. The Baby Friendly® initiative encourages breastfeeding to heighten health among babies and mothers. The American Academy of Pediatrics recommends exclusive breastfeeding for six months, followed by continued breastfeeding as complimentary foods are introduced for one year or longer as mutually desired by mother and infant.

Enhancing breastfeeding rates is an important community health issue. According to Womenshealth.gov, which tracks health statistics, research shows if 90 percent of families breastfed exclusively for six months, nearly 1,000 infant deaths could be prevented. Breastfeeding rates also affect the economy. According to statistics, the United States could save $2.2 billion in healthcare costs through higher breastfeeding rates since breastfed infants typically require fewer sick care visits, prescriptions and hospitalizations. For employers, breastfeeding leads to a more productive workplace. Mothers who breastfeed miss less work to care for sick babies than mothers who formula feed. Employers also save on medical costs. Centra Virginia Baptist Hospital offers a wide range of breastfeeding support for new mothers, including certified lactation consultants and a Baby Café, which meets twice a week to provide lactation support, free baby weight checks and peer support from other nursing mothers at the Center for Childbirth and Family Education at Centra Virginia Baptist Hospital. Through the Baby Friendly® initiative, the hospital embraces skin-to-skin contact immediately after delivery, allowing newborns to spend their first hour on mom’s chest. Skin-to-skin contact enhances bonding, regulates a newborn’s temperature and enhances breastfeeding success. The hospital also promotes rooming-in, which keeps moms and newborns together at the hospital. Statistics show rooming-in reduces a newborn’s crying and encourages better sleep by allowing parents to learn a baby’s sleep cycle and feeding cues. Centra embraces a mission of “excellent care for life.” The journey begins with a healthy start.

BREASTFEEDING STICKERS SUPPORT MOMS, BABIES A wave of support for breastfeeding moms and babies is growing all across Lynchburg. This year, more than 100 restaurants and businesses placed blue “Breastfeeding Welcome Here” stickers on their entrances. The stickers are part of a Live Healthy Lynchburg initiative to encourage breastfeeding across the city. Live Healthy Lynchburg, which has championed programs to fight childhood obesity for years, spearheaded the charge to have business owners post the stickers. According to Rachel Gagen, MD, a Lynchburg pediatrician, communities across the country have improved breastfeeding rates by placing simple stickers inside businesses to reassure parents that they will find a welcoming environment. Gagen, a co-founder of Live Healthy Lynchburg, said the sticker was developed with Central Virginia Health District. “There are some breastfeeding mothers out there who don’t need this sticker. They are comfortable in public without it, or no amount of stickers will make them comfortable. The breastfeeding welcome sticker is mostly for the moms in the middle, who would consider going home to feed a hungry baby, but because of this sticker, they feel welcome to stay and therefore, continue to shop, eat and socialize. These businesses are smart to encourage these moms to stay,” Gagen said. For more information, visit LiveHealthyLynchburg.com.

Jackie Weaver, RN, manages the Mother Baby Unit at Centra Virginia Baptist Hospital. Centra offers childbirth and family education classes through the Center for Childbirth and Family Education at Centra Virginia Baptist Hospital. To register for classes or for more information, visit CentraHealthRegister.com or call (434) 200-4573. For more information about care at Centra Virginia Baptist Hospital, visit WC.CentraHealth.com.

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FINANCIAL

BE PREPARED:

Advice for the Business Owner on Diversifying Net Worth

I

BY TO M M Y DO UKAS

f you own a business this may sound familiar— most of what you own is tied to your business. If your biggest asset is your business, does it make sense to value it regularly? It certainly may.

Having most of your net worth in business holdings means your personal finances are constantly at the mercy of the success or failure of your business. Your retirement depends on being able to successfully pass on, sell or liquidate your business. If this describes your finances, you are likely not alone. Nathan Kolb, Director of the Small Business Development Center at CVCC, says there are over 6,500 businesses with less than 100 employees in our local region. He agrees that “most small business owners are so consumed with day to day operations, and keeping the lights on, that they do not make time to consider the impact their business will have on their financial future.” YOUR BIGGEST ASSET DESERVES ANALYSIS Regularly thinking about what the business is worth to someone else requires effort. You need well-managed books and records, a legal and tax structure that keeps pace with your business as it matures, analysis of your customers and competitors and repeated examination of your overall operational structure. “As a business owner you are emotionally attached to the business. You may value the business more than an outside buyer realistically would, or overlook important areas that can actually increase the value to outside investors,” says Bryan Johnson, CPA, of Johnson CPA & Associates, PC. “An independent consultant can provide fair and balanced advice, and give you time to make necessary changes to comfortably retire. Wait too long to get that advice, and you may find that the retirement value is not enough, and there is no time to adjust.” Taking steps to value the business can also benefit you long before the sale. It can highlight potential issues and help you prevent them before they occur, such as being too reliant on specific employees, customers or suppliers. Focusing on the sale early is like looking far ahead while driving—you end up seeing everything in front of you and can better adapt as needed.

A LOOMING ISSUE ON THE HORIZON Over the next two decades approximately 70 million baby boomers are going to stop working, and many of them are business owners. Supply and demand of businesses for sale is going to shift in a way that will challenge all business owners. Some assume the sale of their business will happen years from now in an orderly and profitable manner, but a health issue in the family, or the death or disability of the owner, can easily derail plans and quickly accelerate the sale. Whether it is an internal or external sale, value is lost when a sale is rushed and sloppy. According to James D. Fairchild, Attorney and Managing Partner at Fairchild and Yoder, PLLC, “Potential buyers are going to want your business to be in order. The ability to have your corporation status current and have your customer contracts up to date will show that you are running an efficient operation.” If you have focused on your sale value consistently, the business will stand out and be attractive to qualified purchasers. If you plan to sell to a family member or an existing employee, make sure you agree on the value of the business long before you plan to sign on the dotted line. Many businesses are sold with some owner financing involved because the buyer either lacks the will or ability to pay entirely in cash and plans to use the business’ cash flow as the means to pay you back. This arrangement represents a huge risk to you, and while it is the nature of a business owner to take risks, doing so as a spectator after the sale is not ideal. If most of your net worth may end up tied to a business you no longer control, should you be working to minimize this risk? SOLUTIONS TO CONSIDER One way to limit the potential impact your business has on your retirement is to diversify your investments. You may be thinking investment properties, but that is actually just another type of business that has the same challenges. Accumulating cash, inside or outside of the business, and then working with an advisor to buy investments that do not require your constant attention or control can help you balance out your net worth. With a focus on accumulating cash, you can also choose to create your own exit strategy, where the business is sold but the cash leaves with you as part of the down payment. Considering an Employee Stock Ownership Plan (ESOP) or choosing to sell over time in a multi-year transfer can also smooth out many issues. Running a business is never easy and valuing the business on a regular basis takes additional time and skill. The value it can bring now and in the future means it is worth considering seriously. Finding knowledgeable advisors and starting as soon as possible can ensure the outcome you get is the one you want. Disclosure: Thomas Doukas is a registered representative of and offers securities, investment advisory and financial planning services through MML Investors Services, LLC. Member SIPC. Supervisory Office: 222 Central Park Ave, Suite 1100, Virginia Beach, Va. (757) 490-9041. CRN201709-195653 Doukas is a Financial Planner with Massachusetts Mutual Life Insurance Company (MassMutual) in Lynchburg, Va. He focuses on helping business owners and individuals plan for their financial futures. Contact him at tdoukas@financialguide.com.

OCTOBER/NOVEMBER 2015

LynchburgBusinessMag.com

27


SPECIAL SECTION

TEA TIME

with George Caylor

G

eorge Caylor is a Chartered Financial Consultant who moved his international financial planning practice from Heidelberg, Germany to Lynchburg, VA in 1987. He owned a home in Atlanta but wanted a slower-paced lifestyle for his family.  After “auditioning” several other cities, Lynchburg stood out as the safest, cleanest and most attractive place in America for quality living.  After 28 years in Lynchburg, that hasn’t changed.

But America changed dramatically. In just 25 years the nation devolved from prosperity and freedom to unsustainable spending and unpayable debt.  From being the envied role model of the world, to being disrespected by friend and foe alike. So George created “Tea Time,” an entertaining one-minute daily message on Constitutional government and our JudeoChristian heritage.  It is aired on radio and on the internet to educate Americans on how our freedoms are endangered, and to equip Americans to win the war of ideas. You can listen to “Tea Time” by radio, or order it delivered by email free-of-charge at www.TeaWithGeorge.com every weekday.  For more info on Tea Time or financial questions, call 434-455-7197 or email George@OnTheRightSide.com.

28

LynchburgBusinessMag.com

OCTOBER/NOVEMBER 2015

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Karl Miller Team’s mission is “To help the people of greater Lynchburg achieve their home ownership dreams.” Enthusiastic, knowledgeable and friendly, we value relationships and are building solid business from the referrals of our clients. Thanks Lynchburg for voting Karl “Best Real Estate Agent” in the 2015 N&A Readers Choice Awards. We look forward to continue serving the fine people of Central Virginia with excellence. Our future is bright.

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THE KARL MILLER TEAM | MARK A. DALTon & Co. - BRoKER 504-A WynDHuRsT DRIvE, LynCHBuRg, vA 24502 | (434) 239-2394 | WWW.KARLMILLERTEAM.CoM

Most financial firms buy products for their clients (mutual funds, annuities, ETFs, REITs). We buy businesses. Nothing can impact your future wealth like owning a successful business. Our investment process is selective: focusing on debt-free companies with dominant market positions to build wealth in your IRA, 401(k), 403(b) or taxable accounts. Be Selective. Buy the Best. To learn about our recent purchases, visit our website or schedule a meeting with an advisor today.

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SELECTIVE WEALTH MANAGMENT | 828 MAIN STrEET, SuITE 1703, LyNCHburG, VA. | 434-515-1517 | WWW.SELECTIVEWM.CoM

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CREATIVE EDGE DESIGN | 4026 WARDS ROAD, ALTAVISTA, VA 24517 | (434) 384-0628 | WWW.CEDI.BIZ

REFRESH AUTO & PET SPA | 22087 TIMBERLAKE ROAD, LYNCHBURG, VIRGINIA 24502 | 434-382-7011 | WWW.FACEBOOK/REFRESHWASH

Exterior Tunnel Carwash and Do-It-Yourself Pet Wash! Equipped with state-of-the-art friction technology that exceeds all expectations for efficiency ng patients in the Lynchburg area and beyond—continuing a “The 40-year is toLamborghini’s manufacturing plants.” We strive to provide our customers with the fastest, and wash quality. sametradition. equipmentTheir used inmission Ferrari and cated technology. cleanest, shiniest car wash experience possible at a great price. At Refresh Auto Spa, INSURANCE we use earth-friendly cleaning thatMILL will not harm LYNCHBURG, the SCOTT | 1301 OLDsolutions GRAVES ROAD, VA 24502 | 434-832-2100 | SCOTTINS.COM environment. We support local non-profit organizations by offering fundraising opportunities through on-site car wash fundraising events. Our Do-Itn Lynchburg since 1864, Scott provides property and casualty, employee benefits, surety bond and personal nts the latest advancements andInsurance provide The maximum comfort improving overall health, ”has creative team atwhile Cornerstone Cabinets and been serving greater area a decade. commitment to excellence and unique Yourself Pet Wash is designed not just for easedental of useDesign of pet owners, but also for thethe health of theirLynchburg pets’ coats and skin.for Weover provide a uniqueTheir selection es. While we have grown to be one of theapproach largest agencies in the southeast, Lynchburg is our hometown. We’ve been of veterinary-approved premium, natural andworkspaces specialty shampoos in them our wash options. Refresh Pet Spa is dedicated to helping pets find their forever to creating stunning, functional makes one of Lynchburg’s premier design choices. als and businesses in the Lynchburg community with their riska portion management needs goes for over years and fees of a deserving Pet. home; each timeinsurance the Pet Spa and is used, of the proceeds to pay150 for the adoption

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each of their customers. This business offers traditional, modern and| 434-382-7011 transitional designs aiming to meet every business or family’s needs. REFRESH AUTO & PET SPAlocally | 22087owned TIMBERLAKE ROAD, LYNCHBURG, VIRGINIA 24502 | WWW.FACEBOOK/REFRESHWASH iles. The team at Lynchburg Dental Center is dedicated to serving patients in the Lynchburg area and beyond—continuing a 40-year trad T INSURANCE | 1301 OLD GRAVES MILL ROAD, LYNCHBURG, VADesign 24502collaborates | 434-832-2100 | SCOTTINS.COM Cornerstone Cabinets and with homeowners, builders and architects to incorporate custom features functionality in every project. provide patients optimal results by using the and most sophisticated technology.

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PLACES The practice offers comprehensive exams, hygiene services, treatment of periodontal (gum) disease, extractions, permanent implants, fillings, dentures, “SELECTIVE WEALTH MANAGMENT” LynchburgBusinessMag.com OCTOBER/NOVEMBER 2015 29 whitening and crown and bridge work. In addition, they feature digital radiography and screenings for oral cancer.

“LYNCHBURG DENTAL CENTER”

Lynchburg Dental Center—ensuring confident, healthy smiles.

Most financial firms buy products for their clients (mutual funds, annuities, ETFs, REITs). We buy businesses. Nothing can impact your future wealth like owning a successful business. Our investment process is selective: focusing on debt-free companies with dominant market positions to build wealth in your IRA, 401(k), 403(b) or taxable accounts. Be Selective. Buy the Best. To learn about our recent purchases, visit our website or schedule a meeting with an advisor today.


THE FACES BEHIND

“CORNERSTONE CABINETS & DESIGN”

FACES behind the PLACES

The creative team at Cornerstone Cabinets and Design has been serving the greater Lynchburg area for over a decade. Their commitment to excellence and unique approach to creating stunning, functional workspaces makes them one of Lynchburg’s premier design choices. From consultation to design and installation, the Cornerstone team’s attention to detail and eye for flawless craftsmanship helps create dream rooms unique to each of their customers. This locally owned business offers traditional, modern and transitional designs aiming to meet every business or family’s needs. Cornerstone Cabinets and Design collaborates with homeowners, builders and architects to incorporate custom features and functionality in every project.

CORNERSTONE CABINETS & DESIGN | 171 VISTA CENTRE DRIVE, FOREST, VA 24551 | 434-239-0976 CornerstoneCabinetsAndDesign.com


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“ACCESS ADVISORS”

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Amanda E. Stiff, Investment Advisor, Founder/Owner of Access Advisors, LLC What makes us truly unique? We are Independent Financial Advisors. There are no sales quotas, no in-house products to “push”, just us working with you. We listen. We coach. You take control. We are women advising women – professional women, business owners, trustees of small trusts and women facing the challenges that come with career change, divorce, death of a spouse or an inheritance. Let’s collaborate on your financial future. ACCESS ADVISORS | 1305 LANGHORNE ROAD, LYNCHBURG, VA 24503 | (941) 366-7504 | ACCESSADVICE.NET


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“BUSINESS COACHING”

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Is the business running you? Is modern technology keeping things on top of you instead of you on top of things? If your answer is “yes” to either of these questions, then Business Coaching could be a solution. Mike works with small business owners to determine priorities, create business plans and measure results weekly. Making a living should not prevent you from having a life! To schedule a consultation, email: cookmike@icloud.com. MIKE COOK BUSINESS COACH WITH BWI GROUP | BWIGROUP.ORG


THE FACES bEHIND

“SELECTIVE WEALTH MANAGMENT”

FACES behind the PLACES

Most financial firms buy products for their clients (mutual funds, annuities, ETFs, REITs). We buy businesses. Nothing can impact your future wealth like owning a successful business. Our investment process is selective: focusing on debt-free companies with dominant market positions to build wealth in your IRA, 401(k), 403(b) or taxable accounts. Be Selective. Buy the Best. To learn about our recent purchases, visit our website or schedule a meeting with an advisor today.

SELECTIVE WEALTH MANAGMENT | 828 MAIN STrEET, SuITE 1703, LyNCHburG, VA. | 434-515-1517 | WWW.SELECTIVEWM.CoM


THE FACE BEHIND

“FINANCIAL PLANNING ”

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As a Financial Planner, I have to put the needs of my clients before my own. Doing right by my clients 100% of the time means happy clients. My recommendations may help my clients retire sooner, send their kids to college and sleep easily knowing that they are properly insured. Succession planning helps my business clients plan for the unexpected, and may result in them obtaining a higher value from the sale of their business. Let’s customize a plan for you. Tommy Doukas is a registered representative of and offers securities, investment advisory and financial planning services through MML Investors Services, LLC. Member SIPC. Supervisory Office: 222 Central Park Ave, Suite 1100, Virginia Beach, VA. (757) 490-9041.

TOMMY DOUKAS | 7331 TIMBERLAKE RD, SUITE 103 | LYNCHBURG, VA 24502 | OFFICE: 434-406-4825 | EMAIL: TDOUKAS@FINANCIALGUIDE.COM CRN201709-196165


THE FACES BEHIND

“REFRESH AUTO & PET SPA”

FACES behind the PLACES

Exterior Tunnel Carwash and Do-It-Yourself Pet Wash! Equipped with state-of-the-art friction technology that exceeds all expectations for efficiency and wash quality. “The same equipment used in Ferrari and Lamborghini’s manufacturing plants.” We strive to provide our customers with the fastest, cleanest, shiniest car wash experience possible at a great price. At Refresh Auto Spa, we use earth-friendly cleaning solutions that will not harm the environment. We support local non-profit organizations by offering fundraising opportunities through on-site car wash fundraising events. Our Do-ItYourself Pet Wash is designed not just for ease of use of pet owners, but also for the health of their pets’ coats and skin. We provide a unique selection of veterinary-approved premium, natural and specialty shampoos in our wash options. Refresh Pet Spa is dedicated to helping pets find their forever home; each time the Pet Spa is used, a portion of the proceeds goes to pay for the adoption fees of a deserving Pet.

REFRESH AUTO & PET SPA | 22087 TIMBERLAKE ROAD, LYNCHBURG, VIRGINIA 24502 | 434-382-7011 | WWW.FACEBOOK/REFRESHWASH


THE FACEs BEHInD

“THE KARL MILLER TEAM”

FACES behind the PLACES

Karl Miller Team’s mission is “To help the people of greater Lynchburg achieve their home ownership dreams.” Enthusiastic, knowledgeable and friendly, we value relationships and are building solid business from the referrals of our clients. Thanks Lynchburg for voting Karl “Best Real Estate Agent” in the 2015 N&A Readers Choice Awards. We look forward to continue serving the fine people of Central Virginia with excellence. Our future is bright. THE KARL MILLER TEAM | MARK A. DALTon & Co. - BRoKER 504-A WynDHuRsT DRIvE, LynCHBuRg, vA 24502 | (434) 239-2394 | WWW.KARLMILLERTEAM.CoM


THE FACES BEHIND

“LYNCHBURG DENTAL CENTER”

FACES behind the PLACES

The team at Lynchburg Dental Center is dedicated to serving patients in the Lynchburg area and beyond—continuing a 40-year tradition. Their mission is to provide patients optimal results by using the most sophisticated technology. “We continuously further our education to bring our patients the latest advancements and provide maximum comfort while improving overall dental health,” explains Dr. Crawford. The practice offers comprehensive exams, hygiene services, treatment of periodontal (gum) disease, extractions, permanent implants, fillings, dentures, whitening and crown and bridge work. In addition, they feature digital radiography and screenings for oral cancer. Lynchburg Dental Center—ensuring confident, healthy smiles.

LYNCHBURG DENTAL CENTER | 3719 OLD FOREST ROAD, LYNCHBURG , VA 24501 | 434-384-7611 | WWW.LYNCHBURGDENTIST.COM


THE FACES BEHIND

“CREATIVE EDGE DESIGN”

FACES behind the PLACES

Creative Edge Design is Central Virginia’s leading creator in vinyl advertising for business and pleasure. We strive to create the most eyecatching, effective vehicle wraps that will flaunt your business wherever you go, whether your vehicle is moving or parked. A wrap is the most efficient way to promote your business, cause, event, or even to customize your personal vehicle. We invite you to stop by our shop to see what we can do for you! Your imagination is your limit.

CREATIVE EDGE DESIGN | 4026 WARDS ROAD, ALTAVISTA, VA 24517 | (434) 384-0628 | WWW.CEDI.BIZ


THE FACES BEHIND

“SCOTT INSURANCE”

FACES behind the PLACES

Headquartered in Lynchburg since 1864, Scott Insurance provides property and casualty, employee benefits, surety bond and personal insurance services. While we have grown to be one of the largest agencies in the southeast, Lynchburg is our hometown. We’ve been helping individuals and businesses in the Lynchburg community with their insurance and risk management needs for over 150 years and plan to continue for the next 150 years. Visit us at scottins.com to learn how we can help you.

SCOTT INSURANCE | 1301 OLD GRAVES MILL ROAD, LYNCHBURG, VA 24502 | 434-832-2100 | SCOTTINS.COM


COMMERCIAL REAL ESTATE them, many opt to bring in a tax credit broker to facilitate the allocation of tax credits to individuals and businesses with high tax liabilities. The potential to monetize these tax credits upon completion of the rehabilitation and recoup their investment makes these deals attractive to upfront equity investors. THE PURPOSE & BENEFIT OF HISTORIC TAX CREDITS As restoring these buildings the right way typically comes with a high price tag, the aim of the tax credit program is to incentivize the preservation of historic properties by making financially infeasible projects feasible. Since 1997, the City of Lynchburg has seen 78 successfully completed rehabilitation tax credit projects with a total expenditure of $172,010,083 invested in the local economy for the preservation of historic properties, resulting in $42,091,728 in state rehabilitation tax credits and an estimated $34,402,017 in federal rehabilitation tax credits total.

DOWNTOWN CATALYST: Historic Tax Credits BY B I LLY H AN SE N

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eople are taking notice of the rapidly changing landscape of downtown Lynchburg. Dilapidated and underused historic buildings continue to be carefully restored and brought back to life with a mix of apartments and street level commercial uses. All parties involved point to the state and federal historic tax credit program as the single greatest catalyst for this recent downtown revitalization. Since the enactment of the state program in 1997, historic tax credits have been used in every major downtown project, including the Craddock Terry Hotel, Amazement Square, the Riverviews Artspace, numerous loft conversions and many more projects ranging in size from $25,000 to $10,000,000 in expenditures. Given their critical role in completed projects and those in the pipeline, how does the tax credit program work exactly? THE BREAKDOWN ON HISTORIC TAX CREDITS Essentially, in exchange for following the guidelines and standards for historic preservation set by the National Park Service (NPS) and the Virginia Department of Historic Resources (DHR), which will have final approval of all plans and hold you accountable throughout the project, the property owner receives tax credits equal to a percentage of eligible rehabilitation expenses (this includes carpentry, electrical and other trade work, but excludes acquisition costs, appliances and work outside of the building footprint). Rates are 20% for federal and 25% for state. These tax credits, which are received at the completion of the project and can be used for up to 10 years, offset tax liabilities (i.e. if you owe $50,000 in federal taxes and possess $50,000 in federal historic tax credits, you owe nothing). While the developer can opt to keep

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HOW HISTORIC TAX CREDITS LOOK IN ACTION With an understanding of the huge macro impact, let’s sit in the driver’s seat of a typical deal: Suppose you’ve found a four-story, 20,000-square-foot brick building in the heart of downtown that was originally built as a tobacco warehouse in the 19th century. The only recent activity this structure has seen was the hanging of a “For Sale” sign in the window a few months back. Despite its sad state of disrepair, you see the great bones and envision a second life for this building as a thriving place once again. You have negotiated a sale price of $500,000 and a 6-month study period to conduct due diligence, which will include confirming that the property is eligible for historic tax credits through a Part 1 application to DHR, finalizing your equity (which will either come from your pocket or your investors) and your debt, having your architect and engineer draft plans, having those plans approved by DHR through a Part 2 application, bidding out the work to contractors and firming up the renovation cost, rental income and operating expense inputs in your pro forma. Deals can fall through for any number of reasons during this period. Your investors or your lender may have doubts about your projections or the market in general and decline to participate. DHR’s revisions to your renovation plans could make your proposed development unworkable or so cost prohibitive that based on current rental projections, you would be upside down on your loan payments. Smart developers do not ignore the red flags and are happy to let a deal go if it stops making sense. Your due diligence yields an approved Part 1 and Part 2, a finalized renovation plan, a firm quote to complete the work at $2,000,000 ($100 per square foot) and commitments from your lender and your investors. Time to move to closing and start swinging hammers. Twelve long months later, rehab is complete. DHR checks your work and signs off on the Part 3 application, which entitles your ownership group to $400,000 in federal tax credits and $500,000 in state tax credits. Lease-up of the 20 loft apartments and 2,500-square-foot commercial space is underway. Proud of your team’s work, you head back downtown to start looking for the next deal. While the success stories in our area are numerous, risk is always present and historic tax credits will not make your project bulletproof or immune to market forces. As always, do your homework (the NPS and DHR websites are a great start) and seek wisdom from professionals with experience and knowledge in navigating the historic tax credit process. At the very least, visit downtown and witness how private sector investment and a government program have fueled historic preservation and responsible revitalization in our community. Billy Hansen, MAI serves the Lynchburg area as the principal commercial real estate appraiser of Hansen Realty Advisors, LLC and as an agent with Cushman & Wakefield | Thalhimer. To discuss cap rates some more, email him at hansenrealtyadvisors@gmail.com.


LEADING LADIES

LISA K. MERIWETHER Occupation: Sales Manager, Lynchburg Regional Convention and Visitors Bureau (LRCVB)

Hometown: Lynchburg, Va. What does your work entail? As Sales Manager for the LRCVB I sell the Lynchburg region as a destination for meetings, conventions, citywide and sporting events, as well as leisure travel. It is my job to effectively showcase our community as a destination of choice for these events. It begins by building strong relationships … and showing why Lynchburg would be a good fit for an event.

What excites you the most about your work? In my work world…every day is different! This is what I love most about my work. … One day you are discussing meeting room set ups and high tech audio visual needs and the next day you will find yourself touring and discussing locker rooms and how to feed 500 youth athletes on a budget.

What are some lessons you’ve learned? Take the time to build solid relationships. . . Bridges burned are just that. Don’t do it if you can help it. You never know where that next career resource or client might come from.

What are some strategies that you prioritize in business? I remain positive with a bright outlook. It helps others feel at ease, making for strong relationship building. I want others to be successful, which in turn makes me successful.

What unique challenges do women in business face? A challenge for women in my industry is that it’s still common practice among some companies and organizations, in an effort to save money, to assign the planning of events to in-house secretaries or executive assistants— typically women—who haven’t had any planning experience or training. While many industry and tourism associations have made efforts to promote the economic value of what we do, there is more work to be done when it comes to championing the profession itself. I think women have entered into a profession that doesn’t garner enough respect because people think what we do is travel to “fun” destinations for industry shows and are simply party planners. Women tend to be detail-oriented with a natural ability to multitask, which are two components that are essential to success in the profession. And though many female event professionals feel highly valued by their companies and organizations, the profession deserves more credibility and respect.

What’s your philosophy on finding a balance between work and family life? I cannot imagine a time that there will not be a work-family balance issue. What I can tell you is, during my career, I have seen a shift in how family balance is accommodated in the workforce. Over the years I have shifted from working impossibly long hours and making myself available 24/7 to everyone. I have learned to be more selective when it comes to demands on my time. Learning to say “No” and not feel guilty about it. There was a time coming into work early and staying late meant you were “dedicated” to your job. Thank goodness this is no longer the norm. As a single mother, I have learned to focus on planning my days in advance and if an issue pops up, as they always do, I don’t beat myself up over it if I have to make a change in my schedule and daily priorities.

How can women in business lead effectively? The old business management style of “My Way or the Highway” no longer works (did it ever?) for a multi-generational, multicultural team. As a leader (man or woman), you must allow alternate drivers within your team to be given responsibility, to delegate, train and be involved in making key decisions. It’s all about your communications style, both professionally and personally.

Share some about your personal background: Born and raised in Campbell County. Married Stephen Meriwether in 1991 and have one son. I have been raising him as a single parent since Stephen’s death in the spring of 2009. I have served on the Board of Directors of the YWCA of Lynchburg since 2007. . .I am very active with my son’s extracurricular activities through the Jefferson Forest Marching Band, as well as his involvement with their Wind Symphony. A very rewarding experience for me was my involvement with our local United Way of Central Virginia speaking to members of our business community. . .[g]etting to know the partner agencies they support really opened my eyes to the need in our very own community.

What’s the best piece of advice you’ve ever received? From my father…just one word…Patience. And we’ll just leave it at that.

What one piece of advice would you share with others? I hear myself saying this over and over…Live your life in the moment. I think it was Dolly Parton who said, “Don’t get so busy making a living that you forget to make a life.”

Any closing comments? As a woman in the business community I have learned the following: to believe in myself and my abilities, don’t go it alone—reach out to others for advice when you need it, and don’t sweat the small stuff. And we all know— it’s all small stuff!! OCTOBER/NOVEMBER 2015

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LEADER PROFILE

LEADER PROFILE BYRON STEWARD Occupation: Executive Director, Business Development Centre, Inc. Hometown: Madison Heights, Va. Can you explain your role with the Business Development Centre (BDC) for those who may not be familiar with it? My responsibilities are to (1) oversee the operation of a 42,000-square-foot business incubator, (2) provide small business consultation services for current business owners and aspiring entrepreneurs, (3) direct the “Basics of Business” training program, and (4) manage a $2 million dollar loan portfolio consisting of five separate loan funds for business start-up and expansion in Region 2000. I have been employed with the BDC for 12 years.

What was your business experience prior to joining the BDC? My first job after graduating from Virginia Tech was with Best Products as a retail manager. After working through two Christmas seasons, I knew that was not for me. I was preparing to return to Tech to get my Master’s when an opportunity to get into banking became available. My banking career began when I was hired to work for Central Fidelity Bank in 1988. I spent the first 12 years with CFB until the merger with Wachovia. After that, I worked for short periods of time with Nations Bank/Bank of America and Washington Mutual Bank before coming to the Business Development Centre.

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Tell us what the BDC does, and what led you to become involved. The BDC provides services to the business community by (1) providing facility space to start-up and emerging businesses, giving them an opportunity to reach a maturity level which will help insure long term success for their operation, (2) providing in-depth consultation, training courses and seminars to improve the skill sets of current business owners and aspiring entrepreneurs, (3) providing direct financing alternatives when conventional means are not a viable option. I became involved with the BDC because it allowed me to utilize my 15 years of banking experience in the area of economic development for the City of Lynchburg and Region 2000.

How has the centre grown and developed over the last year or so? The growth of the BDC is realized in the amount of dollars we have extended to the business community and the addition of two loan funds to serve Region 2000. We have advanced 65% of our total loan portfolio. We currently have $1.4 million dollars in outstanding loans and have established a $1 million loan fund with the Lynchburg Economic Development Authority and $250,000 with the Lynchburg Area Development Corporation. These funds are for small business start-up and expansion in the City of Lynchburg and Region 2000 respectively. We have been diligent in getting these funds in the hands of the business owners.


LEADER PROFILE Why are centres such as the BDC so critical to the success of a community?

Which attributes carry someone through the ups-and-downs of a career?

Development centers help the local economy in the areas of job creation. They support development of new, start-up businesses, which create opportunities for employment. They provide an opportunity for growth and development in the areas of network contacts, client referrals and mentors. They are a support group for the business community at low or no cost.

Faith and belief in your abilities. You are never as good as you think you are and never as bad as “they” say you are. Enjoy the “ups” because they will not last forever and do not dwell too much on the “downs” because you think they will never end. Keep it simple and focus on the things that you are able to have a direct impact on for the desired result.

From your observation of business startups, what would you say are the secrets to successful entrepreneurship? What elements must be present?

In terms of leadership, which skills are essential for success?

From the ownership standpoint, the entrepreneur must have the desire and the ability to operate a business. There is a difference between being able to provide a service or make a product and being able to run a business in providing that service or making that product. From a product standpoint, an entrepreneur must accurately identify the demand for a product or service to determine if it is a viable opportunity. To have a business, you must have customers. The question that must be answered is “Are there enough customers for the business to successfully compete in the marketplace whose needs are not currently being met by the competition?”

What’s next for the BDC? What about 5 years from now? To continue to be a one stop resource for small business assistance. I would like to expand the “one stop resource” concept by having other organizations that provide small business assistance to relocate their operations into the Business Development Centre. By doing this, every person in Region 2000 will know they can come to one location to get their business questions answered and their needs met.

What are the critical differences between a “co-working space” and an actual “business incubator” where additional supports are offered to business owners? The benefits of an incubator are: 1. Training and consultation services are available on site at no cost 2. Availability of office resources 3. Networking opportunities with our business partners 4. Supportive environment with other business owners 5. Assistance in getting capital via our loan programs

For one involved in many aspects of business, what are some critical lessons you have learned along the way? 1. Understand the industry and market in which you are trying to compete 2. Know what external factors could negatively impact your chances of success 3. Know the demographics of the target market that is most likely to buy your product 4. Do not start undercapitalized…get the capital that you need to successfully launch your business

What’s one part of your job that you dread? Why? Telling someone “no.” It is usually someone’s dream to go into business for themselves. It is difficult to be a barrier to that dream.

What’s the part of your job that excites you the most? Seeing a business that utilized our services in previous years grow and create jobs. Whether the business received consultation services, borrowed money or was a previous incubator tenant, seeing that owner be successful and create jobs for the individuals who want to work…there is no better reward.

The ability to plan, organize, communicate and control. Plan activities that will accomplish your goals. Organize your personnel [in such a way that puts] them in the best positions to succeed [in their] goals. Consistent communication of expectations and acceptable performance parameters and outcomes. Control your environment to the best of your ability and accurately identify the things out of your control.

Share some about your personal background. I am a graduate of Amherst County High School (class of ’81) and Virginia Tech (class of ’86). I have been in a lending capacity with either conventional banks or the BDC for 27 years. I am an avid golfer…albeit a terrible one. I love this sport because your success or failure is all on you. I have a wife who still puts up with me, two kids who are grown now and making their own way and a 6-year -old grandchild who rules my world.

This issue features our Top 20 Under 40 individuals. What advice would you give to those who are in the early part of their careers? Work hard and play hard. We work, so we can live…we do not live to work. Make sure you have a good balance between the two. The more enjoyable your time away from work is…the more productive you will be at work. The harder you work… the more you will enjoy your time away from it.

What do you consider to be Lynchburg’s greatest assets? The diversity of its residents and their willingness to work to accomplish a task when the opportunity presents itself.

What’s the best piece of advice you’ve ever received? I learned about integrity from my dad. He told me that “integrity is what you have when people are not watching.”

What one piece of advice would you share with others? If you are not the lead dog, the view is always the same. I got that from the CEO of Central Fidelity Bank 27 years ago, and I still use that quote today. There is nothing better than being in first place when you have worked and prepared to get there. However, you will not win all the time, but if you prepare for it to the best of your ability…you will be satisfied with whatever the outcome is.

Any closing comments? Lynchburg and Region 2000 have several organizations that provide assistance to the small business community. The resources are available to assist you in all aspects of small business. Utilize them such as your: 1. Economic Development Offices in your locality 2. Chamber of Commerce in your locality 3. The Service Core of Retired Executives (SCORE) 4. The Small Business Development Centers (SBDC) 5. The Region 2000 Business and Economic Development Alliance Utilize the resources of these organizations and the Business Development Centre, Inc. as you launch or expand your business. OCTOBER/NOVEMBER 2015

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1st Annual

In June, Lynchburg Business launched the search for this year’s “Top 20 Under 40” in collaboration with Lynchburg’s Office of Economic Development and Region 2000’s Young Professionals of Central Virginia. The purpose was to identify the outstanding young professionals of the Greater Lynchburg region. Honorees were chosen by an independent judging panel formed of members from our partnering organizations and the local business community. With over 150 publicly submitted nominees to choose from, the panel focused on identifying the best and brightest among them: individuals who exemplify success in their professions while also working within the community to advance the region as a whole. These individuals represent the best that our region has to offer in young, innovative, creative and motivated talent. In a nutshell, they are those who consistently strive to better themselves and those around them in their places of work and beyond. >>

P ORT RAI TS BY M I TC HEL L BRYANT

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FEATURE

LUKE TOWLES AGE: 38 OCCUPATION: Banker/Market President for Wells Fargo

AMANDA NOELL STANLEY AGE: 35 OCCUPATION: President/CEO of DePaul Community Resources

About Amanda: About Luke: Leads the Lynchburg Business Banking team to meet the financial needs of the local business community and to lead community involvement efforts. Chairman of the Biz Forward Task Force for the Lynchburg Chamber of Commerce; board member for the Academy of Fine Arts and Amazement Square, which recently won a national award; serves as a Partnership Team Member with the XLR8/STEM Academy; volunteers as a Global Leadership Team Member at Brentwood Church.

Failure is. . . the best instructor; I have learned the most when humiliated by failing at a task or objective.

Professionally, I am most proud of. . . the accomplishments of my clients; I really enjoy seeing them watch their dreams come to life.

Inspiration comes from. . . God. Everything that I do is inspired by what I believe God desires from me as a person.

My role model is. . . my dad; throughout my life, he has modeled a consistency in his faith, his work and his relationships. I hope to do the same for my children.

In his words: “Lynchburg has major economic headwinds in the near term. Fortunately, many stakeholders have recognized the potential risks ahead and have collaborated with one another to work on strategies to minimize potential weaknesses and better support and promote current and potential entrepreneurs to succeed and grow. As a region, Lynchburg is an attractive place for people to live and grow, both personally and professionally. We have the opportunity to market our resources and potential.” 46

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Leads DePaul, a nonprofit with over 200 employees across 18 regional locations, which helps those involved in (or at risk of involvement) in the child welfare system and for individuals with intellectual and developmental disabilities. Serves as a board member at Centra Bedford Memorial Hospital and serves on the Patient Quality and Care Committee. Chairs the Campbell County Community Policy and Management Team; a founding board member of the Virginia NonProfit Leadership Council; a graduate of the 2014 Cohort for Change through Batten Leadership Institute at Hollins University.

Motivation comes from. . . the gaps I see between what is and what could be—between reality and possibility.

Over the next 5 years. . . I want to help our sector become more relevant—a game-changer for solving largescale problems.

Failure is. . . the key to success. Failure is the mother of all teachers. If we let them, our failures can tell us everything we need to know.

The Lynchburg business community is unique because . . . it is rooted in the diversity and depth of its people and its geography.

In her words: “In the future, I envision that the nonprofit organizations who partner well will thrive. Nonprofits are built around the idea that they can change the world and solve huge social problems, but none of us can make much of a dent on our own. Until our sector figures out how to be a relevant partner in the larger ecosystem and learns to invite trusted partners into our work, we will not be able to scratch the surface of our potential. The communities we serve need our help and cannot afford for us to think small or to do our work in isolation.”


FEATURE

RACHEL GAGEN, MD IBCLC AGE: 38 OCCUPATION: Pediatrician;

Founding member and website creator for Live Healthy Lynchburg

About Rachel: Spearheaded the “Breastfeeding Welcome” campaign and chaired the Lynchburg Community Breastfeeding Coalition; instrumental in helping Central Virginia Baptist Hospital reach “baby friendly” designation in 2015 (the third hospital in the state to do so). Author of two children’s books and involved in multiple community collaborations such as a coming children’s play about healthy eating. Vice Chair of Archetype Health; member of the Centra Continuing Medical Education Committee; member of the LCS Health Advisory Board; member of the Endstation Theatre Board.

WESLEY R. FUGATE AGE: 35 OCCUPATION: Vice President and

Chief of Staff, Secretary of the Board of Trustees at Randolph College

About Wesley: Chair of the Legislative Affairs Committee for the Lynchburg Regional Chamber of Commerce; Vice Chair of Beacon of Hope; board member for Endstation Theatre Company; fraternity advisor to the Phi Kappa Tau chapter at Lynchburg College; named LC’s 2014 Outstanding Advisor.

Motivation comes from … others; I like to see them succeed and know that I am making a difference.

Our business community is unique because… it is ever evolving. When I moved to Lynchburg four years ago, the city was a very different place. The city now has an

Motivation comes from. . . gratitude; I am so fortunate—I have to pay it forward.

Professionally, I am most proud of. . . the entire team behind Live Healthy Lynchburg.

My community involvement is . . . essential to balance out the one-on-one work I do as a physician because I see too many unhealthy children and parents who can’t change the systems or the policies that create their environments. We have to address the big picture.

In her words: “I’d like Lynchburg to focus more on walkability. I wrote Lynchburg Legs in 2012 to inspire kids and families to walk downtown. Now teachers are using it to plan field trips! Plenty of people can’t, or won’t, make time to ‘exercise,’ but with good policies (and sidewalks), we can change the environment to make it more appealing to walk as part of their everyday behavior.”

entrepreneurial spirit that is driving a number of new small businesses to emerge that not only make this community richer for opportunity, but also give us the unique charm that thriving cities require to be successful.

Something not commonly known about me is. . . I am a first-generation college student. My passion for higher education was instilled in me by my two wonderful parents who dreamed of opportunities for me that were unavailable to them. That is why I am particularly passionate about ensuring that every student in Lynchburg has the opportunity to pursue a post-secondary education regardless of their background.

In his words: “I want Lynchburg to be described as thriving—to be a place of opportunity for all. Specifically, I am passionate about ensuring that downtown redevelopment continues (and hopefully at an even greater pace), the arts scene is vibrant and that all of Lynchburg is lifted through the opportunity for all citizens to receive high quality education from cradle to grave, regardless of their backgrounds.”

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FEATURE

DUSTIN SLIGHTHAM AGE: 30 OCCUPATION: CEO/ Founder of 434 Marketing About Dustin:

Success comes from. . . being diligently focused on

Founded Carrot Creates in 2011 (recently rebranded as 434 Marketing); led the team that built Carrot Saver, an app designed to bring local deals to consumers; named the 2014 Technology Entrepreneur of the Year by Region 2000; selected to attend the Goldman Sachs 10k Small Business Program; serves as a mentor with the Young Entrepreneurs Academy; board member with the Academy of Fine Arts.

your purpose, vision and motivations.

My role models are. . .Dr. John George and

seen as an opportunity.

Professor Robert Mateer—men focused on God, yet both had long standing business careers and profound impacts on the world.

In his words: “I’m involved with the Young

Over the next 5 years, I hope to. . . hire 50 new team members, maintain a strong balance between family and work and start a nonprofit.

Failure is. . .used to shape you and should always be

Entrepreneurs Academy because my father instilled a focus on business models, Return on Investment and dreaming big—all from a young age.”

AREVA Congratulates

Elizabeth Narehood

Region 2000 Business and Economic Development Alliance

Lynchburg Business Magazine’s Top Twenty Under Forty Winner Your thoughtfulness, vision, and leadership have driven technology and growth in the Region 2000 Business and Economic Development Alliance. Congratulations on this honorable and well-deserved achievement!

us.areva.com AREVA Inc. ©©2015 2015 AREVA Inc.All AllRights RightsReserved. Reserved.

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FEATURE

DERRICK BROWN Success comes from. . . discovering and accepting

AGE: 28 OCCUPATION: CEO/Co-Founder of IRON Lives INC.; Assistant Principal of Amherst Middle School

your purpose in life, hard work, making smart choices that align with that purpose and surrounding yourself with quality individuals who support you and your vision.

Our business community is unique because . . .

About Derrick: Recognized as a Profound Educator for the past 4 years in a row; presented an Amherst County School Board Recognition Award; IRON Lives, a nonprofit focused on helping our youth develop character and leadership skills, was named one of the state’s top programs by Virginia Living magazine in 2014 and completed several community service projects in collaboration with a number of local nonprofits.

Motivation comes from. . . the thousands of youths who don’t have anyone to help them reach their full potential.

we support each other. Where other business communities focus on the individual, Lynchburg businesses love to support each other, share ideas and collaborate.

In his words: “I truly believe that a strong character is essential for students to experience success after graduation. There are countless examples of ‘successful’ entrepreneurs, politicians, athletes, businessmen/women and leaders who lost it all because their character failed to help them make the correct choice when it mattered the most. Students also need to be able to think critically, creatively and be able to effectively collaborate with others.”

Delta Star is the quality manufacturer of power transformers and the premier manufacturer of mobile transformers and mobile substations in North America. Each transformer is handmade by craftsmen who understand that quality is what makes Delta Star the choice for power companies around the world.

3550 MAYFLOWER DRIVE | LYNCHBURG, VA 24501 | 1-800-368-3017 Delta Star, Inc. would like to congratulate Zach Martin on being chosen as one of Lynchburg Business magazine’s Top 20 Under 40! OCTOBER/NOVEMBER 2015

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FEATURE

EMILY HEADY AGE: 38 OCCUPATION: Vice-Provost

for Undergraduate Education, Liberty University

DARYL CALFEE AGE: 35 OCCUPATION: Director of Marketing & Creative Services at Moore & Giles

About Emily: First female Vice-Provost for Undergraduate Education at Liberty University; spearheaded the acquisition of more than $20 million in grant funding for the establishment of the College of Osteopathic Medicine; founding Dean of the College of General Studies at LU; founding Director of the Campus Writing Program; led multiple accreditation efforts. Volunteers at Lynchburg First Church of the Nazarene and with the Lynchburg Public Library.

Failure is. . . what happens when we don’t steward our

Recently an Adjunct Professor at Liberty University and Lynchburg College in Art & Journalism; active in revitalization efforts in downtown Lynchburg and historic districts. Previous board member of Young Professionals of Central Virginia and Riverviews Artspace. Currently focusing volunteer efforts with Sports Outreach International to develop sustainable entrepreneur programs in Eastern Africa.

resources well; we only have so much time, energy and talent. We have to use it to the best.

Success comes from. . .

Inspiration comes from. . . outside the self. The word “inspire” literally means “to breathe in.” You can’t breathe in unless there’s air around you—and we find that air everywhere, in other people’s words, in careful analysis of circumstances— even in nature or music or other places like that.

Professionally, I am most proud of. . . the founding of the College of General Studies. It was a lot of work—we had to rethink personnel, budgets, policies, procedures, etc. But it was worth it because it allowed us to put into place an educational model that coheres to and furthers the University mission. Rarely have I done any more meaningful work, or any work that will have a greater effect.

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About Daryl:

doing good work. Stop talking, start working… you will figure it out along the way.

Failure is. . . tuition. Everyone pays it. The question is: will you learn from it?

In her words: “Liberty has grown rapidly, and its presence in the community

My community involvement is. . .

is impossible to ignore. Economically, the University has been a real boon to Lynchburg. And the University has benefited greatly from the fantastic environment in Lynchburg—the urban renewal, the beautiful scenery, the ever-present history, etc. I’d like to see both the greater Lynchburg area and Liberty work more deliberately to further cultural events and activities in the town in ways that use and appreciate these resources. Some of the great University towns I’ve seen—Charlottesville, Va.; Bloomington, Ind.; Athens, Ga.—have a great synergy between town and gown. The University, along with LC, Randolph, Sweet Briar and the other institutions of higher learning in the area, has intellectual and cultural resources to bring excellent lectures, music, art and sports to the masses. The ability to do this in a town like Lynchburg, with its natural beauty, amazing historical depth and well-established local culture, is a real privilege and opportunity—but not one I’m sure we’re always working well together to explore.”

diverse; previously, I have worked on several local boards, and my family and I have renovated a couple of properties that were problems in the community. Now, I am volunteering full-time to build a new program for Sports Outreach Institute— Sustainable Entrepreneur Education and Development (S.E.E.D.)—focused in Uganda and Kenya.

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FEATURE

CHRIS DEVLIN

Over the next 5 years, I hope to accomplish. . . successfully stewarding two beautiful little girls with Johanna [his wife] while dreaming together. Meanwhile, building and rebuilding the business of leather bags, old real estate and lives in our community and internationally.

Motivation comes from. . . coffee—and the want to create something beautiful—often from simple ideas or old buildings.

In his words: “I hope to see a sustainable and thriving downtown, that is budding with successful startups. . .I also hope to see Ward III (Mid-town) really come to life in the same way. Let’s encourage new thought and creativity in our community—arts, design and tech— and not just say it, but really work intentionally as a community to create and incubate tax and physical environments where these kinds of minds and businesses thrive. Then, work to export those intellectual products. Lastly, we must address the issues of fooddeserts and promote easy access to healthy foods for our families in lower income areas.”

AGE: 30 OCCUPATION: CEO/Founder of Selective Wealth Management

About Chris: Worked previously as a nuclear engineer for AREVA; a former Executive pastor of Gospel Community Church, where he was instrumental in helping the church to give away over half a million dollars to charity efforts both here and abroad; a mentor to young men in downtown Lynchburg and a volunteer with the Farr Foundation.

Failure is. . . lacking the courage to try again. Professionally, I am most proud of. . .

having the courage to quit my job

as a Nuclear Engineer and start my own business.

My community involvement is. . . extensive because I believe there is great joy in helping others.

Motivation comes from. . . a long-term vision to build a school; I’d like to establish a university that trains entrepreneurs in third world countries.

In his words: “I really enjoyed working at Areva. It was a sensational company and the work was challenging and interesting. I think the main reason I took that leap of faith [to start Selective Wealth Management] was that I was very passionate about investing and had a desire to accomplish something great. I really wanted to be able to dream big and help others around the world. It seemed that building my own company would open up opportunities that wouldn’t exist otherwise. Since launching the firm, I’ve also become really passionate about helping others accomplish their dreams. I think if we invest well over long periods of time it will really enable a lot of people to be able to pursue their own dreams—which excites me.”

&

PETTY LIVINGSTON DAWSON RICHARDS

INDIVIDUAL & CORPORATE COUNSEL

(434) 846-2768 | WWW.PLDRLAW.COM 725 CHURCH STREET, SUITE 1200

The law firm of Petty, Livingston, Dawson, & Richards congratulates its newest principal, Chad A. Mooney, on being selected as one of Lynchburg Business magazine’s Top 20 Under 40! Since graduating from West Virginia University College of Law in 2005, Chad Mooney has engaged in a broad litigation practice. His areas of practice include commercial and civil litigation, insurance defense, accident and personal injury, creditor’s rights and collection, and criminal defense. He has represented clients in trial courts across Virginia, the Supreme Court of Virginia, the United States District and Bankruptcy Courts for the Eastern and Western Districts of Virginia and the Fourth Circuit Court of Appeals.

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FEATURE

ZACH MARTIN Motivation comes from. . . the desire to see every

AGE: 27 OCCUPATION: Director of Corporate Sales for Delta Star Inc.

About Zach: Instrumental in raising sales at Delta Star by 57.50% over the past year, helping the company see new job creation and the recent acquisition of a manufacturing plant in Canada. Currently serving as the elected chairman of the Lynchburg Republican Party, which has seen membership and fundraising triple under his leadership. Has served as a volunteer fire fighter and volunteered with Lynchburg Grows, Lynchburg’s Daily Bread and Goodwill.

Success comes from. . . having integrity, a strong work ethic, a resilient persistence to achieve and a willingness to take risks.

project, organization or community become better and more successful; I also seek to empower and enable the people around me to reach their full potential.

My community involvement is . . . my way of giving back because I hope to continue to do my part in helping to ensure that the Lynchburg area remains a great place to live, work and play.

In his words: “I am motivated to stay politically involved for the same reason I believe more young people should become politically active. The unbelievable and diverse talents of my generation will be worthless if the political and economic climate falls to ruin or the freedoms we enjoy today are limited. Without my generation’s political involvement, it is inevitable that America will not provide the same remarkable opportunities as it has in the past.”

MICHAEL SLOAN AGE: 38 OCCUPATION: Founding Partner at Overstreet Sloan, PLLC

About Michael: Established a law firm in 2011 that has grown to occupy multiple office locations and represent clients throughout central Virginia; board member and former president of Lynchburg Bar Association; member of the Lynchburg Circuit Court Civil Docket Advisory Committee; served as the 24th Judicial Circuit Representative for the Young Lawyer’s Conference to the Virginia State Bar; served as a board member of the Virginia Tobacco Settlement Foundation; helped found the Boys and Girls Club of Greater Lynchburg and served as board President for three years, earning recognition as the top board in Virginia with a budget under $1,000,000; coach for local youth sports teams in Forest and Lynchburg; board member of First Presbyterian Weekday School.

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Motivation comes from. . .realizing that my sons look to my wife and I to learn what it means to be a friend, parent, volunteer and professional.

Professionally, I am most proud of. . . creating a law firm that embraces teamwork, seeks innovation, supports local causes and celebrates the successes of our clients and the firm.

My community involvement is. . . rewarding because I enjoy working with others to solve problems, identify opportunities and positively impact those who live and work here.

In his words: “You cannot complain about the direction of youth if you choose not to engage the next generation. What may inspire one child to greatness may not inspire another. Youth-centric organizations, like the Boys & Girls Club of Greater Lynchburg, provide academic, athletic and artistic outlets that can and do inspire children to make their lives, and the lives of others, better. Take time from your profession and your family to share what others have shared with you.”


FEATURE

SARAH QUARANTOTTO AGE: 32 OCCUPATION: Executive Director of Miriam’s House

About Sarah:

Failure is. . . ignoring the plight of the less fortunate

The youngest Executive Director of Miriam’s House since taking the position in 2012; has led the nonprofit to triple its service capacity; recognized for her efforts by the Virginia Coalition to End Homelessness in 2013. Currently serving as Vice-Chair of the Board of the Lynchburg Continuum of Care; a founding board member of the Lynchburg Area Food Council.

around us.

My role model is . . . my mom, who singlehandedly raised and supported four children while working full-time and pursuing higher education.

Motivation comes from. . . recognizing that the work of one person can make a powerful difference especially when surrounded by thoughtful and smart individuals.

Professionally, I am most proud of. . . implementing our “Community First” program, which allows us to provide the upfront financial assistance needed for homeless families to get on their feet while they work alongside a Miriam’s House case manager to ensure their long term housing stability. This allows us to serve exponentially more homeless women and families.

In her words: “In Lynchburg, I hope to see everyone contributing to end homelessness within their circle of influence: whether that be employers taking a chance and hiring a homeless person with no recent employment history or community groups helping homeless families move from shelters into their own housing. Everyone can make a difference in ending homelessness.”

F. Read Hopkins Pediatric Associates, Inc. would like to

Congratulate Rachel Gagen Robert A. Sullivan, Jr., MD • Stephanie K. Sullivan, MD R. Skyler McCurley, MD • Justin A. Mutch, MD Rachel E. Gagen, MD • Katherine V. Nichols, MD Laura M. Brooks, MD • Denise L. Fenton, MD Amy S. Morse, CPNP

434-237-8886 • www.hopkinspediatrics.com 1212 McConville Road, Lynchburg, VA 24502

on her selection as one of Lynchburg Business Magazine’s top

“Caring For Central Virginia’s Children”

OCTOBER/NOVEMBER 2015

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FEATURE

ELIZABETH NAREHOOD AGE: 34 OCCUPATION: Vice President

of Technology for Region 2000 Business and Economic Development Alliance

About Elizabeth: Serves as executive staff to the Future Focus Foundation, a nonprofit that has served over 1,800 local youth and focuses on preparing them for future STEM careers with engagement for K-12 students and beyond; serves as executive staff for the Region 2000 Technology Council; instrumental in the creation of the XLR8-Lynchburg Regional Governor’s STEM Academy.

Success comes from. . . listening and then listening some more!

Failure is. . . the quickest way to learn something new. Inspiration comes from. . . being open-minded and taking time to reflect; I find that to be the intersection of creativity and growth.

Something not commonly known about me is . . . I am an avid equestrian, which instilled confidence, work ethic and dedication at a young age.

In her words: “Workforce continues to be cited as the number one priority for business establishment and expansion. This makes developing a skilled talent pool a critical component to a competitive economic strategy. The Future Focus Foundation is targeted at growing a regional workforce in the most high-skilled, high-wage sectors.”

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NATE MAHANES AGE: 39 OCCUPATION: Vocational Placement Counselor

/ Workforce Development Specialist with the Virginia Dept. for Aging and Rehabilitative Services

About Nate: Works daily to connect disabled individuals with viable career opportunities in Region 2000; a 2015 recipient of the Virginia Community College System Chancellor’s Award for Excellence in Workforce Development and recently elected to the Board of Directors for the Lynchburg Regional Chapter of the Society for Human Resource Managers.

Success comes from. . . being resourceful, resolved, flexible, creative and, most of all, accountable!

Inspiration comes from. . . the incredible people I work with and the humility I feel from seeing daily examples of individuals overcoming significant barriers and accomplishing great things through sheer will and determination.

My community involvement is. . . very important to me because this is where I was born and raised, and I want to see Lynchburg (and the surrounding communities) continue to be the great place that I have always known it to be.

In his words: “I’m passionate about the work that I do because of two words: positive impacts. I have the great fortune of creating true ‘win-win-win’ situations by connecting quality workers (who might otherwise be disadvantaged) to quality employers (who are looking for the skills they possess) and that connection ultimately leads to increased productivity for our local and regional businesses and contributes to a stronger and more efficient local and regional economy.”


FEATURE 1327401_15954

KACEY M. CRABBE AGE: 36 OCCUPATION: Principal of P.L. Dunbar Middle School for Innovation

About Kacey: Has led the school to improved SOL scores in English, math, science and social studies. She is the youngest and first female principal in the history of the school.

3.75 x 9.75 4c

Recognizing extraordinary efforts

Failure is. . . lack of effort. Over the next 5 years, I hope to accomplish. . . full accreditation for Dunbar Middle School and being an efficient instructional leader.

Professionally, I am most proud of. . . building relationships with my students, their families and our staff.

My community involvement is… vital to our students’ success because it takes a village!

In her words: “Students need to have a work ethic and a vision for their future in order to be equipped for success upon graduation. Therefore, my goal for my students is to ensure that they have the latter. That involves empowering and supporting them to foster a vision and have an expectation of excellence. Most of my students don’t believe that they are excellent and can achieve excellence. In order to ensure their success, we have to be sure that they have healthy, productive, safe environments to exist in when they are not at school. We are losing them to other nefarious activities and individuals because there is not enough to do [that they can afford]. Community and businesses are vital in completing this circle of success. They can have programs that support Dunbar and division wide initiatives as well as education in general.”

Achieving great things in any community takes courage, vision, and tremendous effort. What each of us does can make life better for everyone.

Luke Towles, recognized by Lynchburg Business Magazine as Top 20 Under 40, thank you for creating a lasting legacy of success. Luke Towles – Business Banking Manager 700 Main Street, 2nd Floor 434-544-2561 wellsfargo.com

© 2015 Wells Fargo Bank, N.A. All rights reserved. Member FDIC. (1327401_15954)

OCTOBER/NOVEMBER 2015

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FEATURE

ANNA BENTSON AGE: 33 OCCUPATION: Assistant Director of Economic Development for the City of Lynchburg

About Anna:

Success comes from. . .dreaming big and

Former director of Lynch’s Landing and marketing director at Poplar Forest; spearheaded the INOV8 program of 2014, which created a gateway to financial capital for downtown entrepreneurs; board member of the Virginia Downtown Development Association and served on the Young Professionals Advisory Board for the International Economic Development Council.

developing an actionable plan to get there—with lots of awesome partners along the way.

Inspiration comes from. . .my family. I come from a long line of teachers, artists and community leaders who work to leave the world better than they found it.

My role model is. . .Anne Frank. She said, “Despite everything, I

In her words: “Lynchburg is at the beginning of its renaissance, so it’s an exciting time to be alive and working here. The downtown area has seen massive growth since I moved here in 2007; our talent base has grown and diversified, and we have finished big projects like the downtown Bluffwalk. There are many other exciting projects on the horizon that will move our City forward and make it an even better place to call home.”

believe that people are really good at heart.”

BECKHAM A. STANLEY AGE: 24 OCCUPATION: Insurance Agent at Holdren, Eubank & Stanley

About Beckham: Youngest currently serving elected official in the state of Virginia (elected to Bedford’s Town Council at age 23 earlier in 2015); Vice-Chairman, Bower Center for the Arts; Membership Chair, Rotary Club of Bedford; member of the Liberty Masonic Lodge No. 95, Bedford Elks Lodge, Bedford Moose Lodge and the Republican Party of Bedford.

Failure is. . . inevitable, a powerful motivator and something that keeps me (very) humble.

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Motivation comes from. . . helping people, businesses and local governments become more efficient, long-term thinking and results-oriented.

Professionally, I am most proud of. . . the day I started work in the business my grandfather started. It was the Monday following graduation at Hampden-Sydney.

The Lynchburg business community is unique because . . .it is full of talented young professionals who put community over personal gain— and that’s a trait we should all strive for.

In his words: “Bedford and Central Virginia both have a lot of potential that we’re not harnessing. Alongside effective economic development, our region is hosting a growing, vibrant food and arts culture and is becoming an attractive place for younger generations to call home. Those two things—bringing jobs in and enhancing our culture—are what will bring us forward as a region.”


FEATURE

Moore & Giles would like to congratulate

DARYL CALFEE on his selection as one of Lynchburg Business Magazine’s top 20 under 40.

Congratulations Twenty Under Forty Winner

ELIZABETH NAREHOOD Region 2000 Business and Economic Development Alliance Vice-President of Technology Your vision, integrity and passion for impacting the technology assets of our region have earned you this recognition. We cannot think of anyone more appropriate to receive this honor. We are thrilled and blessed to have you on our team. You are second to none! -The Region 2000 Alliance team Region 2000 Business and Economic Development Alliance | 828 Main Street, Lynchburg, Virginia 24504 | 434.847.1447 | region2000.org OCTOBER/NOVEMBER 2015

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FEATURE

RENE BALLOWE AGE: 29

OCCUPATION: Operations Coordinator at Genworth

About Rene: Instrumental in re-establishing Genworth’s Early Career Forum, which trains employees in workplace skills and offers leadership development opportunities; holds licenses/ designations in: Insurance licenses in Life, Health and Annuity; Series 6; MBA, ALMI, ACS; volunteers with Harmony Day Support, Adult Care Center, Horizon, the Alzheimer Association and the United Way of Central Virginia; named Genworth’s Lynchburg 2013 Volunteer of the Year.

Motivation comes from. . . within. You make things happen. You set clear goals. You take the necessary steps to complete those goals. You hold yourself accountable. You can’t depend on anyone else to do these things for you.

My community involvement is. . . very important to me because I am able to give, therefore I do. Like my company’s motto says, you have to “Reach Out, Give Back and Have Fun!”

Professionally, my role model is. . . the very first boss I had—Luther Lockwood. He told me once to always surround yourself with people who are more knowledgeable than you because then you will always be learning from them and growing.

Personally, my role models are. . .my parents for very different reasons. My mom is the compassionate and caring one who always puts others before herself while still maintaining a very strong career. I strive to be more selfless like her. My father is the hard hitter who knows when to be strong but also knows when to have a good time. I strive to embody his work ethic.

In her words: “I am a ‘non-partisan’ volunteer, meaning I give my time and money to just about any organization that needs help. . . because I want to ensure that each organization is supported. Right now, the volunteer network in Lynchburg is really grass roots. You hear about events through work or through friends, but I hope in the next few years, Lynchburg and the volunteer organizations really start to take advantage of applications that enable users to sign up for events with ease. This is vital to our community if we want to engage more people.”

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LUDOVIC LEMAITRE AGE: 26 OCCUPATION: Sustainability Coordinator at Randolph College and Property Manager for Norma Stein, Inc.

About Ludovic: Instrumental in launching more than a dozen sustainability-related initiatives and helping Randolph College to purchase 100% renewable electricity and be recently recognized among Princeton Review’s “Top 50 Green Schools.” Nominated as a 2013 Emerging Leader Fellow by the National Wildfire Foundation and awarded the 2010 Udall scholarship (equivalent to a Fulbright scholarship for environmental work). An original board member for the Lynchburg Area Food Council from 2012 to 2014 and currently serving as president of the Friends of the Lynchburg Community Market.

Success comes from… planning, taking initiative and perseverance. Helping others without expecting anything in return is also a factor to success. Some of the people you helped will return you the favor at some point in time. It is a form of social investment.

The Lynchburg business community is unique because… it is the largest metropolitan area in Virginia without an interstate highway. Consequently, Lynchburg has often been skipped by major corporations that factor connectivity to interstate highways in their location search formula. This is a unique scenario that has allowed many smaller businesses to open and thrive. Add to the fact that Lynchburg is becoming a nonconventional college town, and you have a unique microcosm for business activity.


FEATURE

My role model is. . .Tom Burford. Tom is a well-known community member whose family has been in this area for 7 generations. He is nicknamed “Professor Apple” for his wealth of knowledge and his never-ending energy to teach about fruit tree cultivation, and, more specifically, the apple tree. Tom’s career has been diverse and successful, and his personality is generous, fun loving, supportive, ever curious, with a touch of wittiness. I think that what I admire most about him is that he never lost his young spirit. And best of all, he is at the Community Market every Saturday!

Professionally, I am most proud of. . . having contributed to the rise of Randolph College in national rankings over the past couple of years, more specifically in the field of sustainability. I have a vested interest in this 125-year old institution that not only continues to contribute greatly to the Lynchburg community but also forms wellrounded students who successfully engage in every aspect of society.

Failure is. . .inevitable and is often not as big of a deal as it first seems. Stand back up, take a deep breath and keep on walking. It will get more exciting from there!

In his words: “The Lynchburg Area Food Council continues to make great strides in improving healthy food access to every member of the Lynchburg community. From helping the Community Market to get SNAP/EBT to partnering with the GLTC to improve food access, the Council is a great organization to volunteer for.”

CHAD A. MOONEY AGE: 36 OCCUPATION: Attorney at Petty,

Livingston, Dawson & Richards, PC

About Chad: Specializes in commercial litigation and creditor’s rights; has handled several appeals both in the Fourth Circuit Court of Appeals and the Supreme Court of Virginia; the former President of Lynchburg Morning Rotary Club; served with the Pro Bono Task force of the Virginia Legal Aid Society from 2010 to 2014; currently coaching with Amherst County Youth Soccer.

Failure. . . need not be defined; the better question is why a person fails. The answer to the cause helps eliminate or reduce failure.

Inspiration comes from. . . my wife and children; my wife, Amber Mooney, another local attorney, challenges and enables me to have the best career possible. Without her support, success would be impossible.

The Lynchburg business community is unique because . . . the mixture of seasoned business leaders with talented young professionals creates a recipe for success.

Professionally, I am most proud of. . . simply put, representing clients both large and small. Specifically, despite my relatively young age, I have handled several appeals in both the Fourth Circuit Court of Appeals and the Supreme Court of Virginia.

In his words: “The number one legal mistake is a business owner’s decision not to seek legal advice. The law has become so complicated that too little investment for a consultation can often result in a costly mistake. [So] I help offer free legal seminars to help the business community understand hot topics. For instance, we offered a free seminar with the Lynchburg Regional Chamber of Business in September titled ‘Defamation in the Digital Age.’ It explored the inherent risks of social media and posting of information on third party sites.”

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We build and strengthen communities A girl is removed from her home to protect her from abuse. A young man, already in his third placement, struggles to find a forever family. A beloved sister with a developmental disability hopes to be part of a community. These are the people that we serve every day—individuals young and old in search of family, meaning, and belonging.

We are DePaul Community Resources, proud to serve central and western Virginia for 38 years and counting. Visit us at www.depaulcr.org to learn more about our mission, our programs, and how you can help make a difference in the life of someone who needs you.

depaulcr.org


FEATURE

THE EVENT Over 120 individuals gathered to support this year’s Top 20 Under 40 honorees on September 10, 2015. Many thanks to Lynchburg’s Office of Economic Development and the Young Professionals of Central Virginia for partnering with us in this initiative and to Phase 2 our location sponsor.

“Congrats on a great inaugural event; it was well done!” —Megan Lucas, CEO of Region 2000 (Pictured above on left with Lynchburg Business’ Publisher Randy Thompson and Editor Jennifer Redmond)

“GREAT job! You all put on a classy program! Thank you for allowing me to be a part of it.” —Derrick Brown (Pictured to right with Publisher Randy Thompson)

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YOUNG PROFESSIONALS

YOUNG PROFESSIONALS: WHAT THEY BRING TO THE TABLE & HOW TO MAXIMIZE THEIR STRENGTHS BY AS HL EY AD D I NGTON

C

omposing more and more of the work force, “millennials,” as they’ve come to be called, are certainly here to stay as are their unique approaches to business. Here we break down the strengths of these approaches and look at ways to harness the young professional viewpoint in a way that benefits both employer and employee.

MILLENNIAL FACTS Categorized as those born between 1980 and the mid-2000s, millennials make up one third of the working population in the United States according to a study by the Pew Research Center. They are cited in the same study to surpass the number of baby boomers currently in the workforce. With some estimates proposing that more than 50 million baby boomers will retire over the next 20 years, it is critical that young professionals are introduced into the workforce and granted opportunities to grow and develop. As the future of the workforce, millennial employees need leadership training.

DEEP KNOWLEDGE.

We’ve built a great company in Lynchburg from the ground up. (well, in some cases, a little deeper than that) Creating wireless solutions in mining, security, utilities and beyond.

Innovative Wireless Technologies, Inc. 1100 Main Street, Lynchburg, Virginia

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iwtwireless.com


YOUNG PROFESSIONALS

POTENTIAL WEAKNESSES IN YOUNG PROFESSIONALS Being a generation mostly sheltered from the difficulties experienced by the baby boomers, and coupled with the exponential rise of technological advantages, millennials have been labeled as “lazy,” “entitled” and “narcissistic”; experts point to the idea of “self-entitlement” as one of the most damaging.

“Millennials have been named the most pampered generation with expectations that the world owes them a spot in the market,” said Dr. Kendrick Brunson, of Liberty University’s School of Business. “Being pampered can lead to a false sense of security. This mindset will require being awakened from the unrealistic set of expectations to the realities of survival in the marketplace.” Due to this image, the Pew Research Center found that millennials avoid being associated with their own generation. A recent student found that only 40% identify with their generation’s moniker. This self-awareness indicates a realization of the weaknesses that millennials may possess. Young professionals are also changing up the way Human Resource departments have traditionally functioned. With such varying outlooks, mentalities and work skills, companies have to alter the hiring process for young professionals who are a more mobile workforce. The New York Times discusses how millennials generally long for meaning in their careers that allows them to make a difference in other’s lives rather than gaining success based on materialistic items. This perception of millennials reverses the popular misconception that they are a generation focused more on themselves rather than others. In addition, millennials crave guaranteed job advancement, growth and varying benefits, which differs from previous generations. Older workers tend to have devout loyalties to their companies and are satisfied with being in a stable position year after year. The gap in job satisfaction is keeping HR departments on their toes in trying to find a happy medium for both types of workers.

POTENTIAL STRENGTHS IN YOUNG PROFESSIONALS While millennials all but grew up with smart phones in their hands, there is a plus side to their technology-centric approach to life because they have a unique advantage as online business evolves. Gone are the days of brick-andmortar stores represented by a mere slot in a business directory; in today’s marketplace, an online presence is essential to success. And maintaining positive customer relations involves balancing myriad apps, sites and data sets. Millennials all but inherently understand this as they are the ones largely driving the demand; as technology constantly evolved throughout their own growing up years, young professionals are adept at learning new information on the go and quickly internalizing it. “In my experience, millennial professionals bring relevant communication skills. Good, solid communication is the backbone of every business or organization. As technology has evolved, businesses have changed from the traditional concrete brick and mortar ‘buildings’ and have transformed to being an international and online presence,” said the Director of Communications of Liberty Counsel, Charla Bansley. “With this change, it has morphed the communication paradigm. Young professionals bring a fresh perspective and real life experience of today’s communication models. Understanding those changes is critical to survival in today’s marketplace.”

Local, Independent Fee-Only Investment Management and Financial Planning 

Retirement Planning 

Wealth Transfer Investment Review 434-455-2795

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Sarah Burnett

John Hall

OCTOBER/NOVEMBER 2015

Anne Scruggs

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YOUNG PROFESSIONALS

BURGEONING NUMBERS— Millennials, categorized as those born between 1980 and the mid2000s, currently form one third of the U.S. working population according to a study by the Pew Research Center.

Young professionals are also aiming for goals and standards unmatched by previous generations of workers. According to the Huffington Post’s “5 Valuable Gifts of the Millennial Workforce,” young professionals have a series of attributes that make them a vital asset to the marketplace. Young professionals have a thirst for challenges, a hunger to grow, a desire to create a profound impact, a keen sense of adaptability and are on a constant quest for mentors and honest feedback that is related to their work. Young professionals simply desire more than a 9 to 5 job; they are looking for a profession that can turn into a meaningful passion.

An additional strength of young professionals is their regard for collaboration. “The younger generation is one of the most social generations observed in my lifetime. The old barriers are less apparent. This could lead to a better-connected generation of professionals who empathize with the needs, wants and desires of their fellow generational members,” Brunson said. Recent trends on social media show a rise in this philosophy as represented by trending hashtags such as “#CommunityOverCompetition” and “#RisingTide,” representing the idea that if the tide rises, all boats are raised together towards success.

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LOOKING AHEAD Young professionals have grown up in a time of economic instability, in large part due to the recession of 2008. With this background, young professionals are known for having a game plan and adapting as needed. Young professionals are continually maximizing their social channels to network and find opportunities. “I took advantage of starting my business when I saw a need in the Lynchburg area for affordable quality furniture for college students,” explained Jacob Strong, owner of Strongwood Designs. “Since opening my business, I have utilized my local channels, online SEO and social networks to spread my name and improve my company’s products.” Millennials have ready access to information at their fingertips, enabling them to react and solve problems quicker than previous generations, who lacked the advantage of 21st-century technology. Millennials have proven to be the new pioneers of the digital age. With an ever-changing economy, workers are figuring out the smartest and most innovative ways to get ahead. Many know that the internet is an asset to aid and define them. Society’s young professionals are constantly breaking ground with new media interfaces, social campaigns and technology. The modern workforce will continue to be shaped as young professionals grow in numbers and develop into the leaders of tomorrow.


HUMAN RESOURCES

COACHING & MENTORING PROGRAMS: Dying, Dead or Playing Hide-n-Seek? BY D R. DAVE C AL LAND

W

hen I have moments of nostalgia, I am often taken back to late summer nights playing hide-nseek with my friends. We would play late into the night, and the darker it got, the more often we heard the familiar call from the one chosen as the seeker: “olly, olly, oxen free!” This phrase was the “all clear” call for those still in hiding to return to home base without any penalty— indicating it was safe to come out of hiding. THE REALITY OF THE “GAP” This brief reminiscence mirrors a minor phenomenon reported over the last 24 months among seven mid-sized and growing organizations who participated in an open-ended dialogue on current trends in coaching. The phenomenon reported is relative to the “gap” in available mentors and coaches. When pressed for more information, organizational leadership indicates that most, if not all, supervisory/managerial positions are occupied. Further data shows that internal training programs are functioning as designed. What then can cause gaps in available coaches and mentors within an organization? Is it possible that shifts in the organization’s culture have caused those “once so willing” to mentor others, to retreat? Could it be that senior leadership in the organizations reporting the “gap” have shifted focus from individual development programs to something new? These are all potentially good questions. However the information gathered from the participating mid-sized and growing organizations suggests something completely different: The essential component revealed in the information is that the grueling pace of business in these mid-sized organizations presents an allconsuming challenge demanding every aspect of human capital. WHAT DOES ORGANIZATIONAL LEADERSHIP SEE? Since 2008, these organizations have applied just about every popular realignment approach to include: re-engineering, right-sizing and downsizing. The impact of uncertainty and shifting structures on time available to invest in coaching and/or mentoring others was dramatic. Most reported that even with all of the stereotypical positions filled that normally perform developmental tasks,

the drop in active coaching/mentoring initiatives was in excess of 70 percent. When the senior leaders in these organizations began to recognize this trend, they spoke to those in line-leadership roles. The responses from the line-leadership was telling as they reported feeling like they were going, “zero-to-sixty while standing still,” and often felt like asking peers, “Pardon me, but have you seen my mind?” Line-leadership suggested that they clearly understood the importance of coaching and mentoring in the realm of employee development. However the ability to invest at this very personal level was outpaced by the torrent of daily tasks and operational responsibilities. They also indicated significant levels of feeling overwhelmed, exhausted or lacking a sense of real direction. WHERE DO WE GO FROM HERE? This question is critical and is exactly what the leaders were asking themselves as they all recognized the critical contributions and long-term operational gains garnered from active coaching and mentoring initiatives. I wish there were a fairy-tale ending to this story—unfortunately, that is not the case. Four of the seven organizations took intentional steps to build coaching and mentoring back into the weekly schedules of their line-leadership. They continue to report exceptionally positive feedback from employees involved in the coaching and mentoring programs. The other three organizations report they continue to struggle in finding a balance between the pace of business and the necessity to focus on deeper development programs. TAKE-AWAY FOR TODAY Clearly, coaching and mentoring programs are not dying or dead in organizations dedicated to developing human capital. However, the grueling pace of business may drive these programs internally into hiding. What we see are the results of the speed of today’s business demands on the ability of mid-size organizations to sustain these key people programs. Taking a lesson from the four organizations above: Approach the re-instatement, continuance or creation of these programs with the grit of intentionality! Deliberately create the expectation of development in your workforce. Strong leadership support for the deeper investment required of human capital in the practice of coaching and mentoring underpins a dynamic development culture within the organization. Dr. Calland is on the faculty of the Liberty University School of Business and serves as the Associate Dean, Undergraduate Programs. He teaches in the areas of human resources, executive coaching and general management. Calland has over 35 years of combined government and corporate human resource management experience.

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REAL ESTATE

NEARING THE END OF THE THIRD QUARTER…

ARE YOU READY TO GET IN THE GAME? BY DAN VOL L M ER

A

s I write this, football season officially kicks off in just over a week, which, to many of us, is the unofficial start of fall (and fortunately, Daylight Savings isn’t until November 1st, so we still have some time to enjoy those crisp evening walks). Imagine for a moment that the calendar is like a football game, and our real estate market is the home team. As of press time, we’re heading into the last few minutes of the 3rd quarter, so let’s take stock of the “game” thus far… Going in to halftime, we were looking pretty solid. Here are a couple of statistics to show where the market has been heading, so let’s take a look at new listings, sold listings and, most importantly, the number of net listings for the first six months of the year: New Listings

Sold Listings

Net Total

2010

2568

934

1634

2011

2429

881

1548

2012

2308

912

1396

2013

2422

1145

1277

2014

2466

1217

1249

2015

2571

1356

1215

Okay, so what does all this mean? If you look at the New Listings column, you can see that the number of homes being listed dropped off and then came back this year to just over the 2010 numbers. But in the Sold Listings column, you’ll notice that the number of homes selling has been steadily on the rise. Which means that every year for the past 6 years, the Net Total (new listings minus sold listings) has been gradually decreasing. This trend shows our market is balancing out after a glut of inventory in the 2009-2011 range. Okay, so how about coming out of halftime? Here’s how we look for the first two months of the 3rd quarter (July & August): New Listings

Sold Listings

Net Total

2010

837

269

568

2011

697

364

333

2012

760

402

358

2013

791

499

292

2014

835

448

387

2015

835

559

276

Take a look at that—a record-setting start to the 3rd quarter! (Okay, in the interest of accuracy, I’m not 100% certain that’s a record, but still…). Sold listings have more than doubled, and net new listings have been cut in half over the past 6 years! That must have been one heck of a halftime speech! 66

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So how about some stats on the “players” (market areas) for the 3rd quarter so far? Who’s leading in TDs, yardage gained and, most importantly, completions? Let’s take a look: Sold Listings

Average Sales Price

Days on Market

Amherst County

49 homes

$191,853

116

Appomattox County

34 homes

$158,694

140

Bedford County

156 homes

$238,452

100

Campbell County

102 homes

$170,534

85

Lynchburg City

181 homes

$151,926

98

It appears that our team is working well together, with all players contributing strong stats in the 3rd quarter. Lynchburg leads in closed homes, Bedford County brings the highest average sales price and Campbell shows the fewest days on market. So where do we need improvement? What areas of our game do we need to work on? Let’s look at another important statistic—average sales price: Ok, on the positive side, the January-June July & August average sales prices seem to 2010 $172,586 $184,617 always be higher in July and 2011 $152,643 $179,682 August. However, as you can 2012 $163,879 $181,225 see, the overall average sales 2013 $172,662 $183,988 price going back 6 years is 2014 $171,234 $182,848 relatively unchanged. In the 2015 $172,878 $180,759 January-June column you can see a fluctuation, followed by a leveling out. In the July & August column, this year’s average is roughly 2% off of the 2010 average and barely a 1% dip from last year. These numbers aren’t any indication of any impending crisis. In fact, it’s not that surprising at all. As I’ve explained in many conversations, and made reference to earlier, during the depths of the recession we continued to see more and more homes come on the market. This led to a serious imbalance in inventory—lots of properties for sale, but fewer and fewer buyers to buy them. For awhile, only 3 out of every 10 homes listed actually sold. Over the past 3 years, as we have gradually worked our way out of the recession, we have simultaneously been selling off our excess inventory. This trend is evident in the first several sets of numbers. Fewer listings combined with more sales equals a decrease in inventory (fewer net new listings). Our inventory has moved steadily toward a balanced market, and once that balance is maintained, we will start to see prices rise again. Could be as soon as next year… So listen… if you’ve been sitting on the sidelines, waiting for the right opportunity to get in the game—now is your time! Grab your helmet and get in there—this game needs you! *All statistics from the Lynchburg MLS Dan Vollmer is an Associate Broker at Re/Max 1st Olympic and member of the Virginia Association of REALTORS Board of Directors. Find him at www.danvollmer.com.


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OCTOBER/NOVEMBER 2015

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BUSINESS PROFILE

U N D E R

BUSINESS T E N

Y E A R S

BENCHMARK PROTECH BY M EGAN L . HOUS E

W

ith technicians who have over 20 years of experience in the technical service industry, Benchmark ProTech strives to offer quality services with a “proactive” approach and to build lasting relationships with their clients.

“We want to be more than just a provider of service to our clients—we want to be their partner,” said Bruce Blankinship, technical services manager & senior IT consultant. Benchmark ProTech offers a variety of products and IT services including residential services, security, business productivity, backup and recovery, support, data destruction, and, what they call, “ProCare.”

“We’re the IT gurus, or technicians, for companies who are professionals, consultants for people who don’t have an internal IT department; but we’re also the experts who bring specialized skillsets and expertise to larger companies who actually have an IT staff,” Blankinship said. “We enhance and supplement the IT staff or departments that exist.” 72

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OCTOBER/NOVEMBER 2015

They work with companies of all sizes—from those with merely a couple computers to ones with more than a hundred. Their clientele is also diverse, including construction companies, steel companies, accounting firms, medical practices, nonprofits, such as the National D-Day Memorial, credit unions and many more. “Virtually anybody who has a computer system, or has network servers, or infrastructure needs, we do all that,” Blankinship said. Being partnered with industry-leading software, such as Microsoft, Dell, HP, Lenovo, Cisco, Dell SonicWall, Barracuda Networks, NetGear, Fujitsu, and more, Benchmark ProTech is equipped to keep systems current and prevent issues from arising. “We help businesses of all types keep their systems up and running,” Blankinship said. This approach includes keeping clients’ networks, servers, PCs and security up-to-date. Benchmark ProTech tries to minimize downtime for their clients by using preventative software. “We have proactive services where we install software on their servers and PCs, and we remotely monitor those,” Blankinship said. Being proactive additionally reduces the chance of viruses. The software they use is a higher quality than what you might find at a local office supply store, meaning it more adequately secures systems. “We use business-class products to try to ensure access to their systems remain up and secure,” Blankenship said. “We’re trying to make sure that companies, their infrastructure, their computer investments, are being properly updated, being managed and kept secure so they are able to run their business and not be hindered by some kind of computer related issues.” With the rise of hackers, protecting systems has becoming extremely important.


BUSINESS PROFILE “Security is a major part of that today, with the sophistication of viruses and the level of sophistication that exists within the world,” Blankinship said. “More people are out there constantly trying to hack people, to gain information.” He explained that the concept “I’m not a target because I’m such a small business” is essentially false. Even small businesses are at risk and targeted by hackers. “The reality is, everyone’s a target because the guys on the other side don’t know who you are, and they’re just trying to break through to find out what might be on the other side,” Blankinship said. Benchmark ProTech has made it their mission to prevent this from happening by providing proactive vulnerability scanning and patch management, multi-layered security plans, ongoing security audits, data security training, and malware, spam and virus protection. “What these virus writers are doing is they’re targeting the most commonly installed applications that exist on people’s computers,” Blankinship said. “Everybody has Adobe reader, and you don’t think about it being a source of vulnerability, but it is.” Virus writers target what most people have, such as Adobe software, Java and browsers like Mozilla and Safari. “ProCare service…does all the patch management and looking for vulnerabilities,” Blankinship said. ProCare includes a daily server safety check, and health check, real time server and network monitoring, patch management and vulnerability scanning for less than $2 a day. Or, as Blankinship points out, for “less than a cup of coffee.” Though headquartered in Lynchburg, with four local employees, they have other technicians spread throughout the country, including St. Louis, North Carolina and West Virginia. Occasionally, they go on site but the majority of their work is remote in nature. As Blankinship explains, “The software we utilize actually has that [remote capability] built in, so very quickly we can take control of a computer or server, and have the client demonstrate to us what’s going on.” Their parent company, Benchmark Systems, was founded in 1978. In 2001, they began to offer networking services to clients other than those who used their software, and in 2012, Benchmark ProTech began servicing clients independently from their parent company. “We’re servicing hundreds of servers,” Blankinship said. “And we’re always

AT A GLANCE Founded: Benchmark trying to expand; looking for Systems founded in 1978; substantial growth in the near Benchmark ProTech launched future—our goal is to continue separately in 2012. to provide that level of care and service to our clients and to grow the Location: 1112 Church St., Lynchburg, Va. business in the process.” They are cautious and methodical Number of Employees: of not growing too quickly however. 4 local; 6 statewide “We want slow, steady growth Signs of Growth: Clients both that will enable us to properly local and national; remote service our clients as we grow,” servicing capabilities Blankinship said. They offer a free consultation, and encourage businesses, large and small, to take advantage of their services. “Sometimes people get the idea that we work with larger clients only, which is a misconception; we actually do work with people with just a handful of computers, up to much larger systems,” Blankinship said. “We really want to help everybody that we can.” Blankinship explained that their care and dedication is what sets Benchmark ProTech apart from competitors. “We desire to be the best that we can be,” he said.

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73


MADE IN LYNCHBURG

HIGHLIGHTING LOCAL PRODUCTS AND MANUFACTURING THROUGHOUT THE REGION 2000 PARTNERSHIP

Nydree Flooring U.S. Made Products Since the early 2000s, Nydree has been at the forefront of American innovation in the flooring industry. Based out of Forest, Va., Nydree products have been installed in major commercial and public spaces throughout North America including the Aflac Headquarters in Columbus, Ga., and the Smithsonian American Flag Exhibit in Washington, D.C. Nydree combines their signature fully infused acrylic technology with the best manufacturing equipment and the highest-quality, environmentally friendly raw materials to create the world’s most sought after high-traffic and residential wood flooring products. For more information on their commercial brand, visit nydreeflooring.com, and for their residential line, Hardwoof Flooring, visit www.hardwoof.com.

Let Us Know! 74

LynchburgBusinessMag.com

Do you know of a product manufactured locally? Let us know at feedback@lynchburgmag.com

OCTOBER/NOVEMBER 2015

Pictured: Nydree Flooring installed Rift and Quartered White Oak flooring for Levi’s Stadium; here is the Edward J. DeBartolo, Sr. Hall of Fame located inside the 49ers Museum presented by Sony-49ers.com.


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Lynchburg Business Magazine October/November 2015  

Lynchburg Business magazine published by VistaGraphics, Inc. is mailed directly to all businesses within Region 2000. We recognize that the...