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Growing Your Business in 2018

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As companies continue to plan for 2018, business owners are determining their priorities for the New Year and how to be best positioned for growth. According to a recent survey, small-mid sized business optimism remains near its highest point in a decade as many business owners report plans to invest in their businesses and add jobs. In the survey, 33 percent of small business owners said they plan to increase capital spending over the next 12 months and 32 percent plan to hire employees in the year ahead. Here is some insight on overall market optimism and how business owners can look to grow.

Small business owners who are looking at growing their businesses in 2018 – whether that includes expanding to a new location or hiring more employees – and need access to capital have a range of options to consider. Those options include everything from conventional business term loans offered by banks to financing available through non-bank FinTech lenders. With so many choices available, it’s important for business owners to carefully consider their financing options, look closely at rates and terms and their relationship with the lender, to find the right fit that meets their business needs.

One financing option business owners may want to explore is a Small Business Administration (SBA) loan, which includes SBA 7(a) and SBA 504 loans. SBA loans are extended to small-mid size businesses through banks and other lending institutions participating in SBA lending programs.* The U.S. Small Business Administration does not directly make loans, but provides a guarantee for a portion of each SBA loan made to small businesses by SBA lenders. With the government guaranty, SBA loans are an attractive alternative for many qualifying creditworthy small businesses that may not be able to obtain conventional bank financing. These loans typically allow longer repayment terms, and lower down payments than conventional loans.

So, when might an SBA loan be a good option for a creditworthy small business? From our experience, some of the top reasons business owners pursue an SBA loan is when a business has limited liquidity for a down payment, a shortfall in collateral to secure a loan, or a more highly leveraged balance sheet. SBA loans also are pursued by business owners who want to finance owner-occupied real estate, purchase equipment, expand to a new location or secure working capital.

One way to know if an SBA loan is the right option is to talk to a banker before a lending need arises. A full-service provider of financial services can evaluate financing options, including SBA loan products, and provide guidance to help a business achieve new levels of success.

In an improving economy, creditworthy small businesses have the opportunity to secure a great loan product with excellent terms, and use the financing to help make 2018 the launching pad for future success. QCBN

By David Dinerman

David Dinerman is the senior business relationship manager with Wells Fargo’s Business Banking team in Prescott, Arizona.

Four Things You and Your Business Should Consider Heading in to 2018

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Smart business owners are constantly working to improve their business. As the New Year approaches, many are finding themselves asking one question: What can I do to put myself in the best position for next year?

Considering the previous year and identifying opportunities to grow are crucial when looking to jump start a new year. The following is a list business owners should consider while heading into 2018:

 

  • Reflect on your goals from the previous year. Did you reach your goals? If so, how did you do it? If not, how can you better position yourself to succeed this year? When trying to achieve their goals, some business owners find it helpful to set a series of smaller objectives in order to achieve an overall goal. For example, if you want to increase your social media presence, minor goals could include establishing a strategy, setting aside money to invest in a social media platform and reaching 100 profile views every two weeks. Recognize what works for you and your business and commit to a “New Year’s Resolution for your Business.”

 

  • What can I do differently? Hindsight is 20/20. Whether you want to make a difference by reducing costs, consolidating departments or adding a new revenue source such as a landscaper who is adding weed spraying to his lineup, or a physician adding a telemedicine component to their practice to serve more patients. These are all examples of potentially effective ways to make positive changes for your business.

 

  • What are the best methods to grow? Consider how you want your company to grow and the best way to do so. Many companies enter the last quarter of the year and try to spend their profits on equipment purchases such as new company vehicles for the sole purpose of getting more write-offs and reducing taxes. However, if they are planning for financing in the New Year (maybe buying a building, acquiring a competitor, purchasing a large piece of equipment, etc.), it may make more sense to maximize profits and reduce expenses to attempt to improve the credit and financing profile of the business. As a business owner, it is crucial to think long-term when making decisions in order achieve optimal success.

 

  • How can I continue to learn? This is probably one of the most important questions business owners can ask themselves. It does not matter how long you have owned a business or how much you have mastered your industry, it is always important to learn more as the market is always evolving. While this is an important question to ask at the beginning of the year, it can help you reflect on the business year. It is crucial to think of ways to develop your business acumen. This can be as simple as dedicating 30 minutes every day to reading up on your industry, or can be as adventurous as attending conferences and networking with other business leaders.

 

When a year ends, it is an opportunity to reflect on your business and carry forward the knowledge you have learned and build a foundation for your business’s success in 2018. QCBN

 

By David Dinerman

School of Business Launched

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A significant increase in the recruitment of Embry-Riddle Aeronautical University (ERAU)-Prescott business majors and minors was a factor that prompted the ERAU board of trustees and the university administration to elevate the Department of Business to College of Business status.

Approval of the new school only occurred in late November, said Associate Dean of Business Robin Sobotta, Ph. D.

“The advantages of being a School of Business are many, including the prestige of putting the program in a competitive arena with major schools of business across the country,” Sobotta said. “Already, our industry partners such as Boeing have selected ERAU as a ‘focus’ school – a priority – for recruiting students in supply chain management. Boeing’s decision to place our program in the ‘top tier’ for their recruiting efforts puts us in the company of prominent schools such as Stanford.”

She noted that already Boeing had selected seven business students to be in the highly competitive summer 2018 internship program.

Expressing pleasure in the new designation as a School of Business, Chancellor Frank Ayers said the university was proud of being nationally recognized for the state and national achievements of students and faculty. “The school will continue to prepare business leaders in meeting the challenges of the future. We will graduate some of the best prepared young business majors in the nation.”

In recent years, enrollment in ERAU’s business program has grown to 180 business and accounting degree-seeking students, with another 250 students pursuing minors in the program. Beyond that, the business program serves another 1,100 students in business, accounting and economics classes. Many of those students come from degree programs such as Aerospace Engineering, Cyber Security, Industrial Psychology, Unmanned Aircraft Systems and many others, Sobotta explained.

“Something we’re really proud of,” she continued, “is that of the 30 or more institutions accredited by the Aviation Accreditation Board International, ERAU is the only one to offer an Aviation Business Administration degree. We offer the full suite of courses – accounting, marketing, finance, information systems, economics. Our graduates have a very broad skill set. That’s also probably why 90 percent of our graduates are employed or enrolled in graduate programs within one year of graduation.”

Sobotta said that prior to graduation, many students are selected for prestigious internships or employment by major airports and airlines such as American, Delta, Southwest and Allegiant. Aerospace and defense employers such as Raytheon, Boeing and Lockheed routinely recruit ERAU students. So do governmental agencies such as the Department of Justice, the Federal Aviation Administration and others.

The new designation will put new demands on the eight full-time business faculty and equal number of adjunct faculty. In fact, Sobotta indicated that a new full-time marketing professor would likely be added in 2018, and two adjunct faculty members will likely be converted to full-time positions.

She also said that expansion of the program is necessitating exploration of more campus room for new technology, equipment, software and other resources.

“We’re always looking for qualified faculty members, too, so if anyone is interested in teaching in our new school, I hope they will contact me.” Sobotta can be reached at 928-777-6938 or in her office in the Academic Complex near the center of campus. QCBN

By Ray Newton, QCBN

 

 

Photo by Ray Newton

 

 

 

 

Three Things to Consider When Buying a Business

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Every day, ambitious entrepreneurs seek help when looking to buy their own business to build an investment for themselves, their families and their future. While the opportunity may seem daunting to some, others enjoy the freedom, control and excitement of starting an empire of their own. However, what some entrepreneurs underestimate is that with complete control comes significant responsibility.

Buying a business is a large undertaking that requires thorough planning, execution, time and money. Here is some insight on some of the most important things to consider before buying your own business.

 

  1. Why do you want to buy a business? More specifically, what are you trying to accomplish? Some entrepreneurs seek freedom and flexibility from their regulated corporate lives, some are passionate about certain industries and others are motivated by the opportunity to provide a stable foundation for their families. If you are one of these types of entrepreneurs, or a combination of all three, it is important to realize your motivation, as it will be a key factor in business decisions moving forward.
  2. Once you are completely committed to becoming a business owner, it is time to figure out how to start by making sure you understand the basic similarities and differences between starting your own business and buying an existing business or franchising.
    1. Starting a business from scratch can be a difficult endeavor that requires a lot of time, money, patience and motivation. It allows for complete control over business decisions and daily operations. You make your own business hours, hand pick your staff and control essentially every aspect of the business. However, you could struggle in the beginning as you figure out the best way to run daily operations. While there is more freedom, there is also potentially more risk.
    2. The main difference between franchising and buying an existing business is the level of control you will have. Franchising provides guidance. In a franchise, the franchisor, or the business owner, sells the rights to their business’s logo, name and model to an independent franchisee. Franchises are most common in businesses that are considered to be “chains” such as restaurants and hotels. When you buy a franchise, you get the right to use the name, logo and products of the larger brand. In comparison, buying an existing business gives you more control but less guidance by taking on full ownership of the business.
  3. Do your due diligence. When buying a business, perhaps one of the most important factors is making sure that you understand everything that goes into daily maintenance. Some factors to consider include financial information, real estate, licenses and permits, and environmental issues.

 

By considering these factors, you are on your way to establishing the foundation for becoming a well-rounded business owner, as well as setting up your financial future. While taking on a business of your own may seem daunting, it is important to remember that sometimes the most challenging experiences are often the most rewarding. QCBN

 

By David Dinerman

Four Easy Steps to Win the Fight Against Fraud

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In the world of virtual transactions, online transfers and email verification, more consumers are falling victim to fraud than ever before. Impostor fraud is one of the most critical security risks organizations face today. By definition, impostor fraud refers to a “fraudster” posing as a person or entity you trust and requesting a payment or a change to vendor payment instructions.

Fraud schemes are constantly evolving as a result of technological developments. There’s a common misconception that only businesses in large cities are at risk, when in fact businesses in small towns are just as vulnerable. According to the FBI, there was a 2,370 percent increase in financial losses from email fraud between January 2015 and December 2016. A common example is when a fraudster gets access to your email account and sends messages to one of your employees asking them to wire money somewhere, likely to their own bank account. Once wire transfers are sent, they are rarely, if ever, able to be recalled. The fraudster then gains access to the funds in seconds.

In order to prevent impostor fraud, it is crucial to identify protective measures. To help protect yourself and your company, here are four easy steps you can take to minimize your risk:

  • Verification is key in preventing fraud. Whether it’s verification by email, phone, security questions or voice recognition, it’s important to make sure your bank verifies any transactions through your account using one of these methods. A couple years ago, I received an email from a customer explaining that he needed to wire money to a separate account. The customer went on to explain that he was in the hospital and too sick to come to the branch to verify his identity. When he called the contact number listed on the account, the customer told him he was not in the hospital and the email was fraud. This is one example of how fraudsters try to hack into accounts using email and can easily do so if their identity is not verified.
  • Be aware of employee fraud. Employee fraud is one of the most common types of fraud. While employees are often the most trusted, they also have access to the most information in regards to a company’s or customer’s finances. To best protect from employee fraud, have separate people in your office process payables and receivables. This helps to avoid the temptation of an employee writing themselves a check and then balancing the books accordingly.
  • Separate as much as possible. Limit your combined accounts by having a separate account for deposits and payables. Then, if the fraudster gets your account number off of a check and steals money from your account, you are at least protecting one of the accounts rather than giving them access to both.
  • Talk to your bank. Your bank is a crucial resource in the fight against impostor fraud. Learn more about safeguarding payments and fraud protection services that are available. You would be surprised at the products and services your bank offers to protect you from different types of fraud. Many banks now offer fraud alerts if they believe a charge has made to your account that is out of the ordinary. Some banks also allow you to cancel your card online to prevent any further charges once you suspect fraudulent activity. QCBN

 

By David Dinerman

David Dinerman is a senior business relationship manager with Wells Fargo’s Business Banking Group in Prescott. He has provided financing and banking services to businesses and commercial real estate investors in the Prescott area since 2004. He can be reached at 928-717-6045 or david.dinerman@wellsfargo.com.

 

SCORE Means Business

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The opportunity to start your own small business, and become rich, has never been better than right now. Your idea, your dream, your vision, even your hobby could come to reality if you have the desire to try and make it happen.

First, find something you like to do. Something that’s fun. Why not? Otherwise, stay in your current job working for others and not enjoying it. Next, set some objectives. Start with how much money you want to pay yourself. This is easy because you’ve become your own boss. Then determine where the income will come from and how much it might be. Now, figure the costs to produce your product or service. Sounds pretty simple, doesn’t it? Well it’s not. Why? Because you haven’t done it before.

This is where a SCORE volunteers can help. They will walk you through the process step by step. SCORE volunteers are experienced business men and women who “have been there, done that.” Someone along their life journey stepped in to give them a chance to become successful. And now they are willing to help you and others become successful. They meet with you face-to-face. And the counseling is free.

SCORE volunteer counselors, or mentors, will help you at the very beginning to form your proposed business or company. They will help you determine your markets and how to reach them; analyze the competition; guide you through the preparation of an operating statement; discuss areas to be watchful; and review your plan to achieve results. You will do the work. SCORE mentors will give you options to consider so that you make the decisions. You are the new boss. It’s your business plan. Preparing the plan is the hardest part of starting a business. As with any activity, practice and/or preparation is always the most difficult. Executing the plan requires discipline and should be fun. SCORE would like to share in your success.

SCORE also helps existing businesses. If your business is stagnant, failing or wants to reach a new plateau by growing or expanding into new markets, SCORE volunteers are available to listen and offer options to help you. This is a very changing economy in which we exist. If your business doesn’t make the changes necessary to compete, then you cannot expect the results to change. Nor will they be any different in the future. Many of the changes that affect your business, like taxes, vendor costs, legislation, employee personal problems, are not in your control.

SCORE volunteers have experienced these same problems over their many years in business. They are former CPAs, tax consultants, insurance and financial executives, marketers and trainers from many industries. They are professional men and women who have people skills, know how to negotiate, planners, problem solvers and disciplined managers. Many have contacts throughout the world. They know how to work smart and how to make money.

SCORE is a business, a volunteer organization of more than 11,000 counselors dedicated to helping small businesses become successful and grow. We need to make the Prescott area and Northern Arizona economies stronger. By co-working, networking and working together with the numerous resources available, we can accomplish that goal. If you are interested in meeting with a SCORE counselor, simply go to www.northernarizona.score.org and request a mentor. Or, call the local office at 928-778-7438. The SCORE office is located at 1228 Willow Creek Road, Prescott, Arizona, 86301. QCBN

By Jerry Jones

Jerry Jones is president of the Northern Arizona Chapter of SCORE and a certified mentor.

 

 

Seeking Destination, Lifestyle Retailers

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Robust. Vibrant. Optimistic. Moving forward. Such are descriptors by economic development professionals with the Town of Prescott Valley and the City of Prescott regarding their retail industries.

Quad Cities Business News caught up with Ben Hooper, economic development coordinator for the Town of Prescott Valley; Wendy Bridges, economic development coordinator and film commissioner for the City of Prescott; and John Heiney, community outreach manager for the City of Prescott, to obtain insights. Capitalizing on the allure of their municipalities for retailer prospects, these experts employ strategies to satisfy local and tourist consumers in their buying habits.

Among the topics was Prescott Gateway Mall (PGM), sitting atop Bullwhacker Hill 4.5 to six miles from the communities’ central shopping districts. The mall, purchased from receivership in 2013 by Tabani Group Inc. of Dallas, Texas for $16.3 million, was auctioned in April to an undisclosed bidder for $10 million. Under Tabani’s ownership, several parcels earlier had been sold off, including those under Texas Roadhouse, Cost Plus World Market, and cell towers. Anchors Dillard’s, JCPenney and Sears have owned their parcels since the mall opened in 2002.

“With the data we have and existing contacts in our area already, we will always stand ready to assist the new owner with retail recruitment,” Heiney said. “We hope to partner with them and assist in any way possible, once we know who they are and what their goals are. We have some tools to assist them. They are an important piece to our retail mix. Their success is our success.”

Shortly after the April auction, Wildflower Bread Company – one of the mall’s most popular establishments – announced an anticipated move to construct a stand-alone restaurant to replace its current location at the mall’s round-about.

“We have met with Wildflower already,” Heiney said. “We are excited about their investment in the city. They wanted a larger location to meet criteria for a flagship type of store. We are working with them to meet their objective of opening by the holidays.”

Rumors continue to fly regarding the mall and its future. There is no indication whether the premises will remain a standard mall, be reshaped as a discount complex, or repurposed to something else entirely. Disclosure of the new owner’s identity is anticipated within 60 days, following close of escrow.

Stating that the recession hurt the mall “considerably” and citing recent estimates of occupancy at 60 percent, Hooper advised: “We’ll have to wait and see. Time will tell if it can come back [and] what new ownership wants to do with it.”

That occupancy rate, which had been around 72 percent when Tabani took over management of the property, “pretty much signals the end, unless [the new owners] change its use,” Hooper shared. “I am not a developer and can’t predict what they know ahead of buyers, but they may want to work to diversify what’s in there away from retail. A satellite [university] campus would not be a bad idea, certainly,” though he cautioned that moving away from retail then could present challenges to retaining the three anchor department stores.

“In my experience, retailers are not innovators,” Hooper said. “They want to make money and have a method of making money. If that doesn’t align, they will relocate. Some will relocate into Prescott Valley. You’ll see more of that as people continue to recognize that Prescott Valley is more the center of retail in the county. Crossroads is a fantastic location. It’s the same thing at 89A and Glassford Hill Road. We can draw from both areas, and neither location is a far drive.”

Of the mall location, Hooper said, “If there [were] no mall there, it would not be my first choice for a retail center. There’s terrible visibility from the highway. It took an enormous amount of grading and site work to get ready. All of that adds cost to a retail model.”

Nationally, the trend is toward more lifestyle centers and open-air malls, Hooper said, “Consumers don’t want to spend 45 minutes searching. They don’t want to walk all the way through a mall. That had changed by the time they built that mall.”

Heiney hesitated to speculate what could occur with the mall, but acknowledged that “we’ve seen malls struggle across the country. A lot of malls have been remade. They were brought to their knees, almost completely empty, and yet remade. There are a lot of successful models out there that the new ownership can look at and work with. I am very confident that they can work with and make something of the mall. The city stands ready to assist with whatever their goals and objectives are.”

The mall’s struggles to date fortunately have not rubbed off on the overall retail environment of either Prescott or Prescott Valley.

“We are the fastest growing community in Yavapai County and the largest in Yavapai County,” Hooper said. “And we are the only community in [the county] that is growing younger every year,” with the average age hovering around 37 years.

Prescott Valley’s last fiscal year ended June 30 with $440 million in retail sales, and 2017 is projected at $460 million to $456 million, Hooper said. Walmart has been a significant contributor to that growth. Average dollars per square foot mirror Arizona’s 4th Congressional District encompassing most of Yavapai County and some of Maricopa County at $256 per year, he noted. Hooper estimated the town’s retail vacancy rate at about eight percent.

The town has “definite retail gaps,” such as restaurants, businesses specifically targeting niche markets such as babies, and geographic voids. Hooper said that he is “hopeful that with the massive increase in population we keep seeing, a new neighborhood-style retail center” will be built.

The most likely location, he explained, would be at the north end of Highway 89A at Glassford Hill Road or Viewpoint Drive to serve residents of Pronghorn Ranch, Viewpoint, Granville and surrounding unincorporated areas. His “perfect world” vision for that area involves a grocery-anchored retail development with nail, hair, pharmacy and similar amenities to “serve the residents on that end of town.”

Several locations in Prescott Valley comprise Arizona’s top performing storefronts for corporations such as Fry’s Food and Drug, Maverick and the Family Dollar Store, Hooper said. The latter two, near Quailwood subdivision, indicate that this area also is ready for retail development, Hooper explained to capture demand from Dewey-Humboldt residents.

Hooper’s wish list, if demographics support it, includes a smaller footprint Cabella’s store for the hunters and outdoorsmen in the area; another grocery store on the north or far east side of town; a discount storefront such as Burlington Factory as the region grows to support it; “lots and lots” of restaurants, both chain and locally-owned; hotel and conference room space to accommodate events and business meetings; and satellite car dealerships as offshoots of some of the big names in Prescott.

“We are a town that is ready for new business, a town that is ready to continue our growth,” Hooper said. “We have a plan, a managed plan to do it, one that is respectful of our water resources, respectful of our natural environment. Nature is always displaced, but there’s a way to do it [with reduced impact].”

The City of Prescott’s ongoing efforts in developing retail opportunities has been supplemented by a contract with Buxton Company, a retail recruitment strategy company and data aggregator. The Prescott City Council in December established a $48,000 one-year contract with the firm “to help evaluate our market and matching retailers that are a good fit for us,” Bridges explained. “There’s really a particular type of retailer we have set our sights on, although we are not ignoring others.”

That target is “destination retailers” or “lifestyle retailers,” Bridges clarified. “We are bringing people in from outside of Prescott to shop. Residents already are leaving our market to find retailers they want to shop. Some of our prospects are not even available [yet] in the north central part of the state.”

Employing the Buxton data and recruiting retailers are a “big focus for the next weeks and months,” Bridges said. “We are still very early in the process” and therefore not able to provide specific names of retailers being targeted. Existing examples are Trader Joe’s and Costco.

“Folks from the region coming to these destination retailers are actually spending the night in Prescott,” Bridges said, describing an identified trend. The plan also is to incorporate the Buxton data to assist hotel and business operators in knowing where visitors are coming from and where they are spending money.

“Little niche stores are very successful here,” Bridges said. “It’s harder for them in a larger market to be competitive. There’s a lot of new business coming in, and obviously, we are excited about that.”

Several of those new “mom and pop” ventures include Lavender Hill Farms in Bashford Courts, as well as John Hancock Barber Shop, a leather goods store and Union Home Mortgage in the Elks Opera Building.

“With a lot of downtown stores, it’s the experience of it,” Bridges said. “Downtown is a fun place to be. Meandering, one-of-a-kind unique propositions locally sourced. Those are the things that people seek out. The people running those businesses are your neighbors, too, so you feel good about doing business with them.”

Heiney, who, similar to Hooper, recently moved to Prescott from Michigan, said Prescott’s historic downtown “is one of the best I’ve seen. Locals and tourists seek it out. We are fortunate to have such a strong, healthy downtown. A lot of people work very hard to make that happen.” QCBN

By Sue Marceau, QCBN

Photo caption:

Grant Quezada, a veteran and owner of John Hancock Barbershop in Prescott’s Elks Opera Building, styles the hair of customer George Beitzel, also a veteran and a realtor with Realty Executives. Quezada’s shop is one of the city’s newer retail establishments.

Photo by Sue Marceau

 

 

April 19th, Watters Hosts Chino Valley Chamber of Commerce Business Mixer

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Local business owners or those Interested in finding more about the Chino Valley Area Chamber of Commerce and local business initiatives are invited to their next business Mixer on Wednesday, April 19, 2017 from 5-6:30pm. The event will be held at Watters Garden Center, 1815 Iron Springs Road in Prescott.

Watters Garden Center is a locally owned nursery that specializes in providing avid gardeners and novices alike with the expertise and products to get things growing in the mountains of Arizona.  The Quad City Business Newspaper is co-hosting this event and serves the region with news about local business, healthcare, and education.

Featured Non-Profits will be The Rotary Clubs ‘Grapes 4 Grades’math and reading clinic and the Chino Valley Boys and Girls Club of Arizona.  Some exciting news will be shared at the evening mixer.

Chino Valley Area Chamber of Commerce is a local business coalition and nonprofit organization. It works locally to create a stronger economy, build vibrant communities and produce better local job opportunities. This event is an opportunity to meet and connect with existing members, as well build a stronger network of local, independent businesses in the region.

Creating the Optimal 2017

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Now that the holidays are over, business consultants suggest taking some time to get organized and set goals for the New Year, both for your business or yourself.

Suggestions include budgeting, journaling and helping employees help the company.

 

SMART Planning

Steve Bracety, general manager of the Prescott Resort and Conference Center, says he uses the word “SMART” to move himself and his staff in the right direction.

The goal should be Specific, Measureable, Actionable, Realistic

and Time Bound. SMART.

“You need to determine the goal you want to achieve, determine for your team or yourself who is responsible for the goals and who is leading the charge,” Bracety said. “In the end, I always want to accomplish whatever a home run is to me.”

For example, if a manger wants to increase sales, he or she must decide how to go about doing that. You decide who you need on your team to accomplish that and follow up so there are no hidden surprises. Inspect what you expect.”

 

Identify the Budget

When asked what the single most important thing to do when making plans for the New Year, T. Paul Thomas, a veteran CEO, business leader and professor at Northern Arizona University, says it is putting in place your financial plan and asking for help doing it.

He emphasizes that it is important to include the opinions of everyone in the company, whether there are 50 employees or thousands.

“It is called Bottom Up Budgeting,” he said. “You have to have a way to get everyone engaged in it.”

Department members identify what they want to focus on, how much money it will take, and then, they can plan for the year.

“It rolls its way up to the top,” Thomas said.

Once the plan is in place, it is important to meet with department heads each month for an update to make sure they are on track.

“If I get to do two things, it would be to really focus on employees,” he said. “I am always blown away by employees and how very little it takes to make them happy.”

Thomas, who has worked all over the world and for several major companies, says whenever he went to work as a CEO for a new company, he interviewed everyone.

He asks what they do in order to “learn how they see their role in the company.”

He asks how many times they have thought about leaving and why. “That shows me their frustrations with the company.”

And finally, he asks if the person were the CEO, what three things he or she would change immediately.

“That tells you the issues as they exist right now.”

He continued, “If you take care of your employees, everything else gets taken care of. They will take care of the company and they will grow the business more than any plan you put together.”

 

The Power of Words

In order to get organized to be productive, Dr. Stacia Pierce starts journaling.

“I start out by setting goals in my journal and looking back at it at least every month,” she said. “You would not believe what a difference it makes.”

She warns that if a person does not review the goals frequently, he or she might lose focus.

“Life happens. Distractions happen. If you don’t review your goals, half of the year will be gone and then you say maybe this is not going to happen. Reviewing goals frequently helps keeping you in alignment.”

Next, Pierce, an Orlando-based motivational speaker and life coach who has helped thousands set, define and reach their personal and professional goals, suggests choosing a word for the year.

“Use this word daily. Create activity around the word. Ask yourself, ‘Do I need more rest? Do I need to be more productive?’ Whatever you need. Create an affirmation around the word,” she said. “Say this is my mantra for the year. I am going in this direction.”

Finally, create a vision for the year.

“I like to put this vision in my journal,” she said.

The vision should determine what 2017 should look like to you.

The recurring theme with all of these experts is constantly checking in with employees and yourself to keep moving forward so the goal can be reached.

As Bracety said, “Check in. Check in. Check in.” QCBN

 

By Patty McCormac, QCBN

 

 

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Sampling Prescott à la (Golf) Cart

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golf-cartYou cannot help but grin and enjoy the ride. There is a sensation of freedom in tooling around downtown in a Ride Prescott golf cart on a sunny autumn day. The wind tugs at your hair, the enthusiastic driver shares local insights and you have this irresistible urge to wave at curious onlookers.

Owner Katie Cornelius and her business partner, Kyle Conklin, opened Ride Prescott as a fun way to help people get around. October’s soft launch set in motion a multi-faceted mission to provide a needed service, mentor entrepreneurs, keep sales dollars local and collaborate with area businesses. Tourists and locals alike have enjoyed the ease with which they can hop aboard a golf cart and get from one end of downtown to nearby offices, boutiques, shops, eateries, distilleries and watering holes in a leisurely matter of minutes.

Cornelius is putting her extensive sales management expertise to work in Prescott, after teaching business basics, practices and operations to more than 800 small business owners in other areas of the country. She also works as recreation coordinator for the Town of Chino Valley.

“I have a passion for rural entrepreneurship,” Cornelius said. “What we are able to do is offer people the opportunity to run their own businesses and drive. If they [also] get a peddler’s business license, they can sell water or prepackaged goods off the cart. I love that I get to help teach entrepreneurs because once that spark is ignited in a minor role like this, they can continue that in their lifetimes. I love having the ability to do that.”

The “street-legal” Ride Prescott golf cart service runs in an area east and west from the Apache Lodge to Park Avenue, and north and south from Sixth Street to Bill’s Grill. Rain or shine, the service offers relief to over-exerted bodies or riders who just plain prefer not to hoof it. One-way rides are $5.

Regulated as livery services by the Arizona Department of Transportation and subject to the business licensing requirements of the City of Prescott, the local carts are confined to streets with a maximum speed of 25 miles an hour. Limited operating range, a fixed price fee structure and slower speeds differentiate the carts from taxis, limos and other public livery services, Cornelius says. Ride Prescott’s drivers gravitate toward less popular streets to enhance the trip for riders and lessen impact on other road traffic.

The drivers for Ride Prescott and Ride Scottsdale are independent contractors who manage their own businesses. They rent carts from the firm, and in return, are supported in providing the ideal customer experience. The business phone number, for example, is routed to the cell phone of drivers on duty. Drivers are also educated on the best routes to take for various destinations.

“It is really neat watching drivers grow their businesses every week, to see them develop the relationships and clientele and truly run their own businesses,” Cornelius said. “They can make money on their own terms, but at the same time, have some stability.”

The cart business revved up after Conklin invited Quad Cities resident Cornelius to dinner, and picked her up at a Scottsdale hotel in a golf cart. Upon seeing the cart, Cornelius exclaimed, “We should do this in Prescott!”

And so they did. Conklin manages Scottsdale operations, while Cornelius focuses on Prescott. She also coordinates the sale of advertising space on the carts to local businesses and oversees marketing. The two locations share a fleet of carts throughout the year, based on seasonal requirements.

“Taking a random conversation you had with someone over drinks and seeing it grow into an actual company is extremely fulfilling,” Conklin stated.

The impact of their business partnership also impresses Cornelius, who said, “It keeps standing out to me that if this were just my idea, I never would have brought it to fruition. It is the partnership that made it possible. In small business, that is a huge thing. Some people have the idea, but to actually bring it to life is a whole other thing. Not only do we provide needed transportation to tourists and locals, but we also support local business within downtown Prescott. Local businesses have got to support local business.”

Destinations include Prescott Winery, Thumb Butte Distillery, The Barley Hound, the English Tea Garden Room, Elks Theatre & Performing Arts Center, Yavapai College Performing Arts Center, antique shops, thrift shops, boutiques, coffee houses and similar venues, as drivers share their personal knowledge of what to see and do in Prescott.

Out-of-towners spend their time on Gurley Street, Whiskey Row and “maybe stumble onto Cortez” Street, Cornelius explained. “Then, the altitude gets to them. We [residents] forget about being up here a mile high. Visitors don’t understand why they are getting tired. Between the altitude and Elks Hill, Ride Prescott is perfect for expanding business around and off the Square.”

Veterans and senior citizens living within walking distance of downtown form a significant percentage of ridership. They often “walk downtown and we give them a ride back,” she said. “These were not categories we had identified as servicing, and it has been the bulk of our daytime business. It’s nice to provide a service to those that have a need. If we can bring joy to people’s lives by bringing them from A to B, amen.”

Through parent company Ride Local, Cornelius and Conklin plan to expand within Arizona in the coming months. Ride Jerome and Ride Sedona are slated to open during spring 2017, while “every city and town in the state” is on the projected timeline through 2020. The goal, even with a statewide expansion of the brand, Cornelius says, is to keep the ventures small and radiating local flavor.

“I love taking people over to the [Thumb Butte] Distillery and showing them the different things made here in Prescott,” Cornelius said. “The fact that they are made here in Prescott is such a huge thing to me. Same thing with the [Prescott] Winery. People are stunned at how fantastic our wines are in this town. I am so very proud of that.”

According to Cornelius, the venture also is about giving back. She delivered meals to seniors with her grandmother as a child in Michigan and continued that tradition into adulthood. Now, she has named Prescott Meals on Wheels to receive one percent of Ride Prescott’s corporate profit. QCBN

By Sue Marceau

For more information, go to RidePrescott on Facebook or call 929-2-RIDE-US.

Katie Cornelius (right), owner of Ride Prescott, takes a call while waiting for a fare at the corner of Gurley and Cortez in Prescott. Daughter Parry Cornelius enjoys the passenger seat.