business monthly - february 2013

cvbusinessmonthly.com

Cedar Valley Business Monthly is a free monthly publication direct-mailed to more than 6,500 area businesses.

Contact us at (319) 291-1527 or P.O. Box 540, Waterloo, IA 50704.

EDITORIAL STAFF

Jim [email protected](319) 291-1598

Nancy Raffensperger [email protected]

Meta [email protected]

ADVERTISING

Sheila [email protected](319) 291-1448

Carrie [email protected](319) 291-1489

staff directory

Volume 7 No. 3www.cvbusinessmonthly.com

University of Northern IowaResolutions to help your business thrive during 2013. page 6

DESIGN STAFFAmanda HansenDavid Hemenway

Alan SimmerDoug Hines

The time has come for the Ce-dar Valley Business Monthly to turn a new page.

As you will notice as you flip through this issue, the magazine has a sparkling new look.

Cedar Valley Business Monthly, which The Courier has published as the region’s busi-ness-to-business forum for seven years, has been in a slow, steady pro-cess of evolution during. Its pur-pose has never wa-vered: to provide a platform through which entrepre-neurs can offer their own special-ized insights on issues that affect them and others in

the business community.Each year, the magazine has

brought in new perspectives, from

experts on management, invest-ment, personnel, community out-reach and, most recently, social media.

Over the years, the focus of Ce-dar Valley Business Monthly has sharpened. Contributors have con-tinued to address a range of issues coming out of Washington, D.C.; Des Moines; Waterloo; and Ce-dar Falls — topics that affect each reader in different ways. The goal has been to provide the business community with a tool that can en-hance entrepreneurs’ chances of success in navigating an increas-ingly treacherous environment.

The magazine always has been content-driven, with local busi-ness leaders playing a major role in steering it along. Cover stories have attempted to tackle some of the fastest-moving trends that con-cern entrepreneurs, from health care and taxes to hiring and retire-ment plans, as well as emerging careers.

Now, your monthly publica-tion is taking on more of a maga-

zine-look, and content will play a key role in this new step. Submis-sions and cover stories will fea-ture graphics, statistics and other useful tidbits available at a glance in a more user-friendly format. A slicker, magazine-type layout will provide a splashier, aesthetically pleasing showcase for columnists, as well as in-depth reports.

The transition will not be instant. The change in formats has been a long-thought-out process and involved months of planning and meetings with some of The Courier’s most creative minds. Editors and graph-ic artists traded ideas on numerous possible for-mats. Mock-up issues were designed and dis-cussed in depth before a final format emerged.

Readers will find bold, colorful packages, cre-ative headlines and some of the best pho-tography in any busi-

ness publication in the country.Of course, the heart of the publi-

cation — topical news stories and columns from regular contribu-tors — will continue to be the chief drivers of Cedar Valley Business. Without compelling content, new packaging would be for naught.

We feel readers of Cedar Valley Business will find the new format a major step forward. And we wel-

come your input.

Jim Offneris the Courier

business editor. Contact

him at jim.offner@ wcfcourier.

com.

Welcome to the new Cedar Valley Business from the editor

sponsors

contents

DAWN J. SAGERT Cedar Valley Business Monthly

FROm ThE COvER

Recycle Rite, a company owned by Brian Hoyer, left, is one of the success stories of the UNI Incubator. Hoyer is pictured here with employee Brady Feldman.

CeDAR VAlley BuSiNeSS MONTHly february 2013

ON ThE COvER Brian Hoyer and Brady Feldman of Recycle Rite. By Dawn J. Sagert, Cedar Valley Business.

page 4


Business startups nurtured by UNI incubators

cover story

JIM OFFNER [email protected]

Brian Hoyer admits his am-bition is years ahead of his education.

That doesn’t mean Hoyer, who has two years of college behind him, won’t finish a business ad-ministration degree. It’s all part of his plan.

It’s just that Hoyer, of Cedar Falls, wants to get on with his dream to be an entrepreneur.

With a bit of guidance from the Student Business Incubator at the University of Northern Iowa, he doesn’t have to wait. Hoyer’s com-pany, Recycle Rite Inc., celebrated its second anniversary in January.

Recycle Rite is one of nearly a dozen startups operating out of the UNI student business incubator. UNI students and peers from oth-er colleges are developing and ex-ecuting their own business plans. UNI also runs a Small Business De-velopment Center and an Innova-tion Incubator for nonstudents.

Recycle Rite is touted as one of the latest success stories.

“From year one to year two, we’ve definitely doubled our busi-ness,” Hoyer, 23, said. “I think we’ve increased revenues, like, 95 percent.”

The company collects recyclable material from residential and busi-ness clients in Cedar Falls. Each

customer gets a 50-gallon wheeled and lidded bin. The company, which has six employees, sends a truck by for regular pickups.

The company’s client list includes Jiva Salon & Spa, Bike Tech, Hum-ble Travel, Far Reach, Talk To Me Technologies and Cedar Falls Pub-lic Library, as well as a number of firms in the Cedar Falls Industrial Park, where the Recycle Rite re-cently moved into a new opera-tional warehouse, Hoyer said.

The company collects 20 tons of recyclables a month, Hoyer esti-mates. It sells the paper, plastic and other materials to City Carton Re-cycling in Waterloo, which sorts, bales and sells the waste.

Hoyer says he has gotten a lot of moral support.

“A lot of people say you can’t do something, but I really haven’t had that,” he said. “Friends and family have been super-supportive and doing whatever they can to help out.”

The company’s genesis in the business incubator played no small role in that, Hoyer said.

The incubators guide startups through initial phases, including developing all-important business plans, said Katherine Cota-Uyar, associate director and instructor of entrepreneurship with the John Pappajohn Entrepreneurial Center at UNI.

DAWN J. SAGERT Cedar Valley Business Monthly

Recycle Rite owner Brian Hoyer, left, pauses in the driver’s seat while employee Brady Feldman prepares to move to the next stop in Cedar Falls.

Heating up

� FebruAry 2013 CEdaR VallEy BusINEss MONthly


Register online or call 319-296-4290.www.hawkeyecollege.edu/business-and-community

�CAREER DEVELOPMENTBuilding Your Social Net Worth [NEW] –

Begins February 22, 9:00 a.m. - 12:00 p.m.Balancing Acts and Gadgets [NEW] –

February 22, 11:30 a.m. - 1:00 p.m.

�MANAGEMENT & LEADERSHIPFranklin Covey Leadership Series: Unleashing Talent –

February 13, 1:00 - 5:00 p.m.Goal Setting for High Performance – February 20, 12:30 - 2:30 p.m.Developing Accountable Employees – February 20, 2:30 - 4:30 p.m.

� PROJECT & HR MANAGEMENTMobbing is Emotional Abuse [NEW] – February 5, 6:00 - 8:00 p.m.Mobbing, Bullying, Emotional Abuse, and Violence in the

Workplace [NEW] – February 12, 6:00 - 8:00 p.m.Data Driven Team Problem Solving [NEW] –

February 12, 8:00 a.m. - 5:00 p.m.Mobbing and Discrimination: Side-Stepping the Law? [NEW] –

February 19, 6:00 - 8:00 p.m.

Professional DevelopmentOPPORTUNITIES

The are different schools of thought on how long and detailed a business plan needs to be.

“Right now in the industry, there is a move towards doing shorter business plans — and I mean short business plans — like one page,” Cota-Uyar said. “Others say your max should be 10 pages.”

Cota-Uyar believes in a tradition-al business plan that encompasses numerous areas, including man-agement, marketing and finances.

“The teacher in me would say as long as it needs to be,” she said. “From our experience of working with all the businesses we have here, what we usually see is 12 to 20 pages of written information, in addition to the financials.”

A plan helps a business owner address potential issues before the doors open. Once the doors are open, new issues always come up.

Those issues seem to multiply each year, said Dan Beenken, di-rector of UNI’s Small Business De-velopment Center and manager of the UNI Innovation Incubator.

“Their biggest issue is what’s go-ing on in the political realm,” Been-ken said. “It’s about health care, the self-contracting work. It’s those things first. Then, it’s availability of capital.”

Technology gives startups an edge over predecessors from 20 to 30 years ago, Cota-Uyar said.

“Access to information is huge. I can find all kinds of market re-search and demographics and in-dustry reports. Just being able to get that information that’s going to help support my decision-making is a lot faster, so the time to plan is a lot shorter.”

Making things easierIncubators facilitate the process

through the full-time presence of experts. Partnerships with different organizations promote startups.

In the fiscal year that ended June 30, UNI’s student business incuba-tor worked with 22 business own-ers with 12 employees, plus 41 in-cubator tenants. Programs at the Pappajohn Entrepreneurial Center assisted 1,298 students.

Taxes are always a concern.“Rates are going up, and people

are concerned about depreciation changes,” Beenken said. “The folks we work with in the manufacturing space are worried about that, as is or anybody who’s buying heavy equipment.”

In many ways, it’s a better time

to start a business than in the past, Beenken said. The JOBS Act can give businesses access to capital that didn’t exist before.

Still, access to capital can be tough. That enhances the value of programs like Dream Big Grow Here, which awards thousands of dollars to startup owners who make a convincing case to invest in their company. But Dream Big has other, less-tangible value, as well.

“It’s a tool to help those of us in economic development fields get to know them, and it’s an incred-ible tool to get these folks aware-ness,” Beenken said.

One advantageStartups have an edge on estab-

lished businesses in one respect. Innovation can stall at bigger busi-nesses, whose success has them resting on their laurels.

“I think a startup is still in that incredible change phase where every day the product is being innovated on and the idea being worked on.”

A number of firms have come out of the Innovation Incubator, including software company Far Reach, Web developer Brown-stone Marketing and architecture firm TurnKey Associates LLC.

Jason Evans, CEO of Brown-stone Marketing, said the incuba-tor was ideal ground from which to grow his original business, Auto Credit Online. It eventually branched into six companies, of which Brownstone is one.

“The biggest advantage for us was the ability to afford to go somewhere to work,” Evans said.

TurnKey Associates partners Scott Voitt and Ross Schoonover worked out of the incubator for seven years before moving to 3015 Greyhound Drive in Waterloo two years ago. Schoonover said the in-cubator kept overhead low, help-ing the company become profit-able more quickly.

Cota-Uyar said startups share a trait: a commitment to a plan.

“What sometimes happens is people will talk about doing a lot of things — we’d like to explore this or expand that way — but they never do anything about it,” she said. “They don’t research that market or talk to potential custom-ers to see if they’d be interested in that particular service or product. The key to business is taking ac-tion. Otherwise, you’re just sitting around and talking.”

CEdaR VallEy BusINEss MONthly FebruAry 2013 �


Beyond the

with

BOAR

DRO

OM

What’s a hobby of yours?

In 1979, I began to collect Hot Wheels

in earnest, going to toy car shows.

What’s a favorite car you’ve collected?

My favorite all-time Hot Wheel cast-

ing is called the A-OK, a 1929 Model A

Ford Delivery rodded out. My purple

1970 Hot Wheels Olds 442 would prob-

ably be of more interest, as there are

fewer than 10 of these known to exist in

the hands of serious collectors. The last

documented sale occurred about five

years ago for $12,750.

What’s your favorite real car?

That would have to be a Corvette!

I have owned one now for nearly five

years and consider it therapeutic to

drive.

■

■

■

is the president and CEO

of Lincoln Savings Bank.

� FebRuARy 2013 Cedar Valley Business monthly

It’s resolution time for small business It’s resolution time. You don’t need to look

any further than the Special K, Jenny Craig, and Weight Watchers commercials domi-

nating television right now. Why fight the tide? I’m going to propose three resolutions for you to consider for your small business in 2013.

recruit an adviser or board A common mistake of business owners is

their lack of understanding of what they don’t know. I can’t think of a single business owner who didn’t reach their success without some level of outside assis-tance. The best thing about an adviser is they are typically free of charge. You might have to buy them lunch, but the bang for your buck can be incredi-bly powerful for your business. The outside viewpoints, experi-ence, and contacts an adviser or advisory board bring are priceless. When most people think of an adviser or formal advisory board, they think of large companies with boards of directors and assume they are too small to have some-thing similar. While you may not have something nearly as

formal, good advisers are a powerful tool for a small business. For a good read on using other viewpoints to challenge yourself, check out Do-ris Kearns Goodwin’s book “Team of Rivals.”

Be a connector Networking is at the top of every business

owner’s priority list. Too often though, we focus on growing our networks and taking from that network. I challenge you to focus 2013 on pour-ing energy back into your network by being a

connector for others. Find ways to connect the people you know, and I guarantee the energy you put forth will be paid back in spades.

make yourself ‘find-able’ Ignoring your Web presence is an option

small businesses can no longer afford. If you have put this off due to cost or the complexi-ties of technology, it’s time to get past that. The Internet isn’t going anywhere, and if you don’t have a presence, most consumers will never find you. Many assume that if you aren’t on the Web, you aren’t legitimate. There are numerous ways to have an online presence that are completely free and easy. Start there. Get yourself listed on all of the local directo-ries out there — Google Places, Bing Local, Yahoo! Local, Yelp, Manta, Merchant Circle, etc. Start with those first four or five, as most of the online search traffic is done through those vehicles, anyway.

My assumption is that you have a website. If not, make that priority number two. It no lon-ger requires a $5,000 budget to have some-thing out there that people can find online. The key word in that phrase is “find.” If you have your neighbor’s uncle’s barber’s poodle build your website “really cheap,” make sure they incorporate search engine optimization tactics into the design. A site that no one can find is like a beautiful brochure sitting un-der your counter — it’s worthless. There are also numerous do-it-yourself website build-ing tools out there that even a basic computer user can handle. Check out moonfruit.com, weebly.com, Website By Tonight through go-daddy.com or yola.com and spend a couple of hours experimenting.

If you get through this list and need more ideas, give us a call at the Small Business De-velopment Center at (319) 273-4322 and we’ll keep you busy until it’s time for the 2014 list.

Dan Beenken is director

of the Small Business

Development Center and the UNI Innovation

Incubator. Contact him at

273-4322.

Whether Savingfor a Rainy Day...

or a ShinyNew Car,

are designed to be simple soall you have to worry about is

Modern Banking - Old Fashioned Friendliness

IT’S YOUR FINANCIAL FUTURE, Call Today 877-508-2265

visit us @ bankpsb.com

watchingyoursavings

grow.

Savings Accounts,Peoples Savings Bank

Wellsburg 414 N AdamsCleves 33149 159th St.Dike 233 W Dike Road

Check out markets onlineHere’s a brief list of some familiar stock exchange sites where you can follow the latest market developments

Chicago Mercantile Exchange: Spotlights commodity futures and options data, as well as educational insights. www.cmegroup.com

Hong Kong Stock Exchange: Provides latest market updates, research and statistical reports. www.hkex.com.hk/eng/index.htm

London Stock Exchange: Tracks daily activity on world indices and international markets. www.hkex.com.hk/eng/index.htm

NASDAQ: Contains market activity, news and investing insights. www.nasdaq.com

New York Stock Exchange: Offers trading listings, market data and educational info for investors. nyse.nyx.com

■

■

■

■

■

business Development


This is myWartburg story.What’s yours?

I have always been passionate about playing. As a teenager,I was involved in everything I could pack into my schedule— music, choir, church, sports, 4-H, farming, musicals,student government.

Wartburg students differ from others because of theirinvolvement. They don’t just come here to be students –they come here to be involved students.

Wartburg challenged me as a student, a student-athlete andnow as a professional. It molded me into the personI am today.

—Heather Zajicek ’04Assistant Director of Aquatics,

Wartburg College

Leadership. Service. Faith. Learning.��

View more stories and share your ownat www.wartburg.edu/ourstory

cedar valley alliance & chamber

Cedar Valley Business monthly february 2013 �

Creating the place to start a businessThe Cedar Valley economic

area thrives on successful businesses that began one

day when an owner said, “I can do that better.” Some of these former startups are still identified with

that owner — while others have grown into international business powers.

All over the Ce-dar Valley there are examples of people who are passion-ate about some-thing, who deter-mined no one can do it better than they and opened a business to prove it. People like the Bertch family, the

Far Reach Technologies partners or Van Miller’s growing-every-day-into-something-different VGM, the CBE Group or Mudd Advertising.

As their business grew, each dis-covered the value of our govern-ment relations, information, edu-cation and networking resources,

the market growth spurred by on-going promotion and all the other things your professional team does to make the Cedar Valley a vibrant place for business startup and growth.

An observer of business start-up and growth trends in the U.S., Brad Feld, recently wrote “Startup Communities – Building an En-trepreneurial Ecosystem in Your City.” Based on decades of start-ing businesses venture capitalism, and now known for his highly suc-cessful Foundry Group in Boulder, Colo., Feld eloquently writes about the role of organizations like the Alliance & Chamber in creating and sustaining that entrepreneurial ecosystem mentioned in the title.

The best role the Alliance & Chamber can play to foster a ro-bust community that encourages a faster rate of business startups and attracts more people with the desire to take the entrepreneur-ial plunge is as a cheerleader and feeder. In other words, support.

Work on economic vitality — grow the market. Create a place ■

where startups have the best chance of success: work on infra-structure and amenities to create a vibrant, economic base

Make connections — directly, to new sales or service opportuni-ties, or indirectly with exposure to customers and vendors and ser-vice providers through network-ing events, and to other feeder or-ganizations, like the University of Northern Iowa’s Center for Busi-ness Services and SCORE.

Inform them with inexpensive access to quality service providers in educational sessions on topics of interest to new businesses — health care reform, social media tools and the like — delivering info business owners use to increase results and avoid pitfalls.

Work with local and state gov-ernment to keep them out of the way of business startup and suc-cess. Government can get in the way of startups and growing busi-nesses through the increased cost of complying with or being con-strained by this rule or that policy/ordinance/statute.

■

■

■

Be the gathering place for startup community leaders. Those leaders must be people who have recently started their own busi-nesses. As busy as they are, other owners of startup businesses are the best to relate to and offer ac-tionable advice on the startup ex-perience. The Alliance & Chamber is the platform — the roost — for emerging entrepreneurs to gather and share their experiences. It’s also great feedback for the Alliance & Chamber to build its Cedar Val-ley Start Up action agenda.

Believe me, there is a lot of com-petition among communities for business startup activity. We, and they, understand the economic power of startups, and the culture it engenders for addressing social as well as economic issues. The Al-liance & Chamber is motivated and equipped and working to ensure that the Cedar Valley economic area is an attractive place to take that giant step — the one taken by every person who has ever uttered the words, “I’m starting a busi-ness.”

■

Steve Dust is CEO of the Greater Cedar Valley Alliance & Chamber.


F l y e r s B r o c h u r e s M a g a z i n e s C a t a l o g s E n v e l o p e s T r a d i n g C a r d s P o s t e r s P o s t c a r d s B u s i n e s s Cards bookmarks invites s t a t i o n a r y r a c k c a r d s A n n o u n c e m e m t s

calendars folders gift c e r t i f i c a t e sF l y e r s B r o c h u r e s M a g a z i n e s C a t a l o g s E n v e l o p e s T r a d i n g C a r d s P o s t e r s P o s t c a r d s B u s i n e s s Cards bookmarks invites s t a t i o n a r y r a c k c a r d s A n n o u n c e m e m t s

calendars folders gift c e r t i f i c a t e sF l y e r s B r o c h u r e s M a g a z i n e s C a t a l o g s E n v e l o p e s T r a d i n g C a r d s P o s t e r s

Our ServicesCommercial PrintingDigital PrintingMailing ServicesVariable Data PrintingCustom Publishing

www.thepioneergroup.comWest 5th Street,

Waterloo, Iowa 50701

Need it printed fast?High quality?

Right the first time?Come to Pioneer!

1812 Waterloo RoadCedar Falls, IA 50613319-266-3907

www.awardsgiftsengraving.com

Plaques, Trophies, Acrylic, Crystal,Medals, Ribbons, Gifts, Engraving,Promotional Products, and more!

Order your Corporate Awards today!

consumer advocate

� February 2013 Cedar Valley Business monthly

Reverse mortgages can be complicatedA reverse mortgage is a special type of

home equity loan that allows a home-owner to convert home equity into

cash, either through a lump sum or through monthly payments. The amount you can bor-

row depends on several factors, including how much your home is worth, current interest rates, the age of the homeowner or homeowners and the terms of the loan.

Depending on the product, a reverse mortgage may provide you with cash to supplement your retirement income. It can also help you with expenses such as home improvements and health care costs. But it can also be complicated, confusing and costly.

Under a reverse mortgage, you still own the home and the bank pays you instead of you

making monthly payments to the bank. The loan does not generally have to be repaid un-til the last surviving owner moves out, sells or dies. At that time, the lender will sell the home to pay off the reverse mortgage.

Types of reverse mortgagesHome equity conversion mortgage — This

is a reverse mortgage that’s insured by the Fed-eral Housing Administration. The homeowner must be at least 62 and live in the home. The homeowner must own the home outright, or have a low mortgage balance that can be paid off at closing time with proceeds from the re-verse loan.

Proprietary reverse mortgage — This is a private loan backed by commercial institutions, such as a bank, a mortgage company or other private lender. It’s generally more expensive than other types of reverse mortgages or tradi-tional home loans.

Single purpose reverse mortgage — This type of loan may be offered by a state or local government or a non-profit agency. The loan

■

■

■

may be restricted to specific types of home re-pairs, home improvements or paying property taxes. This is generally the least expensive of the three types of reverse mortgages.

If someone is inheriting your home, they must repay the loan in order to take possession. If the amount owed is equal to the home’s val-ue, your heirs would not inherit the home as it would revert to the lender. Also, with lump sum payments, the interest charges are added each month. Over time the total debt owed can far surpass the original loan. However, most mort-gages have a “nonrecourse” clause that pre-vents you or your estate from owing more than the value of your home when the loan becomes due, though if your heirs want to retain owner-ship, they generally must repay the loan in full, even if the total is more than the home’s value.

Understand your options. Know the benefits, costs and terms before entering into a reverse mortgage agreement. A reverse mortgage may not be your best option if you need a small amount of money for a limited time. It is im-portant to get good advice, look at your options and comparison shop. Always consider con-sulting with a lawyer or financial adviser.

Some agents may try to aggressively sell you a reverse mortgage. Beware of high-pressure sales tactics, so-called “educational seminars,” sales pitches that instill fear about nursing home finances and sales pitches tied to other invest-ments. Be wary of “mortgage consultants” who push for renovations or specific contractors.

Before applying for a home equity conversion mortgage, federal law requires that the bor-rower must meet with an independent govern-ment-approved housing counseling agency (in-formation at www.HUD.gov). A private lender may also require counseling.

You have the right to cancel within three busi-ness days after closing the loan. You must can-cel in writing. Send the letter by certified mail, and ask for a return receipt. Keep copies of all documents and letters. And be sure to contact the Consumer Protection Division immediately if you think you’ve been scammed.

Tom Miller

is attorney general for

Iowa. Contact him at (515) 281-6699.

tax tips for home businessesA variety of federal tax deductions can help an entrepreneur maintain and grow a home-based business. But the rules governing home-based business deductions aren’t always easy to understand, and require good record keeping. If you own and operate a home business, it would pay to learn all you can about home-based business tax deductions. Here are a few places on the Web with useful information:

ComPletetaX.Com: www.completetax.com/taxguide/text/c60s15d370.asp. Covers range of home office deduction topics, including qualifying for the deduction and home office depreciations.

■

FinanCial WeB : www.finweb.com/taxes/tax-tips-for-home-based-business-owners.html. Spotlights tax tips for home office and links to IRS forms.

inVestoPedia: www.investopedia.com/articles/pf/08/home-office-tax-deduction.asp Serves up criteria for qualifying home-office tax deductions.

internal reVenue serViCe: www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Home-Office-Deduction. Provides overview of rules and requirements for home office deductions.

■

■

■


BIZ BOOK

It seems everything Steve Jobs did became a sensation. That seemed to be true when his biography was released in November 2011 shortly after this icon’s death. I, like many, read the book to get a hint of understanding of this complex individual and the inner workings of Apple. Little did I know the book would also serve as a book on leadership, vision and passion.

The object of this new book column in Cedar Valley Business is not to serve as a typical book review but to share what local business leaders take away from their readings. In upcoming issues we’ll have community leaders share what they are reading, what they learned or what principles they applied from their reading experience.

Since Steve Jobs was Amazon’s bestselling book in 2011, it is not a bad book to start with. Isaacson had full access to Jobs, his friends, family and even enemies. It seems you either loved or hated the man. But there is no question almost everyone loves the products he created. Today the iPod, iPad and iPhone lead in sales of their respective niches. The book examines his start, his rise to fame, his failures, his products and his personality. Like anyone else, Steve Jobs had warts. The guy seemed to take credit for everything that crossed his desk and could chew and spit out spineless staffers better than anyone. It makes a reader sick how he treated co-workers and others. At the same time he was one of the most creative, detailed and imaginative individuals of our time. Many know the story of Jobs and Apple, but you might be interested in what I learned from his story.

Having read the book months ago, I’ve had time to reflect on what I could take away from Mr. Jobs. First, I would hope I would never treat people like Jobs did. He was arrogant and downright nasty. Yet he was an inventor and a creative genius. Unfortunately, we got his wonderful devices at the expense of some very fine people. I had to remind myself this wasn’t a book on how to treat others but about Jobs and his baby, Apple.

What I did learn was to believe in what you are doing. Jobs was a visionary. His communication style aside, he did tell people exactly what he wanted and inspected what he expected. He was honest when he didn’t like something and wouldn’t waste time on the subject of his disapproval.

To be successful, you have to put 100 percent of your effort into it. Jobs lived and breathed Apple. He had a knack for understanding consumer behavior. He seemed to be a master of reading trends and understanding what people wanted. His goal for the iPhone was simple: His goal was to make it simple for David Braton to make a phone call, listen to music, take a picture, check the weather or send email or text on one handheld device. He accomplished that goal and made a lot — I mean a lot — of money along the way.

What else did I learn? Not to stop at only one right idea and always, always look for ways to improve your product or service.

I’ll leave you with one final thought: In business we sometimes make things too complicated. Steve Jobs points out the best lessen of all in business:

Keep it simple.

Steve JobsAuthor: Walter IsaacsonPages: 656

Learning from Steve JobsDaviD Braton publisher, The Courier

CeDar vaLLey BuSineSS monthLy February 2013 �


One Sourcefor your Building Project

Design • Build • DetailsTurnkey Associates, L.C., is a single-source provider specializingin designing, building and furnishing financial institutions andcommercial buildings in Iowa and surrounding states. Foundedby owners Scott Voigt and Ross Schoonover in 2003, the firmprovides architecture, construction, interior design, furniture,security and signage services under one contract. Our successdepends on providing exceptional service and products at fairvalue. Our mission is to provide clients with the best product atthe best price.

MIDWEST ONE BANK EXTERIOR WITHAM AUTOMOTIVE EXTERIOR

3015 Greyhound DriveWaterloo, IA 50701Phone: 319-232-4242

www.tkawb.com

FINANCIALPLANNINGFINANCIALPLANNINGENTIREFAMILYENTIREFAMILY

FORFORYOURYOUR

Whether you’re a small business owner, evaluatingyour estate planning strategies, or sending your kids tocollege, we can help you plan to reach your financialgoals through personal, customized financial planning.

Larry K. Fox & AssociatesA financial advisory practice of Ameriprise Financial Services, Inc.

3404 Midway Drive, Waterloo • Phone: 319-234-7000 • larrykfox.com

Ameriprise Financial cannot guarantee future financial results. • Ameriprise Financial Services, Inc., Member FINRA and SIPC.

tech watch

Think strategically about social mediaWith the start of a new

year, many of you may be looking at your

company’s social media strategy and wondering if you are doing enough. Let’s talk about three con-cepts that we will expand upon in future columns: think strategically about how you use social media,

think about how to expand your presence on so-cial media and think mobile with downloading so-cial media apps to your smart phone or tablet.

When you think strategi-cally about your social media use, you make deci-sions about re-sources, and look for ways to maxi-mize web traffic to your compa-ny website. You may also think about expanding your presence on social media, and go beyond

Facebook and Twitter: Consider creating an account on Pinterest and starting a microblog on Tum-blr. Recognize that there are apps for every social media website, and you can use your smart phone or tablet to take pictures and cre-ate content that you can post from anywhere.

Most companies still rightly think of Facebook when they think about social media. A recent survey done by Vertical Response, an online marketing firm, reveals that 90 per-cent of the 500 small businesses surveyed have a Facebook page and 70 percent are on Twitter. Ap-proximately half of the businesses survey have embraced Google+, but not as many of them are on Pinterest.

The survey also showed that 55 percent of companies are spend-ing more time on social media than a year ago, that over half have a blog and the biggest task is creat-ing content. However, even with

increased budgets, not all of those small businesses are analyzing the results of their efforts — using soft-ware like Google Analytics or hir-ing companies to analyze the data.

You can view an infographic that highlights other key facts from the survey at http://tinyurl.com/d4u7h8u)

So, how can you use this infor-mation? When you set up your company Facebook page, your strategy may have been simple: Get your small business noticed. You may have asked customers to “like” your page or assigned an employ-ee to post updates regarding spe-cial events a few times a year. Now you want to take it to the next level, but do not have the budget or staff-ing to devote too many resourc-es on something you may not fully understand. You are not alone, as the sur-vey revealed.

To design your strategy, consider your audience, your current social media use and your goals. What do you want to accomplish? My husband contributes to Facebook pages for several organizations and has discovered two strategies: First, post multiple times each

10 FebRuaRy 2013 Cedar Valley Business monthly

Cherie Dargan

is associate professor of

communications at Hawkeye Community College in Waterloo.

Contact her at 296-4000, ext. 1701, or

cherie.dargan@hawkeyecollege.

edu.

Quick referencesGahran, Amy. A Quick Guide

to Tumblr. July 30, 2012. www.entrepreneur.com/article/224084

Martin, James. Guide to Pinterest for small business. March 13, 2012. http://tinyurl.com/cysj3em

Needleman, Sarah. What’s a Facebook Follower Worth? Oct. 11, 2012. http://tinyurl.com/ch2o4qx

Tice, Carol. Small Businesses Don’t Have Time for Social Media -- and Don’t Track Results. October 31, 2012. http://tinyurl.com/d4u7h8u

■

■

■

■


My husband wants to boost at-tendance at special events. For ex-ample, he posted an album with pic-tures of the Waterloo library’s new Lincoln exhibit and paid a modest fee of $7 to promote it with Water-loo residents on Facebook. Within one day, he got 28 or 29 shares, meaning that other users were posting the album on their walls — which meant their friends also saw it. Eventually he saw a 6,000 percent jump in people checking out the WPL Facebook page. He was impressed with the range of options for promoting posts: you can select an audience based on numerous factors, both geographic and demographic.

Analyze your target audience and match them with the social media tool that best meets that profile. For example, do you target women in your marketing? Since almost 70 percent of its users are female, you need to be on Pinterest. In addition, Pinterest is a visual scrapbook and especially useful for companies that have a tangible product—such as cupcakes, flower arrangements, vintage clothing and menu items.

To be effective on Pinterest, tech-nology writer James Martin advises using descriptive tags to help oth-ers with similar interests find you. Name your board after your prod-uct lines or services. “Like” or repin when you find something you like on another board. And be sure to

put your com-p a n y ’ s

U R L i n

your profile. Martin also says to post pictures on your own website first, and then pin those pictures on Pinterest to drive traffic back to your site.

Another social media site that you might consider is Tumblr, which is both a microblogging tool — suit-able for posting short chunks of text, pictures, web links and more — and a social media tool in that you can follow other people on Tumblr. If you do not already have a website or blog, Tumblr could be your answer. A big advantage of Tumblr over Facebook is that posts on Tumblr are included in search engine results. In addition, about half of users on Tumblr are 25 or younger. If you are targeting young people, it is a great fit.

I was an early adopter of Tumblr, creating my account in 2008, and I met Tumblr’s vice president at a technology conference last year. I use Tumblr for my educational tech-nology class, posting links to ar-ticles, infographics, and education resources. I post pictures and share insights about our iPad cart or oth-er projects. It is highly customizable and template driven: chose your posts from several formats includ-ing text, photo, quote, web link, au-dio or video clip. For busy profes-sionals without dedicated staff to maintain a blog, it works well.

Pinterest and Tumblr both offer help for businesses and profession-als alike: Look for it under the ques-tion mark on Tumblr and check un-der “about” on Pinterest. You can also set up both accounts to share your posts on Facebook or Twit-ter. You can also use your Facebook or Twitter credentials to log on to Pinterest.

I will talk more about using social media to promote your

company with social media apps, as well as the tools

needed to analyze your effectiveness on so-

cial media, in fu-ture columns.

SHUTTERSTOCK IMAGE

Cedar Valley Business monthly FebRuaRy 2013 11


Providing Third PartyIntegrated Logistics, PublicWarehousing JIT Services,

Trucking, and Reclaim Service

324 Duryea Street •Waterloo, IA 50701Phone: 319-236-0467 • Fax: 319-274-8308

www.wwscusa.com

12 FebRuARy 2013 Cedar Valley Business monthly

mARketing

Marketing strategy should be important part of business plan

December was National Write a Business Plan Month — so designated to encour-age unhappy employees to become

their own satisfied bosses. Whether your goal is to own your own business, become a consul-tant, a speaker or an author, you’ll need to start with a business plan.

Even if you launched your business years ago, it’s important to revisit and refresh

your plan. In recent years, the economy, technology and consumer habits have changed rapidly and dra-matically, affecting every as-pect of your business. That makes it absolutely vital to re-evaluate your short- and long-term strategies.

One of the most critical el-ements of any business plan is your marketing strategy. Too often, people don’t think through that all-important component with the same rigor they tackle aspects like projected cash flow and long-term goals.

Or, they do put thought and effort into planning for market research, promotion and positioning — and then

never follow through on their great ideas.One problem is that most entrepreneurs (or

professionals or authors) don’t have market-ing experience. They may be skilled trades-men, savvy financial advisers or talented writers — the expertise they plan to build their business around — but they’re not mar-keters. Some don’t realize that executing a solid marketing strategy is essential to any venture’s success; others know it’s important but don’t know where to begin.

Here’s why it’s so important: You may have the book that changes the way business is done or the product that solves a problem for lots of consumers, but if no one knows about it, they can’t come looking for it. Marketing is the fundamental building block of any busi-ness; it’s what drives the business, so it can’t be an afterthought.

The marketing component of your busi-ness plan should include a budget for time (if you’re going to tackle the job yourself) and/or money. You need a timetable and a pro-fessional website that attracts visitors and makes it easy for them to learn more about you, your product, book or service — and equally easy to purchase what you’re selling.

Here are some other points to consider as you’re developing your marketing plan:

What is my message? Your message needs to be more than “My product is great.” ■

What’s the problem it solves? If you’re a pro-fessional, what’s the value you and your ser-vice offer? How are you different from your competition?

Who is my audience? Unless you have a niche product, consider your potential audi-ence in terms of ever-expanding ripples. For instance, a collapsible coffeepot may be just the thing for a college student’s tiny dorm room. That’s your initial target audience. But his parents and grandparents, who are helping outfit that dorm room, might also be audiences. If they’ve downsized their liv-ing quarters, they might just want one for themselves, too. In fact, it could be great for campers, boaters — anyone living in a small space.

Which are the appropriate media outlets for a PR campaign? Social media is great for niche products because online forums build communities around common interests. Day-time TV talk shows tend to have audiences with lots of women. Most newspaper read-ers are now 55 or older. Once you have de-cided who your audience is, figure out what they’re watching, listening to, reading, and doing online, then customize your message for that medium and audience.

What’s your budget? When you’ve an-swered these questions, you should be able to determine how much marketing you can do yourself (if you’ll be doing any at all) and how much you’ll need help with. If you’re handling it yourself, budget for the time it will take to do things like keeping your web-site active with fresh blog posts once or twice a week; posting content on social media; de-veloping pitches to get print, radio or TV in-terested. If you plan to pay a professional for marketing services, use your marketing plan to explore the costs and timetable, and bud-get accordingly.

Whether you’re launching a dream or strengthening your existing business, you need to lay a good foundation with a solid plan. If marketing isn’t an important compo-nent of that plan, your rocket to the moon will likely fizzle and fade.

■

■

■

Marsha Friedman

is CEO of EMSI Public Relations , a 22-year veteran

of the public relations industry.

She can be reached at www.

emsincorporated.com.

SHUTTERSTOCK IMAGE


For ev

er.

o

For god .

FOUNDATIONCOMMUNITY

of Northeast IowaEstablished in Waterloo/Cedar Falls in 1956

www.cfneia.org � (319) 287-9106425 Cedar St., Ste. 310 �Waterloo 50701

For good. For ever.

Helping youhelp yourcommunity.

Complete Professional Garment Care

ORDERS OF $15OR MORE

15%OFFEXCLUDES REPAIRS/ALTERATIONS AND HOUSEHOLD ITEMS

EXPIRES 2/28/13.NOT VALID WITH OTHER DISCOUNTS.

COUPON MUST ACCOMPANY INCOMING ORDERS

2120 Kimball Avenue | Waterloo11th & Commerical | Waterloo4th & Washington | Cedar Falls

www.varsitycleaners.com319.233.3571

management

Senior leadership may be your most precious resource W ith many of us today choosing

to be connected 24/7 via mo-bile devices, the ability to pru-

dently manage the barrage of inputs vying for our attention is key. This becomes ever more critical as the degree of personal dis-cretion increases on how one spends time on the job. It’s considerably more important that a sales manager is skilled at prioritizing

than an assembly line work-er whose shift is essentially planned for them by the work arriving in their respective workstation.

Thus, the epitome of a per-son requiring super time management and prioritiza-tion skills is the senior leader and especially the leader of a startup. It’s tough enough raising capital for a startup, and there’s an infinite amount of capital in the world. Try borrowing time. We each get 24 hours per day. Period.

By definition, startup lead-ers are faced with the time management perfect storm:

An almost infinite list of activities they could work on to grow their business.

A bulls-eye on their back in terms of others wanting a piece of their attention. For example, an army of sales-

persons demanding to extol the virtues of their product or service (each of which will no doubt practically ensure the success of their business)

Little guidance from others on personal time decisions (there no longer is a boss they can ask for advice; they are the boss).

Fortunately, the late Stephen Covey left us with a treasure chest of principles for mas-tering our time, both at work and at home. While library shelves of books exist on how to get more done in a given amount of time (efficiency), Covey’s classic, “First Things First,” is devoted to selecting the most im-portant things to accomplish (effectiveness). It’s must reading for anyone who has ever longed for the 25th hour in a day.

Covey’s basic premise is that effectiveness trumps efficiency when it comes to time management. It’s ludicrous to spend time improving the efficiency of a task which doesn’t have to be done in the first place. Thus, the first step is to determine what has to be accomplished.

So how does one determine and priori-tize what is most important? It starts with

■

■

■

creating a plan that includes setting specific goals.

Unfortunately, in life and in business we cannot simply do goals. Typically we can only complete activities which make a goal attainable … saving for retirement, practic-ing a musical instrument to reach a certain level of expertise, or training to finish a race in a specific time.

By defining and prioritizing the detailed activities which most strongly support com-pany goals — or personal goals in terms of our time away from work — we can deter-mine how to make the most effective use of our available time. These top priorities therefore need to be scheduled with specific times carved out for them on our calendar. Covey lobbies for this exercise of identify-ing and scheduling the most important tasks (what he calls the “big rocks”) to become a weekly habit.

Creating this proactive plan, prior to en-tering the daily battle, puts us in a position to make much wiser time management choices. But let’s be honest, the world doesn’t give a rip about our proactive plan. That caller wants 15 minutes of your time right now to explain why a listing in the Yellow Pages is the answer to your sales prayers.

Covey explains that the demands for our time can be classified by two factors, impor-tance and urgency. He places time demands in four different quadrants:

Quadrant I — Important and urgent (re-sponding to a key customer’s complaint).

Quadrant II — Important but not urgent (creating a strategic plan).

Quadrant III — Not important but urgent (responding to a phone survey during elec-tion season).

Quadrant IV — Not important and not ur-gent (reading every email received).

We want importance and not urgency to be the primary drivers in how we spend our time. But urgency possesses an alluring si-ren call, frequently suckering us to believe a demand is also important (Quadrant I) when it is really just urgent (Quadrant III).

Covey’s research shows that top perform-ing organizations spend a significantly high-er percentage of time in Quadrants I and II, in the high importance region. As a leader, that’s where you need to be too.

■

■

■

■

Rick Brimeyer

is the president of Brimeyer

LLC, an independent management

consulting firm located

in Ames. Contact him at (515) 450-8855 or rick@brimeyerllc.

com.

Cedar Valley Business monthly FebRuaRy 2013 13

Covey’s basic premise is that effectiveness trumps efficiency when

it comes to time management.


Bill McInteeInvestment Advisor Representative

Specializing In:• Life Insurance• Disability Insurance• Retirement Planning• Business Planning

Investment Advisor Representative with and Securities and InvestmentAdvisory Services offered through Transamerica Financial Advisors,Inc. (TFA) Member FINRA, SIPC and Registered Investment Advisor.

Non-securities products and services are not offered through TFA.TFA and Financial Decisions Group are not affiliated.

800-262-0159www.fdg.net

3013 Greyhound Drive,Waterloo, IA 50701

LD045640-1/13

What youneed for yourbusiness.

Electrical

Lighting

KW Electric

recruiting

No drought in innovation at Cedar Valley businessesDespite the presence of profitable start-

ups on the Silicon Prairie, the real test is proving your culture and ecosystem

are just as equal — or superior — to those on the coasts. In many ways, young innovators have more opportunity here than in California. Attracting and retaining talent in Cedar Falls is no small feat — nor is it a new challenge. If you go to school here or are from the area, you typically leave after college.

At Banno, applicants had ap-plied at tech titans like Twitter, Facebook, Google and Linked-In, but chose to stay in the Cedar Valley. Like many area entrepreneurs, we’ve built an environment where new hires are involved in big problem- solving right away. Providing a culture where ideas from all employees are quickly applied to product and organizational challenges is crucial to keep-ing the best talent. Innovators want more than a to-do list or Gantt chart. We find that the most innovative talent wants

to do just that; innovate. If we are going to retain

the leading tal-

ent that is leaving the area we must articulate how they can make an instant impact.

Corralling talent is up to us, the startup, to prove that we have something special right here in the Cedar Valley. We must demon-strate how our culture and industries can hold their own. Knowing we all compete with larger organizations, a lot can be said for Fri-day afternoons when chances are you’ll find everyone (CEO included) drinking a beer and discussing company matters.

Lucky for us, local startups have the re-sources to network with and attract up-and-coming talent.

TechBrew, hosted monthly by the Technol-ogy Associate of Iowa, does an amazing job in connecting area startups. TechBrew is one of the easiest ways to get in front of other like-minded founders and employees. If you can drink beer and introduce yourself, you have a golden chance of learning who’s hiring. It’s the quickest way to get familiar with the local startup scene.

BarCamp has held two events this last year. For $5 you receive a full day of “un-con-ferencing” that lets you interact with all the startups, designers, tech folks and even inves-tors with local interests.

A handful of CEOs, in-

cluding me, spend time

as men-t o r s . B a n n o a n d o t h e r compa-

nies like Far Reach

have been around for a

handful of years now (we’re celebrating nu-

mero cinco in March) and make an effort to mentor less

seasoned startups, listening to new ideas and helping foster

those ideas into action. Founders here are some of the most encouraging entrepre-neurs around.

The point is, you needn’t go to New York or San Francisco. Great startups live in the Ce-dar Valley.

Local and national press have gotten behind our startup culture, enabling it to be more ac-ceptable to say “I’m going to go work for a startup in Cedar Falls. They’re working on some really big problems, and I want to be a part of that. I want to help change an indus-try.”

■

■

■

Wade Arnold

is CEO and founder of

Cedar Falls-based Banno,

a provider of custom-branded mobile

applications, websites and personalized

payment card services to financial institutions.

Contact him at (877) 884-3327.

14 FebruAry 2013 Cedar Valley Business monthly

SHU

TTE

RST

OC

K IM

AG

E


Thunder Ridge Mall, Lower West

PUT YOUR MONEYTO WORK FOR YOU NOW

319-277-1059 • 800-799-6357heartlandfinancial.net

2302 W 1st St. #120, Cedar Falls IA

Sail into your own...

Financial Freedom!Start planning today for you retirement.

��

Dave

Cedar Valley Business monthly february 2013 15

nonprofits

Mistakes to avoid for new nonprofitsStarting a nonprofit is challenging and

can be complicated, according to Desiree Adaway of the Adaway Group.

To start a nonprofit one needs a vision, for-titude, a clear mission and enough energy to

carry out the work necessary to get it off the ground.

Moving from one’s vision to a well-nourished nonprofit is a job for only the most orga-nized individuals. Many well-intentioned people start or-ganizations, but few make it happen without errors along the way. These mistakes of-ten cost them time, money, supporters or donors. Many worthy programs fail because they were not put together well. When failure takes place it is the community and cli-ents that bear the brunt. Hav-ing passion for your vision is not enough.

These questions should be evaluated:Is there a need for your organization in your

community? Are other organizations doing the same job? Partnering can be a great way to learn lessons from others already doing the job. Do your clients really have a need? What do the statistics show? Do your research. Funders want to see data as you build your case. Once you have the data then ask: Is a nonprofit the best business structure for your idea?

It is harder to start a nonprofit than a busi-

■

■

ness. The process of incorporating and apply-ing for tax-exempt status with the IRS involves a mountain of paperwork. It also requires a good attorney. Be realistic about what is involved and the time it will take to create a healthy organiza-tion.

Create a real board of directors — not one in name only. A board can make or break a new nonprofit. Board members should be indi-viduals with resources, influence and contacts to move the mission forward. They should be-lieve in the mission and join because they are passionate about it. They should be excited about sharing the mission with others and must be educated about their responsibility as a board member. They should be able to do the hard work, and including fundraising. They should be able to open doors, share skills and guide the executive director. Have a real strat-egy for board recruitment, development and governance.

How will you fund your organization? Many founders cannot anticipate what it will cost to start a nonprofit. Money and resources are needed before any clients can be served. Every nonprofit startup needs a funding plan. Will services will be available for a fee or for free? Plan how to finance the work — including your own salary. What about accounting? Without a realistic funding plan a nonprofit can’t sustain itself. Many nonprofits fail for of lack of plan-ning. A nonprofit with a weak funding and de-velopment strategy may never succeed.

Serving others is the highest calling, but to serve, one must be well-organized.

■

■

Anne Nass is

communications coordinator for the Volunteer

Center of Cedar Valley. Contact

her at 272-2087.

health, high-tech will be hot jobs in 2013The Kansas City Star Looking for the hot jobs next year? Trend watchers say health care will continue to be the hottest sector, but that doesn’t mean you have to be a hands-on care giver.

Options include working in health insurance, translation service, information technology, or support services, be they administrative, sales, janitorial or transportation.

Tracey Wilen-Daugenti, managing director at the Apollo Research Institute, says health reform is driving job growth, but other industries expect growth, too. She picks:

eduCation: An explosion in online classes from brick-and-mortar universities and distance-learning schools offers a gold mine of teaching options. Generally, master’s degrees are required for higher education, but Wilen-Daugenti noted that certification programs for some jobs may not require advanced degrees for instructors. K-12 tutoring programs and education-oriented call centers are growing, too.

GeriatriCs: Aging baby boomers create opportunities in the life care industry, serving growing numbers of people who age in their own homes or live in life-care facilities Wilen-Daugenti said she’s seeing workers in their 60s who

■

■

are planning “encore careers,” building on current skills or interests to focus on serving the aging population. There could be a bonus in that: Older workers may be less likely to encounter age discrimination in hiring if their client base is older, too.

stem: Get used to the acronym for science, technology, engineering and math. Wilen-Daugenti said those sectors are begging for talent, but 75 percent of all growth jobs require computer skills. The ubiquity of computer jobs, she notes, is a plus for people who’d like to work from home. And that ties to another trend she sees of tech-savvy women blending motherhood with home-based programming or other IT work. The overarching trend for 2013, she said, is the “intertwining of work and education.” Fast-paced change in technology and global markets mean you’re never done learning — at least if you want to continue to advance in your profession. Diane Stafford is the workplace and careers columnist at The Kansas City Star. Her “Your Job” blog at economy.kansascity.com includes daily posts about job-related issues of wide interest. Readers may write to her at: Kansas City Star, 1729 Grand Blvd., Kansas City, Mo. 64108-1413, or by email at [email protected].

■

215 Franklin St., Cedar Falls

•2 Story Historic Office/RetailBuilding

•Near Downtown Cedar Falls•2,668 Sq. Ft.•Beautiful New Exterior Paint

Jim Sulentic Sulentic FischelsCommercial Group 215-5000 2027 Crossroads Blvd., Waterloo

•For Lease•Multi Tenant Strip Mall•1,500-5,000 Sq. Ft. Available•Great Signage and Visibility

Chris Fischels, Sulentic FischelsCommercial Group 830-5000

56 Units/For Sale

• Boone, IA. Brick Mid-riseBuilding

• Many Recent Updates. AlwaysRented

• HUGE Cash Flow

Jack Nooren, Sulentic FischelsCommercial Group 230-5000 419 Main St., Cedar Falls

•Final Wasendorf CommercialProperty

•Former MyVerona Restaurant•2 Bars, 2 Kitchens•High End Finishes, 10,993Total Sq. Ft.

Matt Miehe Sulentic FischelsCommercial Group 269-6222

Sale:$325,000/Lease:$2,500 Gross

$28.00NNN

$995,000

We are available to support

employers and their staff when

faced with illness, death & grief.

it’s about living

because

319.272.2002 :: cvhospice.orgwaterloo . independence . grundy center . waverly . hospice home

ask the questions.

make the call.

Some brands gone, but not forgotten

16 february 2013 Cedar Valley Business monthly

Twenty-five years ago, a new kind of sparkling water called Clearly Canadian hit

store shelves.In such flavors as Orchard Peach

and Western Loganberry, the drink soon was raking in $150 million a year in sales. But in the face of growing competition, Clearly Ca-nadian began to fade. By the early 2000s it had all but disappeared.

Enter Mark Thomann.Early last year, the Chicago in-

vestor bought the Clearly Canadi-an name, hired a marketing team, contracted a bottler and hammered out a distribution deal to get the drinks back into U.S. supermarkets starting in March.

Thomann is making a bet that enough people remember Clearly Canadian to try it again. He’s one of a growing group of entrepreneurs who specialize in digging through the graveyard of consumerism in search of zombie brands that can be revived.

“We believe we can make Clear-ly Canadian valuable again,” said Thomann, chief executive of River West Brands, whose stable of re-suscitated brands includes Coleco games and Underalls pantyhose.

Rebooting old names makes sense in a market crammed with products vying for consumers’ at-tention; building a new brand can cost millions in advertising and there’s no guarantee of success. But for as little as a $275 fee to the U.S. Patent & Trademark Office, one can buy a brand that, albeit dusty, is already familiar to millions of potential customers.

“It’s very difficult to get a new brand established in today’s mar-ketplace,” said Tim Calkins, a pro-fessor of marketing at Northwest-ern University’s Kellogg School of Management. “So if you start with some brand awareness, it can be an advantage.”

These trademark trolls scour brand registration databases, clip old magazine ads and interview consumers about beloved brands of their youth. Such efforts have brought back Polaroid, Eagle Snacks and the Sharper Image in recent years.

Attorney Kenny Wiesen revived Bonomo’s Turkish Taffy because he

missed his favorite childhood can-dy. He discovered the trademark was held by Tootsie Roll, which quit making the thin, chewy bars in the 1980s. It took several years, a lawsuit and about $100,000, but eventually Wiesen snagged the

Bonomo’s Turkish Taffy brand.That was the easy part. Wiesen

and a partner then spent several years tracking down the recipe, re-lying in part on the memories of an 89-year-old candy chemist. Then they had to find a factory to pro-duce it.

The candy finally hit the market in 2010. Today Wiesen produces about 8 million bars a year dis-tributed to 10,000 stores nation-wide. “It’s profitable,” said Wiesen, of Carle Place, N.Y., who has ac-quired other brands he wants to bring back, including Regal Crown Sours hard candies. “But it’s not explosively profitable.”

Experts say old candy and soft drinks hold particular appeal; con-sumers are nostalgic for foods they ate as kids. But that can also be a pitfall.

Kassoff, an executive recruiter, has made a full-time business of buying and updating defunct brands, in-cluding Leaf, which he purchased in 2011 with the idea of reviving a full lineup of classic candies.

Last summer, the company rein-troduced Astro Pop, a cone-shaped lollipop invented in the 1960s by a pair of California rocket scientists that went out of production in 2004. It’s also selling David’s Signa-ture Beyond Gourmet Jelly Beans, another brand Kassoff rescued.

Although Kassoff has purchased some old brands, others he has ac-quired for almost nothing thanks to a process known as abandon-ment. Under federal law, a trade-mark is considered abandoned if it hasn’t been used for three years. After that, anyone can argue they should be able to use it exclusively and receive legal trademark pro-tection benefits.

“It’s very difficult to get a new brand established in

today’s marketplace.”

Ken BensinGer Los Angeles Times


&��

ONE THING YOU CAN PREDICT...

��

��

��

��

��

��

��

��

FSB Trust

Building Your Success

ServicesMEMBER FDIC

The future will be unpredictable.

MAKE SENSE OF YOUR FINANCES

Alliance & Chamber NEWSLETTERwww.cedarvalleyalliance.com

Welcome NEWInvestors/Members

Asset Factoring, LLC619 E. 19th St.Cedar Falls, IA 50613Phone: (319) 553-0058Fax: (319) 277-9360 Contact: Cory KellyWeb: www.assetfactoring.com Category: Collection/CreditReporting

Blue Zones ProjectCedar Falls1500 Bluff St. Cedar Falls, IA 50613Phone: (319) 883-1578 Contact: Sue BeachWeb: www.bluezonesproject.com Category:Associations/Organizations

Blue Zones – Waterloo620 Mulberry St.Waterloo, IA 50703Phone: (319) 883-1476 Contact: Sue BeachWeb: www.bluezonesproject.com Category:Associations/Organizations

Inclusion Connection1024 7th Ave. NW Waverly, IA 50677Phone: (319) 215-8423 Fax: (319) 352-3087 Contact: Kayleen Symmondswww.inclusionconnection.org Category: Human Services Organization

McDonald’s 610 W. 1st St. Cedar Falls, IA 50613Contact: Matt HoranCategory: Restaurants/ Bars/Caterers

McDonald’s 2515 Main St. Cedar Falls, IA 50613Contact: Karla BuchholzCategory: Restaurants/Bars/Caterers

McDonald’s 1010 S. Grand Ave., Ste. 4 Charles City, IA 50616 Phone: (641)228-2838 Fax: (641) 228-5370 Contact: Sheryl JefferyCategory: Restaurants/Bars/Caterers

*The Alliance & Chamber has approximately 900 Investor/Members representing over 50,000 employees

Annual Celebration –Thursday, March 7, 2013 @ 6:00 pm

Five Sullivan Brothers Convention Center

The Alliance & Chamber offer this yearly gathering to recognize individuals, businesses and organizations. The event is attended by over 500 individuals including Cedar Valley community business leaders and area elected officials. The evening event includes a Social Hour from 6:00 -7:00p.m., followed by dinner from 7:00 – 7:45; Annual Awards presentation 7:45—8:45 followed by dessert/coffee bar, social and networking.

For ticket or corporate table information,please contact Bette Wubbena319-232-1156 or [email protected] deadline is February 28th.

Strictly Business Expo Tuesday April 02, 2013 @ 4:00 pmPark Place Event Center, 1521 Technology Parkway, Cedar Falls please contact Bette Wubbena 319-232-1156 or [email protected].

Talent Connect Job FairThursday February 28, 2013 @ 2:00 pm

Five Sullivan Brothers Convention Center, 205 W. 4th St., Waterloo

Premier Sponsor

Gold Sponsor

Premier Sponsor

Dessert Sponsor: StruXture Architects, MidWestOne BankEntertainment Sponsor: Wells Fargo Bank, N.A.Program Sponsor: Tyson Fresh MeatsSocial Hour Sponsor: The CBE Group, Inc., Witham Auto Center

...working to increase

economic vitality and wealth in the

Cedar Valley

economic region.

Join the GCVAC! Learn how you can benefit! Contact Bette Wubbena at (319) 232-1156 or [email protected].

Good Morning Cedar Valley

Thursday March 14, 2013 @ 7:30-9:00 amHawkeye Community College - Tama Hall 1501 E Orange Rd, Waterloo, IA

to RSVP, please contact Bette Wubbena 319-232-1156 or [email protected]. Reservation deadline is March 7th.

Be a part of something GREATER!

Up Coming EVENTSFEB 06 NE Iowa ManufacturingConference Hawkeye Community College - Tama Hall ( Room 107 A/B ), 1501 E Orange Rd., Waterloo, IA at 8:30 AM. Contact: Brittany Jungck.

FEB 07Work the Valley Bus Tour Inititative designed to encourage young professional talent to consider a career in the Cedar Valley. In partnership with UNI Career services. Contact: Brittany Jungck.

TechBrew Cedar ValleyToads Bar & Grill, 204 Main St., Cedar Falls, IA at 5:00 PM.

FEB 08 TBDFriday ForumLegislative UpdateFive Sullivan Brothers Convention Center, 205 W 4th St., Waterloo, IA. 7:30-9:00 AM.Contact: Steve Firman.

FEB 19 Legislative Session ReceptionRenaissance Savery Hotel, 401 Locust St., Des Moines, IA at 5:00 PM. Contact: Steve Firman.

FEB 21 Cedar Valley Young Professionals - Thirst Third ThursdayPeppers Grill and Sports Pub, 620 E. 18th St., Cedar Falls, IA at 5:00 PM.

FEB 28 Talent Connect Job Fair Five Sullivan Brothers Convention Center, 205 W 4th St., Waterloo, IA at 2:00 PM.Contact: Brittany Jungck.

MAR 05Talent Tells All Hilton Garden Inn, 7213 Nordic Dr., Cedar Falls, IA 10:00 AM-Noon.This Talent Tells All event will turn the tables and allow employers to take part in a discussion with young professionals (UNI alumni and students) who have decided that another community had more ideal conditions for career placement and advancement.Contact: Brittany Jungck.

MAR 07 Annual Celebrationat Five Sullivan Brothers Convention Center, 205 W 4th St., Waterloo, IA at 6:00 PM.Contact: Bette Wubbena.

MARCH 08Friday ForumLegislative UpdateFive Sullivan Brothers Convention Center, 205 W 4th St., Waterloo, IA7:30-9:00 AM. Contact: Steve Firman.

MAR 13 ABI Legislative Briefing& ReceptionDowntown Marriot, 700 Grand Ave., at 3:45 PM. Contact: Steve Firman.

MAR 14Good Morning Cedar ValleyHawkeye Community College - Tama Hall 1501 E Orange Rd, Waterloo, IA at 7:30-9:00 AM. Contact: Bette Wubbena.Reservation deadline is March 7th.

APR 02 Strictly Business ExpoPark Place Event Center, 1521 Technology Parkway, Cedar Falls at 4:00 PM. Contact Bette Wubbena at 319-232-1156 or [email protected].

Premier Sponsor Gold Sponsor

Business After Hours: Courier CommunicationsExhibitor Exchange: Waterloo Convention & Visitors BureauBeverage Sponsor: Nagle Signs

Over 50 Businesses

RSVP on the events calendar at www.cedarvalleyalliance.com.

For more information please contact:[email protected]

Gold Sponsor


1808 East Street . Cedar FallsPhone: 277-2385 or 1-888-652-8316 . Fax: 266-4057

www.coverall-embroidery.com

Serving the Cedar Valley for Over 30 Years

Free Catalog Available!

Contact us for CorporateWearables & Workwear.

Allied Insurance is pleased to announce thatThe Sinnott Agency, Inc, of Waterloo, Iowa, hasrecently achieved On Your Side Certification

in accordance withthe company’s rigorous program standards.

By becoming certified, The Sinnott Agency hasdemonstrated its commitment to going

the extra mile in helpingmeet each clients’ insurance needs.

The Sinnott Agency, Inc.is designated as the onlyCedar Valley insuranceagency to achieve the OnYour Side Certificationfrom Allied Insurance

www.sinnottagency.com622 West 4th Street, Waterloo, IA

319-233-6103

maplelaneswaterlookingpinbarandgrill

Comebowling this year!

Newly Remodeled Sports BarLocated Inside Maple Lanes!

TeamBuil

ders

Group Bu

ffets

Holiday

Parties

Party Ro

om

2608 University Ave •Waterloowww.maplelaneswaterloo.com

Courage was first step for these entrepreneurs

Char Reed believes the universe pushed her into starting a small business of drawing digi-tal pet caricatures after her car sputtered out as she drove home from work.

That unforeseen circumstance led Reed to be-come an unintentional entrepreneur.

Entrepreneurship rates in the past 15 years peaked in 2009 and 2010 at 340 per 100,000 adults, according to the 2011 Kauffman Index of Entrepreneurial Activity, which tracks the country’s new businesses.

That rate declined in 2011 to 320 per 100,000 adults.

More people turned to self-employment dur-ing the recession, said Dane Stangler, direc-tor of entrepreneurship for the Ewing Marion Kauffman Foundation, which maintains the an-nual index.

“Mostly it is people who were laid off and in some cases people who were worried that they were going to be laid off,” said Fred Ge-barowski, director of the Small Business Center at Wake Tech Community College in Cary, N.C.

Lately, more businesses have been started by people who are tired of a job in which they have taken on additional responsibilities, Gebarows-ki said.

Like Reed, Carlo Matos and Aaron and Nata-lie Miller became entrepreneurs after unexpect-ed circumstances compelled them to start their own businesses.

Here are their stories.

Facebook boosts portraitsIn August, Char Reed, 28, received an email

from a Massachusetts man seeking to commis-sion a portrait of his St. Bernard. He had dis-covered Reed’s 2-year-old graphic design and fantasy genre website, which included her pet caricatures. Reed’s car died a week later.

“With the car situation, that was the little push,” Reed said. A push that convinced her to quit her part-time job at a Michaels arts and crafts store — which required a 30-minute com-mute — move in with her parents and focus on building a business around her illustrations.

Reed reworked her Pet Pics website and met with Gebarowski, who advised her to focus her marketing, develop passive income oppor-tunities and target existing customers with a variety of services.

Reed found marketing success through a free Facebook advertising promotion. In the first two weeks, her page “likes” went from 40 to 300.

Reed, who is now making the equivalent of her part-time Michaels salary, was swamped with the holiday rush but is already planning a Super Bowl promotion.

“I could draw your dog or your cat wearing a jersey or a hat, something like that,” Reed said.

Starting over in ITCarlo Matos knew what was coming when

his boss approached him during a 2009 round of layoffs at IBM. After more than a decade with the company, the software engineer lost his job.

“When he told me, it was surprisingly hard,” said Matos, 40, who made about $90,000 annu-ally. “Ten years of your life. You have friends there. You have colleagues. It wasn’t easy.”

Matos called his friend John Brantly, who had tried to get Matos to buy into Batchnet, a company that provides computer support ser-vices to small businesses. Using savings, Matos became co-owner and the second employee of the business. For Matos, the reality of owning a business quickly sunk in.

“The added responsibilities of actually run-ning the business, that is the big challenge,” Matos said. “The administrative part, trying to market the company, sales.”

In 2011, Matos made about $40,000, he said. But in 2012, Brantly, who was the salesperson of the two, called it quits.

So Matos, a father of two, started practicing his customer spiel and carried an outline so he didn’t forget anything.

“I keep my head above water,” Matos said. “I am much happier than I was at IBM.”

They built it themselvesNatalie and Aaron Miller started Solid Build-

ers, a remodeling and construction business, after Aaron Miller, 39, was laid off from a con-struction company in 2003.

In the beginning, the business didn’t bring in enough money to support the family, Natalie Miller said.

“We survived because of my job and my in-come,” said Natalie Miller, a former marketing and event planner. “We lived simple lives and spent our money wisely.”

But Natalie Miller was able to save enough money to cover the family’s bills for 18 months.She quit her job in 2007 to build the business and to spend more time with her kids. The Mill-ers created a website, joined Internet directo-ries and a leads generation service, and mar-keted on social media.

Natalie Miller developed a project manage-ment process that involved tracking leads and making follow-up calls. She was also the sales-person and customer service representative.

“We saw improvements within the first month, and a huge improvement over a year,” Miller said.

20 february 2013 Cedar Valley BuSIneSS monThly

VIrgInIa Bridges The News & Observer (Raleigh, N.C.)

“The added responsibilities of actually running the business, that is

the big challenge.”


Contact LJ for all yourbusiness & personal travel needs

[email protected]

• Cruises

• Air TravelReservations

• Corporate Bookings• Vacation Packages

319-830-5963

Travel by LJ

Travel to Mexico, Alaska, Europe, the Caribbean

1705 Waterloo Rd., Cedar Falls

319-277-0100

Hoist & CraneInspection & RepairSales & Installation

Confined Space ServicesFan Inspection & Repair

Material HandlingSystems Installation

An Industr ia lS er v ices Prov ider

A Division of

finance

Don’t let emotions control decisions about retirement Retirement is one of the most emotional

and stressful life changes a person can face. The events that may come with re-

tirement — selling your home and re-locating, managing health issues and living on a fixed

income — can produce be-haviors that defy logic. But as you near retirement, making a snap decision is the last thing you want to do. Here are a few strategies to help you prepare for retirement in the midst of a fluctuating economy.

Think long-term about your retirement. It’s hard to resist being influenced by economic news and events, but the key is to let rational thinking rule your decision making when it comes to money. For example, if you experience a bad day at the office and you’re eligible to retire, you may decide to retire early. But taking a deep breath or sleeping on it will help you better think about the big pic-ture and usually leads to a bet-

ter solution. Thinking through each financial decision carefully, and getting objective advice from someone you trust, will empower you to make the best decision for your future.

Don’t become engrossed in day-to-day mar-ket activity. This one thing is certain: Markets rise and markets fall. If you are planning to re-tire or are in retirement, now is not the time to try and beat the market at its own game. To minimize the impact financial swings have on your retirement, determine your appropriate risk tolerance and stick to it. You can always adjust your portfolio, but try not to react in a panic at the sight of a market downturn. Con-sider working with a financial adviser who can help you identify investments that are appro-priate for your risk tolerance level to help you keep your financial goals and plans on track

■

■

despite economic swings.Consider contingency plans. It may be

counter-intuitive to think about the nega-tive what-if scenarios, but examining a pos-sible future without your spouse or thinking about how you would manage a life-threaten-ing health issue is especially important as you enter retirement. Along with these scenarios, consider how a major economic event like a recession or high inflation may impact your retirement savings. Then create a plan to pro-tect your financial security as much as pos-sible in these circumstances. By doing a bit of contingency planning now, you can make the best retirement decisions for you and your family members.

Anticipate what retirement looks like for you. Write down your thoughts about what will happen during an average week in your life as a retiree. Having a solid idea of what you picture your retirement to be like can lead you to maintain a calm mindset when you’re worried about your short-term finances. Working towards a few specific retirement lifestyle goals may help you stay focused on the long-term and avoid making emotional decisions with your money. To help with this, think about some goals you have for your re-tirement that don’t come with a large expense like volunteering or spending more time with your grandkids.

Don’t let your emotions push logic aside when planning and saving for retirement. Minimize highly emotional decisions by com-municating frequently with your spouse or other trusted confidante and consider working with a financial professional who can help you maintain a long-term vision of your current fi-nancial situation and goals for the future.

■

■

Larry K. Fox is a private

wealth adviser with Ameriprise Financial

Services Inc. in Waterloo.

Contact him at 234-7000.


IBM granted most U.S. patents for 20th year Bloomberg News

International Business Machines racked up more U.S. patents than any other company for the 20th straight year, helped by contributions from its researchers in other countries.

IBM’s 6,478 patents in 2012 mark a record for the company, research firm IFI Claims Pat-ent Services said in a statement. South Korea’s Samsung Electronics and Tokyo-based Canon ranked second and third.

About 30 percent of IBM’s patents were pro-duced by inventors outside the United States, up from 22 percent in 2010. Research centers

in Germany, Japan, Canada, Britain and Israel were especially productive, the Armonk, N.Y.-based company said. The percentage of its patents coming from overseas is expected to continue growing as newer labs in Brazil and Kenya ramp up, IBM officials said.

IBM’s flow of patents lets the computer-ser-vices giant produce about $1 billion a year in licensing revenue. Still, other companies get much higher royalty revenue from a smaller number of patents. Qualcomm, a designer of mobile-phone chips, made $6.33 billion in tech-nology licensing in the most recent fiscal year, even though it’s not in the top 10 of IFI’s list.

“If you are planning to retire or are in retirement, now is not the time to try and beat the market at its own game.

cvbusinessmonthly.com22 february 2013 Cedar Valley Business monthly

What corporate America is reading McClatchy Newspapers

800-CEO-READ, a leading di-rect supplier of book-based re-sources compiles a monthly list of best-selling business books based on purchases by its corporate cus-tomers nationwide. Here are the best sellers for December 2012, plus descriptions of the Top 10.

1. “Extreme Productivity: Boost Your Results, Reduce Your Hours” by Robert C. Pozen; HarperBusi-ness, 304 pages ($27.99).

2. “Selling with Noble Purpose: How to Drive Revenue and Do Work That Makes You Proud” by Lisa Earle McLeod; John Wiley & Sons, 231 pages ($22.95).

3. “Story of Purpose: The Path to Creating a Brighter Brand, a Greater Company, and a Lasting Legacy” by Joey Reiman, John Wiley & Sons, 238 pages ($27.95).

4. “The $10 Trillion Prize: Capti-vating the Newly Affluent in China and India” by Michael J. Silver-stein, Abheek Singhi, Carol Liao, David Michael and Simon Targett; Harvard Business Review Press, 336 pages ($30).

5. “Start at the End: How Compa-

nies Can Grow Bigger and Faster by Reversing Their Business Plan” by Dave Lavinsky; John Wiley & Sons, 240 pages ($22.95).

6. “Four Disciplines of Execution: Achieving Your Wildly Important Goals” by Chris McChesney, Sean Covey and Jim Huling; Free Press, 352 pages ($28).

7. “Energy Bus: 10 Rules to Fuel Your Life, Work, and Team with Positive Energy” by Jon Gordon; John Wiley & Sons, 192 pages ($21.95).

8. “Great by Choice: Uncer-tainty, Chaos, and Luck — Why Some Thrive Despite Them All” by Jim Collins and Morten T. Han-sen; HarperBusiness, 320 pages ($29.99).

9. “Positive Dog: A Story about the Power of Positivity” by Jon Gordon; John Wiley & Sons, 128 pages ($16.95).

10. “Start with Why: How Great Leaders Inspire Everyone to Take Action” by Simon Sinek; Portfolio, 256 pages ($15).

11. “Blah Blah Blah: What to Do When Words Don’t Work” by Dan Roam; Portfolio, 368 pages

($29.95).12. “Little Book of Talent: 52 Tips

for Improving Your Skills” by Dan-iel Coyle; Bantam, 160 pages ($18).

13. “Train Your Brain for Suc-cess: Read Smarter, Remember More, and Break Your Own Re-cords” by Roger Seip; John Wiley & Sons, 238 pages ($24.95).

14. “The Leader Who Had No Title: A Modern Fable on Real Success in Business and in Life” by Robin Sharma; Free Press, 224 pages ($15).

15. “Bargaining for Advantage: Negotiation Strategies for Reason-able People” by G. Richard Shell; Penguin Books, 320 pages ($17).

16. “Advantage: Why Organi-zational Health Trumps Every-thing Else in Business” by Patrick Lencioni; Jossey-Bass, 240 pages ($27.95).

17. “The Go-Giver: A Little Story about a Powerful Business Idea” by Bob Burg and John David Mann; Portfolio, 144 pages ($21.95).

18. “Beating the Global Odds: Successful Decision-Making in a Confused and Troubled World” by Paul A. Laudicina; John Wiley &

Sons, 206 pages ($34.95).19. “From Values to Action: The

Four Principles of Values-Based Leadership” by Harry M. Jansen Kraemer; Jossey-Bass, 224 pages ($27.95).

20. “The Quest: Energy, Security and the Remaking of the Modern World” by Daniel Yergin; Penguin Press, 816 pages ($37.95).

21. “The Art of Woo: Using Strategic Persuasion to Sell Your Ideas” by G. Richard Shell and Mario Moussa; Penguin Books, 320 pages ($16).

22. “Icarus Deception: How High Will You Fly?” by Seth Go-din; Portfolio, 256 pages ($24.95)

23. “Made to Stick: Why Some Ideas Survive and Others Die” by Chip Heath and Dan Heath; Ran-dom House, 291 pages ($26).

24. “Inbound Marketing: Get Found Using Google, Social Me-dia, and Blogs” by Brian Halligan and Dharmesh Shah; John Wiley & Sons, 256 pages ($24.95).

25. “It Worked for Me: In Life and Leadership” by Colin Powell and Tony Koltz; Harper, 304 pages ($27.99).


YOUR WINNING

TEAM

Registered Representative, Securities offered through Cambridge Investment Research, Inc.,a Broker/Dealer, Member FINRA/SIPC. Investment Advisor Representative, RDA FinancialNetwork, Inc., a Registered Investment Advisor. First Insurance Services, Cambridge and RDAFinancial Network are not affiliated.

Your Success is Our VictoryWhen you partner with the Accel Group for integratedfinancial and insurance solutions for your business, youtap into our staff’s decades of experience and expertise.We have the credentials, resources and know-how it takesto handle all of your financial needs, so you can spend yourtime doing what you do best—running your business.

Call us today at 800-369-3525 to see how personalizedservice from people you know and trust can accelerateyour success.

AccelAdvantage.com602 Main Street, Cedar Falls, IA 50613300 E. Bremer Avenue, P.O. Box 269, Waverly, IA 50677


Health care, growth are small businesses’top concerns in 2013

Small-business owners face many uncertainties as 2013 gathers momentum.

Here are two areas that experts say small-business owners should watch in the coming year.

HEALTH CARE: Small-busi-ness owners will need to make deci-sions related to health care reform and plan for its 2014 implementa-tion. Owners can also expect an in-crease in related fees and taxes.

“They are going to have to edu-cate themselves, plan for the im-pact and educate their employees as much as possible,” said Kevin Kuhlman, legislative affairs man-ager for the National Federation of Independent Business, which has more than 350,000 members. NFIB argued against the Patient Protec-tion and Affordable Care Act when Congress was considering it and was the prime litigant in the U.S. Supreme Court case in June.

The act requires that all Ameri-cans have minimal health care cov-erage by 2014 or pay a penalty. Em-ployers with 50 or more employees will have more responsibilities, but employers with fewer workers will also feel the impact, Kuhlman said.

In 2013, businesses will have to determine whether they fall in the “large” or “small” category for the employer mandate. A sole employ-er with multiple businesses that employ 50 or more full-time em-ployees will likely be counted as a large employer, Kuhlman said.

Businesses will also have to de-termine whether employees are full time or part time and apply a new counting requirement to determine an employer’s size. For example, if six employees work five hours per week, they will count as one full-time-equivalent employee.

David Crump, president of Em-ployee Benefits Consulting Co. in Raleigh, N.C., said as more infor-mation is released, large employ-ers need to take a close look at their group medical coverage and deter-mine how their rates will be affect-ed and whether it would be more affordable to pay a penalty and not provide insurance.

“Business people are always go-ing to do the math, and they are

going to do what costs them the least,” Crump said.

GROWTH OPPORTUNITIES: Small-business owners should ex-plore both conservative and opti-mistic scenarios in 2013, said Da-vid Grant, president of Raleigh SCORE, a nonprofit organization that offers free counseling to small businesses. Many business own-ers in recent years have tried to cut and manage costs, Grant said.

“People have to think a little dif-ferently as to how to start to grow again and get out of the mold of cost cutting,” Grant said.

Businesses also should think about expansion strategies, includ-ing improving customer service, incorporating social media and a mobile website.

“Tremendous opportunities” ex-ist in foreign markets for some small and midsize businesses, said David Robinson, special counsel for Nexsen Pruet, a Carolinas law firm that helps businesses with ex-porting. “More so than in previous years because some of the bigger players have retrenched and pulled back from markets. And so I think there is market share up for grabs for those that are nimble enough to pounce as the world recovers.”

Businesses also need to be mo-bile-ready, said Martin Brossman of Martin Brossman and Associ-ates, a Raleigh company that pro-vides business coaching and inte-grated Web marketing.

“If you have got to take your fingers and spread them out on a smartphone, it is not mobile-ready,” Brossman said.

Greg Lewis, a Raleigh-area chef and owner of Catering By Design, set up a mobile website for his business, and he plans another for his restaurant in 2013.

The site allows customers to find and contact him easily, Lewis said.

“It gets people to contact you; it gets people in the doors,” he said. “But once they are in the doors, you have to be able to perform.”

The News & Observer (Raleigh, N.C.)

“There is market share up for grabs for those that are nimble enough to pounce.”

Bruce ClarkBusiness Development Officer319-824-5431 � 800-545-0172 (toll free)

319-824-6795 (fax)

319-240-2511 (cell)

510 F AvenueGrundy Center, IA 50638www.gnbbank.com

www.expresspros.com

DO YOU HAVE AN ARMY OFSLEEPWALKERS?Employee disengagement costs employers $300 billionannually. Are your profits melting away because ofdisengaged workers?

��

��

��

mo

c.e

ga

gt

ro

MB

SL.

ww

w

moc.egagtroMBSL.wwwCIDF rebmeM - 7773-334 )913(

10705 AI ,oolretaW - 103 etiuS ,azalP emoH 999

etatsE laeR tsurT stnemtsevnI ecnarusnI gniknaB

�

Matthew DorsettBranch Manager

3823 University AvenueWaterloo, IA 50701

T: + 1-319-233-8473C: + 563-419-5761

[email protected]

Please contact Sheila Kernsto post your business card.

(319) 291-1448 [email protected]

The Overture Group

Lauri Lumm | ConsultantOffice 319.573.6685

[email protected]

4507 Algonquin Drive Suite C | Cedar Falls, IA 50613


business loans

AN I OWA O R I G I N A L .

515.289.1822 | www.veridiancu.org

Veridian Credit Union® offersgreat loan rates to help me savemoney and increase profit.

Federally insured by NCUA.

Equal Housing Lender.

Wacky gadgets at Consumer Electronics ShowThe Associated Press

Some of the weirdest gadgets at the International CES show are designed to solve problems you never knew you had. Are you eat-ing too fast? A digital fork will let you know. Is your toddler having trouble sitting still on the potty? Let the iPotty come to the rescue. Are you bored driving to work? Climb inside a 1,600-pound mechanical spider for your morning commute.

Of course, not all of the proto-types introduced at the annual gad-get show in January will succeed in the marketplace. But the innova-tors who shop their wares here are fearless when it comes to pitching new gizmos, be they flashy, catchy or just plain odd.

A search for this year’s strangest (and perhaps least useful) electron-ic devices yielded an extra-loud pair of headphones from a metal band, an eye-sensing TV that didn’t

work as intended and more. Take a look:

MOTORHEADPHONESBass-heavy headphones that

borrow the names of hip-hop lu-

minaries like Dr. Dre have become extremely popular. Rock fans have been left out of the party — un-til now. British metal band Mo-torhead, famous for playing gut-punchingly loud, is endorsing a line

of headphones that “go to eleven” and are hitting U.S. stores now.

Says lead singer and bassist Lemmy Kilmister, explaining his creative input: “I just said make them louder than everybody else’s. So that’s the only criteria, and that it should reflect every part of the sound, not just the bass.”

The Motorheadphone line con-sists of three over-the-ear head-phones and six in-ear models. A Swedish music-industry veteran. Distribution and marketing is han-dled by a Swedish company, Kru-sell International AB.

WHO IT’S FOR: People who don’t care about their hearing or of the sanity of person sitting next to them. According to Kilmister, the headphones are ideal for Motor-head fans. “Their hearing is already damaged, they better buy these.”

PRICE: Prices range from $50 to $130.

Smart Potty?

AP PHOTO

The iPotty on display at the Consumer Electronics Show in Las Vegas.

26 february 2013 CEDAR VAllEy BuSiNESS MONTHly


TAXDIRECTORY2 0 1 3

Let these area professionalsdo the job right!

[email protected] KIMBALL AVE.

WATERLOO, IOWA 50702GRANT & SCHINDEL CPAS

319.233.4000FAX [email protected]@GNSCPAS.COM

JUDY SCHINDEL, CPASEAN GRANT, CPA

107 East 18th StCedar Falls, IA 50613

319-553-0015

[email protected]

Michael Brannon,CPA

Matt Klostermann,CPA

Roth Tax &Accounting

815 West First StreetP.O. Box 218

Cedar Falls, IA 50613319-277-0820 office

John T Roth, [email protected]


eye-sensinG tVA prototype of an eye-sensing TV

from Haier didn’t quite meet view-ers eye-to-eye. An on-screen cur-sor is supposed to appear where the viewer looks to help, say, select a show to watch. Blinking while controlling the cursor is supposed to result in a click. In our brief time with the TV, we observed may quirks and comic difficulties.

For one, the company’s dem-onstrator Hongzhao Guo said the system doesn’t work that well when viewers wear eyeglasses. (That kind of defeats the purpose of TV, no?) One bespectacled reporter was able to make it work, but the cursor appeared a couple inches below where he was looking. This resulted in Guo snapping his fin-gers to attract the reporter’s eye to certain spots. The reporter dutifully looked, but the cursor was always a bit low. Looking down to see the cursor only resulted in it moving further down the TV screen.

WHO IT’S FOR: People too lazy to move their arms.

“It’s easy to do,” Guo said, taking the reporter’s place at the demon-stration. He later said the device needs to be recalibrated for each person. It worked for him, but is not ready for prime-time.

FloWer PoWerA company named after a bird

wants to make life easier for your plants. A plant sensor called Flow-er Power from Paris-based Parrot is designed to update your mobile device with a wealth of informa-tion about the health of your plant and the environment it lives in. Just stick the y-shaped sensor in your plant’s soil, download the ac-companying app and — hopefully — watch your plant thrive.

WHO IT’S FOR: ‘Brown-thumbed’ folk and plants with a will to live.

PRICE: Unknown.

haPiForKIf you don’t watch what you put

in your mouth, this fork will — or at least try to. Called HAPIfork, it’s a fork with a fat handle containing electronics and a battery. A motion sensor knows when you are lifting the fork to your mouth. If you’re eating too fast, the fork will vibrate as a warning. The company behind it, HapiLabs, believes that using the fork 60 to 75 times during meals that last 20 to 30 minutes is ideal.

But the fork won’t know how healthy or how big each bite you take will be, so shoveling a plate of arugula will likely be judged as less

healthy than slowly putting away a pile of bacon.

WHO IT’S FOR? People who eat too fast. Those who want com-pany for their “smart” refrigerator and other kitchen gadgets.

PRICE: HapiLabs is launching a fundraising campaign for the fork in March on the group-fundraising site Kickstarter.com. Participants need to pay $99 to get a fork, which is expected to ship around April or May.

iPottyToilet training a toddler is no pic-

nic, but iPotty from CTA Digital seeks to make it a little easier by letting parents attach an iPad to it. This way, junior can gape and paw at the iPad while taking care of business in the old-fashioned part of the plastic potty.The iPotty will go on sale in March, first on Ama-zon.com.

There are potty training apps out there that’ll reward toddlers for ac-complishing the deed. The compa-ny is also examining whether the potty’s attachment can be adapted for other types of tablets, beyond the iPad.

WHO IT’S FOR: Parents at their wit’s end.

PRICE: $39.99

mondo sPider, titanBoa

A pair of giant hydraulic and lithium polymer battery controlled beasts from Canadian art organi-zation eatART caught some eyes at the show. A rideable 8-legged creature, Mondo Spider, weighs 1,600 pounds and can crawl for-ward at about 5 miles per hour on battery power for roughly an hour. The 1,200-pound Titanoboa slith-ers along the ground at an as yet unmeasured speed.

Hugh Patterson, an engineer who volunteers his time making the giz-mos, said they were made in part to learn more about energy use.

Titanoboa was made to match the size of a 50-foot long reptile whose fossilized remains were dat-ed 50 million years ago, when the world was 5 to 6 degrees warmer. The creature was built “to provoke discussion about climate change,” Patterson said.

WHO IT’S FOR: Your inner child, people with extra-large liv-ing rooms.

PRICE: The spider’s parts cost $26,000. The Titanoboa costs $70,000. Engineers provided their time for free and both took “thou-sands of hours” to build.

DustinW.Whitehead, CCIM

Jack E. Jennings,CCIM

REDEVELOPMENT SITE 3250 GREYHOUND DRIVE, WATERLOO

+/- 64.23 acre redevelopment site located at the entrance toWaterloo at US Hwy 20 & US Hwy 63.

Former Greyhound Park includes a two-story 66,516 sf gaming facility and four 3,200 sf kennels.

The site is zoned M-2,P and city incentives are available. Listed under assessed value. Excellent

opportunity to invest in the Cedar Valley at a highly visible location. Call for pricing information.

RADII POPULATION HOUSEHOLDS MEDIAN HH INCOME5 Mile 78,712 31,470 $48,192

15 Miles 135,778 54,199 $48,56730 Miles 216,361 86,214 $47,989

WCF MSA 166,332 66,102 $48,949

DEMOGRAPHICS

PROPERTY DESCR IPT ION

(319) 277-8000Call Today!

DustinW.Whitehead, CCIM

Jack E. Jennings,CCIM

REDEVELOPMENT SITE 3250 GREYHOUND DRIVE, WATERLOO

+/- 64.23 acre redevelopment site located at the entrance toWaterloo at US Hwy 20 & US Hwy 63.

Former Greyhound Park includes a two-story 66,516 sf gaming facility and four 3,200 sf kennels.

The site is zoned M-2,P and city incentives are available. Listed under assessed value. Excellent

opportunity to invest in the Cedar Valley at a highly visible location. Call for pricing information.

RADII POPULATION HOUSEHOLDS MEDIAN HH INCOME5 Mile 78,712 31,470 $48,192

15 Miles 135,778 54,199 $48,56730 Miles 216,361 86,214 $47,989

WCF MSA 166,332 66,102 $48,949

DEMOGRAPHICS

PROPERTY DESCR IPT ION

(319) 277-8000Call Today!

business monthly - february 2013

Documents

business community

cedar valley business

business forum

new page

new perspectives

new step

business publication

sparkling new look