From an economic standpoint, Arizona’s wine industry is doing really well, according to Peggy Fiandaca, president of the Arizona Wine Growers Association and owner and marketing director of Lawrence Dunham Vineyards. “It is growing; there are new acres of grapes in the ground and new wineries opening up. Between 2011 and 2012, we doubled the number of gallons of wine that were … [More]
Put Client Interest Over Self-Interest
Any entrepreneur willing to endure the proverbial “blood, sweat and tears” it takes to start a business knows how important clients are. They write the checks that pay the bills, so keeping them satisfied is rarely just lip service. In fact, most business owners believe they are putting their clients first — and would be shocked to hear they’re putting clients last. But in … [More]
The Changing Dynamics of Negotiation
“The advent of greater use of technology and social media has changed the way businesses are going about negotiating,” says attorney John DeWulf, of Roshka DeWulf & Patten. Parties are better able to negotiate thanks to technology that enables them to access more information not just about the subject matter (i.e., market trends) but also about the other side of the … [More]
Leadership Control vs. Business Growth
Most entrepreneurs want to grow their companies. However, the road to success is often a bumpy one. While many businesses start quickly growing revenues and profits, they frequently plateau well short of their potential. This often leaves the owner confounded regarding why his or her once-thriving enterprise has fallen on hard times. It can be a frustrating … [More]
Base Website Design on Your Sales Process
If you want your website to generate new business opportunities, you need to make sure it is designed to attract leads while it is guiding your prospect through the sales cycle. If you’re an e-commerce company, like Amazon or e-Bay, specifically focused on selling your product or service on the Internet, your site was probably designed to move a prospect through the buying … [More]
GPS Finds Its Way in Business
As fleet manager for Pink Jeep Tours, Greg McCallum deals with his share of questions: Did a jeep make it to the Grand Canyon yet? When is the Trekker getting to the hotel to pick up guests? Just where is that jeep that left not long ago? To find the answers, McCallum turns to the heavens. If you think he’s guided by the stars, you’re close. His fleet relies on on-board … [More]
What Works and What Doesn’t in Leadership Style
The best CEOs are always learning. The certainties of today — whether it’s relying on a particular business model or banking on a “category killer” or operating under a particular regulatory framework — can be up-ended and disrupted tomorrow. Corporate chiefs who internalize this reality are best equipped to steer their companies through disruption. Executives and directors … [More]
Branding Arizona
The common thread running through the minds of Valley economic development and political leaders is: Arizona needs to tell its story. The state’s image and reputation drive what happens to business in the Valley of the Sun. Arizona has never cohesively presented its message to the world. Officials say we’re always playing catch-up and trying to erase archaic and wrong … [More]
Create a Workplace that Meets Three Powerful Human Needs
Employers may be clear on what they need from their employees: hard work, efficiency, innovation, motivation, results. But what do employees need from their employer? To answer in practical terms — a steady paycheck, a quiet workspace, more training — is only partly right. Before they can meet the employer’s deepest needs, the employer must meet theirs. Psychologist Abraham … [More]
Cycling Dollars from Local to Local
Studies show a multiplier effect on dollars spent at local businesses that doesn’t exist for dollars spent at chain retailers or other out-of-state firms. Even if a local purveyor’s price is higher, the pay-off comes from keeping the money in the community. Local businesses propel dollars through an elaborate local spending cycle, generating jobs, profits, purchases, capital … [More]
Insurance: Quietly Supporting the Economy
It’s not too often that Arizona State University President Michael Crow is joined by Arizona Gov. Jan Brewer to say, “Welcome to the neighborhood!” But when ASU’s new neighbor is looking to occupy 2 million square feet of office space valued at $600 million, who can blame the duo for leading the welcome wagon? The planned regional headquarters for State Farm Insurance … [More]
Facebook or Face Time? Communication Approach Matters
Technology has made many aspects of modern living more convenient and “connected,” but the pendulum has swung too far. This “technology takeover” is not without consequence. Misunderstandings abound. Relationships stagnate. Trust is at an all-time low. And all of these issues are at least partially due to the fact that genuine human connections are becoming a thing of the past, … [More]
Spot Business Opportunity in Tomorrow’s Economy
Some of today’s largest, most recognizable companies may not be around after the next several years. To succeed, company leaders must not only be able to innovate, they must recognize opportunity and ensure they’re poised to seize it. Napster’s impact on the music industry is an example of the need to be alert to opportunities in innovation. Napster was a rule-breaking company … [More]
Due Diligence as Partnership
As the economy picks up, so does mid-market merger and acquisition activity. Yet successful deals remain elusive. According to a wide array of respected industry studies, the failure rate of M&A deals ranges between 70 and 90 percent. Even the most upbeat research shows M&A success as a 50/50 proposition at best — daunting odds for such a high-stakes venture. The … [More]
Equity-raising Opportunity Exists for Small Businesses
Owners of small businesses may find it easier to raise money in 2013. This is because, among the favorable tax breaks included under the American Taxpayer Relief Act (the “2012 Act”), there is a temporary extension of a provision that excludes 100 percent of gain arising from the sale of certain qualified small business stock (QSBS). This is a benefit small-business owners can … [More]
Company Culture: Framework for Success
A culture is what makes a company unique. It is all about what, why and how a group of people or an organization does things. It also is about the language, mindset, traditions and values — which don’t cost much money, but there needs to be a structure that supports and maintains all these elements. Many companies I have visited want a great culture and try to do things … [More]
Taking the Lead
Leadership. Vision. As president and CEO of National Bank of Arizona, Keith Maio knows strength in both areas is a desired combination for success in any business. But when it comes to making a state successful, those traits are critical. It’s about “developing that common vision almost like you would for a business and engaging leaders to move toward that vision.” He’s … [More]
The Business of Banking Is Banking on Small Business
“In just four years, we’ve seen 15 banks exit the market,” says Paul Hickman, president and CEO of the Arizona Bankers Association. “Between the economy and Dodd-Frank [post-recession federal legislation regulating banks], many banks have reached a tipping point.” The business of banking is changing significantly. New federal laws and fewer banks — particularly mid-size … [More]
