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]
Adventures in Contract Negotiations: Common Pitfalls to Avoid
Congratulations. Your business is up and running. Your hard work is paying off and you now find yourself on the verge of signing your first big contract. That’s great news. But slow down and take a deep breath. Don’t let your excitement blind you to some important considerations, including some all-too-common contracting pitfalls. Let’s take a hypothetical businessman named … [More]
Trucking: Moving Commerce
Once a semi gets up to speed on the open road, few things can stop its momentum unless it’s a car trying to edge past. Even then, it’s almost a sure bet who will keep moving if the maneuver is too close. “It’s not the smartest thing to cut off an 80,000-pound trailer,” says Tony Bradley, the new president and CEO at Arizona Trucking Association. And, despite the roadblocks a … [More]
Strengthening the Pipeline for References
Harnessing the power of references and referrals seems like an obvious win. What could make more sense for a business than to leverage the enthusiasm of happy customers to convince buyers that they need its products and services? And in an increasingly social and networked world — not to mention an economy where every dollar of revenue is critical — this type of third party … [More]
Check the Vital Signs of Client Relationships
Annual checkups play as vital a role in a businessperson’s professional health as physicals do for individuals — especially with regard to client and customer relationships, which are the lifeblood of every business. Most clients vote with their feet. They don’t tell a business they are unhappy — they simply start to give their business to its competitors. Client relationship … [More]
Stress and Bullying Take a Toll on Business
Stress hurts. Individuals may experience stomach problems, muscle tension or headaches, or loss of interest in their work, among a host of other expressions. And it spills over into the workplace in a number of different ways, all of which hurt a company’s bottom line — to the tune of $200–$300 billion in the United States every year in net effect of expenses that include … [More]
Intellectual Property: Protecting a Core Business Asset
It is never too early to start thinking about intellectual property protection. Keeping a conscious eye on these assets is a critical part of a business’s success. Business owners are likely to face the following key issues during the early stages of their enterprises. Trade Name vs. Trademark Many business owners mistakenly believe that a company name is synonymous with … [More]
Technology in Practice
While new technology is blamed as a reason affordable healthcare seems a thing of the past, some Arizona organizations are using such innovations to make medical care accessible on a number of fronts: patient records available immediately, links between rural physicians and urban specialists, use of wireless devices that even patients can afford, and, yes, a life-saving … [More]
Phoenix is Magnet for Foreign Direct Investment
Foreign direct investment appears to be the catalyst stimulating Arizona growth, and right now, eyes are on Phoenix as one of the nation’s hot markets. “Direct foreign investment in Arizona is high on the priority list of all of Arizona’s economic development organizations such as the Arizona Commerce Authority, GPEC, etc.,” says Ed Zito, president of Alliance Bank of Arizona. … [More]
Myths of Performance Management
Investments in performance measurement and management systems have been steadily increasing over the past two decades, and there is no sign this trend will change in the future. Leaders and managers in both private and public organizations regard such systems as a key means to implement and communicate strategy, support decision making, align behaviors, and, ultimately, improve … [More]
Strategic Business Structuring Can Save Assets
So you’re ready to open a business. You have 15 solid years of experience. Your first customer is waiting. A contract manufacturer is ready to start production. You’ve decided on an L.L.C. for your business structure and you’re ready to conquer the world … The best advice for someone in the above scenario is to slow down. Choosing the right entity for a business is … [More]
