Davinci Suites Blog

2010-10-19T07:30:00.000-07:00

Check out this interview from Entrepreneur.com! It's a great example of starting off on your own, and Davinci can help you do that with our Emerging Business Program.

How to Ditch Your Cube and Be Your Own Boss

Pamela Slim, author of Cubicle Nation wants to set you free. Consider her advice for opting out of corporate life.

By Kimberlee Morrison Entrepreneur's StartUps - September 2010

Pamela Slim was tired. For the first 10 years of her career, she was busy juggling two demanding jobs. By day, she was a corporate director of training and development; at night and on weekends, she served as a volunteer director of a martial arts organization, working with at-risk children. The pace eventually took its toll. She knew she had to take a break. Perhaps surprising to some, she decided to walk away from her day job.

That bold and abrupt departure 14 years ago has turned into a permanent escape from -- as she puts it -- the "oppressive, constraining, crazy-making environment" of the corporate cubicle. Slim is now a self-employed corporate consultant, designing and teaching leadership programs, sales presentation skills and providing executive career coaching for major corporations, including Hewlett Packard, Charles Swab and Cisco Systems.

In 2005, Slim extended her reach by starting a blog with a manifesto declaring herself the liberator of Cubical Nation. Her mission: to help people escape the cube and realize their entrepreneurial dreams. The blog, which now claims 60,000 unique visitors per month, landed Slim a book deal. Escape From Cubicle Nation: From Corporate Prisoner to Thriving Entrepreneur was published earlier this year.

Entrepreneur recently caught up with Slim to discuss her philosophy, and to pick her brain about facing down fears, chucking the corporate gig and following that pioneering impulse.

Were you afraid when you decided to leave the steady job behind?
I think it was youthful exuberance, but I wasn't really scared. I quit my job and didn't have another lined up. I was planning to go back and find another position, but nothing sounded interesting. It was 1996 and I was in the Bay Area; a very ripe market, so there was tons of work available. I started working independently as a consultant for HP pretty much always had work after that.

Is it normal not to be fearful?
Most of my readers and clients have huge fears -- mainly about living in a van down by the river. People have real anxiety they won't be able to generate enough income to take care of their families. That's the No. 1 concern.

But that's not unreasonable in these days. What's your coping advice?
First, you have to understand what you're afraid of. If you have a generalized anxiety and think you're going to eat garbage out of a dumpster, you have to ask yourself why you feel that way. Is it because you're unsure of your business plan? Or because you don't fully understand your market? Well, you have reason to worry. It's very important for people to self-diagnosis and figure out the core issue--and then do something about it.

I also believe in testing often and failing fast. Develop your business plan beyond the conceptual phase before quitting your day job. You should actually work on building up your new business -- selling your products and services -- while you have cash cushion. I realize that sometimes it's not possible, but it's always advisable.

In your experience, what age group most wants to opt out of corporate life?
There's strong resonance from 40 and 50 year olds. They've been there and can relate to the difficulties of corporate life and to the transition to a new challenge. I've also gotten a lot of feedback from Gen Y -- a whole crew of 20-somethings who say they don't even want to go the standard cubicle route in the first place.

Why is that?
We're at a real shifting point in history. The framework for career development has blown up and changed--and I think for the better. There was a lot of pressure on previous generations, baby boomers especially--from parents and educational institutions--to go down the corporate path, even if they had preferred to do otherwise. No more.

What's makes Gen-Y different?
They're hyper-connected digitally and they're witnessing many more examples of people successfully skipping the corporate track altogether. And they're very clear about what they don't want to do.

So what do they do?
Gen-Y-ers are great 'side-hustlers.' They're really good at getting a lot of little side ventures off the ground -- many tech oriented -- and then figuring out which one to grow into a full-on business.

What's the take-away from your book?
I wanted to create a clear path to outline the steps that many corporate employees didn't know existed. There are a lot of nuts-and-bolts books out there, but they don't deal with the hidden concerns -- such as dealing with your fears and reawakening your creativity after being in a corporate setting for a long time; and, not inconsequentially, sharing with your spouse or partner the idea that you want to quit your job. At the end of the day, I want someone to put down the book and say, 'Oh my gosh, I can start a business and be successful.' Or, 'Oh my gosh, this is not really for me.'

2010-10-18T10:56:00.000-07:00

So You Want to Be Your Own Boss...

(from Entrepreneur.com)

8 tips to get you going, even if you don't know where to start

By Tamara Monosoff July 19, 2010

If you want to start a business but don't know where to start, don't worry--you are not alone. In fact, given the new economic reality of our time, more people than ever before have found the "job" they thought was waiting for them doesn't exist. Others have come to the conclusion that they would rather create work they love, constructed to fit with their own life goals. No matter what the motivation is to be your own boss, you can start today.

Here are 8 Tips to Get You Started:

Take a Stand for Yourself.
If you are dissatisfied with your current circumstances, admit that no one can fix them except for you. It doesn't do any good to blame the economy, your boss, your spouse or your family. Change can only occur when you make a conscious decision to make it happen.
Identify the Right Business for You.
Give yourself permission to explore. Be willing to look at different facets of yourself (your personality, social styles, age) and listen to your intuition. We tend to ignore intuition even though deep down we often know the truth. Ask yourself "What gives me energy even when I'm tired?"

How do you know what business is "right" for you? There are three common approaches to entrepreneurship:

Do What You Know: Have you been laid off or want a change? Look at work you have done for others in the past and think about how you could package those skills and offer them as your own services or products.

Do What Others Do: Learn about other businesses that interest you. Once you have identified a business you like, emulate it.

Solve a Common Problem: Is there a gap in the market? Is there a service or product you would like to bring to market? (Note: This is the highest-risk of the three approaches.) If you choose to do this, make sure that you become a student and gain knowledge first before you spend any money.
Business Planning Improves Your Chances for Success.
Most people don't plan, but it will help you get to market faster. A business plan will help you gain clarity, focus and confidence. A plan does not need to be more than one page. As you write down your goals, strategies and action steps, your business becomes real.

Ask yourself the following questions:
- What am I building?
- Who will I serve?
- What is the promise I am making to my customers/clients and to myself?
- What are my objectives, strategies and action plans (steps) to achieve my goals?
Know Your Target Audience Before You Spend a Penny.
Before you spend money, find out if people will actually buy your products or services. This may be the most important thing you do. You can do this by validating your market. In other words, who, exactly, will buy your products or services other than your family or friends? (And don't say. "Everyone in America will want my product." Trust me--they won't.) What is the size of your target market? Who are your customers? Is your product or service relevant to their everyday life? Why do they need it?

There is industry research available that you can uncover for free. Read industry articles with data (Google the relevant industry associations) and read Census data to learn more. However, the most important way to get this information is to ask your target market/customers directly and then listen.
Understand Your Personal Finances and Choose the Right Kind of Money You Need for Your Business.
As an entrepreneur, your personal life and business life are interconnected. You are likely to be your first--and possibly only--investor. Therefore, having a detailed understanding of your personal finances, and the ability to track them, is an essential first step before seeking outside funding for your business. This is why I recommend setting up your personal accounts in a money management system such as Mint.com to simplify this process.

As you are creating your business plan, you will need to consider what type of business you are building--a lifestyle business (smaller amount of startup funds), a franchise (moderate investment depending on the franchise), or a high-tech business (will require significant capital investment). Depending on where you fall on the continuum, you will need a different amount of money to launch and grow your business, and it does matter what kind of money you accept.
Build a Support Network.
You've made the internal commitment to your business. Now you need to cultivate a network of supporters, advisors, partners, allies and vendors. If you believe in your business, others will, too.

Network locally, nationally & via social networks. Join networks like NAPW.com, your local chamber of commerce, or other relevant business groups. Here are some networking basics:

- When attending networking events, ask others what they do and think about how you can help them. The key is to listen more than tout yourself.
- No matter what group you join, be generous, help others and make introductions without charging them.
- By becoming a generous leader, you will be the first person that comes to mind when someone you've helped needs your service or hears of someone else who needs your service.
Sell By Creating Value.
Even though we purchase products and services every day, people don't want to be "sold." Focus on serving others. The more people you serve, the more money you will make. When considering your customers or clients, ask yourself:

- What can I give them?
- How can I make them successful in their own pursuits?
- This approach can help lead you to new ways to hone your product or service and deliver more value, which your customers will appreciate.
Get the Word Out.
Be willing to say who you are and what you do with conviction and without apology. Embrace and use the most effective online tools (Twitter, Facebook, YouTube, LinkedIn) available to broadcast your news. Use social networks as "pointer" sites; i.e., to point to anything you think will be of interest to your fans and followers.

Even though social networks are essential today (you must use them!), don't underestimate the power of other methods to get the word out: e.g., word-of-mouth marketing, website and internet marketing tools, public relations, blog posts, columns and articles, speeches, e-mail, newsletters, and the old-fashioned but still essential telephone.

If you take these steps, you'll be well on your way to becoming your own boss. It's important to remember that you are not alone. If you want to "be your own boss" but you still feel stuck, reach out and connect with other entrepreneurs in a variety of ways. You may be surprised by the invaluable contacts that are right at your fingertips.

2010-10-14T07:37:00.000-07:00

Here's a "Sales Tip of the Week" from the June edition of Entrepreneur.com

When the Selling Gets Tough, the Tough Get Smart

By Mark Stevens

Drop the word "recession" from your lexicon and replace it with "opportunity." People are buying homes, cars, shoes, software, copiers and even yachts. Find out where the opportunities are and make that your market.
Experiment with sales and marketing initiatives you've never tried or have avoided. Say, for example, that you detest the idea of hosting a seminar. Well, seminars are a powerful way to sell through education. And today, with impulse sales on the decline, selling by advising and informing can deliver a strong advantage.
Remember that buying is linked to key human needs and emotions that prevail regardless of economic conditions. The drive for success, wealth, beauty, security, entertainment, peace of mind and love never goes away. This may be the ideal time to change your approach from a product or service focus to a pitch based on these enduring drives and values.

"Starting a Business: The Idea Phase"

2010-10-07T07:42:00.000-07:00

Here's a fantastic article from Start Your Own Business, Fifth Edition. A very good place to grow your business is with Davinci's Emerging Business Program.

You know you want to start a business, but what do you do next? Here's how to find the perfect idea for your business.

By Entrepreneur Staff

Many people believe starting a business is a mysterious process. They know they want to start a business, but they don't know the first steps to take. In this chapter, you're going to find out how to get an idea for a business--how you figure out exactly what it is you want to do and then how to take action on it.

But before we get started, let's clear up one point: People always wonder if this is a good time to start their business idea. The fact is, there's really never a bad time to launch a business. It's obvious why it's smart to launch in strong economic times. People have money and are looking for ways to spend it. But launching in tough or uncertain economic times can be just as smart. If you do your homework, presumably there's a need for the business you're starting. Because many people are reluctant to launch in tough times, your new business has a better chance of getting noticed. And, depending on your idea, in a down economy there is often equipment (or even entire businesses!) for sale at bargain prices.

Estimates vary, but generally more than 600,000 businesses are started each year in the United States. Yet for every American who actually starts a business, there are likely millions more who begin each year saying "OK, this is the year I am going to start a business," and then don't.

Everyone has his or her own roadblock, something that prevents them from taking that crucial first step. Most people are afraid to start; they may fear the unknown or failure, or even success. Others find starting something overwhelming in the mistaken belief they have to start from scratch. They think they have to come up with something that no one has ever done before--a new invention, a unique service. In other words, they think they have to reinvent the wheel.

But unless you're a technological genius--another Bill Gates or Steve Jobs--trying to reinvent the wheel is a big waste of time. For most people starting a business, the issue should not be coming up with something so unique that no one has ever heard of it but instead answering the questions: "How can I improve on this?" or "Can I do this better or differently from the other guy doing it over there?" Or simply, "Is there market share not being served that makes room for another business in this category?"

Get the Juices Flowing
How do you start the idea process? First, take out a sheet of paper and across the top write "Things About Me." List five to seven things about yourself--things you like to do or that you're really good at, personal things (we'll get to your work life in a minute). Your list might include: "I'm really good with people, I love kids, I love to read, I love computers, I love numbers, I'm good at coming up with marketing concepts, I'm a problem solver." Just write down whatever comes to your mind; it doesn't need to make sense. Once you have your list, number the items down one side of the paper.

On the other side of the paper, list things that you don't think you're good at or you don't like to do. Maybe you're really good at marketing concepts, but you don't like to meet people or you're really not that fond of kids or you don't like to do public speaking or you don't want to travel. Don't overthink it; just write down your thoughts. When you're finished, ask yourself: "If there were three to five products or services that would make my personal life better, what would they be?" This is your personal life as a man, woman, father, husband, mother, wife, parent, grandparent--whatever your situation may be. Determine what products or services would make your life easier or happier, make you more productive or efficient, or simply give you more time.

Next, ask yourself the same question about your business life. Examine what you like and dislike about your work life as well as what traits people like and dislike about you. Finally, ask yourself why you're seeking to start a business in the first place. Then, when you're done, look for a pattern to emerge (i.e., whether there's a need for a business doing one of the things you like or are good at).

They Delivered
Here's a business startup story that's a great example of seeing a need and filling it. Entrepreneur magazine is located in Irvine, California, a planned community. Many years ago, there weren't many fast-food restaurants in the business area. Most were across town, where the neighborhoods were. Two young men in Irvine found this lunch situation very frustrating. There weren't many affordable choices. Sure, there were some food courts located in strip centers, but the parking lots were really small and the wait was horrendous.

One day, as they were lamenting their lunch problem, one of them said, "Wouldn't it be great if we could get some good food delivered?" The proverbial light bulb went on! Then they did what many people don't do--they did something about their idea. Coincidentally, they purchased one of Entrepreneur's business startup guides and started a restaurant delivery business.

To date, their business has served more than 15 million people! It's neither a complicated business nor an original one. Their competition has gotten stiffer, and yet they're doing phenomenally well. And it all began because they listened to their own frustrations and decided to do something about them. Little did they know that research cites the shrinking lunch hour as one of the biggest complaints by American workers. Some only get 30 minutes, making it nearly impossible to get out, get lunch and get back on time. So while these young entrepreneurs initially thought they were responding to a personal need in their local area, they actually struck a universal chord.

That is one way to get ideas--listening to your own (or your co-workers', family's or neighbors') frustrations. The opportunities are all there; you just need to search them out. If your brain is always set in idea mode, then many ideas may come from just looking around or reading. For instance, if you had read an article about the shrinking lunch hour, and if you were thinking entrepreneurially, you would say "Wow, maybe there's an opportunity there for me to do something. I should start researching it."

Inspiring Moments
Inspiration can be anywhere. Here's another classic startup story: Ever get charged a fee for returning a video late? Bet you didn't do anything about it. Well, when Reed Hastings got a whopping $40 late charge, instead of getting mad, he got inspired. Hastings wondered "How come movie rentals don't work like a health club, where, whether you use it a lot or a little, you get charged the same?" From this thought, Netflix.com, an online DVD rental service, was born. From its start in 1999, Netflix has grown into a big business with revenues topping $1.3 billion.

Getting an idea can be as simple as keeping your eyes peeled for the latest hot businesses; they crop up all the time. Many local entrepreneurs made tons of money bringing the Starbucks coffeehouse concept to their hometowns and then expanding from there. Take Minneapolis-based Caribou Coffee. The founders had what they describe as an "aha moment" in 1990, and two years later launched what is now the nation's second-largest company-owned gourmet coffeehouse chain. Other coffee entrepreneurs have chosen to stay local.

And don't overlook the tried and true. Hot businesses often go through cycles. Take gardening. For the last few years gardening products and supplies have been all the rage, but you wouldn't consider gardening a 21st century business.

In other words, you can take any idea and customize it to the times and your community. Add your own creativity to any concept. In fact, customizing a concept isn't a choice; it's a necessity if you want your business to be successful. You can't just take an idea, plop it down and say "OK, this is it." Outside of a McDonald's, Subway or other major franchise concept, there are very few businesses that work with a one-size-fits-all approach.

One of the best ways to determine whether your idea will succeed in your community is to talk to people you know. If it's a business idea, talk to co-workers and colleagues. Run personal ideas by your family or neighbors. Don't be afraid of people stealing your idea. It's just not likely. Just discuss the general concept; you don't need to spill all the details.

Just Do It!
Hopefully by now, the process of determining what business is right for you has at least been somewhat demystified. Understand that business startup isn't rocket science. No, it isn't easy to begin a business, but it's not as complicated or as scary as many people think, either. It's a step-by-step, common-sense procedure. So take it a step at a time. First step: Figure out what you want to do. Once you have the idea, talk to people to find out what they think. Ask "Would you buy and/or use this, and how much would you pay?"

Understand that many people around you won't encourage you (some will even discourage you) to pursue your entrepreneural journey. Some will tell you they have your best interests at heart; they just want you to see the reality of the situation. Some will envy your courage; others will resent you for having the guts to actually do something. You can't allow these naysayers to dissuade you, to stop your journey before it even begins.

In fact, once you get an idea for a business, what's the most important trait you need as an entrepreneur? Perseverance. When you set out to launch your business, you'll be told "no" more times than you've ever been told before. You can't take it personally; you've got to get beyond the "no" and move on to the next person--because eventually, you're going to get to a "yes."

One of the most common warnings you'll hear is about the risk. Everyone will tell you it's risky to start your own business. Sure, starting a business is risky, but what in life isn't? Plus, there's a difference between foolish risks and calculated ones. If you carefully consider what you're doing, get help when you need it, and never stop asking questions, you can mitigate your risk.

You can't allow the specter of risk to stop you from going forward. Ask yourself "What am I really risking?" And assess the risk. What are you giving up? What will you lose if things don't work out? Don't risk what you can't afford. Don't risk your home, your family or your health. Ask yourself "If this doesn't work, will I be worse off than I am now?" If all you have to lose is some time, energy and money, then the risk is likely worth it.

Determining what you want to do is only the first step. You've still got a lot of homework to do, a lot of research in front of you. Buying this book is a smart first step. Most important: Do something. Don't sit back year after year and say "This is the year I'm going to start my business." Make this the year you really do it!

2010-10-06T07:31:00.000-07:00

Utah Women-Owned Businesses Facing Obstacles with Confidence

by Candace Little, UtahBusiness.com 06 October 2010—

Some of Utah’s top women in business discussed company growth and overcoming obstacles during the recession and shared advice for future female business leaders at a Utah Business roundtable October 5, 2010.

Up to the Challenge

Downsizing was a solution for many businesses to survive the recession, a very hard decision for some of the women at the roundtable to make. “[Our business] becomes our baby and our child and we want to grow it,” Suzanne Ziemba, president of Yelo Creative Group said. “When something happens to it, it becomes this very emotional thing. It’s hard to say, ‘it’s just not working the way I thought it was going to work,’ and there is an element of loss. It has been very difficult.”

Maxine Turner, president of Cuisine Unlimited had to cutback on her employees. She said the company was functioning at the profitability levels of 2005, and decided to cut staff from 110 to 65. Even with the cutbacks, the company implemented some innovative menus to compete with other local caterers, it was able to expand to Park City and is also expanding its international presence.

Hydee Willis, president of Creative Expressions said she also cut her staff from 65 to 32. Willis said it was hard, but compared her company to running a big ship, and that she turned over all its issues to the entire crew. “They came up with some incredible ideas and process changes,” Willis said, that helped the company through the recession.

While some struggle to get business, Alicia Bremer, president of Bremer Public Relations, Inc. and Jeri Cartwright, president of Cartwright Communications, are busy trying to keep up. Cartwright said she has had to learn to turn some work away so she can continue providing services to her existing clients at the quality she promises. Bremer said there has been a high demand for strategic communications that really picked up the beginning of this year and that one of her biggest challenges is constantly staying up with the social media that will benefit her clients’ bottom lines.

Some women said their biggest obstacle has been getting funded or knowing what kind of funding would best fit their business. Wells Fargo’s Julie Tanner, vice president and manager of women’s financial services said, “If you have a successful business and can prove that, you’ll get a loan. We are ready and wiling to lend.”

Giving Advice

Joining networking and support organizations helped many women around the table succeed, and they shared some advice they’ve learned about starting or leading a business.

“Women need to stand on their own.” Said Sabina Zunguze, CEO of Beautiful Options USA. “Being a minority woman, where in business you are doing the same thing but they look at you as if you’re doing something less than they are, I know there are many women who fizzle out because they don’t have the confidence. If you have the confidence and your focus and you know what it is you’re doing you create a successful environment.”

Kelly King Anderson, founder and managing director of StartupPrincess said business owners need to be careful when using social media because while you are building relationships with Twitter, blogs, Facebook, etc., Anderson said, “If you’re not linking it to a sale, it’s a waste of time.” She also advises women entrepreneurs to study your passions and work within an industry before launching a business. “I think it’s so smart to learn everything you can about the industry before you go into it,” Anderson said.

Lavanya Mahate, executive director at the Salt Lake Chamber Women’s Business Center said there are a lot of checklists when starting a business, but she thinks the three most important things are, “1) Imagination—imagine the possibilities, 2) Inspiration—you have to be inspired in what you’re doing and then be willing to inspire your associates. Without inspiration you can’t move forward, and then 3) Intuition. Use your best judgment—you’re smart, you’ve done all your homework, just go dive into it.”

Willis agreed it’s good to make a business out of your passion, but if you don’t know how business works upfront, you’re setting yourself up to fail. “You need to learn the aspects of business, then you take your passion and your inspiration and you build on that,” Willis said.

UtahBusiness.com

2010-10-04T07:33:00.000-07:00

“Success doesn't come to you, you go to it.”

-Marva Collins

2010-10-01T12:09:00.000-07:00

Check out this article from Entrepreneur.com. Of course, getting a virtual number from Davinci Executive Suites and Virtual Offices can enhance the professional image--professional answering service, conference rooms, mailbox--where home offices fall short. We have many options to fit every business in every stage--executive office suites, virtual offices, and our Emerging Business Program. Call a Davinci Center today!

Home Sweet Home Office

The first of a three-part series on home offices. Part One: Finding the right tools to maximize efficiency and minimize pain.

By Jonathan Blum Entrepreneur Magazine - October 2010

Until recently, the evolution of the entrepreneurial work-at-home experience went something like this: First a small space--maybe just the kitchen table--would be carved out to chase a new opportunity. With luck and hard work, the business might grow significant enough to take over a dedicated space, like a spare bedroom, a corner of the basement or that room above the garage. Eventually, if the business really took off, it would outgrow the confines of the home office and move to a dedicated business space.

Today, though, technology and a growing awareness of the need for intelligent home office space have combined to change those dynamics. New ergonomic work tools transfer the benefits of dedicated work spaces to home environments. Advanced wireless networking brings full connectivity to any room. And a changing society has blurred the lines of where it is acceptable to do business.

Working from home took off in the 1990s, when laptops and mobile phones made telecommuting viable. Companies often looked to save on rent by giving workers a stipend to set up shop from home. Inexpensive modular pieces were shoehorned into cramped, ad-hoc home spaces with middling results: Hands ended up tilted at awkward positions, leading to repetitive stress injuries and a bum rap on working at home.

"There were a lot of lawsuits," says Mark Dutka, principal at InHouse Design Studio, a San Francisco-based home office design firm. "Plus it led to a perception that working from home was somehow generically less efficient--which really is not true."

The internet boom and bust, a surge in outsourcing by shrinking companies and a recent explosion of small businesses launched by downsized workers caught the attention of big furniture shops and tech firms. All that know-how translates to the availability of tools that can help make you more comfortable and productive in your home office while you work on making your business more profitable. Here's how:

Take care of yourself. Think ergonomics first. Choose a keyboard that tilts in and out and can be adjusted up and down as well as back and forth. Humanscales' 2G System ($419) is a solid pick. When you're typing, make sure your hands tilt downward to ease the strain on your long manual tendons. And for tasks like web surfing and research, noodle the keyboard around until it feels comfortable. (Surprisingly, experts say desk height doesn't really matter; the keyboard is what should adjust to your needs.) Your chair should be all about flexibility and support. A good entry-level model like the Herman Miller Celle Chair ($449) should move up and down, swivel right and left. It should have well-placed, adjustable armrests; and don't forget your head--your neck and lower back are all part of a (potentially painful) piece.

Every (small) thing in its place. Most office furniture is too big for homes. Look for a smaller, L-shaped desk instead of the traditional square. Then put the monitor directly in front of you at eye level and everything else-- computers, peripherals, etc.--off to your right or left. Also, avoid sitting directly in front of a window. Yes, the view is nice, but the contrasting light confuses your retina, which can give you a royal headache. You can't make money that way.

Light it up. Task lights are great in the kitchen or for reading, but these direct, down-facing lights should be banished from the home office. They create glare on the screen, which can tire your eyes. Instead, bounce light off the ceiling or wall and give your work a cool bath of indirect illumination. For best results, choose a light you can point and spin depending on the time of day. Check out the personal desk lights with efficient LED bulbs from Group Dekko.

Get moving. Don't make things too accessible. Without that water cooler chat to pull you way from your desk, you will need to build in excuses to stop typing and move around. Use a next-generation wireless technology like the Netgear N300 Wireless dual band router ($99) to put the printer in another room. And then jack in a high-quality, cordless headset like Plantronics T20 ($80) that lets you make calls from the couch or the deck--or better yet, the exercise bike.

The bottom line: A home office can be not only as efficient, but potentially even more efficient than a dedicated out-of-home space. Never mind the zero spent on commuting or the savings on dry cleaning, there are real tax advantages as well. Done right, your home office can make money for you, even when you don't.

Productivity bonus: If you have a good chair and keyboard, a perfectly functioning fold-down work space can be attached to something as simple as the back of a solid core door. You may not need a dedicated office at all.

What's next: In subsequent issues, we'll highlight home office solutions for popular work-from-home jobs and crack the elusive code of how to meet with clients when your office is in your house.

2010-09-30T09:19:00.000-07:00

Davinci Suites Partners with Utah Technology Council to Bring High-Tech Jobs to Salt Lake

Davinci Suites, a leading provider of virtual offices, meeting rooms and executive office suites in the Salt Lake area, is proud to announce a partnership with the Utah Technology Council (UTC), Utah’s premier professional association. Through this partnership, Davinici Suites hopes to help UTC foster new high-tech growth throughout Utah.

UTC’s mission involves developing a high-quality high-tech work force and attracting an increasing array of funding to the state. And Davinci Suites helps their clients do just that – by lowering their capital expenditures on facility costs, while utilizing state-of-the-art virtual office facilities on-demand to run their business, host meetings and make great first impressions with important business partners with executive office suites.

Now through this partnership, Davinici Suites’ clients are eligible to join UTC at $10 per month for technology companies and $42 per month for non-technology companies. This is a 50% savings off traditional membership pricing.

Davinci Suites is proud to offer this discount to their clients, knowing that as a UTC member, they will get to learn from and share insights with industry peers, counsel with government and academic leaders, and receive help from professional service providers and funding resources.

Sam Souvall, President of Davinci Suites says, “We’re proud of this partnership with the Utah Technology Council. We love what they do and what they can offer our clients, and how together, we can help grow and bring more high-tech business to the Salt Lake area.”

Davinci Suites is also proud to be hosting upcoming UTC events at their state-of-the-art facilities, including:

9/23 – HR P2P Forum – “Building a Motivated Workforce and Leadership Culture”

9/29 – Member Orientation

10/29 – UTC Hall of Fame Celebration

Learn more about these upcoming meetings at www.utahtech.org.

Contact: Sam Souvall

Davinci Suites

Phone: (801) 990-3100

ssouvall@davincisuites.com

About Davinci Suites

Davinci Suites is the industry leader in virtual office space, offering businesses the professional look and all the amenities of a traditional office space – including conference rooms, a business address, meeting rooms, a reception, executive suites and more – without having to spend the money on one.

About Utah Technology Council

Utah’s premier professional association, the Utah Technology Council, has become the essential business resource for life science and high-tech companies seeking to achieve greater success. At its core, UTC exists to foster the growth of the state’s 5,000 technology companies, ensure Utah develops the highest quality workforce in the nation, and attract an ever-increasing array of funding. Members join UTC to share insights with industry peers, counsel with government and academic leaders, and receive help from professional service providers and funding resources.

Networking

2010-09-27T08:50:00.001-07:00

Check out this article from Entrepreneur.com!

The Network is Everything

Chances are, your connections don't go far enough and you don't contact them enough. Here's how to change that.

By Chris Brogan Entrepreneur Magazine - October 2010

Hollywood producer Jerry Weintraub recently published a great memoir called When I Stop Talking, You'll Know I'm Dead that illustrates the power of the network. In it, he tells story after story about how a relationship, properly maintained, brought him further along in his business than anything else.

But people rarely tell you how to build a network, or how to maintain relationships, or what will matter on the way up. And they don't give you any shortcuts that you can follow, either. Me? I'm all about the shortcuts and the help.

Understand Dunbar's number
British anthropologist Robin Dunbar said you can maintain only 150 close social connections. This isn't a software limitation--it's a number culled from research that says we humans have a hard time keeping everyone top of mind. With technology, we are able to stretch that number, but it requires consideration and tuning to maintain your 150 and to grow.

The 150 people you spend most of your time communicating with are:

Relatives
Colleagues at the same company
Customers or prospects served by that company
Schoolmates from the good old days
Geographic connections

It's easy to predict this, as most people network the same way. It's also a negative toward your potential future growth. Think about people who lost their jobs in the Detroit region. Relatives, colleagues, customers, schoolmates and geographic locals couldn't help one another, because they were all in the same boat. Let's fix that.

Be part of different 150s
There are many ways to consider whom you should stay in closest contact with. My take is that you should consider diversifying by location and by industry, for starters. One way to maintain a diverse and useful network is to branch out and then "feed" your network better. Let's start with expanding your network.

Pull out whatever you're using for contact management and look at the total sum of people you know how to reach. Can you find people via your networks who are in similar industries but different verticals? Maybe you sell houses. Find a real estate professional on the other side of the country, or maybe in another country. Start getting chummy.

Find people from different industries and connect. Our real estate professional could make friends in the local art community, then help artists place paintings in each house sold. Get the picture?

Deliver useful contact often
The best advice I can give you is to be helpful. There are two ways that I do this, and maybe you have others. First, I share useful information when I find it. If I see an article about the restaurant business, I send it to Joe Sorge in Milwaukee, who runs AJ Bombers and three other restaurants. If I've got something to share with Government 2.0 types, I'll tell Alex Howard, who covers the future of government for O'Reilly Media.

The second way I help is by connecting people together for business. Every time you can tell someone in your network that you have someone they should meet--and that meeting amounts to business value and/or money--it's a beautiful day for all. Be at the elbow of every deal.

Exercising our networks and connecting to important people are meant to be a part of our daily business rituals, not an add-on. It's work, but it's work that pays off.

2010-09-24T08:21:00.000-07:00

From Entrepreneur.com

As the Economy Gets Moving, Will Your People Do the Same?

Five ways to keep your best and brightest motivated--and working for you

By Burton Goldfield: Human Resources Strategies September 21, 2010

According to Deloitte's recent annual "Ethics & Workplace Survey", one-third of employed Americans plan to look for a new job once the economy recovers. That's an astounding figure that, in many cases, could be mitigated if organizations invested in a long-term strategic approach to motivate and reward staff. Many companies assume they need to roll out extravagant rewards to make a big impact. This is not so, and I've found that a healthy retention rate can be achieved by following the tips listed below.

1. Management training builds morale and employee dedication: The status of an employee's relationship with his or her manager is the most sensitive indicator of whether he will stay or quit. It's not enough that a manager is nice; they need to communicate clear expectations to the employee, offer ongoing feedback about performance and provide a framework within which the employee can perceive success. Ensuring that employees are provided with clear feedback on their performance and that they clearly understand their earning potential will let them know they're valued and an important part of the long-term bigger picture.

2. Embrace employee opinions or risk losing their respect: As I wrote in June, corporate culture is the way employees describe where they work, understand the business and see themselves as part of the organization. If an employee feels empowered and comfortable to speak freely within the company, they are more likely to feel a part of the business. Ask yourself: Does my organization solicit ideas and provide an environment in which people are comfortable providing valuable feedback? If so, this will create a happy and more productive work force. If the company does not promote an open door policy for feedback, employees often disengage and ultimately go looking for a better fit.

3. Recognize your staff: Employees like to know that they're valued members of a larger team, and recognition for a job well done goes a long way in establishing company loyalty. If offering a raise, cash bonus or additional paid-time off aren't options, nonfinancial rewards, title promotions and new assignments are all great alternatives--and often mean more than financial recognition. Offer top performers a greater role in decision making or set them up with a mentor. If a business prefers to financially reward employees but cannot afford pay raises, bonuses are also an effective tactic.

4. Create a sense of community: One of the biggest benefits to working in a small or midsize business is the closeness of an environment where people know each other beyond just a name and a face; it can become a true community. Leverage this strength by holding potlucks, picnics and even the occasional social hour. Being part of a community can be a powerful counterpoint when a larger, more impersonal entity tries to recruit your star employees.

5. Transparency goes a long way in building trust: Share financial details and other company information with employees, and solicit their input. If employees feel they're part of the overall process of moving your business forward, they will not only stay productive, but they will also support new ideas that come from management.

I truly believe that to succeed and retain top performers, business leaders must provide an honest snapshot of the company's future goals. I hold an all-hands meeting quarterly to review the previous quarter, reveal company financials and asses the company's achievements in relation to the goals we set. This provides an opportunity for staff to ask questions and allows the entire company to hear the same message.

As validation of this idea, Deloitte's survey identified that 48 percent of respondents cited loss of trust in their employer, and 46 percent claimed lack of transparent communication from their company's leadership were the primary reasons for pursuing new employment at the end of the recession.

The bottom line is that employees are the one asset a company categorically cannot do without; the retention of key employees is crucial to a company's long-term health and success. As the economy stabilizes, many CEOs and managers are rightfully concerned that their best talent will look for greener pastures at other companies--an occurrence that will only escalate as the economy continues to improve.

2010-09-22T07:44:00.000-07:00

"The person who gets the farthest is generally the one who is willing to do and dare. The sure-thing boat never gets far from shore."

-Dale Carnegie

found on MotivatingQuotes.com

Fast 50

2010-09-21T07:09:00.000-07:00

This is a nice little excerpt from UtahBusiness.com

by Heather Stewart and Candace Little

Here at Utah Business we have one rule of thumb: never underestimate Utah entrepreneurs. The economy may be crumbling under our feet, but many Utah companies have not only remained steady--they have soared. The companies on our Fast 50 list have refused to simply wait out a bad economy; they've introduced new concepts and products, hired workers and expanded operations. Read on to see how some businesses have defied the odds and found the momentum to grow.

Check out Entrepreneur.com's 5 Keys to Growth!

2010-09-20T08:52:00.000-07:00

Contractor Packages 5 Keys to Growth

Accel shares the principles it used to grow from a tiny studio to a company with a worldwide reach.

By: Tara Abraham 09/16/2010

Growing a business and staying successful require a full palette of skills and strengths. As many business owners know, the self-starting, risk-taking entrepreneur who launches a new business idea must also be able to perpetuate that growth as her business scales up and requires more comprehensive processes and procedures.

I believe that long-term success requires staying true to your vision and competitive strengths, understanding your clients' changing needs, and nurturing a creative yet disciplined environment for your people.

At Accel, we value the art and science of contract packaging--combining consistently compelling presentation and engineering efficiencies to assemble and deliver packaged goods that enhance our clients' sales and boost their bottom lines. To make that happen, we must constantly challenge ourselves externally to know our clients' marketplace, and internally to nurture the talented engineers, designers, quality managers and various other operational roles to ensure we exceed our clients' expectations on every project.

In honor of our 15th anniversary, I would like to share five key success strategies that have enabled Accel Inc. to grow from a tiny studio to a 580,000-square-foot company serving the Fortune 500:

Stay grounded to your core competencies. Don't cut yourself off from your roots. Whether a company is enjoying expansion or tightening its belt, staying true to core business strengths is essential to ongoing success.

I have seen many entrepreneurs who have been tempted to diversify too far from their strengths--and who lost credibility with the client when they couldn't deliver. It is much more strategic to diversify in areas that complement your brand and that one thing you do better than anyone else.
For Accel, our key strength is hand assembly. We find the most efficient, economical way to put items together in a gift set, thermoformed package, health-care kit or other package presentation is by hand. (Thermoforming is a manufacturing process where a plastic sheet is heated to a pliable forming temperature, formed to a specific shape in a mold, and trimmed to create a usable product.)

Hand assembly is what we do best. So when we grow our business, it's by expanding our capabilities to support that function. For example, we may purchase a new piece of equipment or add value by helping clients source their containers or packaging materials. This strategy allows us to offer end-to-end services but stay true to our contract packaging and assembly heritage.
Build on your strengths with innovation and flexibility. As a retail-oriented contract packaging company, Accel Inc. had to be innovative in addressing clients' needs as a result of the retail buying freeze in late 2008. In an effort to diversify and grow--but stay true to core strengths--Accel developed a system to receive and inventory one client's "marked out-of-stock" apparel and accessories and hand-sort them to be sold to discount sell-off merchandisers.

Because Accel's engineers designed the process to be automated with the use of computer inventories and conveyors to move the apparel to the different sorting stations, the first sort performed by Accel was 25 percent faster than the client's previous projects. The bulk of Accel's business is seasonal, with an emphasis on preparation for the winter holidays. This new capability leads to additional business throughout the year within the industry because the sell-off projects occur after traditional retail seasons.

We've become adept at building flexibility into our processes on the front end. That isn't easy to achieve because once you develop an internal process to accommodate a client's need, by nature you try to apply that process to improve efficiency across the board. Inevitably, however, Mr. New Client walks in with a completely different need, and we have to decide whether to alter the current process or create an entirely new one.

Our staffing model is a perfect example of a flexible process we have created that helps us remain cost-competitive for our clients. By partnering with local temporary agencies, we have the ability to tailor our work force to our project load.
Put yourself in the shoes of your client. I started out as a merchant for Bath & Body Works. When I couldn't obtain flawless production and quality for our promotional gift sets from contract packagers, I decided to launch a business that would deliver just that, and Accel Inc. was born.

Since then, I have worked to maintain that client perspective, and I believe it has been extremely beneficial in designing new services for our clients.

While many companies say they serve their clients, it takes ongoing discipline to think from your clients' point of view. What do they need vs. what you are selling? For example, we are proud of the artistry we use in designing packages that display our clients' products to great advantage. Yet our real "win" with clients was figuring out how to package products so that associates in retail locations could take them from the shipping box to the shelves without wasting time unwrapping miles of bubble wrap. Accel's engineers figured out a way to maintain quality, reduce packing waste and eliminate unpacking time for salespeople by using a hot-air shrink-wrap. By doing that, we free sales associates to get back on the floor to accomplish what our clients really want: to sell their products.
Treat your employees as well as you treat your customers. From the beginning, Accel Inc. has developed best practices to cultivate and retain talented employees. In the mid-1990s, we were an early mover in creating a diverse workplace--with associates from every continent (except Antarctica), 11 different languages spoken in-house and policies established to respect each culture. Muslim employees have a place for prayer, and Accel celebrates the Chinese New Year annually.

We also leverage technology to create a welcoming workplace. We developed an employee information system for a handheld device. The handheld device puts the employee's information at Accel's fingertips, so the labor manager can welcome the employee warmly and direct him or her based on the worker's previous experience. The manager will take additional time with first-time employees, ensuring that they know where to go and with whom they will be working. Sometimes we have more than 500 employees working in the production area. The device allows us to recognize people by name and work history and gives us an opportunity to make a personal connection first thing in the morning, leading to a more engaged--and productive--team.

Another benefit of flexibility is how it can create a "win-win" employee connection. Many of our part-time or contract employees are grateful for the flexibility--they may have family or other obligations that preclude full-time work but appreciate being part of an environment where their skills are known and where they can come back time and again.
Connect with your community. I am a passionate participant in several philanthropic organizations, including the American Red Cross of Greater Columbus and Ohio Health's HomeReach Hospice Board. I host fundraising events at my home, and Accel Inc. employees participate in community events such as the American Heart Association's Heart Walk. Accel believes that giving back to the community is part of our responsibility as an employer and corporate community member.

Philanthropy shows your clients and employees that you care about a greater good that enhances all of our lives. And at the end of the day, that is what truly defines long-term success.

Tara Abraham is chairman and co-CEO of Accel Inc., which prides itself on providing innovative packaging solutions for the past 15 years.

2010-09-17T10:40:00.000-07:00

(From MotivationalQuotes.com)

"When you know what you want, and you want it badly enough, you'll find a way to get it."

-Jim Rohn

"I am still determined to be cheerful and happy, in whatever our situation may be; for I have also learned from experience that the greater part of our happiness or misery depends upon our dispositions, and not upon our circumstances."

-Martha Washington

An Unexpected Key to Business Success

2010-09-16T07:21:00.000-07:00

Check out this excerpt from Entrepreneur.com!

Your capacity for delayed gratification increases your likelihood to succeed.

By Kristin Wehner Keffeler

February 20, 2009

While slowing down to eat intentionally may not seem on the surface to be directly related to how effectively you're able to run your business, it's actually an ideal laboratory for the success-minded entrepreneur. For most people, eating is something they do mindlessly, and both how and what they eat is almost purely habit. That's also how most people choose to approach their work. But entrepreneurs who find sustaining success are neither mindless nor habitual about their work.

The way people allow delayed gratification with food reveals other things, too. In the 1960s, Stanford University psychology researcher Michael Mischel conducted The Marshmallow Study, which demonstrated how children's self-discipline and choices related to food directly corresponds to success later in life.

During the study, Mischel offered a group of 4-year-olds a marshmallow, but said if they waited for him to run an errand, they could have two. The errand ended up taking about 20 minutes. One-third of the children opted to take the marshmallow right away while one-third ended up waiting for Mischel's return so they could have two marshmallows. Fourteen years later, the children who waited turned out to be more positive, more successful in school and better able to pursue their goals by delaying gratification. The children who did not wait for the extra marshmallow ended up scoring an average of 210 fewer points on SAT tests and were also more indecisive and less self-confident in life.

At first glance, this study might suggest that nature wins over nurture. Mischel, however, discovered if children are taught cognitive tricks, they do better. What this means for you is that it's possible to learn how to make better decisions. You may not always use the right mental tools in the right situation.

For example, some people need to know all the options before they make decisions. These people are called maximizers. They tend to need the best possible option and generally are less satisfied and happy in life. Satisfiers tend to be more satisfied with something as long as it has the qualities they want--unlike the maximizer who wants to examine every possible choice. Once you learn which you are, you can begin to train yourself to use your brain to your advantage and actually make better decisions.

Continue to hone your skills of mindfulness, intention and delayed gratification through all of your daily actions--from when you eat that single raisin to when you can reach for seconds.

Tips For Starting a Business

2010-09-15T08:38:00.000-07:00

Besides checking out our Emerging Business Program, here are a few other tips for a brand new business--

So You Want to Be Your Own Boss...

8 tips to get you going, even if you don't know where to start

By Tamara Monosoff July 19, 2010

Here are 8 Tips to Get You Started:

Take a Stand for Yourself.
If you are dissatisfied with your current circumstances, admit that no one can fix them except for you. It doesn't do any good to blame the economy, your boss, your spouse or your family. Change can only occur when you make a conscious decision to make it happen.
Identify the Right Business for You.
Give yourself permission to explore. Be willing to look at different facets of yourself (your personality, social styles, age) and listen to your intuition. We tend to ignore intuition even though deep down we often know the truth. Ask yourself "What gives me energy even when I'm tired?"

How do you know what business is "right" for you? There are three common approaches to entrepreneurship:

Do What You Know: Have you been laid off or want a change? Look at work you have done for others in the past and think about how you could package those skills and offer them as your own services or products.

Do What Others Do: Learn about other businesses that interest you. Once you have identified a business you like, emulate it.

Solve a Common Problem: Is there a gap in the market? Is there a service or product you would like to bring to market? (Note: This is the highest-risk of the three approaches.) If you choose to do this, make sure that you become a student and gain knowledge first before you spend any money.
Business Planning Improves Your Chances for Success.
Most people don't plan, but it will help you get to market faster. A business plan will help you gain clarity, focus and confidence. A plan does not need to be more than one page. As you write down your goals, strategies and action steps, your business becomes real.

Ask yourself the following questions:
- What am I building?
- Who will I serve?
- What is the promise I am making to my customers/clients and to myself?
- What are my objectives, strategies and action plans (steps) to achieve my goals?
Know Your Target Audience Before You Spend a Penny.
Before you spend money, find out if people will actually buy your products or services. This may be the most important thing you do. You can do this by validating your market. In other words, who, exactly, will buy your products or services other than your family or friends? (And don't say. "Everyone in America will want my product." Trust me--they won't.) What is the size of your target market? Who are your customers? Is your product or service relevant to their everyday life? Why do they need it?

There is industry research available that you can uncover for free. Read industry articles with data (Google the relevant industry associations) and read Census data to learn more. However, the most important way to get this information is to ask your target market/customers directly and then listen.
Understand Your Personal Finances and Choose the Right Kind of Money You Need for Your Business.
As an entrepreneur, your personal life and business life are interconnected. You are likely to be your first--and possibly only--investor. Therefore, having a detailed understanding of your personal finances, and the ability to track them, is an essential first step before seeking outside funding for your business. This is why I recommend setting up your personal accounts in a money management system such as Mint.com to simplify this process.

As you are creating your business plan, you will need to consider what type of business you are building--a lifestyle business (smaller amount of startup funds), a franchise (moderate investment depending on the franchise), or a high-tech business (will require significant capital investment). Depending on where you fall on the continuum, you will need a different amount of money to launch and grow your business, and it does matter what kind of money you accept.
Build a Support Network.
You've made the internal commitment to your business. Now you need to cultivate a network of supporters, advisors, partners, allies and vendors. If you believe in your business, others will, too.

Network locally, nationally & via social networks. Join networks like NAPW.com, your local chamber of commerce, or other relevant business groups. Here are some networking basics:

- When attending networking events, ask others what they do and think about how you can help them. The key is to listen more than tout yourself.
- No matter what group you join, be generous, help others and make introductions without charging them.
- By becoming a generous leader, you will be the first person that comes to mind when someone you've helped needs your service or hears of someone else who needs your service.
Sell By Creating Value.
Even though we purchase products and services every day, people don't want to be "sold." Focus on serving others. The more people you serve, the more money you will make. When considering your customers or clients, ask yourself:

- What can I give them?
- How can I make them successful in their own pursuits?
- This approach can help lead you to new ways to hone your product or service and deliver more value, which your customers will appreciate.
Get the Word Out.
Be willing to say who you are and what you do with conviction and without apology. Embrace and use the most effective online tools (Twitter, Facebook, YouTube, LinkedIn) available to broadcast your news. Use social networks as "pointer" sites; i.e., to point to anything you think will be of interest to your fans and followers.

Even though social networks are essential today (you must use them!), don't underestimate the power of other methods to get the word out: e.g., word-of-mouth marketing, website and internet marketing tools, public relations, blog posts, columns and articles, speeches, e-mail, newsletters, and the old-fashioned but still essential telephone.

If you take these steps, you'll be well on your way to becoming your own boss. It's important to remember that you are not alone. If you want to "be your own boss" but you still feel stuck, reach out and connect with other entrepreneurs in a variety of ways. You may be surprised by the invaluable contacts that are right at your fingertips.

Davinci has Partnered with UTC!!

2010-09-13T10:42:00.000-07:00

Davinci has partnered with the Utah Technology Council (UTC), Utah’s premier professional association. UTC has become the essential business resource for life science, high-tech and clean tech companies seeking to achieve greater success. At its core, UTC exists to foster the Growth of the state’s more than 5,700 technology companies. Members join UTC to share insights with industry peers, counsel with government and academic leaders, and receive help from professional service providers and funding resources.

Beginning September 1, 2010, Davinci clients are eligible to join UTC for $10.00 per month for technology companies & $42.00 per month for non-technology companies. These rates are 1/2 the normal membership pricing.

Below are just a few of the upcoming UTC events: (events are often hosted in Davinci centers):

9/8 Roundtable with Senatorial Candidates

9/14 UTC Clinic “Two Keys to Success: Protecting Company Brands and Technologies and Licensing Software”

9/16 Life Science Workshop “The Impact of Laboratory Automation on Quality, Productivity, Compliance and Business Opportunity”

9/17 CTO P2P Forum “Big Data: This ain't your father's database”

9/23 HR P2P Forum “Building a Motivated Workforce and Leadership Culture”

9/29 Member Orientation

10/29 UTC Hall of Fame Celebration

Learn more about UTC at www.utahtech.org. To join or for questions, please contact Mark Lehnhof (mark@utahtech.org 801-568-3500), or Sam Souvall at (ssouvall@davincisuites.com 801.990.3100).

The Small-Business Bill

2010-09-13T07:15:00.000-07:00

This relevant article is from Entrepreneur.com:

What You Need to Know About the Small-Business Bill

The Small Business Jobs Act is expected to finally pass this week, but what will it really do to help entrepreneurs?

By Gwen Moran September 13, 2010

The Small Business Jobs Act is poised for a full Senate vote this week after amendments are approved as expected. The package includes plenty of goodies, including tax breaks and a $30 billion Small Business Lending Fund, but also measures that could have some small-business owners worried.

Before it becomes law, the bill must be resolved with the small-business legislation passed by the House of Representatives in June.

"We do expect the bill to pass on Tuesday night, but it still has a long way to go to become law," says Molly Brogan, vice president of public affairs for the National Small Business Association, a small-business advocacy organization in Washington, D.C.

Still, the legislation has widespread support from a host of small-business interests and is expected to become law before midterm elections in early November. Here's a look at what the bill, if passed, could mean for your business, including the potential potholes that you could be facing down the road.

Small Business Lending Fund: You might have better luck getting a loan from a smaller lender. A Small Business Lending Fund would provide up to $30 billion in capital to financially sound small banks with less than $10 billion in assets to encourage them to lend money to small businesses. Participating banks would have an incentive to lend to small business: If they increase lending to small business 10 percent over the previous year, they would pay as little as 1 percent on the capital they acquire from the fund.

State Small Business Credit Initiative: This provision could help you out if you live in a state that has a successful small-business lending program and can show how your loan could help create jobs. States with such programs facing cutbacks due to tight state budgets may be eligible for funding to continue them. The grant pool would total $2 billion, but states would need to show that there has been at least $10 in new lending for every $1 in federal grant money they receive. In addition, they would be required to use their funding to work with private lenders to extend more credit to creditworthy small businesses and manufacturers who need the money to create jobs. The administration estimates that the $2 billion pool could generate $20 billion in new lending.

Support of Small Business Administration Lending Programs: If you've been seeking an SBA loan, you could stand to benefit from this measure. The bill would extend provisions that amped up SBA lending guarantee programs and fee reductions that recently expired. In addition, the bill would increase the maximum loan size for the SBA's 7(a), 504, and microloan programs. The 7(a) and 504 loan program maximums would bump from $2 million to $5 million and the microloans would increase from $35,000 to $50,000. Loans made under the SBA Express program would temporarily increase from $300,000 to $1 million. It also includes a temporary allowance for small-business owners to use 504 loans to finance certain mortgages to avoid foreclosure.

Tax Incentives: Startups, this one's for you. The bill would raise new-business expense deduction thresholds from $5,000 to $20,000 in 2010 and 2011. In addition, qualifying small-business investments -- primarily those in corporations with less than $50 million in gross assets and held for more than five years -- would be exempt from capital gains tax. The general business credit, which now can be carried back to relieve the previous year's tax liability, would be extended to a five-year carry-back.

Increased Deductions: Business owners would be able to write off the whole cost of acquiring property immediately instead of over time. For 2010 and 2011, this change to "Section 179 expensing," so-named for a section of the Internal Revenue Service code, would allow taxpayers to write off up to $500,000 in capital expenditures. Expenditures over that amount would phase out, up to a ceiling of $2 million. The bill would allow taxpayers to expense up to $250,000 of the cost of qualified improvements on leased property, restaurant property, and improvements to retail-business property. Business owners could also deduct the cost of health insurance for themselves and their families when calculating self-employment taxes.

Increased Export Support: Doing business overseas? The bill contains provisions that might help government agencies help you more. It would increase support to the Office of the U.S. Trade Representative, which plays a key role in promoting U.S. exports, creating staff positions there and at the Department of Commerce, while increasing funds to promote U.S. exporters and fund export grants available to industry associations and nonprofit organizations. The bill also would create the State Export Promotion Grant Program to support small, export-minded businesses and enhances efforts at the SBA to encourage export businesses.

But the bill isn't all roses for small-business owners. Some provisions to pay for the bill, particularly higher Internal Revenue Service penalties, could end up stinging small-business owners who are generally known as a group for tending to run afoul federal tax rules.

The bill would increase penalties for failure to file timely information with the IRS.
The first-tier penalty for failing to file tax returns would increase from $15 to $30, and the calendar-year maximum penalties would increase from $75,000 to $250,000.
The second-tier penalty would increase from $30 to $60, and the calendar-year maximum would rise from $150,000 to $500,000.
The third-tier penalty would rise from $50 to $100, and the calendar-year maximum would be raised from $250,000 to $1.5 million.
The minimum penalty for each failure due to intentional disregard would increase from $100 to $250.
Penalties for failure to file information returns to payees, such as 1099s and W2 forms, would also increase.

This last provision, particularly in regard to 1099 forms, is a source of concern to some of the bill's critics. New 1099 reporting requirements passed as part of the Patient Protection and Affordable Care Act may dramatically increase the number of 1099s businesses need to process beginning in 2013. This key sticking point is tied to health care reform, which included a major change in how businesses report spending, requiring every business which spends in excess of $600 with a merchant, vendor, contractor, or supplier to issue a 1099.

Despite the reservations of the provision's critics, the bill has the support of 187 business and trade groups, including the National Federation of Independent Business, and is expected to pass, after a Republican vote was secured last week.

"There are a ton of provisions in this bill that the small-business advocacy groups across the spectrum have been advocating for years. It's really amazing that they're all together," says John Arensmeyer, chief executive of Small Business Majority, a small-business advocacy organization in Sausalito, Calif. "It's truly a bipartisan bill that is tremendously beneficial to small business."

Overcoming Anxiety Before a Business Presentation

2010-09-10T07:31:00.000-07:00

Our clients at Davinci are thriving business people. They often give presentations and conduct meetings in our conference rooms. We're proud to assist in our clients' professional image and progress due to our services. We hope that our services induce confidence in them during their Big Presentation or their Big Meeting.

The following excerpts from an Oxford Brookes University article provides a few internal ways for the presenter him- or herself to boost his/her confidence for the Next Big Presentation:

Overcoming Presentation Anxiety

Taking control:

The key to success is to think positively; take control of your stress and anxiety by learning effective techniques to combat it.

Relaxing bodily tension in order to reduce the physical sensations of stress is a good place to start. If your body is free of tension your mind tends to be relaxed. This helps you concentrate and perform better, take decisions and solve problems. When you are relaxed, you can view each task as a positive challenge, and use stress as a stimulus to help you to carry it out .

Breathing exercise:

Place one hand on your chest and one on your stomach. As you breathe in through your nose allow your stomach to swell. This means that you are using the diaphragm to breathe in and allowing air right down into your lungs. Try to keep the movement in your upper chest to a minimum and keep the movement gentle. Slowly and evenly breathe out through your nose. Repeat and get a rhythm going . You are aiming to take 8-12 breaths a minute: breathing in and breathing out again counts as one breath. Practise until it becomes a habit and switch to regular breathing when you next become anxious.

Practice

The more you do the more you'll feel like doing and the better you are likely to be.

Pretend! Act as if you are not feeling self conscious.

If you make a mistake, use it to help in the future. Don't let it drag you down.

On the day

Refer back to your breathing exercises and concentrate on using them to defuse your anxieties and reduce the chances of shaking or sweating.
Think positively, challenging those negative thoughts like "I'm stupid", "I can't do this". Replace them consciously with "I can do this". Remind yourself that what feels like an enormous problem to you probably isn't to those watching.
A useful technique that can help stop worrying thoughts crowding in is to visualise a "stop sign" or draw a red dot on your work. As soon as you become conscious of your worrying thoughts, concentrate on your "stop" message. This helps keep you focused.
Focus on the content of your talk. As your turn approaches take some deep breaths letting go of as much tension as is possible. When it's your turn to take centre stage use the adrenaline rush to feel alert and focused.
If you feel yourself blushing, ignore it and reassure yourself that it will die down once you've got going ! Say to yourself that you are not likely to be marked down for turning pink.
Slow your speech down, it helps you feel in control.
Using drugs of any sort (alcohol, stimulants, even too much caffeine) to "get through" can adversely affect performance leaving you even less able to perform well. Facing your fear now will provide you with a skill for life.

Good news about our Budget Deficit, says UtahBusiness.com:

2010-09-09T07:32:00.000-07:00

Utah’s Fiscal Year 2010 Budget Deficit Much Less Than Anticipated

by PR or News Wire 09 September 2010—

Preliminary figures indicate Utah's budget deficit for Fiscal Year 2010 will be just under $28 million--well below previous forecasts.

These latest numbers are yet one more sign that Utah's economy is turning the corner," Governor Gary R. Herbert said. "This is good news, and shows that Utah continues to lead the nation in prudent fiscal management, careful budgeting and positive response from the private sector."

Financial IQ

2010-09-08T10:18:00.000-07:00

Does this sound like you? Check out the rest of the article in the title's hyperlink for more information!

How to Improve Your Financial IQ

Entrepreneur.com author Peri Pakroo sees "two main types of financial blow-off:"

1. Fully neglecting to track income and expenses by letting receipts pile up (or get lost) and failing to enter data into a bookkeeping system.

2. Doing a decent job of keeping income and expense records up to date, but failing to use the numbers to answer questions about the business's financial situation.

Are these true statements?

Obama to Back More Business Tax Breaks

2010-09-07T13:06:00.000-07:00

Look what President Obama Passed! Is this a good thing for your business, or not? This article is from www.news.yahoo.com

Official: Obama to back more business tax breaks

By JULIE PACE, Associated Press Writer Julie Pace, Associated Press Writer

WASHINGTON – President Barack Obama will call on Congress to pass new tax breaks that would allow businesses to write off 100 percent of their new capital investments through 2011, the latest in a series of proposals the White House is rolling out in hopes of showing action on the economy ahead of the November elections.

An administration official said the tax breaks would save businesses $200 billion over two years, allowing companies to have more cash on hand. The president will outline the proposal during a speech on the economy in Cleveland Wednesday.

Amid an uptick in unemployment to 9.6 percent, and polls showing that the November election could be dismal for Democrats, Obama has promised to propose new steps to stimulate the economy. In addition to the business investment tax breaks, he will also call for a $50 billion infrastructure investment and a permanent expansion of research and development tax credits for companies.

(The title is a hyperlink to the rest of the article.)

Growing Your Small Business With Social Media

2010-09-02T12:10:00.000-07:00

Here is an exerpt from an article by Hilarye Fuller from UtahBusiness.com--check it out! It has some interesting points. The entire article is in the title's hyperlink.

Secrets to Online Success

Grow Your Presence Using Social Media

by Hilarye Fuller

02 September 2010—

Social media is more than just a buzzword used by marketing professionals. It’s a vehicle that has taken off and changed the way millions are using the Internet, not only in their personal lives but in their professional lives as well. While blogging, chat rooms and forums have been around since the late 1990s, social networking sites have really only taken off in the last few years with the most significant growth occurring in 2008 and 2009. According to Facebook Advertising, there are currently more than 87 million users on Facebook with almost 800,000 just in Utah. According to Mashable, Twitter is also estimated to have more than 18 million users by the end of the year. For today’s entrepreneurs, social media can be a goldmine.

Work Hard, But Work Less?

2010-09-01T10:50:00.001-07:00

Check out this article that promotes business balance at Entrepreneur.com !

Work Less (It's Good for Business)

Doctors told Brett Schklar to slow down--or else. That's when he started his own company and learned that paying more attention to life off the job made him much better on it.

By David Port Entrepreneur Magazine - December 2009

Brett Schklar was a fast-rising, burn-the-candle-at-both-ends kind of executive. So naturally, he was on a business trip the day of his 31st birthday.

His career as a vice president at a promising tech company was flourishing, and if that came at the expense of time with his family, time spent taking care of himself, time to even pause to celebrate his 31st, well, he was willing to make the sacrifice.

But something happened that day to make him question all that: He had a heart attack.

"Doctors told me I have a condition that needs monitoring, and that stress is a particularly important factor," he recalls. "I needed to work less and reprioritize. I had to change my lifestyle--diet, exercise, everything."

Suddenly, he had no choice: He eased off the accelerator both personally and professionally, focused more on his family and young son and cut back on the 80-hour workweeks, the constant travel and the late-night, bedside text messaging.

And he started his own business.

It was a move that almost sounded like a death wish. Entrepreneurs are notorious for working obsessively, and getting any startup off the ground requires a round-the-clock commitment. Or so the prevailing wisdom goes. But Schklar decided he was going to do things differently. In February 2006, just four months after he was rushed from his Seattle hotel room to a nearby hospital, he launched the Market Creation Group, a Denver-based business-to-business technology marketing firm, and he did it while working less. Today the business is thriving and growing, and Schklar is living proof that what the work/life experts tell us and what we never quite believe--that paying more attention to our lives outside of work makes us better workers--is actually true.

Some of the latest evidence comes from a study involving the Boston Consulting Group and the Harvard Business Review. During a four-year span, BCG consultants who took designated periods of time away from work--what the researchers call "predictable time off"--reported greater satisfaction with their jobs and their work/life balance than did colleagues who didn't take predictable time off. And in the end, according to the study's authors, the participating consulting teams delivered a better product to clients. Their conclusion: "New ways of working can be found that benefit not just individuals but the organization."

The approach is bearing fruit for Schklar: Revenue at Market Creation Group has increased 961 percent since 2006 and is projected to exceed $1.5 million in 2009. While most companies have retrenched or are struggling to maintain the status quo, Schklar's firm is expanding, with plans to open an office in Dallas before year's end.

Changed For Good
People who know Schklar are surprised by just how much the heart attack changed him.

"Here's a guy who was 'on' 24/7. Even after his heart attack, I was sure he would jump right back into that mind-set," says Nina Piccinini, a close friend and colleague of Schklar's and manager of communications for Verio, a Denver web hosting firm and MCG client. "But he made a decision to kick it down a notch, he stuck to it, and he's been very successful doing it his way. I have a great deal of respect for what he's been able to accomplish. It's inspiring."

Now 35, Schklar is hardly the distracted bundle of nervous energy one might expect to find running a marketing outfit that was recently named Denver's fastest-growing private company. He is the relaxed, focused and grounded eye at the center of a whirlwind success, a sharp, engaged conversationalist who seems comfortable in his own skin.

"There's a sense of calm about him now -- that nothing is going to rattle his cage," Piccinini observes. "I think he realizes his success is completely in his control."

In fact, things began to change for Schklar when he decided to take control of his life, starting with taking a hard look at himself.

"I realized the reason I had a lot of stress in the corporate environment is because I didn't fit in that environment," Schklar says. "I came to understand that my real passion is getting things done in ways that probably aren't always acceptable in a corporate setting, like saying what's on your mind, actually telling people when you think they're going about something the wrong way, and trying to help them find a better way to do it."

He decided that what's important in life and in business is as simple as figuring out what you love, and pursuing it: "The way to grow is to do what you love to do. Invest in it. Build it. Be willing to take risks. Keep ethics and the best interests of the people around you in mind. And don't always focus on the money."

The Humane Office
On a recent day, two receptionists greet visitors to the Market Creation Group offices. One rises from behind her desk and introduces herself as Shay, offering a handshake and bottled water. The other is Bear, a chocolate lab, who offers a sniff and the top of his head for a pat.

A pets-are-welcome policy is one way Schklar reinforces the importance of work/life balance at MCG. Having their hounds around, he says, lets people relax and bring a piece of home with them to the office. But Schklar also encourages his employees to bring a piece of the office home with them when the need arises; several members of the MCG team are telecommuters and all the firm's employees have the flexibility to work remotely.

"Other people work more, have fewer employees and take home a lot more money than I do," he acknowledges. "A few years ago, that might have been me. Not now. I still bust my ass and work long hours when I need to, but I'm not here sunup to sundown everyday. That, more than words, is what drives the culture here. I want people here to know they have freedom and flexibility, because I think it helps them work better."

Taking a cue from their boss, MCG employees are encouraged to carve out time for other pursuits, whether it's getting a lunchtime massage--membership at a local massage parlor is one of the fringe benefits of working there--or taking an afternoon off to be with family. "Everyone here works hard," he says. "But that doesn't mean work dominates our lives. The reward for doing our jobs well and delivering consistently great work to our clients is that we don't always have to be stressed about work. It's about maintaining what I call a 'quality balance.'"

Besides spending time with his son, Ari, Schklar finds that balance through being involved in the local arts district (MCG's offices are surrounded by galleries and filled with work by local artists), and serving as a fundraiser and speaker for the American Heart Association. "It's amazing," he says, "how many people who, after hearing my story, have gone and gotten a physical."

The businessman in Schklar attributes MCG's meteoric rise to starting with a clear vision of the niche the company would fill and how it would go about exploiting it. The niche revealed itself while Schklar was recuperating from his heart attack, during a brief stint as a marketing consultant.

"What I saw with B-to-B technology startups is that marketing typically is the last thing on their minds," he says. "They really need a rent-a-VP-of-marketing-type person."

So Schklar started touting himself as that person. Within a couple months, he had several new clients on retainer. MCG was born, with a reborn Schklar at the helm.

In plotting a course for the company, he wanted to build it around the concept of providing "virtual marketing executives" to help tech firms go to market. It wouldn't be a marketing consulting firm that "charges ungodly amounts of money" to startups that can't afford it, or a web design agency that thumbs its nose at "boring" B-to-B work.

Sticking to that vision helped MCG grow, even during the depths of a recession. Now the 10-employee firm has both startups and large corporations as part of its national client base.

"We understand the marketplace," Schklar says. "It's all we do and all we are passionate about. We know how to use e-marketing, social media, things like that, in a B-to-B context to help companies grow. People are dying for that kind of help."

Work Smarter, Not Longer
Brett Schklar built Market Creation Group into Denver's fastest-growing private company by working fewer hours and relying on shrewd planning and execution. Some of the keys:

Make sure somebody needs what you are offering. Identify a niche--a void your company is uniquely positioned to fill--and exploit it.

Define the types of clients you want. And avoid the ones you don't. They're not worth the trouble.

Tap your network. Known quantities offer fewer unpleasant surprises.

Hire people to bolster your weaknesses. The goal is to build a balanced, highly capable staff.

Plan, plan and plan some more. "It's about having a big, awesome long-term vision, plus a staged approach to growth," Schklar says.

Make team members privy to your company strategy. "That gives everybody a compass," he explains, "and leaves less room for error."

Deliver superior work. Satisfied clients are sticky clients. In 2008, Schklar notes, Market Creation Group doubled its revenue without adding a single new client.

David Port is a freelancer based in Denver who writes on small business, and financial and energy issues.

Your Business Planning Should Include Our Emerging Business Program

2010-08-30T11:42:00.000-07:00

This is just what Davinci is all about! If this article from www.entrepreneur.com is for you, then you must check out our Emerging Business Program!

5 Easy Ways to Kick-start Your Business Planning

Don't know where to start with your plan? Here are some tips to get you going--today.

By Tim Berry August 26, 2010

Have you been putting off the business planning? You know who you are. Do you mean to start managing better, but keep getting distracted by fires to put out? Here are five quick and easy ways to start planning today.

Do a SWOT Analysis
SWOT stands for strengths, weaknesses, opportunities, and threats. It's a great way to break out of that planning inertia. It's especially good when there's a team involved. Take an hour or two and jot down bullet points under each of these four categories.

Don't spend all day, much less all week. A couple of hours should work fine.

Don't argue about what goes where. Don't criticize contributions. It's brainstorming. Just jot down the points and record them. Strategy follows. You can't help it. You do a SWOT, and strategy follows.

And now you're planning.

Compare plans to actual sales.
Think through what turned out differently and what didn't, and why. Soon, you'll be thinking about your marketing strategy, target markets, marketing messages, customers, channels, packaging, delivery, complaints and competitors. I'm amazed at how much of business, and the business planning process, pivots around the difference between planned and actual sales.

And now you're planning.

Talk to 10 well-chosen people
Funny how much time goes by for most business owners without really talking even to your customers, much less to a few people who aren't your customers but could be. I was shocked the first time I did it. I felt like I talked to customers often, but that's nothing to what you get when you dedicate time and have a real conversation.

First make a good list. Don't cheat yourself and talk only to the people you always talk to anyway. Stretch yourself further and find some people you don't know, so you get a fresh look. Ask them for their time, not as a survey taker but as the owner or manager of the business. A lot of people will turn you down (I probably would), but if the conversation is framed right, you'll find some people interested.

Start the conversation with interesting questions. The first couple of questions are critical to the success of the talk. Grab their interest. Wake their curiosity.

And now you're planning.

Imagine a customer story
That's right: I say "imagine," not find or tell a customer story. This isn't a testimonial for use by marketing.

Imagine your ideal customer. Give her a gender, occupation, family (or not), children (or not), route to work, favorite magazines, television shows, hobbies, websites, music, and movies. If she owns a car, what make, what model. Imagine favorite vacations.

Now imagine how she finds your business. What does he like about you, and what does she dislike? What prompts him to look for you. Where does she look? What does he tell other people about your business?

How do you want to be described by your customers to their friends? What do you want to make them set you apart, in their minds?

Think about that, imagine that, and now you're planning.

Visualize a better future
Where your business might be three years from now if things go really well. What will your office or store or plant look like three years from now? What will you be selling? How different is it from what you're selling today? Who will you be selling too? How different will that be from who you sell to today?

Some would call this dreaming. But dreaming ahead, dreaming the future, is a vital part of business planning. Dream it, then focus, set the steps to make it happen. Then track and follow up, and manage.

And now you're planning.

Tim Berry is the "Business Plans" coach at Entrepreneur.com and is president of Palo Alto Software Inc. , which produces the industry's leading business planning software, Business Plan Pro, as well as other popular planning applications for businesses. He is the author of The Plan-As-You-Go Business Plan and co-author of 3 Weeks to Startup with Sabrina Parsons, both published by Entrepreneur Press.

I think a great addition to the "Visualize a Better Future" section is our Emerging Business Program information.

You Are What You Think

2010-08-24T07:15:00.000-07:00

Scott Halford, author and speaker, believes that You Are What You Think. His article posted on www.entrepreneur.com claims that "you can create your perfect world if you know what you're looking for and--perhaps more importantly--if you pay attention to how your brain is fed."

Our philosophy at Davinci Suites is to help our clients and their businesses work smarter and increase success. This article encourages such a mindset: (You can read the entire article by selecting the blue hyperlink above.)

According to neuroscience studies, the adage that you should "be careful what you ask for" has more teeth to it than you might imagine. Your brain is very good at attending to whatever you direct it to....

Thoughts, goals and ideas work the same way, and you can increase your brain's considerable input on them if you learn to ask your brain nicely and deliberately to get involved. You can create your perfect world if you know what you're looking for and--perhaps more importantly--if you pay attention to how your brain is fed.

This process works with negative thoughts, as well. As I teach in classes on emotional intelligence, crap will find you all day long, especially if you expect it. It will parachute into your office without an invitation and typically won't leave when you want it to. You don't have to go looking for it. It will find you. If you are dwelling on the bad stuff, it will find you more quickly and readily, and you won't be primed for the things that will make you successful. Good things need to be noticed. We generally have to be more deliberate about the positive. Your brain will help you find innovative ways to do it. Just prime it, and it will be there for you.

Halford continues with a few tips "on how to make your thoughts work for you."

Try this concept out, see how it works for you this week...

Utah's Long-Term Growth

2010-08-20T07:51:00.000-07:00

This article is a wonderful, optimistic end to a great week here at Davinci Suites! You can read the entire PR Wire article at Utah Business Articles' "Long-Term Growth" , but here is an excerpt...

Utah's long run economic performance has been stellar. No other state has consistently ranked among the top five in the rate of employment growth over the past 60 years. Whatever starting year one chooses Utah will rank among the top five states in employment growth. Take the 1950 to 2009 period. Over those 60 years nonfarm employment in Utah increased by 534 percent, ranking the state fifth among all states. The average annual growth rate over this period was 3.2 percent for Utah compared to 5.3 percent for Nevada, the fastest growing state, and 4.7 percent for Arizona. The phenomenal growth of Nevada and Arizona began with the postwar emergence of defense contracting, gambling and air conditioning. In 1950 Nevada's nonfarm labor force totaled only 53,000 compared to 187,000 in Utah and 160,000 in Arizona.

Have a safe and fantastic weekend!

10 ways to GROW your company in spite of tough times

2010-08-16T07:37:00.000-07:00

Check out this article from www.entreprenuer.com !

Strategies to Refuse the Recession

10 ways to grow your company in spite of tough times

By Paul Spiegelm

I saw a bumper sticker the other day that said "Refuse to Participate in the Recession." I have no idea if that driver had a job or was looking for one, but he was obviously electing to make the most of the challenges he faced.

Many say the U.S. economy is still in a recession based on the fact that unemployment is still high and consumers are continuing to temper their spending habits--two elements that define a recession. However, anyone with the desire to be an entrepreneur has to have the attitude of my friend with the bumper sticker.

So how does an entrepreneur succeed in a recession?

Become Indispensable
In a tricky economy, it's natural for people to want to protect the security they still have. In the service industry, one way to prove that your product or service is part of the solution is to point out the consequences that could occur if the service was not around. Try "secret shopping" your customers and document the outcomes; then secret shop a business that doesn't use your service or product. If there's an obvious difference, use these stories to sell your business back to your customers.
Invest in the Future
Most recessions last only a year or two. Companies that fail to continually invest in business improvements, training and marketing are way behind when the economy recovers. In terms of training, consider how to cross-train your team members while business is slow. It may enable you to perform better later on.
Seek Out Referrals
Nowadays, many businesses assume there are no sales to be made, so they stop trying and sit on the sidelines. While sales may be harder to come by, make contacts now so they will pay off later. Furthermore, if you're pulling back on your advertising budget, referrals may be your best bet for generating customers. You should also create a program that rewards current customers for referrals.
Buy Weaker Companies
If you can manage the integration process, a down economy can be a great time to acquire a business.
Strengthen Your ROI Pricing Offers
Customers often question the cost of a product or service because they can't always tie it to a result, and that scrutiny only increases in a bad economy. Offer pricing related to specific results. For example, I heard of a PR firm that only charges for placements, not advice, writing or strategy development. This approach enables the agency to charge more for its services, but customers know upfront what they're getting.
Be Loyal and Focus on Retention
When the recession is over, your employees will be more likely to stick with you. This may mean eliminating free coffee, for example, but have an honest conversation with your employees, and they will usually help you cut costs even further.
Maintain a Fun Environment
When companies cut out the fun, it can negatively impact employee job performance. If you've sponsored parties at work for years, continue these events. A consistent culture will encourage your staff to provide consistent service to your customers.
Celebrate Being Small
Many smaller firms are more nimble than larger firms because they aren't loaded down by multiple management layers and overlapping operating units or debt, so they can make decisions quickly and focus their cash to take advantage of new opportunities.
Don't Leave Room for Doubt
Competitors will take advantage of any opening, and they will be more aggressive in making promises during the recession, even if it means filling in your silence with a few tales of their own. Don't open doors for them by closing down communications with your customers. Instead, increase the frequency of communications with your customers.
Fight the Urge to Give Things Away
If you've been giving products and services away, it will be hard to charge for them again when the recession ends. Remember, if your product or service carries a benefit, it's worth charging for, even during a recession. However, for longtime customers who are having a hard time paying their bills, offer discounts and settlements. Offer this option as a one-time benefit, though, to get things current.

Bonus Tip: Drop Unprofitable Customers
The natural urge is to hang onto every customer, but use the spare time the recession provides to analyze your customer base and find out which ones are the most profitable and which ones are costing you money.

Recessions aren't fun, but they don't have to cripple your business. Smart business owners leverage recessions rather than lament them.

Paul Spiegelman is a speaker and author on customer service, culture and workforce engagement. As CEO of The Beryl Companies, he oversees the nation's leading company in healthcare customer interactions and relationship management. Paul has been named CEO of the Small Giants Community, a nonprofit organization dedicated to supporting companies that choose to be great instead of big. This role is a natural extension of his first book, Why is Everyone Smiling? The Secret Behind Passion, Productivity and Profit, published in 2007.

http://www.entrepreneur.com/management/columnistpaulspiegelman/article207236.html

Emerging Business Program

2010-07-13T10:03:00.000-07:00

Davinci Suites is excited to announce the official launch of our Emerging Business Program! See the article below:

Davinci Suites Announces the Opening of Four Emerging Business Campuses2010-07-13 11:25:02 -
Starting a new business, especially in a down economy, can be an overwhelming endeavor for anyone. Without the proper resources and support, success is not always guaranteed. Davinci Suites : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww .. aims to make starting something a little easier and less stressful with its new Emerging Business Program.Designed to help those who have already had success in starting a business and are looking to start something new, or the first time entrepreneur with the next big idea who is looking for space outside the home to work, the Emerging Business Program from Davinci Suites provides the support and necessary resources to help you become successful. Along with the Emerging Business Program, Davinci Suites will offer co-working space in all its locations. Co-working involves a large common space in which different businesses can work side-by-side in a social and collaborative environment designed to facilitate the open flow of ideas.“Our new Emerging Business Program offers a tremendous value and provides you with everything you need to help you become successful,” said Sam Souvall, president of Davinci Suites. “In today’s tough economic climate, having the right partners and resources, whether you’re established or starting something new is key. You can now work smarter with Davinci Suites Emerging Business Program.”With rates starting at $49.95, the Emerging Business Program from Davinci Suites provides everything you need to start and grow a business, including.- Full-time work space for only $49.95 a month- Everything you need to launch and grow your business- Access to, and collaboration with other small businesses- Four prime locations in the Salt Lake ValleyThe new Davinci Suites Emerging Business Program will be available at the Cottonwood, Sandy, South Valley and Sugarhouse, Utah, locations, and is designed to engage businesses in the beginning stages of their growth and provide them the resources they need to succeed.For more information on the new Emerging Business Program, please visit Davinci Suites : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww .. , or call 1-866-468-3016.Radi8 CreativeMary Kay Crocker, 801-592-5575 marykay@radi8creative.com : mailto:marykay@radi8creative.com

Proven Strategies for Multiplying Profits - Entrepreneur.com

2010-06-08T11:46:00.000-07:00

Check out this article from Entrepreneur.com by Brad Sugars: http://www.entrepreneur.com/article/printthis/206856.html
---

In past columns, I've talked about the "5 Ways": a simple formula designed to multiply profits no matter what type of company you may want to (or currently) own.

When I talk about the "5 Ways," I am saying that there are only five ways to truly grow your business: getting more leads, converting those leads into customers, getting customers to make bigger purchases at higher price points, getting them to buy more often, and getting more sales at higher profit margins.

If you increase all of those factors by just 10 percent, you can give your bottom line a massive boost.

But how can you do this simply and cost-effectively?

In general, you want to focus on the "lowest-hanging fruit" in your business. That means you can work the "5 Ways" backwards and start with your profit margins first. In most cases, this means you focus on lead generation last, since it is the most costly way to leverage your efforts. Unless the other numbers are in place, you could end up wasting your efforts and resources.

I want to share five simple, proven (and low-cost) strategies you can use immediately to get those increases to start feeding more profit to your bottom line.

The best part? Most of them involve resources you probably already have in your business, or little "tweaks" to strategies you may be using or have used in the past.

To increase your profit margins:
1. Find your bestselling product and increase the price by 10 percent. If you don't know what your strongest product is (or what it could be), now is the time to find out. Once you figure it out, boost the price on that item or service by 10 percent. It's an increase so small, most people won't even notice. If someone does notice and gets irate, you probably don't want them as a customer anymore anyway.

To increase your average dollar sale:
2. Create sales scripts for you (and your salespeople). Sales scripts help to frame your sales process, especially if you don't consider yourself a natural "salesperson." The sales script should also help initiate and build rapport, which leads to higher sales.

To increase your average number of transactions:
3. Create loyalty and referral programs. While a lot of companies use this strategy, many don't use it correctly, or lose out on the opportunity to create additional value from these programs. To get the most out of a reward program, it should be targeted at your highest-yield customers--those truly loyal customers who don't haggle on price. This involves some due diligence on your part for segmenting your customers. Done right, you can create both a rewards program and a referral program that is profitable vs. one that simply defaults to discounts or giveaways.

To increase your conversion rates:
4. Create a guarantee, especially if none of your competitors have one. Guarantees are great ways to covert customers and establish long-term customer relationships. This is especially true in categories where guarantees are hard to "guarantee"…or in industries that don't offer any. For example: An IT company worked for more than a year to develop a guarantee of service and performance they could back up and honor. The result is that they are the only company in the city that can advertise and claim a guarantee. Not only has this boosted their referral rate among current clients, but it has also helped increase the company's number of qualified leads.

To increase your number of leads:
5. Test and measure low-cost ways first; then move to paid advertising. As I said before, lead generation is actually the most costly of profit-boosting strategies, so start with low-cost ways you can track for results before you start spending thousands of dollars on an advertising or PR campaign. What's low cost? These days, it could be as simple as a direct-response ad in a newsletter or trade publication. Online is also a great way to go, with a good website and online classifieds leading the way for low- or no-cost lead generation. The key is to make sure you are on target with your media and your audience, you have a compelling offer, and your copy is both sales- and response-oriented.

Remember, you are looking for incremental increases at the start to begin to see results in your bottom line. A 10 percent increase in each of these areas will make a significant impact on your profits as long as you keep your costs in check.

Why today is a good day to start a start-up

2010-05-24T07:48:00.000-07:00

Starting a new business always comes at a risk -- about half of small businesses fail within their first five years. It is also not an easy time to start one, given tighter lending standards, higher energy and food prices, and weaker consumer spending. Yet these types of conditions certainly didn't stop Bill Gates from starting Microsoft in 1975, during another grim recession.

The truth is, starting a business right now could be smarter than ever. While corporate America is by and large still hunkered down, taking few risks, there may be some advantage in the versatility of a start-up. But even better, here are three big reasons why this might be the right time to take the leap:

1. Rents are low. With hundreds of commercial properties sitting empty and landlords reevaluating their pricing, you may be able to get into an excellent space for cheaper than ever. You may also be able to negotiate more agreeable terms on the lease than in stronger economic times, such as shorter terms or lower increases. Or, if it isn't time to get your own space just yet, a virtual office or executive suite may be for you. With flexible terms, affordable leases, and turn-key services, providers of such services are often a life-saver for cash-strapped nascent companies. Supplies and support services may also be cheaper. Suppliers may be willing to cut deals that they never would have in a strong economy.

2. Good employees will be easier to find than ever. With so many people looking for jobs, few have the freedom to be choosy and to "wait it out" for a better salary. Now more than ever, the best and brightest will be easier to come by and for much cheaper than you would expect.

3. The startup is all about you. Regardless of the economic conditions, the most important element of a startup is the starter. Combine a smart, innovative, versatile business model with a driven, persistent entrepreneur, and you have a recipe for success in any market. Of course, investors and customers alike will be tighter, but these conditions are not necessarily new to the startup. Investors are always fickle, and one can never predict what the customer will choose. If anything, now is a good time to capitalize on the tighter economy by creating a product that helps people or businesses save money.

The moral of the story is, if you have a vision, pursue it. Naturally, it is important to ensure that the plan is sound, the goals reasonable, and the risks accounted for, but with a proper roadmap the only boundary to success is imagination. The greatest among us are those who follow their vision.

Davinci on KSL's "Speaking on Business"

2010-05-21T09:18:00.000-07:00

Davinci Suites was featured on KSL's "Speaking on Business" on Tuesday! As always, we are honored and humbled by those who choose to highlight us, especially in such an eloquent and enlightening way. Here is the text of the feature, available at http://www.ksl.com/index.php?nid=545&sid=10840553:

If you're a small business owner just starting your own company, there's a lot for you to set up all at once. Establishing a corporate identity might be just one more addition to an already lengthy to-do list.
Thanks to davincisuites.com, it's now easier for small business owners to assemble the business essentials such as a professional address, a place to meet clients, professional phone answering, IT support and central meeting place. DaVinci provides the support system for all sizes and types of small businesses.
The concept of the centers is working smarter. While still operating out of their homes, small business owners can have a prestigious corporate address, access to top-of-the-line conference rooms, executive suites with mountain views and professional phone and mail services. DaVinci's clientele varies by location, but it includes attorneys, technology companies, real estate professionals and financial consultants and planners.
Company founder Sam Souvall says the idea behind the company's creation 11 years ago was to develop an environment in which businesses could grow and thrive. He has an extensive background in commercial real estate and has always been fascinated with community infrastructure. The idea of creating a dynamic, thriving business community continues to drive and inspire him. Today, DaVinci serves more than 2,000 clients in seven business centers in Utah, Nevada and New Mexico.
Sam's goal is to help davincisuites.com become an essential resource for Utah's emerging small business community. He enjoys watching how the company's range of services can help level the playing field so small businesses have a better chance for success in an increasingly competitive marketplace. In addition to physical tools, DaVinci also provides important networking opportunities.

10 ways to improve your business today

2010-05-17T12:01:00.000-07:00

Courtesy of George Rodriguez, PowerHomeBiz.com
http://www.powerhomebiz.com/vol111/improve.htm

Every new day gives you a chance to move forward from your present situation. You can improve your business on a number of fronts: by increasing profits, reducing losses, getting more customers, expanding the markets, becoming more visible in the community, going public, or a number of other items deemed desireable.

You must have a vision of what you want to achieve, where you want to go, and what you want the business to become. Learn ten ways you can improve your business:

1. Start the year in high gear. Take a notebook (or a laptop or PDA) and jot down your throughts and plans for the year. It's time to get excited to the prospects of this New Year (even if you are making your plan in July, think of it as the beginning of a new year for your business)! List ideas on new product lines, or new projects that you want to take on. Write down your ideas on how to expand and energize your business. Only through innovation and continuing adoption of relevant new products and ideas can your business improve its competitiveness and profitability. Start the ball rolling with financers, lenders, and bankers if you need to take on additional capital.

2. Dust off your business plan. Review, review, review your business plan. See how far (or little) your business has taken shape from your original idea. Many entrepreneurs write a business plan at the start, only to forget about it. Some stray away from their plans - and fail. Go find your business plan and update it. Since your business' inception, a number of factors mus have changed - from overall business climate to your product line. Take all those changes into consideration, factor in your and your family's goals, and get a clear assessment of the direction of your business. Get in touch with your business advisers, if any.

3. Rekindle your relationship with your customers. Now is the perfect time to tap your customer database and get in touch with your existing customers. Whether by phone, email, or letter, contact your customers to greet them, remind them how important they are, and remind them that your business is committed to their ongoing satisfaction. You need to constantly look for ways to encourage repeat business. Although marketing and advertising are important to get more customers, quality, service and customer satisfaction are what keep a business successful in the long run.

4. Evaluate your pricing. Think about raising your rates. Now is the time to inform clients that your rates are going up. Just be sure to check what your competitors are doing and make sure your prices or rates aren't too low. You don't want to overprice yourself out of the market, yet you should not bear the burden of a cash flow shortage. Give your customers a month or two advance notice should you decide to increase your rates.

5. Find ways to cut your costs. Even if you secured funding from investors, you need to constantly look for ways to reduce costs. From making double-sided paper copies to ordering shipping supplies in bulk, you can reduce wasted material, effort, and time in making, selling, and delivering your product. The result is an improvement in your company's bottom line and an increased competitive advantage.

6. Resolve to improve your weak spots. Take stock of all aspects of your business operation and list down the areas that you want to improve. If your list of delinquent receivables is longer than Santa's list, find out how you can improve your billing and collection process. Perhaps you need to improve your record keeping to help flag you on delinquent accounts.

7. Institute measures to assess the performance of your business. Setting clear standards for your business allows you to determine the effectiveness and efficacy of your strategies. If you haven't done so in the past year, start determining how much you are making per hour of work, how effective your advertising is, and some other measurements of where your business has been. Set some benchmarks and periodically assess how your business is doing. You need to know what you consider an improvement before you can start to improve on it.

8. Keep employees involved. Good employees are hard to find, yet they are an important element of your business. Check to see if they are getting what they need and make them part of the team. Help them understand the importance of their role in your business and how their job impacts the business as a whole. Review your relationship with your employees and find ways to keep your relationship happy and avoid costly attrition.

9. Explore new markets or improve marketing. Start the year by exploring new markets for your business. Whether you are looking at targeting a new demographic or getting your business up on the web, take time to plan how you can expand your existing market. Look for ways to improve your marketing, whether by winning easy publicity, arranging an open house, or preparing direct mails.

10. Find out how you can live a more balanced life. Work and business are not the be-all and end-all of your life. Learn to have fun! Spend more time with your family. Take a vacation once in a while. Engage in activities that will rejuvinate your spirit and your life. Take care of yourself, and your health. Your productivity will improve if you are stress-free and healthy.

A blast from the past

2010-05-05T08:30:00.000-07:00

How far we have come! I stumbled across this article on Davinci's opening in the Enterprise today: http://findarticles.com/p/articles/mi_qa5279/is_199805/ai_n24334534/?tag=content;col1. It was 1998, and Sam Souvall and Joe Sasich were preparing to open up 20,000 square feet in the Cottonwood Corporate Center for use as shared office space. The facility would have 54 office spaces, be run by a hospitality-trained staff of 3-6, and be equipped with the latest technology (at the time, video tape recorders, networked white boards, and automatic screens and projectors). The concept would be akin to a five-star hotel for businesses, and cost an estimated $1,200 less than a comparable space on the open market.

In the article, Mr. Souvall stated that he would like to expand around the valley if the concept proved successful. Needless to say, Davinci has exceeded everybody's expectations.

14 Tips for Calming Upset Customers

2010-05-03T13:57:00.000-07:00

1.Don’t take it personally.

a. It’s not about you.
b. You will lose.
c. They just want someone to listen.

2. Make it a challenge.

a. See how many customers you can turn around and make happy.

3. Look for the “gifts”

a. You will get valuable experience.
b. You will have fewer upset people in your life.
c. You get the opportunity to correct it.
d. You get the opportunity to learn.

4. The customers are often embarrassed.

a. They know that they made a mistake but they want someone to blame.

5. Keep your cool.

a. Show them that you are going to be professional no matter how upset they get.

6. Listen

a. Don’t give away the store before you know what it is that they are complaining about.

7. Remember that it might be bigger than us.

a. Personal problems.
b. Use to having to get angry to get results.

8. Don’t interrupt.

a. Listen until they are done before replying.
b. It will just make them angrier.
c. Keep eye contact.
d. Keep body language positive.

9. Keep a respectful tone.

10. Remove the upset customer from public areas

11. Let them cool off.

a. Telling them that you need to look into a problem first.

12. Keep it positive.

a. Talk about what you “can” do and not what you “can’t” do.
b. Don’t talk about policy.

13. Use the “broken record” technique.

a. Keep repeating what you can do for them until they calm down.

14. Ignore impoliteness and cursing.

a. Re-write it in your mind.

Davinci is in the news again!

2010-04-30T07:22:00.000-07:00

There were a couple more news appearances this week and last. Tom Harvey of the Salt Lake Tribune, who highlighted Davinci earlier last week, wrote another article for the Money section on Sunday, discussing both ourselves and Davinci Virtual. The article pointed out the cooperative relationship between the two companies, with Davinci Suites acting as the physical anchor of Davinci Virtual, providing locations where Davinci Virtual clients can hold meetings and receive their mail. Those clients may also decide to upgrade to an office, at which point they may easily make the transition. Read the article here:

http://www.sltrib.com/ci_14939042?IADID=Search-www.sltrib.com-www.sltrib.com

We also made an appearance in the Deseret News yesterday, with a blurb announcing the opening of Davinci Sandy's south wing. This expansion opened 30 more offices, nearly doubling the available space at the center. Check it out here:

http://www.deseretnews.com/article/700028262/Davinci-leasing-suites-in-Sandy.html

Thoughts on office communication

2010-04-26T07:50:00.000-07:00

In our everyday language, subtleties can make all the difference in our message. Often, choosing which pronoun, 'I' or 'you', should carry the message and adjusting the message accordingly is all it takes to transform a difficult discussion into a helpful feedback session.

Consider the statement "You make me so frustrated when you don't finish your projects". By accusing the listener of directly affecting their feelings, the speaker assigns all responsibility to the listener. The most common reaction in all but the most patient and introspective of individuals would be defensiveness, as the listener feels personally attacked. This is an example of a 'you' statement'.

Now consider the emotions the following statement would evoke in our listener: "I feel frustrated when you don't finish your projects". The difference is subtle. In fact, the speaker is saying essentially the exact same thing. Yet they are taking responsibility for their feelings, conveying an entirely different tone. The listener may still become defensive as a result of the topic in question, but the use of an 'I' statement softens the blow and makes a productive response more possible.

Equally damaging and counterproductive are sweeping generalities, an easy trap to fall into in the heat of a tense situation. Imagine hearing "You always come late" or "You never get your work done". Sweeping generalities place a non-negotiable judgement on a person's behavior that invalidates any efforts they may be making to the contrary. It is a strategy that leaves the listener little option other than defensiveness.

'You' statements and sweeping generalities are tempting to use in the workplace or in our personal lives. They allow us to direct responsibility away from ourselves and often convey more candidly the anger or frustration we are feeling. Yet in the interest of more productive conversation, it is helpful to take into account how our language will forward the goal of the conversation. In fact, it may entirely transform communication in the workplace!

A day in the life

2010-04-19T15:46:00.000-07:00

It's 4:55, and I just finished one of the busiest days that our Sugarhouse center has had in a long time. What does a busy day constitute for a center manager? The answer is that no day is the same, but the list includes giving tours to prospective clients, booking and managing conference room reservations, cleaning offices and moving furniture, doing projects for our clients, setting up phone and internet connections, talking to clients about any concerns they may have, and planning client events.

What do all of these things have in common? They all involve serving either prospective or current clients in some capacity. This may seem like a no-brainer, but it is really astounding to look back at my schedule and realize just how much of my job involves customer service.

That is exactly what I appreciate about Davinci: our top priority at our centers is our clients. I never realized how elementary and yet how important this was, but as I spend more time here I realize how special this is in a business. For us, client service is not simply a concept in the employee training manual or a played-out cliche on the website, it is our central focus. Having worked in such an environment, I am more inclined to notice when customer service is lacking, and therefore more appreciative of our unique approach to client appreciation.

For me, the secret has been to build relationships with our clients from the onset. I do my best to learn as much as I can about them, and to always be receptive to conversation even if I am busy at the moment. Our clients become our friends, and who doesn't want to be there for a friend?

Best business lunches in Salt Lake City

2010-04-15T10:51:00.000-07:00

"What's a good place to get some lunch around here?"

Working with so many business people and their clients, I get this question a lot. For this reason, I have compiled a list of top choice restaurants for the business lunch. Each location combines great food with unique style. Of course, these are only some of the great restaurants in Salt Lake!

1. Market Street

Ask anybody in Utah where to find the freshest seafood, and chances are they will tell you to go to Market Street. They have several locations, including downtown, University, Cottonwood, and South Jordan, and serve up everything from crab to steak. I recommend the mahi mahi tacos or, of course, the crab legs.

2. Takashi

Situated downtown on 18 West Market Street, Takashi is arguably the best sushi in Salt Lake. The decor is trendy and cosmopolitan, and the sushi and other dishes are innovative and delicious. Particularly tasty is the ceviche roll, a japanese twist on the traditional Latin American dish of raw fish and hot peppers "cooked" in lemon or lime juice.

3. Porcupine Grill

A staple for skiers returning from the Little and Big Cottonwood Canyon resorts, Porcupine serves fantastic burgers as well as some great Mexican dishes. The nachos are delicious and, though an appetizer, are big enough to feed three people.

4. Citris Grill

Located on 2991 East 3000 South in Salt Lake or 219 East 12300 South in Draper, the beauty of Citris is its simplicity. Try the daily grilled cheese, featuring a different variation on the old classic every day. If you like grilled cheese you will love grilled cheese with red bell peppers, goat cheese, and sliced avocado on wheat!

5. Cafe Trio

This warm neighborhood diner, with locations downtown and in cottonwood, boasts a loyal following (some of whom are there two or three times a week) and a contemporary ambiance. The rosmary flatbread is to die for, and the vegetarian panini is great for those who prefer a less carnivorous approach to dining.

Davinci in the Salt Lake Tribune

2010-04-15T10:47:00.001-07:00

We are grateful to Tom Harvey of the Salt Lake Tribune for publishing this great piece about us today. Check out the article here: http://www.sltrib.com/midvalley/ci_14859974

A Virtual Experiment. Plus: Is your company ready to "go virtual?"

2010-04-12T11:17:00.000-07:00

What happens when a large company "goes virtual"? That is, what happens when a high-profile organization ditches the office, maintaining only its mailing address and receptionist? This is just the question business publication Inc. sought to answer this month. The editorial team (temporarily) shed their beautiful New York offices, instead experimenting in working remotely from home.

Writing from his armchair with "a cat in my lap", contributor Max Chafkin outlines the lessons, benefits, and drawbacks of such a move:

1. Cost. The first and most obvious advantage to becoming a "virtual company" is the bottom line. On Inc.'s part (taking into consideration that, in reality, the company was still paying rent on their office and that their administrative staff was still coming to work), the company could save somewhere in the ballpark of $500,000 a year on rent alone if just the editorial staff gave up their offices. Add increased productivity because workers would be cutting their commute, and you have some potent cost-saving indeed.

2. Get the tech. Technology is an especially tricky challenge for any company. Business technology, including phone systems, networks, etc. can be difficult to set up and maintain and can cost a pretty penny. When working from home, employees can utilize their own internet connections and take advantage of services such as Gmail and Skype. Skype is a particularly fascinating technology that few companies give attention to. Giving users the ability to make long distance conference calls and even video chats for little or no charge, it has big advantages over other more expensive services. Because employees are working from home, much of the usual business technology becomes unnecessary.

3. The Challenges of working from Home. Here we find our first great challenge. While working from home can be appealing, many Inc. employees found it difficult to strike a balance between their work and home lives when working from their home offices. Distractions such as children and pets can certainly damage focus. In addition, it may be difficult to concentrate at home because we usually see our homes as a place of relaxation rather than a place to do work.

One way to mitigate these challenges is to set up a dedicated space for doing work, separate from other areas of the house where we normally spend our leisure time. This area should be isolated enough to keep distractions to a minimum, and be set up to maximize productivity.

Many companies who provide virtual services (Davinci included) also provide spaces to work free of charge. These can be a great alternative to the home office.

4. How are your Decisions made? One thing to consider when thinking about going virtual is how decisions are made in your organization. If yours is a company where decisions are often "made in the hallway", as Inc. is, you may need to think hard about whether going virtual is the right move. If this cathartic environment, where coworkers poke their heads in, brainstorm, etc. is important to your company, it may help to set your employees up with some sort of "virtual water cooler". Skype and instant messaging do this quite well, allowing users to communicate easily in real time.

5. Explain yourself. Another challenge for a company going virtual are the assumptions that come along with a company whose employees work from home. A simple change in attitude and language may be the best solution here. Never say that you are a "virtual company". Instead, tell people that you work from your "home office" but your headquarters are in "x". It is important to maintain your image, something that we at Davinci take very seriously. If using a virtual office company, make sure they will not advertise your virtual status to clients, instead treating you as if they were your personal staff.

6. Consider your culture. The last thing to evaluate is whether your culture will suffer if your company goes virtual. This is a matter of preference and will effect each company differently. If constant face to face communication is important to your employees and you would like to go virtual, do your best to find times to gather and share ideas, results, projects, etc. Davinci and many other executive suite and virtual office companies provide excellent spaces, both public and private, for these types of exchanges.

You can read the full article here: http://www.inc.com/magazine/20100401/the-case-and-the-plan-for-the-virtual-company.html

Also, take this quiz, "Is your company ready to go virtual?": http://www.inc.com/magazine/2010/04/work-from-home-quiz.html

Virtual offices continue to gain popularity

2010-04-08T10:53:00.000-07:00

Virtual office use is on the rise, reported the Philadelphia Iquirer last week. Given the tight conditions many businesses are finding themselves in, this is no surprise. A virtual office offers businesses all of the trappings of a full-service office space, including inbound call reception, conference rooms, a business address, and much more, without the often prohibitive overhead of a physical office. The article highlights American Executive Centers (AEC), an executive suite company with seven locations in Philadelphia, who said that for the first time in its 27-year history, virtual office clients were outnumbering suites tenants (550 to 375 to be exact).

While virtual offices are certainly making landlords nervous, giving potential tenants an alternative to renting space (as highlighted in the Inquirer article), the positives of the concept are enormous. Virtual offices encourage new business because they provide an affordable stepping stone for start-up and growing companies, and they allow these companies to maximize their effectiveness by keeping their overhead low. Indeed, a virtual office may be the only thing between living and dying for some organizations, as it gives them a way to stay in business while drastically cutting their spending.

Others may choose a virtual office over conventional office space not because of price, but because of convenience and practicality. Large businesses who want to set up a satellite location in a nearby city but who won't be spending enough time there to justify renting space may find that the concept fits their needs perfectly. Still others like to work from home and don't want an office at all, but just need something to make them look more professional.

The bottom line is, the virtual office is the officing solution of the 21st century, and we are excited to be on the cutting edge of the trend. It is an honor to serve so many businesses in this capacity, and we're looking forward to seeing what the future holds!

The full article can be found here: http://www.philly.com/philly/business/20100328_Rise_of_virtual_offices_cuts_into_conventional_leases.html?viewAll=y

A Great Quarter

2010-04-05T15:48:00.000-07:00

With the closing of the first quarter of 2010, we at Davinci Suites are full of hope and grateful for what we have created. The first three months of this year brought a record-smashing 163 new small businesses to Davinci Suites! This means that we are fortunate to have the opportunity to serve 163 businesses in some capacity, whether it is a full-service suite, virtual office, or the occasional meeting room. By far, the majority of these new clients are involved either in the technology, financial, or legal industries

The Customer Experience in 2010

2010-04-01T09:31:00.000-07:00

Bruce Temkin, Vice President at Forrester Research, writes that perhaps due to the economic difficulties of 2009, companies are putting a great deal more focus on customer relations in 2010. No wonder, considering that now more than ever it is critical to not only generate new business, but to keep current clients and customers happy so as to retain existing business. In his article "Seven Keys to Customer Experience", Mr. Temkin gives seven insights into how businesses should treat their customer service process in 2010. Below is the text of his article, available at http://www.fastcasual.com/article.php?id=16887&na=1:

1. Drop the executive commitment facade. It’s very easy for executives to say "customer experience is important." But it’s much more difficult for them to dedicate the time and energy required to make it a real priority. So in 2010, executives should either get actively involved in customer experience transformation or drop it from their agendas.

Start here: Develop a customer experience dashboard and manage the results with the same energy that you manage financial results.

2. Acknowledge that you don’t know your customers. When market research teams require long lead times and expensive projects to answer questions about customers, too many organizations go without this insight. But the path to customer experience success requires significantly deeper customer observations. So in 2010, companies need to develop voice-of-the-customer programs that provide ongoing and continuous access to customers' desires.

Start here: Create a voice-of-the-customer program with a cross-functional team that focuses on four "LIRM" components: listening to customers, interpreting the feedback, reacting to the data and monitoring results from actions over time.

3. Keep from getting too distracted by social media. Twitter, Facebook and other social media sites may seem sexy, but they aren’t the only channels for customer feedback. Other channels like comments on surveys and call center feedback can often provide even richer hints. So in 2010, companies need to learn from social media feedback, but not overreact to it.

Start here: Treat social media as one of many listening posts in a comprehensive voice-of-the-customer program that examines both structured and unstructured feedback.
4. Stop squeezing the life out of customer service. My research shows that consumers care more about good customer service than they do low prices. It also turns out that many customer service interactions are critical "moments of truth" that drive customer loyalty. But companies often treat customer service as an unwanted stepchild, focusing almost exclusively on aggressive cost-cutting. So in 2010, companies need to start viewing customer service as a strategic asset.

Start here: Measure customer service organizations based on how effectively they help customers instead of efficiency metrics like average handle times.

5. Restore the purpose in your brand. True brands are more than just color palettes, logos and marketing slogans, they’re the fabric that aligns all employees with customers in the pursuit of a common cause. They represent a firm’s raison d’être. Unfortunately, many companies have lost this sense of purpose in their brands. So in 2010, companies need to redefine their brand and embed it in the hearts and minds of all employees.

Start here: Translate your brand into promises you will make (and keep) with customers across every key touch point.

6. Don’t assume employees will get on board. Employees are often the most critical element of any customer experience effort. But firms can’t just hope that everyone will participate in these change initiatives. So in 2010, companies need to actively focus on engaging employees at every level across the organization in their customer experience efforts.

Start here: Communicate (a lot) about "why" customer experience is important and allow employees to participate in defining "how" to make improvements.

7. Translate customer experience into business terms. My research uncovered a strong correlation between customer experience and loyalty. An average $10 billion company can generate $284 million of additional revenues from customer experience improvements. But most companies don’t fully understand the link between customer experience and business results. So in 2010, companies need to identify how customer experience impacts their financial results.

Start here: Engage the CFO to develop a model which shows the impact that customer experience has on customer loyalty.

Davinci Sandy to open second wing

2010-03-30T12:34:00.000-07:00

After much anticipation and a great deal of work, we are now getting ready to open our second phase of Davinci Sandy! Sandy, our newest center, is already filling up with some exciting and diverse clients, and we are looking forward to being able to double our offering there.

The Sandy center, originally opened in December of 2009, was scheduled to be built in two phases. The North wing came first, with 35 offices, two conference rooms, a kitchen, and a business support center with high speed printing, copying, and scanning capabilities. Now nearing its capacity after only four months of operation, Davinci Sandy is preparing to open an additional 30 offices of varying sizes, almost doubling its ability to serve clients.

Saying goodbye to an icon

2010-03-25T13:51:00.000-07:00

Locally owned and open since World War II, Salt Lake's Emigration Market has announced that it will close its doors for good on April 3rd.

JT Martin, whose family has owned the grocery store for more than a decade, cited the recession, combined with increased competition from chain grocery stores, as the reason for the decline in sales in recent years. The harder he tried to improve the business, he said, the worse things seemed to become.

Emigration Market was an iconic Salt Lake business. Having grown up in the Sugarhouse area, my family shopped there consistently, and it is surreal to see it go. Offering customer perks such as monthly tabs, Emigration was reminiscent of an older and more personal style of business.

As Bob Dylan said, times they are a-changin'.

Check out the full Salt Lake Tribune article here:
http://www.sltrib.com/ci_14741182?source

Shared Office Space and the "Start-Up"

2010-03-22T12:45:00.000-07:00

Starting a small business is a bold and exciting move, but can also be expensive and risky. The process certainly isn't simple, and often involves a lot of headache. Yet if successful, the entrepreneur has unlimited potential and flexibility.

For those of us in the shared office space market, start-ups hold a special place in our hearts. We get to witness again and again the early struggles and successes of a brand new business venture. While some do not succeed, many make the cut and go on to achieve great things. In our industry, we see small business success stories everyday, and these wins are part of what we enjoy about our work. This is because we are confident that, by providing a shared office space solution, we have played a role in this achievement.

What is shared office space? Generally referred to as executive office suites or office business
centers (OBC's), shared office spaces provide turn-key solutions to businesses large and small. Their locations may vary by size, breadth of services, and building class, and generally offer receptionist services, conference room space, access to business support services, etc. as part of an all-inclusive or low-cost package.

So what can this model do for start-up businesses? For start-ups, shared office spaces take the headache out of starting a business. Rather than starting a fully-functional office from scratch, which can be prohibitively expensive (imagine hiring your own secretary, setting up a network and phone connection, leasing copying and posting equipment, buying office furniture, etc., when you haven't even generated a profit yet!), new businesses can step into an all-in-one business community and start working the day they sign the lease. Plus, flexible lease terms mean that business owners are able to use the service only as long as they need it.

Furthermore, start-ups who are not quite ready for a full-time office can choose to "go virtual", meaning that they have the benefits of receptionist services, a corporate mailing address, and access by the hour or day to a class-A office, but without the price of physical space. Virtual packages are much less expensive and allow for an easy transition to a full-time office when the time is right.

Success through Positive Affirmation

2010-03-15T14:21:00.000-07:00

We are constantly meeting and interacting with people in the workplace. We interact with our employees, our employers, our customers, our vendors, and everybody in between, and naturally form opinions and impressions of these people based on a variety of factors. It is not surprise that such biases shape our everyday interactions with them and mold our expectations of their performance.

But Steve Roesler of The Steve Roesler Group, in his blog All Things Workplace (http://www.allthingsworkplace.com/), believes that our expectations influence our peers' performance as well. According to Roesler, we tend to see people in two different lights: "The Halo Effect" occurs when we allow one good trait in a person to paint our entire impression of them in a positive shade, dulling our perception of their potential downfalls and flaws. Conversely, "The Horn Effect" describes our tendency to allow one or two flaws or negative traits to influence our whole perception of a person negatively. If they are lacking in one key trait, they are assumed to be lacking in many others as well. For example, an employee who is constantly overdue on a specific project (perhaps due to unreasonable deadlines or work load) is assumed to be lazy, uncommitted, or unintelligent.

These expectations can actually influence the way that people work. If we are constantly expecting negative performance, it is likely that we will keep getting negative performance. Our expectations become self-fulfilling prophecies.

What a great message for business people! It is so easy to be unsatisified with the people we work with each day. I appreciate Mr. Roesler's message that we have the power to influence the world around us and shape people to give us the best or the worst of themselves. Our peers follow our lead, looking to us to encourage and affirm them. How many of us have had somebody in our lives who saw us as the best we could be, and for whom we rose to the occasion every time to meet their image of us? I would bet we all have.

Here at Davinci, our top goal has always been to affirm those we work with, because their success is our success. We are in the business of nurting businesses, of assisting them to reach their fullest potential. We move the road blocks out of the way because we know that every single company and individual we work with has so much potential, and are pleased to make their road to success that much easier. It is not just about the services, it is our atmosphere of positive affirmation and success that sets us apart. We are passionate about being a positive force, in one way or another, in our clients lives.

Sales Statistics

2010-03-12T14:21:00.000-08:00

Some really interesting sales statistics, really drives home the importance of effective follow up!

-48% of all sales people never follow up with a prospect
-25% of all sales people make a second contact and stop
-12% of all sales people only make three contacts and stop
-Only 10% of all sales people make more than three contacts
-2% of sales are made on the first contact
-3% of sales are made on the second contact
-5% of sales are made on the third contact
-10% of sales are made on the fourth contact
-80% of sales are made on the fifth to twelfth contact

Wow! These are some very eye-opening figures. My impression is that each contact would have to be unique and substantial. 5-12 sales calls will probably start to push a prospect's buttons, but if each follow up is unique it could actually assist in building a relationship with potential clients. Imagine that the first follow up is a thank you note, the second a call with a special offer, the third an email inviting the prospect to an event, the fourth a small gift or card sent in the mail, etc. These are small, unobtrusive steps that keep you at the forefront of a prospect's mind without being annoying or "salesy". Very interesting :)!

On Details

2010-03-08T10:55:00.001-08:00

In hard economic times, when businesses are struggling to stay afloat and people are less and less willing to spend money, cutbacks in a business are inevitable. We, like many other businesses, have had to do some serious belt tightening and do our best to work more efficiently.

But one thing that we have learned is that, when it comes to presentation, details are still everything. While it has been tempting to cut out many of the "extras" that we provide clients, such as complimentary fresh fruit, included furniture, fresh flowers in our lobby, and monthly massages, we have learned that sometimes the best and most profitible decision in tighter times is to avoid minimalism.

Think about it. Every day, our clients and prospects (and everybody's clients and prospects for that matter) hear news of rising unemployment rates, failing businesses, and deep cuts in expenditures. Vacant store fronts and office buildings are everywhere, and they are increasingly "nickled and dimed" for services that used to be free (think checked baggage on major airlines!).

How refreshing it would be, then, to step out of that world and into a business where details are not ignored. Here at Davinci, we have made every effort to not only retain the perks and services we have always offered, but also to do more than ever at an all inclusive price. In an industry notorious for hidden costs and fees, we are striving more than ever to offer a turn-key, all-in-one product.

Davinci Sandy is Green Certified!

2010-03-04T11:25:00.001-08:00

Davinci's new Sandy location has just been licensed Green Certified by Blue Iguana, a California-based Green Business Consulting Company!

This is an important step for Davinci and for green business in Utah. With 16 companies already occupying the 3-month-old center, and capacity set to exceed 60 by next month, it means that 16 companies have effectively also gone green, and anybody who occupies the center in the future will also be doing their part to work sustainably.

Blue Iguana, who provided the certification, works to help businesses create a "greener" model. Named after the Blue Iguana, one of the most endangered species in the world, the company uses a software-based survey to rank businesses on a number of criteria, including building construction, infrastructure, materials, and daily business practices. Davinci received a score of over 90%!

We're excited to be joining the ranks of green companies! Davinci has always been cutting edge, visible in our technology and in our innovative business model itself, and we are happy to be leading the way on this front.

Asking Strong Sales Questions

2010-03-04T07:57:00.000-08:00

Anyone who has ever been in sales knows that there is no one way sell, that there are as many sales styles as there are sales people. To find and define one's sales style is an introspective, reflective, and sometimes even painful process.

One element that I have found especially helpful as I grow into my own role as a sales person is asking the right questions. Jeffrey Gitomer, in his acclaimed The Little Red Book of Selling, strongly recommends that sales people make a list of 20 unbeatable questions and have them memorized. I think this is a great idea but put off actually writing the list until yesterday, after I had a fantastic conversation with one of our clients. An experienced sales trainer with 10 years under his belt, he declared that sales is nothing more than a process of knowing one's product, getting to know the prospect's needs (through questions!), and matching the two to make a sale.

With this in mind I now give you my 20 unbeatable sales questions for selling suites, virtual offices, and meeting rooms. Yours, of course, will be different depending on your product, but the idea is the same:

1. What has prompted you to seek office space at this time?

2. What prompted your interest in space with Davinci Suites?

3. What do you know about the executive suite concept?

4. What was your previous office arrangement?

5. What did you like about your previous arrangement? What would you have improved?

6. If this is your first office, what do you picture as your ideal space?

7. Where do you see your business (or this branch of your business) in 6 months? 12 months?

8. What is your budget?

9. What other things have you budgeted for outside of the office itself?

10. What is your time frame to make a decision?

11. How many people are you hoping to accommodate?

12. What can you tell me about the other people involved in the process?

13. How do you plan to use this office?

14. What preparations do you need to make to move in? (talking to partners, ending a previous
lease, getting startup capital, etc.)

15. Where else have you looked?

16. Where else do you plan to look?

17. What did you like about the other options you have looked at? What could be improved?

18. If you are planning to look elsewhere, what would be your primary consideration in
comparing what you have already seen?

19. What concerns do you have? What are your biggest hurdles?

20. What are your obstacles to signing today?

These, of course, must be asked at the right time in the conversation, customized to the prospect's needs, and not given in rapid succession. Still, having a list provides an excellent template for a confident sale.

Thoughts on company culture

2010-03-02T07:03:00.000-08:00

In this, the first post of the Davinci Suites blog, I would like to echo a blog entry that resonated with me recently. Zappos CEO Tony Hsieh, in his post on the Zappos blog last January entitled "Your Culture is Your Brand" (www.blogs.zappos.com/blogs/ceo-and-coo-blog), points out the challenges of building a brand in the 21st century. Building a brand was different 50 years ago, when a group of people could sit down in a room and choose how they were going to design the company's image, then spend a great deal of money to do so.

Today, branding is much more democratic. If somebody has a bad experience at a company, they can blog about it or post a negative comment on a miriad of websites. The good news is that the reverse is also true. If somebody has a positive experience, the world can know in minutes.

The problem is that there is no way to cover every base where your branding will be affected. For example, if somebody were to meet an employee of ABC company in a bar and that employee were acting inappropriately, they have hurt ABC company's image.

Therefore, advertising can only get you so far. Hsieh points out that, although the airline and US auto industries pay enormous sums of money in advertising each year, many people when asked will have a negative opinion of these industries

So if advertising can't cover all of a company's bases, how can businesses effectively build a brand?

The answer is company culture.

When I read this blog post by Hsieh, I couldn't help but think of Davinci. Like any company in 2009, we encountered new challenges that tested our metal and forced us to rethink our model. As a small business support services company, in a market where small businesses were suffering the most, we realized that we couldn't afford not to think of our image in every detail. Like most small businesses in a slow economy, we had to get smart or die.

Culture was at the forefront of our minds. It wasn't enough anymore to offer a great product. We had to think not only in terms of "what do we sell?", but also in terms of "who are we?"

More than ever, it has been critical for us to be represented by smart, capable staff. We must all be on the same page when it comes to our vision, values, and goals, and act as a unified force to create an ideal environment where small business can thrive.

Our culture is what make Divinci unique. We strive to offer a full experience by blending professionalism with personalism, and hire and train intelligent and unique staff to live by this vision.

Our professionalism shows in the way we dress, answer the phone, conduct ourselves, and much more. When we are working on a project we finish it promptly and with our best effort. When we are asked a question or request we do everything to ensure it is handled with care. Every detail is covered, and every extra mile is traveled. These are basic requirements for success as a Davinci employee, and are carried out by every one of us.

But more unique is our personalism. It is important for us to get to know each client individually. Part of the joy of working here is meeting so many different people and learning about where they come from, their personal outlook, and how we can positively contribute to them. While it is certainly not required of clients to become friends with the staff, many clients have in fact developed an excellent sense of community in our centers.

We are always open to improving our culture and the brand that it undeniably creates. I related to Mr. Hsieh's post very much, and am looking forward to brainstorming how we can effectively apply some of his ideas. I especially liked that Hsieh worked with his staff to come up with a mutually agreed-upon list of 10 company values that they can live every day! This seems like a very effective concept!

On this note, in an effort to constantly improve ourselves, we will draft such a list in our next staff meeting and use it as a guide. I will post the complete list and discuss our conversation at the meeting next week.