Women Business Owners of Southeast Michigan
August   2009
WBO Newsletter
In This Issue
September Meeting Upcoming Events
Consistently Executed Process & Procedures = Customer Satisfaction
Member to Member Discounts
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September Meeting
 
Don't miss the September Meeting when Leah Arnold, of Global Wealth Management and President of NRG Consulting and Diana Moak, attorney and partner at Pugh Moak, P.C.will discuss Legal Structures and Exit Strategies.
 

Are you building wealth in your business?

 

How will you harvest that wealth?

 

How long does it take to prepare a business for sale? 

 

How do I determine what  my business worth?  

 

Is my legal structure appropriate for easy exit from my business?  

 

What types of exit strategies are available for me to use to exit my business?

 

How do I prepare for income after I exit my business?

 

What else don't I know?

 
Leah Arnold's career as a Business Analysist with ASG Renaissance, as a Certified Financial Planner with Global Wealth Management, a Merrill Lynch affiliate,  and as President of NRG Consulting have prepared her to deliver relevant information on this month's topic.  She is the founder of the Women's Academy for Small Business, a program of Walsh College and Leah is a board member of the Greater Detroit Area National Association of Women Business Owners, our partner organizaiton.  Diana Moak  is an attorney and partner with
Pugh Moak, P.C. specializing in all aspects of start-up and incorporation, management, and exit strategy .
 
 
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Upcoming Events

Wednesday, September 9, 5-7 p.m., SPARK Central, 330 E. Liberty, Ann Arbor - http://www.bioarbor.com/
BioArbor Presents: Successful Exits. Join us to hear from serial entrepreneurs about their exit strategies and outcomes as they transitioned their ventures from start-ups to large medical device and pharmaceutical companies. They'll present their paths to success - from their darkest moments to when they knew they had a closed deal. Learn from these entrepreneurs the critical elements that allowed them to exit at the top! Details:
 



Friday, September 18, 7:30-10 a.m., Ypsilanti Marriott at Eagle Crest, 1275 South Huron, Ypsilanti -
Women's Exchange of Washtenaw - You Goal Girl! Set the stage to meet your goals in this interactive exchange session. Learn how to set specific goals, develop a plan for implementation, and determine how to measure success. Details: http://www.wxwbusiness.com/
 
 
 
September 19, 2009  Free Financial Planning Help From Experts
If you have financial questions or concerns or would like to learn how to better manage your finances, you'll have an opportunity to receive FREE, personalized, confidential answers from dozens of CERTIFIED FINANCIAL PLANNER™ professionals at this free Saturday Financial Planning Clinic.  Volunteers at the Clinic will be at tables designated for specific financial planning topics and you can consult with as many different CFP® professionals as you need.  Come as you are, or come prepared with any financial paperwork related to your questions. The Clinic will also feature a series of educational workshop presentations addressing key financial planning topics. Walk-ins are welcome, but admission will be granted first to those who have registered online at www.CFP.net.  Click here to hear testimonies from this clinic.


September 23, 2009  Comerica PowerPerks Breakfast Featuring Ross Rogers
Questions about the market?  Wish you had a Magic 8 Ball to help you sort out what's going on in these crazy times?  Join us.  FREE for NAWBO Greater Detroit members! For more information or to register, click here.
 
Tuesday, November 10, 2009 WBO Annual Celebrate Women in Business
Debi Scroggins, Founder of Bearclaw Coffee took her business from a single drive through coffee kiosk to a franchise business.  We will honor Debi and hear her "Tales from the Den" at our Annual Meeting in November.  Save the Date.  This is one you won't want to miss.   

 

,
Dear Hillary,

In these fleeting days of summer, make sure you don't look back and say, "Where did summer go?"  Take this Labor Day Weekend to give yourself a break from laboring.  Enjoy the beauty around you: walk, bike, swim but get out and enjoy the fresh air, the warm sun, and the cool nights.  Share food with family and friends:  barbecue, tailgate, do gourmet, but spend time with those you love.  You'll be amazed at how refreshing even a small bit of diversion can be.  
 
Balance between your personal life and your business life is an important component of keeping both you and your business energetic and fresh.  Taking a break can help you reflect on your business model, reevaluate operation, rejuvenate your focus on goals and objectives, and retool process and procedures.  Seeing things through a different lens can give you a new perspective on issues and challenges and reveal solutions you've been too busy to see.   A new look can also provide insight into those things you've been doing well.  Celebrate those good things!  And repeat them for continued success. 
 
Treat yourself well.  You are your business.  Caring for yourself is good for your business.   And, you will return refreshed and re-energized, ready to tackle all competitors and challenges. 
 
Be grateful.  You have been given the chance to be the person you wish to be - your choice to develop skills that set you apart from the crowd.  You have been given the talent to create something admired by many - your personal characteristics reveal tenacity, perseverance, and drive to succeed.  You have been given the opportunity to determine your own destiny - no one will deliver a 'pink slip' to your desk.  You are living life on your own terms and you will decide when and how you will exit your business. 
 
And so, from operations in August, we move to legal structure and exit strategy in September.  Don't miss Leah Arnold, President NRG Consulting as she addresses this topic on Tuesday, September 8, 2009, 6 p.m. at Carlyle's Grille.  See you there!
    
 
Sincerely,
Jan Davies McDermott
President
 

Consistently Executed Process & Procedures = Customer Satisfaction

With a background in strategic planning and process improvement, Kent Baumkel of Baumkel and Associates, our speaker at the August Meeting, introduced the group to the key components of establishing effective operations within our businesses.   She stressed the importance of consistent process and thorough procedures in getting and keeping customers.  Bottom line is sincerity; earn customer loyalty by being loyal to them by keeping pace with their changing needs. 
 
Although the owner sets the culture for the business, a business is much more than the owner.  An operations plan needs to be in writing.  It needs to include step by step procedures on how to execute the process and flow for each step of the business operation.  As a living document, it should reflect staff input for improvement. 
 
Even if there is no full time or regular staff, a policies and procedures plan helps people who help part-time, seasonally, or who act as back-up can deliver service in the same manner to which the customers have become accustom.  If a business is to expand, written policies and procedures are critical to consistent product and service delivery as new people are added to the team.  In addition, it also empowers peak personal performance with guidelines on how to contribute and measures to reward effort.
 
"As very small business owners, we hone the operational style of our business by trial and error.  The policies we employ and the procedures we use become second nature to us", Kent said.  Firmly establishing the philosophies and behaviors that support your vision of how tasks and functions are expected to be performed - in writing - is a critical success factor for growth.  Others, who are part of your business success, can only know your expectations of them if those expectations are clearly and concisely communicated to them.  Troubleshooting problems becomes easier, when the process trail can be followed to determine where in the process the breakdown occurred opening the opportunity for improvement. 
 
Kent stated, "Entrepreneurial thinking looks at the business through the eyes of the customer, and puts the customer first."  To effectively meet the needs of your customer, insure that your process and procedures is built on an accurate customer profile.  The best businesses solve a problem for the customer; they do something the customer can't, won't or is unable to do for themselves.  Offering them solutions at an affordable price is a key to success.  Using these questions can help you define the customer's criteria for satisfaction:
 
1.      What pain is the customer experiencing?
a.      Think about why they buy what you sell.  
2.      What are they experiencing that they want changed?
a.      Discomfort, inconvenience, difficulty, annoyance, hunger
3.      What result does the customer want?
4.      How does the product or service help them?
5.      What aspects are most important to them?
6.      How does the customer view the product or service?
7.      How to distinguish what you offer versus alternatives?
8.      How will your customer's needs change over time?
 
Kent recommends using low and/or no cost resources to guide your process and procedure planning and inspirational reading to boost your enthusiasm:
 
Michigan Small Business and Technology Development Center
301 W. Michigan Ave, Ypsilanti, MI 48197  www.misbtdc.org/region 12
 
Michigan Economic Development Corporation (MEDC)
Lansing, MI  www.michiganadvantage.org
 
FastTrac to the Future™, Program and Entrepreneurial Manual
A step by step guide to business planning.  Published by the Kauffman Foundation
 
Movie/Book: The Pursuit of Happiness by Chris Gardner (portrayed by Will Smith in the movie version) An inspirational story of one man's journey from rags to riches
.
We are grateful to Kent for sharing her time and talent with our group.
 

Member to Member Discounts

American Laser Centers- Members always receive an additional 20% off all services, as well as free treatments for referrals.   Contact Jennifer Schaefer by phone at (734) 971-9800 or by email jschaefer@alcpartner.com
Artistica- Member to member discount of $10 off $50 or more at Artistica.   Contact Pam O'Hara by phone at 734-426-1500 or by email info@artisticagallery.net
Authentik Beauty Magazine- All members will receive a 10% discount on all advertising packages.   Contact Cassandra George-Sturges by phone at 734-478-0384 or by email authentikbeauty@yahoo.com
Cafe Marie of Ann Arbor - Breakfast/Lunch Cafe; 20% off. Show up with your membership card to get your discount. Say hello to Jeanne Loveland when you're there.   Contact Jeanne M. Loveland by phone at (734) 662-2272 or by email jmloveland@aol.com
Creative Memories- Bonus Host Gift with a scheduled Home Event   Contact Nan Carter by phone at (734) 930-6516 or by email nanpotmedic@comcast.net
Davies House in Georgetown Bed and Breakfast - 15% off lodging for bookings of two, three, or four nites; 10% off small business meeting space Design329- non-profit rates   Contact Beth Ann Knisely by phone at (248) 449-7293 or by email ba@design329.com
Dynamic Edge Consulting LLC- $10.00 off QuickBooks/Peachtree Red Phone Help Desk Subscription Plan. Call or email for more details!   Contact Lucy Rogers by phone at (734) 975-0460 or by email lrogers@dynedge.com
Echo Educational Enterprises, LLC - Jan Davies McDermott.  15% discount on emergency response trainings: CPR, Automatic Defibralation, First Aid, Bloodborne Pathogen, & Defensive Driving,
Guiding Light Business Consulting, LLC - Jan Davies McDermott.  Free 1 hour consultation to determine unrealized keys critical to success using Kauffman and Peter Drucker Processes.   
Healing In Motion, PLLC- JB Myofacial Release; 25% off.   Contact Sandra Hilton by phone at (734) 913-4816 or by email sandyhilton@gmail.com
Helping Hand Computer Solutions - 10% off services for WBO members   Contact Patricia Na by phone at (734) 995-6875 or by email pna@helpinghandcs.com
I Sold It- Ann Arbor- 5% off on the first $500.   Contact Carol Kamm by phone at (734) 761-6187 or by email isolditaa@gmail.com
Inforum- $125 professional (regular) level memberships are available to all WBO members.   Contact Leslie Herrick by phone at 313.578.3244 or by email lherrick@inforummichigan.org
Keller Williams Realty, Parsons Properties- Donation to non-profit of your choice based on closed sales commission.   Contact Lu Parsons by phone at (734) 821-0769 or by email luparsons@gmail.com
Kimberly Watt, LLC- 25% to any member who refers me for keynote speaker or workshop facilitor   Contact Kim Watt by phone at (734) 341-5007 or by email kim@kimberlywatt.com
Loretta Friend- WBO members that host a show for Loretta Friend will receive a 50 - 60% discount.   Contact Loretta Friend by phone at (734)646-6611 or by email LorettaRFriend@yahoo.com
Management Decisions, LLC- Free Accounting check-up or personal tax planning session   Contact Gaye Hobson by phone at 734-740-4886 or by email gaye@mandecllc.com
Managing Your Mind Coaching & Seminars- Geraldine Markel, Managing Your Mind Coaching & Seminars offers a 20% discount on all services and products.   Contact Geraldine Markel by phone at (734) 761-6498 or by email geri@managingyourmind.com
MassMutual- Saving of $10.00 for your 2008 Income Tax Service Refer a friend and save an additional $10.00.   Contact Marlene Lemire by phone at (248)324-9333 or by email mlemire@finsvcs.com
Merle Norman Cosmetics- 10% discount on regular priced products at Nan's Merle Norman. Plus a complementary paraffin treatment with a manicure or pedicure ($10 value).   Contact Nan Carter by phone at (734) 930-6516 or by email nanphotomedic@comcast.net
Ms. Green Construction- A 10% discount for any first time service to all members.   Contact April Rue by phone at 810 5998112 or by email april@msgreenconstruction.com
New York Life Insurance Co.- I am able to offer a 10% discount for Long Term Care Insurance to any members of the WBO   Contact Linda Jones by phone at 248-357-7269 or by email ljjones@ft.newyorklife.com
NuSkin/Pharmanex- I will sell my products to members at wholesale   Contact Joyce Ranney by phone at 734-878-9991 or by email joyce.ranney@yahoo.com
Personalized Gift Baskets- 10% off on all orders.   Contact Becky Grasshoff by phone at 7342224697 or by email sales@personalizedwrappers.com
Practice HOW- Free one time consult.   Contact Annie Zirkel by phone at 734-735-5522 or by email annie@practicehow.com
Rodan+Fields Dermatologists- FREE skincare analysis using our Exclusive Spot Light Tool, 10% off + FREE shipping! FREE $50 giftcard towards R+F Products for a referral who joins my team!!   Contact Olga Allen by phone at 734-383-6655 or by email olgajallen@yahoo.com
Rubenfeld Synergy: Mind-Body Healing- Complimentary Introductory Session.   Contact Peggy Bennett by phone at (734) 994-3719 or by email pegben@umich.edu
Serpro of Canton/Servpro of Washtenaw- 10% off non-emergency related carpet cleaning services. Please mention WBO when contacting the office.   Contact Laura Spensley by phone at 800.714.5341 or by email lspensley@jwsservices.net
Shaklee- Free Customer Membership, or membership pricing on all products   Contact Theresia Radtke by phone at (734) 646-0793 or by email TheresiaAnne@yahoo.com
Sterling Boutique- 10% off any of the over 450 jewelry items to WBO members.   Contact Kathy Taylor by phone at 734-216-1506 or by email kathy.taylor10@yahoo.com
Strategize Organize LLC- After 9 organizing hours the 10th is free.   Contact Susan Hunsberger by phone at (734) 389.5182 or by email susan@strategizeorganize.com
TLCI Website Solutions- Design, Applications, Support, and Consulting- TLCI is offering 10% off for website development, updates and optimization of existing sites   Contact Hillary Handwerger by phone at 734-668-6585 or by email hillaryh@ix.netcom.com
Top Of The List Web Marketing- Special Introductory Search Engine Optimization Package for WBO members: $150 includes optimization of Title, Content, and Cescription Tags and optimization of up to 3 pages of your website.   Contact Paula Lowry by phone at 734-429-1043 or by email Paua7928@aol.com
Town and Country Errands- Town and Country is offering a 10% discount on all their services to WBO members.   Contact Lynn Liston by phone at (734) 761-8431 or by email lynn@townandcountry-errands.com
TwoFoot Creative LLC- 15% off wedding event planning services   Contact Ana G. Skidmore by phone at (734) 709-6656 or by email ana@twofootcreative.com
Visiting Angels- New client's and family members can receive 5% discount for the first 6 months of services.   Contact Angil Tarach by phone at (734) 929-9201 or by email visitingangelswc@comcast.net
About WBO
Women Business Owners of Southeastern Michigan  is dedicated to the education, networking, referral, and suppor for women small business owners and aspiring entrepreneurs.   
Meetings are held on the Second Tuesday of each month at Carlyle's Grille, 3600 Jackson Road, Ann Arbor, MI
Networking 6:00 p.m.; Program 6:30 p.m. Meetings typically end by 8:00 p.m. 
 
 
WBO
P.O. Box 1936
Ann Arbor, Michigan 48106-1936
 
WBO is a proud partner of NAWBO, Inforum, and CEED
 
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This email was sent to hhandwerger@yahoo.com by president@wbo-mich.org.
www.wbo-mich.org | WBO | P.O. Box 1936 | Ann Arbor | MI | 48106