P rof iles,
Adv i c e ,
In f or m at i o n
F o r
G ro w i ng
B us i n e sse s
JULY 2008
Cellular vs. Chuck Norris:
What’s The Better Bet? page 2
Avoiding Workplace
Violence Outlaws Have More Fun.
Say HelloToThe “Miltownkid.” soho player page 14,
Casey Payne
page p g 27
Glendale, WI • Phone: 414.736.3519
owner - publisher, cd vann • editor, jim kogutkiewicz • soho profiler - contributor, trish hundhausen photographer, sarah hoeppner - I Do Photography • layout & design, VanderBloemen Creative
S O H O E XPE R T S 2 SOHO PLAYER,
That’s right; miltownkid—all lower case. Still known to most as “Casey Payne,” at 28 years, he’s Gen Y’s answer to society’s notion of the Renaissance man. All sorts of people from around the world are finding they can’t get enough of Mr. Payne’s “daily” dose. Whether it be his latest insights on Guitar Hero, micro vs. macro economics, Chinese lessons, or even his highly personal challenge with having bipolar disorder, you can believe that he has loyal fans hanging on his every word.
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Jason Kayzar MC2 Incorporated Phone: 414.788.1800 Email:
[email protected]
page 10
Casey Payne Outlaws Have More Fun. Say Hello To The “miltownkid.”
Cellular vs. Chuck Norris: Who’s The Better Bet?
3
Live Your L.I.F.E. Living In Fantastic Excitement
John L. Chiappetta JD Financial Services, LLC Phone: 847.986.2740 Email:
[email protected]
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Building An Intelligent Database
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Mike Carroll Intelligent Conversations Phone: 414.727.9813
[email protected]
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7 Reasons Why You SHOULD Use A Travel Specialist
17
Avoid The Horror Of Workplace Violence Debra A. Slater Weiss Berzowski Brady, LLP Phone: 414.270.2521 Email:
[email protected]
Don’t Use A Hammer When19 To Sell Or Not To Sell: Taxing Questions For The The Job Needs A Drill Small Business Owner Stephanie Kern Jason Seyfert Northwestern Mutual Financial Network Phone: 414.358.5110 Email:
[email protected]
VanderBloemen Creative Phone: 414.828.2123 Email:stephanie@ vanderbloemencreative.com
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Web Writing: Much More Than Putting Pen To Paper Diana Myre Comstar Phone: 262.953.6000 Email:
[email protected]
Katie Cianciolo CruiseOne Phone: 262.347.4776 Email:
[email protected]
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See Sunshine Where Everyone Else Sees Rain Jim Palzewicz ActionCOACH Business Coaching Phone: 262-790-1213 Email: jimpalzewicz@ actioncoach.com
Jeoffrey R. Hutcherson CinnerG Systems Phone: 262.894.3515 Email:
[email protected]
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Selling Your House: More Than Just Accepting A Bid
Loop de Loop de Loop Leading Toward Wisdon In Your Organization Mark I. Vincent, Ph.D., CSP Design for Business Int’l Phone: 877.771.3330 Email: marklv@ DesignForBusinessIntl.com
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‘Coach, I Did It!’ Jose Vazquez Vazcom Communications Phone: 262.620.0654 Email:
[email protected]
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wifi and mobile technologies
soho life coach Love Your L.I.F.E. Living In Fantastic Excitement
Cellular Fees vs. Chuck Norris: Jason Kayzar
Jeoffrey R. Hutcherson Beginning from where you are, let’s look at how you are living, how you are thinking, how you are knowing, how you are growing.
Who’s the better bet?
Chuck Norris might be able to sneeze with his eyes open, or slam a revolving door but he doesn’t stand a chance of going through life without paying fees. There are bad four letter words, and then there are filthy four letter words. “Fees” definitely fits into the second category. Fees are used to hide all kinds of taxes and charges on everything from garbage pickup to cell phone contracts. Fees are everywhere, and I can’t think of one that has a positive connotation (Sunshine Fee? Happy Fee? Smile Fee?). On June 14th, the FCC and at least one cellular company will square off at public hearings designed to create a national Early Termination Fee (ETF) policy for all cellular subscribers. Right now consumers pay an early termination fee of $175 or more for cancelling service before the end of their contract.
In the blue corner – Kevin Martin, head of the Federal Communications Commission (FCC) said he wants to regulate fees charged to cell phone users who cancel their wireless contracts early. Right now there are no regulations, carriers set their own terms and fees individually. Ironically, many of the big carriers waive these ETFs for Government accounts. And fighting out of the red corner - The wireless industry has proposed a plan to the FCC giving consumers a chance to cancel their cellular service without any penalty.
the carrier. If you leave before your contract hits the profit or even breakeven point of their investment, they’ve lost money on you. Imagine going to your local Ford store and leaving with a free car. The catch is that you would have to bring it back to them for all gas and service and you could only drive it on “Ford approved” roads. If you decided you wanted a Toyota a few months later, Ford would charge you the full price for the car because you didn’t fulfill your end of the contract.
Why do these fees exist in the first place? The cell phone handset you own has most likely been heavily subsidized by
To be honest, it can sometimes appear that something is not working the way you’d like. However, it’s exactly that type of thinking that keeps you from firing on all of your life’s cylinders. Happiness is what we all want, but how do we get it? We have been trained to
Depending on which figures you look at, the average carrier’s cost per gross add (CPGA) or cost to add a new subscriber to their network is $400 to $600. That includes the advertising, network upkeep, handset subsidy, etc. From the carrier’s perspective, an ETF at least helps recoup some of that cost. Either way the fight ends up, consumers will probably get a small victory. The biggest downside is that carriers will surely begin to move away from the
Under their plan, the clock starts ticking for consumers either 10 days from receipt of their first bill, or 30 days after signing their contract. Once you go beyond that time frame, you’d still be on the hook for an ETF. In addition, if the proposal passes, the FCC will take away the right of individual states to regulate the ETFs. The proposal would also “pro-rate” the fees based on the length of time left for existing contracts.
We all want to be happy with our lives, our business and our family, but it seems that it’s hard to get all of it at the same time. When one works, one or more of the others are off.
You’ll pay full price for your next “free” phone (about $150 to $$200) and companies won’t be as anxious to sell handsets on price.
As for Chuck, he’ll be alright. The only sure things are Death and Taxes…and when Chuck Norris goes to work for the IRS, they’ll be the same thing.
We know that money can’t buy happiness, but it would be great to know about that firsthand, wouldn’t it? Just give me the money and I’ll prove it. I have been blessed to know people who have money tell me they did not wait to be happy until they reached their financial goals. They practiced being happy during the journey of achieving their goals. Remember, you don’t have to achieve to be happy, but you can be happy achieving and really have fun in the process.
TIPS FOR LIVING IN FANTASTIC EXCITEMENT (L.I.F.E.) The “No Complaining” rule: If you have something in your workplace you might want to change, look for the solution instead of just negatively venting. Have you ever noticed that if something doesn’t feel good to say, it might not be good to hear? Ask yourself if complaining about something or someone would lead you to a good-feeling place or not. Turn the words and thoughts around. An example: I don’t like these long meetings, but I do like having clear communication and fresh ideas to grow the business.
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Can you see in this one area (“no complaining”) you can address all three phases: your work, mental and emotional states of mind? You can choose to be happy. All you need to do is control your focus. You know the saying: “You must change the way you look at things before the things you look at will change.”
subsidized handset model.
Also, the new rules will most likely not apply to any existing contracts, you’ll need to re-sign with a carrier to get out early (how’s that for irony?).
think that happiness is in the having of things, like cars, boats and other expensive items. What other things do you think make a fabulous lifestyle?
TO BRING MORE EXCITEMENT TO WHAT YOU DO: Ask empowering questions like: What novel idea is this? What’s the best
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way to solve this problem? Then sit back and enjoy the process rather than looking at places to cut back on, take out or sacrifice now to stay ahead.
Make it easier for you to be happy by letting up on your rules for what has to happen for you to be happy. We have all been caught in that
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trap. Where do you stand today? For example, do you need to have this type of house before you can be happy? X amount of money before you can be happy? That type of wardrobe to be happy? That is all well and good, but you don’t need those things to be happy. Happiness is who you are, not something you do. You already have it! And you can be happy along the way to those things you’ve set out for yourself. These are just some things that I have brought into my daily actions and thoughts to love my life and my business. Try them for yourself and see what can happen for you.
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sales
Building An Intelligent Database
biz travel
Mike Carroll Knowing who to talk to and what to say is a key element of having intelligent conversations. Sales and marketing teams spend lots of time and money buying and managing prospect lists, market data and customer information. And once you have the information, your Customer Relationship Management (CRM) or Sales Force Automation (SFA) system requires constant attention. And while these systems provide extremely powerful tools when used correctly, many installations fail because: •
Only portions of the system are used and there’s little consistency in terms of which parts are used by each sales person. In many cases the sections used by sales people are used incorrectly.
•
Total integration is elusive (it’s very difficult to stamp out all the sub systems and processes, home-grown reports, spreadsheets, and other tools that have evolved over the years, one sales person at a time).
•
There’s often a major disconnect between current customer data and market data (how many prospect accounts have these characteristics?). Without the proper design before hand, this problem only gets worse over time.
•
•
Successful sales people build relationships. Relationships are built on trust and trust requires honesty. Databases are never 100% honest (because the information changes every day). So if a sales person gets inaccurate data they feel they’ve been “lied to” and no longer “trust” the system. And most systems require input from people - sales people, operations people, support people, marketing people, and sometimes customers (web forms or surveys). Guess what? People make mistakes, enter things differently (XYZ Corporation vs. XYZ Corp.), put things in the wrong category, or simply get frustrated and skip it all together.
It’s a lot easier to have intelligent conversations when you build an “intelligent database” that empowers the sales, marketing and customer service team (rather than frustrates them). What does an intelligent database look like? Every organization will have its own unique requirements, but generally speaking an intelligent database should provide the ability to sort, organize and view the data from many different perspectives: •
Account data - by internal parameters (sales team, operational support, etc.); by firmagraphic data (sales size, industry, geographical region); by marketing campaign; by past or potential revenue; by service ticket, etc.
•
Contact data - by title, internal parameters (sales person, operational support, etc.), by marketing campaign; by responses or contacts to your organization (they completed this web form on this date, they stopped by our booth at a trade show and asked about x, etc.); and how each contact relates to other contacts within the account.
•
Activity filters - the ability to sort and organize by relevant activities (marketing campaigns, service calls, presentations, trade shows, etc.)
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Market measurement - understanding your most profitable customers and then how many similar target accounts exist.
We’re seeing more situations where our clients need help building this type of database or finding ways to modify their existing database to accommodate these types of views. It’s a process that takes constant work, but when you get your entire sales team moving together to leverage your data assets, the results can be remarkable.
Attention: Website Design Facts you NEED to KNOW! Fact: “A business can lose 60% of its potential customer base by having a poorly designed website”
Fact: If your website is not visually appealing or information can not easily be accessed, you may be losing a lot of potential business. Knowing these facts, don’t you owe it to your business to take another look at your website? If you find changes need to be made, contact us and we will not only put best practices into place for you, we will also work to align your company goals, marketing strategy, and business processes - giving you a true business asset. Visit our Website www.comstar.biz and read about our design process! Or call us today! (262) 953-6000
Katie Cianciolo
7 Reasons Why You SHOULD Use A Travel Specialist They go by many names: travel or cruise agents, planners, specialists or counselors. They are professionals in their field. There are many misconceptions about using a travel agent, such as: “They cost money, I won’t get a good a deal, I lose my control, The Internet is better,” and so on. This article will dispel those myths. As in any business, you need to check out whom you are doing business with and “referrals” are a good way to start. Travel agents have a highly stressful job as they have no control over the outcomes for which they are responsible. However, a travel professional does control the personal service that they give to you - the client. They, many times, will take responsibility and “make it right” for problems beyond their control. You spend hard-earned dollars to take a dream vacation, and a good travel professional will help you create those lifetime memories and get you the best value for your dollar.
ONE - Save Money Get over the idea that you pay more if you use a travel agent. For most suppliers, the price is the same whether their product is sold via the Internet, direct or with a professional. Travel agents, however, may have some rates not available to the public or that cannot be advertised, such as group rates for cruises. The supplier pays travel agencies, so they do not charge extra fees. The exception to this might be a fee for issuing airline tickets or for extensive hours of research. Most cruise lines and some suppliers have a “no discount” policy, so what you find on the Internet or direct will be the same price. Internet sites/call centers tend not to disclose all fees until the actual deposit process, and they
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“7 Reasons Why You SHOULD Use A Travel Specialist” continued from page 5 usually charge a “booking fee.” They might also want total payment upfront and charge extra for questions. Travel agents can choose to waive or change a fee, if necessary. And, yes, there may be some lower fares on the Internet, but these sites have to make up the difference somewhere, which could have negative effects later. Others are interested in just selling the product and collecting their fee - the end. No follow-up. If a rate drops lower, the “computer” will not be calling you with this great news! Some travel agents have a price guarantee or a supplier will match a competitor’s rate. It’s best to give your loyalty to an agent you trust, and if you happen to find a lower price, ask them FIRST if they can meet that price.
TWO - Save Time Saving you time also saves you money. Many people do use the Internet for initial research, but they still prefer to deal with a travel agent when it comes time to make a decision. The travel agent should ask questions about your likes and dislikes, what activities you enjoy, what type of vacation you want, what your hobbies are and more. From your discussions, the travel agent can narrow down the selection process based on their experience and knowledge, make invaluable recommendations and handle all the aspects of your travel.
THREE - Services
Don’t Use A Hammer When The Job Needs A Drill Stephanie Kern
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What certifications they hold or are working on?
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Are they a destination or supplier specialist?
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If they are a member of a professional association, such as CLIA, NACTA, ASTA, etc.?
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Ask about their community involvement?
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How long have they been selling cruises?
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How long has the agency or host agency been in business?
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How many cruises have they been on?
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Which ships? Which itineraries? Which ships inspected?
Why? - I am not sure what was more surprising, the fact
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Have they handled groups? Is there a group leader agreement?
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Who do they go to with questions?
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What other things do they do for their clients?
that I was surprised, or the fact that I see this far too often. Thus, I feel it is my obligation to bring to the readers of Magazine Soho a few tips on which software applications are best suited for different creative projects.
FIVE - Resources The travel agent should provide answers to your all questions and vital travel information. Travel agencies receive countless calls from those that booked on the Internet. For some reason, the Internet computer failed to tell them important information and now their trip (and money spent) may be in jeopardy. Or clients of other agents call because the office is closed.
With a good agent, you can have price AND service. By choosing a travel or cruise professional, rather than the Internet, you get value-added service. You also have contact with a real person, personal service, unbiased recommendations and product knowledge. Some big Internet players outsource their customer service outside the country.
The agent should be able to give advice on a cruise’s shore excursions or optional tour packages. Travel agents will advise clients on the importance of purchasing travel protection insurance.
You will most likely find a home-based agent to be more convenient and flexible. Ask the agent:
SIX - Assistance The best-laid plans can sometimes go awry, such as a missing reservation, or a medical or family emergency emerges. The travel agent should be available to assist you.
Recently, I received a file from a client that needed creative assistance. I was shocked (and appalled) to find out they were giving me a 150-page training manual created in Microsoft PowerPoint.
If you choose to design or produce your marketing pieces in-house, and ultimately have them produced through conventional printing methods, it is important for you to use the appropriate software in order to facilitate a seamless transition between you and your commercial printer.
Page Layout Applications - Use a page layout application whenever you are creating a marketing piece that includes photos and/or illustrations. This is especially true for multiple-page documents. Some examples include: brochures, newsletters, training manuals, magazines, catalogs, etc.
and Excel are wonderful tools, but they are NOT meant for designing. Use Word for all letters/correspondence, mail merge or text-heavy documents. Technically you could use Word for page layout, but I cannot stress this enough – DON’T. Microsoft Word does not have the rich features and freedom that QuarkXpress and InDesign possess. Microsoft Excel is a powerhouse for tables and charts, and PowerPoint is the go-to man for creating presentations. Continued on page 8
4. Microsoft Publisher
Who is available in an emergency or if the office is closed?
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Can we meet at another location?
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How do I get my tickets?
SEVEN - Insured
Illustration - When you need to create a logo, illustration,
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Examples of how they’ve gone “above and beyond” for a client
Ask the travel agent if they have:
packaging, displays and booth graphics for example, most printers will require you use one of the following applications:
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When To Use Word - Microsoft Word, PowerPoint
3. PageMaker
•
*InDesign and QuarkXpress are industry standards, and preferred by most commercial printers.
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Errors and omissions insurance?
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Liability insurance?
1. Adobe Illustrator
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License or seller of travel permit (if required)?
2. Adobe Freehand (Freehand was purchased by Adobe and will no longer develop further upgrades.)
When you find an agent, make a commitment to do business with them, use their services, ask for prices and have brochures mailed to you. But don’t use them, their resources and time if you have no intention of doing business with them. Be honest and avoid deceptions. You should get excellent service in return.
manipulation applications is Adobe Photoshop. Your digital camera or even your PC may come preloaded with free photo manipulation software, but the best choice is Adobe Photoshop. Use Photoshop when you need to adjust the color of a photo, reduce the size of a photo, design a creative background, or even for designing Web site graphics (along with Illustrator.)
2 QuarkXpress*
What are the office hours?
With the price issue out of the way, that brings us to making agent or agency selection and product knowledge. Qualified travel professionals might work in an office setting or be homebased. Many agencies also have a Web site and might offer booking options via the Internet. Do not confuse call centers, reservationists or Internet sites as having “qualified” agents. Also, don’t confuse some of the emerging multi-level marketing schemes passing themselves off as travel professionals.
Photography - The king or queen of all photo
1. Adobe InDesign*
•
FOUR - Knowledge
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marketing and design
Some agencies may specialize in certain types of travel, such as cruises or niche markets. If you are interested in taking a cruise, you could ask the travel agent:
3. Corel Draw
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leadership and development
“Don’t Use A Hammer When The Job Needs A Drill” continued from page 7
Tidbits Of Advice - Don’t Mark I. Vincent, Ph.D. CSP
forget, when you create a document for page layout and plan for that document to be output by a commercial printer, you will need to include the following:
Loop de Loop de Loop
1. All photos you have placed in the
Leading Toward Wisdom In Your Organization
2. All illustrations you have placed in
I enjoy relating in conversation with a variety of small groups. A recent session brought up the discussion of wisdom in organizations. We began with the difference between single-, double- and triple-loop learning.
3. All fonts you used in the document 4. All of your photos/illustrations are
Single loop is a mere observation. We could call it data or information. An example is getting my hand pinched in a door. Oww, that hurts! Double loop is information that I carry forward to future possibilities. We call this knowledge. I avoid getting my hand pinched in future situations by keeping my hands clear from closing doors. Whew, I avoided that one! Triple loop is working backwards to understand the physics involved and working forwards to apply my knowledge in new situations. This is where wisdom is on display. I not only avoid getting my hands pinched, I help others avoid it too. Also, I notice other ways that pinching can happen and learn to avoid them without getting hurt, continuing to pass my insight along to others for their benefit. And, I notice how this works figuratively, as in relationships, and not just physically. Wow, look what we got done together! In my small group discussion, one friend pointed out that one must believe there is wisdom to be gained or they would not take the time to find it. He went on to observe that we also must be committed to wise use of that wisdom (at which I wondered if one can be considered wise if they do not act wisely). So, how does one demonstrate such a commitment, particularly as a leader in organizational life? It begins with being “others-centered” - a commitment to help others perform well, an openness to learn from the experience of others and a love for working with others to generate knowledge that can be passed along. Without this value, one works solely for themselves and uses others in ways that benefit selfish desire. There may be short-term benefits from acting in totally self-interested ways, but the long-term organizational and personal benefit is ultimately sacrificed.
document the document
in the correct color space. What is color space? If you are sending your file to a printer, you need to be using CMYK, which stand for cyan, magenta, yellow and black. I could throw spot colors in the mix, but then things would get too complicated. If you do not plan to have your document printed, then you may use the RGB – red, blue and green – color space, which is the standard for all computer displays. Does all of this sound foreign and too much to remember? Then I have a solution: hire the professionals. If you ever wondered why marketing and design services are expensive and take too long to produce, it’s because they have plenty of training (past and continuing), knowledge and talent. They enjoy the creative challenge, so challenge a designer today!
If I am not “others-centered,” I cut off a major flow of information from which I might benefit. If I refuse to listen to the wisdom of others, I end up in single- or double-loop learning only. Single- and double-loop learning is important, but cut off from wisdom, single- and double-loop learning become more expensive to the organization. Leaders and line workers end up flailing around and learning by bumping into things, and through accidental discovery. May we be cursed with happy accidents, but may we not become dependent upon them! Wisdom demands our deliberate attention to the matters at hand for the benefit of those who come this way after we do.
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OUTLAWS HAVE MORE FUN.
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Casey’s videos range from funny entertainment to motivational, and from tutorial to autobiographical “vlogging (video logging).
Say hello to the “miltownkid.” That’s right; miltownkid—all lower case. Still known to most as “Casey Payne,” at 28 years, he’s Gen Y’s answer to society’s notion of the Renaissance man. All sorts of people from around the world are finding they can’t get enough of Mr. Payne’s “daily” dose. Whether it be his latest insights on Guitar Hero, micro vs. macro economics, Chinese lessons, or even his highly personal challenge with having bipolar disorder, you can believe that he has loyal fans hanging on his every word. It was the evening of Saturday, June 7th, and possibly the worst day of thunderstorms and tornado warnings Milwaukee has brewed up this year, as Casey and I chatted over snacks and beverages at Water Buffalo in the city’s Third Ward. I sincerely thanked him for braving the storm to meet me, but he said he didn’t mind, and that while living in Taiwan, he had seen many a typhoon that made our day’s weather look something like a pleasant picnic. Friendly and unassuming, while donning an outward intensity that is striking and yet refreshing, it quickly becomes apparent why miltownkid makes sense. He is as excited about life as is a little kid waking up on Christmas morning. Casey is a full time economics major, fluent in Chinese, an IT pro, and a winning Brazilian jiu-jitsu competitor as well as a member of the YouTube Partner program. He explains that he applied to become a member, and to his surprise, a few days later he was accepted over “tons” of other candidates. “If you have enough subscribers, and you’re videos are getting enough views, and you’re content’s okay, they merge your account with Google Ads, and then share the revenue from the ads with you.” Other benefits include larger file downloads, the ability to add banners,
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and more. He feels YouTube is a great marketing tool. “It all started with ‘The Red Ring of Death’ video. You can Google it. I was having a problem with my X-Box, and I was so frustrated, I decided to make a video. I said, ‘I’m gonna document this!’ Mainly just to stick it to Microsoft. People thought it was funny, and then I started getting requests for more funny videos.” Casey’s videos range from funny entertainment to motivational, and from tutorial to autobiographical “vlogging (video logging).” He enjoys the freedom the internet allows to do things his way. Some fans prefer just one subject; others, something else. He takes all viewer comments into consideration as to hone his brand into something that is both for them and for himself. “It’s a balance between doing what you want to do, and what the audience wants you to do.” His ideas seem to be endless. Casey has a plan for a barter exchange business, mainly for one-man shops. Another hope is to create a better kind of school designed to help creative people realize their visions. He thinks this group is much bigger than most assume. He taught English in Taiwan for five years to kids ages four to fourteen; a major life changing experience. “It was part teaching, part entertainment, and learning to deliver a message in a way that it would be received. You can’t force it into them,” says Casey. “It’s connecting with kids on their level--which is really a higher level. Kids really are like sponges. They want to learn if somebody is just willing to explain things to them. My name is miltownkid for a reason. I think of ToysR-Us, and their slogan, ‘I don’t want to grow up.’ And I made a commitment to that.” Visit Casey at www.miltownkid.com.
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accounting
Selling Your House: More Than Just Accepting A Bid John Chiapetta It’s the middle of the year and are you still thinking about taxes? Maybe you are, but maybe you’re not.
“How are you communicating with your potential customers? Are you familar with new media?” At VanderBloemen Creative we make it our priority to stay on top of new and innovative ways to assist our clients with their marketing and design. Let us show you some of the exciting new ways to promote your business and reach more people. Visit our web site at www.vanderbloemencreative.com or call us at 414.828.2123 to schedule a free consultation.
VanderBloemen Creative LLC marketing & design for growing businesses
Obviously, there are a lot of transactions that happen during the year which affect your year-end tax return. Over the past few years, I can say that the sale of a principal residence or investment property has ranked high on the list of taxpayer questions. Even in this down real estate market, there are quite a few inquiries.
In essence, you need to be in your home and using it as a principal residence for two years at the date of sale.
The sale of your home or principal residence is governed by IRC§121(b). The rules have changed over the years and still might not be clear, so let’s look at the rules in the simplest of terms. There is an exclusion of gain on the sale of a principal residence of $250,000 filing single, or $500,000 married filing joint. Wow, what does that mean? Let’s take a look at the following examples:
So, what happens if you sell your house within that two-year time frame? And what is that like-kind exchange mentioned in No. 1. Basically, I am running out of space and will need to continue next month with some additional information on the sale of a principal residence. Also to follow is ownership and sale of rental property.
My cousin Vinny lives in a relatively new subdivision in Illinois. He has had his house with his wife and children for about three years. He was given the opportunity to work in Milwaukee. For this new position, he wanted to sell his house in Illinois and move to Wisconsin. He originally purchased the house for $350,000. He has it on the market for $400,000. If he gets the asking price, he is well below the $500,000 exclusion of gain. Vinny gets to keep the money, tax-free. Now, Vinny’s sister Carmela lives nearby. She is much younger and is living the single life. She likes to stay with family and decides to leave the subdivision in Illinois and move with her brother Vinny. She originally purchased her home for $300,000 and has it on the market for $365,000. If she gets the asking price, she will have a tax-free gain on the sale of her personal residence of $65,000. She falls into the $250,000 exclusion of gain for a single individual. Well, is this too good to be true? Of course, our government imposes ownership on use tests for the above to stand. Let’s take a look at some of the rules:
1. Gain may be excluded only if, during the five-year period that ends on the date of sale or exchange, the individual owned and used the property as a principal residence for periods aggregating two years or more. If the house was acquired in a like-kind exchange, the taxpayer needs to have an aggregate of a five-year stay.
2. There is relief of the above rules for uniformed services, foreign service and intelligence personnel called to active duty away from home.
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business coach
See Sunshine Where Everyone Else Sees Rain Jim Palzewicz Read today’s newspaper or listen to the news, and there it is - negative thinking! You’re reminded at every turn that there’s plenty of blame and excuses to justify why your business is not performing to your expectations. Yet I know plenty of entrepreneurs who are having their best year ever! What’s their secret? How can you apply what they already know to reach your business goals, despite the economy?
Exceptional people become available due to layoffs and cutbacks. This can be your best opportunity to grow your business, market share and talent pool at wholesale, not retail prices. Isn’t this how successful investors maximize their portfolios? Solidify your market position as a solid, successful company by continuing your marketing and sales presence. Now is the time to outshine your weak competitors who are cutting back on their marketing and staff. Grow your market share now, and as the pie your market - grows again, your pie slice will be even larger.
Some strategies to accomplish this include: • Take advantage of better pricing for marketing and advertising. • Test and measure to ensure your marketing is focused on achieving sales results. • Tailor your marketing message to your customer’s pain.
Reduce costs and increase profits by focusing on selling more of what you already have, rather than investing in new product development. Adapt your sales process to change your prospect’s attitude by addressing economic concerns and objections up front, and how you will help them to achieve their goals. I know of a business in the construction industry that, by focusing on improving its sales process, grew its Q2 written orders by 624 percent over Q1, and is on track to double its revenue and explode its profit in 2008. What’s holding you back from making this happen in your business? If you’re getting excited about today’s market opportunities, your mind-set is moving in the right direction! Times like these determine the market winners from the also-rans. How are you making 2008 your best business year ever? Let me know by visiting my blog, “The SOHO Biz Doctor” at www.sohobiztube.com.
Thanks for seeing the SOHO Biz Doctor, the cure to what’s ailing your business!
• Get even closer to your customers and cement their loyalty to you as a problem solver. • Partner with your clients to outsource more of their needs to you as they cut costs and staff.
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Business Consulting: Enhancing Strengths & Releasing Sabotaging Fear Factors These business owners are simply applying what successful people have known throughout history – your ATTITUDE determines your RESULTS. It’s gutcheck time. How’s YOUR attitude doing? Let’s review the mind-set of successful entrepreneurs in today’s economy. Today’s successful business owners realize the economy is constantly changing and runs in cycles. Some aspects may be doing well, others doing poorly. It’s imperative to look at the big picture
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and make time to think long-term. While negative thinkers are overwhelmed and anxiously waiting out the storm, successful entrepreneurs take ownership for finding the opportunities that today’s economy is offering them. They stay current but don’t dwell on negative news, which they know is a constant threat to their positive mind-set.
NOW is the time to become a better leader for your team. Their attitude is simply a reflection of what they see in
you. Expect your best year ever, and focus your team on the actions that will make it happen. Your positive momentum today is the seed for tomorrow’s success. Business Organization Commercial and Residential Real Estate • Contract Preparation & Negotiation • Employee Benefits • Environmental • Estate & Business Succession Planning • Labor & Employment • Land Use & Zoning • Litigation/Dispute Resolution • Tax •
Financial mastery is necessary to take advantage of today’s opportunities. Cash is king, so budget your cash flow and strengthen your banking relationships so that funding is available to take advantage of opportunities that present themselves to positive thinkers. Weaker competitors may be ripe for acquisition at bargain prices.
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DELAFIELD 400-D Genesee Street Delafield, WI 53018 TEL 262.646.5812 FAX 262.646.3340 M I LWAU K E E 700 North Water Street Milwaukee, WI 53202 TEL 414.276.5800 FAX 414.276.0458
Personal/Group Development: Team empowerment Connecting team members to a collaborative goal. Stress Management: Corporate Chair Massage
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web design and IT
legal eaze
Web Writing: Much More Than Putting Pen To Paper Diane Myer
Avoid The Horror Of Workplace Violence Attorney Debra A. Slater
Your Current Web Site Content How did you decide what content was going to go on your Web site? Did you just take the text from your sell sheets and other materials and type it onto your site? If so, you need to know that the content on printed materials may not be effective for the Web. Print media does not always translate well to the Web site because there are certain techniques for online writing that you need to follow. Why would the print media not translate well? The answer is that visitors to your Web site have a different reading style
than say those reading a printed document. When visitors come to a site, they quickly scan the page for relevant information that jumps out at them. Chances are they will not sit in front of a computer screen and read word for word. Therefore, your content needs to be presented effectively, have the ability to be read quickly and be easy to understand. Below are some tips to implement for easy-to-read content for the Web.
Writing Tips
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Use bullet points instead of long sentences or paragraphs. While a lot of details may be fine for a printed document, Web site visitors want concise points. Don’t try to make a hard sell on the Web site. Putting the words “Call Today” at the end of a flyer may be fine, but on your site, try putting calls to action within paragraphs to help you ease into the sell. Do not make the content of your site dependent upon content on other pages. In printed documents, there should be a flow with the information, but online a visitor may enter any page and they have the ability to click from page to page so they may not be getting the whole picture. Put your most important content first, and at the top of the page above the fold line. A printed document may have an intro and ease into the important information, but many visitors online do not take the time to scroll. Having the most important items first may increase the chance that they are reading the items you really want them to read. Use headlines or bold text to make words stand out and do not underline text. Remember, on a Web site you must never underline text unless it is a link.
Resources If your company is struggling with content, there are some resources that can assist you. If you would like an internal person from your company to do some research, I would recommend the book “Call to Action.” It has a section on how to write for the Web and provides real-life examples. If you feel that writing content would be better outsourced to a professional, check with your Web site designer. Some Web site design companies offer the service of professional copywriting for a small fee. Remember, the content on your Web site should be updated regularly and it should be written specifically for the Web. Better content leads to increased interest from visitors, which leads them to take action and contact you!
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Increasingly, the news contains reports of workplace violence. The stories are usually bizarre and often come to a tragic end. Typically, they represent the culmination of events that, in hindsight, could have been better controlled. This article will explore some steps employers can take to minimize the risk of workplace violence.
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Supervisors should be instructed to be on the lookout for any changes in employee behavior and to take all threats seriously.
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Discussing a new design for a Web site can be a very exciting and emotional experience for a company. However, it is easy to get caught up in the look of the site and forget about the most important element, the content. A new Web site design should signal the need to take a look at the content as well. Writing for the Web is very different from writing a printed document. I want you to ask yourself: Is our content appropriate for the Web?
A careful employer should review all job applications, conduct in-person interviews, contact references, check criminal records, and in appropriate cases, perform drug tests. When reviewing an application, employers should note any unanswered questions, suspicious reasons for leaving other jobs and any inconsistencies. The applicant should be asked why he/she left previous employment, and the employer should ask for permission to contact previous employers. Then, it should contact them. Job application forms should include a statement signed by the applicant stating that all of the supplied information is true and acknowledging that falsifying the application is grounds for termination.
mentioning a testing program can cause a problem applicant to walk away. If an employer decides to implement a testing program, it should formulate a clear, written testing policy, communicate it to applicants and include a statement on the application form that drug testing may be part of the application process. In dealing with an existing work force, an employer must guard against situations that can escalate out of control. Supervisors should be trained to give fair employee evaluations and to establish and enforce harassment policies, grievance procedures and security procedures. Supervisors should be instructed to be on the lookout for any changes in employee behavior and to take all threats seriously. An effective harassment policy should not only inform employees of the procedures to be used to report questionable behavior, but it should also encourage them to report any questionable behavior, no matter how minor. Consistent with this policy, employers should uniformly and immediately enforce all rules that prohibit threats, horseplay, fighting and weapons at work.
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A personal interview should ensue, as it is an invaluable tool, giving employers a chance to evaluate the applicant’s reaction to probing questions. During the interview, an employer should ask about gaps in employment or education, question the reasons for frequent job changes, and evaluate the applicant’s overall demeanor and interpersonal skills. An employer can also learn a lot from references. Not only will an employer learn about the applicant, but also the applicant’s choice of references could be revealing. When speaking with references, employers should ask them the reason for the applicant’s departure and eligibility for rehire. An employer may also want to ask whether they believe the applicant will be a good fit for the job in question. In Wisconsin, it is illegal to deny employment because of a prior criminal conviction unless the circumstances of the conviction relate to the job in question. Nevertheless, employers should check an applicant’s background for felony convictions and then evaluate the nature and severity of the conviction relative to the job in question. Some employers require drug testing as a condition of employment once they make a job offer. Often, merely WE LIKE TO WATCH: www.sohobiztube.com
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“Avoid The Horrow Of Workplace Violence” continued from page 17 Once an employer learns of a problem, it must take immediate action. This includes determining such things as what happened, when and where it happened, and the identity of witnesses to the event. As it gathers this information, an employer should listen carefully to the perpetrator’s version of the incident, consider whether to suspend the perpetrator during the investigation, prevent the perpetrator and victim from coming into contact, keep the investigation confidential by only sharing information on a need-to-know basis, and consider using the assistance of outside professionals.
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If an employer ultimately decides to terminate a potentially violent employee, it should alert security personnel (if it has them) or area law enforcement. It should also alert the victim. If possible, the termination meeting should be held in a neutral location - away from the work site. There should always be at least one other manager present during the termination meeting, and the employer should emphasize business-related reasons for the termination. It should also consider getting a restraining order against the employee.
finance To Sell or Not to Sell…Taxing Questions For The Small Business Owner
Selling the business may be one of the toughest things a small business owner will ever do. Aside from the emotional aspects, it takes time to sell a business and the sale can often stretch out over a number of years. And, for those contemplating the sale of their company or preparing ahead to retirement, concerns about the actual sale often revolve around taxes. But minimizing the tax liability is actually an end result rather than the heart of the plan itself. The issue most worthy of a business owner’s worries is developing a solid succession strategy. Succession planning is a must to help ensure a promising future for the business, maximize the sale price and minimize the taxes due at the time of sale. A lack of careful succession planning can be a major downfall for a business owner and is a key reason why two-thirds of all family firms do not succeed to the next generation.
Workplace violence is a growing problem. Employers can help to control it by reviewing hiring practices, establishing and enforcing effective harassment policies, and taking problems seriously when they develop. Employers should also recognize that they might need to involve outside professionals to provide assistance and outplacement services that are beyond their expertise. Ultimately, the best prevention may involve nothing more than taking potential problems seriously with a willingness to address them.
Unlike a family heirloom or a parcel of real estate, a business is not something that can be easily valued and sold in a day or on eBay. It is not self-sustaining and does not run on “auto-pilot.” If the owner were to leave or if a new person should step up to the plate, a company’s shape, focus and ultimate success are all at stake. A business, then, must be treated differently than any other part of an owner’s estate and much consideration is required in order to successfully transfer its ownership. The process can vary from business to business, but some of the steps in business succession planning include:
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Examining and clarifying the owner’s objectives and motives. Are funds needed for retirement? Does the owner need to provide for surviving heirs? Would the owner like to continue working but be freed from some of the day-today worries of running a business?
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Identifying potential buyers. Often, family members are high on the list, especially if they are already involved in running the business, but aptitude and talent must be considered. Sometimes (non-related) key employees or an outside third party might be better suited to fill the owner’s role.
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Determine the buyer’s financing. Will succeeding family members need help in financing the purchase? If a nonfamily member has made an offer, how secure is the payment? What are the terms and what is the buyer’s financial integrity? Does the owner/seller need a steady stream of income, or is a lump sum preferred? Timing the succession. Does the owner/seller want to continue working as long as possible or retire in five or 10 years? Will the succession occur gradually, or does the owner/ seller want to completely walk away from the business?
When the context is fully understood, attorneys, accountants, insurance representatives and other financial professionals can help the owner determine the most effective way to address concerns such as minimizing the tax liability. The heart of the matter is to know where the owner wants to go with the business and why. Finding clear objectives can be difficult, however. The emotional, physical and financial investment is so high, just imagining stepping aside may be difficult. The objective, third-party perspective of outside consultants can often help an owner solidify and prioritize objectives. Professionals knowledgeable in business succession planning can also help business owners determine a future direction, develop a plan and help increase the chances for a successful sale of the business when the time comes. Tax liability, while a valid concern, need not impede a business owner from accomplishing his or her dreams. The most important step is to know exactly what those dreams are and developing a plan that can help turn them into a reality.
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life and work balance Love: The admiration and love I receive from the girls Jose Vazquez
‘Coach, I Did It!’ I don’t know where to start with coaching. I have to say it has been one of the most rewarding things I have ever done in my life. I can finally tell people I did something important in my life! I often think about how empty my life would be without my softball team. Those six hours I spend a week with the girls, I learn more about living life the right way than I do spending 100 hours a week with adults. There are so many rewards it is hard for me to collect my thoughts, so I will break down three of them.
cannot be replaced. I see them at the grocery store, their eyes open wide and they scream, “Coach!” They run up to me and give a big hug. Then they proceed to tell me what is new in their life. That feeling can never be duplicated with a substance or man-made item. I firmly believe this is a basic need for all entrepreneurs to function at their best.
Fundamentals: So many coaches concentrate
on winning that it takes the fun out of the game and leaves girls lost on how to play the game properly. I learn that you have to break it down to the absolute fundamentals of the game. One season my team was extremely overmatched on paper. I had the youngest and least-experienced team in the league. Teams were whooping us bad, but by the end of the year, we beat the best team in the league. The assistant coach came to me and asked me how I was able to get the girls to improve so fast. I told him that I learned a valuable lesson in life: I did not concentrate on winning but I did concentrate on making the girls feel like winners. So many leaders put the focus on the end result or the sales goals and not the fundamentals it takes to reach the goals. I now concentrate all my efforts on developing my sales team and less on the results. It has been amazing to see. As the belief in my reps goes up, so does their revenue numbers. Man, life can be so simple. I know we have a way of complicating things.
Refreshing: This enlightenment has been
amazing. At times, I can get focused on the business from sunrise to sunset. My mind is wrapped so tight around the business you could not peel it back with a crow bar. Since I became a coach, I now have a healthy outlet to release my mind from the business. For those two hours during a game or practice, I forget I’m a business owner, I forget I’m married, I forget about all my challenges. My mind is completely released from the world and 100 percent of my concentration is on the girls. Watching the girls get better, game-by-game, and having them yelling to me, “Coach, I did it! I finally did it,” have become priceless memories in my life.
After the games, I’m alive with energy, and my mind is refreshed and ready to take on the challenges that will arise. My mind is rested and ready to go at it 100 percent! I could go on and on with the benefits of being a coach. I highly recommend entrepreneurs get involved in any activity that involves children. Children live off true principles, and their energy is contagious. They will command your attention and give your mind the break it needs from the business. I assure you the rewards will be second to none. 20
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