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I'm So Proud of What We've Built Here in Cleveland, I'm 20150302-NEWS--25-NAT-CCI-CL_-- 2/25/2015 1:40 PM Page 1 Vol. 36, No. 9 Entire contents © 2015 by Crain Communications Inc. $2.00/MARCH 2 - 8, 2015 ADVERTISMENT I’M SO PROUD OF WHAT WE’VE BUILT HERE IN CLEVELAND, I’M PUTTING MY NAME ON IT. 09 7 NEWSPAPER 74470 83781 0 20150302-NEWS--26-NAT-CCI-CL_-- 2/25/2015 1:41 PM Page 1 AND MY PERSONAL CELL PHONE NUMBER. So, I made it offi cial. The Collection Auto Group is now Bernie Moreno Companies. It’s a symbol of my commitment to personal service and attention to detail. I personally stand behind everything and anything related to my dealerships. That’s why you now have my personal cell phone number. Or you can email me at [email protected] The name may have changed, but our motto,“Where Above and Beyond Comes Standard®,” will always be at the very heart of what we do. So, when you’re at a dealership displaying the Bernie Moreno Companies logo, you can be sure it is 100% committed to doing whatever it takes to earn and keep your business. Over the last ten years my family and I have established deep roots in the community and you can be sure we will be here for as long as we are in business. And, if you ever need anything, just give me a call. I am so proud of how committed every one of our 850 team members are to our vision statement of “creating positive memories”. What can I do for you today? 20150302-NEWS--1-NAT-CCI-CL_-- 2/27/2015 9:56 AM Page 1 $2.00/MARCH 2 - 8, 2015 How Cleveland’s people, places and past created a culinary destination. Pages 15—20 20150302-NEWS--2-NAT-CCI-CL_-- 2/27/2015 10:10 AM Page 1 Small Business Matters i Want more information and resources on this week's topics, ideas and events? Go to www.cose.org/smallbizmatters. PRESENTED BY 52 TIPS FOR YOUR BUSINESS #9: Don’t Just Network, Engage! “There’s no denying that building a 2. Set Goals for Your- March 2 professional network is critical for successful self. Networking is not just business owners, and networking is a great a race to collect as many way to establish new contacts and engage business cards as possible; with and learn from others,” says Ed Stevens, it’s about opportunity and Chairman and CEO of Stevens Strategic making real connections. By By The Numbers Communications, Inc. “Social media sites like setting goals for yourself, for LinkedIn are helpful networking and promotional example the number of new Do you believe there will be growth tools, but they cannot take the place of face-to- contacts you want to make, opportunities for your business face interactions that allow you to expand your you can better focus your in the coming year? network and cultivate quality relationships.” time and energy on meeting /LYLHYLHML^ Z\YLÄYL Z[YH[LNPLZ [V JVUULJ[ the right people. and engage at your next networking event: 3. Don’t Just Talk, Listen. “You’d be 1. Do Your Homework. When attending a surprised at how much people are willing “I’ve found that you can’t do everything by networking event, preparation is key. Find out to share about issues and challenges in the yourself in business,” says Stevens. “If done who else is going to be there, make a list of ^VYRWSHJL PU VYKLY [V ÄUK ZVS\[PVUZ¹ ZH`Z right, networking is an opportunity to meet people you want to meet, and then do a little :[L]LUZ¸@V\»SSÄUKT\JOTVYLZ\JJLZZPM`V\ knowledgeable people, make connections YES R research so you can talk intelligently to them try to help someone solve a problem, even if and exchange solutions. emember, we are all about their business. If you’re uncomfortable you are just making a referral or pointing them in this together.” 54% approaching someone, ask someone you in the right direction, rather than trying to make i For more tips on engagement through know to introduce you. a sale.” networking, visit www.smallbizmatters.com. Up 9% from July 2013 Business Pitch Competition Deadline Nears SOURCE: NATIONAL SMALL BUSINESS ASSOCIATION 2014 YEAR-END ECONOMIC REPORT Entrepreneurs with new business ideas VM Q\KNPUN [OH[ J\STPUH[LZ ^P[O[OL ÄUHS MV\Y TIP and owners of recent start-ups have just two WSHUZHK]HUJPUN[V[OLÄUHSZPU4H` weeks left to enter the Business Pitch Compe- Winning the contest can make a real dif- tition presented by COSE. The popular com- ference in the successful launch and growth Deadline for submissions is WL[P[PVU VɈLYZ WHY[PJPWHU[Z of a new business, just ask March 19, 2015. For more information Owner Resources cash prizes totaling $40,000 the 2014 Business Pitch or to submit an entry, log on to as well as invaluable feed- Competition winner Ryan www.cose.org/pitch. Workers’ Comp Deadlines back from small business Schoeneman of Colby &RQWDFW&26(QRZWRıQGRXWKRZWRVDYH experts. Entering the con- Featherbottom’s Custom ment needed to expand and automate our PRUHRQ:RUNHUVŖ&RPSHQVDWLRQSUHPLXPV test is as easy as provid- Sound Machines. “Since guitar production. With greater automation, &DOO ZLWKTXHVWLRQVRUWRVFKHGXOH ing an executive summary winning the COSE Small Featherbottom Guitars has been able to intro- DPHHWLQJZLWKDZRUNHUVŖFRPSSURIHVVLRQDO (two pages maximum) and Business Pitch Competi- duce a new lower price custom guitar line that a two-minute video pitch. tion, I was able to purchase targets a much wider audience, increasing our Entries go through a series the manufacturing equip- sales twofold.” 2016 WORKERS’ COMP DEADLINE DATES TO REMEMBER ASK THE EXPERT 5HTXHVWD:RUNHUVŖ&RPS*URXS5DWLQJ4XRWH MARCH – OCTOBER 2015 *URXS5DWLQJ4XRWHV'HOLYHUHGWR%XVLQHVVHV “How can I build capital for my business?” JULY – OCTOBER 2015 L L L L W S L WL SS Whether you are starting a business or have HUK Ɉ J[P] ^H`[VYHPZ JH P[H Z JPH `MVY 'HDGOLQHWR(QUROOIRUNOVEMBER 18, 2015 ‘‘an existing business that needs additional capi- start-up businesses. These investments are tal to grow, there are a number of ways to go usually structured as loans or as investments in HIV\[ I\PSKPUN JHWP[HS ;OLYLHYL KPɈLYLU[ KL- exchange for a small stake in the company. NYLLZVMILULÄ[ZHUKYPZRZMVYLHJOVW[PVUZV Equity Financing. ,X\P[` ÄUHUJPUN JVU- deciding which option is right for you depends sists of establishing a value for your company on where you are in the business cycle and how and selling equity in the business to investors. much risk you want to take on. Following are This is a popular capital-generation option, Connection Calendar four ways to boost your business capital. especially for high-growth small businesses Y Bootstrapping. The DI method of capital that are attractive to angel investors and oth- SMALL BUSINESS BOOT CAMP #1 investment, bootstrapping is essentially ers looking to diversify their investments. This “MONEY MATTERS” leveraging personal assets to self-fund your can be a win-win situation in that the business Chances are, at some point in your business. This capital injection – or “paid-in owner gets needed capital, and the investor business growth cycle, you will need to draw Featured Speaker: Claude Booker, capital” – requires the owner to make a cash has an opportunity to get a better rate of return VU VUL VY TVYL VM [OLZL ÄUHUJPUN VW[PVUZ 0 Simply Southern Sides investment in, or loan to, the business. The based on your company’s growth. advise all business owners to build a team of WEDNESDAY, MARCH 11 amount of a loan from the owner will typically Debt Financing. +LI[ ÄUHUJPUN PZ H IHUR trustworthy professionals, including a banker, 11:30 AM – 1:30 PM be required to be on repayment standby in loan used to fund capital investments. There *7(H[[VYUL`HUKÄUHUJPHSHK]PZVY[V^LPNO Crop Bistro the event that you require a bank loan or need are a good number of ways to borrow money at out the options before making‘‘ any plans to Cost: $25 COSE Members, HKKP[PVUHSÄUHUJPUNPU[OLM\[\YL)HURPU]LZ[VYZ attractive rates today. Banks will often partner fund your business growth. $40 Non-Members, Lunch Included always want to know how much of your own with the Small Business Administration (SBA) WESLEY GILLESPIE, Senior Vice President and money you invested in the business, which to make guaranteed loans to small businesses. Regional Manager of Core Business Banking, / shows a level of commitment. There is a common misconception that SBA To register, visit www.cose.org events. FirstMerit Bank The Inner Circle. An alternative means of loans are reserved for start-up businesses, but raising capital is to tap into your network of fam- these loans are abundantly available to new, ex- i Check out some capital-building resources at ily and friends. This funding option is a popular panding and rapidly growing businesses. www.smallbizmatters.com. Check out www.cose.org/events CONTENT PROVIDED AND PAID FOR BY THE COUNCIL OF SMALLER ENTERPRISES for all the latest happenings. 20150302-NEWS--3-NAT-CCI-CL_-- 2/27/2015 1:24 PM Page 1 Fun to watch. Fun to drive. 2015 RX350 AWD CLASSIC LEXUS PER MO LEASE $479 36 Month lease requiring $1,995 Cash or Trade due at signing. 10,000 miles per year and 25¢ charge per mile over. Plus tax, title, license and doc. fee. ALL WHEEL DRIVE (St#9021978) In stock only. Fun to save. LEXUS LEXUS LEXUS 2015 Lexus GS350 AWD 2015 Lexus NX200T 2015 Lexus RC350 AWD “Sparkling performance, superb ALL NEW FOR 2015! 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