This article is a departure from the usual small business issues I write about – come to think about it, so was last week’s article. However the subject of this article is at the root of one of the key challenges we all face – business or otherwise. That is the issue of taxes and why it is so hard to make the decisions necessary to do anything about it.

I’m participating in a strategic planning review with the objective:

“Propose a model for a more coordinated and unified approach to economic development in Cumberland County. This model should improve and strengthen the collaboration among existing economic development organizations” and thereby, improve economic landscape of Cumberland County and its municipalities and communities.

Our committee formed in late February and we are to submit a final report late June. We have met every other week since the initial meeting in February – seven meetings in total, 6 to-date, averaging 1 ½ to 2 ½ hours each.
The committee of 24 (Yes, Twenty-four; can you see the challenge already?) charged with “thinking outside the box” for a new economic development model.

(This isn’t an apples-to-apples comparison, granted; however it will be interesting to note that Wright Express a $1.4 Billion company, has a total of 7 – SEVEN - members on their board of directors and only 7 (one who is also a director) Senior staff at the Executive level.)

Our committee members include:
4 – Private Sector
o Yours truly; solo-preneur and a company of 1.5 (on a good day)
o Small business owner with just over 20 employees
o Manager at a broadcasting firm.
o Hotel general manager

20(+ or -) Public / Government Sector
• Representatives from
o GPCOG (Greater Portland Council of Government),
o Westbook DECD (Dept of Economic and Community Development),
o Maine CED (Center for Enterprise Development),
o Maine SBDC (Small Business Development Center),
o SEDCO (Scarborough Economic Development Corp.),
o CVB (Convention & Visitors Bureau),
o SBA (Small Business Association)
…I could go on – but you get the idea.

Each of these organizations (and there are others not represented here) have important objectives relating in some way to economic development efforts for the state, a specific region or municipality of Maine. From looking at the above list you get the clear indication that duplicated efforts and redundancies probably exist. Doing a bit more research you’ll find this IS the case and a lack of coordination between theses organizations also exists.

These are very intelligent, strong willed and determined people trying to do the best for their municipality or region but they have a difficult time seeing the forest for their own trees.

Back to the committee: Here we all are in a room; 5 to 1 – public (the trees) to private. Continuing with the forest analogy, the objective this group has been given is to “prune the forest to clear away some of the trees to make it a more manageable, productive and attractive forest. A more attractive and healthy forest will support and grow a wider variety of healthy animal, vegetable and mineral.”

In effect, what most of the committee members are being asked to do is to put their own position, division and staff on the line in order to generate the discussions that need to take place in order to address consolidation, alignment of efforts and coordination. This hasn’t happened yet, but we’ve still got one more meeting to go. ...there's still hope.

This article mentions economic development, and no - this isn’t exclusively an ED issue, but a government issue in general. As professionals and small business owners, it is up to each of us to be aware of where our tax dollars go. If we don’t like it we should make our opinions known at the level that can effect change. And I suggest we get away from merely whining, griping and complaining - and educate ourselves about the situation well enough to offer suggested alternatives. Better yet, we should take the next step and make an effort to effect the change ourselves, which is what my thought was when participating on this committee.

Now, back to the committee; I DO have a suggestion – 2, in fact.

1) Put all the ED, ABC, GPCOG, DECD, SMED, CED, XYZ directors in a room and tell them they each have to cut the bottom line of their budget 15% while maintaining the same objective their full budget supported. To do so they will have to align with each other; partner and leverage each other’s resources and efforts. Then close the door and not let anyone out until they play nice and reach an agreement.

Or

2) Scrap this committee and form a smaller committee to address the same question. However this group will be comprised of equally intelligent and passionate individuals – however eliminate the “trees” on this first go-round of talks to get real “outside the box”…or forest ideas.

Regarding the trademark issue from the last article.... I'm going for option 2 - the letter approach. I'll keep you posted.

Until next time, Be BOLD. It's all about RESULTS and it all starts with a vision.

On June 29 (DATE FIRM) Bold Vision Consulting will begin offering the 1st of a 2-Series program “Promotion Action Plan - Attract More Clients than You Can Handle With Less Effort by Becoming Recognized as an Expert in Your Field” exclusively for Professionals whose business is their expertise. Independent Service Professionals interested in more information please email info@boldvisionconsulting.com.

Bold Vision Business Intensive program will be launched in July or August. The Business Intensive program is a series of 8 90-minute classes. Two programs will be launched; one that will meet in person (South Portland, ME) and one that meets via teleconference. For more information send an email to info@boldvisionconsulting.com.

For all you small business owners out there, have you considered trademarking the name of your business? How about your logo? Yes? No?

Well I did a while back, but didn’t think there was a need to. I’m such a small business. Here I am in Maine, small business consultant, a nice web presence, a few small clients out of state in my home state of Texas – but no big brand and no plans to slap my logo on products or billboards across the country.

Well here’s a lesson for all of you who have invested in a business; the name, the logo, the domain name, marketing material and web presence. Last week I received a Cease and Desist letter from an IP (that’s Intellectual Property… I didn’t know that either.) attorney in Ohio. Yes, there’s an IT (That’s Information Technology…. I did know that.) in Columbus, Ohio with the business name Bold Vision, LLC. In 2003 they trademarked the name Bold Vision under the business consulting service category.

After some review it appears this company is not a general business consultant at all, but specializes in technology consulting helping companies organize, manage and process information more effectively and efficiently across their business; not at all what my business, Bold Vision Consulting, does. But, their attorney says that doesn’t matter. The Ohio company has the Federal Trademark, Bold Vision, and controls its use for anything to do with “business consulting”.

So, my choice is to:

A) Change the name of my business which means:
• Find another name that represents my work, my values, my views and …yes, the VISION of my business as well as Bold Vision.
• Redesign and re print every piece of marketing collateral I’ve created in the last year (and PAY for all this redesign and reprinting) Oh, this includes the website AND finding a new domain name - which means the new company name has to be an unregistered as a domain name also.
• How about every article I’ve ever written and published? Every article out there has Bold Vision noted in the by line. This BLOG is just one place where you can find my articles. I’ve also submitted articles for publication on various business sites and in newsletters here and there, so technically, I’ll have to remove the “Bold Vision” from these publications also… after I track them all down.
• And, get this – I’ll have to remove any reference to Bold Vision in any meta tag or search term from any website, newsletter or e-copy associated with my business.

Or

B) Respond to the attorney’s letter with an alternative view / plan / suggestion, which means:
Find a lawyer who is experienced in IP law, hire them to review the situation and write the response.
Wait for the Ohio attorney’s response to the response.
Decide whether to respond to the response to the response and…. well you get it. $$$$

I’ll keep you posted on this saga, but my point is: Your small business is still a BUSINESS. Run your small business like a business and make business decisions like a business person. It matters. I’ve learned a lesson.

However, on the good side – my marketing and Promotion Action Plan work is working! They found me in Ohio and I’ve got them concerned and a little scared. Not much consolation to the expense I’ll likely incur and the pain of dealing with this mess. However, it is a (very thin) silver lining in the dark cloud.

Until next time, I'm gonna Be BOLD. No matter what my business is called, I know it's all about RESULTS and it all starts with a vision.

On June 8 Bold Vision Consulting will begin offering the 12-week course “Promotion Action Plan - Attract More Clients With Less Effort by Becoming Recognized as an Expert in Your Field” exclusively for Professionals whose business is their expertise. Independent Service Professionals interested in more information please email info@boldvisionconsulting.com.

In June, Bold Vision Business Intensive program will be launched. The Business Intensive program is a series of 8 90-minute classes. Two programs will be launched; one that will meet in person (South Portland, ME) and one that meets via teleconference. For more information send an email to info@boldvisionconsulting.com.

What's your time worth? If you regulary spend time attending networking meetings and/or events, you're making a BIG investment. It may not be a large dollar investment, but think about the time you invest. Time, as they say, is money and there's no better way to waste that resource than following these 4 networking tips:

1) Forget It's Business 2) Don't Have an Objective 3) Wing-It 4) Go for the Numbers

FORGET IT'S BUSINESS
A networking event is not a party and getting there is only part of the battle. If you plant yourself in a chair or attach yourself to someone you already know well and you're talking about the weather and the Sea Dogs because it is comfortable; that's not networking.

It’s not about the food and it’s not about the cocktails so if your idea of a good Chamber After Hours is a free dinner and to knock back a few beers, you are probably not seeing a lot of networking success. You're here to make new contacts and develop other important contacts. It’s not about making an appearance and it’s not to party. BE FOCUSED.

DON'T HAVE AN OBJECTIVE
Why are you going to these events? (If it’s for a free dinner and drinks, we’ve already addressed that in #1 above.) Who will be attending this event? What client or potential client would you like to meet or get to know better? Make it a point to think through the result you would like to walk away with. If it’s a new prospect you would like to meet, do your homework. Learn about their business before hand. Spend some time thinking of people you know with whom this potential prospect or client may be able to do business with or who they might be interested in knowing. BE PREPARED.

WING-IT
First impressions matter. You'll need it to introduce yourself and answer the question “What do you do?” at networking events. If you’re a member of BNI (Business Network International) you have to introduce yourself and answer the question “What do you do?” every week. And surprisingly even BNIers, who have to give their “60-sec” (elevator pitch, audio logo, etc.) to the same people every week, don’t give a crisp, clear description of what they do and for whom they do it. Many people you meet at other networking events will be unfamiliar with you and what you do so it’s important to practice your “audio logo” so when someone asks “What do you do?”, you’ll be able to tell them: 1) Who your target audience is; 2) The problem your target audience has (This is important.); and 3) The solution you provide to clients with this problem - how you fix the problem.

Not only will you be able to tell what you do, you’ll sound natural doing it. Be confident, but not stilted or pushy. Remember, a networking event isn't a formal interview any more than it’s a party. BE SUCCINCT. (And don't forget to smile!)

GO FOR THE NUMBERS
We talked about networking being more like farming than hunting in a previous issue of “Making It Happen”. For your networking efforts to pay off most effectively, you should focus on getting to know people and their business and on them getting to know you; not on how many contacts you can “check off” the list. It shouldn’t be a card gathering contest. Networking is about developing close relationships because people do business with people they like and they trust. It’s not what you know that counts; and many times it’s not even who you know. It’s how well you know them.

Focus on the quality of the connections you make rather than the quantity. Look at the person in the eye when you're speaking to them and when they are speaking to you. Don't be scanning the room looking for your next target. BE PATIENT.

And the $12,000, where did that come from? Let’s say, on average, your time is valued at $50/hour. (If your hourly rate is more or less please make the adjustment to your calculation.)

• You’re a member of an area BNI group, so you meet once a week for 90 minutes a meeting. You have approximately 30 minutes travel time to and from the meeting. 104 hours a year. $5,200 (not counting the annual membership dues)

• You meet with your networking partners throughout the year to get to know each other and your work better. You meet individually as well as in Referral Sphere groups and training venues. Let’s assume you have these types of meetings/ gatherings 36 times a year, which is 3 times a month – for 1 hour a time. $1,800

• You’re a member of the Chamber of Commerce and you attend a few Chamber After Hours events as well as a few Eggs ‘N Issues events throughout the year for a total of 26 hours a year. $1,300

• You’re also civic minded and are a member of the Kiwanis, the Rotary or another civic organization. While technically, your primary reason for joining this group isn’t to network, let's face it; you make some great contacts and do some great business through these contacts. Assuming weekly meetings of an hour and a half per meeting you’re looking at an investment of 78 hours a year. (This doesn’t take into consideration the various projects and additional time these organizations sponsor.) $3,900.

$5,200 + $1,800 + $1,300 + $3,900 = $12,200

Whatever time you invest in whatever activities you consider to be valuable networking opportunities, it is important you treat this investment as you would any other financial investment you make. Because when you get down to it, networking IS a financial investment.

BE FOCUSED * BE PREPARED * BE SUCCINCT * BE PATIENT.

And Remember, (how could you forget?) BE BOLD. All success starts with a Bold Vision.

On May 25 Bold Vision Consulting will begin offering the 12-week course “Promotion Action Plan - Attract More Clients With Less Effort by Becoming Recognized as an Expert in Your Field” exclusively for Professionals whose business is their expertise. Independent Service Professionals interested in more information please email info@boldvisionconsulting.com.

In June, Bold Vision Business Intensive program will be launched. The Business Intensive program is a series of 8 90-minute classes. Two programs will be launched; one that will meet in person (South Portland, ME) and one that meets via teleconference. For more information send an email to info@boldvisionconsulting.com.