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Small Business
Here's a bright idea: Focused marketing:
August 28, 2006
Lorraine BallEven companies as large as Coca-Cola know that effective marketing begins with a clear definition of their target customer.
Ask yourself this: When was the last time you had a Coke? Not the caffeinefree, diet, cherry, vanilla or whatever variety,
but Coke-real, regular Coke. For some, the answer is today; for others, it might be last week, a few months ago, or so long
ago they don't remember. I know I have not had a Coke since 1982, and more...
More25A-32A All in the family: Good relationships key to living and working together
August 28, 2006
Tammy Lieber25A-32A All in the family Good relationships key to living and working together The family that plays together stays together,
as the old adage goes. But what about the family that works together? Many-if not most-of the estimated 450,000 small businesses
in Indiana employ more than one family member, local smallbusiness experts say. In some cases, family involvement might be
limited to a spouse who helps out with the books part-time or a child who comes into the office occasionally...
MoreGet a handle on customers, competition:
August 28, 2006
Jerry CliffordTo succeed, small businesses must attract and retain a growing base of satisfied customers. This activity is called marketing.
There are two overriding principles: Company policies should be directed toward satisfying customer needs. And profitable
sales volume is more important than maximum sales volume. To best use these principles, smallbusiness owners should: Determine
the needs of their customers through market research. Analyze the company's competitive advantages to develop a market strategy.
Select specific markets to serve by targeted marketing. Determine...
MoreIEDC shelves proposal to copy Ohio initiative: Program matches promising startups with capital
August 28, 2006
Peter SchnitzlerAn Ohio program launched in 2003 to urge development of extremely earlystage companies has already spurred investments worth
$239 million in 68 Buckeye startups. Venture capitalists would like to duplicate the program here. But their proposal has
been languishing at the Indiana Economic Development Corp. for a month. "We have the application. We haven't done anything
with it," said IEDC Director of Small Business and Entrepreneurship Bruce Kidd. "This is a classic steeple chase. You've got
lots of hurdles to...
MoreWoman sets sights on freedom: Disability isn't keeping shop owner from goal
August 28, 2006
Candace BeatyTwo doors opened for Pam Evans on Aug. 5-one to her own clothing store and the other to her independence. The Cherry Shop
represents both to Evans, who lost most of her sight over the course of a weekend in 1998 to a genetic eye disease called
angioid streaks. Left with only her peripheral vision, she also lost her career in real estate and corporate sales. After
a period of depression, Evans decided she wouldn't lose it all. "I felt...
MoreWorkers can help lower health costs:
July 31, 2006
Philip T.Health care costs keep small-business owners up at night. According to Forbes magazine, the cost of health care is rising
at three times the rate of inflation. Because demand for medical treatment will continue to grow as Americans age, insurance
premiums will continue to increase. Some small-business owners' first reaction is to shift rising costs to employees. Others
simply eliminate health insurance benefits altogether. While this reduces expenses and raises profit in the short term, it
ruins a company's ability...
MoreVenture Center's Beck plans seed capital fund: Former Rose-Hulman Ventures prez returns to town
July 31, 2006
Peter SchnitzlerOver the last three years at the helm of Indiana Venture Center Inc., one thing became all too clear to Steve Beck: Not much
money is available locally for early-stage companies. So he's going to raise some himself. Last week, Beck, 59, announced
he's stepping down as Indiana Venture Center president to become co-managing director of IVC Equity Partners, a new local
seed capital fund. His IVC Equity cofounder is Scott Prince, 38, a Columbus native and Indiana University graduate...
MoreECONOMIC ANALYSIS: Impact from small biz smaller than we think?
July 31, 2006
Patrick BarkeyThe images are out there, reinforced almost every day. Big business is bad, led by overpaid executives who are out of touch
and hire lobbyists to get laws changed in their favor. Or, worse yet, they drive smaller companies out of business. Small
business, in contrast, is noble, led by energetic people following their dream, facing special challenges and deserving of
our support. Nobody, it seems, is rooting for Wal-Mart to get bigger, and no one ever made a movie...
MoreSMALL BUSINESS PROFILE: JP PARKER CO.: Business blooming for specialty florist Flower farm, retail shop feed green thumb's
growth
July 31, 2006
Jo EllenSMALL BUSINESS PROFILE JP PARKER CO. Business blooming for specialty florist Flower farm, retail shop feed green thumb's growth
More than 300,000 sunflowers are in various stages of growth on Needham, Ind., farmland, where a third generation carries
on the family tradition with a modern twist. These tall summer annuals follow a spring where 1,000 blooming peony plants yielded
at least 11,000 stems for a Chicago broker. Smaller plots of delphiniums, larkspur, zinnias, coneflowers, mints, herbs and
other greenery also...
MoreState awarenesss initiative targeting investment fraud: Program touts knowledge to prevent financial scams
July 24, 2006
Tracy DonhardtConservative estimates put the amount of money Hoosiers are bilked by investment fraud scammers at $100 million a year. The
high-end estimate for victims of pyramid scams, bogus gas and oil ventures and unscrupulous mortgage practices is closer to
$800 million. Those involved in catching and prosecuting the scammers say proactively educating people about investments in
general and scams in particular would go a long way toward helping the problem. "Our financial illiteracy is high," said Mark
Maddox, managing partner...
MoreVOICES FROM THE INDUSTRY: Consumers rarely raise banks above commodity status
July 24, 2006
Jeffrey A.Toothpaste. Laundry bleach. Cat food. Banking services. Despite the hopes of many bank executives, vast numbers of consumers
rarely elevate their banks beyond everyday commodity status. Through traditional advertising and marketing, many banks attempt
to differenti ate themselves as the bank of choice or the bank that makes a difference. Repeat the tag line often enough and
hopefully potential customers will start to believe it. One fact underscores this unfortunate commodity service status: According
to recent market research, the No....
MoreNew business incubator is made for minorities
July 17, 2006
Scott OlsonBlack business owner Bob Logan is one of four entrepreneurs chosen by the Indiana Business Diversity Council as inaugural
tenants of its unusual new incubator, which caters solely to minority-owned businesses.
MoreFINANCE: How will higher interest rates affect my loan?
June 26, 2006
Jean WojtowiczEvery time the Q: Fe d e ra l Reserve raises rates, I expect to pay my bank more for financing. I guess I understand the reason
for this-the government says it wants to guard against inflation-but the Fed's actions still make it hard for the small-business
owner who needs to borrow money. How can I get the lowest possible rates? And what will my bank require of me that they don't
now? Or is there any way around this...
MoreBuilder targets entire block: Centex in talks to buy land from Shapiro's Deli, others for downtown development
June 26, 2006
Jennifer WhitsonA national home builder is negotiating to purchase an entire downtown block for a retailand-residential development-a project
that could temporarily displace the landmark Shapiro's Deli. Dallas-based Centex Corp. says the block southeast of the planned
Lucas Oil Stadium is among several downtown-area locations it is reviewing for its first local foray into urban residential
development. Brian Shapiro, owner of Shapiro's Deli, 808 S. Meridian St., said he has not reached a final agreement to sell
his property. But he hinted...
MoreSMALL BUSINESS PROFILE: A-1 VACUUM CLEANERS AND JANITORIAL SUPPLIES: Vacuum dealer on his own Franchise dissolution gave owner
freedom and more responsibility
June 26, 2006
Jo EllenSMALL BUSINESS PROFILE A-1 VACUUM CLEANERS AND JANITORIAL SUPPLIES Vacuum dealer on his own Franchise dissolution gave owner
freedom and more responsibility For his entire adult life, Tony Stahl has been helping other people clean up their messes.
From the time he graduated from John Marshall High School, Stahl has had A-1 Vacuum Cleaners as part of his work life, first
as an employee and, most recently, as an owner. In fact, Stahl's work with vacuums and customers was so...
MoreScrapping it: Flurry of area shops close the books on once-hot business
June 26, 2006
Matthew KishForget-Me-Not in Greenwood will soon be forgotten. The store, which sold scrapbook albums and supplies, closed last month.
It was the latest of at least seven scrapbook stores to close in the past few months in central Indiana. Business analysts
are calling the rash of out-of-business signs a cautionary tale for proprietors who invest in "silo businesses" that base
their bottom line on a trend or product that may soon be out of style. "A lot of the mom-and-pop [scrapbook]...
MoreBIZ BASICS: Legal help doesn't have to cost a fortune
June 26, 2006
Daniel KehrerWe're a start-Q: up and constantly need answers to basic legal questions about business structures, the hiring process, contracts,
wages, safety, trademarks and more, but can't afford expensive lawyers. What are some options? Legal issues often present
a dilem-A:ma for cost-conscious small businesses, especially startups. You want the best information but paying legal professionals
for every little thing gets expensive. The range of legal issues facing entrepreneurs is immense, from naming a business and
obtaining licenses to complying with tax...
MoreDriving through adversity: First-time team owner uses business fundamentals to help reach the finish line
June 26, 2006
Matthew KishIt's been a bumpy ride for Michael Crawford this year. Scratch that-it's been like driving into a concrete wall at 190 miles
per hour. Repeatedly. The rookie race team owner put his financial livelihood on the line this year to buy two cars and run
them in the Indy Pro Series, the open-wheel racing equivalent of AAA baseball, one step below the major leagues. IBJ is following
Crawford's progress in hopes of shedding light on the challenges startups face when...
MoreEx-Chamber chief buys Daleville testing firm: Deal gives LaMothe one-third ownership, CEO post
June 19, 2006
Matthew KishNow, he's an owner himself. This month, he teamed with two prominent executives to buy Dalevillebased Sherry Laboratories,
a 180-employee company that does product testing for firms in such fields as aerospace and automotive. "I've been interested
in Sherry for about 10 years," LaMothe said. "I had approached them two or three different times ... . I was intrigued with
the company because I believed it was needed and necessary and adds value to society." LaMothe will serve as chairman...
MoreFINDING the RIGHT FIT: Program to put execs in board seats, but will firms be willing to pay for it?
June 19, 2006
Andrea MuirraguiRuth Purcell Jones knows the statistics well. Nearly 1.8 million board seats at not-forprofit organizations turn over every
year, presenting a challenge for charities already trying to fill the 1.2 million positions open at any given time. And anecdotal
evidence backs up the national research. "If there's one thing I hear over and over, it's, 'We can't find board members,'"
said Jones, president of Indianapolis-based governance consultant Trustee Leadership Development. "It's really a 'Who do you
know?' kind of thing....
MoreSite gets people involved: Institute uses Web to link volunteers with opportunities
June 19, 2006
Scott OlsonWhen Roger Williams began approaching local not-for-profits early this year about his idea to post their volunteer opportunities
for teen-agers on his Web site, many were skeptical. "What's this guy trying to sell me?" they wondered. But six months after
launching www.helpindyonline.com, part of his larger Emergent Leadership Institute, Williams has more than 80 charities promoting
nearly 300 positions on his site for high school and college students interested in volunteering. The 36-year-old Carmel native
and former youth pastor founded...
MoreKroger shops for land: Grocer gathering property for full-size downtown store
June 12, 2006
Matthew KishDowntown residents might finally get their second full-service grocery store. Cincinnati-based Kroger Co. has purchased an
acre of land immediately west of its store near the intersection of 16th Street and Central Avenue in hopes of razing the
existing store and replacing it with a new, and much larger, grocery. "We would like to build a brand new store that incorporates
all of the amenities that [we] have at our newer stores," said Jeff Golc, a Kroger spokesman. Neighbors are...
MorePlug in professionals when tasks seem overwhelming:
May 29, 2006
Sharon O\'donoghueRunning a small business is daunting, to say the least. Small-business owners wear many hats and are expected to be a master
of everything: from hiring workers to coordinating group health coverage, from developing marketing materials to hitting sales
goals, from assessing technology needs to making tax and insurance payments, from issuing invoices to paying vendors-all while
keeping an eye on cash flow. Whew. Larger businesses may rely on individuals or entire departments responsible for each task.
For small-business owners,...
MoreEntrepreneurs keep day jobs: Moonlighting helps owners mitigate startup risks
May 29, 2006
Tracy DonhardtInventions at various stages of development are scattered around Qamar Shafeek's ranch-style home on Indianapolis' east side.
An unnamed doohickey attached to a curtain rod pulls drapes open and shut along with the sliding glass door. A voice box gadget
tells the single father when the garage or side doors open, alerting him to his children's comings and goings. And a plastic
pinwheel with tennis balls attached to the ends is making its way from a napkin-sketch idea to a...
MoreGood banking relationship can help business:
May 29, 2006
Ken CarowCapital is the lifeblood of any business. But fresh infusions of money are particularly important for startup and small businesses,
since they often can't fund new equipment, employees or facilities out of their cash reserves or profits. The top three sources
of new capital for small business are owner's equity (33 percent) bank loans (20 percent) and trade credit (15 percent). Let's
focus on bank loans and simple ways that small-business owners can improve their chances of getting a loan...
More
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these guys only skill was to steal from other's hard earned savings.
I voted for him last time and it WAS the LAST time. He needed to to quit running around the world on useless trips, and giving our $$ away to sports teams. I'll vote for anyone but Ballard next time. BTW...we gave $40M to the Pacers and cannot even watch the games on TV.
For the people concerned about traffic, you should know that mixed-use projects (like the one being proposed), actually allows for and encourages more people to walk and bike, thereby mitigating additional automobile traffic. If we continue to design and build suburban-type projects in the City (i.e. automobile-oriented projects), we are not offering anything different from what the suburbs offer, which means we will continue to lose jobs/people to the suburbs. The reason Broad Ripple is somewhat successful today is that people want to live in a place that offers the convenience of being able to walk/bike to restaurants, retail, nightlife, the Monon, etc. Why would you not want to support a project that is complimentary to what already makes the area desirable? The real argument with this project should be its lack-luster design and layout, not the density.
It is unfortunate that there is a perception that celebrities validate an event. The Indy 500 stands on its own, especially for those coming in from out of town. It was always so disturbing to read the gushing descriptions of Ashley Judd threaded throughout the local coverage. Very happy that era is at an end.
Good ole' Obamacare. Thanks liberals and those who didn't bother to vote.