Executive Edge: Konrad Krauland
Textile manufacturer finds PowerPro fishing line is his biggest catch. By Bob Kretschman ColoradoBiz

Setting the right price for your product
New retailers will discover that there is no universally accepted "right price" for a specific product. Establishing a retail price requires striking a balance between a price that is too high to be competitive or affordable, and a price that is too low to be profitable. MSNBC/Entrepreneur.com

Failure to delegate can sink growth plans
One of the biggest obstacles many entrepreneurs face is their own unwillingness to delegate, says Romanus Wolter, the author of "Kick Start Your Success" and "Kick Start Your Dream Business." Wolter offers several tips on how to take advantage of other people's skills including trusting colleagues in areas where the entrepreneur is weaker, experiment by assigning tasks to others and building a team by sharing the vision for the company. Entrepreneur

A Practical Guide to Branding
Define your brand identity—your product's "personality"—before you spend a dime on advertising or marketing. BusinessWeek

Innovative shippers use strategies to weather downturn
Good shippers are responding to the tough economy and soaring gas prices by changing the way they go to market. The truly innovative firms are using a combination of strategies and partnerships to weather the storm. Logistics Management

Showing how social networks work for your business
There are simple ways to use social networks such as LinkedIn, Facebook, and MySpace to your business's advantage. Using these networks by posting news and information, finding talent or even doing research on potential employees increases attention to your business and reaches new audiences. BusinessWeek/Today's Tip

Campus Life….

Client Company Lunch
Speaker: Steve Thompson - What to expect when you leave the Incubator: Construction Management and Site Development
Where & When: Tuesday, May 20 at noon in the training room
Food: Lee Mathis & Shelli Mayo – a special sneak-preview of his menu for the “Feast in the Fields” Event
Lunch Menu:
Spring Salad w/ a Balsamic Dressing
Bloody Mary Shrimp Empanadas with Peach Salsa
Curried Chicken w/ Peaches
Cheesecake Bytes

No TAB this month

Upcoming Workshops at the Incubator….

Taxes and the Small Business Owner
Simple answers to business tax issues. To start, Pamela J. Belcher CPA will discuss such topics as: keeping track of and paying all your business taxes, computing and filing payroll taxes, satisfying state and federal guidelines, depreciating items like a home office, or automobile, and working with independent contractors versus employees. In the afternoon, Colorado Department of Revenue representative Bruce Kolisek, as well as representatives from the Department of Labor Employment, will discuss state withholding taxes, sales tax issue and unemployment and use tax. Cost: $45.
When: Thursday, June 19 from 9:00 AM - 5:00 PM

Business Incubator Center NEWS

Prices for sale of small businesses drop
Prices seem to be softening for business owners who have put their companies up for sale this year. Analysts say tighter credit standards, increased costs and a loss of customers are to blame. The New York Times

Rock stars can be role models for business leaders
Rock stars have more in common with business leaders than some may think, and they can serve as valuable models. They show that optimal performance requires exceptional dedication to practice and a tremendous thirst for learning. BusinessWeek

Grape Expectations
Piero Incisa della Rocchetta is the export manager for the Tuscan wine brand, Tenuta San Guido, known for its Super-Tuscan (Sassicaia) wines that go for hundreds or thousands of dollars a bottle. In our interview, he discusses how he goes about branding Tenuta San Guido on a worldwide scale and how that compares to his small, family vineyard. Brand Channel

Peer mentors offer productive partnerships
Peer mentors can be highly useful for entrepreneurs as sources of motivation and as trusted colleagues in whom to confide. Three relationships described in this article show how peer partnerships can come in many forms and offer extensive benefits. Entrepreneur.com

Upcoming Workshops at the Incubator….

USDA Rural Development Renewable Energy & Energy Efficiency Grant Program
Pattie Snidow, the Northwest Area Director for USDA Rural Development will be leading this seminar for private sector small businesses in rural towns of population of 50,000 or less, or agriculture producers. This grant program covers energy efficiency upgrades to commercial building or installation of market proven products for Renewable Energy for up to 25% of the total project cost.
Maximum Grant - Energy Efficiency $250,000 / Renewable Energy $500,000
In addition, loan guarantees with your local bank could be available to support most of the project.
When: Thursday, June 5 from 1:00 - 5:00 PM

Understanding Bookkeeping & Financial Statements
Instructor Helen Roe works with the Loan Fund of Mesa County and was recognized as the 2005-06 Outstanding Woman Accountant by the American Society of Women Accountants. Both classes include a question and answer period. Take advantage of this opportunity to have Helen address your specific questions! Cost is $45.00 per class or $55.00 when you register for both bookkeeping classes.
Session I
This class is designed for new business start-ups and focuses on how to set up business accounting records, how to track income and expenses and what types of expenses are deductible.
When: Wednesday, June 11 from 1:00-4:00 PM
Session II
This class, designed for new and existing businesses, will help you gain better control of your business by learning how balance sheets, income statements and cash flow projections are prepared and what they can tell you about your business.
When: Thursday, June 12, from 1:00-4:00 PM

Taxes and the Small Business Owner
Simple answers to business tax issues. To start, Pamela J. Belcher CPA will discuss such topics as: keeping track of and paying all your business taxes, computing and filing payroll taxes, satisfying state and federal guidelines, depreciating items like a home office, or automobile, and working with independent contractors versus employees. In the afternoon, Colorado Department of Revenue representative Bruce Kolisek, as well as representatives from the Department of Labor Employment, will discuss state withholding taxes, sales tax issue and unemployment and use tax. Cost: $45.
When: Thursday, June 19 from 9:00 AM - 5:00 PM

How to Start Food-Related a Business
Come learn all the basics of starting a food related business. You will learn about health regulations, packaging requirements, licensing requirements, business planning and how to fund it all. Cost: $45.
When: Thursday, June 26 from 9:00 - 11:30 AM

Excerpt from the Incubator Handbook….

Program Requirements:
Client Companies agree to participate in the Incubator Program, which includes a commitment to:

• Complete a Business Plan within the first 2 years of occupancy. Assistance in completing the Business Plan is available through the aforementioned Management Assistance program.
• Meet, at a minimum, semi-annually with BIC staff and provide them with up-to-date financial statements for the purpose of evaluating ICC’s financial performance and reporting aggregate numbers.
• Attend, at minimum, one business related class or workshop per year.
• Attend, at a minimum, seven networking events per year such as the monthly Client Lunch.

Business Incubator Center NEWS

May 11, 2008

Grand Junction MSA Strong In Economic Prosperity
The 2008 Aelera Regional Economic Prosperity Index (REPI) ranked the Grand Junction Metropolitan Statistical Area (MSA) 34th in the country for economic prosperity. The Grand Junction MSA's strong performance in employment growth, output growth, wage growth and unemployment rates, contributed to its high ranking on the Index.

The Grand Junction area economy performed significantly below average in indicators designed to measure the areas future competitive position. One such indicator, 'Young Knowledge Workers,' measures the percentage of population aged 25 -35 with a bachelor's degree or higher. Another measure, the 'Knowledge Economy' indicator, examines the percentage of workforce employed in "knowledge-intensive occupations".

According to Ann Driggers of GJEP, 'this report gives us plenty of good news, but at the same time demonstrates that we have much yet to accomplish to create a truly strong, diverse and sustainable economy. In order to do this we need to focus our attentions on growing the industries and job opportunities of the future, specifically those in a knowledge-based economy".

To view the full report follow this link: 2008 Aelera Regional Economic Prosperity Index

Moms set to juggle time, roles when they run a business
Mothers who quit their work and start businesses usually do it out of consideration for their families, not for personal reasons, says USA TODAY columnist Steve Strauss. A few mothers who have taken the leap into entrepreneurship shared their stories with Strauss. USA TODAY

Grand Junction: 9th Fastest Growing Population in the U.S.

Grand Junction: A Top Winter 2008 Jet-Setting Destination

Campus Life….

People Choice Award WINNER
Please join us in congratulating Katie Brierly of Guera's Chili on her First Place award at the Arbor Day Chili Cook-Off at the Lincoln Park Barn. If you have not already tried Katie’s Chili, you are missing out. We love it!

No TAB this month

Client Company Lunch
Topic: Video for your website: How to use it, Where to use it, and Why to use it.
Speaker: Joel Leon
Where & When: Tuesday, May 20 at noon in the training room

Upcoming Workshops at the Incubator….

How to Start Construction-Related a Business
Want to know what the Planning Department requires for a contractor’s license? Bob Lee Director of the City/County Building Department can tell you how to get your license and become a building contractor. Julie Morey will address licensing requirements, the business planning process and how to apply for a business loan. Cost: $45.
When: Thursday, May 22 from 9:00 - 11:30 AM

USDA Rural Development Renewable Energy & Energy Efficiency Grant Program
Pattie Snidow, the Northwest Area Director for USDA Rural Development will be leading this seminar for private sector small businesses in rural towns of population of 50,000 or less, or agriculture producers. This grant program covers energy efficiency upgrades to commercial building or installation of market proven products for Renewable Energy for up to 25% of the total project cost.
Maximum Grant - Energy Efficiency $250,000 / Renewable Energy $500,000
In addition, loan guarantees with your local bank could be available to support most of the project.
When: Thursday, June 5 from 1:00 - 5:00 PM

Understanding Bookkeeping & Financial Statements
Instructor Helen Roe works with the Loan Fund of Mesa County and was recognized as the 2005-06 Outstanding Woman Accountant by the American Society of Women Accountants. Both classes include a question and answer period. Take advantage of this opportunity to have Helen address your specific questions! Cost is $45.00 per class or $55.00 when you register for both bookkeeping classes.
Session I
This class is designed for new business start-ups and focuses on how to set up business accounting records, how to track income and expenses and what types of expenses are deductible.
When: Wednesday, June 11 from 1:00-4:00 PM
Session II
This class, designed for new and existing businesses, will help you gain better control of your business by learning how balance sheets, income statements and cash flow projections are prepared and what they can tell you about your business.
When: Thursday, June 12, from 1:00-4:00 PM

Taxes and the Small Business Owner
Simple answers to business tax issues. To start, Pamela J. Belcher CPA will discuss such topics as: keeping track of and paying all your business taxes, computing and filing payroll taxes, satisfying state and federal guidelines, depreciating items like a home office, or automobile, and working with independent contractors versus employees. In the afternoon, Colorado Department of Revenue representative Bruce Kolisek, as well as representatives from the Department of Labor Employment, will discuss state withholding taxes, sales tax issue and unemployment and use tax. Cost: $45.
When: Thursday, June 19 from 9:00 AM - 5:00 PM

How to Start Food-Related a Business
Come learn all the basics of starting a food related business. You will learn about health regulations, packaging requirements, licensing requirements, business planning and how to fund it all. Cost: $45.
When: Thursday, June 26 from 9:00 - 11:30 AM

Business Incubator Center NEWS April 21, 2008

Campus life….

It’s Spring Cleaning Week!
As part of our annual “dump week”, we have extra trash bins and recycling options for everyone. E-mail Helen Roe (hroe@gjincubator.org) if you have paper shredding needs!

Business news….

Tips for generating word-of-mouth sales
The owner of a successful candle company offers a list of six tips for generating word-of-mouth buzz about your company. The tips include cultivating key talkers; sending out samples of your product; and simply creating a fantastic product that is buzz-worthy MarketingProfs/Daily Fix blog

Eight tips can help in getting past "hello"
A list of eight tips for overcoming social anxiety and feeling comfortable in making the first move in a sales situation include making the conversation all about the other person's thoughts and listening intently to their responses. Another tip is to rehearse icebreakers with a friend before going to a meeting or gathering. Forbes

Tips: How to get customers to refer their friends to you
Small-business owners say referrals are the way they generate most new business but they don't seem to have systematic approach to receiving referrals, says John Jantsch at ducttapemarketing.com. Small-business consultant Denise O'Berry offers tips on how to get customers to refer your business to people they know. The New York Times

New food businesses get B2B help in rented kitchens
Commercial kitchen rental companies have put a for-profit spin on incubators of new food businesses. Entrepreneurs like the owners of Kitchen For Hire in Brooklyn are helping other aspiring business owners -- many who are newly unemployed -- start up by getting them out of their small home kitchens and into larger facilities. The News & Observer (Raleigh, N.C.)

Advice: How to get a natural food product on the shelf
A small business that has developed a natural food line needs to start locally in trying to get the line on grocery store shelves, advises Fortune Small Business. Start with a shopping trip to a local independent store to make sure the product is different from what the store has and study prices of other products in the store, says Bob Burke of Natural Products Consulting. CNNmoney.com/Fortune Small Business

Please let me know if you have any questions.
Talk to you soon,
Chris

Chris Reddin
Executive Director
Business Incubator Center
2591 B 3/4 RoadGrand Junction, CO 81503
creddin@gjincubator.org
ph: 970.243.5242
www.gjincubator.org

Celebrating 20 years as the Grand Valley’s Center for Entrepreneurship - Explore, Enrich, and Expand.

News - April 8

Business Incubator Center NEWS April 8, 2008

Small U.S. Firms Make Big Global Sales
A rising wave of U.S. small businesses and start-ups are going cross-border and selling hundreds of billions of dollars in goods and services to Asia, Canada, Latin America, Europe and Africa.. "Exports are the underrecognized opportunity for many American small businesses," says SBA Administrator Steve Preston. USA TODAY

Small Firms Find Credit Is Tightening
Lenders’ credit woes are starting to take a toll on small businesses. Though it may be too early to determine how hard small businesses will be hit, some national surveys show that the businesses are encountering more restrictions at lending institutions, making it harder to get the credit necessary to expand or, in some cases, stay afloat.. The New York Times

Key Words Assure Message Will Be Understood
Discovering the key words and phrases your customers use is important to getting a message across in a press release. To figure out what these words are, use online keyword research tools, look at the words your competition is using, avoid jargon and test them out by entering them into a search engine. MSNBC/Entrepreneur

60-Second Guide to Collecting Payments
Collecting late payments is a downside of being an entrepreneur, but establishing operating procedures can make the task easier to do. Experts advise setting policies to prevent late payments and consistently enforcing a late policy. Entrepreneur

Campus Life….

TAB
The Alternative Board (TAB) hosts monthly and are facilitated by Bill Vrettos. While BIC offers this program at no cost to Client Companies, normal TAB participation costs $500 per month. Please take advantage!
Topic: "Time Wasters"
Where & When: Wednesday, April 9 at 1:30pm in the small conference room.

Client Company Lunch
Topic: So you have a website up and running, now what? How to generate value from this marketing tool.
Speaker: Andrew BE, Elegant Technologies - http://www.elegantwebsitedesign.com/
Where & When: Tuesday, April 15 at noon in the training room

Spring Cleaning Week
As the weather warms, it is time to think about spring cleaning again. As part of our annual “dump week”, we will have extra trash bins and recycling options for everyone. We will also have a work crew from the Sherriff’s Department here on April 12th to clean the grounds. New this year will be a paper shredding option!
When: The week of April 21st

Upcoming Workshops at the Incubator….

Learn How To Protect Your Invention / Idea / Logo
Are you an inventor, artist or writer? Do you have a new company name or logo? Have you designed a new technology? Come learn from the pros how to protect your intellectual property through trademarks, patents and copyrights. Presented by David F. Dockery, Attorney At Law, Marsh Fischmann & Breyfogle, LLP who specializes on the formulation and execution of technology and identity protection strategies. Cost, includes lunch: $55.
When: Friday, April 18, 9 AM to 5 PM

Upcoming Events….

Entrepreneurship Day at Mesa State
An entire day of great presentations on a variety of topics including:
· Panel discussions by local entrepreneurs
· Breakout sessions on entrepreneurship
· A banquet honoring Entrepreneur of the Year
When: Thursday, April 10, 9 AM to 9 PM
Where: W.W. Campbell College Center at Mesa State
Banquet Tickets: $27.50 per person

The Women’s Foundation of Colorado – A Luncheon Honoring Women
This Annual event honors local women for their leadership and contribution to the community. This year’s honorees are Judy Burford (former Chair of the Mesa County Republican Party), Kellie Caldwell (Supper Solutions) and Christy Whitney (CEO, Hospice and Palliative Care of Western Colorado).
When: Thursday, April 10, 11:30 AM
Where: Two Rivers Convention Center
Tickets: $45