Business Central Magazine
Table of Contents September/October 2012

CONTENTS      
President's Letter:   The Business Side of Things 6
Editor's Note:   Fish Tales 8
Business Calendar:     16
Network Central:     20
Top Hats:     22
Cover Story:   OPTION MANAGEMENT 36
       
UPFRONT      
News Reel:   What's happening and who's moving.   Business news from around Central Minnesota. 10
Book Review:   Be the Elephant:  Build a Bigger, Better Business by Steve Kaplan 10
Your Voice in Government:    Hire A Veteran  Members of the armed services offer ideal employee traits, including a focus on responsibility and professionalism. 12
People to Know:     14
The Trouble with Business:  
Noncompete Agreements  Noncompetition agreements can be an excellent tool, but they're not the right fit for everyone.
18
BUSINESS TOOLS      
Management Tool Kit:   Recipe for Success  In the sales world, nothing is more important than prospecting. 24
Tech News
 
24
Going Green     26
TechStrategies:   An App for That  Today's computer apps allow businesses to engage customers and generate revenue. 31
Economy Central presented by Falcon Bank:     32
       
SPECIAL SECTIONS      
Welcome Back Students
    28
Central Minnesota
  Growth Guide
49
Smart Business
    51
Smart Business     53
       
THIS ISSUE      
Feature:   Risky Business  In today's economy any business can be a risky one.  Knowing your industry and finding creative solutions to control costs can mean the difference between success and failure. 44
Special Focus:   Growing Pains  Consider the potential benefits and challenges before making the decision to open a second location.. 48
Business Spotlight:   Russ Portele, Coldwell Banker Burnet
54
       
       
Online Only:   Innovation Motivation
 
    A Reading List for Innovators
     
    Content Marketing
     
    Forgotten Expenses
 
 


News & Events


View All Events ...

Online Only

  • There are several steps you can take to minimize the risks involved in recruitment.  You can find three of them here.
  • Before dumping your business landline, remember that saving a few dollars is often costly.  Here are some things to consider before you cut the cord.
  • There are seven major sections to a business plan, according to Entrepreneur online, and each one is a complex document.  If you’re ready to dig in, you can learn the details and find additional resources here.
  • Thinking about starting a business blog?  Here are ten things to keep in mind so your blog works for you, rather than against you.
  • LinkedIn’s new business model may help sales professionals and recruiters be more successful.
    View a demo or sign up for a free trial of Sales Navigator here:
     http://business.linkedin.com/sales-solutions/prospecting-tool.html/
    View a chart of costs and features here (You need to be signed in to LinkedIn):
  • What makes St. Cloud, Minnesota, the land of opportunity?  We are near average on residential racial segregation. We invest in social capital, which means we believe our community benefits from social contact and networking to promote productivity. We have low high school dropout rates and low numbers of single parent households compared to the national average. Children growing up in the St. Cloud area have a 12.7 percent chance of moving from the bottom quintile to the top quintile, which is one of the best percentages in the nation.
     
    You can find income data here.

    For an article on income mobility by Dr. Raj Chetty, economics professor, Harvard University, follow this link.
  • Get Past the Label

    If you haven’t considered employing persons with physical, mental, or developmental challenges, it’s time to reconsider. Hiring workers with disabilities may be easier––and far more satisfying––than you ever imagined.  Following are sources and information that can help you get started.
     
    “Frequently Asked Questions,” U.S. Department of Labor
    “Fact Sheet,” Minnesota State Council on Disability
    “Tax Benefits for Businesses Who Have Employees with Disabilities,” Internal Revenue Service

    Catholic Charities, Independence Center, Inc., Independent Lifestyles, Inc.,
    Opportunity Matters, Inc., Opportunity Services, Rise, Inc. - Central Minnesota Works, True Friends, WACOSA

  • Moving people and commerce where they want and need to go is critical to Minnesota’s prosperity.  Despite enthusiasm surrounding trains and other transportation alternatives, the reality is Minnesota’s businesses and workers use roads and bridges to make the economy run.
     
    You can find the complete report on transportation, prepared by the Center of the American Experiment, here.

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