March 2016

THE VALLEY BUSINESS JOURNAL
26 www.TheValleyBusinessJournal.com
March 2016
Is Your Business a Fixer Upper?
Continued from page 1
Perhaps your business is in need
of some fixing up to bring out its potential
value. Changes may be required
to a building, a website, the processes
that drive business, or even a product
set. But before starting the demolition
phase, it is necessary evaluate and develop
a plan.
Begin with:
• What do you want the business to
look like? For example, if you are
a computer service, what are your
specialties and why will you be
different from your competition?
How do you want to take advantage
of your strengths?
• What will it take to make the business
look like your vision? In a
house, walls are removed, floors
refurbished and windows replaced.
What will need to be eliminated or
changed in the company?
Step With back these periodically answers, budget and look accordingly.
at progress
Ensure
towards
you have
the
the
goals.
capital to
cover all expenses including lost revenue
in case a complete shutdown is
required. Fund raising is less stressful
before improvements begin and can
prevent stalled projects.
As you begin to implement your
fixer upper plan, carry out tasks in an
organized manner. Keep the project
plan handy and follow it. If changes
to the plan are required, go through a
process to evaluate how the change will
affect budget and planned milestones.
Watching a home being refurbished
may at times look out of control, but
you can bet that there is someone
closely monitoring each sub-project.
Step back periodically and look at
progress towards the goals.
Perhaps a more profitable product
set is desired. So, are production
costs being reduced or more value
added allowing a higher price for the
end product? If a process overhaul
is taking place, will it be easier to do
business with the company?
Finally, enjoy the change. The
show’s final scene is the home owner
reflecting on what they like best about
their fixer upper. Do the same and
include employees celebrating your
new and improved business.
Ted Saul is a Business Analyst that
assists with Business Plans and Project
Management. He holds a master certificate
in project management and has
earned his MBA from Regis University.
Ted can be reached on LinkedIn,
TedS787 on Twitter or emailing Ted@
tsaul.com.
by
by
Ted Saul,
Steve Fillingim
Sr. Staff Writer
connect: Ted@tsaul.com
The most dangerous
poison is the feeling of
achievement. The antidote
is to every evening think
what can be done better
tomorrow.”
Got Economic Development?
Continued from page 1
Here is what I’ve found:
U.S. Economic Development
Administration (EDA) fosters regional
economic development efforts
in communities across the nation.
Through strategic investments that
foster job creation and attract private
investment, EDA supports development
in economically distressed areas
of the United States. They are hosting
a National Conference on April 7-8,
2016 in Washington, D.C. https://www.
eda.gov/
California Association for Local
Economic Development (CALED) is
California’s premier economic development
association. With more than 800
members, it is one of the largest EDAs
in the country. It teaches economic
developers, local elected officials, and
state representatives the value of economic
development and how it is used
to grow businesses, generate revenue
to support community development
programs, and retain and create quality
jobs. CALED is hosting its 36th Annual
Conference in South San Francisco
April 26-28. http://www.caled.org/
Governor’s Office of Business
and Economic Development (GO-
Biz) is a one-stop shop for the state’s
job creation efforts. It is the lead agency
for developing economic strategy and
marketing of California’s businesses..
The office focuses on attraction,
retention and expansion of business
services by helping with site selection,
permit streamlining, regulatory hurdles,
small-business assistance, international
trade development and assistance with
state governments. https://business.
ca.gov/Programs.aspx
California Community EDA
(CCEDA) serves as a clearinghouse for
information and action that advances the
field of community economic development
through training and continuing education,
technical assistance, and advocacy
on public policy. http://cceda.com/
Riverside County EDA started in 1989
with 20 employees and has grown to
830, with an annual budget of $496
million. EDA strives to create communities
that are attractive, functional
and safe; support a broad spectrum of
business growth with access to a quality
workforce; and provide residents with
recreational and cultural activities.
http://www.rivcoeda.org/
Murrieta Innovation Center
(MIC) supports new and innovative
companies that are focused on Healthcare
Technologies and Medical Devices.
MIC hosts start-up and growing
companies, provides resources through
mentors and partners, and offers the
support all young businesses need to
grow. https://www.innovatemurrieta.
org/
Inland Empire Women’s Business
Center (IEWBC) was formed
to meet the unique needs of women
business owners in the Inland Empire
region. The IEWBC assists existing
and aspiring women business owners
to start and grow successful businesses.
The program also provides targeted
services to Latina business owners
by providing services in English and
Spanish. http://www.iewbc.org/
Temecula Valley Entrepreneur’s
Exchange (TVE2) is a business incubator
and regional resource center that
fosters business growth and economic
vitality for entrepreneurs. TVE²’s
objective is to assist and serve as a
regional hub for technology start-up
companies in Southwest Riverside
County, connecting people and ideas
with knowledge and resources. http://
tve2.org/
Economic Development Corporation
SW California is a private/public
partnership that promotes Southwest
California regional economic development
through business retention and
development, job opportunities, and
related economic growth. The EDC is
dedicated to expanding the competitive
position of the regional businesses in a
global economy. http://edcswca.com/
InSoCal CONNECT acts as a
catalyst linking startups and technology
companies with local government, universities,
professional service providers
and investors.. http://insocalconnect.
greenrope.com/
SCORE offers the nation’s largest
network of free, expert business mentors.
SCORE also conducts workshops
throughout Riverside County and
speakers for business events. https://
inlandempire.score.org/
~Ingvar Kamprad,
IKEA founder