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THURSDAY, FEB. 8, 2018 | IN THIS ISSUE
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Urbana-based Clickstop has launched Leverage, a new consulting firm focused on helping companies grow business via marketing, IT and culture.
"The skill sets that Leverage employees have are invaluable," Phil Akin, president of Leverage, stated in a release announcing the new venture. "We've been honing our trades within Clickstop and our industry for years. We're thrilled to now be able to share this experience with area companies to empower their growth and help create a stronger business community."
Mr. Akin said that Leverage aims to help clients solve problems hindering growth potential and find innovative ways to generate new opportunities. Leverage's customer engagement arm employs PPC, SEO and creative digital marketing, as well as trade show preparation, collateral materials and content creation and delivery.
The talent enrichment team has powered local multi-brand merchant and manufacturer Clickstop to awards such as Top Workplaces, Coolest Place to Work and Fastest Growing Company consistently through the past decade. Deliverables from this team include onboarding techniques, training methodology and onsite conferences.
Leverage was recently one of the first-to-market in launching a NetSuite SCA Kilimanjaro site, company officials said, and has proven track record with NetSuite, e-commerce, big data, innovation consulting and enterprise mobile development. The Leverage team has worked with a number of brands, including US Cargo Control, Pepper Joe's, EcoFoil and Clickstop.
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 SBA approves $8.4 million in loans in January
The U.S. Small Business Administration backed 28 loans worth about $8.4 million for the month of January to Iowa businesses, including two in the Corridor.
Corridor businesses securing CBA-backed loans in January included:
- Optical Mechanics, Inc., of Iowa City, which received $280,500.
- CR Goose, Inc., of Cedar Rapids, which received $250,000.
Loans to those companies totaled $530,500, just over half of last month's total of $996,500 and well below October and November 2017 totals of $5.6 million and just over $4 million respectively.
Corridor companies receiving these loans reported creating 12 jobs and retaining 30 others as a result.
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Nominations sought for 'small business champions'
The deadline for the Iowa Small Business Champion Awards has been extended to Feb. 20, the SBA's Iowa District Office announced.
These awards, presented in conjunction with the SBA's annual Small Business Week Awards, recognize Iowans for their efforts in championing three important small-business demographic sectors in Iowa: women, minority and veteran-owned businesses.
Awards include:
- Iowa Women in Business Champion of the Year - presented to an individual(s) who has demonstrated a commitment to the advancement of women's small business ownership. Nominees may or may not be small business owners.
- Iowa Minority Small Business Champion of the Year - presented to an individual(s) who has demonstrated a commitment to the advancement of minority small business ownership.
Nominees may or may not be small business owners.
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Iowa Veteran Business Champion of the Year - presented to an individual(s) who has demonstrated a commitment to the advancement of veteran business owners. Nominees may or may not be small business owners.
Winners will be recognized during a Small Business Week 2018 reception in May. For complete nomination and submission instructions for the Iowa awards, email Dave Lentell at the SBA's Iowa District Office at
[email protected] or call (515) 284-4522.
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Valentine's Day may leave Iowa restaurateurs brokenhearted
It may be the most romantic day of the year, but Valentine's Day is nothing to gush over for most Iowa restaurant owners.
A new report from small business analysts Womply indicates Feb. 14 is only the 109th-best sales day of the year, with a mere 12 percent increase in transaction volume and a 10 percent lift in revenue compared to an average day.
Womply's "state of restaurants" report analyzed transactions at small, independent restaurants in all 50 states, including Iowa, during every day of the 2017 calendar year.
The report's other key findings for Iowa include:
- Mother's Day is the best sales holiday of the year for Iowa restaurants, with a 9 percent increase in transaction volume and 40 percent increase in total sales.
- On average, Iowa's local restaurants make $30,000 per month in sales revenue, ranking the state No. 42 among the 50 states and Washington D.C.
- Iowa restaurants earn 53 percent of their revenue between Friday and Sunday.
- The average restaurant sees 38 transactions per day at an average ticket of $25.81.
Even if Valentine's Day isn't a red letter day in terms of overall sales, the Iowa Restaurant Association says it is still the second-most popular holiday for dining out, just behind Mother's Day.
"The top three deciding factors for couples choosing to eat out are the familiarity of a favorite eatery, a romantic setting and special menu offerings," Jessica Dunker, president and CEO of the Iowa Restaurant Association, said in a release, adding that "about one-third of those celebrating the holiday will be visiting a restaurant."
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Consulting: Connecting the dots from formation to raising capital
In this week's consulting spotlight, Bill Daly of Shuttleworth & Ingersoll PLC outlines the questions entrepreneurs should ask themselves when forming an entity:
Entrepreneurs typically start businesses because they believe the product or service they are offering is either unique in the marketplace or they can provide it better than existing providers. In this process, entrepreneurs often recognize the need to establish a formal business entity, but don't always appreciate that their initial choice in selecting and forming an entity can have a wide-ranging effect on how the company operates and grows.
Here are a few variables for entrepreneurs to consider as they set up their new venture:
Multiple owners and decision-making
If a company is founded by multiple individuals, they should have honest and direct conversations with each other about how decisions will be made, and who is needed to make both operational and larger, fundamental decisions.
Decisions can vary in significance from deciding who to hire and what to offer that person in compensation to whether the company wants to take investment from an outside investor or wants to sell all of its assets in an acquisition. These scenarios are on opposite ends of the spectrum in terms of magnitude, but co-founders should have discussions regarding these possibilities. More "operational" and simple decisions may only need a simple majority while larger, fundamental decisions may need a larger vote.
Similarly, co-founders should have discussions on the buy-sell provisions or transfer restrictions they want to impose on themselves or other owners of the business. These provisions can vary in how restrictive they are; having the conversations with an experienced attorney to help guide you through the choices is important.
Read the full column at corridorbusiness.com.
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From around the web:
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Corridor Stocks
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NAME
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SYM
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PRICE
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CHG
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%CHG
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| AEGON |
AEG |
6.49 |
-0.19 |
-2.84%
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Alliant Energy
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LNT |
37.13 |
-0.37 |
-0.99% |
| Deere & Company |
DE |
153.66 |
-7.77 |
-4.81% |
| Dow Jones |
^DJI |
23,860.46 |
-1,032.89 |
-4.15% |
| General Mills |
GIS |
53.99 |
-0.66 |
-1.21% |
| GoDaddy Inc. |
GDDY |
51.36 |
-2.41 |
-4.48% |
| Great Western Bank |
GWB |
39.75 |
-1.63 |
-3.94% |
| Heartland Express |
HTLD |
20.75 |
-0.75 |
-3.49% |
| KemPharm |
KMPH |
5.7 |
0.00 |
0.00% |
| Marsh & McLennan |
MMC |
79.31 |
-2.85 |
-3.47% |
| MidWestOne |
MOFG |
31.74 |
-0.78 |
-2.40% |
| Pearson |
PSO |
9.35 |
-0.10 |
-1.11% |
| Pepsico |
PEP |
110.15 |
-3.35 |
-2.95% |
| Principal Financial |
PFG |
60.38 |
-3.54 |
-5.54% |
| QCR Holdings |
QCRH |
43.60 |
-0.55 |
-1.25% |
| Rockwell Collins |
COL |
133.31 |
-2.09 |
-1.54% |
| S&P 500 |
^GSPC |
2,581.00 |
-100.66 |
-3.75% |
| Tanger Factory |
SKT |
22.74 |
-0.80 |
-3.40% |
| Procter & Gamble |
PG |
80.22 |
-1.62 |
-1.98% |
| United Fire Group |
UFCS |
40.72 |
-0.70 |
-1.69% |
| U.S. Bank |
USB |
52.65 |
-2.15 |
-3.92% |
| Wells Fargo |
WFC |
55.40 |
-2.14 |
-3.72% |
| West Bank |
WTBA |
23.95 |
-0.25 |
-1.03% |
| Whirlpool |
WHR |
164.95 |
-6.57 |
-3.83% |
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Short-Term Event Planner
Feb. 8
Tax Reform Legislation for Global Businesses, by Cedar Rapids Metro Economic Alliance, 2-4 p.m., Economic Alliance, 501 First St. SE, Cedar Rapids. Jim Loizeaux, managing director of global tax services for CliftonLarsonAllen, will share information and answer questions about the 2017 tax reform legislation's impact on global businesses. Free. Register by Feb. 6 at
bit.ly/2FQ79NF.
Feb. 10
Iowa City Toastmasters Open House, by IC Toastmasters, 10-11 a.m., Iowa City Public Library, 123 S. Linn St., Iowa City. Come learn what Toastmasters is all about at this area open house. Free.
Feb. 13
Coaching Up Seminar, by Eastern Iowa Human Resource Association, 7:30-9 a.m., The Hotel at Kirkwood, 7725 Kirkwood Blvd. SW, Cedar Rapids. This membership meeting with feature Kim Wilkerson of Wilkerson Consulting. Cost: Free for members, $15 for non-members. For more information or to register, visit
eihra.shrm.org.
Hiawatha Business Summit, by Cedar Rapids Metro Economic Alliance and the Hiawatha Economic Development Corp., 8-9 a.m., Munson Electric, 1704 Commerce Blvd., Hiawatha. Enjoy a morning of networking with the Hiawatha business community, plus a presentation on workforce initiatives by Jennifer Daly, CEO of Cedar Rapids Iowa City Corridor Development to hear more about their workforce initiatives. Free. To register, visit
bit.ly/2m2SJ3l.
TechBrew AM, by Technology Association of Iowa and Cedar Rapids Metro Economic Alliance, 8-9 a.m., Economic Alliance, 501 First St. SE, Cedar Rapids. TAI President Brian Waller will conduct a casual interview with a local executive as part of this informal networking event. Free. Register at
technologyiowa.org/events.
Internship Program Best Practices, by Cedar Rapids Metro Economic Alliance and The Higher Education Connection, 8-11:45 a.m., Iowa Hall at Kirkwood Community College, 6301 Kirkwood Blvd. SW, Cedar Rapids. Learn from experienced participants, build your network and discuss recruiting, hosting and developing interns. This half-day event will include a keynote speaker, panel of recent interns and breakout sessions. Free. To register, visit
bit.ly/2CCflQg.
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Headlines from CBS2/FOX 28
These news items are provided by CBS2/FOX 28
An Iowan filmmaker
just hit her $35,000 goal for a film about sex trafficking in Iowa. Gridshock director Vanessa McNeal wants to tell the story of sex trafficking in our state and shine a spotlight on the depth of the problem. Ms. McNeal tells CBS 2/FOX 28 news that she's overwhelmed with gratitude and looking forward to giving survivors a voice. She wants to thank the 270 donors (and counting) who are helping to make Iowa a better place. While they hit their goal, they can still use more help. To contribute,
visit the indiegogo page.
It all started just two years ago when Douglas Cloven picked up a $26 watercolor set at Hobby Lobby, hoping to be Bob Ross for a day. Soon, he realized that not only did he have a knack for artwork, but it was a way for him to give a voice to others. As Mr. Cloven covers his canvas, he uncovers the life of a person he feels you should get to know. "I want people to ask questions about them," he said. "Wonder what they're up to. Wonder why I chose them." Like a young boy his friend met from Haiti, who was mute, but whose smile spoke volumes. "Everyone just fell in love with him," Mr. Cloven said. "Hopefully when I'm done you'll see the big smile on his face." Mr. Cloven also wants to paint the story of Iowans - from filmmakers, to Nobel Peace Prize winner Norman Borlaug, to geochemist Clair Patterson. "Iowa has amazing people; it has smart people," he said. "People who are making an impact on the planet, not just on our community." He says his process is a bit chaotic. "I have an idea and I mess it up horribly," Mr. Cloven said. "Cover that up, and I mess that up horribly. And somewhere in there it becomes something that I like and I leave it." In the end, it results in a masterpiece.
Now, he is about to have his first show at 4 p.m.Frida at Brewhemia in Cedar Rapids.
T
hese news items are provided by CBS2/FOX 28
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CBS2 Chief Meteorologist Terry Swails'
Weather First Forecast
Several inches of snow will fall through Saturday across Eastern Iowa. Moderate to heavy snow will be likely this afternoon through Friday afternoon. Another round will move in Saturday, but will mainly be near and south of Highway 30. Winter Storm Warnings and Winter Weather Advisories go into effect this afternoon through Friday night. Snow will begin south of Highway 20 in the afternoon and will become more widespread, heavier and steadier after 5 pm. Much of Eastern Iowa will be seeing snow through the evening hours making for a slick and tricky commute home. Snow could be heavy at times which will reduce visibility and make it difficult for crews to keep up with clearing the roads. Moderate to heavy snow will fall through the night and into Friday morning. It will still be slick and visibility may be reduced at times during the Friday morning commute. Snow will begin to wind down early Friday evening. Another system arrives Saturday with additional snow possible. However most of the snow will likely fall south of Highway 30. There is still a bit of uncertainty with the track of this storm and it still could still shift. Snowfall accumulation of 4 to 8 inches will be possible in near Highway 20 and down to I-80. There will be lower amounts in the far north and far south. There could be some locally higher amounts, around 10 inches along Highway 20.
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