Jay Sachetti joined Jeff O’Brien, partner at Husch Blackwell and Dyanne Ross-Hanson, president of Exit Planning Strategies talked about the market for mergers and acquisitions, exit planning opportunities for companies that don’t end up for sale and how companies can maximize their eventual sale price during an early October panel at the first Upsize on Tap event at Summit Brewing Co. in St. Paul.
When the state Legislature passed a law requiring employers to provide paid leave and safe time for employees, Justin Bieganek started hearing differing details from friends, colleagues and peers.
By Beth Ewen
The Informer poured a tall glass of Fresca, put her feet up and called in to “The ABCs of Pricing,” a class taught via teleconference and sponsored by AIM to Succeed, a local networking group founded by Colleen Davis.
She learned that ethics should play an important role when setting prices, according to Regina Barr of Red Ladder Inc. in St. Paul, who taught the course. Why Barr became interested in the topic? “I thought it was taboo in the corporate world to talk about salary,” Barr said, adding that in the entrepreneurial world it’s even worse. “Consultants don’t like to talk about their fees. It’s taboo to talk about money.”
Barr said when she first became a consultant, she was puzzled to find that many people were struggling with their small businesses. She offered to evaluate an acquaintance’s services for free.
“She walked me through this outstanding analysis. At the end, I said I’d be willing to pay at least twice what you’re charging for this,” Barr says. “Women were just underpricing themselves and literally giving their services away.”
Why should you have a pricing philosophy and structure, according to Barr?
No. 1, it promotes client trust. “You don’t want to charge one client $1,000 and the next client $1,500. They do talk,” Barr said.
No. 2, it promotes professionalism. “It helps you to look and feel more confident, because when clients question your price, and they will, you are prepared.”
No. 3, It helps you to avoid underpricing “because you have done your homework,” she said.
She figures out a price that takes into account all her overhead, marketing, and so on, and how much business she needs to book. “It is OK to have difference prices if the work is different,” she notes. For example, she charges more if she’ll be at a client’s site, and less if it’s in her office. A caveat: “Have the same strategy with each of your realms,” Barr said.
The Informer sipped, listened, learned and even got to ask a question or two, without ever leaving her comfy chair. Ahh — that’s the way to attend a meeting.
Try to make it to: Aim to Succeed sponsors regular classes via teleconference, and credits can be obtained through Concordia University in St. Paul. Cost is $20, $10 for AIM members. Contact Colleen Davis, AIM to Succeed: 763.323.7551; www.aimnetworking.com
Upsize Minnesota was the subject of a Risdall Advertising think tank, a brainstorming session that the New Brighton ad agency offers regularly to clients.
John Risdall, president, assembled about a dozen of his staffers, who went around the table offering their ideas on the client’s topics of choice: in Upsize’s case, revenue-building, brand-building and circulation-building.
Some were cute, if problematic: Put up signs all around town saying “going out of business.” Right by it, put a stack of Upsize magazine and a sign that says: “shoulda read Upsize.”
Some were obvious: Sell more advertising to more customers.
Some were smart: Align with local chambers of commerce, university entrepreneurial education centers and the Small Business Administration to become their quasi-official publication.
John Risdall says the agency has done a think tank practically every week for the last two years. Last fall they did one for Ovations, a division of UnitedHealth Group of Minnetonka, which had used Risdall for its TV ad campaign only.
The group threw out so many good tactics and strategies, Risdall says, and even three new print ad ideas, that Ovations gave its print business to Risdall, too.
For Upsize, Risdall’s creative director even whipped up a few mock covers for consideration, featuring photo illustrations of a single theme. Now, if they’d only write the Informer’s next Two-Minute Meeting column…
Bonus: Risdall served super-delicious desserts from Franklin Bakery in Minneapolis. They also have dozens of candy jars in their conference room.
Try to make it to: Risdall Advertising Agency offers think tanks to clients: 651.631.1098; www.risdall.com
Fred Haberman was exhausted, he said, having just done the opening of the new Wolfgang Puck restaurant, 20.21, at the Walker Art Center. A few days later this spring he was checking out the vodka and caviar at the opening of the Museum of Russian Art in Minneapolis. His firm, Haberman & Associates in Minneapolis, handled publicity.
A stunning painting of a big red horse dominated one giant black wall. There were dozens more, all 20th-century paintings by Russian artists, many from The State Tretyakov Gallery in Moscow.
Ray Johnson, founder of the museum, is a Twin Cities entrepreneur who started buying paintings from Moscow artists in 1989, when the Soviet Union still existed. By 2002 he owned as many as 14,000 Russian paintings that he sold in an Arizona gallery and from his company headquarters, the Hadley Holding Cos. Hadley makes and sells wildlife-art reproductions, collectible porcelain and accessories.
Ray and Susan Johnson have “established the most comprehensive private collection of Russian art outside of the Soviet Union,” said Brad Shinkle, museum director. He praised Julie Snow of Julie Snow Architects, the Minneapolis firm that presided over the redo of the former Mayflower Church.
Said Johnson at the gala event: “I want you to go away with an enhanced appreciation for the underlying aspirations that all humans share. They are shared by Russians and Americans alike.”
Try to make it to: The Museum of Russian Art is at 5500 Stevens Ave. S., Diamond Lake Rd. exit at I-35W in Minneapolis: 612.821.9045; www.tmora.org
Ever wonder if you made the right choice, being an entrepreneur? Ever miss the corporate life, including expense accounts and lots of people?
Some of the people admitted to such at an informational breakfast for an Executive Women’s RoundTable, a program of the International Institute for Women Entrepreneurs at the College of St. Catherine.
“I miss being able to leverage a team,” one attendee said. Other attendees were corporate executives, right below the very top, trying to learn to lead in a new way.
“I’ve found that people at all ages are kind of seeking. There’s a tremendous restlessness,” said Cheryl Alexander, founder of Cheryl Alexander & Associates and the roundtable facilitator. They say, “I’m on a treadmill, but where’s the meaning.”
The roundtables meet at least once a month, and work through a curriculum on leadership development. There are groups for business owners, too, called Women’s Business Owner RoundTable.
Try to make it to: A year’s subscription fee to join the roundtable is $3,750, and new groups form regularly. Contact Jeanne Bailey, International Institute for Women Entrepreneurs: 651.690.8665; www.stkate.edu/iiwe
