Plan for the End Game and Reward Yourself for the Risk
Plan your business exit to walk out with the compensation you deserve
by Chia-Li Chien | Feb. 15, 2012
How long have you been a Facebook user? How long has your business been on Facebook? Even my 74-year-old Dad is on Facebook! According to Facebook, one out of nine people on Earth use Facebook. To say the least, it is an incredibly popular as a social networking site.
Facebook went IPO early in February 2012. That means Mark Zuckerberg, Founder, Chairman and CEO of Facebook will probably reap a personal net worth north of $20 billion—just in time for his 28th birthday in May.
In the history of IPO, many people have become instant millionaires or even billionaires, like Mark Zuckerberg. When talking to or interviewing entrepreneurs, I often ask, “What does your end game look like in terms of your exit strategy?” Almost 90% of them, to my surprise, will tell me, “I am not ready to retire yet.”
Do you think Mark Zuckerberg is going to retire after the Facebook IPO? As matter of fact, Jeff Bezos, CEO of Amazon did not after his IPO. Neither did Tony Hsieh, CEO of Zappos after he sold Zappos to Amazon. Many privately held business owners continue to work in the same business after selling their firm, regardless of internal or external transfer.
In my experience, when the owner is ready to exit, one-third of all businesses are sold to a third party, one-third are transferred within their own firm, and one-third simply will close the door. So which type of exit is best for you? Most business owners or entrepreneurs focus on growing their company revenue and overall operations. The majority of entrepreneurs really don't even think about their exit—much less about which exit strategy is right for them.
In general, you either transfer your business internally or externally. In some cases, businesses can be structured so that they have a combination of internal and external transfers to achieve ultimate wealth for the entrepreneurs. But before we jump into each channel or method, try to answer these three questions:
1. In a perfect world, how would you want to leave your business? 2. Who's the best candidate to continue your legacy? 3. Can the sales proceeds support your next journey?
Let’s take a look at the summary of two major transfer methods: internally or externally.
If you’re going to exit your business someday, I am going to assume you want to exit profitably. Think of it as a way to reward yourself for taking the risk of going into business in the first place. Not only will you need FUNDENMENTAL VALUE for acquisition, but also one of the right exit method(s) above to help you get there.
Yes, you’ve heard me talk about this often, but I must emphasize here that unless you plan early and have an overall strategy in place to grow in value, each of the above transfer methods will be only a tactical exercise. You first must have that fundamental value in your business for acquisition. When you do, you’ll be able to sell your business at any time profitably. You may not be like Mark Zuckerberg but you can join the small percentage of the one-third who do sell profitably intentionally!
Although a business exit can be triggered by different factors, the value varies depending on the exit methods. These factors include 1) personal timing 2) business timing and 3) economic timing. You want to make sure all three factors in timing are in your favor when cashing out!
Even if you cash out due to the need for capital to expand your business you must a have sophisticated key management team within your strategic buyers. You’ve got to make sure all three timing factors are on your side and plan early to have the right transfer method(s).
Why? Claim your reward by compensating yourself for the risk you took in creating and running your business. Don’t wait too long for any of the triggers from personal, business or economic timing. Do yourself a favor—set a goal to be able to sell anytime! Profitably! Make it a win-win for you and your buyers/investors.
Perhaps you don’t want to or need to be like Mark Zuckerberg, CEO of Facebook. But doesn’t it make sense to plan ahead for the wellbeing of your business, you and your family? Think about it—what does your end game look like in terms of an exit strategy?
Reference:
Facebook Stock: Should You Buy It? By Stacy Johnson http://www.askmen.com/money/investing_300/353_facebook-stock-should-you-buy-it.html
After IPO, Facebook will face pressure to crank up revenue; $4.39 per user won’t be enough, from the Associated Press, February 2, 2012. http://www.washingtonpost.com/business/technology/friending-wall-street-facebook-hopes-to-raise-5-billion-in-highly-anticipated-ipo/2012/02/02/gIQAZL9WjQ_story.html
Chien, Chia-Li. 2010. Show Me The Money - Run Your Business like a Prosperous Investor. iUniverse. Appendix A: Transfer Methods
About Chia-Li Chien
Chia-Li Chien, CFP®, CRPC, PMP; Chia-Li “like JOLLY!” A passionate leader of small business strategic equity value creation and implementation mastery. She is a globetrotting strategist, speaker and author. She is CEO and chief strategist of Value Growth Institute dedicated to creating business value that transforms your world. Capture meaningful personal wealth. Position your business for future transitioning.
Chia-Li is also a Midas Advisor to MidasNation, a community dedicated to helping private business owners increase the value of their firms. She is the award-winning author of Show Me The Money and faculty member of American Management Association. Her blog and newsletter was recently named a top small business resource by the New York Times “You’re the Boss” blog. You can watch a FREE video entitled "Navigating Through Today's Turbulent Business Waters!" at http://valuegrowthinstitute.com/vgi/webinar
Making a list of your core competencies could give you the answers you are looking for.
by Chia-Li Chien | Feb. 06, 2012
Many years ago I contracted an answering service for my business in order to make sure every call got answered by a live person who could schedule appointments for clients and potential clients. Four months into this implementation, I got a call from Randy (not his real name) who was my most important client at that time. He told me the person answering his recent phone call sounded like she had just woke up. She was not professional at all. It did not take long for me to terminate the answering service contract. Instead, I increased the hours for my assistant in the office to mind the phone during business hours and with professionalism.
“We sell TRUST!” says Laurie Leonard, co-owner of SUITE 1000, a top 24-hour telephone answering service that specialized in manufacturing, attorneys/personal injury, marketing agencies, property management and medical industries, etc. The company has a process that helps customers design a system not just for call answering but also for call screening, appointment scheduling and a staff of smarter representatives to present your best business image and reputation. SUITE 1000 is now a trusted outsource partner that adds value to many businesses.
In PROFITS MATTER®, I often encourage my clients to identify core competencies to invest in within the business. Tasks and services that do not fit within that list should be outsourced, which means they can then spend the majority of their time and efforts optimally within that list of core competencies to get the most value from the business.
Core competencies have two parts: 1) key resources and 2) key processes. Although customer service and call answering may sound easy enough, I bet many businesses out there don’t have this as their core competency. To work with the right outsourced partner, Ms. Leonard encourages entrepreneurs to consider the following:
A.Identify, develop and streamline processes in outsourced areas such as:
Lead capture and qualification
Sales order taking or customer Intake such as in legal or medical fields
Appointment scheduling
Customer service such as service dispatch, website support, outbound calling
Administrative such as live receptionist or disaster recovery
B. Identify, develop and measure the performance. Monitor the performance of your outsourced partner on regular basis. Adjust your processes as you see how it will benefit your business from the outsourced partner.
C. Leverage outsourced partners for Human, Capital and infrastructure. Training and processes obviously makes an outsourcer stand out with their service. You want to find out how much training their employees receive because they will ultimately service your customers. A great outsourcer has the foundation in human capital as well as the process and other infrastructures that can be customized for your business.
The list above represents what Leonard‘s SUITE 1000 provides for their customers. The team strives for and is very proud of their No Surprise Pledge.
As your business grows and scales, you need trusted outsourced partners. Each outsourced partner may take care of an area of your business that is not a core competency. These partners should have a transparent integration into your business or otherwise it could be costly to you. A great outsourced partner will help you validate whether or not your business is sustainable. How? The cost of doing business become more obvious and apparent because it will be no longer buried in your P&L. There are lists of metrics to monitor, there is a rapport and there is continuity. Without the right outsourced partner, growing your business may be slower than you expect.
So do this: Take a hard look at your core competencies. You might find ways to maximize your investment in something that truly fits your core competencies. Give yourself permission to outsource something you’re not really good at and/or don’t want to do.
Nominate a business!
This featured business SUITE 1000 was nominated by author Chia-Li Chien. Would you like to nominate chamber members, customers, business colleagues or other businesses you are associated with? If chosen, these businesses could be featured in our blog just like the business you read about above. Check out our annual BVD study/interview at http://vgi168.com/BVD
About Chia-Li Chien
Chia-Li Chien, CFP®, CRPC, PMP; Chia-Li “like JOLLY!” A passionate leader of small business strategic equity value creation and implementation mastery. She is a globetrotting strategist, speaker and author. She is CEO and chief strategist of Value Growth Institute dedicated to creating business value that transforms your world. Capture meaningful personal wealth. Position your business for future transitioning.
Chia-Li is also a Midas Advisor to MidasNation, a community dedicated to helping private business owners increase the value of their firms. She is the award-winning author of Show Me The Money and faculty member of American Management Association. Her blog and newsletter was recently named a top small business resource by the New York Times “You’re the Boss” blog. You can watch a FREE video entitled "Navigating Through Today's Turbulent Business Waters!" at http://valuegrowthinstitute.com/vgi/webinar
How can your business take advantage of APP technology?
by Chia-Li Chien | Jan. 26, 2012
My mother-in-law Lily got an iPad as a Christmas gift. My daughter, who has been an iPod user for many years gave Lily a tutorial on how to use her iPad—quite an amazing bonding experience for my daughter and her grandmother. The ease of use of the iPad was crucial for Lily, who, in her late 60s, had no experience with email and had never even used a computer. A good orientation was critical in order for Lily to stay active on and to put her iPad to continuous use.
A few of the free applications Lily immediately put on her iPad were Skype, TV news apps, video and photos apps, Facebook, etc. Even I got a Facebook notification from her just last week. That’s amazing for Lily, considering she had such low technology background.
Lily’s newfound tech aptitude leads me ask you, “How can your business take advantage of APP technology to increase revenue?”
Eli Swed, lives in Tel Aviv, is married, a father of four and the owner of many successful businesses. He recently shared some insights about using apps in business with me. Eli’s recent venture is Picalogo:
“It’s the first one click check-in and coupon delivery app!” claims Eli. The Picalogo iPhone app enables the user to get coupons and redeem them just by taking a picture of the logo of the business where you are. Oh, it also has a check-in feature with your social media sites such as Facebook and Four Square so your friends know you just got a great deal and they can too.
Here is how it works. Let’s say you’re running an errand to Target (as an example since they’re not currently participating in the Picalogo service). If you are like me, I often make a list of items to buy and have my coupons ready. But I often FORGET to bring the list and coupons with me! So not only do I not have my list, I don’t have the coupons either. Picalogo allows me to use my smartphone to take a picture of Target’s logo. Then it will display all available coupons that were in the printed format I received (and left) at home. At the check-out, I simply provide the coupons to the cashier via my smartphone. They can scan, type in the code and redeem the coupons. How amazing is that!?
Leveraging his 20+ years technology background plus keeping a sharp eye on the needs on the market place, Eli came up with the algorithm to detect the logo and conduct an effective search for coupons only for the store you’re in. The app allows the consumer to take advantage of the savings plus allows the retailers to continue to brand and advertise on and off line. Unlike Groupon, there is no need to purchase the coupons up-front. For the retailers, there is no revenue split required.
According to Eli’s market research, “actual U.S coupon distribution cost is more than double its average face value.” And furthermore, “only one out of 175 distributed coupons is redeemed,” said Eli. So by tapping into the existing marketing dollar, Eli’s app actually can save the retailer money and help the consumer save money too. What a great win-win situation!
One critical part of Picalogo’s go-to-market action is to partner with the right market makers such as POS (Point of Sales, RDS , or credit card processing companies such as Authorize.net.) Market makers are entities that have exactly your ideal target customers. So by partnering with the right market makers, he can continue to grow his business without funding partners.
In addition to this crowdsourcing method to gain consumer usage, Eli also can become the market maker for other B2C businesses. He has the consumer mass plus the network of market makers like himself. What a brilliant idea!!
As Lily, my mother-in-law enjoys the latest iPad and APP technology at her convenience. I’m sure she will tell all her family and friends about apps like Picalogo, perhaps via Facebook, email, or Skype. Leveraging the right app with the right consumer experience for your B2C business is critical.
Perhaps you’re not yet tapping into mobile marketing or just now adjusting to on-line marketing. Take a look at your market needs and find the right market maker like Eli has done with Picalogo. You too can gain the edge you need to create value creation for both your business and your customers!
Nominate a business!
This featured business Picalogo was nominated by Linda Hughes, CEO of Entrepreneur Community Online, LLC http://www.EntrepreneurCommunityOnline.com Would you like to nominate chamber members, customers, business colleagues or other businesses you are associated with? If chosen, these businesses could be featured in our blog just like the business you read about above. Check out our annual BVD study/interview at http://vgi168.com/BVD
About Chia-Li Chien
Chia-Li Chien, CFP®, CRPC, PMP; Chia-Li “like JOLLY!” A passionate leader of small business strategic equity value creation and implementation mastery. She is a globetrotting strategist, speaker and author. She is CEO and chief strategist of Value Growth Institute dedicated to creating business value that transforms your world. Capture meaningful personal wealth. Position your business for future transitioning.
Chia-Li is also a Midas Advisor to MidasNation, a community dedicated to helping private business owners increase the value of their firms. She is the award-winning author of Show Me The Money and faculty member of American Management Association. Her blog and newsletter was recently named a top small business resource by the New York Times “You’re the Boss” blog. You can watch a FREE video entitled "Navigating Through Today's Turbulent Business Waters!" at http://valuegrowthinstitute.com/vgi/webinar
Has eCommerce truly put the need for the salesperson to rest?
by Chia-Li Chien | Jan. 18, 2012
When I was in elementary school in Taipei, Taiwan, my mom was a schoolteacher. At that time, she also had her own four school-aged children to juggle just like any other working mom. Every day, she made sure that each of us got a nutritious breakfast, lunch and good grades in school. When living in a metropolitan city like Taipei, everything is about convenience. So right next door to our condo complex, there was this mom and pop convenience store we called the Wan’s. As a good neighbor, my mom wanted to support the Wan’s. So she contracted with them to provide breakfast for her four children.
Each morning, I stopped by the Wan’s store to pick out my choice of Taiwanese bread and a drink to go. Then I was on my way to catch the bus. As it turned out, many of the neighbors decided they wanted the same service. So the Wan’s store started distributing these delicious and nutritious, easy to go breakfasts. I never had to worry about paying—the Wan’s settled that with my mom on a weekly or monthly basis. With that one smart decision to outsource our breakfasts, my mom was relieved of a huge part of her morning responsibilities—a cue even other mothers took!
When the Wan’s collected payment from my mom, they updated her on our favorite choices from their freshly baked to-go items. What the Wan’s provided is like today’s affiliated network marketing (network marketing, or multi-level marketing such as NuSkin, Amway or direct sell like Mary Kay or even on-line shopping distributorships). Wan’s store acted as that retail distributor which provided face-to-face service to my mom and others in the neighborhood.
“Everything old is new again!” That’s something I heard over and over growing up. Fast-forward to today’s highly technologically connected society. There is much more choice and convenience in terms of shopping on-line—from selection to ordering to service. So what’s missing? I think it’s the one-on-one personal connection. Today, there is a surge of one-on-one and face-to-face selling going on today. Nothing new— it just has even more challenges and demands now.
You can argue that this type of consumer service can be easily provided by the on-line retail box stores. Plus, customer service can provide that one-on-one personal touch over the phone. The convenience of ordering online allows retailers to identify shopping pattern as well as how to best service consumers.
Local community is still a big part of our everyday life. Even Wal-Mart, known for mass retailing products, also may carry many local products. Localization of any type of services and products has been a big part of many giant consumer companies. The question is how can a small-mid-sized business leverage localization efficiently to gain more revenue through the right distribution channels with or without a salesperson?
The Death of the Salesperson may be over-exaggerated even as eCommerce continues to boom in today’s world. Let’s take a look at when the banks rolled out ATM’s years ago. Did you see banks closing down their retail outlets as predicted? No. As matter of fact, more retail outlets opened as more on-line banking and ATM’s became available.
Even with the onslaught of eBooks, more people are now buying books from Amazon and/or brick and mortar bookstores, regardless which media (print, eBook or even Kindle) is available. At the end of the day, humans are designed to interact with each other. The one-on-one or face-to-face interaction is still a big part of obtaining contracts, products, etc. Hence, the right customer service can win customers.
And if eCommerce is slowly killing off all the salespeople out there, why is there such a supply and demand for network marketing? One answer could be that perhaps the unemployment rate is high, or perhaps it could be attributed to the overwhelming information available on the Internet. But talking to a real person is still a choice many—if not most—people desire.
Ramping up your business revenue takes a mindful design in crafting your distribution channels. Whether it’s B2C or B2B, you must carefully use the right market makers to facilitate the distribution or distribute on your behalf. (Market makers are entities that have your exact ideal target customers.) Social networking can help to speed up the distribution if you target the right market makers with the right messaging.
One could still argue that death of the salesperson is true in regards to the dominance of eCommerce, especially in some markets and products, but I must argue that the salesperson has been transformed to a different form of distribution—the right market makers. So who are your market makers that can help you ramp up your revenue?
About Chia-Li Chien
Chia-Li Chien, CFP®, CRPC, PMP; Chia-Li “like JOLLY!” A passionate leader of small business strategic equity value creation and implementation mastery. She is a globetrotting strategist, speaker and author. She is CEO and chief strategist of Value Growth Institute dedicated to creating business value that transforms your world. Capture meaningful personal wealth. Position your business for future transitioning.
Chia-Li is also a Midas Advisor to MidasNation, a community dedicated to helping private business owners increase the value of their firms. She is the award-winning author of Show Me The Money and faculty member of American Management Association. Her blog and newsletter was recently named a top small business resource by the New York Times “You’re the Boss” blog. You can watch a FREE video entitled "Navigating Through Today's Turbulent Business Waters!" at http://valuegrowthinstitute.com/vgi/webinar
Thank you for accepting the call to lead your chapter's pro bono effort.
YOU ARE A SUPER CONNECTOR! You are a super connector for your local community, financial planning profession industry, FPA, pro bono clients, and pro bono volunteers etc. Thank you for playing this key role for your community, financial profession and FPA.
Whether this is your first time been a Pro Bono Director or returning Pro Bono Director. Here is top 3 priorities you might want to consider as you lead your local pro bono efforts.
1. SET YOUR RULE. You took on this key leadership role in your chapter. You can play as big as you want or as little as you want. The choice is yours. Set your rule! So you can have a healthy financial planning practice at the same time been rewarded by this wonderful pro bono experience. My first year as a Pro Bono Director in 2009, I did not set the rule. Pro Bono almost consume my entire financial planning practice. Then I realized, pro bono director is not a "full time job" perhaps you're much smarter than me to figure that out. Today, my rule is simple, 2 hours on each Friday morning is my commitment as a chair. Any additional hours needed must come after work. Go ahead, set your own rule, you too can grow wonderful experience in leadership, communication and connection in your own local community. 2. SURROUND YOURSELF WITH GREAT PEOPLE. You can't do everything by yourself if you still want to have a healthy financial planning practice. Your volunteers, committee members and even the CBO (Community-Based Organization) staff are your people on your team. Take your time to think through whom you want on your team. So they can help you deliver meaningful projects in your chapter and community. Use your leadership and communication skills to implement through your team. Find out what rewards your team. A personal thank you note was what my committee members and volunteers wanted in 2009. So I did that. Get involved with women related organizations was few of my volunteers wanted. So we did that. Let this be a rewarding experience for your volunteers as well as you.
3. LEVERAGE AVAILABLE RESOURCES. For those of you attended the FPA Chapter Leaders conference in the past. You know the amount of available resources are out there to support your local project. For those of you have not get a chance to do so. Plan to do that this year. Leverage what's available to you both within FPA and FPA national alliance partners. Amira Tart is your point of contact to obtain these resources. Here is same list of the available resources:
CBO resource
Sample MOU
2012 Pro Bono Plan of work template
PowerPoint Presentations
Financial Assessment System/Money 101
Pro bono brochure, etc.
All of us in the pro bono advisory committee have been in your shoes. We are here to help you to have a successful pro bono program this year.
Participate and gain insight from the pro bono community
Participate in Chapter Pro Bono Directors Quarterly Conference Calls
Join FPA Connect in Pro Bono
Have questions? Contact Amira Tart from FPA National.
Thank you for helping expanding the pro bono footprint nationally. Your leadership contributions are greatly appreciated from all of us in FPA as well as pro bono clients.
Chia-Li Chien, CFP®, CRPC, PMP
Chair, Pro Bono Advisory Committee
About Us Pro Bono Advisory Committee
Pro Bono Advisory Committee supports and assists with the advancement of FPA's pro bono program. Today's approximately two-thirds of all chapters have a pro bono director or equivalent, working to organize pro bono initiatives. Volunteers across the country are donating thousands of hours of their time to assist underserved individuals and families.
Pro Bono Advisory Committee consists of current or former Chapter Pro Bono Directors. Members provide insight and best practices related to individual chapter programs/initiatives.
About Chia-Li Chien
Chia-Li Chien, CFP®, CRPC, PMP; Chia-Li “like JOLLY!” A passionate leader of small business strategic equity value creation and implementation mastery. She is a globetrotting strategist, speaker and author. She is CEO and chief strategist of Value Growth Institute dedicated to creating business value that transforms your world. Capture meaningful personal wealth. Position your business for future transitioning.
Chia-Li is also a Midas Advisor to MidasNation, a community dedicated to helping private business owners increase the value of their firms. She is the award-winning author of Show Me The Money and faculty member of American Management Association. Her blog and newsletter was recently named a top small business resource by the New York Times “You’re the Boss” blog.
Poetica LLC is co-organizing a new energy trade mission to China. The trade mission invites interest parties to travel to the epicenter of new energy development and funding in China (Beijing – Tianjin – Shanghai) in mid-April.
The trade mission has a clearly defined process to connect participants with Chinese investors/companies.
Companies seeking funding will be introduced to investors.
Qualified attendees will also meet potential market-entry or joint development partners.
Among the destinations:
China New Energy Chamber of Commerce
Several leading Chinese new energy companies
Meeting with new energy investment firms
Meeting with top IP lawyer from China Bar Association
Meeting with officials from several Chinese ministries and municipal governments that leads in new energy development
China Beijing Equity Exchange
China Beijing Environment Exchange
China Renewable Energy Society
Tsinghua University and China Academy of Sciences new energy labs
Binhai District ,Tianjin (“the next Pudong”)
And attend the Sixth China New Energy International Forum
Chia-Li Chien, CFP®, CRPC, PMP; Chia-Li “like JOLLY!” A passionate leader of small business strategic equity value creation and implementation mastery. She is a globetrotting strategist, speaker and author. She is CEO and chief strategist of Value Growth Institute dedicated to creating business value that transforms your world. Capture meaningful personal wealth. Position your business for future transitioning.
Chia-Li is also a Midas Advisor to MidasNation, a community dedicated to helping private business owners increase the value of their firms. She is the award-winning author of Show Me The Money and faculty member of American Management Association. Her blog and newsletter was recently named a top small business resource by the New York Times “You’re the Boss” blog.
Chia-Li Chien, CFP®, CRPC, PMP; Chia-Li “like JOLLY!” A passionate leader of small business strategic equity value creation and implementation mastery. She is a globetrotting strategist, speaker and author. She is CEO and chief strategist of Value Growth Institute dedicated to creating business value that transforms your world. Capture meaningful personal wealth. Position your business for future transitioning.
Chia-Li is also a Midas Advisor to MidasNation, a community dedicated to helping private business owners increase the value of their firms. She is the award-winning author of Show Me The Money and faculty member of American Management Association. Her blog and newsletter was recently named a top small business resource by the New York Times “You’re the Boss” blog.
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PROFITS MATTER®
2-Day Strategy Workshop 2012 Schedule: Feb. 09 to 10, 2012 Mar 08 to 09, 2012 Apr 26 to 27, 2012 May 17 to 18, 2012 Oct 11 to 12, 2012 Nov 08 to 09, 2012 Dec 06 to 07, 2012
Charlotte Today WCNC-TV TV InterviewChia-Li Chien. Aug 3, 2010
Blog
How long have you been a Facebook user? How long has your business been on Facebook? Even my 74-year-old Dad is on Facebook! According to Facebook, one out of nine people on Earth use Facebook. To say the least, it is an incredibly popular as a social networking site. 
Chia-Li Chien, CFP®, CRPC, PMP; Chia-Li “like JOLLY!” A passionate leader of small business strategic equity value creation and implementation mastery. She is a globetrotting strategist, speaker and author. She is CEO and chief strategist of Value Growth Institute dedicated to creating business value that transforms your world. Capture meaningful personal wealth. Position your business for future transitioning.
“We sell TRUST!” says Laurie Leonard, co-owner of SUITE 1000, a top 24-hour telephone answering service that specialized in manufacturing, attorneys/personal injury, marketing agencies, property management and medical industries, etc. The company has a process that helps customers design a system not just for call answering but also for call screening, appointment scheduling and a staff of smarter representatives to present your best business image and reputation. SUITE 1000 is now a trusted outsource partner that adds value to many businesses. 
“It’s the first one click check-in and coupon delivery app!” claims Eli. The Picalogo iPhone app enables the user to get coupons and redeem them just by taking a picture of the logo of the business where you are. Oh, it also has a check-in feature with your social media sites such as Facebook and Four Square so your friends know you just got a great deal and they can too.
This featured business Picalogo was nominated by Linda Hughes, CEO of Entrepreneur Community Online, LLC http://www.EntrepreneurCommunityOnline.com Would you like to nominate chamber members, customers, business colleagues or other businesses you are associated with? If chosen, these businesses could be featured in our blog just like the business you read about above. Check out our annual BVD study/interview 
When I was in elementary school in Taipei, Taiwan, my mom was a schoolteacher. At that time, she also had her own four school-aged children to juggle just like any other working mom. Every day, she made sure that each of us got a nutritious breakfast, lunch and good grades in school. When living in a metropolitan city like Taipei, everything is about convenience. So right next door to our condo complex, there was this mom and pop convenience store we called the Wan’s. As a good neighbor, my mom wanted to support the Wan’s. So she contracted with them to provide breakfast for her four children. 
The Death of the Salesperson may be over-exaggerated even as eCommerce continues to boom in today’s world. Let’s take a look at when the banks rolled out ATM’s years ago. Did you see banks closing down their retail outlets as predicted? No. As matter of fact, more retail outlets opened as more on-line banking and ATM’s became available. 
