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TRI-STATE NEWS FOR YOUR BOTTOM LINE
DECEMBER 2013
How
will the
new year
unfold?
INSIDE
CREATE YOUR
FUTURE WITH
A STRATEGY
A GOOD
PORTFOLIO CAN
EASE THROUGH
TOUGH TIMES
RE-RECRUITING
YOUR TOP
PERFORMERS
AREA
EXPERTS
OFFER
THEIR
PREDICTIONS
FOR 2014
A product of
SPONSORED BY:
CLARKE
UNIVERSITY
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bizTimes.biz, Dubuque, Iowa, December 2013
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READER GUIDE
bizTimes.biz, Dubuque, Iowa, December 2013
What’s going to happen?
T R I - S TAT E N E W S F O R Y O U R B O T T O M L I N E
December 2013
Volume 23, Issue 3
On the cover
What were some
2013 highlights?
How about a look
at 2014? See
what some local
experts say.
Photo by Jessica Reilly
Columns
Business, Rick Brimeyer .................. 18
Business, Terry McGovern ............... 12
Finance, John Darrah ...................... 14
Finance, Keith Habel ........................ 21
Health, Kristie Jacobsen ................. 13
Human Resources, Gerald Koppes .. 22
Lorenz on Business, Matt Lorenz ..... 32
Marketing, Christina Rader ............. 24
Sales, Jeffrey Gitomer ..................... 20
People
Achievements .................................. 44
Appointments................................... 40
New Hires ........................................ 33
Promotions ...................................... 38
Departments
Snapshots ...................................28-31
News of record ................................ 46
Reading list ...................................... 50
Connect
Linked in
Visit BizTimes at:
http://tinyurl.com/7xlvhvb
and we thank those
who gave their
views.
What does the future hold for
us?
That’s one question that
we’d all like to have answered
accurately.
Some of the tri-state’s local
business leaders will take a
swipe at answering that in this
issue, along with memories of
the current year.
We’ve got input from several
sectors, including retail, real
estate, education, health care
— enough to get us looking
forward to a New Year.
Predictions are a tricky thing,
COMING UP
In January, we’ll
look at ways to help
Gary Dura
you improve your
efficiency. There are those timestealers out there, and we’ll try
to identify them.
If you have source ideas, story
ideas or want to be a columnist,
email me at gdura@wcinet.com.
Thanks for reading.
Gary Dura
Features
He’s got designs on
his mind 10
Meet our
college
student
25
Many uncounted,
many frustrated
48
Contact Us
bizTimes.biz
P.O. Box 688
Dubuque, IA 52004-0688
www.bizTimes.biz
Amy Green
Product Manager
563-588-5655
agreen@wcinet.com
Jim Normandin
Publisher
563-588-5726
jnormandin@wcinet.com
Gary Dura
Managing Editor
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gdura@wcinet.com
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Magazine
Advertising Manager
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bizTimes.biz, Dubuque, Iowa, December 2013
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COVER STORY
4
1
0
bizTimes.biz, Dubuque, Iowa, December 2013
Prognosticating
2
the year to come
Tri-state business leaders look forward
to the great unknown: the year to come, 2014
BY MARY GLINDINNING
A
fter austerity in previous years, 2013
was a year of resilience. And next
year might be a year of renewed
economic confidence.
It was a year when the U.S. Bureau of Economic Analysis found
that Dubuque’s economy grew 5.1 percent, the fastest
stest
growth in Iowa and in the top 30 cities in the country.
ntry.
Here are some tri-state opinions about what the
e old yearr
was like and what the new year might bring:
MIKE DOLAND,
OWNER OF DOLAND JEWELERS
Highlig of 2013: The year
Highlight
went too
t quickly. Nothing is
standing
out for me here.
stan
Won’t miss: All of the
W
negativity in regards to
n
tthe politicians. Hopefully it will come to an
end.
Best thing that could
happen in 2014: ?
Foresee: Any businesses
willing to adapt
n
to changing time can expect a positive year.
JULIE BERSTLER,
OWNER OF GOTTA HAVE IT
Highlight of 2013: We have seen more day trippers
(as we call them) of women who come from short distances to shop, as well as annual visits from repeat customers who have been here in the past.
As our beautiful downtown continues to flourish
with more specialty shops and fine dinning I suspect
business can only get better.
Events like Small Business Saturday promoted nationally and a focus on buying local keeps customers
reminded of the little guys.
As a small business I work hard to keep my existing
customers happy while trying to build new customers.
By keeping my inventory current and fresh and focusing a personal service we are able to maintain in a
very competitive market.
What’s in store for 2014: My focus will be to
increase my presence through social media,
continue to build my customer e-mail list and
for myself to find more time to get back to the
sales floor with my customers by adding new
bookkeeping technology.
There is so much we cannot control in business — the economy and the weather to name
a few. For me and my business I have learned
it’s all about people, product and presentation
that equal passion, profits and prosperity.
COVER STORY
bizTimes.biz, Dubuque, Iowa, December 2013
7
JAKE WILLEY, DUBUQUE BOARD OF REALTORS
Highlight of 2013: Although not directly
Highl
related to real estate sales, the highlight
relate
the year was the Dubuque Board of
of th
Realtors centennial celebration.
Re
Beginning in 1913, Dubuque area
Realtor members have been providR
iing 100 years of real estate service
to area home and business owners.
The board conducted several events
tthroughout the year, including a
ccentennial gala where $20,000 was
rraised to support Dubuque/Jackson
County Habitat for Humanity. That
C
contribution will be used to help peocon
ple iin need achieve the American dream
of having
a home.
hav
As for real estate, our local area market
Currently, our residential sales
remains healthy.
he
are running a b
bit below those of 2012. However,
2012 was the best year we had since 2008. The
average sales price of residential homes remains
steady with marginal increases in each of the last
three years. Average days on the market for residential sales was around 80, 10 days below that of
90 in 2012 and the foreclosure and short sale market has slowed dramatically.
What I won’t miss from 2013: The return of higher mortgage interest rates and a shortage of properties for sale in active areas of the market. Early
in the year, several offers were written by different
buyers on the same property. That was good for
the seller, but often disappointing if you’re working
with a buyer.
What’s in store for 2014: I don’t see a huge
change in our market. It will probably remain flat
with little change in the number of properties sold
over 2013. If mortgage interest rates continue to
rise, it might mean single and first-time buyers
have to put off achieving their dream of homeownership until they have more in savings, unless
lenders can come up with lower down payment
options.
Biggest challenge I see for 2014: Low property
inventory and as a result, the difficult job of convincing buyers that they will need to make a good
offer on a property they consider their “Dream
Home.” If they don’t, they may lose out to someone
else.
JOANNE BURROWS, CLARKE UNIVERSITY
Highlight of 2013: All the campus enhancements resulting
from our strategic planning — the new Center for Science Inquiry, the Lingen Technology Commons and the Gantz Athletic
Center; continued success in attracting outstanding faculty
and staff; and one of the largest and most diverse cohorts of
new students in many years. This was a great year for Clarke
University.
What I won’t miss from 2013: The contentious political
environment in DC that caused so much uncertainty for our
students, faculty and staff on such critical matters as financial
aid and grants. On campus, I look forward to a break from the
necessary messiness of ongoing construction.
What is in store for 2014: Steady progress toward our strategic outcomes: recruiting success in January and next fall; new
programs in food science and master of social work that build
our momentum in the sciences and health professions; and
getting the Clarke story out more clearly and to more people.
Biggest challenge I see for 2014:
Internal: Keeping the campus community, myself included,
focused on taking the steps needed to maintain our strategic
momentum. We will need to manage our successes and our expectations, make sound decisions and take supportable risks.
External: Significant
challenges will come
from the tumultuous
environment in which
we strive to educate
career- and life-ready
graduates from traditional students to
experienced professionals seeking
doctoral degrees.
Clarke is not alone in
finding effective ways
to respond to changing
societal expectations,
technological innovations, tighter funding, and
calls for accountability and
greater affordability. The debate
over the reauthorization of the Higher Education Act will have consequences on everything from financial aid to accreditation and lots in between.
DAN MCDONALD, VICE PRESIDENT OF EXISTING BUSINESS
FOR GREATER DUBUQUE DEVELOPMENT CORP.
Highlight of 2013: “Overall, I’ve been very impressed with the resilience, driven by the private sector. It was not explosive growth, but
we continue to grow. Only four counties
in Iowa are growing, and Dubuque is
one of the four.”
Next year promises continued
growth, based on the businesses
McDonald has talked to, including
spending some money that had
been sitting on the sidelines due to
uncertainty.
Biggest challenge I see for 2014:
“Without a doubt, the age bubble. Nobody is talking about it, but it is immi-
nent and irreversible. Ten thousand baby boomers
are hitting 65 every single day,” and people who
postponed retirement due to the Great Recession also will be leaving the work force. The
age bubble has implications for whether
companies will expand or not, based on
whether they can find skilled workers.
How manufacturing is doing:
“Pretty well. The number of manufacturing companies that have plans
to expand is higher than average for
Dubuque. Their sales and market share
have seen some gains.”
A skills mismatch could make work force
recruitment an issue.
8
COVER STORY
bizTimes.biz, Dubuque, Iowa, December 2013
CELESTINO RUFFINI, DIRECTOR OF SALES AND
MARKETING, GALENA/JO DAVIESS COUNTY CVB
Highlight of
2013: Our
tourism industry succeeds
because of the individuals it takes to open doors for guests,
create succulent meals, clean the rooms
and provide educational tours for the
hundreds of thousands of visitors that
come to see us each year. This past year
we received recognition as Smithsonian Magazine’s “20 Best Small Towns
to Visit in 2013,” Fodor’s “10 Best Small
Towns in America,” Forbes Magazine’s
“America’s Prettiest Towns,” Executive
Travel Magazine’s “America’s Best Small
Towns” and our CVB was recognized as
Illinois Meetings & Events “Best Small
CVB.”
Most importantly, we were honored
by a reader’s choice survey from Condé
Nast Traveler that chose us as the “2nd
Friendliest City in the U.S.” and “14th
Friendliest City in the World.” These
recognitions validate that we continue
to be in prime position for success.
What I won’t miss from 2013: The
effects of natural disasters and general weather patterns on travel. Major
events such as earthquakes, flooding,
hurricanes, tornadoes, and blizzards
can really humble destinations. It
takes an enormous effort to get back
onto your feet after reeling from major
losses that you have no control over. It
is amazing how one event can trickle
down and make an impact nationwide.
What’s in store for 2014: Throughout
Jo Daviess County, we have begun to
see resurgence in new product development. Retailers focused on home goods,
clothing, specialty foods and more have
opened new shops both on Main Streets
and off the beaten paths.
History, outdoor and science enthusiasts have several new attractions and
exhibits coming online. Lastly, our lodging properties have been reinvesting
dollars into modernizing their facilities
to stay current with today’s standards.
It is with new product development
that we can continue to attract new, but
more importantly, repeat visitors to the
area. That is what helps all of our bottom lines.
Additionally, a continued growth is
expected in the volume of international
visitors to the tri-state area. It will be
absolutely essential that businesses
of all types begin preparing for how to
welcome and accommodate people that
do not speak English and are unfamiliar
with American customs.
Biggest challenge I see for 2014: The
constant drumbeat of how security
affects the way consumers travel, both
domestically and internationally. The
methods and amount of media consumed daily has the potential to change
our perceptions of destinations around
the world. Almost incessantly, we
hear about mass shootings, mid-flight
scares, terrorist plots and all of the ill
wills that take place.
After listening to all of the negativity
that surrounds us, it is a challenge to
remain upbeat and positive when planning a vacation which otherwise should
be an enjoyable experience.
DAVID BRANDON, UNITYPOINT HEALTH-FINLEY HOSPITAL
Highlight of 2013: Rebranding our
hospital — strengthening our population health delivery model (and message) to focus care collaboration — a
unification of care across the health
care spectrum on the patient.
What I won’t miss from 2013: The
challenge and tremendous amount of
planning and work to implement our
new electronic medical record — EPIC.
This new system will create tremendous benefits for our clinical team of
nurses, techs and physicians in creating a medical information depository
of patient medical history to ensure the
coordination of a patient’s care. This
coordination of medical information
will assist our care providers in gaining a complete insight into health care
needs of our patient community.
What’s in store for 2014: Opportunity to save more lives with the recent introduction of calcium scoring for heart
health, lung screenings for early detection of lung cancer and the overwhelming success of the cath lab including
the introduction of radial caths.
Biggest challenge I see for 2014: It is
essential that the issues associated with
the launch of the Affordable Care Act,
including the current problems with
public’s access to the application ac-
cess points (website and
d
phone) are resolved
quickly so people
have adequate opportunity to enroll in
the new government
health plans. Health
care providers will face
challenges of access
and treatment coordina-tion for the anticipated rise
in persons seeking health care
access, and it is incumbent on our government that the new plans are functional and easy to navigate beginning
in early 2014.
DARYL KLEIN, DUBUQUE COUNTY SUPERVISOR
H
Highlights
of 2013: “We got our budget director
hired and up and running. We were able to keep our
h
ttax levy asking at the same level for another year.”
What he won’t miss from 2013: “The health care
bill. That’s going to cost Dubuque County a half million this next year in additional taxes.
“I’ve been disappointed with the TH as of late.
They’ve been pretty supportive, but with the SunnyT
crest
cre Task Force, I feel they’ve used the newspaper as a
propaganda
tool. They’ve repeatedly used the term seprop
cret. Those meetings were not secret, they were closed to
the public. We didn’t think we needed to have the media
there because we wanted to have some fairly frank discussion to try to accomplish the task at hand.”
The county-owned and operated long-term care facility has been subsidized by taxpayers.
What is in store for 2014: “Sunnycrest is a huge one
we’re going to be working on. I look forward to making a
lot of headway.”
He also expects to work on a long-term solution for
office space for the county. Major road projects include
Mud Lake Road and Y13 from Farley to Cascade.
“Dubuque County has a lot of hard surface roads to
maintain,” and “our engineer estimates we’re $2 million
short” in the estimated cost to maintain bridges and
roads.
Klein also expects to work on a strategic plan and
goal-setting for the county.
COVER STORY
bizTimes.biz, Dubuque, Iowa, December 2013
9
POLLY HAUSER, CFP, SENIOR VICE PRESIDENT,
DUBUQUE BANK & TRUST; ANDREW
DOUGLAS, SENIOR VICE PRESIDENT,
DUBUQUE BANK & TRUST
Highlight of 2013:
Hauser: It’s pretty hard
not
n to be excited about the
stock
sto market returns in 2013.
But we shouldn’t lose sight of
the
th fact that economic underpinnings, including housing
p
and manufacturing, displayed marked improvements as well.
What I won’t miss from
2013:
2
Douglas: In 2014, I hope
we are
a missing the drag on the
economy caused by government
spending cuts and tax hikes.
Hauser: I won’t miss the constant barrage of political rhetoric we experienced
in 2013 — assuming there will be less next
year. Of course, there are looming showdowns over the debt ceiling, deficits and
taxes a few months from now.
What’s in store for 2014:
Douglas: In terms of the overall economic climate, we expect better growth in
the U.S. In fact, this is the first time we’ve
been optimistic about achieving above
trend growth since the end of the recession. Economic activity is picking up and
the drag on the economy from the government sector is set to fade. This should add
1 percent to GDP in 2014.
Biggest challenge I see for 2014:
Douglas: Can we remove the government albatross from the economy’s neck?
Hauser: Finding ways to encourage
and support more private sector expansion to help grow the economy.
a.k.a The Floor Emporium, Oak Street Furniture,
and Amish Heirloom Cabinetry
4370 Dodge Street, Dubuque IA
Amish Heirloom Furniture
JAMES E. COLLINS, PRESIDENT, LORAS COLLEGE
J
What’s in store for 2014: As Iowa’s first
college, we thrive on leading new initiatives and improving upon already great
strengths. We’ll be launching a completely
online graduate program in STEM (science, technology, engineering, math)
education, introducing an undergraduate
major in business analytics, welcoming
our first group of students from the Catholic Institute in France and sharing good
news about new commitments made to
our $75,000,000 campaign, Inspiring Lives
and Leadership: The Loras Legacy.
Biggest challenge I see for 2014: Loras
set a very ambitious goal of having our
campus and alumni community provide
175,000 hours of service back to nonprofit
organizations and people in need. Though
we have received all sorts of national accolades for service, this goal is perhaps our
biggest test yet.
Additionally, continuing to ensure access and affordability for students as we
innovate and provide a strong academic
experience will remain a challenge.
from the Westside Orthopaedics staff
and David S. Field, M.D.
Approaching 25,000 surgeries!
ics
ed
W est
s
DAVID FIELD, M.D.
• Home/Office
• Sleep Systems
• Kids Furniture
• Entertainment Centers
The Quality You Deserve
At Prices You Can Afford!
Mon.-Fri. 10-7 • Sat. 9-3
Sun. Noon-4
flooremporiumdbq.com
Westside Orthopaedics
4005 Westmark Drive, Suite 200, Dubuque
Ph: 563-582-6202
Furniture & Bedroom Sets
• Carpet
• Tile
• Stone
• Hardwood
Happy Holidays
Total Joint Replacement • Sports Medicine • Workers Compensation
MRI Testing Onsite • General Orthopaedics
hop
O
e
a
id
Cabinetry & Granite
Counter Tops
561112-01(12BIZ13
563-583-8222
560556-01(12BIZ13ts
Highlight of 2013: Loras College had a number of successes
ranging from enrolling our second largest first year class in 20
years to recording a 96.5 percent
full-time job and graduate school
fu
placement
rate. Both accomplishpla
ments were unique based on the challenges experienced by higher education
across the nation in these two categories.
Launching our MBA analytics program, garnering ABET accreditation for
Engineering, being again recognized with
distinction on the President’s Honor Roll
for Community Service, beginning our
175th anniversary celebration and having
our intercollegiate athletic program tout
five nationally ranked teams this fall were
pretty strong highlights, too.
What I won’t miss from 2013: I won’t
miss the pressure and stress associated
with throwing out the first pitch at a Chicago White Sox baseball game like I did
this past August when over 1,000 Duhawk
faithful showed up at US Cellular Field.
10
BIZ PROFILE
bizTimes.biz, Dubuque, Iowa, December 2013
Designed
for
success
Dave Tranel, owner of Interiors ... by design, at his Dubuque showroom. Photos by Mike Burley
Owner blends all his
businesses under
a single brand,
Interiors ... by design
INTERIORS ...
BY DESIGN
BY SCOTT SALWOLKE
When most businesses are nearing their
20th year of existence, they look to celebrate
their brand.
For owner Dave Tranel, however, he was
starting to think about rebranding the business. In fact, he was considering combining all three of his businesses into one new
brand, Interiors ... by design.
In 1993, Tranel opened The Floor Emporium on the West Side of Dubuque, even
though there was little in the area.
“I looked at a lot of areas in Dubuque before deciding on the West end and I could
see that the potential for growth was in this
direction,” Tranel said. “It was a good solid
business decision and one I feel has been
critical to our business development.”
In 1996 Tranel purchased Oak Street Furniture and, while the two businesses shared
the same building, they each had an identity all their own. In 2006, he opened Amish
Heirloom Cabinetry inside The Floor Emporium. In 2012, however, he began to think
Kitchen countertops and cabinets at
Interiors ... by design.
about bringing all three businesses together
to create a new brand.
“It was a tough decision to re-brand after 20 years of The Floor Emporium and the
others,” Tranel said. “But we offer so much
more than our previous names encompass
so it was really out of necessity that Interiors
... by design was born.
“Watching customers attempt to
handle all the time requirements and
stress of either building or remodeling
encouraged me to add another facet to
our business. The idea was to help our
customers be more productive with their
time while being able to cross another
decision off their list without packing
up blueprints, wood samples, etc., and
Owner: Dave Tranel
Address: 4370 Dodge St., Dubuque,
IA 52003-2626
Telephone: 563-583-8222
Website: flooremporiumdbq.com/
Email: interiorsdubuque@gmail.com
Hours: 10 a.m.-7 p.m., Monday
through Friday; 9 a.m.-3 p.m.
Saturday; noon-4 p.m. Sunday.
Services: Interiors ... By Design is
a furniture and flooring store that
offers Amish furniture, cabinets,
countertops, and mattresses. It has
an interior designer to help with
purchases and helps customers with
home security systems, home sound
systems, appliances, TVs and more.
heading to their next appointment.”
The renovation was a major project as
was the rebranding process.
“It was not easy to give up the brand equity we created with each one. We wanted
to retain our identity because you’ve built
Continued on page 11
bizTimes.biz, Dubuque, Iowa, December 2013
BIZ PROFILE
11
Continued from page 10
Bedroom furnishings are among the offerings at Interiors ... by design.
and flooring store.
He had started a commercial flooring
business in the Cycare Plaza, but when tenants saw his work, they asked him to assist
with their homes. As this work expanded he
decided to open the Floor Emporium.
“I really enjoy the residential segment of
the market because you get to meet a lot of
wonderful people and many have become
life-time friends and loyal customers.”
More businesses are finding that their
services are evolving and, as a result, are
considering rebranding. Tranel tells them
to take it slowly.
“I believe you have to take a slow methodical approach to rebranding because it can
be an overwhelming process if you don’t.
“Have a solid game plan, study your
market and look at consumer needs; what
makes life easier and better for your target
customer should be your focus. Patience
and conviction are huge attributes required
to pull off re-branding.”
555622-01A(10BIZ13
that up through the years, but we also
wanted a name that encompassed the
whole area. We’ve taken our time with it.
We advertise as Interiors ... by design, but
we also make sure the original names are
tagged along with it.”
They remodeled 7,500 square feet of
space and tried to design the area so that
it flowed naturally for customers. They assessed their inventory and eliminated products they believed were no longer needed,
while adding new products such as a sleep
center.
They also added a number of new lines
including Wood Harbor Cabinetry and Norwalk Custom Furniture. Like always they
looked for American-made products.
“I am all about ‘Made in Iowa’ or ‘Made in
the USA,’” said Tranel. “I am proud to have
always emphasized quality products made
in America. We have furniture made in Iowa,
Wisconsin, Illinois, Indiana, Ohio, Kentucky
and Arizona among others. Amish-made
furniture has always been an important part
of our product mix.”
An interior designer, Lynn Ford, was hired
to help customers put together color palettes that accentuate or coordinates products and/or areas of their homes.
That Tranel is celebrating his 20th
year in business is ironic, considering
it was never his goal to have a furniture
12
BUSINESS
bizTimes.biz, Dubuque, Iowa, December 2013
Creating your future with a strategy
TERRY
MCGOVERN
Clarke
University
He is a professor
at the Dubuque
institution
As 2013 ends, executives begin the process of
reflecting on the past and considering the future.
The Harvard management guru Peter Drucker
once wrote, “The best way to predict the future
is to create it.”
Making the future requires good strategy and
this is the time of the year to either create a new
strategy or assess the effectiveness of the current
one.
Good strategy is about choices. Choices as
much about what a firm will do as what it will intentionally not do. Good strategic planning typically follows a process and includes controls to
ensure the plan is properly implemented and executed.
TERRY
So why are so many employees dissatisfied with their business’ strategic planning efforts?
Why do so many firms fail to
make strategic decisions as part
of their planning process?
A McKinsey & Co. report in
2007 discusses a survey of 800
executives where only 45 percent indicated they were satisfied with their company’s
strategic planning methodology. Only 23 percent stated that
major strategic decisions were
made as part of the strategy development process.
This suggests wasted effort
and time — valuable resources
in any business. These survey results are especially alarming considering how good strategies drive
organizational performance.
A 2012 study that appeared in the International
Journal of Humanities and Social Science found a
strong relationship between a company’s strategic
planning process and company performance.
The study concluded each of the typical strategic planning steps (defining the mission, environmental scanning, naming challenges, choosing a
strategy, executing the strategy, observing its effectiveness and controlling for it) were positively
related to the firm’s success.
Strategy, when executed, works — no news
there. The problem, however, is that most firms
struggle to execute their strategy.
A 2010 white paper by the American Management Association found that 49 percent of executives from 400 companies reported a disconnect
between their company’s ability to create and
communicate strategy and its ability to deliver
real-world outcomes.
In this same survey, only 36 percent of executives reported having confidence their company
could close the gap between planning and executing. This is a shocker — 64 percent of executives
felt it was hopeless that their company was able to
execute the strategy they created — ugh.
It is difficult to imagine a company surviving
in the market if it cannot execute. What steps can
firms take to overcome this gap?
Instead of a 12-step program, I suggest a twostep. First, admit there is a problem. Second, get
help. There are management consultants who specialize in strategy execution and have models to
make it work.
Often it is a challenge for any company, especially a company that has enjoyed a little success
in the past, to admit it struggles with strategy and
all it entails.
Good strategy requires organizational changes,
and change is rarely easy. Usually executives are
too close to the day-to-day events to be aware of
or understand broader organizational issues. It is
useful to bring in a fresh set of
eyes trained to spot such issues.
SAYS
Yes, consultants tend to be
pricey, but considering all the
resources firms put forth in creating strategy, it is too wasteful
not to execute on it.
A reputable consultant
should be able to help develop
structures to deal with change,
involve the employees in the
strategy process, provide models that support the execution
effor t and dr ive alignment
throughout the firm.
No consultant, however, can
do this alone. There needs to
be a strong reason behind the
change and total commitment
from the executive team and the
employees supporting the needed changes (policies, technologies, processes, etc.) to execute the
strategy successfully.
The most useful service by a reliable consultant
is curiosity. Rudyard Kipling once wrote, “I keep
six honest serving men, they taught me all I knew;
their names were what and why and when; and
how and where and who.”
Simple questions from a qualified outsider often result in powerful insights.
It’s never easy at first, but over time, firms that
become adept at strategic planning and execution
enjoy better performance and are probably much
less anxious about the future versus those who
do not.
Getting good at strategy becomes a competency
that is not easily copied by rivals. In my experience both teaching and helping firms implement
Balanced Scorecards, the structure of the Scorecard, is a terrific way to align people and processes to convert a plan into reality.
While teaching at the National Defense University, I worked closely with the Chief Strategy
Officer at the U.S. Army’s Medical Command, a
38,000-person organization that leveraged the
Balanced Scorecard to great effectiveness in
achieving organizational outcomes.
Executives can hope things go well in 2014 for
their companies, but from my experiences, hope
does not make for good strategy.
Strategy, when
executed, works —
no news there. The
problem, however,
is that most firms
struggle to execute
their strategy.
HEALTH
bizTimes.biz, Dubuque, Iowa, December 2013
13
Maintain your weight during the holidays
KRISTIE
JACOBSEN
Mercy
Medical
CenterDubuque
She is nutrition
supervisor at the
hospital
Did you know that the average person gains one to
EAT MINDFULLY
two pounds during the holiday season?
Studies have shown that people who eat slowly,
If this doesn’t sound like much, remember if you
take smaller bites and chew their food thoroughly
gain two pounds a year during the
are less likely to overeat. Slowing
course of 10 years, you’ll gain an
down makes the eating experiKRISTIE SAYS
extra 20 pounds.
ence more satisfying, which has
Roughly 75 percent of annual
proven to make people eat less.
weight gain takes place during the
holiday season. This year, if you
ONLY EAT WHAT YOU
want to avoid undesirable weight
REALLY LIKE
gain during the holiday season,
Don’t waste calories on treats
follow these 10 steps:
you don’t really like. Say “no” to
any food you really don’t like.
CALORIES IN
CALORIES OUT
Roughly 75 percent
of annual weight gain
takes place during the
holiday season.
Be balanced. To be in balance
means you are eating approximately the same number of calories that your body
is using and your weight stays the same.
Eating an extra 500-1,000 calories per day contributes to one to two pounds weight gain per week.
REALITY CHECK
The holidays are a time to celebrate, but remember that not
every day needs to be a celebration. Set aside one or
two nights a week to enjoy yourself, but stick to your
usual routine the rest of the time.
KEEP EXERCISE IN YOUR ROUTINE
KEEP A JOURNAL
Start now — this practice does not have to take a
lot of time. Recording your food intake and exercise
has proven to help people change what they eat and
to carry through with exercise goals.
If your pre-holiday habits included exercise three
times a week, then that should be your baseline as
you head into the holiday season. Enjoy extra holiday
Continued on page 14
Happy Holidays
from our Sedona Family to yours,
Thank you
for your continued support over
the last 20 years!
2065 Holliday Drive • Dubuque, IA
563-556-3040
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14
FINANCE
bizTimes.biz, Dubuque, Iowa, December 2013
A good portfolio can offset down times
JOHN
DARRAH
HK
Financial
Services
He is with the
Dubuque company
At the time of this writing in early November, the
stock market has reached all-time highs as measured
by the Dow Jones Industrial Average and the S&P 500,
about 15,500 and 1,750 respectively. The yield on the
10-year U.S. Treasury Note is about 2.6 percent.
To put this in perspective, when I started my career
in financial services in 1981, the Dow was at around
800 (yes, 800, not 8,000) and the yield on the 10-year
Treasury note was more than 10 percent.
During the last 32 years, even with all the fear, uncertainty, crises big and small, and market booms
and busts that have occurred, the
price level of the stock market has
JOHN
increased almost 20-fold, without
factoring in the positive effect of
dividend payments.
In spite of this amazing longterm performance, investing in
the stock market is a scary and intimidating proposition for many
people. It is not the years of big
gains that we tend to remember,
but rather the times of large losses,
most recently during late 2008 and
early 2009.
Despite widespread declines of
40 percent or more during those
months, investors who stayed the
course and continued to invest
during that time have recovered
their losses and now have a positive return.
In fact, the S&P 500 five-year average annual return ending Sept. 30, 2013, is right at 10 percent, a
period that includes the market low of March 2009.
Investors who do not have all their money back
and more since 2008 are likely those who made a
very understandable but emotional decision to sell
when prices were down.
In the past 30 years, the fact that markets go up
and down — often dramatically — many times due
to no apparent reason, has not changed. What has
changed is the unbelievable advancement in communication technology that places every crisis anywhere in the world front and center 24 hours a day.
We live in a world where “breaking news” occurs
virtually every hour. If there is not a crisis now, you
can bet that there will be one, often manufactured,
soon. Finding sponsors to pay for 24-hour cable
news and advertising for an infinite Internet require keeping people’s attention.
For those who remember truly disruptive past
events such as “Black Monday” in October 1987,
when the market dropped more than 20 percent
in one day, and the savings and loan crisis in the
mid-1990s; can you imagine the panic reporting on
cable news of similar events today?
I have become convinced during my 30-some
years in this field that my primary role as an adviser is to help people avoid
making an emotional long-term
SAYS
investment decision based on
the news of that day.
Every day there are dozens
of “breaking news” items that
lead us to believe the end of the
world as we know it is at hand.
Next week, we will find that this
week’s crisis did not bring about
the end, but there are five new
ones that might.
It is very easy to either become
paralyzed, avoid financial decisions altogether or to make poor
decisions based on an emotional
reaction to the crisis of the day.
My job as an adviser is not to
help you consistently outperform the S&P 500 or pick the
“best” investment of the day, or determine the
right time to buy or sell. All advisers have tools and
resources to find good investments.
A good adviser helps you build a portfolio and a
plan that makes sense for you, and walks with you
to keep you focused on the road ahead regardless
of whatever the current world-ending crisis might
be.
Studies have shown that individual investors as
a group experience significantly lower investment
returns than those of the general market indexes.
I believe that result is largely due to the natural
inclination to allow emotions to drive decisions.
A good adviser helps you keep emotions out of
your investment decision-making. That function,
when performed successfully, is well worth the
price you pay for professional advice.
A good adviser helps
you build a portfolio
and a plan that makes
sense for you, and
walks with you to
keep you focused on
the road ahead.
Continued from page 13
events but counterbalance the extra caloric intake with an extra
workout for the week.
BYOV
Bring your own vegetables: Instead of bringing Christmas
cookies or pie, bring a healthy salad or low-calorie vegetable
dish. Fill your plate with the main course and your side dishes
to know you’re eating healthy.
ENJOY HOLIDAY FOOD YOU DO EAT
When you are faced at work, home or social gatherings with
extra holiday foods, pick what you like and then enjoy it. Remember that moderation is the key.
CONSIDER A BUDDY
Sometimes having a friend looking over your shoulder helps
you to stay on track. Link up with a friend or family member
who you can check in daily to discuss your healthy choices.
MIND CHECK
Focus on your personal reason for celebrating the holiday
season — remembering that it’s not all about the food will help
you to relax.
BIZTIMES POLL
bizTimes.biz, Dubuque, Iowa, December 2013
Create a new
look for your
business!
This month’s
poll question
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BIZTIMES.BIZ
The November poll hosted by
Biztimes.biz asked: What kind of
smartphone do you have?
The options were: iPhone, Android, Microsoft and BlackBerry.
The results:
• IPhone: 29 percent.
• Android: 43 percent.
• Microsoft: 14 percent.
• BlackBerry: 14 percent.
This edition’s question: Do you
exchange gifts with your co-workers or supervisor? Deadline to respond is Dec. 15.
15
BIZ LOCAL
Dubuque native and award-winning
hair and make-up artist Paul Palmer,
who has more than 33 years of experience in the industry, has opened Palmer Hair Design.
Grove Suites,
It is located at Center Grove
Dubuque.
Prior to his return, he worked for 21
years in the Des Moines area, where
his professional achievements
m
e n t s i n c l u d e d tthe
he
start-up and operation
of Salon and Day Spa by
Palmer. His work there
earned
ear
ned the Salon and
"Best of Des
Day Spa “Best
Moines" by City View
Moines”
Magazine and Business
i
Publication for two conPa
mer
Palmer
secutive years.
Throughout his career
he has worked with regional and national talent agencies to style talent for
beauty
photo shoots, movie sets and beauty
He will
pageants across the country. He
continue his work as a talent scout in
Model
conjunction with International Model
and Talent Association.
561044-01A(12BIZ13
PALMER HAIR
HAIR
DESIGN OPENS