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Issue 5 February 2010 
News You Can Use From Your SBDC
Galveston County - SBDC Newsletter
Welcome to the fifth edition of our online newsletter! We hope that you enjoy reading about our exciting happenings this year, and we hope to see you soon!  
 
 
 

 
   Head to Footsies
 
 
 Head to Footsies Opens
Bigger and Better after Ike
 
 
Joyce Calver first came to the GCSBDC in April of 2009.  Joyce had been the co-owner of the very successful "Footsies" shoe store located on the Strand in Galveston. The store was severely damaged by Hurricane Ike in 2008. All of the inventory, fixtures and equipment were destroyed.  Joyce was debating whether to reopen the store when she first came to the GCSBDC.
 

Joyce met with SBDC consultant, Andrea Cortinas, and together they began work on a business plan for a new store.    Joyce decided to expand the store to include women's clothing as several clothing stores in the area were not returning.  Using her past sales history as a starting point, they projected the new store's sales adjusting for the new clothing lines. They also worked on several scenarios for different locations and levels of sales, since it was not known how much business the Strand district would recapture after the storm.

After several sessions, the business plan was complete and Joyce felt confident about moving forward with the new store. Head to Footsies officially opened in October 2009 at 2211 Strand in the historic Old Galveston Square Building in downtown Galveston.  Since opening in October, Head to Footsies has consistently beat its projected sales by almost double.

 The new store now features more than 45 different lines of shoes, including Madeline Stuart, J Renee, Kenneth Cole, Kenneth Cole Mens, and Terrasoles, a green product.  Head to Footsies also carries fabulous fashion, sizes extra small to double extra large-equally cherished so that everyone can feel beautiful in her products.  Clothing ranges in price, and includes Myra Pac, IC Collection, Sassy Bax, Lindi, Abbie Mags, and Eileen Fisher.  Eveningwear or special occasion dresses are by Tony Bowls Designs and Elliza J.

Another unique feature at head to Footsies is the "man's corner" for the men who have to wait for their ladies to shop.  This area offers leather lounge chairs and a television to entertain anyone who prefers to wait in comfort while their companion browses all that the store has to offer.  Joyce says she wants everyone to enjoy the shopping experience at Head to Footsies, and will go out of her way to make sure her store is inviting to everyone, even if it means tuning the TV to broadcast sports. 

Be sure to visit Head to Footsies soon to see its brand new look and create your own new look as well.  The shop is located at 2211 Strand or call 409-762-2727

 
 

Why Passion and Heart beats Grinding the Numbers

 by Neil Ducoff
 

In the daily grind of competing in a predatory economy, driving the numbers can override the most potent success factors - passion and heart. Passion and heart drive the numbers. Passion and heart win championships. Passion and heart not only achieve goals - they are the energy that surpasses business goals.

If "all about the numbers" has become your leadership mantra, your best intentions may be sapping the life out of those you lead. Consider the following no-compromise strategies to put the energy of passion and heart behind the numbers you so desperately want to achieve:

  • What is the passion and heart of your business? You and your employees get out of bed and go to work every day. Why? If it's just to get a paycheck, it's a sure bet that passion and heart are in short supply. I get out of bed every day and go to work to help business leaders survive and thrive in these crazy times. When leaders see nothing but gloom and doom, I help them see and move toward daylight. Does the work of your company serve the greater good? Does it make someone's day? Does it provide solutions? Whatever it is, put it on a pedestal and shine a spotlight on it, so you and every member of your team can see and feel why your business exists.
  • Cheer, celebrate and awaken your company's passion and heart. Money may be tight. The bills may be piled high. The funk of missing a goal may have deflated company morale. It may even feel as though your employees are plotting a mutiny. If you think announcing that the numbers need to get better, and get better fast, is going to ignite the passion to win, you need to snap out of it. What would happen if the equivalent of a marching band playing "Stars and Stripes" paraded through your company? Remember as kid how you could feel that big bass drum beating in your stomach? Wake up your team with an overdose of cheering and celebrating. Throw some Jiffy Pop in the microwave. Play with noisemakers. Open the window and let the fresh air in and the gloom and doom out. Have some fun.
  • Be with your people. Smile. Make eye contact. Ask employees how they're doing. Listen to each one as if both of you are the only two people left on earth. Stop being so stingy with your positive reinforcement and say "good job." Let them see the real you inside and show them that you care about them, their concerns and their wellbeing.

Rekindle the passion and heart that most certainly does exist in your company. It's there even in the darkest times. If you do, you'll find that even the loftiest goals are within your reach.

Pass this email on to your business colleagues, managers and friends.

Neil Ducoff, Strategies founder & CEO

Tags: leadership,management,Neil Ducoff,no-compromise,No-Compromise Leadership


 

AND NOW, A WORD FROM OUR DIRECTOR...
 
The
 Directors Corner 
 

It's that time of the year again...time to start preparing your business and personal tax returns.  Many of us will wait until March or April, but the real work of preparing your tax return really begins in January.  In January, it is time to set up your filing and record keeping systems so that you will not be stressed out when tax time rolls around next year.  The key to tax preparation is good record keeping.  Here are a few suggestions for your record keeping program:


 Small Business Owners

If you are a small business owner, you must keep all your employment tax records for at least four years after the tax becomes due or is paid, whichever is later. Examples of important documents business owners should keep include:

  Gross receipts: Cash register tapes, bank deposit slips, receipt books, invoices, credit card charge slips and Forms 1099-MISC

  Proof of purchases: Canceled checks, cash register tape receipts, credit card sales slips and invoices

  Expense documents: Canceled checks, cash register tapes, account statements, credit card sales slips, invoices and petty cash slips for small cash payments

  Expense documents: Canceled checks, cash register tapes, account statements, credit card sales slips, invoices and petty cash slips for small cash payments

  Any other records to support deductions or credits you claim on your return
Individuals

Individual Tax Payers

Individual taxpayers should usually keep the following records supporting items on their tax returns for at least three years:

  Bills

  Credit card and other receipts

  Invoices

  Mileage logs

  Canceled, imaged or substitute checks or any other proof of payment and awareness, strengths and weaknesses

  Any other records to support deductions or credits you claim on your return

For more information about recordkeeping, check out these IRS Publications:

Pub
552, Recordkeeping for Individuals
Pub
583, Starting a Business & Keeping Records
Pub
463, Travel, Entertainment, Gift & Car Expenses

These publications are available on the IRS Web site,
www.irs.gov or by calling 800-TAX-FORM (800-829-3676).

We welcome any suggestions you may have for our newsletter.  We invite your comments and we look forward to hearing from you soon.
 
Sincerely,
 
Susan Moore
Director 
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UNIVERSITY OF HOUSTON SMALL BUSINESS DEVELOPMENT CENTER NETWORK

The Galveston County SBDC is a business consulting and training center of the University of Houston Small Business Development Center Network.  The UH SBDC Network serves 32 counties in Southeast Texas and is funded in part through a cooperative agreement with the U.S. Small Business Administration. 



In This Issue
Head to Footsies Success Story
Why Passion and Heart beats Grinding the Numbers
Director's Corner

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Galveston County Small Business Development Center

8419 E.F. Lowry Expressway

Texas City, TX 77591

(409) 933-1414

(409) 933-3365 fax

[email protected]