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Serving Arizona, Colorado, New Mexico and Wyoming
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Lessons From Lindgren:
Thinking of Selling?
At some point, every business owner thinks about selling. The first question is - what is my business worth and the second is - who should I sell it to?
The questions are intertwined because the value is what someone would pay for it and their value is a function of who they are - existing parallel firm, independent investor, print broker with sales but no production capability, etc.
It's central to understand that what's being sold is the future, not the past. The financial statements are of interest only to the extent that they may suggest the future. Some key questions: are sales concentrated in a few clients or a broad base? How solid are the major client relationships? Are the clients growing or shrinking? Who are the significant competitors? Is the technology changing?
Once we get these answers, we need to think about potential buyers: will the buyer be able to leverage the status quo by bringing in additional volume or produce the existing work in their plant thus improving the profit of the selling firm? Will the buyer be able to retain the client base and sales volume? Once a buyer is on board and there is an understanding about value, it's important to realize that unlike selling your home, a business is not a hard asset - it's a bet on the future. As a result, expecting cash on close will sharply reduce the amount that can be obtained. It's more realistic to incorporate seller financing (payments over time) into the deal and making part of the price contingent on retained sales (seller gets x% of sales for y years).
If the selling firm owns its own building or significant pieces of equipment, it's useful to separate these from the sale of the business - if the buyer wants them, they are extra.
Bob Lindgren is the President and CEO of Printing Industries Association of Southern California, the largest affiliate of PIA. Mr. Lindgren has more than 40 years of experience in the industry and is an expert in the area of print finance.
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Lead Your Team
When you're leading a team focused on innovation, you want to spark creative thinking in every member.
Try these strategies used by successful leaders in every industry:
Build a community. Look inside and outside your organization for enthusiastic, imaginative thinkers. Use your network to recruit people to your team, brainstorm ideas, test prototypes, and critique results.
Experiment. Don't put all your eggs into one basket. When you come up with an interesting idea, test it on a small scale first. Encourage lots of experiments to find one or two that produce excellent results.
Tell stories. Charts and data aren't very inspiring. To get creative juices flowing, share stories about people and problems. Find out what your customers want and what solutions would make them smile. Recount flashes of genius from the past. You'll get people thinking about the possibilities instead of the obstacles.
Source: First Draft.biz
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Become Certified As An Improvement Professional In Print
You're a professional dedicated to improving processes in your organization. You operate with an eye on the goals of increasing customer satisfaction, speeding production and reducing costs. Maybe you manage your organization's formal quality improvement program or perhaps there isn't one but you have contributed toward improving processes that have made a real difference in the company. You are, in short, a devoted practitioner of continuous improvement. Printing Industries of America believes such dedication should be recognized. So it developed the Improvement Professional in Print (IPP) certification program to validate the expertise of printing industry professionals who help companies achieve operational excellence by using the concepts of Lean Manufacturing and other management and quality systems. Are you an Improvement Professional in Print? PIA's exclusive IPP Certification training and exam is now available. Make sure you register first. Questions? Please contact Julie Shaffer at 1-800-910-4283, ext. 730.
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Be Prepared When Customers State Print Myths
When clients say they are avoiding print because it's a big contributor to landfill waste, politely set them straight. - 65.4 % of paper consumed in the US was recovered for recycling in 2014.
- Papermaking fibers can typically be recycled 5 to 7 times before they become too short to be recycled again
- From 2000 to 2013, the percentage of paperboard as municipal solid waste declined from 28.8 percent to just 15.1 percent. In comparison, plastics now account fro 17.7 percent and food waste 21.1 percent
- The use of recycled paper is one of the many green options that print provides.
These are just some of the statistics available through the WSPA-endorsed Choose Print campaign. The goal of the campaign is to promote the effectiveness of print and to reinforce the fact that print on paper is a recyclable, renewable, and, thus, sustainable environmental choice. And the effort is working as we continue to reach out to designers, print buyers, and purchasing agents. The latest addition to this multi-faceted program is a six-part "Be Prepared" poster series aimed at you, the printer. It will give you strong, fact-based responses to address common objections you hear about print. Access and print these posters and print them prominently in your workplaces and certainly to your sales team. CLICK HERE for the artwork to print. |
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Save Thousands With FedEx
As a member of WSPA and Printing Industries of America, you are eligible for special member benefits to help you save money on the products and services you need, including special discounts on select FedEx® services.
The average member saves over $650 on parcel shipments and over $3,800 on freight shipments (LTL) annually.
Take advantage of FedEx savings and save up to: - 26% on select FedEx Express® U.S. services.2
- 18% on select FedEx Express international services.2
- 15% on select FedEx Ground® services.2
- 70% on select FedEx Freight® services.2
CLICK HERE for program details. This will take you to the member savings page. For Passcode, enter DH737Z. For Membership number, enter 00000. From there, you will be taken to a screen to select the FedEx discount you are interested in (Express, Ground or Freight).
Questions? Feel free to contact Beatrice Castillo at 1-888-370-3972 or beatrice.castillo.osv@fedex.com.
Make sure you identify yourself as a PIA member.
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How To Say No
You can't say yes to every request from your employees - or even your boss. But saying no is never simple. You don't want to alienate anyone even though you have valid reasons for not doing what they want. Here's how to say no with a positive outcome:
Say no clearly. Don't duck confrontation no court confusion with vague language like, "I don't know about that," or "I'll have to see." State your position unmistakably: "No I can't do that."
Explain your reasoning. Most people will accept your refusal if they understand what's behind it, but they don't like being stonewalled. Use your explanation to inform, instruct, or remind them of your priorities. Spell out the policies or obstacles that make your rejection necessary. Go through the business needs behind policies and rules, or refer the employee to a good source of information.
Offer options when possible. You may be closing off one avenue with a negative answer, but look for alternatives. For example, you may have to deny time off during a busy period or tun down a bid for promotion if the employee needs more skills. But you may be able to offer other days off or a way to develop those skills to position the employee for future advancement. make your "no" the start of something positive.
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Do you suffer from shiny object syndrome, the tendency to get easily side-tracked by the slightest interruption?
Or do you find yourself repeatedly lamenting that there aren't enough hours in the day to get tasks done?
You might benefit from the Pomodoro Technique, a simple approach to time management. The idea is to work in focused sprints (called pomodoros), traditionally 25 minutes in length, separated by short breaks of five to 10 minutes.
While the sprints help shut out distractions, the breaks keep the mind fresh and fast.
Francesco Cirillo developed the method in the 1980s. naming it pomodoro, the Italian word for tomato, after the tomato-shaped kitchen timer he used to manage his time as a university student. Today the kitchen timer has been replaced by various apps, both free and paid, with varying levels of functionality.
Check out the free and simple Pomodoro Time app at www.tinyurl.com/pomodorotime.
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A Guide To The Social Media Jungle
Social media is a critical tool for promoting your content and growing your audience, bit it can be hard to stay up-to-speed on this quickly evolving landscape. Social Media Examiner, "Your Guide to the Social Media Jungle," offers two podcasts to help you do just that. The show offers the latest news and guidance jam-packed into daily 10 minute episodes (who doesn't have 10 minutes a day to learn more about social media marketing?). The weekly Social Media Marketing podcast, hosted by organizational founder Michael Seltzner, features 45-minute interviews with industry pros. Visit www.socialmediaexaminer.com/podcasts.
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Time To Hit the Links!
The dates are set for WSPA's golf tournaments in Denver and Phoenix. DENVERWSPA will return to the Heritage Eagle Bend Golf Club on Friday, September 9th.Described by Golf Digest, as "one of the best places to play in Colorado," the Arthur Hills designed course is a links-style 18-hole championship course that makes use of dramatic elevation changes, native areas, panoramic views and wide, accommodating fairways to appeal to players of all levels. Tickets are only $125 and include greens fee, golf cart and lunch. Foursomes and individual tickets will sell out fast so be sure to sign up ASAP. Don't golf? Join us for lunch for just $25. Interested in sponsoring the tournament? Contact Golf Committee Chair Sandi Neuman of Vision Graphics at 303-909-7410 or sandi.neuman@visiongraphics-inc.com. SPONSOR DENVER TOURNAMENT
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PHOENIX The Phoenix Golf Tournament will return with a vengeance on Saturday, October 22, 2016 at the stunning Arizona Grand Golf Resort.
Join colleagues and friendly competitors from the industry for a day of fun on the links followed by the Par-Tee on the Green, where bragging rights will be on display and awards presented.
Tickets are only $99 and include greens fee, golf cart, lunch and two drink tickets. Foursomes and individual tickets will sell out fast so be sure to register as soon as possible!
Last year the tournament sold out quickly so book your foursomes early! Sponsorship Opportunities
Interested in sponsoring the tournament? There are numerous opportunities still available including individual hole sponsorships - many helping to support future GCEF Scholarships. Title Sponsorship ($5,000) - Have your company's name on all marketing pieces for the event with exclusive sponsorship rights "Partee on the Green presented by..." - 2 complimentary foursomes
- 2 minutes to present at event
- Company name on golf shirts
- One hole sponsorship
Platinum Sponsorship ($3,000) - 2 complimentary foursomes
- Signage, choice of (pick which item you want your name on) gall balls, golf towels, water bottles
- One hole sponsorship
Gold Sponsorship ($1,500) - 1 complimentary foursome
- Hole sponsorship (pick one of the contest holes) Men's long drive, Women's long drive, Men's Closest to the Pin, Longest Putt
Silver Sponsorship ($1,000) - 1 complimentary foursome
- One hole sponsorship
- Combined lunch sponsorship
Hole Sponsorship ($275) - Signage at either the tee box or the green
All sponsorships include signage at the event plus recognition in program and on website. Email current HIGH RES LOGO in jpg, eps or vector format. In-kind raffle prize donations are also welcome.
For details contact tournament chairman Gary Matchinsky at 480-829-8890 or garym@bctarizona.com.
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Weekly Photo Feature:
Are you Kidding Me?!
Each week, E-Connects shares incredible photos on just how lax individuals can be when it comes to safety. Some pictures showcase carelessness, others plain stupidity. The goal - to keep a safe work environment front and center on the minds of all of your employees. Pictured: Stunned.If you come across a funny safety pic you think should be featured, email Michael Makin at mmakin@wsprint.org. |
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Toll Free Hotline
Don't forget that as a member of Western States Printing Alliance (WSPA) you have free access to the Technical Hotline of Printing Industries of America.
The hotline fields more than 1,500 calls a year from members seeking assistance. Experts are just a phone call away at 1-800-910-4283!
The hotline can also be used for your questions relating to HR or EHS issues.
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Quote For The Week
"It is not easy, but you have to be willing to make mistakes. And the earlier you make those mistakes, the better."
Jane Cahill Pfeiffer
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