Stacey Shipman

During my first month as Executive Director I've enjoyed many conversations with members, prospects and partners.  I keep hearing the same thing:  "I want to make new and better contacts!"

Contacts constitutes one of the Four Cs we promote at SSWBN, the others being Coaching, Collaboration and Community.

SSWBN events provide a starting point to meet new contacts.  To deepen and strengthen relationships you must commit to:

• Follow-up -- Invite a new contact for a walk, coffee or a phone call to follow-up and learn more about them personally and their business. (This is most likely not a sales call.)
• Keep in touch-- Social media (i.e., follow people on Twitter or connect on LinkedIn) is a great way to stay in touch, especially when you're short on time.  Comment on a post or status update, send a message or start a conversation.
• Ask for what you want -- Once you've developed the relationship and feel comfortable, ask for what you want.  Do you need a bookkeeper, lawyer or client referral?  Ask!  At our September breakfast, speaker Hank Phillippi Ryan told us she is where she is today because she got help.  If you need help, please ask. Contact the SSWBN office, ask a trusted member or colleague, or start a conversation on social media.

Halloween After Hours, October 29, Comfort Keepers, Plymouth.  Join us for a spook-tacular time!  What better way to meet new people than in a fun, relaxed atmosphere? No fee RSVP requested. Click here. 

Women's Business Achievement Breakfast, October 31, Linden Ponds.  Come celebrate women in the South Shore community who have made a difference in their community! Register here.

We've also begun planning for 2014 and will have new and exciting opportunities to share in the coming months.  To learn about the exciting details as they unfold, read this newsletter, "like" SSWBN on Facebook, follow SSWBN @thesswbn on Twitter, or attend a live event.

I look forward to seeing you at an event this Fall.

To your success,

Stacey

Stacey Shipman

Executive Director

617-548-5877

sshipman@sswbn.org

Cheryle Brady Ameriprise

Small Business Owners:  think about your personal bottom line

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All of these things are important, but with so much going on, it can be too easy to neglect your own finances.  It's important to think long-term about your business, your personal financial future and how the two impact one another.  As a business owner, you are in a unique position to address both business and personal needs together.  Here are some important areas to consider as you work to keep your personal financial goals on track:

Retirement planning

Business owners typically have much of their money (and therefore their future financial security) tied up in their businesses.  For that reason, it's important to supplement that equity with a separate workplace retirement plan that is invested outside of the business.  Setting up an employer-sponsored savings plan at your business helps your employees build a secure retirement while giving you the opportunity to save in a tax-advantaged way.

Protecting yourself and your business

You take significant risks as a business owner.  One is that the business relies on your continued presence.  It is crucial to determine how your business would keep functioning (and generating income for your family) if something prevented you from overseeing it, such as an untimely accident, illness or premature death.  Also consider the impact it would have on your business if something happened to your business partner or any of your most critical employees.

Providing protection for your family by having adequate life and disability insurance in place is the first step in helping secure the financial stability of your business and your family should something happen to you.  A good policy can provide income for you and your family, and as a business owner, replace lost revenue and provide funds to help keep your business operating in your absence.

Life and disability insurance may also be purchased by your business to protect against an untimely incident affecting a key employee.  So-called "key person insurance" is often considered an important part of a business operation.

Managing cash flow

As a business owner, you should consider maintaining a larger emergency cash fund than what might be required for people who work for a large employer.  This is especially true if your business activity tends to be unpredictable and you are forced to reduce your own income from time-to-time to meet business expenses.  Having a cash cushion in your personal account will help you manage through difficult times.

Moving on from your business

Assuming you ultimately plan to sell or turn over your business to a successor, your goal should be to have a succession strategy in place well in advance.  If you own a family business, there are special considerations and unique ways you can structure a transition plan to your family members.  If you have partners in your business, think about establishing a buy-sell agreement that is funded by insurance.  This allows one or more partners to be in a position to purchase your share of the company at its true value if something should happen to you.

Building personal financial security was probably one of the reasons you started or acquired your business in the first place.  Careful follow-through with a well planned, reasonable transition strategy is a logical step to achieve the ultimate reward from the years you dedicated to your business.  Consider working with a financial professional who can help you develop and evaluate a personal financial plan that keeps your goals and dreams for your small business in mind.

Cheryle Brady, is a Financial Advisor and Associate Vice President with Ameriprise Financial Services, Inc. in Quincy, MA.  She  specializes in fee-based financial planning and asset management strategies and has been in practice for 20 years. To contact Cheryle :  Cheryle.brady@ampf.com, Ameriprise Financial Services, 359 Willard Street, 3^rd Floor, Quincy, MA 02169, 617-691-2167.  http://ameripriseadvisors.com/cheryle.brady     Ameriprise Financial, Inc. and its affiliates do not offer tax or legal advice. Consumers should consult with their tax advisor or attorney regarding their specific situation. Brokerage, investment and financial advisory services are made available through Ameriprise Financial Services, Inc. Member FINRA and SIPC.

© 2013 Ameriprise Financial, Inc. All rights reserved.             File # 717206

  

Lynn Feingold

 Hello everyone!

Lynn

Lynn Feingold

Songs of the Colonial Days 

  

Kim DeGust, Real Estate Professional

 

Congratulations to our president, Stacy Doherty, owner of Errands Etcetera, whom South Shore Stars recognized as a 2013 40 Under 40 Awardee.  Each year the organization honors emerging leaders on the South Shore based on professional accomplishments, community involvement and leadership.  Great job Stacy!

Past SSWBN President Janet LaBerge of Dirty Deeds Done Dirt Cheap and Good Deeds thrift shop was recently featured on Plymouth Access TV (PAC TV) for her "good deeds" Congratulations Janet! Click here to watch the video segment online.

The Weymouth News recently featured Executive Director Stacey Shipman in their "Meet Your Neighbor" column available in the print version.  

What's Your Good News? 

Last month I attended a workshop, "Economic Power of Women and You: How to Embrace Your Personal and Professional Power In Today's Business World," sponsored by South Shore Bank.  Thank you to Jacqueline Hurstak for inviting SSWBN members, and several other SSWBN members.  According to guest speaker Kathleen Burns Kingsbury of KBK Wealth Connection

Please share them with me and I will help you brag right here in a future edition of this column!

Name:  Susana Griffin, Regional lending manager Bank of Canton

Business Name:  Bank of Canton

Address:  Marshfield

How did you come to be in this line of work?

I was in banking and many years ago was introduced to the mortgage side and

 became very interested in this aspect of banking

What are the top three things that separate you from your competition?

Describe your dream/perfect/ best customer.

It would be anyone who is thinking of buying a home, building a new home, refinancing to lower rate, or consolidating debt.  

What changes are happening, or can you predict happening soon, within your industry?

What do you regard as your greatest achievement in business to date?

I have enjoyed this Network and have made some great friends and got some great referrals.

What benefit(s) have you received through your networking efforts?

I enjoyed the people I work with and how we support each other.

What do you do in your spare time for fun?

In my spare time, I enjoy spending time with my three kids, husband, dogs and practicing martial arts.

Thank you for the opportunity to be part of this great group of people!