March 2006

Business Success Journal

"Strong businesses and good jobs are essential to a community's economic viability."

 

In This Issue

Click on the "Quick Links" below to view each section.

What is a High Potential Business?

FOUNDATION HELPS LOCAL DOOR MANUFACTURER 

ceo peer council

New Foundation Business Partners

  • Loan Partners

  • High Potential Clients

Marcia Haley, Business Lending Coordinator

Up-coming training opportunities & events

  • Is Starting a Business Right for You?

  • How to Write a Business Plan?

  • Upcoming Bio Conference

How Can You Support Business Success in Southern Minnesota

 

What is a High Potential Business?

Southern Minnesota Initiative Foundation partners with "high potential, high return" companies that are committed to maintaining and growing their business in the region. In a competitive market, our business development staff looks for management teams that distinguish themselves from their competition, are innovative, ready to navigate through internal and external changes and prepare to build on their core areas of excellence and competitive advantage.  The High Potential Program is The Foundation’s premiere effort to invest in and retain southern Minnesota businesses that have shown innovation and a commitment to the area.

Southern Minnesota Initiative Foundation is inviting new nominations and inquiries for the High Potential program. Visit http://www.smifoundation.org/business_development.html to learn more, or contact Trixie Golberg at trixieg@smifoundation.org

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Foundation Helps Local Door Manufacturer

Door Engineering from Kasota, MN is one such High Potential business. This company manufactures custom design doors for industrial, fire, aviation, and commercial installations. With 40+ employees, the company is focused on customer driven demands and seeking to move beyond passive to active marketing.

“Through the HiPo program, The Foundation offered us the insight, support, resources and commitment needed for the successful attainment of our strategic action plans,” said Steve Saggau, President of Door Engineering. “This continued commitment,” he added, “will go far in supporting the expansion and diversification of business at Door Engineering.” Reflecting on working with The Foundation’s business development staff, Steve had this to say: “The staff has been very supportive and committed to our growth. This has been especially evident with the change of ownership and with having new senior leadership. The Foundation’s dedication to continued support, with both its internal resources as well as those from Minnesota Technology, has been invaluable in Door Engineering realizing significant operational improvements.”

 

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Steve Saggau, President of Door 
Engineering, recognizes the 
contribution of the High Potential 
program in the expansion and 
diversification of their business.

 

CEO Peer Council 

In January, Southern Minnesota Initiative Foundation brought together eight high energy, successful CEO’s to form a unique CEO Peer Council for High Potential Business Program clients. The Peer Council convenes monthly and provides the CEO’s with a regular opportunity to review key business strategies and receive support in achieving their long term goals. Council members reinforce the work done during and following their High Potential program involvement, and the accountability between members provides a unique peer advising atmosphere. In addition to interactions with other CEO’s, The Foundation connects members to a network of experts on various management topics. Minnesota Technology’s Vicki Prock serves as facilitator and session planner for the group.

Top from left: AI Clark, President, Danville Signal Processing, Cannon Falls; Steve Saggau, President, Door Engineering, Kasota; Judy Hoff, CEO, HealthCare Academy, Henderson; Gary Noble, President, DiaServe, Blooming Prairie; Kevin Betts, General Manager, CAB Construction, Madison Lake.

Bottom from left: Todd Zehnder, President & CEO, Northfield Automation Systems, Northfield; Jena Thompson, Founder & CEO, Daisy Blue Naturals, Albert Lea; and Scott Kubicek, Owner, Advantage Cabinets, Owatonna.

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New Foundation Business Partners

Loan Partners:

Southern Minnesota Initiative Foundation is pleased to assist the following businesses with financial capital for business start-ups and expansions:

  • LeRoy Products Corporation (LeRoy) - To support expansion of a contract manufacturing company producing electronic circuit board assemblies. (Local partner: First State Bank of LeRoy)

  • Auscon Inc (Austin) - To support expansion of a contract electro-mechanical assembly manufacturing company. (Local partner: Development Corporation of Austin)

  • Craftsman Cabinetry LLC (Kasson) - To support expansion of a cabinet construction business. (Local Partner: Americana Community Bank in Medford)

  • Anytime Fitness of Springfield ( Springfield ) – To support startup of a 24/7 fitness center. (Local funding partners: F & M Bank in Springfield and the City of Springfield)

  • DiaServe (Blooming Prairie) - To finance equipment purchase for improved production operations.

High Potential Clients:  

Southern Minnesota Initiative Foundation is pleased to be working with the following "high potential, high return" companies that are committed to maintaining and growing their business in the region:

  • Faribault Dairy (Faribault) - Produces American blue cheese and Gorgonzola cheese in a genuine St. Peter sandstone cave.

  • Valley Design Enterprises (Fountain) - Metal fabrication and powder coating business.

To learn more about this business growth opportunity visit http://www.smifoundation.org/business.html

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Marcia Haley, Business Lending Coordinator

Hi!  I’m Marcia Haley and I am starting my second year as the Business Lending Coordinator at Southern Minnesota Initiative Foundation.  I work primarily with the Small Enterprise Loan Program, helping businesses in our 20 county area that are engaged in manufacturing, retail, service or child care/elder care.

I grew up in Montevideo, MN where my parents own a garden center.  They are celebrating the 100th year of our family (Hemstad) being in the greenhouse business.  I attended St. Olaf College in Northfield for 2 years before transferring to the University of MN where I graduated with a degree in Agricultural Business Administration.  My husband, Jerry, is a farmer. We have one son, Andy, who is in 4th grade, and we live on our farm outside of Waseca. I am active in the Waseca area and serve on the Waseca-Le Sueur Regional Library Board of Trustees and the Home and School Association for Sacred Heart School.

 

With 13 years of banking experience and a broad business background, I am involved in various business organizations, such as AMME (Alliance for Minnesota Microenterprise) and EDAM (Economic Development Association of Minnesota). Small businesses are important to southern Minnesota and I take pride in being a part of the work that The Foundation continues to accomplish in the region.  

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Up-coming Training Opportunities & Events

IS STARTING A BUSINESS RIGHT FOR YOU?

The following topics will be discussed:

  • Is Entrepreneurship Right for You

  • How to Register a new Business

  • How to Create a Marketing Strategy

  • How to Identify and Research the Market

  • How to Prepare to Meet Your Lender

When: May 2, 2006 from 6:30 – 8:30 PM.

Where: The Waseca Junior High school in room C133. 

Register after April 1, 2006 at Waseca Community Education, 501 E Elm Ave, Waseca, or call 507/835-5626.  No Fee.

 

HOW TO WRITE A BUSINESS PLAN? 

The following topics will be discussed:

  • What your business plan should include

  • How to do financial projections

  • How to do market analysis

When: May 24, 2006 from 6:30 – 8:30 PM.

Where: The Waseca Junior High School in room C133.

Register after April 1, 2006 at Waseca Community Education, 501 E Elm Ave, Waseca, or call 507/835-5626.  No Fee.

These classes will be presented by Tom Shea, Business Development Coordinator at Southern Minnesota Initiative Foundation.  

 

 

Upcoming Bio Conference - Save The Date

Second Annual Southern MN Bioscience Technologies Symposium
Where Entrepreneurs and Innovators Converge!

Wednesday, April 5, 2006
8:30 a.m. - 3:00 p.m.
Minnesota State University, Mankato

Agenda to include:
Minnesota's BioEconomy, Entrepreneurial Case Studies, Components of Growing a BioIndustry

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How Can You Support Business Success in Southern Minnesota?

We invite you to support growing business success in southern Minnesota by making a tax-deductible contribution to Southern Minnesota Initiative Foundation. To learn more about our giving opportunities, visit www.smifoundation.org/givingopp.html

 

Help us reach others who are interested in business success by forwarding this E-Journal to them. If this message has been forwarded to you and you wish to receive this Business Success E-Journal directly, please email marciah@smifoundation.org. 

Southern Minnesota Initiative Foundation is an equal opportunity lender.

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