Prairie Business March 2011

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<ul><li><p>www.prairiebizmag.com</p><p>Low stress in Aberdeen pg. 28</p><p>Hebron Brick Company Bricks across America pg. 16</p><p>www.prairiebizmag.com</p><p>PRSRTSTD</p><p>U.S.PostagePaid</p><p>Fargo,ND</p><p>Permit#684</p><p>PRAIRIEBUSINESSMAGAZINE</p><p>POBOX6008</p><p>GRANDFORKS,ND58206-6008</p><p>CHANGESERVICEREQUESTED</p><p>PRSRTSTD</p><p>U.S.PostagePaid</p><p>Fargo,ND</p><p>Permit#684</p><p>PRAIRIEBUSINESSMAGAZINE</p><p>POBOX6008</p><p>GRANDFORKS,ND58206-6008</p><p>CHANGESERVICEREQUESTED</p><p>HIGHEREDUCATIONHigher Ed and businesses working together pg 28</p><p>MARKETINGWhats Next (in Technology?) pg 34</p><p>TECHNOLOGYFinding a Company thatBest Fits your Needs pg 26</p><p>LEADERSHIPCreating and Sustaining</p><p>Change pg 16</p><p>MONEYWhat is the Velocityof Money pg 59</p><p>pg 48</p><p>SALES/MARKETING5 Rules for Branding</p><p>in the Digital Age pg 22</p><p>ECONOMIC DEVELOPMENTThe Value of Higher-Wage Jobsin the Local Economy pg 24</p><p>March 2011</p><p>BUSINESS LAWIntellectual Property pg 38</p><p>Community Spotlight:Young West Fargo community</p><p>growing quicklypg 42</p><p>Company Spotlight:TEAM Industries</p><p>pg 18</p></li><li><p>4 Prairie Business March 2011</p><p>Volume 12 No. 3CONTENTS</p><p>18</p><p>28</p><p>3438</p><p>42</p><p>6 From the Editors Desk</p><p>8 Women in Business</p><p>8 Matthew Mohr</p><p>10 Prairie News</p><p>14 Prairie People</p><p>16 Leadership and ManagementCreating and Sustaining Change</p><p>Company Spotlight: TEAM IndustriesTag line is driving innovation - Innovation has kept TEAM</p><p>Industries alive when others have folded after the nations</p><p>recession ended.</p><p>20 Question/AnswerStimulating the economy to keep students at home</p><p>22 Sales/Marketing5 Rules for Branding in the Digital Age</p><p>24 Economic DevelopmentThe Value of Higher-Wage Jobs in the Local Economy</p><p>26 TechnologyFinding a Company that Best Fits your Needs</p><p>Cover Story: Higher EducationHigher Ed and businesses working together Higher Ed</p><p>institutions are building relationships with different</p><p>businesses to both improve programs and also provide</p><p>workforce needs for the businesses in this relationship.</p><p>Cover Story: MarketingWhats Next (in Technology?) Marketing groups have to</p><p>even be more creative in helping businesses handle a hefty</p><p>appetite for information.</p><p>Cover Story: Business LawIntellectual Property: Identifying Business is</p><p>important decision</p><p>40 Dakota RisingAssisting rural entrepreneurs</p><p>Community Spotlight: West Fargo, NDYoung West Fargo community growing quickly</p><p>56 Investing in Trade to the North</p><p>58 Viewpoint</p><p>59 MoneyWhat is the Velocity of Money and How Does it Impact</p><p>Home Loan Rates?</p><p>62 By the Numbers</p><p>Companies serious about (coal)reclamationTraveling throughout North Dakota, many would never</p><p>know that certain areas were once coal mining operations.</p><p>And that is just what state officials are hoping coal</p><p>reclamation is able to accomplish.</p><p>More oil could mean less outmigrationMore oil being pumped out of the Bakken could mean that</p><p>the state could see the population growth reversing the 70-</p><p>year trend of outmigration.</p><p>Next MonthIn April, Prairie Business magazine will showcase Women in Business, as well as discuss</p><p>how manufacturing is making a comeback and point out why LEED design might be costly</p><p>up front, but might be worth the cost down the road.</p><p>On the airJoin Prairie Business magazine Editor Alan Van Ormer and host Merrill Piepkorn on</p><p>Tuesday,March 8 at 3 p.m. on any Prairie Public radio station to hear more about theMarch</p><p>cover story. To listen to Prairie Public, visit www.prairiepublic.org/radio/hear-it-now.</p><p>48</p><p>52</p></li><li><p>RECRUITMENT!RETENTION ~RESULTSDIV I S ION OF VOCAT IONAL REHABI L I TAT IONRecruitment &amp; Retention ADA Resources Assistive Technology Rural Services</p><p>DISABILITY</p><p>for more information visit</p><p>nd.gov/dhs/dvr/or call us at</p><p>1(800)755-2745a partner</p><p>in</p><p>reliability.</p><p>In times of low unemployment, business cannot afford to lose keypersonnel. Should a highly-skilled, productive employee incur a disability,business owners and employers need to know that they have resources attheir disposal to help keep that person on the job. What DVR can bring tothe table for business can have a positive impact on the bottom line.</p><p>Our featured services are not just employment driven, they camhelp business access a growing market segment.</p><p>~ Harley D. Engelman, DVR Business Relations/Marketing Director</p></li><li><p>6 Prairie Business March 2011</p><p>Mike Jacobs, PublisherAlan Van Ormer, EditorScott Deutsch, Sales ManagerTina Chisholm, Production ManagerBeth Bohlman, Circulation ManagerKris Wolff, Layout Design, Ad Design</p><p>SSAALLEESS MMAANNAAGGEERR//NNAATTIIOONNAALL AACCCCOOUUNNTT SSAALLEESS::Scott Deutsch 701.232.8893</p><p>Grand Forks/Fargo/Moorhead/northwestern MN</p><p>SSAALLEESS::Brad Boyd 800.641.0683</p><p>Bismarck-Mandan/ west central ND/north central SD</p><p>John Fetsch 701.232.8893Fargo/Moorhead/eastern ND/western MN</p><p>Jeff Hanson 605.271.4446Sioux Falls/southern SD/southern MN</p><p>EEDDIITTOORR::Alan Van Ormer 701.232.8893</p><p>avanormer@prairiebizmag.comEEddiittoorriiaall AAddvviissoorrss::Dwaine Chapel, Executive Director, Lake Area Improvement Corporation;Bruce Gjovig, Director, Center for Innovation; Lisa Gulland-Nelson,Communications Coordinator, Greater Fargo Moorhead EDC; Dave Haan,Director of Public Relations and Digital Development at Lawrence &amp;Schiller; Dusty Johnson, Chief of Staff for South Dakota Gov. DennisDaugaards office; Brekka Kramer, General Manager of Odney; MatthewMohr, President/CEO, Dacotah Paper Company; Nancy Straw,President, West Central Initiative</p><p>Prairie Business magazine is published monthly by the Grand ForksHerald and Forum Communications Company with offices at 8083rd Ave. S., Ste. 400, Fargo, ND 58103. Qualifying subscriptionsare available free of charge. Back issue quantities are limited andsubject to availability ($2/copy prepaid). The opinions of writersfeatured in Prairie Business are their own. Unsolicited manuscripts,photographs, artwork are encouraged but will not be returnedwithout a self-addressed, stamped envelope.</p><p>Subscription requests:Free subscriptions are available online to qualified requestorsat www.prairiebizmag.com.</p><p>Address corrections:Prairie Business magazine PO Box 6008 Grand Forks, ND 58206-6008 bbohlman@gfherald.com </p><p>Online: www.prairiebizmag.com</p><p>Clarification: The photo on page 32 of the Februaryissue is a facility near the Tesoro Corp. oil refinery, however, itis actually a power plant located just north of the refinery.</p><p>An SBA Award Winning Publication</p><p>For daily business newsvisit prairiebizmag.com</p><p>What was even more prevalent was the enthusiasm that thesebusiness leaders show when talking about their company orbusiness. </p><p>I know that everything isnt peaches and cream and there arebusinesses and people that are just getting by from pay check to paycheck. But I do believe that if these people had a chance to just sit downand talk to the people that are enthusiastic about their job and business,it will brighten their outlook just a little bit. And that is a good thing.And hopefully that is what will happen when you read the cover</p><p>stories in this issue about higher education and marketing. There isexcitement in the relationships that these groups have with each other;be it our higher learning institutions and the businesses theycollaborate with or marketing and advertising agencies and thecompanies they do their best to get the word out about. I think, moreimportantly, both groups enjoy the challenge of developing cutting edgeprograms that benefit our region.These people just do not quit!And that is what is going to keep Minnesota, North Dakota, and</p><p>South Dakota moving forward into the future. That is also why we didnot feel the pain of the recession as much as most of the remainder ofthe country did. People in this region do what they do best keepplugging away trying to make things better for the next crew that takesup the torch!</p><p>As I was sitting at my computer the other day thinking about what Iwanted to say at a Fargo Rotary Club meeting in February, the firstthing that came to my mind was many of the success stories that Ihave heard about in my travels around the region. And that wasevident once more during our monthly radio program with PrairiePublic entitled Hear It Now. </p><p>From the editors desk</p><p>Abundantenthusiasm!</p></li><li><p>8 Prairie Business March 2011</p><p>If Nancy J. Libersky didnt have the patience and goodlistening skills, her job as the Minnesota DistrictDirector for the U. S. Small Business Administration</p><p>would be just that much tougher.On a normal day, I receive important information</p><p>from many different directions whether in person,telephone or email, and while trying to retain thisinformation it is important to learn to categorize, shesays. Otherwise, you would be completely overwhelmedand not be able to put one foot in front of the other.Libersky has been the Minnesota District Director for</p><p>almost one year. She has worked with the United StatesSmall Business Administration for 21 years. She started inColorado, but for the past 17 years has been workingpredominately with the international trade programs asRegional Manager for International Trade Programs inMinneapolis, MN.The SBA provides loans, loan guarantees, contract,</p><p>counseling sessions, and other forms of assistance to smallbusinesses through its four programmatic functions:</p><p>access to capital, entrepreneurial development,government contracting, and advocacy.Because she enjoys management, Libersky feels her</p><p>current job is a perfect fit. I have worked hard to obtainmanagement skills and learn from the best, she says. Ifeel very fortunate that I have been able to work withsome highly skilled managers who have taught me how tomanage.The major challenge is fulfilling requirements with a</p><p>smaller staff. As our office becomes smaller and smaller, itis very hard to cover our outreach, training, organization,and networking, she states.One of her enjoyments as the Minnesota District</p><p>Director is working with a struggling small business ownerwho is ready to quit and to be able to share her expertiseand see the business grow. People put their heart, soul,and money into their efforts, but need that little extraadvise and knowledge to get them through, sheexplains. PBAlan Van Ormer - avanormer@prairiebizmag.com</p><p>Patience, listening skills key to success NANCY LIBERSKY</p><p>Minnesota District DirectorU. S. Small Business Administration</p><p>Once a business closes its books for the year,management has the opportunity to look at thetrends in their financial statistics. Reviewing year</p><p>end financial ratios over a 10 year span gives a picture ofwhere the business is performing and what areas deservemore attention. Ratios which give a good picture ofperformance include yearly sales changes, average grossprofit margin, inventory turnover, accounts receivable daysoutstanding, yearly expenses compared to sales, net profitas a percent of sales, sales, and profit per employee.Looking over each of these statistics should give</p><p>business owners a good idea of their true performance andsuccess. If comparable national or regional numbers areavailable, use them to help guide business decisions.When evaluating businesses, a close look at the ratios</p><p>will provide a solid understanding of what has happenedrecently. Two very key ratios are accounts receivable daysoutstanding and average inventory. If a business shows abig jump in accounts receivable, it could signal the businesshas taken on much higher risk or poor pay customers,which will eventually be costly. Should inventory jump up,</p><p>it often indicates the business is holding on to a lot ofunwanted/unusable product.Perhaps your sales have declined the last few years.</p><p>Should this be the case, your average gross profit should beinspected. If you purposely left low profit margin businessand your margin is up, youve succeeded. If you haventchanged your approach, lost sales but gained margin, itspossible you have priced yourself out of the market or havea competitive threat you have missed. Each ratio tells astory similar to sales and gross profit change. Knowingyour numbers, especially trends over time, is extremelyhelpful to a business owner. PB</p><p>MATTHEW D. MOHRCEO, </p><p>Dacotah Paper Companymmohr@dacotahpaper.com.</p><p>Women in Business</p><p>Business Advice</p><p>Watch your trends</p></li><li><p>10 Prairie Business March 2011</p><p>Press releases and photos about business news and events in North Dakota, South Dakota andwestern Minnesota can be e-mailed to avanormer@prairiebizmag.com for considerationPrairie News</p><p>NORTHERN TIER NETWORK LINKS STUDENTSTO GLOBAL RESEARCHParticipation in the Northern Tier Network is</p><p>connecting North Dakota researchers with scientific workapplicable here in North Dakota and around the world,according to a recent report.High-performance computing provides scientific tools</p><p>and enables new types of collaborations not possible justa few years ago. Examples include: four-dimensionalmodeling simulation to better understand tornadoformation using supercomputers located several statesaway, real-time sharing of electron-microscope work withscientists thousands of miles away, and rapid transfer ofvery large data that would take 10 days at the internetspeed available for home use compared to the NorthernTier times of 1 hours.</p><p>SOUTH DAKOTA PUBLISHES STATES FIRSTPOLICY GOVERNING SOCIAL MEDIAThe State of South Dakota has created and published</p><p>South Dakota state governments first Social Media Policy.South Dakotas Secretary of State Office is adding</p><p>Facebook, Twitter, and You-tube and other social mediatools as part of a comprehensive effort to enhance votereducation and to inform people of the mission of theSecretary of State.</p><p>CONSORTIUM ADDS MINNESOTA-CROOKSTONThe New Century Learning Consortium (NCLC),</p><p>founded at the University of Illinois Springfield, hasadded the University of Minnesota Crookston as its 10thmember. The Consortium is designed to assist universitiesin implementing high quality, large-scale online andblended learning programs.The Consortium plans to expand to 14 institutions by</p><p>May 2011. Activities include developing a clearinghouse ofonline classes where there are excess capacity, sharedresearch projects, shared IT expertise to support buildinginfrastructure capacity, and peer support at the upperadministration, dean, and faculty member levels.</p><p>SANFORD HEALTH RECEIVES GRANT FORMAMMOGRAPHY SERVICESPatients of Sanford Health will benefit from new, state-</p><p>of-the-art mammography equipment, which is possiblethrough a grant from The Leona M. and Harry B.Helmsley Charitable Trust. The Leona M. and Harry B.Helmsley Charitable Trust have awarded Sanford Health$2,060,151 to upgrade its mammography services.The grant will be used to purchase state-of-the-art digital</p><p>mammography units, replace radiologist workstations, andupgrade the mammography room and patient waiting area.</p><p>PATHWAYS TO BUSINESS GROWTHLAUNCHESEnterprise Minnesota is launching Pathways to</p><p>Business Growth, a program to help Minnesota-basedmanufacturers develop and implement innovativestrategies that lead to growth.The program is one of 22 projects nationwide to</p><p>receive funding from a $9.1 million program through theNational Institute of Standards and Technology andManufacturing Extension Partnership. EnterpriseMinnesota received a $515,000 grant award to help makeMinnesota a leader in manufacturing.Pathwa...</p></li></ul>