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About The Siuslaw news. (Florence, Lane County, Or.) 1960-current | View Entire Issue (June 1, 2019)
8A | SATURDAY, JUNE 1, 2019 | SIUSLAW NEWS BUSINESS BEAT 541-997-3128 290 Highway 101, Florence, OR 97439 www.FlorenceChamber.com www.facebook.com/fl orenceoregon www.twitter.com/FlorenceOrCoast June 1, 2019 Welcome New Members! BUSINESS PARTNERS Ichiban Restaurant 1179 Hwy 101 541-997-8868 Japanese & Chinese Cuisine & Sushi Bar and Lounge. Private party space available. www.ichiban-restaurant.com ASSOCIATE MEMBERS Community Lending Works 216 Main St, Springfi eld 97477 541-345-0446 Th e only Community Development Financial Institutions in the region making small business and microenterprise loans of $100,000 and under, off ering entrepreneurs both start-up and expansion funds. UPCOMING EVENTS June 6 th , Th e Historic Lighthouse Inn Hosts Business Aft er Hours! Here’s your chance to come check out this Florence tradition! Th e new owner Eric Johnson and Manager Lisa invite you to mix, mingle, nibble and nosh and check out their facilities. Th e Lighthouse Inn will be completely renovating their rooms with theme concepts and you’re invited to take a tour of this charming motel. Eric and Lisa and their team would love to meet Florence neighbors and friends. 155 Hwy 101 from 4:30- 6pm. June 20 th , Habitat for Humanity & ReStore Host Business Aft er Hours! Business gets done at Business Aft er Hours! Th ese events are FREE and open to the public. Connect – Develop – Grow From the Director’s Desk By Bettina Hannigan Chamber Executive Director So busy we can’t do what we want OR too broke to do what we want. I don’t know about you but being a business owner was always feast or famine for me. Not just fi nancial but our very valuable com- modity – time. We toss about the term “spending time” but do we really think about it as an “expense”? For me, I am guilty of letting the tail wag the dog far too oft en. How about “Time well spent.”? Th ere are some interesting studies and books available to prompt positive time management, but unfortunately, I don’t have time to read them…. Well actually, Business Matters: Salient Business Strategies By Russ Pierson Chamber Board President salient | sālyent | adjective. Most notice- able or important: it succinctly covered all the salient points of the case. “What’s Your Competitive Ad- vantage?” is the name of an acclaimed business book by Cliff Bowman and Paul Raspin. Between them, they have real-world business experience and hard-earned academic credentials from Cranfi eld University’s School of Man- agement, located just north of London. Th e genius of this book is that it outlines seven core “competitive strategies” and off ers—occasionally counterintuitive—counsel with re- spect to implementing these strate- gies. Th ere are seven strategies, and taken together they form the acronym I haven’t spent the time to read them. Th ey talk about how spending time aff ects our stress levels. Stress is no fun! One of the interesting things about stress is it isn’t just about demands, it is also about change. Some of my most stressful times in my life have been about positive chang- es. Stress can be side eff ect of good things. Oxymoron? Yep. Let’s talk about the diff erence be- tween spending and investing. Defi nitely a diff erent way to look at our resources. If I’m investing my time in something, what is my expectation of return? What’s a time investment look like? Consider this; when you invest time in training your staff , your return is time. As the employee becomes better trained your (or your manager’s) time is freed up to invest elsewhere. Henry Ford said “Th e only thing worse than training your employees and having them leave is not training them and hav- ing them stay.” What does time invested in yourself look like? New knowledge, education, rest, recreation and building relationships are positive time spends. Sometimes it’s easy to feel guilty about taking time out and investing it, but when we actually THINK about our time, these investments have a very positive return. One of my mentors shared a very helpful time management/investment tip years ago. She told me that because of my skills and insight people would want to “use” me and I needed to be careful of my time invested in them. She told me that when I had the opportunity to mentor others I should give them a small achiev- able task. If they didn’t do it, that was my clue that they were using me and didn’t want to invest their time in themselves. Th at tip has saved me, time untold and spared me the disappointment of seeing my investment fail. At the same time the successful mentorships have been incred- ibly rewarding and a great time invest- ment! Summer is right around the corner and our tourist community is going to be busy! I encourage you to consider your time spend and invest in yourself and your team. Time is money! “S-A-L-I-E-N-T”: 1. Specialization: a business focuses its entire operations on perfecting a singular product (or product group). WD40, the standard for household lubricants, can be found in 80% of American homes and businesses, and the product is sold in more than 160 countries. 2. Adaptive: adaptive fi rms are agile, intent on following their customers’ desires. Th e fashion company Zara has developed a process to bring new fashion products to market in as little as a week, and ships new products twice weekly. 3. Low Cost: businesses fi nd ways to reduce the cost to bring their prod- uct to market, oft en producing prod- ucts associated with a brand leader at lower cost. 4. Innovation: especially in markets where customer needs rarely change, innovative fi rms off er inventive twists on the existing product base. Elon Musk’s SpaceX, for example, is working to bring the possibility of space travel to a much broader audi- ence via innovation. 5. Excellence: businesses who focus on excellence are constantly improving their products in ways that are dif- fi cult for others to duplicate. Lexus began as a small division of Toyota and has grown to capture a signifi - cant share of the luxury auto market. 6. No Frills: while not necessarily cheaper, companies in this sector of- fer simple products minus the bells and whistles. In this day of “smart- phone backlash.” a few phone makers are fi nding a market for old school phones without all the distractions. 7. Targeting: these fi rms focus on a narrow market segment, aiming to match products with specifi c cus- tomers. Any of the clothing retailers that specialize in products for their taller customers, for example, are a prime example. Th e takeaways from the book gel around the pace of change and busi- ness adaptation. So while fi rms do best when they focus on one strategy, grow- ing companies oft en move through a series of strategies as they grow and evolve. If it’s been a while since you’ve done any serious strategizing, pick up this book for a quick primer and get about the business of growing your company. June 13 th – Chamber Annual Meeting Celebration, Don’t miss this FREE Adult only event celebrating the chamber’s volunteer board of directors and executives. Enjoy great food and drinks while recognizing the outgoing and incoming board members. Special event sponsor – Providence Medicare Plans. Join us at 5:30pm at the Th ree Rivers Casino Convention Center. July 11 th – Lunch & Learn Chamber Noon Forum – Disaster Resilience for Businesses. Th e Oregon Coast is a dynamic and ever changing region. Th reats from winter storms, fl ooding and landslides aff ect coastal communities each year. Alongside this, they face the real and impending threat of preparing for an earthquake and tsunami from the Cascadia Subduction Zone. While there is little we can do to stop natural disasters from occurring, there are steps that can be taken to reduce the initial risk and damages. Join the chamber and learn how your business can not only survive but thrive through this crisis. Presented by Josh Bruce Director, Oregon Partnership for Disaster Resilience. Best Western Pier Point Inn at 11:45am, delicious lunch is available for $14. Open to the public! Event Committee Meetings – Come join the fun! Want to grow your business? Business by referral is powerful. Participating on a Chamber Committee is an eff ective way to build relationships and referrals. We are currently looking for committee members for the following committees contact Bettina at 541-997-3128 if you are interested in participating in these important committees. • Legislative Advocacy • Membership Development and Retention • Noon Forum & Pub Talk Education Programs • Wine & Chowder Trail (October 11- 13) • Shop Small and Around Town Holiday Hunt Th anksgiving Weekend • Holiday Festival – 1 st Weekend in December You’re invited to the Florence Area Chamber of Commerce 2019/2020 Annual Meeting! Please join the Chamber as we review 2018/19 and look forward to 2019/20. We will have a special presentation retiring outgoing board members and installing new board members and officers. Enjoy delicious bites, nibbles, drinks and adult beverages. The Chamber welcomes the Florence community to this adult-only event. Thursday June 13th 5:30pm-7pm Three Rivers Casino—Events Center RSVP –541-997-3128 or Bettina@FlorenceChamber.com Thank k you u to o our r EVENT T SPONSOR R Providence e Medicare e Planss 2018-2019 Corporate Underwriters Drift wood Shores Resort Th e Korando Dental Group Th ree Rivers Casino Resort TR Hunter Real Estate Distinguished Sponsors 101 Th ings to Do Magazine Banner Bank Bi-Mart Best for Hearing Burns’s Riverside Chapel Blue Heron Gallery Christina Voogd, Principal Broker Coast Radio Fred Meyer Stores Handyman 101 Construction, LLC John’s Construction and Painting Lofy Construction Oregon Pacifi c Bank PeaceHealth Peace Harbor Medical Center Sea Lion Caves Shorewood Senior Living Spruce Point Assisted Living Th e Siuslaw News Wind Drift Gallery Be sure to thank these members for their investment in our community!
