MEETING MINUTES
Friday, July 18, 2008
Volume 15; Issue 25

Membership Report

Just a reminder when talking to people about membership...Initiation is $150 and dues are $200 a quarter.
 

Treasurer Report

The quarterly dues billing went out 6/1.  Please contact Melissa Matthews if you did not receive yours.

Leads Report

38-42, 22-42, 57-25, 40-28, 37-23, 15-56, 21-25, 56-13, 56-22, 04-41.

Notable Mentions

Joe Zingale's father passed away Wednesday.  They are having a viewing on Sunday night from 5 to 7 at Queen of Heaven Mortuary on Baseline just East of Stapley.   There is also a funeral mass at St Timothy’s Catholic Church at 10 am on Monday.

Check out the smaller, local airports.  They are offering some good deals on getaways.

Board Meeting Recap - The board discussed bringing in a business coaching to have sessions during the meetings.  It would be more general topics since our businesses are all unique.  This person would be paid for their services but also asked to be a member of the group.  One person they are looking interviewing is Daniel Creed with FocalPoint.   If you have any comments or insight please post it on the website.

Main Discussion - Business Topics Q&A

Because of the light crowd today, Lisa decided to skip the round tables and answer questions as a group.

What marketing tools have been successful?

• Google Ads.  You choose demographics and how much you want to pay and you can cancel at anytime.  AZ Central, on the other hand, gets a lot of traffic but is very expensive.  You get more bang for your buck if you go with Google.
• My Space and U-Tube are alternatives worth trying.
• Craig's List has been successful for many people.

Other than payroll, what is your next most costly expense?

• Subcontractors and Materials
• Rent

If you work with your family, what are some of the issues you've faced and how have you solved them?

• Opened 2 Stores
• Divorce
• Moved to Arizona

My uncollectibles are much higher than last year.  Are others in the same boat?  What are you doing about it/

• I've noticed that I am being asked to pay in advance on productions I used to be billed for.  People are just not giving terms. 
• I take customers from prepay to terms once I get to know them well and know that they will pay.
• I had a problem with bounced checks.  Now we try to get a credit card number and charge it if the check bounces.
• All my new customers I put on credit card.  On existing customers, I have shortened the range and sent letters requesting prompt payment
• My policy has been to collect so much up front.  But if I wait, I may lose the business. I also worry about honoring a MABE lead.  Should I discount it if they prepay?
• Today, cash is king.
• You don't have a problem if it is only 10%.  Set aside money to cover the lost cash flow.
• I started taking credit cards a year ago just for this reason. 
• Give customers as many avenues to pay as possible.  I pass on the credit card fees and they pay it.
• Weeding people out is my first objective.
• I have been burned several times. 
• I have to be careful with new pool construction.  I sit down and do a visual drawing.  A lot of people just want that and then shop it.

Has anyone fired a client because it is not worth the business?

• Yes
• Don't pay on time, Never happy

Are you paying yourself?  When it is all said and done, is there enough left over.

• No!  I have talked to a number of financial planners over the course of several years.  They all have time frames for setting aside money...which I double.  Whatever you have it is not enough.  That advise was worth its weight in gold. 
• Ours is a new business so I am basically unemployed.  We are investing at this point.  I did not expect to get paid at first.

It was suggested that we do this once a month.  Bring your own questions and let's share our knowledge!

MABE Benefits

Listed below are the benefits we have to offer MABE members.

OfficeMax

• Use the Retail Connect card to receive discounts of 10-70%
• Periodically specials

Arizona Central Credit Union

• A No Fee Business checking accounts
• Business Lending, for all type of loans
• Merchant Services that can save up to 45%
• Direct deposit services
• HSA's
• Friendly personal service with a relationship banker
• 12 branches in AZ

Alltell

• BlackBerry Curve, $79.99 after $100 mail-in rebate; $329.99 + $100 mail-in-rebate in the retail store
• UM150 data card, $.99; $79.99 + $50 mail-in rebate in the retail store
• LG AZ390 flip phone, FREE; $59.99 in the retail store
• PLUS other phone options
• Above prices are with new service and 2-yr contract
• On the monthly service: 10-18% discount on the access charge per line, depending on the size of the account (Min 10 lines)
• Discounted pricing on REPLACEMENT phones instead of full price or monthly insurance charges.  No new contract.
• No activation fees.
• "Personal" accounts...eligible for 10-15% monthly discount on MOST retail plans.