Member of the Month: Ilyse Shapiro

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The Candy Lab, located in Ardmore, PA and Haddonfield, NJ,  is a craft workshop where you can make edible art.   At The Candy Lab, we bring the art of candy crafting to life! We believe in the power of imagination and creativity, and what better way to explore these concepts than by playing with your food!

Our classes, camps and parties on candy crafting for kids are designed to engage and entertain children (and kids at heart) while they learn the fascinating process of making their own sweet creations. Led by our expert candy artists, we inspire kids to think outside the box and bring their imaginings to life using delicious candies, fruits and vegetables.

The Candy Lab provides a safe and supportive environment where kids can experiment with different techniques and tools under the guidance of experienced candy artists. From crafting lollipops in a variety of shapes to designing colorful candy bracelets, the possibilities are endless. Not only do these classes foster creativity, but they also boost fine motor skills, hand-eye coordination, and critical thinking abilities.

As a family-owned business, we understand the importance of creating lasting memories with our loved ones. That’s why we offer a range of candy crafting workshops suitable for all ages. Whether it’s a birthday party, scout troop activity, or a fun weekend outing, The Candy Lab provides an interactive and delightful experience for everyone.

So, go ahead and play with your food! Join us at The Candy lab and let your imagination soar as you create your own sugary masterpieces.

Q&A with Ilyse:

What is a non-profit that you support? Other than CCBA? 
The Halloween Helpers provides new and previously-enjoyed Halloween costumes to kids in need throughout the world!

What is your favorite place you have traveled to?
Silver back gorilla watching in Uganda  

What was your first job?
Newspaper carrier 

What is something you’ve always wanted to do but haven’t done yet?
Volunteer at an elephant orphanage in Thailand

What is the first place you’d recommend to someone that’s never been to our city?
Reading Terminal

Beneficial Ownership Reporting Requirements

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Is Your Company Required to Report Beneficial Ownership Information (BOI)? 
The January 2025 Reporting Deadline Indicates You May.
By Robert Cohen, CPA, CFE  

Beneficial Ownership Interest Reporting Requirements
The new BOI reporting requirements, effective January 1, 2024, apply to domestic and foreign companies created or registered to do business in the US by filing a document with the Secretary of State (or similar office). While certain types of businesses are exempt from filing (e.g., tax-exempt entities, banks and credit unions, large operating companies, inactive entities), the new rules are targeted at small businesses. So, chances are many of your business may be impacted.

Here are the details.
The Corporate Transparency Act (signed into law on January 1, 2021) expanded anti-money laundering laws and created new reporting requirements for certain companies doing business in the US.  Beginning in 2024, many small businesses are required to report information about their beneficial owners to the Financial Crimes Enforcement Network (FinCEN) in an effort to create a national database for use by national security and law enforcement agencies to prevent the use of shell companies for criminal activity. 

Who Must File. 
Both domestic and foreign reporting companies are required to file reports.  A company is considered a reporting company if a document was filed with the Secretary of State (SOS) or similar office to create or register the entity.  Corporations (including S corporations), LLCs, and other entities formed through the SOS are subject to the reporting requirements.  But, because sole proprietorships, trusts, and general partnerships do not require the filing of a formal document with the SOS, they generally are not considered a reporting company and will not have a filing requirement.  Foreign companies are required to file reports if they are registered with the SOS or similar office under state law.

Some companies are exempt from reporting, but many of the exempted companies are already required to report ownership information to a governmental authority.  Of particular interest to you may be the exemption for large operating companies.  A large operating company is any entity with (a) more than 20 full-time US employees, (b) an operating presence at a physical office within the US, and (c) more than $5,000,000 of US-sourced gross receipts reported on its prior year federal income tax return.  If you meet these qualifications, you are not subject to the new reporting requirements.

What Information Must be Provided.
Beneficial Ownership Information (BOI) must be reported for the reporting company's beneficial owners and (for entities formed or registered after 2023) company applicants.  BOI includes an individual's full legal name, date of birth, street address and a unique ID number.  The unique ID number can be from a non-expired US passport, state driver's license, or other government-issued ID card.  If the individual does not have any of those documents, then a non-expired foreign passport can be used.  An image of the document showing the unique ID number must also be included with the report.

Beneficial Owners.
Two groups of individuals are considered beneficial owners of a reporting company: (1) any individual who directly or indirectly owns or controls at least 25% of the ownership interests of the reporting company; or (2) any individual who exercises substantial control over the reporting company.

Individuals with substantial control are those with substantial influence over important decisions about a reporting company's business, finances, and structure.  Senior officers (president, CFO, general counsel, CEO, COO, and any other officer who performs a similar function) are automatically deemed to have substantial control, as are individuals with the authority to appoint or remove senior officers and board members.  There is no requirement that these individuals have actual ownership in the company to be considered a beneficial owner for reporting purposes.

Company Applicants.
The company applicant is the person who actually files the document that creates or registers the reporting company (e.g., an attorney).  Company applicants must provide the same information that is required of beneficial owners, but only if the reporting company is formed or registered after 2023.  Because of the difficulty in tracking down information about company applicants for reporting companies that have been in existence for a number of years, reporting companies formed or registered before 2024 do not have to supply BOI for their company applicants.

FinCEN Identifiers.
Individuals and reporting companies can request a FinCEN Identifier (FinCEN ID) to use in place of supplying detailed information on the report.  A FinCEN ID is a unique number assigned by FinCEN which is obtained by submitting the same information as is required of a beneficial owner or reporting company.  A FinCEN ID may be useful to individuals that prefer to send their personal information directly to FinCEN rather than through a reporting company, or to individuals that may be required to supply information as a beneficial owner or company applicant of several reporting companies. 

Important Filing Dates.
For existing reporting companies created or registered before 2024, the initial report is due by January 1, 2025.  For reporting companies created or registered in 2024, the initial report is due 90 days after the entity's creation or registration.  For reporting companies created or registered after 2024, the initial report is due 30 days after the entity's creation or registration.

If there is a change to previously reported information about the reporting company or its beneficial owners, an updated report must be filed within 30 days of the change.  So, it is imperative that your company implement a system to identify reportable changes and file an updated report with FinCEN in a timely manner.  The penalties for willfully failing to file both initial and updated reports are steep-$500 per day that the report is late, up to $10,000 and imprisonment for up to two years.

How to File.
BOI reports must be filed electronically.  FinCEN's e-filing portal, available at  https://boiefiling.fincen.gov/ , provides two methods to submit a report: (1) by filling out a web-based version of the form and submitting it online, or (2) by uploading a completed PDF version of the BOI report. Some third-party service providers may also offer the ability to file the BOI report through their software.  The person who submits the BOI report will need to provide their name and email address to FinCEN.  There is no fee for filing the report.

If you have any questions about these new reporting rules and how they affect your business, consult your legal or financial professional – or I would be happy to discuss them with you and provide you with recommendations for legal counsel assistance.  FinCEN also has a Small Entity Compliance Guide and frequently asked questions to help guide businesses through the reporting requirements.  These are available at  https://www.fincen.gov/boi/small-business-resources.

Robert Cohen, CPA, CFE
215-938-8815
rcohen@cohencpacfe.com

Member of the Month: Wendy Ramunno

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As a ghostwriter, Wendy Ramunno enjoys helping busy executives get their best ideas across to their target audience. She specializes in thought leadership strategy, articles, op-eds, video scripts, speeches, and social content. 

Wendy’s clients include university presidents, tech CEOs, and top executives at leading global firms. Her work spans multiple industries, but she finds cleantech and renewable energy projects especially rewarding. 

Wendy began her career on Capitol Hill, where she covered the U.S. House of Representatives for Congressional Quarterly. Since then she’s taught English in Barcelona, earned a culinary degree in New York, and cooked at Eleven Madison Park. She’s written for national magazines like Fast Company and Food & Wine, and was the Philadelphia Editor of Zagat. 

A graduate of the University of Notre Dame, Wendy also studied in Santiago, Chile. She works out of Offsite at Fitler Club, where she leads the Women of Fitler networking group. Wendy has clients around the world, so she really appreciates when she can collaborate with local Philadelphia leaders in person. 

Q&A with Wendy:

It’s Sunday at 10 AM. Where are you?
Headhouse Farmers Market almost every week (buying more flowers, fruit, and veggies than I can carry)

What is a non-profit that you support? Other than CCBA?
Philadelphia public schools. Thriving schools for all Philadelphia children are key to the city’s success.  

What is your favorite spot in Philly to disappear for some alone time?
Walking my dog in Washington Square 

What are you reading right now (or what is a go-to book you would recommend to others)? I’m usually reading a few books at a time on my own and with my book club. But I will always love “My Brilliant Friend,” the Neapolitan novel series by Elena Ferrante. And its HBO adaptation is excellent, too!

What is something you’ve always wanted to do but haven’t done yet?
Write a novel 

Wendy Ramunno
Wendy Ramunno Consulting
wendy@wendyramunno.com
wendyramunno.com
LinkedIn

3 Key Tax Strategies Every Growing Business Should Know

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by Alex Thacher, Tax Partner, Armanino LLP

Running a rapidly expanding business is exhilarating, but it comes with its own challenges — especially when it comes to taxes. Missing out on valuable tax savings can sting even more than not scoring tickets to your favorite concert.

If you're a business owner or CFO striving for growth, proactive tax planning isn't just beneficial — it's essential. Here are three key tax strategies that can save your business significant money and help you avoid unexpected liabilities.

1. Secure Tax Incentives Before Committing to Property Deals
Imagine this: you've just signed a lease for a new warehouse in a different state, only to realize you missed out on potential tax credits that could have greatly reduced your costs. State and local governments often offer tax credits and incentives to attract businesses that promise job creation and capital investments.

By negotiating these incentives before you finalize your lease or purchase, you can layer multiple financial benefits, such as:

  • Cash grants for job creation and training

  • Tax credits based on eligible investments and job creation

  • Property tax abatements at the city or county level

  • Sales tax exemptions on eligible equipment purchases

The best time to negotiate these terms is when you're still weighing your location options. Asking about available incentives early on can lead to substantial cost savings.

Your Next Step: Before committing to a new location, consult with a state and local tax incentives expert to explore all of the potential benefits for your business.

2. Understand SALT Laws for Out-of-State Sales
Picture this scenario: Your online sales soar, but then you receive failure-to-file notices from multiple states. Since the Wayfair decision in 2018, states have enacted economic nexus provisions, allowing them to tax out-of-state sellers without a physical presence in that state. This means your booming online sales might subject you to additional state and local taxes (SALT).

But you may be able to reduce your tax bill in your home state and comply with nexus requirements in other states. That’s how a California-based eSports team saved $1.65 million. By conducting a sales sourcing study, they discovered they'd been overpaying California income tax while underpaying in other states. By being proactive, they transformed a potential financial disaster into a significant tax refund.

Your Next Step: As your online sales grow, engage a tax expert to conduct a SALT health check. This can help you stay compliant and potentially reduce your overall tax burden.

3. Assess Tax Implications for Remote Hires
Remote work has its benefits, but it also introduces new tax complexities. Hiring an employee who lives out of state can subject your business to unfamiliar sales and income tax liabilities. For instance, an employee generating significant revenue from a different state could trigger new state and local income taxes in addition to any sales tax on taxable goods or services.

The costs might seem minor compared to your overall tax bill, but it's crucial to understand the full tax impact before making remote hires.

Your Next Step: Before hiring remote employees, evaluate the total tax cost, including any new  SALT obligations. And establish a policy requiring employees to notify HR if they move to a new state within a certain timeframe.

The Value of Consulting a Tax Strategist
If unexpected tax bills have blindsided you, it’s likely due to a lack of strategic tax planning. Involving a tax strategist in your decision-making process can help you make sure that you're not missing out on potential savings. A proactive approach can reveal hidden tax opportunities and ultimately drive your business's growth.

Your Next Step: Meet with business tax experts to dive deeper into your specific tax situation and goals. They can craft a tailored tax strategy that accelerates your business forward.

Don't Miss Out on Tax Savings
By implementing these tax strategies, your growing business can save money, avoid unexpected liabilities and thrive in today’s competitive market.

Armanino's business tax experts have the industry expertise and experience to help you navigate the complexities of tax credits and incentives. Contact us today for a free assessment and start maximizing your tax savings. Contact Geoff Mesko for more information.

Member of the Month: Sarah McIntyre

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Culture CFO started after working in a number of industries and seeing the lack of cultural management. If you ignore your culture, your employees feel ignored. If you are not actively managing the culture, it is being determined by the lack of investment. Company culture is dynamic and takes constant work. It is influenced by what you are doing inside your company and what is happening socially, outside in the real world. Most companies expect their human resource departments to manage or create their culture without proper guidance or input. What if your HR team has a different vision than you? Many HR departments are at capacity with daily tasks, housekeeping, and basic training and onboarding. Most HR professionals are not going to have the skill set for financial analysis when implementing cultural or employee wellness strategies. This is the gap I see across industries and what separates industry leaders from their competitors. How can you bridge the gap between your finance team and your HR team? How can you increase awareness between owners and front-line employees? How do you know where to invest and what yields the greatest results?

I was born and raised in Philadelphia and attended J.R. Masterman for grade school and high school. I stayed local and went to Arcadia for my undergrad degree and earned my MBA from Drexel University. I have had numerous operations and finance roles over my career in non-profits, higher education, local government, and family-owned businesses. In a slight departure from my professional resume, I have been a certified meditation and yoga instructor for the past 10 years. All these passions and experiences have culminated in creating Culture CFO.

As I formed this company with my business partner, Brian, we wanted to focus on people and culture. Focusing on people and building culture have been instrumental in every leadership role during my career. Creating environments where people feel supported, valued, and seen. I have consistently shown that companies perform better when employees thrive personally and professionally. After my last position, I realized that I can take my skills and help affect change across multiple organizations leading to better financial performance for the company but also improve the lives of the employees we serve.

A big part of Culture CFO is improving communication and establishing processes and procedures, including documentation. It is offering supplemental support by outsourcing training and creating better financial metrics in alignment with the environment you want to create. I believe in leading by example, nothing is too small or insignificant to handle. Some of my favorite mentors taught me to value each step in the process, because without it, the whole system breaks down. They also showed me the importance of genuinely caring about the organizations and the people within. Most owners and C-Suite leaders care about their business. They might even say they care about their employees. But without constant management of their culture and creating safe feedback loops, most organizations are operating blindly. Throwing money away on employee programs that feel inauthentic and out of touch with the employee base.

A lot of midsize companies also suffer from not know who to promote and how to properly train new managers and leaders. Historically organizations promote high performers to management positions without knowing if they are the best leaders. Most companies cannot offer significant leadership training or tools on how to properly navigate team performance and metric expectations for these new leaders either. Creating a process and investing in your front-line management and leadership team will affect your employee base more than any other component or program you can provide. As you grow and get further from your clients, you lose the control you had over the culture. As you grow and hire more people who are no longer just from your network, your message needs to become clearer.

We help you identify where your money will best be reinvested within your organization. We help your mid-level leaders establish clear goals increasing their confidence and setting clear expectations for your employees. We offer training to help lift the burden from your HR department, working with them to fill the gap. We work alongside your finance team so they feel confident on the investments we recommend. Our goal is to help your company grow and establish processes that will allow you to scale safely for years to come.


Q&A with Sarah:

What are you reading right now (or what is a go-to book you would recommend to others)? Right now, I am reading Think Again by Adam Grant and Leading Inclusion by Gena Cox, PhD. The book I could read again and again is The Hobbit by Tolkien and the book I recommend to my meditation students just starting out are The Untethered Soul by Michael Singer and The Alchemist by Paulo Coelho.

What is your favorite spot in Philly to disappear for some alone time? I love the grounds at the Glen Foerd mansion. The building is open to the public for self-guided tours as are the grounds (check the building hours, though). It is along the river and there are plenty of places to sit, reflect, and plan.

What is your favorite app right now? Probably boring, but Audible and Spotify. I like listening to my books and podcasts on the move.

What is your guilty pleasure TV show? I am not a big TV show person, I like movies that I can finish in one sitting.

What is a non-profit that you support? Other than CCBA? I just started working with Compass Pro Bono, they partner business professionals with other community organizations that need outsourced skills like marketing, finance, or general management. It is a wonderful organization where you can dedicate your time and skills to really make a difference in Philadelphia.

What is your favorite place you have traveled to? Luckily, I've been able to travel extensively and two places I enjoyed in the past year were St. Barts and Costa Rica.

What was your first concert? Boys to Men (I am a born and raised Philadelphian)

What was your first job? I was a lifeguard. I got my certification young at 15 and they held my certification until I was 16 but employed me anyway.

It’s Sunday at 10 AM. Where are you? Making breakfast in my kitchen and probably planning or prepping dinner, too.

If you had an extra hour in the day, what would you do with it? Teach a meditation class, again. I miss building that community.

What’s your favorite or go to meal? My go to meals are definitely comfort foods, because sometimes you just need some love and a hug through food. Meatloaf and mashed potatoes, spaghetti and meatballs, chicken noodle soup, etc.

If you “played hooky” how would you spend your day? At the beach with a book.

If you had to leave your home and could only take 1 item with you, what would it be? Besides the people, I would take a ring. It was the first friendship ring my grandfather ever gave to my grandmother when they were just teenagers.

What is something you’ve always wanted to do but haven’t done yet? I have always wanted to scuba dive in Stuart's Cove with sharks. It is a bucket list item that will eventually happen.

What would people be surprised to learn about you? I played volleyball in college.

What is your best networking tip? I think my best tip is to be authentic. Not everyone is interested in what you are doing or what your business is, but if you are authentic, people will remember you and want to get to know you. 

What is the first place you’d recommend to someone that’s never been to our city? The Art Museum and Kelly Drive on the first Sunday between April and October. Specific, but I believe you get a real feeling for what our city is like because the road is closed allowing you to appreciate the scenery and beautiful weather while you walk or bike and you can experience world-class art that is pay what you wish. Almost a free day in the city and it is one of my favorite things to encourage.

The weather says a snowstorm is coming. Besides the basics, what are you headed to the grocery store to make sure you have in case you are stuck home? Everything to make braised short ribs, polenta, and homemade bread. 

If you decided to start a different career, what would you do instead of what you are doing now? I think I am where I want to be in my career. I am using my passion for people and my skills in finance and management to improve the lives of employees and the financial performance of mid size companies.

Where did you spend December 31, 1999? With friends at Comedy Sports on Sansom Street. It was always a great place when you were too young to go to a 21+ event and you were too old to hang out with your parents.

Member of the Month: Bridge View Media

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Bridge View Media is a strategic communications consultancy that helps you understand what you need to say and how to say it, so you can connect, communicate and engage with your audience.

Our expertise is in strategic story and audience dynamics.

Our services include:

  • Strategic Communications: We give you a clear and concise way to talk to the world about what you do, and a strategy for implementing that communication.

  • Communications Training: We give you the skills and training to have those conversations.

  • Media Design: We analyze and execute the most effective way of reaching your audience.

  • Audience Dynamics: We define the audience whom you want to reach.

Managing Partner Nora Barry is a communications and story strategist who has worked with top technology, life sciences and media companies, including Lenovo, Red Hat, IBM, Ellucian, Astra Zeneca, Spark Therapeutics, and Hallmark, among many others. Early in her career she worked in marketing communications for AT&T, Avaya, Lucent and Verizon. She has written for The Wall Street Journal, Reuters, Forbes, and Inc. Magazine, and has been a contributing author on a number of books. She is the author of The Strategy of Story: Why Story Works and How You Can Make It Work for You, published in the fall of 2023.



Managing Partner Michael Adams is a 25 year veteran of network and cable news and sports. He began his career as an Executive Producer for CBS news and led the production of a number of Super Bowls, PGA tournaments, political conventions and was the lead global producer for a Papal Visit. Michael moved into the C-Suite at Tribune, where he launched the first regional 24 hours news channel, and then Knight-Ridder in Philadelphia, where he was the first to put cameras in a print newsroom. Prior to launching Bridge View Media, Mike created both a venture capital fund and a strategic advisory firm that worked with consumer products, online education, finance, and technology firms.

Q&A with Nora and Michael:

What is your favorite spot in Philly to disappear for some alone time? Penn Treaty Park

What is a non-profit that you support? Other than CCBA? The Athenaeum

What is your favorite place you have traveled to? Venice, Italy

What was your first concert?  Bruce Springsteen!

What is your best networking tip?  Focus on creating a good story to tell about yourself—and ask others for theirs.

Driving Growth Throughout Philadelphia: PIDC’s 2023 Annual Review

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Jodie Harris is President of PIDC, Philadelphia’s public-private economic development corporation, which offers flexible financing tools, industrial and commercial real estate solutions, and business support services to help local businesses thrive across Philadelphia.

I am pleased to present PIDC’s 2023 Annual Review, highlighting our commitment to driving economic growth and fostering equitable development across Philadelphia. Despite the challenges posed by the global landscape, we have remained resilient, adaptive, and proactive in our efforts to support small businesses, spur real estate developments, facilitate lending, and administer grants for the betterment of our community.

Since assuming the role as President of PIDC in June of last year, I have witnessed the incredible dedication of the PIDC team, and of our clients, partners, and stakeholders, who come together to drive growth in our city. I am excited about the possibilities that lie ahead.

Throughout 2023, PIDC continued to leverage strategic partnerships, innovative financing solutions, and targeted initiatives to stimulate economic vitality and enhance the city’s competitiveness on a regional and national scale.

Last year, PIDC closed on 205 financial transactions investing nearly $333 million across the city. Clients include construction and contractor firms, fresh food providers and supermarkets, healthcare and medical clinics, and education providers—demonstrating our role as a mission driven economic development corporation. PIDC continues to reimagine the Philadelphia Navy Yard, a 1,200-acre campus home to 15,000 employees and 150+ companies. The Navy Yard’s 20-Year Master Plan will add 4.3 million square feet of new construction and adaptive reuse supporting commercial and life sciences development, retail, hospitality, welcoming open spaces, expanded transit options, and—for the first time since the military base closure—residential units.

PIDC’s achievements in 2023 underscore our unwavering commitment to driving inclusive growth, fostering innovation, and building a resilient economy that benefits all Philadelphians.

As we look ahead, we remain steadfast in our mission to empower businesses, revitalize communities, and create jobs for Philadelphians. The PIDC team looks forward to working with and supporting Mayor Cherelle Parker’s Administration, City Council, and the broader business community to expand economic opportunities to every corner of Philadelphia.

Philadelphia-based businesses interested in exploring PIDC's financing opportunities, real estate solutions, or business support services can do so by submitting an inquiry on PIDCphila.com.  

VIEW PIDC’s 2023 ANNUAL REVIEW

Thirty years ago, Jeff Bezos founded Amazon. Ben Frank sold College Mowers.

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By CCBA with a little help from AI

In the annals of business lore, there are stories that captivate the imagination, tales of ambition, innovation, and, occasionally, a sprinkling of serendipity. One such story begins in 1994, a year that saw the dawn of two remarkable journeys.

On July 5th, Jeff Bezos laid the cornerstone of what would become a digital empire, founding a little online bookstore called Amazon. A few years earlier, in a less glamorous corner of the business world, Ben Frank, armed with a lawnmower and a dream, launched his own venture—College Mowers, a modest lawn care company serving the verdant lawns of Northwest Philadelphia.

As Bezos set out to conquer the realms of e-commerce, Frank traded his lawnmower for a suit and tie, transitioning from the world of grass clippings to the bustling streets and offices of the Center City Business Association. There, for the past three decades, he has been the mastermind behind countless events and initiatives, tirelessly working to bring together businesspeople and foster the economic vitality of the city he calls home.

When Bezos's website initially peddled only books, Frank found himself knee-deep in membership spreadsheets, holiday festivals and fundraisers, dreaming of a world where the only thing he had to worry about was the occasional unruly hedge.

Fast forward nearly three decades, and the divergent paths of Bezos and Frank couldn't be more apparent. Amazon, once a humble online bookstore, has morphed into a behemoth of unparalleled proportions. You can now order a life-sized inflatable dinosaur, a toaster that plays "Despacito" (because why not?), or a llama-shaped piñata, all with just a few clicks.

As for Frank? Well, let's just say his accomplishments are a tad more modest. While Bezos amassed trillions of dollars and ascended to the upper echelons of the global elite, Frank proudly boasts of having mowed a trillion blades of grass in his lifetime—a feat not to be scoffed at.

In January 2024, Forbes pegged Bezos's net worth at a staggering $168 billion, solidifying his status as one of the richest individuals on the planet. As for Frank, well, let's just say he's still waiting for that overdue promotion to Event Producer Extraordinaire. Who knows? Perhaps one day, Frank's name will be uttered in the same breath as Bezos's, right after someone remembers to RSVP for the next Happy Hour Breakfast.

However you feel about Amazon, we are so happy Ben started his journey in Center City and thank him for 30 years of service to the Center City Business community.

Thank You Ben. Congratulations on 30 Years!

30 Year Flashback - Check out Ben’s cover letter and Classified Job Post!

 
 

Member of the Month: Allie Mullins

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WBEC-East is an advocate for women business owners and entrepreneurs in Pennsylvania, from Pittsburgh to Philadelphia, as well as Delaware and Southern New Jersey. We believe diversity promotes innovation, opens doors, and creates partnerships that fuel the economy. Housing both our Women’s Business Center’s robust entrepreneurial programming and our Women's Business Enterprise National Council (WBENC) certification and subsequent opportunities, WBEC-East is the region’s go-to for business growth and success – for all. To put it plainly, we are a resource hub connected to many other resource hubs to help you or people you know on their business journey!

As the new Director of the Women’s Business Center, I am constantly inspired by the dedication of budding and seasoned entrepreneurs seeking to turn their dreams into reality. There are many routes to take, hurdles to face, and thoughts to ideate – sometimes it takes a village, and our team can certainly relate. Rhyming is hard to stop once you start, right?

Many of our services are free or low-cost with financial aid available. I am here to help answer any questions you have about WBEC-East and what we do! If I do not have the answer, I will sign up for the Broad Street Run which I really, really do not want to do – so rest assured, I will get you that answer. 

I hope we can connect soon!

More about Allie:

What are you reading right now? The Woman In Me by Britney Spears

Favorite spot to disappear to for some alone time? Spruce Hill Bird Sanctuary - the mosquitos are no joke, though. 

My favorite app right now? The app that changes my bedside lamp's lightbulb color. I can time it to wake me up each morning and make it look like I have a campfire going. It's the simple things. 

My first concert? 98 Degrees.

What is my best networking tip? Go in with an open mind and a listening ear - you never know who you'll meet and what you'll bounce off each other! 

 

Allie Mullins
Women’s Business Enterprise Center East (WBEC-East)
amullins@wbeceast.com
wbeceast.com
LinkedIn FaceBook Instagram Twitter Blog

NewCourtland showcased the Tower at Henry Ave

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Photo: NewCourtland’s Alison Corter with CCBA’s Executive Director Ben Frank

NewCourtland showcased the Tower at Henry Ave. during a Sneak Peek event on June 4.

NewCourtland is showcasing its first inclusive housing property on Henry Avenue, Philadelphia.

NewCourtland Tower at Henry Avenue (formerly a psychiatric hospital known as EPPI) is a new innovative and inclusive housing community on 3232 Henry Avenue in the East Falls neighborhood of Philadelphia. An inclusive housing model ties the creation of homes and apartments for low- or moderate-income households to the construction of market-rate residential development. “This property is a unique model of housing to address the community needs,” says Joe Duffey, CEO and President of NewCourtland. “We believe components of this model can help address the shortage of appropriate housing and resident displacement.”


In November 2014, NewCourtland took possession of the property through a public auction. In collaboration with Kelvin Jeremiah at the Philadelphia Housing Authority, 85 affordable apartments (two phases) were developed using ACC vouchers at the front of the property. In September 2022, construction renovations began on the Tower in partnership with our architect, LRK, and our general contractor, Axis Construction Management, LLC.

MMPartners is advising on the development and leasing of market-rate apartments. We have also partnered with Inglis to advise on the design and technology for the accessible units.

The Tower at Henry Avenue will include:

  • 40 affordable one-bedroom units to lower-income residents (seniors preferred) with housing choice vouchers.

  • Through a partnership with Inglis, 20 accessible apartment units will be integrated for people with disabilities that far exceed standard compliance with the Americans with Disabilities Act. Additionally, these units will be equipped with smart home technology for enhanced independence. Ten accessible units will be offered at market rate, and ten will be affordable.

  • 133 units will be available to the community at market rate.    

  • 8,000 sq ft of flexible commercial space.

The Tower at Henry Avenue will provide a fabric of amenities highly desirable to its diverse tenants in a community-based setting representative of the broader geographic area. These high-quality amenities include bicycle and other storage options, package drop-off and pick-up, a coffee shop, an ADA-accessible gym, outdoor space with a walking trail, community garden, dog park, roof terrace, community rooms/gathering spaces, and ample parking. We believe the 173 apartment units will comprise low-income seniors, people with disabilities, young professionals, families, and empty nesters, creating a new housing environment. 

The total cost of the project is approximately $66 million. This project is approximately 290,000 square feet, will not receive a government housing subsidy, and is fully funded by NewCourtland. The project will be economically sustainable, and the rental income will support the operations. There will be enough cash flow to pay debt obligations and provide a fair return on the equity investment.

Who is NewCourtland:
NewCourtland is a non-profit organization that provides accelerated access to coordinated health, housing, and social services for medically complex and senior residents. It also provides resources, recreation, and educational services for three senior centers, manages a 180-bed nursing home with rehabilitation care, and is a pioneer in developing innovative housing solutions throughout Philadelphia. To learn more about NewCourtland, visit www.newcourtland.org.

To schedule a tour or continue the conversation, please contact
Alison Corter, Director of Strategic Initiatives, at acorter1@newcourtland.org.

The Importance of Connectivity for Small Businesses

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Connections matter to small businesses. That’s not just about networking with the right people. Success depends on having the right technology in place to seamlessly connect with customers, suppliers, and employees. Here are five steps small business owners can follow to give their businesses the best chance to succeed this National Small Business Week (4/28-5/4) and beyond:

Step 1: Evaluate Bandwidth Needs
Specific bandwidth needs will vary from business to business. A small office with a handful of employees has different bandwidth and connection needs than a 100-seat restaurant with a state-of-the-art point-of-sale (POS) system and a robust Wi-Fi network for its patrons.

Step 2: Add Layers of Technology
Build on an Internet connection with business-grade technology solutions, such as cyber-security tools and Wi-Fi-enabled data analytics, that give companies insight into how to run their operations more efficiently.

For example, a retailer might use Wi-Fi-enabled data analytics tools to understand customer foot traffic patterns in their store. This can provide insights into the busiest times and areas within the store and help the retailer make smarter decisions around everything from staffing to inventory management.

Step 3: Lock up Critical Data
Data security should always be a top focus for small business owners. After all, it’s not just big companies that fraudsters are targeting. According to the 2023 Comcast Business Small Business Cybersecurity Report, the company blocked over 390 million phishing attacks targeting small businesses in the second quarter of 2023.

As a first line of defense, small businesses should make sure their Internet provider offers security solutions that help protect devices on the network from threats like malware, phishing scams, ransomware, and botnet attacks. And don’t forget about mobile devices, smartphones and other mobile devices can also present a security risk that should be factored into the overall cybersecurity plan.

Step 4: Leave Room for Growth
As small businesses grow, expand, and enter new markets, they need technology infrastructure that can keep pace. That’s why businesses need to ensure that the technology they choose is flexible and compatible across multiple locations and can be monitored centrally. The right connectivity partner is prepared to keep up with your evolving needs, whether for a restaurant adding a new location or a company with a growing and distributed workforce.

Step 5: Select a Strong Mobile Phone Provider
Choosing the best business mobile partner is different than selecting a personal mobile provider. The top factors small businesses should consider include:

● Flexibility: A good mobile provider offers flexibility in their plans, allowing small businesses to customize based on their business requirements. That flexibility should extend beyond the original purchase and scale and flex to toggle, mix, and match between unlimited or by-the-gig data options. Importantly, find providers that give more savings as the company grows, with discounts that increase as more lines are added.

● Device compatibility and availability: A mobile partner should offer a wide range of devices to meet specific technology needs since no two small businesses are the same. Whether the company needs tablets, phones, smart watches, hot spots, or a combination of them all, a good partner can work to select the specific devices that meet individual businesses requirements.  

While National Small Business Week is a time to recognize the impactful work of small businesses in our communities, it is also a great time to share resources and knowledge to better support these organizations. By following these steps, small businesses can build the foundation for success now and into the future.

business.comcast.com

Member of the Month: Anthony Lehman

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Since 1982, Feast Your Eyes has evolved into one of Philadelphia’s premier catering and event partners serving you in the city and surrounding area. Our success is defined by our partnerships, feedback, loyalty, and the trust you have in our products and service. Whether you are planning your wedding, an intimate dinner in your home, or an epic corporate event, Feast is your go-to for all special occasions.

Over the past 40 years, Feast Your Eyes has grown and refined. Grown on the foundation of the company’s original founders, Feast Your Eyes was sold to the company’s CEO, Anthony Lehman, in 2023. We are an established company with a renewed youthfulness and energy to elevate your event experiences with modernized design in our food, menus, and presentation.

Feast Your Eyes focuses on the entire event experience, making sure that the design, service staff, and menu all work together to elevate your wedding. With our pulse on the global culinary scene and a team of chefs that come from diverse backgrounds, we’re able to combine the best of international fare with our favorite Philly trends. This also means we can incorporate personalized dishes and family favorites into your menu, making it truly one-of-a-kind.

More about Anthony:

What is your guilty pleasure TV show?
Working in the hospitality industry we get to see all sides of people. To relax after a stressful event I binge watch any season of Below Deck. Their event days are much crazier than mine.

What is your best networking tip?
Break out of your comfort zone and meet as many new people as you can. Likely you aren’t the only person who feels a little awkward in the room.

What is your favorite place you have traveled?
I have had the fortunate opportunity to travel to Italy a few times to visit family. This allowed me to experience the less touristy areas of the country and get a truly local experience.

What was your first job?
At the age of 15, I got my first restaurant job working at a local diner. One year later, I was managing the kitchen and turning out 100s of meals per night five nights per week. 

What’s your favorite or go to meal?
Spending time in the kitchen with family has been a part of my life since I was a little child. I cooked and served my first dinner party at the age of seven. Now, as a parent, my favorite meals are prepared with my twins. Often that is homemade pasta and sauce. Yum!

TD Bank Commits $20 Billion

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TD Bank Commits $20 Billion to Spark Economic Opportunities for Low- and Moderate-Income, Diverse and Underserved Communities across 15 States and Washington, D.C.
Community Impact Plan continues TD's local engagement with three-year roadmap  

TD Bank's recently announced three-year Community Impact Plan will provide an estimated $20 billion supporting lending, philanthropy, banking access and other activities for the benefit of diverse and underserved communities.

The strategy, developed with insight from the National Community Reinvestment Coalition (NCRC), will target communities across TD Bank's U.S. presence in 15 states and Washington, D.C.  

“TD Bank knows that we can only declare success as an institution when the people and businesses from all the communities we serve are flourishing,” said Leo Salom, President and CEO of TD Bank, America's Most Convenient Bank®. “One of our primary objectives as a purpose-driven bank is to help power economic opportunities that help low- and moderate-income (LMI), diverse and underserved communities achieve their financial goals. Our Community Impact Plan is designed to achieve that vital role as we build on TD's long-term community focus.”  

The Community Impact Plan expands TD's mission to positively impact social and economic outcomes for all who live in the communities it serves and enhance financial inclusion for diverse and underserved individuals and businesses. Read more.

 

Brinker Simpson & Company's 9 Signs That Signal the Need for a Forensic Accountant

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In today's complex business environment, understanding when to seek the expertise of a forensic accountant is crucial for safeguarding your organization's financial integrity. At Brinker Simpson & Company, we specialize in Fraud in the Workplace and Internal Controls to Prevent Fraud, aiming to protect businesses, especially small to medium-sized ones that are often more vulnerable to financial discrepancies and fraudulent activities.

Here are nine signs that indicate the need for our specialized forensic accounting services:

1.  Discrepancies in Your Books: Do you spot inconsistencies in your books? Our forensic accountants dive deep to find and fix these issues.

2.  Shareholder or Partner Dispute: If disputes over money arise among owners or partners, our neutral evaluations help find fair solutions.

3.  Facing Legal Challenges: Legal disputes or claims against your company require the meticulous examination that Brinker Simpson's forensic accountants can provide, ensuring your financial standing is accurately represented in court.

4.  Detecting Employee Theft: Small, seemingly insignificant thefts can accumulate, impacting your bottom line. Our team conducts thorough investigations to uncover the extent of the theft and recover lost assets.

5.  Managerial Fraud Concerns: If you suspect a manager or someone in a position of power is engaging in fraudulent activity, our forensic accountants can perform risk assessments to detect and prevent further financial loss.

6.  Commercial Insurance Discrepancies: Struggling with insurance claims? We assess your coverage and work out the compensation you're entitled to.

7.  Questionable Bookkeeping Records: Accounting malpractice poses a significant risk. Our experts scrutinize records to uncover malpractices and ensure accuracy in your financial reporting.

8.  Valuing Your Business: Understanding your business's value is crucial, especially when considering a sale or for strategic planning purposes. We provide precise valuations that reflect your company's true worth.

9.  Tax Audit Readiness: Tax audits can be daunting, especially if records are disorganized. Our forensic accountants help you prepare, aiming for a smooth audit process.  

Additionally, Brinker Simpson offers fraud risk assessments and internal controls reviews for organizations looking to address potential vulnerabilities proactively. These services are about identifying weaknesses and implementing effective strategies to strengthen your organization's defense against fraud.

Brinker Simpson Forensic Accounting Services
Your business's security is our priority. Fraud can unravel the hard work put into building your company. With Brinker Simpson, you gain a partner adept at dissecting complex financial issues, guiding you through recovery, and preventing future vulnerabilities.

If you recognize any of these signs within your organization or wish to proactively enhance your internal controls and fraud prevention strategies, give us a call. Discover more about Brinker Simpson's Forensic Accounting Services and how we can assist in securing your business's future at brinkersimpson.com. You can also contact our office at 610.544.5900, and we'll connect you with an experienced team member skilled in your industry or practice area.

Founded in 1989 and headquartered in Media, Pennsylvania, Brinker Simpson & Company is a leading full-service public accounting firm. Led by Managing Partner Michael Simpson, CPA, CVA, our success is driven by a dedicated team of professionals committed to a culture that blends hard work with a passion for helping others. Let us be your trusted partner for success.

 

Key Takeaways and 5 interesting things said by David Adelman at Lunch with the City's Leaders - April 2, 2024

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This article was written by Board Member, Georgette Luna, Owner, Sea Philly

Key Takeaways:

  1. Strategic Urban Revitalization: Adelman's vision centers on strategic revitalization efforts aimed at uplifting neglected areas of Philadelphia, such as Market East and the Fashion District Mall.

  2. Community-Centric Development: The project prioritizes community engagement and inclusivity, with a firm commitment to preserving existing businesses and residences while catalyzing economic growth.

  3. Significant Investment and Job Creation: Adelman's initiative entails a substantial $1.5 billion investment and the creation of thousands of construction jobs, offering a promising economic boost to Center City.

  4. Commitment to Corporate Responsibility: Adelman emphasizes the importance of corporate responsibility, as evidenced by the landmark $15 million community benefits agreement and the pledge to ensure 40% ownership of food and beverage operations by Black entrepreneurs.

  5. Cooperation over Competition: Adelman advocates for cooperation among stakeholders, viewing multiple arenas as a potential economic boon for Philadelphia rather than a source of conflict.

5 interesting things said by David Adelman that many might know about the project:

  1. Historical Significance: Adelman highlights Market East's historical significance as the birthplace of the department store, emphasizing its transformation from a bustling commercial corridor to a neglected area in need of revival.

  2. Community Benefits Agreement: Adelman reveals the groundbreaking $15 million community benefits agreement, one of the largest in the country for a sports and entertainment complex, demonstrating a commitment to investing in local communities.

  3. Black-Owned Business Empowerment: Adelman announces a bold pledge to ensure that 40% of the food and beverage operations at 76th Place will be Black-owned, setting a new standard for inclusivity and economic empowerment in the industry.

  4. Construction Job Creation: Adelman discloses the staggering impact of the project on job creation, with an estimated 11,000 construction jobs to be generated, offering significant employment opportunities for the local workforce.

  5. Cooperative Approach to Development: Adelman emphasizes a cooperative approach to urban development, highlighting the potential for multiple arenas to stimulate economic growth and cultural vibrancy in Philadelphia, fostering a spirit of collaboration rather than competition.

The Benefits of Urban Street Trees to Center City Philadelphia Businesses

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By Christopher Schmitt, GZA GeoEnvironmental, Inc. and Zach Schmitt, The Philosophy Family Farm LLC

Urban street trees have a proven positive influence on the success of downtown businesses. Research has shown that shade trees can improve the quality of life for residents, business owners, visitors and shoppers in downtown business districts like Center City Philadelphia. This improved quality of life has been shown to translate to improved business success.

Shade trees provide definitive economic benefits to downtown businesses, including cooler sidewalks that entice shoppers to linger longer at sidewalk restaurants and adjacent retail shops, softer color palettes and landscapes that attract people to stay and enjoy unplanned activities, and engaging urban streetscapes which draw people out of their cars and onto the sidewalk to stroll by businesses. This process can be used to slow pedestrians down so that previously unexplored businesses are seen and appreciated.

Trees also provide substantial social and ecological benefits that are of great significance to downtown businesses. Urban street trees not only provide clean and breathable air, but also decrease localized flooding during light rainstorms by absorbing water on their tree branches and leaves, where the water can evaporate. During heavier rainstorms, tree roots soak up a great volume of precipitation which would otherwise flood sidewalks in front of businesses. Trees also make neighborhoods and business districts more enjoyable for people.  Trees add natural beauty and create an environment beneficial to our mental and emotional health. It is known that people are more likely to appreciate their city environment and to spend more quality time working, shopping and recreating in the city when their environment is enhanced with street trees.  An important secondary benefit of street trees is their support of the biodiversity of birds and small mammals, which, in turn, results in an increase in people’s ability to connect with nature and their desire to remain engaged with working, shopping and recreating in that area. Business districts which actively improve people’s connections with nature through the establishment of sidewalks with shade trees are known to realize increased economic and social activity. People want to have a connection with nature, and they reward businesses that provide a setting where nature can be enjoyed at their establishment.

In celebration of Arbor Day, this spring consider planting trees to support your local neighborhood, and get an economic boost for your business, too!

Contact Christopher Schmitt at GZA GeoEnvironmental for professional assistance with urban trees, green infrastructure, sustainability and resilience initiatives.

Chris Schmitt is a Senior Consultant with GZA GeoEnvironmental in Center City who focuses on providing sustainable, regenerative and natural solutions to critical issues; his son, Zach, is an interpretive naturalist and educator at The Philosophy Family Farm LLC.

201-463-4267
christopher.schmitt@gza.com
www.gza.com Twitter LinkedIn YouTube

Member of the Month: Joseph J. Console

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I am Joseph J. Console.  I am an attorney and partner at Console Matison LLP.  We are real estate and family law attorneys, practicing in Philadelphia, the PA burbs and New Jersey.  Despite spending most of my childhood in New Jersey, I am Philly through and through, I attended St. Joe’s Prep for high school and Temple University, followed by Rutgers-Camden for Law School.   I love the city, and as a real estate attorney I get to see how the city moves forward, gets re-born, gets imagined and re-imagined and how the different departments work together to create a version of the City that matches how great we all know it is. 

More about Joseph:

What is your favorite spot in Philly to disappear for some alone time?
The Southampton Spa.  It isn’t in Philly proper, its in Southhampton, PA (in the far, far Northeast).  This is the area’s only authentic Russian Banya, which for those that don’t know, is a place with a series of saunas, steam rooms, cold plunges, and other services (like traditional massage) that, while on paper might sound like “The Rittenhouse Spa” or something, it is actually very, very different.  The serious banya rooms have wood-fired stoves and can get as hot as 210 degrees.  Water boils at 212 degrees!  Spending a half a day here, going in and out of the rooms, is about as good as it gets for me…either with some fellow real estate professionals, friends, or just by myself.

What is a non-profit that you support? Other than CCBA?
I support Filitalia, which is a Philly-based, but international, organization that does a lot of work with spreading excitement and awareness of the Italian culture and language.  My family history is South Philly, by way of Southern Italy and Sicily, and I belong to a few local organizations in that vein. I sit on the board of the Filitalia Delco Chapter, and my family sponsors a scholarship that helps fund things like exchange programs between the US and Italy. 

What was your first concert?
My first concert was the Monkees with “Weird” Al Yankovic, at the Mann Music Center on August 8, 1987, with my parents.  I was 6 years old and those were literally (perhaps besides the Beach Boys) my two favorite artists at the time.  “Weird” Al came out in his “like a surgeon” outfit, to open the show ...man I was in heaven.  I am sort of a music nerd now, but if this tour happened again I’d go and likely be just as amazed. 

What is something you’ve always wanted to do but haven’t done yet?
I have had a long meditation retreat on my radar for a while now, since well before I had kids (my kids are 8 and 6).  While I have a consistent daily meditation practice, and I digest a lot of literature and dharma talks, I haven’t had the time to disappear for a long, silent, retreat.  I think it would add a layer to my practice that isn’t really feasible while managing all the necessary business and family day-to-day stuff.  Alas, one only gets so many days away from their family, and I’ve yet to prioritize this.

What is your best networking tip?
Show up!   I am someone who freely admits to having social anxiety, which is likely a result of being a staunch introvert.  However, in my profession, and especially after having started my own business ten years ago, being shy just isn’t an option.  Look, it's always easier to not do the thing, to stay home where it's comfortable and there’s a million things you could be doing or would rather be doing than showing up to a random event full of people you’ve never met and trying to make conversation.  But just show up.  Talk to 3 people, get their cards and have lunch with them.  Do it again the following week.  Just worry about meeting 3 people, which isn’t that many, then go back to your comfortable home. You’ll be amazed, if you are consistent, how quickly that will produce results. 

A Focus on Wellness Can Mean Healthy Savings for Small Businesses

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By IBX Insights Team

Did you know? Multiple studies have found that for every $1 companies spend on wellness programs, they saved $3.27 on health care costs.

The Data Are Clear
Wellness pays off for businesses like yours. Making small changes, along with encouraging healthier habits and activities can bring you substantial ROI, in the form of:

  • Increased productivity, performance, and morale

  • Stronger workplace culture and engagement

  • Better health outcomes

  • A more holistic view of employee health

At Independence Blue Cross (IBX), we have the resources to help get your employees engaged so they can take charge of their well-being.

How to Plan, Even if Your Budget Is Limited
Here are the steps you should take:

  1. Determine what your employees want. Engage with your team and management to find what would help them most.

  2. Make being healthy part of your workplace. Encourage healthier habits in the workplace and everywhere your employees live their lives.

  3. Make it practical and easy. Your employees may not be health and wellness-minded. Give them simple steps to take.

  4. Trust in the IBX resources already available to you. Visit wellbeing.ibx.com to find a wealth of resources available to you for free.

You Don’t Have to Wait to Get Started
There are some things you can do right now to motivate your employees to embrace a whole-health mindset:

  • Offer healthy snacks and drinks. If you offer free snacks, opt for fruits and grains over soda and chips.

  • Encourage employees to use their nutrition counseling benefit. Your employees’ Independence coverage includes six dietitian visits a year at no cost to them.

  • Promote healthy habits at work. When possible, have walking meetings to get people out of their chairs. Sponsor employees’ participation in events like 5K walks, runs, and the 10,000 Steps-A-Day Walking Challenge.

Invest in Employee Well-being

IBX offers employers innovative products and solutions that lower costs and improve health outcomes. Our holistic approach to well-being encourages members to improve their physical, emotional, and financial health to help curb rising health care costs and increase productivity. Learn more at ibx.com.

This content was originally published at insights.ibx.com.

The Real Culprit Preventing You From Your Revenue Goals in B2B Services

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By Christopher Larcade, Synergy Advisory

In the B2B professional services landscape, every business, from early stages to established entities, shares a common goal: achieving and surpassing revenue targets. However, many find this goal persistently out of reach, not due to a lack of effort.

Surprisingly, the culprit isn't in the places we look most frequently.

If you've noticed any of the following:

  • Stagnation or decline in revenue growth

  • A drop in new client acquisitions and diminishing lead-to-deal conversion rates

  • Prolonged sales cycles

  • A decrease in customer retention, with competitors creeping into conversations more often

  • An increase in less-than-ideal client types and low-value projects

  • Challenges in achieving profitability

  • Difficulties in breaking into new markets

  • The all-too-common owner burnout from unrewarding efforts

  • A worrying trend of one-time customers over loyal clientele

  • Lower-than-anticipated company valuation and overlooked exit opportunities

It's easy to attribute these challenges solely to sales. However, the tendency to blame the sales team or process for missed revenue targets is a misconception that has long misled businesses.

With over thirty-five years of experience as a sales leader, I've observed that the real issue often stems from an ambiguous marketing strategy. Marketing is the backbone on top of which successful sales sits. Here are five areas frequently overlooked when troubleshooting revenue issues:

  1. Unclear Value Proposition: Your team and potential clients must grasp the core benefits of your services quickly to ensure your lead generation efforts are effective.

  2. Undefined Unique Selling Proposition (USP): Without a clear USP, distinguishing your services becomes a Herculean task, regardless of your budget.

  3. Unrefined Target Audience and Ideal Client: A non-specific ideal client profile means missing the mark on addressing specific needs, pain points, and outcomes, leading to ineffective positioning.

  4. Unaligned Messaging: Success hinges on prospects feeling understood, not just by the prospect understanding the company—a lack of client-centric messaging results in lower conversion rates.

  5. Unoptimized Lead Nurturing Strategy: The journey and handoff from initial interest to sale readiness is crucial. A disjointed strategy can cause potential revenue to slip through the cracks.

In the competitive landscape of the B2B services within the $5M to $25M revenue bracket, achieving breakthrough growth and overcoming revenue stagnation demands a recalibration between sales and marketing.

Adopting a symbiotic relationship between marketing and sales will drive continuous improvement and strategic refinement. In this model, marketing sets the stage with clear positioning and compelling messaging, enabling sales to find and close deals more effectively. Conversely, sales must provide marketing with invaluable feedback, fueling its evolution and creating a cycle of mutual support and enhancement between the two functions.

Engaging an outside expert, such as a fractional Chief Revenue Officer (CRO), to lead this integrated sales and marketing effort could bridge the traditional gap between these two critical functions and inject a seasoned perspective and a level of expertise that is often transformative. Under the guidance of a CRO, companies can harness the full potential of their sales and marketing efforts, ensuring that each complements the other efficiently and effectively.

This comprehensive strategy does more than pave the way for immediate revenue gains; it lays a foundation for sustained growth, long-term success, and a strategic exit.

Christopher Larcade, Synergy Advisory
215-514-7017
chris@synergysalesadvisory.com
www.synergysalesadvisory.com

Return to Office is Critical to the Vitality of Center City

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By Scott Zuckerman & Paul Lindenmuth, Domus Construction

The return-to-office campaign in Philadelphia has been gaining momentum, although it is nowhere near the pre-pandemic levels, much to the detriment of local businesses, tax base and the overall vitality of Center City.

There remains a substantial faction who are firmly against a return to a full-time, in-person work week, and there is no assurance the holdouts will ever soften their position. Mayor Cherelle Parker’s administration recently began the process of requiring city employed personnel to report back to the office. Independence Blue Cross and Comcast are leading the top-down effort from the private sector and paving the way for others to hopefully follow suit.

The substantial duration of the pandemic shutdowns compelled many employees to adapt to a new dynamic, and many employees who have grown accustomed to working remotely and adjusting their personal routines are reluctant to relinquish their new schedules and flexibility.   

At Domus, the company benefited from being deemed “essential” due to the nature of our projects which permitted us to return to in-person work within several weeks of being mandated to shut down. While many companies are confident in their ability to provide the same level of service to clients through remote or hybrid work schedules, we strongly feel our clients and partners are best served when all our employees are present in the office.  When our employees are working on different schedules, the synergies and daily communication between our team would be compromised without their ability to collaborate in real time. The nature of the construction industry often requires quick and decisive decision making, and the ability to lean on the experience and expertise of our colleagues at a moment’s notice is invaluable. While you become knowledgeable in your respective field attending colleges and trade schools, real-world experience and hands-on learning from your peers can’t be replicated outside of an in-person environment.

It is understandable why many workers embrace remote and hybrid schedules which may allow for greater personal flexibility; however, it negates the interpersonal communication that is so critical. While some companies may determine their success is not contingent upon in-person work and make the decision to reduce or vacate their office space, the long-term viability of center city will require on an equal number of businesses to take their place and return to a traditional work environment. Office to residential conversions can be beneficial in limited scenarios but can also be very costly, but a robust center city business environment is preferable for sustained growth and prosperity.

Scott Zuckerman, Principal, Domus Construction
215-849-4444 szuckerman@domusinc.net
Paul Lindenmuth, Business Development, Domus Construction
215-880-2417 plindenmuth@domusinc.net