BE a New Business BOSS Starting

YOUR OWN
From the Ground Up
By Jodie Jacobs Page 4

FREE EVE

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In This Issue: Is This Job Right For Me?

By Andrea D. Storz

Considering Starting Your Own Business?

By Moshe Klein

An Economists Viewpoint
Page 10

Page 3

Page 8

By Jewish Business News Staff

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OVER 100 Vendors 2,500 Business Networkers 30 Employers Empowering and Connecting Small Business August 25, 2011, from 1 to 7pm at the Holiday Inn - Skokie, IL

CONTENT
3 EMPLOYMENT Is This Job Right For Me?
By Andrea D. Storz

FROM THE PUBLISHER

Dear Reader,
Can you believe it? Were about to start another year for the kids in school, many businesses and the U.S. Governments fiscal year. For us at Jewish Business News Magazine its Rosh Hashanah, the start of the year 5772. Lets get the year and our business affairs off to a good start. Whenever I look at my calendar, I start planning for the next appointment, the next day, week, month, or year. This is a great opportunity to not get caught in crisis mode, but rather to be pro-active. Establish goals and make sure each day brings you closer to achieving your objectives, whether theyre personal or business. Weve got big plans here at JBN! Since launching the magazine in January, weve received hundreds of letters, phone calls, and personal feedback about what YOU would like to see in our publication. Our next issue will be in October, followed by quarterly issues thereafter. The larger publication will include new feature stories, more frequent web content and other enhancements to provide our readers with the highest quality business journalism youve come to expect from Jewish Business News Magazine. Looking forward to your continued feedback and wishing you a most joyous and prosperous New Year! To Success,

COVER STORY Be Your Own Boss

Starting a New Business From the Ground Up By Jodie Jacobs

FEATURED BUSINESS Dreidels & More Is Tops in Judaica

By Karen Schwartz

IN MY OPINION Considering Starting Your Own Business?

By Moshe Klein

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FEATURED NETWORKERS BUSINESS ETHICS Handling Idle Time at Work

Republished from the Business Ethics Center of Jerusalem

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SMALL BUSINESS FORECAST An Economists Viewpoint

By Jewish Business News Staff

Shalom Klein
Jewish Business News Welcomes These New Businesses
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By Elisha M. Prero, Esq. and A. D. Maclin, Esq.

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On the cover: Photos courtesy of iStock Photography Publisher: Shalom Klein Editor: Mira Temkin Contributing Editors: Moshe Klein Contributing Writers: Jodie Jacobs, Alan Maclin, Elisha Prero, Karen Schwartz, Andrea D. Storz Creative Director: Michael Borkovec Advertising/Sales Coordinator: Leah Alpert Advertising Sales: Janis Mason Distribution Coordinator: Levi Gottlieb Check www.thejewishbusiness.com for updates. 2011 Jewish Business News. All rights reserved. Reproduction in part or whole without permission is prohibited. Editorial, publishing and advertising offices: 3564 W. Dempster St., Skokie, IL, 60076, Phone: (888) 477-4466.
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Is This Job Right For Me?

By Andrea D. Storz Most of us spend more time on the job than we do with our families! Then why do many of us dread it? Maybe we dont enjoy the tasks or spending time with people we dislike or feel were making less money than we should. Its time to take control and identify realistic opportunities that match your skill set, personality and financial needs. Imagine waking up happy and looking forward to going to work. Its possible! Money is a consideration when job hunting, but not the only one. Dont sacrifice your mental health for the paycheck. Take an honest and objective inventory of your skills. Analyze your strengths, acknowledge your weaknesses and evaluate your experience to develop a list of industries where your comprehensive package can be valued. Knowing how to accurately assess a companys culture is key in evaluating if the job is the right fit for you. While the interviewer gauges your experience, you must establish whether the employer is in sync with your philosophies. The interviewer also wants to determine how well youll fit in. Research the company before you apply. If theres anything that strikes you as a red flag, ask questions of interest during the interview. Remember, your talent may be under the microscope during the interview, but its also your time to evaluate if the companys culture can peacefully co-exist with your values. Can you realistically give up your weekends? Are you physically able to stand or sit for long periods without handfuls of ibuprofen? Do you really edit copy? Can you make that two hour drive everyday, in all kinds of weather? After the job offer, you have to deal with issues that will eventually impact your performance and happiness. Self-honesty will eliminate positions you shouldnt have applied to in the first place. Finding the right fit takes keen observation, research, in-depth skill assessment and www.thejewishbusiness.com
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above all, honesty. Todays unemployment numbers scare people into accepting jobs they may end up regretting. Take pride in who you are and what you bring to the table.
In addition to being the Job Counselor/Coach for the ARK and a Jewish homeless shelter, Andrea Storz owns a successful job counseling business. She teaches clients how to utilize tools for a more productive job search. 847-917-4141.

Be Your Own Boss

Starting a New Business From the Ground Up

By Jodie Jacobs

hether youre tired of office politics, a victim of downsizing or have a passion for something other than what youre doing, you may think youre ready to leap into the world of entrepreneurship. But are you really ready? When asked if people are crazy to take that leap given current economic conditions, Marianne OBrien Markowitz, Regional Administrator U.S. Small Business Administration, answered with an emphatic No. Theyre not crazy. Historically, recessions have produced the strongest businesses, said Markowitz. Instead, financial experts say your chances of success relate to how prepared you really are. You dont know what you dont know, said Jan Bauer, director of the Illinois Small Business Development Center (SBDC) at the College of Lake County. SBDCs are among three primary resource operations that provide free counseling services for start-ups. The other two are SCORE and the Womens Business Development Center. In Illinois, SBDCs are also connected to the states Department of Commerce and Economic Opportunity. There are 36 centers throughout Illinois, most tied to local education institutions, but some are associated with not-for-profit help operations such as the Duman Microenterprise Center at the Jewish Vocational Service in Chicago. SBDCs offer classes on the initial steps to take and questions you need to consider. The class offered at Bauers center can be taken on line by anyone in Illinois. Counselors are also available by appointment at each SBDC. Markowitz and Bauer recommend you work with business experts as well as authorities in that field.

Getting started

Markowitz recommended two assessments: personal and business. Are your business and personal goals well aligned? Going into business means a lifestyle change. Consider how it will impact your life and whether its practical. Create a business plan to learn whats feasible. Budget it out. See how much money it will take. Youll quickly see if the concept can work.

At the SBA, we have the three Cs: Capital, Contracts and Counselors, she said. A lot of businesses wait until its too late to get counseling. Seek assistance in the beginning so you have an idea of what to expect. Once you have a business plan, take it to the counselors. Let them poke holes in it. Through this process, youll learn what youre getting into, Markowitz said. She added, Dont expect to be profitable in the first six months. Its important to nail projections. Consider whats most realistic.

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SBA and SBDC materials show entrepreneurs that cost and profit projections are only a part of the equation. Also consider pricing, marketing, production, delivery, staffing, location, competition and compliance, if applicable with local, state and federal regulations.

He is passionate when he talks about connecting coffee farmers with specialty coffee roasters, distributors and retailers, but he acknowledges he knew more about coffee origins than business. I majored in anthropology, he said. To turn his dream into reality, Elster developed relationships with people in coffee industry associations and sought financial and legal advice from experts. I call them the gray hairs, he said. He obtained free advice from several resources, including the Duman Microenterprise Center. You know what you like to do as well as what you dont. You have to build a team, Elster said. Its very important to be open to input.

Where to Find Funding

Banks assess an entrepreneurs experience and business plan to determine credit worthiness, according to Markowitz. Getting a bank loan is greatly increased if you have a strong business plan, she said.

We want people to succeed. People get into a business because its their passion.
The SBA website (www.sba.gov) lists resources and active lenders, Markowitz said. She added that conventional lending is recovering and that the SBA is also handing out loans. Were hitting record lending levels, Markowitz said. According to Bauer, one advantage of using an SBDC to work through the start-up process, including finding a loan, is that each site has ties to local bankers and community resources. We want people to succeed. People get into a business because its their passion, she said. Theyre not necessarily experts in all aspects of it such as taxes, HR or marketing. Recently we pulled together a meeting with an SBDC client, a banker, the village and Lake County Partners. When it was over the banker said, This was wonderful. Id like to do this again. Another advantage is that SBDCs have up-to-date information on federal and state economic assistance programs such as loans, tax initiatives and staff-training dollars. As an example, a recent note on SBDCs College of Lake County site noted that SBA Express Loans were available and that the center had access to small business microloans in cooperation with Accion Chicago. Another note warned against paying a fee to a company or person to provide small business start-up grant information because SBA and SBDC information is free. Last year, we worked with 500 different businesses, Bauer said about her Lake County site. You dont have to go it alone.

The Advantages of Franchising

Instead of starting from scratch, some people look at franchise opportunities. When Elaine Krieger, president of Napervillebased Krieger Kiddie Corporation, was let go after nine years of heading a marketing department because the company downsized, she was devastated. Walking through a mall, she came upon a resale shop where she saw a Gap dress for $3 that she had purchased for her daughter a few weeks prior for $25. She realized here was something that could work in bad economic times, considering a resale franchise as a career move. Krieger went to SCORE for advice, developed a business plan and looked for financing. After five banks turned her down, a sixth bank agreed to a loan. Its about not giving up. If I hadnt gone to that sixth bank, I wouldnt be where I am today. Her corporation includes Clothes Mentor , Platos Closet and Once Upon A Child retail apparel resale stores. Although some people want to escape from big business, her comfort level was to be part of an existing operation. She recommends anyone interested in a franchise should visit Franchise Finder on the web. The corporate world and small business world are like night and day. I like being part of a big team, but still on my own. Krieger has 12 Chicago area locations with projected sales to exceed $10 million in 2011. She recently received an SBA Entrepreneurial Success Award. Krieger said, I cant imagine life any differently now. I feel truly blessed.
Jodie Jacobs is a Chicago journalist who has contributed to the Chicago Tribune for more than 20 years. Her articles have also appeared in Crains Chicago Business, Lake County Business Journal and Whats Happening. Jodie_jacobs@sbcglobal.net
Resources Small Business Administration www.sba.gov DCEOs Office of Business Development www.commerce.state.il.us/dceo/Bureaus/Entrepreneurship+and+Small+Business/SBDC.htm Score http://www.score.org/about-score SBDC at College of Lake County http://wpdi.clcillinois.edu/sbdc/ Duman Microenterprise Center at the Jewish Vocational Service, Chicago http://www.jvschicago.org/duman/. Womens Business Development Center http://www.wbdc.org/

Combine product passion with expert advice

At age 29, Chicagoan Jacob Elster was named SBAs Young Entrepreneur of the Year in Chicago, along with business partner Taylor Mork, New York. After working at a non-profit operation in Uganda where they saw the importance of connecting coffee farmers with ethical outlets, the two friends co-founded Crop to Cup in 2007. Elster estimates the company is valued at between $1 and $2 million.

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Dreidels & More Is Tops in Judaica

By Karen Schwartz
A trip to Israel in 2002 motivated Lincolnwood residents Diane Dubey and her husband, Stephen, a CPA, to open their store, Dreidels & More at Dearborn Street and Delaware Place. We were in Israel, it was the middle of the Intifada, and there were very few American Jews visiting Israel. Merchants were inviting us into their stores, recalled Diane Dubey, former assistant vicepresident of communications and public affairs at Mt. Sinai Hospital. We got home and my husband said we had to do something to help the Israeli merchants, artists and craftspeople whose businesses were devastated by the virtual lack of tourism and whose works at the time, werent available outside of Israel. The best way to help the Israeli economy, Diane and Stephen Dubey decided, was to open their own store that highlighted Israeli arts and crafts. Thus, in 2003, they opened Dreidels & More, in the building where Stephen had his CPA practice. It was tremendously exciting for both of us, Diane remembered. I had been a dreidel collector for several years, and it was fun to turn a passion into a business. Our trips to Israel became more interesting and meaningful as we paid more attention to the beautiful Judaica all around us and met the talented Israelis who had created it. When tourism resumed in Israel and the economy rebounded, Dreidels & More continued to sell Israeli goods, while adding Judaica by Jewish artists from the United States and around the world.
Moving to the Gold Coast In May, 2010, Dreidels & More moved to larger quarters at 67 E. Oak Street. They chose Oak Street, instead of the northern suburbs where other Judaica stores are located. There arent other Jewish gift stores in this area, Diane pointed out.

such popular designers as Michael Aram, LObjet, Nambe and Quest. They feature candlesticks, Kiddush cups, Torah pointers, washing cups, mezuzahs, and other religious items, as well as a variety of jewelry including bracelets, earrings and necklaces. Jewish books (and cookbooks) and CDs are available as well as baby gifts, toys, games and crafts. Customers can purchase candy from Illinois Nut & Candy, and gift certificates are available.
Orders from all over the world Well do special orders and help people find what theyre looking for, Diane said. We have one man in Texas who collects dreidels, and whenever we have a new dreidel, we check in with him.

Well help guide our customers based on what they say theyre looking for, she said. But we often get a sense that they may like a new item thats not on the website yet, so well e-mail them a photo and follow up once theyve seen a picture of the piece. Weve shipped menorahs to Australia, mezuzahs to Belgium, Yiddish CDs to Brazil, candlesticks to Curacao, a challah cover to Durban, South Africa. In the US, weve been contacted by people hungry for Judaica in places such as El Paso, Texas and Huntsville, Alabama, as well as small towns in Michigan, Wisconsin and Indiana. We have people who attend conventions in Chicago who find their way to our store and then return, year after year. Were fortunate to have a large proportion of out-of-towners, which is interesting and fun because we get to know them and their taste in Judaica. Dreidels & More is located at 67 E. Oak Street in Chicago. Bring this article into the store and get 15 percent off your order. For more information, call 312-266-6620 or visit their website at www. dreidelsandmore.com.
A journalist and business writer for more than 25 years, Karen Schwartz has written for the Chicago Tribune, Crains Chicago Business, LA Times, and many other publications. She also writes marketing communications for individuals and organizations. She can be reached at writerks@sbcglobal.net.

Its lovely being on Oak Street, Diane said. Its a very special street and we know a lot of the other merchants. Its like a community, and we belong to the Oak Street Council as well as the Chicago Convention and Tourism Bureau. Dreidels & More sells Jewishthemed gifts and ritual items, plus tabletop and giftware from

Photos by: Larry Engelhart / DejaViewsUSA.com

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By Moshe Klein

Considering Starting Your Own Business?

Some reasons why it may be best to stay in the job market: High failure rate of small businesses Its a 24/7 commitment for the first couple of years to get the business off the ground Lack of startup capital No business experience Your spouse and children dont want to go into business with you (sometimes unavoidable) There are many services available and support networks that will assist new entrepreneurs with many aspects of starting and operating a business. There are even self evaluation tests available to help you figure out if youre cut out for the business world. It may be inevitable that more and more individuals are going to end up in business, whether they intend to or not. With companies eliminating jobs and government budgets being cut, there may not be anywhere else to go. The most successful business owners are aware of the challenges. However, as a small business owner for many years, I can tell you what most others like me would say, there is no greater sense of pride and accomplishment than owning your own business. Good luck making your big decision and may all of your dreams come true!
Moshe Klein is an accountant and small business consultant. His firm, Moshe Klein & Associates, Ltd. is based in Chicago and services clients throughout the United States. To respond to his column, write to: mk@thejewishbusiness.com.

To start your own business or continue the job search? Thats the question. If the recession is over, then why is it so hard for people to find good jobs? Why are so many small businesses failing within their first year or two? Good questions. Unfortunately, there are no easy answers. Being in a dead end job without the ability to support your family is not a good situation. To make matters worse, youre not confident the job will be there long term. Management is complaining about poor sales and layoffs are happening monthly. Should you stay because youre lucky to have a job? Maybe nows the time to consider starting your own business. Could it be any riskier than your job situation right now? In my opinion, not everyone is capable of starting and operating their own business successfully. Some smart and talented people excel in a job where theyre not responsible for financing and managing a business. Knowing ones strengths and weaknesses and true talents is the key to determining if small business ownership is for you. Some benefits of owning your own business: Youre in charge Pride of ownership You take the risks, you reap the rewards Immediate employment

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Debra Lawrence

My motto: Whatever it takes to be a creative lifesaver. My work: Through employer services outreach & community relations I help businesses access resources and tools they may not know about. What sets me apart: I look for win-win-win solutions for business opportunities. Networking is as natural as breathing to me.

Business Employer Services & Community Relations, Illinois workNet Centers of Northern Cook County

Handling Idle Time at Work

Q. I sell in a store. When there are long stretches without a customer, I do crosswords to keep my sanity. Do I have to tell my boss? A. While many people have a business-only attitude, many see nothing wrong with turning to private affairs during down time. Some employers tolerate this; one example is Internet policy. When businesses first found the need to introduce Internet access to employees computers, they generally adopted very strict, business-only policies. Over time, many firms adopted more flexible rules as they learned that the sky did not fall if employees would occasionally check the sports news. That being said, employers do have good reasons to be concerned about this kind of conduct because: 1. Employees may be careful to do crosswords, read novels etc. only during down time, but these pastimes have a tendency to stretch longer. Maybe when there are no customers, you can and should be doing other work. 2. Pastimes can be absorbing; when a customer comes in you may be in the middle of a challenging clue and not turn immediately to the customer. This is extremely un-businesslike and is certain to turn away customers. Even if you do put down your crossword immediately, the customer is likely to get the impression that your attention is not sufficiently focused. 3. Doing other things during work hours can lead to a bad attitude towards work. Just as employers demand specific work attire, they generally demand a specific work demeanor. Maimonides writes: Just as employers are warned not to steal the wages of the poor [worker] or [even] to delay them, likewise the poor [worker] is admonished not to steal the work [effort] due the boss. Idling a little here and a little there, [ultimately] passes the whole day in deceit. Rather he must be strict with himself regarding time.(2) It is true that you are not idling, but only passing time that is in any case idle. But while this pastime may be harmless, you should get the permission of your employer if you want to continue.
SOURCES: (1) Tosefta Bava Metzia chapter 4:12-13 (2) Maimonides Code, laws of hire 13:7 The Jewish Ethicist is a joint project of Aish.com and the Business Ethics Center of Jerusalem and is reprinted with permission. To find out more about Jewish values for the workplace, visit the Business Ethics Center of Jerusalem at www.besr.org.

Janie Minkin

Owner and Founder of Sage Mediated Solutions, L.L.C.

My motto: Keeping families connected and moving in a positive direction. My work: I can be of assistance in reaching a resolution that everyone can live with. What sets me apart: Mediation is a nonadversarial alternative to dispute resolution where the parties themselves solve the issues with the help of my objective third party oversight.

Brent Novoselsky

Vice President, GCG Financial, Inc.

My motto: The greater the challengethe more glorious the victory. My work: I am a financial advisor managing investments and insurance products. What sets me apart: My experience and background allow me to take a very exhaustive and extensive view for my clients.
Locate these and other business networkers and create your own profile online at

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An Economists Viewpoint
By Jewish Business News Staff Since the economy is one of the top news stories, and decisions made by our elected officials will have an impact now and in the future, we felt it was important for our readers to see how a leading economist views the situation. Ernest Goss is the MacAllister Chair in Regional Economics at Creighton University in Omaha, Nebraska. Dr. Goss received his Ph.D. in Economics from the University of Tennessee in 1983. Recently, Dr. Goss shared some of his views about the challenges facing the government relative to the debt ceiling discussions going on at the time Jewish Business News Magazine went to print. What does increasing the debt limit mean? It will be a non-event for the average American. Not increasing the debt ceiling will have several significant impacts. A) First, the U.S. would not default on its debt obligations, but will continue to retire maturing bonds and pay regularly scheduled interest payments. B) Second however, the U.S. Treasury, in consultation with the president, would have to prioritize government outlays other than obligations related to debt. This would mean social security payments could be delayed or U.S. Government vendors would not be paid until the situation is resolved. C) Third, its very likely that interest rates on U.S. bonds and T-bills would rise dramatically as global investors seek safer bonds.

What does it mean to raise spending in relation to GDP? Raising government spending relative to GDP simply means that a larger share of the nations output is composed of government spending and less of private spending. The problem with this shift is that productivity growth is much lower in the public sector, thus overall U.S. economic growth would be slowed. This would affect all Americans as they would experience slower wage growth, smaller retirement packages and higher interest rates. We economists call it crowding out. As government debt grows, interest rates rise, which discourages business investment. Compare increasing the debt limit to consumers increasing their credit limit. There are several differences. Lenders will only allow consumers to run deficits for a limited time. The federal government has no such constraint (except that imposed by politics). The federal government can continue to add to their accumulated debt. However, this will slow economic growth as investors demand higher interest rates, which will choke off growth. A second option available to the government, but unavailable to consumers is the governments ability to print more money, putting more currency into the system. However, this results in excessive inflation and mounting stress on the banking system. Our readers have shared many comments over the past year regarding difficulties in finding jobs or making a profit from their companies. Borrowing and debt is similar to cholesterol there is good cholesterol and bad. Lets hope that our elected officials in charge of running America can find the wisdom to solve the debt problems in time before its too late.

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Knowing where you stand in your career can make the difference between achieving success and only dreaming about it. Its time you owe yourself a reality checkbut - the 800lb gorilla in the room what do I know? Dont let todays market volatility put your professional future on hold. AXA Advisors, LLC can help.
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By Elisha M. Prero, Esq. and A. D. Maclin, Esq.

Putting on Your Corporate Face

A fool learns from his own mistakes, Noah Weinberg used to say. But a wise person learns from the mistakes of others. Rabbi Weinberg, dean of Aish HaTorah, taught a generation how to apply principles of the Torah to business. His dictum had a kicker: At least be a fool. Question: What can you learn from mistakes of other start-ups? One lesson: structure your business up front in a way that will give you the flexibility you need later. So, youve crystalized your money-making concept and are ready to rock and roll. What are you going to be: a Limited Liability Company? Corporation? Limited Partnership? Does this stuff make your eyes glaze over? Nutshell: Picking a structure is largely about how you are going to have to pay taxes on money your business makes; how much youll be able to treat the owners of your business in different ways; and how much exposure you personally will have for your businesss liabilities. Each corporate structure on the menu comes with its own rules. Some really popular structures may not suit you at all. For example BOREDOM ALERT a flow-through entity (like a partnership, S corporation, or LLC) doesnt itself have to pay federal income tax. Its owners do. Specifically, its owners pay the tax on income thats attributable to them. Now, attributable is a curious notion. Imagine that instead of having common sense, you had federal-tax-bureaucrat sensibilities: guess what happens when this flow-through entity you own doesnt distribute to you any of the money it makes. CORRECT: you still can be liable for tax on that income your pockets never saw. Sweet deal Brought for Uncle Sam, eh? How would this play out? Karen Client comes to us with a problem: the S-corporation she co-owns did well last year, and she owes substantial tax. But her co-shareholder, Lucifer, controls the finances and is trying to force her out of the company. Karen and Lucifer never signed a minimumdistribution agreement, and Lucifer isnt distributing any of the money the company earned last year. Does Karen still owe tax on attributable amounts her business hasnt paid her yet? She does. And shes feeling kinda stuck. Correction tends to cost more than prevention, as it does here. We assemble a team of litigators and financial professionals and eventually negotiate a deal in which Karen becomes the companys sole shareholder. Now she controls the companys finances and can distribute money to pay her taxes. Happy ending. Avoidable problem. Point is, to avoid locking yourself into financial conditions youll regret, either A. Master the pros and cons of the various corporate structures yourself. (Bright people with researching skills can do this: you learn enough about each kind of entity to choose one that fits you -- and enough about its pitfalls to have the right protections in place from the beginning.) This autodidactic approach builds mindstretching skills that serve an entrepreneur well. B. Or, hire a professional whose experience substitutes for your mastering corporate-structure issues yourself. This approach costs less time and more money. But if you pick the right professional, you quickly can get a great deal of the benefit that comes from learning from the mistakes of others.
Prero and Maclin are consultants with Blue Pencil Inc., Chicago (adm@ bluepencilinc.com). In various capacities over the past quarter century, they have been advising companies on how to avoid making mistakes others already have paid for.

Networking 101: What should I be doing to gain the competitive edge?

Where: Teleseminar - participate by phone, details provided upon registration When: Tuesday, August 9, 2011 - 12:00pm

to you by jewishb2bnetworking.com

Breakfast and Networking with West Ridge Chamber of Commerce

Where: Devon Fish & Pizza, 2848 W. Devon Avenue, Chicago When: Wednesday, September 14, 8:30am

The Fundamentals of Public Speaking

Where: Webinar - participate by phone or computer, details provided upon registration When: Tuesday, September 20, 2011 - 12:00pm

Small Business Legislative Forum

Where: Skokie Theatre, 7924 N. Lincoln Ave., Skokie When: Monday, September 26, 6:00pm

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