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General Membership Luncheon

Volume Number: March 2012
Newsletter Date: 032012

Date: Wed., March 28, 2012 Time: 11:30 am – 1:00 pm
Location: Edina Country Club Fee: $25.00/member $35.00/non-member

Presenter(s): Jim Mulder, Fmr, head of Assn, of MN Counties.

Greetings Chamber Colleagues

As we continue efforts to recruit new Chamber members and retain those that we have, the question which comes up is, what can the Chamber do for you? The Richfield Chamber of Commerce is the only organization in the City of Richfield whose sole purpose is to bring together the business and professional people of the city to create a better business environment.

We are all busy with our professional responsibilities and the day to day requirements of our business and career. The Chamber Board has created avenues to help you easily stay involved with the pulse of the Richfield business community. It’s my job to remind you….. I’d like to highlight some of those this month.

1. Networking: As a small business, this is important for professional mentoring and growth. Please join us before and after all monthly membership meetings to get to know your Chamber colleagues. We’re also out visiting businesses every Tuesday morning, thanks to the efforts of our Meet and Greet committee. In the past we’ve also sponsored speed networking, coffee breaks and after hour events. Perhaps you’d like to host one of these at your business and invite others to see what you’re all about?

2. Marketing – Are you a Fan of the Chamber on Facebook? Send us any happenings in your business and we’ll post them on the Chamber Facebook page. It could be a sale, an anniversary, promotions, or pictures of an event. We can also promote events on our website. If you would like to sponsor a membership luncheon you can for only $100. You’ll get an opportunity to set up a table, give handouts and speak to the audience during our program. Banner ads on the Chamber Website are $100 per quarter, for up to three businesses. If you don’t have access to designing an ad, I will offer the services of my talented Store Manager David to help you. An insert in the monthly newsletter costs only $25. That’s 8 ½ x 11 inches of whatever you want to say about your business!

3. Economic Development – Thanks to the efforts of past Board Chairs, the Chamber has been very involved in driving economic development within the City of Richfield. There are MANY projects currently underway in our community and more in the pipeline. We’re looking forward to seeing these new businesses join our Chamber!

Smarter budgeting for better results

Business owners and managers don’t go a week without paying attention to their company’s bottom line. Number crunching is likely drawing extra scrutiny these days with Tax Day around the corner. It’s reasonable to ask: Am I receiving the greatest return for the taxes I pay?

Ensuring profitability is top of mind for businesses. As they prosper, so do their employees and their communities. Yet, many companies are staring at less than desirable balance sheets in today’s fragile economy. While government may resort to increasing taxes and fees to boost its income, businesses must be cautious. They run the risk of lower sales – and reduced profits – if they increase the cost of their goods and services.

The solution? Businesses must become sharper in controlling costs and more creative in delivering their processes. The Minnesota Chamber of Commerce is sending the same message to policy-makers – with urgency.

The state general fund – at present – has a projected surplus for the two-year budget cycle that ends in June 2013. But the budget structure remains out of balance in the long term. An aging population is at the root of the problem. As we grow older, we demand more public services. At the same time, our workforce
is shrinking and fewer individuals are paying the taxes to support the necessary public services.

We’re not going to change those demographics, so government must become smarter at how it budgets. Yes, businesses recognize that government is obligated to deliver programs in good times and bad times. Public health offices cannot simply deny services to Minnesotans when tax collections fail to keep pace with costs.

Government, however, can adopt the entrepreneurial spirit we see displayed by companies across this state. Businesses stake their everyday livelihoods on the ability to re-examine and rethink their operations. Government must do so, too. Budgets must be focused on priorities and outcomes rather than inflationary increases and formulas that might not deliver the results Minnesotans demand.

The Minnesota Chamber of Commerce and its local partners are confident that government can display that same level of creativity. In fact, it’s being done. Results-oriented budgeting is a three-step process: Agree on total revenue, set priorities, and measure the outcomes of priority programs. Done correctly, the results deliver financial savings and better public policy. Witness the state of Washington that had allocated more money to reduce student class sizes on the assumption that student learning would improve. The data collected showed that smaller class sizes did not have a positive impact on student achievement. The money subsequently was redirected to produce better results.

Local governments across Minnesota are paving the way as well. Hardly a week passes without headlines trumpeting another example of governments exploring and collaborating in public-sector and public-private partnerships to deliver quality services at a lower per-unit cost.

Creativity and innovation with a focus on results have enabled businesses to survive the recession and, in many instances, emerge stronger. Similar principles must guide government if Minnesotans are to succeed in our post-recession “New Normal.” Let’s lay the groundwork for outcome-based budgeting this year so we may have a more productive session in 2013 when lawmakers will likely be challenged once again to balance the state’s checkbook.

David Olson, MN Chamber of Commerce president

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