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If you are a business owner, manager, banker or anyone who has a say in the finances of a business, small or large – you need to take this class. I can’t believe that even the most savvy finance gurus wouldn’t get a lot out of this class. It’s a combination of videos, hands-on calculating and reading in your workbook and some discussion packed into four – 3 ½ hour classes. Your head will be spinning before it’s over – but wow is it worth it. I’m still digesting all that I’ve learned and can’t wait to start applying my newly-acquired financial management skills to my business.

Here are some of the most important things I learned:

• Seven of 10 businesses fail in the first five years.

• Most business owners and employees believe that if a business is not successful, all it needs to do is increase sales and profitability will go up. Not true. As sales increase, cash often goes down, not up.

• Every business owner should know their yearly fixed and variable costs, contribution margin percentage and “break even” point. Without these, you can’t set profit goals Think of profit as a fixed cost.

• Know how to do financial gap analysis so that you can understand the costs and related consequences of growth. Make sure the financial house is in order now so that as you grow, decreasing efficiencies will have a lower negative financial impact.

• Don’t borrow if you can’t pay it back.

• A business is typically worth what it can raise in cash flow.

• Every business needs a transition plan (this one hurt-I hadn’t given much thought to this).

Some of the main things you’ll learn in this class are how to use financial statements as management tools for your business; how to implement effective costing and pricing strategies; understanding, predicting and controlling patterns of cash flow; effectively managing growth; and, dealing successfully with a bank-if your business model requires a loan. I know, most of us don’t even want to think about this stuff. Math can be scary. When it comes to business ownership, for some reason we convince ourselves it’s better not to know.

But get this — 80 percent of the people running businesses today do not understand the general principles of profit mastery. If they did, just think how many more successful businesses there would be-and the impact that would have on our economy.

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Girl Scouts of Alaska has a few more cases of Samoas, Thin Mints and Tagalongs. The cookies will be sold by the case on a first-come, first-served basis next week, May 9-13. Just come to the Girl Scouts of Alaska office at 3911 Turnagain Blvd. East between 9 a.m. and 5 p.m., Monday through Friday, May 9 to 13. Cookies cost $48 per case, and each case has 12 boxes of cookies. Of every case sold, $36.12 stays right here in Alaska and is used to fulfill the Girl Scout mission to build girls of courage, confidence, and character, who make the world a better place.

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Anchorage-based Photographer Carl Johnson has won the “Environmental Issues” award in the 2010 Windland Smith Rice International Awards sponsored by Nature’s Best Photography magazine. Johnson’s photo “Wolf Tracks on Ice” is one of 18 award winners that went on display at the Smithsonian Museum of Natural History April 16.

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Media relations still relevant in a shifting media environment

“Media relations [http://en.wikipedia.org/wiki/Media_relations] involves working with various media for the purpose of informing the public of an organization’s mission, policies and practices in a positive, consistent and credible manner… Media relations refer to the relationship that a company or organization develops with journalists.” – Wikipedia.org

With newspaper staffs shrinking to one or two reporters and the day of in-person radio reporting becoming nearly non-existent, a good number of Alaska nonprofits may erroneously conclude that the importance of media relations within their marketing/public relations plan has sunk to an all time low. I’d argue that exactly the opposite is true.

While more and more people are choosing to get their news and information from a variety of digital sources – keeping connected through print, radio and TV news is still important. Because staffs have tightened, however, it’s no longer as easy as sending in a news release and seeing your story in the paper or datebook calendar the next day. That is why it is still important to foster relationships [http://www.rasmuson.org/_attachments/reporters.pdf] with local media. Here are some tips on how to go about it.

Face-to-face
Think of it as media relationships, not media relations. Knowing reporters is still important. The day that a crisis hits your nonprofit agency is not the time to be scrambling to introduce yourself to a reporter. Most editors and reporters are willing to meet for a cup of coffee or for lunch. Check to make sure they’re OK with you paying for lunch (different media outlets have different policies on this – and don’t argue if they need to go “Dutch treat”). You don’t have to have a specific pitch, and it might even be better to schedule a meeting when you just want to share an update on your agency. Put together a list of future story ideas with possible timelines. Promise to let the media person know the next time there is a story opportunity – and remember to follow through on that promise.

Social media
Many media people and outlets are active in social media. Popular platforms today include Facebook [http://www.facebook.com/] and Twitter [http://twitter.com/]. Make sure you follow the media outlets you work with, and make your presence known. Comment on their Facebook posts. Throw out story ideas when they ask for something that fits with your organization. Give them story leads, even when it doesn’t benefit you or your organization. They’ll remember that you were helpful, and they’re more likely to cover your story once you’ve established yourself as a reliable and credible news source. Media often message me on Facebook, so I set my smartphone to message me when I get a message via Facebook, ensuring that I’ll be timely in responding to requests.

Professional organizations
Several professional organizations in Alaska give annual opportunities to interact with media including American Marketing Association (AMA)-Alaska Chapter [http://www.amaalaska.org/], Public Relations Society of America (PRSA)-Alaska Chapter [http://www.prsaalaska.org/], Alaska Professional Communicators (APC) [http://www.akprocom.org/] and Alaska Press Club [http://alaskapressclub.org/]. PRSA usually has media panels or roundtables during monthly membership luncheons where you can directly interact with media. Several members of Alaska’s media are members of APC. AMA often features media as monthly luncheon speakers. Alaska Press Club also is a great way to get to know working press. You can join as an Associate member for $45 a year. The Press Club’s Journalism Week, which is usually held in March or April each year, includes workshops and speakers that are relevant to media, as well as to public relations and marketing professionals. The awards banquet and social functions during J-Week offer great opportunities to meet media, especially representatives from Southeast Alaska and rural Alaska who might not get into the larger hubs of Fairbanks, Anchorage or Juneau very often.

Email
Most media get a LOT of email messages every day. So, your job is to stand out from the clutter. Be short and concise with your idea or pitch. One editor recently hinted that it’s a good idea to put Alaska in the subject line of an email, since she gets so many news releases that aren’t relevant to the Alaska market. Get to your point, and offer to follow-up with more detailed information or photos. Don’t bother sending attachments or huge photo files with your message – most media outlets won’t open them, and they’ll be really irritated if you clog their email box with large files. Ask how you can help, and make sure you answer calls or emails from media promptly.

Framing
Even as you develop year-round relationships with journalists that do not rely exclusively on story pitches, it’s advisable when the day finally comes to pitch your story that you present it from the human perspective. If your nonprofit offers social services, for example, frame your pitch [http://www.rasmuson.org/_attachments/Framing_Mar_07.pdf] from the perspective of the beneficiary; if your nonprofit promotes the arts, lead with an example of how the arts positively impact your community.

Looking for more tips? This article on 10 Ways to Make A Reporter Fall in Love with You also has some other great ideas, and the Rasmuson Foundation website includes a “Communications Toolkit” with links and tips here [http://www.rasmuson.org/index.php?switch=viewpage&pageid=145].

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