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Sonabank P.O.W.E.R. Plug Podcast for Women in Business

Are you a woman who wants to charge up her business? You’re in the right place! This is the P.O.W.E.R. Plug Podcast by Sonabank where we believe in the Potential of Women Entrepreneurs Realized – and all women with an entrepreneurial spirit. In each episode host Mary Foley talks with women in business who shares their practical advice, tools and tips to help build your business and keep you energized!
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Sonabank P.O.W.E.R. Plug Podcast for Women in Business
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Jul 1, 2020

As reopening happens, chances are you are considering what you need to do for customers and clients to hire you or buy from you again. Or, you might be thinking about launching a new product or service or maybe some new positioning or pricing. You truly want to hit the mark, but you are not quite sure what is the best decision.

Market research is the key to knowing what your consumers want and what they are willing to pay for it. If an established market research firm seems out of reach to you, this podcast includes important information that is especially relevant as we begin reopening our businesses.

In this episode, host Mary Foley speaks with Stacy Thomas, President of Good Run Research of Richmond Virginia. As experienced market researchers, Stacy and her team help new brands build presence, and established brands maintain relevance. Getting to know a clients' customers is their passion. They are seriously good at translating a customer's actions into marketing insights, and those insights help clients make business decisions with confidence.

During a run ten years ago, Stacy had the vision to create a marketing firm that maintains the integrity of research science but also embraces the spirit of humanity. That idea is still the central motivation of Good Run Research.

Listen and learn:

  • Market research: What it is and how your business can benefit from it
  • The shifts in purchasing caused by the pandemic
  • The risks associated with not adjusting to changing market drivers
  • How market research helps business owners set business goals
  • How small businesses can do market research without a big budget
  • Market research best practices for small business owners
  • Common mistakes business owners make when it comes to market research

 

Good Run Research

Stacy@goodrunresearch.com

May 6, 2020

Research reveals that self-doubt is the number one emotion we all have in common. When we unconsciously criticize, judge, or talk harshly to ourselves we do more harm than good. So, if beating ourselves up isn’t the answer what is? How do we become aware of our dragons of self-doubt, effectively slay them and keep them from rearing their ugly heads? If you are ready to slay what is holding you back from getting the life you want, this podcast is for you. 

 

In this episode for performance-driven women, Host Mary Foley speaks with Katherine Wintsch, CEO and Founder of Mom Complex and author of the life-changing book, Slay Like a Mother: How You Can Destroy What’s Holding You Back So You Can Live the Life You Want. Katherine left a position at a nationally recognized ad agency to do her own thing. Today, she dedicates her life to making the lives of mothers easier by working alongside Fortune 500 companies to help them develop better products and better services for mothers. Katherine has been awarded the ‘Working Mother of the Year Award’ by the Advertising Women of New York and earned the title of "Woman of the Decade' from the Women's Economic Forum in India.



Listen and learn:

 

Listen and learn:

 

  • How to become aware of what is holding you back
  • Why it’s important to take time for yourself
  • Tips on how to be more kind to yourself
  • How to reassure, not criticize yourself
  • Ideas about how to reframe self-doubt
  • How to say no to others who ask too much of your time
  • Insights on accepting yourself for who you are



Mom Complex Website

Slay Like a Mother Website

Slay Like a Mother on Facebook

Slay Like a Mother on Instagram

Mar 30, 2020

We all are experiencing a dramatic and sudden charge to our personal and professional lives because of the Coronavirus. First, we want you to stay safe, stay positive and we’re here to help you stay POWERful.

 

Because of the crisis, it’s likely you are working from home and figuring out how to help clients, as well as connect with prospects. Currently, there are no in-person networking meetings or events. Which means now more than ever, you need to do virtual networking and do it well.

 

In this episode, host Mary Foley talks with four leaders of women’s networking groups about how they are helping their members stay connected and growing using virtual networking:

 

Lisa Shapiro is the CEO and Founder of DCFempreneur, a community supporting female entrepreneurs in Washington, DC.

 

Lee Ann Pond is the President of NAWBO Richmond, as well as Founder and CEO of Engaging Leadership where she helps companies develop their leadership.

 

Theresa White is the Managing Director of the eWomen Network chapter of Northern Virginia, in addition to her role as a Financial Planner at MassMutual Capitol District.

 

Shanna Kabatznick is the CEO and Founder of FABWOMEN, a community of fabulous women in business in the Richmond, VA region. She is also a bilingual trainer, speaker and consultant helping people break down barriers and authentically engage with one another.

 

Listen and learn:

 

  • Why it’s important to stay connected virtually, especially during a crisis
  • Creative ways to replace in-person meeting and events using online tools
  • Advice about what to do and what not to do to make new connections in a virtual world
  • How virtual networking impacts introverts, extraverted, and ambiverts differently
  • Hidden opportunities with virtual networking because of the Coronavirus crisis
  • The biggest mistakes a woman in business could make right now with virtual networking

 

Lisa Shapiro

https://dcfempreneur.com/

 

Lee Ann Pond

http://nawborichmond.org/

https://engaging-leadership.com/

 

Theresa White

https://www.ewomennetwork.com/

https://capitoldistrict.massmutual.com/

 

Shanna Kabatznick

https://fabwomen.me/

https://shannak.com/

Mar 20, 2020

Only 17% of the US population is using a financial advisor, says a 2019 CNBC study. So, why aren’t more people investing time in retirement planning or using a financial advisor, especially women who are more likely to be in charge of household finances? Successful women aren’t likely to focus on investments or financial goals because they haven’t found an advisor they trust or one who listens to them. Women face unique challenges their male counterparts may not understand and it creates a lack of confidence in male advisors. 

 

As we grow our businesses and generate profit how can we be smart and savvy about taking care of our personal financial goals and wellbeing?

 

Host Mary Foley speaks with Emily Robbins, Account Vice President at Virginia Asset Group and Financial Advisor at Infinex Investments, about how successful women can integrate all aspects of their lives into their long and short term financial goals. Emily has over 10 years of experience in the Banking and Finance Industry, and she works with individual investors and corporate clients to achieve their financial goals. Emily became a financial advisor to help her banking clients who felt they were not being listened to. When she's not helping her clients she can be found spending time with her husband and children, in Chesapeake VA. 

 

Listen and learn:

 

  • The financial challenges women face in retirement planning and investments
  • The reasons women procrastinate about addressing their financial plans
  • How to create your individual retirement goals
  • The importance of estimating a retirement budget
  • The risks of not working with a qualified financial advisor
  • How to quantify your future goals 

 

Virginia Asset Group

erobbins@virginiaassetgroup.com

Jul 8, 2019

Venture capital is a term you may associate with the TV show Shark Tank or as the primary funding source behind big companies like Facebook, Starbucks, and Uber. But what is venture capital funding and how can you use it as part of your business growth strategy? When it comes to financially supporting your business, can you use venture capital to expand when a traditional loan is out of reach? And, how do you know if your business has the high-level metrics, market traction, and scalability private equity investors are looking for? 

 

To break down venture capital into bite-sized, easily digestible pieces, host Mary Foley speaks with Liz Doerr, co-founder and fractional CFO of Sandbox. Sandbox is an outcome-focused team of finance, operations, and employee consultants helping companies launch, grow, and monetize their emerging businesses. Liz co-founded the company because she is passionate about helping entrepreneurs get the funding they need to become successful.

 

After hosting an event for women investors where the number of women who attended was more than double what she expected, Liz co-founded Virginia Women in Venture with a group of her mentors. She finds inspiration in helping women find their place in the venture capital and private equity space.

 

Listen and learn:

 

  • Venture capital basics
  • The difference between public and private companies
  • When to turn to venture capital investment over traditional loans
  • What venture capitalists look for when deciding to invest in a business
  • How small business owners can utilize venture capital investments
  • Examples of businesses who successfully secured venture capital funding
  • Timelines and options of private equity funding
  • How likely women are to receive venture capital funding
  • Opportunities for women to invest in private companies
  • Diversity issues that exist in the private equity space


Work Hard Play Nice - Sandbox Website

Liz Doerr on Linkedin

Virginia Women in Venture

Jun 7, 2019

When you started your business, did you pick a bank based on convenience because a bank is a bank is a bank, just a place to store money and pay bills? What if there was a bank leading a movement for women entrepreneurs and all women in business with an entrepreneurial spirit? Would that make a difference?

 

According to a 2017 study published by American Express, women are opening 1.5 times the number of businesses than men. Over the past 20 years, the number of women owned business has grown 114% and there are an estimated 11.6 million women-owned businesses in the U.S. Sonabank noticed this powerful trend and decided these women deserved more from a bank.

 

Host Mary Foley speaks with Joe Shearin, CEO of Sonabank, about how the idea for the P.O.W.E.R. program came about, why it’s become a movement of entrepreneurial-minded women, and the impact of the most powerful woman in his life.

 

Listen and learn:

 

- How P.O.W.E.R. got started

- The role of the bank’s Board of Directors in launching and continuing to support P.O.W.E.R.

- The program’s key benefits that make of P.O.W.E.R. make than a bank

- Why P.O.W.E.R. has become a movement of women entrepreneurs and all women in business with an entrepreneurial spirit

- What the future of P.O.W.E.R. looks like

- 6 tips on making your business successful from 38 years of banking experience

- The financial measurement for your business that matters more than revenue growth

- The most powerful woman in Joe’s life and the impact she’s made

 

Sonabankpower.com

Mar 6, 2019

Many small business owners and entrepreneurs find business or personal travel planning a stressful endeavor. There are a multitude of components that go into having a great travel experience. Circumstances arise when logistics change, online offers expire, travel companions need separate arrangements, or a client mandates an alternative meeting time. Utilizing the services of a Travel Advisor can make your travel more productive, more affordable, and help you grow your business.

 

Plus, travel incentives are the best way to demonstrate how much you appreciate your high-performers and get team members out of the office in a diverse and fun environment.

 

Host Mary Foley speaks with the CEO of Tour Plan International, Stella Capocelli Carter about the exciting world of business and personal travel. Stella has been a travel industry insider since 1982. During this episode, she shares the top travel tips rarely shared by the travel industry, how organizations can save big money on group excursions, and inventive ways companies can use incentive travel to build relationships between nationwide teams and to retain valuable employe.

Listen and learn:

 

  • The questions you should be asking yourself before you make your travel plans
  • How to manage your travel spending
  • How to be savvy and smart when traveling
  • The difference between a travel agent and a travel advisor
  • Top 5 reasons to use a travel advisor
  • Why it is important to build a relationship with a travel advisor you can trust
  • How to use travel to grow your business
  • How incentive travel programs work
  • Key benefits of using a travel advisor
  • How to use incentive travel to motivate your workforce and increase customer satisfaction and brand loyalty

 

Tour Plan International Website



Feb 6, 2019

As a small business owner chances are you have a website, are doing some social media, and maybe even consistently post a blog or videos. But, is that enough? What else should you be doing? What are the digital marketing trends you need to know? How can you figure out if any digital marketing really works for your business?

 

In this episode, host Mary Foley talks with two women who are a powerhouse of ideas and expertise on digital marketing. Michelle Simon is the Chief Marketing Officer of Sonabank in Virginia and Maryland and co-founder of the original P.O.W.E.R. Program. Tammy O’Shea the Chief Marketing Officer of Fidelity Bank who brought the P.O.W.E.R. Program to New Orleans.

 

Both are successful bank marketers. Both are on the American Bankers Association Marketing Advisory Board. Both are letting us tap into their big brains and even bigger hearts to learn how you can get smarter about your own digital marketing efforts!

 

Listen and learn:

 

  • Between website marketing, SEO, email marketing, social media marketing, blogs, videos, apps, and more (phew!), exactly what is digital marketing

 

  • The most important digital marketing trends you need to know

 

  • How organic reach is dying and why Facebook isn’t “Freebook”

 

  • How much you should spend on digital marketing

 

  • When videos for your business should be professionally produced or created on the fly

 

  • Why being real and authentic is more important than perfect messaging

 

  • How to inspire others to freely and enthusiastically get involved in your digital marketing efforts
Jan 2, 2019

Do you want to scale your business for bigger revenue and growth? How do you know if you are truly ready? Even more, how do you truly scale not just any business but YOUR business? How will you figure that out?

 

In this episode, host Mary Foley talks with Tracey Wiley and Rita Ricks. Tracey is the Executive Director of the Small Business Supplier Diversity agency (SBSD) for the State of Virginia, which has a whole bunch of resources to grow your business, including their signature program called Scaling4Growth. Rita Ricks is a seasoned spiritual business coach who has contracted with the SBSD to lead this powerful, six-month program.

 

Listen and learn:

 

  • What Virginia’s Small Business Supplier Diversity agency (SBSD) provides that’s so much more than certifications

 

  • Who the Scaling4Growth program is designed for and why it’s totally free (surprise!) for Virginia small business owners

 

  • Knowing when it’s time to scale your business and what it truly takes to make it happen

 

  • The four essential topics that make up Scaling4Growth and the intense process business owners take to apply them

 

  • The big tangible take-away every small business owner gains by participating in the Scaling4Growth program

 

  • The difference Scaling4Growth has made in real revenue and new jobs for real Virginia small business owners

 

  • How to apply to be part of the next Scaling4Growth program
Dec 5, 2018

Think your small business is too small to be at risk of a cyber security attack? Think again. The frequency and cost of a single cyber attack is staggering. If you’re feeling a little anxious about staying secure in our digital world, you’re not alone. It can be scary, but today’s guest will share how to keep your businesses safe and thriving!

 

In this episode, host Mary Foley talks with Cody Sheflett, Chief Information Officer of Sonabank about cyber security. If he can keep a bank cyber secure, imagine what advice he can offer for your small business!

Listen and learn:

 

  • The shocking frequency and average financial loss of a cyber attack on small business

 

  • Why your business is not too small to be attacked by cyber criminals

 

  • What a cyber security threat often looks like

 

  • The first thing you need to do when you identify a cyber security threat

 

  • 6 practical tips to keep your small business from cyber secure

 

  • What needs to be in a cyber security plan for your business

 

Plus! Cody recommends these resources to help you create a cyber security plan for your small business!

 

Click here for “Stop. Think. Connect.” from the department of Homeland Security

 

Click here for “Start with Security” guide and videos from the Federal Trade Commission

 

Click here for the “Small Firm Business Continuity Plan” template from the Financial Industry Regulatory Authority

Nov 7, 2018

Have too much to do and not enough time to do it? Like every day? Better time management skills are here to save the day! Or, maybe not. Today’s guests say our approach to time management is all wrong and share what really works to bring sanity to our schedules and lives.

In this episode, host Mary Foley talks with Dr. Sherri Yoder and Crystel Smith, pioneers of the You-centered movement. Through coaching, keynote speaking, workshops, writing and more, Dr. Yoder and Crystel are dedicated to helping individuals discover, develop and deliver their talents and transform their organizations.

Listen and learn:

  • Why you can’t manage time
  • Whether the phrase “Life got in the way” is a reality or an excuse
  • What we do to increase our stress about managing our time
  • 3 some practical ways we can align our values with our calendars
  • A simple tip to plan your schedule before your schedule plans you
  • One question that will make saying “no” a lot easier
Sep 19, 2018

Chances are you have joined a Facebook group for a personal interest or to learn a new business skill, but have you seriously considered how to leverage Facebook groups to grow your business? It may be easier – and smarter – than you think! Today’s guest will explain!

 

In this episode, host Mary Foley talks with Sharvette Mitchell, owner of Mitchell Productions, who is a social media coach, web designer, speaker and host of a 10-year running radio show. She helps female entrepreneurs who struggle with attracting attention and exposure for their brand to build their online platform and make money, including using Facebook groups.

Listen and learn:

 

  • Why Facebook groups are an important part of a smart marketing strategy
  • The types of Facebook groups and when to use each
  • The difference between a Facebook group and business page and why you need both
  • 3 specific strategies to leverage Facebook groups to build your business
  • The biggest mistakes small business owners make when it comes to Facebook groups
Sep 5, 2018

Just how important is social media marketing for your small business? Which social media platforms are the best for connecting with prospects and promoting your business? Should you use paid advertising on social media or is it a waste of time and money? Get answers to these questions and more as you consider creating a social media marketing strategy for your business.

 

In this episode, host Mary Foley talks with Shannon Loy, owner of The Social Ginger, a social media consultant who understands that as a small business owner you may not have time to eat your lunch, much less create sparkling content to post on social media every day. That’s why she and her team do social media strategy, management, advertising, and training for small business owners.

Listen and learn:

 

  • Startling research that reveals just how much time people spend on social media
  • Which social media platforms you should seriously consider for marketing your business
  • If you or should not separate your personal and business life on social media
  • The best number of social media platforms to be on to promote your business
  • The biggest social media marketing mistakes that small business owners make
  • Why Facebook advertising is so popular and what to know before you get started
Jul 25, 2018

As a small business owner competing for talent, making smart decisions about employee benefits is strategic. What benefits do employees want most? How can you use benefits to attract, retain and keep employees engaged? What are the trends in employee benefits that go beyond traditional medical, dental or vision coverage?

In this episode, host Mary Foley talks with Shanita Byrd, Senior Vice-President and Chief Human Capital Officer at Sonabank. A key aspect of Shanita’s role is attracting, engaging and retaining the very best people. Today we tap into her expertise on one topic that every potential employee is interested in – employee benefits.

Listen and learn:

  • What small business owners need to consider before setting up an employee benefits plan
  • How many employees is enough to consider offering medical, dental, or vision benefits
  • How to determine what benefits employees want most
  • What benefits small business owners can offer even if the cost of offering a medical, dental, or vision benefits are prohibitive
  • Surprising trends in employee benefits to attract and engage great talent
  • The 3 big mistakes small business owners make creating employee benefit plans
Jul 10, 2018

Whether it’s your first employee or your tenth, hiring people to grow your business can feel daunting, especially in a competitive talent marketplace. What is the very first step to hiring the right person for the right job? What can do during the interview to make sure the candidate is a good fit? What are the hiring best practices of success small business owners?

In this episode, host Mary Foley talks with Mindy Flanigan, Founder and Chief Inspiration Officer of Inspiring HR where she and her team specialize in employee management basics for small business. Her service model HR-SURE® says it all: Human Resources that is Simple, Understandable, Relevant and Empowering.

Listen and learn:

  • The latest job pool and employment trends impacting hiring employees
  • The #1 thing you need to do before talking with anyone about any position
  • What you need to know about yourself as a business owner to effectively hire and retain Millennials
  • 5 essential hiring best practices of successful small business owners
  • How to use the 70/30 Rule during an interview to truly assess a job candidate
Jun 13, 2018

If you could place yourself in an environment where you could work, interact with other entrepreneurs, and immediately tap into expert advice that could dramatically increase your success without breaking the bank, would you do it? Then you need to join a business incubator! What is a business incubator? How does it work? And, more importantly, why should you care? Listen in to find out.

In this episode, host Mary Foley talks with Gisele Stolz, Director of the Business Incubator at the Mason Enterprise Center affiliated with George Mason University. Located in Fairfax, Leesburg and Warrenton, VA, the mission of this powerful community resource is to provide the infrastructure, support, training and expertise for emerging, growth businesses to succeed. Well, rock, actually!

Listen and learn:

  • 4 powerful trends impacting every business
  • The biggest mistake entrepreneurs make when they first start their business
  • 3 critical factors that directly influence your entrepreneurial success
  • How a business incubator can bump your business survival rate to 90%!
  • Why all incubators are not the same and what to consider when choosing one
May 15, 2018

When you’re ready to grow your business to the next level and need an influx of capital to do it, a great option to consider is a Small Business Administration (SBA) loan. However, too often small business owners believe that the SBA lending is confusing, difficult, and shrouded in mystery. Well, no more! We’re going to find out the real deal so you can determine if this is a resource for you – now or in the future.

 

In this episode, host Mary Foley talks with Marie Taylor Leibson, Senior Vice President of Commercial Lending for Sonabank who is responsible for a full range of lending options including government lending programs including the Small Business Administration (SBA). She teaches workshops and seminars to educate, inform and inspire small business owners about lending. In 2014 Marie was the SBA Richmond District office Financial Services Champion of the Year!

 

Listen and learn:

 

  • The most common reasons small business owners need a loan to grow their business
  • The essential differences between a Small Business Administration (SBA) government loan and a conventional bank loan
  • The different types of SBA loans and which one is the most common
  • Three key assessment areas you need to have in place before applying for a SBA loan
  • The biggest mistakes and misconceptions small business owners make when applying for a SBA loan
  • What every small business owner and entrepreneur can do today to make themselves credit worthy for a loan in the future

 

Apr 18, 2018

Which business entity should you choose to start a business and why? Sole Proprietor? Limited Liability Corporation? C Corp? When should you change your entity as your business grows? How have the new tax laws impacted business tax rates? Know the answer is key. Choosing the right business entity directly impacts how much tax you pay and legal liability.

In this episode, host Mary Foley talks with Joye Sistrunk, Principal/Founder of Premier Group Services (PGSI), a Certified Public Accounting and Management Consulting firm in Lanham, MD.  As she and her team helps business owners, she finds again and again that business owners need to figure out the best entity for their business as they grow and change.

Listen and learn:

  • Exactly what is a “business entity”
  • The difference between a Sole Proprietor, LLC, S Corp, C Corp, and B Corp
  • How to decide which business entity is the best when you start and as you grow
  • How the new tax laws have made C Corps the lowest corporate tax rate in over 100 years
  • The financial and legal impact of choosing the right business type – and the wrong one
  • The biggest mistake and misunderstandings business owners make regarding business entities
Mar 20, 2018

We all want to be prosperous, but what is the secret to being financially successful? What holds so many back from true financial prosperity? Are we making money mistakes without realizing it? These are questions many women ask themselves and we dare to discuss.

In this episode, host Mary Foley talks with Sorana Blackfoot, founder of Un-Broke Women, where she is a Prosperity Mentor who teaches women to create, preserve and transfer wealth. Originally from Romania, Sorana has been in Richmond, VA since 2002. In her new book, “New World, New Dreams: My Money Story” she shares her own journey to building a better relationships with money so you can, too.

Listen and learn:

  • Why financial prosperity is more than financial freedom
  • Common money mistakes that hold us back from achieving the prosperity we really want
  • Keys to shifting your money mindset from scarcity to abundance
  • How money will make you more of who you already are
  • Sorana’s money lessons moving from Romania to U.S. that changed everything
Feb 27, 2018

March 8, 2018 is International Women's Day, a day where all nations recognize and celebrate the social, economic, cultural and political achievements of women around the world!

 

To celebrate, we want to explore how women especially have bridged cultural gaps and differences to be successful in today’s multi-cultural world and marketplace.

 

In this episode, host Mary Foley talks Shanna Kabatznick, who came to the United States from Ecuador as a young woman and stayed to start her family and build a successful career. Today she is a Sales Strategist with over 20 years’ experience in the financial services industry and Founder and CEO of the community called FABWOMEN.

 

Listen and learn:

 

  • Shanna’s surprising story of why she came to the United States
  • What she was shocked to learn from her first experiences alone in the U.S.
  • How Shanna responded when people asked her where she was from
  • What she did to adapt to the most personally challenging aspect of the U.S. culture
  • Her secret to bridging cultural gaps that made all the difference
  • How bridging cultural differences has played a direct role in what she does today
Feb 19, 2018

Did you know that according to USAspending.gov the federal government alone spends over $74 billion with contractors? And that $6.9 billion of that was awarded to companies and business in Virginia, second only to California?

Have you heard that winning a contract or selling to local, state or federal government is tedious or cumbersome? Or that government only buys from the “big guys”?

The reality is that local, state and federal government are organizations that spend a lot of money with all sizes of private sector businesses for the products and services they need. Though their purchasing process is different, it’s not necessarily difficult – and can be very profitable.

In this episode, host Mary Foley talks with Tammy Farmer, founder of Government Marketing, who has over 25 years of experience in the Supply Chain where she gained valuable purchasing and inventory experience as a buyer in the local, state, and federal government. Today she and her team educate and assist small business owners about navigating the government procurement process so they can win contracts.

Listen and learn:

  • Why selling to the government is a savvy way to grow your business
  • How to easily determine if government buys your type of product or service
  • The difference between selling to local governments, the State of Virginia, and the federal government
  • Which certifications are required or advantageous to sell to state or federal government
  • The surprising amount Virginia State agencies can spend using “Quick Quotes” to speed up purchasing
  • Top challenges to selling to the government market that can be easily overcome
Feb 7, 2018

Do you know what you want to happen when you exit your business? Your business is a financial asset like stocks, bonds or real estate that can fund your retirement, but only if you have a strategic business succession plan. How do you determine what your business is worth? What can you do today to increase the value of your business for the future?

 

In this episode, host Mary Foley talks with Ellen Mcilhenny, a Certified Business Transition Expert with B2B CFO with 20 years of experience as a Chief Financial Officer and controller. Ellen knows the ins and outs of everything that touches the finances of a business, including how larger businesses acquire smaller ones. Today we tap into her experience and insights to help small business owners consider their own business succession plan.

Listen and learn:

 

  • What is business success planning and why it is critical to your financial future
  • How to figure out what your business is worth
  • What you can do now to increase the value of your for a future buyer
  • The challenge of increasing the worth of any service-based business
  • The biggest financial mistake (and regret) most small business owners make
  • What savvy business owners do to stay financially smart about their business
  • Why retiring Baby Boomer business owners may make your business far less valuable
Jan 24, 2018

For many, owning a home is one of the biggest financial investment you will make. Do you know how the new tax law impacts your mortgage or Home Equity Loan write-offs? Should you refinance your home or purchase your first one? Will mortgage interest rates still remain low or are they forecasted to increase?

In this episode, host Mary Foley talks with Tiffany Barber, veteran mortgage specialist with Southern Trust Mortgage, a Sonabank partner that is headquartered in Virginia Beach with retail branches throughout the East Coast. They are a big supporter of the P.O.W.E.R. program because they are truly interested in helping women not only get the best rates, but also making the process as easy as possible.

Listen and learn:

  • The impact of the new tax laws on writing off interest on mortgages and Home Equity Loans (HELOCs)
  • Why you should consider re-financing now rather than waiting
  • What are typical mortgage interests rate today and what is forecasted for 2018
  • How mortgage rate trends impact first time home buyers, second homes, and investment properties differently
  • The most common mistakes well-qualified people make when getting a mortgage or re-financing a home
  • The process of getting a home loan and what to expect
Dec 19, 2017

You pay by credit card all the time for your business and personal expenses. But, are you accepting credit card payments from customers and clients? If so, are you using the most appropriate devices for how your business operates? Do you know if you are paying a competitive transaction fee?

In this episode, host Mary Foley talks with Forrest Shearin, Assistant Vice President of the Mid-Atlantic region for BluePay, who partners with Sonabank to provide merchant services to all bank customers, including P.O.W.E.R. customers.

It’s a big credit card processing world out there and Forrest will share how to simply and maximize it for your business. 

 

Listen and learn:

  • What exactly are “merchant services”
  • What kind of businesses and organizations currently use merchant services. (You might be surprised!)
  • The latest trends for credit card transactions business owners needs to know
  • Transaction fees you should be getting to maximize your profit
  • What business owners need to consider when choosing a merchant service
  • The most common mistakes business owners make when it comes to credit card processing
Dec 13, 2017

If common wisdom is to set goals for your business, what do you do in uncommon times? Are 1, 3 or even 5 year business goals still relevant and effective? Is there a better approach that enables you to be responsive to changing conditions?

In this episode, host Mary Foley talks with Alison Conners, owner of Renaissance Executive Forums of Virginia, where she hosts peer advisory groups for CEOs, business owners and executives to help them intentionally grow their business. Her practical advice for responding to today’s ever changing marketplace turns traditional goal setting upside down.

 

Listen and learn:

  • Why traditional goal setting for your business does not work in a rapidly changing marketplace
  • A different, more effective approach to implementing your business strategy that enables you to be responsive to changing conditions
  • How to know when to seize an unexpected opportunity and when to stick to your plan
  • The biggest mistakes you see business owners and executives make that prevent them from successfully implementing their business strategy
  • A more practical approach to 1, 3 and 5 year business plans
  • The practical power of a having a peer advisory group to make smart decisions and stay adaptable
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