read Rochester Magazine.

you to flip this over and

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Rochester Magazine! We invite
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“BE PREPARED
FOR THE
LONG HAUL
HOW RAJEEB RATH HAS
BUILT A BUSINESS ON
BUILDING RELATIONSHIPS

WHAT SHE SAID DOES YOUR BIZ GENERATIONNEXT

NEED FUNDING?
A female perspective Up-and-coming biz
on business from Alli Vath. Who (and when) to ask. leaders, next gen advice.
 THIS CLINIC
OFFERS URGENT
CARE SERVICES
AND COVID-19 We determine work
TESTING. relatedness, reduce new work
comp injuries, offer OSHA first
aid, reduce recordables and
disability, reduce claim duration,
reduce wait times and missed
appointments, reduce HR and
safety time spent on complex
cases, provide immediate and
thorough work status updates,
expedite resulting and offer
onsite services.

THIS CLINIC OFFERS

URGENT CARE SERVICES
AND COVID-19 TESTING.

Your Health is our Priority

Urgent Care Virtual Visits Occupational Medicine
• Walk-in care • Visits from anywhere • Employee health services
• Insurance accepted • Convenient options for • OSHA testing
• Self-pay options patients & employers • First aid treatment

5507 Chateau Rd NW • Rochester, MN

Monday-Friday, 7:00 am-7:00 pm
651.508.0936 • compcareclinics.com
We are located right on Chateau Rd NW. Across 55th Street from Kwik Trip.
WWW.RIGGOTTPHOTO.COM
 THE POST BULLETIN COMPANY

PUBLISHER
CHRISTY BLADE

EDITOR
STEVE LANGE

ADVERTISING DIRECTOR
KATI COOLEY
KCOOLEY@POSTBULLETIN.COM

ADVERTISING
TESSA OLIVE
LISA SCHELL
ADVERTISING@POSTBULLETIN.COM

The most influential person in my career passed away last year. Gary Kimmel, DESIGN & LAYOUT
Salinas, Calif., was an amazing boss who inspired me to pursue a career in BETH KROHN
corporate finance and modeled collaborative and servant leadership in everything
he did.
CONTRIBUTING WRITERS
At that time, accounting staff were sometimes referred to as “overhead” or “clerks” LEE HILGENDORF
who were paid to crunch numbers, but not expected or encouraged to know what
ALICIA MULHOLLAND
those numbers represented or think beyond the accuracy of their work in their
JOHN SIEVERS
own department.
Gary and I were both new to an organization that had been the victim of an
embezzlement from a previous employee. Most financial records had been seized
for prosecution in the criminal case and there was no staff left who knew exactly COVER PHOTOGRAPHER
how the financial software was programmed. DEAN RIGGOTT

Gary instilled in me a sense of curiosity and the importance of finance in the big
picture of an organization. He was happy to share his knowledge and ask for my CONTRIBUTING PHOTOGRAPHERS
input. Above all else, he trusted me and treated me as a colleague. I learned so JOE AHLQUIST
much in that year, not just about accounting and finance, but about the kind of DEAN RIGGOTT
leader I wanted to be. When my husband was transferred to Italy, I was truly sad TRACI WESTCOTT
to leave.
I called Gary a few years ago and thanked him for the role he played in my career.
Thank you for supporting local journalism,

Christy Blade Volume one I Number three

Publisher, Rochester Post Bulletin PULSE is produced bi-monthly by the Rochester Post Bulletin
and distributed throughout Rochester, MN. No part of this
publication may be reproduced without written permission.

4 MAY 2022
 FEATURES
6
DOES YOUR BIZ (OR BIZ-TO-BE)
NEED FUNDING?
Area expert Sean E. Williams tells you who (and when) to ask.
And four local biz leaders tell you how they secured local
funding.

16
12 'BE PREPARED FOR THE LONG HAUL'
How Rajeeb Rath has built a business on building relationships.

18
10 THINGS I'VE LEARNED
Christine Beech reflects on a career working with nonprofits.

19
NONPROFIT SPOTLIGHT
A Q&A with Rochester Area Foundation president
Jennifer Woodford.

14 12
WHAT SHE SAID
IN EACH ISSUE

Alli Vath. In her own words.

14
GENERATIONNEXT
How Tanner Johnston learns from his clients.

19 20
OUR FIRST BANK
A journey into Rochester's business past.

ROCHBIZ.COM 5
 “YOUR
BUSINESS
NEEDS
FUNDING“ WHERE DO YOU GO?
By Sean E. Williams, RAEDI
Photos by Getty Images®
Whether you’re starting a new business or
looking to expand, one common concern is
funding.
Where is the money going to come from?
What type of funding is right for your
business? It’s hard to wade through these
waters, especially alone.
Fortunately, there are resources in the
Rochester area to help give you clarity, help
make the correct decision easier, and help
you get the funding you need faster.
6 MAY 2022
Odds are if you’re starting a business from
scratch, you’re paying for the initial expenses
out of your own pocket. Free resources,
therefore, are ideal, and several organizations
throughout the region can help.
The Collider Foundation has educational
resources to help you test out your business
model, to make sure you’re starting out
on the right path. The Small Business
Development Center (SBDC) can help
you with your business plan, financial
documents, marketing plan, and more—all
for free and confidentially. And then there’s
the free advice and referrals that a number
of organizations offer, including Rochester
Area Economic Development Inc. (RAEDI),
Destination Medical Center (DMC), and the
Minnesota Department of Employment and
Economic Development (DEED).
I’ve taken advantage of these connections
myself as an entrepreneur, which helped
me get connected into the ecosystem and
catapulted my business to places I never
thought possible.
And the best part is that there is no “wrong”
front door—if one organization doesn’t have
the resources you need, they’ll refer you
to the organization that does. We all work
 “ It’s hard to wade through these waters, especially
alone, but fortunately there are resources in the Rochester
area to help give you clarity, help make the correct decision

”
easier, and help you get the funding you need faster.

together to help entrepreneurs succeed in our region.
If you’ve started your business, but don’t have a track record for
traditional bank loans, this is where “friends and family” come
in. There’s a saying to never invest your own money in a project,
but this is generally only possible if you have the privilege of
knowing rich people who are comfortable investing in your
business (I use “privilege” here to mean “lack of barriers,” which
is the most accurate description I’ve found).
What do you do if you don’t have rich friends and family? You’ve
still got a few options.
First, you can go the traditional route, which is to apply for
a bank loan. This can be hard, though, if you don’t have a
strong credit score or collateral to
put up against the loan. Fortunately,
be repaid, and only have reporting requirements to see how you
used the grant dollars.
For some businesses, crowdfunding might be a viable option.
With these systems, you offer “pre-orders” of your product and
collect revenue, which allows you to do a larger order, reducing
your cost per unit (and increasing your profit!). Businesses in the
area such as LEAH Labs have successfully used crowdfunding.
Beyond friends and family, “angels” are people who have
money to invest in businesses. There are two primary options
for connecting to angels—funds and groups. Angel funds, such
as the Southeast Minnesota Capital Fund (SMCF), invest as
an organization on behalf of their members. Angel groups,
on the other hand, organize pitch nights that bring investors
and founders together for potential

“
connections (stay tuned for exciting news
organizations like Elocina and Black
on this front!). Angels invest in either debt
Entrepreneurship Team (BET) can help
with rehabilitating your credit score. What do you do if or equity of your company, and expect a
return on their investment.
As an alternative, you can apply
for programs such as the Emerging
you don’t have rich If you’re a high-growth startup, venture
capital dollars might be an option. “High-
Entrepreneur Loan Program,
administered by RAEDI on behalf of
friends and family? growth” means that you’re expected to
expand your customers quickly, nationwide
DEED, which can get you a loan without
a credit check. These programs might
You’ve still got a few or even worldwide! These investors are

”
looking for a large and quick return on their
options.
have a higher interest rate than a
investment, meaning your business gets
bank loan, but they are probably more
sold to another organization or aims for
accessible and flexible with their terms.
an initial public offering (IPO) on the stock
You can learn more at raedi.com.
market.
Similarly, the City of Rochester’s Economic Development Fund
For established businesses looking to expand, DEED has
is administered by RAEDI to help retain, grow, and diversify
a number of offerings, including the Job Training Incentive
the local Rochester economy. Businesses looking to grow in
Program (JTIP) and the Minnesota Investment Fund (MIF).
Rochester can apply to have RAEDI invest in their business
JTIP helps supplement revenue to train new employees; MIF is
in the form of a loan or in exchange for an ownership stake in
specifically aimed to help businesses buy real estate, machinery,
their company. Businesses that have applied for and received
and equipment for expansion, creating well-paying jobs in the
investment include Vyriad, Cytotheryx, and Nanodropper.
process.
Depending on your business type, other initial funding options
To learn more about these, or any of the above programs,
include a LaunchMN Innovation Grant, or grants and loans
feel free to shoot me an email at swilliams@raedi.com or call
through the Southern Minnesota Initiative Foundation (SMIF).
me at 507-288-0208. If I can’t help you, I’ll make sure you’re
The great thing with grants is that they generally don’t need to
connected to the right person who can.

ROCHBIZ.COM 7
 YOUR BUSINESS (OR BIZ-TO-BE) NEEDS FUNDING
WHAT ARE SOME LOCAL RESOURCES
YOU USED TO HELP YOUR COMPANY?
AL BERNING
CEO, Ambient Clinical Analytics
Contributed Photo
"Ambient Clinical Analytics
is a digital health software
company that uses analytics
technology licensed from
Mayo Clinic. The local funding
resources for start-ups has
increased significantly since we
started PEMSTAR [a business
Berning cofounded] in the
90s. Ambient Clinical Analytics
worked with the RAEDI
Rochester Economic Fund,
the SE MN Capital Fund, the
Southern Minnesota Initiative
Foundation Equity Fund, and
many angel investors for funding
resources. In addition to the
funding resources, there are
many entrepreneur support
groups including: the Collider,
Entrepreneurs First, the
Women's Entrepreneur Forum,
1 Million Cups, SCORE, SBDC
and others. The combination
of funding resources and
entrepreneur support groups,
and the available Mayo Clinic
licensed technology, has put
Rochester on the map as a very
active entrepreneurial hotspot."
8 MAY 2022
ALLISA SONG
CEO, Nanodropper
Contributed Photo
"For non-dilutive financing
(financing for a business where
they do not lose any equity in
the company), we used the MN
DEED Launch Innovation Grant
(and hired our first full-time
employee). The Olmsted MN
CARES Grant kept us afloat
while trying to launch a new
product during a pandemic.
The MN DEED Launch SBIR
match helped us (our continued
success in the public sector is
being supported by the state
through these matching grants).
Walleye Tank gave us early
exposure as a newly-minted
Minnesota company; and
MN Cup opened our network
exponentially in the Twin Cities,
including peers, mentors, and
investors. These also all added
non-dilutive funding for our
company. We also won funding
from one of the SMIF prizes at
the MN Cup.
Dilutive financing included
RAEDI and Austin Area Angels.
Other notable sources of capital
include: SEMN Capital, SMIF,
and Gopher Angels."
DR. STEPHEN MIKE ROLIH
RUSSELL GoRout (Repetix, Inc)
Founder/CEO
Co-founder of Vyriad
Contributed Photo
Contributed Photo
"We raised money via the
"For our local resources, we
RAEDI city funds as an equity
used: Benike, Harris, Premier
investment in 2016 and a
Electric, Med City Painting,
business loan via RAEDI in the
Home Federal, Smart-HR, Foster
fall of 2018. These funds were a
Electrical, Palmer Soderberg,
tremendous help in growing our
Gerbig, Praxair, Johnson
business and helping us get to
Controls, RSP, MEP Associates,
where we are today."
Medical Alley, Sandstrom
Design, K & M Glass, Weis
Builders, Strut Branding. I know
I may have missed a few but this
is a good number of them.
Jamey Shandley (Hamilton
Real Estate) helped us find and
eventually lease our space in
building 110 on the IBM campus
(initially IBM, then from IRG our
current landlord). We used Mark This article brought to
Utz as our lawyer to help us set you courtesy of RAEDI.
up the company and Fredrikson
To learn more about these, or
and Byron in Minneapolis for
any of the above programs,
larger legal issues later on.
feel free to shoot me an
We leased space in the email at swilliams@raedi.com
Accelerator in the BioBusiness or call me at 507-288-0208.
Center for office space when the If I can’t help you, I’ll make
business was first established, sure you’re connected to the
and then moved into larger right person who can.
leased office space across the
hall."

Simple Guide to a
Marketing Budget
The key to a successful marketing strategy is allocating your budget
correctly. It's important to be sure that you maximize reach and frequency
in one medium before expanding into the next in each category.
Below shows a sample marketing budget and mix for a company with two
employees, gross revenue of $800,000/year, and a budget of $64,000.
1 2
$
3 4
Digital Media - $37,200/year
This includes social media, PPC, programmatic display advertising,
OTT/CTV advertising, and more.
$21,600 for consistent programmatic display advertising
$12,000 for OTT/CTV for quarterly sales
$3,800 for social media marketing for quarterly sales
Traditional Media - $23,800
The includes all print media, broadcast television, radio, billboards, and
any additional advertising other than digital.
$13,200 for monthly ads in a local magazine
$8,000 for quarterly billboards
$2,600 for radio for a yearly community service promotion
Marketing Collateral - $2,400
This includes rack cards, brochures, business cards, promotional
flyers, branded clothing/gifts. This can fluctuate each year and tends
to be highest in the first year of a new business. Since this is an
established business, this year's cost is less.
$1,500 for rack cards and updated business cards
$900 for promotional pens, paper pads and coffee mugs
Website - $1,600
This includes all updates needed to a website, which may be quarterly
or monthly.
$1,200 for quarterly maintenance
$400 for miscellaneous updates throughout the year.
“
DEMYSTIFYING
YOUR
MARKETING
BUDGET “
One of the most frequent questions I get when working with
business owners in regards to advertising/marketing is “How
much should I spend on advertising and where should I spend
it?” My first response is always “A million dollars!” because I
know that someone, one day, will say yes, and it breaks the
tension. In reality, that number and the “where” are different for
every business.
According to the US Small Business Administration, small
businesses (businesses with less than $5M in total revenue)
should allocate 7% -8% of their total revenue to marketing,
assuming margins are in the 10%-12% range. Your marketing
budget includes all money you spend to market your business,
not just advertising costs. When creating your marketing
budget, take into account the following costs: graphic design,
social media content and advertising, content marketing, print
costs, branded materials/gifts, traditional advertising, and
digital advertising.
It’s important to be strategic in where your marketing dollars
go. Reach and frequency are the two most important goals
when it comes to advertising strategies, and they need to be
maxed out in one medium before adding another to the media
mix in that category. The caveat to this is you want to ensure
your advertising dollars are not all in one basket, but you also
want to be sure you haven’t spread your dollars too thin to see
any return. Confused yet? This is why working with a marketing
professional is so important. They will help you determine your
budget, where you should spend it, and what dollars are best
allocated to which budget.
If you’re still confused and not
sure where to start, reach out!
Our business development
strategists are the best in the
business and are happy to help
you. Email us for your free
marketing consultation and learn
more about how we can help you
achieve your goals.
(advertising@postbulletin.com)
Kati Cooley
Advertising Director
Rochester Post Bulletin
ROCHBIZ.COM 9
 “ EVEN IN A CITY WITH A
BIG DEALS MEAN BIG MONEY,
NON-PROFIT AS ITS TOP EMPLOYER“
BY J EF F K I GER | POST BU L L E T I N BU S I N E S S R E P O RTE R
Contributed photo
Rochester made history in early April
when The Berkman, a 13-story apartment
building and hotel with related townhomes,
was purchased by CBRE Investment
Management of Boston for a historic
$187.6 million. That might be the biggest
price ever paid for a single multifamily
property in Minnesota’s history.
10 MAY 2022
It is the largest real estate transaction in Grand Hotel, and the Textile Care Services
Rochester in the past nine years. However, laundry.
the sale of The Berkman is $42.4 million
While these two mega-deals involve very
less than a Med City deal that included
different properties and circumstances,
four downtown hotels and a commercial
neither were put together overnight. What
laundry.
does it take to close a deal on that kind of
Wisconsin hospital executive and Oronoco scale?
resident Javon Bea led an investor group
“A lot of patience and also you have to have
to pay $230 million to buy the Kahler
the stomach or fortitude to be willing to
hotel portfolio, anchored by the Kahler

put yourself out there,” answers
Rochester commercial real estate
broker Mark Steege of Titan360.
While Steege was not involved
in either of those transactions,
he has been involved in the
Rochester commercial real estate
market for almost 30 years. Most
of that time he worked with
legendary Rochester developers
Gus and Andy Chafoulias.
A successful multi-million
dollar closing looks like a big
payoff from the outside, but
it sometimes takes years of
planning, a team of people
working together and a lot of
risk, adds Steege.
In the case of The Berkman, the
original plan by Bob Lux’s Alatus
development firm was originally
announced in 2016.
It involved working with
Rochester real estate developers
Ed and Nick Pompeian to line
up the needed land, securing
needed financing, addressing
concerns by the neighborhood,
working out helicopter safety
plans with Mayo Clinic and
securing tax increment financing
from the City of Rochester.
“There was a lot of risk for all
the investors involved with that.
It was a beautiful project in the
end. They've been rewarded
because of it, but there were no
guarantees that was going to
occur,” says Steege.
If any piece of that plan had not
happened correctly, the $115
million investment probably
would not have paid off in such a
historic fashion in 2022.
The size of the property or even
prominence of a property doesn’t
“ A successful multi-million dollar closing looks
like a big payoff from the outside, but it sometimes
takes years of planning, a team of people working
”
together and a lot of risk.
always add up to a big financial A similar situation happened While those are just a few of
payoff. in northwest Rochester, when Rochester’s big, non-Mayo
Costco opted to buy and build Clinic deals, many real estate
In 2018, Olmsted County’s
on a chunk of open farmland transactions that might have
largest property under one
in 2012. Buying that land from been the key to transformative
roof and arguably the most
Northwest Investments, Kwik visions for the city never crossed
recognizable non-Mayo Clinic
Trip’s real estate development the finish line.
structure in Rochester was sold
arm, lit the fuse on that area
for $33.9 million. For every Berkman and Kahler
at West Circle Drive and 19th
plan, there are many deals that
IBM sold its almost 500-acre Street.
went off the rails long before
northwest Rochester campus
That open northwest Rochester coming into the station.
with its 34 buildings for almost
land quickly blossomed into a
half of what the Waters on The money might be big when
major collection of restaurants,
Mayowood senior living complex these big ticket transactions
stores and, of course, bank
cost in 2022. close, but it is rarely easy.
branches.
Inland Real Estate Group of
Cos. purchased the Waters
on Mayowood for a total of
$67.3 million in February. At
the time, that was Rochester’s
biggest deal since the Kahler
sale.
Of course, IBM did include
leasing eight buildings for
12 years in its deal, so that
probably impacted the final
price.
507-424-9625 | supportingstrategies.com/rochester-mn
Some seemingly simple deals
open the door to changing a
whole section of a city.
Rochester Toyota bought
open farmland on the city’s
far south side in 2006. When
Rob Gregory broke ground
for his new dealership on the RAJEEB RATH JODI BABCOCK
opposite side of the city from Managing Director Finance Operations Manager
the traditional Car Row, it was rrath@supportingstrategies.com jbabcock@supportingstrategies.com
in the middle of miles of empty
farmland. Outsourced
However, that area quickly bookkeeping services,
Support provided by 100+ franchise
controller services, and
exploded under the guidance dedicated cross-trained
operational support for offices in the U.S.
of Rochester developer Tom team members
growing businesses
Hexum into the bustling
Shoppes on Maine commercial
area. Despite being stalled a CONTACT RAJEEB OR JODI FOR A FREE CONSULTATION AND
bit by the housing recession, LEARN HOW SUPPORTING STRATEGIES CAN SUPPORT YOUR BUSINESS!
that area continues to grow.
ROCHBIZ.COM 11
 “WHAT SHE SAID“
BUSINESS INSIGHTS FROM A FEMALE PERSPECTIVE

12 MAY 2022
 “ Even after working up the corporate ladder, I felt stuck
and disappointed. Finally, after six years, I had enough and

”
called my dad to tell him I wanted to work for myself.

Here are five big

takeaways from being
a woman in business:

1) Legacy. Entrepreneurship has changed my

life for the better in many ways, but most
importantly, it's allowed me to lead by example for
my children. As a result, my children watch me run a
successful business, overcome obstacles, and serve
our family and community.

2) Connection leads to growth. Jumping into

working for myself allowed me to meet a
diverse group of professionals who were constantly
in the growth mindset. We are all the average of
the five people you spend the most time with; I am
always trying to level up with other powerhouse
businesswomen in the Rochester Area (and there
are a lot).

3) Breaking the glass ceiling. After exiting

corporate America, I realized the sky is
truly the limit. Endless business opportunities
are knocking at your door daily; continue making
connections and creating quality work for your
By Alli Vath, Counselor Realty Rochester clients. You can create anything you've dreamt
Photos supplied by Alli Vath up because you are equipped and resourceful to
become a huge success.
My view of women in business has evolved significantly since joining the workforce
in 2008. I always envisioned dressing up in a tailored suit, carrying a nice briefcase,
and a white picket fence lifestyle. But, come to find out, there's a lot of hard work, 4) Freedom and independence. Earning your
income allows you freedom and builds your
confidence. As a result, you take on more risks,
professional development, and continuous planting of seeds to get to that "polished
professional" life that I dreamed of as a little girl. significant leaps of faith, and embody self courage
and security.
I worked at a Fortune 500 company in an entry-level position out of college, working
12-14 hours a day, barely making enough to pay car payments, student loans, and
rent. Even after working up the corporate ladder, I felt stuck and disappointed. Finally, 5) Love. After I fell in LOVE with my occupation,
life felt FUN and invigorating. But what's
not to love? I show up, look at houses, and build
after six years, I had enough and called my dad to tell him I wanted to work for myself.
Unfortunately, he did not want me to leave the comfort of a steady paycheck. Dad, relationships with clients growing their financial
sorry to say this, but I am so happy I did not listen to you on this occasion. I started wealth. Even on the hard days, I know that there is
my real estate career in 2014 and have not looked back. a learning opportunity.

As a professional businesswoman in 2022, you still need to dress for the position you want,
carry yourself with class (even when you put out 100 fires that day), and DREAM BIGGER. But, you can
have it all with a bit of optimism, establishing priorities, and raising the bar high on achieving goals.

ROCHBIZ.COM 13
 GENERATIONNEXT

“ OUR CUSTOMERS
WE SUCCEED WHEN
SUCCEED“” HOW TANNER JOHNSTON AND
NATIONAL FLEET GRAPHICS LEARN FROM THEIR CLIENTS

14 MAY 2022
By John Sievers
Photos by Joe Ahlquist
When Rochesterite Tanner Johnston graduated
from high school, he started working for
National Fleet Graphics, his family’s business.
His parents JoAnn and Corey Johnston started
the custom graphic design and branding
company in their basement in 2001, but now it
includes a 20-person team.
“Having grown up in and around the company,
I had developed natural curiosities,” says
Johnston. “I had always been interested in the
‘business’ side of business. The creation of a
product, marketing and acquiring customers,
building and maintaining a team, the economics
behind great products or services all interested
and continue to interest me.”
Now, at 25, and after having earned a
Bachelor’s degree in business at Concordia
University in St. Paul, Johnston’s official title
at National Fleet Graphics (NFG) is Marketing
Manager, though his actual work there requires
him to fill several important roles.
Even as he earned his degree, Johnston found
a way to continue working at the family
business. To stay consistently involved in the
day-to-day business, he had to take evening
classes, weekend classes, and online classes.
“Of course, there were trade-offs to doing
things this way, such as very long days, at
times, considerable stress, and less-than-ideal
social interaction,” he says.
Ultimately though, he says the experience “was
a great opportunity to be able to learn the
context regarding particular business concepts
while being able to directly and immediately
apply or understand how they influence the
work.”
Johnston feels that the combination of
education and real-world business decision-
making gave him a competitive advantage.
“The combination of experience and education
in anything is more beneficial than one over
the other,” he says, adding that both education
and experience are important. “Having both
together really allowed me to better tie
everything together.”
These days, Johnston has taken on increasing
responsibilities at National Fleet Graphics, as
his parents have been transitioning decision
making for the company to him.
Johnston says his position at NFG requires him
to work on much more than marketing: “Being
a part of a small business typically involves
wearing multiple hats, as some say, to fulfill all
the necessary operations of the business."
Besides marketing, Johnston says he’s
responsible for financial reporting and human
“
While some days
are more challenging
than others, I enjoy
being able to tackle and
solve problems across
a variety of business
”
segments.
resource management. He completes bank
reconciliation, financial statement preparation,
payrolls, and time-keeping management.
The work is rewarding for Johnston in part
because it is so variable. “While some days are
more challenging than others, I enjoy being
able to tackle and solve problems across a
variety of business segments,” he says. “Each
day presents new tasks, and it seems like no
day is ever the same as the last.”
Johnston lists focus, teamwork and trust as
some of the entrepreneurial qualities that help
his success with NFG. These features work
together, since he depends on his team to
complete their roles. He says it is important to
give his team space so they can work “to the
best of their ability.”
Focus, teamwork and trust are also key to
his commitment to keep NFG a customer-
centered business. “Learning from and
re-focusing back on customer satisfaction is
what I believe contributes to our success and
allows us to continue to grow our business and
potential for new opportunities,” he says.
NFG offers a variety of services including
creating colorful signs, graphics, and vehicle
wraps. One of their services that has seen
growing demand is creating wall graphics for
area schools.
“While it hasn’t been very long since my
school days, I do remember what the inside of
schools looked like when I was enrolled,” says
Johnston. “In my opinion, the visual difference
is incredible. I think it is particularly exciting
for the students. The spaces look more alive,
vibrant, and colorful.”
Johnston gives examples of NFG-created wall
graphics at schools like Triton, Albert Lea, and
Pine Island. He’s particularly proud of a school
project at Byron that includes an extensive
mural outside their gym that includes a history
of school athletes and their photos.
Marketing is one business aspect that Johnston
is especially excited about. He enjoys working
on the creative elements like imaging and
wording as he crafts a branding strategy, but
he’s equally interested in other pieces of the
marketing puzzle.
Choosing mediums like digital, TV, radio, or
print and evaluating metrics that result from
a specific campaign are all things Johnston is
excited about.
Giving back to his community is also important
for Johnston. “I think some of the most
inspiring work we do involves giving back,” he
says.
NFG partners with non-profits, individuals, and
other businesses that also give back. “Whether
it be a charity event for a specific cause or
person or a fundraiser to help those in need,
being able to provide product at reduced or
no cost to help communicate and inform the
public about the mission these events are
held to accomplish feels good, and we hope it
increases the success of these events,” he says.
When he’s not working to make NFG run
smoothly, Johnston enjoys exercising and
lifting weights, reading biographies and
nonfiction, and traveling, especially to southern
destinations with warm beaches during the
winter months.
He is also an avid music fan and concertgoer.
He says he spends a good deal of free time
investing in the stock market, analyzing
company earnings reports and conducting
market research.
Johnston finds his work to be dynamic, exciting
and ever-changing. The track that NFG’s
printed products take from design through
creation is one that focuses on the customer’s
needs. “We succeed,” says Johnston, “when
our customers succeed.”
ROCHBIZ.COM 15
 INSIGHTS
AND ADVICE

“BUILDING A BUSINESS,
BUILDING RELATIONSHIPS“
BY R A JE E B R AT H | P H OTO S BY D EA N RI G G OT T

16 MAY 2022
 “ Business owners need to be able to focus their energies
and skills on growth, their staff, products and/or services
while taking advantage of outsourcing non-core functions
such as bookkeeping and controllership.
With 25-plus years of professional
accounting experience, you would imagine
running a bookkeeping franchise would not
be too hard.
As Managing Director of the Rochester,
MN office of Supporting Strategies, a
national franchise, I have discovered
otherwise.
No matter the years of experience, starting
and running your business, any business,
is a challenge—one that is simultaneously
exciting and scary, inspiring and stressful.
Building a business is about building
relationships, establishing connections,
inspiring trust, and understanding that
you are a part of a community. You have
a responsibility to contribute to that
community, to be a valuable part of it while
establishing your business
Providing bookkeeping and controllership
services to growing businesses requires
one to be closely involved in the business,
to provide business owners the assurance
that their financial records are completely
in order. Business owners need to be able
to focus their energies and skills on growth,
their staff, products and/or services while
taking advantage of outsourcing non-
core functions such as bookkeeping and
controllership.
Technology advancements have made it
practical for outsourced accounting firms
to deliver higher value services to small,
growing businesses by:
1. Allowing business owners to focus on
their core business by allowing them to do
what they do best.
2. Providing small, growing businesses
access to technology and skilled accounting
professionals at an affordable cost.
3. Introducing cost and process efficiencies
and putting business owners more in
control of their businesses.
The pandemic, while causing major
disruption to businesses and the economy,
also highlighted the necessity and
advantages of remote working. Businesses
were quick to realize the benefits of remote
working and adapted their business models
to the new technological paradigm in order
to reduce costs and increase operational
efficiency.
Business owners from startups to
established businesses need to be aware
of the changing technological environment
and the clear advantages from outsourcing
non-core functions such as bookkeeping/
accounting, IT, human resources, and
payroll to name a few.
Business owners are able to get a lot more
done and feel much more in control by
delegating tasks and processes to outside
professionals without having to hire, train
and grow a full-time team.
Starting and running your own business is
undoubtedly a major challenge, but most
business owners would agree that the
rewards and satisfaction of charting your
own destiny is worth the hard work and
stress that ownership seems to demand.
From personal experience and from
discussions with other, more established
business owners, I would stress the
importance of the following:
Make a business plan. Set business and
financial goals and outline the resources
you will need to achieve them.
Know your market and your customers.
Study the market and your prospective
customer base.
Be clear about your message. Especially
regarding the services and/or products you
provide and the specific audience to whom
the message is addressed.
”
Don’t try to do it all yourself. Focus on your
core competency. Outsource the non-core
jobs and the things you’re not good at. It
will allow you to focus on the business and,
more often than not, lower your overheads.
Be prepared for the long haul. There
may be a few who will find early financial
success, but for most, building your
business will be an exercise in patience.
Throw in a willingness to learn and adapt
and above all be prepared to work hard.
The rewards are there—but you have to
earn them.
Rajeeb has served in financial
consulting and management roles
in public accounting, software, &
manufacturing for 25-plus years
serving major multi-national
firms in India, UK, and the United
States. His focus always was to
enable businesses to achieve their
financial goals.
Since mid-2018, as Managing
Director of Supporting Strategies’
Rochester, MN office, he now
distills that diverse experience to
address the bookkeeping needs
of small growing businesses in
SE-MN.
Rajeeb is a CPA (inactive) and
CGMA, a board member in a
local nonprofit, and active in the
Rochester Chamber of Commerce.
ROCHBIZ.COM 17
 INSIGHTS
AND ADVICE
By Christine Beech, D.M.
Photo by Pam Dose
Christine Beech, D.M. is the owner
of Copiavia and runs the Women’s
Entrepreneur (WE) Forum in Rochester.
Dr. Beech serves on several boards to
include the Jeremiah Program, Rochester
Area Chamber of Commerce, Salt & Light
Partners, Collider Foundation, and the
Launch MN Advisory Board.
Copiavia is a firm dedicated to supporting
nonprofits through strategic planning,
board education, and business modeling.
Copiavia offers consulting, workshops,
and facilitated board retreats designed
to support nonprofit leaders and
their boards in designing strategies to
maximize their mission capacity.
Upcoming workshops include sessions in
May at the Rochester Area Foundation
sponsored by Clifton Larson Allen. These
sessions are for nonprofit leaders and
will cover asset mapping, stakeholder
engagement, and business modeling. You
can register at Copiavia.com.
18 MAY 2022
“10 THINGS I’VE
LEARNED WORKING
WITH NONPROFITS“
1) Running a nonprofit is stressful.
Most of the time the need is greater
than the organization’s capacity to serve.
Further, building that capacity is limited
less by commitment to the mission and
more by effectiveness at raising funds.
2) That said, becoming a nonprofit
should not be a default choice
for a mission-driven organization. All
organizations require revenue, generated
either through sales or fundraising. There
are mission-driven organizations that
would be better off as a social enterprise
than a nonprofit. Learning which model
is best before launching is vital to the
success of the organization.
3) If you do decide to launch a
nonprofit, remember that it needs
to run just like any other business to
survive. The healthiest nonprofits have
a diversified income base that includes
donations, grant income, and revenue they
generate from sales or membership fees.
Pull out one of those parts from the base
and it creates a danger of collapse.
4) The best nonprofits make sure to
consult with experts, especially
when it comes to financial and legal
matters. While it is natural to leverage
board talent in these areas, make sure they
are willing to donate their time, otherwise
it is better to seek outside assistance.
5) The great news is that we have
some incredible talent running our
local nonprofits. We need to pay them
what they are worth. Of course there is a
balance, as the organization needs to be
a good steward of their finances, but let’s
not treat them as less worthy than their
for-profit counterparts. Reward the talent.
6) Next, be curious. Each person
brings their own experience to
the table (both as a board member and
nonprofit leader) and often what they have
seen in one organization becomes their
standard for the next. Yet, that experience
may not be the best option in the new
environment. Be open to new ways of
operating.
7) Remember that boards need
education. When someone agrees
to be on a board, they can only operate at
full capacity if they know their roles and
responsibilities, how the governance of the
board operates, and the role of the board
versus the role of the staff. Then they
need to be well informed in order to be an
effective ambassador for the organization.
8)
Passion can create strong voices.
There is good and bad in that, since
we want passionate people in leadership
roles, yet sometimes it can be hard to
speak up when there are already several
strong voices at the table. Be mindful as a
board to hear all voices.
9) The board’s role is to support
and advise the person serving as
leader of the nonprofit. Support does
not necessarily mean affirming or second
guessing their actions. Support means
providing them with the resources
and then advising them based on your
knowledge and experience. That is why
you are asked to be on the board.
10) There is strength in community.
Locally, the Rochester Nonprofit
Consortium works hard to create that
community. If you are a nonprofit leader of
any kind, consider joining the consortium
and gathering with your peers.
 NONPROFITSPOTLIGHT
SPONSORED BY:
MANAGING DIRECTOR
RAJEEB RATH
rrath@supportingstrategies.com
The Rochester Area Foundation
Bringing people together to make our communities better places
By Alicia Mulholland
For the past 78 years, the mission of the
Rochester Area Foundation has been
creating space that fosters “building and
enhancing the quality of life in the greater
Rochester area through philanthropic
leadership and community partnerships.”
“The Rochester Area Foundation is the hub
for givers and doers with big dreams for
our area and generous hearts. Please join
us in creating better communities for all in
the Rochester area. Bring us your hopes
for the future, and we’ll show you how to
make the greatest impact on the causes that
matter
most to you, today and forever.” directly with nonprofits to build strong
- Jennifer Woodford, President
WHO DOES THE ROCHESTER AREA
FOUNDATION SERVE?
The Rochester Area Foundation helps
community members achieve maximum
impact with their philanthropy. By providing
strategic advice and administrative help with
grantmaking, the Rochester Area Foundation
can support donors with informed decisions,
amplify the impact of charitable giving, and
create philanthropic legacies.
By understanding donor and partner
challenges, the Rochester Area Foundation
acts as a catalyst for change by bringing
people together to create effective,
collaborative solutions. They also maximize
measurable impact by pooling financial
and non-financial support to benefit
the Rochester area communities and
organizations, focusing on affordable
housing.
Providing bookkeeping
services, controller services
and operational support to
growing businesses.
Jennifer Woodford
The Rochester Area Foundation works
communities and better serve those in
need by making grants, growing agency
endowment funds, and providing education
and training.
WHAT ARE THE INITIATIVES OF THE
ROCHESTER AREA FOUNDATION?
The Rochester Area Foundation focuses
on affordable housing and has supported
families in realizing the dream of
homeownership through the First Homes
Program. The current collaborative initiative
includes the Coalition for Rochester Area
Housing.
Another arm of initiatives through the
WHERE CAN I FIND MORE INFORMATION?
You can find more information on the
Rochester Area Foundation’s website at
www.rochesterarea.org.
Rochester Area Foundation is fiscally
sponsored projects. Nonprofits can develop
innovative responses to unmet community
needs through emerging charitable projects
with fiscal sponsorship arrangements.
The Rochester Area Foundation provides
financial infrastructure, regulatory oversight,
grants, and donor management as part of
their support of these projects. The current
list of fiscally sponsored projects includes:
• Cradle to Career
• Rochester Nonprofit Consortium
• Collaborative Leadership Fellows
• Rochester Math Club
• Raise the Net for Kutzky Park Tennis
• Kid’s Cup Golf Tournament
HOW CAN I HELP?
There are multiple ways to support the
Rochester Area Foundation. You can choose
to volunteer with one of their committees,
like the Grant Distribution committee or
the Scholarship Committee. You can also
put philanthropy into action by joining
weGive365, a community giving circle,
with your investment of $365. Finally, a
contribution to support Rochester Area
Foundation, or any of the many funds that
are hosted by the Foundation supports
building better communities for all.
ROCHBIZ.COM 19
 ROCHESTER
NATIONAL
BANK
By Lee Hilgendorf
Photos courtesy of History
Center of Olmsted County
Today, through a series of
acquisitions and mergers,
Rochester’s US Bank can trace its
heritage back to the city’s pioneering
days and the cash drawer of John
Cook’s Mercantile. However, it was
not the first bank of Rochester’s
history. That honor goes to Charles
H. Chadbourne who organized his
private bank in December of 1860.
Two years later, Chadbourne
partnered with Rodney Whitney
and together they operated the firm
of Chadbourne & Whitney until
Whitney’s untimely death in 1868.
Rochester’s first banker, Charles Henry Chadbourne
(1831-1900), organized his private bank in December of 1860. That’s when Rodney W.
Chadbourne, Charles’ brother, took
up the partnership. Chadbourne
Bros. Bank operated until 1876

“OUR FIRST BANK“

when it was reorganized as
Rochester National Bank.
Eventually, Charles would retire
from banking and go into real estate
and grain speculation in the Twin
Cities, making Rodney president.
On May 26, 1924, the assets of
Rochester National Bank were sold
to the First National Bank, closing
the books on Rochester’s first bank.
(And for the record, First National
Bank was originally organized on
December 1, 1864 by John Cook.)

The 1869 bank staff included,

(L to R) Simon Feeney, Walter
Hurlbut, Charles Ainslee, and
William Churchill..

20 APRIL2022
MAY 2022
 In 1864, the First National Bank’s home was on the
north side of the first block of old West Third St.
(today’s Third St. SW).

John Cook build the Cook Hotel on the corner of

Zumbro St. (today’s 2nd St. SW) and South Broadway
in 1869. His retail shops lined the Broadway side, the
hotel entrance was on the Zumbro St. side, while the
First National Bank occupied the corner office.

After the Cook Hotel burned in 1947, First National

Bank built new headquarters at 201 First Avenue SW
in 1949. FNB would remain there until 1999, when
after being acquired by First Bank, they moved across
the street to the new Centerplace office building.
November 29, 1939, Rochester Post Bulletin’s story of
First National Bank’s 75 Anniversary.

ROCHBIZ.COM 21
 “TRAVELING
WHILE BLACK“
HISTORY CENTER EXHIBIT LOOKS AT THE GREEN BOOK.
By Andre Crockett
Contributed photo
The History Center of Olmsted County's
recent exhibit, “Traveling While Black,”
outlined the challenges faced by black
travelers in the fifties.
The exhibit featured the “Green Book,” the
guide that listed establishments across the
U.S. where Blacks could find lodging, places
to eat, and purchase gasoline. It also lets
visitors learn the impact of discrimination
on Rochester and its
22 MAY 2022
Black residents through oral histories of
Rochester residents who experienced
discrimination.
On Saturday, April 4, HealthCORE students
Brianna Blue, Puja Chhetri, PaChia Moua,
Chidiogo Orakwue, and Yula Tsering met
with current and former Black members of
the Rochester community.
Students were introduced to the “Traveling
While Black” exhibit curated by the Olmsted
History Center, discussing challenges and
barriers African Americans have faced
following abolition of slavery in the U.S.,
and resources like the Green Book that
were created as a support network during
the Jim Crow era. Students heard firsthand
experiences from George Thompson,
Joyce Gibbs, Virginia Mendenhall, Linda
Brown , and Pastor Andre Crockett, as
they reflected on their roles in pioneering
inclusive practice and advocating for equity
in Rochester.
Watch: https://www.c-span.org/
video/?459218-1/traveling-black-exhibit
 We believe equality is a basic human right and strongly
condemn all forms of racism and prejudice. Through
Rochester in Color we will help give minorities a voice and
other resources that are lacking in minority communities.

Our goal is to be at the forefront of positive change in our

community. To weave together the fabric of our community
by building awareness of our similarities and differences. We
believe we can help make a change by utilizing the power of
our brands to drive change and increase awareness and
connectivity in our community.

ROCHESTER IN COLOR SPONSORS

To learn more about Rochester in Color,

how you can get involved or how to
become a supporting partner or sponsor,
please visit the link below or scan the QR
code to watch a short video.

www.ROCHESTERINCOLOR.com
ROCHBIZ.COM 23
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solution for businesses
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KATI COOLEY
ADVERTISING DIRECTOR
507.285.7608
kcooley@postbulletin.com

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