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GenXYZ 2023 — Taylor Dilk

They’re uncommon achievers, whether as entrepreneurs, CEOs, nonprofit leaders, visionaries critical to their companies’ success or, in some cases, all of those roles. This year’s Top 25 Young Professionals figure to continue making a difference professionally and in their communities for years to come.

Read on to learn about the 2023 Top 25 Young Professionals and to see the list of this year’s top 50 finalists.

READ: GenXYZ 2023 — Top 25

Taylor Dilk, 30

 Co-Founder & CEO, Vitality | Denver

Taylor Dilk and her co-founders all left their jobs and self-funded Vitality, a multimillion-dollar fitness apparel brand for people of all shapes, sizes and backgrounds. 

Dilk, her sister Chloe Chamberlain and her husband, Steve Dilk, set out to create apparel that flatters a woman’s curves, rather than a one-size-fits-all approach. Everything about the business they built is self-taught, with the co-founders learning as they go. 

As business owners who are 30 and younger, Dilk and her co-founders aren’t confined by traditional business methods or preconditioned to operate in a conventional way. 

Dilk makes sure giving back is at the forefront of Vitality’s mission. In the last four years, the company has donated more than $450,000 to various initiatives, including civil rights movements, women’s empowerment organizations and COVID relief. The brand also has made more than $400,000 worth of clothing donations, most recently to support Afghan refugees across the U.S. 

Dilk is a member of The Tiffany Circle with the Red Cross. The Tiffany Circle is a community of women leaders who advance the American Red Cross mission through focused investment of time, talent and treasure by engaging and embracing women.

Dilk prides herself on giving her audience an insight into her life through social media, where she has inspired thousands to chase their dreams while pursuing a balanced lifestyle. 

4 Ways to Offer Wellness Tools and Retain Your Workforce

As labor shortages continue to impact companies across industries, businesses are shifting their focus to employee retention. According to Bank of America’s recent Workplace Benefits Report, 46% of employers have seen an increase in resignations over the past year while one in three employees have switched jobs or thought about switching jobs. Colorado’s labor force participation rate dropped to 69.2% in November 2022 and according to some media reports, Colorado’s unemployment rate could go to 9.4% next year. That’s why it’s more important than ever to retain your workforce.

READ: Guest Column — Helen Young Hayes Talks Talent Pipeline Disruption

Our research shows employees are significantly stressed by current economic conditions, leading to a decrease in their feelings of personal financial wellness. The percentage of employees who feel financially well hit a five-year low in July 2022. Perceptions of financial wellness are also impacted by ethnicity, gender, and generational factors. For instance, women continue to trail men in their feelings about financial wellness and preparedness, and employees of color report significantly lower feelings of financial wellness compared to white employees.

Many leaders already feel responsible for their employees’ financial well-being. However, as employers address record levels of turnover amid a period of economic uncertainty, it is more important than ever to provide additional support and resources. What can leaders do to retain their workforce? A vast majority of employers now say that offering financial wellness tools can reduce employee attrition, and wellness tools can help attract higher-quality employees. To help retain your workforce, you should consider the following:

Embrace employee financial wellness and expand support.

Given higher than usual inflation, employees are feeling the pinch financially. Employers should embrace programs, such as financial coaching and digital tools that help employees better plan and manage their finances. For example, 91% of companies see higher employee satisfaction when they offer resources to manage overall wellbeing. Companies that take it a step further and broaden their wellness programs to include mental and physical wellness resources see noticeable improvements in productivity, employee stress, morale, creativity, and innovation.

READ: The Top 5 Ways You Can Support Mental Health in the Workplace

Providing access to investment advice.

Employees are eager to invest and grow their wealth, which can be an intimidating process. Four-in-ten employees say they want access to advice from an investment professional. Armed with that knowledge, 62% of employers now offer employees access to investment advice services. Whether it’s an internal team or external partner, give your team the tools they need to feel confident in financial decisions.

Focusing on health care education.

84% of employers feel very responsible for their employees’ understanding of retirement healthcare needs and costs, and 89% of employers who offer Health Savings Accounts (HSAs) contribute to their employees’ savings. Yet, only 54% of employers communicate about these topics at least once a year. There’s a big opportunity to improve communication and educate employees about their healthcare benefits. Take the time to remind them about their options, especially as you gear up for open enrollment.

Equity grants are powerful recruitment and retention incentives.

As an employer, you have insight into compensation and should regularly review pay and conduct an equity analysis. 76% of employers believe equity compensation is a differentiator for employee recruitment and retention, and 44% of employees who participate in equity compensation plans say it was an important reason for accepting the job.

The Bottom Line

Employers serve as significant advocates for their company and work, which is why it’s important that they have the resources and tools to bring their best selves to work. Employers can help by taking the initiative and give your team the tools to not only survive but retain your workforce in this new world of recruiting.

 

New HeadshotTy M. Aslin is the Colorado Market Executive for Business Banking at Bank of America

How the Fort Collins Pig & The Plow Farmstead Bakery Became a Post-COVID Success Story

You may have read the popular Farming Fort Collins Blog turned online farm and ranch directory, turned e-zine, The Pig & The Plow: From the Field, but have you stopped by the Pig & Plow Farmstead Bakery and met the woman behind it all?  

Erica Glaze has been busy. After growing up in the fresh, local food scene of New England, she saw a need when she moved to this area back in 2003. “I worked for the Federal government for 3 years and the State for 10 years, but I’m not a good office person, I was ready for a change.” Her desire to connect people to good, local food was the catalyst behind the Farming Fort Collins Blog. The blog turned into an online farm and ranch directory in 2014, then the e-zine evolved to explore the local food scene more. In 2017 she bought her first oven and launched The Pig & The Plow Bakery out of a converted shipping container on her Farmstead.  

Erica connected with the Small Business Development Center through word of mouth and a mutual connection to an SBDC Consultant. “I took a start-up class and continued to move forward to figure out what was needed to take each next step.” She utilized the resources from the beginning and found a network of mentors. “I’m not afraid to raise my hand and ask for help. There are things you’re good at and things that don’t come naturally. With mentors it wasn’t just me, I had a huge network.”

READ — Modern Day Mentorship

The business consistently outgrew space after space. COVID could have devastated the business, but luckily Erica set it up right. “When COVID hit we had to stop our NOCO Meat Collective classes, the restaurants we supplied closed, and the Farmer’s Markets were halted. Luckily, we were already online and had a following. Within 24 hours we added other market partners to our website and continued selling.” COVID didn’t stop them from thinking about the future. In June of 2021, after outgrowing yet another space, they moved into the Colorado Feed & Grain in Timnath.  

The opportunity to move into their newest location at 140 Boardwalk Dr. in Fort Collins presented itself earlier this year and within two months was a done deal. The space was formerly a bakery but also includes a great area for retail. “My husband was always really supportive and handy. He bought me that first oven and built the shipping container. When we decided to move to our new location we knew he needed to be more involved, so he officially became part owner.” It only took three days to move and set up the shop. They opened on November 15th. 

The unique thing about the business is the attention to how they do things. “We’re not the only bakery in town, but we use local, organic ingredients to create a new twist on old classics.” One of Erica and her staff’s favorite parts of the business is exploring and blending food and culture to bring something new into the fold. No day is the same when you get to experiment and create.

READ — Rising Food Costs Create Unique Challenges for Hunger-Focused Agencies 

The future for The Pig & The Plow Bakery looks bright. She’s focusing on continuing to develop the community around the business. She loves building opportunities for collaboration and creating a place for people to come and grow. One thing she looks forward to is continuing to be a part of people’s special things, whether it’s baking goods for an occasion or as a treat. “We had a woman at the farmer’s market who saw our Danish bread and cried. She was homesick and so happy to see and experience something familiar.”  

Her advice for budding entrepreneurs is this: “Don’t waste your time figuring it all out on your own. Learn from other people’s mistakes. Find the experts and be open to expanding your network.” She also advises connecting with people in your industry, and not seeing them as just competition. “There’s room for everyone, the more we connect and help each other’s growth, it’s an awesome experience.”

She’s most proud of the business she built that continues to move forward. From a converted shipping container to having a great new space with the right equipment and a great team (The Pig & The Plow Bakery employs 1 full-time employee and 2 seasonal contractors), not to mention the people they’ve connected with along the way.

Since 1989, the Larimer Small Business Development Center Network (SBDC) has been dedicated to helping entrepreneurs and businesses start, grow and prosper through street-smart business education and assistance throughout Larimer County. 

We support the growth and resiliency of small businesses by providing free confidential business consulting, practical workshops & events, and connection to resources. Our consulting experts work in partnership to provide entrepreneurs with crucial information that can mean the difference between success and failure. Our vision is to be your premier, trusted choice for business consulting, training, and resources. 

Colorado Business Owner Shares the Importance of Shopping Locally This Holiday Season

The holiday season goes hand-in-hand with exchanging gifts with loved ones. It’s also an essential time of year for keeping small businesses, like mine, afloat. It’s not only meaningful, but it’s advantageous to support, spotlight, and cherish all small businesses here in Colorado and everywhere because they have great services and products that many have been missing out on. Shopping locally is more important than you may realize.

READ — How to Prepare Your Finances for the Holiday Season

I am proud to run one of the women-led small businesses that are leading the way with online tools, despite being harder hit by Covid. Meta’s recent Global State of Small Business Report found that women-led small businesses have effectively flexed to shift their business online, often more so than their male counterparts. Globally, 57% of women-led small business owners report using digital tools to communicate with customers, compared to just under half of businesses led by men.

Here’s the story of how my business came to be. In February of 2016, I was having lunch in a restaurant with my family when I wished out loud that I wanted a way to make adult coloring portable so that whenever I had a few extra minutes, I could pull a small coloring “kit” out of my purse and color away. Having plenty of colored pencils was important to me, as well as a built-in pencil sharpener. That was the day that COLORpockit became an idea that blossomed into a passion.

Our plan to get COLORpockits into retail stores was interrupted because of Covid and we had to pivot to focus solely on online sales through our website and other online retail sites. We turned to Facebook ads, including video ads, to get our name out to new potential customers and help drive sales. The ads give us the opportunity to invite people who interact with us to follow our Facebook Page.

READ — 5 Ways Small Business Owners in Colorado Can Survive Inflation

We also created a private Facebook Group called COLORpockit Community, where members share their coloring and support one another. I post coloring tutorial videos in the Group and let members know about upcoming sales. I’m excited that so many people are joining our Group and have access to this kind of support and encouragement.

We are thrilled to see that Coloradans are making an effort to shop locally.

My hope is that we can be mindful of the businesses we are choosing when we go to purchase a gift. Small changes can lead to huge impacts down the road. This year let’s think about the ways we are shopping locally and work harder to shop small and choose independent businesses.

 

Img 8774Dalaine Bartelme is the Owner and Chief Colorist of Colorpockit – the portable coloring system.

5 Ways Small Business Owners in Colorado Can Survive Inflation

More than 50% of American small business owners who responded to CNBC’s latest “Small Business Confidence” survey think the U.S. economy is in “poor” condition and say inflation is their top challenge. Time has proven that the Paycheck Protection Program (PPP) loans weren’t a cure-all for pandemic-related issues small business owners in Colorado are facing. The good news is there are a few things well-meaning business leaders in a bind can do now to improve customer relations and cope with higher federal reserve interest rates.

READ — How the Inflation Reduction Act May Impact Your Business

Think Like a Pilot — Get a Line of Credit Now

Would you rather fly with a pilot who stares at the controls or is constantly scanning the horizon for unexpected obstacles? The answer is obvious, yet many small business owners in Colorado lack a strategy for weathering economic shifts. The pandemic proved how important it is for small business owners to monitor their expenses, know which levers they can pull to generate cash flow and have a financial safety net independent of government aid. Vigilant scanning allows for earlier detection of challenges, while a line of credit can provide a short-term path for adjusting strategies. Small business owners who opened lines of credit before COVID-19 were able to absorb rising costs over time to help bridge the gap between when they paid their vendors and when they could pass the increased cost along to their customers. The best time to apply for a line of credit is when finances are stable. Once disaster strikes, it’ll be more difficult to get it approved or get help financing losses. 

Know Which Levers to Pull to Generate More Cash Flow

  • Increase gross profit (for example, by increasing your prices or reducing your cost of sales.)
  • Improve accounts receivable collection (i.e., shorten your cash operating cycle) by shortening the payment terms you offer your customers or making a stronger effort to collect overdue balances
  • Increase accounts payable turn rate by paying bills at the latest allowed time and renegotiating terms with your suppliers 
  • Invest your spare cash. If your cash flow has become stable and predictable, you can consider investing your excess cash. You can earn additional interest income as well as have the necessary cash to dip into during tough times.

READ — Choose Your Own Adventure: What’s Your Investment Path? 

Be Transparent

Being candid with your customers is essential for relationship building. Small business owners in Colorado should be forthcoming about challenges they’re facing that impact the customer experience, share what steps they’re taking to address them, admit mistakes, encourage feedback and show gratitude for customers and staff at every opportunity. Customers want to know you’re making choices that align with their wants, needs, values and charitable interests. 

Don’t Cut Corners With Culture and Talent Management 

American small business owners have a reputation for paying minimum wage and expecting maximum commitment from staff. That doesn’t work in the era of “The Great Resignation,” even in Colorado where the minimum wage will increase 8.68% to $13.65 per hour in 2023. To attract and retain top talent, small business owners in Colorado need to cater to what today’s workers want — and it’s not just more cash. The pandemic increased demand for better health benefits, work-life balance, flexible schedules, empathetic leadership and respect. About 58% of U.S. workers polled for the Argyle-Leger Confidence Report cited respect as their top work-related work motivation. 

READ — The Great Resignation’s Untapped Talent: The Autism Community

Prove Your Product/Service Is Worth the Price

Small business owners generally want to provide quality goods and services at affordable prices but may not know how without hurting their profits. Some simply can’t for reasons beyond their control, like chronic supply chain disruptions. So, what can a small business owner do to calm a customer who balks at, say, a $20 sandwich? Show how increased prices come with increased value in the form of customer experience, customer satisfaction, customer service and community support. For instance, that $20 sandwich would be easier to swallow if customers knew it was made with high-quality ingredients sourced from ethical ranchers and farmers based in Colorado. Providing a unique experience and outstanding customer service is one of the few advantages small business owners in Colorado have over impersonal online competitors. 

Keep Calm and Call Your Financial Partner

It’s a tough time for small business owners in Colorado. However, help and peace of mind can be found. We encourage you to bring your questions and concerns to a business banker who is uniquely equipped to debunk scary news reports with facts that enable small business owners in Colorado to make educated decisions.

 

Nadine Trujillo Rogers Nadine Trujillo-Rogers, Business Banking Sales Manager, Elevations Credit Union

Paul Watkins HeadshotPaul Watkins, Senior Commercial Loan Officer, Elevations Credit Union

Gytis Tuminas HeadshotGytis Tuminas, Vice President of Finance, Elevations Credit Union 

Venture-backed skincare franchise, Heyday, is opening in the Mile-High market

Heyday is a people-first skincare company bringing together human touch, expertise, and data to empower customers to take care of their skin. The New York City-headquartered brand will be expanding into Denver this January and its first Colorado location will be in the popular Tennyson neighborhood at 3930 Tennyson Street.

Heyday is on a mission to bring a different kind of skincare offering to Denver consumers through customized facials and curated retail products as well as proprietary technology to help modernize the way people get facials. Their goal is to make facials and skincare accessible to our clients and to take the facial out of the spa and the guesswork out of skincare.

The arrival of Heyday in Denver will create about two dozen jobs at each store. The employee composition at each location will include estheticians, “front-of-house” leadership and “back-of-house” management. Heyday plans to open 2 more locations in 2023, and a total of 13 locations over the next 6 years in Colorado. The opening of these stores throughout Colorado will bring over 300 new jobs to the market.

Heyday uses data on customers’ skin type and facial features and helps clients keep track of their skincare regimen between appointments. With that information, Heyday offers customized recommendations for ways to improve skin treatments, for a truly individualized experience. There is currently no other skincare brand catering to customers the way that Heyday is – until now.

Members book monthly visits with a Heyday-trained esthetician as part of their regular health and wellness routine. Heyday’s membership model plans start at $100 per month and includes 15% off products and facials and 50% off enhancements. 

Heyday currently has 18 locations in Atlanta, Chicago, Dallas, Los Angeles, Maryland, New York, Philadelphia, Washington DC and more.

Discover more about Heyday at www.heydayskincare.com.

  

Brad Kott HeadshotBrad Kott moved to Denver in 2014 with his family after spending 20 years in New York and working in the financial services. In September 2021 he signed with Heyday to become as a multi-unit franchisee to bring 13 stores to Colorado – the first three of which will be opened in 2023. Brad was attracted to Heyday because of his lifelong interest in health and wellness, believing in delivering a service that improves peoples’ lives, as well as the strong leadership and culture at the franchisor level. 

 

 

Colorado Business Hall of Fame Names Six New Inductees for 2023 Program

The Denver Metro Chamber of Commerce and Junior Achievement-Rocky Mountain are pleased to announce that they will add six new inductees in 2023 to the Colorado Business Hall of Fame. The Hall of Fame recognizes influential state business leaders, past and present. The just-named class will be inducted at the 33rd Colorado Business Hall of Fame dinner on Feb. 6, 2023, which will be held at the Hyatt Regency Denver at Colorado Convention Center.

“Colorado Business Hall of Fame laureates are part of a league of remarkable individuals who have made legendary contributions to the free enterprise system,” said Robin Wise, president and CEO of JA-Rocky Mountain. “Through their actions and accomplishments, the laureates were selected for their enduring entrepreneurial efforts and business excellence, ethical standards, and philanthropic contributions in moving Colorado in a stronger direction. They are outstanding role models for the next generation as they take the reins of leadership in the years to come.”

The 2023 class includes leaders in a variety of industries, including computer consulting and programming, real estate and architectural development, oil and gas, and mutual fund management.

Learn more about the six new editions to the Colorado Business Hall of Fame, below.

Bill Berger

Bill Berger

For decades, Bill Berger’s influence has been felt across major mutual fund companies based in the Denver area. He began his career by managing equity portfolios for The Colorado National Bank’s trust department in 1950. Over the next 40 years, Mr. Berger helped establish Denver as one of the largest mutual fund centers outside of New York and Boston and had a hand in the growth of at least three families of mutual funds. These included the Centennial Fund and Gryphon Fund (the two later merged into the Founders Growth Fund), and what would eventually evolve into Invesco Funds family of mutual funds, which is now part of Amvescap P.L.C., a global money manager.

Mary Pat Link

Mary Pat Link Headshot

Mary Pat Link has been a leader in innovation and champion for nonprofits for over 40 years. She founded Interlink Group, later acquired by Dell Computer, and now serves alongside her husband, John Strohm, as a founding member and managing partner of Farrell-Roeh Group.

Ms. Link’s impressive leadership and innovative spirit have been consistently recognized throughout her career. She was added to the Forty under 40 list in 1997 and was named Ernst & Young’s Entrepreneur of the Year 1995 and 2000. In 1995, Interlink was recognized on the Inc. 500 list at #51 of the fastest growing companies in America, #56 on Denver Business Journal’s list of fastest growing Colorado private companies, and #14 on Colorado Biz Magazine’s list of top Woman-Owned businesses. Two years later, the company ranked #44 on Inc. Magazine’s Inner-City 100, and in 2000 Interlink was the recipient of the Colorado Biz Company of the Year.

Jay Anthony Precourt

Jay A Precourt Headshot

Throughout his career, Mr. Precourt has held extensive public company board positions, serving in a range of roles from board chairman to leading various executive committees with Hamilton Oil, Timken Company, Apache Corporation, Bariod, Dresser Industries, Halliburton, Tejas Gas Corporation, as well as several large private industrial corporations and nonprofits. At Stanford, Mr. Precourt is the founding donor of the Precourt Institute for Energy and is vice-chairman of its Advisory Council. He is a member of the Woods Institute for Environment’s Advisory Council and founded Global Energy Forum, which now resides at Stanford.

The contributions that Mr. Precourt has made to his community through business leadership and philanthropy are exceptional. He served on Vail Health Hospital’s board of directors for the past nine years, has served as president of Eagle Valley Land Trust and on the boards of Denver Art Museum Foundation, Children’s Hospital of Denver, Historic Denver Foundation and Alley Theater in Houston. The Precourts’ generosity in the Vail Valley also includes Walking Mountains Science Center, Bravo! Vail Music Festival, Eagle Valley Behavioral Health, and Vail Global Energy Forum in Beaver Creek Resort.

Frederick Ross

Frederick Ross

Frederick Ross founded Frederick Ross & Co. in 1888 – a real estate company that touched almost every corner of Colorado. The company, now called Newmark, has built Denver’s skyline for over 134 years.

At 22 years old, Mr. Ross moved to Colorado to help alleviate symptoms of his tuberculosis. At the time, Denver was a simple “cow-town.” Because of Mr. Ross’ foresight and gumption to begin a real estate company, Denver began to come to life. Under his leadership and partnership with other business leaders at the time, Mr. Ross worked to secure water rights for the city and oversaw the planning of the Moffat Tunnel, which provided a way for water to travel through the Continental Divide. He worked alongside elected officials to transform what was once a slum into what we now know as Civic Center Park. He improved the Denver Public Library and was instrumental in helping build the library’s first permanent facility at Colfax and Bannock in 1910.

Mr. Ross’ career wasn’t solely focused on commercial feats. He envisioned housing beyond the central business district. He helped develop the Country Club Place subdivision near the Denver Country Club, as well as the Park Hill subdivision, both of which now include homes that are valued in the millions of dollars today. Mr. Ross’ impact extends decades – Frederick Ross & Co is one of the only real estate companies to span from the 20th to the 21st century. After his passing in 1938, leaders in Mr. Ross’ successful real estate company continued to build Denver and its metro area, fundamentally changing the city and real estate industry forever.

Steve Schuck

Steve Schuck

Steve Schuck founded Schuck Communities, now Schuck Chapman Companies, over 50 years ago, and the company continues to be a major developer of commercial, residential, industrial and mixed-use projects in multiple markets. Throughout his stellar career, Mr. Schuck has had more than 50 joint ventures and partnerships, creating and developing thousands of residential home sites and scores of commercial projects in the Denver, Colorado Springs, Portland, and Phoenix markets, valued in billions of dollars.

As founder and co-founder of both Colorado’s and Colorado Springs’ private economic development programs, the Greater Denver Corporation, the Colorado Leadership Forum, and the Republican Leadership Program (now the Leadership Program of the Rockies), Mr. Schuck’s entrepreneurial leadership reaches far beyond business and into public policy, including having been a candidate for governor. He and his late wife, Joyce, have been school choice activists for decades, creating Parents Challenge over 22 years ago, which has empowered low-income parents of more than 3,000 disadvantaged kids in Colorado Springs with privately funded scholarships, grants, and mentoring that can be used in both public and private schools. Their private foundation, The Schuck Initiatives, is a leader and activist in advancing freedom and personal responsibility, moving people from dependency to independence.

Community and civic challenges are no strangers to Mr. Schuck, and his leadership in improving communities through service includes being a trustee of more than 20 organizations, including Junior Achievement. His leadership has earned him well-deserved special recognition from highly distinguished organizations, including being named Citizen of the Year by the Colorado Springs Chamber of Commerce, the Lifetime of Community Achievement Award from the Colorado Association of Homebuilders, a medal of merit from the University of Colorado Board of Regents, the David S. D’Evelyn Award for Inspired Leadership from the Independence Institute, and the 2021 Leadership Program of the Rockies Legacy Award, among many others.

Mark Smith

Mark Smith Photo 3

Mark Smith has 50 years’ experience in real estate development, sales and marketing. He is a Founding Principal and Managing Partner of Slifer Smith and Frampton and was a founding principal of both East West Partners and Union Station Neighborhood Company.

Commonly described as a visionary, Mr. Smith is most proud of the significant contributions he has made to his community by being the founder of highly impactful organizations, including Youth Foundation (now Youth Power 365), Platte Forum, and Riverfront Park Community Foundation.

Mr. Smith’s community involvement extends to the board room as well, with current board affiliations with Colorado Forum, First Western Financial, Forbes Global Properties, Riverfront Park Community Foundation, Slifer Smith and Frampton Foundation, and Chief Executives Organization. He has served as chairman of the Beaver Creek Metropolitan District, Bravo Colorado Vail Valley Music Festival, Central Platte Valley Metropolitan District, and Downtown Denver Youth Foundation. Mr. Smith also served as a director of numerous youth and education-focused organizations, including Denver Public Schools Foundation, YPO Rocky Mountain Chapter, Teach for America Colorado, Colorado Succeeds, Mayor’s Leadership Team on Early Education, Colorado Uplift, and the Charter Fund, among many others.

DMCC Rolls Out the Red Carpet at Annual Business Awards

Last month on April 29, the Denver Metro Chamber of Commerce (DMCC) bestowed its highest business honors to six organizations — two nonprofits and four companies — at Infinity Park, in Glendale. The awards and celebration were presented by BOK Financial and emceed by Reggie Rivers, former Denver Broncos running back and president of The Gala Team.

This annual event recognizes outstanding local businesses and organizations that are making an impact in Colorado and across the globe in their respective industries — from counseling, recycling, to plumbing services. Last year, the DMCC pivoted to a virtual award show due to COVID concerns but was pleased to be back in-person this year. In attendance, were 316 business and community leaders, including ColoradoBiz.

“All of the organizations we’ve recognized today have been so different in budget, size, service, and industry,” said J. J. Ament, president and CEO of DMCC. “But all of them are similar in that they play a crucial role in strengthening Denver’s economy and community. They help make Metro Denver a great region for living, working, and doing business, and we are so happy that we could bring everyone together today.”

The awards were presented in six categories: Small Nonprofit, Large Nonprofit, Small Business, Woman- or BIPOC-owned, Start-up, and Disruptor of the Year.

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Small Nonprofit of the Year: WeeCycle

Sponsored by: Emerge.

Dress for Success Denver, and Economic Literacy Colorado, were named runners-up.

 

Large Nonprofit of the Year: CareerWise Colorado

Sponsored by: Comcast

Mile High United Way, and A Precious Child, were named runners-up.

 

Small Business of the Year: High 5 Plumbing

Sponsored by: Delta Dental of Colorado

Rupp’s Drums, and Tributary Real Estate, were named runners-up.

Woman- or BIPOC-owned Business of the Year: Barefoot PR

Sponsored by: Xcel Energy

Diverse Talent, LLC, and Marisol Solarte-Erlacher, M.A., LPC and Associates, were named runners-up.

Start-Up Business of the Year: Collective Counseling Solutions

Sponsored by: Emergenetics International

An Artist Prints, and BreakAway Meetings, were named runners-up.

Disruptor of the Year: MIKADO International

Sponsored by: First Onsite

GoQAV – Quality Audio Video was named runner-up.

 

(VIDEOS AND PHOTOGRAPHY, COURTESY OF: DENVER METRO CHAMBER OF COMMERCE)

About the Denver Metro Chamber of Commerce
Our goal has been simple: to put more Coloradans to work. We’ve been doing it for 150 years with a reach that goes beyond the metro area representing 3,000 companies and their 300,000 employees. We have resources for businesses large and small, whether you want to grow your business by making key leads or you want to build relationships with our region’s leading executives while shaping public policy and economic development. With our affiliates, the Chamber plays a vital role in defining the economic landscape of our state.

The Value of Ongoing Contract Reviews

Every business relationship or project should start with a contract. It’s the cornerstone of the relationship or endeavor. It’s a rulebook, so to speak, for all involved parties to follow. A solid contract defines and governs the parties’ obligations when something unanticipated happens — as it often does.

Contracts determine the success or failure of their subject matter. Since the contract is the groundwork for a successful business relationship or project, a complete contract review prior to signing is critical. Yet, it shouldn’t stop there. Business contracts need periodic reviews in order to maintain their relevancy and effectiveness.

Contract review is an essential administrative means, which ensures your contracts reflect your understanding and agreement of all involved parties’ expectations and intents. The downside is that expectations, laws, and contract interpretations are ever-changing, causing what was once an excellent contract to become obsolete or lacking at best. However, regular contract reviews can identify obscurities or obsolete provisions and should highlight areas of possible improvement.

While it’s natural to want “set it and forget it,” in terms of stability and convenience in life and business, contract provisions should be reviewed routinely and carefully. A contract with biased or unclear conditions can be destructive in the event of a dispute. An outdated contract also has legal, industry, and external regulation risks.

Anytime there have been changes to local or federal laws that might impact your contracts is also an ideal time for review and possible revision.

When Should You Update Business Contracts?

Advice about when to update business contracts varies by the type of business you own, the type of contracts you have, and your goals. Typically, you should be reviewing contracts at least once every one to three years. More specifically, legal experts recommend the following timeline for reviews:

  • Employment agreements – When anything changes with the type or location of employee you are hiring, and at least on a yearly basis to incorporate any changes to employment law in your state
  • Non-Disclosure and Confidentiality Agreements – About once per year
  • Equipment leases – Every one to two years
  • Property leases – Before renewal (usually six to 12 months before the lease is up)
  • Software licenses – At least every two years or with every version change
  • Website agreements – Every two years

Anytime there have been changes to local or federal laws that might impact your contracts is also an ideal time for review and possible revision.

Whether you do this on your own or with an attorney’s help, schedule regular and thorough contract reviews so that you don’t overlook them while you are busy running your business.

Common Areas of Necessary Contract Review

The fact that a contract was signed and accepted initially shouldn’t keep you from regularly reviewing and searching for areas to improve, refining the terms, or taking steps to terminate the contract under specific circumstances.

Typical areas of critical contract review include:

  • Key clauses and terms – This will vary by business but usually, they include terms such as confidentiality, indemnification, termination, and dispute resolution. Depending on the contract, they may change throughout the course of the business relationship. New legislation may also necessitate a change to key clauses and terms.
  • Termination and renewal terms – Check the automatic renewal language and opt-out windows and make sure they are marked on your calendar.
  • Language – Ensure the contract is free from any unclear or ambiguous language that might be confusing to any parties involved. Even if all parties interpret vague terms in the same way, it’s best to modify the language, if possible, to prevent potential conflicts.
  • Important dates and deadlines – Be sure they are also marked on your calendar or updated as you go along and needs change.

Periodic contract reviews and updates help ensure that your business interests are protected and that you are in compliance with any applicable laws and industry regulations. You took the time to hammer out the contract, to begin with; it may need a little work now and then to continue to be a reliable and effective business tool. Whether you do this on your own or with an attorney’s help, schedule regular and thorough contract reviews so that you don’t overlook them while you are busy running your business.

Consider Enlisting Legal Help to Review Your Contracts

Although necessary and healthy for your Colorado business, reviewing and updating business contracts can become a tedious and arduous process. As a business owner, you already have enough on your plate, and you may lack the legal knowledge required to review and update your contracts adequately. It can also be challenging to keep up with national and state laws that may impact your contracts.

As such, it’s typically in your best interest to turn to an attorney or law firm that has in-depth experience performing contract reviews and updates. They can handle this task with accuracy and proficiency while you continue to do what you do best — the day-to-day management of your business. If and when a conflict does occur, you’ll know you took proactive steps to protect yourself by routinely reviewing your contracts.

 

Doug Griess and John Snow of Hackstaff & Snow, LLC, are top Denver business attorneys with expertise spanning various industries. Specializing in business law, litigation, intellectual property, tax law, and dispute resolution, John Snow and Doug Griess offer an in-depth understanding and knowledge of general corporate rules and regulations and are a trusted resource for business owners throughout Colorado.