In review

 
A wonderful performance on the violin by Ellie Kile, a senior at Edina High School, was given as members and guests arrived and were served lunch. Steve Slyce stepped in for President Ann Platt, opening the meeting with the professionalism and performance considered to be on par with that given by the Ohe children. 
 
You were greeted by David Kunz, André Brewer, Susan Johnson and Jen Tregarthen. Helping at the front desk was Ross Peterson. Stan Brown gave our invocation and led us in the Pledge of Allegiance and the Rotary Four-Way Test.
 
Jeff Ohe introduced guests and visiting Rotarians:
 
  • Libby Schmit introduced her "guest," a baby due March 17! Congratulations, Libby!
  • Greg Schwartz—guest of Wooj Byun
  • Lisa Loushin Kroskin—guest of Bjorn Freudenthal
  • Margaret Li—visiting Rotarian from Plymouth Rotary Club
Steve Buettner introduced our student guests, MacAllister Balcer and Frances Bray. Both are seniors at Edina High School. 
 
Ross Peterson gave his classification presentation. Ross is founder and president of Multiventure Properties, Inc. Started in 1984, from a spacious office space located in the Hatzung Insurance Offices complete with the cutting edge Apple 2 computers, Ross grew the full-service Association Management for Condominiums and Townhome Common Interest Communities business. Ross and his wife, Gail, currently reside in Prior Lake. They raised three children, who all currently reside in Eden Prairie, and spend every Sunday with Gail and Ross. Ross enjoys theater and is currently involved with the board of Full Circle Theater Company.

Wade Thommen and Ken Andersen introduced Ellie Kile, who performed a piece composed by Bach as an introduction for the upcoming Rotary musical evening in St. Paul set for Saturday, Nov. 19. Rotarians and guests can enjoy dinner and drinks at Bonfire Wood Fire Cooking starting at 5 p.m. with a social hour, followed by dinner at 6 p.m. Then everyone will take a short two-block walk to St. Paul United Church of Christ for a performance by the St. Paul Chamber Orchestra’s wind section at 8 p.m. Cost is $52 per person for dinner and tickets (food ordered during the social hour is paid by members/guests with a cash bar). Register here or contact Wade for more information.
 
Jean Morrison was then introduced by Steve to present our speaker for the day, Jennifer Smith, founder and CEO of Innovative Office Solutions (IOS). Jennifer began IOS in 2001 with a vision of making working professionals more productive. Since then her entrepreneurial spirit has helped expand IOS to touch on every area of office life and become a single-source office solutions company. This year, IOS was named one of the fastest growing companies in the United States, with sales growth of 84 percent in the last three years.  

Jennifer noted Slyce’s “on-time” anxiety and launched into a synopsis of what she has learned in the 15 years of leading IOS. She said there were many entrepreneurs in the room, and that there are three things entrepreneurs have in common: Risk, Reinvention and ROL.  
 
  • Year 1—launched IOS during a recession. Learned about mitigating risk.
  • Year 2 and 3—marketing: partnered with sports teams, thus associating with a more powerful brand and wrapping in charitable programs.
  • Year 4—acquired a company.
  • Year 5—culture: the purpose around culture is that relationships matter. This realization led the company to understand how to scale and treat clients and build relationships 
  • Year 6—reinvent: entered the school market. 
  • Year 7—feeling good! IOS voted one of the best places to work in Minnesota!
  • Year 8 (9,10 and 11)—2008—BIG RECESSION: IOS was an efficient and well run company. There was no fat to be cut—$15 million in sales, 25 employees (only four more than when they started!). What to do? DOUBLE DOWN! Opportunity was to bet on “things." So IOS invested in people, technology and branding. IOS grew 50, 75, and 50 percent consecutively over the following three years.  This is where Jennifer brought in ROL, the third thing she believes entrepreneurs have in common—Return on Luck!
  • Year 12, 13, 14—movement toward a paperless society. With 50 percent of revenue generated in paper sales, this was a challenge to overcome. How to retain clients, make up for a 5 percent annual decline in paper sales? IOS added furniture to their product line and created a new category. This action led to winning the US Bank Stadium business of furnishing the offices.
  • Year 15—another acquisition.
  • Year 16—reached $100 million in revenue and now have 100+ employees!
Jennifer closed her presentation with the question: “What risks are you taking? What would happen if your 'paper' were gone—how would you reinvent? Relationships are VERY important! Always be aware of opportunities—may be complementary product mix or customer-driven.
 
Jennifer then took questions from the audience:
 
What is next for IOS? Take products into solutions and services—IOS is working on building a service business of moving furniture for events, etc., for large clients as a result of their relationship with US Bank Stadium, and the opportunity to assist the client with this need. IOS is also exploring opportunities to provide service for 3-D printers.

How does IOS plan for online competition, such as Amazon? IOS already provides next-day delivery. In addition, IOS provides a “desk-top” service that goes above a simple delivery service. 
 
Some accomplishments of IOS, according to the speaker:
 
  • Ranked for four years on the Minnesota Business 100 Best Places to Work.
  • Ranked for four years in the 50 Fastest Growing Women Owned/Led Companies in North America, presented by the Women's Presidents Organization.
  • Ranked for seven years on the Inc 5000 fastest growing privately held companies in America
  • University of Minnesota Supplier of the Year Award in 2011 and 2013
Jennifer’s progressive thinking extends beyond her own business. She is also a tireless participant in local business and community organizations. As a leader and a woman working in business, she is very active as a mentor with the Women Venture Organization and as a member of the Forum for the Women’s Business Enterprise National Council (WBENC).  Jennifer recently traveled to Rwanda to support, bring awareness and fundraise for female-owned businesses there. IOS supports and funds several charities and programs throughout the Twin Cities. 

Married for 29 years, Jennifer remains active in her family and the community. With two children growing up fast, her involvement with their athletics has turned into a track record of coaching, fundraising and volunteering.
 
Josh Sprague thanked Jennifer for joining us and sharing her wisdom.  
 
Steve Slyce closed with this quote from Thomas Edison: “Our greatest weakness lies in giving up. The most certain way to succeed is always to try just one more time.”

Meeting adjourned “on time.” An anxiety-free Steve rang the bell!