S P R IN G 2014
S p on s or e d by E n te r p r is e B a n k & T rust
Be Prepared for the
Risk with Business Ownership LATINA Spotlight:
Carol Mena Q.
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IS YOUR COMPANY
On Purpose? 2014 HCC ANNUAL
Adelante Awards
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Enterprise Bank & Trust: Be Prepared for the Risks with Business Ownership Hispanic Chamber of Commerce: 2014 Job & Business Fair Latina Spotlight: Carol Mena Quick
welcome new members!
By joining, the following individuals and companies have decided to make an investment in the Hispanic Chamber of Commerce and our community at large. We encourage you to find out more about them and, whenever possible, to use their services. If you would like more information about any of these individuals or organizations, please contact us at 314.664.4432. Ascension Health
Lori L. Strawbridge, CPA
Carlos Sanchez
Los Perros Cubanos
Catholic Charities Community Services
Midwest Mortgage Capital
Hispanic Chamber of Commerce: 2014 Adelante Awards
Southside Center
Montgomery Bank
Del Carmen, LCC
PHD Lawn and Landscaping Services LLC
Risks and Solutions for Smart Phone Security
Dr. Robert Lewis
The Laclede Group – Corporate Friend
Favazza Food Group
Town Planner Promotions
Fluffy Books Online LLC.
Unlimited Pre-Pay Distribution
Gateway Reform
Virtual Health 24/7
Glazers – Corporate Friend
Who is Who in Black St. Louis
La Tremenda
World Chess Hall of Fame
Martha Garcia Kampen: Is Your Company On Purpose?
St. Louis Regional Business Council’s Mentoring Program Eagle Bank & Trust: Managing Your Money How to Write an Effective Email
spring 2014 HISPANIC CHAMBER OF COMMERCE
Dear Member/Readers, The Hispanic Chamber has been busy, to say the least! Already this year, we welcomed the Mayor of San Antonio, TX, Julián Castro, as the keynote speaker for our Hispanic Speaker Series, held a successful Job and Business Fair that connected job seekers with area employers, and celebrated our efforts to connect, collaborate, and cultivate a better future for all in St. Louis at our annual Adelante Awards!
I hope that as a member you feel the value in partnering with the Hispanic Chamber and we look forward to continuing to cultivate our programs to meet your membership needs.
As I reflect on the programs we have successfully carried out this year, I am reminded of the great community that supports us. The Hispanic Chamber of Commerce’s wish is to promote the economic development of Hispanic firms and improve business opportunities for all in the St. Louis Region and we hope that by enhancing business enterprises within the region, we will positively impact the communities around us. We believe that if we are intentional and strategic, we can assist our members in making valuable connections that will stimulate collaborations, which in turn will cultivate the prosperity of our region. By ensuring that our members grow, we are also ensuring not only the future of the Hispanic Chamber, but also that of the greater St. Louis region. I hope that as a member you feel the value in partnering with the Hispanic Chamber and we look forward to continuing to cultivate our programs to meet your membership needs. Our work for the year is not done; we have several noteworthy upcoming events. Please be on the lookout for our sister organization HCC STL Foundation’s Golf Classic which will be held on Thursday, September 11 at the Norman K. Probstein course in Forest Park. As anyone who has played in this tournament before can attest, this event is a lot of fun- one you will not want to miss! In addition to our special events, we also have our monthly Educational Forum series as well as our Business After Hours events. All of the information for these events is listed on our website – www.hccstl.com. I encourage you to participate in these, as they are a great way to take advantage of your Hispanic Chamber membership and connect with business leaders in the community. Thank you, Karlos Ramirez Executive Director
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Enterprise Bank & Trust Michael Weisman
Be Prepared for the Risks with Business Ownership. Owning a business is
one of the biggest professional risks and most rewarding experiences an individual can have. As the business owner, you are assuming most or all the risks involved with the successes, failures and everything in between for your company.
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he way to build a foundation to protect yourself, your family, employees, business partners, and assets is to:
• Know how to manage the risks involved with business ownership • Learn about the product(s) that best fit your business situation • Understand how the products fit into your professional and personal long-term goals
The fundamentals for managing risk for your business are the same if you are a freelancer or you have 1,000 employees. It is a gamble of self-insuring by using your assets to provide and cover the risks. Risks comes in a variety of forms. What you need to think about is what risks can you afford NOT to cover – disability, life, business, health care, property & casualty, long term care, retirement planning, etc.? Below are some different types of insurance and other items to consider to help you manage the risks of being a business owner. This is not a comprehensive list but rather the starting point of what to consider. Disability Insurance
What would happen if you become sick or are unable to work for a long period of time? As a business owner, you run a big risk if you are without disability insurance. More than 37 Americans are classified as disabled, about 12 percent of the total population. More than 50 percent of those disabled Americans are in their working years from 18-years-old to 64-years old. (Source: U.S. Census Bureau, American Community 4
spring 2014 HISPANIC CHAMBER OF COMMERCE
Survey, 2011.); and, just over 1 in 4 of today’s 20-year-olds will become disabled before they retire. (Source: U.S. Social Security Administration Fact Sheet, February 13, 2013.)
Disability insurance replaces income lost due to an injury from a catastrophic accident or illness beyond 90 days. It generally replaces 60 percent of the policyholder’s income from the previous year, up until retirement age (normally around 65-years-old.) The key to purchasing disability insurance is to buy it before you need it – purchase it when you are healthy. Many policies require medical underwriting, which may include a review of your medical records, blood tests and a physical. Life Insurance
Life insurance protects an individual’s family from loss of income because of death. If you have life insurance, the insurer pays a certain amount of money to a beneficiary upon your death. You pay a premium in exchange for the payment of benefits to the beneficiary. This type of insurance is very important because it allows for peace of mind. Having life insurance allows you to know that your loved ones will not be burdened financially upon your death. Key Person Insurance
Key person insurance is life insurance for the key person in the business. In a small business, this is usually the owner, the founders or maybe a key employee. These are the people who are crucial to a business’ success – if this person is gone, the business will go out of business.
The way key person insurance works is that the company purchases a life insurance policy on its key employee(s), pays the premiums and is the beneficiary of the policy. If that person unexpectedly dies, the company receives the insurance check to help the company survive the blow of losing the person who makes the business work. The company can use the insurance proceeds for expenses until it can find a replacement for the person or, if necessary, pay off debts, distribute money to investors, pay severance to employees and close the business in an orderly manner. If the company is a sole proprietorship and employs just you and no other employees or has no other people who depend on it, then key person insurance isn’t necessary. Do not confuse key person insurance for personal life insurance. If you have a spouse and / or children who depend on your income, then you should consider purchasing life insurance for that purpose. Property Insurance
If you own your building or have business property, which includes office equipment, computers, inventory or tools, you should consider purchasing a policy that will protect you if you have a fire, vandalism, theft, smoke damage, etc. You many also want to consider business interruption / loss of earnings insurance as part of the policy to protect your earnings if the business is unable to operate. Retirement Planning
The risk many business owners take for retirement planning is not funding plans at all. Many feel they cannot put money aside in retirement account because the money needs to go
back into the business, and their retirement can be funded when it comes time to sell the business. This strategy is not without considerable risk. What happens if the business fails or the owner becomes disabled? What if there is not a buyer for the business or if the sale fails to generate enough revenue to support the owner’s expectations for retirement? Many unexpected things can happen. The way to ensure that you can build a nest egg is to pay yourself first and divert a certain amount each month to a retirement plan. There is a variety of retirement plans available to entrepreneurs from which to choose, including SEP-IRAs, SIMPLE-IRAs, SIMPLE 401(k)s, small business owner 401(k) s, traditional 401(k)s, money purchase plans, profit-sharing plans, and defined benefit plans. But which one is best for you? Selecting the one that fits your particular business and personal situation and allows you to maximize opportunities to invest for your future needs to be researched carefully. Managing the risks of life is hard enough. When you are a business owner, it is even more challenging and complicated since you need to manage every aspect and ultimately make the decisions that are best for your business and personal situations. To help guide you through the decision making process on how to manage the risks, find a team of professionals you trust and know who have your best interests in mind. This team may be comprised of a financial advisor, accountant and business lawyer. Ask your business colleagues, family, friends and peers for referrals and interview the professionals you feel are the best fit for you to help put together a plan to manage your business’ risks.
Michael Weisman, CFP, is President of the Wealth Products Group for Enterprise Bank & Trust. He can be contacted at mweisman@pfginc.com
or 314-725-6900. Investment Advisory Representative and Registered Representative offering advisory services and securities through Cetera Advisor Networks LLC, Member FINRA & SIPC. Advisory Services and Financial Planning offered through PFG Financial Advisors, a registered investment advisor. Cetera Advisor Networks, LLC is under separate ownership from any other named entity.
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member spotlight Carol Mena Quick
The worst thing you can do for yourself is to get comfortable, it would be easy to stay safe but I encourage you to take a risk and find out what you love. Carol Mena Quick is an Elder and Disability Law Attorney at Debra K. Schuster, P.C., located in Olivette, Missouri. Quick earned her B.A. in Spanish Literature at the University of Missouri-Columbia, and her M.A. in Legal Studies from Webster University in St. Louis, MO. She received her Juris Doctorate and Certificate in Health Law from Saint Louis University School of Law. Quick’s prior work experience in the health care industry includes positions at Novartis Pharmaceuticals, Pharmacia Corp., Pfizer Inc. and Express Scripts. She is licensed to practice law in Missouri and is a member of the Missouri Bar Association, Bar Association of Metropolitan St. Louis, the Life Care Planning Law Firm Association, the Missouri chapter of the National Academy of Elder Law Attorneys and a Board Member-at-Large of the Hispanic Bar Association of St. Louis. Quick is a graduate of the Hispanic Chamber of Commerce of Metro St. Louis’ Latino Leadership Institute class II. Her areas of practice include adult guardianships, probate, estate planning, and other matters affecting the aged and disabled. 6
In Her Words… What Is One Tool That Has Helped You Navigate Your Professional Career? CAROL MENA QUICK: I look at life in a very optimistic way. Whatever challenges come my way I greet them with a “things will work themselves out” attitude. I believe I get this from my dad. My father grew up poor in Bolivia and he worked hard to get us to the United States and to make a life for his family here. I think if you look at life this way you can accomplish anything you put your mind to. I also believe that you shouldn’t secondguess yourself. Never talk yourself out of switching majors, career paths, or big moves because you fear instability. The best decisions I made were based on chance and hope. I went to school to study literature, attending law school was a thought I always had but at the time I wanted to follow my musical talents which led me to Chicago for the early part of post graduate life. It wasn’t until I was married, had a child, and had worked for over 10 years in the pharmaceutical industry that I decided to go back to school. Throughout my professional career it, never occurred to me that I couldn’t do something, to this day I still think that if I want to do something, I can and will. How Have You Seen the Hispanic Community Grow In St. Louis? My parents came from Bolivia in 1960; I was born and raised in St. Louis. Growing up, my family was always involved in the Bolivian Society here in St. Louis; it was a way for my parents to feel close to their roots and for us kids to get to experience our heritage. I always felt close to the Hispanic population but at times it did feel that I was living two separate lives, my home life, and my social life. I grew up in St. Louis County and went to a predominantly Caucasian school. There were times where my parents didn’t understand my Americanized social life but for the most part I never felt like I was at a disadvantage because of my heritage. Throughout my time in St. Louis I have seen the Hispanic community rapidly grow. Institutions such as the Hispanic Chamber of Commerce, Puerto Rican Society, Hispanic Arts Council, and many others have gained strength and legitimacy through support from the entire St. Louis community. This growth is inspiring to see and I look forward to continuing to see the growth of different cultures and traditions in St. Louis.
CAROL MENA QUICK:
What Advice Do You Have For Young Professionals? CAROL MENA QUICK: I strongly believe that your work life should be guided by pursuing and executing what you value. Take time to evaluate what your values are and how you can use your strengths to positively impact your work. For example, I strongly believe that being Hispanic has allowed me to see the world through different perspectives. Being bilingual and having traditional Hispanic values has helped me define my work ethic, influenced my optimistic view on life, and opened opportunities for me and others. I also encourage you to never stop learning. Push yourself to look for different work opportunities that will help you do your job better, this specific asset will help distinguish you from the crowd. Be ok with change and failure. The worst thing you can do for yourself is to get comfortable, it would be easy to stay safe but I encourage you to take a risk and find out what you love.
spring 2014 HISPANIC CHAMBER OF COMMERCE
2014 Job &
Business Fair One of the main objectives of the Fair is to attract bilingual Hispanic job seekers in an effort to assist participating vendors in their workforce diversification endeavors.
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he Hispanic Chamber of Commerce commits to managing a Job and Business Fair annually. In 2012, the Hispanic Chamber conducted its inaugural fair. The aim of the fair is to connect St. Louis businesses with talented and diverse job seekers.
2014 Job Seeker Education Attainment High School 14% Bachelor 47%
One of the main objectives of the fair is to attract bilingual Hispanic job seekers in an effort to assist participating vendors in their workforce diversification endeavors. In 2014, 22% of job seekers who attended the fair were bilingual in English and Spanish. This number is reflective of the overall Hispanic population within St. Louis which is 2.6% according to the 2010 Census.
Associate 18% Masters 18%
PhD 3%
In 2014, the job fair attracted over 300 attendees. The education levels of attendees are shown in Figure 1. The highest concentrations of bachelor’s degrees were represented by Business Administration (24%), Engineering (12%), and Information Technology (11%). The objective of the job fair is to match diverse talent with participating companies. The success of this endeavor can be seen through the potential of new hires expressed by participating companies. In 2014, 56% of companies that attended the job fair indicated that they were interested in hiring between 5-20 potential job seekers that they saw that day. The Hispanic Chamber is very proud of this statistic and we hope that you will join us at our next Job and Business Fair.
These numbers are based on resumes received by the HCC staff. They do not include applicants who did not submit a resume but still attended the fair.
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These numbers are based on resumes received by the HCC staff. They do not include applicants who did not submit a resume but still attended the fair.
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Is Your Company
on purpose? By Martha Garcia Kampen, Sr. Partner Kampen Consultants, LLC
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ast issue we discussed how to move your Strategic Plans forward, in the midst of the chaos of a growing business. This issue I want to pose the question, “Is your company focused on a singular Purpose?” Now that may sound like a silly question. You may respond that yes, you have a Mission Statement. You may also have a Vision Statement. You may even have a Purpose Statement, (though most organizations do not). That is all fine and well, but the real question is: is everything in your company — (your product offering, your employees, your customer service, your marketing messages, the delivery of your product to your customers) — all engaged, integrated and aligned toward a singular purpose? When all aspects of a business are aligned toward a specific, well-understood, meaningful PURPOSE, then the entire business will work more harmoniously, effectively and, ultimately, be more profitable. So how does a leader move their organization to the next level of productivity and profitability? Answer: By bringing all aspects of the business into alignment to The Purpose of the organization. In my many years of consulting with company CEOs and leaders to develop their strategic marketing plans, I find
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spring 2014 HISPANIC CHAMBER OF COMMERCE
that while the leader may have a clear vision of his/her organization, the rest of the team may not. Or if a vision is clearly communicated, the employees do not have clear direction on how to match their daily activities with those of the stated vision. What’s more, they don’t really seem engaged and excited about the work they are doing; they don’t have a clear understanding of how their individual efforts fit into the big picture. Some years back, I came across a concept that for me was revolutionary. It was so simple and yet so profound; the concept of understanding one’s purpose, then driving everything else in life toward fulfilling that purpose. And it is a concept applied to the workplace as well. Kevin W. McCarthy, the author of “The On-Purpose® Person,” “On-Purpose® at Work” and “On-Purpose® Peace,” and CEO of On-Purpose® Partners, LLC, (www.on-purpose.com), has helped many companies and organizations — from Fortune 500 corporations to micro-businesses — hone the purpose of their business, and align their organization toward that purpose. The Purpose must be meaningful, genuine, honest and impactful. With a stated company Purpose, your
When all aspects of a business are aligned toward a specific, well-understood, meaningful PURPOSE, then the entire business will work more harmoniously, effectively and, ultimately, be more profitable.
organization can more effectively align efforts for greater productivity and impact. When I have incorporated this concept with my own strategic planning process (see Winter 2014 issue of En Contacto! Magazine, page 8-9), the results have been game-changing. Team members are more focused and engaged. They have a better handle on how to prioritize their day, instead of simply reacting to the day’s fires. Managers are more involved in their team members, working more as a team coach and leader, rather than just a task-master. And the CEOs, Presidents, Executive Directors and Owners, genuinely revered by their staff for casting true vision for them, are more effective in leading their organizations toward greater productivity and profitability, knowing their employees are working with them in the same Purpose.
The On-Purpose® Coach, Kevin W. McCarthy, (www.kevinwmccarthy.com) advises to determine your company’s purpose, start by answering these three questions: 1. My business serves me by 2. My business serves my customers by 3. My business serves my community by Then roll them together to a Purpose Statement: We exist to serve by
Martha Garcia-Kampen: First-generation Mexican-American, Martha was raised bilingually and bi-culturally. Having studied in Guadalajara, Mexico, Martha launched her career in Hispanic Marketing to the U.S. With extensive experience in marketing research, planning and implementation, Garcia-Kampen provides generational and cultural strategic marketing consultation to businesses, educational development on cross-cultural communications and trains corporate leaders and teams in the areas of inclusion and diversity. Contact Info: Kampen Consultants, LLC 745 Craig Road, Suite 212, St. Louis, MO 63141. 888-887-6536. Martha@kampen.com • www.kampen.com
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2014 Adelante Awards Hispanic Chamber of Commerce
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The Hispanic Chamber of Commerce of Metropolitan St. Louis Announces their 2014 Adelante Award Recipients
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Enterprise Bank & Trust, NextGen Information Services, Inc., and Garcia Properties were recognized at the 2014 Adelante Awards.
The Adelante Awards are a way to celebrate and recognize the achievements of individuals, entrepreneurs, and corporations in the metro St. Louis Area. The awards focus on individuals who have contributed to the betterment of not only the Hispanic community, but the St. Louis Community at large. We were honored to see so many community leaders turn out for this event.
spring 2014  HISPANIC CHAMBER OF COMMERCE
pril 25, 2014 (St. Louis) — Eight St. Louis community businessmen and companies were recognized by The Hispanic Chamber of Commerce of Metropolitan St. Louis on April 25 at the Annual Adelante Awards dinner at the Double Tree by Hilton.
2014 Adelante Award winners Civic Award of the Year
Cecilia Nadal
Hispanic Emerging Business of the Year
La Ke Buena Radio Station
Hispanic Company of the Year
Garcia Properties
Hispanic Businessperson of the Year
Carmen Jacob —Founder & CEO, NextGen Information Services, Inc.
Hispanic Chamber of Commerce Member of the Year Tony Maldonado Hispanic Business Advocate of the Year
Enterprise Bank & Trust
Hispanic Lifetime Achievement Award
Jaime Torres
2014 Hispanic Chamber President’s Recognition
Rodney Boyd —Dentons Law Firm
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Risks and Solutions for Smart Phone Security By Miguel Aguilar, HCC Spring 2014 Intern
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mart phones are used both for personal and business purposes. This unique combination of capabilities makes the use of smart phones really convenient; however, managing security risks is a bigger challenge in smart phones than in PCs. The approach to manage security policies must be different because smart phones offer unique technical and connectivity attributes. As a result, we need specific policies for managing smart phone security risks. Knowing the Risks We know that smart phones are used as business instruments but we also need to know that smart phones do not use conventional network security within these businesses. We also have to add that criminals target smart phones often. This makes every unprotected smart phone a risk towards the entire business. So every smart phone needs to be a secure device. As a result, effective security policies are essential to any business.
phone could be used for any malicious purpose. Passwords or encryptions are not good (enough in the case of lost and stolen smart phones. Phishing and Social Engineering It takes advantage of current events to attract the users into downloading files or opening malicious websites. Fraudulent links are sent by SMS or email to a smart phone and waits for a careless action from the smart phone user. Most of the advertising is about drugs or fake pharmacies that promise good deals and discounts to customers.
Insecure PIN Users have assumed that the PIN used for authentication protection in smart phones is strong and secure. That is an incorrect assumption because the fourdigit pin can be bypassed easily. A fourdigit pin can be cracked in milliseconds just by trying every different combination until the right password is guessed. After the password is cracked all the data stored in the iPhone is vulnerable and An essential part of managing security is there would be no sign that the smart keeping in mind some simple errors that phone was hacked. a lot of people make when using their Solutions Start with a Better Attitude smart phones. It is important to both The main problem we face is the users’ know what the problems are and what attitude towards smart phone security we can do to avoid the problems from policies. The attitude is very different hurting our business or ourselves. from the users’ attitude towards laptop or PC security. Most users act as if smart Stolen and Lost Phones Most security breaches happen because phones are not vulnerable to any security threats. This lack of awareness of lost or stolen smart phones. This includes improper disposal of the smart is the biggest problem about smart phone security. phones where fully functional smart
the first thing is to change our attitude. We need to stop thinking and assuming that the smart phone that we are using is the most secure device invented. We must be realistic about the advantages and disadvantages of the smart phone we are using. We must stop thinking that all our data will be secure with a simple PIN or that losing our smart phone will have no consequences. If we change this mentality, then we would be able to start making smart phone security a more serious issue. We need to start thinking better when using our smart phones in our daily life. What to Do Next? This should be an eye opener for anyone who thinks that smart phones are safe and impossible to hack. The different types of attacks make smart phones vulnerable if we do not take the necessary precautions. Businesses need to start developing comprehensive security programs for smart phones. The most important aspect to change is the attitude of users. It is impossible to achieve a more secure use of smart phones if the users assume that their phones are impossible to hack. A vigilant attitude is a must so as to protect both personal and business information.
Smart phones are constantly evolving both in their positive and negative characteristics. This means that the security risks are constantly evolving. Constant vigilance is the only way of phones are thrown away without deleting There is a lot that we can do to manage maintaining smarter security for any data stored. When a smart phone is the security of our own smart phones but smart phones. lost or stolen, all the information in that 12
spring 2014 HISPANIC CHAMBER OF COMMERCE
St. Louis Regional Business Council encourages Hispanic students to apply for mentoring program with local executives; seeks business people interested in mentoring.
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ach year in August, the St. Louis Regional Business Council (RBC) works with 14 regional universities to select participants for its Mentor Network program. This year the program seeks to increase the participation of Hispanic students who are mentored as well as increase the number of Hispanic professionals serving as mentors in the program. The yearlong Mentor Network program works specifically with junior and senior-level students pursuing business, engineering, and/or information technology degrees and matches them with executive-level coaches from local companies. Through the mentor/mentee connection, the RBC seeks to educate students about successful companies in the St. Louis region and encourage the students to consider jobs in the region upon graduation. Mentors can serve as a resource to students who want to know more about specific career fields or need general advice about resumes, networking, and professional etiquette. While the program does not guarantee an internship or job offer, many students develop strong working relationships with their mentor that result in career opportunities. “The RBC’s Mentor Network helped open doors for me,” says former Mentor Network participant Carlos Cuartas. “Being able to make a connection with a seasoned professional in the field I wanted to start my career in was a game changer.” As a mentee, Carlos was matched with an executive level mentor at The Boeing Company, where he is currently employed. The 2013-2014 academic year saw the largest number of mentor/mentee matches in the program’s eleven year history. The RBC was able to match 145 students with executives from more than 60 different companies. In addition, the RBC partnered with the Mosaic Project and selected 11 international students for the program, matching them with executives whose companies support the retention of foreign-
born talent in the region. During the 2014-2015 academic year, the RBC will work with university partners, the Mosaic Project, and additional regional employers to expand the number of international student mentees. Native and foreignborn students are selected for participation based on strong academic performance, leadership outside the classroom, and openness to stay in the St. Louis region upon graduation. Over the course of the academic year, students and mentors meet one-on-one to discuss topics specific to that student and his or her career aspirations. Students and mentors are also encouraged to participate in the Fall and Spring networking receptions that provide opportunities to meet students from across the network as well as professionals from a variety of RBC companies. At the receptions, students have a chance to meet with HR professionals from RBC companies to learn about opportunities and hear from RBC executives who share personal and business insights. The RBC Higher Education Collaboration, which encompasses the Mentor Network program and other activities with regional schools, is a business partnership with the schools of business and engineering from 14 of the leading colleges and universities in the St. Louis region including: Fontbonne University, Harris-Stowe State University, Lincoln University, Lindenwood University, Maryville University, McKendree University, Missouri University of Science and Technology, Saint Louis University, St. Louis Community College, Southern Illinois University Edwardsville, University of Missouri-Columbia, University of Missouri-St. Louis, Washington University, and Webster University. The collaboration acknowledges that local colleges and universities are some of our region’s most valuable assets, and their students need to be supported, nurtured, and developed. This is part of the RBC’s overall efforts to attract and retain a talented and diverse workforce.
Founded in 2000, the RBC is a consortium of presidents and CEOs from 100 of the region’s largest companies. The RBC is dedicated to enhancing quality of life and the growth of the St. Louis region. The RBC collectively represents 120,000 associates in the St. Louis region with $60 billion in annual revenues in the region. The mission of the RBC is to act on high-impact business, civic and philanthropic initiatives for the betterment of the 16-county St. Louis region.com • www.stlrbc.org. For more information about the Regional Business Council’s Mentor Network Program visit our website at www.stlrbc.org/highered.htm or contact Adam Singer at the RBC at 314-225-2102. The RBC is recruiting now for student participants in the program as well as for executive-level mentors in regional companies with a desire to give back by sharing their time and knowledge with a promising student.
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Eagle Bank & Trust Christin Lux, Communications Coordinator
It is important to know how you can spend your income, so you know how much to have to spend after bills and fixed expenses.
M a n a g i n g Y o u r M o n e y. . .
Track How Much You Spend!
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hat is the key to successful money management? There are many aspects to effective budgeting, but the key is to keep track of your daily spending. An easy way to do this is to keep all of your receipts so you can reference them at the end of the day, week, or month. Retaining receipts helps you maintain your account balance and stay within your budget. It is important to know how you can spend your income, so you know how much to have to spend after bills and fixed expenses. A great way to budget is to fill out a spreadsheet of your monthly expenses. This gives you an idea of what you have left over after you pay all of your bills. How do you track what goes in and what goes out? Eagle Bank and Trust has a great tool for managing your finances. Mobile monē pulls all of your financial accounts into one place. It is an FDIC-insured mobile wallet that allows you to send, receive, and transfer money utilizing the latest technology for mobile wallets. Budgeting can also help you find places where you can save. Are there things you are paying for that you could live without? Maybe you do not need the deluxe cable package, the satellite radio, or the land telephone line. Cash can slip through your fingers if you are not careful with your day to day expenditures. By knowing the details of your monthly expenses, you can see which areas of your budget are areas of necessity and which are areas of luxury or non-necessity. Be consistent and truthful in your tracking, and if you make a mistake forgive yourself and make a commitment to doing better the next time!
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spring 2014  HISPANIC CHAMBER OF COMMERCE
How to Write an Effective
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mails are the most common document in the business world. Unfortunately, many emails are so poorly written that recipients must struggle to figure out why they are reading the email in the first place, what they’re supposed to do with it, and what is the call to action from the sender. One way to stand out among your peers and colleagues as an effective communicator is to write with clarity and conciseness, especially when it comes to writing emails. You will be able to share your thoughts and ideas, and help persuade others to take action. Below are tips for writing effective emails: Have a Specific Decision in Mind Before You Write the Email The goal of an email is always to get the recipient(s) to make a decision of some kind. If not, why bother writing it? Therefore, before you write anything, ask yourself: exactly what decision do I want the recipient to make? As with all business writing, vagueness is the opposite of useful. The clearer the goal, the more convincing your email will be. Start with the Conclusion… Be Direct in the Opening The conclusion of your email is a statement of the decision that you want the recipient to make based upon the contents of your email. Nobody in the business world has time to wander through the development of an idea. If you don’t tell them the reason for the email immediately in the first sentence, chances are the reader will move on to other emails without reading your email. Simple Words Favor plain, clear words and phrases over technical terms, jargon, or buzzwords. Take care not to complicate your vocabulary or stiffen your tone in an attempt to seem more businesslike or perceived as an expert. Use Standard Capitalization and Punctuation Conventions of good writing may seem like a waste of time for email, especially when you are tapping out messages on a smartphone or tablet. It is a matter of getting things right
— the little things. Even if your colleagues don’t capitalize or punctuate in their messages, you will stand out as someone who does and pays attention to detail. Rushed emails with typos and punctuation mistakes demonstrate carelessness. It takes less time to write a clear message the first time than it does to follow up to explain what you meant to say in a second email. Formality with Business Colleagues, which Includes Work Friends Standards for business correspondence have become more relaxed. Maintain a professional tone, avoiding slang or textspeak, exclamation points, and overly informal salutations and sign-offs. Be cautious about making exceptions about formality when corresponding with coworkers or associates you consider friends or confidants. Just because you are more relaxed when speaking with work friends in person does not mean you should do so in email messages and other communications like text messages. You can drop the formality a notch. Be mindful not to show a lapse in professional behavior. Make the Subject Line Count The subject line is the most important part of an email, which is why you should write it last, after you’ve written your email. The subject line needs to accomplish two goals 1) Grab the attention of the recipient enough so that the email is opened and read, and 2) move the recipient to action after reading your email. Copy People Judiciously Include only those who will immediately grasp why they’re included in the email. Don’t automatically use “Reply All.” You will annoy recipients who don’t need to know the followup response. It’s one more unnecessary email that is now in their inbox. Also, avoid using the Blind Courtesy Copy — BCC — unless you are quite sure it is necessary. It could give you a questionable reputation for being indiscreet.
Ann Marie Mayuga is a partner with AMM Communications, LLC, and is a member of the Hispanic Chamber of Commerce of Metropolitan St. Louis. Founded in 2008, AMM Communications LLC, public relations, marketing and training agency of St. Louis, Missouri, provides PR, business development, crisis communications, content marketing, internal communications, executive training, marketing, media relations, reputation management, and search consulting. AMM Communications works with small- and mid-sized businesses nationwide. From 20102012, the agency was voted as one of the top 25 St. Louis public relations firms by the readers of Small Business Monthly. For more information, please navigate to www.ammcommunications.com or call 314.485.9499.
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