2013 Summer ¡En Contacto!

S u m m er 2013

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Passage of immigration

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S p on s or e d by E n te r p r is e B a n k & T rust

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SPOTLIGHT:

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THE HISPANIC MARKET

CARMEN JACOB IN POPULAR american culture

[Letter from the Executive Director]

Thank you for being supporters of the Hispanic Chamber, with your help we can continue to shape a better region for all who live and work here.

Dear Member /Readers,

s u m mer 2 0 1 3

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Passage of Immigration Reform Projected to Drive up Housing Demand

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Spotlight: Maria Del Carmen Jacob

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A Latina’s Perspective on International Business

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The Hispanic Market in American Culture

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Does Your Company Need a Cross-Cultural Communications Program?

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Word-of-Mouth Advertising for Your Small Business

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The Business of Selling

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Closing the Latino Leadership Gap

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Is summer over already?

The reason it must have flown by for us is because the Hispanic Chamber has had so many events and we are already gearing up for more! One of our biggest achievements of the summer was the purchase of our Centene Technology and Resource Center. It seems like it was just yesterday when we began our Capital Campaign in June of 2012; today we are proud to say that we have closed our campaign and purchased our headquarters, raising over $220,000.

This achievement was made possible by the support of our members, specifically our corporate sponsors who donated to our campaign.

like to help formulate the Hispanic Chamber’s future, please contact me.

In addition to our special events, we also have our monthly Educational Forum Lunch and Learn 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, hone your skills and connect with business leaders in the community.

Over the years the Hispanic Chamber has worked hard to become the cornerstone of the Hispanic business community. We have experienced great growth and value all of our In September, the HCC STL supporters that we have encountered Foundation had its 7th Annual Golf throughout the years. Thank you for Classic. This event was a lot of fun being supporters of the Hispanic and proceeds from the event went Chamber, with your help we can to support the Hispanic Chamber’s continue to shape a better region for charitable arm. The Foundation’s aim all who live and work here is to accomplish charitable purposes, focusing on the Hispanic community Thank you, of the metro St. Louis area.

As we approach Fall, the Hispanic Chamber has much to look forward to. In October, we will have our annual Board of Directors Elections.

If you or someone you know would be an asset to our Board and would

summer 2013 HISPANIC CHAMBER OF COMMERCE

Karlos Ramirez Executive Director

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 Coldwell Banker Gundaker Commerce Bank – Friend Level Energy Team in Missouri Fifth Third Bank – Friend Level Garcia Properties –Friend Level International Language Center Kampen Consultants, LLC Magic Auto Spa Marroquin Insurance Group Remax Gold St. Louis Science Center The Sheldon Concert Hall & Arts Galleries Victor Marmolejo World Pediatric Project

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Passage of Immigration Reform Projected to Drive up

Housing Demand.

Those looking to buy should be prepared for an even more competitive housing market.

By Enterprise Home Loans, a division of Enterprise Bank & Trust —Brett O’Daniell

The National Association of Hispanic Real Estate Professionals (NAHREP) recently released a report that indicated their support for the passage of immigration reform that would grant millions of undocumented immigrants a pathway to U.S. citizenship. According to the association’s estimates, roughly six million undocumented immigrants are likely to pursue legalization and possibly citizenship. Of that number, half of those immigrants — about three million — are likely to become homeowners.

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lready, Hispanics have been leading the housing market.

Census figures last year showed year-over-year that Latino homeownership had jumped by 7.3 percent from 6.2 million to 6.7 million, growing while homeownership by African-Americans and Caucasians dropped in that same period.

Because of their lack of proper ID, credit history or employment options, undocumented immigrants currently encounter hardship buying a home.

Under the immigration proposal from the bipartisan U.S. Senate panel, NAHREP projects more undocumented immigrants will be legalized and will begin to buy their own houses, providing a booster shot to the housing market. This would flood the housing market, which is already experiencing low housing inventory levels, leading to even stiffer competition for those looking to buy.

As home prices continue to recover and interest rates remain at nearrecord lows, some houses are currently receiving multiple offers. To win the bid, buyers are finding that they need to stand out from the crowd.

Get Preapproved before starting to look It is typically helpful for buyers to have their home loan pre-approved and down payment ready before starting their home search. Getting prequalified for a mortgage gives you guidance as to what you can afford to buy and will streamline your search process. When you know what you can afford and are preapproved, you won’t be shopping outside of your price range.

If you’re financing your house with a mortgage, it’s helpful to have a preapproval letter with you. Getting preapproved can help you compete with an all cash buyer. The pre-approval process requires the homebuyer to complete

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summer 2013 HISPANIC CHAMBER OF COMMERCE

an application and provide verification documents for income, assets, employment history and credit.

Planning ahead will make an offer more attractive During the pre-approval process, check your credit for accuracy and avoid making any big purchases or taking on any big debt during this time. If your debt-to-income ratio is too high, your mortgage loan officer may recommend paying down as much debt as you can to lower this ratio.

Remember that cash is king The more cash you have, the more appealing you may be as a buyer.

Putting 20 percent or more down makes you look more financially stable and gives sellers comfort that you’ll qualify for a mortgage.

Limit contingencies Most real estate agents recommend having as few contingencies as possible to be an alluring buyer. Certain

contingencies based on your ability to get a mortgage, such as the appraisal and home inspection are standard, but piling on more could make the seller less inclined to work with your offer.

Making your offer contingent on selling your house first will make you a less appealing buyer. If you need to sell your house before buying a new one, it may be beneficial to sell your home first and rent or move in with family or friends while you look for your new home.

Use technology to monitor the housing market Experts suggest using a home finding service to look for homes that meet your search criteria. This way you can keep informed on what homes are for sale in the local housing market. Ask your loan officer about the Home Scouting® service, available in both English and Spanish. It’s a free, personal, password protected website that includes pictures, prices, addresses & directions to every property for sale in the neighborhood

where you are shopping. The mobile version displays homes closest to your physical location.

Don’t wait days to make an offer With the speed at which homes are now moving, buyers with a pre-approval attached to their bid are more likely to be considered than those without one.

It is never too early to begin the preapproval process, and much like health concerns, early detection is the key.

Underwriting requirements for issuance of home loan pre-approval: • A buyer’s ability to repay the loan by reviewing current income verification items and historical income from two years of consistent past employment.

• Verification of the cash needed to close by reviewing the source of the down payment, closing costs and cash reserves after closing.

• Evaluation of the buyer’s credit history with specific attention to the middle credit score, any derogatory accounts like collections and disputed accounts, and any public records related to foreclosure, bankruptcy and judgments.

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“

I advise you all to ask questions, take risks, and if you find yourself in the wrong field, pick yourself up and explore others.

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Member Spotlight

Maria del carmen Maria del Carmen Jacob came to the United States in 1972 when her husband completed his service in the U.S. Army. Her early business experience included health care and banking. She holds degrees in Nursing and Business from schools in her native Guatemala. In 1997 Jacob partnered to found and develop a staffing services corporation providing temporary staffing needs to Fortune 500 companies. That company is NextGen Information Services, Inc., which is a leading provider of staff augmentation to St. Louis and other national companies throughout the U.S.

that has made NextGen successful.

Your employees are what keep your company running, happy employees are more invested and therefore have more motivation to stay and work hard.

How have you overcome challenges?

CARMEN JACOB:There is a lot more

IN HER WORDS...

competition now, and sometimes people think that because we are a smaller company that we can’t deliver. I have been told no before, but I always tell myself that I shouldn’t take it personally, I rather think o fit as a no for now, that maybe this isn’t the right time, but I know that the door isn’t shut. I don’t let my challenges bring me down, obstacles are called challenges for a reason, they are difficult but something that you can overcome.

What values have you picked up on the road to success?

What is some advice you have for the Latina’s out there?

CARMEN JACOB: My passion for people

CARMEN JACOB: All young people need

Jacob currently serves as Board Secretary for the Hispanic Chamber of Commerce of Metropolitan St. Louis.

is a value that I have always had and I think it is my appreciation for my employees

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jacob

to stay motivated, find yourself a mentor and figure out what interests you. I advise

you all to ask questions, take risks, and if you find yourself in the wrong field, pick yourself up and explore others. You need to realize that there are so many opportunities in this country, getting there won’t be easy but you have so many opportunities out there. I came from a very humble home in Guatemala, and sometimes I think about how proud my mother is of me and my ability to seize my opportunities and work hard.

NextGen is a Certified Woman-Owned Enterprise and a Certified Minority-Owned Enterprise. Jacob and her company have been recognized by the St. Louis Business Journal and Inc. Magazine throughout the years for their continued commitment to diversity in the work place. In addition, other awards include the peer-nominated St. Louis Diversity Supplier of the Year, awarded by the St. Louis Minority Business Council, the St. Louis City Diversity Spotlight Award , and NextGen was named the 2013 Hispanic Company of the Year by the Hispanic Chamber of Commerce of Metropolitan St. Louis.

The purpose of the “Spotlight” column is to highlight notable Hispanics that are members of the Hispanic Chamber. We want to share their stories, their history and why they love to call St. Louis home. If you have a suggestion for a “Spotlight” column, please call 314.664.4432.

summer 2013 HISPANIC CHAMBER OF COMMERCE

A Latina’s Perspective on International Business

By Olga Basilio, Hispanic Chamber of Commerce 2013 Summer Intern

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s a candidate for International Business at the University of Missouri-St. Louis, I have the inside scoop of the thrills I’m looking forward to after I graduate in spring of 2014. The field of International Business, although it has proven to be quite difficult, has not let me down from the day I concluded I wanted to be a business woman four years ago, if anything, my expectations have been exceeded.

international laws, and global awareness.

As Latinos, we should not overlook the opportunities we have in this country. Upon arriving to the United States 11 years ago, I would have never imagined how fortunate I was to know more than one language. I am a native of America, hence, as part of my culture and obligation, I know the dialect Mixteco, derived from the Otomanguean language family. Through public education in Mexico, I learned how to speak and write Spanish, arriving to the United What exactly is International Business?

States furthered my oral communication International Business is a cross border by learning English. In my field of transaction of services, goods, and other International Business, this became the resources between two or more countries. most advantageous tool to have as a Latina.

During these commercial transactions, nations have to mutually benefit. Our country As the Latino community continues to grow runs on profits, and in the present economy, in the St. Louis area, so do opportunities.

In my perspective, getting our community small businesses and investors all have involved in International Business could their eyes on the foreign market because prove to be very economically beneficial. that is where the money is. The field of In the first place, Latinos already have International Business itself is extremely an advantage over the rest of the labor broad and has career opportunities for force, they are bilingual. As a result, people in the banking, economics, finance,

law, contractors, insurance, construction field, and many more.

In this field, it is not necessary to have an International Business degree, anyone can enter the international workforce, but because of our growing economy, most businesses are looking to expand and invest in foreign countries, for these reasons, international degree holders have become very valuable assets. In our metro area St. Louis, the University of Missouri-St. Louis (UMSL) does not allow a student to graduate without an international business experience. UMSL requires a student to do three things to gain experience: firstly, to study abroad, secondly, to complete an international internship approved by the International Business Institute, and lastly, to complete a minimum of 1 year of international business experience through Peace Corps, volunteer work with organizations, missionary work, an international posting by a company or government agency or other similar works where documentation is essential for approval. Clearly, international business graduates are well prepared and equip to enter the global business. These graduates are well acquainted with economics, accounting, finance, marketing, basic

becoming translators and interpreters in any foreign market and field will not cost a thing. Other Opportunities include being an entrepreneur in home country or foreign country, export/import manager, bank manager, sales analyst, franchise opportunities, and immigration specialist, just to mention a few. In the current economy, most companies are in some way involved in international affairs and that is causing employers to hire more people with knowledge of the international field, as Latinos, there is no language barrier, we have understanding of different cultures and minorities, as a result, we have the upper hand in succeeding in this rising economy.

Unlike other jobs, this field has one of the most attracting benefits of all, traveling.

Four years ago, I dreamed of traveling the world, now that dream is a step away from becoming a reality. I plan on starting up with a small firm that is involved in trading or sales and with my Latina perspective and internships experience, I will have what it takes to represent such firm in another country. With traveling come other privileges: different food, culture, diversity and perspective. International Degree Holders such as myself, have job opportunities and positions available

all around the globe. Depending on the person’s education and experience, salary varies. International competition can also be viewed as an advantage because it allows a businessperson to acquire learning experience in competing with the “big guns”.

There are also challenges to this field.

The foreign market includes culture understanding and communication (not just speaking, but also symbols). Message transfers are interpreted differently in all cultures, for example, watching a Spanish movie with English subtitles or vice-versa.

The messages are not translated correctly, same thing with the communication in business. As I mentioned above, Latinos have a huge advantage knowing English and Spanish, but the business is not only located in the United States and Latin America, top capitalistic countries involve Germany, China, India, Japan, Canada, Sweden, and Australia among others. Understanding the culture in each of these countries is an advantageous tool for making business.

An additional challenge in this field is in the legal area. An individual or business planning to go international needs to have basic understanding of foreign laws and regulations. The economy runs differently in every country, the market, land structure, politics, and ethics all play an important role in the success of an individual or business.

One more challenge that needs special consideration for people thinking about this field is family. There has to be mutual understanding about the field. International business requires traveling, couples/families need to be willing and able to move as the job requires.

In summary, International opportunities are going up. International business degree graduates are in high demand. Corporations and small businesses have their eyes on the global market and the high profit foreign investments. Furthermore, countries involved in foreign investments have proven to lead to a faster economic development and growth. Latinos have an advantage in this field regardless of International Business degree because they already know the main two languages. Myself, I will graduate with experience and will be well prepared when I start my job hunt this spring as an International business woman.

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Hispanic Market

The always has been more diffuse and layered than generally understood in popular American culture.

By Gilbert Bailon

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he number of U.S.-born and raised Latinos now surpass those who arrive as firstgeneration immigrants. Hispanics have long known about their mixture of nationalities, language dialects, regional cultures and distinctive traditions.

Now, recent developments have highlighted how Latinos increasingly are using English-language news media, which has inspired the forthcoming establishment of a 24-hour cable news channel this fall that will target bilingual Latinos.

Similar to the overall Latino population, estimated at 53 million people nationwide, Spanish-language media have been growing at phenomenal rates with their audience and advertising revenue. From news and entertainment to sports and novelas, the Spanish-language media will continue to thrive as the Hispanic population is projected to grow for decades.

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summer 2013 HISPANIC CHAMBER OF COMMERCE

The Pew Research Hispanic Center released a survey in July showed that 82 percent of Latino adults in the United States get some of their news from English-language news media. Meanwhile, the number of adults who get some news from Spanish-language fell from 78 percent to 68 percent, yet two-thirds of the Latino population access Spanish-language news media.

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Choosing the best language to communicate with the Latino market is not a zero sum game. Marketers and business leaders must define the specific audience desired, understand those special nuances and communicate with a cultural and regional sensitivity?

The study said the rise in English-language media usage was driven by Latinos who access only English-language media. The number of adults who exclusively get news from Spanish-language media fell from 22 percent to 18 percent.

But do not misconstrue those trends as a harbinger of doom for Spanishlanguage media, which Latino consumers rate well for accuracy and their role in the community.

The takeaway is that bilingualism is increasing rather than Spanishlanguage media retrenching.

For the Latino community, bilingualism opens doors that bridge cultures and commerce. Despite some concerns about possible immigration reform, Latino assimilation clearly is escalating at a significant pace.

The Pew study states that 800,000 U.S.born Latinos enter adulthood annually.

And U.S.-born children now surpass the number of foreign-born people migrating to the United States.

Latino children are living blended lives that might or might not involve fluency in Spanish. But other Pew studies show that most Spanish-speaking parents are encouraging their children to be bilingual.

families and language of their parents’ and grandparents’ native land. One need not make a choice of forsaking one for the other. Hence, bilingualism and biculturalism can co-exist.

The study also showed that 59 percent of the Latino speak proficient, if not fluent, English. That will continue to grow as immigration flattens out and U.S.-born births increase.

Choosing the best language to communicate with the Latino market is not a zero sum game. Marketers and business leaders must define the specific audience desired, understand those special nuances and communicate with a cultural and regional sensitivity. Many times a variety of methods is most effective.

Messaging for a product or service to Hispanics can vary widely from a Texas border town to a south Florida enclave or an East Coast urban environment.

In a Midwestern city such as St. Louis, no one Hispanic nationality or Hispanic subculture defines the majority of the Latino population so a more neutral appeal might work best.

Like previous immigrant waves, Latinos’ command of Spanish will decline overall as their families span generations, just like the Italians, Poles, Germans, Chinese, and many other immigrants.

As for news media consumption, language is important but bilingual Latinos patronize Spanish-language because it provides special programming, cultural perspective, more depth and international news that often is missing or lacking context in the mainstream media.

Yet global and technological connections allow second- and third-generation immigrants to remain tethered to the

Now, a new media vehicle will come into U.S. living rooms on Oct. 28 that will target English dominant or

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bilingual Latinos. Univision and ABC are launching a 24-hour cable news channel called Fusion.

Univision and Telemundo are the dominant Spanish-language television networks, which also include Azteca America, CNN Latino and Mundo Fox. Univision and Telemundo already have created spinoff networks such as Telefutura (focuses on U.S. entertainment and sports), UniMas (sports), Mun2 (bilingual millennials).

But Fusion is a bold play into the burgeoning bilingual Latino market, which also aims to attract well-educated and higher-income viewers who already consume English-language media.

Fusion is banking on an untapped desire for culturally news and information.

Fusion also will mean that non-Spanish speakers from many cultures can get window into the Latino culture as well as its movers and shakers. Spanishlanguage media have been booming nationally, but they have flown under the radar for many Americans.

In addition, next year filmmaker Robert Rodriguez in cooperation with Univision, will launch the English-language entertainment network named El Rey, which will target Latino millennials.

The Latino market is no monolith for which one size or one language fits all.

And that continued layering presents opportunities for those who seek to reach the biggest population growth in the country.

About Gilbert Bailón: Editor of the St. Louis Post-Dispatch, Gilbert became the editor of the St. Louis Post-Dispatch in May of 2012. Prior to that, Bailón had been editorial page editor of the Post-Dispatch since November 2007. He previously worked at the Dallas Morning News, where he was vice president and executive editor. Bailón also worked at the Fort Worth Star-Telegram, The Los Angeles Daily News, The San Diego Union and The Kansas City Star. Gilbert was recently inducted into the “National Association of Hispanic Journalists.”

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Does Your Company need a Communications Program?

cross-cultural

By Kampen Consultants, LLC —Martha Garcia Kampen, Sr. Strategist

Why would a St. Louis-based firm consider a Cross-Cultural Communications Program?

Is this something that can actually impact the bottom line? Is it really necessary in our St. Louis market? Let’s consider a few stats regarding our changing labor force: • In 2011: 33% of our workforce were considered “minority” • By 2030: 43% of our workforce are expected to be “minority” • B y 2050: More than one in five working-age people will be foreign-born, with nearly a third of these individuals from Latino backgrounds.

• F or the first time in U.S. history, we have four distinct generations working together, each with its own sense of authority, fairness, communication and work ethic.

• W ith the aging of the traditional workforce, younger workers are more likely to come from various minority groups, predominantly from the Hispanic and Asian cultural groups.

• B oomers, those currently age 45-65, are dominant leaders and will need to work through traditional retirement age, causing inter-generational policies, standards and communications to be challenged.

• M ore people will self-identify as LGBT, requiring recognition and inclusion.

• M ore people with disabilities will be entering the workforce requiring engaging work and inclusion.

• T he St. Louis Metro has approximately 126,500 immigrants, comprising nearly 7% of the region’s population.

• M ore than 65,000 St. Louisans identify themselves as Hispanic; the majority of whom are American-born citizens and legal residents.

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• One in four people in the St. Louis Metro is of a minority group.

summer 2013 HISPANIC CHAMBER OF COMMERCE

The facts are clear; we have an increasingly diverse workforce, with multiple value systems, communications styles and paradigms.

But why is it important to assure an inclusive communications environment in the workplace?

Does it really matter?

Here are five ways a CulturallyInclusive Communications Program can benefit your workplace: © Positive Morale – Studies prove

that employees who feel valued and included by their team peers and leaders are more likely to exhibit positive behavior on-thejob. This positive behavior in turn, proliferates throughout the organization. © Increased Productivity – A CrossCultural Communications Program will improve productivity through a greater understanding of the diverse communication styles within our work teams. A good program will provide your leaders with the tools needed to improve cross-team communications and cohesive progress toward common goals. According to one study, employees’ “Discretionary Effort” improved 12% when they believed their company was diverse and inclusive. © C reative Problem-Solving – Many examples exist of companies who employed a team of diverse talent who collectively resulted in better, more creative solutions to standing problems. Approaching problems from a new perspective many times results in a new solution.

© Employee Retention – Employers know all too well, the high cost of recruiting, training and developing talent, only to have them leave for another opportunity. It is far more beneficial to retain talented employees. Employees of diverse backgrounds will remain loyal and thrive in an environment that appreciates the unique perspective, talent and skills they bring to their work team. It is also noted, that our younger talent, the Millennials and Gen X’ers are seeking a work environment which is multicultural and globally-oriented. In fact, one study cited a 19% higher “intent to stay” ratio for employees who considered their company to be diverse and inclusive.

Conversely, people of color hold a higher turnover rate than the entire workplace population. ©

Improved ROI – Through cost savings from improved employee retention, creative problemsolving (which many times results in a more economical solution!), increased productivity and a more positive morale of your workforce, and more community-conscious customers who will purchase from a company which is diverse and inclusive, the ultimate result will be an improved bottom-line.

Setting corporate goals which include a workplace which is culturally rich, diverse and inclusive makes good business sense. Managing a diverse and inclusive workforce, however, is not necessarily an easy thing to accomplish. An effective CrossCultural Communications Training Program will include everyone in your organization, beginning with the top leaders through the ranks. Its’ foundation is a genuine understanding and appreciation that each person comes to the workplace with a unique and valuable perspective to contribute.

Understanding our differences and how to work cooperatively toward common goals will create a vibrant and profitable organization, aligned toward the corporate vision. Enhance your internal Cross-Communications Program with an external Culturallyrelevant Marketing message, and you are sure to be listed in the “Top Most Desirable Places to Work” in the St. Louis area.

NOTE: If you are interested in exploring whether a Cross-Cultural Communications Program is right for your organization, contact the Hispanic Chamber of Commerce office or this author for more information.

About 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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Word-of-Mouth advertising

INSPIRATION.

for Your Small Business Begins with

By AMM communications —Ed Mayuga

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hink about how you have inspired your clients and customers recently.

Perhaps they have given you an unsolicited recommendation on social media? Or better yet, a referral for a new client. Obviously, something that you said or some action that you have taken has inspired your clients or customer to become advocates for you.

and why they keep coming back to you.

If you think of Apple Inc. they have raving fans and a large user base of volunteers who are brand advocates for all things Apple, from iPads to their laptops.

In order to cultivate word-of-mouth advertising for your small business, you should think about three immediate steps you can put into action:

a natural way, this will go very far to increase your search engine optimization (SEO) which will drive potential clients to your website. Once potential clients and customers are on your website, this is an additional venue to inspire them through testimonials.

Next, put yourself in the customer’s place.

Effective marketing and advertising means putting yourself in the other person’s shoes for a moment and finding All things being equal, what separates you out what inspires them. Then craft a from your competitors is the personalized good, simple story around that idea that highlights your product or service. If you service that you provide. If you “go the craft an easy enough story for your clients extra mile” to provide customer service to tell, they will do so and create wordfor your clients, that may result in of-mouth advertising for your business. them proactively recommending your They will be your greatest marketers! company. But if you truly want wordof-mouth advertising, there is no harm A final tactic that you can use to tie the in asking your clients for a referral or customer stories and provide permanent a testimonial on social media. You can reference for your raving fans, are press also produce your own “news” by issuing releases. In addition to creating a “buzz” your own press releases, when you have in traditional media outlets, such as print, a particularly inspiring story of how your TV, radio, it more importantly stakes product or service helped a client by a claim for you on the Web. If you can bringing in more business, making them weave testimonials about your product more efficient, or saving them money! or service into your press releases in

1. Determine who are your raving fans 2. Understand the customer experience and tell a story 3. Know when to use a press release Go through your current and past clients and customers to determine who are your raving fans. Ask yourself, “Why did they become clients and eventually fans in the first place?” There is probably some common thread between the products or services that you provided to these clients

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Whatever steps you take, remember to inspire your audience to keep them coming back for more!

About Ed Mayuga: A partner at AMM Communications, Public Relations Marketing and Training of St. Louis, Missouri , is an executive trainer in the areas of PR, business development, content marketing, internal communications, marketing, reputation management, search consulting, and social media. Founded in 2008, AMM Communications provides marketing communications services to small- and mid-sized companies, who want to sell more through promoting a brand. Ed can be contacted at (314) 485-9810 or ed@ammcommunications.com.

summer 2013 HISPANIC CHAMBER OF COMMERCE

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A business owner should start planning for a sale at least four years in advance

The Business of Selling

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By Tom Lennartz, First Vice President — Investment Officer in Clayton

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If you accept an “installment” purchase, keep in mind that it is important to check the buyer’s credit history and be realistic Other value-enhancing strategies about his ability to succeed in providing include: future payments. Steingold suggests • Securing a long-term lease or leaseprotecting your interests by retaining renewal option if your business site is shares in the business, with ownership critical to your bottom line reverting to you if the buyer defaults; “A business owner should start planning • Maintaining the premises and requiring the buyer to secure the for a sale at least four years in advance,” equipment purchase with other assets; or requiring he says. Early planning can enhance the buyer to provide an acceptable • T

ightening your credit standards and your business’s market value while also guarantor or co-signer. severing ties with weaker accounts helping you determine your strategy for Timing Your Sale life after business ownership.

• Creating a list of long-term contracts or clients that underscore your market Ideally, an owner wants to sell a business Business owners can become motivated when the demand is high and a good strength to sell for many reasons—among them, price can be obtained. “The best time to approaching retirement, a lucrative buyout With these strategies complete, it’s time sell your business is in a strong economy, offer or a desire to try something new. to work with a broker to determine a when the business is on a growth curve Before entering negotiations for a buyout, realistic price for your business. To do (showing increasing profits each year) or Steingold suggests discussing the following this, you’ll use an industry formula, your when you have done everything you can to questions with your financial advisor: average earnings and the recent sale maximize its value,” says Steingold.

• What will I do with my time once I stop prices of comparable businesses.

Additionally, you should work with your working?

Choosing the Best Sale Option Financial Advisor, attorney, tax advisor How you structure the sale determines • How will I replace my paycheck? and business broker to coordinate how you’ll receive the proceeds — and the sale’s timing with your long-term • Am I interested in staying on as pay taxes on them. Some options and financial strategies. Meanwhile, as you consultant or employee after selling? considerations include: wait to sell, work with your advisor to Once you answer these questions, it’s update your business plan periodically, • A complete buyout, which may allow time to prepare your company to get the responding to changes in your marketplace, you to reinvest the proceeds or use best price, consider timing and choose tax laws and your income needs. them to start a new business venture the sale options that support your life • Accepting an “installment” buyout with Together, we can discuss goals. “Evaluate your business from the perspective of a potential buyer,” suggests scheduled payments, which can provide • Selling your business when the time is right for you income over time Steingold. “This lets you make changes to

f you’ve been thinking about selling your business, you should put a solid sales plan in place even if you don’t act on it right away. According to Fred S. Steingold, business attorney and author of The Complete Guide to Selling a Business, planning in advance is ideal.

income necessary to show two years of increased profits prior to the sale.

increase the value of your business, and if • Agreeing to a lower price, plus a necessary, consider postponing the sale to percentage of future profits, which get the best price.” splits risk between you and the buyer Maximize the Value of Your • Agreeing to consult or work through Business a transition period, which may be To potentially increase the value of your important if your business depends on business, examine how expenses balance service relationships against revenue. Reducing costs is imperative, even if it means lowering your • Selling an interest in the business, which lets you defer capital gains taxes salary and closing expense accounts.

Then determine how to generate the

• Investing proceeds • Funding a new business venture • Developing new assets to meet estate planning goals Wells Fargo Advisors does not provide tax or legal advice. Please consult with your tax advisor before taking any action that may have tax consequences or an attorney when dealing with issues related to your estate.

This article was written by Wells Fargo Advisors and provided courtesy of Tom Lennartz, First Vice President — Investment Officer in Clayton at (314) 726-5050.

Investments in securities and insurance products are: NOT FDIC-INSURED/NOT BANK-GUARANTEED/MAY LOSE VALUE Wells Fargo Advisors, LLC, Member SIPC, is a registered broker-dealer and a separate non-bank affiliate of Wells Fargo & Company. ©2013 Wells Fargo Advisors, LLC. All rights reserved.

13

closing

the Latino Leadership Gap

By Cileia Miranda-Yuen

A

ccording to Pew Hispanic Center national survey, Latinos living in the United States do not have a national leader. 64% of the respondents said they did not know who would be the most important Latino leader in the country today and an additional 10% said “no one.”

over time, but a persistent educational attainment gap remains between Hispanics and non-Hispanic whites.”

Three main reasons that contribute to this situation are: lack of parent involvement and support, poor English skills, and family economic situation.

So, what is leadership?

Having a degree is like having the ticket to enter into the high skilled professional game; however leadership skills are the differential nugget embodied by those who set the games’ rules.

3. Affiliative leader: It is most useful in healing rifts in a team, motivating teams during stressful times, or building connections. Empathy is a key competency as is developing relationships.

Daniel Goleman mentions in his book What makes a leader? “Most effective leaders are alike in one crucial way. They all have high degree of what has come to be known as emotional intelligence (EI.)”

4. Democratic leader: Its positive effect is strongest when consensus is needed. Key competencies are listening and collaboration.

One of my favorite definitions is given

by Dwight D. Eisenhower who says “Leadership is the art of getting someone else to do something you want done because he wants to do it.” In my observation I notice that leadership and personal influence go hand and hand.

Though Latinos may not identify today a person that represents their vision of a national Latino leader, there is no doubt that one of the most important leaders in America was Cesar Chavez. A historical icon, Chavez was a Mexican-American farm worker, labor leader and civil rights activist. In her essay, Maria D. Ortiz identifies Chavez as a servant leader and a champion of human rights.

Latinos are now more and more taking their place as political and business leaders in America, but their number does not reflect the size of the Latino population both on national and regional levels.

It is common sense that educational attainment is a paramount to social and economic ascension and that Latinos are lagging behind in this measure.

In his report “The Changing Pathways of Hispanic Youths into Adulthood” Richard Fry says that “Latino schooling in the United States has long been characterized by high dropout rates and low college completion rates (Kewal Ramani, Gilbertson, Fox, and Provasnik, 2007). Both problems have moderated

Emotional intelligence is about being intelligent about emotions. That includes having a keen and accurate awareness of one’s own emotions and of the emotions of others.

There are six leadership styles regarding Emotional Intelligence and each life or job situation may require a different set of leadership competencies, therefore all these six styles are relevant in specific time, department or function but not necessarily effective in all circumstances. So, in order to be successful one must know what is suitable for their skill set and capabilities and what is not when pursuing a career or committing to a project.

1. Visionary leader: This style is most successful when change demands a new vision or a clear direction. Inspirational leadership, transparency, and empathy are the key competencies for this leadership style. Martin Luther King, Jr. expresses this style eloquently in his speech “I have a dream.”

14

summer 2013 HISPANIC CHAMBER OF COMMERCE

2. Coaching leader: This style is most useful in helping employees improve performance by building long term capabilities. The key competencies are developing others, emotional awareness, and empathy.

5. Pacesetting leader: The style is appropriate for getting high quality results from a motivated and competent team. Drive and initiative are key competencies. But if this leader lacks empathy, as they often do, it can backfire, and the result can be a pain for the organization, so it is best applied in small doses.

6. Commanding leader: This leader can soothe fear by giving clear direction in an emergency. But without a crisis the style is not effective except with problem employees. Influence, achievement and initiative are key competencies.

Regardless of the leader’s style, authenticity is one of the essential keys to building trust and rapport, which helps with team building, customer relations, partnerships and even investors. The three most essential emotional components that define authentic leaders are self awareness, integrity and courage.

According to Pew Hispanic Center National Survey,

Latinos living in the United States

do not have a national leader. 64% of the respondents said they did not know who would be the most important Latino leader in the country today and an additional 10% said no one.

Besides getting their degrees, we must encourage Latinos of all ages to There are a number of psychometric participate in internships, professional tests to assess people’s emotional development events, business intelligence quotient (EQ) and they are competitions, meaningful networking used by most of the organizations as part functions, conferences and national of their hiring process to define if the events. They need to understand the big candidate will succeed in their corporate picture of the community’s strengths environment. and opportunities, who the main players We have seen that despite of the are and in which direction strategic economic and unemployment crisis, initiatives are going. It is about time to corporations are fighting for the best have Latino leaders better prepared talents and there are uncountable so they can get into the wagon of the job openings that are not being filled “movers and shakers” and with their due to lack of highly skilled technical talents make the impact that our overall qualifications but also because most region needs and expects. candidates do not have the profile that The HCC STL Foundation’s Latino matches the company’s culture and Leadership Institute (LLI), certified needs for those specific positions. program aims to empower young Latino Candidates with high EQ tend to win professionals to help to forge the future this battle. The good news is that of our community, of our nation. When emotional intelligence can be enhanced putting the LLI curriculum together we by developing competencies associated had in mind some key competencies that with the different styles. are at the core of effective leadership.

The St. Louis region is in a desperate These essential leadership competencies need to boost its economic development are consistent among organizations and is implementing a series of and they are presented and explored initiatives to address this need. The throughout the nine monthly sessions of talent and entrepreneurial spirit of the program. Coursework is focused on Latino business leaders may play an developing the participants’ talent with important role in this shift. a tailored curriculum focusing on the unique needs of Latino professionals and As I mentioned before, education is tapping into their full potential. crucial, but not enough. In all sectors So, what is your Emotional Quotient?

there is a great economic need to create and nurture Latino leaders. It’s necessary to empower and educate Latinos on how to be better leaders.

The Latino Leadership Institute adds value to the workplace and to our community and is helping to secure seats at the table of success for our

“

“

”

Leadership is the art of getting someone else to do something you want done because he wants to do it.

”

— by Dwight D. Eisenhower

Latino leaders. The third LLI class starts in October 2013 and we anticipate a number of young Latinos who will be prepared to make their mark and help to reshape our region into economic and social vitality. The LLI program has been recognized and awarded and the addition of an advanced LLI program seeking to raise the bar by teaching the participants to establish higher levels of excellence as a habit is under discussion. These are examples of successful initiatives helping to close the Latino leadership gap in the St. Louis region with potential national impact.

Ciléia Miranda-Yuen. Ciléia is a leadership coach, consultant and presenter. She is specialist in leadership development, emotional intelligence, personal branding, multicultural diversity and inclusion. She is the founder of the Latino Legacy Project and Belas Artes Gallery and Multicultural Center.

About Ciléia Miranda-Yuen: Cileia focuses on developing leadership skills among young Latinos and helping organizations to build strong and authentic relationships with their Latino employees through consulting, training and speaking engagements. Cileia’s expertise was key to the development of the Latino Leadership Institute curriculum. To learn more about Cileia and her initiatives visit www.belas-artes.net.

Contact 314-441-2787 or email cmy@belas-artes.net.

15

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PLATINUM Anheuser-Busch, Inc. Centene Corporation

DIAMOND Regional Business Council

SILVER

BRONZE FRIEND

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