vision magazine #11 - july-aug-sep 2012

Hispanic Chamber of Commerce of Metro Orlando Visión | 1

2 | Visión Hispanic Chamber of Commerce of Metro Orlando©Disney

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Hispanic Chamber of Commerce of Metro Orlando Visión | 3 VISION

July-Aug-Sep 2012Issue #11

A Word From The President

By Ramon Ojeda

Ian’s Social Media Box It’s not about selling, it’s a conversation

By Ian Suarez

Competitive IntelligenceHow to focus on the external business environment

By Rafael J. Irastorza

The Costumer ExperienceTips on how to enhance it

By Millo Aldea

Mission PossibleAs seen through the eyes of Lt. Col. Wilson Ariza

By George Fournier

CrowdfundingCompany fundraising makes its debut.

By Sharon M. Davison and David Feldman

Central Florida Hispanic VoterHow our vote will affect this year’s elections

By Jackie Colon

The Main Street GardenerPlanting the seeds for yournew business

by Jerry Ross

From Work To PlayThe St. Augustine Experience

by Lara Ramirez

Hispanic Market Infographic

By Nelson Camargo

P.6

P.19P.5

P.14

P.7

P.11

P.23

P.26

P.30

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4 | Visión Hispanic Chamber of Commerce of Metro OrlandoVISIONMaritza Martínez

Chair University of Central Florida

José CerdaVice-Chair

State Farm Insurance

Giorgina Pinedo-RolónVice-Chair Elect

Gio Communications, Inc.

Antonio L. CaraviaEx-Officio

Exterior Walls, Inc.

Orlando AlancastroDirector

OUC: The Reliable One

Lucas BoyceDirector

Orlando Magic

Chad BrandtHBIF Representative

The Law Office of Chad M. Brandt

Carlos CastroDirector

Walt Disney World Co.

José G. CostaDirector

Nodarse, A Terracon Company

Diana BolivarEditor in Chief

Iancarlo SuárezCreative & Art Director

Robert NewlandNewland Associates Group, Inc

Tony LagosRollins College

Angel Aviles Conrad Santiago, CFP, MSFS/Ameriprise Financial Services, Inc.

Giorgina Pinedo-RolonGio Communications Inc.

Rosalina StoberHispanic Business Initiative Fund

Jorge FrigulsEntravision Communications

Pam LedfordSeminole State College of Florida

George FournierWriter

Millo Aldeamillote.com

Jonathan AponteCover Photo/Photographer

Rafael GerenaInstruxo

Nelson CamargoBaüza & Associates

Joshua JohnsonCourseMob

Lara RamirezEditor Assistant

Ramón OjedaPresident

Diana BolivarVice President

Marilen MarnettEvents & Operations Manager

Christine PeñaMarketing & Sales Coordinator

Iancarlo SuárezGraphic Design &

Social Media Coordinator

Tiffany MadridBusiness Development Specialist

Luisa GarciaAdministrative Assistant

Yuitxa Ramírez VeintidósOffice Coordinator

editorial teamHCCMO staff

www.hispanicchamber.net

HCCMOboard members

executive board

board of directors

Fashion Square Mall 3201 E. Colonial Dr. Suite A-20 Orlando, FL 32803 407.428.5870

Albert HurtadoTreasurerAlbert Hurtado, CPA, PLLC

Janet E. MartinezLegal AdvisorJanet E. Martinez, P.A.

Tanya EasterlingSecretaryFlorida BlueCentral Region

Leticia M. DiazDirector Barry University School of Law

Evelyn MartínezDirectorOsceola Heritage Park

David J. MaxonDirector Progress Energy

Karla MuñizDirectorFlorida Hospital

David RuízDirectorUPS

Irma E. StenmanEDC Representative Metro Orlando EDC

Scott SkidelskyDirectorTurner Construction


F o u n d i n g trustees trustees

trustees

Albert HurtadoTreasurerAlbert Hurtado, CPA, PLLC

Janet E. MartinezLegal AdvisorJanet E. Martinez, P.A.

Tanya EasterlingSecretaryFlorida BlueCentral Region

Leticia M. DiazDirector Barry University School of Law

Evelyn MartínezDirectorOsceola Heritage Park

David J. MaxonDirector Progress Energy

Karla MuñizDirectorFlorida Hospital

David RuízDirectorUPS

Irma E. StenmanEDC Representative Metro Orlando EDC

Scott SkidelskyDirectorTurner Construction

The 2012 election year is upon us! Let’s all make sure we’re registered and ready to make a difference. Based on the U.S. Census, Hispanics represent nearly 27% of Central Florida’s population, making us a strong influence in political decisions. Our vote is not only valuable nationally, but more importantly, locally. As the election approaches

be sure to exercise your right to vote.

“Nobody will ever deprive the American people of the right to vote except the American people themselves and the only way they could do this is by not voting.” -- Franklin D. Roosevelt

Every day, we make decisions that affect our lives and those of others; one of those decisions is voting. Others include networking with the correct business professionals and target market to help expand your business. Throughout

the year, the Hispanic Chamber of Commerce of Metro Orlando brings you quality events to help you connect with those professionals and the Hispanic market.

Visión Magazine is a tool we created to provide you with guidance and information on current topics that will help your business. As you read through this issue, you’ll find articles on enhancing customer service, competitive intelligence, crowd funding, Hispanic market in the election year, and social media. Our cover article features Lieutenant Colonel Wilson Ariza discussing medical training simulations that will benefit hospitals.

We strive to continue providing leadership and business opportunities to the Hispanic community through the programs and events we provide at the HCCMO. We’re working together with our members, sponsors, trustees and board members to help this community grow economically.

We thank you for supporting our mission and vision to build a strong community through the decisions you make every day. You are truly making a difference and, because we’re all a part of the Hispanic Chamber, we’re making a difference together as one.

A Word From The President

Ramón OjedaPresidentHispanic Chamber of Commerce of Metro [email protected]

6 | Visión Hispanic Chamber of Commerce of Metro Orlando

Jose A Ortiz Jr - Had a great time this weekend at the Expo. I want to thank Ramon, Diana and the rest of the chamber and volunteers for throwing a great event. Can’t wait until next year!!!!

El Orlando Magic @El_OrlandoMagic Junto a nuestros amigos del #HispanicChamberOfCommerceOfMetroOrlando en #HBCExpo, la cual es patrocinada por el #OrlandoMagic. #latism

Julio Aviles Jr. Another great event by HCCMO and Vascular Vein Centers

Jason Lietz - The expo is amazing. Wonderful job. Looking forward to another great day on Sunday helping people connect with re-employment service and programs. Booth 1009 - Workforce Central Florida.

Hanna Schwartz @HannaFaye93 I’m learning so much from this social media panel! I’m definitely going to start using Twitter more after this :D #hbcexpo

www.facebook.com/hccmo

www.twitter.com/hccmo

www.youtube.com/hccmo

elcome to Ian’s Social Media Box. Your membership is free, and I invite you to visit whenever you’re in the neighborhood. Mi casa es su casa.

Together, we’ll figure out what social media is really all about. We’ll look beyond the hype and find out what it can do for us, our businesses, and our relationships with friends and colleagues.

By now, I’m pretty sure most of you have dabbled in social media. Maybe in the form of a Facebook account, or a Twitter you opened just to say you did, or maybe even a little blogging from your soapbox. In this column, I won’t pretend to have all the answers (they keep changing every day). But I will help you have a better grasp of social media’s current and future potential.

Let’s start with some good news about social media - it’s free. Even better, it can help you make money. But don’t be fooled, nothing comes without a little effort. And never think social media is the magic solution for everything. It is, however, a powerful tool for achieving well-defined goals. Making sure you don’t waste your time is why we are here - I promise.

One thing we need to remember is that social media is all about relationships (believe it or not, there is such a thing in the cybernetic world as relationships). That’s why you’ll hear terms such as “like us,” “tag us,” and “follow me” being used throughout this column.

You’ll also discover that there is nothing impersonal about social media simply because you create it on a computer - far from it. The key to every successful social media campaign is the relationship you develop with your clientele, and they with you.

As proof that we are serious about relationships, I invite you to send me your questions about how to use (or not use) social media. I’ll try to address at least one of your questions/comment (quemments?) in each column. You can also send me photos of your pets, your car, or your favorite musician (but don’t expect me to use any of them).

You can find me at: [email protected]. Hasta luego.

#HISPFACTSIt is estimated that there are over 266,000 Hispanic-owned businesses in Florida, making it the 3rd in the nation

behind California and Texas.

Ian’s Social Media

BOXW

NEW COLUMN


you or your company pride yourselves on customer satisfaction? Have you ever wondered what customer

satisfaction really is? Think about it! Satisfaction is the least acceptable delivery to your customers. Anything less than satisfactory is unacceptable.

So why do companies still brag about customer satisfaction? Saying that customers are satisfied is like saying, “Our customers think we are just ok!”

Knowing that in today’s marketplace people are looking for more than a satisfactory experience, if I am your competitor I will go to all of your satisfied customers and let them know that my product and service will leave them with a memorable experience. As a result, they will be eager to be my customers and become loyal to my brand.

Why? Because of my complete domination and differentiation from your service. Do you want satisfied customers who buy one time and never share their stories? Or do you want loyal customers who buy from you continuously and insist that their friends to do the same?

There are many reasons why Apple is the most profitable company in U.S. history. One reason is that Apple customers are the strongest sales force for the organization. In many cases, before a consumer buys a Mac, they ask a friend who has one for their opinion. Consequently, the best sales pitch ever is given by a happy and loyal customer.

Most Apple fanatics will fight for you to buy an Apple. Is it just because of the product? No, it is not. It is the customer experience, the support, ease of use, the culture, the bragging rights, the brand and so much more. It is definitely not the price!

Apple is often considered the mother of all brands. The best explanation of what a brand is was explained to me by a thirty-year-old multi-millionaire named Blake Mallen. He said: “Brand is nothing more than how people feel about you.” Wow! During 13 years of working in marketing with world-renowned companies, I had never heard a better explanation.

Are your customers your best sales force? They definitely have the potential to be! However, you might be offering something that does not get your sales force excited enough to tell your story. The story that your customers tell is all up to you! A positive story is not as interesting and contagious as a negative one.

This is why the news is full of negative stories. For each positive story, you might get one person to talk about it. For each negative one, the news quickly spreads.

Enhancing The Customer Experienceby Millo Aldea, millote.com

CUSTOMER SERVICE

DO


In order for your customers to tell your story in a positive way, you must develop a solid customer experience. A great customer experience will lead to a referral. A bad customer experience will lead to gossip. And people will always believe your customers’ stories over yours.

What is customer experience? It is the difference between sleeping on a comfortable bed in a motel and sleeping in the same exact bed on a cruise. Your experience during your night on the cruise will be the story that you share with others.

Customer experience is the difference between ordering a cheeseburger at the closest fast-food joint, or sitting down and ordering the same calorie-carrying burger at a place where it’s brought to your table, where you sit in front of a 65-inch LED screen watching your favorite sporting event along with your best friends.

What you are paying more for is the experience. It is that same experience you share with your friends when you watch a great movie and cannot stop talking about it. What kind of movie are you directing and showing your customers? Will it lead them to call their friends and urge them to watch it?

What is your “wow” factor? What do you want your customers to tell others when they ask about your product or service? Do you want them to say: “Yeah... I’m satisfied.” Or do you want them to say: “Wow! You’ve got to get yourself one of these!”

A loyal customer is not one that is just satisfied. Because a satisfied customer can and will buy from your competition if they offer a more memorable experience. Let’s suppose your product or service is a commodity, meaning you are constantly looking for that one little thing that differentiates you from your competitor. If you make it look like it’s a major difference when it really isn’t, then the only quality that really separates you from the competition is the customer experience.

In her book Fascinate, world-renowned brand expert Sally Hogshead writes that before we connect with a product and before we connect with a company, we must connect with each other. And the biggest part of your customers’ experience is set by you and your partners, employees and service. Not by your product or, much less, your price.

People who buy for the price will always switch to the cheapest brand. People who buy for value will consider the lowest price, but in the end they buy what’s best for them. My sales mentor Jeffrey Gitomer says that people who buy for price are always a pain in the behind. He uses more descriptive words, but you get the picture. What’s even funnier is that when you tell a bargain buyer that they only buy according to price, they get upset. It’s the funniest thing. Try it out!

Do you offer what is best for customers in order for your value to overcome your price? Or can they get the same thing someplace

CUSTOMER SERVICE

else? If you offer the same as others, the only thing that keeps them buying from you, is you. Ask yourself: are you a better resource than the competition? Are your customers making a better purchase when they buy from you because of the person that you are and the integrity of your company? Do you offer better support? A better relationship? Are you friendly? Is it fun to hang around you? Are you safe and reliable? If I call your office, can I speak with a person right away, or do I get upset because I will talk to a machine for the next eight minutes? These are some basic customer experience questions you must answer in order to know if you offer a memorable experience to your customers.

Most people think they’ve got it all down and don’t need anyone to tell them how to enhance their company’s experience, but here are a set of questions that will let you know if you have everything down: Do you have a welcome sign in your front door? Can you and all your employees recite the company mission? What type of employee training is offered to ensure that all employees are telling your story the correct way and that they speak to customers the way customers like to be spoken to? What kind of environment are you creating around your customers? Is it an inviting atmosphere? Does the company have a contagious culture that people want to be a part of?

Are your policies written to help your customers or just to help you? Are company policies used as an excuse to tell customers that you cannot help them? Can all of your employees handle customers? Does everyone in the company have a positive attitude?

Start there, and if the answers to those questions are not as good as you want them to be, consider hiring a professional firm to help you instead of assuming you can change what has been set in stone in your company for the past 10 years. I’ve seen passionate employees unsuccessfully try to improve 10 years of bad habits on their own, just because they want to “save money.” The result often is a dozen wasted meetings and hours in writing paperwork that never changed a thing.

Smart companies contract professionals trained to specifically improve company morale, culture, and atmosphere and to develop solid customer experiences. My best advice to you is to hire a professional experience design firm. I also recommend that everyone in the company read Customer Satisfaction is Worthless. Customer Loyalty is Priceless by Jeffrey Gitomer. Make it mandatory and you will reap the benefits of ecstatic customers.


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MISSION POSSIBLE Pulling Together for a Better World

places like Iraq, Afghanistan and Bosnia, he saw the horrors of war. In the faces of the military men and women who made personal sacrifices for peace, he saw a reason for hope. As seen through the eyes of Lieutenant Colonel Wilson Ariza,

life is more than just an uncertain mix of good and bad. It is a bright opportunity to work with others for a better world.

INby George Fournier

COVERSTORY


“I liked computers and I was happy to be in the right place at the right time.”


4:00 a.m. in the Morning

We’ll start Wilson’s story on the campus of the University of Puerto Rico following his earlier enlistment as an Army combat medic. At the university, he was a full-time student, had a full-time job, and got up at 4 a.m. to participate in ROTC. In a national competition, Wilson earned recognition as the top cadet in ROTC for Puerto Rico - an achievement that led to his commission in the Army Medical Service Corps.

During the 1990s, the Medical Service Corps had a growing interest in information technology. As Wilson puts it, “I liked computers and I was happy to be in the right place at the right time.” In Fort Sam Houston in San Antonio, Texas, he led the team that started an IT career field for officers in the Army Medical Department.

After this fast start, Wilson’s career continued to accelerate. Upon completing his Master’s degree in Health Services Administration and Information Management, he was deployed as Deputy Surgeon, Joint Guard in Bosnia. There he used his technology expertise to employ telemedicine technology in that troubled area for the first time. More Firsts

Among the lessons learned from the first Gulf War was the need for battlefield access to the medical records of soldiers. After the war, President George H.W.

Bush asked the U.S. Surgeon General to make it happen. At the time, Wilson was the Chief Information Officer at Darnall Army Community Hospital at Fort Hood in Texas. According to him, his superiors thought that he “was an IT person, had hospital administration experience, loved computers, and came from a school of medicine.” They figured Wilson was the right person to answer the President’s directive.

The history-making project was called the Medical Communications for Combat Casualty Care program. The program acquisition cost was $750 million. The cost to Wilson was two-and-a half years of deployment during Operation Iraqi Freedom and Enduring Freedom. The payback was in knowing that he and his team were saving lives and providing the highest level of medical care.

Sand on the Floor

Today, Wilson is a resident of Central Florida and has the rather lengthy title of program manager for the U.S. Army Medical Simulation Program at the Program Executive Office for Simulation, Training & Instrumentation (STRI). He is the first person to hold the title - a job that keeps him on the road three weeks out of four.

Today, medical simulation has become the safest way to learn patient treatment procedures without practicing on live patients. Trainees work on “patient simulators,” which are highly sophisticated mannequins that can blink, breathe, cough and even bleed.

Part of Wilson’s demanding job is to direct material development, acquisition, and support to the Army’s 23 worldwide Medical Simulation Training Centers (MSTC) which currently use patient simulation technology.

To date, with the help of Wilson and his team, more than 400,000 service personnel have been trained to perform medical procedures under highly realistic conditions. If a combat medic needs to learn how to apply a tourniquet on a desert battlefield, a desert environment, complete with sand, is recreated at the MSTC facility. All the while, the simulated patient on the simulated battlefield manifests very real reactions to treatment. It is a dramatic advancement in medical training that, according to a September 2009 assessment by the Defense Health Board, has saved an estimated 1000 lives in Iraq and Afghanistan. The Epicenter for Medical Simulation - Central Florida

Recently, the Veteran Health Adminis-tration began implementation of its Simulation Learning, Education and Resource Network in its more than 170 medical centers around the country. Wilson was instrumental in coordinating the agreement between the VHA and the STRI here in Orlando. He now serves as the acquisition program manager for the network, helping to make Central Florida the epicenter for military medical simulation training.

When you first meet Wilson Ariza, you see a remarkable combination of military experience, medical training, and information technology savvy. With numerous deployments to war zones, he knows the experience of being under fire. With a love for healing (his mother was a nurse) he enlisted in the U.S. Army as a combat medic. With an ability to grasp the power of computers, he was instrumental in applying modern technology to the practice of medicine.

On a deeper level, you also discover a humble man who is deeply committed to a vitally important mission. He wants to save lives.


The Network will be headquartered at the VHA’s newest medical center located in East Orlando in the Medical City complex at Lake Nona. Part of the new center is the Medical Simulation Center of Excellence that will serve as the baseline model for today’s most advanced medical simulation technology. As the Army’s Medical Liaison for Medical City, Wilson is again a pioneer for positive change. He notes, “Not only will people come to Orlando to go to the Disney parks, but also to learn the latest technologies in medical simulation.”

La Familia Grande

After 24 years in service to his country, Lt. Col. Ariza has a special affection for the Army, the people who mentored him, and the people with whom he worked. “We are a big family. We are in this business because we want a better world,” he says.

Wilson’s sense of family and his core values were instilled by his parents. Later, they were shaped by his military service, and by interactions with diverse cultures around the world. His values have also been strengthened by his responsibilities as a husband and father of two girls.

These experiences have helped Wilson recognize his responsibility to mentor and support others. Together with his wife, Nitza, he has started youth groups, and demonstrated to youngsters that hard work and having dreams are the foundations for success. Together, they have also helped immigrants of all nationalities with paperwork for citizenship or for starting a business. Also, as a member of the Hispanic Chamber of Commerce of Metro Orlando, Wilson has encouraged networking among fellow Hispanics, helping to generate opportunities for mutual support.

A Pioneer’s Dream

As a pioneer with a dream, Wilson still looks to the future. He is currently working on his doctorate at the University of Central Florida, combining a study of human factors and medical simulation.

It is not possible to condense a career as big as Lt. Col. Ariza’s into a few short paragraphs. So we’ll let his words speak for themselves: “I w a n t to see how we can all come together to contribute to a better nation and a better world, and to do that we all need to pull together.”

Wilson and his “familia grande” have done just that.

“ We are a big family. We are in this business because we want a better world ”


Competitive IntelligenceWhat it is.

general, top executives at organizations spend most of their time working on internal and time-consuming issues related to accounting and financial reporting, marketing, product quality, strategy and business development, IT, human resources, legal violations, among others. During the past 15 years, several top executives at Fortune 500 corporations have realized that they need a department within their organizations devoted to understand and analyze external market forces that may

represent either opportunities or threats to these organizations. The Competitive Intelligence (CI) departments at these organizations have been formed to take that role. Not only do CI analysts collect and analyze information, but also act upon that information in the form of intelligence by making recommendations aligned with corporate strategy to senior management.

The word “competitive” is often misunderstood, and many people at first believe that CI is a form of corporate or competitor espionage. Well, it’s not. CI is the interpretation of signals from the environment for an organization’s decision makers to understand and anticipate industry change. As previously mentioned, CI analysts monitor the external environment; to be more specific, they constantly monitor clients and potential clients, suppliers and competitors’ actions or strategic initiatives. In addition, they monitor the legal and regulatory environment, emerging technologies, and other industry-related issues or events. Finally, they keep current with the performance of both the domestic and global economies.

BUSINESS

by: Rafael J. Irastorza, CPA Competitive Intelligence Analyst Power Grid Engineering, LLC

IN


Did they have a CI department in place? Probably not.

Despite the fact that many large and global corporations collect, analyze and distribute information in an informal and inconsistent manner, they fail to anticipate industry change or predict future events. One clear example is how U.S. automobile manufacturers (e.g. Ford and General Motors) failed to adapt to what customers started to demand significantly in the 90’s, which was the need of high-quality vehicles that were reliable and fuel efficient. In contrast, foreign automakers such as Toyota and Nissan focused on introducing what customers demanded and as a result they gained market share from U.S. competitors. A more recent example is Blockbuster’s failure to early recognize the adverse impact that Netflix’s business model could have on the company’s operations. These companies were clearly reactive, whereas Competitive Intelligence is about being proactive. It is about predicting future events and acting upon that in the form of intelligence. After perfoming comprehensive analyses and making predictions, CI analysts have to make sure they inform top management about what lies ahead and how they should respond to future and predicted events.

Does CI always deliver what it promises?

Sometimes. There are several factors that determine whether the CI department will add value to an organization. First, CI analysts have to provide management with key intelligence and not just information. Intelligence and information are not the same. The former intends to inform the user of intelligence (i.e. management) about future events that might occur and how it should respond to those particular events. The latter just intends to keep management informed about previous or current events. This is why intelligence is future-oriented while information is not. Mere information leads management to ask, “So what?” While intelligence may lead management to say, “We considered and included your insights in our five year business plan. Thank you for identifying external market forces and events that could have an adverse and/or positive impact in our operations during the next years.” The second factor is placing the CI department within a larger department in the organization that values and uses the analyses and recommendations made by CI analysts. An example of a larger department is Strategy & Business Development.Sources of information.

As previously stated, information is used to create intelligence. Useful and relevant information can be found by performing primary and secondary research, which are different research methodologies used by CI analysts. Primary research is the collection of information using

an interactive approach with the source of information (e.g. people). For instance, CI analysts use surveys and interviews to collect directly from other individuals the key information that analysts want to acquire. Events that represent an excellent opportunity for an analyst to conduct such interviews are conferences and tradeshows. It is important that analysts follow their companies’ code of ethics and collect the information in an ethical manner. On the other hand, secondary research is the collection of information from published sources. These sources include, but are not limited to, private databases (e.g. LexisNexis, Hoovers, IBISWorld and S&P NetAdvantage), public databases (e.g. Bureau of Labor Statistics and U.S. Bureau of Economic Analysis), industry magazines, and national as well as local newspapers.

Should a small business have a CI department?

Small businesses that are growing very rapidly, expanding to new markets, identifying new competitors, complying with new regulations and launching new services definitely need a CI analyst supporting strategy and business development activities of the organization. It is crucial, even for small businesses, to understand changes in the business environment and how they affect strategic planning. The Competitive Intelligence department at Power Grid Engineering (PGE), which is a small business with more than 60 employees, is led by one person that has been able to identify new business opportunities for the firm and contributed significantly to PGE’s strategic plans for the upcoming five years. CI at PGE performs both primary and secondary research in order to monitor actions or activities of clients and potential clients, suppliers and competitors. In addition, CI keeps current with upcoming laws and regulations that might have a positive or adverse impact on the firm.

I believe that early implementation of a CI program in a small business that is growing rapidly or plans to become a large enterprise in the future is one of the best investments that an organization can make. Since PGE is a small business and has much less employees than Fortune 500 companies, it has been easier for me to integrate CI into PGE’s culture. As a result, PGE employees are starting to understand the value that CI can bring to the company and some of them already provide me with key information useful to create intelligence. If you believe that your organization should have a formal process of collecting and analyzing information, and distributing intelligence to management, consider explaining to management the benefits that CI can bring to your organization. If you are part of the management team, do you think that Competitive Intelligence will add value to your company? I think it will.


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Company Fundraising Through Crowdfunding Makes its Debut By Sharon M. Davison and David Feldman

itle III of the recently enacted Jumpstart Our Business Startups (JOBS) Act allows businesses to raise up to $1,000,000 through “crowdfunding.” Crowdfunding is the process of raising small amounts of money for an enterprise from a large group of people (the “crowd”). It is assumed that the crowd will insist upon and demand the creation of the information that is needed to make intelligent investments thus reducing the risk of the investment. Crowdfunding is very popular in Europe for the financing of startup businesses. Until now crowdfunding has been

mostly used in the United States to seek donations for charities or artistic endeavors looking for angels to support them without receiving any equity, since crowdfunding by selling securities was essentially unlawful until now. Crowdfunding typically takes place in the crowd over an Internet site. Some popular sites are Kickstarter and IndieGoGo.

With the passage of the JOBS Act, Congress has opened up the use of crowdfunding for the sale of securities in companies. The SEC has until the end of 2012 to draft rules for the implementation of the new exemption. Once their rules are completed and a self-regulatory organization is in place issuers will be able to raise funds through either a registered broker dealer or an SEC registered funding portal. It should be noted that until these rules are finalized crowdfunding for investments is not legal.

Crowdfunding advocates see a new world of Internet-based funding from the general population for early stage companies. Critics believe crowdfunding could lead to fraudulent offerings that are not reviewed by the SEC or state regulators.

There are three parties in a crowdfunding transaction: issuer, investor and intermediary. Each of these parties has standards with which they must comply. For the most part the intermediary is responsible for the compliance of all three parties with the statute. Here are some of the obligations of each party in the statute. It should be noted that more details are expected once the SEC proposes rules to implement the law.

T

BUSINESS


IssuersThe issuer may raise up to $1,000,000 during any 12-month period using crowdfunding. In order to be eligible for the transaction the issuer must do the following:

1. File the following information with the SEC and the intermediary a. Name, legal status, address and website address b. Names of directors and officers and each person holding more than 20 percent of the shares c. A description of the business and a business plan d. Description of the financial condition (determined by the aggregate amount raised in a 12 month period): i. If $100,000 or less the tax returns of the issuer and a financial statement certified by the principal ii. If more than $100,000 but no more than $500,000 financial statements reviewed by an independent public accountant; and iii. If more than $500,000 audited financial statements e. A description of the purpose and use of the proceeds from the offering f. The target amount and the deadline for reaching the target amount with regular updates on the progress of the offering g. The price to the public and the method used to determine the price h. A description of the ownership and capital structure of the issuer2. The issuer may only advertise the offering through an intermediary3. The issuer may not compensate someone to promote the offering other than under rules to be written by the SEC4. The issuer must make annual reports to the SEC and provide to investors reports about the operation and financial condition of the issuer

IntermediariesThe intermediaries must either be registered broker-dealers or a new entity called a funding portal, which will all be required to register with the SEC and a self-regulatory organization such as the Financial Industry Regulatory Association (FINRA) which regulates broker-dealers, or a new organization to be created. In addition to acting as the placement agent for the securities that are being issued, the intermediary is responsible for the protection of the investor.

The intermediary must provide all disclosures required by the statute or rules of the SEC to the investor. These disclosures relate to the risks involved in investing in this manner. They are also charged with providing investor education and ensuring that the investors have read and understood the disclosures. Finally, the intermediary must make sure that the investor has not invested more than the amount allowed in a 12-month period, as described below.

It is most likely that the intermediary, or possibly some other third party, will be the mechanism for the issuers reporting with the SEC, and this will require that each intermediary maintain a compliance program to ensure that the issuer follows all of its disclosure requirements.

BUSINESS


InvestorsInvestors are limited in the amount that they may place into crowdfunded companies in any 12-month period based upon their income and net worth. Those limits are: i. The greater of $2,000 or 5 percent of the annual income or net worth of the investor if their income is less than $100,000; or ii. 10 percent of the annual income or net worth of the investor, not to exceed $100,000 if the income is $100,000 or more.

These amounts are in the aggregate, therefore, the intermediary is charged with making certain that an investor does not invest more than the maximum across all of the companies invested in during the year in crowdfunding transactions.

There is nothing in the Act that describes the type of securities that the investor will receive. Will issuers be able to create a different class of securities just for crowdfunding? This is not yet clear.

Investors may not sell their shares within the one year period following the initial purchase. There are exceptions. They may sell to the issuer, an accredited investor, as part of a offering registered with the SEC or to a member of the family of the investor or in a death or divorce.

There is not a definition of accredited investor in the crowdfunding title of the JOBS Act. However, there are definitions in other parts of the securities laws. The SEC will have to clarify who is an accredited investor for purposes of crowdfunding. Another issue that will have to be addressed is how an investor will be able to find accredited investors to sell their securities to. The sale of the security will need to fall under an exemption from SEC registration.

ConclusionCrowdfunding is viewed as an alternative funding method for either businesses that are too new to the market for traditional sources of capital or for issuers that are traditionally underserved. It also provides the opportunity for investors who are not accredited investors or higher to invest in startup businesses at a level that meets their financial means.

The SEC has opened a pre-rule comment period. This is an opportunity for anyone who wants to help shape this new industry to weigh in.


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he 2010 Census data shows Hispanics are the second largest population in the United States. There are more than 50 million in the country today.

Increased political participation has long served as the best mechanism to secure a thriving democracy in both the short and long term. Successfully mobilizing this sector of the electorate will be crucial to ensuring the future vitality of our nation’s democracy.

With the knowledge and experience amassed over its 30-year history, the National Association of Latino Elected and Appointed Officials (NALEO) Educational Fund is recognized nationwide as a leader in the areas of naturalization promotion and assistance and non-partisan voter engagement.

NALEO promoted the “Ya Es Hora , Hagase Contar“ campaign here in Florida to ensure that every Hispanic would be counted in the 2010 Census. The total population in the state of Florida grew from 2.7 million to 4.2 million, with Hispanics contributing to 55% of that growth.

The growth in the Hispanic population in Florida demonstrates the integral part of everyday life in business, employment and education. We have over 265,000 Hispanics that are registered to vote along the I-4 corridor in just the six main counties in Central Florida, including, Orange, Seminole, Polk, Brevard, Volusia and Osceola.

Across the country, efforts to prepare the Hispanic community to participate in this year’s election are already underway. Expectations are high, especially in light of the fact that the Latino electorate made history in 2008. More than 9.7 million Latino voters cast ballots in the presidential election that year, making it the highest turn out of the Latino electorate to date.

The Hispanic electorate is expected to exceed those numbers in 2012. According to projections from our organization, the NALEO Educational Fund, at least 12.2 million Latino voters will head to the polls this year.

Though the bar is set high, we know the potential impact of the Hispanic electorate on the country’s political process this year is even greater. More than 21 million Latinos will be eligible to cast ballots on November 6. While this number gives us reason to celebrate, it also means that we need to make sure that 9 million Hispanics do not stay home on election day.

With the political participation of the Hispanic community playing an increasingly decisive role in the health and vibrancy of our democracy, we cannot afford to allow the Latino electorate to settle for just making history this election year. We need to work to mobilize eligible voters and to establish a pattern of Latino political participation that lasts long after the votes are tallied this November.

As part of this goal, our organization is ramping up efforts to tackle a new frontier

in our civic engagement work in 2012: engaging “The Great Unengaged.” This component of our work will focus on encouraging Latino citizen adults who have not yet become full participants in the political process, with an emphasis on both those who do not vote frequently, and eligible un-registered voters. By doing so, we hope to make a significant impact on the political participation rates of this growing group of Americans.

NALEO Educational Fund will also be implementing an unprecedented voter engagement program to provide hundreds of thousands of voters with vital information, in both English and Spanish, on all aspects of the electoral process from registering to vote and voter identification requirements, to early voting and finding a polling place on election day. Our award-winning non-partisan civic participation campaign “Ya Es Hora ¡Ve y Vota!” and its partners will also be in full operation to help motivate voters to the head to the polls in 2012 and subsequent elections.

The campaign’s national toll-free hotline, 1-888-VE-Y-VOTA(1-888-839-8682)has assisted hundreds of thousands of Hispanic voters, especially during important elections. Callers can speak with a live, trained, bilingual operator to ask any election-related question, from location of polling places , to documenting voter intimidation and election administration irregularities. Internet users can also access the “Ya Es Hora ¡Ve y Vota! website (www.yaeshora.info), which provides important information for the public, an easy-to-use voter registration tool, and valuable resources to help motivate your community to take part in the electoral process.

NALEO Educational Fund will continue their efforts to make sure that the 685,000 eligible legal residents in the state of Florida to become United States citizens and be engaged in the political process.

As the Hispanic population in Florida continues to grow, we must work to ensure that the community is fairly and fully represented in our American political process.

We may never agree on the nation’s laws or their benefits, but a healthy and vibrant democracy is something we as Americans can all support and work toward in 2012 and beyond.

Central Florida Hispanic Voterby Jackie Colon, Florida Director, NALEO Educational Fund

POLITICS

T


ain Street Businesses make up most of the small businesses in America, in Florida, and in Central Florida too! I define a “main street business” as

any business with fewer than 10 employees and sales of less than $1 million dollars. Those businesses make up over 90% of the businesses in Florida!

“Main Street Gardening” is my term for helping to plant the seeds of new businesses, nurturing them as they grow, and hopefully, enjoying the economic harvest as they develop, hire more people, and build stronger communities.

The National Entrepreneur Center (NEC) is made up of 11 independent organizations, including the Hispanic Chamber of Commerce of Metro Orlando and The Hispanic Business Initiative Fund. While each organization at the NEC is very different in what they do, and the clients they serve, they all share a single mission: help small businesses grow!

The opportunities to start and grow a business in Central Florida are amazing, and the access to small business assistance is better than anywhere else in the country! Entrepreneur Magazine named Central Florida as one of the top 10 places in the country to start and grow a small business, and specifically mentioned the impact of The National Entrepreneur Center. In this article each issue, I will address some aspect of growing a small business in Central Florida and I am anxious to hear from you what you would like me to write about! If you have suggestions, or would like to see me focus on a particular small business topic, please send me your suggestions or comments at [email protected] and I will see if I can address those topics for you.

Together, we can grow the economic garden of main street business which will build a stronger community and a stronger economy in Central Florida.

Until Next Time…

e’ve been hearing a lot about the elections through different media, but what better way to

hear from our local candidates than face to face at HCCMO’s Political Hob Nob. Being that 26% of Central Florida’s population is Hispanic, our vote is crucial to making a difference. This year’s 2012 Political Hob Nob is on July 24, 2012 from 5:30pm to 8:00pm. The Political Hob Nob is a great opportunity to interact with political candidates and learn about their platforms, values and qualifications. It is so important to make sure that our community is aware and educated on the different candidates running for office when going to the poles to vote. If you haven’t registered to vote, then now is the time!

After our Political Hob Nob, Mayor Theresa Jacobs will lead our Mission Trip to Bogota, Colombia with the purpose of expanding networking and establishing trade opportunities between businesses in Central Florida and Colombia. We facilitate mission trips in order to create partnerships within our community and International markets. If we can bring business here from Colombia and vice versa then we are not only fulfilling our mission of stimulating the economic development of the Hispanic community, we are also creating a bridge that will continue to grow International business relations.

Last, but certainly not least, we celebrate Hispanic Heritage month with our anticipated annual Latin Food and Wine Festival. The event kicks off with Savor the Night, on October 12th. This event is an upscale, cocktail attire, networking event, where you will enjoy fine Latin cuisine, all while dancing the night away to Latin music. Savor the Night is a great opportunity to network with business professionals in Central Florida. Following Savor the Night is the Grand Tasting, this event attracts more than 15,000 of our community to indulge in a day of Latin culture. We will host this event once again at Cranes Roost Park in Uptown Altamonte on October 13, 2012. During the Grand Tasting enjoy a variety of Latin local food and beverages, sold in small portions throughout the venue. In addition to great food and beverages, this is a perfect opportunity to break into your Latin dancing shoes. There will be a variety of local Latin bands making sure that the local sounds are flowing throughout the venue. If you really want to get a taste of the Latin culture, this event will provide you with an upscale experience of how Latinos celebrate Hispanic Heritage month.

We look forward to networking with you and celebrating the Hispanic culture at our upcoming exciting events.

The Main Street Gardenerby Jerry Ross, National Entrepreneur Center

UPDATE

NEW COLUMN

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HCCMO’s Business Connection HCCMO’s Business Connection BAH: Polytechnic University of PR

Cafe with the President BAH: Polytechnic University of PR Kidsville IV Ribbon Cutting

BAH: Vascular Vein Centers BAH: Vascular Vein Centers BAH: Vascular Vein Centers

Hispanic Business & Consumer Expo Community Job Fair Hispanic Business Conference

May - June 2012GALLERY


Hispanic Business Conference Hispanic Business Conference Hispanic Business Conference

Hispanic Business Conference Hispanic Business & Consumer Expo Hispanic Business & Consumer Expo

Hispanic Business & Consumer Expo Dialogo con el Dr Buenahora Hispanic Business & Consumer Expo

Hispanic Business & Consumer Expo B3 SeriesSuccessful Trade Show Marketing

Hispanic Business & Consumer Expo

Expo, Business After Hours, Seminars & more...


2500 South Semoran Blvd. • Orlando, FL. 32822

www.PioPioRestaurantFL.net

Pio Pio Latin Cuisine on Semoran Blvd has perfected its culi-

nary skills since 1994, when it’s first Restaurant in Queens, NY

opened for business. Specializing in Pollos a la Brasa (Rotisserie

Chicken) Pio Pio Latin Cuisine is the premier Colombian and

Peruvian Restaurant in Central Florida.

Dine-In and enjoy many of our exquisite platters. When you

visit us at Pio Pio Latin Cuisine, you will not only be delighted

by our food, you will also enjoy our home style hospitality

making your every visit one to remember.

Pio Pio Latin Cuisine OFFERS DELIVERY AND CATERING services so you can also enjoy the great tasting food from the comfort of your own home or work.

Just give us a call at: (407) 207-2262 / (321) 947-6147

ometimes work can overrun your life and leave you feeling like there’s not enough time in a day—but you don’t need a time machine to return to the past. Just plan a trip to St. Augustine, the nation’s oldest city, and

you’ll be instantly transported to a place rich with history, legend and adventure.

St. Augustine was first explored in 1513 by Spanish explorer Juan Ponce de Leon. Since then, it’s been a center for colonization, military efforts, maritime activity and, presently, tourism.

In the historic district, you’ll notice cobblestone streets lined with Spanish Colonial buildings, quaint shops and one-of-a-kind restaurants. Stop by Kilwin’s on St. George Street to try some chocolate fudge, then go shopping and take a relaxing stroll on a horse-drawn carriage. A tour of the Castillo de San Marcos is another must-do during your visit. Behind its coquina walls, you can explore the fort’s casements, see exhibits and learn about its military history. Authentic war re-enactments are shown to give you a taste of colonial dress and demonstrations of weaponry. The fort’s green is perfect for picnics, flying kites or a game of Frisbee. Afterwards, you could even follow in the footsteps of Ponce de Leon and venture to the Fountain of Youth, where you can taste the fabled spring water for yourself.

If you’re in the mood for something a little out of the ordinary, you can schedule a private tour of the St. Augustine Wild Reserve. A trained expert will guide you through the seven-acre reserve and allow you to witness exotic animals, including white tigers, lynxes and servals, in an up-close-and-personal setting. You can also make a visit to the Ripley’s Believe It Or Not! Museum, which showcases anything weird and wacky you could imagine. Their new exhibit, “Pirates: Predators of the Sea,” will give you an unusual new look at the feared bandits.

At night, you can enjoy one of the many fine restaurants St. Augustine has to offer. Colombia Restaurant, complete with an outside courtyard, indoor patio dining and beautifully designed rooms, will offer you a taste of award-winning Spanish/Colombian cuisine. The Raintree Restaurant, located in a 19th-century Victorian home, features an outdoor gazebo and koi fountain, as well as a menu that blends Mediterranean, American and Asian cuisine. The Conch House offers a casual, yet unique, dining experience complete with live entertainment, an alligator exhibit and an outside deck where you can dine beneath a Jamaican-style grass hut.

After dinner, and if you’re feeling brave, you can take a ghost tour of the city. Both walking and trolley tours are available to visit haunted homes and listen to tales of strange, supernatural occurrences. Ghost Tours of St. Augustine was voted the best guided tour of Florida by Florida Living Magazine, and has been featured on both the Discovery and Travel Channel. Regardless if you believe in ghosts or not, these nightly tours are guaranteed to be a spine-tingling good time.

Whether you’re in the mood to relax, learn, have fun or be spooked, this unique city has something to offer you. Make a trip to the First Coast and let St. Augustine transport you from work to play.

The St. Augustine Experienceby Lara Ramirez, Hispanic Chamber of Commerce of Metro Orlando

FROM WORKTO PLAY

S

Photos courtesy of Daniel Kuykendall www.danielkuykendall.com


2500 South Semoran Blvd. • Orlando, FL. 32822

www.PioPioRestaurantFL.net

Pio Pio Latin Cuisine on Semoran Blvd has perfected its culi-

nary skills since 1994, when it’s first Restaurant in Queens, NY

opened for business. Specializing in Pollos a la Brasa (Rotisserie

Chicken) Pio Pio Latin Cuisine is the premier Colombian and

Peruvian Restaurant in Central Florida.

Dine-In and enjoy many of our exquisite platters. When you

visit us at Pio Pio Latin Cuisine, you will not only be delighted

by our food, you will also enjoy our home style hospitality

making your every visit one to remember.

Pio Pio Latin Cuisine OFFERS DELIVERY AND CATERING services so you can also enjoy the great tasting food from the comfort of your own home or work.

Just give us a call at: (407) 207-2262 / (321) 947-6147

vision magazine #11 - july-aug-sep 2012

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