The 19th Annual Latina Style Business Series conference held on 10/7/2017 at the Chicago Marriott.
The Latina Style Business Series held its 19th annual conference recently at the Chicago Marriott. Here are seven business tips, culled from the slate of powerful speakers.
Speakers and sponsors flank Robert E. Bard, President & CEO of Latina Style Inc.
1. Get your financial records in order.
Speakers Janice Lopez, Yolanda Ruiz, Ana Marie Inmon, Lorena Hernandez and Carole Harris.
“You can’t afford not to have an accountant,” says Yolanda Ruiz of the Internal Revenue Service. “Hire an accountant and a lawyer.”
2. Get Certified.
Latina Style president Robert E. Bard, US Treasurer Jovita Carranza, Tera Vazquez, president and CEO of Guy Brown, a Nissan supplier, and Daniel Boren, Nissan Supplier Diversity Manager, at the Latina Style Business Series conference in Chicago.
Certification opens the door for you to bid on government projects, says Janice Lopez, Managing Director Entrepreneurial Services, Director Women’s Business Center. Learn more about certification here.
3. Once you get a seat at the table, work hard to stay there.
Tera Vazquez, President and CEO of Guy Brown, a Nissan supplier, says the City of Los Angeles was her very first customer. She explains how she landed the contract:
“Being woman-owned helped, because the mayor of Los Angeles at that time was very supportive of diversity and women-owned businesses, so that gave me the opportunity to come to the table,” Vazquez recalls. “But to stay at the table I needed to prove that I can scale up--when the volume goes up--to the qualities there and that I have a process in place to make sure that whatever I manufacture is the right product. And third, I take away your worries because if I damage your printer, I’ll get a new one.”
Panelists Alfredo Morales, Delia Gutierrez McLaughlin and Salina Rivera.
4. Convey your human side on social media.
It’s not necessary to separate your personal and business social media profiles, advises Salina Rivera, CEO of MIYAN Media. “People buy from people,” Rivera says. Your social media presence should convey that you’re a human. Also, “Your LinkedIn profile is not a carbon copy of your resume,” Rivera, adds. “It’s okay to hire someone to help you improve your LinkedIn bio.”
5. Form a creative partnership—with the big dogs.
“Just because you’re a small business doesn’t mean you can’t partner with the big dogs,” says Alfredo Morales of AT&T. “I partnered with Chipotle. I said, ‘If you guys can partner with me by giving me gift cards or any kind of coupons, it’s free advertising for you guys.’ The AT&T manager gives Chipotle coupons to his customers and that gesture has increased foot traffic in his store—and Chipotle, he says.
6. Protect your assets—part 1.
Latina Style Business Series attendees.
There are financial products available to help you protect your assets, just in case the recession comes back, says Olga Camargo, Managing Partner, TOROSO Investments. “In 2008, their businesses went under, when the company went under they were left with nothing, and a lot of the biz owners make the argument that the biz is their retirement. But there are tools out there, such as the 401k, that they could have set up and paid themselves first, and with a federally covered program if your business goes under, no one can touch that.”
7. Protect your assets—part 2.
Karyn Seibert Roeling, CPCU, CIC, President, Seibert Insurance Agency.
Monitor your credit closely, and hire a team to keep your digital assets secure. “Your general liability policy does not cover cyberattacks,” says Karyn Seibert Roeling, CPCU, CIC, President, Seibert Insurance Agency. And one lost laptop can cost $49,000+ in damages and expenses due to a data breach.
Finally, “disruption produces construction,” quips Tera Vazquez. “I launched my business a year after I divorced. I started at a very difficult time in my life,” she says. “I had a daughter and 6 dogs at the time, but I also knew I would make it.”
And so can you.
Disclaimer: I work with the Allen Lewis Agency, and one of their clients is Nissan. I was not compensated for this article by either party, and neither party contributed to this post. It’s just a blog, folks!