e-Business Watch Chamber of Commerce of the Palm Beaches
A Better Business Plan Do you have one and is it working? 11 Things the Chamber is Doing to Help Make 2011 a Great Year for YOUR Business!
January 2011
UM MBA
THERE ARE ONLY so many CORNER OFFICES.
CLAIM YOURS. UNIVERSITY OF MIAMI EXECUTIVE MBA IN PALM BEACH Florida’s #1 Executive MBA Program* • Saturday classes • Same world-class faculty who teach on our main campus • Globally focused curriculum PROGRAM BEGINS APRIL 2011 Learn more at an Information Session 6:00 p.m. Wednesday, November 17 Kravis Center for the Performing Arts Executive Boardroom 3rd Floor 701 Okeechobee Boulevard West Palm Beach FOR MORE INFORMATION AND TO RSVP bus.miami.edu/PBeach 305-284-2510 MBA@miami.edu * Financial Times Executive MBA ranking 2010
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NEVER SETTLE Business Watch
e-BUSINESS
WATCH
ON THE COVER Chamber of Commerce of the Palm Beaches 401 N. Flagler Drive West Palm Beach, FL 33401 Phone: (561) 833-3711 Fax: (561) 833-5582
7 11 New Things to Help Your Business
20 A Better Business
Plan - Do You Have One?
Visit us online at: www.palmbeaches.org
Staff
Dennis Grady Chief Executive Officer Sandy Pullens Director of Administrative Services Kelley Burke Director of Sponsorships and Special Events Donald Burgess Operations Coordinator Alexandra Guth Communications Coordinator/Webmaster Kelly Fanelli Membership Director
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Bryan Baker Membership Development Sharon McIntosh Information Coordinator
January 2011
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Officers
Board of Directors
Larry B. Alexander Jones, Foster, Johnston & Stubbs, P.A. Scott Butler Butler Construction Co. John Cassidy John C. Cassidy Air Conditioning, Inc.
Dr. David Dorfman Mobile Chiropractic of the Palm Beaches
Chair
Carey O’Donnell Carey O’Donnell PR Group
Chair-Elect
Michelle Diffenderfer Lewis, Longman & Walker, P.A.
Treasurer
David D. Brooks, CPA
Secretary
Charles Gerardi The Palm Beach Post
General Counsel Paul Krasker Trident Title LLC
At-Large Member Wesley Lauer Akerman Senterfitt
At-Large Member Harvey E. Oyer III Shutts & Bowen, LLP
Past-Chair
Don DeWoody WGCompass Realty Companies
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Business Watch
Tom Dye Carlton Fields, P.A. Bill Fleming Palm Beach Atlantic University Clint Glass Balfour Beatty Construction Russell Greene Grand Bank & Trust of Florida Christine Hanley Christine D. Hanley & Associates, P.A. Patti Hamilton Southern Waste Systems LLC/ Sun Recycling Rick Herman PNC Bank Beth Kigel KBS Strategies Group, LLC Don Kiselewski Florida Power & Light Co.
Trish Lowry Florida’s Blood Centers Monica Manolas CEMEX
Danny Martell Florida Crystals Corporation Daniel Miller Broad and Cassel Frank Newman WACHOVIA, A Wells Fargo Company Mark Nosacka Good Samaritan Medical Center Kevin Probel Related Companies Nat Roberts Callery-Judge Grove Keith Spina Glidden Spina & Partners John Templeton Templeton & Company, LLP Dan Thomas Gunster Ricky Wade McDonald’s/”B”ing the Best, Inc. Steve Wasserman WPTV NewsChannel 5 Kathy Willoughby Bank of America Merrill Lynch
Upcoming Chamber Seminars 18 ABC’s of Employment ABC’s of Employment, a threehour morning seminar, will be held on Tuesday, January 18, 2011. The seminar will be presented by Christine D. Hanley, Esq. and Bari L. Goldstein, Esq., who practice employment and labor law representing employers, exclusively. The seminar will provide participants with the tools and techniques to: • Get the most from their employment applications; • Conduct worthwhile background checks; • Identify the best candidate and write a useful offer letter; • Discipline and document problem employees; and, • Conduct effective terminations and exit interviews. The following Continuing Education credits have been applied for: CLE credit hours through The Florida Bar; CEU recertification credit hours toward PHR, SPHR and GPHR certification through the HR Certification Institute; and CPE credit course hours through the Department of Business and Professional Regulation. Register online at www.palmbeaches.org: Members $10, Non-Members $25; Space is limited. Check-in & continental breakfast: 8–8:30 a.m. Seminar: 8:30–11:30 a.m. in the Chamber Boardroom. For additional information, please contact Kelley Burke at kburke@palmbeaches.org or call (561) 833-3711 (ext.) 231.
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Carl Domino Market Forecast Why the DOW Will Hit 20,000
Carl J. Domino, CFA, President and Chief Investment Officer of Carl Domino, Inc. presents: Why the DOW Will Hit 20,000, a market outlook for 2011 explaining why the DOW should soon hit 20,000. Tuesday, January 25. Check-in & continental breakfast: 8–8:30 a.m. Seminar: 8:30–11:30 a.m. in the Chamber Boardroom. Pre-register online at palmbeaches.org Members $10, Non-Members $20 prices increase on January 23.
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Young Professionals of the Palm Beaches Tax Seminar
Young professionals ages 21-40 are invited to attend this free educational tax seminar on Wednesday, January 26 at 5:30 p.m. in the Chamber Boardroom. Looking for knowledgeable advice regarding your 2010 taxes? Did you start your own business? Are you looking to get the largest return but aren’t sure what you can deduct?
Presented by: Liberty Tax owner and manager Scott Shrader. RSVP by contacting Alexandra Guth at (561) 833-3711 ext. 234 or aguth@palmbeaches.org.
January 2011
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Chamber of Commerce of the Palm Beaches
CALENDAR OF EVENTS JANUARY
Monday
Tuesday
Wednesday
Thursday
Friday 1
2
3
4
9
10
11 Power Networking at Lunch 11:30 a.m. Crowne Plaza
16
23 30
5
7
8
13
14
15
20
21
22
27
28
29
3
4
5
10
11
12
16
17 Chamber Breakfast PBC Convention Center 7:45 a.m.
18
19
23
24 Baseball Bash 6:00 p.m. Roger Dean Stadium
25
26
Business Builder 12 Seminar 8:30 a.m. Ambassador Committee 11:45 a.m. YPOP HotSpot Taverna Opa CityPlace 5:30 p.m.
18 19 State of the City Address ABC’s of Employment Breakfast 7:30 a.m. - PBC Seminar 8:00 a.m. Chamber Closed Convention Center Health Care Committee Location TBA 12:00 p.m. 24 25 26 Carl Domino Market YPOP Tax Seminar Forecast 8:00 a.m. 5:30 p.m. 31 Mixer - Ibis Golf & Country Club 5:30 p.m.
Women in Business 11:45 a.m.
17
Tuesday
Wednesday
1
6
Business Builder Seminar 8:30 a.m.
FEBRUARY
Monday
7
Power Networking at Lunch 11:30 a.m. Crowne Plaza
Leadership WPB 15 Host Mayoral Candidates Debate 7:45 a.m. Muvico - CityPlace
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20
Health Care Committee Location TBA 12:00 p.m. 21 22 Chamber Closed
Thursday
2
8 Ambassador Committee 9 11:45 a.m.
13
27
6
To Sell is NOT to Sell Workshop 8:30 a.m.
Women in Business 11:45 a.m.
Friday
YPOP HotSpot Northwood University 5:30 p.m.
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*All meetings are held at the Chamber unless otherwise noted. Events are subject to change
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401 N Flagler Drive, West Palm Beach, FL 33401 | Phone: 561.833.3711 Fax: 561.833.5582 | www.palmbeaches.org
Business Watch
11 Ways the Chamber is Helping Make 2011 Great for Your Business
January 2011
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#11
Communication Media
In 2010 the Chamber of Commerce launched its Twitter (@ChamberUpdate) Facebook Fan Page (Facebook.com/ PalmBeachesChamber) LinkedIn Groups for both the Chamber and YPOP as well as a Fan Page for YPOP. These media outlets will continue to grow and develop in 2011 offering members an opportunity to converse and connect with other members, view more event photos, share ribbon cutting celebrations and more. Throughout the year the Chamber will also be giving away free event passes as well as advertising. NEW: The Chamber is now offering Text Message event notifications. It’s free to opt in and you will receive event reminders and updates directly to your cell phone. Simply text palmbeaches to 82257!
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Business Watch
#10
One-on-One 101
The One-on-One 101, a new event in 2010, was created in response to members requesting more direction in developing relationships within the Chamber, forming strategic alliances for referrals and making the most of their Chamber investment. It’s a step-by-step approach to establishing a plan for setting meetings, following an agenda and tracking success. It Once you’ve been to a Chamber and generated collected business cards,and you directs are ready for the takes networking networkingevent contacts from events them intomost important part – follow up. If you do that well, you are way ahead of the game, since this is where most productive one-on-one meetings. This seminar/workshop is held at least people drop the ball. Personal callsand are is best, you are having trouble getting in touch with once phone a quarter freebut to ifChamber members.
The #1 Rule for Growing Your Business: Follow Up, Follow Up, Follow Up someone, don’t doom them to a never- ending game of phone tag. Send them an e-mail.
Dear ______________, It was great meeting you at the recent Chamber event. I’d love to set up an appointment to get together and see if we can help each other grow our businesses. I’m available either next Tuesday (insert date) at noon or we could meet for a cup of coffee on Wednesday (insert date) anytime between 8:30 a.m. and 10:30 a.m. What works best for you? To make our meeting as productive as possible, it would be great if you could bring along a Top Ten List, a list of ten companies you are looking for contacts in or business categories that you are looking for clients in. Chances are, I will know someone that will be a useful contact for you and this will help us identify them sooner. I’ll also bring a list and maybe you’ll know someone at one of the companies. If not, no problem! I’m mainly interested in learning more about your company. Then, if one of my contacts needs your product or service, I’ll be able to send you a referral. I’ll plan on us spending about 45 minutes to an hour together, and I’ll also bring along some information on my company. I’m looking forward to learning more about you and a fun and productive meeting. Sincerely,
Experts agree in that appropriate follow-up is things a critical ingredient a profitable relationship Covered the One-on-One 101 are such as “Howtotobuilding follow up” illustrated by the with a potential customer or client. It demonstrates your level of business ethics and personal commitment to above sample email which is handed out at each seminar. excellence. It also gives that prospect the assurance that the same level of professionalism will continue after the sale is complete. Most importantly, it provides them the comfort level they need to refer you to their own contacts. Once you have a consistent flow of referrals coming from happy clients, your business
January 2011
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#9
In 2010 the Chamber Welcomed 365 New Members!
A Matter of Taste Palm Beach A Professional Affair A-D Nursing Services A1A Airport & Limousine Service AAM Development, Inc. ABC Destinations Accounting, Insurance & Tax Services ADP Advanced Maintenance Palm Beach Advocare Elder Care Management Aerospace Industrial Coatings, Inc. Affordable Aerial Photography, Inc. Agency for Persons with Disabilities, Area 09 Aircoastal Helicopter Inc. Al Packer Ford Lincoln Mercury All Steps Home Care Almost Family Alpert Jewish Family & Children’s Service AlphaGraphics of the Palm Beaches Alternative Home Health Care American Credit Bureau, Inc. American Dream Vacations, LLC AmeriHome Health Care AmeriHome Health Care AMLI at Ibis Apartments Ancient Summit, Inc. April Kassover Consulting Aqua Capital, LLC Arbonne International Arc Stone & Tile Ascani Wealth Management, LLC Ashley Place ALF Audiology and Hearing Aids of the Palm Beaches Barber’s Baskets Barry Contracting Company BB&T (Branch Banking and Trust) BDO USA, LLP Beach Environmental Exterminating Bella Chic Weddings and Events Co. Big Brothers Big Sisters of Palm Beach & Martin Counties, Inc. BigCityNightsFlorida.com Blue Heaven HealthCare Services BNT For Kidz, Inc. BocceNation.com Bounce With Smiles Boynton Beach Nursing & Rehab Center BRANDed, LLC Brandon Transfer & Storage Co., Inc. Bright Ideas Marketing & Promotions, Inc. Brilliant Industrial & Janitorial Supply Corp. Brilliant Technology Solutions Brown Ltd. Marketing & Public Relations Butler Construction Company Cabo Flats Calvin Giordano & Associates Inc. Can’t Tell, Inc. Capscare Academy for Healthcare Education Captain Mike Merritt’s Native Guide Service, Inc. Carl Domino, Inc.
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Business Watch
Carpenter Security Integrators: Palm Beach, LLC Cawthra Interiors CBIZ MHM, LLC CBS Radio Chatsworth at PGA National CHI - Certified Home Inspections of South Florida by National Homes Christine Kay & Associates Cintas Corp. Cityside Suites Business Cafe’ Clark, Fountain, La Vista, Prather, Keen & Littky- Rubin Clear Link Networks, Inc. CMIT Solutions of South Palm Beach Coalition for Independent Living Options Cohen, Norris, Scherer, Weinberger & Wolmer Combined Insurance Community Mediation Network ComRes Concierge Car Service of the Palm Beaches LLC CONNECT - MIND, BODY, SOUL Connections for Business Consumer Debt Help Association Continental Connection / Gulfstream International Airlines Copart, Inc. Costco Wholesale CP Associated Services Inc. Credit Seminars of America, LLC Crowne Plaza West Palm Hotel Cruise Arrangers - Soccer @ Sea & The Beach Cumberland Heights Curtis Arnold & Associates D. Brooks and Associates CPA’s, P.A. DAL-TECH Engineering, Inc. Danny’s Septic and Drain Cleaning Data Wave Internet Marketing DCR Workforce, Inc. Decor Once More Deltacom Destination Events of the Palm Beaches / KarenKaye Enterprises LLC Dex Imaging Diane Cunningham Digital Market Media Group Dina C’s Fab & Funky Consignment Boutique DiSalvo’s Trattoria DR Design & Associates e-Silo, LLC Eagle - SWS East Coast Railing, Inc. Easter Seals Florida Inc. Easy Living Lifeline Program Economic Forum of Palm Beach County Effective Billing Solutions, Inc. ELDERFUN Electronic Resource Billing Elhilow, Smith & Company LLC Ellen McCormack, PhD, Microscopist EMJ Pharma, Inc.
Empire Beauty School Engagements, LLC ePay Builds Credit Eques Solutions, Inc. Equitrack Business Consulting Escape from Dubai evansewell Advertising Evergreen Insurance Agency Exceptional Services, Inc. - Event Planning Family Dentist of Palm Beach, Dr. Manoj Patel & Dr. Sunitha Sirivolu Family Relocation Consultants, LLC Fitness By D-Zyne, Inc. Fitness Strategies Florida CHAIN (Community Health Action Information Network) Florida Computer Care Florida Estate Management Services Florida Eye Microsurgical Institute Florida Professional Real Estate Florida Spine and Rehab Forte Interactive Inc. Franchise Mart / Biz 1 Brokers Freemium Technology Services Gardens Home Management Services Gator Electric and Communications, Inc. Gilbert Sachs Group Girl Scouts of Southeast Florida GLG Pharma, LLC Goodness Made Easy Inc. Grace Fellowship & Berean Christian School Graphic Source of the Palm Beaches Gratify - American Gastro Pub Greenlife Design Grey’s Guide to Senior Services.com GSI TELECOM AUDITING Hanlon Cocca & Associates, CPAs HB3 Services Health Care Interiors by The Finishing Touch Decorating, Inc. Health Coach: Juice Plus Health Focus Palm Beach LLC Health Insurance Linked, LLC Henry’s Brick Oven Pizza Hire Level Designs Home Care of Wellington, Inc. Home Safe South Florida HOODZ of Greater Palm Beach Horizon Care Services, Inc. Hospital Without Walls HSBC Bank USA, N.A. Hughes Music Productions, Inc. / Alverta Hall Hughes Foundation I.J. Morris Funeral Directors Improv Comedy Club Infinite Loop Photography INTECH Investment Mangement LLC Integrated Professional Services, Inc. Integrated Software Solutions Intracoastal Advisors IVThirst JD Environmental LLC Jeaga Middle School Jersey Girl Enterprises, Inc
JF Gallery & Framing John Fiorentino Insurance Agency Johnny Daniels Cleaning Service Juvenile Diabetes Research Foundation (JDRF) KangaRent Katie Smith Photography Kaufman Lynn General Contractors Kay Health Services Kaye Communications, Inc. KDT Solutions, Inc. KelMar Product Development Kids at Heart Photography Kidsville News! of Palm Beach Law Offices of Brian D. Guralnick P.A. LCA Architecture, Inc. LED Flash Board Leeds Custom Design, L.L.C. Life Alliance Organ Recovery Agency - University of Miami Lisa-Carroll.com Little Caesars Pizza of Boynton Beach LKG Law, P.A. Local Flair Magazine LOUD MOUTH Wireless Mad Science of Palm Beach Madrelle Medical Billing Magellan Surveying & Mapping, Inc. Majestic Floors & Interiors, Inc. Maloof Properties Inc. Mambo Italianos Manis & Company, CPA’s, PA Market America / nutraMetrix Marketing Innovations Martin Jay’s Money For Merchants MaryKay Max Davis Associates McClellan Chiropractic - The Wellness Center McCormick & Schmick’s MedExpress Urgent Care Miami City Ballet Michael Duseberg Inc. Michael Paul Dunkley Group Milan Media Productions MJS Investment Group Modernizing Medicine, Inc. Morgan Stanley Muvico Parisian 20 My Local Loop myEZdeal - Southeast Florida Nancy Hanlon Associates, Inc. Narda E. Butner, C.P.A., P.A. Net Interest Unlimited New Path Chiropractic Northern Electrical Enterprises, Inc. Northland Finance Corporation Northwestern Mutual Financial Network Norton Museum of Art NTwebs Nubarter, Inc. Ocean Drive Companies Ocean Massage & Skin Care LLC Office Depot Store #2727 Oh-Lah Spanish Professional Services Options Home Health
January 2011
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Original Impressions LLC OsteoArthritis Centers of America OsteoArthritis Centers of America - Jupiter Ovations Catering Palm Beach Community Bank Palm Beach County Golf Palm Beach Fitness Palm Beach Gardens Medical Center Palm Beach Glass Specialties, Inc. Palm Beach National Chapel Palm Beach Preventive Medicine Palm Beach Veterinary Specialists Palm Beach Zoo Palm Health Partners Panther Capital Realty, LLC - The Forum Buildings Paramount Training Services Path of Life Assisted Living Patty’s Potpourri PBCHomeAuctions.com PC Systemz.com PGA National Resort & Spa Physicians Advantage Services, Inc. Picture it Photography PODS (Portable On Demand Storage) Powerhouse Gym Pre-Paid Legal PrimePay Payroll & Business Services Princeton Trading Group, Inc. Professional Golf Car Corp. of Florida Professional Move Managers Professional Touch International Quantum Engineered Assessments, LLC - QEA Raydiant Tan Raymond James & Associates, Inc. Real Time Marketing Group Rebel Cook Real Estate Regions Bank Rehab After Work & Rehab After School Reiki Touch Therapy - Kangen Water Relational Development Rita’s Italian Ice Roth Staffing RS Collectibles and Events Ruth’s Chris Steak House - Boca Raton Sam’s Club School of Rock Science of Fitness, Inc. Seacrest Services Inc. Seminole Marketing, LLC Serenity Way Assisted Living Shades & More Shannon M. Mahoney, P.A., Law Offices Shell Systems Sign-A-Rama Jupiter Sir Speedy Printing (Downtown) Skyhigh Siding & Roofing, Inc. SkyWords Advertising, LLC So. Florida Home Inspection Associates, Inc. South Florida Radiation Oncology Southeast Asset Specialists, LLC Special Touch Weddings & Events Spodak Dental Group Squire, Sanders & Dempsey, LLP St. Mark’s Episcopal School
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Business Watch
Steinger, Iscoe & Greene Success Talk, Inc. Sunstate Cleaning Systems TAB Greater Palm Beach Area Tan Construction Services, Inc. Tarot by Christiana Gaudet Tasks Unlimited TD Bank The Bizline The Blind Monk The Business Center at CityPlace The Carlisle Palm Beach The Crexent, LLC The Foot & Ankle Group The Law Office of Michael A. Kaufman, P.A. The Law Office of Shane L. Stafford The Law Offices of Franks and Koenig The Leading Edge Speakers Bureau The Millennium Group The Mobile Hub T-Mobile Authorized Dealer The Partners Network The Pattern Maker The Secret Garden at Harbor House Resort The Town of Palm Beach Par 3 Golf Course The Waterford ThyssenKrupp Elevator TLC Solutions TooJay’s Toshiba Business Solutions Florida Towncare Dental of Forest Hill Transmedia Wireless Service Inc. / Verizon Wireless Treasure Coast Spine & Disc Center Treasure Coast Spine & Disc Center Ultimate Business Services Uncommon Architectural Places Upper Cervical Health Centers of America Upside Down Iceberg US Postal and Printing Corp. Verizon Wireless Vila & Son Landscaping Corporation Village Tavern Vista Lago Apartment Homes Vita Nova, Inc. Waldron and Associates WaterBoy Mobile Detail Waterman & Wolfe, P.A. Weiser Security Services, Inc. Weiss Handler Angelos & Cornwell, P.A. Wells Fargo Home Mortgage West Palm Beach Sunrise Rotary Club #23436 West Palm Beach VA Medical Center White Crescent Burgers, Inc. William Waters Designs, LLC Wilson Small Group Home, Inc. Windstream Windstream Communications Woof Gang Bakery Workscapes South, LLC WXEL - TV & FM Yeend Castaneda & Flynn, LLP Your Technology Partner YRA Design Inc. Zambelli Fireworks Internationale
#8
Dining and Accommodations Guide
The 2011 Guide to the Palm Beaches is home to a new section: the Dining and Accommodations Guide. This free section is optional for Chamber members to participate in but offers readers a side-by-side comparison of each establishment to aid them in their dining and accommodations experiences.
January 2011
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#7
Science and Technology Committee
The Chamber’s newest committee, created in the summer of 2010, is designed to unite Chamber members within the science and technology industries. The objective of the Science and Technology Committee is to provide a forum for the discussion of issues of concern to both industries. The Committee will also assist in promoting the efficient use of technology in businesses, including the development of standards for the management and application of science and technology. In addition to reviewing challenges that affect the Science and Technology industries, the committee intends to offer educational insight as a benefit to the wider membership of the Chamber of Commerce. This educational insight will include an ongoing series of seminars designed to provide information, resources, and expertise on popular topics in business technology. These seminars will empower local businesses with the tools and resources to improve technological efficiency. The ultimate aim is to become a source for information and solutions for business applications that improve the bottom line. At present, membership in the Committee is open to businesses directly involved in the field of science and/or information technology.
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Business Watch
#6
#5
Donuts With Dennis
Towards the end of 2010 the Chamber launched a new breakfast event called Donuts with Dennis. This informal morning event gives members the opportunity to sit down the Dennis Grady, CEO of the Chamber of Commerce of the Palm Beaches and discuss the local economy, business news, legislative threats and opportunities as well as open dialogue about what the Chamber can do to better serve its members. This free event is held every few months and is open only to Chamber members.
Power Networking - New Year, New Location
Starting in January 2011 the Chamber’s popular lunch event, Power Networking, will move to its new location - The West Palm Beach Crowne Plaza.
January 2011
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#4
New Website
In December the Chamber launched the newly redesigned palmbeaches.org. The new website boasts of being easier to navigate, more informative, and more interactive. The homepage offers an easy to use annual events calendar, interactive polls and surveys, testimonials, and social media links.
Above: Under the News tab the e-Business Watch area hosts the current issue as well as all the back issues.
Above: The new home page offers an annual calendar, interactive testimonial, interactive polls, social media links, and more. Check back often for updated information. Right: Under Membership - Guides and Publications our annual Guides including the 2011 Guide to the Palm Beaches is available in digital format.
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Business Watch
#3
Business Builder Workshop - An Open House Coffee Event A new program for 2011 is the Business Builder workshop series. Held at least once a month this free event is tailored towards Business owners, future Chamber members, new Chamber members, sales and marketing professionals. The first event will be on Wednesday, January 12 at 8:30 a.m. in the Chamber Boardroom. In this workshop you will: Learn how the Chamber helps you build your business; Build your contacts by making your networking work; Meet a roomful of business owners and area professionals; Receive an information packet including a calendar of events, copies of the Chamber’s directories, committee information, and more!
January 2011
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#2
To Sell is NOT to Sell
Another new addition to Chamber programing for 2011 is the To Sell is NOT to Sell monthly seminar series. Held on the first Wednesday of each month this seminar is free for Chamber Members ($10 for future members) and is facilitated by Greta Schulz of Schulz Training and Consulting. Would you like to receive more referrals? Are you tired of “full contact” sales? Do you want to close more sales? Attention all Sales and Marketing professionals, if you’ve answered YES to any of these questions then you should attend this FREE workshop! Learn How To: • • • • •
Use a more consultative approach to selling Increase referrals Close more clients in less time and more! Learn to get an appointment at every networking event.
The first To Sell is NOT to Sell Seminar was presented on Wednesday, January 5 to a full room of attendees.
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Business Watch
#1
Our Members Are Hiring
In October 2010 the Chamber sent out its first “Our Members Are Hiring” E-mail to much praise and excitement of Chamber members. Chamber members are encouraged to send any full time job positions they currently have available to be included in this free monthly e-mail. To be included in the next “Who’s Hiring” e-mail, submit the following information to Alexandra Guth at aguth@palmbeaches. org no later than Monday, January 10: - Company name - Job Title - 1-2 sentences describing the position - A hyper link to full job description If hiring for numerous positions, please list job titles and provide 1 link to more information. Company must be a Chamber member to be included. Full time employment openings only, please no business opportunities.
January 2011
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Essential Elements of a Good Business Plan A business plan should be a work in progress. That’s because your business will evolve over time, and be influenced by outside factors such as the economy and local conditions. Even successful business owners should maintain a current business plan to ensure they remain knowledgeable on the elements that can affect continued success. •
Business Plan Executive Summary The executive summary is Part 1 of the business plan and is the most important section of your plan. It provides a concise overview of the entire plan, along with a history of your company. This section tells your reader where your company is and where you want to take it. It’s the first thing your readers see; therefore, it is the thing that will either grab their interest and make them want to keep reading or make them want to put it down and forget about it. More than anything else, this section is important because it tells the reader why you think your business idea will be successful.
•
Market Analysis The market analysis section is Part 2 of the business plan. This section should illustrate your knowledge about the particular industry your business is in. It should also present general highlights and conclusions of any marketing research data you have collected; however, the specific details of your marketing research studies should be moved to the appendix section of your business plan. This section should include: an industry description and outlook, target market information, market test results, lead times, and an evaluation of your competition.
•
Company Description The company description is Part 3 of the business plan. Without going into detail, this section should include a high level look at how all of the different elements of your business fit together. The company description section should include information about the nature of your business as well as list the primary factors that you believe will make your business a success.
•
Organization & Management Organization and Management is Part 4 of the business plan. This section should include: your company’s organizational structure, details about the ownership of your company, profiles of your management team, and the qualifications of your board of directors. Who does what in your business? What is their background and why are you bringing them into the business as board members or employees? What are they responsible for?
•
Marketing & Sales Management Marketing and Sales Strategies is Part 5 of your business plan. Marketing is the process of creating customers, and customers are the lifeblood of your business. In this section, the first thing you want to do is define your marketing strategy. There is no single way to approach a marketing strategy; your strategy should be part of an ongoing businessevaluation process and unique to your company.
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•
Service or Product Line Service or Product Line is Part 6 of your business plan. What are you selling? In this section, describe your service or product, emphasizing the benefits to potential and current customers. For example, don’t tell your readers which 89 foods you carry in your “Gourmet to Go” shop. Tell them why busy, two-career couples will prefer shopping in a service-oriented store that records clients’ food preferences and caters even the smallest parties on short notice.
•
Funding Request The Funding Request is Part 7 of your business plan. In this section, you will request the amount of funding you will need to start or expand your business. If necessary, you can include different funding scenarios, such as a best and worst case scenarios, but remember that later, in the financial section, you must be able to back up these requests and scenarios with corresponding financial statements.
•
Financials
Financials is Part 8 of your business plan. The financials should be developed after you’ve analyzed the market and set clear objectives. That’s when you can allocate resources efficiently. The following is a list of the critical financial statements to include in your business plan packet: Historical Financial Data and Prospective Financial Data. •
Appendix The Appendix is Part 9 of your business plan. This section should be provided to readers on an as-needed basis. In other words, it should not be included with the main body of your business plan. Your plan is your communication tool; as such, it will be seen by a lot of people. Some of the information in the business section you will not want everyone to see, but, specific individuals (such as creditors) may want access to this information in order to make lending decisions. Therefore, it is important to have the appendix within easy reach.
This information has been reprinted from the U.S. Small Business Administration website. For more information and additional articles visit www.sba.gov.
January 2011
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More Ways Than Ever. In the book, online, or on your mobile device. Find the local information you are searching for. Anytime. Anywhere. AT&T Advertising Solutions is proud to support The Chamber of Commerce of the Palm Beaches.
To advertise call 1-800-GET-REAL. Š2010 AT&T Intellectual Property. All rights reserved. AT&T, the AT&T logo and all other AT&T marks contained herein are trademarks of AT&T Intellectual Property and/or AT&T affiliated companies. 10-12741 PNT_08/04/2010