14BB AN INDEPENDENT SUPPLEMENT BY MIA MEDIA & COMMUNICATIONS GROUP TO THE SUN SENTINEL FRIDAY , OCTOBER 14 , 2016
BUSINESS REPORT What Does It Take to be a Successful Entrepreneur ? People , Partnerships , Performance and Profits
By : Beatrice Louissaint
Beatrice Louissaint
Having worked in economic development and with minority entrepreneurs for over 20 years , I have gained tremendous respect for business owners . They are the risk takers , innovators and job creators . Every day , I see firsthand the vital role that minority businesses play in shaping our economy . The most successful business owners focus on four core areas : people , partnerships , performance and profits .
People – Smart business owners hire the right people who can help them achieve their business goals . They know
that without an efficient , effec�ve and hardworking team they cannot achieve their entrepreneurial dreams and grow a great business .
Partnerships – Partnerships are key to business success , whether they are with suppliers , bankers , business service providers , joint venture associates or strategic alliance partners . Partnerships allow companies to draw on exper�se they may not have – or need – in-house . A company can maximize its investment into its core competencies , while drawing on the best of other ’ s experience and exper�se . And , small businesses that grow exponen�ally are able to draw from the right partnerships in order to bid on and win larger projects .
Performance – Well-run companies review their performance and evaluate how well they are mee�ng their clients ’ needs . Also , they have a plan for growth and a strategy for long-term sustainability in the marketplace . When it makes sense , they invest in tools to improve that performance , and they con�nue to research what clients need and how the market may change .
Profits – Companies measure success by profitability . They have a clear , up-to-date , picture of pricing , expenses and sales – all of which are important factors in determining profitability . There is no greater measure of a company ’ s success than profits and its ability to con�nue to gain market share . A company that is not profitable is not sustainable .
For a business owner to be successful , he or she must never stop learning and adap�ng . Successful entrepreneurs review their strategy at each stage of development and , when necessary , iden�fy the right advisors to help them map out their business growth .
Are you a minority business owner looking to improve your people , partnerships , performance and profits ? Make an appointment with the Miami MBDA Center to get access to capital , technical exper�se , advanced business consul�ng resources and innova�ve management services . October 3 – 7 , the Center will celebrate Minority Enterprise Development ( MED ) Week by hos�ng a series of workshops to help companies grow . To learn more about the services of the Miami MBDA Business Center , to a�end MED Week or to schedule an appointment with a business consultant , visit www . mbdamiamicenter . com or call ( 305 ) 751-2907 .
Beatrice Louissaint is president and CEO of the Florida State Minority Supplier Development Council ( FSMSDC ). The organization is the operator of the U . S . Department of Commerce Miami Minority Business Development Agency ( MBDA ) Business Center , which serves southern Florida . FSMSDC ’ s goal is to increase purchasing from minority businesses by government entities and corporations , while increasing minority business ’ s operating capacity through hands-on business assistance , training and access to technology and capital resources . Founded in 1975 in southern Florida ( formerly named the Southern Florida Minority Supplier Development Council – SFMSDC ) and expanded to cover all of Florida in January 2016 , FSMSDC is one of 23 regional councils affiliated with the National Minority Supplier Development Council . The FSMSDC acts as a liaison between corporate America and Minority Business Enterprises in the state of Florida . To learn more about the FSMSDC , visit fsmsdc . org or call ( 305 ) 762-6151 .
ARBITRATION & MEDIATION
By : Stanley Zamor
Stanley Zamor , Florida Supreme Court Cer�fied Civil / Family / County Mediator / Trainer & Qualified Arbitrator
I was contacted by an individual who wanted to know how to pursue a claim against her former a�orney . She stated , “ Last year I hired an a�orney to assist me with a sensi�ve business financial ma�er . We were in constant contact before I executed the retainer / fee agreement ; and I paid a he�y retainer that would automa�cally replenish monthly . But a�er
“ A�orney Fee Arbitra�ons : From Trusted Counsel to Lawyer-Client Fee Adversaries ”
the case was filed in court , I could not get a return phone call . I felt abandoned . I was only contacted , or assisted in court by paralegals , associates or hired “ coverage a�orneys ”. This went on for 6 to 8 months . When the lack of contact and a�en�on triggered a series of nega�ve hearings , I fired her and hired another a�orney . Now that my case is over , I want to recoup my ini�al retainer and the tens of thousands of dollars paid to my first a�orney . What are my op�ons ?”
Not being sa�sfied with an a�orney ’ s service is a common complaint and there are various op�ons . I inquired if she sought the advice of an a�orney so they can evaluate her damages and legal remedies . She refused ; and stated that she does not trust a�orneys and contacted me for op�ons and alterna�ves . In response I told her a few of many op�ons are 1 ) file a case and li�gate , 2 ) private media�on , 3 ) contact the bar and if the other party agrees , apply to the Florida Bar Fee Arbitra�on Program . The following are highlighted excerpts from the “ Consumer Guide to the Legal Fee
Arbitra�on Program ” ( contact the Florida Bar for the complete consumer guide ):
What is the Florida Bar Fee Arbitra�on Program ?
On April 6 , 1989 , in an effort to encourage the amicable resolu�on of growing lawyer-client fee disputes , The Florida Bar established a statewide fee arbitra�on program . The sole purpose of the arbitra�on program is to decide the fair and reasonable fees charged by an a�orney . Par�cipa�on in the program is voluntary . Consent by both par�es is required in order to par�cipate in the fee arbitra�on program . How Does Binding Fee Arbitra�on Work ?
Binding arbitra�on means that the involved par�es agree to accept the decision of the arbitrators who follow specific rules that are less restric�ve than the Florida Rules of Civil Procedure . And depending on certain factors including the amount in controversy , the arbitra�on hearing will be either heard by a panel of three appointed arbiters or a single arbiter ( contact the Florida Bar for specifics about the process ).
The arbitrator ( s ) will hear tes�mony from both sides and take evidence from which they will make a decision and issue an award . The only ques�on the arbitrator ( s ) will address is the “ fair and reasonable value ” of the lawyer ’ s services . Complaints about an a�orney ’ s conduct or possible ethical viola�ons should be filed through The Florida Bar ’ s Lawyer Regula�on Department . Is Retaining an A�orney for the Hearing Necessary ?
No . The goal and purpose of this arbitra�on forum is to resolve legal fee disputes quickly and inexpensively without having to hire an a�orney .
If you have any questions , please contact the Florida Bar Fee Arbitration Program administrator at ( 850 ) 561-5719 .
Stanley Zamor is a Florida Supreme Court Certified Civil / Family / County Mediator / Trainer & Qualified Arbitrator . szamor @ i-mediateconsulting . com www . i-mediateconsulting . com ( 954 ) 261-8600