Starting a Business? Steps every entrepreneur needs to know

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Woman Opening A Store

Confused about the planning, legal and regulatory steps you should follow? Did you know that home-based businesses are required to hold permits to operate legally in most states? What about incorporation? Many new businesses assume they need to incorporate or become an LLC from the get-go—but the truth is, more than 70 percent of small businesses are owned by unincorporated sole proprietors (although even this group is required to register their businesses).

So, variables aside, there are still some fundamental steps that any business needs to follow to get started. Below are steps that can help you plan, prepare, and manage your business—while taking care of the startup legalities. Not all these steps will apply to all businesses, but working through them will give you a sense of what needs your attention and what you can check off.

Write a Business Plan

Yeah, yeah, you know you should write a business plan whether you need to secure a business loan or not. The thing is, a business plan doesn’t have to be encyclopedic and it doesn’t have to have all the answers. A well-prepared plan—revisited often—will help you steer your business all along its growth curve. Try to think of your business plan as a living, breathing project, not a one-time document. Break it down into mini-plans—one for marketing, one for pricing, one for operations, and so on.

Get Help and Training

Starting a business can be a lonely endeavor, but there are lots of free in-person and online resources  that can help advise you as you get started. Check out what‘s offered at your Small Business Development Centers; SCORE, at score.com (which offers free mentoring services); Women’s Business Centers, your local U.S. Small Business Association (SBA) office, or the US Business Leadership Network® (USBLN®).

Choose Your Business Location

Where you locate your business may be the single most important decision you make. Many factors come into play such as proximity to suppliers, the competition, transportation access, demographics, and zoning regulations.

Understand Your Financing Options

You may choose to bootstrap, fall back on savings, or even keep a full-time job until your business is profitable, but if you are looking for an external source of financing, these resources explain your options.

Decide on a Business Structure

Going it alone or forming a partnership? Thinking of incorporating? What about an LLC? How you structure your business can reduce your personal liability for business losses and debts. Some choices can give you tax benefits. To help you determine the right structure for your business, the SBA can provide an overview of your options, information on how to file the necessary paperwork in your state, and the tax implications of your decision.

Register Your Business Name (“Doing Business As”)

Registering a “Doing Business As” name or “trade name” is only needed if you name your business something other than your personal name, the names of your partners, or the officially registered name of your LLC or corporation.

Get a Tax ID

Not every business needs a tax ID from the IRS (also known as an “Employer Identification Number” or EIN), but if you have employees, run a business partnership, a corporation or meet certain IRS criteria, you must obtain an EIN from the IRS. You’ll also need to start paying estimated taxes to the IRS; visit irs.gov for more about this process.

Register with Tax Authorities

Employment taxes, sales taxes, and state income taxes are handled at the state-level. Visit sba.gov to learn more about your state’s tax requirements and how to comply.

Apply for Permits and Licenses

All businesses, even home-based businesses, need a license or permit to operate. The SBA provides a guide explaining permits and licensing and includes a handy “Permit Me” tool that lets you determine what your permit and licensing needs are, based on your zip code and business type.

The SBA is one of your best resources for establishing, operating and growing your business.

Source: SBA

Cara Santana Joins Glamsquad As Their Global Engagement Officer After Her Success With The Glam App

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Actress and former CEO of The Glam App, Cara Santana, has joined Glamsquad as their Global Engagement Officer. The longtime actress founded The Glam App after struggling to find on demand beauty services during filming in more remote locations where services were not easily accessible. After exiting her own on demand beauty platform, Santana has recently joined the Glamsquad team to bring a fresh perspective to their scaling business model. She shares how she went from a Hollywood start to entrepreneur.

Yola Robert: You have pursued acting since the age of fifteen, but have always loved the world of business.  How did you shift from the acting world into the business world? 

Cara Santana: My fiancé is also an actor so I would end up getting a lot of attention on what I was wearing to events or red carpets when I was with him. He encouraged me to start a blog to keep meaningful conversation ongoing with women from around the world. I loved helping women feel like luxury was accessible. Eventually, I started working with brands as a digital influencer and that was my first foray into the business world.

Robert: The idea for The Glam App came to you when you were shooting Salem in Shreveport, Louisiana. What white space in on demand beauty did you discover while you were there?

Santana: I had arrived in Shreveport with only 24 hours to get rid of my acrylic nails, fake eyelashes and long ombre hair extension. I didn’t have transportation, they wouldn’t send anyone to me and I had no idea who I would even go to in the area. I thought to myself, “Gosh, this must be a problem that women find themselves in all the time.” I wanted to find a way to give accessibility to luxury beauty services at any time. As an actress I have developed relationships with so many hair stylists and makeup artists so it made sense to create an equally advantageous platform for not only a consumer of beauty, but also a provider of beauty. That was the catalyst to launching.

Robert: Being the founder and CEO of The Glam App was your version of business school. How was your experience going to business school in real life?

Santana: It was a long journey of trial and error. If I had known everything I was going to encounter and all the struggles that would have come my way, I probably wouldn’t have launched a business.

Robert: What advice do you have for women out there who are thinking about starting a business?

Santana: Firstly, You have to be super passionate about what you are doing. Secondly, surround yourself with people that are better at doing things than you are. I think the reason why The Glam App was so successful was because I hired people with my weaknesses as their strengths. Thirdly, don’t be afraid to ask for help.

Continue onto Forbes to read the complete article.

This Latina Started A Studio With Her Family And Became One Of NYC’s Top Trainers In The Process

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Samantha Ortiz started a business before even realizing she started a business. A couple of times a week, her sister and her sister’s best friend would find themselves in the Ortiz family living room getting ready to be led in a workout by Samantha. Thanks to social media and personal referrals,what started with just the three of them slowly grew into more structured classes — and this was the beginning of Triple Threat Bootcamp, or the Ortiz family business.

“I outgrew my parents’ living room,” explained Samantha Ortiz. “I had to start running bootcamp classes in public parks and [eventually] I rented a small studio on the 3rd floor of a building, but [even that] still didn’t feel like home to me. I had this image in my head of having a fitness studio designed with monkey bars, a slam wall, a view overlooking Brooklyn, equipment all around the room and a place where my clients could call home. A few months after renting the small studio, my family and I were driving up Flatbush Avenue in Brooklyn and as we stopped at a light, I looked up and saw a “for rent” sign. We called and the rest is history.”

Samantha’s mother, Aileen Ortiz, who now serves as President and CEO of TTB, never doubted the why behind her daughter’s decision because she related to it herself.

“I was motivated by the vision of seeing the three of us using our talents and skills to bring a healthy lifestyle to others,” shared Aileen. “My interest in healthy living began 26 years ago and I instilled that in my girls from a young age.”

The duo is rounded out by Christine Ortiz, Samantha’s sister and the studio’s Operation Manager and co-owner.

“We have always believed in health and wellness,” shared Christine Ortiz. “Combining fitness and nutrition was a no brainer once Samantha became a trainer. We wanted to impact more people in our community and be pioneers of female fitness entrepreneurship.”

With their mother at the helm, the studio has grown to be a staple in their Brooklyn neighborhood and has provided a platform for others to experience Samantha’s training style. This year, for a second year in a row, Classpass (the flexible fitness membership app) recognized Samantha as one of its top fitness instructors in New York City.

The recognition serves to underscore how Samantha’s mission behind TTB has simply been amplified as its grown.

“I was inspired to open Triple Threat Bootcamp because motivating others to be the best versions of themselves has always been my passion,” says Samantha Ortiz. “I felt like it was my mission to bring fitness and health to my community.”

Below Samantha shares more insight on what it has been like running a business with her mom and sister, what advice she has for other Latinas, and what she would do differently.

Vivian Nunez: What advice do you have for any Latinas who are looking to break into fitness and the business world?

Samantha Ortiz:I love to remind my fellow Latinas that anything is possible. Being Latina in the fitness industry and owning a fitness studio with your family (mom and sister) isn’t normal by any means but that’s what I love about it. You don’t have to follow the crowd, you can create your own lane. Don’t be afraid to go after what fuels your soul. Even if you don’t know everything, you will learn along the way. Life is about taking chances and learning from every experience. Last piece of advice, network. Go to events, reach out to people who are in your field of work. There’s nothing like being surrounded by like minded people.

Continue onto Forbes to read the complete article.

Under Alex Gallardo, New Artistic Direction For Sony Music US Latin

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At a time when Latin music is experiencing unprecedented popularity and Sony leads the Latin category in U.S. market share, according to Nielsen Music, Nir Seroussi’s unexpected exit from Sony Music U.S. Latin — on Jan. 18, after four years as president and another four as managing director — came as a surprise to the Latin music community. Sony did not give a reason for the change, although both the label and Seroussi said they were parting on amicable terms.

But the announcement of Alex Gallardo, 43, as the division’s new president puts an artist favorite at the helm of the company and reinforces its commitment to investing in A&R.

“Sony Music Latin Iberia is the home of the artists and will always be. It’s my most important flag,” Afo Verde, Sony Music Entertainment’s chairman/CEO of Latin America, Spain and Portugal tells Billboard. “[Alex] is a consummate professional, musician, A&R, lover of music and all of its creative process from start to finish.”

Gallardo, who spent six years as senior vp A&R for all of the company’s regions and is known as firm and even, will oversee a staff of nearly 100. “What’s important is to understand artists, their needs and motivations, and to create the best environment possible for their creativity to flow,” he says. And his appointment was met with praise from many in the artist community. In a statement, Shakira called Gallardo a “professional” who is “in touch with the musical landscape and understands artists,” while Ricky Martin says, “His focus, knowledge and passion makes artists trust the process.”

To read the complete article, continue on to Billboard.

This Latina Went From Product Development To A Frida-Focused Online Pop-Up Store

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For Tatiana Figueiredo a career in entrepreneurship wasn’t the end goal. Figueiredo was building a career in product development across tech companies when she started an Instagram for fun. Her intention behind the Instagram page was to celebrate Frida and her contributions to her own Latinidad, over time the Instagram page has garnered thousands of followers and now serves as a marketplace for Frida-inspired artwork.

“I learned as a product manager that the most important skill is not knowing everything but knowing where to find the information you need and then learn it quickly,” shares Figueiredo. It’s a huge deal to just know that the answer is not necessarily to hire an expert but instead to spend a few days nerding out to learn something..

Her tech background and exposure to the startup world has helped her navigate an entirely different career than she expected. Her understanding of her parents’ expectations of her has also helped her make peace with the guilt that came with leaving her steady job.

“My parents sacrificed everything to move to this country for my sister and I. Then, when it feels like everything is going well with my career, I’m making good money, moving up fast, all of a sudden I declare that I’m going to quit and [to pursue a passion project because] “I’m not fulfilled in my current work”. That’s just not something my family will ever be able to relate to. What has helped me is to put all that first-generation guilty energy into doing my best making sure the things I’m building are successful. I owe them that.”

Below Figueiredo shares advice for Latinas who are teetering between a traditional job and wanting to pursue their own passions, what inspired her to focus on Frida, and how she balances consulting with building up the brand.

Vivian Nunez: What red flags would you encourage others to look for when it comes to career transitions? 

Tatiana Figueiredo: I think the idea of “going all in” is romanticized too much. Whether you’re going into entrepreneurship or just want to transition to another job, do the work for the transition while you’re still grounded in a job – and a paycheck. From my experience this is better than just quitting and starting from scratch for a lot of reasons. First, you don’t want to put too much financial burden on your next opportunity from day one. If it’s something you’re doing on the side at first, you’ll have more time and energy to figure it out without money pressures. Also, creatively, you’ll have time to expand your focus and have fun if you think of it as just a side project. And most importantly, you might have a great idea but you might actually hate working on it. By doing it on the side for a while you’ll be able to tell if it’s something that gives you the kind of energy you’re looking for. Same when looking for a new job: talk to the people doing it, ask about their day-to-day, try to live a day in your new life and see if it’s what you really want.

Nunez: What inspired you to use Frida as the center for your new brand? 

Figueiredo: I studied a little art history in high school and college and always thought Frida was the most unique artist we studied. In those classes, I think she was literally the only female artist we focused on. I was immediately drawn to her work and her life. I researched all I could about her, watched the documentaries, read her diary. While I was learning about Frida in Art History, I was also studying Latin American History and Spanish. It was through all these things that I began to connect my experience as an immigrant from Brazil to the broader experience of women in Latin America and Latinas in the US. Frida’s story and voice was always inspiring to me because of her mix of strength and vulnerability that was so familiar to me because I saw it in the women of my family.

But I didn’t intend to make her the center of a brand at first. I didn’t think I was even starting a brand. I started the Instagram as a side project while I was winding down a bigger work project. I had been saving images I saw on Instagram and figured I’d just post them kind of as a public art board. It was just for fun. After I started I realized the lack of women artists I saw in Art History years earlier was still a thing. Even on Instagram, the big art accounts post male artists 90% of the time. So I made it a rule that we would only post non-male artists. It was from there and through the Instagram account that I met a few women artists to partner with for a pop up shop and the brand grew from there.

Nunez: How has your Latinidad inspired your career? 

Figueiredo: Where I’m from – and in many Latin American countries – entrepreneurship is not something cool that some people get to do, it’s how people survive. I come from a family where everyone runs a business. My parents always ran businesses, my aunts and uncles all had their hustles, it seemed like I was always around someone trying to create a new thing to make money. In Portuguese and Spanish there’s not even a cool word for it like “entrepreneurship.” As varied as it has become, my career still seems like an internet version of what my grandparents started (because they had to).

Continue onto Forbes to read the complete article.

A Latino Wine Company Is Challenging Perceptions in Washington, D.C.

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Politics aside, Washington, D.C., has undergone a remarkable transition in recent years. Its dining scene has evolved from cookie-cutter steakhouses and chain restaurants (plus a reliable handful of Ethiopian-American destinations), to boldly creative bars and restaurants showcasing culinary influences from the Mid-Atlantic and around the world.

The wine scene is evolving, too. Until quite recently, there were very few places Washingtonians could go to learn more about “New World” wine from places like ArgentinaChile, and Uruguay, and be able to take home a bottle to enjoy with their family and friends.

Enter Grand Cata, A Latino Wine Company.

For owners and friends Julio Robledo and Pedro Rodriguez, opening a specialty wine store presented an opportunity to raise awareness about the diversity of Latin American wine. It was also chance to embrace their cultural identity and improve the representation of Latin America across the city.

“We met in late 2007, working for a Latino-focused non-profit organization,” Robledo says. “For both of us, wine has always been our passion. I remember growing up as a kid in Chile, seeing a bottle of wine would mean happiness — at family barbecues, holidays, birthdays and so on. Through a bottle of wine, we can tell a story, share how we grew up, and, in a way, bring part of our family here to the city.”

To read the complete article, continue on to Vinepair. 

The Hispanic consumer has a major impact on the 2019 U.S. markets

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If one thing is clear as we start 2019, it’s that America is changing. According to a Claritas report (registration required), in the United States today, there are 131 million multicultural Americans, making up 37.5% of the U.S. population, with Hispanics accounting for the largest portion at 19.6%.

Minority groups now represent the majority of the population in more than 400 U.S. counties. There can be no doubt that America is becoming multicultural and that Hispanics are a significant part of this change.

Although some brands are starting to face the facts, there is a still a long way to go before advertisers understand the U.S. Hispanic market and unlock its potential.

What’s Changed

From the enormous success of Black Panther and Crazy Rich Asians to the rising popularity of Hispanic celebrities like Cardi B, America has changed a lot in the past year. We’ve seen advancement in film representation, a resurgence in cultural and political movements, and the continued popularity and application of technology like smart homes and streaming media. And 2019 will be no different, with these changes impacting not only the people living in the U.S. but also brands across industries that will have to evolve with the changing American landscape.

According to 2017 estimates from the Census Bureau, there are over 58.9 million Hispanics living in the United States, and by 2030, U.S. Hispanics are expected to reach more than 72 million. More than that, this growth doesn’t just mean more Hispanics, it also means a transformation of the Hispanic market.

Hispanic consumers today are not the same as Hispanic consumers from years back. They are now the youngest ethnic group in America with the median age being 28. Realizing their youth is crucial for advertisers as it influences their media consumption habits, the technology they use, their abundance in prime spending years, and much more. Hispanics — especially in the younger age groups of the U.S. population — are also increasingly more diverse than older Americans. As a matter of fact, almost half of the U.S. millennial population will be multicultural by 2024 (registration required).

To read the complete article, continue on to Forbes.

How Knowing Her Worth Is Helping This CEO Build A Latinx Lifestyle Brand

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Patty Delgado understands Latina millennials living in America and who are trying to pursue their own version of the American dream because that is what her own hustle consists of.She navigated self-employment and working freelance in the design space after she graduated from college and eventually that transitioned into the new business she helms — Hija de tu Madre.

The Latina lifestyle brand celebrates a generation’s entrepreneurial drive while honoring the phrases and cultural realities that helped mold them. Delgado’s product line started with clothing and accessories and has now moved into the home office space.

“Back in 2016 I had a little idea for a jacket: a denim jacket embellished with a sequin design of La Virgen de Guadalupe,” shares Delgado. “With $500, just enough to make 30 jackets, I started my little ecommerce business called Hija de tu Madre. Once I started, I knew HDTM had the potential to reach a large untapped market: Latinas.”

In just two years, Delgado has gone from being entirely an online experience to having an office and showroom headquartered in Los Angeles. This year she plans to host events — panels, workshops, and networking opportunities — in the space and make it a larger cultural experience.

“We’re a $1.7 trillion dollar industry, but the business world doesn’t treat us as the superpower that we are,” shares Delgado. “Latinas are still the lowest paid labor group. How is it that we’re one of the greatest U.S. buying powers but with the greatest wage gap? With this political climate, and anti-Mexican and Central American sentiment, it’s my responsibility to create a Latinx safe space. Hija de tu Madre will continue to remind our community that our culture matters, and that we aren’t going anywhere.”

Continue onto Forbes to read the complete article.

This Latina Nike VP On Why She Sets Aside Three Hours A Week To Mentor Others

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Andrea Perez is a Nike MVP if you will. This year she will be walking into her 16th year with the company having grown stronger, more dedicated to the brand, and more aware of her own skillsets with every year that passed.

Now, as Nike’s Vice President and General Manager of Global Brand Jordan for women and kids, Perez wants other Latinas to step into their power and into big dreams of their own.

“My advice for Latinas when connecting with others is to be very proud of who you are and what you represent and bring that to the table when establishing relationships,” shares Perez. “Also bring people up with you — for some of us it was a difficult ride to get to where we are at now, so let’s make sure to pave the road and invite others in.”

Perez’s love of sports dates back to her time as a varsity soccer and softball player and only grew into a commitment to a brand that championed all she believed sports and advertising should be.

“As a female athlete growing up in Mexico, I never felt as respected as the male athletes,” shares Perez. “However, in 1998, one company was completely changing the game – Nike. Nike was truly speaking to girls like me, through Mia Hamm and the 99’ers, through Jackie Joyner Kersee and launching numerous campaigns that I really connected with. I was only in high school, but I knew then that I wanted to work for a place like that and began creating Nike ads in my notebooks. It truly was the only place I ever wanted to work.”

Her time at Nike has afforded her the opportunity to mentor others who may want to walk on the same path. Every week Perez sets aside three hours of her time and dedicates it to meeting with those who want her advice on any aspect of their careers.

“I advise my mentees to come to meetings with something to talk about,” states Perez. “A lot of people want to establish relationships and the first thing they ask you is ‘tell me your story.’ I find that that question can be less valuable than coming with a specific question on how to help oneself. I start my meetings asking people a little bit about their background followed by ‘how can I help you?’. The sharper they are in their answer and their ask, the better the answer and insight they can receive from me.”

Below Perez shares more advice she gives to Latinas, what she’s learned through her 3-hours a week mentorship sessions, and why a career at Nike has been as dynamic as it’s been long.

Vivian Nunez: How have you fostered such a long career at the same company? 

Andrea Perez: Two reasons: Nike’s brand values and the ability to have a diverse career within one company. Regarding Nike’s values, I truly believe that life is better with sport. Not just the health benefits, but everything it brings to people’s lives, especially young women. To be in a place where I come to work every day and I feel like I’m contributing to that belief, it’s massive for me. Second, the ability to have a very diverse career. Nike is a really big company. There are three different brands within Nike Inc.: Nike, Jordan and Converse. Nike also has a variety of different functional areas from innovation, to marketing, to our Community Impact group, to Air manufacturing, to Valiant Labs. And offices all over the world. You truly can have an amazingly diverse career.

Nunez: You worked your way up at Nike and now serve as the Global GM of Jordan Women and Kid’s — what has been your biggest lesson learned through that journey? 

Perez: When I was working in Nike Mexico, our GM – a man named Cristian Corsi, had a sign in his office that said: “the desk is the worst place from where to see the world”.  I truly think that’s the best lesson anyone gave me. To be open to what’s happening outside your desk – with your team, with the other teams, with the organization, with the industry, with the consumer, with the world- is what truly makes you expand your mind and see opportunities. Personally, I think it also makes us better humans.

Nunez: What motivated you to set aside three hours of your time every week for mentorship? 

Perez: A lot of people have helped me out in journey at Nike. I had people that took their time to teach me, to give me projects, to support me, even to read my business school applications. I truly owe those people and feel I can do that by helping others out and paying it forward. Conducting mentorship meetings at determined hours of the week helps me keep control of my caledar and be centered before meeting people so that I can focus on the person I am speaking with and not veer off from the conversation or think about my to do list.

Continue onto Forbes to read the complete article.

Alex Rodriguez: From Baseball Star to Business Supernova

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MLB player Alex Rodriguez attends the 2017 Breakthrough Prize at NASA Ames Research Center on December 4, 2016 in Mountain View, California. (Photo by Kimberly White/Getty Images for Breakthrough Prize)

By Brady Rhoades

Did you know that Hispanics contribute $1 trillion to the economy every year?

Two years into his second career as a business executive and baseball analyst, Alex Rodriguez—always a student, always a numbers cruncher—knows all too well.

And he’s looking ahead.

“I think… we should be having really smart conversations on how to double that number,” he said.

Rodriguez was one of the greatest players in Major League Baseball history, finishing his career with 696 dingers and winning a World Series with the fabled New York Yankees, but this is A-Rod 2.0.

Owner and CEO of A-Rod Corp. Investor. The first Hispanic to swim with the big fish on Shark Tank.

Rodriguez has gone from baseball star to business supernova.

“When people think about my career, they think about the championships, the RBIs, the home runs, but what they don’t realize is that I’m fifth all-time in striking out, so that means I have a PhD in failing,” Rodriguez, 43, said. “But I also have a master’s in getting back up and that’s what America is all about: getting back up, not getting defined by your mistakes. That’s what I try to push and encourage.”

Rodriguez, the father of two daughters, started A-Rod Corp, a private holding company with multiple businesses in the United States and Latin America, when he was 26. His motivation? “Fear.” He’d already seen too many players go broke.

His first investment was in a type of infrastructure he knew all about from his modest childhood: rental properties.

New York Yankees vs New York Mets -
New York Yankees batter Alex Rodriguez reacts after striking out at Shea Stadium, Saturday, May 19, 2006, in Flushing, New York. The Yankees lost 7-6. (Photo by Jim Rogash/WireImage)

“We find ’em, we vet ’em, we underwrite ’em, we close ’em, we manage ’em, and then we rehab ’em,” he said. “We buy in secondary markets where job growth is growing. Millennials don’t want to own a house. They want to own an app. The last five or six years have been very healthy in the multifamily apartment sector.”

Today, A-Rod Corp owns or manages about 20,000 properties in 12 states and has branched out to fitness centers and automotive dealerships. The man who made hundreds of millions in his playing days also invests in Google, Amazon, Facebook, Berkshire Hathaway, JPMorgan Chase and Bank of America, among others.

He espoused his investing strategy on his first appearance as a guest judge on Shark Tank.

“I always invest in jockeys, not horses, because business—like sports—is just about people and I always tell people that I want entrepreneurs and partners with a PhD, not from Harvard or Yale, which is nice, too, but I mean poor, hungry and driven. I want entrepreneurs that are scrappy, that are gritty, and that can think outside the box, and that are winning players.”

Rodriguez retired from Major League Baseball after the 2016 season, and after Sports Illustrated named him one of the 30 most influential Hispanics in sports. The shortstop/third baseman won three MVP awards, was named to 14 all-star teams, and knocked out 3,115 hits in a 22-year career.

He was known for putting up staggering numbers; he was also revered as a student of the game.

He had been in business for years while he played for Seattle, Texas, and New York. He even took marketing classes at the University of Miami and value investing at Columbia University.

Now, it was time to do a deep dive into business. Rodriguez did what he’d done in sports: stepped into circles of greatness.

He asked questions. He listened.

His mentors include Lennar CEO Stuart Miller, JPMorgan Asset Management CEO Mary Erdoes, billionaire Warren Buffett, and Chicago White Sox owner Jerry Reinsdorf, who once said Rodriguez’ most impressive quality was “incessant curiosity.”

Rodriguez has never forgotten—and always applied—a simple lesson about business he received from Buffett: Never personally guarantee any debt and never hold too much cash, but rather put your money in great businesses.

Buffett also taught him that you can be a great businessman and a great guy.

“Always be a gentleman,” Buffett told him.

ALEX RODRIGUEZ, BARBARA CORCORAN, MARK CUBAN
SHARK TANK -“Episode 901” – Sharks include; Alex Rodriguez, Barbara Corcoran and Mark Cuban. Photo: ABC/EDDY CHEN

“That was simple, but it was genius,” Rodriguez said.

Rodriguez first appeared on Shark Tank in 2017 and is returning as a guest judge for its tenth season.

As usual, he looked like a natural, as if he’d been swimming in those waters all his life. Truth be told, his success is a result of hard work and preparation.

He says starring on the show with the likes of Mark Cuban, Daymond John, and Lori Greiner is a thrill.

“Of course, being the first Hispanic on Shark Tank is something to be really proud of,” he said.

In one of his investment victories, Rodriguez teamed up with Cuban to invest $150,000—for a 15 percent stake—in an Ice Shaker business, which sells insulated bottles that are an upscale version of plastic cups used to mix up protein shakes.

Chris Gronkowski—brother of famous New England Patriot Rob—said Ice Shaker sold about $80,000 worth of shakers in the first few months after he, Rob, and his three other brothers appeared on Shark Tank.

Rodriguez has stayed involved in baseball, honing his skills as a broadcaster for FOX before ESPN named him their lead analyst in early 2018. During his playing days, Rodriguez was versatile enough to switch from shortstop to third base when he joined the Yankees. As a broadcaster, he seamlessly goes from color commentator during games to studio analyst.

“It’s an exciting time in baseball and now I get that front row seat to tell that the story,” Rodriguez said.

Rodriguez has proved to be studied, insightful, and articulate in his off-the-field role. Listen to him for ten minutes and you’re bound to learn something about the national pastime. Recently, in a studio appearance on the morning sports show Get Up!, Rodriguez named the five greatest hitters he’d ever seen.

His take went viral. Many agreed. Many disagreed. Nobody questioned his baseball acumen, or his reasoned arguments, however.

For Rodriguez, life is never business as usual. There’s parenting, and there’s giving back to the community.

Rodriguez has spearheaded the Alex Rodriguez All-Stars in Education Scholars, offering hundreds

Alex Rodriguez on the phone doing business
NEW YORK, NY – SEPTEMBER 11: Baseball player Alex Rodriguez attends the annual Charity Day. (Photo by Mike McGregor/Getty Images for Cantor Fitzgerald)

of thousands in scholarship money to those determined to be the first in their families to earn a college degree.

He also premiered a TV show called Back in the Game earlier this year, designed to help athletes who are down on their luck, financially speaking. His co-star? Former NFL great and current TV superstar Michael Strahan.

“Michael and I, something we’re really passionate about is taking athletes who have run into some bad luck … [and] lend a helping hand and hopefully they can get back on their feet,” Rodriguez said. “If you look at the data, they suggest that a lot of our players are going bankrupt way too soon. You make 90 percent of your money between age 20 to 30. Less than 5 percent of our guys in the major leagues have a college degree. What happens from age 30 to 80?”

Alex Rodriguez seems to have packed several lifetimes into his 43 years. And he’s come a long way from his early life as a child of Dominican immigrants who was raised by a single mother and had to move every 18 months “because the landlord would raise the rent.”

He was born in New York City and spent time in the Dominican Republic and Miami, Florida. He has never forgotten his Hispanic roots.

In 2005, amid confusion about his ethnicity, Rodriguez stated: “I want to say it out loud. I am Dominican.”

He has gone the extra mile to help Dominican baseball players thrive in “The Show.”

When Puerto Rico was devastated by Hurricane Maria in 2017, he and Jennifer Lopez visited the country and raised more than $30 million to help victims and rebuild infrastructure.

His mission is to improve financial literacy among Hispanics and athletes in general.

What comes next for A-Rod?

If past is prologue, as Shakespeare said, he’ll surprise us with yet more accomplishments.

If humility is wisdom, as Proverbs says, he’ll continue to grow wiser, because he’s got two secret weapons named Ella and Natasha.

“My girls are great at making fun of dad,” he laughed. “They’re never impressed with anything I do. I love that.”

 

Four Companies That Are Getting Diversity & Inclusion Right – And How They’re Doing It

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Not that long ago, Diversity & Inclusion was viewed as a sort of “icing on the cake” issue – companies knew that having a team dedicated to these issues was a good thing to have, but not totally necessary to the bottom line.

Thankfully, that viewpoint has shifted over the past few years, as more and more data is showing that diversity and inclusion is actually correlated to value creation and a company’s profitability.

Therefore, companies are realizing (some more quickly than others) that focusing on total societal impact is fundamental to driving long-term financial success. But how do we measure total societal impact? What factors do we take into account, and how do we quantify and measure that data? One approach to tackling this problem has come from Thomson Reuters, who recently released its 2018 list of the Top 100 Most Diverse and Inclusive Organizations Globally.

The team behind the annual D&I list looks at more than 7,000 companies across the globe and ranks them according to how they’re doing based on environmental, social and governance data spread across four key pillars: Diversity, Inclusion, People Development and News Controversy. Companies that score the highest across all measures are awarded a spot on the list.

It’s not easy to become a leader in Diversity & Inclusion, but it’s well-worth trying. Many companies who have invested in D&I practices over the years have seen significant growth and financial gains as a result. Here are four of the top leaders in D&I, as well as an overview of what they’ve been doing right over the past few years to help them gain this ranking.

Accenture PLC: In 2017 alone, Accenture added 1,800 employees of diverse backgrounds, up from approximately 1,000 in 2016, and increased the number of women in their workforce from 36 to 37%, with a goal of hitting 40% by 2020. The company also hired 750 veterans and military spouses, bringing them halfway to their goal of hiring 5,000 by 2020.

Medtronic PLC: Medtronic has made an effort to develop a series of robust diversity networks and employee resource groups for their employees across the globe. Their networks include the African Descent Network, Asian Descent Network Hispanic Descent Network and the Medtronic Women’s Network. They also have 12 Employee Resource Groups (ERGs), which are built to engage employees around shared interests and affinities.

Diageo PLC: In addition to boasting 50% female representation on their board and 40% on their executive committee, Diageo has also set goals of hitting 35% female representation on their senior leadership team by 2020, with a goal of 40% by 2025. They’ve also launched Plan W, a program that’s part of Diageo’s 2020 sustainability and responsibility targets which aims to build thriving communities by empowering women. As of 2017, Plan W has empowered over 315,000 women through learning, and indirectly impacted more than 1,700,000 people and is building thriving communities across 17 countries.

Gap Inc: In addition to business resource groups and advisory boards designed to provide opportunities for cross-cultural learning, mentoring and relationship building among employees, they’ve also launched ASCEND, a program devoted to developing an inclusive, diverse workforce and a pipeline of future leaders. ASCEND is designed to help minority leaders realize their potential and achieve their career aspirations through mentorship, building opportunity and individual capability building.

Continue on to Forbes.com to read the complete article.