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SEPTEMBER 2015 SFBWMAG.COM 7.95 Steven Sadaka Tapping top talent at Steven Douglas Associates Committed To South Florida. Connected To The World. Realizing Potential Delivering Results. Our commercial real estate professionals provide transaction management financing and advisory services for financial institutions and private investors. Through a disciplined process we secure stabilize and restructure operations unlocking value through recapitalization or disposition. Utilizing NAI Global s vast network of local expertise research and valuation services NAI Merin Hunter Codman offers investors global asset strategies tailored to local markets. Landlord Representation Tenant Representation Corporate Services Strategic Advisory Investment Sales Financing Property Management Construction Management Development Services Receivership & Distressed Asset Services Ofce Retail Industrial Multifamily Land West Palm Beach 561 471 8000 www.mhcreal.com Boca Raton 561 394 5200 Relentlessly pursue the client s goal but never rest in the glory. Jordan Zimmerman The number one advertising agency in the world in driving client profitability. 954.644.4000 zadv.com www.sfbwmag.com AUGUST 2015 3 4 AUGUST 2015 www.sfbwmag.com Touchpad technology. Launchpad performance. Introducing the All-New 2015 Mercedes-Benz C Class. The 2015 C-Class features a more powerful efficient engine backed by an available AIRMATIC suspension that allows the driver to choose between a Sport or Comfort ride. Test-drive it now at 6 South Florida Mercedes-Benz retailers. 1-800-MERCEDES MercedesFLA.com www.sfbwmag.com AUGUST 2015 5 TABLE OF CONTENTS 12 SPACES Hyde Midtown Suites & Residences 58 WEALTH 24 ENTREPRENEURS 28 INNOVATION 32 RETAIL Beyond wills Smart estate planning delivers for decades Entrepreneur talks about life after being on Shark Tank 62 COMMERCIAL Quarterly report Rebound at hand REAL ESTATE QVC founder teams up with salon owner on customer hair care 66 SFBW AGENDA 67 BUSINESS TIPS Some tweet tips Transworld Business Brokers expands and an Evening in Paris Plaza s improvements tenants create a block party of fitness and fun 34 TECHNOLOGY Japan s Sato sets up a global innovation hub in South Florida 70 TECH HUB Customer service reimagined 40 HOT SPOTS FOR 46 RESIDENTIAL 72 SALES STRATEGIES Avoiding self sabotage Delray Beach America s Most Fun Small Town YOUR BUSINESS 74 BEHIND THE MIC AND PROFITS Tips from Mr. Social Media 305 Mostly modern and more A look at upscale single-family homes 76 PEOPLE PASSION The secret sauce of relationships 52 HEALTH CARE 56 BANKING Genomic testing shows results in guiding cancer treatments 78 THE FAMILY OFFICE How much is too much 80 COMPETITIVE EDGE Managing your environment Sabadell United President Dwight Hill expects more aggressive growth 82 HISTORY VIEWPOINT Cuba past and future 18 6 It all adds up for Steven Sadaka COVER STORY AUGUST 2015 www.sfbwmag.com No time for technology problems One simple solution. Our primary focus is utilizing technology to increase overall productivity and decrease capital expenditure. Quantified IT s success originates from listening to our clients analyzing their needs and producing long term solutions. These success principles combined with immediate response have afforded Quantified IT a 99 percent client retention rate. CIO Consulting. Private Cloud. Managed Services. Vendor Management. quantifiedIT.com 1-800-365-0953 LETTER FROM THE EDITOR Bridging the digital divide Powering your bottom line right solution. right service. At Any time. 1-800-385-3187 Editor-in-Chief Kevin Gale the Internet but the figure drops to 25 percent for low-income seniors Cohen says. Cohen says that the business community is very engaged in the digital divide issue. After a talk at the Delaware State Chamber of Commerce he received over 50 emails of support from business leaders. Dr. Robert Avossa superintendent of Palm Beach County Schools is supportive of the program because he was familiar with it as school superintendent in Fulton County Georgia Cohen says. Last year Comcast announced a partnership with the Overtown Youth Center in Miami which was founded by former Miami Heat star Alonzo Mourning. Patrick Franklin president and CEO of the Urban League of Palm Beach County is supporting the program by working with Comcast on the pilot program at a senior citizen center. Want to help out Visit internetessentials.com and click on the Become a Partner button at the bottom. lll I want to end this column with a personal note of thanks to our readers advertisers and sponsors. It seems like we just started SFBW but this issue marks our one-year anniversary. It has been very gratifying to see such positive feedback about our publication. Chairman and CEO Gary Press and the entire SFBW and Lifestyle Media Group team would like to thank all of you for your support. Have feedback Email me at kgale sfbwmag. com or call 954-377-9566. www.okgenerators.com Here s a stunning fact about today s hyperconnected world An estimated 30 percent of Americans aren t connected to the Internet. This digital divide has a major impact on education and ultimately developing our workforce. I was happy to learn that Comcast is addressing the issue with its Internet Essentials program. The program is designed for homes with children in the National School Lunch Program and makes high-speed Internet available for 9.95 a month plus tax a desktop or laptop with Microsoft Office costs them only 149.99. The program currently connects more than 500 000 low-income families to the Internet and involves a network of 1 500 volunteers. Comcast Executive Vice President David L. Cohen who is based in the corporation s Philadelphia headquarters was recently in West Palm Beach to expand Internet Essentials with a pilot program to help low-income seniors. Among high-income seniors 75 percent are connected to Kevin Gale 8 September 2015 www.sfbwmag.com A Global Force in the Information Technology Arena We are a global company with 100 Years of combined experience placing IT professionals ALL while experiencing 28 quarters of consecutive growth. Our services of staff augmentation contract to hire direct hire and retained search will help you attain your business goals. Ask us about our Resource Concierge Program 6001 Broken Sound Pky. Suite 506 Boca Raton FL 33487 561-912-9363 main office info atlanticpartnerscorp.com www.atlanticpartnerscorp.com Meet Some of Our clients Blue Cross Blue Shield WebMD Guardian Citigroup TD Ameritrade Morgan Stanley Avon Weight Watchers Gary Press gpress sfbwmag.com EDITOR-IN-CHIEF AND SENIOR VICE PRESIDENT OF STRATEGY Kevin Gale kgale sfbwmag.com ASSOCIATE EDITOR Richard Shellene rshellene sfbwmag.com CONTRIBUTING EDITOR Leslie Kraft Burke COPY EDITOR Sherri Balefsky CHAIRMAN AND PUBLISHER Creative CREATIVE DIRECTOR ART DIRECTORS Melanie Smit Alexander Hernandez Frank Papandrea Alisha Riddle Writers CONTRIBUTING WRITERS Beverly Barna Madison Belfour Angela Caraway-Carlton Chris Fleck Jim Fried Steve Garber Linda Janasz Julie Kay Darcie Lunsford Julie Neitzel Greta Schultz Photographers Downtown Photo Fort Lauderdale Miami News HistoryMiami Archives & Research Center Larry Wood Vice President of Development JILL HOROWITZ jhorowitz sfbwmag.com credmond sfbwmag.com gscott sfbwmag.com JAMES CONSTANTINE jconstantine sfbwmag.com PETER EVANS pevans sfbwmag.com TANISHAL HARRIS tharris sfbwmag.com Market Directors GAIL SCOTT CHRISTINEREDMOND DIRECTOR OF OPERATIONS & EVENTS MARKETING MANAGER Danielle Tarrant dtarrant sfbwmag.com Adina Arhire aarhire sfbwmag.com Editorial Advisory Board Marc Brotman Brotman Nusbaum Ibrahim Founder and Partner Bob Birdsong OK Generators President Rick Case Rick Case Automotive Group Owner Monroe Gang Atlantic Partners CEO Gerald Greenspoon Greenspoon Marder Co-managing Director Michael Kaufman Kaufman Lynn Construction Founder President and CEO Michael Keeby Brown & Brown of Florida Executive Vice President Jeremy Larkin NAI Miami President Alan Levan BBX Capital Chairman and CEO Gerry Litrento Bank United Senior Executive Vice President Steven Mariano SunCoast Holdings Chairman and CEO Neil Merin Merin Hunter Codman Chairman Roy Oppenheim Oppenheim Law Co-founder and Senior Partner Ed Pozzuoli Tripp Scott President Chris Roberts Lexus of Kendall President Ron Shuffield EWM President Terry Stiles Stiles Corp. Chairman and CEO Thomas te Riele TD Bank South Florida Market President Mark Trowbridge Coral Gables Chamber of Commerce President and CEO Jordan Zimmerman Zimmerman Partners Advertising Chairman and CEO SFBW Magazine 3511 W. COMMERCIAL BLVD. SUITE 200 FORT LAUDERDALE FLORIDA 33309 954.377.9470 FAX 954.617.9418 WWW.SFBWMAG.COM 2015 SFBW magazine is published by Lifestyle Media Group all rights reserved. SFBW is a monthly advertising magazine. All contents are protected by copyright and may not be reproduced without written consent from the publisher. The advertiser is solely responsible for ad content and holds publisher harmless from any error. You earned it we protect it For more than 75 years Brown & Brown has met the needs of the mass a uent community. Signi cant personal assets and wealth require a higher level of attention o en with unique coverage requirements not available on standard insurance policies. 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Amenities in the building which is designed by Arquitectonica include a seventh-floor pool terrace and tennis court with views of Biscayne Bay and Miami s skyline access to the Hyde Beach Club a spa and fitness center meeting space premier hotel-style concierge services a children s play room a private media center and chic food and beverage outlets. Created with tech-minded culturally fluent young professionals in mind Hyde Midtown s concept is a collaboration of hospitality group sbe s Hyde brand amenities and design by Rockwell Group whose impressive credits include the Dolby Theater in Los Angeles the Architectural Digest Greenroom at the 2014 Oscars and Nobu restaurants worldwide. Rockwell Group is designing the project s lobby amenity floors elevator corridors and guest suites. Inspired by the bold irreverent style of the art galleries and hyper-luxurious retail shops that surround the new project Rockwell Group chose a palette of neutral materials with small pops of color to achieve an unfussy yet luxurious and sophisticated ambience. Hyde Midtown is uniquely positioned within Miami s Design District Wynwood and Midtown three emerging neighborhoods that are burgeoning centers of art design and culture says David Rockwell founder and president of Rockwell Group. We felt it was important that the public spaces and guest rooms reflect their unique local surroundings so our design concept is based on the notion of the new luxury an eclectic edgy mix of raw and finished materials contrasting colors and handcrafted design elements. The lobby interior is based on an art hotel concept with concrete flooring exposed concrete ceilings and blackened metalwork throughout. A condo reception desk clad in American white oak a white grand piano www.sfbwmag.com September 2015 13 SPACES The rooftop bar and an interactive geometric pattern projected onto the ceiling are a nod to Miami s art deco architecture. The lobby walls will feature customdesigned metal mesh and blackenedsteel display ledges to showcase contemporary artworks from the collection of The Related Group s chairman and CEO Jorge P rez. Like the lobby the rooftop areas will emphasize controlled neutral finishes. Blackened metal pergolas will include succulent-filled garden beds and built-in bird-bath-style tables. Top-mounted plantings will grow across a blackened-steel canopy above the outdoor island bar and will stretch down toward the teak bar top with its blue-glazed Portuguese tile accents. The guest rooms are positioned across six floors featuring split living and sleeping areas separated by American white oak barn doors. Custom headboards upholstered in black cotton with yellow leather accents will set off the bedrooms. Concrete flooring and exposed concrete ceilings extend throughout finished with custom carpets and archival prints by Brooklyn artist Samantha French. And finally Brooklyn-based design firm Uhuru will outfit the custom kitchen areas with islands for eating and working. Rockwell Group s designs sbe s incredible amenities and Midtown s proximity to the cultural epicenter of Miami come together to make Hyde Midtown a project befitting of Miami s new status as a global metropolis says Gil Dezer president of Dezer Development. Carlos Rosso president of condominium development at The Related Group says Much like the boroughs of New York City each of Miami s neighborhoods is developing its own unique personality. Rockwell s striking designs and appreciation for the surrounding cityscape are not only giving the district its signature vibe but they are also making the Hyde brand synonymous with the Midtown district. The business center An example of a living room 14 September 2015 www.sfbwmag.com ATHENA Award Celebration Supporting Honoring and Developing Women Leaders 26th Annual ATHENA Awards Luncheon Friday October 9 2015 11 30 a.m. The Kravis Center Cohen Pavilion 701 Okeechobee Blvd West Palm Beach FL 33401 PRESENTED BY REGISTRATION Early Registration due by - September 30 Member 80 Non Member 100 Registration After September 30 Member 90 Non Member 110 Register at www.palmbeaches.org SPONSORS For more information contact Jamie Walton Director of Special Events 561-833-3799 jwalton palmbeaches.org palmbeaches.org www.sfbwmag.com AUGUST 2015 15 COLLECT SMARTER. Ditch the blanket approach. THE FINE ART OF HANDLING FINE ART For specialized storage and shipping services trust RoboVault. 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Sadaka who is chairman and CEO has been able to accomplish that by setting the right culture in an often dog-eat-dog industry and getting key members to join his team including President Matt Shore Division President Mark Viner Executive VP Steve Kalisher and CFO Sylvia Alvarez. After Sadaka graduated with top honors in accounting from the University of Florida he started doing government audit work at Price Waterhouse in Little Havana. A senior accountant didn t even talk to him for a couple of weeks. He quit in four months. I was the worst accountant at Price Waterhouse Sadaka quips. In the precomputer era he was bored out of his mind doing spreadsheets by hand. He went on to Laventhol & Horwath and taught tennis too. After a year at age 22 he d had enough of accounting. I went to a headhunter to look for a job. I mentioned my interest in dealing with people so he offered me a job to place CPAs Sadaka recalls. He gave me a telephone book and said Go find clients I had no sales experience. Moreover he considered himself a shy bookworm when he was growing up. He started taking clients to play golf and out to dinner on Friday and Saturday nights. Now it s natural. I like to work with people. I love to solve problems says Sadaka who is known for his sense of humor by those who know him well. Sadaka developed a lucrative niche recruiting accounting personnel for banks in the days when Southeast Bank Centrust AmeriFirst and American Savings were big names in South Florida. When he was 25 Sadaka started to wonder why he should be giving away half his commissions just for getting a desk and a phone. So he started his own firm using his middle name as the firm s last name. Was it risky I didn t know any better Sadaka says. But I also had established some very loyal clients. He added a recruiter to his firm at six months and started diversifying into other industries securing Ryder System Burger King and American Express as clients. Banks asked him if he could find information technology help so Sadaka expanded into those lines. He found Kalisher who had his own IT recruiting firm. Steven Douglas was profitable its first year and has been profitable every year since except in 2009 when it broke even during the recession. Steven Douglas has picked up a lot of accolades along the way including making Inc. magazine s FastestGrowing Companies list from 2012 to 2014 the South Florida Business Journal s list of Best Places to Work in 2009 2010 and 2014 a Business of the Year Award from the Business Journal in 2008 and 2014 and the Good to Great Award from the Greater Miami Chamber of Commerce in 2010. About nine years ago when the company was doing about 4.5 million in revenue a couple of key steps helped Sadaka further accelerate its growth. He started taking classes from a course called Strategic Coach which is offered by Dan Sullivan of Toronto who works with entrepreneurs on how to grow their business and enjoy their job. Sadaka embraced one of Sullivan s credos Don t work on your weaknesses. Discover what your strengths are. Spend more and more 20 September 2015 www.sfbwmag.com Some of the 230 Steven Douglas associates gather at the company s headquarters in Sunrise Don t work on your weaknesses. Discover what your strengths are. Spend more and more time on your strengths. Build a team where your weaknesses are their strengths. time on your strengths. Build a team where your weaknesses are their strengths. Sadaka realized his strength was coaching and bringing in business. His next step was getting Shore and Viner to join his team. Sadaka wanted to expand the industries his company had for search and start placing interim help. Shore had spent 10 years with Spherion Corp. and was regional managing director for its professional services group in Florida. Viner was managing director at Resources Global Professionals and had spent five years as CFO of Dreams Inc. after starting his career as an auditor. Shore says he thought of Sadaka as a high-end competitor and admired him for his integrity and sense of fun. Sadaka pursued him but Shore says he kept telling him he couldn t afford him. www.sfbwmag.com September 2015 21 COVER STORY Steven Douglas Associates A snapshot of one of the nation s top boutique search and project resources firms Approach An eight-step Talent Acquisition Solution process trademarked by the company which aligns expectations with the market promotes accountability sets a timeline and involves clients in the process. Client Scope From startups and emerging middle-market businesses to Fortune 500 companies and private equity firms. Search Division Retained executive search and contingency search from professional staff to middle management. Fields include finance accounting wealth management information technology sales marketing operations human resources and health services. Interim and Project Services Division Provides experienced professionals on an as-needed basis. Fields include finance accounting information technology and human resources. Offices Sunrise New York Atlanta Tampa Orlando Minneapolis and Omaha. Website stevendouglas.com Steven Sadaka was able to accelerate growth with the addition of President Matt Shore Shore and Viner who were friends were well on the path to launching a business together but realized it would be a challenge to get financing and build all the back-office operations. Eventually Shore says he got together with Sadaka for dinner with their wives. We had a great dinner and twoand-a-half hours went by like nothing Shore says. We got in the car and as soon as the door closed my wife said Take the job. He decided that it was worth taking a short-term pay cut for a long-term gain. The big challenge came a couple of years later when the recession hit. We turned it into an opportunity Shore says. Many firms were laying people off and micromanaging them. We stuck to our culture. We pay people great and were able to attract some talent people that before wouldn t return our phone calls. People that were untouchable. Sadaka and Shore helped build the company culture by giving back to the community. In 2010 Sadaka launched the Read to Succeed initiative which has raised 1 million for the Jason Taylor Foundation s literacy program for students. In 2014 Shore was named chairman of United Way of Broward County. That same year he also helped a friend build a 6 000-square-foot cigar bar in Weston called Smoke on the Water which is also a site for charity fundraisers. Three years ago with the recession fading Steven Douglas moved to a new home in Lakeshore Plaza near Sawgrass Mills mall. The firm recently added 3 500 square feet to bring it up to 10 000 square feet total. Today Steven Douglas has about 230 people on its payroll including 50 full-time recruiters and 185 on its project and services team. For someone who decided not to be an accountant Steven Sadaka s numbers are adding up pretty well. 22 September 2015 AUGUST 2015 www.sfbwmag.com www.sfbwmag.com Build your career with a company focused on success. Yours. At Northwestern Mutual partnership is fundamental to personal and financial success. As a financial representative you ll get a balance of disciplined guidance with the freedom to build your practice and take advantage of virtually unlimited growth potential. Who s helping you build your financial future M. Kevin Lawhon CLU Managing Partner (954) 717-5718 ftlauderdale.nm.com 05-3061 2015 Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company Milwaukee WI (NM) (life and disability insurance annuities) and its subsidiaries. Northwestern Mutual Investment Services LLC (NMIS) (securities) a subsidiary of NM broker-dealer registered investment adviser and member of FINRA and SIPC. Michael Kevin Lawhon General Agent(s) of NM. Managing Partners are not in legal partnership with each other NM or its affiliates. Michael Kevin Lawhon Registered Representative(s) and Investment Advisor Representative(s) of NMIS. NCAA is a trademark of the National Collegiate Athletic Association. www.sfbwmag.com September 2015 23 ENTREPRENEURS ENTREPRENEURS Entrepreneur talks about life after Shark Tank BY MADISON BELFOUR It all started with a little girl and her stuffed animals. Her imagination and creativity sparked an idea that would turn itself into a successful business and a man s passion. In fall 2014 Alex Furmansky of Palm Beach was featured on an episode of the reality television show Shark Tank which allowed him to promote his business Budsies to the world. Budsies takes pictures that kids draw and turns them into real-life stuffed animals. I had the pleasure of watching my little sister grow up and she loved her stuffed animals Furmansky says. One day I asked myself How can I combine her creativity with her love of stuffed animals Furmansky went into the tank asking the sharks for a 100 000 investment for a 5 percent equity in his company. Kevin O Leary and Daymond John took the bait offering him 100 000 for a 50 percent and 40 percent stake respectively. After hearing the offers that were placed in front of him Furmansky felt he had a simple choice to walk away. Their offers weren t even close he says. They were grossly undervalued and I know our company is worth so much more. Both O Leary and John wanted to raise the price of a Budsie from 69 (current retail price according to Budsies.com) to 249 a ridiculous sum in Furmansky s mind. To me there is a lot more to the business side of things. Some people just don t understand how connected people are with their stuffed animals Furmansky says. When the Shark Tank episode aired Furmansky had only sold about 2 000 Budsies. But recently that number has increased to more than 10 000. The company has also launched Selfies which turn 24 September 2015 www.sfbwmag.com www.sfbwmag.com September 2015 25 ENTREPRENEURS Alex Furmansky holds an example of how a child s drawing was turned into a stuffed animal Alex Furmansky Current Roles made stuffed animals Budsies Founder of company that brings children s artwork to life through customSparkology President and founder of invitation-only community for young professional singles AutoPin Founder of app that s like About.me but for cars Highlights OpenPeak Director of Business Development 2009-2011 Evercore Partners Analyst 2007-2009 Education Bachelor s from the Wharton School of the University of Pennsylvania any human photo into a plush doll and is getting ready to launch Petsies to do the same thing for pets. Although Furmansky decided not to make a deal with either O Leary or John he feels as though he got the best of both worlds. The funding and publicity that Budsies received after the show aired has helped him increase his output and lower his turn-around time from four weeks to two weeks. Being on Shark Tank is no easy process. Furmansky says that it took him 18 months to even be considered for the show from his first application to the actual taping of the episode. There is no guarantee that after you ve taped an episode that it will actually air but Furmansky came up with some tips to help future entrepreneurs have their tank time. Perhaps the hardest thing about getting on the show he says is having a consumer-based product in which the sharks will want to invest. Then the entrepreneur is tasked with making his or her company or product stand out from all the other thousands of applicants. They intentionally make it difficult to get on the show Furmansky says. That way they can see who is willing to put in the effort for their company. Furmansky believes that a good way for entrepreneurs to practice their pitches for Shark Tank is to actually go and pitch their ideas to investors. Many cities across the country hold pitch nights where entrepreneurs share their ideas with a panel of judges who give immediate feedback about whether or not they would invest in the company or product. Two years have passed since Furmansky began his journey to Shark Tank and he couldn t be happier with the results. Everything is difficult about going into business for yourself he says. But this This was fun. 26 September 2015 www.sfbwmag.com The Details Truly Matter To Us Detail 1 Our clients success. At Kaufman Lynn Construction we consistently deliver superior construction projects by relentlessly advancing our client s vision beyond their expectations. Since 1989 Kaufman Lynn Construction has built exceptionally high quality buildings and long lasting client relationships throughout South Florida. Our primary focus has always been and will always be on client satisfaction. Allow Us To Cast YOUR Success....Permanently 561.361.6700 kaufmanlynn.com twitter.com KaufmanLynn facebook.com KaufmanLynnConstruction instagram.com KaufmanLynnConstruction Lic. CGC 021732 linkedin.com Company Kaufman-Lynn-Construction FEATURE The Next Big Thing Entrepreneur teams up with QVC founder to launch a custom hair care line BY BEVERLY BARNA When QVC founder and part-time Boca Raton resident Joseph Segel retired he didn t just plop down in the sand and call it a day. One question had him scratching his head How do you cap off an entrepreneurial track record that has seen the creation of more than 20 businesses in six decades Nearby in Delray Beach Jodi Dery was developing an answer. The owner of Cloud 10 salons in Delray Beach and Boca Raton hit upon the notion of catching the customization wave building on consumers preferences for products tailored to their personal tastes. She and Segel who was backing her in the salon soon developed ProfilePRO a series of bespoke hair care products formulated to produce the best results for each customer s specific needs. Once Segel and Dery created the system they had it refined by a team in Italy that s known for developing name-brand hair and skin care products. The formulas comprising top-quality ingredients free of sulfates and parabens were then tested and tweaked by Dery at her two South Florida salons and later shared with more than 3 000 licensed hair stylists in Pennsylvania. To get just the right product to suit their individual hair needs customers answer a series of questions on the company s website (profilepro.com) regarding their hair type texture behavior and scalp condition. They then get to choose their own scent and even customize the name that will appear on the bottles. We are delighted to introduce what we believe will become the most significant new hair care system in years Segel says. We re starting off with national distribution online and plan to expand within the next two years to England Canada Australia France Italy Germany Brazil India China and Japan and several additional countries soon thereafter. The company which has filed for a patent on the ProfilePRO process and is registering its trademark internationally starts with more than 100 expertly compounded formulas to serve people with just about every kind of hair. (A customized travel-size set is available at an introductory price of 10. Full-size bottles are priced between 19 and 29 each.) Jodi Dery in one of her Cloud 10 salons ProfilePRO is a privately owned independent company not affiliated with QVC but it does draw on the strengths of some QVC honchos. Its CEO is Harold Poliskin and its vice president of operations is Chuck Pulcini both of whom were part of the original team of QVC executives the vice president of marketing is Karen Adams also a QVC veteran. Two former QVC presidents Mike Boyd and Doug Briggs have agreed to serve on ProfilePRO s board of advisors. Segel has a storied history as a businessman having introduced the world not only to QVC but also to the 30 September 2015 www.sfbwmag.com I am delighted to have Cloud 10 be the only salon in the world to provide the 12 ProfilePRO core formulas over the counter. likes of The Franklin Mint and National Business Services & Development among others. As for Dery this is but the latest development for her business which started in 2013 as a single blow-dry bar in Delray. With about 1.5 million in investments the company has since grow into two award-winning full-service salons offering expert cuts organic color natural keratin hair extensions and makeup among other services. While there are no estimates yet regarding how much revenue the new line will generate revenues for the salons are expected to exceed 1 million this year. Having co-invented this innovative new system Dery says I am delighted to have Cloud 10 be the only salon in the world to provide the 12 ProfilePRO core formulas over the counter specially branded for my Boca Raton and Delray salons as Heavenly Hair Care. www.sfbwmag.com September 2015 31 People can spend the whole day here. They could take a fitness class in the morning go grocery shopping at Whole Foods have lunch at Piola enjoy the afternoon sunshine on the green space and then select fresh produce at the weekly farmer s market to take home for dinner. Federal Fitness If you re driving north on busy Federal Highway in Fort Lauderdale you can t miss a huge plaza anchored by Whole Foods Market and Dick s Sporting Goods. While it may seem like any other large commercial plaza if you take a closer look you may notice a unique theme emerging children moving and playing on an open green space yogis drenched in sweat carrying their mats from hot yoga 20-somethings going straight from barre class to the bar families hauling out bags of organic produce. This plaza is quickly building a foundation of fitness and wellness and a happening new hangout in Fort Lauderdale. Tucked inside the sprawling plaza are four (yes four) different boutique fitness studios offering pretty much every type of popular a la carte workout on the market. We ve focused a lot on wellness. We recently opened Orangetheory Fitness and Core Contour. They join Barkan Method Hot Yoga and Pure Barre already located in the center says Jami Passer managing director for EDENS the developer of the Union Planters Plaza. Our new retail partners are bringing entirely new concepts to the Fort Lauderdale market. Core Contour which offers the Lagree fitness method from A BLOCK PARTY OF FITNESS AND FUN BY ANGELA CARAWAY-CARLTON Core Contour owner Jen Capps lunging on the Megaformer Los Angeles is the latest spot to tone and tighten. Unlike other fast and furious workouts the motto here is the slower 32 September 2015 www.sfbwmag.com RETAIL you move the better your results. You ll be slowly planking lunging and lifting on the Megaformer (an amped-up Pilates machine) for a muscle-quivering 50 minutes. When we move slow we are effectively stimulating the slow-twitch muscle fibers that are responsible for burning fat and strengthening the body in areas we don t usually work says Jen Capps owner of Core Contour. If you do this two to three times a week you will see results in about a month or less she promises. Core Contour s next-door neighbor is Orangetheory Fitness. During this one-hour group workout you ll rotate between lightning-fast rounds of running on a treadmill rowing and weightlifting. Jackie Menapace the regional marketing coordinator for Orangetheory Fitness says Orangetheory is a high-impact class that can t be compared to any other workout. It s a heartrate based workout that monitors your 5-zone intervals during your session which isn t offered by any of the other studios. No matter which exercise routine you choose (or try them all) it s all about building a healthier community. People can spend the whole day here says Passer. They could take a fitness class in the morning go grocery shopping at Whole Foods have lunch at Piola enjoy the afternoon sunshine on the green space and then select fresh produce at the weekly farmer s market to take home for dinner. With all the studios within walking distance one might think it would create some not-so-friendly competition. Core Contour has a room full of Megaformers Not at all says Capps I always laugh when people say that because there s so much synergy between the four of us here. I m honored to be part of this. www.sfbwmag.com September 2015 33 34 September 2015 www.sfbwmag.com TECHNOLOGY IDeal Business Japan s Sato sets up an innovation hub in South Florida BY KEVIN GALE If you want to know how important radio frequency identification (RFID) technology is Mike Beedles can show you pretty quickly. The president of Sato Global Solutions (SGS) takes a cooler full of bags filled with fake blood and sticks it into a tunnel-like machine. Since each bag has an RFID tag an attached monitor can immediately list how many bags there are of each blood type. Another system can recognize who is opening a cabinet full of supplies and track what s going in and out. The PJM RFID Tunnel Reader far left can inventory blood bags in a cooler. A supply cabinet requires a card swipe to open. www.sfbwmag.com September 2015 35 TECHNOLOGY I want to expand our software business in North America because it is the biggest market in the world. I don t want to start from scratch. Sato Global Solutions is a leader in what are called auto-ID solutions which use software machinery and identifiers such as bar codes RFID tags and QR codes. This year Beedles and SGS set up a headquarters in downtown Fort Lauderdale which will be a cloud-based software development epicenter for Sato Holdings a 76-year-old Japanese company that s a pioneer in bar code and RFID technology. The company has a history of innovation that ranges from the next-in-line tickets used at deli counters to hand-held retail price labelers thermal bar code labels and print engines that put bar codes on products as they move through high-speed manufacturing lines. SGS not only provides products and software but its consultants provide total solutions that can involve equipment from a variety of vendors. The Fort Lauderdale headquarters has rooms that show scenarios for retailers warehouses and health care providers. The retail scenario uses a touch screen on the wall to show what garments a customer has taken into a dressing room. This could not only help with theft prevention but lead to better service if a customer wants a different style or size of a garment Beedles says. A lot of Sato Holdings early growth was tied to big Japanese manufacturers such as Toyota but it eventually expanded to Europe Australia and the United States. The company had a U.S. headquarters in Silicon Valley and moved to Charlotte North Carolina before announcing the Fort Lauderdale headquarters and the creation of SGS. Beedles became involved with Sato in 2007 when he was developing his third logistics technology company TrakIT which had applications for retail and health care his software would interface with Sato s devices. Beedles says Sato s CEO told him I have a vision and I think it aligns with your vision. I want to expand our software business in North America because it is the biggest market in the world. I don t want to start from scratch. Can you maybe talk to us about an acquisition Although cloud-based software is all the rage these days Beedles says he found it difficult in 2007 to get customers interested in his use of the concept. He reacted to Sato s interest by visiting 33 countries where it was operating. He realized Sato was involved in just about every industry because of its bar code technology. He agreed to a buyout and became director of integration and services and development at Sato America. Mike Beedles president of Sato Global Solutions has helped Japanese parent company Sato Holdings make acquisitions globally 36 September 2015 www.sfbwmag.com www.sfbwmag.com September 2015 37 A mock-up of a store at Sato Global Solutions shows a touch screen that can help track inventory and improve customer service The Sato Global Solutions team at its sleek new headquarters In 2008 Sato acquired a division of Checkpoint which gave it a manufacturing plant in suburban Chicago. It also has plants in Daytona Beach and Charlotte. Beedles who leads Sato s overall North American operations says he also helped Sato make a series of acquisitions from Brazil and Argentina to Russia and Australia. If you look at all the data this company captures around the world every day it s mind-boggling he says. After an extensive search for a new U.S. headquarters Sato chose Florida because it had the best incentive package. The company zeroed in on South Florida because about 65 Japanese companies already operate here and Latin America is one of Sato s fastest-growing regions. The company initially looked at locations in Coral Gables and the Blue Lagoon area next to Miami International Airport but Beedles says he struggled to find the type of creative environment inspired by his visit to Google s campus. He was living in Fort Lauderdale and a broker finally found the space at the 110 Tower which includes an expansive outdoor patio area. The interior has been transformed with the creation of a mezzanine floor. Sato invested 4 million and created 35 jobs. Beedles who has a background collaborating with MIT likes the response he has received from the business community and local colleges and universities. He says I think there is a gem here in South Florida that we could grow and really turn into the next Silicon Valley. Sato s History 1940 Sato Holdings is founded by Yo Sato to make machinery for processing bamboo rattan and palm. 1962 Sato invents a hand-held labeler that lets the company become a pioneer in price labeling. 1964 The company starts producing labels. 1981 The company develops the first thermal transfer bar code printer. 1987 Sato establishes a U.S. arm. 2003 Sato starts making RFID printers. 2015 Sato announces it will set up the global headquarters for Sato Global Solutions in Fort Lauderdale. www.sfbwmag.com September 2015 39 HOT SPOTS FOR YOUR BUSINESS DELRAY BEACH Destination Delray America s Most Fun Small Town is just one of the accolades earned by Delray Beach HOT SPOTS FOR YOUR BUSINESS Delray Beach An authentic and welcoming community for all BY MAYOR CARY GLICKSTEIN Delray Beach s unique sense of place while ever-changing offers a quaint charming and friendly spirit to both those who call it home and those that visit. Named America s Most Fun Small Town by the Travel Channel Rand McNally and USA Today and one of the Happiest Seaside Towns in America by Coastal Living magazine Delray Beach is a respite from the crowded fast-paced and sometimes impersonal world of South Florida. Delray Beach is a patchwork of pride and a place where opportunity belongs to those who embrace it. Our vibrant downtown is a favorite place to work play eat and shop and we re proud to be one of the region s top arts and cultural destinations and a preferred place for the next generation of creatives. We cherish and welcome the opportunity to evolve as evidenced by the more than 750 million in new office space and retail space restaurants residential buildings and hotel units currently under construction and being planned in downtown. And we greatly appreciate the investments along Federal Highway and Linton Boulevard. Delray Beach is a welcoming place where people who are new to the area are embraced and neighbors who have grown up here are treasured. It s also a place where working together is just our way. Whether it s how we improve our local schools through The Campaign for Grade-Level Reading or how we encourage development along Congress Avenue through a new task force it s what we do together that really matters. So if you re seeking a beautiful and friendly place to live raise your family and grow your business Delray Beach welcomes you like no other. Come see for yourself. Cary Glickstein Mayor of Delray Beach 42 September 2015 www.sfbwmag.com HOT SPOTS FOR YOUR BUSINESS Welcome to Delray Beach BY KAREN GRANGER Whether you re a longtime Floridian a visiting tourist a business stakeholder or you re considering relocating to Delray Beach we re delighted you re here. Delray Beach s popularity as an international hot spot continues to garner a great deal of attention. As a two-time recipient of the All-America City Award and named Most Fun Small Town in America (by the Travel Channel Rand McNally and USA Today) our city is quite unique. It s challenging to describe Delray Beach in one word people often say it has the charm of a small beach town yet the sophistication and offerings that much larger cities boast. Not only is our coastal city outlined by a pristine beach with sparkling waters we are the year-round home for over 300 bustling restaurants colorful galleries and exceptional boutiques. It s no wonder Coastal Living recently named Delray Beach on its list of Happiest Seaside Towns of America. Our walkable downtown is drawing young professionals and entrepreneurs of all ages. Creative business leaders appreciate the same lifestyle our tourists do. Imagine having the year-round ability to walk to work (sans coats) and then have the convenience of shops fitness centers spas and some of the finest restaurants in the country just steps away. Imagine connecting with other business owners at the corner coffee shop and having easy access to arts and culture. Oh and one more thing In Delray Beach you can dip your toes in the ocean any day of the year Our vibrant community hosts many of the region s outdoor festivals including The Delray Affair a 54-year-old tradition showcasing arts and crafts and businesses along beautiful Atlantic Avenue. A newer event the Wine and Seafood Festival draws thousands of people to the east side of town. The area continues to expand offering local residents and visitors a vast array of things to do to the west north and south of downtown. Our innovation corridor and several new commercial properties provide beautiful office space for those looking to move their businesses to Delray Beach. If we can be of help to you at the Greater Delray Beach Chamber of Commerce give us a call at 561.278.0424 check out our offices and visitors center at 140 NE First Street connect with us on Facebook or go to delraybeach.com for all the latest event news and information. Karen Granger President and CEO Greater Delray Beach Chamber of Commerce www.sfbwmag.com September 2015 43 HOT SPOTS FOR YOUR BUSINESS ECONOMY Downtown Delray Beach and Beyond BY LESLIE KRAFT BURKE Artist conceptions depict Atlantic Crossing a 200 million joint venture of CDS International Holdings and Edwards Companies. The project will include 82 luxury condos 261 apartments 83 000 square feet of Class A office space and 76 000 square feet of shops and restaurants. We re bullish on Delray s future. The city s vision has paid off with one of the most successful downtowns in the country. People now want to live and work here not just shop and dine out on the Avenue. We re confident that timing is right for the more than 200 million of private investment in Atlantic Crossing which will satisfy that demand. --Jeff Edwards President Edwards Companies Take a walk along Atlantic Avenue in east Delray Beach and you will find one of the most vibrant beachside communities in South Florida. Brimming with locals and tourists alike with approximately 120 restaurants and bars 50 retail stores 30 art galleries and 60 beauty and wellness spas it s easy to see why the area is so popular. The east area of downtown Delray Beach is about to undergo an impressive reawakening with the advent of Atlantic Crossing a 200 million mixed-use project under development by the joint venture partnership of CDS International Holdings and Edwards Companies. The project which is expected to complete its first phase in 2016 will feature 82 luxury condos 261 high-quality apartments 83 000 square feet of Class A office space and 76 000 square feet of shops and restaurants in six buildings that are primarily three and four stories. Atlantic Crossing will bridge downtown the beach and 44 September 2015 www.sfbwmag.com HOT SPOTS FOR YOUR BUSINESS ECONOMY Delray Beach Festivals and Events Delray Beach Wine & Seafood Festival (November 7-8) For its fourth year the festival produced by the Delray Beach Chamber of Commerce moves to a new location at Atlantic Avenue and State Road A1A. dbwineandseafood.com Shop Small Saturday (November) Atlantic Avenue focuses the month of November on small businesses and the holiday deals that are available. Delray Beach Garlic Festival (January 29-31) At this 17th-annual event you can enjoy all things garlic with dishes prepared by professional chefs. dbgarlicfest.com Delray s Fabulous Fashion Week (January dates TBD) Expect runway shows designer trunk shows styling tips beauty events shopping and more at this event organized by the Delray Beach Downtown Development Authority. downtowndelraybeach.com fashion-week Bacon & Bourbon Festival (March 18-19) Would you like a bacon ice cream sundae Bourbon and caramel sauce After a successful inaugural event expect more local chefs exploring the boundaries of new American cuisine and the farm-to-table movement. delraybaconandbourbonfest.com The Delray Affair (April 8-10) The Delray Beach Chamber of Commerce calls this the largest arts and crafts festival in the southeastern United States. It stretches 12 blocks along Atlantic Avenue and will celebrate its 54th year. delrayaffair.com Orchid Giveaway (April-May) Held during two weeks in late April early May the event is a draw for avid gardeners and more. Atlantic Avenue has turned into a major regional destination with an array of restaurants bars shops and galleries Veterans Park using green space. All of its parking will be underground creating an ample and inviting pedestrian experience flowing from Federal and Atlantic highways to Veterans Park accented by garden paths along scenic walkways outdoor seating and cascading garden pools. Focused on sustainability the project will provide the city s first green roof buildings a living green wall and buildings incorporating green building principles. The economic benefits of Atlantic Crossing which is estimated to take four years to complete are key for Delray Beach s future. The project Introduces Delray Beach s first Class A office space. Adds 2.65 million annually in tax revenues with a projected 6.1 million to be spent by new Atlantic Crossing residents. Adds 1 000 construction jobs ( 60 million in annual wages) and 600 permanent jobs ( 30 million in annual wages). There s also development in the South of Atlantic Area (SOFA) including The Related Group s SOFA 1 and 2 with 172 units which is expected to be completed in December. Other mixed-use residential and office construction projects are outlined in a brochure on downtowndelraybeach.com. Another project that s already had a major impact is Delray Marketplace located further west in Delray Beach right off Florida s Turnpike. The shopping dining and entertainment mecca features Frank Entertainment which has 10 movie screens and 16 lanes of bowling and plenty of popular retail stores and restaurants including several by South Florida restaurateur Burt Rapoport. Delray Marketplace also has a community amphitheater. www.sfbwmag.com September 2015 45 Mostly Modern and More Upscale single-family home trends are all about lifestyle BY LESLIE KRAFT BURKE RESIDENTIAL Architect Roney Mateu s concept for a home at Terra Group s Botaniko in Weston RESIDENTIAL FEATURE Below an interior at Macken Companies Beach House in Fort Lauderdale There s one m word that will make buyers of upscale single-family homes in South Florida run a mile in the opposite direction Mediterranean. But there s another m word for which they re willing to pay a premium modern. Just like buyers of homes priced from 10 million and up those in the market for homes priced between 1 million to 10 million are looking for properties with the most current style amenities and appointments. However they differ in where they want their homes to be located. Because most of these buyers have families a prime consideration is proximity to excellent schools both private and public says Amy Marcus Hollub vice president of Hollub Homes a builder of custom and spec homes that currently has residences for sale in Snapper Creek Lakes and Pinecrest in Miami-Dade and in St. Andrew s Country Club in Boca Raton. The company is also working on about 20 custom-home and large-scale renovation projects in Pinecrest Coral Gables Miami Beach Fort Lauderdale and Boca Raton. Newer homes as opposed to older ones move faster in the 1 million to 3 million range especially in Pinecrest even if they are priced higher per square foot says Adam Levy of The Levy Group Coldwell Banker Pinecrest who works primarily in the Pinecrest and Palmetto Bay areas of Miami-Dade. There has been a strong increase in new construction in the last three to four years with developers jumping in with both feet Levy notes. And both Levy and Hollub agree they re not building Mediterranean-style anymore. MODERN-ORGANIC ARRIVES Most homebuyers want a modern-organic style which is defined as having the same clean lines of ultramodern and modern but favors the use of natural materials like wood and warmer colors as opposed to a colder more stark style says Hollub who is also a Realtor with Avatar Real Estate Services. Modern but not hard-edged seems to be the warmer atmosphere families are looking for. The clean lines of modern design are evident in many upscale single-family home projects throughout South Florida. For example Macken Companies Beach House project in Fort Lauderdale s Dolphin Isles comprises four zerolot-line single-family homes. The company also recently broke ground on a new multifamily townhome project in downtown Fort Lauderdale s Above Macken Companies 616 Solar Isle Drive right a Schonbek lighting fixture at Capitol Lighting a tulip chair at Sklar Furnishings and a Cattelan Italia Spyder table at Sklar Furnishings 48 September 2015 www.sfbwmag.com www.sfbwmag.com September 2015 49 A Macken Companies home at 440 Royal Plaza Drive in the Las Olas Isles area of Fort Lauderdale 50 September 2015 www.sfbwmag.com A new residence from Hollub Homes in Pinecrest Colee Hammock that will be completed in 2016. Macken also acquired a second piece of prime real estate in Colee Hammock where it plans to build another luxury townhome project. In addition Macken acquired three premier waterfront lots off of Las Olas that it developed into luxury spec homes all with clean modern lines. New communities such as Terra Group s Botaniko Weston are also being planned with clean-lined architecture. The development a collection of 125 single-family homes on the former Bonaventure golf course will be designed by Chad Oppenheim and Roney Mateu with interiors by tennis star Venus Williams. NEW LIFESTYLES PROMPT CHANGES On the inside South Florida s new upscale single-family homes look different than in years past because families are living differently Hollub says. Most homes are two stories and many have elevators especially if the master bedroom is on the second floor. Master bedroom closets are huge and luxuriously appointed. Kitchens are showpieces to accommodate a lifestyle comfortable with entertaining featuring top-ofthe-line appliances. There are wine rooms media rooms and gyms however Hollub says these are sometimes traded out for children s playrooms and guest staff quarters. Garages are built to house at least three cars. Technology and security are of prime concern to buyers in this market. Music systems lighting and security are often controlled using an iPad and green technology is used wherever possible especially in outdoor areas. Outside nearly all of these homes have pools and outdoor kitchens surrounded by plenty of space for entertaining. Both outdoors and indoors lighting sets the atmosphere more than ever before. Modern fixtures are most popular but restored industrial and nautical styles are still often selected says Eric Lebersfeld president of Capitol Lighting in Boca Raton which has additional locations throughout South Florida. The use of LED has changed the landscape of how lighting is used in homes he says. The use of unusual shapes is popular with LED you don t see the bulb just the beauty of the fixture. He also notes that lighting is often used to separate rooms in homes with open floor plans and that recessed lighting in various rooms is often chosen as well. A softer gentler modern style is also the rage in home furnishings and appointments says Rick Howard president of Sklar Furnishings in Boca Raton. The style marries all kinds of materials together he says. You ll see leather and glass various lacquers and textures of fabric strong accent colors and the use of metals such as brass... And woods are coming back. This is a move away from stark hard contemporary materials. It emphasizes functionality and comfort a place where you can relax and enjoy. You want your home to be that. www.sfbwmag.com September 2015 51 HEALTH CARE An Answer to Cancer Genomic testing to help guide treatment shows results BY LESLIE KRAFT BURKE Christine Bray didn t have much hope for survival when she was diagnosed with ovarian cancer in 2010. She had even less optimism about her future as she underwent conventional cancer treatment over the next three years. The mother of two young children experienced several recurrences and by 2013 the cancer was widespread in multiple locations. There really wasn t much hope at that point. I already had a close call in 2011 and I didn t expect to make it through that summer says Bray now 36. My girls were nearly 1 and 2 years old when I was diagnosed and had seen me go through a lot as they got older. They were so sad that I couldn t do the things with them that other mothers could do. When a friend told Bray about Boca Raton-based Cancer Treatment Centers of America (CTCA) and its unique approach to helping patients with end-stage cancer she figured it was her last shot. At CTCA s Philadelphia facility Bray who lives in Virginia underwent advanced genomic testing an emerging diagnostic tool that enables physicians to evaluate possible treatment options that may not have been previously considered. Through the identification of the root genetic abnormality within a patient s cancer physicians can often prescribe more individualized and targeted treatment options. Based on the results of this testing CTCA doctors were able to customize a precise treatment program to target Bray s cancer and the results were much different from those of any treatment she had experienced. They were able to first shrink it and then maintain that gain she says. By October 2014 I was cancer-free and still am today. I truly feel like I have a second lease on life and so do my daughters who are now 6 and 8. I am so grateful and thankful that the doctors had another trick up their sleeve that could help me live. Christine Bray (right with her two daughters) didn t expect to make it through the summer of 2013 but she underwent advanced genomic testing at Cancer Treatment Centers of America and is now cancer-free 52 September 2015 www.sfbwmag.com www.sfbwmag.com September 2015 53 FEATURE HEALTH CARE Genomic testing to help strategize cancer treatment is now considered by much of the nation s medical community to be the future of cancer treatment. It s the tool many doctors say will turn a disease that is often fatal into one that is mostly chronic a huge step on the way to finding a cure. It s based on the concept of focusing on the DNA of an individual s cancer rather than in the organ in which it appears. The medical community in South Florida is embracing the concept with numerous programs similar to that of CTCA s new Centers for Advanced Individual Medicine a resource that provides advanced genomic testing to clinically qualified patients recommended by their physicians. CTCA offers the services to patients worldwide through its network Costs for genomic testing should be just a few hundred dollars in the next few years says Jeff Boyd Ph.D. (above) director of translational research and genomic medicine at Baptist Health South Florida s Miami Cancer Institute of hospitals in Atlanta Chicago Philadelphia Phoenix and Tulsa which specialize in treating patients fighting complex or advanced-stage cancer. The company offers an integrative approach that combines surgery radiation and chemotherapy with nutritional counseling naturopathic medicine mind-body therapy and spiritual support to enhance quality of life and minimize side effects during treatment. There are some types of cancer for which the use of genomic testing to inform treatment are routine says Dr. Maurie Markman president of medicine and science at CTCA. These include cancer of the lung and breasts and more recently melanoma. For others it s an evolving process we re learning more every day he says. The possibility of using advanced genomic There s almost no area [within cancer] that genomics can s help says Dr. Louise Morrell (right) medical director of the Morgan Pressel Center for Cancer Genetics at Boca Raton Regional Hospital s Lynn Cancer Institute 54 September 2015 www.sfbwmag.com Genomic testing is an important part of the conversation in treating cancer says Dr. Maurie Markman (right) president of medicine and science at Cancer Treatment Centers of America testing to influence therapy should be a part of any discussion about treatment options. It s an important part of the conversation. The technology used for genetic testing to determine the predisposition of specific types of cancer and for advanced genomic testing to inform treatment both derive from research in the federal government s Human Genome Project which was completed in 2003 says Jeff Boyd Ph.D. director of translational research and genomic medicine at Baptist Health South Florida s Miami Cancer Institute. Thanks to that research genomic testing can now be completed within a few hours for a cost of less than 1 000. COSTS OF TESTS EXPECTED TO DROP TO A FEW HUNDRED The time and costs for the test are still decreasing and we expect that it will cost just several hundred dollars within the next few years Boyd says. Insurers and other third-party payers embraced testing for prevention much more quickly than testing the DNA of cancer that already exists. But they are now moving more quickly toward that as successful outcomes are shown. Boyd recently joined the Miami Cancer Institute to set up a new facility dedicated to being a Cancer Center of Excellence mirroring the advances in genomic medicine and the services that can be provided as a result. Its target opening date is October 2016. Boca Raton Regional Hospital s Lynn Cancer Institute offers genetics testing and advanced genomic testing through programs at its Morgan Pressel Center for Cancer Genetics named for LPGA professional and Boca Raton native Morgan Pressel who lost her mother to breast cancer. Led by Dr. Louise Morrell the institute s medical director the center is conducting groundbreaking research in genomic testing as well as providing medical services. There s almost no area [within cancer] that genomics can t help. It s the key to why some people do well in treatment and how we can make a difference in outcomes. There are breakthroughs right now in pancreatic ovarian and breast cancer Morrell says noting that a more complex issue is when the best time is to run the test. The results may be different if you run the test at one point in time and again at another. Morrell and her team of physicians and researchers are currently part of clinical trials for a drug that may help treat lung cancer in patients who have a specific mutation in a gene causing it. Patients are coming to us from all over the world she says. We ve had a remarkable response in patients who have failed to respond to other treatments. The Sylvester Comprehensive Cancer Center at the University of Miami Miller School of Medicine recently began enrollment for the landmark precision medicine trial NCI-MATCH (Molecular Analysis for Therapy Choice) which seeks to determine whether targeted therapies will be effective in patients whose tumors have specific genetic abnormalities regardless of their cancer type. The study co-developed by the National Cancer Institute will incorporate more than 20 different study drugs or drug combinations each targeting a specific gene mutation instead of prescribing a drug based on the tumor location. Programs for genetic and genomic testing can also be found throughout South Florida at medical facilities such as the hospitals within the Broward Health system Cleveland Clinic s Center for Personalized Genetic Healthcare in Weston and Holy Cross Hospital s Michael & Dianne Bienes Comprehensive Cancer Center in Fort Lauderdale. Other hospitals such as St. Mary s Medical Center in West Palm Beach partner with cancer centers to offer testing and counseling programs. There has never been a time in medical history that has been as transformational for cancer treatment as right now says Boyd. We are closer than ever before to providing an effective standard of care for cancer that replaces www.sfbwmag.com September 2015 55 More Growth Ahead Dwight Hill gives insights into Sabadell United s outlook BY KEVIN GALE 56 AUGUST 2015 www.sfbwmag.com BANKING Sabadell United is on track to do 1 billion in new loans this year and looking at more acquisitions President Dwight Hill says. Over the last five years Sabadell United has emerged as a major force in Florida banking with organic growth and a series of mergers. It has 26 branches and 40 000 customers. The bank had a 7.8 million profit for the second quarter up from 7.1 million in the first quarter and assets hit 4.9 billion up from 4.7 billion. For three decades Hill played a key role as a senior executive at Sabadell United and its predecessors he was promoted to president in March. He also has a long history of community involvement that includes being chairman of the American Red Cross of Miami and of the development committee at Carrfour Supportive Housing and being on the boards of Friends of WLRN and the Florida Bankers Association. Sabadell United is part of Spain s Banco de Sabadell which reported a profit of 194.74 million in the second quarter up 53.7 percent from the previous year. In addition to Sabadell United Banco de Sabadell also has an international bank based in Miami. One reason Sabadell United can grow aggressively is its strong capitalization as indicated by a top five-star rating from Bauer Financial. One area the company is targeting is residential lending which can require educating customers and real estate agents. It was perceived by many of our international buyers that they couldn t get financing in the states that it was complicated and it was expensive Hill says. The bank is currently doing about 300 million in new residential loans with an average size of 1 million. Another part of Sabadell United s growth strategy is turning transactional relationships into broader relationships Hill says. The bank includes a private wealth practice that stems from the acquisition of Lydian Private Bank in 2011. Hill says that entrepreneurial clients with small- and medium-size businesses are another target for the bank. Amid all the questions about Latin America s economy the bank is bullish on Colombia Peru and Mexico. In early August Banco de Sabadell obtained a license for a freestanding bank in Mexico Hill says it would like to do so in Colombia and Peru as well. The biggest growth on the international side last year came from Venezuela Hill says. Most of the money didn t come from Venezuela directly but via other Latin American nations or financial institutions. He s hearing that most of the wealth has already left the country and there s less volume coming out now. Sabadell United is working on EB-5 investment products including those for immigrants from Brazil which faces political issues a lower currency and a drop in commodity prices. Hill says Political and economic instability in our Latin American neighbors can be very beneficial to South Florida. BUSINESS HAPPENS Very little gets done in business without connections to the right people. Helping business make connections is what we do at the Greater Miami Chamber of Commerce. For more than 100 years this Chamber has been the leader in South Florida when it comes to advancing issues growing jobs closing deals and building a better community. Focused on business excellence leadership industry and community growth international business and public policy the Greater Miami Chamber has the reach and connectivity to make a difference. WHERE GOOD Banco de Sabadell in South Florida 1990 Banco de Sabadell opens an agency office in Miami. 2007 Sabadell acquires Miamibased TransAtlantic Bank. 2008 Sabadell acquires BBVA International private banking business in Miami. 2010 Sabadell acquires Miamibased Mellon United National Bank. 2011 The renamed Sabadell United Bank acquires Palm Beach-based Lydian Private Bank to launch Sabadell Bank & Trust. 2012 Sabadell United becomes Florida s sixth-largest bank as measured by deposits. 2013 Sabadell United acquires Lloyds TSB Bank PLC s private banking business in Miami. 2014 Sabadell United acquires JGB Bank of Miami. www.MiamiChamber.com 305-350-7700 www.sfbwmag.com September 2015 57 Beyond Wills Smart Estate Planning Delivers for Decades BY LESLIE KRAFT BURKE 58 September 2015 www.sfbwmag.com WEALTH You must acknowledge that estate planning is important to your family and find the time to make it happen. Maybe it s uncomfortable to think about where your assets will go after you pass. Maybe you don t seem to have the time to work out a plan. Maybe you think that because you aren t uber-wealthy you don t really need a plan. Think again especially if you have a family. There s likely to be more to your estate than the basics of a will living will and power of attorney. So many of the entrepreneurs and executives I know put 110 percent into their work and give no attention to their personal business including estate planning says David Seleski president and CEO of Stonegate Bank. You must acknowledge that estate planning is important to your family and find the time to make it happen. If you work 60 hours a week for most of the year figure that you will work 50 hours per week for a few weeks to get it done. To find the right professionals to help Seleski recommends talking to peers for recommendations. Then interview some to make sure they mesh with your personality so you are certain they will understand your priorities. Many estate planning experts agree that the most ignored asset in executives portfolios is their 401(k) or IRA. But IRAs can be used more creatively in estate planning than most people think says Kristen M. Lynch an accredited estate planner attorney and shareholder with Fowler White Burnett. Sadly I m often hired after someone has passed to fix problems that are mostly due to neglect no beneficiaries assigned to it the total amount being handed to an 18-yearold and the tax burden that occurs when payments are taken from it she says. As an alternative IRAs can be structured as part of a trust and planned to extend payout periods for children and other beneficiaries. (See box for other suggestions.) Trusts are often useful tools for executives planning their estates says Carlos A. Batlle a wealth advisor at JP Morgan Private Bank in Miami. A lot of my clients choose the grantor retained annuity trust (GRAT) he says. A GRAT minimizes the tax liability that exists when intergenerational transfers of estate assets occur. In these instances an irrevocable trust is created for a certain period of time. The trust s creator pays a tax when it is established. Assets are placed under the trust and an David Seleski annuity is paid out every year. When the trust expires beneficiaries receive assets tax-free. A revocable trust is useful to keep your assets private as opposed to a traditional will that becomes a public document says Maria Mas Blet managing principal and CEO of GSK Wealth Advisors. In this income earned on assets in the trust is distributed to the grantor who can alter or cancel its provisions. Only after death does the property transfer www.sfbwmag.com September 2015 59 WEALTH What executives should know about IRAs BY KRISTEN M. LYNCH FOWLER WHITE BURNETT IRAs are like any other asset except for the fact that they are income tax deferred. Since they can be a large portion of personal wealth here are some things to keep in mind 1 2 3 4 5 6 7 8 60 Make sure you have a beneficiary properly named on the beneficiary designation form. This includes any qualified plans in which you may participate at work. If you are married and a participant in an ERISA covered plan federal law requires that you designate your spouse as your primary beneficiary unless your spouse agrees to waive those rights. Always designate a contingent or secondary beneficiary because it is impossible to predict which spouse might pass first or what events might occur. In an IRA you can name any beneficiary you like but your spouse is usually your best primary beneficiary because he or she can roll an IRA over upon the death of the owner and will have the same rights as the original owner. If you are in a second or third marriage consider leaving funds in a trust to benefit your spouse and then revert to your other heirs upon his or her death. If you are naming children who are minors consider creating a trust for them or the assets may be subject to a guardianship. If you are naming adult children consider creating a spendthrift trust that has protection from creditors for each child instead of naming each child directly. If you have a special needs beneficiary consider naming a special needs trust to preserve any benefits he or she may be receiving. IRAs are a great way to fund charitable bequests because charities can receive IRA assets without paying income taxes. to its beneficiaries. It s also helpful in making specific provisions for special needs beneficiaries allocation of assets in the event of divorce and planned charitable donations. Pay attention to what your assets are and how they are titled Mas Blet says. Think about where and to whom they are going. Always have a secondary beneficiary in mind for them. Mas Blet also recommends that business owners create buy-sell agreements as part of their legacy planning. This requires that the business share of a deceased owner be sold according to a predetermined formula to Maria Mas Blet the company or the remaining members of the business. Before the interest of a deceased partner can be sold to the company or remaining partners the deceased s estate must agree to sell. To ensure the availability of funds in the event of a partner s death most parties will purchase life insurance policies on the other partners. The proceeds from the policy are then used to purchase a portion of the deceased s business interest. Payouts from life insurance can also be used to leverage the tax burden of estates says Lenny Sklawer a financial services professional at New York Life Insurance Company in Miami. There is a strong possibility that the inheritance tax threshold which is now 5.43 million per person will soon roll back to somewhere between 2 million and 3 million per person he says. We encourage people to plan for that now. To use life insurance in your plan as way of tying accumulation values to a stock market index Grant Conness managing director of Global Wealth Management suggests an indexed universal life insurance policy. These typically contain a minimum guaranteed fixed interest rate component along with the indexed account option and give policyholders the security of fixed universal life insurance with the growth potential of a variable policy linked to indexed returns. Your estate plan should be a direct reflection of what you want to accomplish with your assets both Mas Blet and Sklawer agree. They suggest having at least one family meeting about the documentation of it. You really don t want your heirs to have disagreements Sklawer says. I ve seen it happen and Lenny Sklawer it s devastating. September 2015 www.sfbwmag.com www.sfbwmag.com AUGUST 2015 61 QUARTERLY REPORT COMMERCIAL REAL ESTATE Commercial Rebound at hand Rental rates showing gains as vacancy rates drop BY DARCIE LUNSFORD After an extended and sluggish comeback South Florida s commercial real estate rebound appears to be accelerating according to the latest midyear market data from CBRE. Vacancy rates tumbled year-over-year across the region for both office and industrial space as companies continued to lease more space than they vacated commonly referred to as positive absorption. Rental rates which have fought a slow slog out of the bombsize crater shaped by the Great Recession also showed gains in all sectors except Miami-Dade County s industrial market where there was a slight year-over-year dip as millions of square feet of new product pours steadily onto the market. Generally there is widespread consensus among real estate experts that the dawn of a new boom has fully emerged and is gathering sustainable momentum fueled by population growth and job creation. South Florida with a population of 5.9 million residents had the eighth-highest population increase in the nation last year with the arrival of 66 000 new residents from July 2013 to July 2014 according to a recent Associated Press report. Over the last five years we have had phenomenal population growth in South Florida and population growth is the biggest demand driver for industrial space says Christian Lee vice chairman for CBRE. Citing a Moody s report Lee says that the region will greet as many as 550 000 new residents in the next five years. Each resident generates the demand for 50 square feet of industrial space to house and distribute the goods and products they use in their daily lives. Altogether that will fuel future demand for more than 27 million square feet of new warehouse and distribution centers. Then there is growth in tourism and trade that further buoys demand Lee says adding that the region is home to the world s two busiest cruise ports. Similarly job growth is boosting demand for new office buildings although economic restraints have yet to spur an office construction wave to compare with current industrial construction boom. Job growth tends to be organic down here it is little-by-little so it is harder to pre-lease and therefore build offices for that type of demand Lee says. Of the major MSAs in the U.S. South Florida is among the top in job growth but at the bottom for new office construction. This may not be great for developers but it is great for owners of existing product. Lee says he sees the office development pendulum swinging in the next 24 months as continued demand and dwindling office supply pushes rents high enough to justify the pricier cost of land and office construction. That rent growth will be good for everyone in real estate... less so for tenants Lee says. Already Miami-Dade County is seeing a new wave of speculative office buildings but many of these projects are tucked inside mammoth mixed-use developments in 62 September 2015 www.sfbwmag.com The mixed-use nature of Brickell City Centre helps underwrite the land cost to make financial sense for office development Downtown Miami (such as the 1.05 billion Brickell City Centre) which helps underwrite the high land cost to make financial sense for office development. Miami-Dade far outpaces Palm Beach and Broward counties for new office development with nearly 1 million square feet of projects either coming out of the ground or in the immediate development pipeline according to CBRE data. Palm Beach has no new office projects under construction and Broward has about 350 000 square feet under development. In Miami rising rents and more than 500 000 square feet of new-to-market tenants in the last 24 months are emboldening developers to build new high-end office spaces according to Brian Gale principal at Taylor & Mathis which handles leasing for nearly 5 million square feet of office space in Miami and Coral Gables. Gale says rents along Brickell Avenue the city s main financial district hit a new rental rate benchmark this year at a gross price of 50 a square foot. But experts say this office construction trend is unlikely to really catch hold in more suburban locales until the residential market cools land prices level off and rents rise sufficiently to justify construction cost. I think the Southwest Broward submarket is really primed for new construction says Avison Young principal Greg Martin who handles 2.1 million square feet of office projects in Palm Beach and Broward counties. Rents are going up now and I think they are going to accelerate. He points to Duke Realty s construction of a 144 000-square-foot mid-rise office building along I-75 in Pembroke Pines as the possible icebreaker for a new era of office construction in Broward. Freelance writer Darcie Lunsford is a former real estate editor of the South Florida Business Journal. She is the senior VP for leasing at Butters Group and is avoiding a conflict of interest in her column by not covering her own deals. www.sfbwmag.com September 2015 63 CBRE MARKETVIEW SNAPSHOT BROWARD COUNTY OFFICE Q2 2015 Suburban markets leading with construction growth VACANCY RATE Commercial NET ABSORPTION (SF) Commercial UNDER CONSTRUCTION (SF) Commercial DIR. ASK RATE (S SF NNN) Commercial 20.3% Cypress Creek (18 967) Cypress Creek 0 Cypress Creek 14.17 Cypress Creek 19.3% Downtown CBD 88 214 Downtown CBD 0 Downtown CBD 14.33 Downtown CBD 13.9% Plantation 12 340 Plantation 32 249 Plantation Plantation 21.98 215 000 16.70 Sawgrass 14.8% Sawgrass (13 996) Sawgrass Sawgrass 11.4% Southwest Broward 0 Southwest Broward 0 Southwest Broward 17.35 Southwest Broward 11.5% MIAMI OFFICE Q2 2015 Office construction approaches 1 million sq. ft. VACANCY RATE Airport Doral 138 922 143 600 19.53 NET ABSORPTION (SF) Airport Doral UNDER CONSTRUCTION (SF) Airport Doral DIR. ASK RATE (S SF NNN) Airport Doral 11.7% Aventura Aventura 35 943 41 509 Biscayne Boulevard 40 000 Aventura 25.62 Aventura 5.6% Biscayne Boulevard 185 636 Biscayne Boulevard Biscayne Boulevard 40.52 35.89 Brickell 20.2% Brickell (15 580) Brickell 55 000 Brickell 12.3% Coral Gables Coral Gables 72 411 Coral Gables 314 199 Coral Gables 41.08 36.19 Downtown Miami 10.8% Downtown Miami 49 306 Downtown Miami 122 952 Downtown Miami 18.6% PALM BEACH COUNTY OFFICE Q2 2015 Vacancy rate declines 250 bps year over year VACANCY RATE Boca Raton 29 000 280 000 35.61 NET ABSORPTION (SF) Boca Raton UNDER CONSTRUCTION (SF) Boca Raton DIR. ASK RATE (S SF NNN) Boca Raton 19.5% Boynton Beach Boynton Beach 53 714 36.0% (21 102) Delray Beach 0 Boynton Beach 18.11 Boynton Beach 0 Delray Beach 14.25 Delray Beach Delray Beach 46.9% North Palm Beach 9 922 North Palm Beach 0 North Palm Beach 12.91 North Palm Beach 15.3% Palm Beach 17 088 Palm Beach 0 Palm Beach 18.75 Palm Beach 12.0% West Palm Beach 2.039 West Palm Beach 0 West Palm Beach West Palm Beach 41.51 18.48 19.1% 22 140 0 64 September 2015 www.sfbwmag.com BROWARD COUNTY INDUSTRIAL Q2 2015 Construction growing as vacancy declines and rents rise VACANCY RATE Coral Springs NET ABSORPTION (SF) Coral Springs UNDER CONSTRUCTION (SF) Coral Springs DIR. ASK RATE (S SF NNN) Coral Springs 6.8% Northeast Broward 35 296 Northeast Broward 103 515 Northeast Broward Northeast Broward 7.63 7.92 Pompano Fort Lauderdale 6.8% Pompano Fort Lauderdale 56 154 Pompano Fort Lauderdale 128 400 Pompano Fort Lauderdale 5.3% Southeast Broward 149 425 Southeast Broward 90 000 Southeast Broward 6.99 Southeast Broward 6.5% Southwest Broward Southwest Broward 160 563 Southwest Broward 253 888 116 667 West Sunrise West Sunrise 7.76 Southwest Broward 6.4% West Sunrise 44 826 West Sunrise 9.66 7.64 6.9% MIAMI INDUSTRIAL Q2 2015 Office construction approaches 1 million sq. ft. VACANCY RATE Airport Doral 74 779 0 NET ABSORPTION (SF) Airport Doral UNDER CONSTRUCTION (SF) Airport Doral DIR. ASK RATE (S SF NNN) Airport Doral 5.3% Central Dade Central Dade 266 362 270 952 Kendall Tamiami 163 000 Central Dade Central Dade 9.60 5.97 Kendall Tamiami 3.7% Kendall Tamiami 19 171 Kendall Tamiami 0.9% Medley (15 965) Medley 0 Medley Medley 9.83 701 022 8.22 North Central Dade 3.5% North Central Dade North Central Dade 258 511 90 542 South Dade North Central Dade 3.7% South Dade 320 437 South Dade South Dade 6.36 9.72 3.9% PALM BEACH COUNTY INDUSTRIAL Q2 2015 Vacancy rate declines 250 bps year over year VACANCY RATE Boca Raton 5 328 0 NET ABSORPTION (SF) Boca Raton UNDER CONSTRUCTION (SF) Boca Raton DIR. ASK RATE (S SF NNN) Boca Raton 5.5% Boynton Beach (5 380) Boynton Beach 0 Boynton Beach Boynton Beach 10.71 7.63 Jupiter 7.0% Jupiter Jupiter 25 702 15 683 Lake Worth 0 Jupiter 3.3% Lake Worth 0 Lake Worth Lake Worth 8.14 8.52 Riviera Beach 4.3% Riviera Beach (44 953) Riviera Beach 0 Riviera Beach 4.9% West Palm Beach 24 577 West Palm Beach 0 West Palm Beach West Palm Beach 7.20 8.45 4.2% 14 604 0 www.sfbwmag.com September 2015 65 SFBW AGENDA An Evening in Paris ll help children in ral Jamaica Franchising in the Land Down Under Franchising often involves finding a wellconnected intermediary master franchiser which is why in some countries only a handful of families own all the Starbucks or Subways says Andrew Cagnetta CEO of Transworld Business Advisors. This is not the case however in Australia where business life is much like it is in the States. That s one of the reasons Transworld has announced the opening of three offices in New South Wales and two in Queensland. The move builds on Transworld s relationship with United Franchise Group the West Palm Beach company that s in about 60 countries globally and includes the EmbroidMe and Signarama franchise businesses. Transworld is basically United Franchise s franchise when it comes to offering business brokerage and consulting services for franchises. Australians have a burning interest these days in franchises which was covered in a June article on Entrepreneur.com. Australia has 1 160 franchise brands for a population of 23 million a higher ratio than any other country according to the Franchise Council of Australia. The vast majority of its franchises (86 percent) are homegrown. The Entrepreneur article indicates that some Aussies want to bring their concepts to the U.S. Transworld s franchising expertise could end up helping with that as well. Making a Difference It s called An Evening in Paris but the end result will help an impoverished community in rural Jamaica. Marlene Gordon general counsel for Bacardi North America has developed a Parisian gala theme for the biggest annual fundraiser for the Lynne Mitchell Foundation which is named after her late mother. Among other things the foundation helps to provide school supplies furniture and lunches to underprivileged students who would otherwise go hungry. It has also provided 13 000 in scholarships and has helped with the pay of a respected principal who returned after leaving for a higher-paying job. Gordon talks specifically about how more than a 100 students are crammed into the one-room Seaview Primary School in the area of Southfield and Round Hill in St. Elizabeth Jamaica. Her long-term goal is to see the construction of a new two-story school. The fundraiser will be held on Sept. 26 at the Coral Gables Country Club. Visit lynnemitchellfoundation.org for more information. 66 September 2015 www.sfbwmag.com ARE YOU DESTINED FOR GREATNESS ap o gee puh-j noun 1. the highest point in the development of something the climax or culmination. 2. Astronomy. the point in the orbit of the moon or a satellite at which it is furthest from the earth. AWARDS CEO CF0 CMO COO CIO CHAIRMAN PRESIDENT SENIOR HR EXECUTIVE PLEASE JOIN US AS WE CELEBRATE THE 2015 HONOREES Presenting Sponsor DATE Wednesday October 21st 2015 TIME 5 30 PM LOCATION NSU Art Museum 1 East Las Olas Boulevard Fort Lauderdale FL 33301 PRICE 150 Per Ticket The evening will feature a celebratory reception inclusive of cocktails and hors d oeuvres followed by our awards program. Gold Sponsor Silver Sponsor FA M I LY O F R E C R U I T I N G C O M PAN I E S The Apogee Awards will honor a small group of South Florida s C-level executives that have achieved greatness within their profession while also working for the greater good of the community around them. Honorees will be selected by a distinguished group of business and community leaders from the tri-county area who comprise the SFBW editorial board. To learn more about the Apogee Awards or to purchase tickets please visit apogee.sfbwmag.com & Presentied by BUSINESS TIPS Some Really Twitter can not only strengthen your foundation but build your brand by reaching new customers and markets. Americans are tweeting millions of times a day so why not put your business out there and let Twitter do some of the heavy lifting These tips should help optimize your efforts Tips Your email newsletter (with a link) Signs posted in your business Paperwork you give customers (receipts invoices statements etc.) 1 Organize whom you follow with lists. Oftentimes we follow customers suppliers neighboring businesses peers and competitors. In order to ensure you see important messages use Twitter lists to focus on the most relevant people and conversations. You can create up to 20 different Twitter lists with up to 500 accounts in each list. Update your profile picture. Your Twitter profile picture is small and your logo may not display well. You may want to consider a headshot. Twitter is about faces and people prefer faces to logos anyway. Change your visual branding. Twitter allows you to customize the look and colors of your profile page. You can create a custom graphic and use it for your Twitter background. 8 9 Make sure you follow your customers. Twitter is a great place to interact with your customers. It provides an opportunity for you to connect with them directly. Consider offering incentives for them if they follow you. This almost always works and may even lead to increased sales. 2 Add photos to your tweets. Statistics show that people are more likely to read your posts online if you include pictures. 10 3 4 5 6 7 68 Rewrite your Twitter bio. Make sure to tell people what product or service you provide and show a little personality. Mark your calendar and make sure to update your bio every couple of months to keep it fresh. Create a Twitter landing page. Most businesses use their Twitter profile link to drop people off at their website homepage or blog. However you can create a special Twitter landing page and use that page as your Twitter profile Web address. A Twitter landing page gives you more space to talk about your business and about your Twitter use. Let Twitter help you with your business challenges. It takes some time on Twitter before you ll be ready to put it to work on your business goals. However once you have built a community and understand the way Twitter works it s time to take it to the next level. Offer Twitter-only specials. If productivity is down offer a special deal (free product or a discount) for everyone who knows the secret code you tweet out Tuesday at 5 p.m. for instance. Reward people who retweet you. Is your blog a little lonely Twitter is a great tool to drive traffic to your blog. Set up a contest or a reward for people who retweet your messages about your blog posts. You may want to consider giving away a free 30-minute consultation service or product. Whatever business you are in there is always something you can use to entice people to retweet or follow. Expand the Twitter conversation to your blog. When you have a great conversation going on Twitter expand the conversation to the people who read your blog. Twitter now makes it easy for you to embed a tweet into a blog post so it looks like a tweet and has the same interactive features it has on Twitter. If a topic is working for you why not extend its shelf life Rethink your following strategy. Don t automatically follow back everyone who follows you. Many Twitter accounts are automated programs that can clog up your Twitter stream. Publicize your Twitter account. Make it easy for people to find your business on Twitter by adding your username to all of your business materials Your website (with a link) Your email signature (with a link) 11 For more business tips visit SFBWmag.com and click on Knowledge Center under the Departments heading at the top of the page. September 2015 www.sfbwmag.com A CONTEMPORARY PARADISE IN WESTON BY A VISIONARY TEAM CHAD OPPENHEIM RONEY MATEU VSTARR JEFR Botaniko Weston is a private enclave of 125 modern luxury homes situated on 121 graciously landscaped acres in Weston - one of Money Magazine s best places to live. BOTANIKOWESTON.COM T 754.260.3980 EXCLUSIVE SALES & MARKETING BY TERRA REALTY LLC Broker participation welcome. Oral representation cannot be relied upon as correctly stating the presentation of the Developer for correct representation make reference to the documents required by section 718.503 Florida Statutes to be furnished by the Developer or Buyer or Lessee. Not an offer where prohibited by State Statutes. Plans features and amenities subject to change without notice. All illustrations are artist conceptual renderings and are subject to change without notice. This advertisement does not constitute an offer in the states of NY or NJ or any jurisdiction where prior registration or other qualification is required. Equal Housing Opportunity. www.sfbwmag.com September 2015 69 TECH HUB Customer Service Reimagined No more What does your phone say now BY CHRIS FLECK Customer service has long been a critical factor for an organization s value and long-term success. For IT departments customer service has traditionally meant staffing support centers for employees to call when they have issues with their PC applications. In today s mobile world however the challenges and opportunities to perform superior customer service go well beyond the traditional IT support line. Yes the support role is still essential but users expectations have risen dramatically. They have no patience for being put on hold and then asked What does your phone say now More importantly as mobile applications are becoming an essential part of customer engagement IT is often now servicing more than internal employees. If a customer still can t use the app or has unanswered questions business can be lost or worse a dissatisfied user is more likely to share their frustration with friends colleagues or the world via social media. For PC and Mac users there are a number of support solutions including those via chat and even some with screen sharing. But in the world of mobile and instant expectations there has been a big gap. Apple has not made it easy for IT or app developers to provide the services that satisfy demanding users. In order to address this challenge Citrix has launched a service called Concierge that dramatically improves customer service over traditional 800 numbers. Developed in Fort Lauderdale Concierge allows any app developer to include a help or concierge button inside the app that instantly starts a help session with a support rep or domain expert. Audio and video are built into the service so that no phone calls are required. With permission users can securely share their screens and device details to avoid What does your screen say now frustrations. Many organizations are planning to leverage the technology for more than simple IT support such as connecting users to a product expert who can help with a sale or a transaction like a stock sale. In addition the phone s camera can be used by the remote expert to help a field worker better diagnose an issue by seeing what the technician sees. Gus Pinto senior director of the app platform group at Citrix says We are impressed with the demand for Concierge it shows that companies understand the value of better communication and in engaging in real time with their mobile customers. Wouldn t it be great if every app had a built-in Concierge Chris Fleck is on the board of the South Florida Technology Alliance and is vice president of mobility systems and alliances for Citrix Systems (NASDAQ CTXS) a Fort Lauderdale company that provides secure remote access to data and applications. 70 September 2015 www.sfbwmag.com explosive creativity for your business. 561 . 59.GREEN greengroupstudio.com Branding Graphic Design Website & Web App Development SEO SALES STRATEGIES Is What You re Saying to Yourself Costing You BY GRETA SCHULZ I feel like nothing is working Connie told me in frustration about her recent sales numbers. Whatever I do it doesn t seem to matter. I thought the economy was getting better but no one is going to buy right now. Once the economy turns around and people are feeling more confident then things will start to move again but until then it s just not happening. I may have to get a part-time job or something until that happens because I am scared that I can t pay my bills. Connie and I talked about some of the scenarios that she has been dealing with. She told me that people really like her product but they just can t afford it right now. Connie s story isn t unusual but it is self-fulfilling. Why are some people thriving and others are in Connie s boat I believe it is less about the external situation and much more about the internal self-talk we have going on. I have narrowed it down to what I call ITALK. I Initial Situation. The initial situation here is that the economy went through a one-two punch that certainly changed the way business is conducted today. The initial situation is what it is. It s fact. T Thoughts. The thoughts that we create because of a situation are completely ours. This is the filter through which we see the situation. It is how two people can see the same situation differently. Connie s thought is People can t afford it right now. That is a big assumption. A Attached Feelings. The feelings that we have based on the assumptions we make can be very damaging. They are especially damaging when the feelings turn into beliefs and start to affect the way we conduct ourselves. Connie was so scared she actually thought about getting a second job. L Lead Action. Our lead action is what we do because of our beliefs. When Connie approaches a prospect she doesn t have confidence to handle the money objection because she herself believes it. She is practically waiting for the objection to come which makes her feel defeated or offer a discount. K Known Result. The known result is what actually happens. This is very difficult because you will almost always get the result you believe you are going to get. When you do you say to yourself See I knew it and the cycle continues. ITALK is the talk we have with ourselves. It is our internal dialogue our internal beliefs. In my opinion there is nothing more dangerous than this. No matter how many times someone tells you it s not that way your subconscious mind is much more powerful than your conscious mind. If you fix your negative thoughts you can change your outcomes. It s not the economy it s your thinking that is hurting you the most. Greta Schulz is president of Schulz Business a sales consulting and training firm. She is a best-selling author of To Sell is NOT to Sell and works with Fortune 1 000 companies and entrepreneurs. For more information or free sales tips go to schulzbusiness.com and sign up for GretaNomics a weekly video tip series or email sales questions to greta schulzbusiness.com. 72 September 2015 www.sfbwmag.com At Greenspoon Marder it s all about YOU. We are committed to providing sophisticated and distinctive client service through our cross-disciplinary Client Team approach. Our goal is to understand the challenges that YOU face and build collaborative relationships and craft creative solutions designed and executed with long-term strategic goals in mind. Since our inception in 1981 Greenspoon Marder is a full-service business law firm with the experience needed to understand your challenges and develop the strategies that YOU need. We serve Fortune 500 middle market public and private companies start-ups emerging businesses and entrepreneurs across Florida and the United States. 888.491.1120 www.gmlaw.com Aventura Boca Raton Fort Lauderdale Miami Naples Orlando Port St. www.sfbwmag.com September 2015 Lucie Tampa West Palm Beach 73 BEHIND THE MIC Tips from Mr. Social Media 305 BY JIM FRIED Noelia Moreno John Mahoney One of my favorite guests is John Mahoney aka socialmedia305. John taught me the language of Twitter. That s right Twitter has a language. You have to be able to get your point across in just 140 characters. That takes lots of abbreviations and inventive phrasing. John discussed using social media advertising to build your business. He suggested I experiment with Twitter and Facebook ads. I ve been doing so for the past couple of weeks and the impact on my social media campaigns has been dramatic. He said that I should start by going to analytics.twitter.com to look at some of my recent tweets. The analytics tell you about your audience. For example I found out that my audience is skewed toward high-income professionals with high education levels. We also talked about which social media platforms work best for certain businesses. Every industry has a platform where it is most effective. For instance the fashion industry focuses on Instagram while mom-and-pop businesses and large corporations tend to be more Facebook-oriented. Another guest this month was Alex P. Cordia vice president of business development at Republic Sources. Alex has oil in his blood he is the grandson of T. Boone Pickens. He pointed out that the number of operating oil rigs in the U.S. is dropping and the cost to drill for oil is decreasing as well. Although some people are getting out of oil and gas exploration Alex suggests getting in when oil prices rebound exploration and production costs will go up. People that get in when the production cost is lower will have much higher profit margins than those who move later in the cycle. Sounds a lot like real estate We also profiled a new trend executive coaching. Coaches Noelia Moreno and Joe Cruz were on the show together. Everyone from a senior executive to someone just getting started needs a mentor and an executive coach can help fill that role. It s true that it s harder for senior executives to find a mentor. Executive coaches can help these executives create their own agenda and then help them implement said agenda. By reaching out to an executive coach they can find someone who is not involved in the day-to-day politics to give them benchmarks on what to do with their business. Noelia and Joe recommend that people select a coach that matches up with both their personal and professional agendas. One of the most difficult issues is the separation of business and personal life. Noelia says that it s important to find balance. Joe says it s important for clients to find their own way the coach is there to help them chart the path. To listen to these and other interviews go to our website friedonbusiness.com. We interview thought leaders every Thursday from 6 to 7 p.m. on 880 AM. Listen live by visiting bit.ly jimlive. 74 September 2015 www.sfbwmag.com AD www.sfbwmag.com AUGUST 2015 75 PEOPLE PASSION AND PROFITS Your Secret Sauce Relationships BY STEVE GARBER It doesn t matter what you do for a business career or in life. The secret sauce for success and happiness comes down to relationships. We don t stand out because of what we do or even how good we are at doing it. We stand out (positively or negatively) because of our ability to relate communicate and influence those around us. In business commoditization is more the rule than not. Yes some doctors lawyers accountants wealth managers restaurants and real estate agents are better trained or better technicians than others. But the vast majority of our success is not that expertise experience or skill. Our success is determined by how well we connect with relate to and provide service to our prospective and existing colleagues and clients. South Florida is not known for having the greatest service. People complain all the time about unreturned calls late arrivals and poor communication on the phone. When it is not like that we feel good. We want to do business with that person even if they charge a bit more are a bit out of the way or make us wait. You probably don t need research to validate this common sense but we have it Nobel Prize-winning Israeli-American psychologist Daniel Kahneman found that people would rather do business with a person they like and trust rather than someone they don t even if the likable person is offering a lower-quality product or service at a higher price. My wife Suzy and I are looking for new garage doors. There are only a handful of manufacturers. It s a commodity. There are tons of sales and service providers. We ve had special offers sales calls and have responded to online offers. Suzy has always worked with one well-known female-owned company. She is very loyal and now I understand why. We made the appointment and the salesman called confirmed the time and place for the appointment and exactly what he was coming to sell. Not a recording not a bored telephone service agent it was the salesman. Today he came. In a uniform. Smiling engaged and engaging and prepared. He made us both feel important and respected. He listened and offered opinions and suggestions. And then he wrote up his proposal. He may be a bit more expensive. He may not start tomorrow. But he got our business. He built a relationship and we will be surprised if we do not get the same level of service from his installers. It is in their corporate DNA. It is how this company how this company s people show up every day. We get to choose who we want to be and who we truly are every day and in every interaction. If we chose to do so we make our relationships stronger and better every day. Steve Garber is director of Third Level Ltd. Contact him at 561.752.5505 or sgarber thirdlevel.com. 76 September 2015 www.sfbwmag.com C OMI N G F E BRUARY 2016 EXCELLENCE IN HUMAN RESOURCE AWARDS 2016 P R E S E NTI NG SP ONSOR Delivering Talent. Impacting Results. S I LVE R SP ONSOR S For more information or sponsorship opportunities please email Jill sfbwmag.com 2015 77 www.sfbwmag.com September THE FAMILY OFFICE How Much Is Too Much BY JULIE NEITZEL A common struggle for wealth owners is determining how much to leave to heirs and how to communicate their wealth transfer plans. This dilemma is understandable given the constant headlines regarding the destructive behaviors of wealthy children reality TV shows such as Rich Kids of Beverly Hills that depict the frivolous lives of wealthy heirs and the overriding concern that wealth will negatively impact the next generation. However many wealth creators believe in the importance of keeping it in the family and have successfully enabled wealth transfer. Certain well-known individuals have publicly communicated their wealth transfer plans. For example Bernard Marcus founder of Home Depot believes that inheritance is a terrible burden and says he plans to leave his estate to the family s charitable foundation. He says he that if his children want to be rich they need to work for it. Likewise Bill Gates established a foundation over 20 years ago and transferred most of his wealth to enable important societal impact. Warren Buffet openly discusses his plans to give his wealth to philanthropy but leave enough for his children he regularly encourages other individuals to give half of their wealth to charity. Other individuals have pursued keep it in the family wealth transfer plans. Curtis Carlson of Carlson Travel Radisson Hotels and TGI Fridays transferred his massive estate to his two daughters who were involved in many aspects of the family business from their early years and knowledgeable in the wealth enterprise components. Today the third generation remains involved in the business. Ted Turner s father felt that his son was not capable of carrying on the family business even though he worked there from an early age. Turner assumed full management responsibility at age 24 after his father s death and successfully built the company into a multibilliondollar business. He also became a highly successful pioneer in American television and is now America s largest private landowner. He owns the Atlanta Braves baseball team and has enabled considerable philanthropic contributions. Sam Walton founder of Wal-Mart did considerable estate planning. His son Rob served as chairman of the board for nearly 25 years navigating the challenges of a 500 billion annual revenue public company. Recently another family member assumed this role after 15 years of service with Wal-Mart. The decision of how much to leave to heirs is a highly subjective one. There is no formula. Proper upbringing and involved parenting are identified as important safeguards against potential problems. The philosophy is child rearing before estate planning. Work experience is also important in learning the values decision-making process and operational aspects of running a family wealth enterprise. Communication is key It s important to shed light on family finances and let heirs know what they re getting (and what they re not getting) where the wealth came from and what it takes to maintain it. The learning process takes time ideally over a lifetime of togetherness as a family. Julie Neitzel is a partner and advisor with WE Family Offices in Miami and a board member of the Miami Finance Forum. Contact her at Julie.Neitzel wefamilyoffices.com or 305.825.2225. 78 September 2015 www.sfbwmag.com TICKETS ON SALE SOBEFEST.COM 877.762.3933 IN OCTOBER FEBRUARY 24-28 2016 FEATURING GIADA DE LAURENTIIS GUY FIERI BOBBY FLAY TYLER FLORENCE ROBERT IRVINE EMERIL LAGASSE MASAHARU MORIMOTO RACHAEL RAY MARCUS SAMUELSSON & MANY MORE TITLE PRESENTING BENEFITING HOSTED BY HOST HOTEL OFFICIAL AIRLINE Chaplin School of Hospitality & Tourism Management PLATINUM SPECIAL THANKS 2015 www.sfbwmag.com AUGUST 2015 79 THE COMPETITIVE EDGE A different type of TEA can help productivity BY LINDA JANASZ In the modern-day workplace we are expected to react immediately to almost everything. Such was a habit that John a successful marketing director was quick to embrace. Rather than managing his environment John reacted to it. Emails texts and phone calls beeped rang and pinged and his office door was always left ajar as colleagues came and went bombarding him with questions. His world had become so chaotic that he had little time to complete tasks. He constantly felt a sense of urgency which left him no time to think or reflect. Whereas his work was once a source of inspiration and meaning it was now leaving him feeling anxious and overwhelmed when it came to decisions and deadlines. Even simple choices were becoming challenging. John began spending his nights and weekends completing work at home as his office was no longer a place to get any real work done. When his spouse asked him why they never went out anymore he knew it was time to make a change. With some coaching John learned to observe his TEA (thoughts emotions actions) by stepping back and noticing the distracting triggers that were causing him such distress. Learning to be mindful allowed him to observe and respond rather than react to every interruption. Self-awareness is often the first step in creating supportive spaces that better serve us. John took a truthful look at where he was both physically and emotionally and began scheduling times where he would close his door and shut off all noise. Slowly he began to create small periods where he regained his focus. Another strategy that John learned was to use his triggers (one of which was texts) to pause take a deep breath and notice the moment. With practice his stress levels began to decrease and his productivity and capacity for making decisions improved. He remembered why he once had enjoyed his work so much. Researchers Tobias Teichert and Jack Grinband found that Postponing the onset of the decision process by as little as 50 to 100 milliseconds enables the brain to focus attention on the most relevant information and block out irrelevant distractors. Just a short delay less than the time it takes to blink gives us the chance to make better choices. Learning the skills to observe our thoughts our emotions and our actions not only allows us to be less distracted but also increases our capacity to experience more fulfillment in all that we do. Understanding that we can t control our modern world but we can respond to it in a controlled manner is essential for our professional and private lives. Having the courage wisdom and insight to stay present flexible and patient can make all the difference in cultivating inspiration and creating meaningful moments each and every day. Linda Janasz is a transformational coach trainer researcher and Registered Yoga Teacher (RYT 200) and holds a Ph.D. She developed and teaches a program called Mindfulness Meditation and Movement (MMM) Training that has helped hundreds reduce stress increase productivity and discover meaning in an unbalanced world. For more information visit mindmedmove.com. 80 September 2015 www.sfbwmag.com WE DO IT DIFFERENTLY. Powered by differently ibistechnology.com (954) 603-1515 toll free (855) 222-6611 www.ibistechnology.com west palm beach boca raton fort lauderdale coral springs miami coral gables Time to trade the corner office for your own little corner of the world A Transworld business advisor can get you there. Every day Transworld Business Advisors connects quality top-paying acquirers with business owners ready to sell and move on to the next stage in their careers. As the world leader in business sales franchising and mergers and acquisitions Transworld has access to a huge database of individual domestic and immigrating buyers and strategic corporations looking for the right business opportunity. And Transworld has the expertise to ensure any business sale goes smoothly. So whether you re ready to sell your business or buy an existing business or franchise contact a Transworld Business Advisor for a free consultation today. Andrew Cagnetta OWNER CEO 800.205.7605 t world.com www.sfbwmag.com September 2015 81 HISTORY VIEWPOINT Cubans arrive in Miami on one of the Freedom Flights that began in 1965 Cuba Past and Future Cuba is a hot topic these days. With the potential end to the 53-year-old Cuba embargo in sight South Floridians and Cuban-Americans are looking to the future with questions about how this lift will affect trade and especially tourism between the two countries. (See SFBWmag.com for our panel discussion about doing business in Cuba.) Currently an estimated 2 million Hispanics of Cuban decent reside in the United States with 70 percent living in Florida. Many first-generation Cubans arrived in Miami on one of the famed Freedom Flights which were U.S.-organized and funded airlifts that occurred five days a week twice a day from Dec. 1 1965 until the spring of 1971. The flights brought 300 000 Cubans to the United States at a cost of about 12 million. HistoryMiami is the premier museum for visitors to get a glimpse into Cuba s history and its ties to South Florida showcasing artifacts from the Mariel boatlift Cuban folkloric traditions and more. The museum is currently featuring the exhibition Operation Pedro Pan The Cuban Children s Exodus. Information for this feature is courtesy of the HistoryMiami Archives & Research Center which is open to the public and contains more than 1.1 million images of Southeast Florida the entire state and the Caribbean from 1883 to the present. For more information visit historymiami.org. 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