Negocios Now

www.negociosnow.com Agosto 2023 9 By David Steinkraus T here's a new business organization for Chi- cago Latinos, but the Executive Latino Council is unlike the many service and advocacy groups that you may already know. Most business help in Chi- cagoland focuses on small companies just forming or just starting to grow, said José Alfredo Suárez, who co-foun- ded the council with Ulises Ruelas. The council is instead focused on helping compa- nies with revenue greater than $2 million but less than $500 million. "The struggle is — how do you get a middle- market company to scale into the Fortune 1000, the Fortune 500, the Fortune 100?" he said. Another characteristic that sets the council apart, he said, is its de-emphasis on social goals. "Our focus is just on business and economic deve- lopment. We don't get invol- ved with the political side of things." ALL SPECIALISTS The council consists of about 15 members who practice in specialties that include busi- ness development, staffing, human resources, content creation, commercial len- ding, information technology support, and law. All special- ties are about helping compa- nies scale further, overcome the barriers to success, and build generational wealth, Suárez said. Suárez himself is a risk management consultant for Alera Group, and the coun- cil grew from his own expe- riences. When he moved from small business into the midd- le market space, he said, he found a shortage of allies, especially for Latinos. Then he met Ruelas, he said, and they clicked immediately. "Here's somebody in the same boat as me, doesn't come from any type of Ivy Lea- gue background, isn't from a wealthy family, but our job is to secure relationships and opportunities with establis- hed companies." They discussed creating a network of similar professio- nals who could help business owners with all their needs. "It's like a business accele- rator in all different profes- sions," Suárez added. After 10 years of networking ("I love to network," Suarez said), he had identified a group of Chicagoland consultants with whom he would want to work. Suárez said he and Ruelas had their first conversation about the council in 2021. The COVID-19 pandemic was in full force, which made any networking difficult, but he said the council formed with himself, Ruelas, and a couple of others. Not until January of this year did the council have a firm grip on its vision, whom it would serve, and who wan- ted to continue as mem- bers, Suárez said. The formal launch was in June. Suárez said they chartered a yacht and had about 220 atten- dees — council members and some of their best clients, people from public agencies such as the Chicago Transit Authority, and some political officials. The goal, he said, was to create an environment where people could speak to other business owners in similar situations, to people who could help them find work, or to people who could help solve problems. Most consultants on the council are in their 30s or 40s, Suárez said. Business owners they work with are typically in their 50s or 60s, but it's their children with whom council members seem to form the best connections, he said. And those children — mostly born in the United States and college-educated — are the next generation of business owners who will build on the foundations laid by their parents. Only business consultants, and only one from each pro- fession, may become council members, Suarez said. Within the council, business people may be referred to other members for services, or if different help is needed, there may be a referral to someo- ne whom a council member knows, he said. An example is Robert Ibarra, owner of the Ibarra Group, a steel fabrica- tor, Suárez said. Ibarra needed a piece of property, so within the council, he was referred to commercial real estate agent Heriberto "Ed" Ruiz, then to lender Manny Flores for a below-market-rate loan, and then to attorney Juan Morado for legal work. The idea, however, is not to make the council an insular group, Suarez said. "We're all about collaboration. We're not trying to take anybody's mem- bers away. We're not trying to compete with anyone else. We're about teamwork. We're about shared visions and goals. We are willing to partner and talk to anyone willing to advocate for the same visions and objectives that we have." For more information, visit the Executive Latino Council's website: https://www.elcouncil.org. For new business group, it's all about middle-market success Exclusive interview with José Suárez, co-founder with Ulises Ruelas of the Executive Latino Council, a new organization to elevate minority-owned businesses. José Suárez (left) and Ulises Ruelas, founders of the Executive Latino Council.

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