The nominations are IN. More than 220 Birmingham businesses are now being called the IN spots according to the IN guidebook on sale now at Alabama Booksmith and Books-A-Million. This hand-held guidebook lists the places to dine, entertain and shop as said by thousands of Birminghamians. The IN spots were announced at the IN Campaign Wrap-up party, sponsored by Davis Architects, on July 29 at the IN attraction Vulcan Park & Museum. Attendees were able to sample food and drinks from several IN spots including Urban Standard, Rojo, Sol Y Luna, Gian Marcos, The Olive Branch, J. Clyde, Superior Grill, Cosmo’s Pizza, Bottle Tree and Morgan Creek Winery. Other Birmingham vendors supporting the party included Birmingham Coca-Cola, Vitamin Water, Birmingham Budweiser and Catering by LaNetta. The night was complete when attendees took to the floor learning some dance moves from IN honoree Steppers and Walkers.

The IN Campaign was a four-month long image campaign created by the Greater Birmingham Convention and Visitors Bureau to get feedback from Birminghamians on their favorite places in town. The Chamber was a partner along with Operation New Birmingham and Metropolitan Development Board. Giant red boxes as well as 50 smaller boxes were scattered around the city to allow people to nominate and online, too.

The Chamber will honor Birmingham’s regional media professionals at the fourth annual Media Night 2008, Sept. 8 at 5:30 p.m. at Vulcan Park & Museum. Media Night is a chance to network and mingle with journalists in a fun and relaxing environment that is “Off the Record.” With presenting sponsor Charter Communications, the Chamber will recognize the finalists and announce the winners of the Rufus N. Rhodes Leadership in Media awards. This event is exclusive for members of the Chairman’s Circle, Board of Directors and Board of Trustee members. Invitations to this event are non -transferrable.

The Rufus N. Rhodes Leadership in Media awards recognizes work in journalism that has made an impact on the region or on a specific community. Many of the finalists were nominated by Chamber members. There are three categories of finalists: individual, organization and posthumous. Finalists in the individual category are Matt Murphy, host of The Matt Murphy Radio Program that airs on WAPI 1070 AM, Rahkia Nance & Robert K. Gordon, metro reporters at The Birmingham News, Michael Tomberlin, business reporter at The Birmingham News and Sarah Verser, reporter and anchor at Fox 6. The finalists in the organization category are ABC 33/40, CBS 42 and FOX 6.

Business Before Hours
7-9 a.m. Sept. 12
Embassy Suites

The ultimate networking experience! Hosted by the Embassy Suites, this energetic, morning event is guaranteed to motivate you and your team and connect you (one-on-one) with the region’s professional business elite! Join Chairman Tony Giles as he leads you through networking at its finest! REMEMBER: bring plenty of business cards for the priceless contacts you and your team will make! This event is FREE for members who RSVP by Wednesday, Sept. 10* E-mail Lisa Swanger or call her (205-241-8121) to make your reservations today! (*$10 after Sept. 10)

The Birmingham Regional Chamber of Commerce cordially invites all Directors, Trustees, Chairman Circle Members and other distinguished guests to a CEO Welcome Reception honoring Fred McCallum.

The reception will be from 5-7 p.m. Aug. 28 at the Summit Club located at 1901 Sixth Avenue North on the 31st floor. McCallum is the president-Alabama AT&T. Please RSVP Lisa Swanger at (205) 241-8121 or click here.

Looking for a great way to get exposure (for free!) to more than 3,000 people? The Chamber’s Small Business Committee is proud to announce the e-newsletter’s latest column, Small Business of the Month. This column will highlight a new small business every month and will include a short biography of the company, a photo and a link to the company’s website.

To qualify, a business must be a member of the Birmingham Regional Chamber of Commerce in good standing, have 500 employees or less and have been in business for at least three consecutive years. Community involvement will also be considered during the selection process.

If you would like to be considered, click here to download an application or email Ashley Grigg. This column will begin running in September, so be sure to complete and return your application today!

In my line of business, I have entrepreneurs who come to me and ask for advice about raising Venture Capital. The problem is that they can’t answer the most basic question standing in their way: “What to you want to do with your company five years from now”. If you’re not willing to sell the company, cede control, and otherwise “cash out” of your enteprise, then venture capital is not an option. If your goal is to grow a nice “lifestyle” company, then grow it on cash flows. If your desire is to create a company that you can pass on to your oldest child, then invest your life savings and take out loans to cover your (financial) shortfalls. Never, ever, approach a venture capitalist for money under these conditions. If you want to take your company to the level where it dominates a sector, is attractive to acquisition by a larger player in the market, or is set to IPO (an unlikely result and a topic for another posting)… then, by all means, get your company ready for venture capital. Your source of funding will dictate a few things …

• Taking money from a Venture Capitalist is like getting married. There will be a “pre-nuptual” agreement (aka term sheet). There’s a nice honeymoon period after funding where all the promises you made to each other drive a “wonderful life.” Everything is rosy. Yet, now you’ve got a spouse to help you make decisions. If things get ugly, divorce is possible. But, their lawyers are better than yours and the “pre- nup” protects them. This is why it’s important to hire your own big-time lawyer to work out the details in the term sheet.
• Getting money from an Angel investor is like having a live-in lover. There’s still a term sheet. But, they’re probably not as interested in spending every waking moment with you. Some, however, might want too much of your time … so pick one carefully.
• Going to “friends and family” for funding is quick and easy. But, remember that blood is thicker than water. Rather than having a legalistic relationship, you’ll be taking money from your parents or your best friends. You’ve got to answer for failures and difficulties over Thanksgiving dinner or at the 19th hole after a round of golf. They won’t likely every show up at a board meeting or understand anything about your business proposition. They’re writing a check because it’s you.
• Borrowing money from the bank is good because you buy yourself out of the relationship over time. Of course, they want something in exchange for the capital… so you’ve got to have collateral.
• The best way, IMHO, is to self-fund the company. You’ll remain in control and you get to keep all of the “up side” from the deal. The problem is, however, that most people don’t have such funds.

Curtis Palmer is CEO of ComplyMD.

EDITOR'S NOTE: From One Member to Another is a new guest column in the Chamber's e-newsletter written by members for members. For guidelines on writing a guest column click here or e-mail Laura McAlister

If you are interested in sponsoring a Chamber event, please contact the Manager of Sponsorship Relations, Angie Vilchez at (205) 241-8128.

You can access our most up-to-date list of available sponsorships here

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