First it was the email from Nigeria announcing an inheritance; then you’d won the lottery – and hard to believe some people still fell for it – part of their get-rich-scheme I guess, but these days, scam artists are getting much more sophisticated.
Take last week. My address book on Facebook was hacked into and friends received an email implying that I was stranded in London and needed financial help to get home. Given I am from the UK, this was quite plausible, however the colourful language used gave them away, and friends knew it wasn’t from me.
In sharing this tale with someone else, I learned of an even more sophisticated attempt to empty your bank account. My colleague was invited to speak at a conference in the UK, the invite seemed genuine, the location existed and they forwarded a professional looking contract, etc… She had done her due diligence and checked some of this out, and it all seemed above board. Until she got an email asking for her bank account information – supposedly so they could pay her honorarium in advance. That’s when she stopped, contacted the church where the conference was to be held and discovered it was all a scam.
Wow! I think several of us might have fallen for this one and the “ask” if you will wasn’t immediate, so you could be lulled into thinking this was the real deal. All of which flags, that sadly we need to be cautious and never take what seems like an amazing offer at face value. If it seems too good to be true, it probably is.
Monday, September 07, 2009
Wednesday, August 26, 2009
Date first
When I worked in the non-profit sector, I had a reputation for bringing people together to collaborate on a project. Agencies didn’t always do so willingly, sometimes there was resistence – mainly because of territorial issues, but bottom line, we were able to find a common ground that made it work. Usually it was because of the clients, and we would pool our resources to better the outcome for them.
I can’t say I have had the same level of success since starting my own business. People are suspicious – always wanting to know what’s in it for them, and questioning why you would want to partner. Were you going to get more out of it? And when I have partnered, it hasn’t always worked out the way I expected.
When I reflect back on my non-profit days, I realize that apart from wanting the best for our clients, the other common factor we shared was our values. We tended to be working in the non-profit sector because we wanted to make a difference. Earning lots of money was never a draw, which is just as well as the salaries were low.
So when I look at the partnerships that haven’t worked, I can see now that part of the reason why, is we didn’t share the same values. We hadn’t taken the time to really get to know one another – to share our values, to discuss our vision of the intended outcome or to agree on goals. If one of you wants to make thousands and the other is happy with a lot less, then problems are bound to arise.
Also when you’re an entrepreneur, one of the reasons you’ve chosen that path is because you want to be in control of your own destiny, so it is not surprising that there are control issues when there are two captains steering the ship, and even more so when there is no real agreement on the end destination!
I’ve written my share of articles on partnerships, and have often joked that I really should read and heed my own advice! Does that mean that I am off partnerships? No. I see real merit in collaboration, in working with like-minded individuals who share a common audience or goal. It actually makes business sense.
But I am more cautious and less likely to get carried away by the excitement of a new idea, a new project. Now I would recommend dating before leaping into a serious business partnership with someone. Work on a mutually beneficial project first, see how it goes and then build on the relationship.
I can’t say I have had the same level of success since starting my own business. People are suspicious – always wanting to know what’s in it for them, and questioning why you would want to partner. Were you going to get more out of it? And when I have partnered, it hasn’t always worked out the way I expected.
When I reflect back on my non-profit days, I realize that apart from wanting the best for our clients, the other common factor we shared was our values. We tended to be working in the non-profit sector because we wanted to make a difference. Earning lots of money was never a draw, which is just as well as the salaries were low.
So when I look at the partnerships that haven’t worked, I can see now that part of the reason why, is we didn’t share the same values. We hadn’t taken the time to really get to know one another – to share our values, to discuss our vision of the intended outcome or to agree on goals. If one of you wants to make thousands and the other is happy with a lot less, then problems are bound to arise.
Also when you’re an entrepreneur, one of the reasons you’ve chosen that path is because you want to be in control of your own destiny, so it is not surprising that there are control issues when there are two captains steering the ship, and even more so when there is no real agreement on the end destination!
I’ve written my share of articles on partnerships, and have often joked that I really should read and heed my own advice! Does that mean that I am off partnerships? No. I see real merit in collaboration, in working with like-minded individuals who share a common audience or goal. It actually makes business sense.
But I am more cautious and less likely to get carried away by the excitement of a new idea, a new project. Now I would recommend dating before leaping into a serious business partnership with someone. Work on a mutually beneficial project first, see how it goes and then build on the relationship.
Wednesday, August 19, 2009
Living life to the fullest
Last night I gave my first public talk about being a breast cancer survivor.
I was nervous about revealing such intimate information and a bit wobbly to start but once I got into my stride, I realized that I do have an important message to convey. In my presentation I described my membership in the cancer club in terms of features and benefits. As most of the women were in business, I figured they would get the correlation.
But what may have surprised them was the fact that there are benefits:-
1. You become more focused. You don’t sweat the small stuff and become more selective on what you do, where you spend your time and who you spend it with. Negative people be gone.
2. You follow your passion – for me it was starting Company of Women and launching our magazine Company last year. Making a difference in the lives of women is important to me. This is my legacy.
3. You learn how much people love you. With all the cards, letters and kind gestures, you feel enveloped in love and caring. It’s like hearing the eulogies but you haven’t actually gone.
4. You take charge of your health. Information is power and for me I adopted a more healthy lifestyle – one that included exercise and regular work outs.
As I said at the end of my speech, ““Each of us finds our own path to survival. No path is every walked the same way twice, but we need not walk alone.”
To me this speaks to life, not just life with cancer.
I was nervous about revealing such intimate information and a bit wobbly to start but once I got into my stride, I realized that I do have an important message to convey. In my presentation I described my membership in the cancer club in terms of features and benefits. As most of the women were in business, I figured they would get the correlation.
But what may have surprised them was the fact that there are benefits:-
1. You become more focused. You don’t sweat the small stuff and become more selective on what you do, where you spend your time and who you spend it with. Negative people be gone.
2. You follow your passion – for me it was starting Company of Women and launching our magazine Company last year. Making a difference in the lives of women is important to me. This is my legacy.
3. You learn how much people love you. With all the cards, letters and kind gestures, you feel enveloped in love and caring. It’s like hearing the eulogies but you haven’t actually gone.
4. You take charge of your health. Information is power and for me I adopted a more healthy lifestyle – one that included exercise and regular work outs.
As I said at the end of my speech, ““Each of us finds our own path to survival. No path is every walked the same way twice, but we need not walk alone.”
To me this speaks to life, not just life with cancer.
KNOW YOUR TARGET AUDIENCE
Michael Dell, founder of Dell Inc, recently shared a story from his early entrepreneurial days. He was sixteen and had landed a job at the local newspaper, selling subscriptions. He quickly realized that the people most likely to buy the newspaper were those who were looking for a home to buy or rent, so he set about getting data on people who had just got married; who were applying for a mortgage and contacted them.
Within a month he was the top salesperson, and made enough money on commission to buy himself a BMW. His high school teacher challenged him when he submitted his tax return as part of the math class. She was positive he was making it up – but no, this was his real income and he was making more than his teacher!
The moral of the story? Do your homework. Think of who would need and benefit from your product or service. Then look at how best to reach those individuals. When you understand your target group, know how they think and feel, then you can tailor your marketing strategies to convert them into customers.
Within a month he was the top salesperson, and made enough money on commission to buy himself a BMW. His high school teacher challenged him when he submitted his tax return as part of the math class. She was positive he was making it up – but no, this was his real income and he was making more than his teacher!
The moral of the story? Do your homework. Think of who would need and benefit from your product or service. Then look at how best to reach those individuals. When you understand your target group, know how they think and feel, then you can tailor your marketing strategies to convert them into customers.
Tuesday, August 11, 2009
Perfection Optional
Some people are born entrepreneurs. Right from an early age they have that entrepreneurial spirit. My daughter was 12 when she started her first business – Kids Klub, running a summer camp for local kids from our street. She learned a lot that summer and really it is not surprising that today she is onto her fourth business.
But not all young people are that enterprising. Take the young lad we hired this summer to try and tame our gardens. It has been interesting to watch him in action. First he was very timid. Not sure what were weeds and what was meant to be there, so he only removed the obvious sinners. Gradually he has become more confident but his approach is still be very much to focus on one area and make it perfect.
Perhaps because I want more instant gratification and I only have a certain amount of time to devote to the task, my strategy has been more wide-spread. I tend to attack and remove all tall offenders so that the overall garden looks OK, rather than having just one section that has been neatly groomed.
It’s just like owning your business, you quickly learn that you can’t just focus on one area and that striving for perfection isn’t necessarily the best survival tactic, as often there are several demands on our time. We don’t have that luxury. As entrepreneurs, we have to multi-task and be able to turn on a dime to deal with issues as they arise.
Our young gardener is an archaeology student, more used to being on a dig and studying his find, rather than making quick decisions about what goes, and what stays. No doubt he will do well in his chosen career.
But not all young people are that enterprising. Take the young lad we hired this summer to try and tame our gardens. It has been interesting to watch him in action. First he was very timid. Not sure what were weeds and what was meant to be there, so he only removed the obvious sinners. Gradually he has become more confident but his approach is still be very much to focus on one area and make it perfect.
Perhaps because I want more instant gratification and I only have a certain amount of time to devote to the task, my strategy has been more wide-spread. I tend to attack and remove all tall offenders so that the overall garden looks OK, rather than having just one section that has been neatly groomed.
It’s just like owning your business, you quickly learn that you can’t just focus on one area and that striving for perfection isn’t necessarily the best survival tactic, as often there are several demands on our time. We don’t have that luxury. As entrepreneurs, we have to multi-task and be able to turn on a dime to deal with issues as they arise.
Our young gardener is an archaeology student, more used to being on a dig and studying his find, rather than making quick decisions about what goes, and what stays. No doubt he will do well in his chosen career.
Monday, July 27, 2009
HOW DOES YOUR GARDEN GROW?
As the novice, albeit reluctant gardener, I often find myself comparing what is happening in my garden with running a business.
Take my lavender. Last year we planted some lavender and I loved it – it grew well, its beautiful aroma filled the summer nights and it had that wild, country look that fitted a farm garden. This year, it is dead, gone, not even one branch has come through. Yet my mint, no matter what I do, is tenacious – it survives, grows, and spreads itself throughout the garden.
In business, you can have a hot item that every one wants but come the end of the season – it’s no longer up there. It’s had its moment in the sun – so to speak – and it is time to give it a rest and find something else or repackage it.
Hopefully every business has its base product or service that continues to bring in the money on a regular basis – a bit like the mint. Although unlike the mint, you do want to control it or it could end up controlling you. But there is this maverick quality to mint in that it spreads and lands where you least expect it. A bit like promoting your business on the Internet, with its global audience, you never know where your “mint” could land and it could end up bringing you in business from far afield.
Talking of the unexpected, there’s also the beautiful flower that survives and blossoms in a bed of weeds, catching you by surprise. All of which goes to say that like the gardener, you have to stay flexible. You never know what will be the “flower” of the year, but you want to be ready so you can take home the prize, and cut your losses when the petals drop and the interest wanes.
Take my lavender. Last year we planted some lavender and I loved it – it grew well, its beautiful aroma filled the summer nights and it had that wild, country look that fitted a farm garden. This year, it is dead, gone, not even one branch has come through. Yet my mint, no matter what I do, is tenacious – it survives, grows, and spreads itself throughout the garden.
In business, you can have a hot item that every one wants but come the end of the season – it’s no longer up there. It’s had its moment in the sun – so to speak – and it is time to give it a rest and find something else or repackage it.
Hopefully every business has its base product or service that continues to bring in the money on a regular basis – a bit like the mint. Although unlike the mint, you do want to control it or it could end up controlling you. But there is this maverick quality to mint in that it spreads and lands where you least expect it. A bit like promoting your business on the Internet, with its global audience, you never know where your “mint” could land and it could end up bringing you in business from far afield.
Talking of the unexpected, there’s also the beautiful flower that survives and blossoms in a bed of weeds, catching you by surprise. All of which goes to say that like the gardener, you have to stay flexible. You never know what will be the “flower” of the year, but you want to be ready so you can take home the prize, and cut your losses when the petals drop and the interest wanes.
Saturday, July 18, 2009
Press One for Service
For weeks now I have been trying to get our dishwasher fixed. One of the “joys” of living in the country, is contrary to popular belief, you’re not alone. Invariably you are sharing your homestead with the critters around you. In our case – a family of mice, who have not only set up home at the bottom of our dishwasher, but chewed their way through the pipes. Needless to say, the dishwasher isn’t working, and hasn’t for some time now.
I discovered the culprits when the service man came – back in early June. He had to order a part and I was to phone in and book a service appointment. Sounds simple.
But no. Every time I phone and do the press 1 for English, press 1 again for service, I get advised that my call is important to them, but I am number 8 in the queue. Now I don’t know about you, but I don’t have time to be on hold while I wait not so patiently to move up to #1. So I hang up, try again later – same thing.
Frustrated with this, and tired of washing dishes, I thought I would email them. Wrong. It bounced back. So then I thought I would send a fax. The number doesn’t work. Meantime, I am still without a functioning dishwasher and who knows another family could have set up house by the time the service guy gets back to put in the new part.
What ever happened to customer service? We have around eight products that are manufactured by Miele – heaven help if any of those go wrong. No, I want to press one and get service.
But I don’t have time to vent … got some dishes to wash.
I discovered the culprits when the service man came – back in early June. He had to order a part and I was to phone in and book a service appointment. Sounds simple.
But no. Every time I phone and do the press 1 for English, press 1 again for service, I get advised that my call is important to them, but I am number 8 in the queue. Now I don’t know about you, but I don’t have time to be on hold while I wait not so patiently to move up to #1. So I hang up, try again later – same thing.
Frustrated with this, and tired of washing dishes, I thought I would email them. Wrong. It bounced back. So then I thought I would send a fax. The number doesn’t work. Meantime, I am still without a functioning dishwasher and who knows another family could have set up house by the time the service guy gets back to put in the new part.
What ever happened to customer service? We have around eight products that are manufactured by Miele – heaven help if any of those go wrong. No, I want to press one and get service.
But I don’t have time to vent … got some dishes to wash.
Monday, July 13, 2009
PLANNING FOR SUCCESS
With hours to kill waiting for my plane at Manchester airport, I bought a few books, one of which was Common Sense Rules: What you really need to know about business by Deborah Meaden. Now Meaden is the UK’s version of Arlene Dickinson on their Dragon’s Den, and from reading her book, I would conclude she is one smart, tough cookie, who has earned a reputation for her straight-talking, no-nonsense approach.
She also raises some important points on making the pitch and getting investors onboard. Just as the title of her book conveys, much of it is common sense. Yet we seem to forget that in our passion to market our business idea.
She observes that entrepreneurs rarely give would-be investors enough information to persuade them to part with their hard-earned money. As she says “today, more than ever, an entrepreneur has to present some pretty compelling reasons for an investor to part with cash, which means presenting a rock-solid pitch as well as some convincing numbers.”
She encourages entrepreneurs to think carefully about how they contact potential investors and what they send by way of introduction. Do your homework and find out who actually makes the investment decisions at a company, she suggests.
Rarely do people get their business plans right, she shares. They either do not include enough information or they don’t include the right information, or it becomes a lengthy document sharing minutia that is of no interest to an investor.
Before ever approaching a potential investor, the business plan needs to be in place. It should be a simple, step-by-step document outlining timescales and milestones, what has to be done in the run up to the launch and what it is all going to cost. What investors, like Meaden, are looking for is something that “outlines in a punchy way what the business is all about, where it is going and what it needs to get there.”
As Meaden concludes, having a business plan is not just for raising money, it keeps you on track and makes you think through all the different aspects of running your business – competition, marketing, financial, etc…
Do you have one? Even if you have been in business for several years, it is not too late to start. You might be surprised at how the process makes you focus and gives you the tools and confidence to succeed.
(You can find business plan templates at www.bdc.ca)
She also raises some important points on making the pitch and getting investors onboard. Just as the title of her book conveys, much of it is common sense. Yet we seem to forget that in our passion to market our business idea.
She observes that entrepreneurs rarely give would-be investors enough information to persuade them to part with their hard-earned money. As she says “today, more than ever, an entrepreneur has to present some pretty compelling reasons for an investor to part with cash, which means presenting a rock-solid pitch as well as some convincing numbers.”
She encourages entrepreneurs to think carefully about how they contact potential investors and what they send by way of introduction. Do your homework and find out who actually makes the investment decisions at a company, she suggests.
Rarely do people get their business plans right, she shares. They either do not include enough information or they don’t include the right information, or it becomes a lengthy document sharing minutia that is of no interest to an investor.
Before ever approaching a potential investor, the business plan needs to be in place. It should be a simple, step-by-step document outlining timescales and milestones, what has to be done in the run up to the launch and what it is all going to cost. What investors, like Meaden, are looking for is something that “outlines in a punchy way what the business is all about, where it is going and what it needs to get there.”
As Meaden concludes, having a business plan is not just for raising money, it keeps you on track and makes you think through all the different aspects of running your business – competition, marketing, financial, etc…
Do you have one? Even if you have been in business for several years, it is not too late to start. You might be surprised at how the process makes you focus and gives you the tools and confidence to succeed.
(You can find business plan templates at www.bdc.ca)
Wednesday, July 08, 2009
DROWNING IN A SEA OF PAPER
Feeling mellow after a week away from the office - no phone, no email, no people… I am not quite ready to settle back down to work. Somehow I want to extend the break from the old routine. So I have decided to declutter my office.
Now this is a major task. We have bets on in the office as to just how long this will take me – but I have allowed a week. While we may be trying to save the trees – I think a forest landed in my office. Where did all this paper come from?
The challenge too is that it has to get worse, before it can get better – so right now you can barely see the floor as I spread out my stuff trying to make some order out of chaos.
Now is not the time to pop in for a visit, although I might be glad of the excuse to have a break. No – I have to keep ploughing on, set up some systems that I might stick to and get myself free.
And it is freeing to get rid of stuff. I remember last year we got a dumpster delivered and I filled it – full. Full of files and papers from committees and boards I’d sat on – but long since left; reports I had written and keeping just in case.
So I have come a long way, but I guess there’s always room for improvement. Must go – the recycling bin is calling.
Now this is a major task. We have bets on in the office as to just how long this will take me – but I have allowed a week. While we may be trying to save the trees – I think a forest landed in my office. Where did all this paper come from?
The challenge too is that it has to get worse, before it can get better – so right now you can barely see the floor as I spread out my stuff trying to make some order out of chaos.
Now is not the time to pop in for a visit, although I might be glad of the excuse to have a break. No – I have to keep ploughing on, set up some systems that I might stick to and get myself free.
And it is freeing to get rid of stuff. I remember last year we got a dumpster delivered and I filled it – full. Full of files and papers from committees and boards I’d sat on – but long since left; reports I had written and keeping just in case.
So I have come a long way, but I guess there’s always room for improvement. Must go – the recycling bin is calling.
Thursday, June 18, 2009
It's a done deal
Putting on a conference is a bit like organizing a wedding. I should know – I did both last year! Both take a lot of planning and forethought to make sure all the right people are invited, meet each other and everyone has fun. But like a wedding, there is a feeling of anti-climax once it is over.
It’s the day after, and we’re surrounded by boxes – leftovers from the event. However, clearly the memory of the day is not over for you and it has been wonderful to hear the feedback from our “guests.” It would appear that everyone did have a good time; that they connected with the right people, and left a little bit more confident, knowledgeable and inspired than when they arrived.
In the interview with CH TV, I was asked why the conference was important. My answer – there’s strength to be gained from hearing each other’s stories – not just the speakers – but the women participating in the conference. We learn so much from each other.
Believe it or not, we’re already thinking about what we can do next year. Hope to see you at the 4th Journey to Success Conference.
It’s the day after, and we’re surrounded by boxes – leftovers from the event. However, clearly the memory of the day is not over for you and it has been wonderful to hear the feedback from our “guests.” It would appear that everyone did have a good time; that they connected with the right people, and left a little bit more confident, knowledgeable and inspired than when they arrived.
In the interview with CH TV, I was asked why the conference was important. My answer – there’s strength to be gained from hearing each other’s stories – not just the speakers – but the women participating in the conference. We learn so much from each other.
Believe it or not, we’re already thinking about what we can do next year. Hope to see you at the 4th Journey to Success Conference.
Monday, June 08, 2009
RECLAIMING YOURSELF
This weekend I went on a retreat with six other women, four of whom I had never met before. So I left Friday feeling a little nervous about how the weekend would unfold, and with my British reserve, not wanting to give away too much of myself.
It turned out to be an amazing experience, as we opened up and shared our lives with one another. There was laughter, there were tears. Five of us owned our own businesses, so we understood the pressures we each faced, while another had gone through hell and back with the demise of a family business.
Even though we didn’t know each other, we were able to reach out and provide support, share words of wisdom and talk about our wishes for the future. But what really struck me was that as quick as we were to tell each other to stop putting ourselves last on the “to do” list, none of us were very good at taking our own advice.
We are all so busy in the fast lane of life, that we forget to slow down and take the scenic route. But this weekend, as we soaked in the beauty of the heron on the lake, the beautiful sunset and the camaraderie of like-minded women opening up to share their truths, we took time to stop, pause and regroup.
We’d put ourselves first for a change, and as someone said, we “walked into lives.”
It turned out to be an amazing experience, as we opened up and shared our lives with one another. There was laughter, there were tears. Five of us owned our own businesses, so we understood the pressures we each faced, while another had gone through hell and back with the demise of a family business.
Even though we didn’t know each other, we were able to reach out and provide support, share words of wisdom and talk about our wishes for the future. But what really struck me was that as quick as we were to tell each other to stop putting ourselves last on the “to do” list, none of us were very good at taking our own advice.
We are all so busy in the fast lane of life, that we forget to slow down and take the scenic route. But this weekend, as we soaked in the beauty of the heron on the lake, the beautiful sunset and the camaraderie of like-minded women opening up to share their truths, we took time to stop, pause and regroup.
We’d put ourselves first for a change, and as someone said, we “walked into lives.”
Monday, June 01, 2009
BE BOLD, BE BRILLIANT
In a recent editorial in the magazine Entrepreneur, Editor-in-Chief Amy Cooper, observed that in today’s economy, brilliance is the new bail out.
She is constantly asked about what is different about starting a business in this economy vs. a non-recession year? Her answer – nothing. As she rightly points out, it still takes a great idea, finances, a business plan, sweat equity and “a level of courage you can’t grasp until you’ve tried.”
However to succeed, she advises, you need to outdo yourself. Now is not time to be cautious, to hunker in and do the “same old, same old.” Now, she suggests is the time to be truly entrepreneurial, to take risks – OK, calculated risks – and as she says “to zig when everyone else is zagging.”
Food for thought.
She is constantly asked about what is different about starting a business in this economy vs. a non-recession year? Her answer – nothing. As she rightly points out, it still takes a great idea, finances, a business plan, sweat equity and “a level of courage you can’t grasp until you’ve tried.”
However to succeed, she advises, you need to outdo yourself. Now is not time to be cautious, to hunker in and do the “same old, same old.” Now, she suggests is the time to be truly entrepreneurial, to take risks – OK, calculated risks – and as she says “to zig when everyone else is zagging.”
Food for thought.
Monday, May 25, 2009
Just ask
This week we had two exciting panels of women sharing their business success stories. As they all shared the ups and downs of their business ventures, it struck me that men probably wouldn’t do this.
I mean if they can’t ask for directions, what makes us think they would bare their business souls to an audience of peers. Not likely. Yet there is something to be gained when you share your truths. For one, the audience appreciate and value more what you have to say when you are being honest and upfront. You seem more real and people are more likely to remember you and want to support you in the future.
But it is a fine line. We need to be selective on who we share the facts about our business. After all, if things are not going well, telling the world isn’t likely to make it any better, in fact it may speed up the demise of your business.
These are scary times for many businesses. Everyone is working hard to keep the financial wolves from the door. As women, we are good at asking for help and seeking advice from experts is a good idea. Reaching out and getting their input can help you turnaround a worrisome situation. Often an outsider looking in, can offer an objective perspective and solution.
One success strategy shared by all our panel members was that when they needed help, they went out and got it. As business owners we can’t expect to be good at everything, know your strengths and recruit others to cover off those other areas that test your patience. You may even be able to trade and barter services so it doesn’t cost you to obtain the help you need to build and grow a successful business.
If you always do what you’ve always done, you will always get what you’ve always got.”
I mean if they can’t ask for directions, what makes us think they would bare their business souls to an audience of peers. Not likely. Yet there is something to be gained when you share your truths. For one, the audience appreciate and value more what you have to say when you are being honest and upfront. You seem more real and people are more likely to remember you and want to support you in the future.
But it is a fine line. We need to be selective on who we share the facts about our business. After all, if things are not going well, telling the world isn’t likely to make it any better, in fact it may speed up the demise of your business.
These are scary times for many businesses. Everyone is working hard to keep the financial wolves from the door. As women, we are good at asking for help and seeking advice from experts is a good idea. Reaching out and getting their input can help you turnaround a worrisome situation. Often an outsider looking in, can offer an objective perspective and solution.
One success strategy shared by all our panel members was that when they needed help, they went out and got it. As business owners we can’t expect to be good at everything, know your strengths and recruit others to cover off those other areas that test your patience. You may even be able to trade and barter services so it doesn’t cost you to obtain the help you need to build and grow a successful business.
If you always do what you’ve always done, you will always get what you’ve always got.”
Tuesday, May 19, 2009
Making the Pitch
“First you have to sell yourself, then your product,” advised Diane Buckner at the recent Coliseum competition at the Rotman School of Management. Buckner, who is host of Dragon’s Den and Fortune Hunters, knows a thing or two about making successful pitches and was the moderator for the event.
There were five finalists and each had five minutes to make their case. Like Dragon’s Den, there were three judges – successful entrepreneurs who knew all about making a business succeed.
It was interesting to watch each presentation, and even more interesting to see the outcome. The winner had a unique product, which if it is well-marketed and positioned right, could do really well. Although it didn’t appear that he’d done much math in working out the costs of this venture. But his concept captured the judges’ attention and everyone likes to be part of something new.
The runner up excelled at showing her passion and it was her ability to sell herself, that sold the panel on her business concept but again the important number-crunching wasn’t evident.
Yet, the person who got “honorable mention” was the one, in my opinion, who truly did the best presentation, she knew her figures, had clearly a solid business plan, but somehow didn’t sway the panel with her idea.
As for the other two finalists – all I can say, is don’t give up your day job!
In looking at the results, it becomes clear to me that none of us really knew or understood what the criteria was for selecting the winner. The audience got one vote, so it would have been helpful to know what the judges were looking for as then we could have all been on the same page.
One lesson to take away from this is just as Buckner said, if you can demonstrate your passion for your product, it will take you a long way. “
There were five finalists and each had five minutes to make their case. Like Dragon’s Den, there were three judges – successful entrepreneurs who knew all about making a business succeed.
It was interesting to watch each presentation, and even more interesting to see the outcome. The winner had a unique product, which if it is well-marketed and positioned right, could do really well. Although it didn’t appear that he’d done much math in working out the costs of this venture. But his concept captured the judges’ attention and everyone likes to be part of something new.
The runner up excelled at showing her passion and it was her ability to sell herself, that sold the panel on her business concept but again the important number-crunching wasn’t evident.
Yet, the person who got “honorable mention” was the one, in my opinion, who truly did the best presentation, she knew her figures, had clearly a solid business plan, but somehow didn’t sway the panel with her idea.
As for the other two finalists – all I can say, is don’t give up your day job!
In looking at the results, it becomes clear to me that none of us really knew or understood what the criteria was for selecting the winner. The audience got one vote, so it would have been helpful to know what the judges were looking for as then we could have all been on the same page.
One lesson to take away from this is just as Buckner said, if you can demonstrate your passion for your product, it will take you a long way. “
Monday, May 11, 2009
THERE'S STRENGTH IN SHARING
This week I was in Ottawa meeting with women from the Atlantic Provinces who run women’s business organizations in their cities. It was exciting to connect with them, explore how we can work together and to realize that really it doesn’t matter where you are in Canada, the issues are often the same.
What I really liked about the discussions was that we were all being honest, sharing in a genuine way and wanting to support each other. There wasn’t any sense of competition, just an attitude of abundance and mutual respect. What more can you ask for?
And in the months ahead we plan to continue the dialogue and share best practices, so that we can all offer the best possible service to women entrepreneurs in our province.
How often do you meet up with others in your sector? You might be surprised at what you can learn from each other when you drop the competition and are open to some real conversations.
What I really liked about the discussions was that we were all being honest, sharing in a genuine way and wanting to support each other. There wasn’t any sense of competition, just an attitude of abundance and mutual respect. What more can you ask for?
And in the months ahead we plan to continue the dialogue and share best practices, so that we can all offer the best possible service to women entrepreneurs in our province.
How often do you meet up with others in your sector? You might be surprised at what you can learn from each other when you drop the competition and are open to some real conversations.
Monday, May 04, 2009
Do you want to compete with the big guys?
On Monday I attended the Toronto launch of WEConnect Canada, a new organization to Canada, but WEConnect is well-established in the US, UK and India.
What is WEConnect? It is a non profit organization that provides the mechanism to certify women business owners so that they are eligible to compete for tenders issued by the large Fortune 500 companies. Many of the large corporations in the US, have diversity policies whereby they have to give a quota of contracts to women-owned businesses.
In Canada, WEConnect is working to establish a similar program and is actively recruiting companies such as IBM, BMO Financial Group, Accenture, Cisco and more. What does this mean to you?
Becoming certified opens doors for you and gives you the opportunity to compete with the big guys. One of the advantages of being a small business, is we're nimble, we're not bogged down in bureaucracy and rules which can be appealing to the large corporation that wants instant results.
One of the women whose company became certified through WEConnect just this month, has already received overtures from a large American corporation. This is exciting stuff and I encourage you to look closely at how you can get involved.
Check the website at http://www.WEConnectCanada.org
What is WEConnect? It is a non profit organization that provides the mechanism to certify women business owners so that they are eligible to compete for tenders issued by the large Fortune 500 companies. Many of the large corporations in the US, have diversity policies whereby they have to give a quota of contracts to women-owned businesses.
In Canada, WEConnect is working to establish a similar program and is actively recruiting companies such as IBM, BMO Financial Group, Accenture, Cisco and more. What does this mean to you?
Becoming certified opens doors for you and gives you the opportunity to compete with the big guys. One of the advantages of being a small business, is we're nimble, we're not bogged down in bureaucracy and rules which can be appealing to the large corporation that wants instant results.
One of the women whose company became certified through WEConnect just this month, has already received overtures from a large American corporation. This is exciting stuff and I encourage you to look closely at how you can get involved.
Check the website at http://www.WEConnectCanada.org
Monday, April 27, 2009
BUILDING WALLS
This weekend a group of people were taking a dry wall stone building course at our farm. They were a diverse crew –men and women - from across South-Western Ontario, all there to learn the dying art of building a dry stone wall. It was fascinating to watch (I was the chief cook and bottle washer) as a symmetrical stone wall emerged from the rubble of stones we had collected from across the property.
Over dinner, the teacher, John, was explaining that it takes a certain personality to build a wall. For the perfectionist, it can be an exercise in frustration as there isn’t a scientific formula to getting the wall right and sometimes you have to select the less-than-perfect stone. But he added, “for the cowboys” who just think they can stick a stone anywhere, there are lessons to be learned as they find they can’t be quite so casual about the whole process.
John also observed that people who get into wall-building are often musicians, writers and other creative types who see the wall as a work of art – something beautiful to be created out of stone.
Apparently he’s been approached about using wall-building as a team-building exercise and you could see how that could be very effective. People had to learn to work together, to listen to each other’s opinion, and not always be right.
Likewise, it struck me that there were some lessons for business owners too on the importance of being flexible. If you are hell-bent on being right all the time; on sticking to one course of action, it likely won’t always work to your favour. So an element of going with the flow makes sense. Now if you’re so laid- back that anything goes, like the cowboys, then you run the risk of losing your focus and offering a shoddy product or service.
The other lesson learned this weekend is the value of bartering; of forming strategic alliances. Sixteen people gathered at our place to build a wall, in return, all we had to do was feed and water them! Pretty good deal I would say and now we have a beautiful wall and some new friends.
Over dinner, the teacher, John, was explaining that it takes a certain personality to build a wall. For the perfectionist, it can be an exercise in frustration as there isn’t a scientific formula to getting the wall right and sometimes you have to select the less-than-perfect stone. But he added, “for the cowboys” who just think they can stick a stone anywhere, there are lessons to be learned as they find they can’t be quite so casual about the whole process.
John also observed that people who get into wall-building are often musicians, writers and other creative types who see the wall as a work of art – something beautiful to be created out of stone.
Apparently he’s been approached about using wall-building as a team-building exercise and you could see how that could be very effective. People had to learn to work together, to listen to each other’s opinion, and not always be right.
Likewise, it struck me that there were some lessons for business owners too on the importance of being flexible. If you are hell-bent on being right all the time; on sticking to one course of action, it likely won’t always work to your favour. So an element of going with the flow makes sense. Now if you’re so laid- back that anything goes, like the cowboys, then you run the risk of losing your focus and offering a shoddy product or service.
The other lesson learned this weekend is the value of bartering; of forming strategic alliances. Sixteen people gathered at our place to build a wall, in return, all we had to do was feed and water them! Pretty good deal I would say and now we have a beautiful wall and some new friends.
Monday, April 20, 2009
SPRING CLEAN UP
With the great weather this weekend, I had no excuse about getting out in the garden. Now I have to confess, gardening is not my favourite pastime, but the spring clean up was calling me whether I wanted to do it or not.
And I have to say I did procrastinate a bit – you know - found other things to do that were suddenly pressing; called my cousin for a long chat, you name it – I tried to do it. But eventually I had to get out there and start raking those leaves we left in the fall with the theory that they would nourish the earth. Hmm right. There seemed to be an awful lot of them.
Now I don’t want this to get out.. but I quite enjoyed the physical labour of getting the garden in a bit more in order. Like your office or your wardrobe, there is something freeing about getting rid of clutter – be it paper, clothes or leaves. And if you are realistic on what you can achieve in the time allotted, there can be a sense of accomplishment.
Just as in life and business there are tasks we want to avoid, sometimes it is better to just parcel off small portions of time – the Swiss cheese approach – so you are not so overwhelmed and you are moving forward.
But let’s not get too carried away with my new-found enthusiasm for the great outdoors; otherwise who knows, I could get roped into weeding next. Heaven forbid.
And I have to say I did procrastinate a bit – you know - found other things to do that were suddenly pressing; called my cousin for a long chat, you name it – I tried to do it. But eventually I had to get out there and start raking those leaves we left in the fall with the theory that they would nourish the earth. Hmm right. There seemed to be an awful lot of them.
Now I don’t want this to get out.. but I quite enjoyed the physical labour of getting the garden in a bit more in order. Like your office or your wardrobe, there is something freeing about getting rid of clutter – be it paper, clothes or leaves. And if you are realistic on what you can achieve in the time allotted, there can be a sense of accomplishment.
Just as in life and business there are tasks we want to avoid, sometimes it is better to just parcel off small portions of time – the Swiss cheese approach – so you are not so overwhelmed and you are moving forward.
But let’s not get too carried away with my new-found enthusiasm for the great outdoors; otherwise who knows, I could get roped into weeding next. Heaven forbid.
Monday, April 06, 2009
Validation
Talk about extremes. I went from a relaxing break in Florida, soaking up the sun to hopping on a plane to attend the Oakville Awards for Business Excellence where it was announced that I had won the Entrepreneur of the Year Award. Now that sure gets your adrenalin going! I am still on a high.
Over the years I have been fortunate to receive several awards, but this one is different, and I've been reflecting on why it means so much to me. It reminds me of the time when Sally Fields won an Oscar and she said "you like me, you really like me"
Like many of us, I have my moments of self-doubt too, when I question what I am doing and whether I am just kidding myself with this business. Now a group of professionals and peers, that I admire, have recognized my work, my contribution and my leadership. I feel validated.
But there are other factors kicking in - this award goes beyond me. As a woman entrepreneur representing and supporting other women entrepreneurs, the award represents recognition of the vital role women play in today's economy. Women can, and do, run successful businesses. It's no longer the "old boys club" - in fact we have our own - and it's called Company of Women.
So let's celebrate.
Over the years I have been fortunate to receive several awards, but this one is different, and I've been reflecting on why it means so much to me. It reminds me of the time when Sally Fields won an Oscar and she said "you like me, you really like me"
Like many of us, I have my moments of self-doubt too, when I question what I am doing and whether I am just kidding myself with this business. Now a group of professionals and peers, that I admire, have recognized my work, my contribution and my leadership. I feel validated.
But there are other factors kicking in - this award goes beyond me. As a woman entrepreneur representing and supporting other women entrepreneurs, the award represents recognition of the vital role women play in today's economy. Women can, and do, run successful businesses. It's no longer the "old boys club" - in fact we have our own - and it's called Company of Women.
So let's celebrate.
Monday, March 23, 2009
BE CAREFUL WHAT YOU WISH FOR
Just recently I started a LinkedIn Group for Company of Women. At the time, it seemed like a good idea and one that might generate some useful discussion and dialogue between women business owners.
I would love to say that I gave it a lot of thought, that I had carefully crafted my long term goals and had a vision for the group, but I would be lying. It was one of those hasty, why-not decisions. I had the time, was just mastering how LinkedIn worked and what the heck… what’s the worst that can happen?
Well… three weeks later, as our group has rapidly expanded to 83 women, I am now realizing that there’s some truth to the expression – be careful what you wish for.
Now, don’t get me wrong, it is exciting to see this immediate response, my challenge is more what to do with this captive audience. How can I make this group work well, and provide a vehicle for productive discussion, without increasing my workload three-fold?
My decision – I am going to throw it back to the group – who better to tell me what they want to discuss and get out of the process
So if you want to be part of an exciting new discussion group – check us out. Better still, join us and share your views. It’s http://www.linkedin.com/e/vgh/1795964/
At this point my competitive gene is kicking in and I want to make our group the best ever!
I would love to say that I gave it a lot of thought, that I had carefully crafted my long term goals and had a vision for the group, but I would be lying. It was one of those hasty, why-not decisions. I had the time, was just mastering how LinkedIn worked and what the heck… what’s the worst that can happen?
Well… three weeks later, as our group has rapidly expanded to 83 women, I am now realizing that there’s some truth to the expression – be careful what you wish for.
Now, don’t get me wrong, it is exciting to see this immediate response, my challenge is more what to do with this captive audience. How can I make this group work well, and provide a vehicle for productive discussion, without increasing my workload three-fold?
My decision – I am going to throw it back to the group – who better to tell me what they want to discuss and get out of the process
So if you want to be part of an exciting new discussion group – check us out. Better still, join us and share your views. It’s http://www.linkedin.com/e/vgh/1795964/
At this point my competitive gene is kicking in and I want to make our group the best ever!
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