Inaugural Message for Women Entrepreneurs
An economic message for New York State women entrepreneurs on Inauguration Day 2013
Today is a day of great hope as the President of the United States gets sworn into office. No matter what political party you belong to or what beliefs you have, today is a day of optimism and celebration for the future.
I see signs all around me that 2013 will be a great year for women entrepreneurs. Here’s what I see:
* Women entrepreneurs still maintaining and growing their companies in a staggering economy.
* New York State Governor Andrew Cuomo working on exciting legislation regarding women’s equality in the workforce.
* The government focused on awarding more government contracts to woman owned, and minority owned businesses in 2013.
Women indeed have a bright year and future ahead!
My inaugural message to you as this new business year gets underway is to buy from as many women owned companies as you can this year and to share the Women TIES message with others.
Women TIES exists to help women entrepreneurs all over New York State market their companies to other women committed to creating a stronger economic marketplace for themselves and women across the state. Together we believe in the buying and selling power of women and believe we can make an impact in shaping the economic future for women by our buying practices today.
I invite you become a member of our growing organization and attend a multitude of state-wide events Women TIES is producing this year where you can:
* Market your company all year long on our popular website
* Connect with other women through our social media marketing sites
* Sell products and services online and at our events to increase sales
* Market yourself as a speaker and expert in your field to earn revenue
* Learn vital business topics to help grow your company at 50 annual events
* Become a certified woman-owned business with the government
* Be inspired by other women who are succeeding at various entrepreneurial levels.
Women TIES is here every single day of the year in some way to inspire and educate you through our popular daily blog, regional events, online marketplace and more!
I hope you enjoy today’s special inauguration of President Barack Obama and contemplate the brilliant future Americans have – especially women entrepreneurs.
Reputation Management Strategies for Entrepreneurs
Business Advice for Small Business and Women Entrepreneurs
Everywhere you turn recently, you see or hear about Lance Armstrong. As an entrepreneur, I haven’t been fascinated by whether Lance is telling the truth or lying about doping to win cycling races, I’m mesmerized by the reputation management strategies this story is producing.
As entrepreneurs, we must realize we represent not only ourselves but our companies. Lance Armstrong didn’t just represent himself; he represented his team, the cycling industry and the Live Strong Foundation. So when an individual – whether they are a business owner, government official or famous cyclist – is viewed as dishonest in the public eye, reputation management strategies are vital to implement.
Here’s useful reputation management strategies small business owners or entrepreneurs can use when faced with a public crisis. The presentation was given Gwen Weber-McLeod of Gwen, Inc. at one of my Women TIES events.
• A comprehensive reputation management campaign typically involves creating a plan that involves media placement, public affairs communications, and speaker placement. Although a large comprehensive plan may seem overkill to a one person business, learning more about what a comprehensive campaign consists of can help focus on, and utilize key elements of a campaign for your smaller enterprise.
• If the crisis has gone public opposed to it being a private issue between you and two parties, you might need to create appropriate press releases and reach out to journalists. Know how to prepare press releases or find a company who can create them for you. Create a media list and keep it on file. Make sure your release truly tells the story, without the superficial information that lands some press releases in the garbage.
• When a crisis erupts, equally important to external public communication, is internal communication to people in our organization and close external associates. Every person affected by your organization – your staff, your customers, your vendors, your bankers, your community – will be impacted by your business decisions. Consider the methods in which you’ll communicate with key constituents if a crisis occurs. Create a list of important people and their contact information. Keep it on file. Make sure you select the best tools for reaching them (phone, email, letter, social media, etc.).
• Sometimes you will need to deliver your message in person. Words look good on paper but how do they sound to a skeptical audience? Make sure you draft clear, concise and compelling speeches. Consider hiring a PR consultant if you need assistance with speech writing or delivery.
Entrepreneurs should use the Lance Armstrong story to create a reputation management strategy they can implement if any crisis arises.
Monetary Benchmarks
Business Advice for Women Entrepreneurs
A few years ago one of our presenters at a Women TIES event asked an audience of women to write down a gross sales figure they hoped to achieve one day. The answers in the room ranged from $100,000 to $250,000 to 1 million dollars. Everyone had a different answer. Everyone had a benchmark figure in mind.
Then the presenter asked everyone to add a zero to the end of the first figure, prompting us to think even bigger than we had a moment before. She explained to the audience in order to produce a higher sales goal, we needed to look at the figures on a daily basis so the goal was always visible.
She then asked, “Are you charging what you are worth to start achieving the two sales goals in front of you?” The rest of the presentation was focused on making sure we weren’t under valuing our worth or undercharging our products and services or we simply wouldn’t achieve the lofty figures.
Of course in order to increase sales significantly, it takes more than just charging more for services, it usually takes adding staff, obtaining financing to invest in physical structure or products to grow, and working with advisors to prepare us for bigger clients and contracts. But starting to envision and plan for a bigger enterprise is essential for future development.
For some women entrepreneurs its takes ten years to hit the $100,000 sales mark, for others 7 years to hit the 1 million dollar mark, for others already with a plan and structure in place they can add an extra million in sales in one year. All do it with a determined goal and plan.
Today’s post is meant to inspire you to write down a number right now that is your sales benchmark for this year. It doesn’t matter what it is but it should be the figure you want to achieve. Put it on a post-it-note and put it on the corner of your computer. Then add a zero to that number on another post-it-note and place it on the other corner of your computer. Look at the figures every morning so subconsciously and consciously you are working towards higher revenue goals.
Take time while you’re working towards making adjustments like charging what you’re worth, to also be inspired by women who have achieved higher revenue goals and are willing to share how they attained their benchmark. Trust me their advice will be priceless and highly motivational.
Handling Difficult Business Moments
Advice for Women Entrepreneurs
Fifteen minutes before the start of a large annual conference, the meticulous event planner was told by the venue spokes person, an important component of her late morning panel presentation was missing. Although the missing lapel microphone seemed like a small detail to the venue, its absence was a big deal for the planner who had promised individual microphones for her esteemed panelists and for the camera crew taping the panel discussion for a television show. She knew the quality of the panel program would be comprised without every panelist having their own microphone.
With only 15 minutes before the beginning of the important conference, the event planner gave up trying to resolve the issue. With no suggestions to correct the situation from the venue and with 200 attendees to address, she resolved to go on without the extra microphone and handle the situation with the venue after the event was over. Before addressing the large crowd, she took a brisk walk outside in fresh autumn air to clear her frustrated mind.
Surprising situations can occur in business. Entrepreneurs can face unexpected upset clients, employees who demonstrate embarrassing behavior, difficult vendor relationships and even problems with perfectly planned events. In these situations, a professional public relations approach must be taken by the entrepreneur.
Here are some tips for handling difficult unexpected situations that can arise in business:
* Deliver clear, honest and direct communication with another party about expectations that are not being met. Try to keep emotions at bay. Be concise about what has occurred and what action needs to be taken to have the situation corrected.
* If a situation cannot be resolved on the spot, handle the problem as soon as possible after it occurs. Don’t let too much time pass before having a conversation in person or on the phone about the occurrence. Follow up conversations you have about troubling situations in writing.
*Understand and accept your role in the difficult situation. Be honest with yourself about other action you could have taken to remedy the situation.
Entrepreneurs should set high standards for their staff, vendors and corporate functions as long as they realize on occasion when alarming situations arise they demonstrate a calm composure. If a little extra help is needed to resolve fiery moments, a quick, brisk walk with reaffirming thoughts can instill the clarity and serenity needed to move past the difficult moment.
Competition is A Good Thing
Competition is a word most women entrepreneurs are not comfortable with. Although we want to own a piece of the market, increase our annual sales and hopefully grow our businesses to the million dollar mark and beyond, we are not comfortable “competing” against others. It’s not in our traditional feminine spirits to beat someone else.
This past summer as Olympic swimmers Missy Franklin and USA gymnastics teams competed for gold in the 2012 London Olympics, their triumphs and tribulations provide insight as a “competitive” woman entrepreneur today. Their high hopes, triumphant celebrations, disappointing personal performances and pure grit resonated with my 17 year journey as a business owner. I have certainly felt the pleasure and pain along the way just like these athletes have in their journeys.
The Olympic Games provide excellent business wisdom for today’s entrepreneur – especially the subject of competition.
We Can Lose By the Smallest Margins – Olympic gold, silver and bronze medals are won by the smallest fractions of time. Who wins and loses can be determined by one half of a second. The Olympic competitors don’t know whether their athletic performances are good enough for gold until they look at the scoreboard. Entrepreneurs on the other hand have the advantage of conducting competitive research anytime to see where they are priced and positioned. If you are worried about your competitive edge, conduct competitive research to discover your position in the marketplace.
Embrace Competitors – The swim and gymnastic teams are constantly competing against their own teammates and other competitors. The most successful athletes embrace their competitors understanding their value to propel them towards their own victory. If you are threatened by competitors in the marketplace, look to these elite athletes to learn how to embrace competition to propel your business further.
Disappointment Makes You Stronger – Olympic athletes train most of their lives for one shot at gold. Blood, sweat and tears are poured into every day, year upon year. When the chance comes to finally compete in the Olympic Games, some fail to reach their goal. Television shows highlight their heartache. But the next time the fallen athletes have to perform, they put the loss behind them and become more determined to win. Entrepreneurs can learn from this powerful lesson when business disappointments like losing a major client or letting employees go causes heartache. Learn to put the loss behind you and try again.
Business Reinvention or Not?
Should a Business Reinvent Itself?
It seems everywhere you turn everyone is into reinvention.
The Syracuse Post Standard announced it is stopping its 182 year tradition of 7 days a week home delivery, returning its headline font back to a style of yesteryear and increasing its online presence.
Cyclist Lance Armstrong has stopped fighting doping charges in hopes of being able to race as a respected triathlon athlete in the future and has scheduled a rare interview with Oprah.
Target announced it is committed to matching all Amazon prices in their stores starting this month to avoid losing substantial revenue to an online discount supplier.
As a new business year starts entrepreneurs should contemplate if their business should be reinvented; and if so in what ways. There might be core components that should never change but there could be elements that need to be changed. Transformation is never easy; ask anyone who has ever tried to lose weight, start a new exercise regimen, or quit smoking. We resist reinvention in many ways until we force ourselves to stop and realize we must change for the better. It’s the same way with business practices.
Today’s blog post is to encourage you to take time this month to truly focus on what needs reinventing in your business before you move any further. Slow down and stop if you have to make alterations. It could be a new accounting system, hiring a business coach, committing to perform sales calls every day or changing pricing. Also, The Syracuse Post Standard, Lance Armstrong and Target all did the same thing – they made important changes and then announced the changes. Make sure you do the same with customers and associates if you create major changes in 2013.
There seems to be no time like the month of January to reinvent parts of our business or personal habits that hold us back from big results. January is the one magical month that allows us to review, focus and then refocus our attention or actions to make both small and big impactful changes in our companies.
National Marketing Advice For Small Business Owners
I was recently asked this question by a Syracuse entrepreneur: “I want to gain some national media attention for my company. Do you have any sources you use?”
Since I’ve been a contributing columnist for the Syracuse Post Standard for 10 years as “Ask the Entrepreneur,” I responded with this answer:
I applaud you for thinking of ways to promote your company on a national basis. Entrepreneurs should think big when marketing their companies.
I have used Help-A-Reporter-Out (HARO) for the past five years. According to its website, “HARO brings nearly 30,000 reporters and bloggers, over 100,000 news sources and thousands of small businesses together to tell their stories, promote their brands and sell their products and services.”
There is no cost to subscribe to HARO. Once you sign up, you’ll receive three email inquiry lists per day. If you see a listing that applies to your business, simply submit a short response. If you are chosen for a story, a reporter will get in touch with you. Like anything else, you’ll “pitch” more than you’ll be contacted.
I recently responded to a question about the moment I knew my company was successful and was featured in Inc. I discovered I was featured because my website hits went through the roof. I noticed the hits were coming from one source: inc.com/john-brandon/when-7-entrepreneurs-knew-they-were-successful.html. So my small investment of time to respond to one HARO inquiry was really beneficial.
I suggest you learn more and sign up at helpareporterout.com. Good luck, and let me know if you receive national media attention. I hope you do!
Event Marketing Advice
As I stood in my garage during a recent cleaning chore, I flashed back to 1971 when I was seven years old conducting my first event. The event was a fundraising carnival for Muscular Dystrophy held in my garage. I remember recruiting my friends to create carnival booth activities like fortune telling and the clothes pin drop. I made jello and lemonade to serve guests. Then I knocked on doors to invite neighbors to the festivities. Little did I know, it was the beginning of my forty year event planning career. The “thank you” certificate signed by Jerry Lewis for raising $150 dollars at my carnival was a prized possession for years.
For the past twenty seven years I have planned forty events annually to promote my own events or my client’s companies with my two companies Women TIES and Five Star Events. Entrepreneurs looking for unique ideas to market their companies should consider producing events. Below are three event planning tips to help you get started.
Create the Right Event
What type of events do you want to plan in 2013? You’ll need at least 3-9 months to plan and promote the event depending on the size and scope of the occasion. Begin with a mission for the event. The mission could be to thank customers, to raise awareness of a new product/service or to celebrate a milestone. Some events to consider are: conferences, seminars, dinner functions, fundraising programs or an open house.
If you don’t want to produce an event on your own, create an event with another company to share expenses, marketing outreach and responsibilities. Think about complementary businesses that could benefit from hosting and cross promoting events with your business.
Create Event Planning Timelines
Successful events require exceptional organizational skills. My favorite tool is a detailed event timeline. A timeline is basically a “to do list” with dates. The timeline takes details out of your mind and puts them on paper to make an event more manageable and less stressful. Search Google for event timeline samples and personalize one for your next occasion.
Create Events with Your Guests in Mind
Always start the event planning process by envisioning what you want your guest to feel when they leave your event. Imagine what they will say, what they saw and what they experienced; and then plan your event from that perspective. You want your guests to leave happy and ready to spread the news about your company to others.
Remember you don’t have to be Jerry Lewis (or an energetic young girl throwing a carnival in her garage) to create memorable and meaningful events. You just need to be focused and organized with your customer’s contentment in mind.
“Absolutely” Great Customer Service
I was on my way to an important out-of-town doctor’s appointment when I realized I left my house without important documentation from my Internist. With only twenty minutes until the appointment, I called my Internist’s office hoping someone could assist me. When the receptionist heard my urgent plea she said, “Mrs. Higginbotham of course I can fax that information to the doctors right now.” Relief washed over me.
After the appointment, I wondered how often during the business year entrepreneurs soothe their customer’s minds by saying “Absolutely I can take care of it for you right now.” A positive statement like this one might dramatically improve a customer’s day, create a loyal client for life or provide a flattering verbal testimonial for a company.
Sometimes when entrepreneurs become too consumed with running their enterprises, checking their task lists and completing urgent deadlines, they forget customers are the most important element of their business. If you’re looking for some new customer service advice for 2013, take a look at a few of my favorite policies:
* Always pick up the phone and call disgruntled customers as soon as you learn of problems. Don’t rely on email communication to solve the issue. Customers want to know someone is listening to their complaint. Although the phone call may be difficult, you’ll fix the problem more effectively by placing the call.
* Be proactive about helping customers as often as you can. A solo entrepreneur has more opportunities to know their customers better. If a business lead, new product or sales opportunity can assist a current client, reach out and provide the information to demonstrate your interest in their business success. They will remember the gesture and speak highly of your company in the community.
* Create a 100% guarantee policy on products and services. A guarantee lets your customers know they can count on your corporate promises. Delivering on what is promised and easing customer worries no matter what tells your clients you are reliable and dependable.
Remember sometimes a sincere one line statement like, “Absolutely I can do that for you right now” can make your clients feel they are your number one priority. What’s better than that?
Becoming and Promoting Yourself as an Expert in 2013
I opened the first email of the year from a woman entrepreneur who belongs to my company Women TIES. She asked me this question:
“Every year it seems more entrepreneurs are gaining media attention by writing for local newspapers. When I opened my paper today, I saw a new fitness expert discussing her assignment to keep readers on track for a healthier New Year, two financial advisors with a new monthly money column, and a local event planner providing festive tips for yearlong special occasions. How can I position myself as an expert?” I love the fact that this woman is starting the year off with a new and larger vision for herself. Embracing a new vision entails acknowledging what you see, learning more about what the image encompasses and making the new concept a priority.
I became an expert in the women entrepreneur’s field in 1996 when women entrepreneurship was on the rise and not many women were business owners. I had the vision to be a spokesperson for the field. I had to begin by recognizing my expertise in the area, positioning myself in the community as an authority in the subject and then letting everyone know my platform and message.
Any woman entrepreneur can start this climb to recognition by following this advice:
* Start by reviewing your resume or profile, including your education, interests and career. Clearly define what you’ve learned. Write down everything you’ve known or done within several expert fields. When you are finished, choose one or two expert areas you want to market.
* Begin growing your platform by creating main messages to communicate to your audiences. Your platform should be clear, concise and contain a call to action to generate interest in you and your expert area.
* Once your platform is established, follow the news and contact media to be a source of information in your field. Grow your following by using social media marketing to promote your platform through posts and videos. Reach out to local, state or national organizations for speaking or writing opportunities.
The New Year offers women entrepreneurs the ability to reach for higher personal and professional goals. Becoming an ‘expert’ is just one way to achieve new heights within your entrepreneurial career.
Women TIES 