Negotiating Skills
Unit D47 had a penthouse view with the highest quality furniture. Unit A43 had an astounding ocean view but one less bedroom. Unit C22 had the lowest price and 100% guest approval ratings but was farthest from the ocean. The difficulty in making a decision on the perfect vacation condo was complicated by the pros and cons of each unit.
Thrown into making the decision even more difficult was the negotiating skills of the condo owners. Some were willing to give a complimentary night upon signing. Others were willing to discount the price by one night if we signed immediately. A few others with the best location wouldn’t budge on price or dates. Having always been attracted to the best deal, with the best customer service provider, made booking this vacation complicated. There wasn’t one clear winner – the one perfect condo with the perfect view with the perfect price. Something had to give and that’s where my Wednesday Wisdom lesson comes from today.
I think we forget there is power in negotiating. There can be great satisfaction in discussing and settling on something that works for both parties. But often times, we don’t like to ask for a better price, a longer deadline, a better deal. We either walk away hating to ask or we take what is offered without asking for concessions. What type of women entrepreneur are you? Are you willing to make deals, and ask for deals, or not?
In this economy, should we make negotiating a priority in both our personal and professional lives? If you are someone who typically doesn’t negotiate, should you start asking for a better price deal from certain vendors? Could you be more lenient with client payment schedules or deadlines if they ask? Should you be searching, comparing and purchasing products and services based on the best deal you find to save money?
Today’s blog is to encourage you to think about negotiating benefits. Consider making a list of items in your personal and professional life where using better negotiation skills could help your bottom line or get you what you want. If asking for a better deal seems difficult, figure out why and make the changes necessary to become more comfortable with negotiating. You might be surprised at the flexibility you have or others have to make a deal happen today.
Bottom line we all have to draw a line in the sand on where we stand with pricing and offerings. I hope by developing better negotiation skills you are able to draw a line in the white sand on the best vacation deal you’ve made or with the extra money you’ve earned making smarter deals with clients and vendors.
177 Days Left To Hit Business Goals
It’s hard to believe 188 days ago, we were celebrating the first day of the year. When we looked out the windows the ground was covered in white, a heavy coat and warm boots sat near the door, the furnace was turned on high, and a hot cup of coffee helped us get through the morning. Half a year later, the view out the window is green, a light weight top and sandals adorn our bodies, a fan keeps us cool and an iced cappuccino aids us each dawn.
188 days have also passed since we set New Year’s resolutions for ourselves and a new annual plan for our company. Maybe it’s the happiness of the holidays, the freshness of a new beginning, or the clean slate of a new year, that makes us optimistic about our 365 day future. You know the feeling, the invincible feeling, and limitless possibilities that abound in our minds on January 1st. We feel we can accomplish anything. We commit to working harder. We challenge ourselves to make more money. We vow to take our companies one step higher.
Half way through the year, it’s wise to stop and analyze where we’ve been and what we’ve done. First of all, do we have the same energy, vision and enthusiasm as we had on January 1st? Are we still optimistic we can accomplish our annual goals? How have our projections panned out to date? Depending on the answer, we need to keep doing what we’ve been doing right or change what hasn’t been working.
Today’s blog entry is to encourage you to set a date on your calendar this month to analyze your 2011 business year to date. Pull out your business plan or corporate goals and see what you’ve accomplished. Make notes on the goals you haven’t accomplished yet. Look at your sales figures and your expenses. Set new projections, make adjustments, and establish new priorities. Set a new direction or keep going in the one that is bringing you success.
You have 177 days left this year to accomplish your corporate goals. If you’re not busy now because the business community is celebrating the warmth and happiness of the summer season, grab lemonade, a pad of paper and sketch our new resolutions for the second half of the year. There is plenty of time to make your New Year’s resolutions a reality and to lift your revenue goals and business accomplishments as high in the sky as the 4th of July fireworks. If you do, you’ll be celebrating on December 31st knowing you had the most successful business year on record.
Headset Sales
Occasionally a large corporate perspective can give women entrepreneurs something to ponder. Recently a young woman told me about her experience beginning work at a national clothing store at a major mall. The first day on the job she was handed a headset to wear and told to stand at the entrance of the store to greet customers. The average “How can I help you?” won’t work the manager told her, we need you to be assertive by asking questions and sticking with a customer until they buy something since we have a $14,000 a day sales minimum.
Although nervous by their direct approach, her lack of sales training, and her somewhat timid personality, she strapped the headset on and tried her best. Every time a customer said the typical response, “Thanks for asking, I am just looking” she heard a voice in her ear piece tell her she needed to be more aggressive. She tried and tried to sell but consumers didn’t want to be sold, they just wanted to look. Frustrated by the company’s high pressure sales techniques, she left the job although she needed the money to pay for college.
As she told me the story, I explained to her the dire need this company apparently has to achieve a sales quota to pay for its rental fee, staff and inventory. After our conversation, I thought about the fact most women entrepreneurs I know don’t implement such high pressure sales techniques and don’t set daily sales minimums. Most have a more relaxed sales approach. Although this approach might keep our stress level down, it probably keeps our sales level down too. Women seem to be uncomfortable when it comes to being assertive with sales.
Today’s blog post is meant to have you contemplate whether you need to implement a more disciplined and methodical sales plan to increase corporate revenue. Should you be setting and conducting a specific amount of daily or weekly sales calls? Would posting a monetary sales figure on your computer help you hit weekly revenue goals? Do you need to reserve one day each week this summer for sales calls only?
There is wisdom all around us. Let’s not forget there are large national companies using business strategies we can learn from. I’m not suggesting you go out today to buy headsets for all your employees and critique them after every sales encounter, but I do suggest you put this question in your head, “Do I need a more structured sales plan to become more successful today?”
At the Top
There has always been a strong emphasis on being at the top of the rankings in our culture. Whether it’s winning the gold medal at the Olympics, graduating in the top ten of a high school class, being the headliner at a concert, or being the best golfer in the world, the elite of any group receive recognition for being at the top.
It’s not too different for entrepreneurs. We want to be the company the consumers think of first when they need something in our industry, we crave recognition in the media, and we might even strive to make the Forbes List of Billionaires in our life time. Hanging out at the bottom or even in the middle doesn’t rest easy with entrepreneurs. We are driven to succeed, to get close to number one.
When the world wide web was invented in Europe in the 1980’s and Google was developed in 1997 by two college students trying to enhance the way information was found on the internet, entrepreneurs didn’t know the value of being a highly ranked company on search engines like Google. Entrepreneurs where excited enough just to have a “www” address. Being ranked top on a page wasn’t top of our minds.
But being ranked at the top of the search engines is now vital for companies striving for consumers to find them on the Internet which now exceeds 182 million websites. Like anything in life, women entrepreneurs must be educated and committed to making this subject a priority. It’s where big business lies.
Today’s blog post is to encourage you to place learning about search engine optimization and online marketing at the top of your to-do list this year. Go to seminars on the subject, speak with local or regional web or marketing consultants, and visit Google’s website to read what they have to offer on the subject.
I’m also proud my company Women TIES (http://www.womenties.com) ranks high on Google for “women entrepreneurs in syracuse” and in many other regional cities where we host events . We hope our members who are linked with us find this statistic amazing since it brings value to their own corporate ranking by being linked with us. We encourage women business owners not connected with us to think about joining for this reason alone. We want to help you climb to the top with us to draw more attention to your company.
Business Perception: Small vs. Large
Aldous Huxley, a British author, most famous for his novel Brave New World, once stated this quote about perception , “There are things known and there are things unknown, and in between are the doors of perception.” As I sat in yesterday’s Federal Government Contracting Workshop listening to an expert in the field, the most startling statistic I heard was the fact that 99% of entrepreneurs in the United States are running small businesses. 99%!
The number shocked me. When I think of business in America, I think of corporate giants ranging from Lockheed Martin to MSN to Starbucks. Even General Electric, Walmart, Ford Motor Company, and the Weather Channel signify what I believe successful business looks like and what most entrepreneurs strive for when starting an enterprise. Having run two companies with less than 2 employees and less than $250,000 in annual sales, my perception has always been I’m running a pretty small operation, even though it’s a service based business, and that I’m probably not as successful as the next business owner.
But after listening to the facts on business in America yesterday, my perception changed. No longer did I feel like running a small business was not good enough. It was exactly what 99% of all other American entrepreneurs are running too. The big corporate giants are the minority not the norm. All of a sudden a shift in my perception boosted my confidence level so much so that I wanted to share it with all the women in my organization who might have the wrong perception too.
Being average is sometimes good. If we are within what the average size of women owned small businesses are which is we are part of an expansive field of companies just like us. We might not be seen as a large company yet in the eyes of the world but it’s heartening to know we are what business looks like in America. We aren’t small after all, we are large – part of a very large pool of women entrepreneurs.
Today’s blog post is to remind you that if you are feeling like you are too small to be running your company or to keep going with your entrepreneurial dream, you are wrong. You are like most business owners so stand in the truth and be okay with where you are right now. It doesn’t mean you can rest on your laurels or be normal for too long, especially if you have your sights on becoming the next Apple Computer or Avon Corporation, but you can rest knowing you aren’t too small you are actually just right the way you are.
Continue to believe in the strength of the company you have created. Acknowledge your successes. Keep striving for bigger goals. But also look around and realize you are doing what most other entrepreneurs are doing and take a break from any harshness you put on yourself to think you haven’t accomplished enough. You have accomplished a lot – your efforts have been large not small and the success will follow.
Government Support for Women Entrepreneurs
February 7th seems like a long time ago especially when
these humid 80 degree breezes sweep through our morning windows. But a headline in the business section of a national newspaper that cold winter day warmed the hearts of thousands of American women entrepreneurs. The title in The Washington Post read “Women hope SBA rule improves business.”
The article detailed how the Small Business Administration was implementing a new rule to set aside government contracts for women-owned small businesses in 83 industries. According to the article, advocates believe this program is a way for the federal government to meet its goal of awarding 5 percent of contracting dollars to women-owned small businesses. “This is going to benefit a good percentage of women,” said Ana Recio Harvey, the SBA’s assistant administrator for women’s business ownership.
I’ve been promoting women entrepreneurship for sixteen years and next week will be the first time I have been involved with a program that educates women entrepreneurs on the benefits and processes to become a certified business with the federal government. When representatives from the Small Business Administration, Small Business Development Center and Women’s Business Center of New York State approached me about hosting and promoting a half day workshop I jumped at the opportunity because I knew the government had become more serious about awarding business contracts to women.
According to Roxanne Multcher, the presenter of our June 7th educational workshop on federal government contracting, “We would like to see any woman entrepreneur who is interested in doing business with the Federal government register for the event. The government buys everything, so the training would apply to any women entrepreneur who would like to enter the government marketplace, or get more government contracts if they are already selling to the government.” Roxanne is an expert in this subject and works as the Government Contracting Coordinator of the NYSSBDC Procurement Assistance Center and Mohawk Valley Small Business Development Center.
Today’s inspirational blog post is intended to make you think about new economic opportunities you might not be aware of but exist to help you succeed and grow. There are many ways to gain new business. Most of us only utilize traditional avenues. Is it time to educate yourself on new opportunities that could be available to you as head of a woman owned business?
I’m proud as the leader of this amazing organization of women entrepreneurs that government agencies want to partner with us to bring women in our
organization education and economic opportunities to help them grow their companies. I hope you’ll join me on June 7th so we can all learn together and benefit from the warm intentions of that February announcement. Let’s take advantage of the government’s support. To learn more about this event or to register, click here.
I simply couldn’t pass up today’s editorial without mentioning Oprah since today is the last day of her popular 25 year television show. Unlike some of the critics, I cannot, and have never, gotten tired of her. In my mind, she is the symbol of what a successful woman is – strong, intelligent, educated, compassionate, and charitable. She is a woman who has lived an authentic life and set a positive example for millions of women here and abroad. You simply can’t discount her contributions to this world.
I think when women start their companies they dream to be the next Oprah Winfrey. No one starts out thinking they want to be the next ordinary entrepreneur. We want to be extraordinary. We don’t begin enterprises because we want to just get by. We create them to make money and to be more successful than if we worked for someone else. We realized once we started it takes an extraordinary amount of dedication, bravado, tenacity and patience to achieve great heights.
There are few of us who will ever achieve what Oprah has achieved. But we can take inspiration from this exceptional entrepreneur and human being and integrate some of her successful traits into our entrepreneurial lives. I believe we should be women entrepreneurs who have an undeniable belief in ourselves and our mission, to always take risks to grow our companies larger than we imagine, to uniquely brand our businesses, to become financially successful, to inspire others along the way, and to give back by helping those less fortunate.
Today I hope you ponder how Oprah’s accomplishments can inspire you to be a more successful and intentional entrepreneur today. Immerse yourself in thinking what it will take for you to move towards the same kind of business success. What opportunities should you be taking, like Oprah did for 25 years, to bring your company to a much higher level?
I hope today you take time to watch Oprah’s last show and imagine yourself at the end of your entrepreneurial career with the same amount of success, gratitude and satisfaction for a life well lived. By celebrating her moment, we celebrate who we are and how much more we can be.
Refocus
It happened quite suddenly one day. The date on the penny I picked up was blurry. I heard this happens when you hit your early 40’s. One day short range vision is crisp and then the next day it’s hazy. It was like a light switch turned from on to off. All of a sudden refocusing became a daily part of life.
Yesterday as I spoke with five women entrepreneurs about their businesses the word refocus was a theme in the conversations. Each explained how they were compelled the past year by internal and outside forces to shift their vision for their company. For one it was because she had deviated from her original mission, for another it was because technology had changed so drastically, and for another it was because she was ready for bigger risks to grow revenue. As entrepreneurs we sometimes need to refocus when our vision becomes hazy. It can happen because our industry changes, it can occur because of outside influences or simply because we change and aren’t the same entrepreneur anymore.
It must have been an “R” kind of day (and I’m not referring to rain). Also common in the conversation were the words rebirth, renewal, and risk. Tired of conducting business the old way, all of these women were giving birth to new corporate ideas, embracing risk, and pursuing a new course with renewed passion and focus. They were revved up and ready.
Today’s blog entry is to encourage you to think about what parts of your business you want to refocus on. What could you do to renew and rejuvenate your business? What risks are you eager and excited to take? What kind of resources do you need? How do you want to change as an entrepreneur? Is it time. Have you been waiting? If so, refocus today.
In the midst and calmness of another rainy day, think about how you can use this time to revive your business and yourself. Refocusing doesn’t always have to be a bad thing (unless you like reading dates on pennies). It can be really satisfying as you take the haze away and create a new crystal clear vision for higher levels of achievement.
Trust in Transformations
I was sitting outside finally enjoying the warm spring air when hundreds of maple tree whirlybirds started falling from the sky. The last couple times I sat outside it was either white snow or grey raindrops falling. Today it was bright green maple seeds. As I took in the beauty I was thrilled with the transformation of winter’s brown and grey hues to the brilliant shades of greens and yellows surrounding me.
I speak to a lot of women going through transformations with their businesses. Some seek advice on surviving bleak economic periods. Others call with celebratory news. Periodically it is women asking advice on how to run their businesses while coping with personal difficulties. We all want a say in transforming our lives, our businesses, our direction; but many times our lives, businesses and direction are transformed for us without our approval.
As you look at my new photo or see me tomorrow at our large Movement towards Millions event or at a future event, you’ll notice a change in my appearance. Short curly hair has taken over long hair after a year and a half of dealing with a persistent auto immune disease called Alopecia. But two weeks ago, I felt confident enough to walk away from the wig I have been wearing for nine months and embrace the transformation publically as I accepted the 2011 SBA Women in Business Champion Award.
I decided to write about this today because I have a public persona and I look different; and I wanted to inspire women to embrace transformation in their lives no matter what it is. In the depths of transformation there are lessons – really good lessons. My lesson came February 2010 when my specialist told me I would probably be bald for the rest of my life. As a woman and as a leader of a company that requires a lot of public speaking, I couldn’t imagine it. But in depths of that bad news, I realized I could lose my hair but never lose my heart for helping women entrepreneurs. All I could do was embrace the transformation and trust in the outcome.
Today’s blog post is to remind you that no matter what you are going through – personally or professionally – trust in tomorrow. Trust in transformation whatever that means. I am confident you’ll find it holds valuable lessons and new strength to inspire you forward.
If you doubt it, sit outside today and take in the sights of this beautiful time of year. Don’t worry about your troubles instead trust in your future. I promise it will happen just like winter changes to spring.
For more information on Alopecia visit the Alopecia Foundation If you are a woman suffering with alopecia, feel free to contact me personally at 315-471-1987. I would be happy to speak with you.
Million Dollar Conversations
It was Spring Break 1985 when I traveled to Florida with my cousin and his friends to enjoy some winter sun. It wasn’t the ocean breezes and warmth I remember from that trip but my conversation with my Aunt who was also vacationing there at the time. One evening my Aunt and I had an interesting conversation. She surprised me by telling me she had just sold enough real estate properties and produced enough restaurant sales to make her first million dollars. I remember the word “million” sticking in my mind. I had always admired my aunt’s entrepreneurial drive but I didn’t think she had reached that level of success.
This million dollar moment really resonated with me. I remember thinking “I want to be like my Aunt someday.” Although I always admired her for the wonderful, positive caring woman she was, I was impressed that she could take a high school education, learn about the real estate industry, flip houses, invest in restaurants and make that kind of money. She was industrious, smart and a risk taker. At the time I was in college studying business and the entrepreneurial bug had not hit me yet, but when I did become an entrepreneur 10 years later I remembered that million dollar conversation.
Like most women entrepreneurs I am still working on making a million in sales. There aren’t many Central New York women entrepreneurs who have hit that mark. For the past four years, I have featured a million dollar in sales woman entrepreneur at an event called “Movement towards Millions” so they can share their million dollar success strategies with others. Women who have broken that particular glass ceiling and beat the odds have valuable lessons to share.
Today’s inspirational blog is to encourage you to start thinking about what it will take for you to earn a million in sales with your business. Do you have the interest, drive and desire? If so, do you know what you need to make the dream a reality? What structure and plans do you need to start planning for your million dollar in sales moment?
If this monetary benchmark is something you strive for, join us next week at the Women in Business: Movement to Millions event featuring a daring woman who took over her husband’s company after he passed away and made it a million dollar in sales success. Her million dollar business secret is “always saying yes, and never saying no.” What will yours be?
Women TIES 