Friday, May 23, 2008
Powerful Words at the Women’s Leadership Exchange
This week I attended the Women's Leadership Exchange Conference held at a Chicago suburb IKEA. It was really exciting!
The keynote speaker at the conference was Carolyn Kepcher, former EVP of the Trump Organization and a star on the hit television show, "The Apprentice." Ms. Kepcher's newest role is Internet Entrepreneur - founder of the community site, findingwhatmatters.com - a role that has helped her find greater work/life balance.
During her keynote presentation, Ms. Kepcher shared experiences she had during her days at the Trump Organization, recalling "loud, heated discussions" that she had on many occasions with her boss, Donald Trump. Discussions which taught her the importance of standing up for what you believe in. She recounted a story in which Donald wanted her to fire a new saleswoman. In spite of her boss's direction, her gut instinct told her that she should give the saleswoman a second chance. Ms. Kepcher didn't fire the salesperson and instead mentored the young lady...who eventually went on to become a top performing salesperson.
Equally inspiring was the workshop presented by Beth Polish, President, The Critical Junctures Group and founding CFO at iVillage, Inc. Ms. Polish's expertise includes strategic planning and finance. Her workshop, "Hitting a Home Run with Your Company: Expert Strategies to Maximize Your Future," dissected the importance of analyzing opportunities. During her presentation, Ms. Polish suggested, "All good companies have plenty of opportunities. Great companies know which opportunities to seize." It's so true - we all have a world full of opportunities. Beth provided specific tips on how to evaluate and rank opportunities to enhance your business savvy.
Labels: beth polish, carolyn kepcher, critical junctures, FindingWhatMatters.com, IKEA, iVillage, trump, WLE, women's leadership exchange
Wednesday, May 21, 2008
RE: The "Women Open Doors, Men Close" Myth.
Back in March on INC's SOLD blog, sales guru Greg Winston launched a debate over whether women or men make better salespeople. Greg postulated that women were better at sales "because in their personal lives and in business they tend to create relationships better." They also "tend to sell based on personal input and business input rather than just business...listen...and don't have a sales history that they are tied to, so 'new' works for them."
On May 19, Greg Winston revisited the debate, with a new post titled, "Why Women Sell Better Part II."
LOL. Wonder if Greg Winston is ever told that he "blogs too much about women." Ahem.
This question isn't new. Neuroscience Marketing asked "Are Women Better at Sales?" back in 2007. And Marion Luna Brem has written an entire book on the subject.
Here's my take. Some folks BELIEVE that women are better than men at building relationships and ERRONEOUSLY CONCLUDE that women would make more effective salespeople. Other folks think men make better "closers" and "negotiators." What a bunch of bunk. Broad sweeping generalizations. Myth perpetuated by dated feminine and masculine stereotypes. Working women are statistically more likely than men to join social networking communities and belong to formal professional organizations, but that does not mean they are better at building profit-generating relationships in a professional setting. In fact, average EQ (emotional quotient) for men and women is on par. And most academic research (save a few random small sample size studies) has shown zero gender differences in perceived buyer-seller relationship effectiveness -- suggesting that there are more similarities than differences among men and women salespeople.
What DOES influence the outcome of a sales call? Trustworthiness (Plank, Reid and Pullins 1999), relationship quality (Crosby, Evans and Cowles 1990), and customer orientation (Brown, Widing and Coulter 1991). And with much respect, Guru Greg, those traits can be cultivated by anyone, regardless of gender.
Labels: gender, greg winston, inc, leadership, marion brem, neuroscience marketing, relationships, sales, salespeople, sold, women, women executives
Tuesday, May 13, 2008
RE: If you want your business to thrive...
Gardens are not made by sitting in the shade.
- Kipling
Are you good at what you do but still struggling to build buzz and win customers?
Are you tired of seeing your competitor constantly quoted in the media?
Are you notable and quotable?™
If you want your business to THRIVE, you must MAXIMIZE your marketing efforts.
It's time to roll up your sleeves, get out those gardening tools, and plant the seeds. Register for RE:INVENTION Marketing’s "Grow Your Business" PR Package. You'll receive:
- A local media list, with full contact information for reporters and editors.
- A daily feed of e-mail queries from a database of 10,000 reporters and editors looking for story sources.
- A Package of 3 PR and Media Gardening Tip Sheets: The Power of Social Media, How to Write an SEO-Optimized Press Release, How to Become Notable and Quotable™.
- A list of local “must attend” networking events, where you can rub shoulders with media.
$795 for 12 months (a $2500 value). For a limited time only. Some restrictions apply.
Wednesday, May 07, 2008
RE: Ladies Who Launch Set for This Coming Saturday!
We hope you are gearing up for the Ladies Who Launch Chicago Live Event! The all day event will take place this Saturday, May 10 at 9AM and will feature wise women entrepreneurs as guest speakers, workshops, and plenty of networking opportunities. Attendees can take a day to meet movers and shakers in the women entrepreneurial world.
Women from all business spectrums including jewelry makers, producers, artists, and founders of nonprofit will be under the same roof.
RE:INVENTION is pleased be a sponsor of this great event, offering a "Grow Your Business" PR package to attendees. If you’re attending, look for the little green plants – yours to nurture and grow. Much like a business.
Cost is $125.00 (pre-$165.00 at the door) and the event will be held at the Women’s Club of Evanston. A percentage of the proceeds from vendor sales will go to Dress For Success.
For more information on Ladies Who Launch click here. If you are unable to attend this Saturday, learn more about RE:INVENTION’s "Grow Your Business" PR package by clicking here.
Labels: Chicago, entrepreneurs, Ladies Who Launch, Women Business Owners
RE: Proving the Prevelance of Part-Time Women Entrepreneurs Working Day Jobs.
Media continues to buzz about the recent study from the Kauffman Foundation which suggested that the percentage of U.S. women who started a business last year dropped to its lowest level in a decade. According to the study, men are twice as likely as women to launch a business.
A look at the numbers (Sources: U.S. Census, U.S. Bureau of Labor Statistics)...
Women's Entrepreneurial Activity:
0.23 percent in 2006
0.20 percent in 2007
Men's Entrepreneurial Activity:
0.35 percent in 2006
0.41 percent in 2007
"I don't have any explanation for why it dropped," quipped study author Robert Fairlie, an economics professor at the University of California at Santa Cru. "One possibility is that female entrepreneurs have more trouble finding capital than men, and maybe this worsened in 2007 as financing became tighter."
SBTV's Danita Blackwood is concerned, as are we. BlogHer and Womenentrepreneur.com have not yet posted about this study. Over at MinOnline, they question the Kauffman study, pointing out that the study did not take into account people who were employed at another business while launching their own venture. This makes the study results misleading, says MinOnline, since women are more likely than men to be multi-tasking, part-time entrepreneurs who launch their enterprise while working a day job.
Hmm. Interesting. This seems plausible. Women self-report that they launch enterprises for lifestyle reasons, not to build empires. But are they MORE LIKELY THAN MEN to launch their business while still working a day job? Surprisingly, we can't find any "part-time entrepreneur" gender studies or statistics to prove that hypothesis. But you can bet we'll be calling the Center for Women's Business Research tomorrow.
Labels: business, day job, entrepreneurs, gender, Kauffman Foundation, Ladies Who Launch, MinOnline, part-time entrepreneurs, SBTV, study, US Census, Women Business Owners
Monday, May 05, 2008
RE: The Power of Moms in the Marketplace – Beyond Mother’s Day!
Mother's Day is turning 100 years old this week (the First Mother's Day was celebrated on May 10, 1908 - although it wasn't officially declared a national holiday until 1914). Floral and restaurant businesses will be stimulated with people showering gifts on their special moms. It feels good to show appreciation to the women who do it all, but it is also big business. In fact, total consumer spending for Mother’s Day is expected to reach $15.8 billion.
By The Numbers:
There are 82.5 million moms in the U.S. - and 74 million kids under 18 supported by them. There are 4 million new births a year. And 11,000 new moms enter the market daily.
Not sure what to get the special mom in your life for Mother’s Day? $1.2 billion is spent on consumer electronics like digital cameras, digital photo frames and video cameras. Though many moms are increasingly online, it doesn’t always mean they are totally tech savvy. Popular mom blogger, Antique Mommy, appreciates consumer tech products that are easy to use. Like many busy moms, she describes herself as having “a low techno-IQ and little time/patience/energy to figure stuff out.”
Beyond Mother’s Day weekend, let us not forget the buying power of moms throughout the year. According to the CIA World Factbook, moms in the U.S. spend $1.7 trillion dollars in their homes and offices, which is 13% of the total U.S. GDP. Sixty-four percent of female corporate leaders have children and 44 percent of the more than 10 million women business owners have children under the age of 18.
How can companies reach this market? Research from BSM Media and Double Click reveals:
- 80% of moms have watched an online video in the last week
- 87% of moms read blogs
- 89% of household moms use the Internet at least twice a day
- 71% reported using online search to turn up product information
A new
Careerbuilder survey suggests many moms are hoping to receive the one present you can't buy at a store -- more quality time with their families:
- 25% of working moms are dissatisfied with their work/life balance
- Over HALF would stop working altogther if their spouse could support the family without their salary
- 43% would take a pay cut if it meant they could spend more time with their kids
- 34% would be willing to give up 10% or more of their salary to do so
Smart marketers are exploring: mom-daughter mixers, online media tours with
mom bloggers, Facebook Groups and YouTube for Mom, mom online communities like
WorkItMom and eMoms (now
Sparkplugging) and Marketing to Mom Immersion Days.
Marketing to moms is a powerful business strategy and it is crucial to think outside the box of traditional advertising. Moms are increasing online and highly connected to spread a powerful word of mouth message.
Labels: AntiqueMommy, DoubleClick, Internet, marketing strategy, marketing to women, moms, Mother Proof, mother's day, women
RE: Female Fever & Frequent Flyers.
Wyndham Hotels' "Women On Their Way" program is partnering with Martha Stewart's "Dreamers and Doers" Awards Program to celebrate women's successes and achievements. The "Dreamers Into Doers" program honors women who have "turned a specific passion into a career, a business or a philanthropic program, just as Martha did 25 years ago with her first book, Entertaining." Today through July 11, women can submit their personal 250-word nomination to: http://www.marthastewart.com/dreamers. The contest was announced this morning on the Martha Stewart Show. This year's grand prize winner will receive $10,000 and vacations for a lifetime, compliments of Wyndham Vacation Ownership.
According to Wyndham, 80% of all travel is planned and booked by women. Wyndham, now the industry leader in the female travel market, was one of the first hotel brands to dedicate an entire program and operating division to women business travelers with women-only floors with improved security, female-orientated reading materials and menus, improved beauty and clothing facilities (standing mirrors, powerful hair-dryers, skirt hangers), improved room service menus and discreet check-in procedures. Now sixty percent of Wyndham check-ins are women business travelers. Like-minded programs from Global Dinner Network, LadiesAway, FlyerTalk, and Lufthansa have since emerged.
Clearly, women travel differently than men, both here and abroad. In March, Saudi Arabia (!) opened their first women-only hotel. For more on women road warriors, see BlueSuitMom.
Labels: dreamers into doers, entrepreneurs, flyertalk, ladiesaway, lufthansa, martha stewart, road warriors, vacations, women, women on their way, women travelers, wyndham
Friday, May 02, 2008
RE: Miley-Gate: Bad Choice or Savvy PR Move?
Here at RE:INVENTION, we don't normally blog about celebrity’s latest PR moves. It's overdone -- but after a week of nothing but Miley Cyrus and the now infamous Vanity Fair shoot, I really can't help myself. I went back and forth, debated about whether our readers would care. My conclusion? Well, I'm not sure. But nonetheless, here it goes.
One does have to wonder, what all parties involved were thinking. It seems strange to me that the photographer, Miley's parents, the PR person, and even Miley (I know she's 15, but...) would think that the photos would be received well. But it is however, Hollyweird. I think that one thing is for sure the photos were no mistake. It just happened to backfire, which anyone could have probably told them (hindsight is however 20/20).
So that leads me to the age old question. Is any publicity good publicity? Well, as I try to live my life by some sort of moral code, I’m going to declare NO. If you are presented with an opportunity that is not in line with your identity, values, audience, etc., I’m going to say a “pass” might be the best option. While these photos have now probably introduced her to a new audience (A.K.A. creepy old men), the teenager has not been hurting for exposure. While I have never watched an episode of “Hannah Montana” in my life and don’t plan on it, I have certainly recognized the buzz that has been surrounding Miley for quite sometime now. Bottom line: her career would have thrived (at least for awhile) without it.
In closing, I don’t agree with these photos, don’t know what her people were thinking, and am saddened that a young girl was take advantage of for other peoples gain. But as always, I do believe in second chances and reinventing oneself. I still believe that moving forward, Miley’s career can continue to grow and that all can be salvaged --- as long as all parties accept responsibility and play it safe for awhile. At least until she is 18.
Labels: Miley Cyrus, PR, Reinvention, Vanity Fair
Tuesday, April 29, 2008
RE: e-Mentoring Entrepreneurs.
Back in March, RE:INVENTION's blog announced a call for applications for Yahoo's new Seeds for Success competition for women. Well today the winners have been announced. Over 5,000 entries were received. All 3 winners run businesses focused on babies and children:
- Karla Duncan of Birmingham, Ala., Founder of Head2Toe Publications, a developer of toys and educational materials for special needs children.
- Abby Port of Woodstock, Ga., founder of Red Koala, which makes custom home décor with an eye on children's rooms and nurseries.
- Dana Rubenstein of New York City, co-founder of Dapple, a company that produces earth-friendly and baby-safe cleaning supplies for babies' hands, toys, and feeding tools like bottles and kids cups.
In addition to business grants, winners will receive e-mentorship and share their progress online via a group of integrated blogs at
http://seedsforsuccess.smallbusiness.yahoo.com/.
A mentors' blog has also been created, with a "Salute to Mentors" kickoff post by Carolyn Kepcher.
As a former student of
Dr. Georgia Chao (Michigan State), I remember her research which revealed that people participating in formal "mentoring programs" received less compensation and achieved less success than those who had informal "mentoring relationships." Her findings suggested that formal "mentoring relationships" offered less psychosocial and career development and satisfaction than informal "mentoring relationships."
Other studies -- from the likes of
Perren, Sullivan, and
Stokes -- have explored the pros and cons of e-mentoring entrepreneurs. The headline: busy small biz owner schedules and global business demands make e-mentoring increasingly viable.
With much respect to Dr. Georgia Chao, Carolyn Kepcher and the esteemed e-mentoring researchers, I suggest that the entire notion of "mentors" is a little outdated. In today's world: there are people you collaborate with for mutual benefit, people who have knowledge you want, people who have influence you wish to benefit from, and people you just like. At any given time an individual may fall into more than one category or they may move to another category. It is not a conscious thing either, just a way to view your colleagues. In the end, successful business leaders commit themselves to helping others when they can, accepting help when it is offered, and helping themselves.
But education, a shared sense of community, and support are always inspiring. And those three aspects of the Yahoo campaign may indeed sow seeds of success.
Labels: Chao, Dapple, e-meontoring, Head2Toe, Kepcher, mentors, Perren, Red Koala, Seeds of Success, Yahoo
Monday, April 28, 2008
RE: The Profit of Smear.
Gracing Fast Company's May issue cover: gorgeous and brilliant Gina Bianchini, CEO of Ning, self-professed "girlfriend - turned friend - turned business partner" of acclaimed serial entrepreneur and former Netscape co-founder Marc Andreessen. The article titled, Ning's Infinite Ambition, explores Ning's 0.4% daily "automagical" growth and mission to host 4 million networks by the end of 2010, with "billions and zillions" of daily page views.
If you don't know Ning, the company hosts a social network platform that allows users to create their own online communities for the world's most random topics (such as a forum for girls like me who are fond of pink patent pumps with bows). And Ning is worth half a billion dollars.
Ning's business model? "Incorporating virality into the functionality of the product" via "viral expansion loops...the most significant business accelerant to hit Silicon Valley since the search engine." BRIEF PAUSE HERE while I consult Wikipedia and a dictionary. Viral expansion loops are fondly known in certain circles as "viral marketing on crack."
We won't analyze the merits of Ning here (nor the subtle hyperbole in the story). Instead, we are tracking with great interest negative public response to the Fast Company story.
What an intriguing Negative PR case study. Deliberate reputation and image attacks make for interesting business battles.
Over at SpinHunters blog, Ivana Kalay
reviews 5 classic Negative PR tactics:
- Smear
- Demonizing the Opposition
- Straw Man
- Obtaining Disapproval
- Ad Hominem
Poor Ning. It seems Ning is encountering all 5. "Negative PR is not propaganda" -- and we aren't recommending these techniques -- but it's important for entrepreneurs to know the vast arsenal of Negative PR tactics used by spin professionals and naysayers. Is all PR good PR? Can Negative PR result in positive outcomes?
Umm no. That's pure myth. Perhaps one of the only times that the "any PR is good PR" mantra holds true is when you can turn the tables to portray yourself as victim. Who profits from Negative PR? Inevitably your competition.
Want tips about how to deal with Negative PR?
Start here. Then read this
Managing Crises Through Social Media Tip Sheet from Robbin Goodman.
Labels: Andreessen, Bianchini, Fast Company, mantra, myth, negative PR, ning, PR, propaganda, spin, viral marketing loops
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