Archive for June, 2010

Do You Run Your Business in Silos?

Are you running your business in silos?Running your business in silos is a common symptom of larger corporations, but I’ve discovered recently that it is an attitude that runs rampant with entrepreneurs too.

What being “siloed” means is that each functional group – marketing, engineering, sales, finance, R&D, customer service – are essentially alone and separate. They don’t communicate between each other very effectively (or really at all) and, the more important concept, they don’t even consider the impact their own actions have on the other groups.

This can be a problem. A silo approach doesn’t allow for synergies of creativity or cost savings. It often causes delays and budget overruns (read less profit) when work needs to be redone to accommodate a real problem created in communication or process. It can also slow project completions, new product launches, and can even prevent a final close on a big sale because something unforeseen crops up at the last second. Not so good, right?

To avoid working in silos and risking functional group isolation (some call it “working in a vacuum”) here are some tips to help:

  • Keep the lines of communication open – have a designated lead person whose job it is to facilitate the sharing of information cross functionally in your organization. It will likely need to be someone with a thick skin and a kind heart. When you can coax the truth out of someone, even when they are hesitant to share, that provides communication that has value. Sensitive issues call for an aware communicator. Find that person and task them with cross-functional representation.
  • Have an “open door, honesty is the best policy, tell me the hard stuff sooner rather than later” communication and leadership approach. If you make it hard for your contractors, staff, and clients to tell you the truth, especially when it’s something you don’t particularly want to hear, they won’t.
  • Develop a feedback system that incorporates all functions – a regular reporting mechanism that lets everyone see what everyone else is doing. When everyone knows that the feedback they are sharing is actionable and will be used to make improvements (and those improvements actually happen), people will be more willing to share and speak up.
  • Remember the power of humor and relationships – a spoonful of sugar helps the medicine go down! It’s harder to be withdrawn, secretive, and unyielding with someone you’ve sung karaoke with. Encourage social glue, ways that your groups can come together that trigger their human side, and it can smooth this process. Social glue quickly becomes social lubricant as people see each others’ challenges as real, with a breathing, feeling person on the other end of it.

When you take the time to fully integrate all functions, you’ll find they can support each other in fun and interesting ways. Leverage your talent by making them talk, both amongst themselves and with you. I believe you’ll find it works wonders!

Any tips you’d like  to share? You’re invited to comment below!

Together, we are stronger!
Vicki Flaugher, CEO
SmartWoman Guides

It's hurts! Will YOU fix it?Many internet marketers, and often salespeople in general, use a heavy fear based method when trying to close sales.  I’ve railed about it before, but that’s not the purpose of this post. In fact, after reading “A Good Hard Kick” recently, I have actually come to a bit of new revelation about fear based selling.

I used to say I didn’t want a marketer to sell me their product by invoking fear. I avoided using a fear based technique for sales myself, probably at the cost of losing sales (because it does work) but it just wasn’t worth trading in my integrity for money. Now, I’ve got a more clear idea.

Creating nightmare scenarios where I’m a loser if I don’t buy, my friends will desert me (assuming such a loser as me has any friends to begin with), my dog will run away, life will pass me by and things will never get better doesn’t work on me. I hate it – I resent any marketers that do it, I unsubscribe from their email lists, and I shun them for being mean, selfish, and cold. OK, I admit I have issues, but still…it’s how I feel. No, I am not afraid of these marketers but rather it hurts my heart to see their dirty mind tricks played on people.

But, deep inside, at least for the problem I am trying to solve, I feel pain about the issue. So, instead of highlighting fear, the Great What-If, when someone fully acknowledges my pain about something, I feel heard. I feel understood. And, if what they are offering relieves my pain, I’m buying it without even asking the price.

So, getting to know your customer well enough that you know what brings tears to their eyes and is breaking their heart (or their budget) rather than trying to leverage the Boogie Man scenario works better for me. I like helping people find relief. I don’t like scaring them. Maybe it’s just reframing, but I don’t think so. As a business person, if you’ve taken the time to really get to know your customers, you gain a connection that builds trust, rapport, and credibility – that’s what makes sales and loyal life long customers ultimately anyway, right?

My favorite part of it is how they feel after. How do you feel when someone gives you what you need to finally have that throbbing, white hot pain go away? I feel saved, grateful, ready to be alive again, and I attribute that relief to them. If their product doesn’t work, I usually say “Well, at least they tried to help me feel better.” When someone uses fear, I buy, I try their product and if it doesn’t fix my fear, I blame them. I feel exploited. I don’t say “Well, at least they tried to scare me.” I may not be able to print what I’d actually say, but I can assure you it’s not a thank you.

So – fear based versus white hot pain relief – how do you feel about it? Shout out below in the comment section!

Together, we are stronger!
Vicki Flaugher, CEO

Good Hard Kick book reviewMany entrepreneurs don’t have a clue about how venture capitalists think – even me, who has likely poured over hundreds of books on business, start ups and entrepreneurship. I read a great book recently that really shoved opened my eyes and, true to the title, gave me a good hard kick in the ass.

Written by Rob Adams, “A Good Hard Kick In the Ass – Basic Training for Entrepreneurs” discusses how venture capitalists (VCs) decide what start-up companies to invest their Daddy Warbucks big money in. Seed level investment usually starts at 1 million with Series A (first level) usually comes in at 10 million. With those numbers, you can bet these financiers have some requirements. And, this very well written book describes exactly what that expectation is.

Start up financing can be tricky and many entrepreneurs think that, if they have a great idea and a detailed business plan, they will be able to secure financing from venture capitalists. As it turns out, the heavy weight VCs could barely care less about your business plan and they see ideas as a dime a dozen. They are looking for a great management team and market validation.

Both of these concepts – building a great management team and market validation – will likely be the subjects of more blog posts to come, but know this – if you get this book (I was lent it by my dear friend Naomi Friedman) you won’t regret it. It’s going to blow away your preconceptions and put you on the path to actually getting real venture capital investment in your start up if you heed its advice. Even if you decide to not seek outside capital in your business, it will help you run your business better. Check it out and tell me what you think!

Together, we are stronger!
Vicki Flaugher, CEO
Smartwoman Guides

Your Online Communication Schedule

Woman entrepreneur working on her laptopSo…

You’re loving your followers on Twitter…

You’re building friends on your Facebook fan page…

You’re working your Linked In groups…

You’re visiting relevant niche focused influencers’ blogs and commenting with keyword rich verbiage that links back to a specific page to continue the conversation…

You have an opt-in on your website and you’re building a database list for backend promotion…

You’ve monetized your expert subject matter information into downloadable digital products…

Your authority building promotional articles are being published to other people’s blogs monthly…

You are publishing your own reputation building blog daily….

You’re seeing increases in your conversions and sales (list building and revenue results) and you even got a write up in a national online magazine…

To say you are an online marketing goddess doesn’t even come close! Life online is GOOD!

Oh, wait – excuse me…am I not describing you?

Oh, how embarrassing…um, maybe to keep all that happening (or get it happening if it’s not), you could create an online communication schedule. You won’t always necessarily follow it, but it’ll be a guide for you in creating your goddess quality online content.

Here are some tips on how to do it:

Pick 50 keywords to focus on

Start with just 10 if you wish, but choose ones that describe your services/product, your values and character, your clients’ needs, your niche or industry, and your unique value and focus in the marketplace. You’ll be concentrating on these words in your blog posts, your social media blurbs, your headlines, your entire marketing funnel. If the words are the ones your niche uses to find stuff on Google, then you’re going in the right direction.

For me, as an example – I would use marketing, online, women entrepreneurs, social media, philanthropy, pro bono, internet marketing, Austin, TX, business, beginning entrepreneurs, global, literacy, sharing, empowerment…you get the picture.

Decide your publishing timeline

I’d suggest daily or at least 3 times per week for your blogging, at least once daily for all of your social media homes (probably more on Twitter), at least once a week for commenting on other people’s blogs or forums, and at least monthly for new promotional articles.

If you aren’t able to do this on the fly real time day to day, create a bunch of material at one time when you’re feeling uber creative and schedule it out to launch automatically. If you are “too busy”, hire someone to help you, either a ghostwriter, a VA, or an intern – heck, go for the gold and do all three! Just commit to no excuses on this. If your clients can’t find you and if what they find isn’t compelling, you won’t be in business to be busy for very long any way. No excuses!

Keep going!

Even if you fall off schedule, keep going. Bootstrap online promotion techniques work really well, but frequency matters and regularly updating your content will make the Google spiders visit you more often. You deserve visibility and you can go from the world’s best kept secret to a promotional diva in a relatively short time if you show up and keep at it. The world needs you – please let us have you!

Still stuck? Try listening to this free, no opt-in preview call I did on how to turn 10 hrs of time into one month of online content. It will get your creativity going: Click here to listen to The Efficient Entrepreneur preview call

Final note: If I am coming off a bit harsh, please forgive me. It’s just that every day I see so many amazing, fantastic women with so much to share who are hiding from success. I have to swallow my own medicine too – none of us are immune from letting the urgent get in the way of the important, so I will crawl down off my soapbox now and go write a promotional article. *wink*

Together, we are stronger!
Vicki Flaugher, CEO SmartWoman Guides

Help me build SmartWoman Store!I am happy to announce today that I will be launching a SmartWoman Store. It’s in the design stage but I need YOUR help in designing i!

Yesterday, I met with a business coach who recommended I open up the idea to my wider audience sooner rather than later. So, that’s what I’m doing. Would you help?

The basic idea is that I want an online store that allows me to create and sell products to support female entrepreneurs. I want to maintain the integrity of my blog conversation, so as I have tried in the past (and rejected), I won’t be weaving affiliate products within my blog posts. I want you to know that when I recommend a software tool or book or person, that I do so because I believe in it, not because I get any kind of kickback. To me, that is basically “nickle and dime-ing” you and I don’t want to conduct business that way. It’s much more delicious to me to involve you in the selection of the products, the creation of the products, and the way the whole thing is put together. I envision a unique, custom made approach that lets us all add to the commerce conversation.

Here are some of the ideas floating around already in my head, on the drawing board (and maybe the chopping block?)  – please add to them as you see fit.

Ideas for some potential items for the store:

  • Message and graphic t-shirts (empowerment, beautiful, fun)
  • Other graphic & logo items – mouse pads, coffee mugs, calendars, posters, etc to build solidarity between SmartWomen everywhere (as well as put an encouraged, confident and empowered smile on your face)
  • Digital How-To Products to help you live a passionate life doing meaningful work (entrepreneur training, software apps, coaching, business building and systems)
  • Items from the international marketplace of women entrepreneurs (to provide a wider customer base and market place to sell these goods). This could include jewelry, fabrics, pottery, artword/photography etc.
  • Whatever you want me to stock – insert your desires in the comments below!

Some of the business process techniques include the following:

  • A daily or weekly offering, like Woot or Groupon, for a special, limited time great price
  • Open up the vendor opportunity to any SmartWoman entrepreneur who wishes to participate – a virtual trade show and marketplace of  fabulous women entrepreneurs’ goods
  • Voting on T-shirt designs by the community, a la Threadless, and carry the stock on the winner. This could also include design contests where the community votes up your design and the winning design gets manufactured.
  • Subscription service for the digital goods so you pay one monthly price to have access to the library of training products
  • A portion of the proceeds go to a women’s empowerment charity – microlending organization like Kiva, or education organization like WomenForWomen. This could change monthly.

I don’t want to suck the oxygen out of this conversation by stating all the crazy ideas me and my coach talked about yesterday – I’d rather hear what YOU have to say, so sound off in the comments below. And, thank you in advance for your help. I am excited about this new adventure!

Together, we are stronger!
Vicki Flaugher, CEO

p.s. Follow the newest @SmartWomanStore twitter account to help get me going! (please, pretty please, with sugar on top?)

Choosing Your Pro Bono Work Carefully

Pick your pro bono carefullyPro bono work is a great way to build your skills, increase your business visibility, and give back to your community. Donating your time and business acumen to a non-profit or a social business start-up can bring great satisfaction, great connections, and can build your portfolio. It’s important, though, to choose your pro bono work carefully.

Here are some guidelines that might help:

  • Keep Your Intentions Pure

Don’t take a pro bono job if you are only motivated by personal gain or reputation building or the connections you will make. Most organizations that need your help are very sincere about their mission. If you don’t believe in what they do, refer someone else to them and then find something else to do that does align with your values.

  • Don’t Commit Unless You Have the Time To Do It and Will Follow Through

Follow the same rules of under commit, over deliver that you do in your paid business transactions.  It’s easy to get wrapped up in the deep needs of these worthwhile organizations that you want to help more than you actually have time to do. Be careful with this, because once you make a commitment, they will be counting on you. It’s better to take on a small project, see how it fits into your lifestyle and other business demands, and then do more once you see how the first project goes.

  • Remember That What You Do Every Day Easily Isn’t Easy For Other People

Lots of things we do day to day are second nature to us. We’ve programmed websites for years, we understand how to ask for funding, we manage projects like they’re an easy shopping list. Just because something is easy for us doesn’t mean it doesn’t have high value. Even something as seemingly simple (to you) as setting up social media profiles might sound like utter Greek to someone else who’s never done it. Just remember that acting like “any idiot could do it” will cast ill feelings on those who need your help. They don’t want or need to be made to feel stupid. Share your skills, the things you’re good at, and do it with a loving and compassionate heart. The things you do every day, which might seem like nothing to you, could be just the thing that propels a social organization to the next level.

  • Honor Confidentiality (and Get Permission For Any Sharing)

If you want to share with your client base that you are donating your time – something that can be life and relationship building – confirm that the organization you’re helping is OK with that. Depending upon the group, you might have to remain quiet for the health and safety of who they help. In this case, get a letter of recommendation that you can perhaps share less publicly with potential clients during consult or get a commitment from your contact that you can share their info for a reference. Be on the safe side and ask first.

  • Don’t Pro Bono Because You’re Afraid to Ask To Be Paid

Many organizations have budget to hire a professional. If you see a group you want to help, create a proper proposal to be hired and present it. If that doesn’t happen, then you can always offer pro bono. Sometimes we get shy or nervous about asking for what we’re worth. We know what the organization does is great and we really believe in it so we think we’re doing them a favor to volunteer. But too often, we get peeved when someone else comes along with the courage to ask to get paid and gets the job. Just because an organization is non-profit does not mean they only work with volunteers. If you aren’t sure, go back  to tip #1. If your intentions are pure, you will know the right thing to do.

Thank you for being the kind of person who does pro bono work. Enjoy your time!

Vicki Flaugher, CEO
SmartWomanGuides.com