Monday, July 26, 2010

Article of Interest: Jump Your Business Ahead

Many business owners feel that summer is typically a slow time of year for their business. Is that you too? Obviously a lot depends on where you live, your firm's sales cycle, whether you market seasonal products (locally and globally) and what else is going on in the industry and economically.

According to Tom Hall, co-author of "Ruthless Focus: How to Use Key Core Strategies to Grow Your Business," with leadership expert Wally Bock:
Summer is a great time to jump your business ahead. If your clients and customers are all taking a break, take advantage of the slow market and get yourself ready for the fall.
How do you get ready? He offers a couple of fun recommendations here.

And be sure to review his thoughts on how to remedy the "I must do it all" mentality for business owners.

What are you doing this summer to stand out from the crowd with your clients and customers? We welcome hearing from you.

Posted by: Women Presidents' Organization Chicago

Monday, July 19, 2010

Article of Interest: What To Do When Your Company Makes a Mistake

What do you do when you or someone in your company makes a mistake -- whether it be in producing a product, launching an advertising campaign or making an inappropriate off the cuff statement on a national television network?

If you follow the path of Apple's iPhone's debacle, the first thing you do is admit you made a mistake and then claim that you are not perfect.
"We're not perfect," admitted Steve Jobs, the boss of Apple, at a press conference today at which he discussed the firm's new smartphone, the iPhone 4. To people who have long ascribed almost God-like powers to Mr Jobs, that may come as a shock. But the ham-fisted way in which Apple has handled a fuss over connectivity issues with its new device has shown that even one of the world's most admired companies can get things wrong every now and again.
Read more here.

According to WSJ's blog Digits, here are five things Apple (or any business that finds itself in a similar situation) should do regarding its flawed iPhone 4:
  1. Apologize
  2. Put Steve Jobs (President/CEO) front and center
  3. Explain what went wrong
  4. Offer a real fix to consumers now
  5. Explain whether the phone will be changed later
What approach do you implement to recover from business missteps every now and then? We welcome hearing from you.

Related article on the ability to learn from mistakes.

Monday, July 12, 2010

Article of Interest: Are You Rebalancing Your Businesss?

In view of the notion of a potential double-dip recession coming to our economy very soon, whether it happens or not, how do you prepare for such an event?

Are you rebalancing your business in anticipation of a period of greater risk? If so, what steps are you taking to ensure a "steady as she goes" sort of approach to growing your business?

We do know this to be true:
Economic growth is not likely to return in a sudden and massive way. The “New Normal” is viewed as an economy of much tighter regulation, much higher taxes for the wealthy and for corporations, higher government spending, and consumers living with less and enjoying far less opulence than in prior years. It is even arguable that the recovery was merely a stimulus and stability recovery matched merely by an inventory replacement cycle with no follow-on gains.
The Huffington Post defines 'Double-dip' recession here.

As always, we welcome hearing your views and insights on this hotly debated topic.

Monday, July 05, 2010

Article of Interest: Should Your Business Be in the Cloud?

At a recent WPO Chicago downtown II chapter session, one of the questions that came up was: "Will cloud computing impact your business model now or ever?"

The answer: What is cloud computing?

According to Wikipedia:
Cloud computing is Internet-based computing, whereby shared resources, software, and information are provided to computers and other devices on demand.
Think along the lines of Google Docs (particpate in our test here), Google Gmail or Scribd (example of how I use it for my business) but take it further to consider the implications of its use in other aspects of business.

For example, consider cloud workplaces, cloud research projects or cloud peer groups (we already experience this among WPO Chicago chapter members by using common links through Google Docs where everyone can share, network and edit critical documents).

Needless to say it's something to track and monitor closely as it grows in popularity. You don't want to be caught off guard should our world become more cloud-driven.

The big question we will leave you with is this: Should your business be in the cloud?

Learn more here.

Posted by: Women Presidents' Organization Chicago