Video of Interest: How to Craft a New Set of Wings

In the course of growing a robust business, everyone at some point or another runs into this scenario:  You launch a new product and it falls flat on its face. 

As a business owner, what's the typical reaction?  Keep working it (same old, same old) or cut your losses fast (e.g., pull it from the market).

But there are other options.  You can, according to Marissa Mayer (pictured), V.P., Consumer Products at Google, breathe new life into failed ventures.  That old adage of "if you don't succeed, try, try, again" can actually work.

Find out how here by watching a short video.

Photo credit here.

Legal Tax Alert From Our Sponsor: Foley & Lardner

We are grateful for the support we receive from our WPO national sponsor Foley and Lardner and always look forward to their important business news updates.  Here's one of them below.

See how the new law might impact the way you run your business.  If you have questions, reach out to the co-author partner Mary Kay Martire.

A legal news alert on the Illinois tax increase and another pending piece of legislation designed to expand the scope of sales/use tax nexus. 

Read the entire article here.  While you're there, sign up for their newsletter.

Illustration credit here.

Article of Interest: Contracting With Women-Owned Businesses

Find out how a woman running a construction business beat the odds and fostered growth for her own business and others by contracting with other women-owned businesses.  If she did it, you can too.

Snippet:

Increasingly, federal contractors of all types are being held accountable for meeting the modest goal of doling out 5% of their subcontracted business to women-owned firms. (Currently, the overall goals are to direct 23% of total Federal dollars to small businesses, plus 5% each for ‘disadvantaged’ and women-owned businesses, and 3% each for businesses in designated locations and those owned by disabled veterans.)

Want to Find Women-Owned Suppliers?  Build Your Own!

Article of Interest: How to Prioritize to Reach Your Business Goals in 2011

One of the great ways to simplify the process of prioritizing is to use software.  Here's a look at how to deal with the complexity of large projects -- from scheduling to resource allocation -- without busting your piggybank.

How to Use Software to Plan and Prioritize Projects

Blog Post of Interest: Women-Owned Businesses Fastest-Growing Segment of the Economy

Women-owned businesses continue to be the fastest-growing segment of the economy. But if women business owners are to achieve entrepreneurial parity, they must address the kind of businesses they open and their commitment to growth.

That's where the Women Presidents' Organization (WPO) comes in. WPO helps women business owners accelerate business growth, enhance competitiveness, and promotes economy security.

Read the entire blog post:

Women-Owned Businesses:  Numbers Climb, Revenue Lacking (Forbes)

Learn more about how the Women Presidents' Organization can help you grow your business here.

We wish you a happy and prosperous 2011!

Illustration credit here.