Article of Interest: How to Take Content Marketing to the Next Level

If you are stuck on how to kick it up a notch with your business relative to your content marketing strategy, this article offers some good advice (short case studies) on how three companies -- Mint, Hubspot and America Express OPEN Forum (one of our favorites!) -- attained success.

Read the entire article here.

Illustration credit here.

Article of Interest: The Sharing Economy

Thanks to the Internet (which includes social media and social networking platforms), you can now share anything with anyone anywhere in the world.

Embrace it for your business and start using the communal assets to your advantage.

Read:  "The Sharing Economy" by Danielle Sacks, Fast Company

Posted by:  Women Presidents' Organization Chicago

News of Interest: WPO Chicago Member Featured On Undercover Boss

Tune in to Undercover Boss tonight (April 17th) at 8:00 p.m. CDT to watch our very own WPO Chicago member Shelly Sun, CEO and co-founder of BrightStar.

Play the preview clip here. 

Best wishes Shelly!  We are very proud of you.

Article of Interest: Social Media Efforts Pay Off

According to Courtney Rubin for Inc., "Social Media Worth the Time."  Her opinion is based on the 2011 Social Media Marketing Report which highlights how important social media is to the success of a business.

Small businesses and the self-employed are most likely to close new business deals and find partnerships thanks to their efforts on Facebook, Twitter, et al.

Read the entire article here.

And let us know if you agree or disagree.  Have your efforts on social media paid off handsomely for your business?  We welcome hearing from you!

Posted by:  Women Presidents' Organization Chicago

Tip of the Week: Gogobot

Plan a trip with great travel recommendations from friends, business colleagues and people who travel like you. Collect and share where you've been in your Gogobot passport.  Gogobot says:

Whether it is a week's vacation, a business trip or a weekend getaway, we believe planning your trip should be almost as fun as the trip itself. We believe the best advice comes from people you trust - people like you - and not from anonymous strangers on the internet. We believe sharing your experiences should be as simple as touching the screen on your phone. We are passionate about technology and design and their power to reshape our world for the better.

Visit Gogobot.  See if it helps plan your next business trip which might include one day of fun to clear your head.

Illustration credit:  Gogobot hompage

Video of Interest: Follow Your Interest

As a business owner, what do you care about?  Who do you follow?  What do you want to know?

Follow your interests (e.g., @WomenPresidents).   Keep discovering and growing.

Posted by:  Women Presidents' Organization Chicago

Commentary of Interest: The Power of Persuasion; Does It Sell Anything?

Are you advertising with your business?  Yes, remember that good old-fashioned way of getting the word out to a large number of people about your brand via television, print or radio?

Or maybe you've switched to heavy use of social media platforms like Linked In, Twitter and Facebook to boost the star marketing power of your business.  Have these platforms rewarded you in some fashion with having the most number of fans -- say with new business?

Clearly, as business owners, we need to revisit the whole point of social media and social networking:  to sell a product or service.

Read:  Just How Influential Is Your Social-Media Program if It Isn't Helping To Sell Product? ~ by Rance Crain

Posted by:  Women Presidents' Organization Chicago

Article of Interest: How Reframing Behavior Can Lead To Organizational Change

When business owners talk about change, they usually have a desired result in mind:  wake people up a bit (change the company culture), a better approach or relationship to clients, a focus on profit instead of just revenue.

Sometimes a given situation merely calls for new behaviors and a change in practice.  Learn the secrets on how to make it happen:

"That's the Way We (Used to) Do Things Around Here"

White Paper of Interest: Life After Exit

Most business owners reach a point when they are ready to exit from their baby, the business that is.  In Chicago, with three robust chapters, we generally have at least one or two members in each chapter who are positioning to sell their business.

The itch to exit starts with getting weary from doing the same thing (the passion is lost), a readiness to retire or the contemplation of an offer from a buyer that you cannot refuse.  Whatever the reason and whenever the point in time, one needs to prepare well in advance.  Doing your homework matters and so does finding out how others handled the sale of their company, which might resemble a circumstance similar to yours.

Esteemed fellow WPO Chapter Chair Barbara Roberts (Zenith group), authored a 38-page "white paper" for the Eugene Lang Entrepreneurship Center at Columbia Business School: "Life After an Exit:  How Entrepreneurs Transition to the Next Stage (immediate download of PDF file)."

For the paper, Ms. Roberts interviews 23 entrepreneurs who sold their company for $10 million to $970 million.  The interviews are about how they experienced the sale and how they learned about wealth management.  The interviews also cover how they had transitioned to the next chapter of their lives.  The "white paper" includes what they did well and what they wished they had done better before, during and after the sale.

If you have questions about the white paper or would like to contact Ms. Roberts to attend an event when she will be speaking more about the themes of paper, feel free to connect with her directly here.

Posted by:  Women Presidents' Organization Chicago

Blog Post of Interest: 5 Tips On How to Grow a Business

Dennis Crowley, founder of Foursquare, knows a little something about growing a business.

Read:  Growing Your Business:  5 Tips From the Founder of Foursquare

Quick glimpse on the tips he offers:

1.  “Twitter is your best friend”

2.  “Keep it light”*

3.  “Guerilla customer service”

4.  “Small and scrappy marketing 4eva”

5.  “Show off your team”

*Light as a feather

Register: WPO 2011 Conference in Vancouver, BC

Registration is open for the 2011 WPO Conference, Grow Boldly, Lead Globally, Vancouver, BC on April 27-29 at the Westin Bayshore (pictured).

Keynote Speakers include:

Coping with the Economy in Turbulent Times
Meredith Whitney, CEO, Meredith Whitney Advisory Group, LLC

Lululemon: From One Store to a Global Brand in 10 Years
Chip Wilson, Chairman of the Board, Lululemon

A Global Leader – Her Story
Rebecca MacDonald, Executive Chair, Just Energy Group

And ... Dancing and Drumming with the Rainbow Creek Dancers!

For registration and more information, click here.  For a quick look at the workshops, go here.

See you there!

Article of Interest: Effective E-Mail Marketing

Whether it's Valentine's Day or any special occasion, these e-mail tips will help you target better and sell more product or service offerings throughout the year.

Snippet:

1. Use social media to help your campaign.
Yes, we just said customers are more tolerant of e-mail pitches. But an established social media presence will smooth and enhance the path to direct ...

Read more:
7 E-mail Marketing Tips for Valentine's Day

Article of Interest: For the Geek in Your Life

As business owners, we like to be hip and trendy in how we run our companies and purchase gifts.  With Valentine's Day right around the corner, take a look at some of these simple yet inspiring items that run counter to ordering the same old chocolates and flowers.

One can never be too geeky.  See whether your employee, colleague, significant other or best client might enjoy one of these.

10 Valentine's Day Gifts for the Special Geek in Your Life

Photo credit:  USB Tulip Hub, Mashable

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.

Warmest Season's Greetings From the Women Presidents' Organization Chicago

Friendly wishes for a warm and wonderful holiday season.  May you find your path to success in life.

Photo credit:  Laurel Delaney, Pratt pier, Rogers Park, Illinois, U.S.A, December 26, 2010

Posted by:  Women Presidents' Organization Chicago

Article of Interest: Qualities That Distinguish Women Leaders

Running a multimillion dollar business is no walk in the park.  To do a good job, it requires certain personality qualities as a leader to get things done.

From Finding 2:

This combination of traits enables the women in our study to express a unique approach toward dealing with disappointment, rejection or situations that don't work out their way. Dr. Greenberg explains, "They will feel the sting of being set back. They may even dwell on it, and tend to be a little self-critical. But then they will muster their assertiveness, shake off any negative feelings, learn what they need to carry on and a voice in the back of their heads will say, 'I'll show you.'"

Here's a look at specific qualities that distinguish women leaders.  It starts with these fabulous four:

1.  Persuasive
2.  Learn from adversity
3.  Inclusive
4.  Take risks

See if you have what it takes to succeed at becoming a standout leader.

The Qualities That Distinguish Women Leaders

Illustration credit here.

Article of Interest: How Not To Throw Your Business Plan Out the Window

Planning is a difficult process.  Business owners need to plan to launch new products, hit profitability goals and to attract funding.

Business moves fast: the product's features morph, new competitors emerge, or the economic climate shifts. When these changes occur, many people just throw their business plans out the window. For a plan to be truly valuable it needs to evolve with your company and stay relevant in the face of uncertainty.

Find out what the experts say about business plans, how to create one and how to keep it fresh.

Read:  Keeping Your Business Plan Flexible

Posted by:  Women Presidents' Organization Chicago

Video of Interest: Women Presidents' Organization

The Women Presidents' Organization (WPO) is the premier global peer advisory organization for women entrepreneurs with multimillion dollar businesses. Go here (/www.womenpresidentsorg.com) to learn more and join.

Article of Interest: Best Business Books for 2010

According to Strategy & Business, which I follow religiously, this is no time to be hunkering down and waiting for business as usual.  You've got to make things happen and spur innovation in remarkable ways.

In order to do that, reading helps enormously to foster breakthrough ideas.  Set aside quiet time to read, ponder and plan out what you want your business to look like in 2011 and beyond.

Here's a list that offers a good start. 

Illustration credit here.

Article of Interest: Thinking About Taking Your Business Global?

There are many factors to consider before you take your business global and Small Business Trends founder Anita Campbell covers five of them exceptionally well.

Read her contribution:

Preparing Your Business to Go Global

Since WPO is a global organization, you can quickly drive results for your company internationally by first connecting peer-to-peer (member to member) within WPO.  Take a serious look at how you can do business in the UK, Canada, Peru, South Africa and the United States -- locations of WPO chapters throughout the world. 

Posted by:  Women Presidents' Organization Chicago

Resource of Interest: shatterbox

For young people who love what they do, this site's for you: 

Shatterbox wants you to wake up in the morning and love what you do. So we’re going to introduce you to lots of people who do and help you find how to get there yourself.

And as you grow your business well beyond the million dollar mark, we want you.  Only women presidents and CEOs need apply:  Women Presidents' Organization.

Illustration credit here.

Posted by:  Women Presidents' Organization Chicago

Article of Interest: Freeing the Social Entrepreneur

Does this sound all too familiar?

Social entrepreneurs are often reluctant to relinquish control and create strong leadership teams. Unless they make this important transition, the organizations entrepreneurs worked hard to create are unlikely to scale or have the desired impact.

Whether you run a social enterprise or a business poised to scale up, this article will help you vault your company into high-growth phase.

Read the entire article at Stanford Social Innovation Review:

Freeing the Social Entrepreneur
by Chantal Laurie Below and Kimberly Dasher Tripp

Illustration credit here.

Article of Interest: Small Business Jobs Act

The article below examines more closely what’s in store for small businesses as a result of the new Legislation passage.

New Legislation Will Give SMBs a Break ... and Much More

Posted by:  Women Presidents' Organization Chicago

Interview of Interest: WPO Chicago Summit Sponsor Harris N.A.

I recently had the wonderful opportunity to visit with Janice Zimmerman and Maggie O'Brien, both V.P.s and Sr. Commercial Relationship Managers at Harris N.A.  The purpose of our gathering was to get a pulse on what's going on in the "business banking" world and to determine what SMBs should be looking out for relative to economic trends.  Here's the result of our conversation.

Delaney:  As bankers working with small and mid-size businesses, are your customers seeing signs of economic recovery and is this translating to improved financial trends for their business?

Zimmerman:  The good news is that many of our customers who were hard hit by the economic downturn are beginning to see signs of stabilization, and even slight recovery.  A decline in revenues prompted some customers to undergo the painful process of “right sizing” their operations and for others it provided the impetus to seek process improvements in an attempt to offset profit erosion.

Although the consensus among economists is that the deep and wide recessionary effects will make for a slow recovery, the businesses that have reacted quickly and decisively to the downturn can more effectively compete when demand for their products/services returns.  As we have seen in prior downturns, companies that have remained well capitalized will also be better positioned to take advantage of the many opportunities for growth and expansion that provide the silver lining in the dark cloud of a recession.

Delaney:  Many businesses really struggled during 2008 and 2009 but recently their performance has improved. How long will it be before they can be approved for bank financing?

O'Brien:  Every business’ situation is different and unique, but speaking in general terms, the bank will want to ensure that the improved performance that a business is experiencing is sustainable.

Generally, the bank will want to see at least 6 – 12 months of improved performance prior to issuing new debt.  The bank will also consider the strength of a company’s balance sheet. If a company generated losses in 2008 and 2009, the equity in their company may have eroded, and the owner will need to work together with their banker to determine the appropriate balance between debt and equity to fund their company’s operations as they move forward.

Delaney:  Given your observations of how businesses fared over the last few years, what major “lessons learned” can you share with business owners out there?

O'Brien:

1. The importance of adequate capital structure. Businesses need to have the right balance of debt and equity in order to withstand a downturn.
2. While growth is of utmost priority to most business owners, the focus should be on profitable growth that is funded with the appropriate balance of debt and equity.
3. While it can be very difficult to make the changes necessary to cut overhead as revenues fall, the businesses that made these changes immediately fared much better than those that waited hoping things would turn around.
4. Although no business owner enjoys talking about the hardships the company is facing, it is critically important to maintain an open dialogue with your banker so that there are no surprises.

Delaney:  What financing programs should SMBs be aware of?

Zimmerman:  There are a number of government programs in place to help support SMBs, including financing programs offered through banks and in conjunction with the SBA, the US Treasury Department, State Treasurer’s Office and many others.  Although many of these programs are offered to support growth and expansion efforts of the SMBs, some offer relief for existing debt in the form of a refinance. Your commercial banker is your best resource to see which program may help your business.

To learn more about Harris N.A., go here.

Article of Interest: Good Forecasts Hold the Key to Good Plans

In "Cleaning the Crystal Ball," authors Tim Laseter, Casey Lichtendahl, and Yael Grushka-Cockayne for Strategy & Business talk about how intelligent forecasting can lead to better decision making.

Competence in forecasting does not mean being able to predict the future with certainty. It means accepting the role that uncertainty plays in the world, engaging in a continuous improvement process of building your firm’s forecasting capability, and paving the way for corporate success.

A good forecast leads, through either direct recommendations or informal conversation, to robust actions — actions that will be worth taking, no matter how the realities of the future unfold. 

As the authors state, "all models start with assumptions."  What are yours?

Read the entire article here.

News of Interest: Ladies, Get the Edge in Fed Contracts

Listen up WPO members! You will soon have a better chance of getting federal contracts for everything from consulting and supplies to construction and food services, thanks to new rules that give female-owned businesses an edge in the bidding process.

The Small Business Administration announced last week that it had finalized rules for its Women’s Procurement Program. This program gives female business owners access to an estimated $25 billion, 5 percent of the federal procurement budget. In some cases, it will give such businesses a slight advantage in bidding for federal contracts.

Women Impacting Public Policy is a nonpartisan group that helped bring about the changes. It has taken more than a decade to implement the program since Congress approved it in 2000, and the federal government hasn’t met its own goals for contracting with female-owned firms.

Read more here.  While you are at it, check out this piece which covers some good government contract advice (healthy dose of reality).

And please let us know when you land your first contract.  We want to report out to the Feds that this is working!

News of Interest: Background on the Small Business Bill

President Obama signed the Small Business Jobs Act, a bill that will give small businesses support and incentives to help them grow and hire.

And the bill includes eight new small business tax cuts – and applying to small businesses’ taxes for this year – providing an immediate incentive for businesses to make new investments and expand.

For example:

•  If you are a small business and you buy new equipment, you can immediately write off the first $500,000 of your investments;

•  If you are one of over one million eligible small businesses, key long-term investments in your company will be subject to zero capital gains taxes;

•  If you are an entrepreneur and take a chance on a new idea, you can deduct the first $10,000 of your start-up costs;

•  And if you are self employed you can deduct 100 percent of the cost of health insurance for you and your family from your self-employment taxes.

Read more details (including about tax cuts) here.

Event of Interest: Women Presidents' Organization (WPO) and American Express OPEN Regional Program in Chicago on October 26

Here's what people have already said about the program:

"I own an advertising agency and have experienced many brand seminars, but Neeli's seminar was like an MBA-level crash course on branding -- amazing -- and I walked away with tools that can be integrated immediately to develop a company's brand." ~ Beth Bronfman, Leibler Bronfman Lubalin Advertising, WPO New York I & Platinum Member
....................

"I attended both Neeli's workshop at our April WPO conference as well as a special half day workshop this summer she did with my Platinum group. Neeli's wisdom about marketing, brand development and customer service was tremendous, presented with great humor and insight. She gave me a better understanding about brand development and retention globally, as well as steps I might consider to help Adesso's business and brand recognition. So I suggest you run, not walk, to Neeli's WPO workshops this October!" ~ Margaret A. Traub, President & CEO, Adesso Inc

Registration here (http://tinyurl.com/2a4p2tu). Lunch is included. Seating is limited. Better grab your place at the table fast!

See you there!

Article of Interest: Marsha Firestone Quoted in The Wall Street Journal

Women Presidents' Organization (www.womenpresidentsorg.com) President and Founder, Marsha Firestone, Ph.D. (pictured), is quoted two different times in The Wall Street Journal:

Portal Aims to Ease Contract Bids for Small Business

Marsha Firestone states:
In, Enterprise Dispatch, she states:

The new portal initially isn't "going to make a huge dent," because only six large corporations are so far involved, adds Marsha Firestone, president of the Women Presidents' Organization, a New York group made up of mostly small "B2B" companies. "But if it grows and a lot of contracts come out of that, it could," she says.

Further, she is quoted:

'Supplier Connection': a portal for doing business with large corporations - smartplanet by IBM

Posted by: Women Presidents' Organization Chicago

Article of Interest: Are You a TED Talk Person?

Do you have brilliant ideas (e.g., you are considered one of the best minds in business), know how to present well and like to share? Then you're poised to become a TED talk person.

Becoming a TED talk person can boost your business and brand's awareness on a grander scale than ever imagined. Plus, you'll be in good company with the likes of Richard Branson, Malcolm Gladwell, Julia Sweeney, Isabel Allende and Chris Anderson (owner of TED) -- to name just a few of the elite business people who have given TED talks.

We're talking radical openness here that the world can tap into. Are you ready? Then read all about the global education brand of the 21st century and see if you have what it takes to participate:

How TED Connects the Idea-Hungry Elite (Fast Company)

Sample TED talk: Sheena Iyengar on the art of choosing.

Illustration credit here.

Posted by: Women Presidents' Organization Chicago

Cool Tool of Interest: Twitter as a Daily Newspaper

A great way to stay on top of all that is shared by the people you follow is through paper.li, which organizes links shared on Twitter into an easy to read newspaper-style format. Newspapers can be created for any Twitter user, list or #tag.

Samples for review can be found at: The Twitter Fast Company Daily, The Twitter The Economist Daily, The Twitter Entrepreneur Mag Daily and I just created an account under my own name here (as shown above).

It's as simple as 1-2.3 to get started and can be used to get the word out on your business online in a whole new way, especially if you click on the "promote it" button.

Start your business daily newspaper now. Go here.

Posted by: Women Presidents' Organization Chicago

Cool Tool of Interest: Google Realtime

In case you've been too busy to catch the latest and greatest from Google, they just released a new and improved version to their Updates with Realtime Search (http://www.google.com/realtime), which lets you see up-to-the-second social updates, news articles and blog posts about hot topics worldwide.

Getting public response or a reaction is getting speedier and more efficient all the time. WPO members can use this tool to their competitive advantage by utilizing instant knowledge of what people are thinking, instead of waiting for polls, studies or reports on what the public wants.

Use the results to power up and strategically grow your business.

Give it a try here. We did and found all sorts of interesting real-time news on the Women Presidents' Organization!

Graphic illustration source here.

Article of Interest: Build a Better Whatchamacallit

What does your business have in common with creators of products that grill a burger, catch varmints, and save the earth? Design excellence.

Learn more here:

Build a Better ... Mousetrap

Pictured: Guaraná Jesus is a Brazilian soft drink produced by bv0, a Coca-Cola bottler based in São Luís and one of the winners of the 2010 International Design Excellence Awards.

News of Interest: 7th Annual WPO Chicago 2010 Summit a Huge Success

We are happy to report that our 7th Annual WPO Chicago 2010 Summit held August 12th at Carnivale Chicago and sponsored by Harris N.A. and Wm. Wrigley, Jr. Company was a huge success.

Program presenters were as follows:

• Andy Busch, Global Currency and Public Policy Strategist, BMO Capital Markets, Harris, N.A., talked about how the global economic environment can and has influenced small business in the United States and how to use this information to better position your business for future success.

• Donna Westerman, Director Supplier Diversity and Social Responsibility, WW Procurement, Wm. Wrigley Jr. Company, spoke on the importance of Corporate Social Responsibility (CSR) to WBE’s, why it is relevant and what corporations are expecting of their suppliers.

• Barry Moltz, expert on how to get your business unstuck, talked about how your business can thrive during any economy.

• The Riot Act showcased how improvisation can be used in business to explore serious issues in unconventional ways.

The highlight of the day was a surprise appearance by WPO President and Founder, Dr. Marsha Firestone, who spoke about the global growth of the Women Presidents' Organization. We were honored that she could participate in the most important event of the year for WPO Chicago.

Throughout the program, which ran from 11:00 a.m. until 9:30 p.m., we had the opportunity to learn, network, be inspired and grow together. It was in line with our theme: "NEW DECADE: Finding Inspiration, Innovation and Pro$perity." Our long-time friend and colleague, Hedy Ratner, co-founder of the WBDC Chicago, joined us for lunch.

Thank you to our presenters and sponsors for supporting and participating in our program this year and special appreciation to our WPO Chicago Steering Committee Members for their help in putting together this fantastic program. We also wish to thank our national sponsors for their continued support to WPO.

Pictured (top): Room setup before members and guests arrive. Center photo: Lunch part of program. Bottom photo: Dr. Marsha Firestone, President and Founder, WPO, speaking during the Summit lunch.

Photo credits: Laurel Delaney at WPO Chicago Summit, Carnivale Chicago 8/12/10.

Posted by: Women Presidents' Organization Chicago

Article of Interest: Embrace of Power

As more high-achieving women -- such as the entire WPO membership base spanning across four continents -- grow their businesses to multimillion dollar + levels, they will continue to embrace power to get things done.

Read this controversial piece, "Women and the Uneasy Embrace of Power." Share your comments at the origin site and report back to us with your insights because we always like to hear from you.

The comments (33+) are worth a look.

Article of Interest: Make Changes That Last

Growing your business is not a sprint. It's a marathon that requires a plan and a process involving trials, errors and successes.

After analyzing decades of scientific research and case studies, best-selling authors Chip and Dan Heath have discovered that there are simple things you can do to snap the cycle of busted resolutions (things you should be doing that you are not for whatever reason) which can get in the way of making progress with your company.

Here's a snapshot (adapted from "Switch: How to Change When Change Is Hard,” by Chip and Dan Heath):

• Stop procrastinating.
• Make better decisions.
• Give yourself crystal-clear directions.
• Handle big changes.
• Keep yourself motivated.
• Make your environment support your change.

Go here for the entire article.

Are you practicing any of the above as you build your business? If so, we'd love to hear from you on exactly what you are doing and how you are doing it.

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

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.

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.

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

Event of Interest: Edward Lowe Foundation at Big Rock Valley

Having just completed an enlightening business leadership retreat at the Edward Lowe Foundation (ELF) with WPO Chicago downtown III chapter members, it only seems fitting to bring attention to what ELF at Big Rock Valley is most known for: helping business owners reach second-stage growth.

How do you define second-stage growth?

Second-stage companies are those that have grown past the startup stage but have not grown to maturity. They have enough employees to exceed the comfortable control span of one owner/CEO and benefit from adding professional managers, but they do not yet have a full-scale professional management team.

A business typically begins to enter its second stage when it approaches $1 million in total receipts. The transition process can continue until it hits $100 million in receipts, although for most companies $50 million represents the upper limit of second stage. By $100 million, a firm will have to be professionally managed in order to continue to thrive and grow and be in its third stage of development. Employee numbers and revenue ranges vary by industry, but the population of firms with 10 to 100 employees and/or $750,000 to $50 million in receipts includes the vast majority of second-stage companies.

Beyond this, there are other signs that indicate to a CEO that second stage is at hand.

Read about them here.

Where is your business at? What have you done lately to take yourself out of your business and reflect on "next-level thinking" with your peers?

Photo credit: Laurel Delaney, WPO Chicago Chapter Chair

Save the Date: 7th Annual WPO Chicago 2010 Summit

Article of Interest: How to Create an iPhone App for Your Business

Let's face it, we all like to stay ahead of technology plus save money at the same time. Here's a nifty little article, "Why and How To Create an iPhone App for Your Business," that helps you understand the power of providing a useful service to your customers. Remember it all starts with a good idea.

Read more here.

Related resources:

• How to Create Your First iPhone Application (very comprehensive yet easy to follow)
• iPhone Dev Center - Apple Developer
• Creating an iPhone Application

Event of Interest: The Senior Businesswomen's Forum

On June 3rd, many of us from WPO Chicago had the great pleasure of attending Foley & Lardner's event, "Getting Your Message Out In An Over-Messaged World," -- hosted by Miki Vucic Tesija (pictured and a WPO Chicago downtown I chapter member) and Mary Kay Matire, partners at Foley & Lardner Chicago office. They were responsible for the content of this program along with co-sponsor Huron Consulting Group.

We heard from award-winning journalist Anne Kavanagh and award-winning producer Maria Dugandzic on how to make yourself heard in a world consumed with noise.

Foley & Lardner is a national sponsor to the Women Presidents' Organization and also hosts our WPO Chicago downtown II chapter meetings. We are very proud of this amazing relationship -- so "thank you" to everyone at Foley & Lardner for your continued support to the WPO! We appreciate it.