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.

Article of Interest: Making Sense of Twitter

Many business owners are still trying to figure out how to use Twitter to benefit their business. Is that you too? This article, "Reach Customers in 140 Characters, All of Them Free," helps you make productive use of the service.

A couple of highlights on how to get started:

• First of all, listen.
• Do not be boring.
• A live version of a FAQ.
• Create a focus group.
• Soapbox for thinkers.
• Starting small is fine.

Read the entire article here.

Follow us on Twitter @WomenPresidents
Use hashtag #WPO

Event of Interest: Women's Leadership Breakfast 5/25/10

The Executives' Club of Chicago Women's Leadership Breakfast, "Personal Board of Directors: Building Your Powerhouse Network" will be held Tuesday, May 25, 2010 at the The Hilton Chicago, Grand Ballroom (720 South Michigan Avenue) from 7:00-9:00 a.m.

Description:

With all of the downsizing and diminishing job opportunities, we are in a climate that cultivates an "every woman for herself" mentality. In these tough economic times, you can experience bad behavior from BOTH sexes. But there is some heartening news, women are helping women and are concentrating on a new type of networking. This panel will discuss alternatives to hiring a career coach like cultivating your own personal board of directors. Learn how convening individuals from past jobs and professional associations can bring a fresh perspective on individual strengths, values, goals and next steps.

Moderator: Maria Bartiromo (pictured), Anchor, CNBC's "Closing Bell," Host and Managing Editor "The Wall Street Journal Report with Maria Bartiromo"

Panelists: Carol Bernick, Executive Chairman of the Board, Alberto Culver Company; Christy Carpenter, Executive Vice President & Chief Operating Officer, The Paley Center for Media; and, Michele Coleman Mayes, Senior Vice President, General Counsel and Chief Legal Officer, Allstate Insurance Company

The Women Presidents' Organization Chicago is a proud partner of this empowering high-level women's program.

Registration is 7:00 a.m. Seated Breakfast, 7:30 a.m. Panel Discussion, 8:00 a.m.

For more information and to register, visit here.

I hope to see you there! Feel free to contact me to arrange a meeting in advance (ldelaney(at)globetrade.com).

Article of Interest: Values-Driven Companies

Whether you run a Fortune 500 company or a vibrant small business, the values you put forth play a vital role in managing and transforming a company.

According to Harvard Business School Professor Rosabeth Moss Kanter ...

A new type of 21st century company is emerging that is transforming how business is conducted. These are values-driven companies that define a core set of values and rely on these values in making all strategic decisions. Such companies are transforming themselves, their industries, and the world.

A snapshot of the key concepts includes:

• Ability to change themselves and the world because they put values at the center of their company.
• Gain tremendous advantages.
• Hold true to core values.
• Identify, understand, and stay true to values.
• Operate a business that brings value to the world.
• Influence the behaviors of other corporations and leaders.

For more in depth knowledge, go here.

Are you willing and able to change and bounce back quickly from challenging situations? As always, we welcome your comments.

Article of Interest: Are You in Pursuit of Perfection?

As you grow your business, are you in constant pursuit of perfection, new opportunities and new possibilities?

Then this little BIG article will fuel your desires.

Read: Steve Jobs: Master of Innovation

Find out how he changed the way we work, play and communicate -- with the best yet to come.

Are you stirring the pot to build a business of common good and lasting value? Let us hear from you. We welcome your thoughts and ideas.

Article of Interest: Powerful People Are Better Liars

Once in a while we have to take a chance at provoking (challenging) our readers. This is one of them. We read, "Defend Your Research: Powerful People Are Better Liars," by Dana Carney, published in the current Harvard Business Review and thought: Is this true?

Read it for yourself and let us know what you think. We all know the "type." They exist, unfortunately, everywhere but how do you deal with such a person, especially if they work for you or you work with them in some capacity at your business?

News of Interest: A High Five to the WPO High Fliers

Just returned from the WPO Annual Conference in Ft. Lauderdale, Florida at The Westin Beach Resort and I feel good -- inspired and ready to take on the world! What about you? Share your successes, powerful moments and learning lessons with us. How do you plan to use the information you received at the conference to grow your business? We welcome hearing from you.

In the meantime, check out some of the amazing media coverage we received during the conference:

The Wall Street Journal
High Fliers: Top Women-Led Companies

Snippet:

Marsha Firestone, WPO's founder and president, says the group began compiling the rankings three years ago in an effort to dispel the notion that female-led companies are primarily mom-and-pop operations in "retail, cookie-making or crafts." Most on the list are business-to-business companies, many in traditionally male-dominated fields such as transportation, construction, manufacturing and distributing, she says.

SmartMoney.com
Trailblazing Women Business Owners Achieve Rapid Growth Despite Challenging Economy

Snippet:

"The Top 50 list exemplifies the vital role women business owners have on boosting the economy and enhancing job growth overall," says Marsha Firestone, Ph. D., president and founder of the WPO. "We are pleased to partner with American Express OPEN to honor these powerful women and recognize their triumphs."

MiamiHerald.com
Female Executives Share Secrets of Success

Snippet:

A woman CEO may not want to ask for help to be successful, but the Women Presidents' Organization breaks that mindset in order to take women-owned businesses to the next level.And one more! "There's a perception out there that women grow and run very small mom-and-pop operations and that they are mostly crafts or retail or cookies, and that's not true at all,'' said WPO founder and President Marsha Firestone.

Firestone said some of the fastest-growing women-owned companies are in industries that aren't traditionally women dominated.

Catch us if you can! And if you'd like more information about WPO, please contact our headquarter office at 212-688-4114 or email info@womenpresidentsorg.com. In Chicago, call 773-381-1700 or email ldelaney(at)globetrade.com.

We look forward to hearing from you.

Photo credit: Starwood Hotels, The Westin Beach Resort, Fort Lauderdale, Sky Terrace where we had our "dessert" reception on the last evening of the conference.

Added 4/27/10 at 9:39 CDT -- WomenEntrepreneur.com
WPO Conference: 90+ Guru & Salsa Dancing, Too (hat tip to Karen Barnett for the info).

News of Interest: A New Kind of Company

When you started your business, you most likely went through the process of determining which type of entity best suits your short and long term needs. For example, some of your options might have been to form a limited liability company (LLC), C corporation or S corporation. Hopefully your attorney guided you along the way by asking the right questions about how you envision operating your business five, ten or twenty years out.

For those of you who are considering new business initiatives, especially if it is caused related or a socially responsible enterprise, you might want to take a look at this new type of business that redefines the very purpose and meaning of a business.

It's called a B Corporation. What are B Corporations?

B Corporations are a new type of corporation which uses the power of business to solve social and environmental problems. B Corporations are unlike traditional responsible businesses because they:

• Meet comprehensive and transparent social and environmental performance standards.
• Institutionalize stakeholder interests.
• Build collective voice through the power of a unifying brand.

Check it out and find out why it matters here:

Certified B Corporation

Resource of Interest: Google AdWords: Keyword Tool

We recently had Internet Marketing Consultant Amanda Bury from ReachLocal give a talk at our WPO Chicago downtown I chapter meeting and she did a very good job educating us on what SEO (search engine optimization) and SEM (search engine marketing) do for your online business, what the difference is between the two and how to use both effectively to bring greater attention to your business on the Internet.

One tool I always use for my business, and this is outside of the bounds of what Amanda spoke about, is Google AdWords: Keyword Tool. It's a free resource that lets you see what folks are typing into Google. I access great competitive information from it, use it to determine the best choice of words for blog titles and even determine the name(s) of new businesses that require a catchy domain name.

Tips for using Keyword Tool:

• Find keywords based on your site content. Instead of entering your own keywords, try using the Website Content option. It lets you enter the URL of your business website, or of any site related to your business. The AdWords system will then scan your page and then suggest relevant keywords.


• Create new, separate ad groups with similar keywords. We recommend creating several ad groups in each campaign, each with a small, narrowly-focused set of similar keywords. Use the Keyword Tool to discover relevant keywords, then divide them into lists of 5 to 20 similar terms. See examples of ad groups promoting a single product or service and multiple products or services.


• Identify negative keywords. The Keyword Tool can help you identify off-topic keywords that users may be thinking about. Suppose you sell cut flowers and you give the Keyword Tool the keyword 'flowers.' It may suggest the related term 'gardens,' and you may want to add that term to your ad group as a negative keyword. That will keep your ad from showing on searches for 'flower gardens' or similar terms. This helps make sure only interested customers see your ads.


• Specify a language and location. If you're using the Keyword Tool while signed in to your account, you can modify your keyword search with advanced settings and tailor results to a particular location and language. If you happen to be targeting Spanish speakers who live in France, make sure you set the Keyword Tool to that language and location.


• Start broad and then get specific. Try broad terms like 'flowers' in the Keyword Tool first. Then try specific terms like 'red roses' or 'miniature cactus.'

On our own, we did a test (as illustrated above) using keywords: 'women presidents' (clicked the box to use synonyms) and found these keywords related to the term(s) we entered that were searched regularly:

women college presidents
women presidents in the world
women university

What does that mean? You have to factor it in when you create, for example, blog post titles or designate choice paid search listings with keywords for your business. There's so much more -- so spend some time reviewing and learning about how you can use this tool to grow your business.

Give it a whirl here:
Google AdWords: Keyword Tool

Stuck? There's always an online classroom.

Article of Interest: Total Virtual, Is That Your Business?

Have you fantasized about ditching your office space, saving a boatload of money (rent) and taking your entire enterprise virtual? It's in line with the expression: If you can dream, it, you can do it! We know for a fact that many WPO members are already running thriving virtual companies. Technically, your office is wherever you are.

If you want a practical look at the why, the how, and the why not of going virtual, think of it as your blueprint for your officeless future, read:

"The Case, and the Plan, for the Virtual Company"

While you are at it, check out: "How Virtual Offices Work."

Let us know what you think of this glimpse at the future of work.

News of Interest: Get Ready For the Next Big Gamechanger

Oftentimes it's the little things that sneak up on us while we run our businesses. Suddenly, out of nowhere, we find ourselves shaking our heads wondering how or why we fell behind, especially concerning the powerful capabilities of the Internet.

Take blogs, for example, remember when people questioned why in the world anyone would start a blog? Pause for a moment to appreciate the explosive growth in blogosphere. Blogs increased from 4,000 in 2004 to currently more than 133,000,000 (is anyone still counting?). Note: the Women Presidents' Organization launched its blog in 2006!

Then came Linked In, Facebook and Twitter. Many of us could not comprehend what these new media platforms meant for our businesses. Now we get it. As a result, we're racing ahead to catch up and leverage the digital revolution in a way that drives positive results for our businesses.

And now, along comes still another new magical and revolutionary device. It's called the iPad (a lightweight screen meant to move). Think it won't change the way we do things? Guess again.

The iPad has all the signs of a global gamechanger. Ready yourself and your business for it now (official release date is April 3). You want to win the race this time around.

Read: 13 of the Brightest Tech Minds Sound Off on the Rise of the Tablet

Photo credit: Apple

Breaking news: Well what do you know ... just in via online by the king of tech reviews, Walter S. Mossberg, WSJ (April 1, 2010):

Laptop Killer? Pretty Close
iPad Is a 'Game Changer' That Makes Browsing and Video a Pleasure; Challenge to the Mouse

News of Interest: Women Presidents' Organization Has a New Blog Look

The online paint has finally dried. The Women Presidents' Organization (WPO) headquarter office has a new look at their blog.

Pay a visit here.

If you've been following, be sure to change the RSS feed and sign up to receive notifications of blog posts via email.

Now you have WPO 360º!

Article of Interest: Reconsider Your Hiring Practices

USA Today columnist Rhonda Abrams challenges women business owners to change the way we think about hiring if we want to grow — really grow — our companies.

She highlights:

Here's a startling fact: nearly 7% of male-owned businesses gross more than a million dollars a year, but less than 3% of women-owned businesses do. In fact, there are only about 250,000 women-owned businesses that generate $1 million or more in sales a year. One reason: women's reluctance to hire.

Abrams also emphasizes it takes a confident women to be in charge of others.

Read the entire article here. Agree? Disagree? Weigh in with your comments. We always enjoy hearing from you.

Photo credit here.

News of Interest: U.S. $6 billion a Year in Export Financing for Small Businesses

For those already running a global small business or thinking about taking a business international, Commerce Secretary Gary Locke pledged U.S. $6 billion a year in export financing for U.S.A. small businesses through the Export-Import Bank of the United States.

What does this mean for you and your business? If you haven't looked overseas to build sales for your business, you should now.

The National Export Initiative is focused on three key areas:

1. A more robust effort by this administration to expand its trade advocacy in all its forms, especially for small- and medium-sized enterprises. This effort includes educating U.S. companies about opportunities overseas, directly connecting them with new customers and advocating more forcefully for their interests.

2. Improving access to credit with a focus on small- and medium-sized businesses that want to export.

3. Continuing the rigorous enforcement of international trade laws to help remove barriers that prevent U.S. companies from getting free and fair access to foreign markets.

As Commerce Secretary Gary Locke says:

“Increasing the export of American products and services to global markets can help revive the fortunes of U.S. companies, spur future economic growth and support jobs here at home."

Discover how you can put the world in your hands and use the power of the U.S. government to increase your export sales here.

News of Interest: Two WPO Chicago Members Inducted Into Chicago Area Entrepreneurship Hall of Fame 2/25/10

We are thrilled to report that not one but two Women Presidents' Organization Chicago members have been inducted into the prestigious Chicago Area Entrepreneurship Hall of Fame (through the Coleman Foundation Entrepreneurship, Institute for Entrepreneurial Studies, University of Illinois at Chicago).

Category: Classic Start-up and Lifetime Entrepreneurs

The new members are:

• Francine Manilow, President (pictured left), Manilow Suites (downtown I member)
• Jennifer Bertoglio, Founder, President & CEO (pictured right), LawyerLink (downtown II member)

Those inducted into the Chicago Area Entrepreneurship Hall of Fame embody the entrepreneurial spirit of Chicago area businesses: a determination to succeed, an unsurpassed commitment to excellence, and the rare ability to meet challenges and recognize opportunities through innovation, proactiveness and risk taking.

The Judges and their world-class sponsors, American Chartered Bank, Grant Thornton, Allscripts, MarketM and Crain's Chicago Business welcomed Francine and Jennifer as members this evening, February 25th, at the Chicago Hilton and Towers.

Of the many thousands of entrepreneurs in the Chicago area, the students, faculty, sponsors, and Judges select very few winners each year so this is quite an accomplishment for Francine and Jennifer.

We are very proud of them; congratulate them on this great achievement and wish them continued success. More importantly, we are very proud that they are WPO Chicago members.

Also note: Crain's Chicago Business, Enterprise City, "UIC adds names to entrepreneurs' Hall of Fame"

Photo credit: Laurel Delaney, WPO Chicago

Articles of Interest: POWER Your Business Out of the Recession

Harvard Business Review Magazine is a good resource to refer to from time to time. And in this case, it might help POWER you and your business out of the recession.

Here is a sampling of complimentary articles for your use.

March 2010

• The Big Idea: Funding Eureka!

  Nathan Myhrvold

• Women in Management: Delusions of Progress

  Nancy M. Carter and Christine Silva

• The Soot Opportunity

  Jessica Seddon Wallack

• Engaging the “Pole Vaulters” on Your Staff

  Katie Truss and Emma Soane

• One Café Chain’s Facebook Experiment

  Utpal M. Dholakia and Emily Durham

• Vision Statement: A Better Approach to China’s Markets

  Max Magni and Yuval Atsmon

• Column: Think Outside the Building

  Rosabeth Moss Kanter

• Column: Who Do These Bankers Think They Are?

  Joseph E. Stiglitz