Book of Interest: Start-up Nation

Why does Israel produce more start-up companies than large, peaceful, and stable nations like Canada, Japan or India?

There's one way to find out or at least get a few clues.  Read "Start-up Nation: The Story of Israel's Economic Miracle."

Start-up Nation examines the lessons of the country's adversity-driven culture, which flattens hierarchy and elevates informality -- all backed up by government policies focused on innovation.  In a world where economies as diverse as Ireland, Singapore and Dubai have tried to re-create the "Israel effect," there are entrepreneurial lessons well worth noting. 

Go here to find out how Israel has beaten the odds to become a major player in the global business world, especially in the technology space and a main contributor to global culture.  After you read the book, see how you might develop the next generation of corporate leaders or put those within your business who question authority to work!

Video of Interest: Judi Sheppard Jazzing It Up in Chicago!

Judi Sheppard Missett, a longstanding WPO member, jazzes it up in Chicago!  She rocks and we are very proud of her.

Book of Interest: Confidence

Throughout the year, I've tried to read at least one good business book a month and this month it is "Confidence:  How Winning Streaks and Losing Streaks Begin and End" (2004) by Rosabeth M. Kanter, who holds the Ernest L. Arbuckle Professorship at Harvard Business School.

Professor Kanter is in the upper crust of great minds such as Jim Collins, Gary Hamel, Peter Senge and Clayton Christensen.  Reading nearly every book she has ever authored, I will never understand why she is not on the best seller list more often. 

But to "Confidence."  If you want to know why some people and organizations always seem to land on their feet, while others, equally gifted, stumble again and again, then this book is for you.  I highly recommend it.  It's well-written, well-researched and will help you win in any global game you're playing.

From Amazon book review:

Rosabeth Moss Kanter will convince you that the goal of winning is not losing two times in a row. In her view, success and failure are not events, they are self-fulfilling tendencies. "Confidence is the sweet spot between arrogance and despair--consisting of positive expectations for favorable outcomes."

Meanwhile, learn what another entrepreneur thinks of the book and how it rang true to him as he rides out his own firm's recent acquisition of a troubled firm and what he did to turn things around.

News of Interest: Everything You Want to Know About Cloud Computing

We wrote about cloud computing on July 5, 2010.  What's happened since then?  Plenty.

Recent IDC cloud research shows that worldwide revenue from public IT cloud services exceeded $16 billion in 2009 and is forecast to reach $55.5 billion in 2014, representing a compound annual growth rate of 27.4%.

Learn everything you need to know about cloud computing to bring your business up to speed -- from new business models to the biggest cloud opportunities to how organizations can keep up with new architectural paradigms and offer more flexibility with less customization and more integration -- it's all here.

IDC Cloud

Illustration credit:  IDC Cloud

Posted by:  Women Presidents' Organization Chicago

Article of Interest: Unbeatable Customer Care

Whether you run a local or global company, customer care should be a No. 1 priority for you as you grow your business.  Here are ten ways to provide unbeatable customer care. 

Developing Great Global Customer Relations

Full disclosure:  Laurel Delaney serves as the Import and Export Guide for About.com (a New York Times company).

News of Interest: Woman-Owned Businesses Show Strength, Versatility and Growth

According to the annual survey by the Women Presidents' Organization and sponsored by Wells Fargo, it shows 76% of companies have maintained or grown their employee base.

Women Presidents have shown they can adjust to the changing economic climate. Results from the surveyed membership indicate 82% of multi-million dollar business owners have positive outlooks and experienced company growth in 2011, according to the annual economic survey by the Women Presidents' Organization (WPO), the premier peer advisory organization for women entrepreneurs.  Despite the economic downturn, 42% of these CEOs and presidents were able to give their employees raises while, 49% maintained current employee salaries.

Other interesting facts surveyed by WPO:

• 58% of member businesses have grown since joining; 75% of these believe WPO has helped them grow
• 80% believe the WPO helps manage business concerns in the current economic climate
• 72% believe their WPO chapter is the most valuable resource that WPO provides

Read more here.

Event of Interest: WPO Fall Regional Seminar Series 11/2/11 - LAST CHANCE!

Register now for the WPO Fall Regional Seminar series "Stirring it Up:  How to Grow Your Business, Make Money, and Save the World" featuring Gary Hirshberg, Chairman, President and CE-Yo of

(L) Samuel Kaymen and (R) Gary Hirshberg

Stonyfield Farm, sponsored by American Express OPEN.

Chicago, Illinois
Wednesday, November 2, 2011
4:30 p.m. - 7:30 p.m.
The Westin Michigan Avenue
909 North Michigan Avenue
Chicago, IL 60611

What you will learn:

1. The strategy that Gary Hirshberg put into action that led to Stonyfield’s growth from its infancy as a seven-cow organic farming school to its current $370 million in annual sales.

2. How Stonyfield has parlayed its social media platforms and marketing initiatives into successful and authentic communication with consumers.

3. How Stonyfield has challenged the myth that social or environmental missions conflict with the company's financial objectives and instead created a "win-win-win-win-win-win-win" business model in which all stakeholders (employees, investors, customers, consumers, suppliers, farmers and shareholders and even the cows) all win.

FINAL CALL!  Click here to register.   Private affair:  For WPO members and prospective members only. 

Link to Samuel Kaymen and Gary Hirshberg Stonyfield story

Event of Interest: WPO Fall Regional Seminar Series 11/2/11

Register now for the WPO Fall Regional Seminar series "Stirring it Up:  How to Grow Your Business, Make Money, and Save the World" featuring Gary Hirshberg, Chairman, President and CE-Yo of Stonyfield Farm, sponsored by American Express OPEN.

Chicago, IL
November 2, 2011
4:30 p.m. - 7:30 p.m.
The Westin Michigan Avenue
909 North Michigan Avenue
Chicago, IL 60611

What you will learn:

1. The strategy that Gary Hirshberg put into action that led to Stonyfield’s growth from its infancy as a seven-cow organic farming school to its current $370 million in annual sales.

2. How Stonyfield has parlayed its social media platforms and marketing initiatives into successful and authentic communication with consumers.

3. How Stonyfield has challenged the myth that social or environmental missions conflict with the company's financial objectives and instead created a "win-win-win-win-win-win-win" business model in which all stakeholders (employees, investors, customers, consumers, suppliers, farmers and shareholders and even the cows) all win.

Click here to register.   Private affair:  For WPO members and prospective members only.  Only a few seats left!

Article of Interest: Time As a Means to Happiness

New research takes a fresh look at the topic of happiness.  You can run a successful business and make a ton of money but what if happiness is not something you feel?

According to "If Money Doesn't Make You Happy, Consider Time," the authors discuss how happiness is indeed a consequence of the choices people make.

So what can people do to increase their happiness? Their answer is surprisingly simple: spend your time wisely. Careful though.

You will be surprised to learn how people spend their time.

Although happiness is clearly relevant for individuals, businesses should also pay attention. Building a workforce of highly qualified, hard-working, and loyal employees is an essential aspect of staying competitive in today's global markets. Therefore, being concerned about employee happiness is not just a moral thing to do, but it makes smart business sense as well.

Read the entire article along with discovering the five time-spending happiness principles here.

And the author's tip to finding the best road to happiness?   Spend time with the people you love doing the things you love.  

Download PDF file:

If Money Doesn't Make You Happy, Consider Time," Jennifer Aaker, Melanie Rudd, Cassie Mogilner, Journal of Consumer Psychology, 2011.

Posted by:  Women Presidents' Organization Chicago 

Article of Interest: How to Impress Your Bank

First rule of thumb:  Know how much you need to borrow - and why.  Here are some tips (and tools) on how to not just impress your bank but make the most out of the relationship.

Second rule of thumb:  Know your numbers.

Read the entire article:  How Can Entrepreneurs Impress Their Bank? | Chief Executive Magazine

Article of Interest: How to Do Business in China

Nanjing, China

At some point with a business, you look at how to achieve greater and faster growth without breaking the bank.  Expanding internationally is a wise choice.

Below, Inc. Magazine contributor David Freeman makes a solid case for doing business in China.  Although China is a complicated and a frustrating market to enter (definitely not for the timid business owner), it does offer unlimited upside growth potential for a business. After all, we are talking about selling to more than 1.3 billion consumers.

Read:  How to Break Into China

For additional help in going global or entering China, visit:  About.com Import and Export Guide site, The Global Small Business Blog and Women Entrepreneurs GROW Global (full disclosure: Laurel Delaney manages these sites).

Posted by:  Women Presidents' Organization Chicago

Article of Interest: Growing Firms Seek Part-Time Execs

According to the article referenced below, mid-size companies -- considered the engine for future economic growth and job creation -- are reporting a greater demand for part-time high-level executives as the economy recovers.  Even though the article focuses on Detroit, this might be indicative of just about any major city in the United States with a high concentration of business owners.

When a company reaches several million dollars in annual revenues, its need for at least a part-time chief financial officer instead of a bookkeeper or a part-time chief technology officer in lieu of a web technician becomes undeniable, Fowler said.

"By the time you get to $5 million, your financial systems will have to be pretty sophisticated for you to grow your company," he said.

Something to think about and seriously consider.

And of course, many WPO members are at a revenue level that supports this notion:

"However, once most companies hit the approximately $15 million mark and they see a growing revenue stream, they want full-time employees at the C-level," Holland said.

Read more:  "Growing firms seek part-time execs"

Article of Interest: How to Put Your Strategic Growth Drivers In Place

To build and grow your business during difficult economic times, put the following three pieces of advice into place:

•  Preserve your cash.
•  Be predatory from a sales and marketing perspective.
•  Be opportunistic toward acquisitions.

Snippet:

... companies are proving that, if a business has strategic growth drivers in place from the very beginning, it will have the opportunity to grow, no matter what the economic climate. A fundamental piece to this puzzle is ensuring that the business model that you create and develop enables value creation and the possibility for creating a successful business, not just a successful product line.

 Learn more about how to do this:

"Three Tactics For Building a Successful Business in a Bad Economy."

Article of Interest: Tips On Managing Experienced Workers

Here's a good look at how to manage experienced workers and at the same, stay on top your game.

Richard Branson on Managing Experienced Workers || Entrepreneur.com

Excerpt from article:

... if you want to stay at the top of your game and work smoothly with your younger colleagues, you have to embrace change.

Video of Interest: Why Women-Owned Business Owners Succeed

Blog Post of Interest: How to Think and Act Different

This one's for Steve ... reflecting on his 2005 Stanford commencement address ... lessons we can all learn as we grow our businesses.

Reflecting on Steve Jobs' Words of Wisdom

Are you putting a ding in the universe?  What are you going to do about it?

Note:  Authorized biography on Steve Jobs coming out soon.

Photo credit here.

Article of Interest: The Days of Middle Managers Are Over

Call it what you like -- extinction, thing of the past or obsolescence -- but the potential death of mid managers is something we should all look at within our own organizations. For example, do you have a General Manager? How many middle managers is he or she managing? The following article warrants a rethink on your organizational chart.

Quick snippet:

“The days of general managers who know a little about a lot of things are completely over,” says Ms Gratton. As the developed world moves towards knowledge-based industries, she says, there is no longer a workforce that can be “managed by looking at it”. It is not enough simply to monitor how many hours workers spend at their station. Teams are now often comprised of peers focusing on a particular project who, aided by technology, now also monitor output and give each other feedback—two classic roles of the middle manager. Rather than general management, Ms Gratton argues that corporate types should develop mastery of one or two areas—"such as leading complex teams or understanding how virtual communities work"—and be prepared to bone up on new specializations quickly, as the needs of business change.

Read the entire article here.

Illustration credit (related to above) here.

Article of Interest: 5 Best Social CRM Programs

What is a social CRM program?  What are the best CRM programs?  Here's a look at five you should be using for your business and why. 

Read:

The Best Social CRM Programs | Inc.com

Illustration credit:  Radian6 

Event of Interest: 8th Annual WPO Chicago Summit 2011

If you are interested in attending, you must first become a WPO member. It's not too late. Please contact Laurel Delaney to discuss details.

Interview of Interest: How to Pitch and Win Over Investors

Author Donna Fenn interviews Amy Millman, president and co-founder of Springboard Enterprises, a not-for-profit “venture catalyst” with a mission to facilitate women entrepreneurs’ access to the equity markets.

When we ask investors what they look for in a company, they say ‘we invest in the jockey, not the horse.’ What they really mean is they are willing to bet on a CEO who they believe would make them money. Lots of money. So if you want them to invest in you, you need to appear to be a clone of that investor, have a serious track record of delivering big returns for investor, or be able and willing to proclaim your expertise.

Springboard educates, sources, coaches, showcases, and supports high growth women-led companies seeking equity capital for expansion.

Do you have a serious track record of delivering big returns at your business, or are you able and willing to proclaim your expertise?

Read the entire interview here.