News of Interest: Sarah Stopek Hirsch Is Award Winner!

We extend our heartfelt congratulations to WPO member Sarah Stopek Hirsch, president of Sublime Promotions, Inc., in Chicago for her 2007 Entrepreneurial Woman of the Year Rising Star award. She is pictured holding roses (presented to her by her WPO sisters) and surrounded by her extremely proud family. She received her award at the 2007 Women's Business Development Center Conference in Chicago.

Article of Interest: Women and the Labyrinth of Leadership

When you put all the pieces together, a new picture (the cartoon says it all) emerges for why women don’t make it into the C-suite (and, of course, why they start businesses). It’s not the glass ceiling, but the sum of many obstacles along the way.

Here's a quick clip:

In 1986 the Wall Street Journal’s Carol Hymowitz and Timothy Schellhardt gave the world an answer: “Even those few women who rose steadily through the ranks eventually crashed into an invisible barrier. The executive suite seemed within their grasp, but they just couldn’t break through the glass ceiling.” The metaphor, driven home by the article’s accompanying illustration, resonated; it captured the frustration of a goal within sight but somehow unattainable. To be sure, there was a time when the barriers were absolute. Even within the career spans of 1980s-era executives, access to top posts had been explicitly denied. Consider comments made by President Richard Nixon, recorded on White House audiotapes and made public through the Freedom of Information Act. When explaining why he would not appoint a woman to the U.S. Supreme Court, Nixon said, “I don’t think a woman should be in any government job whatsoever…mainly because they are erratic. And emotional. Men are erratic and emotional, too, but the point is a woman is more likely to be.” In a culture where such opinions were widely held, women had virtually no chance of attaining influential leadership roles.

Times have changed, however, and the glass ceiling metaphor is now more wrong than right.

Read more here at the Harvard Business Review article, Women and the Labyrinth of Leadership, authored by Alice H. Eagly and Linda L. Carli.

Let us know what you think.

Survey of Interest: Digital Marketing -- From Web Sites To Wikis

A global survey shows that marketers already regard digital tools as very important for advertising and for managing sales and service—but frequently don’t use them. Why? Although respondents to this McKinsey study are applying both established and Web 2.0 technologies to reach customers at every stage of decision making, they complain about a shortage of skilled people to run online vehicles and about a lack of metrics to assess them. Learn “How companies are marketing online” and how they expect to be doing so in 2010. Highly recommend. It requires a quick (free) registration but it's worth it.

And if you would like a simpler version to McKinsey's analysis, try this one on for size. It's a story, "Who Moved My Client Base?," about how a business owner who is faced with a slowing small business uses social media to turn things around and grow his business by tapping into a global client base. See if it strikes a chord with you. Feel free to comment and forward the story to whoever you think might benefit.

Event of Interest: WBDC Conference in Chicago 9/26-27

Picture perfect photo opportunity (L-R): Kate Koziol (President, K Squared Marketing and Public Relations), Caitlin Jenkins (national Director of Communications for WPO) and Kali Evans-Raoul (President, The Image Studios) -- all having a grand time at our booth during the conference.

Event of Interest: WBDC Conference in Chicago 9/26-27

Come visit us at our WPO Booth No. 636 during the Women's Business Development Conference in Chicago September 26-27 at Navy Pier. Our national Director of Communications, Caitlin Jenkins, will be on hand to meet and greet folks and several WPO Chicago members plan to attend.

During the conference, a WPO Chicago member will be honored with the Rising Star Award; another is giving a keynote and still another serves as a panelist during the "Go Global" workshop! So it's not just about Martha!

Hope to see you there! More information can be found here.

Article of Interest: Girl Power

It's never too early to start educating young women about the merits to entrepreneurship. In this Entrepreneur magazine article, "Girl Power," WPO is recognized for putting on a nationwide event that brought together women entrepreneurs and elementary-age girls in 11 cities from Phoenix to Toronto, all to play the game Cashflow for Kids. WPO members served as facilitators, and mentors, helping the girls learn lessons in financial literacy.

How are you helping young women learn what it takes to start a business?

Article of Interest: Scholars Link Success of Firms To Lives of CEOs

As president of your organization, what happens if you lose your spouse or partner? Or your father-in-law passes away? Do you think either of these events will impact your performance in a negative way?

That is the thorny privacy question put to test in a recent study based on CEOs of publicly-traded companies and the findings are intriguing.

Such things don't normally figure in investment decisions. But maybe they should, according to a recent study by three finance professors. Mining a trove of Danish government data on thousands of businesses, they were able to track links between CEO-family deaths and the companies' profitability over a decade.

It slid by about one-fifth, on average, in the two years after the death of a CEO's child, and by about 15% after the death of a spouse.

Read more here for the very controversial results. Do you think employees should know as much as they can about your life before they sign on? Where do we draw the line?

News of Interest: WPO Chicago Growth Survey 2007

Women Presidents' Organization Chicago Survey Predicts Business Growth in 2007 for 86% of Members: Group Leadership Guides $400 Million in Regional and Global Business

Chicago-area women presidents of multimillion-dollar businesses predict growth in 2007. A recent survey of the Women Presidents' Organization Chicago revealed that 86% of members predict growth in 2007. While overall growth predictions averaged up to 70% for some companies, the majority of growth was predicted to be in the 1-20% range.

Read press release here; catch the Small Business Trends blog entry under Women Business Owners Part of Social Entrepreneurship Trend; and, read WPO headquarter offices' blog entry here.

Sound Advice: Assertive Performance Feedback

I suspect that nearly all of you who run a business have had at one time or another -- employee issues. Specifically ones that run the line of expecting your employees to do things the way you would and then it doesn't happen. Right? You finally ask yourself, "What am I doing wrong that my employees just aren't motivated to get things done?" Good question.

This article might help. It offers a clear and concrete "tool" for effective performance feedback.

And if you like what you learned, sign up here for more tips from the Graziadio Business Report published by Pepperdine University, Graziadio School of Business and Management.

Book of Interest: The Future of Management

In "The Future of Management," a book due to be published this autumn by Gary Hamel, our keynote speaker at our WPO Chicago 2006 Conference, he argues that Google's innovations go beyond the fine points of search-engine algorithms -- extending into big, enduring aspects of general management. He believes that Google is committed to building a company that can evolve as fast as the Web.

What do you think?

In the meantime, check out a couple of highlights from the book description on Amazon:

Hamel explains how to turn your company into a serial management innovator, revealing:

• The make-or-break challenges that will determine competitive success in an age of relentless, head-snapping change.
• The toxic effects of traditional management beliefs.
• The unconventional management practices generating breakthrough results in “modern management pioneers.”
• The radical principles that will need to become part of every company’s “management DNA.”
• The steps your company can take now to build your “management advantage.”

Looks like we have to wait until September 10 to find out what else Gary has to say on the hot topic of serial management innovator.

And just in ... (8/24/07) ... a hat tip to Danielle Scott (see her comment below), Associate Editor, Graziadio Business Report, Graziadio School of Business and Management for letting us know that leadership guru Bob Fulmer posted a review of the Future of Management in the Graziadio Business Report's fall issue. You can find it here.

News of Interest: WPO Chicago Summit (8/9)

Our 4th Annual WPO Chicago Summit was a HUGE success. Congratulations to Dr. Marsha Firestone (our founder), Cindy Solomon (our guest speaker), all WPO Chicago members and special guests for making our event so magnificent.

We look forward to our 5th Annual WPO Chicago Summit in 2008 celebrating 11 years of learning and growing together.

Read our current news here.

Event of Interest: WPO Chicago Summit 8/9

Please join us for our "4th Annual WPO Chicago Summit and No-Host Dinner" on Thursday, August 9 from 11:00 a.m - 9:00 p.m. at the IBM Innovation Center. The purpose of the Summit is to learn, grow and celebrate (10-year anniversary) together!

Our special guest speaker will be Cindy Solomon (pictured) who rocked our world with so many insights at our recent WPO 10th Anniversary Conference in Scottsdale, AZ, that we decided to have her speak again at our private event which brings together WPO members from all three Chicago chapters.

To attend, you must be a WPO Chicago member in good standing. For further information or to register, please contact Laurel Delaney at 773-381-1700 or email her at ldelaney@globetrade.com. You need a special password to access our WPO Chicago Wiki where registration takes place.

And for reporters who plan to attend, please contact either Kate or Tracey (right side panel) to confirm your place. We look forward to your visit!

News of Interest: SME Toolkit

IBM (a WPO corporate sponsor) and International Finance Corporation (IFC), the private sector arm of the World Bank, launch a small business toolkit to create jobs and fuel growth in the underserved and emerging markets.

The Women Presidents' Organization is a partner for the US version of toolkit. And I am honored through the work at my own business and relationship with WPO, to contribute global small business articles in the International Business Overview segment. Visit SME Toolkit area here and keep in mind all the resources are free.

Sound Advice: Funding a Small Business

What's the best way for a small company to fund expansion? Would you rather be indebted to a banker or a venture lender? Find out what people said here.

News of Interest: WPO at WBENC Conference

A cross-posting off our WPO national headquarter office blog. I had to ... I just love the photo. Read more here.

Pictured (left to right): Sara Goldwitz (Facilitator Support), Dr. Marsha Firestone (President and Founder), Camille Burns (Vice President of Operations) and Amy Blais, (Program Manager).

Article of Interest: Emotional Dynamism

Emotions play a vital role in how we make business decisions. Do you find that to be true? If so, then this article will show you how to leverage the power of emotions.

Emotional Dynamism: Playing the Music of Leadership
by Terri Egan, PhD, and Ann E. Feyerherm, PhD

Article of Interest: Who Are the Greatest Entrepreneurs of All Time?

We could spend a lifetime compiling a list without ever agreeing on who deserves a mention. From the pirates of Silicon Valley to the captains of industry, there are far too many figures to choose from to give anyone the final say.

BusinessWeek picked the brains of professors, authors, and its own staffers. Their criteria for entrepreneurs to be considered among the greatest was simple. If they had the vision to create new markets or tap into underserved markets, changing the way people lived in the process, then they were candidates on a list they whittled down to 30 players.

Find out who's a player here. Hint: Four (4) women made the list and one (pictured) is based in our sweet home town Chicago.

Sound Advice: Growing Fast and Smart

Much of the literature on entrepreneurship focuses on how to find and evaluate opportunities. But for many entrepreneurs and managers, seeing the opportunity is the easy part. The real challenge lies in seizing it.

Video: The benefits of standardizing everything.

News of Interest: Intuit Future of Small Business Report

Tomorrow's successful small business owners will be far more reliant on technology than their current counterparts. They'll be more connected in a mobile world, market to customers in ways only imagined today and blur the lines between the virtual and physical worlds as the hype surrounding today's technology becomes tomorrow's reality.

That's the vision of small business in the year 2017 as described in the second installment of the groundbreaking Intuit Future of Small Business Report™, a unique three-part study that looks ahead 10 years and examines the prospects, influences and profiles of small business.

The latest installment, sponsored by Intuit Inc. and authored by the Institute for the Future, (very fascinating I might add) was just released. It focuses on how technology will propel and transform the small business sector. The first installment, released in January, explored the changing face of entrepreneurship, the rise of personal businesses and the emergence of entrepreneurship education. The third installment, to be released later this year, will examine how small businesses will affect society and the economy through 2017.

Read more here and download the incredible study here.

News of Interest: Two WPO Chicago Members Win BIG Awards

Two WPO Chicago members are award winners:

1. INNOVATE Illinois 2007, third annual small business challenge, to recognize and assist some of the most innovative small companies that are contributing to our expanding economy. Thirteen winners were selected from approximately 100 companies who originally submitted applications and business plans from the Northern, Chicagoland, Central and Southern regions of the state. Finalists will now participate in an [intensive six-month program where they will have access to a variety of essential resources and expertise, including a $10,000 grant, to continue to grow their businesses. INNOVATE Illinois is funded by Gov. Blagojevich’s Opportunity Returns economic development program. And one of our Chicago downtown I chapter members is among the winners!

2. Women-owned businesses represent the fastest growing segment of the U.S. economy, yet many of them are under-funded and not performing to their full potential. It is not for a lack of vision, stamina or hard work on the part of their owners, who often do not have the support they need to get to the next level. The ATHENAPowerLink program is here to help. The ATHENAPowerLink is a mentoring program that connects a woman business owner with an advisory panel for a 12-month period. And one of our Chicago downtown II chapter members just won the ATHENAPowerLink award for 2007!

Congratulations to both Chicago members! We are very proud of you.

[Due to our member confidentiality policy, we do not mention specific names.]