Tuesday, March 30, 2004
RE: Aliza Sherman's sexism article, women's emotive language
In case you missed Aliza Sherman's sharp Entrepreneur column this month, it's worth a read. One of Aliza's sources in the article is quoted as stating:
"...lately, I've sensed that corporate female executives just might prefer to work with another woman from a consulting standpoint. I've never seen that before, and I consider this the greatest sign of progress yet."
Elsewhere in the news, appears Emotional IQ recruitment testing is facing a growing intellectual debate. A new article in the L.A. Times cites several case examples of highly driven, revenue-generating leaders (Martha Stewart, Bill Gates, Harvey Weinstein, Jack Welch) who lack emotional sensitivity and empathy. This is one standardized test that women tend to score higher on than men (statistically, not making any wild inferences). Before it goes completely out of style, take this fast, fun Emotional IQ test.
On that note of women and emotive language, in late April, Chinese archivists will unveil a rare collection of items featuring Nushu, a mysterious ancient language created by, and exclusively for, women.
Nushu (which means women's writing) was a sworn to secrecy language designed by ancient women when distance between villages prevented them from vocalizing sorrow in song. Although Nushu emerged in the 3rd Century, the oldest piece in the collection only dates back to 1900. Curious? View an example of Nushu script (based on sounds, not morphemes) on Masukomi's blog.
Monday, March 29, 2004
RE: Time Inc. launches Just You Women's Mag in WalMart
This just in....Time plans to launch Just You (a women's magazine) in September that will initially be sold only at Wal-Mart. Articles will explore relationships, recipes and home repair and the magazine will notably refrain from featuring celebrities and models on covers or on inside pages. Time suggests that they plan to underprice competitive women's mags. Time will also retain editorial control.
Unlike Forbes Magazine, I believe custom publications and "mini-magazines" aren't only for companies that have scale. Sure, you may not be able to partner with Time if you are a small biz owner. But if you have news and information that is relevant to your customer base, you might try your hand at your own. Custom publications can be used to establish an emotional connection with your customers. They can also have a long shelf-life and pass along value (thereby generating direct response and new sales leads).
Friday, March 26, 2004
RE: dearth of women VCs explains women-led business funding disadvantages?
Here's an interesting fact: female entrepreneurs historically receive as little as 4 to 9% of available venture funds. Media reports about the Kaufman Foundation's study, released today -- exactly 1 day after Gloria Steinem's birthday -- offer one explanation about why women-led businesses lack venture capital financing.
- Fewer than 10% of all senior venture capital executives are women.
- The dearth of women venture capitalists extends beyond the senior executive level (women who started in entry-level positions in the industry left at twice the rate of their male peers from 1995 to 2000).
- Of the firms financing women-led businesses, 70% had women venture capitalists as partners (in spite of the fact that female VC executives interviewed for the study insisted they are gender-blind when it comes to doing deals).
Media is suggesting that the sheer lack of female VC representation means women aren't participating in most investment decisions. Furthermore, many male VCs (not all) "back by comfort zone," investing in their personal networks (predominantly other men) and in those they know. Networking is a critical factor for getting your foot in the door with VCs. After all, venture capital is fundamentally about relationship building and many women are outside the VC network.
Denise Brosseau, president and cofounder of the Forum for Women Entrepreneurs in San Francisco, was once quoted as stating, "Venture capitalists fund people who they know, who they know of, or who are like them. They don't know how women are going to act. We might cry, God forbid."
Prior to the Kaufman study, the SBA conducted an investigation of women-led firms and venture capital investment in 2001. The study predicted an increase for women-led venture funding, but cautioned that without due diligence on the behalf of women entrepreneurs, they could be left behind in the wealth-creation process. 
My friend, Mark, whose business is capital restructuring, has offered me amazing insight into the network players and the rationale behind the financing and growth process. I've learned that some investment VCs believe that women business owners deliberately keep their companies small, choose low ROI businesses, or don't know how to grow their business. Although the reality may be a woman-business owner doesn't know how to connect with venture capitalists or that they prefer to avoid taking partners in their growth process...the fact is, perception IS reality. And women are the only ones who can actively change that perception. The onus is on us, not them.
So what's a good woman to do? For starters, expand your network to include VCs. I don't mean to oversimplify things, but here are some baby steps. Read the links on my nav bar under VC resources. Spend extra time reviewing Springboard Enterprises' learning resources. If you are in Chicago, call Michael Fields, Small Business Development Director at the Chicago Entrepreneurial Center. Tell him Kirsten told you to call. And check out some of the VC blogs to gain greater insight into their network and thought processes.
A short list: A VC, Northwest VC, SAP Ventures, Venture Blog, Beyond VC, Due Diligence, Barry Moltz. As of this blog writing, none of them had yet commented on this new VC study. Am eager to hear their perspectives...
Additional Resources:
Inc. Magazine's "A Network Of Her Own."
Funds That Target Women Entrepreneurs, Some Exclusively
Thursday, March 25, 2004
RE: Women's Business Enterprise National Council Names Elite Eleven List
Yesterday the Women's Business Enterprise National Council (WBENC) announced its annual listing of America's Top Corporations for Women's Business Enterprises. The companies on the list have instituted programs to offer equal access for women-owned suppliers and developed supplier diversity programs featuring women's business enterprises.
The 11 companies that made the list?
AT&T
Bank of America
Cendant Car Rental Group
ChevronTexaco
IBM Corporation
Office Depot, Inc.
PepsiCo, Inc.
SBC Communications
Shell Oil Company
TXU
UPS
Wednesday, March 24, 2004
RE: flirty and dirty business, affirmative action, & City Hall
"Nearly every time you turn over a rock at City Hall, you come across another contract with a questionable minority or women's business component."
Mark Brown, Chicago Sun Times, 3.24.04
Oh Sweetie! Sir Brown goes on to cite Chicago's Hired Truck program (recently exposed as being a collection of companies owned and operated by wives, moms, and daughters of Chicago political honchos). Eerie real life example of "In Praise of Nepotism!" And the Duff family federal indictment for posturing "phony" women and minority businesses to secure coveted Chicago city contracts.
Chicago is known for alleged impropriety in the awarding of government contracts. Mayor Daley has been saying "it's a flawed system that needs fixing" since 2000. Judge James Moran has stayed his order on the constitutionality of Chicago's affirmative action programs until early summer. Debate is already heating back up!
What irks me most: many hard working women-led businesses go without. And if you are a woman without 1 of the Fabulous 4 (a high-rolling boyfriend, well-heeled husband, influential male champion, or prestigious parent) you really must work ingeniously and aggressively and self-promote to make a few bucks. Appears controlling fraud and abuse really IS elusive.
The city of Chicago's affirmative action programs only reserve 25% of the work on city contracts for minority-owned companies, 5% for companies owned by women. (source: PBS) Now I'm no expert on politics or government...but these small percentages surely are a meager means of helping boost women entrepreneurs. It seems but a paltry trade, in light of the fact that women-led businesses are statistically less likely to receive substantive venture capital than male-led firms. Everyone should be afforded equal opportunity. Mark Brown's examples are EXACTLY THE REASON WHY WE NEED THESE types of programs for women and minority businesses. Nepotism has long been a weapon wielded by men to help other men get a foot up. This is less about preferences than it is about preservation. 
There is entirely too much good ol' boy network hand holdin' and appendage jousting going on in Chicago. Surprisingly more than in Texas. I myself have experienced subtle discrimination and trivialization in Chicago being a blonde with a Southern accent outsider. Not just from men, but from women. For instance, at tonite's incredible Chicago Tribune WomanNews "Navigating the Middle Decades" event I got toasted by a couple of attendees for wearing pointy high heel shoes (I'm a shrinkydink, I wear them to establish some semblance of stature).
YES there is abuse and YES we need more stringent measures to credibly verify minority or woman business ownership. It is a sad fact that people will resort to misrepresentation at the helm of their organizations to get funds when there are scrappy women working themselves to the bone to build their business. But to cancel the program altogether because some Chicago bad apple men have been behaving badly?
To me that is simply abhorrent. Thunk on the head to Mark Brown for not even beginning to explore the upside.
P.S. The Tribune WomanNews event, toast aside, was charming. A big thanks to Cassandra West, Raoul Mowatt, Amy Dickinson, Sharon Durling, and Shari Goldman for an enlightening evening. They serve as inspiration for women (working both in and out of the home) with actionable ideas for longevity of life, financial security, and personal development. I highly endorse future WomanNews events for women of Chicago.
P.P.S. If you are a woman without 1 of the Fabulous 4, don't lose hope. Call me and together we can brainstorm some ways to work around it.
P.P.P.S. Just for the record, I'm all for appreciatin' -n- lovin' the good men.
Tuesday, March 23, 2004
RE:Bloggercon on April 17th - Harvard - a bounty of business women blogs
The 2nd Annual Bloggercon will be held on Harvard's campus on April 17th. The cost to attend is $0. The conference format is unusual (if you are a newbie rules can be read here). To my surprise, they are planning a special Women and Blogs panel. Velveteen Rabbi is planning on attending. So is Shannon Okey. Noticed Heath Row and Seth Godin are both blogrolled for the conference. So I registered. Gulp (i am still a little gal in the blogosphere). But I stepped up to the plate cuz I'm hungry to learn more and spread the news with re:invention's clients.
Read the up-to-date registration list for yourself.
In a recent article, Edward Driscoll (by way of referencing Scrappleface Blogger Scott Ott) quantifies the blogosphere in layperson's terms for us: there are more bloggers writing today than people reading USA Today (circulation 2.6M) or the combined circulation of The New York Times (1.6M) and The New York Daily News (805K). Even CNN's typical daily viewership is only about 450,000 viewers. He further suggests that today's blogs can be grouped into 2 broad categories: "those that link to, and very often editorialize about, the news of the day; and (those that are)...more intimate, political -- and therefore more personal -- day-in-the-life diaries."
Media, when reporting on women bloggers, has focused on women-handtyped blogs in the latter category. And when Media has explored the former category, as with the The New York Daily News article "I Am Woman, Hear Me Blog," they herald women bloggers who address politics, social and cultural influences, lifestyle issues, and literature.
But what about all the women business bloggers sharing their words of wisdom? There are many business-savvy women out there blogging their buoyant-spirited butts off. Brand Mantra, Wonderbranding for Women, Lip-Sticking, Small Business Trends, Debbie's Blog, Sales Process Diva, Creative Chaos Blog, Metajiva Scientific, Design Geekery and Business Culture, Navigating the Info Jungle, Decent Marketing , Church of the Customer, What's Next Blog and Monster Blog to name just a few....
Because women appreciate names and a personal approach, these business blogs are painstakingly written by geniuses Jennifer Rice, Michele Miller, Yvonne DiVita, Anita Campbell, Debbie Weil, Lori Richardson, Dina Mehta, Alie DeGon, Angela McKaig, Susan Mernit, Katherine Stone, Jackie Huba, BL Ochman, and Rebecca Wells. Each and every one worth daily reading.
Will any of you business blogger babes be registering for Bloggercon so that we are represented? Susan Mernit, BL Ochman, Debbie Weil, and Rebecca Wells are already enlisted. Hop to it! And if you have a smart woman business blog you'd like to share, egg me with an email or post a comment.
p.s. i am likely going to be at home in bed tomorrow with a sorry cold. And since women may be reading this today -- for a good laugh i deserve the cold. i managed to squeeze in a pedicure after a late nite biz meeting and ran home barefoot so my toes would dry. not quite warm enough yet to do that in chicago. bummer.
Monday, March 22, 2004
RE:Teen Girls on Business, Ethics, Entrepreneurship, & How to Save the World
"(A business person is...) a person working in a cubicle area, and he's in a seatbelt. Because I think when you do work for...companies, you're restricted. Restricted from being more creative and using your own mind...it just seems that you have to do everything really uniform."
- Middle School Girl
"(A business person...) probably did something bad in order to get money."
- High School Girl
Today C200 (an organization of women leaders that promote business and entrepreneurship) re-announced the findings of their Teen Girls On Business survey. The announcement kicks off C200's 2-day National Undergraduate Outreach Program "Women At The Top: Leading Business, Leading Change" this Friday and Saturday, March 26 & 27. The C200 survey was conducted with 5,000 middle and high school students in public and private schools across the United States.
Some key findings:
- Teen girls rank business low as a career choice. Only 9% listed business as a future career choice (significantly fewer than teen boys). Both teen girls and boys, however, held surprisingly negative views about business as a chosen career path.
- Teen girls referred to business as constraining, boring, stressful, aggressive, competitive, hard, complicated, risky, and cut-throat. They also viewed business as a male domain.
- White/Caucasian girls reported less interest in business careers than did girls of other racial or ethnic backgrounds.
- Asian American girls were most likely to be interested in a career in business, Hispanic girls the least interested. However, when those girls interested in business were asked specifically about starting their own business, Hispanic and African American girls were the most interested.
- Girls who list business as their first career choice tend to be from higher-income areas, and to have parents (especially fathers) in business.
- Less than 1/4 of teen girls AND teen boys believed that business as a career was "honest and ethical."
The study further explored teachers viewpoints on careers. Many midde school and high school teachers used words as "unethical" and "sleazy" to describe business people.
The C200 press release reminder is fresh on the heels of yesterday's New York Times article about the lack of commitment to teaching business ethics in schools. This study offers perilous predictions of the future of entrepreneurialism (and it tain't pretty). It predicts the potential for women's rise to corner offices (and it don't look so good). March is Ethics Awareness Month (bet ya didn't know that). And economic policy can't be used to balance a business ethics deficit.
The question is...has the state of the nation changed since the C200 study was originally announced and if not what can we do about it? The new C200 Imperative is to reach women undergraduates and encourage pursuit of advanced degrees and eventual business leadership. C200 research has also shown that fewer women are enrolling in Top 20 MBA graduate programs. The MBA benchmark slipped 5% to 6.45, after increasing 3% the year before.
Should our goal be program outreach at the college level?
I think Harvard B School Professor Lynn Paine had it right. These issues demand earlier intervention. Companies can't consider themselves amoral or apart from society anymore and we should be dedicated to value education beginning with our children, schools, teachers and parents. I don't believe it is too early to begin teaching ethics in grade school, especially when the average child today witnesses 26 violent crimes per hour simply watching Saturday morning television. Only 14 states currently mandate character education. A big round of applause for non-profit organizations like the D.C.-based Character Education Partnership or the L.A.-based Character Counts organization that champions character education predicated on the 6 Pillars of Character (trustworthiness, respect, responsibility, fairnesss, caring, and citizenship). We simply need more small businesses and Chamber of Commerces signing up to serve as Character Counts Coalition Members and role models. Why haven't you signed up yet?
Read the entire C200 study here.
Welcome thoughts and ideas. Never know, with your thoughts and comments we just might be able to come up with a viable institutionalized solution. Big thanks to reader Ann for her tips to get us started!
RE: Today's Chicago Woman Foundation Event
Have you bought your tickets for Friday's TCW Singles Benefit (possibly the hottest benefit of the year)? Meet TCW's Singles Who Rock (featured in their February issue and on tcwmag.com), enjoy a lavish buffet, take advantage of an open bar and bid on incredible date packages.
The BEST reason to go: you will be helping to raise money for thousands of women and children in crisis situations in the Chicago area. Get your tickets through the TCW Foundation now--BEFORE THEY SELL OUT! After that, you can buy tickets for $60 at the door.
Buy your tickets here.
Friday, March 19, 2004
RE:Time Magazine + Why Women Have to Work + The Case for Staying Home
The feature article in the March 22nd edition of Time Magazine: "The Case for Staying Home."
Holy Momism, Batgirl! I'll provide a link to the entire Time article here but you need a subscription. Gosh darn that kid on the cover is cute. Goads ya into feeling guilty, doesn't it?
The article contains a free-access-for-all interesting sidebar, titled Why Women HAVE to Work. "Many working moms work out of necessity, not personal fulfillment," says Amelia Warren Tyagi, co-author of The Two-Income Trap: Why Middle-Class Mothers & Fathers Are Going Broke. I'm a realist and I concur with Tyagi's economic analysis, yet I know many of my 11 clients (quite a few with young children) work not just for money but out of sheer passion for what they do.
Do you agree? They are polling women about Staying Home To Parent preferences on Time's site. Do you choose to stay home, choose to work, or work out of financial duress? As of this BLOG writing, "choosing to stay home" looks to be the winner.
For your consideration, here's another thought-provoking review of the Mommy Myth, compliments of Apt 11D Blog. Worth a read.
Thursday, March 18, 2004
RE:if it EVER gets warm in Chicago, I'm taking up GOLF.
Something new for women business leaders. A School of Golf Run By Gals For Gals. Apparently, there is a "growing trend for women to use golf as a business tool to cut deals out on the greens or to entertain clients." Women are sojourning from the Midwest to the Singing Hills Golf Resort in El Cajon, CA for exclusive "gals only" lessons. Drive for show, putt for dough. Seems there was some golf school discrimination going on as recently as the 1980s. In yesterday's San Diego Tribune article, player Jan Landberg claims she was told "heck no, you can't go" when she tried to enroll in several golf schools in her Washington state hometown. Who knew? For inspiration, I am buying myself a copy of Golf for Women Magazine and reading up on the basics. Me and 1.9 million other readers. And I will be quietly practicing my chip shot in a glass throughout my office during drawn-out conference calls. Listen hard and you will hear the "clink." 
Turns out women might just be choosing to revert to a more traditional take on social networking (golf). Maybe indeed as Dina Mehta says, "online social networking is broken and just noise."
And if you are a woman entrepreneur who hasn't had a vacation lately, you should plan one soon. Research has shown that women who take vacations have a lower risk of heart attacks and early death, regardless of whether they work inside or outside the home.
Sunday, March 14, 2004
RE:Monday Media Madness (The Stars Shine Bright in Texas)
According to a recent report served up by the Center for Business Research, the fastest-growing metro areas for women-owned businesses are:
1) Salt Lake City-Ogden
2) Las Vegas
3) Phoenix-Mesa
4-5) St. Louis....Kansas City (tied)
6-7) Portland Ore....Vancouver, Wash. (tied)
8) Nashville, Tenn.
9+) Austin-San Marco, Texas....Dallas-Fort Worth-Arlington....Houston....San Antonio (all tied)
Seems if you live on the East coast, it's all over for you. Hogwash! We shouldn't view these lists as prescriptive. Master your own momentum.
What is intriguing to me is how the list has changed since their report release in March 1997. Back then here is how the list looked:
1) Portland, OR-Vancouver, WA;
2) Seattle-Bellevue-Everett, WA;
3) Phoenix-Mesa, AZ;
4) Houston, TX;
5) Nashville, TN;
6) Miami, FL;
7) Sacramento, CA;
8) Dallas, TX;
9) Orlando, FL;
10) San Diego, CA.
While Florida and California have dropped from the list, Texas remains a hot bed of entrepreneurial growth. What is it about those Texan women that gives them the confidence and the courage to strike out on their own? Texan women entrepreneurs are rallying for the Texas Womens Ventures Fund with a goal of raising $7M to support equal financing opportunities for women-owned businesses. Grand Prairie, Texas' PharmaFab CEO, Darlene Ryan will be honored as one of the The Leading Women Entrepreneurs of the World this May. The big Texas cities rank in the top 10 on Richard Florida's creative index. And Texas ranks 2nd in the number of women-owned firms.
Surprisingly, Inc. Magazine only had 1 city from Texas (Austin) on their Best Cities for Business list. Guess they didn't break down demographic implications or evaluate these women-led business growth trends.
Other Stories of Note:
* The Kauffman Foundation has launched a study to evaluate the effectiveness of Women's Business Development Centers nationwide. Findings are due in September.
* On Monday and Tuesday NYC hosts the 2004 Women's Leadership Conference. Anne M. Mulcahy (Xerox CEO), Ilene Lang (President of Catalyst), and Wanda Wallace are among the conference's noted speakers. Although they aren't webcasting the event from the Waldorf-Astoria, as usual I will have notes from my spies for you here on re:invention's blog later this week.
Friday, March 12, 2004
RE:Dr. Rosabeth Moss Kanter chimed in yesterday
In light of yesterday's late nite post, I find Dr. Rosabeth Moss Kanter's article in yesterday's Miami Herald very appropo. The headline? Women Who Veer Too Far From Soft Images Get Harsh Treatment. Rosabeth cites Martha, Carly Fiorina, and her Tale of O Harvard Study. "Women are more easily accused of the social 'crime' of over-reaching." she warns.
"..it (Martha bashing) signals vestiges of lingering ambivalence about women's achievements. When people say that Stewart is getting what she deserves, they are talking about more than stock-trading sins." Problems are similar, she goes on to say, for anyone who dares to be different. 
For those of you unaware of Rosabeth Moss Kanter (big thump on the head if you don't know the woman who has shaped much of the academic and social dialogue about relationships between women and men in business) here is a capsule. Harvard B School Professor; born in 1943; the author of Tale Of O, Men and Women of the Corporation, and Giants Learn to Dance; recipient of 19 honorary doctoral degrees and over a dozen leadership awards; named at different points of her career to lists like "the 100 most important women in America" and the "the 50 most powerful women in the world."
She also offers a nifty and facetious list of the top 10 rules for stifling change. If you disagree with this wise lady's perspective, she notes her email address on Harvard's website.
Rosabeth's next book, Confidence, is due out in September (it's been several years since her last book). Look for it, as it will surely be a great read. On a highly personal note, and I mean this with all seriousness: I would give anything to meet her.
Thursday, March 11, 2004
RE:amusing fact about comments on re:invention's blog
i get alot of positive comments from men and women alike about my blog entries (thank you, each positive comment is appreciated). I get alot of negative comments too (hate mail volume that surprises me, I have alot of reading to do at night). That's all right. I can take it -- bring it on, I say!
But the amusing fact? Every negative comment and every hate e-mail has been from a man. And let me tell you, for a blogosphere supposedly comprised of professionals, I am amazed with some men's audacity. I'm been told I'm too young, too simple-minded (yea folks, I have my MBA from Duke and am considering a PhD at Northwestern as of this BLOG), stupid, disappointing, out and out wrong, and a budding fem- nazi (i can only surmise because i market to women-led businesses). Did that man not read the inimitable heath row's quote top left of this page???? I just point to my track record of success...and laugh. Big razzberry for all of you naysayers. In the very sweetest, southern way possible: "blog off!"
editor's post script note: SAP Venture's blog features an even more thoughtful approach on how to deal with bloggers. Thanks again to @rgumente for indirectly linking me to the list of suggestions.
ALSO: Small Business Trends Blog has a great post today about President Bush's speech to women business owners at the Women's Entrepreneurship in the 21st Century conference recently held in Cleveland.
RE:gift cards + small business = nuevo marriage match made in heaven
Happened across an article in yesterday's Chicago Tribune about gift cards. Gift card sales hit a record high this past X-Mas season. The article touts gift cards as a hot new fundraising tool for school and nonprofits (akin to scrip). FYI -- a good definition of scrip here. I helped launch Whole Foods Market's gift card program (we chose the innovative ValueLink as our program partner). A year later, Whole Foods Market has added Scrip Cards and that program is growing, especially in the Midwest.
According to Valuelink research, employed college educated women are more likely than men to purchase gift cards. That made sense for a company like Whole Foods Market. And women are more likely to give gift cards as a primary gift than men.
The article got me thinking, haven't I seen a good article about small businesses using gift cards? Smart small to medium-sized business owners surely already understand the basics of how gift cards can reduce costs, increase gift sales and enhance corporate identity. But they may not know where to start. One quick google search and I discovered a respectable reference source for small biz featured in Entrepreneur Magazine last June.
The article also prompted intriguing discussion with John Moore at Brand Autopsy today. We exchanged an email or two about gift cards and the idea of using charitable organizations as your company’s sales force. While big businesses may fret about losing “control” over how a charitable organization talks about their company, I believe a small company (inevitably maintaining stronger local ties with neighborhood charities) may be well-suited for this type of grassroots marketing. After all, small companies are accustomed to scrip of a different nature; bartering business with other small shops. Bartered merchandise or services can often be sold or converted to cash at a fee well above the cost of acquiring them.
If you are considering your own private label gift card program but don't know where to start, Wachovia has a program designed exclusively for small businesses that doesn't require you to purchase in large quantities. Lasalle Bank and Valutec also cater to small business owners. Of course there are also numerous other providers who would eagerly welcome your business.
And if you want some special tips about how to launch your own private label gift card from an insider who has "been there, done that..." all ya gotta do is drop me an email.
Tuesday, March 09, 2004
RE:Picketing at the Natural Products Expo? The chants were deafening!
Intriguing story from my good friend, Andrew Whitman, founder of 2XManagement (an investment company focused on high potential consumer products).
More companies than ever before made a beeline to this past weekend's Natural Products Expo, including industry heavyweights Hain, Celestial, Eden Foods, even Kellogg's and Nestle. In a shock to Expo attendees, there were active picketers outside the show. What was the picket line chanting? A serious, hard-hitting message: "Down with Forks!" Very appropriate humor, considering the target audience (natural and organic food manufacturers) included many libertarians, anti-union people, and former peace not war demonstrators during the 60s. All good creative thinking from Forkless Gourmet (a new product company led by a team that includes former Boca Burger execs). Forkless Gourmet offers authentic ethnic meals in a bun. They call themselves Bun Meal Pioneers.
Innovative small business thinking... From the product concept to the website to the trade show spoofing!
Want to make a similar splash at TradeShows? I'm a big fan of Trade Show Blues. Their site is chock-full of news, tips, and assorted resources. And yes, they have their own BLOG. Perhaps they could use that BLOG to showcase learnings from the trade show floor for trade show novices?
Sunday, March 07, 2004
RE:100 Baggers, VCs, Entrepreneurs, & Orchestrating Serendipity
@rgumente BLOG links to a March 4th PBS Online article from Robert Cringely titled "The Curse of the Hundred Bagger: Why Venture Capitalists are Paralyzed." Yes. THAT Robert Cringely. 
The once and famous InfoWorld columnist, the host of the PBS Special "Triumph of the Nerds: The Rise of Accidental Empires in Silicon Valley," the man once quoted as stating, "If the automobile had followed the same development cycle as the computer, a Rolls-Royce would today cost $100, get a million miles per gallon, and explode once a year, killing everyone inside." Very provocative (both the quote AND the photo).
Cringely's new article is a MUST read for entrepreneurs (women or men). The headline: most VCs neglect the one strategy they should use the most; serendipity.
Key Points in the Article:
1. "In times of uncertainty [...] don't be Mark Twain ("Put all your eggs in one basket, and watch that basket!" -- it didn't work for him anyway). Instead, bet on serendipity -- don't invest in ONE big idea -- invest in 10 ideas that are your best guesses as to the widest range of possibly big ideas. You don't know but what the heck, NOBODY knows. This gives you ten chances to win, instead of one."
2. "The goal is no longer to make a certain return, but to find a hundred bagger -- something that is just about impossible to do. You can stumble on a hundred bagger, you can luck into it."
3. "The problem with finding that hundred bagger is that whatever...you are investing in isn't what you think it is. That's because every startup -- EVERY STARTUP -- faces a crisis early-on and changes dramatically what it intends to do. So the smart VC invests more in the people than in the idea because the idea is going to change. And that means what you think is a hundred bagger will inevitably turn into something else."
robert cringely has me thinking all kinds of lilting thoughts...and not just about VCs, rumored pseudonyms ala Mark Stevens, or the fact that his site openly invites people to email him and call him a "dipstick." Rather, about serendipity. Seems serendipity theory is now in vogue. Perhaps it started 2 years ago, with Fast Company's Targeted Serendipity article. But that article was purely about blogging and this is a movement much broader in scope. Serendipity theory is on the radar at U of Penn's Entrepreneurial Center, where they are apparently developing a "serendipity generator." Robert Johnson, head of BET, claims he got into the cable TV business through "total serendipity." Pleasant T. Rowland, founder of American Girl, has said, "I believe that luck and strength go together. You must have the strength to wait for luck and when you get lucky, you must have the strength to follow through." Mary Foley, the first corporate training manager of AOL, has written, "bodacious women notice moments of magic and serendipity." And Phil Lotane of Venture Advisors recently linked entrepreneurs and serendipity in a February USA Today article. Lotane suggests hard work and consistent effort often beget serendipity.
Yes, there is a blogosphere brawl going on about positioning theory. But those heated discussions seem to be about semantics. And that NYT "Secret of Our Sauce" weekend article about nurturing innovation? Well...serendipity theory is much more sexy-sexy food for thought and debate.
Beyond hard work and consistent effort, can entrepreneurs orchestrate serendipity? Enlighten me with your thoughts! Post a comment below.
Saturday, March 06, 2004
RE:Gatorade + my Feb 23 BLOG = CHI Shakespeare Theater
My Feb. 23rd post suggested Chicago businesses explore local theater opportunities for marketing and product placement. I even provided a short list of theaters! And now, seems we have a first mover. Gatorade + Chicago Shakespeare Theater. Who'd a thunk it? Alright, I'll concede that they MAY have come up with this on their own after reading the Broadway and Marketing article in Ad Age. I'll stifle my vanity for a moment.
Either way, it is a spark of creative genius that small businesses might reflect on over the weekend. For an emerging business, this type of product placement could be tastefully done; for instance, showcasing a beautiful chaise on stage if you are a furniture manufacturer or outfitting a play's cast if you are a fashion designer. Enough to get members of the audience buzzing.
March 06, 2004
Crain's Chicago Business
Wherefore art thou Gatorade?
Spring performances of "A Midsummer Night's Dream" at Chicago Shakespeare Theater will feature product placements, thanks to a deal between the theater and Chicago-based Quaker Oats Co., a unit of PepsiCo Inc. A theater spokeswoman said the deal, which turns Saturday afternoon matinees into "Quaker Family Saturdays," is worth "in the upper-mid five figures," according to a theater spokeswoman.
Details of the placement haven't been determined yet, she says, but the modernized version of the classic -- in which Puck the hip-hop fairy raps the story of four young lovers' journey through an enchanted forest -- offers opportunities for characters to munch on a breakfast bar or swig some Gatorade. "There are places where they're traipsing through the forest and out of breath and they need to sit down and have something to eat or drink," says the spokeswoman.
Thursday, March 04, 2004
RE:a parade of promotion p's and q's...if Q-Tips can do it, so can you!
a new entrant to the hall of fame in promotion execution:
Q-Tips (that bland little stick with a cotton tip invented in 1923 used to clean out ears and remove wayward eye makeup) is conducting a promotional contest. Today, Unilever's go-to brand announced a nation-wide search for aspiring beauty experts.
And this isn't their first promotion. Q-Tips stuck 1.8 million Sprint prepaid cards worth 10 minutes of free long distance inside boxes as part of an in-pack promo in 1998. It worked so well Unilever put 2.4 million more cards in packages in 1999. Clean out your ears and dial a friend. Makes sense. Q-Tips also launched their first website last year. They worked hard on that site, oh for about 90 years.
now i'm just a little gal, but i think this goes to show you that just about any product can craft a good promotion. the funny thing is, according to the National Federation of Independent Businesses, more than one-half of all small business owners have no prior marketing or sales experience.
So where do you start if you are an entrepreneur and you don't want to wade through all the arcane academic research and maintain a up-to-date library of books touting mantras of the "marketing masters?" If a small business owner actually had the TIME to survey all the available marketing books listed on Amazon, I estimate it would require nearly 20 years of in-depth reading with an average yawn factor of 120 great yawns per academic book. And I don't know about you, but I don't particularly enjoy spending what little spare time I have as a small business owner reading the counsel of someone who believes they know more than scrappy, small pups with real world street smarts. I can't fault those "marketing masters," however. David Callahan, author of The Cheating Culture, has written that "most human beings think about their well-being in terms relative to those who share their immediate community. " Those "marketing masters" probably hang out with other like-minded prophets who travel with a briefcase full of jargon, buzzwords, funky little graphs or charts, and other sordid stuff.
let's get down to the basics for all the rest of us. what constitutes a good promotion? well, since you are askin', no need to keep this on the Q-T.
here's a parade of promotion p's and q's:
1. know your objectives from the very beginning. common objectives include increased sales, exposure for new products or services, and relationship building.
2. learn and tap into the psychology of your customer target. perhaps the most important part of promotion and publicity is finding the right hook or angle to grab the attention, talk to the values, and play to the emotions of your customers.
3. evaluate whether the promotion fits your company and brand image. build upon your most attractive company and brand personality assets.
4. make sure the promotion is distinct, unique and memorable. the world is desperate for creativity and sometimes it takes a village with strong-arm, well-aimed rock tosses to break through the clutter.
5. in today's world, we have to do more with less. so for every $1 you spend on marketing promotion, it's a good rule of thumb that you should make more than $1. and if you are spending more to get a customer than they would eventually be paying you as a customer you are more likely than not in a losing proposition. remember, the only important returns on investment are: (*) spankin' brand new customers and (*) selling more stuff to your current customers.
6. explore tie-ins with other brands, properties, and companies to increase visibility, credibility, and media attention. never hurts to "borrow" brand attributes (the distinguishing qualities of a brand like unwavering trustworthiness, family values and heritage, premium-value) from another established or well-known player. just make sure you don't get lost in the shadows or dwarfed in the promotion.
7. be careful about timing. consider seasonality, sales impact, and relevancy.
8. remember integration -- with your website, media outreach, customer service rep scripts, in-store counter-tops, outbound marketing collateral.
for more inspiration, here's a link to Promo Week's Best Promoted Brands of 2002. I looked for their 2003 list, but I can't seem to find it online. Just another addition to our toolbox for women entrepreneurs. Welcome any additions to this parade of promotion p's and q's...invite you to add a comment!
Wednesday, March 03, 2004
RE:GRCLive web-conferencing narrows target niche to the small businesswoman
...this release is just too cool not to post for you. GrassRoots Communications, Inc., (GRCI), is retargeting their high-quality Web conferencing solution to address the needs of businesswomen worldwide. According to their press release, "Now, even the smallest women-led company has the capability to participate in instantaneous, face-to-face communications, by combining full video, voice, text, and collaboration."
I'm adding them to re:invention's handy resource list.
RE:Super Tuesday, wandering women, and what you can do about it
According to an article on Alternet, single women constitute a whopping 24 percent of the electorate and 42 percent of all registered women voters. We represent the same percentage of the electorate as African Americans, Hispanics, and people of the Jewish faith COMBINED. Yet over 50% of women aged 18 to 34 did not vote in the last election.
Traditionally politicians have not spoken to young single women about our issues. We worry about paying our bills and saving for retirement, good schools for our future children, and the cost of health coverage. Many of us hold more progressive views on abortion, gay rights, and gun control.
So why don't more single young women vote? My supposition: it's not that we want to leave the voting decisions to men, it is simply that many of us have had little interest in the spirit of a vote because we believe our vote will have negligible long term impact. The key to this year's presidential campaign could be convincing young single women that our vote will make remarkable difference.
I suggest women do more than stick our head under a rock. Since the new small business economy is being driven by women entrepreneurs, and women have the capacity to shape the electoral vote, this is a relevant call to action for re:invention to herald. Since yesterday was Super Tuesday, it is an inspirational time to start. This cartoon, although kinda funny, should not characterize the average woman's take on Super Tuesday:
If you live in Chicago and are looking to explore the political world or find out ways you can get involved, you might consider attending next week's Kerry fundraiser. For background, here are excerpts from Kerry's Super Tuesday speech.
On Thursday, March 11th John Kerry's Illinois volunteer team, Kerry Core, will be hosting a reception and fundraiser for Presidential candidate John Kerry. They are expecting 700+ supporters in attendance, including Kerry's son-in-law Chris Heinz. Live music, speakers, the works. This is your chance to meet people in the campaign, find out ways you can get involved, and have a little fun as well. Tickets are $75 ($50 for students). Email Michael Fields at Chicago Chamber of Commerce for more info. Tickets will go fast.
And if you aren't a Chicago resident, check with your local organizations to see if like-minded events are in the works!
editor's post-script note: Great follow-up article on this single-women voting issue in today's Chicago Tribune.
Tuesday, March 02, 2004
RE:March is Women's History Month
March (the month that comes in roaring like a lion and goes out like a lamb) is Women's History Month. This year's theme is Women Inspiring Hope and Possibility. We all need a little bit of H&P nowadays. I've been invited to an event hosted by Chicago's Mayor Daley and the City of Chicago Advisory Council on Women on March 9th. Looking forward to posting headlines from that event here on re:invention's BLOG.
The National Women's History Project has a creative checklist of things you can do to promote Women's History Month in your community. You might also visit Enterprising Women's website.
The site honors 40 enterprising women who have cultivated the landscape of American business - from Ruth Handler, co-founder of Mattel, to Meg Whitman, CEO of EBay. They've created a story quilt of remarkable women throughout history. And in a remarkably unique call to action for women entrepreneurs, they are soliciting personal stories of inspiration (since the site is framed I can't link to this section -- click on "your stories" off of the site's main navigation bar). I encourage you to take 5 minutes of your time to contribute to their wall of mentorship. Your story of achievement and overcoming obstacles may be just the thing a woman needs in her darkest hour.
Happy Women's History Month!
RE: women, lust, legs, and war tribunals.
A few readers have asked me to elaborate on why re:invention and re:invention's BLOG are targeted exclusively to women. Why, they ask, would you narrow your target to only women when that limits the scope of your audience, potential profits and new business leads?
If you scroll thru re:invention BLOG archives, you will find in-depth statistics annotating the growth of women-led small businesses. But growth aside, there are 2 other curious business paradoxes that re:invention subscribes to : 1. the best strategy in war is to win without a fight (Sun Tsu) and 2. to broaden your appeal, narrow your focus (Harry Beckwith, author of Selling the Invisible).
The rationale for this line of thinking? It's all about positioning. By marketing to women-led businesses, re:invention stands for something. We make some sacrifices....but we own a level playing field. Our clients and BLOG readers receive real world experience from Big Boy Business Leaders (Coke, General Mills, P&G, and Whole Foods), while being heralded for their feminine instincts and empowered as achievement-oriented women entrepreneurs. They are looking for keen insider knowledge about failures, triumphs, and ideas for future success for day to day small business operations. This makes re:invention's business model and BLOG leading-edge, not bleeding-edge. We believe there are women who want to work with like-minded women. And we are committed in our mission of enabling their success and organic growth. Personally, I am so committed to this mission that I am sometimes forced to skip dinners or lunches due to first year budget crises. But I am willing to take that risk, in order to help just a few women achieve greatness. It is my passionate personal mission as well as my business mission. I am lustful that way.
The best small businesses don't try to be everything to everyone, and they don't wield a bow or a gun wildly without taking strategically calculated aim. Even Al Ries, author of Positioning: the Battle for Your Mind, suggests that "small businesses could get large alot faster if only they could focus on half of what they do."
If you need more food for thought about positioning and the upside of dead-arrow target market focus, we suggest you read this article, written by Dr. Michel Fortin. The article was written over 3 years ago, but the concepts are timeless. And for insights about passion and business? We suggest Sandbox Wisdom. Unwavering passion and concern for others' success will inevitably translate into something good.
p.s. about the headline, "women, lust, legs, and war tribunals." Ok. maybe the headline didn't exactly match the BLOG copy. but it drew ya in, didn't it?
p.p.s. if you really want a "leg shot" of founder kirsten osolind, we are considering a restricted access only photo library (kirsten in a short skirt, kirsten wearing glasses conducting a women's only meeting) among other pay-per-view features for our pending subscriber-based audience platform. email me if you are interested in a pre-registration discount. just another way to demonstrate how we are inclusive rather than exclusive and non-discriminatory towards men and women alike. ;)
Monday, March 01, 2004
RE:late night thought on the future of blogs
Much like cut flowers, blogs need an eye-catching vase container (sound design), fresh water every day or two (new content), daily snipping of spent blooms (pruning of comments, old links and content), and placement in a location where they can be admired (viral promotion and submission to search engines and directories). With special care, any blog can become a long-lasting bloom or an "uber-blog."
perhaps this will resonate more with women than men.
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