Friday, April 30, 2004
RE:Half-baked, half-time news for women's biz centers after some political jousting
A bill preserving operations of existing Women's Business Centers (WBCs) was unanimously approved by the Senate Thursday. The bill -- "The Women's Business Centers Sustainability Recovery Act of 2004," (S. 2267) -- was introduced by U.S. Senator Olympia J. Snowe (R-Maine), Chair of the Senate Committee on Small Business and Entrepreneurship.
What it does:
The bill establishes a temporary source of funding for 53 Women's Business Centers, which may be harmed this year due to insufficient funding.
How it does it and why it is sorta stupid:
The bill enables the SBA to reprogram currently-appropriated funds and tap into a pool of funding normally reserved for initial grants to newly-established WBCs. Is it just me, or does this seem like a superficial and somewhat short-sighted solution? Sorta like stealing money from the poor to pay the poor. Must be just me...no one has figured this out yet nor commented on it in media.
The bill is identical to the provision introduced by Kerry (D-Mass.) on March 9, 2004, which, as I mentioned in this early April re:invention blog entry, was blocked by the Republican majority in the Senate.
Ahh the world of politics! Promising albeit "half-baked, half-time" news for Women's Business Centers and women entrepreneurs. A bit of womenkind legend and irony in this story as well: it took a woman to get the bill passed. :)
Thursday, April 29, 2004
RE:New Stats Show Women Wear Stout Shoes In Small Business
The Center for Women's Business Research announced their annual report findings yesterday. Key findings?
1. Women now own nearly 50% of all privately held businesses.
2. Women are starting businesses at 2X the rate of all privately held businesses (17% versus 9% overall).
3. Women-led business revenues are up 39% since 1997 to $2.5 trillion.
4. Women-led businesses are fueling employment and economic growth -- now employing 19.1 million employees and offering $1/2 trillion in employee compensation and benefits.
5. Although 50% of women-led businesses are in the services sector --- the fastest growth is coming from non-traditional industries for women-led firms -- construction (+30%), public utilities (+28%) and agriculture (+24%).
6. Illinois still ranks among the top 5 states for companies owned by women.
Click HERE to listen a short NPR audio clip about the Report. Or better yet, read this New York Times article.
p.s. Never heard of "stout shoes?" Stout shoes are tough terrain, anti-fallout footwear. And if someone can kindly email me a photo, I promise to display them as re:invention's shoe of the week.
RE: blog back up and running after little BLOGGER SYSTEM BUG
Quick note that re:invention's BLOG is back up and running after our little Blogger system bug. Hadn't heard of this Blogger system bug yet? Please don't pass this along since Blogger and Google surely want to keep this on the low. A big thanks to Scott K. of Adjustafresh, Matt Homann of The [Non]-Billable Hour, and Todd from A Penny For for their gestures of goodwill and assistance during this mini-crisis.
What happened? Went in to publish last week and noticed my template had vanished. Was even unclear about the status of my post archives (I'm a techno-babe still learning the ropes). Here is the note I received from Blogger:
From: Blogger Support [mailto:blogger@trakken.com]
Sent: Tuesday, April 27, 2004 11:35 AM
To: Kirsten Osolind
Subject: Re: help urgent blog template broke?
Hi Kirsten,
I'm afraid you've fallen victim to a bug in our system which occasionally loses template data. Your posts are still safe and recovered, but unfortunately we were not able to recover your template for you. To use one of our default templates, you can click the Choose New Template tab on the Template page. This will let you publish your blog again while you recreate your old template. We apologize for the inconvenience and we are working on getting
this problem fixed.
Sincerely,
Blogger Support
Took Blogger 4 days to respond to my shocked request for support. No offer of restitution. Comforting customer service, eh? Interesting to note in light of the Google IPO stories splattering the papers today.
Saturday, April 24, 2004
RE: men -- and hence, their manly services -- may no longer be needed?
Scientists have found a way to create "virgin birth" in female mice. Specifically, they have found a way to biologically inspire parthenogenesis, a form of reproduction in which the female egg develops into a live birth without male fertilization. The female mice can only reproduce females with this breakthrough technique. Could lead to an all female race of mice ready and willing to conquer the Earth. Have you seen any of those 1950s movies where Rocketeers land on Venus?
Read the WebMD article.
No need to panic about your role being usurped this weekend, guys. Australian embryologist Patrick Tam, PhD, told WebMD that "this is not going to be a straight-forward technique to enable parthenogenetic reproduction of a mammalian species. The mice used in the study were not ordinary mice. These mice contained a specifically engineered gene that altered the activity of the other chromosomes."
Thank goodness! Gives new meaning though to the age old question: "are you a man or a mouse?"
Friday, April 23, 2004
RE: women's entrepreneurial spirit being dampened by lack of finances
In a recent poll, Handbag.com found that although 95% of women had considered setting up their own business, more than half of them were discouraged from doing so by lack of finances. Interesting final note as a wrap-up to this week's VC discussions...
Wanted to thank Jeff Nolan (SAP Ventures), Kirk Walden (author of the PWC MoneyTree Survey and National Director of Venture Capital Research at PricewaterhouseCoopers), Tj (of Tj's Blog), and many other smart sources who added to the lively debate and discussion on re:invention's blog this week. As I reflect back on what prompted the discussion, it was this headline from the Kauffman site:
Kauffman-Funded Study Finds Industry Dominated by Males; Lack of Women Decision-Makers and Few Network Connections Fuel Funding Gap For Female Entrepreneurs.
Hopefully, we have offered the Kauffman Foundation and various media publications that ran that story delicious food for thought (and an alternative viewpoint)!
Wednesday, April 21, 2004
RE: Rock on, oh Venture God of SAP Ventures!
Jeff Nolan, noted authority from SAP Ventures and self-professed egomaniac (duly noted under his About Me section on his SAP Ventures BLOG), linked to re:invention's BLOG discussion about VCs today. Thank you for the link, Jeff! SAP Ventures BLOG is an insightful daily read for any entrepreneur.
Sadly, Jeff disagrees with my recent thesis, although he concedes I've showcased some interesting data. Hmm. I'm not sure what part Jeff calls into question. My theory is that women-led businesses aren't funded because they aren't starting businesses in the sectors where VCs are most likely to invest dollars. Since March 26th, I've been ever so subtly suggesting it has little to do with discrimination or the lack of women VCs. I was hoping that this was a clear and simple thesis to contradict recent media coverage suggesting otherwise. Please tell me again what part of my hypothesis or thesis you disagree with, oh Venture God of SAP. (giggle-giggle + a few doe-eyed eyelash bats).
For the rest of us earthly mortals, you might want to sign up for VCBuzz's e-newsletter featuring blow-by-blow daily VC investments and track records. If you had already signed up, you would have the inside scoop on recent VC funds awarded to Urban Brands (retail sector, led by CEO Robert Grayson, $20M) and FUZE beverages (beverages industry, led by Chairman Joseph Rosamila, $s undisclosed).
Still working on those numbers I promised in yesterday's post. I did re-read the entire PWC MoneyTree Survey for 2003. Business sectors that are women-dominated (finance, services, retail) rank #13, #14, and #16 respectively out of total 2003 VC investments -- $754 million out of $4.9B (approximately 15%). The survey, written and presented by Tracy Lefteroff and Kirk Walden, slices and dices the statistics up, down, and sideways. Surprisingly the survey doesn't report any specific statistics about women business ownership. Out of curiosity, wonder if Tracy Left-HER-off-the-list (I mean, Lefteroff) is a guy or a girl? :)
ED. NOTE: Just received a wonderful note (11:19 a.m. Thur Apr 22) from Kirk Walden, National Director of Venture Capital Research for PricewaterhouseCoopers and author of the PWC MoneyTree Survey. According to Kirk, they did not have sufficient data on ownership/leadership to allow for reliable female/male breakouts by sector. Oh -- and Tracy is a boy. Sigh!
Tuesday, April 20, 2004
RE: re:invention's reflections on yesterday's question
Blogger clearly does not allow for high res or high quality defintion when it comes to graphics. So let me topline the findings here on the right. 64% of all women-led firms are in the service, retail, and finance business sectors. However, most VC funds (just shy of 70%) are going to firms in 5 business sectors (Biotech, Software, Telecom, Medical Devices, and Networking). Biotech surpassed Software for the first time in Q303.
As I see it, there are 2 possible scenarios at work:
1. Women-led firms aren't getting funded for the very reason TJ noted in yesterday's comments (they tain't all about software and biotech). VC money is in demand to address high burn rates and operating costs within the software and biotech industries and deemed less essential for business growth in service, retail, and finance industries. VCs are funding companies that provide the greatest potential return or exit.
The 5 noted industries above provide strong ROI. Sadly, the service, retail and finance sectors (predominantly the domain of women entrepreneurs) do not. (gotta admit it, this scenario is likely)
OR
2. VCs are specifically underfunding traditional women-led sectors (service, retail, finance) because they favor funding based on their good ol' boy network, because there are fewer women VCs, or because VCs have a natural affinity for high tech/biotech. (these scenarios -- suggested by many recent media reports -- while possible, are doubtful)
Am looking for a report with detail about VC funding of service, retail, and finance businesses. Would be curious to know if those service, retail, and finance businesses that ARE VC funded are predominantly male or female led. Also sleuthing for additional breakout of the 31% of "all other business sectors" included in the NVCA graph posted here. Will keep ya in the loop!
Sunday, April 18, 2004
RE: more on women entrepreneurs and venture capital
Experts continue to debate the reasons why female-led firms capture a disproportionately smaller share of venture $$$. Some point to outright sex discrimination. Intriguing new infographic speaking to this issue:
Inviting T.J. over at the Technology, Entrepreneurship, and Venture Capital BLOG to enlighten re:invention BLOG readers with thoughts. Could it be inadequate business plans? Deborah House -- new friend, CPA, and President of The Adare Group (a firm with an exclusive focus on profitability) -- tells me one of the most common reasons businesses are denied access to capital is a poorly written business plan that takes too much work for a VC/equity investor to sift through. Looking at this infographic, however, one might infer that women simply need some kickstart tips about where and how to successfully secure $$$.
How many of the VC BLOGS have made mention of this women and venture funding issue? NONE. Although a few posted smart comments on re:invention's BLOG. Wouldn't it be inspirational if blogging VCs would offer actionable ideas for women entrepreneurs looking for VC financing? Instead of attributing causality for the problem, let's focus on forging a solution. re:invention would link to resourceful VC BLOG posts and herald them with our clients.
On a final note, have recently been asked to develop an infographic about women and international business exporting for Kimberly Weisul, Small Business Editor at BusinessWeek. The delightful infographic above gives me food for thought. Visuals speak more eloquently than a thousand words.
Friday, April 16, 2004
RE: why go public? remember - begin with the end in mind.
A recent article by Joseph Fuller (founder and chief executive officer of Monitor Group) suggests that many of the traditional advantages of being public are no longer valid and that businesses should stay private and avoid the false promise of an IPO as they grow. In the article, Joseph reflects upon Andrew Carnegie's sage words, "Anybody's business can become nobody's business" with public ownership -- implying that a public company has a diversified shareholder base, a board of directors, and governance/outside controls placed on them by people who fundamentally may not understand the business. And he reports that according to The Wall Street Journal a record number of companies (400+) have "deregistered" their stock to free themselves from the "burdensome corporate reporting requirements of Sarbanes-Oxley and other regulations." Joseph concludes the costs of going public are now too high.
Some of his rationale:
1. Capital is no longer scarce, nor is it risk averse.
2. Most companies no longer require public markets to fund themselves.
3. A growing inability of many newly public companies to attain any relevance in the public markets raises the real costs and risks of being public.
4. The costs of personal legal liability and risk to personal reputation have become outrageous.
5. The trend towards entrepreneurship negates going public. Today's industries have become increasingly intensive in terms of human, rather than financial, capital. Knowledge and innovation of a highly skilled and mobile employee base, not access to hundreds of millions of dollars, creates wealth. Public companies cannot retain smart employees who prefer life as independent agents. In essence, public companies spend money breeding future entrepreneurs who will only set sail with insider knowledge.
Ahh yes (note: factitious undertones). Gives fresh meaning today to the phrase, "Begin With the End in Mind." Especially in a week where I am mired in exciting details about new re:invention team members and tedious residual personal issues.
Some of my thoughts? 1) Did those 400 companies delist because of Sarbanes-Oxley or did they deregister because they didn't meet the capital qualifications to stay on the exchange? 2) For a corporation it takes on average $100 million to build a brand. And you can't do that without access to the public markets. 3) I also disagree with Joseph's points 1 and 2 because for an entrepreneur funding is ALWAYS scarce and investors are ENTIRELY risk averse. The only way to fund without "outside capital" is to use personal finances or revenue. And for some businesses that road can be difficult -- rather like navigating cobblestone wearing high heel shoes. 4) If you are lucky enough to secure funding, private equity still demands an exit strategy (either an IPO or acquisition). So entrepreneurs are STILL faced with the dilemma of finding capital.
At least Joseph does suggest some solutions to perfect the model in the final few article paragraphs. Welcome your thoughts...
Tuesday, April 13, 2004
RE: Now-a-Days, Grandmothers Are Knitting Sound Business Plans
Secret fact for today's re:invention readers: I like to knit. Shocker ain't it? I don't even think my mother knows. I took it up because she (and my grandmother) knitted when I was younger and I thought it would be a good way to get back to my roots. Why do I share this fact? Well -- today I've discovered I am not alone. And I am coming out. According to an article in the Asheville Citizen Times, "knitting isn't just for Grandma anymore." The percentage of women younger than age 45 who know how to knit and crochet doubled between 1996 and 2004 (now nearly 20%). More than half of the women surveyed agreed knitting and crochet are "cool."
Why is knitting no longer "only for Grandmothers?" Seems Grandmothers are simply too busy. My source? Yesterday's amazing article about the growing wave of retired women launching home-based entrepreneur businesses, with actionable ideas about how to set up shop. Yvonne DiVita -- hipster Grandmother and author of noted BLOG Lip-Sticking -- wrote about this rising trend in her book, "Dickless Marketing." My Grandmother would have blushed, but I bet she would have devoured DiVita's book ferociously. According to BusinessWeek, more than half of all small business owners are over 50, and 17% are over 65. Entrepreneurship is a good way to overcome economic and emotional exclusion. There is even a site dedicated to Grandmother Entrepreneurs -- Grandmabiz.com -- for smart, modern, mature women who are looking to build home businesses (Seth -- is this a PurpleCow or what?). Whoever suggested that re:invention had a narrow niche....
What I love about Grandmabiz most? Font that is easy on the eyes, simple navigation, and no-nonsense articles that help to alleviate techno-fear. Although I suggest that they add a contact and resources page. Make room for a lot of hip Grandmothers!
Monday, April 12, 2004
RE: Testosterone Inc: Tales of CEOs Gone Wild
Over lunch, stumbled across this nifty little gem, thanks to Ann:
Today's New York Times includes an article about Christopher Byron's upcoming new book called "Testosterone Inc: Tales of CEOs Gone Wild." It chronicles the rise and fall of "celebrity good ol boy" CEOs - mostly male, middle-aged, wanna be rockstars who are drunk on power and driven by sex, greed, serial affairs and glamour. It's an ugly state of the nation story. Check out the controversial book cover, featuring a Mount Rushmore of John F. Welch Jr. , Ronald O. Perelman, L. Dennis Kozlowski and Albert J. Dunlap.
The NYT article explores the fairness and perhaps inaccuracies of Christopher Byron's account. Given that Byron wrote Martha Inc., in which he completely acknowledges Ms. Stewart's power as a business woman in building her empire as well as exposing her "dark side," Byron has developed some street cred that he is fair-minded and progressive.
Read Amazon's review of Testosterone Inc. here.
RE: Euro RSCG Magnet Survey of Media Reports On What Media Trusts & Prosumers
The Tenth Annual Euro RSCG Magnet Survey of Media was released this morning. Not a surprise, journalists surveyed by Euro RSCG report that when it comes to media coverage, they hold CEO information and credibility in low esteem, preferring to rely on consumers' experiences with a company, the quality of a company's products and company reputation as an industry innovator. This is good news for small businesses, who have a distinct advantage over corporations in customer evangelist building. Small business marketing and public relations evoke consumer trust because they are disarmingly imperfect, bootstrapped, and genuine.
The study points to the steady rise of "prosumers," proactive, empowered, informed consumers who have shifted power away from manufacturers, retailers and marketers toward the end user. If you are looking for a reference guide, Regis McKenna depicted "prosumers" and "persistent presence" in his 2002 book, Total Access. Sidebar counsel: some of you marketing aficionados out there may find sections of McKenna's book to be insubstantial fluff.
David Kratz, CEO of Euro RSCG, seems to validate the importance of linking customer evangelism and public relations in one fell swoop in today's press release: "An integrated communications strategy that unifies messaging across all marketing disciplines is only part of the answer....Companies must go even further if they are to leverage the opportunities created by the emergence of the prosumer. They must partner with and start a dialogue with customers, consumers, academics, media--basically each and every stakeholder--and inspire them to carry the company message."
The bell has tolled for a remarkable change in corporate P.R.
p.s. someone might send this breaking news over to the good folks at the Church of the Customer BLOG. Huba and McConnell's follow-up to Creating Customer Evangelists might wisely explore the reconciliation of p.r. and evangelist creation.
Sunday, April 11, 2004
RE: The Sun Times' Powerful Women Series, Gal Power and Rabbit Giblets
For those of you looking for a little inspirational GAL POWER today (in addition to nibbling on rabbit giblets), Chicago Sun Times debuted a wonderful new series featuring Chicago's 100 Most Powerful Women. Throughout April, reporters Cheryl L. Reed and Janet Rausa Fuller will share findings from 5 months of interviews with powerful women in arts, business, politics, nonprofits, law, sports, philanthropy, health care, education and media. The series kicks off today with Women in the Arts. No Playboy bunnies here.
And the 2 fearless female reporters offer this wise definition about power:
"Power is not solely influence. It is not celebrity. Nor is it defined entirely by position or title. Rather, it is what a woman does with her position, influence and talents. Power involves passion, politics and personality."
Hop on over and read the entire series for yourself.
Happy Easter!
Saturday, April 10, 2004
RE: never proceed on a yellow light. Make your goal green light go.
Had brunch this morning with Melissa Giovagnoli of Networlding. Networlding hopes to build collaborative individual and community networks through webs of inclusion and visibility. In laywomen's terms: Networlding's goal is to connect the dots. Wow -- guess I need to stop saying "I know nobody." I know somebody who knows alot of somebodies.
As the 60 million US small businesses grow their companies' staff's and offices, they will become distributed around the world with growing supply chains, distribution channels, external outsourcers, and dispersed customer bases. As they grow they will experience an even greater need to learn how to build strong networks. Want to go global? Start with Laurel Delaney and GlobeTrade. Then look to online networking to spark fires & light paths. With tools like LinkedIn and Ecademy (the largest online network in Europe and Asia, spearheaded in the U.S. by Gordon Ebanks) small businesses can compete more effectively. VCs are pouring money into these software platforms: Friendster raised $13 million from John Doerr (of Kleiner Perkins Caulfield & Byers) and Bob Kagle (of Benchmark Capital). LinkedIn and Spoke received $4.7 million and $11.7 million respectively. Washington Post and Knight Ridder are backing Tribe Networks with $6.3 million.
In addition to sharing thoughts about Ecademy, ideas about how LinkedIn could commoditize their networking service, and juicy details about Chicago movers and shakers, Melissa offered this counsel:
As an entrepreneur, you shouldn't proceed on a yellow light. Particularly when it comes to hitching your wagon to other people. You should apply a litmus test on potential alliances and partners by asking multiple members of your existing network to validate a new potential contact. Only with multiple source validation should you consider green light go. Melissa suggests this rule applies for both face-to-face and online networking. For instance, to prevent SPAM a LinkedIn request or referral should be submitted with a minimum of 3 endorsements, not just referrals. Not unlike a job candidate interview.
Makes for an intriguing soundbyte:
How to succeed as an entrepreneur? Never proceed on a yellow light. Make your goal green light go.
Thumbs up or thumbs down? Share your comments below.
Thursday, April 08, 2004
RE: re:invention has expanded our team
Wanted to whisper news to re:invention BLOG readers. Today, re:invention expanded our team. re:invention advocates a new women's consortium; collaborating, creating and connecting. Our team of women entrepreneurs will work with your company to deliver revenue-generating and business-building marketing programs.
Our newest affiliate is Ann Kostopanagiotou. Can't say enough about Ann. She possesses admirable character. In his new book, Barry Moltz wrote that entrepreneurs should surround themselves with people who can weave twigs and threads into tapestry - and that is Ann's specialty! Ann joins the re:invention team having worked with clients the likes of Dr Pepper/7 Up, Burger King, Wendy's, Buick Dealer Groups, GTE, Frito-Lay, Hyundai, Barton Beers, Jones Dairy Farm, and Andersen Soups. Her track record includes stints at respected agencies including Jordan Tamraz Caruso Advertising (JTC), Frankel, 141 Worldwide, Johnson Marketing Group and Wunderman Chicago.
A warm welcome to Ann. You can read more about Ann under the "team section" of re:invention's website (site link is top right corner of this BLOG). Expect to see more additions to the re:invention team in the next few weeks!
Wednesday, April 07, 2004
RE: disappointment (cut from today's Tribune article about The Apprentice)
Entrepreneurs are always eager for ink -- public relations generates business leads and is cheaper and more effective than inauthentic advertising. But after sharing your quote....you can still be cut from the article. Or, as suffered Seth Godin, the article photo can end up unflattering. Even consummate marketing professionals get disappointed, particularly when you have something important to say.
That's the case this morning. I was interviewed by talented writer Donna Bosso of the Chicago Tribune for an article about the depiction of women on the show "The Apprentice." I braved the cold for nearly an hour on Friday for outdoor photos with Michael, one of the Trib's finest photographers (hailing from South Africa).
And they cut me from the final article. Or, as Michelle Miller of smart BLOG Wonderbranding for Women says, I "was fired before making it to print." Turning to Donald Trump, himself, for advice about disappointment, I found his recent quote: "You cannot stop. If there is a concrete wall in front of you, you have to go through it. You can never, ever give up or even think in terms of giving up."
So onward and upward! For kicks, thought I'd share my original quote (even if Donald may never read it):
"So many reality show participants (particularly those from Chicago) have a career track record that includes entertainment, bartending or modeling. Gosh darn thrilling to see substantive women (like Amy) with credible business backgrounds portrayed on camera. Question is: what impact, if any, will the Apprentice have on former women cast members after the screen fades? Women already face an uphill battle positioning themselves as serious business professionals. As a former reality show participant, is your perceived authority and level of trust diminished in the eyes of your clients?
And with regard to erring on the side of conservative with your attire? Yes - depending on the situation, I wear suits. Sometimes white ones with high heels. I reject the idea, though, that I need to downplay my attractiveness or sense of style to succeed in business. Women who are attractive, feminine, AND able to articulate smart ideas have a competitive advantage. It's all about being real. I think it pays to be yourself, whomever that is."
P.S. Oh yeah. Did I mention I, too, have my MBA? It's from a little school with a disappointed basketball team named Duke. Duly noted due to its reference as a "stamp of conservativism" by the young, aspiring women quoted in the Tribune article.
Tuesday, April 06, 2004
RE: Kerry's Women's Business Center Safety Act fails, H.R. 4062 Passes
Last month, Sir Kerry introduced the Women's Business Center Safety Act designed to protect women's business centers in 39 states. The bill would have provided full funding of all at risk centers. You may recall re:invention blog wrote about the potential sad closing of the Ft. Worth Women's Business Center back on January 19th. On April 1st the Republican majority blocked the Act, but Congress DID unanimously pass H.R. 4062, a bill designed to revive the nation's largest small business lending program and make $3 billion in loans available through the SBA's largest lending program known as 7(a). 53 women's business centers are still in jeopardy of losing their funding. Wish I could link to a BLOG that has talked about H.R. 4062 (always trying to be "linky")...but I can't find one. Looks like you heard it here on re:invention first.
I loved Kerry's quote in the release announcing the recent disappointment and win: "Women-owned firms are constantly breaking down the barriers of our past and proving that the business world is no longer a good ol' boy network." Hear! Hear!
According to the feature story in today's Investor's Business Daily, women favor Kerry 50 to 40%, single women 60 to 30%.
Monday, April 05, 2004
RE: a brand is an empty-page book...
Todd over at A Penny For BLOG has kicked off an enlightening exchange between top marketing minds. This week's question -- tossed out like a bone still dangling with nibblets of meat to the wild dogs -- is "What is a Brand?"
Some smart thinkers have already taken a stab at what a brand IS. And then there are some who have broached what a brand is NOT. At re:invention we do alot of branding work for clients. We begin each and every project by giving our clients an empty-page book (the book cover reads: just when the caterpillar thought the world was over, it became a butterfly).
And we whisper:
A brand is an empty-page book. (6 words)
You can fill the pages with stories of wisdom or woe, mystical phrases and myth, facts or textbook jargon, taglines, rules, hand-drawn or computer-rendered graphics, idolatry, characters, places, shareholder and stakeholder soliloquies, customer pain and bandages, shared experiences, assorted product attributes and methods of operations, doodles. You can even let "guests" help you write it. But every book is different - there are no right ways to write a book. An unlimited number of pages that someone will read as long as it remains interesting and often (but not always) a table of contents to serve as a guide. And when your brand story is done - 1 month or a century from now - it will read just like a book. The story, the telling, and its ending are up to you.
P.S. Todd, ever the genius, has benevolently and graciously added Feedster RSS to re:invention's BLOG today. He is our special friend for life. And A Penny For now leads re:invention's BLOGroll. Todd gets more than a couple of pages in re:invention's book.
Friday, April 02, 2004
RE: board, board, board...
My boy is still on the road for work (found out too late that he is an Alpha male) so I am spending Friday nite alone. Have been musing over a discussion I had today with Amy Littleton, fellow National Association of Women Business Owners (NAWBO) member and Kemper-Lesnik Communications guru. Our topic of choice? Women and board representation. Major corporations and organizations are increasingly inviting professional women to serve on their boards. Women held 14% of Fortune 500 board of director positions in 2003, according to Catalyst, up from 8% in 1993 when their survey was first conducted.
Warren BUFFET once said he looks for 3 traits in board members - energy, intelligence and integrity. Although Warren BENNIS has written "exemplary leadership is gender neutral," it has been my experience that many women leaders have a predisposition toward Warren BUFFET's 3 preferred traits. Well, with the exception of Martha (who may have been held to more stringent standards than most men) and Leona. And as John Kerry pointed out on PBS's Newshour in January, "today's cabinet members are yesterday's corporate board members." So boosting women's appointments to corporate boards could bode well for women's advancement in national politics (see my February blog entry on the State of Women In Politics).
Sarbanes-Oxley, a federal law passed in 2002 that governs corporate disclosure, now requires at least 1 financial expert to serve on each public company board. A smart talent pool to ensure legislative compliance? Women. According to The National Association of Corporate Directors (NACD), women account for 52% of all financial managers and nearly 60% of all auditors and accountants. And boards of directors exist to serve the needs of shareholders. Since women comprise 47% of all U.S. investors, purchase 80% of all goods and services in the United States and own 38% of all U.S. firms...it is clearly important that women are tapped for board leadership roles.
One of re:invention's clients is seeking board appointments and I came to Amy for her thoughtful suggestions. Corporate board members clock 25 to 30 days per year (a hefty time commitment for women and men). Boards are apparently beginning to recruit new directors "based on experience not title," which again, bodes well for women. However, advisors still suggest beginning with a non-profit board appointment first, and building credibility for corporate board inclusion. For those less concerned with pay and prestige as well as those who would prefer less demanding time commitments, advisory boards (such as those constructed by the Athena Foundation) offer a good alternative. Women can also consider state and local boards, councils, and commissions.
Thanks to Amy, I'm now enlightened with a number of resources - some that match women with company and organization board positions, others that offer insight into board types and operations. Thought I would share them with you:
- Boardroom Bound - helps connect women and corporate boards
- Partnercom Corp - ditto
- NAWBO Chicago's Board Appointments Committee - helps members become "board-ready"
- Athena Powerlink Program - creates 1 year advisory boards for women, recruits & matches women to serve as advisors for those 1 year boards
- Inc.'s Resources - Where To Begin, Working Your Board, Being A Board Member - akin to a Bible
- NACD's Recommended Books for Corporate Directors - once you've made it
- The Business Professionals Guide to Non-Profit Board Service - for beginners
- Resource for Getting Appointed to Government Boards - for those with a political edge
and finally, a resource guide for women entrepreneurs who are considering building their OWN board, in the form of a nifty pdf. re:invention is just now beginning to explore a board of our own.
Thursday, April 01, 2004
RE: tools for 'Fools and info-hungry marketers
Happy April Fools Day!
Earlier today Google loudly introduced GMail -- a free webbrowser based email service boasting storage amounts of 1 gigabyte per user, seemingly perfect for when you are traveling on the road. Fast Company's BLOG was one of the first to mention the announcement. Turns out it may be a cruel April Fools Joke. Even IT Vibe BLOG's Andy Barker is scratching his head. Google is known for previous hoaxes like this priority pigeon-rank system. Gosh durn. Leaves us anxiously excited and disappointed all at once. Hope Google's not being cloy....as it will surely irk investors.
In the meantime if you are a small biz owner hungry for real tools, Research Buzz Blog posted an entry yesterday about a new resource, The Marketers Portal. Over 5000 handpicked links including live media feeds, news, and helpful resources organized by category. Agree with Research Buzz's review (it's not altogether easy to navigate) -- but it is still a handy addition to your reference sources.
If you prefer to surf direct: The Marketers Portal.
Unlike Romania's Playboy Magazine, I won't attempt any tasteless April Fool's Jokes today. And if you don't remember that women's issue fiasco from 2000... well, it is worth a strange link of the day read.
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