Friday, July 30, 2004
RE: Kirsten is on hiatus until further notice
Opening up a second office in L.A. requires full dedication on my part. You will hear from me sporadically over the next three weeks. When holding my breath and containing my voice becomes unbearable, I will voice breaking news. I'm also working on something silent, sexy, and sorta good to share with the blogging world. You never know, so keep checking back.
Since I'm a trendspotter by nature....
a first mover...
a passionate evangelist for everything that is remarkably different, kinda cool, and productive...
well, you might wonder if this serves as a leading indicator for the blogosphere.
You should wonder. And it does.
Thursday, July 29, 2004
RE: Spike TV's American Start-Up (Expect Entrepreneur Babes in Bikinis)
Proving his salt as more than mere spy, Matt Damon is mustering up for a mighty new reality series on Spike TV -- American Start-Up. In the spirit of American Gladiators, show host Matt will incite 8 entrepreneurs to hoop-jump through a series of challenges and tests in their pursuit of $50K seed funding.
Shucks. You can make more $$$ than that presenting at the Keiretsu Forum.
"We believe in the contribution and independent spirit of the American entrepreneur," said show co-host Ben Affleck (yes Ben and Matt are together again!) in the official press announcement. "And we are excited to work with Spike TV to bring these stories to their audience."
Wow. Such keen insight for the Spike TV viewing audience. Sure -- Spike TV is a top 10 network in Primetime and attracts a young, rich audience. But hey, folks - it's the all boys club member of the MTV network family (M 18-40 into hot roding and tuning) -- known for Striperella, Joe Schmo 2, and All Things Trek. Surprising network partnership for a program about business startups since 50% of all privately held businesses are led by women and women are starting businesses at twice the rate of men. Hmm. More stats about women entrepreneurs HERE.
We can likely look forward to show episodes where women entrepreneurs are depicted as bikini-clad babes who nestle with investors and moments of girl on girl cat fight action.
American Start-Up on Spike TV -- the male entrepreneurial community's counter assault -- is expected to air in 2005. :)
P.S. Does anyone still care about Affleck now that J-Lo and Paltrow both bested him to the altar?
P.P.S. At least Damon and Affleck have given an old college try to relate to women. They did, afterall, show up in knock-off J-Lo and Paltrow dresses at the 72nd Annual Academy Awards show. Oh wait. That was Matt Stone and Trey Parker (South Park creators). Got confused there.
Wednesday, July 28, 2004
RE: Crazy is As Crazy Does, Forrest - An Event for Kinda Cool Chicks
Plenty of people in my life have called me crazy .... mostly men (usually after they do something really incorrigible). I like to think of myself as pleasantly eccentric and passionate.
Gives me great pleasure to announce a don't miss event from Mr. Crazy himself - Barry Moltz - and his band of merry marketing friends...
- Jackie Huba, Author of "Creating Customer Evangelists"
- Melissa Giovagnoli, Author of "Networlding: Building Business Relationships and Opportunities for Success"
- and George Ludwig, Author of "Power Selling: Seven Strategies for Cracking the Sales Code"
The Growing Your Business Like Crazy conference is on October 21st. You may not want to tell anybody about this event, at least not until you REGISTER YOURSELF. Betting these early discount tickets will sell out. Placing a permalink on re:invention's right navigation bar!
Monday, July 26, 2004
RE: Bark Face - All Women Beware!
Spoke to a 45 year old young friend and angel investor today about re:invention's growth objectives. I want to teach the world to sing in perfect harmony, I told him. But I don't have the money for the staff, the aggressive national marketing expansion, the beautifully furnished office space...
His advice: "You have bark face, Kirsten."
"Bark face?" I asked.
"Everyone knows the old saying you can't see the forest for the trees," he told me. "But you are allowing yourself to become so overwhelmed with the cash flow limitation details that a tree has actually left bark indentations on your face. Back off -- cuz it ain't pretty."
He made me laugh. Most entrepreneurs do get mired in the day-to-day management of business life. Things are never quite as bad as they seem. How do you counteract bark face? 
Aside from a good jar of Creme de la Mer, it's all about perception adjustment, capacity planning, portfolio strategies, and in my humble opinion....a diverse group of advisors.
In the next few days, we will formally and proudly announce re:invention's advisory board. Since re:invention hasn't been in business 2 years, we didn't qualify for Athena Powerlink status and created our own board from scratch. It can be done.
Stay tuned. In the meantime, take a moment to reflect on how far you have come. Click HERE for 6 tips about Creating Your Own Advisory Board from Entrepreneur Magazine's July edition to help erase those ugly bark indentations from your face. And if you are still in need of inspiration, you might read THIS post from Only Once BLOG (by way of Jeffrey Nolan's BLOG).
RE: NII Innovation - pre-Seth Manifestos - been there done that.
After harping on Will Bygrave last week for his "see men first for financing" quote, I've spent the weekend analyzing The Global Entrepreneurship Monitor in more detail. According to the report, most U.S. start-ups are pursuing less-than-innovative ideas in highly competitive industries. Only 4% of all U.S. start-ups are pursuing "an idea new to all in a market with few competitors."
Appears purple cows are headed for extinction, unless we handpaint herds of Holsteins. Seth Godin fans would surely sign up for service.
Got me thinking this morning about the National Innovation Initiative (NII), founded in 1986 as a part of the Council on Competitiveness. Ironically, they just released their National Innovation Initiative Interim Report this past Friday with a call to action: Innovate or Abdicate.
Seriously, both the organziation and the report are somewhat silent, unpromoted precursors to Seth's Change This! Manifestos. Download the entire NII report HERE. Quite a list of NII organization board members here from Government Thought-Leaders to Fortune 500 Industry Leaders. Oh my -- gasp -- perhaps it has already been "done before??" Seth and his band of merry interns probably also realize that the "Change This!" Manifestos site could easily morph into a pay-for-play partner channel to promote private and government organization studies among word of mouth influencers even though it is being pitched as a solo prophet's pedestal.
Be sure to check out the NII's National Innovation Agenda Chart (Talent, Investment, and Infrastructure) on pages 12 and 13.
Some great information in the report for women entrepreneurs!
Saturday, July 24, 2004
RE: On Being Lonely...
A woman mentor and former professor shared this quote with me today from Lorraine Hansberry:
"The thing that makes you exceptional, if you are at all, is inevitably that which makes you lonely."
Friday, July 23, 2004
RE: As Entrepreneurs Churn - A Limited Time Run Friday Blog Soap Opera 
The PLACE: Chicago
The TIME: Present Day
Today's SOAP SPONSOR: Chicago-based Unit 3 Design, Web Design - Graphic Design - Photography.
Featuring Today's GUEST STAR, Andrea Learned, 
the co-founder of ReachWomen and co-author of "Don't Think Pink: What Really Makes Women Buy - And How To Increase Your Share Of This Crucial Market" (AMACOM, 2004).
We JOIN our Cast of Characters Already in Progress......
Click HERE to review our Cast of Characters and Show Background.
Click HERE for last week's episode.
The age old conspiracy between policeman, donuts, and squad cars still unresolved, the 4 Angels left in town were salivating over maple glazed donuts while sitting in Angel Gideon's car in the Crisp and Creme Donut parking lot.
"Did you see the Microsoft news this week? $3.5 billion to Bill Gates - a one time $32 billion dividend. I should never have gone to Harvard to get my M.B.A. I should have quit high school and started a software company." said Angel Seraphim to Angel Gideon, ignoring the fact that Angel Gideon was engrossed in conversation on his Blackberry 7750 from Verizon.
Angel Gideon's Blackberry 7750 kept him "in-the-loop" while he was on the go with push-based technology that automatically delivered email and other data to his wireless handheld. Blackberry - the best data experience for people on the go!
"Of course we play a hands-on role in our investments during the early stages..." Angel Gideon said to the voice on the other line.
"The fresh donut light is on! Yippee!" shouted Angels Tweedledee and Tweedledum gleefully, nearly tripping over themselves as they tumbled out of the car passenger door in a mad rush to get to hot donuts.
"Bring back Melody - I mean, maple!" counseled Angel Seraphim, wincing at his Freudian slip. Mistress Melody was indeed always dangling in the back of his mind.
"I'd answer that question for you, Dr. John. But you know limited partners don't share performance information." said Angel Gideon, demonstratively tapping the Blackberry bud in his ear. "Besides, Blackberry tell-alls aren't welcome in business."
*****On his daily pick-up jaunt to Crisp and Creme Donut, Tyler (part-time serial entrepreneur and full-time alpha male playboy) was dreaming about the
2005 Chrysler 300. Can luxury come with a 340-horsepower Hemi V-8? A sedan with attitude. Inspiration comes standard!
It may be bling-bling, but I am the man, Tyler thought to himself.
"I want a C-300, lack of donut holders bedamned," Tyler said emphatically to Jim (serial technology entrepreneur and good boy in disguise), as they waited patiently in line at the counter.
"Maybe you should call to see if you can get one donated. I read that Big Snoop Dogg is trying to get one..." smart-mouthed Jim, who had secretly just received a call from his Detroit dealership contact informing him that he was next in line for a color called Cool Vanilla.
"Yeah - but will it be worth the wait of a good Crisp and Creme?" asked Brad (fellow tech team member), as he finally scored front and center counter position. "I'll take 2 maple-glazed, 2 jelly-filled, 1 regular-glazed, 1 chocolate creme-filled, 2 chocolate covered with sprinkles. What do you guys want?"
The mute minimum wage counter clerk, wearing name tag "Bwana," silently handed Brad his change.
"I heard some guy named Tom owns this place. I'm pretty sure his name is Tom. Look at the crowd. Ol' Tom is raking it in. Wonder what's next - liquid glazed donuts?" asked Jim. "You planning on heading out to Heaven's Bar tonite, Tyler?"
"Got late night plans with Melody but I could hit Heaven first." Tyler replied.
"You ought to be taking Melody to dinner. She's a keeper." said Jim.
"Hey - did you two catch the Pezzini article in
Computing about web services taking SOA and business process management to mainstream adoption?" asked Brad, in between chocolate donut bites. "With some simple and consistent standards, combined SOA+EDA could be powerful stuff."
"What just came out of your mouth?" asked Tyler, eyebrows raised.
"Yeah. Exactly when did donuts become brain food?" added Jim.
*****Melody
(aspiring entrepreneur and local "good girl") had waited all week for the Greater Chicago Center for Future Women Entrepreneurs Workshop, featuring Andrea Learned, the co-founder of ReachWomen and co-author of
"Don't Think Pink: What Really Makes Women Buy - And How To Increase Your Share Of This Crucial Market." Melody had read Andrea's book voraciously, eagerly awaiting the chance to corner Andrea for advice about Melody's Deli.
Melody's business advisor at the Women's Business Advancement Center - Pam - had her head in the clouds lately. Melody's intuition told her Pam was either adjusting her Prozac levels or dating someone new, but she didn't feel comfortable enough yet to ask about it.
Andrea wrapped up her presentation to a standing ovation. Melody waited for the crowd to disperse...
"Thought-provoking presentation, Andrea. My name is Melody. I'm opening my own business - a deli for women. I'm just now finishing up the business plan. Any good advice?"
"Well, Melody," said Andrea. "I haven't read your business plan, but I can offer a few ideas. Surveying local business people in advance of opening and offering them some incentive to help you - say two free sandwiches when you open your doors - is a great way to help you develop a niche for your deli."
"Could you tell me a little bit more about this niche idea, Andrea?" Melody asked.
"Sure - here's an example: Maybe the businesses located in your area are mainly recording studios or artist's lofts. You might poll them to see if evening hours would be helpful. If so, you could become the "open late" deli. They'd be so psyched that you asked them before you opened your doors that they'd be sure to come in droves, and tell all their later-houred friends.
Perhaps the nearby health club is swarming with people taking quick fitness breaks at noon. Your deli could offer a healthy menu (extra thin bread, perhaps?) with a limited number of sandwiches. You could deliver orders to the healthclub's front desk at 12:45 to make "grab and go" easy. Your deli could be the "stay fit and still eat" deli - and heck, you could make some fun t-shirts that say that.
My point is - the answers to your marketing questions are there for the taking. Jump into the community long before you open your doors, develop an informal email advisory board of deli patrons or just start talking to folks on the street, and strive to serve them the best you can.
Another tip: women are likely the core of your deli market, from secretaries to executives, and they LOVE to be asked for suggestions. You'll secure their patronage and loyalty when you use their input and serve them the kind of sandwiches they want, at the hours they want, combined with the side items and drinks that they want. Besides loving your food, and considering your business a mid-day solution for their busy lives, all these women will enjoy feeling like they are helping a woman-owned business succeed.
You can really create a bit of community with your small business.
OK. Gotta run. I wish you the best of luck, Melody. For more business building tips, check out my Learned On Women blog at:
www.andrealearned.com!"
Melody left inspired. She decided she would have to cancel plans with Tyler tonite. She had work to do before her morning meeting with Pam.
*****"Hi Pam. Hey - my plans changed for tonite. You interested in getting together, say 11 P.M.? I'd come over earlier, but I have uh...back to back, important dinner meetings. I'll bring over
Pommery Pop, designed for lovers of beauty and non-conformity who are looking for new sensations. POP is the sound of the cork leaving the bottle, conjuring up the spontaneous high spirits of party-time."
"Oh, Tyler." sighed Pam (counselor and coach at the Women's Business Advancement Center, twice failed serial entrepreneur). "Thanks for thinking of me - but I have a 7 a.m. breakfast meeting with an advisee. And I'm simply too exhausted."
That makes...TWO strikes today for Tyler.
And so as the world turns, the sands, the hourglass, our lives...
...Why was AACK Bio-Technologies Founder and President Christine too busy to appear in this episode? Could it have been an important meeting with Investor Tom? Just who IS Investor Tom?
...Why was Angel Gideon being asked about performance information...and WHO EXACTLY WAS DOING THE ASKING? Could it have been AACK VP and PhD Dr. Raymond?
...Will Tyler perish when Jim scores the Chrysler 300 in Cool Vanilla?
...If (actually WHEN) Brad eats all 8 Crisp and Creme donuts, will he effectively have enriched his brain capacity to the point where he will win the next Nobel Peace Prize? And MORE IMPORTANTLY, will the general public discover the evil mastermind functional food fortification plans of Crisp and Creme founder - aka...
Investor Tom?!?!?...Will Melody heed Andrea's advice and develop a polling plan for Melody's deli?
...Will Melody and Pam talk about canceling their dates with Tyler during their business meeting tomorrow morning...finally exposing the Tyler full-time alpha male playboy empire?
Be sure to tune in next week for
As Entrepreneurs Churn!!!! Are you a woman-led business with less than 50 employees who is interested in advertising sponsorship for As Entrepreneurs Churn? Do you have a product you would like us to write into our storyline?
CLICK HERE for more information.
Thursday, July 22, 2004
RE: "W" is for "Women" & "M" is for "Mother-_____"
Advice from Two Mothers: Mamma-Bush and Mamma-Kerry.
"Stand up straight and keep your hair out of your eyes."
- First Lady Laura Bush, to her twin daughters before sending them out this summer to campaign for Daddy.
"We need to honor women in all their complexity. It's time that we acknowledge the wisdom women have acquired by managing the chaos of daily life. Women are realists, the glue that holds society together. They bring a reverence to life that's instinctual, not just intellectual."
- Teresa Heinz Kerry, to her stepdaughters and Arianna Huffington.
Hmm.....
Little Jenna Bush reportedly stuck her tongue out at the media on the trail yesterday. Hope Teresa Heinz Kerry's stepdaughters pay more attention to mamma's advice. Then again, the Kerry girls have been busy wearing transparent dresses at Cannes, right?
Wednesday, July 21, 2004
RE: The 4 Keys to Securing Funding or "Dear William Bygrave, You Are Inane!"
Last week I mentioned that the National Federation of Independent Business reported a record high optimism index for small businesses, yet a decrease in the number of businesses expecting to expand.
TODAY'S report from the Global Entrepreneurship Monitor, a joint research project of Babson College and the Kauffman Foundation, echoes that finding. The study found that 80% of all entrepreneurs in the U.S. anticipate hiring fewer than 5 employees over the next 5 years. The study attributes unenthusiastic growth expectations with low venture capital funding opportunities. According to the study, entrepreneurs reported an 80% decline in VC funding in the last 3 years.
William D. Bygrave, the Chair for Free Enterprise Studies at Babson College, is quoted in the press release as stating: "The bad news is a disappointing drop in the level of classic venture capital funding...Entrepreneurs seeking investment for their businesses should first ask male relatives who are entrepreneurs with college degrees and have high incomes;
next expand the search to female relatives, friends, neighbors, and work colleagues; then turn to strangers; and finally, and in very rare cases, approach formal venture capitalists."
ASK MEN FIRST? Inane! Does William not know the new face of wealth wears lipstick? According to Merrill Lynch, 45% of Americans with more than $500,000 in assets are female. 37 million women in the U.S. are investing today.
I will conceed that early stage funding options are limited for entrepreneurs - both men and women. There are very few investments being made in early stage companies and most of those companies are in Silicon Valley or Boston.
The 4 KEYS TO SECURING SEED FUNDING? Intellectual property, first mover advantage, a unique idea, and a talented management team. A lawyer, "network savvy" marketing advisor, or local CEO contact can thrust open doors. Beyond VCs, angel investors are a smart seed funding option for a women entrepreneur's toolbox.
CLICK HERE to read more about the Global Entrepreneurship Monitor report.
P.S. Oh William...you might want to consider a new PR agency! ;)
Monday, July 19, 2004
RE: The Rise and Fall of Martha's "Unkind" Roman Empire
USA Today offers an intriguing column in their Money section today from Steven Strauss, author of The Big Idea: How Business Innovators Get Great Ideas to Market. Steven assesses the Martha Stewart debacle -- how she was never charged with insider trading, how the prosecutor charged her for being "Unkind and Un-American." The BEST part of the article? A list of how Ms. Martha built her empire.
The short list:
1. Networking works...Martha Stewart's big break came when her then-husband opened some doors for her in the New York publishing world. We all get opportunities, but when presented with hers, Martha used it for all it was worth.
2. Publicity makes a difference...parlay your news and good fortune into media ink.
3. Strategic partnerships are key...it extends your business brand.
4. Obsession builds business...work was Martha's life and her life was her work.
5. Hubris is deadly...woe to he/she who believes their own press releases.
6. Kindness counts...a lesson for Martha as she was deemed a "witch" by many of her former employees.
#6 has me cautiously siding with Martha -- particularly when it comes to former employee criticism. Rarely can you expect a disgruntled former team member to speak accurately or well of a former boss (although it is much more professional to do so). One might consider that Martha's notorious "unkindness" to former employees may be overblown hype based on unverifiable facts.
With all due respect and deference, media feeds media. And media hankers for hype.
The Martha story offers amusing parallels to the rise and fall of the Roman Empire: a decline in values, hoarding and deficit, financial corruption, inferior technology.... ;)
In honor of Martha's Roman Empire rise and fall I offer this quote from Roman playwright, Lucius Annaeus Seneca:
Ingratus est, qui beneficium accepisse se negat, quod accepit: ingratus est, qui dissimulat; ingratus, qui non reddit; ingratissimus omnium, qui oblitus est.
English Translation: He is ungrateful who denies that he has received a kindness which has been bestowed upon him; he is ungrateful who conceals it; he is ungrateful who makes no return for it; most ungrateful of all is he who forgets it.
P.S. Is it any wonder I sign my emails: "Kindly, Kirsten."
Sunday, July 18, 2004
RE: Women, Business, & "The Dark Ages" -- the NCPA Study and website
The National Center for Political Analysis. Yes -- the same NCPA that appeared in the NYT two weeks ago. Nebulous name. Good mission: free enterprise, self-reliance, fairness for women in the form of NCPA's recently released study that concluded that modern business is "stuck in the Dark Ages when it comes to accommodating women in the work force."
A division of the NCPA headed by Celeste Cogan known as The Center for the Study of Women in the Economy has set up a nifty little website, appropriately named "Women in the Economy." It's a virtual study place for anyone interested in women's interaction in American economic life full of articles, problem-solution scenarios, business agendas, and polls. Although the NCPA professes impartiality, I detect a slight pro-White House slant. Also interesting to note -- just 1 woman (a "philanthropist") on the NCPA parent board. Still, the new "Women in the Economy" website is worth A LOOK.
Friday, July 16, 2004
RE: As Entrepreneurs Churn - A Limited Time Run Friday Blog Soap Opera
The PLACE: Chicago
The TIME: Present Day
Today's SOAP SPONSOR: Dickless Marketing and Windsor Media Services. Smart Marketing to Women Online.
Featuring Today's GUEST STAR, Dr. Christian Trevor, well known South Beach cosmetic surgeon. Dr. Trevor resembles this man (but only on a good hair day).
We JOIN our Cast of Characters Already in Progress......
Click HERE to review our Cast of Characters.
Click HERE for last week's episode.
It was 11 p.m., Melody noted, as she listened intently to serial technology entrepreneur Tyler justifying his love.
"Baby, I need my space. I don't want anything serious or anyone that I have to answer to. I like things the way they are."
Tyler took his right hand, pulled Melody's long blonde hair back across her shoulders, and ran his fingers gently down Melody's back.
"Well, maybe we could attend the Business Growth event at Chamber of Commerce together next week?" Melody asked plainly. "You know so many people, Tyler -- it would be fun to attend with you."
"That's a waste of time for you, sweetie. What kind of business advice do you need? God you are so beautiful. Every time I look at you..." Tyler said softly. "Come to bed."
Proverbial "good girl" Melody had made Tyler's house payment this month. She knew he needed the money. He'd spent 2 challenging years getting his 3rd startup off the ground, and had yet to score his first customer. He had been so kind to her, even if he feared getting too close. Melody allowed Tyler to lead her by the hand to his bedroom.
Tyler paused to tune in to a country station on his Bang & Olufsen BeoSound 3200 audio system. The BeoSound 3200 lights up in a soft glow of anticipation as soon as you reach out your hand! And country music pop made for a great background soundtrack.
*****Christine, President of AACK Bio-Technologies, sat in her office looking out the window at the Chicago city skyline and the expansive night. She knew she should head home and fall into her husband's arms as the hour was late. The piles of work, the prospectus for Investor Tom, W-I-P proposals, and
ACT Contact Management Activity follow-ups sprawling across her computer implored her to stay. Christine considered ACT Contact Management one of the most effective and essential tools for entrepreneurs aiming for serious lead generation! It had been a good week in light of the Wall Street Weekly Small Business article on AACK. Sadly, no sketch, but that was surely her long-term aspiration.
Christine's phone rang in the dark, causing her to jump dramatically. She answered wearing her top of the line, comfortable and high quality audible sound
Plantronics Encore H101 Binaural Headset, preparing to apologize to her husband -- AACK VP and PhD, Dr. Raymond. The voice was vaguely not readily familiar.
"Do you remember when we used to go to Singing Sam's after high school home games and I used to always beg you to stay out after curfew?" said the voice on the other line.
"Why Dr. Christian Trevor. You're usually better on the Christian-Christine trivia than I am." Christine laughed.
"The Wall Street Weekly article on AACK Technologies was impressive." said Dr. Christian Trevor. "Great news for you and for AACK. Faring better than me I'm afraid. Last week I almost lost a patient on the operating table and I think I might lose my son in a custody suit."
"What goes up must go down, Christian. How is Julia?"
"Do you have to go there Christine? How is good old Ray?"
"He sleeps next to me every night," replied Christine.
"Sleeping is good. Especially next to a career woman with disturbingly perfect legs -- what every new aged flawed superman needs." said Dr. Christian Trevor. "Don't forget to balance work and family, Christine. Or you'll end up losing it all. Have a good night and get yourself home. And next time you call me...any time other than Tuesdays at 9 p.m. central."
Christine hung up the phone and for a moment recalled the way she had felt when Christian had first moved away to South Beach. Maybe next week she would check into Botox. Christine awoke, face down on her computer, the sunlight streaming in through AACK office windows.
"You stayed here last night, Christine?" she heard her husband AACK VP and PhD, Dr. Raymond saying somewhere above her. "Anything I should know?"
*****The four angels left in town were embarking on a 3-hour tour aboard a tiny ship for the Midwest Business Advisors and Investors organization (MBAI) on Lake Michigan. Mostly bankers on board, the four concluded, upon surveying the crowded boat cabin. No movie stars, no Mary Ann, no mighty sailin' man among them.
Quite a few self-professed investors who had recently begun conducting consulting transactions though, mused Angel Seraphim to himself.
Later, the four stood starboard side scarfing cream puffs and yaking about how few of the investors in the group were actively working deals.
"Who makes all the deals in this town?" asked Angel Gideon.
"You do Gideon." quipped Angels Tweedledum and Tweedledee.
"Who did you say?" asked Angel Gideon.
"YOU do Gideon! When do we get to make a deal? When do we get to do one, huh?" chattered Angels Tweedledum and Tweedledee, followed by a bout of hysterical laughter between them.
"A wise man once told me never underestimate the art of subtlety." Angel Seraphim said quietly.
"How is that young blonde protegee of yours doing lately, Seraphim?" retorted Angel Gideon. "What's her name...Melody?"
"I don't know what you're talking about." Angel Seraphim softly replied.
*****Across town Pam, the newest member of the counseling team at the Women's Business Advancement Center, twice-failed micro-business serial entrepreneur, and evangelist for small business owners, tossed aside the business plan pro-formas for "Melody's Deli" covered with Post-It Super Sticky Notes -- the post-its that hold stronger and longer and help you build your business! -- and began to get ready for her first evening out in months. Her date was attractive, slightly eccentric, and expensively attired. He had finally asked her out after all of these years. So he loved country music. Every man is allowed one flaw, right?
A DVD of "Forrest Gump" played as low decibel background noise in Pam's studio apartment. "Stupid is as stupid does!" "Run Forrest Run!"
And so as the world turns, the sands, the hourglass, our lives...
...Will Christine tell VP and PhD Dr. Raymond about last night's phone call...and DID IT REALLY HAPPEN?
...Will Angel Gideon and Angel Seraphim go head to head after their afternoon skirmish?
...Will Angels Tweedledee and Tweedledum refuse to return their Sierra Trading Post lifejackets after the MBAI boat cruise and walk around the office next week shouting "jump ship, jump ship?"
...Will Melody realize her business advisor, Pam, is also dating Tyler? Will she continue to blindly fund Tyler's business and personal agendas?
...Just who IS Investor Tom?
Be sure to tune in next week for As Entrepreneurs Churn!!!!
Are you a woman-led business with less than 50 employees who is interested in advertising sponsorship for As Entrepreneurs Churn? Do you have a product you would like us to write into our storyline? CLICK HERE for more information.
Wednesday, July 14, 2004
RE: re:invention's Garden Party for The Startup Garden Wrap-Up
Well my goodness. What a wonderful garden party today. A big thank you to Tom and each of you for joining us!
To quote Nik Rawlinson: "the only thing missing was a virtual pen to virtually sign the book."
The re:invention team encourages everyone to visit Tom's site to learn more about The Startup Garden. The book is no longer in print, but you can order it directly from 800-CEO-READ.
Be sure to check out the rest of Tom's Startup Garden Book Tour!
July 15th - The Entrepreneurial Mind
July 16th - Small Business Blog
July 19th - Small Business Trends
July 20th - Wantrepreneur
July 21st - Duct Tape Marketing
July 22nd - 800-CEO-READ
RE: We continue the Garden Party interview with Author Tom on his book tour...
If you are just joining us, we welcome you to re:invention's Garden Party with Tom Ehrenfeld, Author of The Startup Garden. This is the first stop on Tom's Business Blog Book Tour for The Startup Garden. Kirsten and Tom have just returned from a round of croquet. Tom kicked Kirsten's Southern Butt.
KCC: You play a mean round of croquet, Tom. But I mean that in a kind way.
TE: Thanks, Kirsten.
KCC: Let's get back to our interview. In your book,
The Startup Garden, you suggest that "capital raising should be an extending circle." Another metaphor! Tell me more.
TE: My point is that raising capital should be seen as a constant process that enables business owners to address, anticipate, and often solve challenges in the present and future. Nobody needs just one cash infusion; and the ability to raise capital often matters more than any one single stake (though that life-saving cash infusion counts for something...)
In that regard business owners should treat the process of seeking and raising capital with the same long-term and healthy outlook they would in securing any key resource for their venture. No solitary "no" should be seen as failure - and really must be viewed as an opportunity for growth and learning. And in fact, each successive step in the process of raising capital should help individuals get better at the process (i.e. get better at telling your story properly) and help you form productive relationships that may one day turn out to be invaluable.
To go back to Clearing the Hurdles...the authors point out that the genius behind entrepreneurial success resides in the ability to marshal the right forces to go from spotting an opportunity to converting this into a successful, sustainable, profitable venture. Great ideas are a tiny portion of the entrepreneurial process: understanding how to develop the right relationships, secure the right resources, and act so as to create value - that's the genius. Therefore the process of raising capital should be done with an eye towards inviting smart investors (angels, say, with key contacts, patient capital, and industry or technical savvy) that boosts your venture's potential.
So the extended circle means that you should use the process of asking investors for support as a way to engage them even if they don't pony up money. If you manage the process with smarts and etiquette, you will end up with something useful from it.
KCC: You also recommend seeding and growing your company with minimal capital. Hmm. Can you elaborate? Here at re:invention we have a saying, "finance for the company you want to become." Surely you are not implying bootstrapping without any safe capital cushion? Just how far will fumes let you scale?
TE: Oh no - not minimum capital by any means. You should garner the financial resources (like any resources) that get you where the company should be. And having too little cash is, ultimately, prescription for death.
But having too much capital can be a risk when the costs of acquiring or controlling those funds is not worth the benefits that come with the ride. There's a tax, a cost, a concession that comes with everything. I love my mother very much, and she's great with my kids, and they love hanging out with her, but when I ask her to help babysit, there's always some form of tax, whether on my time or emotions. There are hidden costs.
So ask yourself what you are giving up for the big cash infusion? A stake in the company? Commitments to regular interest repayments irrespective of current market conditions and hiccups in your venture's growth? (See: Goodfellas, the scene in which chief gangster Paulie becomes a partner in a Polynesian restaurant. Henry Hill defines the terms of the working agreement: "Now the guy's got to come up with Paulie's money every week. No matter what...Business is bad. F*** you, pay me. Oh, you had a fire? F*** you, pay me. The place got hit by lightning, huh? F*** you, pay me.")
Finally, and this goes back to the last question, the secret to right capital is the same as comedy: timing. Or, wait a second for me to pause before saying this. It's...timing. (I also like the old saying about comedy: there are three sure-fire rules to what makes something funny. The problem is that nobody knows what they are.) At any rate, because successful entrepreneurs mitigate risk, raising capital should take place in stages, with benchmarks to hit to qualify for more money. People should receive appropriate rewards for the risk they take, which differs along the path of a startup. Get enough capital to get you to the next phase successfully.
But never forget that the vast majority of startups fund their own growth! It's almost always better to be spending your time squeezing cash from a happy customer than selling the story of your company to a banker or investor. Never get confused. You want the great financial operational profits of your company to lure investors. Having millions of dollars invested in your promising company doesn't guarantee a single customer.
KCC: Makes sense, Tom. Reminds me of Carol Nichols, Co-Founder of the Texas Women's Venture Fund and SVP of Small Business Banking for Bank of America. As a wise woman with deep pockets at her discretion, Carol advises entrepreneurs that there is a big difference between investors and banks giving a gift (giving money to someone without a plan and an unproven business concept), placing a bet (giving money to someone with a plan and a good idea but no customers), making an investment (giving money to someone with a plan, new concept, and a few initial customers), or offering a smart loan (giving a 4% interest loan to a 2 year old business with 20 customers that is aggressively scaling to grow). Ain't alot of hope for entrepreneurs who are looking for a gift or a bet.
On a final note, I found 3 lines more resonant than any other lines in your book: "Business is about doing right by the customer...your business partners...your vendors...your advisors...your employees. If you do right by them, your business will flourish. If you don't, your business won't." It's simple karmic math, right?
TE: Yes. There are more important things in life than business. Obviously I care about this game quite a lot...
KCC: Well my goodness. What a wonderful party. Thank you for joining me today, Tom. Such a well-mannered gentleman, well, minus that little f*** word. To quote Nik Rawlinson: "the only thing missing was a virtual pen to virtually sign the book."
The re:invention team encourages everyone to visit Tom's site to learn more about The Startup Garden. The book is no longer in print, but you can order it directly from
800-CEO-READ.
RE: And the interview with Author Tom begins...
If you are just joining us, we welcome you to re:invention's Garden Party with Tom Ehrenfeld, Author of The Startup Garden. This is the first stop on Tom's Business Blog Book Tour for The Startup Garden.
Please CLICK HERE to read our first entry today for an overview of today's Garden Party.
*****Kirsten: Hello Tom, welcome to our little Garden Party! I'm very glad to host you today for the kickoff of your book tour for
The Start-Up Garden.
Tom aka "TE": Hello Kirsten, or should I say "Kinda Cool Chick." Thanks for hosting me on re:invention's blog today.
Kirsten aka "KCC": Probably no surprise that I have to lead with a question about women. In your opinion, Tom, what are some of the differences between male and female entrepreneur start-ups?
TE: As the father of two daughters, a guy who has spent literally days of his life in day care centers observing and tending to toddlers, and who has spent six years as a director of my kid's school, I will say today that there really are gender differences that I wouldn't care to acknowledge 15 years ago.
Perhaps it is better to ask the question: does the perception that men are better suited to be successful entrepreneurs (because they like risk, are bolder in action, blablabla) become somewhat of a self-fulfilling prophecy? I suggest absolutely. Any individual with an advantage in terms of securing capital, gaining access to key technologies or changes in legislation or market, or better ties to the power networks, enjoys a tremendous head start in launching a successful venture. And the perceptions and current state of affairs in these regards are still tilted towards men.
Let me quote a lengthy passage from a new book that I find to be the very best ever written on the topic of women and entrepreneurship: Clearing the Hurdles - Women Building High-Growth Businesses by Candida Brush, Nancy M. Carter, Elizabeth Gatewood, Patricia G. Greene, and Myra M. Hart - just published by Financial Times/Prentice Hall.
"What was surprising in our investigation? We found that the hurdles that women must clear are just as real for men who choose entrepreneurship. Every single individual or team that decides to create a new venture must have the motivation and commitment to stick with the enterprise throughout years of challenges. Entrepreneurs must be technically capable and management savvy. They all need to build resources for the enterprise - often seeming to create something out of nothing. Successful entrepreneurs must start out with good ideas that are actually feasible and for which there is (and soon will be) a ready market. If their business concepts are not scalable, they will never be able to achieve high growth and high value status, although they might be able to successfully run smaller, local enterprises. We found that networks and the social capital to use them effectively made the process of building financial, human and technological resources possible.
Women need all these skills and yes, so do men. The differences we have found were not in the skills required, nor in the organization-building processes. However, we found that that the personal resources, the technical training, and the management experience that women brought to their enterprises differed from their male counterparts' resources - as did the attitudes and expectations about entrepreneurial success held by both women and society as a whole."
KCC: In light of re:invention's recent Venture Funding for Women Entrepreneurs report, conducted jointly with Growthink Research, a leading venture research firm in Los Angeles, I took particular note of your chapters, The Numbers that Count and Bootstrapping. You talk about financial literacy (income statements, balance sheets and cash flow)...and then suggest that cash flow is the single most important financial factor for entrepreneurs. Can you share more of your perspective on capital raising, equity financing, and financial health
TE: While it takes many things to go right for a company to succeed, any single factor can cause it to tank. And the most important fault is running out of cash. Cash flow matters more than any other number in the short term because if you run out of cash on hand you can't pay your bills and your company flops. This lesson would be academic if it didn't crunch so very many companies, and so many smart entrepreneurs who one day wake up to encounter an unexpected array of circumstances that have led them empty-handed (empty-accounted) on payday or repayment day or so forth.
So cash flow should be tracked literally on a daily basis. What's in the bank, what is coming in, what checks absolutely need to be paid, how do we expect to do so, etc. Mastery and mindfulness in this realm pays disproportionate dividends - you create a better credit rating, credibility, and are naturally more engaged in the nitty-gritty details of your business and your customers.
KCC: Well, Tom. Why don't we take a little break and play a quick round of croquet!
TE: If you insist...
RE: Our summer garden party guests begin to arrive....
Pleased as punch (pardon my southern gal drawl) to welcome Tom Ehrenfeld to the first stop on his Book Blogging Tour for The Startup Garden. Many thanks to Todd S. for the warm invitation. To launch today's book tour, re:invention's blog is throwing a Summer Garden Party and conducting our own mini-interview with Tom (a former writer/reporter for Inc. and Harvard Business Review). A big thanks to Tony J. for helping us with the party decorations!
Now I was giddy when The Startup Garden arrived in the mail. I immediately turned to the table of contents. To my surprise, there was absolutely zero Martha Stewart-like advice about composting, correcting iron deficiencies in azaleas, or mulching. How was this book going to help me plan my August gardening chores, I thought to myself. After I recovered from my initial disappointment, I realized Tom was using a garden METAPHOR for emerging businesses. So I settled in for a good read. 
What You Will Find In Tom's Book:
Chapter 1: Finding Your Calling - the seed
Chapter 2: Planning as Learning - fecund
Chapter 3: The Numbers That Count - plotting growth
Chapter 4: Bootstrapping - nourishing and feeding plants
Chapter 5: Walking the Line - HR needs as your venture grows
Chapter 6: Just Managing - becoming an actualized gardener
Chapter 7: Perpetual Learning - plant pruning and future growth
The Startup Garden is an easy to read, engaging book with an exhaustive list of resources at the end of each chapter for micro-business entrepreneurs.
Our guests seem to be arriving.....Oh Yvonne I ADORE your hat! Be careful not to chip one of my delicate teacups, Jeffrey. Do help yourselves to one of our delightful cucumber cream cheese finger sandwiches, Michelle and Toby.
And let's settle on in for our interview!
Tuesday, July 13, 2004
RE: A Garden Party Reminder!!!!!
Tomorrow re:invention's blog will kick off the popular Business Blog Book Tour for an excellent book, The Startup Garden. We will be posting an interview with the author, Tom Ehrenfeld, about women entrepreneurs, bootstrapping and capital raising.
We cordially invite you to join us tomorrow morning for a "little garden party!" Wear your finest garden party attire (ladies, don your finest Kentucky Derby style millinery and gentleman -- no Levis!)
RE: small business optimism index record high + a new West Coast Office
The National Federation of Independent Business, the nation's largest small business advocacy group, announced today that its monthly small business optimism index reached 103, a record in the survey's 18-year history. Nearly one-quarter of all businesses surveyed reported higher profits. The only sour note? The number of businesses expecting to expand in the next six months was 4 percentage points lower than May's survey.
It's been a challenging first year and a half for re:invention -- both good and bad -- great client successes, penniless moments, unreturned acts of kindness, and pillar of strength support from unexpected sources.
It is with great excitement, therefore, that I am "pre-announcing" breaking news today. In standard re:invention form, we are bucking the curve. We will formally announce re:invention's expansion and the opening of our second office -- on the West Coast -- later this week.
As an entrepreneur one of your biggest challenges is learning how to straddle struggles and triumphs.
Seeking beat the odds inspiration? Walt Disney went broke several times and had a nervous breakdown before he became successful. CLICK HERE for a list of Walt's famous setbacks from Stephen Schochet, author and narrator of the audiobooks "Fascinating Walt Disney" and "Tales Of Hollywood". A few examples:
1. Walt formed his first animation company in Kansas City in 1921. He made a deal with a distribution company to ship his cartoons and get paid six months down the road. Flushed with success, he raised costs and then the distributor unexpectedly went bankrupt. He was unable to pay his rent, forced to live on dog food, and dissolved his company.
2. When Walt tried to get MGM studios to distribute Mickey Mouse in 1927 he was told that the idea would never work-- a giant mouse on the screen would terrify women.
3. The Three Little Pigs was rejected by distributors in 1933 because it only had four characters.
and my personal favorite....
4. For the premiere of Pinocchio, Walt hired 11 midgets, dressed them up like the little puppet and put them on top of Radio City Music Hall in New York with a full day's supply of food and wine. The idea was they would wave hello to the little children entering into the theater. By the middle of the hot afternoon, there were 11 drunken naked midgets running around the top of the marquee, screaming obscenities at the crowd below. The most embarrassed people were the police who had to climb up ladders and take the little fellows off in pillowcases.
"Many fail because they quit too soon. They lose faith when the signs are against them. They do not have the courage to hold on, to keep fighting in spite of that which seems insurmountable." - Dr. C. E. Welch
Monday, July 12, 2004
RE: public humiliation of those that have burned you...men behaving badly
Ahh the power of the written word in media! Appears to be a new trend of resorting in a very public way to humiliation of those that have burned you. News this past week of a very angry managing editor who slipped his resignation into the Life column of the Lerner Community Newspaper, distributed in Chicago's northern suburbs. Managing editor Joe Giuliani not only resigned in print, but also went on a written tirade against his boss, whom he identifies only as "Ed."
Giuliani began his column with: "Dear Ed, This is my letter of resignation...I have never broken up with someone through a letter, but I feel that since our boss-employee relationship has deteriorated to almost zero communication, why start talking now?"
Other snippets in the column?
"You took away the pay increase you had promised me back in January 2003 when you promoted me from reporter to editor."
"You told me I was wrong to have trusted you, and that I should have made you put the pay increase in writing."
"It's not only the money. It's the favoritism flooding this office that I also cannot deal with anymore."
CLICK HERE to read the Chicago Tribune story.
As a PR and marketing professional, I know that there are times when every ounce of your being begs for you to reveal a person's lack of integrity to protect others from falling prey and for your own just satisfaction. But in the end, I wonder if it is perhaps better to take the high road and let the person's failings and lack of character result in their own inevitable undoing?
Something I am musing over today, that's for sure.
P.S. This Wednesday, July 14th, re:invention's blog will kick off the popular Business Blog Book Tour for an excellent book, The Startup Garden. We will be posting an interview with the author, Tom Ehrenfeld, about women entrepreneurs, bootstrapping and capital raising. We cordially invite you to join us this Wednesday for a "little garden party!"
Friday, July 09, 2004
RE: As Entrepreneurs Churn - The Premiere of A Limited Time Run Friday Blog Soap Opera
The PLACE: Chicago
The TIME: Present Day, Today
Today's SOAP SPONSOR: Wild Woman Designs, LLC. Understanding Graphics Is Key To Great Marketing.
We JOIN our Cast of Characters Already in Progress...
Click HERE to review our Cast of Characters.
Christine text-messaged Vice President Dr. Raymond from her Treo:
"My office...now."
AACK Bio-Technologies Vice President Dr. Raymond turned from his Toshiba Satellite Notebook P15-S409 computer screen, slowly rose from his chair, and walked 200 steps north to face Christine. Christine, founder and power-hungry President of AACK Bio-Technologies, stood before her desk, slightly disheveled with flushed cheeks from her 8 hour flight and her hour-long insidious hunt for a parking spot upon her return. Her shoes: discount Michael Kors, from www.Vivre.com.
"I haven't seen you in a week and all I could think about was being with you," said Christine. "How about a quickie, here in the office." She reached her right arm around Dr. Raymond's waist and pulled him to her. Her left hand reached to close the door.
"The reporter from Hoist called. You don't think she knows that we're married, do you? Our meeting with the COO from Treecor is in half an hour. The check Investor Tom promised still hasn't been cut. You are clearly oversexed, Christine. You have a strict five minutes floor time at the tech advisory council event this afternoon. Your Young Presidents Forum Group meeting tomorrow apparently conflicts with your business lunch. Oh -- and the server is down again."
"Damn," said Christine, as she pushed the door back open. "Let's put this on ice."
*****Across Chicago in a convertible incubator space on Canal Street, Brad, Tyler, and Jim (near lifers in the industry in their late 30s, clinging tooth and nail post high flying I-Street days, now crammed into a single shared bare office space cubicle) were busy recapping the previous night's Midwest Entrepreneur Networking Event.
"You saw her skirt, right. It was short. I mean short. Could you hit that?" Brad asked, re-tucking his shirt into his snug trousers over his under-exercised beer gut.
"I could hit that." Tyler offered smoothly.
"Doubtful," Jim countered.
"If someone asks you if you are a god, you say yes, right? I read that once, in the Fanny Fay Report." shrugged Brad.
"What about Melody?" Jim asked, nearly revealing his good boy tendencies.
"Melody who?" said Tyler, in reference to his flavor of the week girlfriend. "She's a nice girl, but..."
*****The four angels left in town made a habit of meeting for breakfast at Sue Winchell's Restaurant every Friday morning to boast about who would fare better at being a real honest to goodness venture capitalist. This morning was unremarkable; dispassionate conversation over sunny eggs and frys. A minor scuffle over contract and grant agency funding. A noted discussion about "brain spas" and
the Defense Advanced Research Projects Agency (DARPA). A well-known developer and Commissioner took pause at their table to comment on the weather (slightly cold, windy).
"We may be doing more investing in the next few weeks," said Angel Gideon.
"What's the scope of the deal?" the developer asked.
"It has also been unseasonably rainy lately, hasn't it?" Angel Gideon replied.
Aging Angel Seraphim spent breakfast silently musing about his planned rendevous with his blonde, buxom twenty-something year old mistress, Melody, later that evening. He had spent their last night together explaining the political interworkings of Chicago, remedial of course so that she would be able to follow along, purely for her entertainment. It had made him feel like a kind and benevolent ruler when she had appeared genuinely interested in his stories.
Angels Tweedledee and Tweedledum wrestled with the $20 and some odd change they were able to scrounge up between the two of them to clear the check.
*****Somewhere along Michigan Avenue, a blonde, buxom twenty-something year old woman sat at a conference room table across from Pam, twice-failed micro-business serial entrepreneur and a new addition to the team business counselor at the Women's Business Advancement Center. The cool blonde pulled a lock of her hair back behind her ear, leaned forward in her chair, and impassively noted, "The outsourcing advantage is clearly annotated in my Melody's Deli business plan pro formas..."
And so as the world turns, the sands, the hourglass, our lives...
...Will Christine and Raymond's marriage become public fodder as their business growth catapults them towards media frenzy?
...Will Angel Gideon and Tyler ever meet and realize they are both bedding Melody?
...Will Tweedledee and Tweedledum find their way home after breakfast?
...Will big boy Brad scarf down 2 or 3
Potbelly Wreck sandwiches at lunch?
...Could Melody really be evil twin Melinda plotting the secret launch of her own company?
...Will Pam secretly undermine the plans for Melody's Deli out of sheer jealousy or become her protege's closest confidante?
Be sure to tune in next week for
As Entrepreneurs Churn!!!!Are you a woman-led business with less than 50 employees who is interested in advertising sponsorship for As Entrepreneurs Churn? Do you have a product you would like us to write into our storyline?
CLICK HERE for more information.
Tuesday, July 06, 2004
RE: The Stevie Awards for Women Entrepreneurs deadline extended
During a meeting this past week with the Chicago NAWBO Public Relations committee, I expressed passion for publishing a pending business awards calendar for our members, with best practice tips for writing business award nominations. Business awards add credibility, boost profits, and build awareness with potential customers and media. As I wait patiently for NAWBO to approve my recommendation, I've decided to do my part here on re:invention's blog.
The Stevie Awards for Women Entrepreneurs have extended their deadline until July 31st. The New York Post calls the Stevies "the business world's own Oscar Awards." Among this first year's distinguished judges: Terry Neese (President & CEO, Women Impacting Public Policy), Dr. Martha Rogers (Partner, Peppers and Rogers Group), Patty Abramson (Managing Director, Women's Growth Capital Fund), Marsha Firestone (President, Women Presidents' Organization), and Anne Holland (Publisher and Managing Editor, MarketingSherpa). Award categories include Best Services Company, Best Non-Services Company, Best Young Entrepreneur, Mentor of the Year, Best New Company of the Year and many more. Oh -- they also have a Woman Helping Women Award. That's my little pipedream for re:invention.
Pass along the word to women who deserve the recognition! Click HERE for more info.
Other Awards With Looming Deadlines?
- Wall Street Journal's 50 Women To Watch (send a 500 word nomination and bio)
- Cineme International Animation Festival for Website Animation
- Information Security Executive of the Year
- The 2004 WebAward Competition
- The P.R. News P.R. People Awards
Some quick tips for Award Nominations:
1. Assume readers have no knowledge about the person, project or business you are nominating.
2. Provide enough detail (titles, key achievements, dazzling bio, prior awards) to help judges or awards committees see why you've chosen to nominate a person or business.
3. Organize your nomination so that it is easy for awards committees and judges to understand.
4. Avoid wordiness and redundancy - quality of endorsement counts more than length. Be concise, specific, and concrete.
5. Steer clear of acronyms and jargon.
6. Use statistics, examples and anecdotes to paint an authentic picture of the person or business you are nominating.
7. Be sure you have responded to all the criteria included in the nomination guidelines and that the person or business you are nominating meets those criteria.
8. Submit the nomination on or before the deadline.
9. Be unabashed. Write your own nomination and share it with your friends and advisors, soliciting them to nominate you or your business. Offer your written nomination as a friendly first draft, encourage them to revise it in their own words, and thank them profusely and genuinely for their support. If you never ask, you will never get.
10. Remember to give what you get. In return for someone's nomination for you or your business, write one for them.
Sunday, July 04, 2004
RE: unsung early American woman hero earns a "Kinda Cool Chick Award" on July 4th
A woman will fight fiercely for someone and something she loves.
During the Battle of Monmouth, the longest battle of the American Revolution, American and British forces clashed under the direction of Continental Army General George Washington and British General Sir Henry Clinton. The battle was fought on a searing hot day, and the soldiers were exhausted, thirsty, and wounded. Throughout the day-- amidst the smoke, fire, and fighting-- a private's young wife, Mrs. John Hays, carried water in a pitcher back and forth from a well to her husband and the artillery gunners. She earned the nickname Molly Pitcher as her striped skirt danced across the battlefield.
An early entrepreneur with a commitment to civic duty.
During the midst of the battle, Molly's husband fell wounded. Molly grabbed a rammer and kept the gun firing for the remainder of the battle. It was the second time a woman manned a gun on an American battlefield (the first was Margaret Corbin during the defense of Fort Washington in 1776). General Washington issued Molly a warrant as a noncommissioned officer as part of the Act of the Pennsylvania Legislature. She lived to the ripe old age of 78.
Molly Pitcher -- a woman who truly deserves the "Kinda Cool Chick Award." Happy July 4th everybody. May the fireworks in your life be delightful, spirited and poignant and never too fierce for you to bear.
Thursday, July 01, 2004
RE: Dirty "F" words - Financial risk-taking, Fearless women, Funny stats, and Flippy hair
The Center for Women's Business Research announced new research yesterday. A study evaluating women entrepreneurs, financial risk taking, and growth orientation. Half of the women entrepreneurs (57%) surveyed indicated they were willing to take above average or substantial financial risks, compared to just 14% of all women and 26% of all men who participated in the 2001 Survey of Consumer Finances conducted by the Federal Reserve.
A 43% increase in women entrepreneurs who indicated they were willing to take above average or substantial financial risks. Hmm. Funny stats.
In order to maximize the reach to women business owners who were seeking or had sought capital to grow their business, the study sample only included 368 women business owners "drawn from the networks of Springboard Enterprises, Women's Leadership Exchange, and the Women Presidents' Organization." 60% of those women surveyed in the study were actively seeking capital, preparing to seek capital or had sought capital to expand their current business in the past. Kudos for an integrative effort by all 4 organizations which adds legitimacy and a feeling of collaboration to the study. But even The Center for Women's Business Research admits that it is not representative of the national population of women business owners. The women surveyed in the study are indeed those women who are more likely to be fearless risk takers. The study also doesn't consider dramatic differences between women entrepreneurs in 2001 and women entrepreneurs in 2003.
In spite of this, the survey is still good news. Most past studies and articles focused on the "negative" aspects of women and their share of VC funding. With the release of our recent Venture Funding for Women Entrepreneurs report, re:invention and Growthink tried to focus the media on the opportunities before us. The time is now to share positive news for women. I sounded my call to action in our Inc. Magazine article: "Instead of bemoaning findings in this new report as yet another blow to women, we should be asking what can we do and where do we go from here? We need to cultivate programs that help venture capitalists scale their business models and identify new high potential women entrepreneurs, as well as encourage, support, and promote visibility of women entrepreneurs in their attempts to stand out when raising start-up capital." And ever since -- from this new survey to the Fortune Small Business Magazine "Why Women Rule" article out this week -- it seems that media mavens are focusing on the positive.
Here's to hoping that there will be many more fearless females in the future. Finance for the company you want to become.
And on a final note, from the archives of re:invention -- you may recall that I was interviewed back in April by talented writer Donna Bosso of the Chicago Tribune for an article about the depiction of women on the show "The Apprentice," only to be "fired before making it to print." AKA -- no article mention. So it's only fitting we help break the blogging world news that Donald Trump is launching a magazine this September. READ MORE HERE. Flippy hair suits Trump, soon to be magazine mogul.
Click on the badge above to learn more. On Saturdays, we showcase wise women entrepreneurs. SHARE your 10 tips!
