The Women Entrepreneurs Blog @ Simon

Tip of the Week: Bad Timing? Bad Excuse.

By Elisabeth Hager

“Do you have your business card?” A simple request can be difficult to answer to if unprepared.

I was at the gym, working out to my normal routine, when I suddenly bumped into an important lead I'd been chasing for months.

No way was I about to let a chance to finally connect with this person pass me by. Don’t laugh—I actually pulled out a card from my pants pocket.

The frustration brought about by missed opportunities taught me the significance of having my business cards on me at all times. I carry them in my purse, gym bag, briefcase, computer case, and car; I even keep a card or two in my pocket so that when that serendipitous moment occurs, I’m ready.

Understanding Social Media: It's Not about B2B or B2C, It's About H2H

I'm questioned all the time on the usefulness or value of social media. Busy professionals don't have time for all this blogging, and tweeting, and keeping up with Facebook or LinkedIn. Do they?

Often, my answer is to ask a few questions. Like, "Do you read industry publications?" The answer is usually, "Yes." Well, most of them are using these tools.

Sometimes I ask, "Do you attend conferences?" They nod. "Well," I say, "you can keep up with your conferences without ever attending them...just by using Twitter. Your colleagues at the conference will Twitter the important parts for you." NOTE: social media is not a replacement for face-2-face at conferences. But, when you can't be there, it's a great way to feel a part of the event. 

And, I often ask, "Isn't it part of your role - as an executive in your company - to understand new technology? How do you understand new technology if you don't use it, just a little?"

Well, the standard reply from these busy professionals, is, "Well, all that social stuff is for B2C, and we're B2B...so, we don't need it."

Luckily for me, I'm connected to other people who have to address this issue all the time, also. And, sometimes, one of them comes up with a better answer than I've come up with. Francios over at Emergence Marketing, a blog worth your time, has a great post on this issue and his answer is: It's not about B2B or B2C. It's about... human to human, or H2H.

Read his post. He explains the human factor well, in just a few paragraphs. Everything we do, as business professionals, is human to human, if you think about it. So, being able to do it better, in real time, in a community setting - is a good thing. Well, if you are interested in conversing with your fellow professionals, and in meeting new ones.

If not, okay. I understand. Stand outside the auditorium and wait for some of us to come out. If we notice you there, we'll invite you to lunch. Did I mention that we'll probably Twitter at the restaurant?

Networking: How Far is Too Far?

“It’s all about networking,” or so I’ve heard.

...Doesn’t sound like too difficult of a task, especially with the help of the Internet and its virtually boundless capacity. By now, we are more than aware of the extent of its content and deliverables; from news articles to weather forecasts, novels to dictionaries, music to movies, and cars to real estate. Information is abundant, no matter the subject, and any product on the market is easily obtainable, regardless of its alleged scarcity.

Access to these commodities is practically ubiquitous, and with the growing number of social networking sites, the distinction between individuals and commodities is starting to blur. Company websites supply information about products, and networking sites provide that same function about people.

As technology pushes forward, where do we draw the line, and how do we prevent ourselves from crossing it? People are the driving force behind technology – but where are we trying to go?

For years, cell phones have connected us on the move and email has linked us online while stationed at computers; it wasn’t long ago that these two methods of communication conjoined in the form of PDAs and smart phones. There’s no escaping from the Internet – you literally carry it in your purse. 

Do we have to be in contact with people 24/7, and is absolute availability really necessary? Are daily details of an individual’s routine, schedule or whereabouts to be considered on the same plane as specs for the new laptop you’re contemplating on Amazon?

So quickly have we become consumed in the power of this fast-paced medium that we forget to stop, look at ourselves and those around us, and realize that we still need to come up for air. Everyday, walls are broken down as our personal lives transform into a sequence of bytes and pixels for the world to see.

Procuring that hard-to-find first edition Batman comic is one thing; tracking down the president of Google or stalking a celebrity crush is another. Be gentle- we are dealing with human beings, not toys or comic books! The fact that we are as accessible as objects does not give us license to treat each other as such.

Don’t get me wrong, I am not against social networking. It's fun and beneficial. Networking and relationship building are common goals in the business world, and networking sites support and aid numerous business objectives.

Additionally, entrepreneurs require a means to sell themselves as well as their product, and platforms such as Facebook, LinkedIn, and Twitter can promote their branding process. Online applications offer an inexpensive, convenient, and efficient solution for reaching and communicating with consumers.

Use networking sites to your advantage, but as with any tool, exercise common sense and moderation.

Some basic standards to think about:

• Be honest about yourself, your experience, and your capabilities. Do not use the computer as a façade to hide behind. (Pretending can be simple when not looking your contact in the eye.) Each one of us is unique, and for what it’s worth, there's a real, live person on the corresponding compu-pd-smart-book-techno-lytic devise (or whatever the gadget’s called when you’re reading this) who probably appreciates sincerity.

• Don't underestimate the strength of exhibiting respect and courteous behavior. When sending a friendship invitation or message, be careful not to come off as opportunistic, even if your purpose is self-serving. Play it cool. 8-)

• Ppl are busy. 2 many emails 4 long responses 2 every1. Don't be offended. Also remember that not everyone wants to talk to everyone all the time, so refrain from acting overly aggressive. (*note the away message*)

• Ignore gossip – not everything you read online is true, and avoid engaging in chatter – malicious or innocent, rumors can hurt others and will ultimately disrupt your credibility.

• Networking is not only about numbers. In relationship building, quality can be just as, or more, important than quantity. Show people that you value them, and they will likely reciprocate. This may involve signing offline and convening in the flesh; computer conversations can dilute intimacy.

The Internet enables us to accomplish many things once deemed impossible and to meet people we would have never had the opportunity to know otherwise. It can facilitate our success in business and in life. However, there is only so much we can achieve with it – it comes down to who the user is. On that account, be thoughtful, cautious and continue to make good choices in whatever you do and however you do it.

Tip of the Week: It's Just an Idea

by Suzanne Clarridge

While an idea is the premise of a business, actually starting a venture takes more than imagination.

An idea is intangible and has little value standing alone.

Bringing an idea to life requires hard work and commitment. It is execution, persistence, evolution, and adaptation that ultimately determines a company's success and survival.

Great business ideas are far easier to come by than great businesses.

Relish the Negative Comments

As a business owner it is very important to take joy in learning about a customer's problem. It is a blessing when a customer brings a bad experience he or she has had to your attention because it gives you the chance to turn the situation around.

Every customer who comes through your doors is going to tell a story about your business, and it is up to you to make sure that they have a good story to tell to other people who may be potential customers.

When a customer comes to you with a problem, it is crucial to respond immediately and decisively. Imagine that you are in the customers position, and think of how he or she must be feeling. You must listen to the customer's story before talking with any employee involved in the problem. The employee's view will likely be defensive, which is perfectly natural, but it will not help you or the customer at that time.

Certainly listen the employee, but only after you have responded to the customer.

If a customer had an unpleasant experience and has let you know about it, he or she is likely to spread the word to other customers, or potential customers, as well. There are two ways customers can go out and tell people: they can complain about their experiences, saying, “So much for that company's reputation," or they can pass on the good derived from it, explaining, “Well, I had one issue but the owner was right there to make sure it was taken care of. It's amazing how quickly it was able to be resolved.”  

One time, for example, a few customers brought in a Subaru that they bought from us for its first oil change. We changed the oil and sent them on their way. Several miles from the dealership, the car ran out of oil. We towed it back in and began running tests on the car to diagnose the problem.

I went to greet the customers while they were waiting for their car. I could see they were nervous, so I asked what they were concerned about. It turned out that they were planning on keeping the car for quite awhile, and they were worried about the long term effects of running the engine with little to no oil pressure - even for that short amount of time.

I told them not to worry and that we would just get them a new car. Not only was it the right thing to do for the customers, but it also helped our company image by putting the customers in a position where they would tell their good story to others: While they may have had a problem, it was taken care of and their concerns eased.

It was a decisive action, and it was taken care of right there on the spot.

An important part of growing your business, establishing a solid brand, and creating positive buzz is making sure that you have kindhearted employees. Your employees represent you and your business. Kindness cannot necessarily be taught, but is something that comes from within. By hiring kindhearted people, your employees will be concerned about your customers.

Make-over Your Mind, Body, and Bank Account

Flowers are blooming, birds are chirping, and the sun is shining brighter day by day. Are you smiling yet? I doubt it. You’re probably rolling your eyes at the computer screen and wondering what kind of happy pills I am on.

If this is the case, you are in desperate need of a Spring makeover, so tune in to shape up!

1) Cash in on fashion: Take closet cleaning to a new level by selling the clothes you (and your family) don’t wear anymore. If you have a teenager or are a teenager yourself, I recommend visiting the nearest Plato’s Closet, a popular fashion franchise that “buys and sells brand name, gently used clothing.”

One person’s trash is another’s treasure. It sounds cliché, but consignment store owners are constantly on the lookout for unique apparel that can be recycled and reused by their customers.

Second-hand boutiques exist in virtually every city and allow for a guilt-free shopping experience. They are eco-friendly and a great way to save money. Not only will you come across unbelievable deals on designer items, but also you might be able to snag some one-of-a-kind vintage pieces that cannot be found elsewhere.

The downside? There is none! You will not leave the store empty-handed, whether you are walking out with extra cash or “free” clothes. Furthermore, waking up and choosing an outfit from a neat and roomy closet will keep you organized and in control of your life.

2) Put on your game face: In order to fully enjoy and get the most out a social event, it is important to be happy and feel good about yourself before inflicting your mood onto others. People are drawn to women with confidence and positive self-images.

So, next time you plan on attending a party, going out for dinner, or spending a night on the town and are desperate for a quick fix-me-up, set aside a few hours on the day of to prepare appropriately. Shower and do your hair and nails. Then grab a girlfriend, drive to a department store at the mall, and head straight to your favorite cosmetic counter.

Tell the make-up specialist you are interested in revamping your look, and ask her for guidance in doing so. Testing products on your skin, she will use her expertise and talent to work with you until your desired appearance is achieved.

While getting your make-up professionally done at the mall is a cheap way to look and feel fantastic, it could potentially cause a problem for the babe on a budget. You are not required to purchase anything, but you will love the results and might have trouble resisting the urge to buy. Personally, I am more inclined and willing to spend money when I am gratified, and trust me, those make-up artists know how to please!

3) Shift gears and pass on the gas: Take advantage of a free ride, and weather permitting, walk or bike to work instead of driving. You do not have to pay for gas, and you will never be stuck in traffic.

Walking or biking to work is beneficial for your body and mind as well. Exercising releases endorphins and is a terrific motivating agent and start to the day. It is also a means to relieve stress and generate blood circulation after hours of sitting in the office.

For those living far away from their place of employment, I suggest inquiring into alternative methods of transportation. You will save money and the planet by carpooling or catching a train/bus to the city. Remember to get outdoors and work out, though.

You can be even thriftier by nixing a gym membership altogether, but you already knew that.

Technical Skills Are Overrated

  I know, I am always talking about my experiences with the school magazine, but running this small publication has taught me so much. And yes, I am about to share with you another one of the lessons I learned.

It was really Dennis’ post that got me thinking. He advised that an entrepreneur should “hire the right people”. Hmmm… what are the right people???

Before I came to business school, I thought hiring the right people meant hiring persons who had the right technical skills to accomplish the job. A few business classes and several magazine productions later, I am very sure this is not all it takes.

On the quest for a new employee, it is true that you want someone who has the technical ability required for the job. However, I’ve found that this alone is a poor basis for hiring. I’ve discovered that one's inherent characteristics, such as passion, reliability and the commitment to producing quality work, ultimately outweigh a seemingly perfect resume or list of acquired skills. (Though I must admit that the trade-off is harder the more high tech your business is.)

While people with such characteristics might not have the complete set of ideal skills you’re looking for, they’re willing to learn what they need to know in order to complete the job on a high quality level.

They care about what they produce and demand excellence of themselves in all tasks undertaken. If they say they’re going to do something, you can expect it will be done by the specified deadline. A big bonus is that driven and eager people tend to be highly ethical.

On the flip side, consider the person who has all the ability in the world but lacks that zeal; he/she is unreliable and cares about doing what needs to be done to a “satisfactory” level.

This person has ability but is not utilizing it to his or her full potential. By employing apathetic people, you waste time and energy motivating them to produce results.

Furthermore, such people are toxic to a team, especially when other team members take pride in their work, and these people are just scraping by on “satisfactory”.

The advice of this humble business school magazine editor?

Don’t only look at skill sets. Balance out your hiring standards, and consider peoples' personalities. Make sure they are intellectually competent. If they are, they can most likely be trained in the areas that need improvement.

And if they truly embody the qualities I mentioned earlier, they will approach that training with fervor and produce excellent results. We like excellent results, right?

You Don't Have to Be a Green Gazelle to Go Green

Increasing energy efficiency is a win-win for American businesses. Lower energy costs lead to more profits and greater efficiencies help to protect the environment. Nationally, small businesses spend more than $60 billion on energy each year. With minor investments and a green strategy, small businesses can cut utility costs 10-20% without sacrificing service, quality, style or comfort.

You don't have to be a green gazelle to contribute to the greening of our economy or society.  More than likely, you merely want to operate efficiently and save money. "Going Green" is one strategy to get there.  

First,  you don't have to go it (green) alone. The Federal Government has a variety of resources to assist you.   Check out Department of Energy's "Energy Savers" Website. A resource fo energy saving tips and strategies not only for your business but also your home.  Join the Energy Star Program, which is supported by both US Environmental Protection Agency and US Department of Energy, and develop an entire energy management system within your business.  These are a just a couple of the growing number of supports for business owners on the road to Green.       

Additionally, there are resources to help you execute your Green. The US Small Business Administration has financing programs to help accomplish your goals.  Under the American Recovery and Reinvestment Act of 2009, Department of Energy was given funding to jump start the green movement in our economy. A local resource for these funding opportunities is NYSERDA

In the wake of Earth Day 2009 it is important to remember that Every Day is Earth Day for many small businesses. Can it be for you?

*SBA's participation in this blog does not constitute an endorsement of the William E. Simon Graduate School of Business Administration or any other person or entity.  SBA's programs are provided to the public on a non-discriminatory basis.

Tip of the Week: Reducing Your Environmental Impact Makes Good Business Sense

There are many ways businesses can demonstrate a commitment to the environment and promote better use of resources to employees, vendors and even clients. There are probably employees in your company who have a strong interest in creating a “greener” workplace. Working with these employees to effectively apply their time and talent on a strategic environmental effort can not only build a renewed focus on the economic bottom line for your company, but also improve the environmental bottom line to make the community a better place to live and work.  

Empowering employees to apply their ideas to everyday improvements at work can help build camaraderie and a strong “can do” approach to the culture of your company. Dixon Schwabl and its employee-led “Green Team” has grown from a handful of employees into a 12-person team dedicated to changing the way the agency approaches day-to-day activities.

All Dixon Schwabl, employees are encouraged to submit their green ideas through the Dixon Schwabl intranet. Our agency replaced the power strips with "smart strips" and is conducting an energy audit with an outside vendor to conserve energy.  We offer organic fruit or fresh-baked cookies to eliminate snack waste at meetings, and encourage use of the new Dixon Schwabl compost system.  Our printers and copiers use 100% FSC-certified paper, and all printers print double-sided.  At Dixon Schwabl, we believe that with an innovative approach, any company can go green!  Encouraging employees to participate or even lead the process is a great way to make it happen!