The Women Entrepreneurs Blog @ Simon

A Kindergarten Business Education

by Judy Seil

As we start the new year, let's remember that what we learned in kindergarten still applies in the business world (with some added advice):

Share everything. Your knowledge and experience can be helpful to an intern or newbie at the company. The more you give and share, the more you get in return.

Play fair. Honesty, integrity and kindness are attributes will make you a better business person and well respected by others.

Don’t hit people. (Especially when they are down.) If you receive a call from a friend, or friend of a friend, who is looking for a job and trying to network, meet with him or her. You never know when you might be in a similar situation.

Put things back where you found them. Never leave the "filing" to someone else. It is good exercise for you to get out of your chair and put it away.

Clean up your own mess. Don't finger point at others when a mistake has been made. If you are the boss, you need to stick up for others and help them take care of the problem.

Don’t take things that aren’t yours. Don't take credit for others ideas. Encourage free thinking and reward those who come up with good ideas.

Say you’re sorry when you hurt somebody. Don't be stubborn. You know when you have been unreasonable and may have said something cross.

Wash your hands before you eat. Prevent the spread of H1 N1.

Flush. (Of course.)
 
Warm cookies and cold milk are good for you. Treat your employees on a regular basis to goodies or lunch. A little investment goes a long way to help keep your staff happy and productive.

Live a balanced life. Learn and think, draw and paint, sing and dance, and play and work a bit each day. Remember, that at the end of your life, you don't want your tombstone to say, "He/she never missed a day of work." Your employees need to see you enjoy life also.

Take a nap every afternoon. (But wait until your lunch break!) Power naps can refresh and energize you for the rest of the day.

Make 2010 A Year to Refresh, Renew, and Recharge

by Lauren Dixon

Often people make New Year's resolutions only to find themselves unable or unwilling to keep true to them throughout the year. How will 2010 be the year you attain your goals, "WOW" your employees and customers, and resolve to share your passion and creativity?

Setting a mix of realistic goals, as well as higher aspirations, makes for a more sound and strategic approach to the New Year. In 2009, there was unprecedented change in the business world and economy. 2010 is the time for a fresh and meaningful approach.

One of the most common resolutions is to be healthier - whether it's by exercising, eating a better diet, or merely having an overall positive attitude or work/life balance. Although this leads to a flood of new gym memberships in January, many people soon discover that they cannot stick to a regular exercise schedule.

This example can be applied to undertaking a new business endeavor - understand what you have committed to, and resolve to set a realistic goal that also accommodates your lifestyle. It is much more rewarding to have a sense of accomplishment after achieving a goal rather than the frustration of failure or shortcoming.

Make 2010 your best year ever!

Tip of the Week: Attend a Conference

by Elisabeth Hager, MD

Preparing to attend a conference takes more than booking a flight and hotel room. Any time you leave the office you spend valuable resources – time, money and attention to name a few, and you should plan to optimize your return on investment. To do so takes advanced planning. Once you have decided that the conference is worth attending based on content, take the next step and research other attendees.  

Conferences bring people who you may have been trying to connect with to a central location, allowing one-on-one meetings to be efficient and cost effective. Conference planners often have registration lists available to conference attendees, so you have the ability to call ahead to schedule a meeting around the conference proceedings. Alternatively, you can call a particular person of interest and ask if they are planning on attending. If nothing else, you have just made another connection.

Because of the value of networking, many conference planners build in formal times to meet and greet, although sometimes a one-on-one may work out best if scheduled for a more quiet time and place. You may find that the annual meeting in your area of interest becomes the most cost effective way to connect with others who are dispersed geographically.

Love, Work, and Money

by Alyssa Gruber

What I believe makes entrepreneurs so special is their ability to pursue a passion. Whether that passion revolves around a particular talent of their own or is directed toward improving the quality of life for others, it takes a tremendous amount of courage, confidence, and determination to follow a dream and turn it into a career.

It seems that people driven solely by money rarely find true happiness. Sure, they may become wealthy if they work hard enough, but ultimately there’s little satisfaction in financial success devoid of meaning, especially if the job’s not enjoyable to begin with.

Those who realize that doing something they love and are good at is more important than being rich will most likely come out on top. Success lies in passion, and fortune accompanies fulfillment.

Here are some inspirational quotes on entrepreneurship:

I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful - Warren Buffet, investor and billionaire

I never perfected an invention that I did not think about in terms of the service it might give others... I find out what the world needs, then I proceed to invent - Thomas Edison, inventor and scientist

The entrepreneur in us sees opportunities everywhere we look, but many people see only problems everywhere they look. The entrepreneur in us is more concerned with discriminating between opportunities than he or she is with failing to see the opportunities - Michael Gerber, author, entrepreneur

Your time is limited, so don’t waste it living someone else’s life. Don’t be trapped by dogma - which is living with the results of other people’s thinking. Don’t let the noise of other’s opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary -Steve Jobs, co-founder of Apple and Pixar

My Impression of First Impressions

by Alyssa Gruber

School began in July, and I have since completed two classes and almost thirteen days of orientation. (MS Marketing and Finance students were required to attend a separate summer orientation along with the standard two-week session for the MBAs in the fall.)

Much of orientation was run by the CMC (Career Management Center) staff, who provided my classmates and I with a great deal of information and knowledge regarding various career paths as they relate to our individual likes, skills, and personality types. As for as the job search itself, we learned techniques for formatting resumes, drafting cover letters, and communicating during interviews.

The detail and thoroughness of these career classes opened my eyes to the number of factors associated with peoples’ capacity to survive and thrive in the business world. It’s scary to think of how a single grammatical error in an email to a potential employer could cost a person a job opportunity.

A topic that was highly emphasized and particularly caught my attention was on the importance of first impressions. Like it or not, first impressions are real, and they are often used in making assessments about others.

According to Malcolm Gladwell, author of Blink: The Power of Thinking Without Thinking, the human brain takes two seconds to form an opinion of someone. He explains, “Snap judgments are, first of all, enormously quick: they rely on the thinnest slices of experience … they are also unconscious.” (p. 50)

That’s a nice little fact, but why bother teaching us about what’s beyond our control? To induce paranoia and self-doubt?

Studies done on the role of first impressions in the work place offer insight for ways to maximize one’s image in order to be attractively perceived.

Be punctual, have a firm handshake, make eye contact, and show interest. But politeness and tact only go so far.

Appearance is probably the largest contributor to the first impression process.

So, I guess all I have to do is dress well for people to like me, right?

Unfortunately, it’s not that simple. Dressing “well” falls under a broad spectrum, dependent on peoples’ preferences. However, business attire is relatively consistent, and wearing appropriate clothing for formal meetings is not easy to mess up.

I’m left with the assumption that physical features mainly influence first impressions, and since impressionistic judgments are generally subconscious, there’s not a lot that people can do to change them.

While first impressions may sometimes yield accurate judgments, people must realize that they can be misleading and hurtful as well.

Here are my views on how to deal with first impressions:

• Don’t focus on conforming strictly to the norm, and realize that you can’t impress everyone.  Be yourself, and understand that many people who count will like you and accept you for who you are.
  
• Rejection sucks, but a bad attitude is worse. Understand that people have their reasons for not wanting to establish a relationship with you, whatever those reasons may be. Let it go and move on. You know yourself better than anyone does, and as long as you take pride in your own accomplishments and aptitude, don’t get caught up in what a random stranger thinks of you based on a single encounter.
  
• Always keep an open mind. Whether you are looking to hire an employee or pick team members, remember to give them the benefit of the doubt. There’s more to a person than what meets the eye, and in some cases, the most amazing qualities of all can only be revealed through patience and time. The biggest treasures may be buried the deepest!
  
• A first impression is only a brief indicator of one’s personality and virtues. Stuff happens, and bad days are inevitable. A lousy first impression is no excuse for demonstrating second-rate behavior. Treat others as you wish to be treated.

Responding to Generational Differences in the Workplace: Understanding the X Y Z's of Today's Employees

by Lauren Dixon

In many of today’s publications and news sources, it seems as though one expert opinion after another surfaces about the varying roles of Gen X, Gen Y, and Baby Boomers in the workplace.

Perhaps a better assessment of what makes people tick can be achieved by focusing on the individual worker rather than categorizing or stereotyping an entire generation. By understanding individual personality types, employers can get to the heart of what employees want in the workplace. 

Implementing personality type evaluations, such as Myers-Briggs Type Indicators, may give people a greater understanding of themselves and a better idea of where and how they fit in with organizational teams and groups. In addition, regularly surveying employees to determine their opinions and perspectives on key issues can help bridge generation gaps and create a forum for collecting and responding to employee concerns.

Dixon Schwabl regularly surveys our employees using not only the annual Great Place to Work survey process, but also newly developed in-house research techniques.

Outcomes that have emerged from these surveys include:

•  An expansion of the firm's Green Team (recognizing the commitment to the environment from Gen Y,)
  

• one-on-one appointments with the financial team from AXA Advisors (for Baby Boomers and Gen Xers concerned about the ups and downs of the financial markets as they think about retirement and savings,) and
  
  
• company yoga class (in response to cross-generational feedback about convenient wellness programs.)

Certain issues span generations, such as the need for flexibility to attend appointments during the day and for a family-friendly culture. Employers must take time to acknowledge and appreciate what is important to employees. The best way to do that is to ask precisely what employees want and determine whether their views correspond with your company culture. Creating an open door policy ensures that employees of any generation feel comfortable voicing their opinions.  

Tip of the Week: Finding the Information Resources You Need

by Elisabeth Hager, MD

Being an entrepreneur means finding and managing resources: both those you pay for and those you don’t.

One resource that is essential is information. Luckily there are many places to find the support and information you need to move your company along.

A few of these resources include:

• Angel Capital Association
• Center for Women's Business Research
• Kauffman Foundation
• Invent Your Future
• MIT Enterprise Forum
• National Venture Capital Association
• OPEN: The Small Business Network from American Express
• PWC Entrepreneurial Resource Center
• Women's Business Enterprises National Council
• Women Presidents' Organization
• Government Resources: SBA's Online Women's Business Center
• Small Business Innovation Research Program (SBIR) and Small Business Technology Transfer (STTR) Programs
• SCORE
• Small Business Investment Companies
• WomenBiz.gov

And the blogs:

• Ask the VC Blog
• Boot Strap Me
• Both Sides of the Table

The web is a wonderful resource. Make use of it!

Tip of the Week: Make It Happen

by Lauren Dixon

Maintaining a positive work/life balance is critical in today's workplace. Employees who are able to keep personal and workplace issues in alignment are apt to be focused and energized at work and relaxed at home.

How do employers "make it happen" for employees at work so that they can attend to personal matters when necessary?

One way is to offer employees conveniences and services to eliminate the time and effort outside of work spent on errands or personal issues. Perhaps arrange for a dry cleaning or lunch delivery service. Your employees' lives will be less stressful and more efficient.

Employers might also consider providing other services that may take a little more effort to set up but reap enormous benefits in the end. Instituting wellness programs (ie. on-site sports teams and yoga classes) is a social and healthy option.

At Dixon Schwabl, we have an on-site flu clinic so employees do not need to take time away from work or with families and friends to get their annual flu shot.

We also offer one-on-one meetings with financial advisers so employees can call on expertise that they normally would need to seek outside on their own.

Sometimes, companies only consult their management team for workplace decisions, which may result in a misplaced benefit or perk that in fact benefits no one at all. One West Coast firm brought in three meals a day for employees, assuming that their workers would enjoy and appreciate the convenience. However, this made employees feel pressured to work around the clock.

To avoid a situation like this and to decrease risks, determine which conveniences would be most valued by your employees before implementing them at random. Survey your workforce and encourage open communication to receive honest feedback.

Tip of the Week: Stay Focused

by Jane Glazer

Stay Focused. It probably sounds like a mundane statement, but it is filled with enormous pressure- especially for an entrepreneur. Being in charge is a huge responsibility that can certainly be overwhelming when everyone and anyone needs "just a moment" of your time. It may be impossible to get it all done, for there are only so many hours in the day.

How can you remain focused on your set priorities and determine what tasks require immediate attention?

Let's say you are working on an assignment that must be finished today, and you are starting to get antsy and are having difficulty concentrating. If someone enters your office, stand up and move to another seat where the two of you can sit and talk comfortably. A few minutes at a table will make you yearn for your desk and computer again.

A short break in a slightly different location will help you regain your focus so you will be able to complete the task at hand.

If a person asks to arrange a meeting with you, try to discuss the issue with him or her right then. Avoid a half hour discussion with one quick conversation.

Don't answer your phone and check e-mails more than once an hour. An important phone call will have a message attached, and an important e-mail can generally wait an hour. Be sure to keep your cell phone near in case there is a real emergency.

By eliminating distractions and taking breaks when necessary, your schedule will free up immensely. But what do you do with all the extra free time? Focus on the operations of business, focus on the financials, and focus on strategy for the future.

Tip of the Week: Travel

posts by Alyssa Gruber

You need a vacation when...

You are overwhelmed with work and are at a standstill.
As hard as it is to relax at  this point, you’ll never know where or how to start if your brain is clouded with chaos. Forcing yourself to become mentally organized is a waste of time and energy. Extra frustration, stress, and pressure will only set you back  further. Try focusing your attention on what you can control, and plan a short getaway to your place of choice. For many, spending a day at the spa is a great way to unwind and refresh. Others may find relief by engaging in a more distracting and adventurous activity. How about whitewater rafting or a  parachute jump for a daycation?

You are stuck in a rut.
Sometimes, people are so accustomed to their ways and day-to-day routine that they fail to maintain focus on their job objective. Certainly, creativity gets consumed by drudgery. Repetitive patterns are restrictive and  confining; if there is not enough freedom within the job, there is always freedom on the road. Take a break. Veering outside the lines and to traveling for a week or two may send you back to work redirected and re- inspired.

There is no one formula for success and achievement, but we do know successful people know how to play as well as they work. Everyone "just needs a vacation" now and then. Recognize it and use it to refuel and renew. Your business will thank you for it!