The Big Mo

It’s almost June 2010—mid-year—and there’s still a lot of work to be done.  We announced earlier this year that we were busy making changes behind the scenes to build more momentum in fulfilling our mission: To boost the confidence, visibility and profitability of women entrepreneurs.  We’re still at it.  The Big Mo (Momentum) is like a wave; takes quite a bit to get it going but oh once you do—watch out! 

We’ve got a whole new web presence in the works, new content and new events—all designed to celebrate you, inform you, connect you and ensure that you have the tools you need to be the biggest success you can be in business.  We can’t wait to launch it.

There is nothing more beautiful than a woman who is proud of herself and happy about the life she has created and we know that your work as an entrepreneur is such an integral part of that—so we’re here to help you achieve your visionary dreams!

We have posted a very basic beta site at our new spot on the web. Check it out at www.msceo.net and let us know what you think. Leave your comments on the new site or on our new Facebook fan page. Also, follow us on Twitter to keep up with what’s next!  If you know someone, or something, we should cover, pitch us anytime.

Women entrepreneurs rock and rule — and we’re getting better to help you do it

Valentine’s Day is just around the corner and the staff at The Ms. CEO Show loves our mission more than ever. We’re building a stronger and stronger foundation to boost the success and visibility of women entrepreneurs.

We’ve got a whole new web presence in the works, new content and new events—all designed to celebrate you, inform you, connect you and ensure that you have the tools you need to be the biggest success you can be in business.

There is nothing more beautiful than a woman who is proud of herself and happy about the life she has created and we know that your work as an entrepreneur is such an integral part of that—so we’re here to help you achieve your visionary dreams!

We have posted a very basic beta site at our new spot on the web. Check it out at www.msceo.net and let us know what you think. Leave your comments below, or on our new Facebook fan page. Also, follow us on Twitter to keep up with what’s next!

Word of Mouth Marketing: Do it or Your Brand Dies

**NOTE: The radio show mentioned in this blog posting was originally scheduled for Wednesday, November 18th at 4pm EST. It has been re-scheduled.

Storytelling is older than dirt. Family histories have been preserved by it and companies have been built with it. For business it’s often called “word-of-mouth” (WOM) and with social media in full effect its power has increased considerably.

Word-of-mouth a la social media is such a force that big bank rolled companies can’t even deny it’s influence. They can throw money at it—and have tried—but the authenticity factor trumps money so today everyone has to cull their story, treat customers well (hooray) and spread the good news via word of mouth. In some senses, this is grounds for entrepreneurs and small business owners to do the hallelujiah dance because we have great stories and the tools to tell them, even if we can’t yet afford a Super Bowl ad. But we have to know how to do that—and we have to do it consistently.

Are people talking about your brand like crazy yet? No worries! Today on The Ms. CEO Radio Show, we’re talking to Ted Wright, managing partner of Fizz Word of Mouth Marketing agency, to get the inside secrets that only a 15-year WOM marketing whiz like him could share.

Check out this cool WOM marketing metrics and best practices guidebook from the Word of Mouth Marketing Association, and listen to the show to get your story going!

Sometimes It’s the Little Things

Sure, everyone is talking about TGIF. No, not thank-goodness-it’s-Friday, but Twitter, Google, (the) Internet and Facebook. But it doesn’t mean they know you’re present on these platforms or what your username is. Make sure you tell them. The responsibility for connecting with your potential followers, fans and friends is on you.

Sometimes in business it’s the smallest things that we forget that could make the biggest difference in the long run. This short-and-to-the-point blog article calls this “the butterfly effect.”

Apply this concept to your company. Make sure in your business you are always spreading your wings, by spreading your message—even in the smallest ways.

The White House Project Releases Groundbreaking Report

The White House Project has released a ground breaking report that indicates that depsite perceptions by both genders, women are not leading in any category of society—not even the sectors which are assumed to be led by women like education and non-profits.

There’s no blame game in effect but it is time for parity. Gender equality in leadership simply will make us stronger economically, politically, socially and communally. This is why it’s not a woman issue—it’s an American issue. Until women are fully integrated into leadership in each sector, alongside men, we will not have reached our fullest potential as a nation.

Read the report and prepare yourself to lead—or open the door for others to do so.

Ad Campaigns Gone Wrong

The White House Project has just released its new benchmarking research proving that despite common perceptions among both genders, women still are not fully intergrated in leadership in any sector; not even ones that we assume women lead like education and non-profits.

Perhaps proof of the need for more women in decision making roles—or with a comfortable seat at the table—are these six totally dumb (so dumb they’re hilarious) ad campaigns aimed at women.

The Johnson and Johnson o.b. tampon ad by far gets our top vote for the dumbest of them all.

Break through the Marketing Clutter but Don’t Blow Your Budget

It’s been drummed into our heads. Traditional advertising and marketing tactics—alone—no longer work. So, now we have to use a lot more creativity to grab attention and convert that attention into sales. Key phrase here: convert that attention into sales.

For some well-financed companies like Burger King, it is apparently worth the financial risk and potential social faux paus of offending women to push the advertising envelope and cut through the clutter. Earlier this year, they approved an ad campaign for their “Super Seven Incher” hamburger, featuring the sandwich headed in the direction of a woman’s open mouth, with the headline: It’ll Blow Your Mind Away. (Really, Burger King?)

Edgy and offensive? Or, edgy and effective? Supporters of the strategy say effective—citing the fact that it has increased the chain’s sales among young men, the targeted demographic.

Think what you will of the Burger King ad, but more importantly be mindful that as entrepreneurs and small business owners we’ve got to break through the clutter creatively without burning through cash. If your marketing gets people’s attention and gets them talking—but doesn’t get them spending, you blew it.

How You Can Grow Your Business and Change the World

M3 Competition Animated Graphic

Entrepreneurs start businesses for dozens of reasons. Lots of women have told me that they get started for flexibility, extra money, to pursue a passion and to have fun. Some of you have told me that you want to change the world. All those reasons are why I got started too.

I was sitting in church one Sunday and we had a guest pastor. All the way from Australia. His name was Dr. Peter. He talked about once being so illiterate that he could not even complete a job application to do construction work, though he had the physical brawn. He went on to discuss how he finally had to face his shortcomings and do something about them, which led him to start his own business.

Years later, he now has several successful multi-million dollar businesses with offices and employees on three continents. He spoke in absolute and confident terms and struck the congregation with his audacity and wit.

I was impacted by all that he said but a statement he made and a question he asked have stuck with me to this day. His statement was not the reason I resolved to develop into one of the world’s greatest entrepreneurs, but it was certainly an inspirational factor. He said, “Too many of you run around everyday talking about and thinking about how you can change the world but you can barely take care of your own finances. If you want to help someone and change the world create a business and give them a job.”

I thought for a moment (and then later, and nearly every day ever since) about his comment. Eureka! He was right!

Most people spend most of their time at work. Work is home away from home for many people. The lives of people who work, even part-time, are significantly shaped by their experiences on the job. That means that by starting a business and growing it to the point that you offer employment to others—whether part-time or full-time and whether they are employees or contractors—you are helping people; you are helping the world.

You could transform your community, city, state, nation or world by starting a business that provides people jobs, and therefore gives them a purpose everyday.

To build a business that takes care of you and your family and consistently employs others, you’ve got to create a systematic enterprise. One that has its own brand, practices, processes and structure. Business at this level means you are effectively using technology and have a good team of people working with you everyday. It probably also means you’re on the path to $1 million, or more, in annual revenues.

Now that may sound overwhelming and scary, but it’s not. Thousands of other women have done it. Plus, you can’t believe you have achieved what you have already achieved in life, right? How did you do that? One day at a time, with faith, perserverance, hard work and a bit of help from others, right? Well, that’s how you and your business can grow to $1 million, or more, in revenue and help change the world. And there is already a well-experienced organization (Count Me In) and group of other women who are striving to have fun, enjoy flexibility, make money, and make a big impact just like you.

You should enter the Make Mine a Million $ Business Competition. It’s always easier to run faster when someone is running alongside you (the other women in the competition) and coaching you along the way (the professional staff and coaches provided by the organization). You’ll enjoy the competition, you’ll enjoy your success and you may even win! But in my view, the competition is not just about that. It’s also about changing the world.

EXTRA
Check out five reasons you should be in this competition straight from the founder Nell Merlino’s blog.

Onward and Upward,
Felicia Joy

Launch, Learn and Grow

Business, like life, is never perfect.  You have an idea.  You launch it.  If you’re perfectly in tune with the market your idea takes off, generating revenue right away, and you run smack dab into administrative headaches, financing issues, growth challenges or customer service hurdles.  Or, perhaps the market doesn’t respond in the way you expected.

No matter what happens when you launch your idea; the response is simple: Figure out what is not going the way you want it to.  Figure out why.  Devise a new strategy and move forward.  The key is to see business as an adventure that you want to figure out as quickly as possible.

We’ve been on quite an adventure at Ms. CEO Media Inc. this year and we have learned SO much.  We are busy re-tooling based on what we now know and you will see the results of our new strategy soon.  We’re not perfect but we’re perfectly determined to help more women build businesses they love.  So stay tuned!

Follow us on Twitter and become a fan on Facebook to see what’s next!

Be Encouraged,
Felicia Joy

Top 10 Takeaways from the Show: Women Entrepreneurs & the Next Generation

I love all episodes of The Ms. CEO Show but my favorite shows are ones like today when I get to talk to women entrepreneurs who are on the front lines of business, making it happen for themselves, their employees, their families, their communities and, ultimately, our economy, everyday.

As the fastest growing segment of the small business economy, women are a major part of the world’s economic sustainability equation.  The numbers speak for themselves: There are 10.1 million firms owned by women entrepreneurs in America that employ 13 million people and generate nearly $2,000,000,000,000 (yes, trillion—I wanted you to see all those zeroes!) in sales each year.  That’s a lot of wealth, jobs, and economic activity.  But, most importantly, that’s a lot of hope for the future and promise for the community—why?  Because research shows that women entrepreneurs give to the community, special causes, and non-profit organizations at  very high levels as—and once—they reach personal economic stability.  So, the rising tide of a successful woman-owned business is one that raises many, many ships along with it.

Important work is being done to boost the success and value of today’s woman owned business enterprises; in addition, a few organizations—and great parents—are laying the foundation for tomorrow’s women entrepreneurs by fostering business-mindedness in young girls and teenagers.  We talked to two of these organizations on today’s show.  We also got a heart-warming note from a dad on this topic:

“I have a real estate investing business where I buy and hold single family homes and small apartment buildings.  I also have a seminar business where I train other professionals with demanding day jobs to do the same.

My oldest daughter is aged 14.  For the last two years I have been taking her on appointments to see houses and apartment buildings before I buy them, and on the appointments when I rent them.  She was every excited last November when I let her decide which house we would add as our next rental at that time.

She has gone through all of my seminar material and now wants to start her own rental real estate business while she’s in high school, which she started yesterday.”

-D. Fassett

Our guests on today’s show were:

  • Nell Merlino, founder, president and CEO of Count Me In for Women’s Economic Independence, the leading national not-for-profit provider of resources for women to grow their micro businesses into million dollar enterprises.
  • Rosana Santos, founder and CEO of Big Chef, a producer of health-conscious appetizers (and a woman whose business surpassed the million dollar mark after she joined the Make Mine a Million $ Business Initiative). 
  • Kimberly Martinez, founder and CEO of Bonitas International, which produces “functional jewelry” for ID badges (and also a woman whose business surpassed the million dollar mark after she joined the Make Mine a Million $ Business Initiative).
  • Marcia Brumit Kropf, COO of Girls, Inc., the non-profit dedicated to inspiring all girls to be strong, smart and bold.  Girls Inc. has partnered with Goldman Sachs to create a cool corporate entrepreneurship camp for teen girls.
  •  Joline Godfrey, CEO of Independent Means, author of the book - Raising Financially Fit Kids, and the founder of Camp $tart Up and SummerStock; these are programs for teen girls that she has been running since 1992.

So, the Top 10 Takeaways from today’s guests on building your company to a million dollars or more in revenue, and encouraging the next generation of women entrepreneurs are:

  1. Get friendly with your financials.  Building a major company is going to require knowing the numbers and the story they tell about the health of your business, and perhaps areas that need improvement.  Understand this, embrace this, learn the numbers—and see your business soar.
  2. Learn to delegate.  As Nell Merlino said—and I totally love this, lol!—yes, you can have it all as long as you don’t do it all!  Get a great team, empower them to work, and focus your energy on what you do best, while your team does the same.  The result will be nothing less than magic—and a million dollar business if that’s what you’re striving for!
  3. Multi-tasking is a thief.  That’s right, this idea of multi-tasking is a fallacy.  Our guests say there is new research out that proves that multi-tasking is a misnomer.  Your brain can only focus on one thing at a time, so when you think you are multi-tasking or taking care of multiple things at once, you’re not.  You’re actually switching from one thing to another, to another, to another in rapid-fire mode.  The result is a bunch of stuff done (if you in fact get it all done) with mediocrity.  This is a colossal waste of time and money.  Why not just do a few things with excellence—and for any one thing that you’re working on give it your fullest attention and complete awareness and attention in that moment?
  4. Respond to changes in the business environment quickly instead of being oppressed by fear.  Rosana Santos’ company, Big Chef, used to be known for producing “luxury appetizers” but when the market dropped, most people’s interest in luxury products—food included—dropped too;  so her company switched to health-conscious appetizers—a real recipe for success since everyone is trying to lose or maintain weight.
  5. Simple products can be super successful.  Kimberly Lopez saved women and men every where from “shoe string” ID badge holders by adding stylishness to the workplace with her line of “functional jewelry”.  Her company is now doing $2 million per year in business!
  6. Connecting with others can connect the dots of your success.  Business ownership can seem lonely at first because you’re making major decisions and many of them alone.  But you’re not actually alone.  There are 10.1 million women business owners in America and thousands of them are in the Make Mine a Million $ Business Initiative.  Plugging in to various organizations and opportunities like this and subscribing to Ms. CEO Magazine can ensure that you get the connections, encouragement, contacts and insight you need to be a success.
  7. Shape her young mind now.  Encourage young ladies to learn about personal finances because doing so will be tied to their future success as entrepreneurs, if they choose that path; and knowing about their finances and being able to manage them will make them a success no matter what vocation they pursue. 
  8. Your actions are the best roadmap.  What you do in addition to what you say can encourage a young woman to believe in herself and the power of entrepreneurship.  Be aware of what your actions are communicating to her about entrepreneurship, finances and success—and make yourself a resource to answer her questions and model what her future could be.
  9. Emulate success.  When thousands of people have all achieved the same feat—in this case, reaching a million per year in revenue—there are some common strategies and tactics.  Learn those.  Apply those; and enjoy the same accomplishment.
  10. Do something different, or something more. Moms Mabley, a renown commediene born in the late 1800s who passed in 1975 said: If you always do what you’ve always done then you’ll always get what you always got; if you want something different, then you’ve got to do something different.  Enough said.

Be Encouraged!