The Woman's Advantage

2007-02-09T02:11:00.000-08:00

What Kind of Businesses are Driving the Economy?

According to new information just released by the US Small Business Administration, small business is what keeps the economy of individual states afloat.

This report, Small Business and State Growth: An Economectric Investigation (who do they pay to develop these titles?) finds that small business births are "the single-largest determinant of GSP, employment, and SPI growth" in individual states.

Does your state undertand that businesses like yours are keeping it afloat?

2007-01-26T12:10:00.000-08:00

Do You Perform Regular Maintenance on Your Business?

We all perform regular maintenance on our cars but very few of us do so with our businesses.

Why don't we think that our business requires at least as much attention as our car?

If you drive your business continuously without checking the gauges, changing the filters and refilling the tank, you're likely to find yourself on the side of the road as your competition speeds by.

A great way to ensure that your business is running on all cylinders is to join a peer advisory group. And, if you're a woman who generates over a million dollars in annual revenue, there is not better one than The Women Presidents' Organization

If you're not quite at a million, check out The Woman's Advantage to find out how to get there!

2007-01-23T02:42:00.000-08:00

Are You Loosing Sales?

Bill Brooks is a fellow speaker and a great salesperson.

He recently introduced me to his 4-Hour Rule, which opened my eyes to the fact that I wasn't following up fast enough on sales opportunities.

Here's Bill's 4-Hour Rule:
- If you follow up on an inquiry within 4 hours, you'll have a 90% close rate
- If you wait 5 days to follow up, you'll have a 5% close rate

I actually put Bill's advice into action yesterday. I had received two calls, one for consulting services and one for delivering my newest keynote, The Woman's Advantage. Although I had a lot going on, I decided nothing was more important than closing those deals. So I followed up immediatley on each of them...and booked the revenue!

I know this seems like really basic stuff...especially for someone like me who's an expert in marketing and sales...but sometime you've just got to be reminded of the basics.

Thanks, Bill, for your insight and advice.

2007-01-20T03:27:00.000-08:00

If You Could Meet Anyone in the Whole World, Who Would That Person Be?

This question was posed to me by the Women Presidents' Organization (WPO) and I'd challenge all of you to consider it as well.

My answer might be a little off the wall, but here goes.

My favorite book of all times is Ellen Foster by Kaye Gibbons. Ellen was a little girl with a lot of spunk. Dealing with an alcoholic father after the death of her mother, Ellen basically raised herself. I would love to meet Ellen today and see the woman she has become. I bet she's like the women in WPO: strong, confident, making a difference in the world!

2007-01-19T04:35:00.000-08:00

Do You Know a Mom-to-Be?

I came across the greatest site...owned and run by a woman, natch!

If you want to see the cutest gifts you could ever give to your pregnant friend, sister, or daughter, check out MollyAnna .

The tagline for the company is: Bold. Sassy. Preggo. (Don't you love it already?)

Molly (yes, that's actually her name) told me that she started the company two years ago when she was pregnant. Now she creates t-shirts with cool slogans just for pregnant women.

After raising three kids, my favorite is "Birth Control is for Sissies!"

This is a fun site...check it out!

2007-01-17T14:20:00.000-08:00

Are You a PrimeTime Woman?

Holy Cow! I just got a copy of Marti Barletta's latest book, PrimeTime Women. As a Baby Boomer Professional Woman, she's got me pegged!

If you sell ANYTHING to women over 40, you have got to read this book!

2007-01-16T01:22:00.000-08:00

Is Your Lifestyle Negatively Impacting Your Bottom Line?

A recent Indiana University-Purdue University Fort Wayne (IPFW) study found that your lifestyle has a significant impact on health insurance claims. The study determined that 87.5% of the cost of insurance claims are driven by your lifestyle.

As an entrepreneur, this means that everything you do to address your own wellness, as well as that of your employees, impacts your bottom line. Taking the initiative to eat healthier, eliminate smoking, and work out regularly puts money right back in your pocket.

Here's my personal take on working out, which, by the way, I HATE! I've convinced myself that for every hour I work out, I add a day to my life. From a pure business perspective, that's an amazing ROI: 1 hour invested returns 24!

2007-01-10T03:15:00.000-08:00

What Will You Do Differently in 2007?

I'm continually frustrated by my limited reach. As a speaker, the reach of my message is limited to the events at which I speak and the women who happen to attend those events. As an author and columnist, my reach is limited to those who happen to pick up one of my books or articles.

In 2007, I'm going to get my message out to more women by developing new products. I've already completed the first draft of a new workbook to accompany my latest book The Woman's Advantage: 20 Women Entrepreneurs Show You What it Takes to Grow Your Business This workbook will be available at all my upcoming speaking engagements.

I'm also developing an educational CD program that will enable women entrepreneurs to gain new strategic accounts. I've found that most small to mid-size businesses struggle to get into Fortune accounts, and I know exactly how to do this, so I'm going to creat a CD program that will provide them with the nuts and bolts to do this.

And finally, I've got a "Top Secret Project" that I'm working with my agent to sell into a publisher. I'm really excited about this and hope to be able to share it with the world by March 1 or so.

So, there you go...that's what I plan to do differently in 2007!

But in the process, I don't want to loose sight of other things that are important to me, like spending time with my family and (hokey as it sounds) making a real difference in the lives of everyone I meet.

2006-12-11T05:08:00.000-08:00

Does Your Business Run You?

I spoke at a women's conference this weekend about the tightrope that connects a successful business and a happy family. We discussed the difficulty of running your business, rather than the other way around.

One woman mentioned that she seemed to be on her cellphone whenever her kids were in the car. This caused me to remember that some of the most teachable moments with my now-adult children, occurred while I was driving alone with one of them during their teenage years. For some reason, they seemed to let down their guard and allow real conversations to occur. And because they were a captive audience, we had some great discussions about important things.

So, maybe you want to think about designating your car as a cell-free zone when you are driving your kids...particularly teenagers.

You might just position yourself for some of the most important conversations of your life and theirs.

2006-12-07T04:02:00.000-08:00

How Can You Stand Out from the Crowd During the Holidays?

I recently came across a great website that allows you to custom design greeting cards and stationery with a caricature that looks just like you. The site is called Design-Her-Gals www.designhergals.com and it is really fun!

But beyond fun, this site provides a way to differentiate yourself and your business. For example, I created a note card with the name of my book, The Woman's Advantage, at the top. Then I developed a "Gal" who looks just like me with spikey frosted hair, dressed in green, holding a green book in her hand. And I put the website for my book www.WomansAdvantage.biz at the bottom of the card.

Everyone who receives the card comments on it. Something that would not happen if I sent out run-of-the mill cards.

2006-11-30T02:35:00.000-08:00

How does your location impact your woman-owned business?

AllBusiness.com announced the results of its annual "Best Metros for Women Entrepreneurs" national study.

The study of 700 women entrepreneurs indicated that we place highest importance on six attributes of a community: low crime, low property taxes, high household income, modest real estate prices, rapid population growth and pedestrian friendly.

The study then used federal and local government data to identify which cities best exhibited those six traits, along with the traits of economic growth and business incubation. The results were separated by population into small, medium, large and overall categories.

I was excited to see that my home, Raleigh/Cary, NC was rated #1 in the large category. Check out the survey at www.AllBusiness.com to see how your city fared.

2006-11-20T04:35:00.000-08:00

Can distinctive clothing help you generate new business?

If you've read my current book, The Woman's Advantage www.WomansAdvantage.biz , you know that I like to identify advantages women have in business. Here's one that I share with my speaking audiences and readers...and I again experienced it just the other day.

As a woman, you can dress more distinctively than a man. You can wear vibrant, unusual clothing. Flashy signature jewelry. An unusual hairstyle. This is one of your many advantages in business.

At a recent event for several hundred women, I again had this advantage demonstrated for me. I happened to be wearing a vibrant silk poncho (made by a woman business owner, natch!). Because most attendees wore Boring Blue suits, I stood out from the crowd. As a result, many women who did not know me came over to comment on my distinctive poncho and introduce themselves. This, of course, gave me the opportunity to chat about my business with potential prospects.

Would these women have approached me if I'd also been in Boring Blue? Perhaps. But I wouldn't bet money on it.

Think about how you can capitalize on The Woman's Advantage by wearing distinctive clothing, sporting a signature piece of jewelry, or perhaps focusing on a signature color.

It's fun...and it just might help you grow your business!

2006-11-16T04:20:00.000-08:00

Does your business qualify for SBA certification?

Ah, yes...the government is making another change. As of June, guidelines for small business qualification are changing. Two of the changes will be great for those who classify.

First, the government will actually rate agencies according to their efforts to award contracts to small businesses. Many corporations have taken this one step furtherby providing financial incentives to those who meet goals for purchases from women-owned or minority-owned businesses.

But here's the bigger change. Currently, when a company wins a contract based on small-business status, it can keep the designation for the life of the contract. This means that even if a company grows wildly and no longer qualifies as a small business, the contract remains in place with the small business designation. And, even more ludicrous, when a company with such contracts is acquired by a Fortune company, the classification for that contract remains as small business. Under the new rules, a company must recertify whenever they undergo any kind of merger or acquisition. And, they must recertify when they pass the five-year point of any long-term contract.

Both of these changes indicate that dollars intended to be spent with small businesses, will have a higher likelihood of being spent with small businesses. What a concept!

2006-11-15T13:34:00.000-08:00

Can you work from home one day a week?

I had an interesting conversation yesterday with a group of women business owners. We were discussing personal productivity and one woman mentioned that she works from home every Tuesday. During that 8-hour period, she's determined she gets about twice as much work done as any day in the office.

This woman president intentionally does not work at home on Monday or Friday, because she's concerned that she might let herself lapse into a 3-day weekend. Even if that didn't happen, she's concerned that her staff might have that perception. She said, "I really need to work that day, so I don't take it off to play around; I take it off to get two days worth of work done in one."

Might this idea work for you?

You've got to have self discipline to work at home, but if you can handle it, working this way can really drive up your productivity. And, just think of all the time you spend putting on makeup and panty hose and commute to work...all things that you can skip when you work from a home office.

2006-11-09T00:36:00.000-08:00

Having a hard time recruiting high-quality staff?

It's especially difficult to find great administrative people these days. You know the kind I mean, those who speak well, develop great rapport with customers and fellow workers, and just show up, mentally as well as physically, every day.

Here's an option you might consider: Do you absolutely need a full-time 8-5 person, or could you bring in a someone 9-3? This would give you the option to hire a stay-at-home mom with kids in school. Such women are often well-educated, well-organized, and have a solid work ethic. Women business owners tell me they get as much work done with motivated employees scheduled for these shorter hours than they do from "regular" employees. And, you may have the added bonus of not having to pay benefits.

Test it out. For your next job opening, advertise the position twice: once with regular hours and once with mom-friendly hours. Then compare the calibre of workers who respond. I bet you'll be surprised.

Let me know. www.WomansAdvantage.biz

2006-11-03T03:27:00.000-08:00

Where Should You Start Your New Business ?

According to a recent survey of the Small Business & Entrepreneurshp Council (SBE Council), I should move to South Dakota.

Under the leadership of Karen Kerrigan, this Washington, DC-based champion of small business recently distributed its annual survey of factors related to starting and growing a business. And my home state, North Carolina, did not fare well.

According to the SBE Council, the top five states for entrepreneurs are:

South Dakota
Nevada
Wyoming
Alabama
Washington

My beautiful North Carolina came in at lowly 40!

See how your state fared at http://www.sbecouncil.org/Media/pdf/SBSI_2006.pdf

2006-11-01T03:58:00.000-08:00

Is Your Website Frozen in Time?

Once your website is up and running, it's easy to move on to the next thing and neglect updating it. I know this has happened to me. My primary site www.WomanBusinessOwner.com has basically remained "frozen in time" since its creation in March 2005. I've got no one to blame for that but myself.

The site for my newest book, www.WomansAdvantage.biz, however, is current. Why? Because I asked my web designer to create a way for me to update my Tour section with a SIMPLE interface. This is important because the Tour page describes all the events where women can meet me and hear me speak.

How stuck is your website? Are there certain pages, that if kept current, would make a difference in your business? What would it take to have them revamped so that you, or a non-techie staff member, could update them with ease?

2006-10-23T05:01:00.000-07:00

#1 Woman in Africa

I had the honor of speaking at the NC Conference for Women this week along with Madame President Ellen Johnson Sirleaf, the 23rd President of The Republic of Liberia and the first woman ever voted in as a national head-of-state on the African continent.

Internationally known as The Iron Lady, Mrs. Johnson Sirleaf is one of Africa's leading promoters of peace, justice, and democratic rule. Prior to her election in January 2006, she spent more than a year in jail as a result of fighting for her beliefs. She has been named by Time Magazine as one of the World's Most Influential People and by Forbes Magazine as one of the Most Powerful Women in the World.

Her primary concern for Liberia is education, especially for girls, because she understands the struggles that face a country with a literacy rate of only 28%. And she understands the type of life a girl is destined to live without an education.

Whenever I meet such a woman, I'm always reminded of the opportunity that abounds for women in the US. An opportunity that so many of us take for granted.

2006-10-18T02:33:00.000-07:00

Novel Approach to Pushing Product

McCormick, the spice company, ran an intriguing ad in this week's Parade magazine. Under the headline, "Do you know the signs of aging?" they provided pictures of out-of-date McCormick's packaging.

Alongside their cinnamon bottle, they alerted me: "If you see 'Baltimore, MD' on the label, the spice is at least 15 years old." And next to their cinnamon tin, they informed me, "Except for black pepper, McCormick spices in rectangular tins are at least 15 years old."

Then, they alerted me to "Check Your Spices."

Out of curiosity, I went to my spice shelf, just as they had directed me to do. (I wonder how many other thousands...tens of thousands...hundreds of thousands...joined me in this?)

As it turns out, all the spicy inhabitants of my kitchen are less than 15 years old, but McCormick got me to look, didn't they? And, if I'd come across a few old tins, I'd have trashed them and added those items to this week's shopping list.

Now, I'm not saying that I would have replaced them with the McCormick brand, but I would have replaced them with some brand and there's a chance that would be McCormick.

Intriguing way to push product, no?

How might you implement a similar idea in your business?

2006-10-14T02:30:00.000-07:00

Women Entrepreneurs are Doing Amazing Things

I just returned from facilitating an event for the Women Presidents' Organization. As I moved around the room meeting women, I was struck by the caliber and variety of their businesses. Scattered among the group were women who own and run:

- a demolition company (there's an industry that's not for sissies!),
- a trade company importing raw materials to manufacture fabric
- a firm that manufacturers and installs modular commercial buildings
- a company that provides immigrant labor for manufacturing jobs

...and my favorite, a woman who owns and runs five wildly successful businesses, ranging from a catering company, to a media placement firm, to a clinical trials company, to a historic B&B.

Women these days are doing the most amazing things...and I've got the coolest role of all...working with them every day to help them make it happen!

2006-10-12T04:22:00.000-07:00

Women Presidents' Organization Retreat in Belize

2006-10-12T03:52:00.000-07:00

Here's a great business idea that supports the environment.

I recently facilitated a meeting of the Women Presidents' Organzation held at El Pescador, a woman-owned resort in Belize. (I know I've got a tough life, but I persevere.)

El Pescador's owner, Ali Flota, has figured out a way to actively protect the environment while gaining some great PR. Ali's research showed that each aircraft traveling round-trip from the US to Belize emits about a half ton of CO2. So she decided to make a donation on behalf of each El Pescador guest to Green Reef Environmental Institute, a non-governmental, non-profit organization that suppports Belize's atolls and natural resources.

Because El Pescador is a serene, world-class fishing destination that offers eco-adventures, snorkeling, cave-tubing and all things outdoors, Ali understands the importance of the local environment to her business. And she's protecting it through her support of Green Reef.

A pretty smart move for her business AND the environment if you ask me!

2006-10-03T04:19:00.000-07:00

I just returned from speaking at a women's conference in California and was impressed by the front desk service at my hotel. Was this a Four Seasons or a Ritz-Carlton? No, it was (of all things) a Holiday Inn.

I had spent the entire day traveling. I left Wilmington, North Carolina at 8AM and arrived at the Holiday Inn in Chico, California at 9PM...if you do the math and calculate the time zone changes, that's 16 hours. I was beat and anxious to get to bed so I could get up in another 7 hours to deliver a breakfast keynote for several hundred women.

When I gave the desk clerk my name, he smiled at me and said, "Ah, Mary Cantando, we've been waiting for you!" Now, I realize that he must say this to every guest who checks in, but the novelty of his comment made me smile.

I then picked up one of the apples from a bowl next to me and said, "I'm going to call this dinner."

His comment? "You know, that apple's been waiting for you all day!" (Another smile!)

His great customer interaction caused me to wonder: How could more of us develop novel greetings to replace the worn-out phrases that we hear every day?

2006-09-21T07:13:00.000-07:00

I just returned from speaking on a cruise to Alaska. The most fascinating thing I saw during that 10-day period was a pair of Black Bears, who were brothers. According to our guide, it's highly unusual for bears to stick together, but these had done so for about 4 years and it looked like they'd be together for life.

As we rafted by, "The Brothers" were fishing in water up to their waists. They would catch large salmon, take one bite (a sweet spot from the back) from each, and then toss the remainder of the fish aside for another animal to finish.

My daughter, Suzanne, accompanied me on this cruise and I have to admit that I did many more "adventuresome" excursioins with her than I would have done alone. We went biking in both Sitka and Icy Straight Point, and we did a Hike & Float on the Chilkoot Trail. This is the trail that the Klondike goldseekers took and it was not for sissies!

How's this for a gal helping her mom: About 5 minutes into the hike, Suz said, "Mom, let me take your pack." And she carried her pack and mine for the entire two-hour hike.

Have I mentioned that I've got the best daughter in the world?

2006-08-23T14:37:00.000-07:00

I've been working exclusively with women entrepreneurs for about six years now and during that time I've noticed how women's nurturing instinct compels us to share information and help one another. Rather than competing, we cooperate. I refer to this cooperative instinct as The Woman's Advantage and I feel so strongly about it that I gave my new book (and this blog) that title, because I beleive that we do have an advantage.

As a professional speaker, I meet thousands of women business owners in my travels. These women share some impressive ideas and amazing stories with me. My goal for this blog is to share the best idea or most interesting thing I learn from every trip I take.

And, if I meet you in my travels, I hope you'll share something you've learned from me as well.