Wise Woman Shining

International Woman’s Day and Women Business Owners

caseydawes — Mon, 08 Mar 2010 20:54:00 +0000

I’m sure you know by now that the International Women’s Day was created for “celebrating the economic, political and social achievements of women past, present and future.”

As an entrepreneurial woman, what should you celebrate today? Here are my thoughts:

Your courage. It takes courage and determination to start a business–kind of like grabbing for a trapeze bar. Make sure you have a safety net!
Your social conscience. By creating jobs for others–whether as subcontractors or as employees–you are helping other people feed their families.
Your commitment to lifelong learning. It was probably something you didn’t anticipate, but you’ll be doing a lot of it.
Becoming a woman leader. By virtue of “being the boss,” you are a leader. The world needs more people like you. And if you are a woman business owner in one of the countries where women are repressed, you are a courageous woman leader.
Your ability to make a difference. Like it or not, you are now in a position of power if you accept the mantle. You are more likely to be heard in the halls of government. Use your power wisely.
Caring. Most women entrepreneurs care a great deal for the people they work with and for the environment around them. Keep up the good work!

Celebrate your success as a business-owning woman — today and every day!

What do you think we should celebrate today? Leave a comment below…

Trust is Vital in Business

caseydawes — Thu, 04 Mar 2010 20:13:53 +0000

I finished reading Freefall: America, Free Markets, and the Sinking of the World Economy by Joseph E. Stiglitz, a Nobel-winning economist. I highly recommend it to get an understanding of what happened to the economy and what we need to do to make it better in the future. One of the many salient points he makes is about trust:

“Going forward, if we do not make fundamental changes, we will not be able to rely on trust again. If so, this will fundamentally alter how we treat each other, it will impede our relationships with each other, and it will change how we think about ourselves and each other. Our sense of community will be further eroded, and even the efficiency of our economy will be impaired.”

As a woman entrepreneur, how much do you promote trust in your company? Are your foundations built on a notion of integrity and truth-telling, even when it’s bad news? Do your discussions revolve around facts and values or are they tinged with sound bites, negative stereotypes and emotional rabble-rousing?

Here in California, another political season is upon us. Up until last night when I saw her latest ads, I was leaning to voting for Meg Whitman, in spite of the fact that she’s a Republican (hint–I’m not). Although I don’t agree with everything she has to say, I liked her three-point platform and way of addressing the rather large problems that the state has. But last night I saw the first ads of the new campaign against Steve Poizner. There wasn’t any debate about issues…just some painting of Poizner with a liberal brush and saying he fought against Proposition 13…in 1978.

This isn’t an approach that makes me feel like I can trust Meg Whitman. So, Meg, you just lost my vote.

I believe in what Gandhi said–to be the change you want to see in the world. At Wise Woman Shining, integrity is a vital part of company values, because we believe that it’s the only way to build trust.

How do you feel about trust in the nation and in business? How can you change it?

Failure IS an Option for Women Entrepreneurs

caseydawes — Mon, 01 Mar 2010 18:54:35 +0000

My name is Casey Dawes and I am a serial entrepreneur. I’ve had good businesses, bad businesses and businesses in between. My current business has been all of the above over time. But quitting isn’t an option. Falling down flat on my face is not pretty, but sometimes it happens. As the old song goes, though, I “pick myself up, dust myself off and start all over again.”

According to Jeretta Horn Nord, educator and author of a new book, A Cup of Cappuccino for the Entrepreneur’s Spirit Volume II , many women entrepreneurs go through a series of companies before they build one that is successful. Now isn’t that a relief!

We have a hard time letting go, sometimes. We don’t live in a society that has much care for failure, implying that there is a moral failure whenever a business fails to thrive. The key to being able to let go of a business, as it is with anything, is within yourself. It means allowing yourself not to be perfect, to expect to fall down once in a while. Many of us watched our toddlers fall down and we encouraged them to get up and try again. We didn’t berate them for falling down. We need to do the same with ourselves.

The tragedy isn’t that we fail and try again. The tragedy is when we don’t make any changes between the first attempt and the second. If we see our business in trouble because of the current economic crisis, what can we do to save it? Should we save it? Or perhaps it’s time to find some trusted business friends and see what you have learned from running your business in these economic times. Were your reserves high enough? Did you depend on a market that was vulnerable to economic extremes? Are you nimble enough to adapt to changing realities?

Has your business ever failed? What did you learn? Comment below.

Women’s Small Business Evolution

caseydawes — Fri, 26 Feb 2010 17:43:38 +0000

Most women business owners that I know don’t begin their business with a full-blown business plan. They have ideas, concepts, dreams and a desire to spend more time with their family. And so they begin. I did the same.

Like many women business owners, I began my business while I had a full-time job and took the leap when I felt business had built up enough to support me. I began by focusing on the retirement niche, believing that their would be a ton of people who needed to figure out with all the time they had on their hands after they retired. In spite of a discussion with Howard Stone advising me against the name, I chose “Radical Retirement” as my company name, developed a membership site and launched….I gave up about a year later. (But I still have material, which is why I’m selling my remaining copies of Howard’s book, Too Young to Retire for 97 cents.)

I stuck with life coaching, but began to add one or two business clients into the mix. My next niche attempt was relationships. I worked that one hard, even getting on some television shows in Sacramento, with disastrous results. Fortunately, I did help some women through some tough times, learned a lot about relationships that still come into my work today (Women business owners bring everything to work!) and produced a great product which will be showing up on my sales page soon.

Business kept calling me and finally I decided to pay attention, this time focusing my niche on women business owners. I’ve learned a lot in the last 3-4 years about the unique way that women approach starting a business.

The result? My meandering approach is pretty typical. How about you? Leave me a comment below.

The Loss of the Man on the Floor

caseydawes — Mon, 22 Feb 2010 21:30:26 +0000

In the 1990s there was a great rush to outsource to “anywhere but the US.” The rational was to save money because the outsourced tasks were repetitive and non-essential. Innovation and management could be done in America, it was reasoned, because that was the part of the business that required experience and specialized industry knowledge.

Outsourcing has also hit the small business world, with many sending their virtual assistance, web development and even bookkeeping to the far shores. (Full disclosure–I have used a Malaysian web developer. He was quite good.) As our country suffers from the highest unemployment rates in decades, it’s easy to see one consequence of this strategy. However, there’s not a lot of discussion about another result, that I’d like you to think about.

For years, companies had suggestion boxes on the floors of their factories and in their offices. Innovations came from everywhere, especially from people who did repetitive labor. They could see where cost and time savings could be made. Because they weren’t always in danger of losing their jobs, or looking for another one, they had a vested interest in improving their work environment.

We don’t make this investment in people anymore and they don’t make it in our companies. We’ve lost a lot because of it. What can you, as a woman entrepreneur do to encourage innovation and improvement from your employees and contractors?

Add your comment below…

CA Women Entrepreneurs Write Your Legislators!

caseydawes — Fri, 19 Feb 2010 18:47:42 +0000

During the last NAWBO-Silicon Valley meeting, our Public Policy Director told us about a new plan introduced by California Senate President Pro Tem Darrel Steinberg that will negatively affect all small business owners in California–particularly women business owners. The plan requires all companies employing independent (1099) contractors to withhold 3% of monies paid for work for the state government. It means if you are a 1099 contractor, you won’t get 3% of your payment until you file taxes the following year.

This will significantly hit women-owned businesses because, in general, women-owned businesses are smaller in size. Not only will you be penalized the 3%, you will need to spend more on bookkeeping and accounting to track off of this information. This proposal simply creates more paperwork and hassle for companies already operating on a shoestring.

Email, call and write a physical letter to ALL your California legislators protesting this unfair law because:

It will kill jobs
It requires withholding for individuals and companies outside of our legal boundaries
Independent contractors already paying quarterly taxes
Squeezes finances of already hard-pressed solo-preneurs and other small business owners
Doesn’t really generate any new revenue for the state
Targets those people already complying with the law and paying taxes
Requires state to pay for changes to existing systems
Requires small business owners to incur more expense through additional accounting, bookkeeping services and system changes
Requires small business owners to do the government’s job at no additional benefit to the state or the small business owner

Act today!

Women Entrepreneurs–Learn How to Set Up Your Customer Management System

caseydawes — Tue, 16 Feb 2010 17:41:00 +0000

When I coach a woman entrepreneur, I encourage them to apply a laser focus to their lives and business, eliminating what is no longer serving them and embracing the things that will help them move forward.

I also apply the same discipline to myself. Tax time is a great time to clean out old inventory, files and thoughts. This year, my cleanliness is your gain! Over the next few weeks I’ll be putting good products on sale–products that can help you manage your business more efficiently, become more profitable, embrace new relationships and find joy in your life.

Check in to the small business sales page weekly and take advantage of these limited time offers!

Five Things Your Customers Are Dying to Tell You

caseydawes — Thu, 11 Feb 2010 18:30:34 +0000

Women are starting new businesses in record numbers. As they move from corporate America to following their own dream, however, they find that they are taking on tasks that they may be unfamiliar and uncomfortable with — in particular sales and marketing. To add to that the marketing and sales arena is in a large state of flux. Is social media marketing the best thing since sliced bread? Yes! No! Maybe….since a recent report from Advertising Age states that only 25% of people trust their friend’s recommendations, down from 45% in 2008.

Of course, it does depend on your definition of “friend.”

However, there are some truisms about marketing and selling that really haven’t changed, no matter what the method (or channel in marketing-speak) is that you use.

If they could speak directly to you, your customers might tell you…

1. It’s not about you — it’s about me. Find out what I want. Don’t just sell me an organic Egyptian cotton 3,000 count sheet set in orange because you happen to like it. Maybe I’m a flannel sheet kind of gal, or a satin sheet kind of guy. Research what I want — because I’m the one paying you money.

2. I’ve seen and heard it all (yawn). You’d better catch my attention within the first five seconds or first sentence of reading — or I am out of here! There’s so much calling for me — television, Internet, billboards, my kids. I’m on information overload!

3. Don’t tell me what it does, tell me how it’s going to make my life better. Take the aforementioned sheets. Will it help me sleep better? We all need more sleep! And now that I’ve got these hot flashes, perhaps I need sheets that come with small fans?

4. Price doesn’t matter, unless it does. If I think that you have something that I want, I will find a way to get it. My parents would have saved, but I have discovered the wonders of credit, although, I’m rethinking that position. However, if I am a person who truly believes in a budget, and what you are selling isn’t in my budget, no amount of value will make me buy it. So price your goods and services at a price that reflects its value, not what you think I’m willing to cough up.

5. Once I buy something from you, treat me really well. Make me feel exclusive. There are many other offers out there that are enticing. It’s going to cost you less to keep me as a customer, buying more things from you than it will be for you to get a new customer. Remind me about once a month about how you can make my life better. Then, when I am ready for the next widget, I’ll call you.

Any other tips you’d like to offer?

5 Steps to Organizing Your Small Business

caseydawes — Mon, 08 Feb 2010 18:18:44 +0000

5 Steps to Organizing Your Business

It must be tax time. Papers are taking over my living room and the shredder is working full blast. After I turn everything over to my accountant in March, I know I will feel lighter. But getting there is half the battle!

If you want to use this snowed-in/ rained-in tax time to make the rest of your year more easy, here’s five suggestions that work for many women entrepreneurs.

Conquer the Paper Dragon. Set aside time to file every week. Once or twice a year (spring and fall are nice), go through your papers and get rid of things. Are you keeping past client files that are over five years old? Even if the client came back, would those files be relevant? Check with your accountant to purge those financial papers. We don’t have to keep everything. Make sure that you have enough storage, but not too much. Have storage that is attractive, colorful and easy to find things in. Musty papers in musty paper boxes are so 20^th century! Keep your active storage away from your old storage. Only surround yourself with things that you actively need. Of course, you will need to conquer the fear of throwing things away. Some of us are just more comfortable in clutter. Others like the minimalist lines of the Zen tradition. If clean space terrifies you, then you need to find a coach or therapist that can help you actively define how much clutter is enough and how much is a sign of a serious problem. (I once had a client that had three storage units, one of which she hadn’t been in for 15 years!)
Tame Your Time. Check your activities against your goals. Ask yourself the question, “What are you doing to keep yourself from doing more important things?” Make sure that you give yourself time to handle the “big rocks.” These are the things in your business that will bring you money in the quickest amount of time. It’s easy to get sucked into the online world of email, Twitter, Facebook and other social networking sites. How much time are you spending fighting other people’s fires? Make sure that there is enough time in your day for self-care. A five minute walk can save you an hour-long visit to the doctor later. Time with loved ones is good for you AND for your relationships.
Develop Repeat Processes. Try to do the same things the same way. Stick to the way you are doing it and tweak it. This is a lot more effective than re-inventing the process over and over again. Write it down so you remember what you did. Have someone else try to follow your process from your notes. (We all make assumptions!) What can you delegate to someone else? It’s a lot easier if you have a developed, repeatable process. Print out your processes and put them in an Organizational Manual. Copy and distribute the manual to the people who need it!
Delegate. Keep a notepad going. Every time you do a task, particularly those you don’t like to do, consider if it could be delegated. If it can, write it down on your list. After you develop the process you want used, delegate it! Think of tasks outside your business, too. Cleaning, laundry, even food-shopping and prep can be delegated!
Handle the Worries. Do you realize how much time worrying about things takes? Have financial worries? (Who doesn’t, these days?) Develop a plan. Find a financial partner who can help you brainstorm ways to get your finances handled. Even the president has advisors help him with finance. Is there something nagging you in your primary relationship or with your children? Get help and handle it. It won’t go away by itself. It will just get worse and take up even more of your time. The same is true with annoying and aggravating customers. Do some analysis. You may find that the customer who eats most of your time is the customer giving you the least amount of money. When you factor in the cost of your time, you may find you are actually losing money! Finally, handle your tolerations. What are you putting up with that is a mind drain? Do you need a new computer? Get one. Is the light out in the hallway? Replace the bulb. Hate your weight? Handle it. Until we handle the tolerations, we never know how big a problem they are.

So there you go – 5 Steps to a More Organized Business! Add your own smart ideas for organizing your business below!

2010 Trends for the Entrepreneur Woman in Silicon Valley

caseydawes — Sat, 06 Feb 2010 17:01:49 +0000

Many business imperatives have been like shifting sand over the last year. As 2009 closes and 2010 begins, however, some trends and directions are starting to emerge that the woman business owner in Silicon Valley needs to pay attention to.

Large employers are shifting to more temporary workers and firms. That doesn’t only include administrators and payroll clerks; large functions such as cloud computing are being outsourced from the large tech companies in the valley. How can your woman owned business take advantage of this? Consider getting certified by WBENC so that you can fit employers’ needs for diversity hiring.
Social media as a marketing tool has arrived. Learn how it works, get involved and most important make it an integral part of your marketing strategy. Wise Woman Shining is working on a webinar that will help you pull your marketing and social media strategy together in a way that aligns best to support your business.
Green technology continues to be a growing business in the valley. What do these companies need that you can supply? Or, perhaps you can support their suppliers. Connect with other small companies that provide green business support and find out how they do it.
Bilingual services are a huge need. Do you have people on your staff who can speak more than one language fluently? How can you promote this ability to your clients and customers? Are your products and instructions available in more than one language? If not, now is the time to make the change.
Sometime in 2010, the workforce will be comprised of over 50% female workers! Now if we could only earn as much as our male counterparts! How is this going to change the face of work? How can you be a leader in a movement that embraces us all as human beings and acknowledges the differences of men and women, and supports the needs of our children, elder parents and others in our circle who are in need?

Wise Woman Shining will continue to monitor this space and let you know our observations about women business owners and entrepreneurs. Check our blog and follow us on Twitter to receive up-to-date insights.