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August 26, 2008

Top Tips from Successful Women Entrepreneurs

  1. Create a unique product or service – that will give you an edge over your competitors Linda Bennett, founder of LK Bennett
  2. Decide what type of person you are – an organised manager or a creative type, and employ the opposite Marilyn Orcharton, Founder of Denplan
  3. Invest in technology that can grow with you early on – Penny Streeter, Ambition 24 Hours Group
  4. Get the right mentors – Glenda Stone, founder of Aurora and WhereToWork.com
  5. You know more than you think you know – Julie Meyer, Founder of Ariadne Capital
  6. If things don’t work take responsibility for it yourself and don’t blame others – Michelle Mone, MJM International, creator of the Ultimo bra
  7. Know what you want to do and be known for doing it – Yvonne Thompson, founder of European Federation of Black Women Business Owners and ASAP Communications
  8. Enjoy it! – Helen Swaby, DeMontfort Fine Art

August 25, 2008

Building a strong executive team

Today I have just put the finishing touches to the job specification for Managing Director of our company, Mission Possible.  It's an exciting time, preparing to hand over the reins of something I have worked hard to build, and hoping that the strong foundations will support and help a new person leverage even more opportunities for the business.

I am not leaving but believe that my strengths and talents can be balanced by someone who can bring complementary skills and experience - and different ideas too!  Research shows that getting the right people in your team is the biggest and most critical investment that a small business can make.

Too many small businesses suffer because the owner is reluctant to give up control and consequently it can limit the growth of a business and the ability of the employees to maximise their strengths. So, with a deep breath, I have taken the plunge and now wait to see what happens.....

Will keep you posted!

August 18, 2008

The I's have it

Technology - love it or hate it, you have got to admit that it has transformed our lives over the last few years - especially the I's. This week the I's have it - three things that have been really beneficial to me....

1.  iPhone - I have got a fab new gadget - the iphone bluetooth headset - its sleek, compact and has a very good sound quality.  Still think the iPhone is the best gadget I have got this year!

2. Interactive - Doing a radio interview with a Spanish radio station - how its so clear on a telephone line to Spain.

3. iPlayer - to catch up on all the Olympic coverage I missed when its convenient.

August 14, 2008

Survival Strategies for Work

Imagine the scenario. You have a proposal to send out and the printer breaks down. Then your supplier calls to say the products they are sending will be late. Meanwhile you still have to collect your child from day care and prepare a presentation for a conference tomorrow. There just seems to be not enough time for everything to be done and this can be a typical day for small business owners. So how do you survive?
There are no simple answers, but there are four rules that have helped me in extremely tough situations in the Arctic that can equally apply to business:

Become of aware of what you focus on. Having the ability to focus on the short-term and the long term simultaneously is a valuable skill to have in a rapidly changing environment. Immediate problems can threaten your motivation and it’s important to remember to focus on what you can control, rather than what you cannot. All too often we spend too much time and energy focusing on the things that frustrate us rather than the things that give us pleasure. In the Arctic, it’s the choice between thinking about how cold and tired you are, or focusing on the stunning landscape and marveling at how lucky you are to be able to appreciate this remote place.

Manage your emotions. When pressures get to us, we all behave in different ways. Some people may get angry and look for other people to blame, whilst others may feel out of control and helpless. But whatever we do, our emotions will impact on our motivation, and if we want to perform to the best of our ability, we need to learn to acknowledge and manage our emotions. On our Greenland expedition, I began to realise that I couldn’t keep up with the others in the team. The guy in front got frustrated with me and I felt inadequate and worthless. The pressure began to build and could have exploded if we both had not managed our emotions effectively. In the end I realised that crying was no good (my tears just froze) so I just had to change my mindset and think of the qualities I had that were valued in the team such as my sense of humour and organisational skills.

Attention to detail is critical. In the Arctic it can take just one silly error to jeopardise your life. If you put down your gloves instead of inside your jacket, they can blow away if a sudden gust of wind appears. Lack of gloves could result in frostbite. It’s the same in the workplace, it’s not good enough to let a letter go out with the incorrect spelling of a name, as that’s probably what the customer will notice and remember. In a competitive world, the biggest factor that differentiates good from average service is attention to detail.

Be yourself. One of the most important abilities you need to have if you want to maintain your motivation is to just be yourself. It’s important to think about what you value, such as fairness, or honesty and then try to live up to those beliefs. Sometimes in business, people behave in a way that they think other people expect, rather than just being themselves. Authentic people stand out because what you see is what you get.

August 13, 2008

How to run a gold medal business

We are now in the middle of the Olympics and every evening I watch the highlights on TV.  I marvel at how the athletes can pull exceptional performance out of the bag, when the pressure is on and there are hundredths of a second between win or lose.

So having achieved the heady heights of running for Scotland in athletics here are my five tips to help you run a gold medal business:

1. Never give up.  If you are really determined to succeed then its amazing what you can achieve. Keep going until you are forced to quit or win!

2. Focus on your own, not your competitors performance.  It can be easy to get distracted (just like the UK sychronised diving team did) and start thinking about other things. It might be what do others' think, what are your competitors doing, or why results are not as good as previous years.  Make sure you keep focused on what you can control.  If you do your best then that's all you can ask of yourself.

3. Develop self-belief.  Practice developing your "can do "mindset.  Write down one success that you achieve every day and what you were thinking when you achieved that success.  Use it as a motivational tool on the days when you feel less positive.

4. Practice being competitive.  This does not always mean win-lose.  Compete against yourself - how can I improve what I did yesterday?  What is my new target?  Research your competitors in business and identify what their gaps are, and look to excel in those areas.  This might seem at odds with point 2, but you can do the research and then use it to your advantage, in the heat of the "moment" when pitching for business, or creating your marketing materials.

5. Look after yourself.  Your business will only be successful if you are able to run it effectively.  Take time for relaxation, eating healthily and having some change of scene outside the work environment. By having diverse interests, you can get inspiration and ideas from other places.

August 10, 2008

Wise women and Wise Pack

Wise Women
Just back from Chicago where I attended the Women President's Organisation annual facilitator training event.  What I love about attending this meeting is the amount of enthusiasm that you experience from being in a room with 50 other dynamic business women. Everyone is so willing to support and help each other, that you can't fail to become motivated and enthusiastic.  Mind you heaven help any presenter that doesn't quite come up to the mark - it won't be long until they find this out!

If you are struggling with the economic downturn, or thinking that you are the only person who has your issues, try to seek out positive people, who have a can-do attitude.   It will help you get revitalised and realise that you are not alone.

Wise Pack

One of the facilitators, Myrna Marofsky was telling me about her latest business, Wise Pack. These are fab travel backpacks that have been designed by women for women.  The company was started by Myrna and her business partner Karen Stinson.  As owners of a successful consulting business for over 20 years, they traveled thousands of miles around the world and knew what it is like to stand in long security lines AND meet with clients all in one long day.

As those miles began to wear on their bodies and souls, they searched for ways to make the long travel days easier. Typical of women-on-the-go, when there was no solution, they created one. Then they consulted with other women travelers, and tested the bag for two years to make sure they added features that met the needs of these women. And so was born the WisePack™.  Now, as Grandmothers-on-the-go they are non-stop users of the WisePack™ adding to their uses, nappy bag, carrier of toy trucks and cars, and "sensible" shoes for long journeys. The uses for this bag never stop.
I will be ordering one before my next travel for sure!

August 03, 2008

Learn to love silence

Last night I was listening to a podcast where the editor of Ad Age was speaking about the role of traditional advertising in 2008.  I hope he listened to it himself and gained some useful feedback.  What I noticed was the incessant use of the phrase "you know" after nearly every sentence and after 30 minutes it was wearing a bit thin.  I had stopped listening to the content and was only listening for the phrase.

So for anyone who does public speaking (like I do) or records podcasts, the most useful thing you can do is to record your sessions (as you will be if you are making a podcast) and then listen to them again.  Try to put yourself in the shoes of the audience and listen for any annoying ehs, uhuhs or such things.

Often people use these sorts of phrases because they don't like silence and try to fill it up.  The skill of a presenter or an interviewer for a podcast is to relish the silence.  Its gives the listener time to analyse what is being said and to prepare themselves for the next part of the session. So go on......learn to love silence!

August 02, 2008

Rockstar to provide mentoring service for Mission Possible

This week we have teamed up with Rockstar Group to provide a great additional service for Mission Possible users, in the shape of a mentoring programme which also provides as access to potential finance for start up or growth.

I came across Jonathan Pfahl, founder of Rockstar when he posted a message on a forum that I subscribe to - which reinforces the points made in Anna Farmery's latest article on our site about how to create loyalty through social media.

Originally from Sydney, Jonathan has spent his entire business career in setting up companies and investing in both shares and property.  He moved to London in January 2005 and began work on his newest company group, Rockstar.

Constantly being in an environment of like-minded entrepreneurs and people who are wanting to become entrepreneurs, Jonathan realised very swiftly that there are so many switched on, like minded entrepreneurs in this country, who have fantastic business ideas, but simply lack the experience and support to turn their business dreams into reality. "That is essentially what Rockstar is all about" he says. His aim is to show anyone with a business idea, or with a small business which they are looking to grow that it IS possible! you just need the right support to make it happen." 

This is obviously in line with what Mission Possible offers and our complementary services work well for users. The Rockstar Group offers affordable mentoring for entrepreneurs looking to start or grow their business. Through a combination of one to one mentoring on an on-going basis and continual promotion of your products and services to key customers, the team at Rockstar are dedicated to seeing their members businesses succeed.  I am one of their mentors, so its bound to be successful!