A REFRESHING REALITY
There was a really interesting article in the NY Times a few weeks ago by Peggy Klaus (workplace communication and leadership expert) entitled, “A Sisterhood of Workplace Infighting”. (The article was brought to our attention by IGC member, Rossanna Figuera.
Among other things, Peggy discusses the all too common bullying behavior that goes on between women in the workplace. I think many of us have experienced this in some form or another. So, while the phenomenon may seem a counter-intuitive trend in the face of the women’s movement, present day equality and representation-oriented workplace initiatives, and some of the more positive female stereotypes of nurturing and compassionate behavior, it is not a surprising one.
I have to admit though, reading this made me so immensely grateful and proud of the in good company community and membership. While we were shopping this idea (a community workspace for women entrepreneurs) around to folks during our start-up phase many people, both men and women, expressed concern about the potential for catty and bitchy behavior in a workplace for just women.
While we certainly didn’t expect that would be true - thank goodness the concern was for naught!
Everyday we observe members to be helpful and supportive towards each other, often offering strategic advice, contacts, resources, and ideas. We have witnessed this collaboration and collegial expression even between members in the same industry who could choose to view themselves as competitors.
You can speculate about why IGC is home to these overwhelmingly warm and positive interactions…perhaps it is because we are not all part of the same company. Or perhaps it is because there is a marked (though not complete!) absence of men. Or perhaps it is because as entrepreneurs we experience everyday the benefits of helping each other and paying it forward. Or perhaps it is because we are only a part-time location for even our most frequent members.
But for whatever the reason, I am glad to work with you all! And I am glad to see that there are places where this female bullying doesn’t exist!
Posted by Adelaide Fives
January 16, 2009
COMPANY YOU KEEP - MEMBER DIGEST
Archived versions of our monthly member digest are now available!!
For those who haven’t read them before, the digest is our way of sharing with you (women business owners, entrepreneurs – aspiring or otherwise) some of the best news on small business ideas, models, and innovation that we discover. The content has been filtered because it makes us think differently and critically about entrepreneurship and our business. We hope it will challenge and enhance your thinking too!
In each Digest you will find at least 4 sections:
Mindset: Topic-based thoughts from Adelaide Fives & Amy Abrams
Business LookBook: An interesting, innovative, and thought-generating business or business concept.
Clippings: Relevant and thought-provoking articles and news
Musings: A recap of our blog posts…(which if you are reading this here, you can already see!!)
Our Archive Home Page
And as a short cut, here are links to:
Jan Digest
Dec Digest
Nov Digest
Oct Digest
Happy Reading & Thinking!
Adelaide & Amy
Archived versions of our monthly member digest are now available!!
For those who haven’t read them before, the digest is our way of sharing with you (women business owners, entrepreneurs – aspiring or otherwise) some of the best news on small business ideas, models, and innovation that we discover. The content has been filtered because it makes us think differently and critically about entrepreneurship and our business. We hope it will challenge and enhance your thinking too!
In each Digest you will find at least 4 sections:
Mindset: Topic-based thoughts from Adelaide Fives & Amy Abrams
Business LookBook: An interesting, innovative, and thought-generating business or business concept.
Clippings: Relevant and thought-provoking articles and news
Musings: A recap of our blog posts…(which if you are reading this here, you can already see!!)
Our Archive Home Page
And as a short cut, here are links to:
Jan Digest
Dec Digest
Nov Digest
Oct Digest
Happy Reading & Thinking!
Adelaide & Amy
OFF TO A GOOD START
This week we had a great Consultants Connection Meeting, where we discussed “Cleaning Out Our Clients”. Participants had an opportunity to categorize their current client list consider both profitability and value (other rewards besides money that you may get from working with certain clients, such as contacts, challenge, diversification into a new field or industry, fodder for a book or article, that feel good feeling).
Once we identified the types of clients that we had, we then had the chance to think about those relationships as part of our larger business strategy.
* What makes a client both high value and high profit? How do you get more of them?
* What can you do to increase the profitability of those clients that are high value but low profit? What impact does having a large/disproportionate amount of these clients have on your business? (i.e. Opportunity costs!!).
* What can you do to decrease the negative impact of low value clients, even if they are high profit?
Folks suggested partnering with other professionals who may be better equipped to service these clients or help you with the parts you don’t like. Other people suggested weeding these clients out through better screening before the engagement begins.
* Lastly, what should you do about low value, low profit clients?
Get rid of them!! They are taking up valuable time and energy that can be better spent on better clients!
Further insights were discussed, such as:
* The role that marketing plays in both attracting the clients of clients you have AND setting expectations for the way the work gets done.
* Also, participants considered the a lot of troublesome client behavior can be mitigated through both good screening and good coaching about client expectations and boundaries.
It was, as always, refreshing and encouraging being able to discuss these common challenges with such smart and strategic women…I think we all left with tons of food for thought! Thank you to everyone who participated for your WONDERFUL contributions!
posted by Adelaide Fives
Once we identified the types of clients that we had, we then had the chance to think about those relationships as part of our larger business strategy.
* What makes a client both high value and high profit? How do you get more of them?
* What can you do to increase the profitability of those clients that are high value but low profit? What impact does having a large/disproportionate amount of these clients have on your business? (i.e. Opportunity costs!!).
* What can you do to decrease the negative impact of low value clients, even if they are high profit?
Folks suggested partnering with other professionals who may be better equipped to service these clients or help you with the parts you don’t like. Other people suggested weeding these clients out through better screening before the engagement begins.
* Lastly, what should you do about low value, low profit clients?
Get rid of them!! They are taking up valuable time and energy that can be better spent on better clients!
Further insights were discussed, such as:
* The role that marketing plays in both attracting the clients of clients you have AND setting expectations for the way the work gets done.
* Also, participants considered the a lot of troublesome client behavior can be mitigated through both good screening and good coaching about client expectations and boundaries.
It was, as always, refreshing and encouraging being able to discuss these common challenges with such smart and strategic women…I think we all left with tons of food for thought! Thank you to everyone who participated for your WONDERFUL contributions!
posted by Adelaide Fives
December 5, 2008
A HIP HOP HAPPENING GOOD TIME
Wow. What fun we had at our holiday party on Wednesday night!
How exciting to kick back and have fun with so many in good company members.
It was such a rewarding experience to see so see our amazing and strong community and to have the chance to celebrate in good company.
We are very clear that we owe everything to our members and we are so thankful for all of your enthusiasm and graciousness. It is such a gift to witness how many of you have strong independent relationships with each other and how much admiration and respect you have for each other. And Amy and I consider ourselves very lucky to get to know and work with you all!
A BIG thank you to Betsy from ninecakes for the delicious cupcakes. They were amazing and the talk of the party. Betsy's cupcakes are divine tasting and the perfect size to sample all the amazing flavors...the ginger was to die for, the peppermint was amazing, and I apparently wasn't quick enough to get one of the mayan chocolate flavored...next time!
And, another BIG thank you to our expert gift wrappers and gift donators. Through the gift drive, our community contributed 50 beautifully wrapped gifts for the teen girls served by Step Up Women's Network.
And, for those of you who wanted access to the music that was playing, I upload much of the mix to the itunes iMix section (click music, then iMix) you can search under "IGC Holiday Mix" to find it.
We ended up getting too distracted by the conversation and good times to take as many pictures as we had wanted, but here are a few:
We ended up getting too distracted by the conversation and good times to take as many pictures as we had wanted, but here are a few:
November 18, 2008
Only, First, Best? REALLY? Keep it to yourself!
I was recently looking at the corporate underwriting (advertising) opportunities on my local NPR station - WHYY in Philadelphia and was struck by their submission guidelines.
They permit your "spot" to include the following:
• Names of products or services
• Non-promotional, value-neutral description of products or services
• Company location and number of years in business
• Telephone number, e-mail address or Web site address
They DO NOT permit:
• Comparative or qualitative descriptions of products or services
• Superlatives (e.g. "best" or "biggest")
• Price references, even if the product or service is free
• Calls to action or inducements to buy
• Third party endorsements from newspapers, magazines, etc.
HOW REFRESHING!!!
No wonder their advertisements aren't so annoying to hear!
No wonder I have such a positive image of many of their sponsors (even though I may have no direct experience as a consumer of many of these businesses and organizations).
What if all advertising had this much integrity?
Can people be just as effective without grandiose claims or negative digs?
(ps, both political campaigns could have received some good counsel from this policy.)
I have heard the conventional wisdom that supports the stating of numbers, the cattle call of achievements, heightened sense of urgency, and the slighting of others as effective advertising tools.
However, in most cases, I have to disagree.
I think the NPR kind of guidelines instead make you focus more closely on articulating your value proposition and underlying goal.
What your business does and why is then left to stand on its own, uncluttered by boisterous empty phrases.
Devoid of gimmicky language or sales-y speak, this kind of advertising forces a genuine and candid exchange between you and the consumer, mano a mano, as they say.
It makes you think....
* What would your NPR ad say?
* Would this position your company strongly?
* Would you be confident in your message?
posted by Adelaide
They permit your "spot" to include the following:
• Names of products or services
• Non-promotional, value-neutral description of products or services
• Company location and number of years in business
• Telephone number, e-mail address or Web site address
They DO NOT permit:
• Comparative or qualitative descriptions of products or services
• Superlatives (e.g. "best" or "biggest")
• Price references, even if the product or service is free
• Calls to action or inducements to buy
• Third party endorsements from newspapers, magazines, etc.
HOW REFRESHING!!!
No wonder their advertisements aren't so annoying to hear!
No wonder I have such a positive image of many of their sponsors (even though I may have no direct experience as a consumer of many of these businesses and organizations).
What if all advertising had this much integrity?
Can people be just as effective without grandiose claims or negative digs?
(ps, both political campaigns could have received some good counsel from this policy.)
I have heard the conventional wisdom that supports the stating of numbers, the cattle call of achievements, heightened sense of urgency, and the slighting of others as effective advertising tools.
However, in most cases, I have to disagree.
I think the NPR kind of guidelines instead make you focus more closely on articulating your value proposition and underlying goal.
What your business does and why is then left to stand on its own, uncluttered by boisterous empty phrases.
Devoid of gimmicky language or sales-y speak, this kind of advertising forces a genuine and candid exchange between you and the consumer, mano a mano, as they say.
It makes you think....
* What would your NPR ad say?
* Would this position your company strongly?
* Would you be confident in your message?
posted by Adelaide
November 7, 2008
SELF-EMPLOYED / SOCIAL SCIENTISTS
The SBA Office of Advocacy published an interesting report by economist Dr. Chad Moutray called: Baccalaureate Education and the Employment Decision: Self-Employment and the Class of 1993.
The study found that "College graduates who specialize in social science tend toward self-employment as compared to those with bachelor’s degrees in other subjects".
Interesting, no? Any other social science majors out there? As for me, I double majored in Sociology/Anthropology and Educational Studies...so this finding can certainly be generalized to me!
The study doesn't posit any theories on the correlation, but instead leaves us to our own musings...
* Perhaps it is because we social science majors are interested in the nuance and complexity of the social world. We see the interconnections and linkages between themes, patterns, systems, and people.
* Or perhaps, it is because most social science majors graduate asking the question, "What can you really do with a degree in XYZ?". And because of this we are left to our own creative devices when it comes to career development.
* Or perhaps it is because the study of social sciences instills in us an inquisitive tradition, encouraging us to go about the world asking "why things are the way they are?" and "under what circumstances could they be different?"
For what it is worth, Moutray also found "that business and management majors are more likely to work in for-profit businesses while those with specialized degrees such as health, education, or biology are more likely to end up working for non-profits and the government."
And, that "race, ethnicity, and gender did not play a large role in who became self-employed."
However quite humorously, the study found that a student’s motivation as measured by a series of “values” questions in 1993, closely tracked with employment decisions a decade later.
"Those who valued job-security were more likely to be government employees, those who desired intellectual challenge were likely to work in non-profits, and those who did not highly value prestige and status were more likely to be self-employed."
All of this seems so true to me! Although, the fact that the students didn't highly value prestige and status may have explained why they (we) were social science majors in the first place!
posted by Adelaide
The study found that "College graduates who specialize in social science tend toward self-employment as compared to those with bachelor’s degrees in other subjects".
Interesting, no? Any other social science majors out there? As for me, I double majored in Sociology/Anthropology and Educational Studies...so this finding can certainly be generalized to me!
The study doesn't posit any theories on the correlation, but instead leaves us to our own musings...
* Perhaps it is because we social science majors are interested in the nuance and complexity of the social world. We see the interconnections and linkages between themes, patterns, systems, and people.
* Or perhaps, it is because most social science majors graduate asking the question, "What can you really do with a degree in XYZ?". And because of this we are left to our own creative devices when it comes to career development.
* Or perhaps it is because the study of social sciences instills in us an inquisitive tradition, encouraging us to go about the world asking "why things are the way they are?" and "under what circumstances could they be different?"
For what it is worth, Moutray also found "that business and management majors are more likely to work in for-profit businesses while those with specialized degrees such as health, education, or biology are more likely to end up working for non-profits and the government."
And, that "race, ethnicity, and gender did not play a large role in who became self-employed."
However quite humorously, the study found that a student’s motivation as measured by a series of “values” questions in 1993, closely tracked with employment decisions a decade later.
"Those who valued job-security were more likely to be government employees, those who desired intellectual challenge were likely to work in non-profits, and those who did not highly value prestige and status were more likely to be self-employed."
All of this seems so true to me! Although, the fact that the students didn't highly value prestige and status may have explained why they (we) were social science majors in the first place!
posted by Adelaide
November 2, 2008
Feng Shui 101 – Enhancing Your Life by Enhancing Your Space
posted by Ann Bingley Gallops, of The Organized Life
There was great energy in the room for my “Feng Shui 101” workshop on October 21! Everyone who came was interested in learning how to improve their lives with Feng Shui, the art and science of enhancing your life by enhancing your space.
Feng Shui has been used for thousands of years and is still a very big part of Chinese culture, slowly making its way to the West. In fact, Feng Shui is all around us. One prominent personality, Donald Trump, has been using it in all his buildings ever since he found out that Feng Shui could help him make more money!
If you weren’t able to make it and are curious about some of the things we talked about, here’s a sample:
Everything in our surroundings has a physical and psychological effect on us. Feng Shui enhances the beneficial aspects of our environment, while minimizing the not-so-beneficial ones. It’s about enhancing your health, abundance and well-being, so that you’re better equipped to live the life of your dreams.
Feng Shui literally means Wind & Water, which is a great metaphor for describing one of its most important concepts: how chi (life force) energy flows in our lives. It aims to harmonize our man-made environments with the ways of nature. For example, Feng Shui doesn’t like straight lines or sharp corners because nature doesn’t create things that flow this way: they’re unnatural.
Feng Shui works on two levels: knowing which changes need to be made, and knowing why you’re making them. It identifies how chi flows and where it is blocked, because blockages in your space are likely to correlate with where you are blocked in your life. Feng Shui “cures” are designed to correct those blockages.
We use three tools to analyze and work with any space: Yin & Yang, the Bagua (energy map), and the Five Elements. These tools were developed in ancient China as a way to identify the dynamics in any space.
Yin & Yang symbolize the balance of “feminine” and “masculine” polarities in a space.
The Bagua is an eight-sided energy map that describes the most important parts of your life. It’s the tool we use to align your space with your life so that you can bring intention and purposefulness to every important part of your life including your career, your love life, your health and more.
Finally, the Five Elements – Wood, Fire, Earth, Metal and Water -- are used to balance and harmonize specific visible and invisible energies in your space.
Here are just a few more key concepts: place the most important piece of furniture in each room in “the Command position”, which is in the place farthest from the door, slightly diagonal to it (think of the best seat in the restaurant!). This will give you the best vantage point from which to be in control of your environment.
And of course, clear clutter! If there’s one thing that “chi” gets stuck on, it’s clutter: you can’t have good Feng Shui in a cluttered environment! And things that are well-cared-for signify your intention to take the very best care of yourself, too!
There’s so much more, so I hope you’ll take one of my future workshops at IGC, or give me a call at 646-382-3878 to find out more.
posted by Ann Bingley Gallops, of The Organized Life
posted by Ann Bingley Gallops, of The Organized Life
There was great energy in the room for my “Feng Shui 101” workshop on October 21! Everyone who came was interested in learning how to improve their lives with Feng Shui, the art and science of enhancing your life by enhancing your space.
Feng Shui has been used for thousands of years and is still a very big part of Chinese culture, slowly making its way to the West. In fact, Feng Shui is all around us. One prominent personality, Donald Trump, has been using it in all his buildings ever since he found out that Feng Shui could help him make more money!
If you weren’t able to make it and are curious about some of the things we talked about, here’s a sample:
Everything in our surroundings has a physical and psychological effect on us. Feng Shui enhances the beneficial aspects of our environment, while minimizing the not-so-beneficial ones. It’s about enhancing your health, abundance and well-being, so that you’re better equipped to live the life of your dreams.
Feng Shui literally means Wind & Water, which is a great metaphor for describing one of its most important concepts: how chi (life force) energy flows in our lives. It aims to harmonize our man-made environments with the ways of nature. For example, Feng Shui doesn’t like straight lines or sharp corners because nature doesn’t create things that flow this way: they’re unnatural.
Feng Shui works on two levels: knowing which changes need to be made, and knowing why you’re making them. It identifies how chi flows and where it is blocked, because blockages in your space are likely to correlate with where you are blocked in your life. Feng Shui “cures” are designed to correct those blockages.
We use three tools to analyze and work with any space: Yin & Yang, the Bagua (energy map), and the Five Elements. These tools were developed in ancient China as a way to identify the dynamics in any space.
Yin & Yang symbolize the balance of “feminine” and “masculine” polarities in a space.
The Bagua is an eight-sided energy map that describes the most important parts of your life. It’s the tool we use to align your space with your life so that you can bring intention and purposefulness to every important part of your life including your career, your love life, your health and more.
Finally, the Five Elements – Wood, Fire, Earth, Metal and Water -- are used to balance and harmonize specific visible and invisible energies in your space.
Here are just a few more key concepts: place the most important piece of furniture in each room in “the Command position”, which is in the place farthest from the door, slightly diagonal to it (think of the best seat in the restaurant!). This will give you the best vantage point from which to be in control of your environment.
And of course, clear clutter! If there’s one thing that “chi” gets stuck on, it’s clutter: you can’t have good Feng Shui in a cluttered environment! And things that are well-cared-for signify your intention to take the very best care of yourself, too!
There’s so much more, so I hope you’ll take one of my future workshops at IGC, or give me a call at 646-382-3878 to find out more.
posted by Ann Bingley Gallops, of The Organized Life
October 24, 2008
OH, BABY(CAKES)!
Wow, what an evening it was!
We had the best time with Erin McKenna of BabyCakes NYC on Thursday night at our second event in the IGC Conversations Series.
Erin was simultaneously hilarious, sassy, inspirational, and SMART in sharing the BabyCakes story. I thought people might start rolling on the floor they were laughing so hard. And did I mention the desserts? Who knew that good-for-you could be SO GOOD!!! Honestly, with the list of things that isn’t in the desserts it is hard to imagine what is, but it should suffice to say that there wasn’t even a crumb left over by the end of the night.
In all seriousness, we really learned a lot and are so grateful to Erin for generously sharing her time and wisdom. Erin story reflected many of themes that we so often hear from those entrepreneurs that we admire.
Though I will never be able to accurately recapture the evening, I do want to share some of the key points!
In addition to her funning and enlightening stories, Erin talked with us about:
Staying True to What You Know.
More specifically, Erin discussed the importance of believing in yourself and the integrity of your concept. We all know that everyone we talk to has opinions (for better or for worse) and it is sometimes hard to know what advice to take and what to leave. This is easier when you are very clear about what your goals and mission are! Erin knew what she wanted to accomplish and what elements would be critical to her success and so she refused to compromise on those. She aspired to create more than just a bakery but also a missing and needed experience for those with food allergies. By keeping that in sight, she was able to deflect unhelpful advice, suggestions, and nay-sayers.
Acknowledging What You Don’t Know.
Erin also talked with us about the importance of identifying the areas where, as an entrepreneur, you need help and assistance. She leveraged many resources to help fill functional gaps in her knowledge – such as the SBA, SCORE, friends, family, professional services, etc. She also talked about how she was able to adopt some key ideas from others and integrate them into her business: such as the idea to partner with like-minded/branded designers to create different uniforms for each season at BabyCakes. It is important to be flexible and open to ideas from the outside in order to make your business as successful as it can be! We are all just one person!
What’s Next?
Erin’s genius has sparked a MOVEMENT and there is lots of opportunity and interest for expansion. She discussed how to be smart about growth and all the things that need to change in order to make room for growth – namely her own role! Like many entrepreneurs, Erin was involved in many of the operating details when BabyCakes first opened (read: frosting), however this type and level of involvement turned out to not only be unsustainable for her as a person but also for BabyCakes as a business. In order to focus on the entity, Erin had to change her role and put systems in place to make BabyCakes more autonomous. She did this successfully and thereby freed up time and energy to focus on the exciting next steps of the business. (Preview: The West Hollywood bakery is opening soon and her CookBook is due out in April and is available for pre-order on Amazon).
Model Businesses.
Erin shared with us some of the businesses that have had the biggest impact on her and how their influence has shown up in Erin’s business.
In particular she mentioned:
1. how Julia Childs validates for her the importance of originality and ingenuity. Julia Childs was always comfortable being herself, even if it was not exactly what you might expect.
2. Also Erin pointed to a restaurant, Chez Panisse, that she worked for in Berkeley, created by Alice Waters. The experience there influenced Erin’s thinking on the cultivation of work atmosphere/culture. Erin discussed how proud each employee was to work at this particular restaurant and what Alice Waters did to encourage and foster that feeling. Erin has worked hard to cultivate a similarly strong and warm culture at BabyCakes. Erin also noted that Alice Water’s personality was so infused with the brand and feeling of the restaurant that even after Alice didn’t spend as much time there, you could tell it was hers.
3. This trait, using the brand as a strong extension of self, is also what inspires Erin about Built by Wendy, Brooklyn based designer extraordinaire, who was the first external designer to collaborate with BabyCakes on their uniforms. Built by Wendy is another business that reflects many of the same qualities that we love about Erin and BabyCakes: innovation, integrity, vision, and authenticity…it should be no wonder that they are so compatible and collaborative!
Another big THANK YOU to Erin! And, all, seriously, you have got to try her goods! They are great.
posted by Adelaide
We had the best time with Erin McKenna of BabyCakes NYC on Thursday night at our second event in the IGC Conversations Series.Erin was simultaneously hilarious, sassy, inspirational, and SMART in sharing the BabyCakes story. I thought people might start rolling on the floor they were laughing so hard. And did I mention the desserts? Who knew that good-for-you could be SO GOOD!!! Honestly, with the list of things that isn’t in the desserts it is hard to imagine what is, but it should suffice to say that there wasn’t even a crumb left over by the end of the night.
In all seriousness, we really learned a lot and are so grateful to Erin for generously sharing her time and wisdom. Erin story reflected many of themes that we so often hear from those entrepreneurs that we admire.
Though I will never be able to accurately recapture the evening, I do want to share some of the key points!
In addition to her funning and enlightening stories, Erin talked with us about:
Staying True to What You Know.
More specifically, Erin discussed the importance of believing in yourself and the integrity of your concept. We all know that everyone we talk to has opinions (for better or for worse) and it is sometimes hard to know what advice to take and what to leave. This is easier when you are very clear about what your goals and mission are! Erin knew what she wanted to accomplish and what elements would be critical to her success and so she refused to compromise on those. She aspired to create more than just a bakery but also a missing and needed experience for those with food allergies. By keeping that in sight, she was able to deflect unhelpful advice, suggestions, and nay-sayers.
Acknowledging What You Don’t Know.
Erin also talked with us about the importance of identifying the areas where, as an entrepreneur, you need help and assistance. She leveraged many resources to help fill functional gaps in her knowledge – such as the SBA, SCORE, friends, family, professional services, etc. She also talked about how she was able to adopt some key ideas from others and integrate them into her business: such as the idea to partner with like-minded/branded designers to create different uniforms for each season at BabyCakes. It is important to be flexible and open to ideas from the outside in order to make your business as successful as it can be! We are all just one person!
What’s Next?
Erin’s genius has sparked a MOVEMENT and there is lots of opportunity and interest for expansion. She discussed how to be smart about growth and all the things that need to change in order to make room for growth – namely her own role! Like many entrepreneurs, Erin was involved in many of the operating details when BabyCakes first opened (read: frosting), however this type and level of involvement turned out to not only be unsustainable for her as a person but also for BabyCakes as a business. In order to focus on the entity, Erin had to change her role and put systems in place to make BabyCakes more autonomous. She did this successfully and thereby freed up time and energy to focus on the exciting next steps of the business. (Preview: The West Hollywood bakery is opening soon and her CookBook is due out in April and is available for pre-order on Amazon).
Model Businesses.
Erin shared with us some of the businesses that have had the biggest impact on her and how their influence has shown up in Erin’s business.
In particular she mentioned:
1. how Julia Childs validates for her the importance of originality and ingenuity. Julia Childs was always comfortable being herself, even if it was not exactly what you might expect.
2. Also Erin pointed to a restaurant, Chez Panisse, that she worked for in Berkeley, created by Alice Waters. The experience there influenced Erin’s thinking on the cultivation of work atmosphere/culture. Erin discussed how proud each employee was to work at this particular restaurant and what Alice Waters did to encourage and foster that feeling. Erin has worked hard to cultivate a similarly strong and warm culture at BabyCakes. Erin also noted that Alice Water’s personality was so infused with the brand and feeling of the restaurant that even after Alice didn’t spend as much time there, you could tell it was hers.
3. This trait, using the brand as a strong extension of self, is also what inspires Erin about Built by Wendy, Brooklyn based designer extraordinaire, who was the first external designer to collaborate with BabyCakes on their uniforms. Built by Wendy is another business that reflects many of the same qualities that we love about Erin and BabyCakes: innovation, integrity, vision, and authenticity…it should be no wonder that they are so compatible and collaborative!
Another big THANK YOU to Erin! And, all, seriously, you have got to try her goods! They are great.
posted by Adelaide
October 18, 2008
ARE WE ALL IDIOTS? MAYBE...
A couple interesting articles on the HBR Blog got me thinking this morning…
The first highlighted (still more) insightful comments by Warren Buffet on the financial crises. The second questioned the stability of the social media world in what is certainly a “down economy”.
The first article, “Wisdom of Warren Buffett: On Innovators, Imitators, and Idiots” recaps an interview given by Mr. Buffet, in which the following exchange occurred: “At one point, his interviewer asked the question that is on all our minds: "Should wise people have known better?" Of course, they should have, Buffett replied, but there's a "natural progression" to how good new ideas go wrong. He called this progression the "three Is." First come the innovators, who see opportunities that others don't. Then come the imitators, who copy what the innovators have done. And then come the idiots, whose avarice undoes the very innovations they are trying to use to get rich.”
This seems to be a reasonable statement about the financial mess the world is in. Someone creates or adapts a new product to meet a previously unmet need. Others observe the innovation jump on the bandwagon looking to produce more and more of the same. This new product gains popularity and buzz becomes the new “it” thing. All the while still more people are joining up, investing more time and resources into the new product, pushing the boundaries, and expanding the applications. It is very easy in this situation to understand how the original intention for the product may be lost and the how the product could be misused and ultimately be yielding very little value.
The second article, “Is Web 2.0 Living on Thin Air?” questions the value that social networking and social provides and if that might be sacrificed if all of us are concerned about our livelihood and bottom lines.
The author, Tom Davenport, writes: “Have you ever sat at Starbucks with your Mac laptop open, sipping your mochaccino or your chai latte, and looked around at the others just like you? Did you wonder whether our economy had grown a little overly precious? How can we really be producing value if we're all sitting around blogging and Facebook-friending each other? …Now all this fervent typing feels like we drank too much grain alcohol punch at a party last night. In the cold light of a morning-after economic crisis, one questions whether social media can really be the basis of a solid economy. Will people really have time to do all this friending if they fear for their livelihoods? Will we have time for Second Life when we have to take a second job?”
While Davenport’s focus is clearly more about the sustainability of the INDUSTRY in THIS ECONOMY…it got me thinking about how the Innovator, Imitator, and Idiot paradigm can be applied to small business owners and their use of social networking and web 2.0 tools.
Most of the social networking tools out there are smart innovations designed with a purpose in mind. They can be quite useful and interesting. For example, Facebook allows us to maintain strong(er) relationships with acquaintances that we might otherwise have lost touch with. Among other things, blogs allow for additional and affordable publishing venue and give power back to consumers in who openly and honestly express their opinions and critiques. These revolutions in technology are important and often revolutionary, impacting and influencing both social and business landscapes.
While one could easily argue that the creators of ALL these tools, and more tools, and widgets, and gadgets may clearly fall into the innovator, imitator, and idiot paradigm, I would also argue that the users do too. Specifically us, the small businesses owners. Us. Those that try to leverage 2.0 for business development and enhancement.
Given the change in the economic climate, I think it may be important to ask yourself where your usage of Web2.0 has fallen vis-a-vis Mr. Buffet’s 3 categories.
Bluntly, in terms of using social technology as a business development tool, are you an Innovator, an Imitator, or an Idiot?
Think about it…
* Were you the some of the first to use these tools to better reach new customers or maintain relationships with existing ones?
* Are the hours you spend online updating your profile and blasting your daily activities really helping your business?
* Is the time have you spent focusing on how to adapt or introduce new bells and whistles into your business worth it?
* More so than spending the same energy focusing on the overall direction or value that you provide?
* Even if you are a Facebook follower (like me) rather than a leader or initiator, have you really learned much of value while trolling the site?
* Are you using the tools that you spent time creating well? Do they serve a business purpose?
For some of you, the answers to these questions might be YES, and if so, kudos. But I imagine for many more of us, the answer is NO.
Many of us are trying to integrate these technologies into our business regardless of their use and beyond their utility. And my guess, is that is a waste of precious time, especially now.
Certainly this is not a call to throw the baby out with the bath water…I will not be dismantling our blog or our facebook group. Instead it is a call to audit your use of social media. Make sure it makes sense. Make sure it meet a business goal or a client need. Make sure you are NOT being an imitator or an idiot.
posted by Adelaide
A couple interesting articles on the HBR Blog got me thinking this morning…
The first highlighted (still more) insightful comments by Warren Buffet on the financial crises. The second questioned the stability of the social media world in what is certainly a “down economy”.
The first article, “Wisdom of Warren Buffett: On Innovators, Imitators, and Idiots” recaps an interview given by Mr. Buffet, in which the following exchange occurred: “At one point, his interviewer asked the question that is on all our minds: "Should wise people have known better?" Of course, they should have, Buffett replied, but there's a "natural progression" to how good new ideas go wrong. He called this progression the "three Is." First come the innovators, who see opportunities that others don't. Then come the imitators, who copy what the innovators have done. And then come the idiots, whose avarice undoes the very innovations they are trying to use to get rich.”
This seems to be a reasonable statement about the financial mess the world is in. Someone creates or adapts a new product to meet a previously unmet need. Others observe the innovation jump on the bandwagon looking to produce more and more of the same. This new product gains popularity and buzz becomes the new “it” thing. All the while still more people are joining up, investing more time and resources into the new product, pushing the boundaries, and expanding the applications. It is very easy in this situation to understand how the original intention for the product may be lost and the how the product could be misused and ultimately be yielding very little value.
The second article, “Is Web 2.0 Living on Thin Air?” questions the value that social networking and social provides and if that might be sacrificed if all of us are concerned about our livelihood and bottom lines.
The author, Tom Davenport, writes: “Have you ever sat at Starbucks with your Mac laptop open, sipping your mochaccino or your chai latte, and looked around at the others just like you? Did you wonder whether our economy had grown a little overly precious? How can we really be producing value if we're all sitting around blogging and Facebook-friending each other? …Now all this fervent typing feels like we drank too much grain alcohol punch at a party last night. In the cold light of a morning-after economic crisis, one questions whether social media can really be the basis of a solid economy. Will people really have time to do all this friending if they fear for their livelihoods? Will we have time for Second Life when we have to take a second job?”
While Davenport’s focus is clearly more about the sustainability of the INDUSTRY in THIS ECONOMY…it got me thinking about how the Innovator, Imitator, and Idiot paradigm can be applied to small business owners and their use of social networking and web 2.0 tools.
Most of the social networking tools out there are smart innovations designed with a purpose in mind. They can be quite useful and interesting. For example, Facebook allows us to maintain strong(er) relationships with acquaintances that we might otherwise have lost touch with. Among other things, blogs allow for additional and affordable publishing venue and give power back to consumers in who openly and honestly express their opinions and critiques. These revolutions in technology are important and often revolutionary, impacting and influencing both social and business landscapes.
While one could easily argue that the creators of ALL these tools, and more tools, and widgets, and gadgets may clearly fall into the innovator, imitator, and idiot paradigm, I would also argue that the users do too. Specifically us, the small businesses owners. Us. Those that try to leverage 2.0 for business development and enhancement.
Given the change in the economic climate, I think it may be important to ask yourself where your usage of Web2.0 has fallen vis-a-vis Mr. Buffet’s 3 categories.
Bluntly, in terms of using social technology as a business development tool, are you an Innovator, an Imitator, or an Idiot?
Think about it…
* Were you the some of the first to use these tools to better reach new customers or maintain relationships with existing ones?
* Are the hours you spend online updating your profile and blasting your daily activities really helping your business?
* Is the time have you spent focusing on how to adapt or introduce new bells and whistles into your business worth it?
* More so than spending the same energy focusing on the overall direction or value that you provide?
* Even if you are a Facebook follower (like me) rather than a leader or initiator, have you really learned much of value while trolling the site?
* Are you using the tools that you spent time creating well? Do they serve a business purpose?
For some of you, the answers to these questions might be YES, and if so, kudos. But I imagine for many more of us, the answer is NO.
Many of us are trying to integrate these technologies into our business regardless of their use and beyond their utility. And my guess, is that is a waste of precious time, especially now.
Certainly this is not a call to throw the baby out with the bath water…I will not be dismantling our blog or our facebook group. Instead it is a call to audit your use of social media. Make sure it makes sense. Make sure it meet a business goal or a client need. Make sure you are NOT being an imitator or an idiot.
posted by Adelaide
October 13, 2008
WANT TO WIN WOMEN? REPACKAGE.
Books and reports and news sources have been talking for years about the strategic value of targeting and marketing to women consumers. And businesses have listened. Many have even been created with this insight in mind (a la In Good Company Workplaces). Even more existing businesses have launched new products and services that are designed to specific appeal to women.
Interestingly, however, two perhaps unexpected and traditional businesses have recently take steps to repackage their existing services and offerings in order to heighten their stock in women's minds: Best Buy & The Wall Street Journal.
Springwise reports that Best Buy (one of the worst places on earth, I think) opened a new store in Aurora, CO, that was not only designed with women in mind but was also based on specific feedback solicited from local women consumers. Among the findings "were that female customers wanted more help seeing how products could work together and fit into their lives".
The re-design project took 9 months, and now..."Gone are the chain's typical warehouse-style blue interiors and metal shelving, replaced instead by wood paneling, carpets featuring earth tones and skylights for natural lighting." The company is hoping that the costs invested will be off-set by consumer loyalty...Let's hope so. I haven't gotten to experience the new approach, obviously, but I would be interested to see what it is like. And I would be thrilled, if this new format were to be applied to our local 23rd street store.
The Wall Street Journal has just rolled out "Journal Women", which serves as a web-gateway to consolidated relevant news articles for 'Career Women'. So far, I love it, and have temporarily made it one of my home pages...
So, in addition to the more typical, "how do you appeal to women" question, I am thinking more about the notion of repackaging your existing goods for various market segments...
How do you account for regional variations?
Different demographic groups and buyers?
It reminds me of one of my favorite Inc articles from several years ago...Life Lessons about the company Life Is Good and its approach to franchising. The Life Is Good founders allow franchisers much more autonomy than is typically given so that they can specifically customize their store for various audiences and regions.
All food for thought...
posted by Adelaide
Books and reports and news sources have been talking for years about the strategic value of targeting and marketing to women consumers. And businesses have listened. Many have even been created with this insight in mind (a la In Good Company Workplaces). Even more existing businesses have launched new products and services that are designed to specific appeal to women.
Interestingly, however, two perhaps unexpected and traditional businesses have recently take steps to repackage their existing services and offerings in order to heighten their stock in women's minds: Best Buy & The Wall Street Journal.
Springwise reports that Best Buy (one of the worst places on earth, I think) opened a new store in Aurora, CO, that was not only designed with women in mind but was also based on specific feedback solicited from local women consumers. Among the findings "were that female customers wanted more help seeing how products could work together and fit into their lives".
The re-design project took 9 months, and now..."Gone are the chain's typical warehouse-style blue interiors and metal shelving, replaced instead by wood paneling, carpets featuring earth tones and skylights for natural lighting." The company is hoping that the costs invested will be off-set by consumer loyalty...Let's hope so. I haven't gotten to experience the new approach, obviously, but I would be interested to see what it is like. And I would be thrilled, if this new format were to be applied to our local 23rd street store.
The Wall Street Journal has just rolled out "Journal Women", which serves as a web-gateway to consolidated relevant news articles for 'Career Women'. So far, I love it, and have temporarily made it one of my home pages...
So, in addition to the more typical, "how do you appeal to women" question, I am thinking more about the notion of repackaging your existing goods for various market segments...
How do you account for regional variations?
Different demographic groups and buyers?
It reminds me of one of my favorite Inc articles from several years ago...Life Lessons about the company Life Is Good and its approach to franchising. The Life Is Good founders allow franchisers much more autonomy than is typically given so that they can specifically customize their store for various audiences and regions.
All food for thought...
posted by Adelaide
Subscribe to:
Posts (Atom)
Posts
