Think Micro... [and avoid the Macro paralysis]

Everyone in attendance at last weeks' "Developing Enterprises" event in Galway will agree that we should ditch our macro obsession and instead focus our energy on the micro domain.

What am I talking about? Put simply; the core message of the entire panel on the night - in essence, let's focus on and accentuate the possibilities of our start-ups, small and developing businesses, unemployed professionals and budding entrepreneurs. Why? Because it is these people who will help to get Ireland back on-track.

An evening which featured a diverse range of speakers [check out the Developing Enterprises website for full listing], including the projects' founder, Caroline McDonagh of WIN [West of Ireland Networking], Breda Fox, CEO of Galway County and City Enterprise Board, and keynote speaker, entrepreneur, Sean Gallagher, resounded the same theme - think big, start small.

Our 'current economic climate' has had a paralytic effect on many of us. Not least those who've faced huge personal challenges through unemployment, salary reduction or some of the other resultant recessionary impacts. The options may not appear hugely inspiring at first, however, with the right mindset and support, it is possible to overcome and grow.

A key point apparent on the evening was the importance of obtaining support through networking and other support organisations. Having established WIN as a resource for individuals seeking support in their new [or yet to be formed] career-paths, Caroline MacDonagh spoke of the necessity for support, collaboration and confidence-building; a point echoed by Breda Fox of Galway County and City Enterprise Board. Breda described the various supports offered by the organisation, as well as highlighting her own commitment to ensuring entrepreneurs were able to harness these mechanisms to grow and develop their businesses.

Commenting on the key challenges for small business owners, Training and Development specialist, Gert O'Rourke, reiterated the importance of supports for SMEs, citing the high percentage of failures proportionate to unsupported businesses.

As keynote speaker, Sean Gallagher provided a reinforcing summation... I have to admit my pen could hardly keep up with his enthusiasm! For me, and I'm guessing many others, the most salient points related to the need for directing our energy towards the micro and away from the constant stream of macro [what can we do to change what's already happened? it's time to refocus], making problem-solving a habit, and keeping mindset in check [self-confidence, self-awareness and self-determination].

Having provided the audience with a huge portion of the yes-we-can variety of thinking, Sean remarked on the immense value of the event, and how this type of activity would help to rebuild and drive the country forward... and do you know what? I'm pretty sure everyone agreed.

Getting a Green Light... the Safe Cross Code for Enterprise Applications

Applying for funding or mentoring support is often thought to require some kind of secret language or password. In fact it’s more like knowing the right ingredients to a good recipe – using guess-work doesn’t often work out and can produce the wrong result!

Dealing with small businesses in my region, I’ve come across many disenchanted individuals who’ve slaved over their application [or not, as the case may be!], only to be turned down. For the poor souls who’ve pored over their plans and forms, it’s particularly disappointing, and quite often it can be the simplest thing which caused the rejection.

From my own standpoint, and having noted the various elements which can cause an application to be rejected, I have come up with a few tips [not exhaustive – comments welcome!]:

1. Be Organised

Don’t think ‘I’ll do that next week’ – give yourself time to prepare and fully examine every aspect of the information you’re required to submit. Read through application detail a few times to familiarise yourself with it and ensure understanding – you would be surprised by how many mistakes are made as a result of not reading an item correctly.

2. Stay Focused & Provide Clarity

Make sure you don’t go off the point; being passionate about what you’re doing can sometimes derail the train in terms of sticking to what’s being asked of you. Be mindful!

3. Provide Detail

Where detailed projections, forecasts, exit plans or other materials are required – ensure you provide them. Don’t consider they are not necessary.

4. The ‘Four-Eyes’ Approach

It is well worth asking for a second pair of eyes [not literally, obviously] – an experienced colleague or friend preferably – most importantly, someone who will, objectively provide you with feedback on your application. Also, care of Eoin Kierse [http://www.smallbusinesscan.com/community/1295-eoin-kierse/profile.html], when you finish the application, read it over again.

5. Check and Check Again

Don’t assume that because you haven’t been asked for something, it’s not required – ensure you have a checklist of items / documents required for submission with the application. Many rejected applications are down to just one document or form not being completed.

6. Don’t Be Afraid To Ask

If in doubt, don’t wait to find out... ASK if you’re not sure.

What the fudge is a Value Proposition?!

A look of puzzlement often appears on a clients' face when these two words are first mentioned, however I must confess it engendered the same reaction in me when I encountered the [dun dun dunnnn] "Value Proposition" first.

Shall I make it simple for you? Yes? OK then.

1. What is it? Put simply - it's a statement of what value your product or service will offer for the consumer [be they a business or an individual - they are consuming what you're offering];
2. Why do I need to know anything about it? Because it will ensure you can communicate clearly to the consumer why they should choose your product or service - what the tangible deliverables are;
3. Where does it fit in the business? Normally a key feature of business and marketing strategy, your Value Proposition synchronises with your business model, objectives and values... it needs to be clear and concise.

On top of these three pointers, your Value Proposition can set you apart from competition, keep your business goals in check, and ensure you deliver!

Still not sure? Why not do some homework on the big brands - what's their Value Proposition? How does it interact with their brand and business model?

Whether you think you can or think you can't...

[Copyrighted image - care of mrduez.com]

Do you agree? I suspect there are a few of you shaking your heads [and not in an affirmative manner].

In any case, the whole issue of mindset in business, and its powerful impact on success continues to fascinate me. Undoubtedly, our outlook is integral in the way we handle everything in life, good and bad. In fact, our perception of the things life throws at us is just as important - as in, is it really bad or just not the outcome we'd hoped for?

Having started up, like so many, in the big-dipper fun-park of the recession, I have rode the roller-coaster of constant, [seemingly] never-ending, negativity... the type of 'we're all doomed, basically' commentary that oozes from what feels like, everywhere, betimes.

My bid to limit over-saturation included a self-imposed ban on too much media. Despite a huge interest in current affairs, I've limited myself to only one dose of current-affair-programming per week [from a more frequent three - four, plus a few news bulletins per day]. This came by recommendation from a colleague in the same line of work who reckoned she would 'give up completely' if she didn't reduce her intake.

However, my efforts to fortify myself with plenty of positivity have been thwarted on a few occasions [unfortunately human beings don't come with a remote control and associated mute button] - therefore I would remind all of you that the negative control mechanism actually comes from within. What does that mean for you? Well, essentially, only you decide whether all the worlds' woes are going to control how you deal with your life. Obviously, I am not advocating that one tunes everything out and becomes hermit-like, but you can be aware and interested without feeling despair.

Is it practicable to summon all your mental stamina to ward off incoming gloom?

Absolutely. It takes practice, but it can be done. Having had the pleasure of meeting and hearing from her twice in the past few months, Mary Davis [Managing Director, Special Olympics Europe & Eurasia] has spoken of working and managing in a way which is cohesive and productive for you - and not allowing external forces to dictate. To me, this sounds like having a strong internal locus of control [I had to mine my university memory which is a tad dusty, for that!]. As someone who has certainly had to overcome many challenges during the course of her career, I think Mary knows what she's talking about...

I do believe that you never know what's around the corner... which doesn't mean that you deal with it by panicking or giving up on what you're doing. Just this week, I tuned in to hear Padraig O'Ceidigh discussing, amongst other things, his recent experiences in business. It was hugely heartening, to say the least, to hear how Aer Arann's Executive Chairman dealt with the company's testing times [which, thankfully, came to an end following its exit from examinership in November last year] and, as I tweeted at the time, his general sense of positivity and hopefulness should be bottled and prescribed to the nation.

In essence, readers, it's within your own control to decide how you manage the times we're in... you can tune it out [but some will remind you]; its impact on you depends on how you react and pro-act. Make an internal locus of control your priority and manage the negativity - remember, as Henry Ford said, "Whether you think you can or think you can't, you're right".

In Small Business – Together IS Better

Connaught-based Busy Lizzie and Irish Business Intelligence Small Business Consultants discuss their working ‘synergy’...

While the new government receives their first baptism of fire, small businesses continue to innovate and examine new ways of developing their service offering. The latest example of this comes in the form of a large dollop of creative thinking from Galway-based Tara Dalrymple of Busy Lizzie, who spotted an opportunity to build her business’s audience through a mutually-beneficial working synergy with another West-of-Ireland colleague, Irish Business Intelligence.

’Olwen and I share a very similar view on business, working with clients and the right way to do things. From on-going communications it was clear that our two businesses dovetailed nicely. Very quickly we decided a collaborative relationship was not only a way to really help our clients grow, but also a great way to grow each other’s client base’ Tara adds.

Both businesses offer solutions and support for business-people and entrepreneurs of all walks, by simplifying, advising and expediting their personal and business lives: Olwen Dawe of Irish Business Intelligence ‘when Tara and I spoke about the idea initially, there was an instant fit. I offer support and advice by coaching start-ups, small and developing businesses on how to best get their product or service to market – helping them to overcome personal an

d business obstacles along the way. Busy Lizzie’s back office outsourcing portfolio is extensive – from call-answering, concierge, e-marketing and social media to personal and social services’

Both Tara and Olwen are members of Network Ireland [Galway and Mayo branches respectively], and are award-winning businesswomen. Both have solid corporate backgrounds in operations, HR, IT, banking, retail, PR and marketing, giving these two ladies years of ‘big’ business know-how, they really do know their stuff.

According to both Tara and Olwen, it’s a case of “paying it forward”; by supporting others, you can help yourself ‘I think businesspeople have had their fill of the constant stream of negativity – it’s time to look at the opportunities we can create for ourselves and one another by working together’ Olwen comments

‘Our packages are built with SMEs in mind, they cover off all bases a start-up or growing SME Company requires, and when they grow we have other packages to take them onto the growth stage. Between us, we will are able to take someone from zero to hero. For example, we are offering basic or ‘entry-level’ services from as little as €400 – this type of package would include a development report from IBI, covering a broad-spectrum of marketing and development objectives for SMEs, and a social media starter package, ‘bronze’ e-newsletter or call-answering / virtual secretary services. ‘ says Tara ‘In addition to this, we’re able to provide more hands-on packages for developing business which would include a selection of our back-office services as well as Olwen’s onsite consulting or monthly coaching option – we do a ‘pick-and-mix’ which offers best value-for-money.’

Outsourcing is utilised more and more as companies limber up and examine routes to become leaner and meaner, while consultants really have to show their worth and deliver tangible results, ‘Unfortunately there were a lot of “consultants” around during the boom – sadly, many of them didn’t really do what they ”said on the tin” resulting in a wide sense, among business-owners, that most consultants are just “hacks” who don’t actually deliver anything’ claims Dawe, ‘I am a business-person, and I deliver results, based on clear, concise objectives agreed with my client – no ambiguity! Partnered with the wide-variety of services Tara offers to support businesses – we can revolutionise the way you do business.’

The Female Entrepreneurship Question

Post-centenary celebrations of ‘International Women’s Day - small business owner and female-entrepreneurship writer, Olwen Dawe, wonders whether her colleagues’ experiences have changed? And what, if any, supports they feel are available to them.

It took me a while to realise I wanted to run my own business. In fact if I hadn’t finally been ousted from the world of employment as a result of my employers’ recessionary woes, I probably wouldn’t have taken the leap for quite some time yet. I’d always held massive regard [and indeed, still do] for friends and colleagues who showed the steely determination and pure confidence it took to start up in business on their own. The mere thought of it absolutely terrified me. Even after years of frustration and often, boredom, in the jobs I worked at, I remained where I was, paralysed by the fear of failure... or more importantly, the lack of a monthly pay-packet, and in essence, losing the sheer regularity of the employed life.

As the daughter of a most-entrepreneurial mother, the subject of women in business and entrepreneurship has always been close to my heart. Since joining the ranks of the self-employed, I find myself questioning the ‘glass ceiling’ more and more – not necessarily disagreeing with its existence entirely, but simply wondering if, betimes, we use it as a smokescreen for our own attitudinal or behavioural nuances?

At the Network Ireland International Women’s Day event on Friday 4^th of March, Special Olympics M.D. [Europe and Eurasia], Mary Davis, referred to an Irish Times piece published that day, quoting some alarming statistics from Accenture survey ‘Reinventing Opportunity: Looking through a new Lens’. The survey hints, broadly, at a reticence amongst females to ask for promotion [despite a higher success rate, versus the opposite sex when they do] or seek pay increases – which in turn, points to dissatisfaction at work [due to lack of advancement].

Do we stymie our progress by virtue of our own foibles? It seems like we might ... afraid to ask for the advancement available to us... and at times imagining obstacles that may [but probably aren’t] in our way? Another International Women’s Day speaker [this time in Mayo] Susan Hayes, the Positive Economist, highlighted the many successful Irish and International businesswomen, of all walks, during her presentation – did they stand back and see what would come their way? Unlikely.

To satisfy my own curiosity, I collated a survey on the subject of ‘The Experience of Female Entrepreneurship’ in order to gauge the attitudinal temperature amongst the country’s female entrepreneurs. The profile of the women surveyed showed a professionally experienced group - 55% with over 10 years’ experience prior to starting up. 47% stated that they had ‘always wanted to’ work for themselves, 41% cited ‘point-in-time’ [e.g. another factor assisted in the decision], while 29% claimed the recession as their motivation. When asked their impression of the supports available through State bodies, respondents were somewhat polarised in their estimation: 44% citing inaccessible / irrelevant, 28% as helpful, 33% supportive and 28% useful. Comments also pointed to specific experiences being quite varied “unhelpful, condescending and arrogant... support structures and follow-up are not there... unsuccessful”. The supports requested by the group were: funding 87%, coaching/mentoring 67%, workshops 40% and training 33%.

Given the prevalence of ‘online’ in business marketing, it seems that female entrepreneurs are finding it hugely important in driving their business – with 81% stating that networking online/social media/ forums helped drive their business forward, followed by networking events / organisations 50%, private training 19%, and state funding just 6%. Interestingly, neither state training nor bank funding were credited with providing support to these businesswomen.

So, you may ask, what can we glean from this information? As a female entrepreneur, I am most proud to note the resourcefulness and tenacity of my colleagues, however in light of the constant commentary recently pertaining to the importance of small business [and, indeed, the female entrepreneur’s contribution to it], it is a concern that funding, support and accessibility remain an issue. Undoubtedly, the new government must work to ensure a clear, structured strategy for small business development is put in place to rectify this. As a realist, I know that this is not an overnight possibility – but at the very least, it should be feasible to research and respond accordingly, as opposed to offering short-termistic bandage-style solutions.

Putting on my employee hat again, with a sense of hindsight, I think I would have fallen into the statistics quoted in ‘Reinventing Opportunity: Looking through a new Lens’. Why? Perhaps self-belief or confidence? Or lack thereof. One thing’s for sure, based on the Grant Thornton’s research this week, a focus needs to be directed on women in employment generally – given that the global proportion of women in senior management has shown no growth – instead reverting to 2004 levels.

I find myself mulling over a quote by Moira Forbes “If you rewind a year, two years, pick a number in the past decade, doesn’t it feel like we’ve already had the very same conversations, quoting the very same bleak statistics, sharing the very same frustrations?". Yes, Moira, it does... now it’s time to take action to change it.

Hi!

Hello all!

Following my recent quietude from blogging [well, this blog] I thought I'd better check in to say hello :)

What follows are two recent press pieces which may interest you - I'm planning another ramble soon... oh, and if any of you are Sligo-bound after Easter, pop in and say hello!

Best for now,

Olwen