What Strategy Means to the #SMECommunity

Image Link : idealway.tumblr.com

A few weeks ago, I asked the SME Community, through Twitter and LinkedIn, what they felt 'Strategy' meant to them.  The reality, as I understand it, is that strategy, like synergy and collaboration [and many other buzz words] has become something of a 'non-entity'.  It has developed an unfortunate role as a word bandied about at meetings and conferences, with very little actual meaning or outcomes attributed to it. 

The responses I received were interesting, though not entirely surprising.  For many SMEs, strategy connotes corporate lingo or jargonistic terminology which has no real basis or factual application for their business.  Others see it as a route-map or execution plan underpinned by a business plan; some think 'I don't have time for strategy - I'm busy surviving'.

Whatever your position, don't be fooled - strategy is essential.  It offers you with clarity, precision, timing and resources / capacity to deliver your business's vision and plan.  It's somewhat military in its essence [hence the abundance of Sun Tzu quotes in most strategy-related articles!] - in that it defines the how and who of actualising or delivering a business vision.  It's clear, succinct and above all, focused.

The reality of being a micro or SME? We're all different.  Our visions, financial and human resources are all, also different.  The other reality? This doesn't mean you 'opt out' of strategic planning.  The key to strategy is in the understanding of your relationship to strategy: it applies to you, whether your business is just you or others are involved.  The other reality? Your strategy may change but your vision should stay as concrete as possible.  Resources, timing and regular measurement should also be to the fore of your strategy.

Still not sure? Have a read of this... and remember, as Sun Tzu said "Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat."

The Cheese Mall: The Perfect Hors D'oeuvre to Starting Up

‘Starting up is hard to do’ is how the song should have gone – as indeed, getting started in business can be very testing.  However, help is at hand for those of you considering, or commencing the start-up phase.  

As an SME and enterprise development consultant, I am well-acquainted with the trials and tribulations of enterprise start-up and development.  The individual barriers people encounter when it comes to getting a handle on their offering, the research and planning involved and their own fears about the perceived reality of business.  

“The Cheese Mall” is a perfect antidote to allay all these worries and provides a practical, no-nonsense approach to getting going.  Don’t be fooled by the fun, charming title and its two characters though – this book means business when it comes to the reality of the work involved and how, at times, it can be a little scary for those involved.

Matthew and Millie, our two entrepreneurs, have braved the recession and redundancy [like so many], and in so-doing, identified a perceived niche in the market... all they have to do now is test its potential and commercialise it.  Oh, and get the all-important business plan compiled for Mr. Grudge at the Mouse People’s Bank.  

I can hear the cogs in some readers’ brains turning – considering this to be ‘something I don’t need to read’ – sorry, folks, you do.  While “The Cheese Mall” provides an endearing backdrop and two wise mice to narrate the story – it also provides a step-by-step of starting up in a clear, concise manner.  Matthew and Millie act as two entrepreneurs who the author, Bernie Tracey and I, would regularly see for advice.  Frequently these candidates are overwhelmed by the task involved, unsure of where to go next and most worryingly, likely to give up on an idea before they even find out whether it’s viable.

“The Cheese Mall” is a must-read for would-be entrepreneurs or those currently running micro and SMEs; as while a step-by-step features for all those considering a new market offering, there is also some serious reality-checking for business-owners on what they’re doing or not doing as the case may be.

Rural Enterprise: Limbering Up in the Wake of the Tiger

Image: Blog. Eogn.Com

This topic has arisen on several occasions recently in conversation with colleagues around the country.  When I talk about rural enterprise, in terms of the SME and start-up businesses I support, and the rural enterprise development agencies I work with - there is often either a] a nod of feigned-appreciation or b]a quizzical expression, intimating total lack of comprehension.

On the odd occasion [c] a convivial conversation takes place, extolling the virtues of enterprise development projects, and how they can make a difference.  However, that doesn't happen all that much.

Rural enterprise is different.  Why? Well, for many reasons, not least because it is an area which has been hugely impacted by the recession, though this is not always mentioned in dispatches.

Over the last year, I have spent quite a bit of time on the road, travelling from county to county and taking in the devastation the 'Tiger' has left in its wake.  Not so much Tiger's roar, as Tiger's detritus.  It has struck me, immensely, that villages have been left bereft, barren as a result of the recession - small towns that once bustled with markets, local shops and pubs now find themselves boarded-up and grey.  It's a hugely depressing vista.

One such example is in a town I drove through on the way home from a meeting.  Realising I needed to pull in and turn around to get on the right road, I drove into what I thought was a functioning hotel's drive-way, only to be presented with overgrown weeds and the view of a plush foyer adorned with brand-new furniture, but shut-tight.  It was a truly shattering sight.

Clearly, in challenges, we find opportunity.  There are realities to the times we live in and there are, very definitely, economic and social issues which will take time to ameliorate.  However, it is fair to say that some green shoots are determinedly making their way to the surface and hopefully, showing others what can be done in more arduous times.

So, why is rural enterprise different, and what can be done to encourage those aforementioned green shoots?

Rural enterprise is not the same as urban business development.  For one, there are other considerations immediately on start-up that businesses commencing in urban centres don't have to even think about! Infrastructure, actual access to support organisations and technology [e.g. remoteness] and the sense that self-employment is really a feasible option.  Obviously there are more common issues too, such as access to finance and scope of market.

Those being the challenges, what can people like me, and the organisations I work with do to harness, support and develop rural enterprise potential? As the much-overused phase of Einstein's goes: "the definition of insanity is doing the same thing again and again, and expecting different results".  Where rural enterprise is concerned, the same view should apply.  Prescriptive doesn't work, insightful does.

Based on my experience, and insights garnered from colleagues [not least, those involved in the 'Rural Alliances' INTERREG project], some key focuses and actions targeted as central to the development of rural enterprise are:

• Demystifying the challenges at start-up: a less-prescriptive approach to enterprise start-up;
• Fresh-thinking & innovation in rural communities: development of fresh attitudes to employment, including agri-diversification and social enterprise;
• Enterprise growth is not confined to rural hubs or towns: visibility of enterprise supports in rural areas, not just towns and hubs;
• Building networks and developing linkage: creation of appropriate networks and clusters to support resourcefulness, sustainable employment and community alliances;
• Encouragement of export potential: highlighting the potential of export for rural micro-enterprises and SMEs.

Obviously these steps won't work overnight but they will, with the right strategy and focus, facilitate new thinking and opportunities for people, and as such, begin the work of rebuilding from green shoots.

Gender Quotas and Binders Full of Women... the Perception Issue

Photo: International Business Times

So I reckoned that this title would generate quite a few titters of amusement, not least of all because ones' intention is not so diametrically opposed to the other as it might seem!

Over the last few years, I've been engaged in projects which - in one way or another - were focused on supporting, harnessing and developing female entrepreneurship.  Some have been voluntary; others have been in the course of my work with clients; the principal rationale which united them all? An attempt to make a difference.

Returning to my somewhat comedic blog-title, I'm consciously aware of the various bids of late by Governments at home and abroad, as well as those in the social entrepreneurship 'space' to do their bit [and it should be noted that many are making serious headway] to enhance the visibility of politics, decision-making and entrepreneurship as real career options for women.

The reality, however, is that perception is still an issue.  I don't say this as a throwaway comment, but one which I encounter every day, in conversation with colleagues I respect and admire, as well as those who I may have battled in the past.

What do I mean? Perception, as is often said, is reality.  In this instance,  perception of female-centric platforms and programmes can be held as: "YET another measure - more of the same" or "more boring on about gender equality again".  Talking to Focus SME's Kehlan Kirwan last Saturday morning for the Small Business Show, I mentioned a regular perception I come across - that female-focused programmes are often perceived as 'sexist' .  I might add, that this perception is coming from those who should know better, some are [shock-horror] women and others are entrepreneurs.

Are you not getting it folks? If we don't support the non-engaged, they never will engage? For entrepreneurship alone, women are still behind, with less than 50% of start-ups in 2010 being female-led and only 15-18% of leadership positions in entrepreneurship being held by women [Enterprise Europe Network - 2010]

The fact is, the change is still a-coming, and it's taking longer than we thought.  Last year, I wrote a short, sharp post inspired by Moira Forbes, and her view that there was a sense of "Groundhog Day" about the gender issue.  To be honest, as I sit here, 21 months later, I'm feeling a sense of déjà-vu myself.  

The other perception issue lies with our 'end users' - women who are still afraid to put their heads above the parapet for fear of many things, not least of all, not being taken seriously.  

To speak from my own experience, I certainly had many moments of absolute fear - not least of all, those moments when I realised I was doing battle on a playing field where I was about twenty years younger and a different gender to my colleagues.  Still, one must carry on regardless, even when one is absolutely terrified.  

What made me different? What gave me the steel in my spine at times when I could have bent-double? A network; role models; and most of all, an unerring need to continue on, fueled by support and belief.  

So, in sum - for those of us seeking to entice, support and develop the potential of women in politics, enterprise, decision-making or other walks - we need to remember the tenets borne-out by the European Commission [Enterprise Europe Network] in recent years:

• Visibility of role models;

• Access to tailored training and mentoring;

• Networks focused on mutual support.

.. and finally, when we've achieved that, a little cultural, attitudinal change wouldn't go amiss.  But that's a whole other story [blog post].

My Start Up Story

Photo: Michael McLaughlin Studios

I think I probably always knew I’d work for myself – but wasn’t entirely sure when it would actually happen.  Like many others struggling to make a decisive choice at university time, I had vacillated between journalism, commerce, arts, law, HRM and PR.  A little career schizophrenia seemed to be problem.  

Having lolled away many summers post-exams, the year of my Leaving Certificate proved to be a defining moment for me, as I discovered something I was passionate about.  Encouraged by my parents [for that, read – ordered] to get a summer job, as opposed to spending countless hours ogling MTV,  I ended up working in a young Telecoms company, and quickly working my way up the line.  Needless to say, my decision to defer university wasn’t received with great delight, but when I did actually choose to return, I felt I’d made the right decision.  

The experience of being at the central point of an SME’s growth defined my career for me.  I loved how dynamic the experience was, how many different ‘hats’ we all wore and how strategic decision-making could really shape the business’s trajectory.  I was also hugely focused on the role of individual capability in driving business forward and the necessity for unity in every aspect of how the organisation operated.  

With my people-focus, I left the SME world and headed for roles with large MNCs before deciding that HRM wasn’t for me.  I returned to small business, and added to my project management and communications repertoire, before finally taking the plunge into self-employment, just over two years ago.

When I set up Irish Business Intelligence, my chief aim was to support small business to communicate more effectively, to achieve more in their business through clearer strategy and to ensure that they were doing business better than their competitors.  It was hard to label what I actually meant, what was my value proposition? I’d worked in HRM, CRM, Marketing, Operations across retail, finance, telecoms, professional services and manufacturing... how did that add value? Put simply, I wanted to help SMEs do business better... to harness entrepreneurial capability.

Nowadays, support for small business and SMEs is more critical than ever before.  We all regularly hear of the important role SMEs will play in redeveloping the Irish economy, and this is an honest sentiment.  However, the critical issues are centred on a more cultural shift towards seeing entrepreneurship as a career choice, and one which can be fulfilling when you know how and can develop your own potential with the right supports.  

Starting up.. the good, the arrogant and the terrified

Photo - C/O Professional Job Prep

Not exactly the good, the bad and the ugly...but starting up isn't quite as easy to categorise.

Having worked with start-ups of all varieties, shapes and forms - there are recurrent themes which surface time after time.  Though some issues tend to be more apparent in the female entrepreneur [more of which appearing in another post], I can loosely categorise most start-ups as good, arrogant or terrified.

The good [we'll start with the nice ones first] are typically positive, focused and diligent folk.  They remain clear-headed about their future and current priorities, unflinching in their commitment to quality and driven to achieve.  They take advice and are open to suggestion.  Failure isn't in their lexicon, and challenges are simply opportunities disguised.  Learning is central to their existence.

The arrogant typically slouch in their seat and gaze out the window during presentations... they snub suggestions because they possess all the world's infinite knowledge.  The thing is, they're not even sure why they're here, because, after all - they KNOW it all! Unfortunately for these guys - they often don't... but won't admit this, and sometimes never do, until it's too late.

Finally - we meet the terrified - for them, this whole experience is just too much.  Every day is a toil and every iota of work along the way is an ordeal.  Start-ups can commence 'life' at this point and move on to good - but it takes time, nourishment and support to get them there.  If there is no movement, however, they may perish on the shelf of paralysis, forever wondering why they bothered even trying in the first place.

If you're a start-up, or if you're thinking about starting up, get a grip on where you sit in the above attitudinal barometer.  Being frightened is understandable, starting up is a scary place to be, betimes - but the best medicine for fear in business is action.  Arrogance, however, leads to a sticky end if it's not remedied, so if you think you might be a bit lofty, do something about it.  Climb down from the height of the know-all, you won't regret it.

Business Productivity: The Importance Of Playing To Your Strengths

From: TweakYourBiz

It’s a statement we hear throughout our lives.  As school-leavers, when it comes to making those all-important decisions about our career and later, our business productivity - those around us are often heard recommending ”playing to your strengths”.

Simply a Proverb?

I have to admit using [and abusing] this exact statement over the years – advocating it to many – and not always sticking to it myself.  However, like many such proverbs, there is a clear undercurrent of truth to it, and a message we should all take on board.

Your Business Productivity

# 1. Find a Job You Love

Sticking with the subject of proverbs, I always remember my first Management Theory lecture, when my lecturer opened with the following teaser: “find a job you love, and you’ll never work a day in your life… the challenge is finding that job”.

Most of us who follow that challenge into self-employment have actually fulfilled the task… however, that doesn’t completely eradicate irritations or frustrations [aka, not always 'strengths'].

The key is in recognising that this is the case, and not dwelling on it.

For every hour you spend undertaking an element of your workload that bores, frustrates or exhausts you, you deny yourself the time to spend on things you relish.  The irony being, the things you relish and enjoy often generate positive outcomes for your business.

# 2. Be careful  around Energy – v – Exhaustion

We can all relate to that task we abhor: the monthly accounts report, the marketing budget, those pesky forms… they drain us of energy, focus and motivation, and worse still, leave us feeling negative towards our business.

Not a good ‘place’ to be when you’re working on growth plans, exploring new services or products, or preparing for a special client presentation.

What can you do? Well, it’s not quite as simple as waving a magic wand, sadly, but you can manage more cleverly…

# 3. And Manage the Negative Tasks

Well, of course, in an ideal world, we’d all be able to outsource or delegate them away… so if you can, then… DO!

For those of us with limited resources, a better way of managing the *yuck* tasks, is to break them down into smaller chunks, minimising the impact the job has on your general motivation [and head-space!].

Another good idea is to actively reinforce the success you feel when the job is done [giving yourself a pat on the back].  This tends to help in attacking similar work on a regular basis.

Depending on the person, allocating a specific period of time to manage the piece of work also pays dividends [an end is in sight!].

The Proof is in the Pudding

Yes, yet another proverb.  Undoubtedly, spending more time on the things we enjoy, our strengths – propagates more energy, creativity and enthusiasm in all of us.  Defining ourselves by the things we dislike or are not strengths of ours, is detrimental to the way we communicate, interact and sell our businesses.

Considering the things you enjoy and contribute to positively - do you spend much or little time on them?

Ultimately, when we consider the times we excel in business – it’s easy to understand why.  There’s harmony, ease and alacrity in our actions; things just seem to ‘work’ and adversity feels minimal.  It’s called playing to your strengths.

Being realistic, of course, there are times when we have to do the *yuck* stuff, however – we can minimise and manage its impact on our business productivity – and ultimately ensure that we’re playing to our strengths as much and often as possible.  Make sure you do, and the proof will be in the pudding.

This post was inspired by Mike Gaffney of LEAP Consultants.