What does marketing really mean?

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"The aim of marketing is to make selling superfluous. The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself." 
Peter Drucker

Poor old marketing.  It gets a very hard time of it... from being the cannon-fodder of big companies' budget cuts to general "what do they do?" quips (You're not sales, so what value do you really add?).

When I worked in MNC "land", I felt for my colleague marketing peeps, as no more than those of us in other support functions... we felt the wrath of internal politics.

In the SME ecosystem, marketing has a very serious role.  "It's the stuff you do to convince people to buy your stuff" was one quote I included in a post from the way-back machine [circa 2010].  I think this quote encapsulates part of marketing's role... but not its entirety.  Marketing occupies a key role between the inner core of business strategy and the outside world, the business's "public", the people who buy your 'stuff'.  It's tactical, focused and utterly strategic.  From the brand you develop, to the website you launch, to your value proposition.

Key next steps for SMEs... Starting at the very basics... what's your message? Is it clear and focused, does it resonate with NOSE?

More? Check this out.

Number-crunching...

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A fact of start-up, in my humble opinion? Nobody really likes the number-crunching.  Why? Well, unless you've enjoyed the mathematics end-of-things up until that point - financial projections, cash-flow and sales forecasts probably ain't your thing.

For the non-numbers fans, one reality you do need to become accustomed to is that the maths are necessary.  Cash-flow and good finances are the life-blood of any business and without them, your business can [and most likely will] come to a grinding halt.  Be not afraid: there are kind, helpful, and generally very accessible financial folk available via many of the enterprise agencies who will demystify, clarify and explain those scary aforementioned financial instruments.  Don't hide away from the number-crunching - get to it!

"Women's Economic Engagement & the Europe 2020 Agenda" - A Reflection

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Women's Economic Engagement and the Europe 2020 Agenda.  A statement of intent?

As discussed many times on this blog over the past few years - the 'old chestnut'  or 'groundhog day' sentiment -  surrounding re-balancing the gender  issue continues to rumble on.  In light of this fact, I was delighted to have the opportunity to attend a conference which appeared to set out a real statement of intent insofar as addressing the importance of balance and instating equality in the economic context.

I wasn't disappointed.  Though there may have been a little repetition in the content of various speakers' presentations - by and large - the detail offered a pan-European view on the challenges, opportunities and key policy levers available to governments in supporting, enhancing and developing women's economic engagement.

The Core Issues | Women's Economic Independence

Unsurprisingly - the core issues remain the same.  Women are more educated than their male counterparts ["we employ least those we educate most" Minister Kathleen Lynch].  Women do not enjoy equal pay, with a 17% total gender pay gap in existence across Europe.  Women often suffer negative career impacts as a result of parenthood.  Only 30% of start-ups are female and over 1/3 of employed women work part-time, a choice which in the main, is to facilitate family-centric responsibilities.  Based on the most recent available detail [ from the EEN] only 15-18% of established entrepreneurs in Ireland are women.

As I said, not entirely surprising news.  However, when painted in the stark light of this series of presentations - it certainly highlighted the need for real tangible action.

The Potential Answers | A Way Forward

Whilst challenges are clear, many speakers over the course of the conference pointed to the need for real solutions that can be applied through policy levers and supports.  A new, more modern approach to childcare supports [potentially modeled on Nordic and Icelandic provisions], and the reduction of fiscal disincentives were hailed as key factors in supporting women's economic engagement.

So, what does this all translate into - in real terms? Undoubtedly, balance is required - and, as Avivah Wittenberg-Cox stated "we need to re-brand this story"... I couldn't agree more.  It's about time we changed the name of this debate, and examined it in the context of what it really is - an issue for society not just women.  As hot a topic the gender quota issue is - there are genuine merits in policy levers - and though some may not agree with the notion of direct intervention, it is fair to say that oftentimes it is the only way of effecting real change.  In the context of the broader economic engagement of women, across Europe - can we learn more about what's not working? 

One thing which clearly isn't working is the non-conducive work environment; across private and public sectors, politics and entrepreneurship.  If so many feel their chances of retaining prospects after parenthood, developing their career or at least, being paid the same as their male comparator, are at best, limited - then, what's to attract broader engagement?

The Realities | What's Next?

I'm only too aware that there are the A-students in private sector companies, putting their policies where the 'mouth' is, so-to-speak... [Vodafone, P&G, Sodexho all represented at the conference].  However, cultivating more awareness - again, societally - is paramount to meaningful change.  With the European Commission target set at 75% female labour market participation by 2020, policy-makers and government agencies had better get their 'thinking caps' on - and fast.  As mentioned by Dr. Daniela Bankier of the European Commission's DG Justice - if meaningful change doesn't happen, this target will not be met.  As it stands, we're not on target.  To quote the aforementioned speaker "equality between men and women is a fundamental right and an economic neccessity".  This comment was roundly resonated by Mikael Gustafsson, MEP when he commented that "no society can afford to waste half its talent".

The optimist in me hopes that - yes, the 75% target can be achieved.  Meaningfully. The reality? I'm not so sure.  There are real, embedded, cultural challenges that Ireland has yet to overcome - in our attitudes, viewpoints and beliefs.  While some negative stances may be worn away over time, there are many rekindled through new generations saddled with inherited, jaundiced outlooks.  These are challenges shared by our European colleagues, undoubtedly.

So what can we do? For those of us with representative or supportive roles - it's key to reach out to those who need our help.  More importantly, we can take action and make change happen... not least of all, by activating the authorities, agencies and policy-makers to build measures, programmes and plans which will harness and support the potential of women in all areas of the economy.

The stats are clear and indisputable: we need to move past analysis paralysis.  It's time for action.

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Gender Quotas and Binders Full of Women... the Perception Issue  |  The Female Entrepreneurship Q

It's hard to know what you don't know...

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This is a statement I overheard in conversation recently, and it made me laugh (whilst also giving pause for thought).  It IS hard to know what you don't know, especially when you're trying to keep all the "plates spinning" at the same time (as many micro business and SME owners know only too well).

The reality is: the plate spinning exercise requires adjustment, review and focus... which requires time.  That's the only way you can truly understand what it is you don't know and need to know.  Often, I hear the complaint of: "I can't spare the time"... my question is this: is your business, project or endeavour not worth creating the time?

Why time IS of the essence...

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This is one of those proverbs that I fear many of us despise.  It's usually rolled out at moments when time hasn't been 'of the essence' and for exactly that reason... we haven't had enough time.

I must confess to being an obsessive when it comes to allowing enough time, project managing timelines and so-on.  However that was not a skill I came to easily... I was in fact, time 'carefree' for many years until suddenly, I realised things just didn't happen without giving them the right time.

Why does it matter? Why is time 'of the essence'? Without it, the right people, resources or actions don't materialise... the measurables don't exist, and the outcomes, objectives and key deliverables don't happen.

Had a light-bulb moment? Write it down...

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I can't tell you how many times I've been at meetings, seminars, training sessions or simply in conversation - and heard the famous line - "oh, I thought of that too... exact same idea actually!".

The fact is - that person probably did have the exact same idea... however, the reality is, just as you're thinking of something, you can be guaranteed many others are too.  When you have a light-bulb moment [as so many of us do] - act.  Write it down, assess it briefly, and decide what to do with it.  Don't leave it in the archive of your brain, a hostage to someone else's action!

The difference between positivity and realism... and why you need both in business...

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We're all too aware of the necessity for a positive outlook in times of challenge and strain, however it's also important to be equally aware of when positivity must be tempered by realism.  You do need both!

Positivity: the power of positive thinking, the backdrop to potential, and often the route-map to success.  What about realism? it is the arbitrator,  the risk-evaluator and the clarity between positivity and possibility.

Why do you need both? Positivity acts as buoy, a support and a ballast - it's there to help you ride out the challenges and keep focused on solutions.  Realism, on the other hand, is the sensible 'head' that asks the questions that positivity often ignores.  Things like: how likely is it we'll win this project? Can we really scale this new product on our own or do we need help?  Positivity says yes to both - realism says: let's go for it, but let's also evaluate our risks and be more measured, what's our strategy and how will we do this?