Whale Hunting in Tampa

Monday, February 22, 2010 by Barbara Weaver Smith
I am pleased to introduce the new Whale Hunters Certified Partners in Tampa, Florida, who are hosting two introductory events this week, on Wednesday, February 24.  The Whale Hunters CEO Margie Traylor will be attending both events and talking with participants.

Rosemary Brehm and Brian Zaas are teaming up to launch Whale Hunters Chapters in the Tampa area.  Their first chapter will begin in early April.

Here's how you can learn more.

They are hosting an Intro to Whale Hunting at 12:00 - 1:00 pm.  This is a free event with light refreshments served.  You can register for this event here:
Open Registration--Free Event

Later in the same day you are invited to cocktails and hors d'oeuves at Capital Grille from 4:30-5:30 pm.  This event requires a $30 registration fee for food and beverages.  You can register here: Open Registration

 


Rosemary Brehm, president of turningpoints2results, is an entrepreneur and expert in helping organizations accelerate their potential into profitable results by focusing on five key shifts in their businesses: strategic business performance; leadership alignment; team dynamics; customer intimacy, and competitive positioning.   In addition to her consulting services, Rosemary is certified as a Professional Facilitator (CPF) through the International Association of Facilitators.

Rosemary was founding Chair of the Tampa Bay Women President’s Organization and served that group from 2003-2009. She is a member of the International Association of Facilitators; the Senior HRD Forum; ASTD; and the Organizational Development SIG.  She holds a Certificate in Training and Development from New York University and a Bachelor’s and Master’s degree from the State University of New York at Geneseo.

 

With over 22 years of experience in leading business development and sales efforts for Technology, Software, and Outsourcing solutions, Brian Zaas has a background in business operations optimization, systems integration, custom application development and technology leadership.  He has been responsible for driving global business development and professional service efforts for leading Fortune 500 corporations including Fujitsu, CA, and MCI-Worldcom as well as start-up growth for Pilgrim Software, Best Programs Telcordia, and most recently is leading efforts for Enterprise Solutions with Avineon.

He has led strategic and innovative solution areas for Fortune 500 and emerging growth customers in need of IT, technology, outsourcing and the infrastructure management.  Brian has also consulted with market leaders across a number of industries on leadership, pipeline development, innovation, and sales in new product development and market penetration focusing on large, complex deals. 

The Whale Hunters are proud to introduce these new Certified Whale Hunters Patners who will provide services to the Tampa business community.

 


Win Government Stimulus Contracts with Your RFP

Tuesday, January 19, 2010 by Barbara Weaver Smith
Free Expert Series Call January 20, 2010
Danny Ayala
 

Our new monthly Expert Series conference call (every third Wednesday at noon Eastern time) features a prominent speaker on a timely Whale Hunters topic.  This is a FREE call, and for the first call no registration is necessary.  Just dial in!

The call is hosted by The Whale Hunters founder Barbara Weaver Smith with FEATURED GUEST Danny Ayala, Director of BidSourceTM, The Greater Phoenix Chamber of Commerce government bid procurement program. BidSource has helped small businesses in Arizona win $1billion in contract awards since its inception in 1988.  Discussion will focus on RFP requirements for local, state, & federal government and following federal stimulus dollars.
Topic:  Winning RFPs and Government Stimulus Funds

 
Date:  Wednesday, January 20, 2010
Time:  9 am PST, 10 am MST, 11 am CST, 12 noon EST
Call duration: 60 minutes

Dial in: 866-476-8702
Participant Code: 929182#


 

For more information, contact The Whale Hunters Sales and Marketing Manager, Lindsay Bayuk, at lbayuk@thewhalehunters.com.

Whale Hunters Practice #23: Host the Big Show

Tuesday, December 15, 2009 by Barbara Weaver Smith

 
 
Many of our clients have never invited their prospective whale customers to their place of business for a presentation.  Yet for those who do, they close almost 100% of the business represented by prospects who pay them a site visit.  We call it "The Big Show."

Like all whale hunters activity, this one needs to be scrupulously planned and managed, from the moment the whale team arrives in your city to the moment they get back in their car or on the plane.

To plan The Big Show, you need an event script that is re-usable.  Specific details may change depending upon your prospect, but the overall process can be repeated.  Schedule the timing of all your preparations, not only the event itself.  Everyone who has a job to do, from ordering muffins to watering plants and straightening work areas, needs to know when their responsibilities must be completed.

The Big Show is a great way to get your entire employee group excited about new business development.  It's a method to get your workplace refreshed and your staff renewed.  Everyone will look around with fresh eyes at things that are cluttered, dusty, or old.

Many of your staff members should have a speaking role with the prospects.  On a plant tour or office tour, someone in the work area should greet the visitors and explain his/her role.  Preparing for that assignment adds credibility to their positions and capability to their contributions.

When you host a flawless Big Show, you demonstrate your ability to bring a new client on board seamlessly and collaboratively and you appear to be more in control and more process-oriented than perhaps you are!  And each time you do it, you become more in control.

We had a client with a call center business, a business that traditionally operates behind the scenes rather than in public.  Even when they moved into attractive new office space, it had not occurred to them that prospective customers would want to see the call center or meet their staff.  They were worried about how their staff would prepare and how they could really pull it off.  A call center is a rah-rah place, noisy, very casual dress code--under the radar.  But at our urging they decided to try a Big Show.  They bought logo shirts for all the employees, spruced up the conference room, scheduled a walk-around plus interviews with key Subject Matter Experts, hired a limo for airport transportation, booked their best downtown club for dinner, and in general went all out.

The first try was so successful that they built The Big Show into their sales process for all whale accounts.  Their success rate in closing big accounts skyrocketed, employee retention improved, and the accounts got bigger and more prestigious.

Have you ever hosted The Big Show?  How did it work for you?

Whale Hunting Practice #21: Energize Your Presentations

Monday, December 7, 2009 by Barbara Weaver Smith

 
At one or more points in your sales process, you will make a live presentation.  Buyers participate in these pitches all the time--how will you set yourself apart?

1.  Own the room.  Your most important tactic is to control the space in which you are meeting.  If the presentation is at your headquarters, you can assign seats, issue name tags, and provide table tents.  But if--more likely--your team is presenting at the prospective customer's site, how can you own the room?
  • First, be absolutely certain that you know who will be in attendance.  Check and double check with your key contact(s) and their staff.
  • Match up your presenters with their attendees.  Be certain that everyone on your team knows who they are responsible for on the whale buyers' team.
  • Show up early.  Bring table tents.  Place them where you want them.  Intersperse their team with your team.
  • If you are providing handouts or presenting any kind of digital presentation, own your technology and arrive in plenty of time to be certain it will work in their space.

2.  Surprise them.  Everyone else who has presented to this buyers' table has led them through a boring power point deck of some kind.  You need to be different!
  • Only use slides if you have powerful visual images to present.
  • Use no text on your slides--visual images only.
  • Insert short audio or video into your slides.
  • Ensure that no one on your team is watching the slides while they are being presented.
3.  Rehearse.  Bring your "boat" [hunt team] together to practice the sales presentationEnsure that everyone knows this is a professional business proposal taking place in an intense business development context for your company.
  • Be sure that each person has his or her power tools, power points, and power questions.
  • Rehearse with an internal and/or external team of supporters who will role play the potential client.
  • Be very clear who on your team will field questions from the prospect and direct them to the appropriate person on your team.  This person should not be the lead presenter.
4.  Train.  If you and/or your most important subject matter experts are not skilled presenters, invest in some presentation skills training.  Your media/PR firm can help, or your local Toastmasters, or a training firm such as Dale Carnegie--the options are almost innumerable.
Prepare everyone to speak comfortably in a sales/new business setting.
  • Provide everyone with the confidence needed to present assertively.
  • Communicate how important their performance is to your company's growth.
  • Praise and reward great participation.
You will find that great presentations not only increase your close rate but also energize your team to bring the new customer on board.  They will form priceless relationships with the end users on the customer side, and they will look forward to doing the new business.

Whale Hunting Practice #20: Train Your Subject Matter Experts

Saturday, December 5, 2009 by Barbara Weaver Smith

 
In a complex sale to a big customer, the buyers will want to meet your delivery team.  They will not be content to deal only with a salesperson or business development leader.  In fact, learning how to engage key non-sales staff in the sale gives you a huge advantage over other competitors, both large and small.

But this practice cannot happen successfully unless you devote some time to preparing.  The harpooner (salesperson) needs to learn how to orchestrate a team presentation.  No longer doing most of the talking, the sales lead introduces team members and manages all facets of the presentation, on the fly.

Likewise, key subject matter experts [SMEs] need to learn how to participate in a client-facing presentation.  They will need the confidence that comes from  knowing what is expected of them, having rehearsed, and understanding the whole plan.

We recommending preparing SMEs with three sets of material:

1.  Power Points.  Not a slide deck but a few key statements.  Each SME should know the most important points about your company, your product/service, and their role in the delivery.  And the harpooner should be prepared to ensure they have the opportunity to make their key points.

2.  Power Tools.  These are the fear-busters, those tangible pieces of evidence that calm the buyers and make you look capable of doing business with a whale.  Power Tools are documents, white papers, testimonials, charts, graphs, diagrams, pictures, processes--brief but very professional representations of your company's capabilities in areas that are likely to make the buyers afraid.

3.  Power Questions.   The buyers want to know what YOU need to know in order to serve them well, and they will expect your presentation team to ask intelligent and probing questions.  Be certain that each SME is prepared to ask one or more critical questions of the buying team, questions that will promote a lively discussion.

Teach your SMEs to incorporate power points, tools, and questions into the presentation.  Rehearse so that they understand when to speak and when to listen.  Invite other employees to role play the buyers and offer constructive feedback.

You will find that SMEs write better proposals and bring a new client on board faster and with fewer glitches and that your entire company becomes more excited about sales and business development.  They will have a new respect for the sales process, a better understanding of the customers, and a bigger stake in your growth.

How do you engage SMEs in your sales process?  We'd love your comments, tips and suggestions.
 

Whale Hunting Practice #17: Cultivate the Polar Bear

Monday, November 16, 2009 by Barbara Weaver Smith

 
In The Whale Hunters parlance, the Polar Bear is the one buyer with the authority to say "Yes" to a deal.  All of the caribou (technical buyers) can influence the ultimate decision, but they are relegated to saying NO or urging the Polar Bear to say Yes.

Sometimes the Polar Bear does not appear at the Buyers' Table.  One client related an instance in which they were working with a large prospect to implement a blogging strategy.  The deal had gone on for months, and the Marketing VP finally signed off.  But when the proposed contract went to Legal, the Polar Bear [head of legal!] said "No way are we starting a blog!  Too much liability!"

The CEO or CFO may be the Polar Bear.  If you are working with someone at the VP level, that person will most likely present himself or herself as the Polar Bear.  But very often there is a more formal, invisible vetting process that will take place once your VP makes a decision.  That's what you've got to find out ahead of time.

So in a complex sales process with a whale, here are some questions you need to ask--always behaving as if your champion is the final decision-maker, but understanding that usually it is more complicated than that:
  • who will be impacted by your decision?
  • will you introduce us to them, bring them to the table?
  • who are the people upline to whom you will present your decision/recommendations?
  • how can we help you present our solution internally?  What materials, formats, or meetings do you need?
  • what are some reasons that this project may stall even if you are prepared to move forward?
  • how can we help you mitigate those potential pitfalls?
If you are lucky enough to meet the polar bear in person, be sure to put your Founder/Owner/CEO at the table.  An important reason that big companies sometimes choose to hire small companies is that they know they will have control and attention.  Reinforce that selling point at every opportunity.

Small companies and those small companies with designations as women-owned or minority-owned or disadvantaged businesses  have huge opportunities to sell big deals to big companies that dwarf them.  To gain that business, you need to become very savvy about locating the real decision-maker--the polar bear.

Are you hungry to grow your business fast?  Do you have a sales process strategy designed to help you identify the polar bear every time?  Do you have a polar bear story to share with our readers?

I would love to hear from you about how your small/midsize company is landing large accounts and what is your experience with the polar bear.

Whale Hunting Practice #16: Think Like the Buyers

Friday, November 13, 2009 by Barbara Weaver Smith

 
 
The biggest lesson in whale hunting is this:  it's not about YOU!  When you and your team learn to think like the buyers are thinking, your success will improve exponentially and your business will grow rapidly.

YOU tend to think about your solutions, products, and services and how--in your mind--the big customers will gain amazing advantage by doing business with you.  THEY tend to think about what can go wrong, how they could make a mistake, and what would be the worst consequences of choosing you.

So, you have to learn to think like a whale.  And the whales are afraid of you!  Imagine the many buyers who will be involved in a big-company decision.  The procurement team, many of the end users, HR, Accounting/Finance, Legal, IT, Manufacturing, Shipping, Service and Support--a considerable list that varies according to your particular products and services.  A big team, nonetheless.  And the safest decision this team can make is to buy from another big company with a well-known reputation, a national or international brand, and a stable financial history--in other words, a company just like themselves.

YOU know that you can provide more flexibility, agility, innovation, speed, personal attention, and control--among other advantages--but they will never choose you as long as their fears linger.

To think like a whale?  Figure out everything about you that could be scary in sales and delivery.  Imagine what about small business or women or minority business or entrepreneurs or midsize or privately held companies that might scare them.  Think about your location, reputation, brand visibility, growth history, capital access etc. -- and then figure out how to present your company and your team as a capable, professional, sophisticated player.  THEN you can sell your advantages. 

The sales development strategy for whale hunters is to first alleviate fears, then promote advantages, and finally close with both.

Whale Hunting Practice #15: Progressive Disclosure

Thursday, November 12, 2009 by Barbara Weaver Smith

I wrote yesterday that your early meetings with the Buyers should be all about them and what you need to learn.  But the more you learn, the more you need to begin to disclose to them about your products, services, unique value proposition, your team, etc.

A strong sales process will identify what you intend to discover and what you intend to disclose at each step.  Of course your plan is subject to modification depending upon the whale's agenda; however, the more you control the timing and the content, the better your company will be positioned to make a big sale.

Now is the time to keep in mind that whale buyers are not usually looking for the best or most creative or most innovative idea.  They are looking for a reasonable solution that will work, meet their budget, cause the least resistance and the least internal disruption.  In other words, a safe choice.

What does this mean to you?  Your early disclosure should focus on these points:
  • ease of transition--how many things will NOT change if they hire you
  • short term ROI--what benefits can they expect to realize in the first few months that will make the buyers' team look good
  • safety factors--what qualities of your company are persuasive that you are solid, predictable, stable, and financially sound
  • how much your company and the whale company have in common re: sales and implementation processes, standards, systems etc.
Smaller companies tend to lead with their benefits and advantages in sales presentations.  Whale buyers have a hard time attending to your advantages until they know more about your safety factors.  So whether you are disclosing in an RFP, and/or presenting yourself as a certified women business enterprise or minority business enterprise or a  small business enterprise, your sales and business development team needs a good roadmap for what to disclose, and when, in order to win new business from whales.

Learn from a Blue Penguin

Friday, September 18, 2009 by Barbara Weaver Smith

I am a big fan of Michael Katz who founded Blue Penguin Development.  And not only because he also has an Arctic theme to his company!  (Penguins and whales are friends). 

Michael does only one thing, and he does it extremely well--he helps companies make money by producing e-newsletters for their customers.  So it's not surprising that Michael's newsletter is very good.

Usually it's good and also funny.  Michael allows his personality to shine through his newsletter, and he has "a way with words" that is honest and direct.

His current newsletter is about differentiating yourself in the marketplace.  So what?  The twist is that he observes human behavior that makes us want to fit in and to blend in, rather than to differentiate.  So this is different from your run of the mill "differentiate" lecture.

The sale cannot start without a message to your market.  But so many sales and business development messages sound alike!  Biz-speak, jargon, nonsense words substitute for fresh, original language.  Business owners and sales professionals need to work with their marketing team to ensure the message is unique.

Read Tie-Shy Guy and then sign up to receive Michael's eNewsletter every two weeks, on Friday.  He has great advice for your business--marketing that has a direct powerful effect on sales.   If you need help getting your newsletter started or revitalizing it, I recommend exploring his services.

P.S.  He also hosts ice cream socials, gives away tee shirts, holds open call-in hours, and generally speaking thinks up creative marketing ideas that are simple and inexpensive to implement. 

 

Leadership Lessons from Three Economic Sectors

Tuesday, August 25, 2009 by Barbara Weaver Smith
It was announced today that Frances Hesselbein, founder of the Leader to Leader Institute, has been named the Class of 1951 Chair for the Study of Leadership at the U.S. Military Academy at West Point.  She is the first woman and only the second non-military person to hold that distinguished position.

Why is this announcement relevant to business owners, entrepreneurs, sales professionals and business development professionals?
  • First, Frances Hesselbein spent years at the Peter Drucker Institute, helping to translate Drucker's business principles into leadership strategies for nonprofit and public organizations.  I believe that leadership lessons for your company are best derived from lessons learned in each economic sector--from the private sector we learn best about markets and competition, from the public sector we learn best about national interests and service, and from the nonprofit sector we learn best about social responsibility.  The better we can become at aligning these lessons, the more powerful and successful we will be as leaders in every sector.
     
  • Second, it is very good to see the US Armed Forces continuing on their path to a broader definition of "leadership" -- one that goes beyond military strategy to embrace a deep understanding of language, culture, and place as key elements in a military engagement.  Increasingly, these are key elements of a business engagement in the global economy.  We should expect lessons learned from this alliance that will enlighten business leaders in new ways.
     
  • Finally, I am pleased to see Frances Hesselbein recognized in this way for her phenomenal career's work.  Formerly head of the Girl Scouts of America, she has been a beacon for leadership education that embraces women and girls yet is not exclusive to women and girls.  She is a powerful role model for women business owners and entrepreneurs, demonstrating that collaborative, team-based strategies have their own source of power and can supersede top-down directive strategies.
As the economic culture continues its transformation from a primarily competitive culture to one in which collaboration--even among competitors--is more important to thriving, Hesselbein will be a good leader to watch.

Small Business and Stimulus Money?

Tuesday, August 11, 2009 by Barbara Weaver Smith
Today's NAWBO brief references a Wall Street Journal article by Victoria Knight about how small businesses are positioning to get their share of contracts funded by federal stimulus money.  Unquestionably, it can be lucrative to align your sales and business growth with that flow of dollars.

But it's a short piece hitting a few highlights, so I'm adding to it here: 
  • First thing you need to know is how the government defines "small business."  In most industries, the category includes businesses with as many as 500 employees.  So if you are much smaller, and much newer, than the competition, the odds are heavily stacked against you unless you have a product or service that the government wants and no one else offers yet.
     
  • The idea of presenting yourself as a subcontractor rather than prime is especially relevant.  Prime contractors need to demonstrate their inclusion of small businesses including women-owned and minority-owned firms.  Companies in those categories that are professional, reliable, and knowledgeable about government contracting are at a premium.  Rather than working directly for a local, state, or federal government, you work for the contractor.
     
  • If the subcontractor route interests you, build a sales process that targets prime contractors, not government agencies.  You will need a completely different approach and message.
     
  • If you have not done business deals with public agencies, understand that there is a great deal to learn.  Everything from how to respond to the RFP to how to invoice and track expenses will be new and foreign.  If you are not ready, the requirements can  undermine your company seriously.  Even as a subcontractor, you will need to contribute meaningfully to the proposal.
Educate yourself.  Learn all you can from non-competing small business owners who can fill you in on the process.  Understand that many of the free learning resources--seminars, workshops, database listings etc.--are too superficial or low-level to give you a comprehensive picture of the process of earning and delivering government work. Start there but set yourself a higher standard.

Invest in some expertise. Be certain you can understand the likelihood of winning a contract versus the cost of bidding on it.  The Whale Hunters do not recommend replying to a government RFP just to get the experience of doing it.  That strategy gives away intellectual property, demoralizes your team, and still does not guarantee meaningful feedback.  Rather, do the work you need to do and position to win.

If you need a Whale Hunting approach to the world of the government RFP, check out Winning Whales With an RFP in eBook format on our website.  Or give me a call at 317-815-1170--we have some deep experience in this arena.

Why You Need Women on Your Management Team

Saturday, July 11, 2009 by Barbara Weaver Smith




An excellent article in the Sunday, July 12 Washington Post called Fixing the Economy?  It's Women's Work.

It's a good one because it references a number of responsible studies, and because it is more about why companies need a leadership team that includes women than it is about women taking over.  I have been observing and saying for a long time that women often demonstrate superior skills and talents that are required for the 21st century economy.  Nice to be pointed to more research supporting that observation.

In my whale hunting practice, companies with women owners and/or CEOs have been especially successful in implementing the collaborative, team-based process that we promote.  I have also had very successful engagements in which women and men are both represented at the management table.

Conversely, I have been involved in very frustrating engagements in which there were no women in leadership--no women on the executive team, no women on the board, no women with serious P&L responsibility, no women in sales management, no women or only one or two women on the sales team.  It was also the case that these leadership teams had no other kind of diversity, either--no people of color, no international people, few people who were born or raised or educated in different parts of the country. In some cases there was a diverse employee group, but it didn't extend to the leadership/management team.

What characterized the all-male teams was a top-down view of leadership--the view that only a few people in the company had the knowledge, experience, and wisdom to lead.

What characterized the more diverse teams was a desire to embrace more collaborative, team-oriented process to draw on all their employees' talents for business development and sales.

Now I want to pay attention to what it's like when the entire leadership team is female.  Haven't had that engagement yet, but I suspect that if there is insufficient diversity of experience and opinion and gender, it would be a flawed team--just flawed in different ways.  Today's business needs, however, will certainly favor an all-female team over a team that is all male.

So all you small and mid size business leaders who are whale hunting--read this article and consider how your company can accelerate its growth through a more diverse management and governance team.


Forbes--You Got it Wrong

Thursday, July 9, 2009 by Barbara Weaver Smith
I just got an email inviting me to join Forbes Woman, the new offering that Forbes launched July 1.

So excuse me if I'm wrong, but isn't Forbes about business?  I guess unless you are female.

Lead story is on depression.  "Power Women" segment features Mrs. Madoff and Mrs. Sanford (title should be "power-less"!).  Other front page topics:  Summer fashion.  Easy beauty. And How to Raise a Rich Daughter.

These are the leading links in my invitation email:

How will Sarah Palin's resignation affect her career?

Who does most of the housework in your household?

Has the recession affected your spending habits?

These are not questions that affect my business life or even my "balanced" life.  Ladies Home Journal cornered that market a long time ago, and People covers the dirt on public figures.  If these are questions of interest related to business, they are not gender-specific.  Could you possibly imagine an invitation to male business owners based upon questions like these?

The Forbes Fiasco comes right on the heels of Dell's incredible faux pas in launching the "Della."

But this blog is about sales and business development, so I need a link from my real anger at Forbes to some positive ideas or actions for business owners and sales leaders.  Especially women, but this is equally important for men.

In the jargon of my business, Forbes is a whale--a big company with a big reach, a big media reach.  It matters when major businesses screw up like this.   Business people around the world--owners, entrepreneurs, executives, employees, students, wannabe's--they look to Forbes for insight, support, advice, and current events, and not incidentally, the current business environment in the United States.   What is the message?  The message is that in the midst of a very difficult global economic climate, the American business women are busy standing by their men who cheat and lie, focusing on their office outfits, buying make-up and shoes, and making their daughters rich.  That is not a good message or a remotely true message!

I am an advisor to small and midsized business about how to grow by doing bigger deals with bigger clients.  It is ALL about understanding your target customer and presenting yourself in a way that is attractive to them, meets their needs, does not annoy them, and does not frighten them.  This offer I received from Forbes violates all of those criteria.

So before you make the Forbes mistake, my advice is to consult with your target audience about their business interests, their business needs, their business challenges and their perceived opportunities. 

The people at Forbes are obviously trying to get on the very popular and lucrative women-in-business bandwagon.  I applaud their motives and hope they will find a way to be successful.  But here's just a quick laundry list of topics that would be oh-so-much more interesting to business women:
 

  • who are the lenders and investment bankers targeting women-owned businesses?
  • how can your company get involved in the federal stimulus package?
  • How are female leaders and employees responding to downsizing and outsourcing? 
  • What can you do when you are downsized or outsourced?
  • How can business owners mitigate the recession influence on their employees?
  • what are the most promising new business fields or opportunities of particular interest to women?
Let me be clear.  I do not think it is condescending or inappropriate for businesses and business media to target certain audience segments.  I have often targeted women business owners through the Whale Hunting Women program.  But if your only understanding of gender-interesting issues comes down to clothes, make-up, and housework, you are just missing the boat. 

I invite your comments.  This worth arguing!

Do you have family in your business?

Tuesday, July 7, 2009 by Barbara Weaver Smith

My friend Lorraine Ball, founder of the marketing firm Roundpeg wrote an interesting blog post this morning that got me thinking.  It's about having just hired her daughter to work in her company, wondering if they could make it work?

Lorraine asked for thoughts from other business owners about their experiences.  I have not hired any of my children except for short stints in the summer.  I did hire a nephew in a full-time position, and we did not manage that well.  However, in my Women Presidents' Organization group are two women who have adult sons in their employ at very high levels, and others who have family members in their business.

Since hiring and overseeing family members is a common thread in our WPO discussions, I've learned how they are making these business relationships work.  And I thought perhaps many of you are dealing with family members who are partners or employees.

Here are some ground rules that seem to be effective:
  1. Clearly defined responsibilities and outcomes-based performance expectations, in writing, and agreed upon in advance.
     
  2. Agreement on the time line of deliverables and the consequences of failure to meet performance expectations.
     
  3. Separate business conversations from family conversations.  For example, during the business day, all conversations are about business.  Family conversations are for after-hours.
     
  4. Never talk to other family members about business issues until you have first discussed with each other.  No surprises!
     
  5. Frequent, scheduled review of how things are working.
     
  6. Identification of an agreed-upon mediator that either can call if an issue can't be resolved.
Small businesses often start as family-owned businesses.  Many of The Whale Hunters' clients are owners of family-operated businesses that have many non-family members as leaders and employees.  One company is now in its third generation! 

Business women and business men alike may find themselves thinking of hiring family members, or perhaps you have done so and been disappointed.

I invite you to contribute your ideas by making a comment, and I will share your thoughts with Lorraine.


Exploring Competition and Collaboration

Sunday, June 28, 2009 by Barbara Weaver Smith

I posted the first of a series of blog posts today on the topic of "competition" and "collaboration"  at the Women on Business blog.

I believe we are operating in an economy in which the skills of collaboration are even more important than the skills of competition.  But I have been challenged to better define where competition comes in, for business success and for motivation to excell.

I'll be exploring this topic in the next few days as it relates to sales and business development.  Please log in to Women on Business for the first take.  Thank you!

 

More Great Women Bloggers

Monday, June 22, 2009 by Barbara Weaver Smith
Here's a link to my weekly post at Women on Business.

This week I've written about Joyce Anthony, MaAnna Stephenson, Rebecca Benston, and Hazel Walker.

They all blog at least indirectly about business development and the first three focus on business women, women entrepreneurs, and business opportunities for women.

Hazel Walker, who is an offline friend of mine as well as an online friend, blogs bout how to build a powerful referral network.   Great stuff!

A Community of Ravens

Friday, June 19, 2009 by Barbara Weaver Smith
This week I was a keynote speaker hosted by the Business Clubs of America (BCA) , Phoenix Metro Chapter.  I attended an evening reception for members and a luncheon for members and guests that attracted 200 business executives and entrepreneurs.

This organization is a high-powered referral organization.  In each market, noncompeting companies pay a membership fee to own their vertical.  Unlike "networking" organizations, BCA offers its members a structured method of introduction to, well, anyone in their business community that they want to meet.  Members commit to bringing their acquaintances to the table at guest events and commit to making introductions upon the request of their fellow members.  These are not simply phone or email intros but face-to-face encounters over breakfast or lunch.

In The Whale Hunters Process, a person who wants you to be successful, who intervenes on your behalf in a deal, is known as a raven. I suggested that the BCA was a community of ravens for its members.  Here are some functions that ravens will perform at your request:
  • make a warm introduction to someone you want to meet
  • refer you and your company to others of their acquaintance
  • serve as a reference for you
  • be "on your boat" in pursuit of a deal, when appropriate
  • tell your story to the right people
  • put you in front of groups who are interested in your message
  • advise you about your approach, your message, your strategy or tactics
Another organization of ravens is The Referral Institute, owned in Indiana by my friend Hazel Walker.  Through this program, entrepreneurs and executives learn to become prized referral partners for one another.  This process is absolutely critical to business development and to the sales process for big deals.  As smaller companies, we need to create a powerful network of people who are deeply experienced in our services, our values and ethics, and our market. 

Ravens who know you and believe in you priceless assets.  Cultivate your ravens and take good care of them.

Take-Aways from Whale Hunting Women Summit

Saturday, June 6, 2009 by Barbara Weaver Smith

The Whale Hunting Women Summit in Indianapolis was a great success on Thursday June 4.  More than 175 awesome business and professional women attended, with some very self-assured men in our midst!

In a new format this year, we had two sessions of "voices and vignettes," each featuring three women talking about one or more big deals in their lives and how they handled both the adversity and the opportunity.  We also had two keynote speakers (plus me!).

I wanted to share my most memorable take-aways from these women, who spoke from their hearts and their experiences about how they've done deals in big business and small business and sales and community, as entrepreneurs, philanthropists, sales professionals, speakers, and educators.

The deals they've done are very diverse--taking on new careers, launching new businesses, building and turning around nonprofit community organizations--building things, raising money, creating powerful partnerships.

These are five themes that I heard over and over, from the lives of whale hunting women:

1.  "Can't" is a catalyst

When someone else says "you can't" -- whale hunting women have transformed that negative feedback into a fierce motivation to complete a goal.  The closer to you that person is, perhaps the stronger is your motivation to prove the prophecy wrong.

2.  "Shouldn't" is a spark

Often the people closest to you are afraid of what will happen to them if you succeed; hence they encourage you not to try.  Whale hunting women have transformed the "should not" into a powerful "must."

3.  "Boat" is a blessing

The Whale Hunters use the metaphor of "the boat" to indicate those co-workers, friends, and supporters who are on board to support you in landing a big deal.  Whale hunting women populate and launch their boats.  You cannot hunt whales alone!

4.  Learning is Leverage

Our speakers have a very wide range of formal education, from almost none to a whole lot.  Most of them have changed careers several times.  In every case, they sought out new learning opportunities, applied to their needs, and self-directed--including formal and informal learning and training.

5.  Despair breeds determination.

We heard some stories of times of true despair--women who faced physical danger, who dealt with economic ruin, who were betrayed by people they trusted.  In these stories of survival, women were able to channel their despair into a determination to change their circumstances.

As I look back at these lessons, I am struck by how often there was a very negative event or circumstance that inspired a woman to take a bold new step, regardless of her fear or negative feedback.

So in these scary economic times, if you are grappling with any  demons or big-stretch opportunities,  take heart from the whale hunting women who shared their stories to inspire others.

Soon we will have video and still photos of the Summit to share with you. 

Business Women Bloggers to Follow

Sunday, May 31, 2009 by Barbara Weaver Smith
Just finished my weekly Sunday post for Women on Business.

This week it's about four business women who freely contribute exceptional ideas to the small business marketplace.  Each of these women offers consistent useful information on
  • business growth strategies
  • sales development
  • marketing and social media
Three of the four have a special bent--or perhaps a special voice-- towards business women and women entrepreneurs, but their advice is solid regardless of your gender.

They are:I am happy to introduce them to my blog readers in this week's article.

How to Overcome 3 Obstacles to a Success Mindset

Friday, May 29, 2009 by Barbara Weaver Smith

 
 
Monica Flores, founder of A Successful Woman, invited me to write three guest posts for her blog this week.  Monica and I are both columnists for theWomen on Business blog, which is owned by Susan Gunelius.

One of Monica's most important goals is to encourage business women to have a "success mindset" or orientation.  If we live with the idea that we are successful, are moving towards success, are capable of success and are worthy of success, we are a long way towards greater achievement.

I wrote about three obstacles to a mindset for success, which Monica published this week:

Breaking the Minnow Mindset  How to match your thinking to your progress.

Overcome the Culture of Scarcity  How to live in a culture of abundance.

Overcome This Sluggish Economy  How your inner attitude influences your opportunities.

Thank you, Monica, for hosting me on my virtual blog tour!  [Which, by the way, is to promote my newest book, Whale Hunting Women, Volume I, available in eBook version at www.thewhalehunters.com and soon to be available in print.