10 Global Marketing Tips (Guest Blog #2 from Beverly Cornell, Director of Sales/Marketing at Iterotext Translation Services)

By KNS | October 7, 2008

Among the E2detroit 2008 team’s many supporters are our community partners —- prominent among them is ConnecTech, an arm of Automation Alley.  (And a September blog featured a guest opinion from the current energetic and talented ConnecTech Manager:  Danielle DeLonge).  Automation Alley cannot succeed without strong leadership and talent from its member companies, and their individual executives.  Beverly Cornell, Director of Marketing/Sales at Iterotext Translation Services is an exemplary member of the Automation Alley/ConnecTech community.  She ably steers Automation Alley’s Marketing Committe; and is a tireless contributor to the  knowledge base and skillset that Automation Alley contributes back to its almost 1000 member companies.  We are grateful that she is also a strong supporter of E2detroit 2008, and was kind enough to contribute some words of wisdom to our entrepreneurial community, in two guest blogs.  Here is the second one:

“10 Global Marketing Tips

Just as with a local/domestic marketing campaign,  buidning an international marketing or PR campaign is not easy, inexpensive, or quick;  but a well thought out strategy and executed plan can make all the difference between success or failure.

Here are the top 10 tips I recommend when you are tackling this challenge:

  • Ensure that your local and national marketing is on target, and you can handle another strategy in the mix.  Be sure that you have focused on the competition that exists in your home market, first.

 

  • Do your homework.  Determine which country or market would be best for your product or service.  This may include working with an agency in the market that you want to enter.  As with any marketing strategy, it is imperative to thoroughly know your target market.  You can approach this as a ‘waterfall strategy’ by choosing one market at a time, or as a ’sprinkler strategy’ by entering multiple markets simultaneously.

 

  • Check out your competition. What are the competitive driver(s) in the new market(s)?  Know your battleground.

 

  • Does it make sense to find a local partner in the new market(s)?  Maybe there is a partner in-country upon which you can ‘piggyback’  by adding your product to theirs.  Enter these promising partnerships with due diligence.

 

  • Translate and localize your website/marketing materials for your target market/country.  This means using a reputable translator or translation agency with subject matter expertise.  I don’t recommend using a machine or software like Babelfish.  You don’t want to make the same mistake as GM did when launching the Chevy ‘Nova’ in Spanish-speaking markets. (’Nova’ means ‘no go’ in Spanish!).   By translating your Website, your global search engine optimization will enable the process of your ‘being found’  to be increased in your target market.

 

NOTE:  Remember that even in English-speaking countries, there are a number of differences in language.  Use of visuals can be very powerful in international marketing.  They may transcend cultural differences, and help compensate for language barriers.  Be sure to note that most of the world functions in the metrics system when dealing with measurements, as well.  Be careful of specific regulations for each market that require certain adaptations your packaging, etc. Studies show that people are 40% more apt to purchase from companies who translate their marketing materials.

 

  • Use international press to your advantage. By generating press locally in the United States, you can make these articles available worldwide through the global Internet. However, if you can get press in the market you want to enter,  that would be VERY powerful in building credibility and recognition.  An international PR agency may be able to help you raise visibility within your target market.

 

  • Use global trade shows (focusing on the most important one in your industry), and events to promote your company.  These events often attract a captive audience, which includes potential customers, industry analysts, and international press.  Be sure to arrange briefings with the media and with analysts.  You don’t even have to invest in a booth to field those briefings, successfully.

 

  • Speak at international events. This is an excellent way to share your story.  Be sure to speak with conference organizers several months to a year in advance to be included on the schedule, which includes lots of promotion.  A steady stream of speaking engagements around the world at key events will help your company’s exposure.

 

  • Hosting your own event might be a bit more costly, but (if done well) would be a feather in your cap.  A cocktail reception or luncheon with selected, highly respected industry influencers allows you to foster and nurture relationships in a more informal setting.

 

  • Ensure that all of your marketing materials are saying the same thing to your target market. A consistency in marketing and PR will ensure that your messaging and positioning are synergistic across all your communications channels.

 

Going global is not a matter of flipping a switch —- it’s a matter of evolving and expanding.

Happy Marketing!”

About Beverly Cornell

Beverly Cornell is a multi-talented (and busy!) professional.  In addition to her 24 x 7 role as Director, Sales/Marketing (worldwide) at Iterotext Translation Services,  Bev is also the Blogger/Host of www.GlobalBusinessPerspectives.com.  In her community life, she is an avid contributor to a number of philanthropic causes, and (as mentioned earlier) Chairperson for the Marketing Committee at Automation Alley, a Southeast Michigan association uniting small and large businesses throughout 9 counties.

Prior to joining Iterotext,  Bev was Marketing and Business Development Manager at PALS International, Supervisor, Retail Brand Alliance, and an Account Manager at BBD&O.

Bev’s undergraduate degree is from Oakland University, and she is a proud MBA dgree holder from Wayne State University (primary sponsor for E2detroit 2008).

Bev’s passion for language, culture, communications and learning allied with her growing mastery of social media channels and Web 2.0 communication techniques  (combined with her experiences living in both Spain and Brazil) are hallmarks of her career, and her evolution as a global marketing expert.

Come and meet Bev, who will be in the audience at E2detroit 2008!

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Four Tips To Take Your Company GLOBAL (Guest Blog #1 of 2, from Beverly Cornell, Director of Marketing/Sales at Iterotext)

By KNS |

Among the E2detroit 2008 team’s many supporters are our community partners —- prominent among them is ConnecTech, an arm of Automation Alley.  (And a September blog featured a guest opinion from the current energetic and talented ConnecTech Manager:  Danielle DeLonge).  Automation Alley cannot succeed without strong leadership and talent from its member companies, and their individual executives.  Beverly Cornell, Director of Marketing/Sales at Iterotext Translation Services is an exemplary member of the Automation Alley/ConnecTech community.  She ably steers Automation Alley’s Marketing Committe; and is a tireless contributor to the  knowledge base and skillset that Automation Alley contributes back to its almost 1000 member companies.  We are grateful that she is also a strong supporter of E2detroit 2008, and was kind enough to contribute some words of wisdom to our entrepreneurial community, in two guest blogs.  Here is the first:

“4 Tips For Taking Your Company Global

When there is an economic downturn, what do you do with your marketing strategy?  Expand globally.

The stars are currently aligned to take your business overseas.  With the weak dollar, foreign markets are enjoying a high quality of products at garage sale prices.

So, how do you get started?  Here are some basic tips:

  • Our government has plenty of resources to assist you in establishing your footprint around the world.  Among them are the U.S. Commercial Services, the U.S. Chambers of Commerce, local foreign chambers of commerce, and many foreign consulates/trade commissioners stationed around the country —- with a strong focus to help you take your business across borders.

 

  • Do any of your current clients, vendors or other business partners have an international presence?  You might be pleasantly surprised by how many of your clients have ‘gone global.’  Ask them about their experiences. Ask them if any of their international contacts can help you get started.

 

  • The Internet is a great resource for you to do research, and learn mre about potential target markets.  Sites like www.ciafactbook.com are terrific places to start.  In addition, sites like LinkedIN can help you connect, and get advice from people all over the world.

 

  • I am a huge advocate of actually getting your feet wet by visiting the places that you are thinking of targeting.  By meeting people, face to face, assessing operations and cultural issues, you will have more information on how to do business successfully.

Diversification of your business just makes sense.  Don’t put all your eggs in the domestic marketplace.”

About Beverly Cornell

Beverly Cornell is a multi-talented (and busy!) professional.  In addition to her 24 x 7 role as Director, Sales/Marketing (worldwide) at Iterotext Translation Services,  Bev is also the Blogger/Host of www.GlobalBusinessPerspectives.com.  In her community life, she is an avid contributor to a number of philanthropic causes, and (as mentioned earlier) Chairperson for the Marketing Committee at Automation Alley, a Southeast Michigan association uniting small and large businesses throughout 9 counties.

Prior to joining Iterotext,  Bev was Marketing and Business Development Manager at PALS International, Supervisor, Retail Brand Alliance, and an Account Manager at BBD&O.

Bev’s undergraduate degree is from Oakland University, and she is a proud MBA dgree holder from Wayne State University (primary sponsor for E2detroit 2008).

Bev’s passion for language, culture, communications and learning allied with her growing mastery of social media channels and Web 2.0 communication techniques  (combined with her experiences living in both Spain and Brazil) are hallmarks of her career, and her evolution as a global marketing expert.

Come and meet Bev, who will be in the audience at E2detroit 2008!

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The Blue Ocean Strategy - (Blog #2 of Two Parts) The Best of the Best Companies

By KNS |

 Blue Ocean Strategy Case Studies : The Best of the Best of Differentiated  Companies

 

Cirque de Soleil

 In our previous blog, we discussed some of the basic premises of company creation examined in ”Blue Ocean Strategy“ by W. Chan Kim and Renee Mauborgne.

 One of the case studies cited in the book is the incredibly successful Cirque de Soleil.

 The criteria/boundaries/rules for the circus industry, taken for granted over decades, included animal shows, stars and famous performers, 3 rings of simultaneous shows occurring at once, and the promotion of concession sales. Rather than keeping a strong emphasis on all the existing rules and then  adding new ones, Cirque de Soleil either eliminated or reduced many of those rules and created a bunch of new ones.

A key thing the Cirque de Soleil team did was that they looked across market boundaries to alternatives to the circus. The result ended up being part circus and part theatre. Rather than focus on the market boundaries, they focused on the job the customer was hiring for — in this case, it was adults looking for sophisticated entertainment. Another key thing they did was not target the existing market (i.e. children), rather they targeted non-consuming adults.  In the process, they increased value for their target market while lowering their own costs.

Southwest Airlines

One of our very first E2detroit blogs, published in August, 2008, (entitled “Are Entrepreneurs Born or Are They Made?”) cited wisdom from the legendary founder of Southwest Airlines: Herb Kelleher. 

The Blue Ocean Strategy authors propose a graphical framework for helping readers understand the book and for helping businesses create blue oceans of their own by using a framework tool applied to Southwest Airlines.

Southwest entered a terrible marketplace . Most of the major airlines played the same game with only the slightest of nuances.

As talked about in our previous blog re: The Blue Ocean Strategy “rules”, Southwest eliminated many of the rules/criteria in the industry, reduced focus on some of the rules below industry standard, raised focus on some of the rules above industry standard, and created new rules of their own.

The way they were able to do that was they targeted non-consumers (family/shorter trips v. business trips) and they looked across industry boundaries at alternatives (cars v. planes) as their competition versus looking at traditional airlines. Only by de-emphasizing some of the existing rules were they able to lower costs enough to compete in this new market.

Southwest continues to stand out as a success in a highly competitive market, fraught by economic issues.  They turn a profit every quarter!  So can you…

 Blue Ocean Strategy Framework

 

 As discussed in our previous blog, the book essentially encourages the reader to come up with his/her own industry’s “standards.” They then give the reader four questions you can use to think about your company/market from a blue ocean perspective:

  • Which of the factors that your industry takes for granted should be eliminated?
  • Which of the factors that your industry takes for granted can be reduced?
  • What factors should be raised well above your industry’s current standard?
  • What factors can be created that your industry has never offered?

And the book suggests that an ideal company creation strategy has 3 qualities:

 

 

 

 

 

  •  FOCUS (not too many criteria;  a simple focus on excellence, and how to differentiate yourselves)
  • DIVERGENCE (from the alternatives in the framework that defines your industry) AND
  • A COMPELLING TAGLINE  (a concept near and dear to this marketer’s heart —- telling your story in a short, pithy, all-encompassing phrase;  defining your company, your mission, your vision!)

How can you apply Blue Ocean Strategy to your venture?

How can you use these theories to “re-invent” your company and eliminate your competition?

We would love to hear your thoughts!

 

 

 

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Blue Ocean Strategy - (Blog 1 of Two Parts) by Kim & Mauborgne - A Primer for Excellent Company Creation

By KNS | October 6, 2008

Blue Ocean Strategy  – A Primer for Company Creation

Essentially the most compelling theme of the business best seller “Blue Ocean Strategy” is that successful start-ups and businesses who want dynamic growth should monitor the key competition but never FOLLOW the competition. Or in the words of a former colleague of mine “you should play a different game on the same field as the competition.”

In most marketplaces, conventional wisdom about the rules of competition build up.  But over time, those rules become irrelevant to the people you want to serve —- your potential customers.

Here are some excerpts from the book, itself, that discuss this better than I can:

·         “The only way to beat the competition is to stop trying to beat the competition. In red oceans, the industry boundaries are defined and accepted, and the competitive rules of the game are known. In blue oceans, competition is irrelevant because the rules of the game are waiting to be set. …”

·         “The companies caught in the red ocean followed a conventional approach, racing to beat the competition by building a defensible position within the existing industry order. The creators of blue oceans, surprisingly, didn’t use the competition as their benchmark. …Instead of focusing on beating the competition, they focus on making the competition irrelevant by creating a leap in value for buyers and your company, thereby opening up new and uncontested market space. …”

·         “Value innovation is based on the view that market boundaries and industry structure are not ‘given’ and can be reconstructed by the actions and beliefs of industry players. …To fundamentally shift the strategy canvas of an industry, you must begin by reorienting your strategic focus from competitors to alternatives, and from customers to non-customers of an industry. As you shift your strategic focus from current competition to alternatives and non-consumers, you gain insight into how to redefine the problem the industry focuses on and thereby reconstruct buyer value elements that reside across industry boundaries”


How Does A Creative Entrepreneur Jump Into The Blue Ocean?

The book suggests that the way to create a new and compelling value proposition is to come up with your own answers to the following questions, when you are trying to create a new category of company in an existing industry.  Ask yourself:

 

  • Which of the factors that the industry takes for granted should be eliminated?

 

  • Which factors should be reduced well below the industry’s standard?

  • Which factors should be raised well above the industry’s standard?

 

  • Which factors should be created that the industry has never offered?

In our next blog,  we’ll give some examples that Blue Ocean Strategy cites as great examples of how to jump into the water!  Stay tuned.

 
 
 

 

Please share your thoughts ….how do YOU create a completely new company, or an industry category that innures you from competition?

Is it really necessary to do so?

What would you recommend differently from what W. Chan Kim and Renee Mauborgne recommend?  Or are there ways to build on their theories?

Please share your thoughts with our community!

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Culture Transformation and “Tokenism” (Guest Blog #2 from Jane Sydlowski, President, AMI Strategies)

By KNS | October 5, 2008

Here is Guest Blog #2 from E2detroit long-time supporter and colleague, Jane Sydlowski, President of Farmington Hills-based AMI Strategies, a company devoted to serving clients through technology-based telecommunications expense management systems and services (www.amistrategies.com).

In Guest Blog #1, Jane discussed the nature of the entrepreneur (and many of the blogs here talk about that, but Jane has a uniquely personal point of view);  what she terms the ENTREPRENEURIAL EXPERIENCE ENGINE that she would like to see revved up here in Michigan; and what we, all, need to do to encourage Michigan’s succeeding generations to be part of that engine.  Here she talks more about our state and its need for entrepreneurs, and what it’s like to be a woman entrepreneur.

“Knowing the huge degree of accountability required to be an entrepreneur, I think there is really only a small percentage of American citizens, who have such ultimate responsibility for themselves, and for others.  And particularly in Michigan, we need to face the fact that ‘entitlement’ , when you are a small business founder and leader, is nonexistent.  In fact, because of SBT (Small Business Taxes), being a small business leader is the polar opposite of ‘entitlement’ (that topic could be a complete other blog, in and of itself!).

With such a large population of Michigan workers used to ‘corporate benevolence’, as I discussed in Blog #1, we need to candidly ask ourselves: ‘Does the Michigan business population really have the emotional, financial, creative, and skill strength to handle entrepreneuralism?’  It is a very serious question.  The contrast between what it takes to be an entrepreneur and a corporate staff member, or manufacturing worker, is stark.

Could Governor Granholm jumpstart this effort to move to a culture of entrepreneurialism?  Or, better yet, could we?  Clearly start-up capital, growth capital all matter.  The State can offer incentives and matching programs in this area.  We have certainly seen the State of Michigan step up to Alternative Energy and Life Science support.

The interesting exercise that exists with any funding effort is figuring out how you evaluate the good ideas from budding entrepreneurs, and transform them into real, profitable businesses.  It is improbable to assume that the State would have these skills consistently on staff.  Clearly, it is up to entrepreneurs to mentor other entrepreneurs, somehow. 

There is no better opportunity for an awakening than for a budding or existing entrepreneur to present to a bunch of angel investors. (Can you picture the majority of our laid-off automotive workers making that presentation?)  That would be a stretch!  But we need to address it.  How do we transform our Michigan workforce?  I don’t have that answer as I write this blog, but I wish I did.

I am encouraged to see the many new programs that are being initiated that help start the Entrepreneurial Experience Engine. Publications like WWJ’s ‘Daily Dash’ have an entrepreneurial section;  Michigan News Network publishes a bi-weekly ‘Entrepreneurial News’.  Matt Roush, editor of the Great Lakes IT Report, has always supported entrepreneurs in his daily, widely-read electronic newsletter.  And our Universities are clearly getting on the bandwagon.  E2detroit is a great example of a program, open to the public, totally devoted to this cause.  Judy Johncox and Terry Cross were brilliant, and ahead of their times, when they founded it, four years ago.  University of Michigan has many programs, too —- like the Samuel Zell and Robert H. Lurie Institute for Entrepreneurial studies.  That is a hands-on program for a new generation of entrepreneurs, allowing students to experience real-time, real-world entrepreneurialism. 

On to one of my favorite subjects, now:  to become the entrepreneurial state, WOMEN need to be a focus of the ENTREPRENEURIAL EXPERIENCE ENGINE here in Michigan.  The statistics say that for every man opening a business, today, there are two women doing the same thing!  Personally, since I am often picked to be the token (defined as competent, but minority) member of entrepreneurial panels,  I find it completely shameful that there are not more of us to stand up as successful women entrepreneurs.  What does this say about us?

In my opinion,  often women do not mentor other women very well.  In general, women are not great risk-takers.  In fact the ‘tough stomach’ that I mentioned in Guest Blog #1 is extremely relevant for women.  We are raised differently.  We have not experienced football coaches, nor any brutal training program that may have prepared us for mental toughness.  We all played the flute, and attended dance classes (ok, admittedly, I never danced…lol).  Although these skills are important, and do contribute to the quality of life,  they do little to help you face the music during a tough negotiation, or when dealing with an abusive employee, and so on.

Knowing what we know to be true, overall, about women and their skills, and coupling that with the fact that they are opening businesses at twice the rate of men, how do we capitalize on the female entrepreneurial spirit for our ENTREPRENEURIAL EXPERIENCE ENGINE?  What a serendipitous opportunity for Michigan —- a state with a  female governor!

My company (AMI Strategies: www.amistrategies.com) will experience double digit growth over the next 4 years. I take great pride in what we do.  And I literally kiss the door as I walk through it, each morning, in appreciation of the fact that it exists!  If I could bottle up that appreciation and share it (or sell it —- give me a break, I’m an entrepreneur!) with everyone in Michigan so that they could really (and I mean REALLY) understand what it means to care that much about opening your own door to your own company, I would just do it!

As I said in Guest Blog #1, why do we care about this?  Because it’s MICHIGAN’S FUTURE!

See you at E2detroit 2008!”

Do you agree with Jane?

How do we transform a workforce, with a sense of corporate entitlement, into small business leaders?

What else do we need to rev up the ENTREPRENEURIAL EXPERIENCE ENGINE?

And do think this is essential to Michigan’s future?  Let us know.  We welcome your comments and feedback!

 

About Jane Sydlowski

As Founder and President of AMI Strategies, a WBEN enterprise established over 17 years ago, Jane Sydlowski has assembled a dynamic and experienced team to design, build and manage her clients’ technology infrastructure, while finding ways to lower their cost of communications. Jane has created a vision for AMI that includes 100% client satisfaction, profitable growth, respect for the individual, and employee empowerment.

Under Jane’s leadership, AMI was recognized among the 2003 Deloitte Fast 500 public and private technology companies, 2002 and 2003 Inc 500 fastest growing private companies, and 2003 Crain’s Best Places to Work.

Jane has a Bachelors of Science in Applied Engineering from Michigan State University and an MBA from Wayne State University. She successfully completed the marketing program of Thomas Learning Center and is a Dale Carnegie graduate for both the Human Relations and Sales Courses. Among her honors, Jane has been awarded the MSU Applied Engineering Distinguished Alumni Award; the Association of Women In Computing Leadership Award; the Detroiter Magazine’s award as one of Michigan’s Top 100 leaders in 2004; and the Lawrence Technological University Leaders and Innovators award in 2007.

Jane speaks to graduate students regularly for the Wayne State University entrepreneurial program and she serves on three boards: The Michigan Council of Women in Technology, Greenpath, Inc. and the Board of Visitors for Wayne State University

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The Entrepreneurial Experience Engine - It’s Michigan’s Future (Guest Blog #1 from Jane Sydlowski, President, AMI Strategies)

By KNS | October 2, 2008

The E2detroit 2008 team is blessed to have an Executive Advisory Board that includes business and entrepreneurial “superstars” from the region.  Among them is long-time supporter and colleague, Jane Sydlowski, President of Farmington Hills-based AMI Strategies, a company devoted to serving clients through technology-based telecommunications expense management systems and services (www.amistrategies.com).

Among many others awards,  Jane has received a “Distinguished Alumni” honor from the School of Engineering at Michigan State University, but (as she discusses below), she no longer defines herself solely as an engineer:

“Let me tell you my background.  I have lived in Michigan my entire life, starting in Muskegon, migrating through East Lansing, and now based in Plymouth.  I serve on a number of Boards (the Michigan Council of Women In Technology,  and the Board of Visitors for Wayne State University’s business school, among them).  But who am I, really?  I am an ENTREPRENEUR.  And, believe me, when you admit this, it is similar to admitting that you are an alcoholic or have any other addiction!

Why would I say that?  Because entrepreneurs are addicted to their selected profession.  They take charge of their lives and their destinies.  They are a little weird, and march to their own beat.  They are personally accountable to themselves, their individual performance, their own happiness, and their own livelihood.  The buck stops with the person staring back at them from the mirror.  And, if that isn’t enough,  they are also responsible for the livelihood of others —– which, for many of us, is an even greater joy than taking care of yourself.

Naturally, I think entrepreneurs are wonderful.  And I often think that in our great state,  we need many more of them.   So a key question is: ‘How do we create a Michigan population of entrepreneurs?’  This question just makes me smile, even thinking of it.

We, all, often speak about why we live in the Midwest and experience its unique culture, characterized by words like ‘nice’ or sometimes ‘complacent’.   Well, in my opinion,  it’s time to change a few things about the Michigan culture!  The Michigan population needs an awakening.

Jennifer Granholm and her husband, Dan Mulhern, are terrific at culture reform.  They brought us the ‘Cool Cities’ initiative.  Now they simply need to start ‘The Entrepreneurial Experience Engine’.   It starts at the top. This ENGINE should be filled with the fuel of unique entrepreneurial gas (programs) — pardon the pun.  Workshops, awards, celebrations devoted to that ENGINE should be as plentiful as cars on the road.

We need to see it, everywhere.  Take your new keys, and start your new life.

Why do we care about this?  MICHIGAN’S FUTURE.

We need to be focused on raising our kids to be ENTREPRENEURS.  Then those keys can be given to them. 

How do we do this?  We could/should start by teaching these skills in our colleges and universities.  My experience with this has been most interesting, as I have had the privilege to teach a class or two in an Entrepreneurial Program at Wayne State University.  The program, there, is excellent.   However if the ‘end product’ of a program, like that, is a student bound for just owning his/her own business, then the program is a bit short-sighted.

Professors, everywhere, are judged and evaluated by their students.  To teach true ENTREPRENEURIALISM, you would have to ‘beat the heck’ out of the students, so that they have developed the stomach for all the things through which they are about to go:  law suits, severe debt, the politics involved in closing deals, etc. It needs to be like a conditioning program for football.  Brutal.  And, frankly, this is completely the antithesis for current college and university programs.  Do our school systems really have the emotional, financial, creative outlook, and skill strength to implement quality ENTREPRENEURALISM PROGRAMS?

In my opinion, our educational institutions have too many constraints (through tenure alone), and many are simply ’stuck in their way’ and can’t move this initiative forward.  Couple this with the fact that many parents of these kids are from the ‘entitlement era’ (that era where people have been given things based upon where you are, vs. who you are, and what you can contribute).  This is not conducive to creating the personal accoutability and entrepreneurial behavior that should be passed to their kids!

Let me propose the nirvana to you.  Can we raise our children to have entrepreneurial skills?  The ENTREPRENEURIAL EXPERIENCE ENGINE could be shared as early as grade school, and followed up in high school, by specific, certified business owners.  It could/should be a pre-requisite for getting into a college or university.  Even if a student, now out of college, begins his/her career working for corporate America, or in an independent profession, the skills could teach kids to:

  • Think for themselves;
  • Think ‘out of the box’
  • Be a self-starter!

How valuable is that?

Again, why should we care?  Because this is all about MICHIGAN’S FUTURE!”

Do you agree with Jane?

What do you think of the proposal for far more extreme programs being implemented at all levels of the educational system?

Would your kids benefit?

And do think this is essential to Michigan’s future?  Let us know.  We welcome your comments and feedback!

 

About Jane Sydlowski

As Founder and President of AMI Strategies, a WBEN enterprise established over 17 years ago, Jane Sydlowski has assembled a dynamic and experienced team to design, build and manage her clients’ technology infrastructure, while finding ways to lower their cost of communications. Jane has created a vision for AMI that includes 100% client satisfaction, profitable growth, respect for the individual, and employee empowerment.

Under Jane’s leadership, AMI was recognized among the 2003 Deloitte Fast 500 public and private technology companies, 2002 and 2003 Inc 500 fastest growing private companies, and 2003 Crain’s Best Places to Work.

Jane has a Bachelors of Science in Applied Engineering from Michigan State University and an MBA from Wayne State University. She successfully completed the marketing program of Thomas Learning Center and is a Dale Carnegie graduate for both the Human Relations and Sales Courses. Among her honors, Jane has been awarded the MSU Applied Engineering Distinguished Alumni Award; the Association of Women In Computing Leadership Award; the Detroiter Magazine’s award as one of Michigan’s Top 100 leaders in 2004; and the Lawrence Technological University Leaders and Innovators award in 2007.

Jane speaks to graduate students regularly for the Wayne State University entrepreneurial program and she serves on three boards: The Michigan Council of Women in Technology, Greenpath, Inc. and the Board of Visitors for Wayne State University.

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Traction: Get A Grip On Your Business by Gino Wickman (Guest Blog #2 by Gerry Boylan)

By KNS | September 25, 2008

This is the second guest blog and book review by one of this year’s E2detroit 2008 Advisory Board Members  —  Gerry Boylan, Managing Partner, Long Point Capital.  With an amazing career spanning both start-ups and Fortune 500 company experience, as well as significant management background in the venture capital arena, Gerry has a very valuable viewpoint to share with the E2detroit community.  And like other visionaries, he tries (as much as possible) to gain perspectives from others!

 

This time, Gerry is sharing his analysis of the book Traction: Get A Grip On Your Business by entrepreneur and business leader Gino Wickman.

 

“Over my career in business, I have not read a lot of business books.  I simply haven’t had time.  I also don’t have a business degree, so a lot of my business learning has come the hard way:  by making mistakes.  While I have benefitted by reading the right business books (that are fast reads), I have also wasted time reading books that didn’t address the issues I was facing, and that were dry and long.

 

I particularly recommend reading Traction by Gino Wickman if you don’t have a formal business education, and you are looking for specific recommendations or suggestions on how to measure and control your business.

 

My educated guess is that this book is best for businesses that have made it past the first few hurdles have some traction (no pun intended) already.  It is well-suited to  businesses who are struggling, or can foresee struggles, as the business seems to get beyond the reach and experience of its management team.   That said, this is also a valuable read if you’re just getting started, and you want to see what you’ll need to sustain a business.

 

Here’s what I specifically like about Traction:

 

 

  • Traction offers a specific system to manage your business.  It lays the system out in a fast-moving, understandable manner, that is useful.  It takes a lot of business concepts that you might find scattered in other books or magazines and organizes them in a single functional book.

 

  • There is a chapter entitled ” The Data Component”, which focuses on measurement, and scorecards, and (well) the numbers!  If there is a single area, in my experience, that trips up the emerging, successful business, it is having a leader who doesn’t know the numbers cold. My only critique is that this chapter could have been even longer.

 

  • I really liked Wickman’s “10 Commandments of Solving Issues.” These are common sense, issue-solving rules.

 

  • This book is action-oriented.  There’s not a lot of theory that the reader has to wade through to get to a practical lesson.

 

  • I have a bias for optimistic, high energy, focused individuals, who like their families.  Author Gino Wickman fits all of those criteria!  He just seems like someone who would be fun to be around, and the book reflects that.

 

 

Since this is a review, I need to be somewhat balanced in my critique.  I found most of the charts way too busy, and the typeface way too small.  But, I’m 55 years old, and my eyes are shot for reading!  (Not to mention my short attention span when it comes to charts in the first place…)

 

Traction is a worthwhile read.  The book can be read on an airplane, and used as a reference for the future.  NICE JOB, Gino Wickman.”

 

 

 About Gerry Boylan

 

 In 1999, Gerry Boylan founded Long Point Capital, a private equity firm, with three partners. Mr. Boylan is a Managing Director of the Firm, which has offices in Royal Oak, Michigan and New York City. Long Point Capital Fund I and II have over $300 million of private equity capital under management. Fund I and II have invested in sixteen companies with aggregate sales of over $1.5 billion.

 

Gerry worked at Masco Corporation from 1982 through 1998, primarily in mergers and acquisitions, becoming V.P. of Business Development in 1990. While at Masco, he was involved in more than 35 each merger and acquisition transactions with a total value over $2 billion.
Gerry founded and managed On-Site child care, with his wife (Kathy Boylan) from 1986 through 1991.  The firm provided high quality child care to Botsford Hospital and Pontiac Osteopathic Hospital employees.
He also co-founded a chain of 11 furniture and accessory outlet stores for Masco, anchored by a 50,000 square foot store in Hickory, North Carolina.
Gerry’s civic involvement includes the Royal Oak City Council (1981-1983); and service on a number of civic boards including:  President of the Board of Trustess for Think Detroit PAL,  member of the Detroit Investment Fund
Investment Committee, Trust Board of South Oakland Boys and Girls Club, and the Royal Oak Housing Commission.
Gerry has also served on the boards of privately-held companies including Inrecon Inc. now Belfor (Birmingham, MI), Comfortex Corp (Cohoes, NY), Arch Aluminum and Glass (Tamarac, FL), Sunbury Textile Mills (Sunbury, PA), CHI Overhead Doors (Arthur, IL) , Arrow TruLine (Archbold, OH) and Torrent Resources (Phoenix, AZ).

 

 

Gerry Boylan will be an active participant in this year’s E2detroit 2008 event.  Don’t forget to register so you can meet him there, at www.e2detroit.com.

 And what are your thoughts about Wickman, and Traction?

Do you have other useful and/or inspirational “reads” to recommend to the E2detroit community?

Please share your comments.

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Endurance - Characteristic of the True Entrepreneur/Leader (A Guest Blog and Book Review from Gerry Boylan, Managing Partner, Long Point Capital)

By KNS | September 21, 2008

 

One of this year’s E2detroit 2008 Advisory Board Members is Gerry Boylan, Managing Partner, Long Point Capital.  With an amazing career spanning both start-ups and Fortune 500 company experience, as well as significant management background in the venture capital arena, Gerry has a very valuable viewpoint to share with the E2detroit community.

 

 When asked for some of his inspiring book recommendations for would-be small business leaders,  Gerry took the discussion even further, and was kind enough to share a review of one of his favorite books with us, below.

 

 Endurance: Shackleton’s Incredible Voyage by Alfred Lansing

Reviewed by Gerry Boylan, Managing Partner, Long Point Capital

 

 

“I first read this book when I was 12 years old (it was published in 1959) and then was re-introduced to it this year by a young associate in our private equity firm.  I considered it a great adventure story as a boy and a great business book as a middle-aged acquisition guy, who has visited between 175-200 middle market companies with a wide array of entrepreneur/owners.

  

While there are a few characteristics that they all had, endurance would be one of the most important of them. 

 

At first, I thought this book would be a new and unique introduction to our entrepreneurial audience. But doing a bit of Google research, I found that this book had become a bit of trendy business read several years ago and the subject of books on his leadership style including Shackleton’s Way: Leadership Lessons from the Great Antarctic Explorer (2002).

 

 So, while we won’t be trendsetting, the book is worthy of the time invested reading it.  The story is of Sir Ernest Shackleton and his 1914 expedition to be first to cross the last uncharted continent on dogsled.  In brutal summary, the 27 member crew set out in a boat that  crushed in a moving ice pack. The entire party landed up, trading their time between jumping from ice flow to ice flow, or freezing and floating in three lifeboats, for nearly two years.  They lived first on meager provisions and then survived on seal meat. The conditions were unbearable during the best of times.

 

 The book’s lessons on leadership and survival are powerful. I see many of the same qualities of Shackleton and his group shared by successful companies — of course, not quite to the same degree of severity.  Well, now that I think about it, there have been a couple of company cultures that were very similar to being in bone-numbing cold for two years!

 

 Some key passages include:

 

 ‘It was inescapable.  He was the Boss. There was always a barrier, an aloofness, which kept him apart.  It was not a calculated thing:  He was simply emotionally incapable of forgetting—-even for an instant—his position and the responsibility it entailed.  The others might rest, or find escape by the device of living for the moment.  But for Shackleton there was little rest on no escape.  The responsibility was entirely his, and no man could be in his presence without feeling this.’

 

 ‘Shackleton and his crew subsisted on seal blubber, penguins, and dog meat, moving from ice floe to ever-shrinking ice floe.  Ultimately they set out in open 22-foot boats across some of the most frigid, treacherous waters on earth. ’

 

 ’ Crew members’ diaries provide a fascinating, detail-laden account of the expedition.  To get his men through it, Shackleton was ‘intensely watchful for potential troublemakers who might nibble away the unity of the group.’  He complimented those who needed flattery and even went so far as to assign potential malcontents, as well as the most irritating and self-centered individuals, to his own tent so their negativity would not rub off on others.’

 

‘Through it all, Shackleton insisted that everyone be treated the same, and he endured the same privations as his men.  He went out of his way to participate in menial chores, including spending hours teaching them to play bridge.  Shackleton considered reticence and delay as threats to survival and continually pushed his crew to persevere.  He braved the feared Drake Passage—the roughest patch of sea in the world—and in the end, every member of the crew survived.’ (Adam Plore, portfolio.com)

 

 In summary, I found the book to be a stunning account of leadership and perseverance under the harshest of conditions. I am going to be sending copies to a few of our company presidents, especially those whose companies sell into the housing/building product markets, enduring very difficult market conditions that they have had to adapt to, making the difficult decisions that bad markets require.  

 

 About Gerry Boylan

 In 1999, Gerry Boylan founded Long Point Capital, a private equity firm, with three partners. Mr. Boylan is a Managing Director of the Firm, which has offices in Royal Oak, Michigan and New York City. Long Point Capital Fund I and II have over $300 million of private equity capital under management. Fund I and II have invested in sixteen companies with aggregate sales of over $1.5 billion.

 

Gerry worked at Masco Corporation from 1982 through 1998, primarily in mergers and acquisitions, becoming V.P. of Business Development in 1990. While at Masco, he was involved in more than 35 each merger and acquisition transactions with a total value over $2 billion.
Gerry founded and managed On-Site child care, with his wife (Kathy Boylan) from 1986 through 1991.  The firm provided high quality child care to Botsford Hospital and Pontiac Osteopathic Hospital employees.
He also co-founded a chain of 11 furniture and accessory outlet stores for Masco, anchored by a 50,000 square foot store in Hickory, North Carolina.
Gerry’s civic involvement includes the Royal Oak City Council (1981-1983); and service on a number of civic boards including:  President of the Board of Trustess for Think Detroit PAL,  member of the Detroit Investment Fund
Investment Committee, Trust Board of South Oakland Boys and Girls Club, and the Royal Oak Housing Commission.
Gerry has also served on the boards of privately-held companies including Inrecon Inc. now Belfor (Birmingham, MI), Comfortex Corp (Cohoes, NY), Arch Aluminum and Glass (Tamarac, FL), Sunbury Textile Mills (Sunbury, PA), CHI Overhead Doors (Arthur, IL) , Arrow TruLine (Archbold, OH) and Torrent Resources (Phoenix, AZ).

Gerry Boylan will be an active participant in this year’s E2detroit 2008 event.  Don’t forget to register so you can meet him there, at www.e2detroit.com.

 

 And what are your thoughts about Shackelford, and his leadership qualities?

 

What would you rate higher than endurance in the make-up of the true entrepreneurial leader?  Anything?

 

Please share your thoughts with the E2detroit community.

 

 

 

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Don’t Be Fooled; Michigan Is A Great Place To Start A Company! (Guest Blog #3 from Ray Waters, President of Shorebank Enterprise Detroit)

By KNS | September 20, 2008

In his Guest Blogs#1 and #2, Ray Waters, Advisory Board Member for E2detroit 2008 and President of Shorebank Enterprise Detroit shared a wealth of wisdom and advice for the hopeful entrepreneur, and beginning business leader.  He discussed why companies fail, and often wildly succeed;  and what the characteristics of those companies, generally, are. 

In this final Guest Blog #3, Ray shares his thoughts about Southeast Michigan, and its suitability as a location for the budding entrepreneur and small business leader.

“There are some who will tell you that Detroit or Michigan, in general, are not good places to start a business.  They will say that there are other places, which are more conducive to success.  I would politely disagree.  There are MANY reasons why this is a good place to begin a business.

From a funding standpoint, the venture capital industry in Michigan is active and growing.  With organizations like TechTown, Automation Alley, and the state support of Smart Zones, we have laid the groundwork for innovation and support of new ideas.  Wayne State’s Technology Transfer Department is a great example of how our Universities are successfully working to take research and ideas, and assist in the commercialization of various products.  Detroit Renaissance and the New Economy Fund are working diligently on ideas to create more new companies, and new jobs.  Overall, I believe there is now a very clear understanding of the importance of new business growth, and related job creation in the state.  As we move further down this road,  I foresee increasing support for bright entrepreneurs with good ideas and solid plans.

The state of the Michigan economy should not deter a would-be entrepreneur!  Layoffs and buyouts in this economy can create new opportunities for people.  The chance to own and run your own business is an opportunity that doesn’t come around, often.  The thrill of watching your hard work and ideas turn into a viable business is worth every effort you make.  While there is always risk, you have the chance to build something that you can be proud of, and which can create jobs for others.  If you are successful, you can chart your own course instead of relying on others to chart it for you.

The encouragement of innovation is key to a successful turnaround in Michigan.  TechTown, in Detroit, is a stellar example of the best way to encourage innovation.  Take several bright entrepreneurs with ideas and products; put them together in an incubator; and provide mentoring expertise, and business services.   As a new company, just being in the same facility with other new tech companies allows a start-up business to gain significant insight from other like-minded entrepreneurs.  Our Governor has said that job creation in the state of Michigan will come from companies in the new economy.  State support of these new companies is vital.  TechTown and Smart Zones, and other similar initiatives, can increase the success ratio of these companies.

I learned early in my business career, that (in order to be successful) I needed to pay attention to, and learn, from others, who have traveled the same road and achieved success.  The E2detroit 2008 symposium provides entrepreneurs and small business owners with a unique opportunity to listen to, and interact with, successful business people, who have faced similar situations and are willing to share their experiences.  Additionally,  if you come, you will be able to meet and talk with other entrepreneurs and small business owners.  This can only foster innovation!

There are a number of other Michigan resources I would highly recommend.  The Michigan Small Business and Technology Development Centers are a good place to get assistance with a business plan and financial projections. The Detroit Entrepreneur Institute has assisted over 800 businesses in the last 8 years.  Organizations like CEED and the Detroit MicroEnterprise Fund are sources for micro loans for startup capital for Detroit businesses.

On a final note,  even in this tough economy, there are new businesses being funded, new companies growing, and businesses that have figured out a way to get to the next level.  Perhaps it is the entrepreneur in me, but I believe there are still many opportunities for the entrepreneur who is willing to put it all on the line, work hard, and surround himself/herself with good people.

I’ll be at E2detroit 2008 on October 8th.   Hope to see you there.”

About Ray Waters

Ray Waters began at ShoreBank Enterprise Detroit as the Managing Director of the Detroit Communit Loan Fund in October, 2001. On June 1st, 2004, he also assumed the title of President, SED.   Both SED and the DCLF provide growth capital to minority-owned businesses in Detroit.  SED provides financing packages for Detroit developers/rehabilitation companies, working on affordable housing and commecial projects in Detroit neighborhoods. SED also provides lines of credit for smaller contractors in the city, allowing them to undertake new construction jobs.

Previously, Ray was a Managing Partner of BBC Ventures. In addition to consulting, BBC sought to acquire early stage life science companies, to be managed from its Ann Arbor, Michigan offices.  From 1990 through 1999, Ray served as President of Horizon BIDCO Investment Company, a mezzanine venture fund providing growth capital for companies in Southeastern Michigan.

Ray’s business career includes over 20 years experience as CEO and owner of three profitable growth companies, two of which were start-up ventures.  His hands-on operating experience includes structuring the sales of two of these companies.  Ray also served for many years on the National Advertising and Franchise Committee of the Hertz Corporation, and the National Distributor Board of the Adolph Coors Company.

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Why Some Fail; Why Some Succeed! (Guest Blog #2 from Ray Waters, President of Shorebank Enterprise Detroit)

By KNS | September 19, 2008

In his Guest Blog #1, Ray Waters, Advisory Board Member for E2detroit 2008, and President of Shorebank Enterprise Detroit shared some personal thoughts and good advice for entrepreneurs.  In this blog, Ray eloquently discusses why some start-ups go on to be wildly successful; and some do not.  And he shares characteristics of (and lessons learned from)  both failures and successes:

“In my mind, clearly education and experience are important for entrepreneurs.  But even more important is passion, tenacity and flexibility —- they are critical to the success of your business.  Passion for the business is an absolute necessity.  Tenacity means the ability to get back up;  the ability to handle being knocked down, successfully;  the ability to handle the stress of the adversities that will certainly occur!   Flexibility is paramount.  People who are highly rigid have a tough time as entrepreneurs.  You need the flexibility to change strategy when necessary.

 Additionally, successful entrepreneurs understand their strengths and weaknesses.  One has to have an ego, but also be smart enough to bring people into your business who are strong in areas where you are weak.

 An entrepreneur must understand that no company moves directly from A through Z. Most companies take a winding road to success.  Usually, there are unexpected hurdles, curves in the road that must be negotiated.  It is more likely than not that you will come to a point where you have to take two steps back, and one step sideways, before you move forward again.  Not understanding that basic fact, and not successfully dealing with these setbacks, are pitfalls for many companies.

 Here are the top 6 reasons that I have found for start-up company failures:

  • As mentioned in Blog #1, most companies do not have enough capital to start. (It is still true that it usually takes twice as long and twice as much money, as you originally forecast!)
  • Not having a business/marketing plan with believable financial forecasts is another key reason for failure.
  • Not having a good accounting system when the company starts is a reason.
  • Not paying constant attention to cash flow is a reason.
  • Not understanding the value of customers or the needs of your customers can be a major reason for failure.
  • And finally, not bringing talented people to the company to complement the founder’s skills is a real mistake.

 Conversely, over the last 16 years, I have managed organizations that have invested in, or provided financing to, many companies in Southeast Michigan.    As with all funds, we invested in a few companies that didn’t make it.  However we worked with MANY companies that did very well!

Even though those companies had different products, different markets, the businesses that really made it had a few things in common:

  • A strong management team, totally dedicated to the success of the company;
  • A leader who was willing to listen to new ideas, suggestions and criticisms;
  • A leader who recognized the importance of hiring people with the skills to take the company big, and then who let them do their jobs;
  • A management team with a good plan, great execution skills, but who were willing to change direction quickly when the market, or customers, demanded it;
  • A management team who listened closely to their customers;
  • A management team who understood the importance of treating employees well, and who figured out ways to have a little fun along the way!

 Do you agree with Ray?

How much does your company, your business, your start-up, your dream match his characteristics of companies who can and will make it?

We’d like to hear from you.

And in his final Guest Blog #3,  Ray will share some valuable regional information, tips and advice to help you along your entrepreneurial path!  Come back, soon.

 About Ray Waters

Ray Waters began at ShoreBank Enterprise Detroit as the Managing Director of the Detroit Communit Loan Fund in October, 2001. On June 1st, 2004, he also assumed the title of President, SED.   Both SED and the DCLF provide growth capital to minority-owned businesses in Detroit.  SED provides financing packages for Detroit developers/rehabilitation companies, working on affordable housing and commecial projects in Detroit neighborhoods. SED also provides lines of credit for smaller contractors in the city, allowing them to undertake new construction jobs.

Previously, Ray was a Managing Partner of BBC Ventures. In addition to consulting, BBC sought to acquire early stage life science companies, to be managed from its Ann Arbor, Michigan offices.  From 1990 through 1999, Ray served as President of Horizon BIDCO Investment Company, a mezzanine venture fund providing growth capital for companies in Southeastern Michigan.

Ray’s business career includes over 20 years experience as CEO and owner of three profitable growth companies, two of which were start-up ventures.  His hands-on operating experience includes structuring the sales of two of these companies.  Ray also served for many years on the National Advertising and Franchise Committee of the Hertz Corporation, and the National Distributor Boa