I had an opportunity last week to join a team of "Chicago-ites" on a 2-day Trip/Tour/Excursion to General Motors Headquarters in Detroit, Michigan.  As part of a "get to know more about General Motors" campaign ~ GM brings together 10-15 Influential Business/Arts/Community Executives from different US cities and does a kind of show and tell about the company. In a group setting (and with a team of GM Leadership) they discussed the market, advanced technology, energy, and current environmenal policies ~ the conversations were than open for questions and suggestions from the group!
 
We had an opportunity to visit GM's Design Studios and learn how designers and engineers work together to put the best of design, functionality, style and practicality in their new and future cars.  The Chevy Malibu for example has been totally redesigned in recent years! We also saw GM's new electric car, the "VOLT".  The VOLT should be available to buy in the next several years...hold on to your seats the break through in energy efficient transportation is astounding and closer than I thought! It seems GM is on fire and in the for front in this area! The "VOLT" is a car you're going to want to have! 
 
I will have to admint I had some pre-conceived ideas about GM (specifically with the recent cut backs and the vehicle reliabilty issues from the past) before I left on the trip. During the time I was there, however, hearing their vision and passion for the future, their employees and their customers I have come away with a whole new appreciation for this company. 
 
During the second day of our trip we were given an opportunity to drive several of their automobiles - I chose the Enclave, Cadillac STS and the Tahoe Hybrid...All amazing!  I didn't even know that large SUVS came in Hybrid models (?).  Since I'm in the market for a new SUV is seems the Tahoe may be the one for me!
 
Thank you General Motors for a fascinating journey.  Can't wait to see the VOLT in on the street~! Georgia Dudley

Hello All - Just a quick note on "Selling in a Down Economy".  I have a set of amazing Sales Coaching Clients who are "nervous" about the economy.  They are getting push back from their clients on purchasing goods and services.  The reason:  "Reduction in Spending" or perhaps they are hearing, "Work force Reduction", etc.  The news certainly confirms these findings!
 
TIP 1 - Let's remember why companies purchase goods and services in the FIRST place....to either SAVE THEM or MAKE THEM ($) money.  Most products and services - when cost justified using a ligitmate ROI ~ can show these companies how to save money and/or make money in any type of economy.  If for example work force reduction is the issue (remember things still have to get done).  Can your product and/or service support the "gap" in productivity or the length of time to market companies will may face with a workforce reduction?
 
TIP 2 - Don't let other "down and out" sales folks compromise your own motivation or sales efforts.  You may have to work harder, make more contacts, reduce your margins a little - however business is being done while you are worrying about getting it done!
 
TIP 3 - Get out and NETWORK ~ find new venues, go more often, contact customers and friends for referrals. 
 
TIP 4 - Go back to the basics!  Make sure you brush up on your SPIN selling techniques and have a defined Sales Process.  Keep records of your progress and make MORE CALLS!
 
TIP 5 - HANG in there - this too will pass!
 
See you next week!  Georgia Dudley, Founder Empowering Women Network, Inc.

Thank you ALL for taking time to respond to Empowering Women Network's 2008 Member Survey. 
The anniversary event was amazing and I appreciate all the kind words. (Audio for the event - click on EWN Radio). We have an exciting year ahead and will be using this valuable member information to plan for 2009, future events and new programs for the organization.  Georgia Dudley, EWN Founder
If you have any suggestions, comments please post on our BLOG!
Your Survey Results:
How often do you attend EWN Events?Number 1 Answer:  1+ per month
Using a scale of 1-5 (5 being the highest) please rate the following inimportance to youNumber 1 Answer - EWN Monthly MeetingsNumber 2 Answer - TIE - EWN Roundtables & Progressive Luncheons
What TOPIC/S are of most importance to you?Number 1 Answer - Business Development/Sales/Building RelationshipsNumber 2 Answer - Leadership TopicsNumber 3 Answer - Self Promotion - Marketing "Self"Number 4 Answer - Work Life Issues
What time of day works best for you to attend EWN Events?Number 1 Answer - Early Evening
What meeting format do you prefer?Number 1 Answer - Networking with Key Note SpeakerNumber 2 Answer - Progressive Luncheons
What is the Number 1 Value you have received from EWN?Number 1 Answer - Networking & Meeting "Like Minded" Professional WomenNumber 2 Answer - Business OpportunitiesNumber 3 Answer - Learning/Professional Development
What is your overall satisfaction with your EWN Membership?Number 1 Answer - Very SatisfiedNumber 2 Answer - Extremely Satisfied
Have you Shared EWN with someone you Know?Number 1 Answer - YES

Credit cards, college debt, a sense of entitlement… These issues are considered to be large contributors in why Generation Y has become our least financially fit generation to date. An interview in the Journal of Financial Planning with Elisabeth Donati, Founder and Executive of Creative Wealth International, offered the following insights about younger generations and their growing money troubles. Young adults under 25 are now the fastest growing age group filing bankruptcies. Less than 10% of high school graduates are taking any courses on personal finance. College suicides are thought to be on the rise in large part due to financial struggles. As parents or role models of younger generations, it is our responsibility to lead by example in our own financial lives. It is also important that we take steps to educate and communicate with our children to set them up for their own successful financial futures. This initiative yields several questions.

 
When? When do we begin talking to our kids about money? Experiences have shown that in general, the earlier the better. An individual’s emotions and subconscious outlook on wealth are formed within the first twelve years of a person’s life. Feelings of scarcity or abundance and thriftiness or generosity are generally established at a young age and will continue to exist in the underlying foundation of a person’s attitude towards money regardless of future life changing events.
 
What? What information do we share with our children? This question is not as difficult when dealing with younger kids, but becomes more complicated as they grow older. With younger children, it may be sufficient to teach them the value of a dollar, emphasize the importance of saving, and maybe share the significance of monetary gifting. These values should continue to be reinforced as children grow older, but with young adults the question arises as to how much should be shared about the family’s financial situation. Many people these days are more comfortable talking with their children about the birds and the bees than they are discussing personal financial issues. While each family’s answer to the question of what information should be shared will be different, the important point is to make sure that you do not avoid addressing real-world, adult financial topics. College planning may be a stimulus for discussion. Negotiating for a child’s first real job or first home purchase could spark conversation. Regardless, it is imperative that you share your experiences and at least lay the groundwork for serious discussions about your family’s wealth management plan.
 
How? How do you effectively instill in your children appropriate values and education about money? My best advice: be proactive and be creative. Do not wait for your children to make mistakes before addressing financial concerns. If you do not feel qualified to discuss an issue, work with your financial advisor to plan the best approach or message. Creatively teach the concept of budgeting to your children at an early age. If they have $3 of spending money left at the water park they can either have a hot dog or another ride on the slide – but they cannot afford both. You can help your newly driving children build good credit by having them open a credit card solely for gas purchases (and then of course ensuring that they are paying it off in full each month). For older children who move back home, you could charge “rent” to help them adjust to paying monthly expenses, put that money into an appreciating savings account and then allow them to use that money towards their first month’s payment when they are ready to move out on their own.
 
Ultimately there are no definitive right or wrong answers when it comes to teaching our younger generations about money. Without a doubt, our biggest mistake would be to disregard Generation Y’s growing financial problems. When just setting a good example is not enough, it is important that we take the time and energy to educate and communicate with the kids in our life to help foster healthier financial futures for everyone.

Over the next several weeks I will be focusing my blog entries on the topic of SALES.  Over the last 6 years I have had the opportunity to meet thousands of women that own their own businesses, are executives in large companies and/or are working up the corporate ladder. 
 
One of the number one topics we are always asked to talk on is 1) Sales.....it seems whether you are a CEO, CFO or Director of IT - simply said  ~ We are all in Sales. Businesses are in business to be profitable each person in the company contributes to the companies success and/or failure.  Every time we "leave the building" we are representing the company we work for. 
 
Volumes have been written on what makes a Great Sales Person. From experience and working with hundreds of sales executives (Running Sales Organizations, Founding Empowering Women Network and "Coaching" on the topic of Sales) the truth is that sales executives that have the following traits are most successful: 
Great Sales People:

1. Take a Leadership role in the Sales Process,
2. Follow a Repeatable Sales Process
3. Have a strong network and/or advisory board
4. Believe in themselves and never give UP
5. Have a "Sales Coach/Mentor" in the Sales Profession (NOTE: do not hire a sales coach who has 1) Never Carried a Bag and doesn't know what that means, 2) Doesn't know who wrote "Strategic Selling" and 3) Thinks SPIN selling has something to do with Bill O'Reilly.
6. Have a positive attitude and embrace CHANGE
7. Is continually learning about EVERYTHING
8. Understands how and why business works (including the phrase: It's not personal it's Business)
9. Knows about their clients and their clients NEEDS and finds the whole thing a fascinating topic of conversation.
10. Is motivated to WIN

Looking for a Sales Coach whose carried a bag?  I look forward to hearing from you:  ggdudley@aol.com
Next week ~ Five Things That will Change You from Where You Are to What You Can Be!
Georgia Dudley, Founder, Empowering Women Network, Inc.

For many professional women, some of life’s most frustrating moments or situations involve things that are out of our control. We’re often used to being the successful COO of our households and the chief strategist of our task lists at work. So when a traffic jam makes you late for a meeting or the airlines lose your luggage, the situational powerlessness can be infuriating.
 
Nowhere is this sort of frustrating lack of control more evident than in the midst of a struggling stock market. Watching your wisely invested earnings diminish in your accounts can be aggravating and scary. And when even the most successful investment strategies are in the red, the situation may leave you feeling defenseless. Here is a quick guide to making the most of a less-than-ideal investment environment.
 
1.      Focus on the Long-Term
This first essential to-do isn’t necessarily an action item, but more of what not to do: Don’t Panic. Don’t let the negative media or short-term negative returns sway your investment philosophies. When investors see their account values dropping, they often begin to question their equity exposure and consider selling out of stock. But obviously selling low and buying high has never yielded favorable returns. Assuming you and your advisors have implemented a strategic stock / bond allocation customized for you, stay put in a bear market and try to minimize emotional investing (or disinvesting!). If you do not have a financial advisor, now may be the time to consider seeking professional advice. An advisor should not only help you implement appropriate investment strategies and plan your financial future, they should also give you peace of mind that is invaluable - particularly in difficult market environments.
 
2.      Continue Saving
I have a colleague that compares saving in a down market to buying shoes when they’re on sale. I have to admit that I’ve given him grief for trying too hard to relate to a woman’s love of shoes, but the concept is right on - when the markets are down, everything is on sale. Sell high, buy low is in fact the classic recipe for investment success, so focus on saving as much as you can afford. This will require that you also take care of #3…
 
3.      Control Spending 
Another obvious but invaluable piece of advice: save more, spend less. Different people create spending plans in different ways. Some find that creating a strict budget to help plan and track expenses is most effective. Others prefer calculating what needs to be saved, setting that amount aside and then having more freedom in spending the surplus funds. A spending plan, in general, will help guide your lifestyle in order to optimize savings and ensure that you don’t have to dip into your nest egg too much or too early.
 
4.      Reduce Taxes by Looking for Losses
A silver lining of negative growth can often exist since losses in non-retirement accounts can be “harvested” and used later to negate taxable gains. Harvesting losses is the sale of a fund or stock at a loss and then using those proceeds to buy a similar replacement security. Thus the portfolio should essentially keep the same basic structure and comparable performance while you realize losses that can decrease your future tax liability. After 31 days (avoiding the IRS’ wash sale rule), the investor can then sell the replacement security and return to the original fund or stock.
 
5.      Empower Yourself in Other Areas of Life
This final action item will be different for each of us. What concrete thing can you do in your life to set yourself up for success or to give yourself peace of mind? You can’t control market returns, so focus on those things that you can control. You can control your estate planning to ensure a smooth and tax efficient transfer of wealth if something should happen to you. You can control your debt management and ensure that your debt financing is maximally tax deductible at a competitive rate. Or even think in broader terms: you can control what you do over your lunch hour - go for a walk, eat healthier, and feel better.
 
All this being said, keep in mind that market conditions are looking less bearish by the day. The S&P 500 Index has rebounded from a dismal low of -12.90% YTD on 3/10/08, to a less depressing -4.67% YTD as of close of day, 4/29/08. Nevertheless, a long-term perspective coupled with cognizant spending and disciplined saving are valuable assets in any market conditions. Take charge of the things that you can control in a struggling economy and you will be ahead of the game when the bull market returns!
 

Last week while I was facilitating one of EWN's amazing Corporate Roundtables we hit on a topic that the entire group had thoughts and advice about.  The topic was the differences between Assertiveness vs. the extreme we call aggression and the retreat we call submissiveness.  In business women are sometimes thought of as either too agressive or too submissive.  Here's a definition of Assertiveness I recently read:
 - The way we behave depends on how we learned to cope with life as we grew up and most of us will admit that our reactions are not always appropriate or effective.  Agression (attack), popularly perceived in our culture as an asset, can produce short term success but at the expense of generating conflict, ill-feeling and damaged relationships.  Submissiveness (retreat) may protect us from immediate pain, but at the expense of diminishing self-confidence, giving the impression that we are week individuals of whom others can take advantage.  People who are confident, in control and able to relate to others openly and honestly in a spirit of co-operation, enhance their personal effectiveness through assertive behaviour.
Assertiveness Techniques the group came up with:

• Saying what you mean - making your message clear
• Giving and receiving priase without embarrassment
• Saying "No" to unreasonable requests
• Understanding criticism and how it effects ourselves and others
• Giving and receiving criticism effectively
• Asking for what you want

How do you know when to hire an employee to help with your business? That was the topic at a recent Oakbrook Roundtable. As an employment issues speaker and attorney, this question comes up with my clients a lot, as the business grows or because of turnover. Think about these things:
1. When you are truly ready to delegate, meaning be less concerned about HOW a task gets done (exactly how you would have done it) than the fact that it gets done, so you don't micromanage the process.
2. When you know what tasks you are going to delegate and the skills required for them, so you can design your hiring process upfront, saving time, money, stress, confusion and productivity problems later.
3. When you need an actual person to do something that can not be handled with tech tools.
4. When you can shed a task or tasks that you don't  like, are bored with, or are not good at, so you can spend your time doing something more satisfying and/or that builds your revenue.
5. When the things you want someone else to do are open ended and ongoing, and therefore should not be outsourced to another business or independent contractor. And the difference between and pros and cons of employee vs. independent contractor is a whole 'nother topic!

I had the good fortune to be a Speaker for the Wheaton, Illinois Chamber of Commerce - Business Women's Organization last Friday.  The Topic: "Negotiating Your Way to the Top".
 
As I thought through the topic/title it occurred to me that before I learned to negotiate through life and business dealings I had formed a sense of self confidence. I took some time to think through the words SELF CONFIDENCE and came up with 6 words all beginning with the letter "C" to explore the elements of the word. 

• Courage
• Communication
• Contribution
• Competence
• Concept of Self
• Control (Setting Boundaries).

As women we are typically good at the 3rd and 4th C (Contribution, Competence)....We have an amazing desire to contribute and we tend to be preparers! Perfering to be over prepared vs. under prepared for almost any occasion. Courage takes "faith" in our abiltiy to do something and the desire to take a risk.  Communication is the ability to deliver a clear message so we can convey our ideas, needs and wants. Concept of Self is our belief in who we are and the ability to effectively self promote ourselves to others.  Control means we can clearly set boundaries and as easily as we say YES we can say NO.
 
Negotiating itself as defined by "Negotiating Skills" (Essential Managers Guide). "Negotiating involves parties, who each have something that the other wants, reaching an agreement to exchange through a process of bargaining."
 
The TOP is the "thing" we are negotiating and differs for all of us. The TOP could be a business contract, career advancement, higher pay, etc.
 
So you see that with the four "C's" mastered we will have the SELF CONFIDENCE needed to start Negotiating Our Way to the TOP! Georgia Dudley, EWN Founder and CEO