Author Archives: freelancetheconsultantsdiary

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What Do You Know? Knowledge Mapping and Management

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Have you taken stock lately of what you know and the potential value that your knowledge can bring to clients? Those of us who work in the Knowledge Economy are advised to periodically examine, catalogue, package and communicate to prospects, clients and referral sources the types of knowledge that we provide and the value of that knowledge, that is, the benefits that would be received by clients who pay to receive the knowledge.

Martin Ihrig, Associate Professor and Director of the Strategic and Entrepreneurial Management of Knowledge Initiative at the University of Pennsylvania’s Wharton School of Business and Ian MacMillan, Professor of Innovation and Entrepreneurship at the Wharton School, encourage Knowledge Workers to take an accounting of the full spectrum of their strategic knowledge assets: core competencies, talents, intellectual property, areas of expertise and deep experience. In order to effectively present ourselves to prospective clients, we must first understand and communicate what we offer to them and why it matters.

Step 1 is to list your strategic knowledge assets and group them according to categories. For example, if selling is the basis of your consulting practice, then your categories of core competencies, expertise and experience would likely include sales skills training, management of sales teams, sales distribution expertise, developing and nurturing client relationships, the success of new product launches, both individually and of sales teams that you’ve led, etc.

Think also in terms of your structured and unstructured knowledge. Structured knowledge that you possess would include your educational degrees and certificates; specific job experience; quantified intellectual property; technical proficiencies (maybe you speak another language, or are fluent in a certain relevant computer software); or specific methodologies used to provide services. Unstructured knowledge usually centers around your experience and expertise. Unstructured knowledge would, for example, include the deep experience you possess that allows you to accurately and relatively quickly grasp the big-picture as well as the nuances of challenges and opportunities that clients typically hire you to address.

Step 2 encompasses the primary goal that Ihrig and MacMillan assign to cataloguing and categorizing your knowledge asset categories, which is to enable you to visualize and consider them fully and position your consultancy for maximum profitability and sustainable growth. How can you advantageously leverage what you know? Are your categories primarily stand-alones, or might you combine them in ways that make you better able to meet the emerging needs of current and prospective clients? In Step 3, examine the business model for each of your high-level categories and the organizational systems and practices that you currently follow to efficiently enable their delivery.

If you love geometry, in Step 4 you can map your structured assets along the x-axis and unstructured along the y-axis (or the reverse, if you like). Simple list-making works, too. As stated above, you may discover ways to combine competencies, structured or unstructured, that will add to the services that you provide, or you may reconsider a seldom used structured or unstructured competency and realize that it may now be marketable.

Once you’ve listed your mission-critical knowledge assets, the challenge is to decide how best to package, message and promote them. If you carefully map and manage your knowledge portfolio, you may discover lucrative competitive advantages that otherwise may not reveal themselves to you.

Thanks for reading,

Kim

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How Much Free IP?

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Absorbing your Intellectual Property, distributed free of charge by you through content marketing, is one way that potential new clients make their hiring decision. They are not sure if you are worth the investment represented by your fee for service, so a factor in the hiring decision is the perceived value of your free content. Does the prospect find it helpful and credible?

Your blog, newsletter, white paper, podcast or webinar demonstrate your authority and may help to convince a client who needs reassurance about your expertise.  A prospect who discovers your online content in theory could reach out and propose getting together for coffee, or scheduling a quick call to get some questions answered.  Or maybe you offer a free 30 or 60 minute consultation call as part of your services?  Either way,  remember that you are in business to get paid and giving away free advice does not necessarily lead to a contract.

Preserve the value of your IP

When you too often give away your expertise, the incentive to pay for it decreases. Scarcity and unique value must define your services.  You deliver the desired results and for that you are paid a premium price.

Establish boundaries because time is money

Your time and expertise are your most valuable resources and it is essential that you monitor their expenditure carefully. If you agree to speak with a potential client at no charge, do not allow the conversation to turn into a fishing expedition.  Answer two or three important questions and then let it be known that if more information is needed, an hourly rate will be instituted.

Gaining experience

If you are early in your Freelance consulting career, you must build a client list. If you have a new service that you’d like to test market, you will need exposure.  Selectively offer your services gratis, for a limited time.

Pricing

There are times when adding a free service upgrade is a way to maintain your pricing structure in the face of pressure to lower your fee.  The cosmetics industry does the very well when a free gift with purchase is offered to customers.

Thanks for reading,

Kim

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A Capital Campaign for Your Enterprise

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Businesses are powered by capital and the “capital” includes all resources that contribute to the success of the business.  The emerging field of corporate sustainability, which translates the goal of long-term business growth that is simultaneously respectful of stakeholders inside and outside of the business venture into pragmatic action items and encourages business owners and leaders to recognize and quantify forms of capital, in addition to financial capital, on its own terms.

Mark W. McElroy, PhD, consultant, author and educator in the field of corporate sustainability and founder of the not-for-profit Center for Sustainable Organizations in Vermont and Martin Thomas, former head of global strategic planning at Unilever, recently developed the MultiCapital Scorecard, the first and only context- and capital-based integrated measurement, management and reporting system. Using the Scorecard, business leaders and owners of any size organization can assess company performance in terms of impact on all types of capital used.  Which resources is your organization maxing out, which are under-utilized and how do these practices impact prospects for sustainable growth?

1.  Economic capital

All financial resources, including access to investment capital,  credit and loans and also the value of the brand the business possesses.

2.  Human capital

The combined expertise, experience, knowledge, motivation, focus and discipline that you and your employees and consulting specialists possess and your shared intellectual capital.

3.  Relationship capital

The extended team you work with, including any networks, strategic partners, your informal business advisory board, referral sources and in addition, your reputation as a professional.

4.  Constructed capital

The infrastructure that we depend upon, including transportation, electricity, heating and air conditioning, the internet, effective and appropriate laws and regulations, public safety and available places where business commerce might take place.

McElroy and Thomas advocate for the MultiCapital Scorecard to be used to create a sustainable vision, mission, goals, management and business practices for organizations. They recommend that the organization first identify its internal and external stakeholders and the duties and obligations owed to them. Next, define the ideal standards of performance and apply context-based metrics to measure your organization against those standards.

Small businesses and self-employed Freelancers can make use of the Scorecard to account for the various types of capital that is available,  measure the use of each form of capital and better understand how to manage and nurture resources.  Goal-setting will become more obvious as priorities surface and opportunities and weaknesses emerge. The stage will then be set making plans that usher in sustainable growth and profits.

Thanks for reading,

Kim

Professional Development , Leave a comment

Listen and Learn, Hear and Understand

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If we would become better listeners, then the world would become a better place. Effective listening is a cornerstone of relationship – building  and relationships are the foundation of diplomacy.  The ability to listen effectively is a valuable leadership skill.

Listening is complex and contrary to popular perception it is active, not passive . Our ears and eyes, biases and fears, past experiences and hopes for the future all impact our interpretations of what is said to us.  We really do hear what we want to hear.

Active listening is a demonstration of empathy and respect . When we grant an opportunity to hear one who would like to share information, we validate  that person and the  story. Active, effective listening requires that we are fully present. Simultaneous engagement in multi-tasking activities is detrimental to the process.

In the September 1, 1957 issue of the Harvard Business Review, Ralph Nichols and Leonard Stevens interviewed more than 1000 college students and several hundred business executives and found that our listening skills are not stellar. We are largely unable to retain more than 50 % of what has been told to us, immediately after the telling.  Eight hours later, we will retain about 1/3 of what has been told to us.  Six months later and we retain merely 25 % of the story or information.

Nichols and Leonard revealed a main obstacle to listening—we think much faster than we speak. As we listen, or if we listen,  to information that is being delivered comparatively slowly, our busy brains are either coloring the story with our personal biases or agendas, or we’re thinking about something  else entirely.

They suggest that in order to bolster our listening skills, we might give our brains something to do that supports the activity:

1.  Take notes to improve recall of important points.

2.  Incorporate other senses, such as sight, and make note of body language and facial expressions. As well, note tone of voice and emotional state.

3.  Process the information as it is delivered and  try to make sense of it. Formulate questions and think about what was not said.

4.  Respond by first confirming that you correctly understand what has been said and then move on to other clarifying questions.

Thanks for reading,

Kim

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Prospects and Tire-Kickers

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Tire-kickers, those self-absorbed time-wasters who parachute into your life, present themselves as interested buyers, pepper you or your sales staff with questions, raise red-herring objections and then slide away without spending any money. Freelance consultants, business owners and sales professionals regularly contend with “prospects” whose mission in life, it seems, is to squander others’ valuable time. Tire-kickers feel completely entitled to mislead honest working people by feigning interest in products and services that they have no intention of purchasing any time soon.  They also get their jollies by inviting marketing consultants to meet for coffee and discuss projects that have neither official support nor budget.

Tire-kickers are the bane of a Freelancer’s existence.  A method to politely expose and dispose of them is a useful time management skill. Posing questions and raising objections while in the buying process is responsible behavior and all whose livelihoods depend upon making a sale welcome serious prospects, including those who do not buy at that time. How does one tell the difference between a tire-kicker and a prospective customer? It all starts with asking the right questions (but you knew that).

The Zero Pain Hypothesis developed by Liz Ryan, founder and CEO of Human Workplace, assumes that a caller has no need for what you sell and it is an effective template to follow. Keep your tone friendly and helpful throughout. You might be able to persuade the tire-kicker to either make a purchase in the near term, or make a referral to a colleague who has money and motive to do business with you now.

1.  Who?

To whom are you speaking? Get the name, title, company, phone number, email and location of the person who makes contact. Get qualifying info up front and begin to make that person commit to the buying process. Questions are cheerfully answered, but this is not a game, it is business. The job title can help you know whether this person is likely to be the decision-maker or key influencer.

2.  What and Why?

What is the product or service that is being investigated and why is it needed? What business imperative is a priority for the caller? If the caller can provide a logical reason for contacting you and/or describe what has been done that is not  working, then you probably have a genuine prospect. The counter-intuitive genius of the Zero Pain Hypothesis recommends that you offer up an inexpensive, maybe DIY alternative to your services. Tire-kickers should back off once told of a cheap and easy path to what they want. As well, tire-kickers will reveal themselves by their vague and evasive answers to your questions.

3.  When?

Assess the urgency. Is there a deadline for completing the project or making the purchase? If things are open-ended, then you are speaking with a tire-kicker. The Zero Pain Hypothesis recommends that if possible,  you recommend a “place-holder” alternative, an inexpensive band-aid that will help out for the short-term, since there is no defined timeline.

4.  Where?

Where is the organization in the buying process — early stage vendor list making, soliciting proposals, or close to finalizing the decision? Is your questioner the decision-maker and who else may need to weigh in? What is the budget? If the caller has a deadline and/or a budget, then you probably have a genuine prospect. If the caller’s budget does not meet your minimum, then refer back to the cheap alternative. Restate what the project or product means to the caller’s business. If something big is on the line, that person might be able to perceive the “pain” point that your qualifying questions encourage him/her to acknowledge and proceed to talk him/herself into increasing the budget and selling him/herself on the value of your services.

Thanks for reading,

Kim

Professional Development , , , , Leave a comment

The Classic 6 Leadership Styles

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The effective leader is flexible.  S/he is possessed of self-awareness and knows that the style of leadership must fit the demands of the circumstances. What methods can a leader use to persuade team members to give their best performance? How can a leader inspire trust and confidence, obtain buy-in on a vision and goals, encourage bonding and build a cohesive team, build skills where necessary, acknowledge and respect skills where present, create loyalty and produce extraordinary results? The leader must assess the staff with whom s/he will work and employ the most effective leadership style.

I.      Directive

No-questions-asked coercive style that demands compliance. “Do as I say” and controlling.  Motivation is “encouraged” via threats and discipline. Are you looking for a way to kill motivation, persuade the staff to lose commitment and enthusiasm and squelch any respect the staff may have had for you? Look no further.

Most effective:       In a crisis when decisive action must be taken ASAP and there is no room for deviation from a tightly prescribed rescue strategy.

Least effective:       With highly skilled team members, who will quickly resent micro-management and the disrespect of an authoritarian culture.

II.    Visionary 

Inspires the team. Employees come to feel that they are a team and understand how and why their work contributes to the realization of the vision. Moves people toward shared goals/outcomes through empathy and clarity.  This leader states the vision clearly and compellingly, gets buy-in and then steps back and allows the team to work, stepping in from time to time to reiterate the vision and reinforce commitment and enthusiasm.

Most effective:     When seeking to help the team create and achieve goals for the long-term.

Least effective:    The leader is not credible and employees do not trust the vision and goals proposed.

III.   Affiliative 

Creates harmony that boosts morale and resolves conflict.  Builds trust between the leader/manager and employees. People first, task second. The focus is on helping the team to bond, but there may be hesitation when it’s time to take charge and get down to business.

Most effective:     When stepping into an environment where conflict has damaged commitment and morale.

Least effective:     When producing results is imperative and where clear direction, strategies and action plans are needed.

IV.   Participative 

Superb listener, team builder, collaborator and influencer.  A primary objective is to build commitment through consensus. Employees know that their input is valued and this generates commitment.  However, constantly seeking consensus can impede progress toward completing projects.

Most effective:     The staff are highly competent and mutually respectful. Turnover is low and the team is cohesive.

Least effective:     Close supervision is required for the inexperienced. There is no time to build commitment and consensus.

V.    Pacesetter  

Leads through example, has great initiative and a strong drive to achieve through his/her own efforts.  This leader has high personals standards and high energy,  but little patience and can become a micro-manager.  The team is a meritocracy and only A + results are acceptable.  Anything less and the under-performing employee will be pulled off the project.  Nevertheless, team members are inspired and remain engaged and motivated by a leader who “walks the talk”.

Most effective:    Managing highly motivated experts.

Least effective:   When skills development,  coordination and coaching are necessary.

VI.  Coaching 

Good listener who helps employees identify their strengths and weaknesses.  Knows how to delegate,  which provides skills training for staff members.  Encourages peak performance by providing opportunities for professional development and building the employee’s long-term capabilities.

Most effective:     When professional development is needed and employees are motivated to achieve.

Least effective:    The leader lacks expertise and/or the ability to teach or coach. Results produced by highly skilled employees are immediately needed.

Thanks for reading,

Kim

Survival Strategies , Leave a comment

***WARNING***WARNING***Take Action Now

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Ernest Hemingway said it best when he warned of how financial troubles visit us: slowly at first and then all at once. There are usually warning signs,  but they are not always recognized and they may persist for months,  or even years. For example,  business owners can go into denial about regularly occurring mid-month cash-flow problems if at the end of the month the bottom line looks healthy. Working more hours can be seen as just a sign of the times and in many ways that is a valid assumption. After all,  someone has to manage the social media accounts and generate the content marketing.

Oftentimes, corrective action can be taken to divert the impending disaster and other times, the crash is fated. Still, forewarned is forearmed and taking steps to protect the business enterprise is always the right thing to do (as long as one does the right thing!). Presented here is a list of early warning signs that indicate all is not well in your business venture:

1   Flat or declining revenue

2.  Unreliable cash-flow: difficulty in covering payroll, accounts payable, or payment to sub-contractors or vendors

3.   Prices reduced to stimulate sales

4.   Critical business investments cannot be budgeted

5.   Repeat business is declining

6.   Leads are dwindling or the sales conversion rate is declining

7.   Referrals are declining

8.   Inability to keep pace with growth, operational systems are overwhelmed

9.   Inability to fulfill promised deliverables on time

10. Client complaints about the quality of products or services

11. Accounts receivable statements not issued as scheduled

12. Working many more hours just to “hold on”

So what can you do? First, be vigilant about detecting warning signs and pay attention to the client list, conversion rate of leads, referrals and the amount of repeat business. If those values begin to trend downward over the course of a year, that is serious. Do you have a new competitor? Might you need to upgrade customer service? Should you step up networking? Or do you need to update your marketing message and sales pitch to better reflect client priorities?

Declining revenue and cash-flow issues might be at least partially remedied by sending accounts receivable statements on time, or increasing the down-payment that clients are asked to pay when a contract for services is signed. Declining revenues also ask you to look at the products and services that you offer and how you package and present them. You may need to increase prices, if expenses are cutting too deeply into revenues.

If repeat business and/or referrals are noticeably weaker, networking to renew your relationships and meeting new prospects may do the trick. Figure out ways to stay in contact with former and current clients. If you haven’t been sending holiday cards in December,  make a note to look into the process by the end of October.  Send congratulatory emails if you hear of a client success story. Reinvigorated marketing and PR can also be a useful defense, including content marketing. It may be time to start a monthly newsletter, to remind your client and referral bases that you are relevant.

On the other hand, maybe you’re facing too much growth too fast and you lack the infrastructure to successfully manage your good luck. Get ready to spend money to hire the right help and make useful systems or technology upgrades ASAP and cure problems in service delivery immediately. You are only as good as your reputation and word of problems travels very fast.

Finally, console yourself with the knowledge that every business venture must eventually respond to change and that will mean doing things differently and taking on risk by plunging into the unknown. How we respond to change is a test of our mettle. Be brave and face it down by first conducting an analysis of your business environment, competitive landscape and client priorities and then developing strategies and action plans designed to save the day.

Thanks for reading,

Kim

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Industry Growth Trends 2015 – 2017

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Growth  is always on the minds of entrepreneurs,  business owners and Freelance consultants.  Growth is essential for the survival of a business and it can take many forms,  from an increase in current and potential customers,  to a greater number of employees,  higher profits,  or the number of products or services available for sale.  Here are projected industry trends and B2B small business growth projections through 2017 that are based on expected demand,  meaning that there will likely be more current and potential customers ready to spend money in these industries.   The list was compiled by Jackie Nagel,  author of the blog “Oh, The Places Where Your Small Business Can Grow”.

Industries expected to outpace the overall growth of the US economy are:

Technology    42% growth projected

Health care    28% growth projected

Finance          14% growth projected

Retail              14% growth projected

HR Services

Human Resources is an exceptionally broad field and all aspects are expected to show growth over the next 12 – 36 months.  Executive search,  benefits management,  payroll management,  training/ professional development/ executive coaching and compensation specialists can all expect many opportunities to expand their client lists and generate more billable hours.

Internet Security

Freelancers and small business owners do not always pay attention to the many occurrences of internet data security breaches that hackers have visited upon several large corporations.  Be advised that recently,  I was one of many who received a phishing attack email that a hacker sent illegally from the address of a colleague.  The email address lists of all recipients were at risk.  No one wants the embarrassment of a hacked email bearing our business name sent to our client list.  Internet security risks are a real concern and the need for protection is growing.  It’s time to call in a professional and set up a firewall.

Marketing Services

Small business owners often have ambitious marketing plans,  but execution can be a sticking point.  Freelancers who specialize in helping small businesses to launch their marketing strategies will be needed to bridge the time,  talent and strategy development gaps faced by many small organizations,  for-profit and not-for-profit.  The demand for social media strategies,  videography and podcast development,  website development and content marketing expertise will likewise remain strong.

Technology Services

Small business owners and Freelancers continue to explore the benefits of cloud computing for data storage,  real-time document and secure data sharing and videoconferencing.  Entrepreneurs are in search of technologies that will help them to quickly scale-up a business.  Which apps will help entrepreneurs to efficiently grow and manage their enterprise and can it all be mobile?  Demand for technological advances such as 3 D printing and online eyeglasses and contact lenses that let customers virtually try on lens ware are big new entries to the scene and the trend will be upward.  Video game and app development continues to lure talented techies into entrepreneurship as does television and home theater installation.

Green and sustainable building construction

Architects,  structural engineers,  general contractors,  electricians and manufacturers of solar panels are expected to have lots of business through 2017.  Saving money on heating and electricity with energy-efficient buildings are big priorities that real estate developers,  current homeowners and prospective buyers are willing to pay for.  Even landscapers get into the act when they design attractive alternatives to water-sucking lawns.

Boutique mind/ body fitness studios

Overweight and over-stressed Americans are ever optimistic about a new regimen to cure what ails us.  Boutique cycling,  personal training, Pilates,  yoga and meditation studios will continue to proliferate in metro areas.  These studios are less expensive to operate than traditional fitness centers primarily because participants do not perform aerobic routines in big,  mirrored studios,  nor are lines of treadmills and ellipticals needed.  Rather,  participants are confined to a mat,  stationary bike or compact training studio that is stocked with  a well-curated choice of exercise equipment.  Boutique fitness studios even use proportionately less water than traditional fitness centers because participants typically shower at home.

Thanks for reading,

Kim

 

 

Business Plan , , , Leave a comment

SMART Goals For the New Year

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Happy 2015!  Once again,  we’re at the top of the calendar and the entire year is ready to unfold before us.  Traditionally,  January is the time for making resolutions.  Unfortunately,  most are not kept and some are not acted upon at all.  I encourage you to think about the kind of year that will make you proud and resolve to bring as many successes as possible into your life.  I respectively recommend that you should be optimistic,  realistic and proactive in that process.  Plant seeds for success as you develop SMART  goals — Specific,  Measurable, Attainable,  Relevant and Timely — that will serve as your road map this year.

1.  Be specific

Telling yourself that you want to “grow the business” or “make more money” is entirely too vague.  How much and what kind of  “growth” or “money” will be meaningful and achievable for your business over the next 12 months?  Are you looking to increase the amount of your monthly or quarterly billable hours?  Is your goal to expand your client list?  Are you in search of perhaps fewer,  but more lucrative assignments?  Would you like to add more prestigious clients to your roster?  All of those factors have the potential to stimulate business growth and bring in more money.

Specify and quantify the type of growth that you seek for your business and how much you aim to attain.  Would you like to increase your client list by 10%?  Increase gross sales by 20%?   Add one Fortune 500 client to your roster?  Increase prices for existing clients by 5% and new clients by 8%? Assess your top line (gross sales),  bottom line (net profit) and client list and consider what will be beneficial for the business; what is possible for you to impact; and determine which criteria will be used as the barometer of success.

2.  Take action

Cutting costs,  creating operational efficiencies,  clarifying your marketing message,  stepping up your networking efforts,  pursuing referrals,  raising prices and revitalizing social media activities are among the strategies that you will evaluate,  prioritize and perhaps pursue as you develop action plans and move forward on your goals.  For every goal that you set,  create an action plan with time table.

3.  Shoot for the stars

Aim high and set ambitious goals,  but be reasonable.   Setting unattainable goals is not helpful.  It is unlikely that you will add 30 clients to your roster in a year,  but if your business is one with a long sales cycle,  adding three new clients would be a real victory.

4.  Review quarterly

Reality will impact your goals along the way,  so it will make sense to periodically evaluate your progress to plan and make any necessary adjustments.  Monitor your measuring sticks and find out what is working and what may not produce the desired results.  Are there any goals that have not shown progress at the 3 month mark?  Do you know why that is so?  Pay attention to your progress,  or lack thereof,  throughout the year,  to help keep yourself focused on achieving what you set out to do.  Reward yourself when milestones are reached,  to maintain your motivation and enthusiasm.  Maybe there is a conference that you’ve wanted to attend previously,  but were unable to budget?  Increased sales may fund that item on your wish list and your business will benefit even more that you planned.

Start now and draft your business goals and do all that you can to make 2015 a rewarding year.

Thanks for reading,

Kim

Survival Strategies , , Leave a comment

Madam Builds an Empire

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“I got my start by giving myself a start.”

Madam C.J. Walker,  founder and CEO of the Madam C.J. Walker Manufacturing Company

Most who aspire to launch a business venture must overcome significant adversity as they build their dream.  It is safe to say that none faced a steeper uphill climb than Madam C.J. Walker,  the orphaned daughter of freed slaves and former laundress who became America’s first female and first African-American self-made millionaire. Born Sarah Breedlove in Louisiana in 1867, Madam Walker founded her hair care products company, the Madam C.J. Walker Manufacturing Company, in 1905.

She was a woman with vision; absolute belief in herself and her business model; passion, determination and courage. As all successful entrepreneurs do, she saw a problem, set about solving it and monetized the solution. That she was female and African-American in a time of enormous discrimination and limitations placed on those of her gender and race was apparently beside the point. The lady was not afraid to dream big.

Madam Walker was a savvy businesswoman who knew her customer (initially, herself).  She knew there was a large and dissatisfied market waiting to be tapped (African-American women).  She entered a business of which she had some knowledge— her four brothers were barbers and owned a shop together. When she developed a scalp ailment that caused her hair to thin, she consulted them for advice and experimented with various remedies, store-bought and home-made.

Madam Walker shared the family flair for entrepreneurship and she excelled in manufacturing, sales and product distribution. Initially, she made batches of her hair care potions herself, in a washtub, and personally sold her products door to door to friends and neighbors in Denver, CO, where she had moved to give herself a fresh start after marrying at age 14, becoming a mother at age 17 and a widow at 20.

Marketing was another of her strengths. To persuade women to try her product, she gave free demonstrations and created plenty of buzz along the way.  Later, she implemented the operational efficiency of mail order, to expand product distribution.

By 1908, she had hired and trained a team of female sales representatives and by 1910, she employed 950 representatives who crisscrossed the country making sales and creating loyal customers.  She also remarried, to Charles Joseph Walker, a newspaper advertising salesman.  She summarily launched successful newspaper advertising campaigns and adopted the name Madam C.J. Walker. A brand was born.

Madam Walker built an international business: her products were also sold in the Caribbean and South America.  By 1917, she had become the nation’s first self-made female millionaire, founder and chief executive of the country’s most successful African-American or woman- owned business.

Her only child, Lelia McWilliams, was born during her first marriage, joined her in the enterprise first as director of sales and eventually became president of the company.  After Lelia’s death in 1931, Madam Walker’s granddaughter Mae Walker (1898- 1945) and great-granddaughter A’Lelia Perry Bundles (1928-1976), also served as company presidents. The company ceased operations in 1981.

Madam Walker passed away in 1919. She was a revered businesswoman and philanthropist who not only built a spectacularly successful multinational enterprise from the ground up, but also knew how to pay it forward. She championed  women’s entrepreneurship and in Philadelphia in 1917,  she convened what is believed to be the first women’s business conference in the nation. She was no doubt a role model for other highly successful female entrepreneurs who followed her, such as cosmetics business giants Helena Rubenstein, Elizabeth Arden and Estee Lauder.

In 2007,  the Madam C.J. Walker Manufacturing Company became a Harvard Business School case, written by Nancy F. Koehn and Katherine Miller. In February 2016, Sundial Brands, a manufacturer of hair care and skin care products, announced that it would re-launch Madam C.J. Walker Beauty Culture products and that the line will be available at Sephora.

Thanks for reading,

Kim