Art of Branding

Canadian Business Magazine: Winners & Losers 2009: Big winner – women
It wasn’t called a ‘he-cession’ for nothing: why more women kept their jobs.
By Lianne George

“Clearly, something needs to change,” a disgusted Howard Archer, chief European and U.K. economist at IHS Global Insight, told reporters back in February, commenting on the cabal of battle-weary British bank chiefs called to testify before parliament’s Treasury Select Committee. “You can argue that the men have made a right mess of it, and now the ladies should have a go.”
It’s been a popular sentiment this year. Take Iceland. Since the island nation’s devastating economic meltdown, it’s the ladies who have been directing clean-up — chief among them, the country’s first female prime minster, Johanna Sigurdardottir, who vowed to exercise “prudence and responsibility” in rebuilding the country’s financial system, where her male predecessors did not. Two more women, Elín Sigfúsdóttir and Birna Einarsdóttir, were recruited to head two newly nationalized banks.
Meanwhile, around the world, a seismic gender shift in the job market has taken hold. In Canada, a staggering 71% of the roughly 400,000 jobs lost since October 2008 belonged to men — while employment rates among women remained virtually unchanged. Reports from the U.S., Britain and elsewhere tell the same story — prompting commentators the world over to joke, a little cloyingly, that the Great Recession was really more of a he-cession.
One theory put forward to explain the job-loss divide is that women are simply cheaper. Even at the dawn of 2010, women still make, on average, just 70% of what their male colleagues do. This long tradition of being “shamefully underpaid,” may be suddenly, amazingly, paying off, says Catherine Kaputa, a Wall Street veteran and author of The Female Brand: Using the Female Mindset To Succeed in Business. “Everyone’s looking for value these days,” she recently told the London Evening Standard. “When the cost-cutters go over the compensation figures, women look like a bargain.”
Of course, there are much larger factors at work — chiefly, male dominance of certain cyclical industries. More than half of the Canadian jobs lost between October 2008 and October 2009 were in manufacturing and construction, sectors that are overwhelmingly occupied by men.
Still, it stands to reason that a greater ratio of women in the workplace means more opportunities for them to step into leadership roles, a boon for proponents of gender equity everywhere. But it’s not just about fairness. If the latest research is any indication, the economic benefits of having more women leaders are enormous.
Earlier this year, Michel Ferrary, a professor of management at France’s Ceram Business School, published a headline-grabbing paper outlining his discovery that the French companies that best weathered the financial tsunami all had one thing in common: a large proportion of female managers.
Ferrary studied companies from the CAC 40 stock index and found that the more women there were in a company’s management, the less the company’s share price fell in 2008.
Among the dozens of examples he cites, Ferrary pointed out that Hermès, the only large company on the exchange whose share price rose (up 17%), has the CAC 40’s second-largest female management team (55%). Among French banks, Ferrary compares BNP Paribas, whose share price fell by a relatively modest 39% in 2008, to Credit Agricole, whose share price tanked (down 62%). Almost 40% of BNP Paribas’s managers are women, he notes. Credit Agricole’s team, however, consists of only 16% women.
Coincidence? Ferrary thinks not. “Feminization of management seems to be a protection against financial crisis,” he said. “Several gender studies have pointed out that women behave and manage in a different way than men. They tend to avoid risk and to focus more on long-term perspective. A larger proportion of female managers balances the risk-taking behaviour of their male colleagues.”
Of course, it will take a lot more than one research paper to bridge the gender gap in the corridors of power. Still, some observers see the Great Recession as a turning point. In a piece in Foreign Policy last summer, conservative commentator Reihan Salam argued the he-cession signals the end of thousands of years of male dominance in global affairs. Because of the economic crisis, he wrote, “more people realize that the aggressive, risk-seeking behavior that has enabled men to entrench their power — the cult of macho — has now proven destructive.” True or not, what better time to test the theory.

For more: visit www.selfbrand.com

MANAGING FOR SUCCESS

Triumphing Without Tears At Male Firms

By GARY M. STERN, FOR INVESTOR’S BUSINESS DAILY

Posted 12/24/2009 06:00 PM ET

Frustrated by criticism from manager Tom Hanks in the film “A League of Their Own,” a female baseball player bursts into tears. “There’s no crying in baseball,” Hanks tells her in a fatherly way.

In her book, “There’s No Crying in Business: How Women Can Succeed in Male-Dominated Industries,” author Roxanne Rivera implores women to control their emotions to thrive and move up the ranks. Crying, it seems, doesn’t work any better in business than baseball.

Succeeding in industries dominated by men like construction, medicine, financial services and science research requires a separate set of skills for women, Rivera says. In these heavily male fields, women must master communicating with men, publicize their feats and find ways to overcome the old-boys’ network.

Firms that can tap female talents can boost their revenue. Since many women executives possess different strengths than men, they help businesses reach new markets, explore new revenue streams and retain top producers.

PMR Construction Services President Roxanne Rivera at the site of a new company facility in Albuquerque, N.M. She says women in male-ruled industries.

When Rivera and her husband started PMR Construction Services in Albuquerque, N.M., in 1981, Rivera became president and he was named vice president. When male contractors called to speak to the boss, Rivera told them she was in charge, but they asked to speak with someone else.

“If I were going to be successful, I had to swallow my pride and build credibility,” she says.

Building Credibility

Rivera joined the board of the Association of Builders & Contractors, gained her contractor’s license and joined a worker’s compensation advisory committee. Soon, builders were coming to her with questions. She learned that becoming an expert built her credibility with men.

Rivera also noted that many women “wear their hearts on their sleeves,” which won’t work in business meetings or negotiations. Getting too emotional undercuts a woman’s credibility.

Moreover, many men engaged in crude behavior to test her reactions. She developed a “thick skin” and takes a deep breath before reacting to gain control of the situation.

In industries like publishing and media, where many females have achieved senior-level positions, women can find role models and mentors. In construction, there were so few women that this wasn’t possible.

Instead Rivera discovered a “band of sisters.” She joined the National Association of Women in Construction where she learned from other women, shared difficulties with them, and found a mentor in a seasoned woman who ran her own construction firm.

To compete with men, women often resort to self-defeating behaviors. Rivera recommends that women:

• Avoid trying to act “tough” like a man.

• Don’t project false confidence and bravado.

• Avoid showing guile — instead be assertive, without being pushy.

Many women succeed at male-dominated businesses because they develop long-term relationships, a source of strength of many females. “In this age with e-mails and texting, developing strong relationships builds a clientele,” Rivera adds.

“Most women aren’t as good as men in promoting and branding themselves,” explains Catherine Kaputa, author of “The Female Brand: The Advantage of the Female Mindset” and a former senior vice president in community affairs at Citigroup (C).

Men often exaggerate their deeds while women downplay theirs. Women need to publicize their deeds or get eclipsed by more aggressive men.

For example, one woman exec told Kaputa that she arrived early at work and often rode the elevator with the CEO. Slightly intimidated, she’d discuss the weather. When a senior male executive encountered the CEO on the elevator, he’d tout his latest deals.

Finally, she got the message and told the CEO about her revenue-boosting feats. Within months, she was put on the fast track and was running a major division.

Another CEO said that men streamed into his office six months before bonus decisions to detail how much revenue their unit generated and pinpoint the specific bonus they deserved.

“In all my years, a female managing director never asked for a bonus,” the CEO noted. That pressure led to higher bonuses.

To succeed in male-dominated fields, women must overcome “invisible barriers,” Kaputa says.

Betty Spence is president of the National Association for Female Executives, an association of 20,000 women leaders and entrepreneurs. She says men typically form informal networks at golf clubs, sporting events, and while socializing at bars, which excludes most women.

“Unless companies change their culture so women gain more visibility, exposure and training, the opportunities won’t be there,” she said.

What Women Bring

When women attain senior- level posts, they bring certain strengths to a company that can boost results. Women bring “collaborative consensus-building and long-term strategic thinking” to management, Spence says.

Moreover, women often employ less risky strategies than testosterone-driven men. Had Lehman Bros. been run as “Lehman Brothers and Sisters” it might have taken fewer risks and might still be operating, Spence adds.

Females can often read subtle cues that men miss. Kaputa recalls one female senior executive at an advertising meeting who sensed that the client wasn’t happy with the proposal. Men disputed that claim, but when the client was asked, the female executive was proved right.

Her emotional intelligence sensed the client’s dissatisfaction with the proposal, which led to revising it.

Ironically, Rivera points to a study conducted by Penn State psychologist Stephanie Shields that said when men cry in business they’re viewed as sensitive, but when women shed tears they’re perceived as incompetent and weak.

Talk about double standards.

There’s an old adage in branding, “Brand reputations take a long time to build and a short time to destroy.”

Boy did Tiger demonstrate how true that is. Tiger had it all. World’s top golfer. Beautiful wife and children. Rich and famous. Wholesome, attractive image. Yet Tiger took a wrecking ball to his personal brand – one that he’s been building since childhood. It’s a Greek tragedy in its epic proportions and he has no one to blame but himself.

Tiger was the first billion-dollar athlete who had endorsement contracts and business partnerships with the world’s top blue chip companies, including PepsiCo, Gillette and AccentureThe companies who sought Tiger out to endorse their brands paid him top dollar not just because he was a star golfer and not just because he was famous. Companies sought Tiger as a brand endorser because he stood for something they wanted their brands to stand for too – success, vitality, wholesomeness.

Plus Tiger’s brand also represented something quintessentially American –  self-empowerment. Tiger was wholesome, earnest and self-made. He came from a humble family that represented a melting pot of races – who through talent and hard work succeeded. He represented America at its best. We all wanted to be like Tiger. All that is changed now.

Tiger may have been a personal branding superstar, but he forgot one of the most important rules of branding: Your reputation is your most important brand asset.

Already, in just the short time since the scandal broke, the power and magic of the Tiger brand is taking a nosedive. The Davie Brown index that measures celebrity brand influence – how a particular celebrity can influence buying a brand and build brand loyalty – announced that Tiger dropped from 6th place overall to 24^th place.

Of course, we don’t know how this saga is going to end. Tiger could even turn things around with a remorseful apology to his family, his fans and supporters – this time in person – and seeking professional help for his problems. It would take time, but anything is possible. America loves nothing more than a heartfelt redemption story.

As I like to emphasize in my branding talks, you are your most important asset. You are an asset that no one can take away from you. In my opinion, your personal brand is a more valuable asset than what we typically view as assets – your investment assets and your real estate assets.  Personal branding is about maximizing the value of the asset that is you. It’s important to build your brand based on your authenticity – what is special, different and valuable about Brand You.  And guard your personal brand reputation with your life. Because it’s that important.

Visit Catherine Kaputa’s website: www.selfbrand.com

Last week, Oprah shocked her audience with the announcement that after twenty-five years on the “yellow brick road of blessings that led me to you,” she was quitting her top-rated “The Oprah Winfrey Show” in September 2011.

It’s a testament to her stature as a top entertainment “brand” that her announcement became a big news story. After all, she wasn’t leaving soon and she wasn’t abandoning the media world to meditate on a mountaintop. Oprah’s plan was to dedicate all her attention to her new cable venture, OWN, The Oprah Winfrey Network.

Interestingly, when I did the research for my book, The Female Brand, Oprah was the Number 1 female businesswomen cited when I asked women, “Who do you look up to as a female role model or business leader?”

Oprah is clearly someone who has built a strong personal brand – so strong that you don’t have to use her last name. She is a leader in the entertainment industry and she’s someone who knows how to protect her brand. So what can we learn from this personal branding pro? Here’s my short list (and this list could go on and on):

• Don’t be afraid to change at the top of your game
Oprah is a master of quitting while she’s ahead. Making a move when you are at the top of your game is often a smart career strategy. I was on a business panel recently and one of my fellow panelists – an Executive Vice President at a well known bank – made the point that it’s counter intuitive, but the best time to make a career move is when you are thriving. Whether it’s a lateral move in your organization, or you’re trying to increase your responsibilities or move to a new experience, you have the most leverage and confidence when you are happy and doing well. Yet, that is time most of use don’t think of making any changes.

• Surround yourself with the best talent
Have the confidence to surround yourself with talented people. Look at all the talent that Oprah has launched – “Dr. Phil,” “Rachel Ray” and “Dr. Oz” shows all got their start with Oprah. It will not only make your team one to be envied, you’ll have a reputation as a true leadership brand – someone who creates a culture of leadership in the company.

• Have a different, authentic message
Be different is a cardinal rule of branding, yet one that is often neglected in this “me too” world. Oprah never went the exploitative interview approach of the Jerry Spinger show and others. Rather she traveled a different path focusing her brand around empowerment – what some have called a “unique blend of self-help spirituality and commercial flair” or the “mystical and the practical.” For a brand, she is unusual because the appeal of her brand message transcends race, age and economic circumstances.

• Innovate
Oprah created a book club in 1996 and helped get America reading and discussing books. (As any author knows, landing a slot of Oprah often leads to the best-seller charts.) Later she created “O, The Oprah Magazine” with Hearst as a print vehicle for her empowerment ideas. Recently, she championed the movie, “Precious,” as an executive producer.

• Admit your mistakes and move on
Most of us have had our share of failures and mistakes, and so has Oprah. But she quickly puts them behind her and moves on. One of her book choices, “A Million Little Pieces,” became a controversy when the author, James Frey, admitted writing fiction not memoir in key scenes, Oprah had Frey on her show and confronted him – and it became a ratings bonanza. Some of her ventures, like her philanthropic reality show on ABC, “the Big Give” flopped and was cancelled after one year.

•
Like many of us, Oprah has had her share of diet successes and failures, but whatever her weight, she packages herself well with her own style – classic, clean lines with strong color.

Oprah has many leadership and branding tips we can all benefit from. And I’m sure I’ve missed some. Let me hear your thoughts.