Northern Michigan's small business culture

So, a view of the Bay means half the pay, blah, blah, blah. Well, that view of the Bay seems to have another impact on our lives: unstoppable optimism and creativity in forging a life here. In speaking with TC Chamber president, Doug Luciani, he shared his experience of meetings with people who have recently closed their businesses or lost their jobs. Consistently, he finds them enthusiastically reinventing themselves, regardless of the blow they've just received courtesy of Michigan's economy. No whining, no pity party, just a comfortable state of "hmm, what next?".

I believe that spirit comes from our naturally entrepreneurial culture of small business in northern Michigan. We don't have many mega-employers, and there is a "business as usual" feeling about supporting ourselves through hard work and supporting our neighbors' businesses. You just figure it out.

The sheer numbers of self-employed, independent freelancers, based here, doing work around the globe seems disproportionately high for a non-urban region. Our corner mom & pop businesses, started with a dream and driven by an unexhaustable work ethic make this economy and this lifestyle work. We just figure it out, committed as we are, to staying here.

I love it. The people here are so much more interesting than corporate cubicle dwellers.

If you love it too, be sure you are buying local goods, supporting local retailers, dining in locally owned restaurants, supporting our farmers, wineries and utilizing the services of local professionals. These times are NOT business as usual, and our spending habits will make or break this small business dream in northern Michigan.

Keep the dream alive, with EVERY purchasing decision you make. Your livelihood may depend upon it.

Marketing through Media Relations

So you want some free media exposure? Here's how: Make life easier for folks who work in the media. Simple. If there is a national story on national media, local media is looking for the local angle. Help out by being the local angle. You don't need to be an expert commenting on a news story.

Watch, listen and read the news differently. Be a scout for your connection to the larger story. This is what publicists get paid big money for.

The next time you hear yourself responding to a news story with, "That's just like my story", or "Maybe that is what's happening in Tulsa, but here in Petoskey, we handle things...", call us!, e-mail us!, let us know your story.

Example #1:
You post a receptionist's job listing for an $8 an hour job and get 350 applications including applicants with Master's Degrees. That is the local angle on the national economic news of employment figures released that day. You and your company are the LOCAL ANGLE.

Example #2
Your company has made a deliberate effort to go green. After measuring the savings, you calculate a decrease of energy usage at 20% and an immeasurable boost in employee morale. This is a LOCAL ANGLE to any news of any large corporation going green OR of low employee morale due to the economy.

Example #3
A national story breaks about a home invasion at a celebrity's residence. LOCAL ANGLE: Local security company offering tips on how to protect your family at home.

Don't worry about a fancy press release, a phone call or well written e-mail that explains why people will find your story relevant is fine. Include your contact information and the basic information you want to share.

Good luck and good exposure!,
Mary

The Upside of Fear

Today I interviewed Pam Slim, sister blogger and author of Escape from Cubicle Nation. I have followed her blog for about six months and especially enjoyed her video post of a presentation she made called: The Upside of Fear( Click Here to watch it). What struck me was the title. The Upside of Fear.

At Marigold, we are always scouting for timely topics and great speakers. Honestly, I usually trust my instincts that what interests me will most likely interest our audience. The Upside of Fear, oh yeah, this is good stuff. Have you found fear peeking at you from behind your business plan or your dusted-off resume? Whereas most of us are completely immobilized by fear, it can actually be the motivator behind great and unlikely strides toward success.

We used to feel that a paycheck was the safe option as compared to freelancing or going into business on our own. Ironically, in this new economy, working for yourself may give you a greater sense of control over your destiny and income. How many of us with jobs are living in fear of a paycut or layoff? At least with your own business, you can bob and weave through this new set of circumstances, morphing your business to fit economic changes instead of waiting for your employer to "do something".

I recently spoke to woman who was dreading being laid-off. Her strategy.... she approached her employer with the proposition of terminating her employment and becoming her first client. She knew she could find other clients that had downsized her same position and needed only "part-time" help now.

If this idea strikes a chord, my advice:

• check out Escape from Cubicle Nation
• start talking to business owners about their needs in your area of expertise (especially if they have recently laid off employees)
• make an appointment with a local SCORE counselor
• subscribe to Marigold e-news and attend our events
• and finally: feel the power of taking action!

If you think that this is the worst time to start a new business, I ask you: "What is this a good time for?"

Women's History Month

Every family has one, an Historic Woman in our past. A sassy aunt, a grandmother who survived the depression years through nothing less than true grit, a mother that would stand up to the school principal (even when it WAS your fault), a great-aunt who bucked the system. Regardless of their tactics or temperament, they made an impression of strength that has stayed with you and your family.

I certainly had troop of rebellious, strong women to lead the way before me, leaving no doubt of a woman's potential. My grandmother, Faye Elizabeth Smith Keyes was the first female columnist for the Detroit News. Her daughter, Faye, was the first woman to have her own weekly radio show on WJR (some coincidence). My mother's mother carried the million dollars of war relief money from the U.S. to the Phillipines after WWI and trekked through their jungles establishing cottage industries to establish their economic recovery.

But of all the women in my family, it was my spinster great aunt YaYa, a hard working, studious librarian who touched my heart. Her patient and content demeanor, love of routine and hard work and an ability to never get her feathers ruffled, stand out as the makings of a woman with skills and abilities I have yet to master.

Who stands out for you? The bold brassy dame? The sweet loving angel? Please share your story with us and don't forget to share these stories with the children in your family. These stories pave the future with possibility.

Dirty Money? Part 2

"From birth to 18, a girl needs good parents. From 18 to 35, she needs good looks. From 35 to 55, good personality. From 55 on, she needs good cash. I'm saving my money." - Sophie Tucker

I loved, absolutely loved, the discussion about money at the Marigold Forum Lunch last week. As is our way, the conversation weaved its way from business to personal and back again, with the group getting increasing comfortable with each other and the topic. Do we pay down our debt or stash or cash (do your debt duty, but stash any extra cash was the consensus)?

How do we better collect on accounts receivables? Stay on top of them and make it personal. Don't let unpaid invoices go unacknowledged. How do we increase cash flow? Invoice customers when the work is done, not just at the end of the month. Send reminders more often. Be light-hearted in your invoice reminders but make your point.

So much great information was shared by women who are in the trenches of their business and household finances. Thank you to those of you who participated!! And, a big open armed invitation to attend our next Forum Lunch which will focus on when it is the right time to expand your business. New services, products, employees, buying a building, etc... Whatever form it takes, timing is crucial
Mighty Oaks from Little Acorns Grow; Is it Time to Grow Your Business?
April 23, 11AM-1PM- Elks Lodge

Register here

Dirty Money?

Can you remember the day? That special day when your mom or dad sat you down for..."The Talk"? They started by saying that they needed to discuss something with you that was going to be a wonderful part of your life, someday. They wanted you to be prepared for the joys it could bring, but wanted to alert you to the dangers that lurked. They told you that you could come to them, at any time, and they would answer your questions, without judgement.

Do you remember that chat? The chat about finances, money, economics? No? Oh, my.

Well ladies, if you are in the business world, you need to be comfortable speaking about money. It is not the dirty subject that nice girls don't talk about. Money is the key to business, and it works as a tool in keeping your business afloat and growing.

We have produced events on retirement plans, saving for college, the more delicate side of the dollar bill. This week's Marigold Forum focuses on MONEY, CASHOLA, CLAMS, SMACKERS and how we use them in the daily operation of our work. How to collect customer receivables, do you charge interest? Need more inventory... do you understand your credit line? Laddering your CDs for cash on hand?

Money makes the world go around and YOU need to understand how to USE money to get what you want. Join us for Money is the root to all.............. Business Success! A Marigold Forum on Feb 26th, 11-1PM. Click here for details.

Lesson Plan

This month I am giving a couple of speeches to womens groups where I have promised to share lessons I've learned on the way to, well... here. In preparing my remarks, I remember my 16 year old son commenting to me just a few years ago: "Mom you're to old to be relevant and too young to be wise". Touche. So, I hope that the six years that have passed have brought me some wisdom, or relevance.

I know that women listen and learn best when information is presented in a story. The curious thing is that when I look back on the lessons I have learned (that are worth sharing) the stories seem to have the common thread of calamitous results. How do I feel about getting up in front of large groups and telling tales of disastrous situations? I can't wait! Because we all share these moments in life, which we either created all on our own, thank you very much, or life handed them to us almost as a dare. "No way will she survive this little gem".

That is pretty much how I feel about my personal and professional life. A combination of the shiny little chrome ball bouncing around a pinball machine (TILT!!!) and a game show contestant waiting to see what she's won, hoping that the powers that be will reward me, if for no other reason, than sheer resilience.

Some women had a clear path from high school graduation to where they are today as grown women. I never had a 5-year plan, a goal or a vision. I just knew that at any point in my life, I could take a quiet moment and say to myself: "I don't have a clue what my life will look like it 5 years from now, BUT, I do know that it will be completely different than it is today, and it will be fabulous. Can't wait to get there!"

So what is the lesson in that? Have faith that if you prepare for the just next step, the journey will reveal itself.