A Business Wake

A friend of mine is preparing to dissolve her beloved business. Big sigh. When I heard the news, I knew she must be in the starting stages of business grief. I prepared to contact her in much the same way as I would reach out to a newly widowed friend. What to say? Will she be able to talk about it, or is it too soon?

Fifteen years ago, I closed my family's business, a travel agency. After making the decision, there was much to do: meet with employees, negotiate debts with creditors, sublet the office space for the remainder of the lease, sell our fixed assets, contact our licensing agencies, etc... Among the toughest parts was, without a doubt, letting long-time clients and suppliers know that we had decided to close the doors and why. They had become such great friends over the years.

We were closing the business because of my mother's terminal illness. Because of that, the closing of the business became a metaphor for what was happening in our family. A few months later, when she passed away, many clients and vendors came to her memorial and shared wonderful stories about their fun experiences with the travel agency as much as with my mom. The memorial became a funeral for 2. My mom and her business.

I am a believer in happy endings. Because we hold our businesses so close to our hearts, I have suggested to my friend that she have a business wake. I'll host. We all love her business and will miss it. This would not be a funeral, but more reminiscent of an Irish wake, with a lot of drinking and jolly story-telling. I imagine that these might become commonplace. Perhaps this could be a new business for an enterprising event producing entrepreneur!

When it comes time to close a business, the owner can feel ashamed, and filled with a sense of failure. I say, "Nonsense!". When a venture no longer serves its original purpose, profitable or not, close that sucker down and move on to another path toward your next source of happiness. Far too many of us have held on to a business, a job, or a career that WE have outgrown or that has simply become a drag.

So, make the decision, fulfill your obligations to others, throw a party and move on to brighter days. I'll host.

How Sticky Are You?

Here is what I love about the book, Made To Stick: You will learn how to craft messages than MEAN SOMETHING. Corporate babble is easily forgotten. Touch my heart, make me laugh, give me goosebumps, force me to remember your idea and make me want to share it.

I just dread seeing, hearing, reading ads that include "Our goal is to exceed your expectations". S-N-O-R-E . Meaningless words. If I paid an ad agency to develop a brand message for me and that was what they came up with... well, you can imagine.

This book starts with the example of Subway's Jared, the guy who lost over 100 pounds eating their food everyday. How many years ago did they roll that out? You still remember Jared, you remember that he ate only Subway and he lost a ton of weight. Simple idea, big message, easy to remember and tell to a friend. Sticky!!!!!!! The message sticks.

Who cares if your company has convenient parking, award-winning service, 65 years of experience, serves the entire Midwest? Put that information in a message that SPEAKS to me, now you've got something.

I love this book, love the idea, and can't wait to have you read it. You can get a discount at Horizon Books, just mention the Marigold or Mary in the Morning Book Club, or order it through amazon.com using the icon link provided.
Mary

From the Marigold website, GoMarigold.com:

Marigold and sponsor Bill Marsh Automotive Group are proud to present the Marigold Book Club. Together we'll read and discuss some of the hottest books to develop your career and your business! First up? Made to Stick by Dan Heath and Chip Heath. Why do some ideas thrive while others die? And how do we improve the chances of worthy ideas? In Made to Stick, accomplished educators and idea collectors Chip and Dan Heath tackle head-on these vexing questions.

Join us on 106.7 YOU-FM April 9th from 7am-7:45am on Mary in the Morning for our Book Club launch! Do you have to read the book to be a member of the Club? No; but we hope you will. Membership is free, but you must be registered!

Sign Up for the Marigold Book Club Here!

Read about Made To Stick in TIME Magazine

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