How does your business generate revenue?
Revenues are generated through Fourword Marketing by offering
consulting services, website design, printing services, graphic design,
public relations and promotional products. Other sources also include
public speaking.
Tell us your worst entrepreneurial moment?
In the later stages of my last company, sales were plummeting as a
result of a weak auto industry. I had no idea at the time that just a
few years later GM and Chrysler would file for bankruptcy. As demand for
cars were at an all time low, that directly affected the demand for our
products. During the time, I chose to invest more money in the business
by bringing on new products. This resulted in increased overhead and
inventory costs. We had hoped to capture a larger part of the market
with our investments, however despite our efforts, sales continued to
fall. This resulted a great deal of stress on myself and the business.
In the end, I decided it was finally time to let go. I sold the
business, a bit less than what I would have gotten years prior. If I had
a chance to do it over again, I would have done the same thing. I did
what I believed was right at the time. Sometimes you just have to take
that chance. What saved me was knowing when to pull out; it was the best
and worst moment at the same time.
What do you want to share with your fellow entrepreneurs?
I think it's important for every entrepreneur to know that, whatever
they're going through, as bad as it might seem, they're not the first or
the only ones going through it. Every business owner from every
industry hits that wall where they feel that they're not wanted, not
appreciated, and unvalued. Feelings like where no one wants to buy from
you, getting crushed by competitors... but in reality most of that is
probably not happening. The market is constantly flowing - there's going
to be days where you are constantly busy and days that you're not. My
advice would be to build on the saying "it's not what you know but who
you know" - I would say "it's not who you know, but who knows you." It's
really about getting out there in person - get out of the office, meet
real people, shake hands and network. You can't run a business through
tweeting, posting and blogging. By getting out there, that is the most
influential and powerful tool in marketing you can do, regardless of
industry.
What are you doing right now you want to share?
My speaking is keeping me very busy - I'm speaking for a number of
industry groups, associations, companies, helping them understand how to
better relate to their clients, how to meet expectations and create
great customer experiences. I am also sharing my personal story with
youth groups, schools, and business associations. It is my hope that by
hearing my story, they will be motivated to better take on their own
challenges.
