Create an entrepreneurial spirit at your firm

Innovation is vital to professional organizations 

During these tough times, innovation is key. Take the best of what you do and embed it into new products or processes. If you produce something of quality (product or service), can you also transfer that element of quality to another aspect of your business to increase sales or ease the cyclical nature of a product or service?  

I recently interviewed a retired V. P. of a large snowmobile manufacturer. At one point, the company's assembly line only worked six to seven months out of the year producing snowmobiles. When the new management team added ATVs to the line-up, sales grew and the production became year-round. Sales did so well that the management team took the company public five years later and the V.P. took an early retirement with his stock proceeds.

In my business as a writer and marketing consultant, when print items such as brochures and newsletters are chopped due to budget cutbacks, the same content can be delivered in more cost-effective ways: websites, blogs, presentations or slivered into social media “key messages.” With my expertise at producing large-scale print projects, I'm now offering memory books for loved ones. These mini biographies tell a person’s story from many different viewpoints, complete with photos. 

If you work at a law firm, create a profile of your ideal client and find ways to reach that audience. Doing pro bono work also opens new doors. Since most lawyers have a specialty, penetrate the markets that could use your legal knowledge and advice. Get the word out by sending e-newsletters detailing successful case resolutions to those market segments.

My marketing adventures included working with a podiatrist who also offered orthotics and diabetic shoes, thereby supplementing office visits with products. I also worked with an internist who added nutrition supplements and nutrition counseling to expand the office practice. These are natural extensions of one's expertise. How can you expand and supplement your professional services?

New anniversary line launched

My company’s new offering, Minted Memories®, has been launched. It’s a product line of unique anniversary booklets and videos for companies celebrating milestone anniversaries. My first batch of letters to prospects went out today. I was prepared to send them last Friday, but thought that day might be too ominous – like stepping on a crack, breaking a mirror or walking under a ladder – since it was 9/11. So, good things can and do occur on Mondays.

Mark Salloum, of VideoMagic, and I are eagerly awaiting some orders for Minted Memories® videos. My graphic designers and I are ready to put our unique stamp on booklets ordered through the program. Their skills at designing annual reports, newsletters and brochures will be just as amazing when applied to this format.

Meanwhile, the memory book for my mother is in the layout stage. When completed, it will be a fitting personal tribute to a woman who has had an incredible impact on just about everyone that she met and, most especially, her children.

These projects reflect solid values, hard work and the ability to overcome adversity to reach prosperity. In their own way, each offers a tribute and sense of hope. Best of all, these stories allow us to get a closer look at the amazing people who have brought some great things to life. Whether successful companies or close-knit families; in times of turmoil, we need more of both.

Welcome to the 21st Century cyclone

It’s almost a natural disaster. But, alas, it’s mostly man-made. I’m talking about the financial meltdown/sub-prime mortgage crisis/manufacturing base erosion/and conversion to the Web that has upended a lot of industries. As we sort out what works best and will sustain us economically over the next few decades, if not longer…let’s not lose sight of excellence. If people continue to do what they do best, what they are passionate about, and what they have a strong interest in, how can we go wrong?

Certainly, I hope my business will survive. I know the editing, design and production process. I’m a skilled writer and I work with some very talented people and outstanding suppliers. We like what we do, some of us even love it and wouldn’t want to do anything else. Right now, I’m trying to apply my strengths to new venues like presentations. Perhaps in addition to writing and producing annual reports, newsletters and brochures, my company can produce anniversary books for companies or memory books for families of the recently departed.

If you love what you do, how can you stretch that to new markets or different industries? Can you turn your hobby into a business while you keep your day job (if you have one)? Can you partner with someone in a similar industry for added strength and resilience?

Think back to how you made it in your career or business. Who helped you? Are you extending that help to others? Like the people of Fargo, N.D., we need to come together in times of crisis and prevent the worst from happening. Let’s rally behind the producers in this economy, not the shakers and takers.