August 2007

During a radio show interview this morning, I was asked how couples could be successful in business despite challenging life issues that are common to all families. I told them about Kibby and Jay Mitra and Sheri and Rich Schmelzer.

During the show, the hosts joked about how an increase in family businesses could result in an increase in the divorce rate. However, as Indie Beauty Network member Maggie Hanus of A Wild Soap Bar says, "The family that grinds together binds together." I tend to agree.

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Recently, I worked with "Sarah," an hebalist who asked me to review a "corporate identity" proposal she received from a graphics artist. The proposal was for $9,000 to create a logo, business cards, brochure, letterhead and other collateral materials. That’s a lot of money, but the bigger issue for Sarah was whether she knew herself enough to give the graphics artist the details needed to clearly and precisely create her marketing materials.

After a few email exchanges and an hour consultation with me, Sarah concluded that she needed to identify exactly who she was as an herbalist and entrepreneur before spending money on graphics materials. In other words, Sarah had to create her brand in her own mind before an artist could give life to it. Here are some of the things Sarah and I talked about, along with some tips to help you avoid spending a ton of money on marketing materials before you first, know thyself.

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Riding high on the success of the Pirates of the Caribbean movie series, The Walt Disney Company last year dumped several high level executives who were responsible for labor intensive projects that did not result in lucrative licensing deals. In June 2007, the third installment in the Pirates series took in $43.2 million worldwide in its first three days, proving the power of one good project over many mediocre ones.

So here’s the tip: the next time you consider launching a brand new product, think first about whether expanding the power of an existing one might be a better strategy. If piggy backing on the proven strength of one success rather than using resources to create new ones works for Disney, it will probably work for us Indies too.

• Proven products
• Increased financial rewards
• Less work
• More personal time

Isn’t that what you’re in business for in the first place?

To express that it’s difficult to find something, you may say, "it’s like looking for a needle in a haystack." I felt that way a few days ago when someone called and said, "Hi, I found you in the September ‘07 issue of Entrepreneur Magazine …"

I didn’t hear another word he said. I had already started heading for the closest magazine stand to find myself (the needle) in the magazine (the haystack). Finally, there I (or at least my name) was, on page 36. But the best part is that the article mentions the Indie Beauty Network! It’s a small "Flash" article called "Eye On Makeup," written by Lindsay Holloway. It’s about the importance of targeting a niche if you are in the Indie beauty business, and specifically mentions the market of young girls ages 5 to 9. I am honored to be included.

There’s lots more other great stuff in the issue, including a guide to new technologies for growing businesses and a spotlight on "hot" businesses like day spas and businesses selling pet products and sweets. Get your copy on most news stands or subscribe online here.