Bold decision early on key to entrepreneur's 25 years of success

Showcasing experienced entrepreneurs offers an added marketing communications or social media element to help promote their businesses. In addition, it provides a forum through which they can share solutions to unique business challenges that might be the answer to a similar challenge with which yet another entrepreneur is struggling. This openness of information flows with the following story offered by

Dona Blunt, president
Newport Promotions
A certified WBE (Woman-owned Business Enterprise)
http://www.newportpros.com/
dona.blunt@newportpros.com
phone: 847-389-5500
fax: 888-884-9726

ABOUT MY BUSINESS
I'm in the business of building businesses. What Newport Promotions provides for clients is what will make their phones ring and bring them more sales. We offer promotional product advertising which is a specific form of advertising just as are radio, TV, Internet, and print. Our products range from employee recognition awards and trade show premiums, to custom golf outing prizes and corporate identity pieces designed to enhance marketing programs.

MY UNIQUENESS
What makes Newport Promotions stand out can be attributed to my years of experience, my firsthand knowledge of marketing, and a genuine concern for the success of my clients. We form long-term relationships as opposed to one-time transactional deals. And, because of my experience, I’m able to get my clients the most appropriate products at the most reasonable prices and get them delivered on time.

IDEAL CLIENT PROFILE
The business person who recognizes that there is value in what I bring to our relationship would be my ideal client. These are people who are not just shopping for the lowest price, but those who want to get the best value for what they are spending. They consider me a partner in their marketing programs and look to me to find and furnish the promotional items appropriate for both their plans and their budgets. Ideally, they are companies with annual or on-going promotions built into their marketing strategies. As I would begin to work with the client and come to know their business, they wouldn't need to seek out new vendors for each new marketing or promotional initiative, since I'd already have their past purchasing information on file.

UNIQUE BUSINESS CHALLENGE
Like most new businesses, when I started out in 1985, I was taking any and all clients. As a result, I soon found that I had two distinct client bases. One was that of independent real estate agents who were responsible for the cost of their promotions out of their own pockets. The second group consisted of business owners who knew the value of promotional items and had budgets for ordering them. While I did get a substantial amount of business from the real estate professionals, it was costing me more to market and sell to them than did doing the same to my other client segment. So, my dilemma became – should I let this business go or not. I decided to let it go.

RESOLUTION
After making the decision to let go of the real estate agents' business, I had to figure out a transition that would be in my best interest. I had been working within this industry long enough to came to know many of my competitors by meeting them at various real estate trade shows. I approached on about purchasing my list of agents with whom he was not already doing business and he agreed. As a result, I was able to free up marketing dollars that I could then spend on targeting only businesses and grow that customer base side of Newport Promotions which I have have been doing successfully for the past 25 years.

Relocating at start of recession causes event planner to rebuild

Showcasing experienced entrepreneurs offers an added marketing communications or social media element to help promote their businesses. In addition, it provides a forum through which they can share solutions to unique business challenges that might be the answer to a similar challenge with which yet another entrepreneur is struggling. This openness of information flows with the following story offered by

Melissa Bingham, president
Bingham Marketing & Events
mcbingham@binghammarketingevents.com
www.binghammarketingevents.com
847-716-0673

ABOUT MY BUSINESS
Bingham Marketing & Events offers full-service event and meeting planning for businesses, non-profit organizations and individuals. I also work with many smaller businesses on their marketing needs which includes developing and implementing their marketing plans.

MY UNIQUENESS
Unlike most event planners, I bring the marketing experience to everything that I do. I really look at everything from a marketing prospective. Every event, every promotion, and every social event is all about marketing no matter how obvious or subtle. I always start out with asking what is the client’s goal, what are we trying to achieve?

IDEAL CLIENT PROFILE
My Ideal client is someone who wants to make a mark or establish a presence and enhance their brand. They know they want to make a great impression and difference in their business, but don’t exactly know how.

UNIQUE BUSINESS CHALLENGE
My family relocated here two and a half years ago, so my initial challenge was to re-establish myself in the Chicagoland marketplace. I’ve had my company since 1997 in both Indianapolis and Detroit, and when we moved here in the summer of 2008, I had a grand plan of what I was going to do and how I was going to market the business. Then the market turned. Consequently, the Detroit business that I thought was going to continue was cancelled. At that point, I had to step back and re-evaluate not only how I was going to establish whole new client and vendor bases, but also how I was going to do that on no marketing budget.

EFFECTIVE RESOLUTION
Because the Chicagoland market is so diverse, I made the decision to initially focus in a microcosm and then slowly expand my base outward. I began networking like crazy. I looked at what organizations I wanted to join, what types of events I needed to attend, what kinds of things could I volunteer for to get myself known. I have been fortunate that most of my business over the years has come by way of referrals. I have been working harder than I ever have to gain new clients. As a result, 2010 has developed into a good year. Now, my plan is to move out of this microcosm and widen the scope of my business by attending more diverse events and making more connections.

Editor's question: What case studies of entrepreneurs successfully starting or rebuilding a business during a down economy can you share?