August 11, 2011
OPEN Forum Message
Affordably Build Your Brand
FedEx Global Brand Management Director Monica Skipper shares a cost-effective way to build a bigger brand for your small business.
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Harvey Lanot
Back in late 2008, Logan Hale was sweating. As an event producer in Los Angeles, he fell victim to corporate budget cuts and soon found himself out of a job. “I would pick up odd jobs here and there, but it was pretty brutal,” he remembers.
Around the same time, his wife gave birth to their first child, Chloe, and the event ignited Hale’s long dormant hobby.
“I went to UCLA film school, so when Chloe was born we bought a video camera and I starting taking videos of her as she grew,” he says.
Hale spent hours editing and creating polished films, then posting them on YouTube and Facebook. His friends took notice.
“They wanted me to make videos for their families, and pretty soon I had friends of friends asking me for help and offering to pay me for my time,” he says.
In September 2009, Hale launched YourLittleFilm. Today, he edits existing home movies and creates new ones for families, and makes videos for small businesses and entrepreneurs. He employs three freelancers and says he and his wife make more than enough to support their family.
Regan Daniels has a similar story. A 15-year public relations veteran, Daniels scaled down her work schedule in 2006, after her first child was born. She’d always had an interest in photography so while home, she split her time taking photos and working as a PR consultant.
“As my excitement about photography grew, I began taking on less and less PR clients and more photography clients,” says Daniels, a resident of Half Moon Bay, California.
In January 2011, she dove into her hobby full-time, launching Regan Daniels Photographer. “Business is going really well; I work a lot but I consider myself pretty lucky,” she says.
How can you determine if your hobby is a good business idea? Take note of these words of wisdom:
Beta test your idea
It took Hale a while to commit full-time to his video hobby. Without much of a portfolio in the beginning, he spent six months taking free videos for friends and building up his experience.
“While working odd jobs, I would edit on the nights and weekends,” he says. Finally, paying interest in his work became steady enough to validate a full-time commitment.
Daniels also believes in beta testing and starting slow. Launching too early can damage your reputation.
“Do a few jobs for free or at a discount to friends in exchange for honest feedback,” she advises.
Read up
Hale recommends picking up a copy of E-Myth, by Michael E. Gerber.
“The book focuses on hobbyist business owners and talks about what it takes to be a successful entrepreneur; it is a must-read,” says Hale.
Other books by Gerber include: The E-Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It, and E-Myth Mastery: The Seven Essential Disciplines for Building a World Class Company.
Find a mentor
You may be surprised, but successful businesspeople almost always want to spread the love. Daniels recommends joining a local organization/Internet group relative to your industry and contacting the big wigs.
“See if you can take someone out for coffee; a lot of people will be willing to help you if you just ask,” she says.
Find a niche
Ask yourself—is there anyone else doing what I want to do? If so, Hale suggests researching the successes of those businesses and trying to find needs they are not fulfilling.
“For me, there were video companies out there, but none that were tackling the family market; it provided a great opportunity for my company,” he says.
But what if you want to enter an already saturated market? Daniels did just that, and it still worked for her.
“Doing excellent work is the most important thing; that will lead to word of mouth,” she says.
Stay positive
It may be terrifying to start your own business, but try not to get discouraged.
“I’ve heard the saying that, ‘The reason things are hard is to weed out those that give up easily;’ just remember that everyone makes mistakes, so keep trying,” Daniels says.
Check your balance, review recent transactions and pay your bill on the go.
Harvey Lanot 9 months ago
Ever since I picked up my first crayon and started drawing on our wall, I have always knew that I love doing what I do so much and will be doing it for a very long time.. but what I never knew was that I will be able to make money off of it.Not until 4 years ago when I discovered the internet.. thus my website http://www.lanotdesign.com was born.