Let me tell you that running a business is one of the most difficult things I have ever done…running business ‘A’ while running business ‘B’ to supplement ‘A’ is even harder. Add to the mix having three kids, one of whom is at home full time with me and I’ve just flashed a picture of a chicken with her head cut off, except this chicken is still alive and keeps going!
One day I couldn’t shake this idea from my head about a t.v. show I had seen- The Profit- with Marcus Lemonis. At the time, I had seen a few episodes, but I had this internal feeling that I should just check Google for news on small business and Marcus Lemonis.
I found that Entreprenur Magazine and the UPS Store were hosting an event in Scottsdale, AZ with Marcus Lemonis for the #smallbizsalute. How cool! This event was so applicable to me and I’ve been ordering Entrepreneur Magazine since high school so I thought this was a perfect opportunity to truly learn! I would also meet other small business owners who had been there, done that, but I was really banking on what I’d take from Lemonis’ talk.
A few days before the event, Entrepreneur Magazine sent out an email about particIpating in a contest to do a Q and A with Lemonis himself. Of course I applied. The instructions were pretty simple- Tell us about your business and why you want to be chosen in two minutes. I pulled out my tripod and gave it my best shot. No magical formula..nope not at all. I shared a VERY short version of why I started StoweyJoey which you can read about in another blog.
So you can guess what happened! I was chosen as one of three business owners to be on stage with Marcus. I was ready. I needed to hear straight from the horse’s mouth what I could do to fix my business, what I should be doing, what I should NOT be doing, and if I should keep going !
I’ll cut straight to the moments on stage-
Marcus basically used the entire audience as a focus group for StoweyJoey asking questions like, “Is there a market for this product”and “What would you pay for it?”. Some people gave their input with regard to the design element and increasing product value. Marcus really said so many things:
Either it’s a hobby or its not
Use value engineering
Get the cost down
Don’t be afraid to order large quantities
That he’d put it in his camping stores
…and that he’d give us 5k with 1 condition … A business plan!