Welcome to the B&C Media Works Newsletter.  If you are a first-time visitor to the Newsletter, thanks for joining us.  We call it "Media Works" because when used the way they should be, different forms of media can work to make your company more successful. Marketing a product or service effectively requires a continuous frenzy of creativity, and if ever there was a time to get creative it's right now.  The market is a challenging place to be right now.  Let's face it.  The increase in the price of gas is affecting us at every turn, all the way from the gas tank to the refrigerator, from our business to our bathroom.  But in this difficult market there is prosperity for many people and organizations that were either in the right business at the right time or prepared themselves to market effectively in a down economy.  It's no surprise that the sales of motorcycles and scooters are doing quite well right now.  It's also not much of a surprise that many of our local jeweler's have gone down the tubes and blaming their demise on the wicked and evil banks for not lending them more money.  While the economy is good for some, is there something that businesses can do differently to survive the storm? 

In this issue of Media Works we're going to explore a few ideas about thinking differently in order to market your business in a down economy.  We've also got some tips from a local attorney that specializes in insolvency.  You know, they are the ones you don't want to visit but probably should have visited before the bottom started to drop out from under your business. They will give you some insight on what you maybe should and should not do in this topsy-turvy market.  No matter what your product or service it's time to get creative.  There are ways to succeed in this changing economy, and many organizations are adapting to do just that. 

Thanks again for choosing to be a part of Bull & Crowley MediaWorks.  Please enjoy this month's Newsletter and feel free to visit our web site at www.bullandcrowley.com.  If you would like to contact us we can be reached at contactbc@bullandcrowley.com. 

The Economy Stinks…or does it?

Your view of the economy no doubt depends greatly on which political side of the fence you're sitting on right now, where you get your information, and how directly affected you are by what is happening.  Regardless, it's impossible for any rational ideology to say that the mortgage challenge and other economic issues we are facing haven't had a direct impact on the economy.  So what do we need to do to weather the storm?  Read on for some ideas on how you can market your product, idea or service more effectively in what has been a challenging environment for all of us.

When it comes to marketing remember that if you always do what you always did you'll always get what you always got!  In other words if you are in a "same old, same old" scenario, maybe it's time to make some calculated changes in order to get some different and positive results.  The key to change is to change the way you think.  Most companies survive or fail as a direct result of the corporate way of thinking, or failure to think differently.  Some are more savvy thinkers than others, but a different way of thinking is available to everyone.  Here are some areas to ponder a different way of thinking:

1). Think Digital.  It may be time to evaluate your web presence.  Your web site is not only the face of who you are anymore.  It's the guts of who you are as well.  If you are not utilizing and maximizing the power of the Internet, this could very well be the first and most important step in making positive changes to your bottom line.

2). Think Analog.  There is a balance between the "old school" and the new digital era.  If you are a digital enterprise and have entirely neglected to understand and implement some old school thinking, maybe it's time to realize that most of the old people and their ways of doing things aren't dead yet.

3). Think New.  Build a New Hot Dog.  If your hot dogs are the same as everyone else's, come up with something new!  Then utilize different forms of media to create a buzz so everyone knows it's there!

4). Think Confident.  We have found it true that more often than not people do business with people.  If you know you are good at what you do but are not able to communicate your ability with confidence, learn how to do so.  Former coach and NASCAR team owner Joe Gibbs himself says that you win with people.  Call Les Dossey at the Sandler Institute or take a Dale Carnegie Course.  Expand your ability to understand and communicate with people.

5). Think Big!  Visualize yourself as a multi-million dollar company.  Can it happen?   What will it take to get there?  Make a plan and draw up a road map to get to that destination.

6). Think Small!  Thinking big without having the true experience needed, or growing too fast can sink your ship a whole lot faster than the Titanic went down.  You may have all your eggs in one basket.  Losing your main client can mean disaster if you lose their account.  Make sure you are developing and growing other relationships and clients.

7). Think Relationships.  Okay, okay, you're smart, but just maybe you don't know as much as you think.  Make it a point to seek out relationships with people who are smarter than you.  Yeah, that means lowering your too-inflated ego a little bit, but if you can admit some of your shortcomings you may find someone who is willing to go to lunch and help you out.  Aggressively identify and pursue these relationships.

8). Think Others.  It's not about you. 

9). Think Spiritual.  Your business is stagnant or slipping.  It never hurts to say a meaningful prayer.  The universe may just begin to line up behind you.

10). Don't Think.  If you truly are unable to break out of paradigm thinking that has been the way you've been doing things for years, find someone who can do it for you.

11). Think Different.  That's the bottom line.  People who will succeed in this economy are those able to adapt, think of different ways of doing business, and ultimately take advantage of the opportunities that will always rise from the rubble of a beaten up economy.

We sat down with local Bankruptcy (Insolvency) Attorney John Ryan and asked him a few questions to get his perspective on what to do, and maybe not do, in this topsy-turvy market.  John hails from Norfolk, Virginia, and practices in Chesapeake.  John had a lot to say, but we've boiled it down to some executive bullet points to make it a quicker reading experience for those of us who are "legalese" challenged.

What To Do:

• Confirm that your business has value in an ordinary, i.e., neither boom nor bust, environment.  You cannot plan to recover into a boom environment.
• Prepare simple financial statements for the last six months. For example, Excel spreadsheets.   Hand them to a friend you respect who knows little or nothing about your business and discuss them.  Make sure they are complete, hang together and that you understand them and how to explain them. 
• Identify any negative trends (i.e., decreased sales, increased costs of goods or overhead.). 
• If you identify a negative trend, dig deeper and discuss it with others you trust.  Understand if it is something your company can weather and/or address, or not.  If there is any doubt, consult a professional. 
• Know or consider your competition.  How might their financials differ from yours? 
• If you have to dig into personal assets to weather the storm, have a plan and stick to it.  Make sure you know why you are doing so, and what effect you intend to get. 
• Address the trends, like reduced sales, as best as possible, while at the same time remaining aware that every action (e.g., cutting labor costs) has a reaction (e.g., potential further decreased sales, less upside potential, etc.).  Hang on.  
• Set benchmarks to see if you are meeting your plan to address the negative trend. 
• The plan may need to change.   Stay flexible.
• Maintain communications with key business relationships.  Do not fall prey to vapor lock, or the tendency of financially stressed people to pathologically clam up.  This is a sign of depression and anxiety and will not help your business or your life. 
• Trust your judgment as a business person.  Be careful not to let another's (vendor's, customer's) mismanagement undercut your own.
• Trust your judgment as a business person.  Consider the advice you hear, including this article, but don't necessarily follow it.  (Spoken like a true lawyer!)

What Not To Do:

• Cease communicating with trusted others.
• Permit uncertainty or lack of understanding to cause you to act, unless your action is seeking understanding.
• Turn little problems, or problems that can be solved, into big or insoluble problems by breaking the law.

Common Mistakes:

• Poor or no communication, head in sand.
• Putting false hope in others.  Someone may tell you they will buy your business and solve your problems, but that's not really why they are there, is it?

You can contact John Ryan at jryan@mclfirm.com.

One well-known, community minded individual in Hampton Roads is a terrific example of thinking different to capitalize on a floundering economy.  Dave Geisen, CEO of Doormation for five years, not only runs a successful automated door installation company, but thinks out of the box, identifies a need, and builds his business activities around meeting that need.  His latest business idea that is coming to fruition is the creation of a new company called Auto Door Surplus.  The concept hails from Dave's realization that there is a need for an avenue for companies to get rid of their surplus doors and related products. In Dave's own words, "I started ADS due to the fact that as an automatic door distributor, the time will come that a job will go bad, a door ordered wrong size, wrong color, etc.  Having over 150 automatic door companies in the country, I felt as though every company was a potential customer.  Everyone has AT LEAST one door in their warehouse that they need to get rid of."

Autodoorsurplus.com was born, and now businesses and individuals can buy and sell surplus goods online.  This new venture is now working to connect buyers and sellers in a win-win business arrangement, and Dave is beginning to see the fruits of his labor.

Dave is also very active in the community, a member of The Noblemen of Virginia Beach, a member of the Roundtable of Business Leaders, a supporter of Regent University, and is a husband and father of two.  If you want to contact Dave he can be reached at dgiesen@doormation.com.

Community of Sponsors gets behind the Second Annual Wounded Marine 5K and Noblemen Kids Fun Run!!!

Since November 10, 1775 the Marines have been fighting on the front lines for our freedom.  Now, 232 years later, your opportunity has come to be a part of helping those who have come back from the fight. 

The Wounded Marine & Family Assistance Program is a nonprofit 501(c)(3) organization dedicated to support the Marines wounded in the pursuit of our freedom, and their families who often bear tremendous emotional, physical and financial hardship as a result of the injury, recovery or absence of their loved ones.   The cost of freedom is high, and the mission is to ensure that our heroes receive all of the support they need and deserve.

The goal of the organization this year is to have 1000 Runners and walkers in this event.  For information on how you or your company can be involved please visit www.woundedmarine.com.

Time & Place: Saturday, September 13, 2008. The Noblemen Kids Fun Run will start at 9:00 AM followed by the start of the 5K at 9:15AM. Race start & finish are located at the front of CBN/Regent University & the Operation Blessing Headquarters at 977 Centerville Turnpike in Virginia Beach (just off Hwy. 64 on Indian River Road.)

Registrations & Entry Fee: 5K: $20 pre-registration if post- marked by September 8, $25 fee after September 8 & race day. Race day registration & packet pick-up will be from 7:00AM until 9:00AM.  T-Shirt & Gift Bags Are Guaranteed For All Pre-Registered Runners! Race-day gift bags on a first-come, first-served basis. No entry fees will be refunded. Kids Fun Run is free for children 8 & under.

Click Here to Register for the 5k run NOW!