Kate Koziol is President of KSquared Marketing & Public Relations. Kate has years of experience in marketing, and her company specializes in marketing, public relations, advertising and social networking. Kate had this to say about starting her own business:
What inspired you to start your business?
I wanted more challenge and flexibility in my work life. By starting my company I was able to accomplish many goals, such as:
- provide both time with my family and income for my family,
- help other companies grow their businesses by providing public relations and marketing services, and
- Craft a better brand of business promotion that is based on creating client magnetism for our accounts that draws people to their businesses.
What steps do you think are necessary for an entrepreneur who wants to move her business to the next level?
I think these 4Ps are important: people, process, pricing and product.
- People – Ensure that the right people are in the right positions with the right skill sets. You can improve on skill sets, but it is difficult to reshape a negative person into a positive one. Hire the best combination of skill, attitude and aptitude to deliver the best results.
- Process - Document and disseminate process so that everyone is on the same page and the process continues to improve. This allows good work to become repeatable and helps your company be known for its best practice approach.
- Pricing – Align pricing with the market and the competitors. Recognize what you are selling and shape the offering to meet the needs of the customer with an attainable price point. Being the cheapest is not always the best route, but if you a priced dramatically higher, be prepared to demonstrate the value of the higher price.
- Product – Work to uncover the results customers want so you can deliver the right product. If a customer just wants to get to the store, a 1987 Yugo might work, but if they want to make a memorable arrival at a gathering, they might want an elephant and not a car at all. Ask probing questions to find their real needs.
What challenges and opportunities do you see in the present economic environment?
This year companies are rebounding and they need to work smarter, most likely with less staff, so can you deliver some product or service that they previously created in house? Do you have a software offering that will save time? Can you help them take full effect of new tools, such as social media, to help them grow their business?
What advice do you have for women who are just starting out?
Study the landscape. How is your product or offering better or different from the competitors?
Run the financials. Can you develop and deliver your offering at a price that is both saleable and profitable?
Do what you love. You will work harder than you can ever imagine and be asked to stretch and grow more than you thought possible, so you why not enjoy what you are doing? Then do it better than anyone else on the planet!
Outsource. Get rid of ancillary tasks such as accounting or sales if these are not your strong suits.
Will you be doing any hiring in 2010 or can you continue to grow your company without additional hires?
I will be hiring to bring on added infrastructure that will allow us to grow to broaden our base of operations and help us bring added innovation into the public relations, marketing and social media services that we deliver.
KSquared is a Member of the Women Presidents' Organization. The WPO is the global peer advisory organization connecting top women entrepreneurs who own multi-million dollar companies.