Monica Hall, 320 Multimedia Marketing
320 Multimedia Marketing is a marketing firm that launched in 2002 and is based in Altamonte Springs, Fla.
‘Ah ha’ moment that led to launching the business: In my position at a web development company prior to 320′s inception, the vice president looked at me and said “You’re going to wind up owning this company.” At that moment, it was an utter impossibility, but just a few months later, I did own the company — and without a penny out of pocket. It was nothing short of miraculous. From there, I saw the potential for adding audio and video to clients’ projects. Considering how it all came to pass, I renamed the company 320 Multimedia Marketing in honor of Ephesians 3:20: Now to Him who is able to do exceedingly abundantly beyond all that we ask or even think. I never could have envisioned being able to own the company, but God made it happen. How’s that for an unorthodox business plan?
Ideal customer: Coaches and speakers, non-profits and realtors.
First customer: I had left a CD business card at Adam’s Mark Resort, a well-known oceanfront hotel in Daytona Beach, and they called me to develop CD business cards for their sales team.
Measuring success: Having Adam’s Mark as my very first client was a marvelous success to start my new company with. But I also had the pleasure of signing Sam Snead’s Tavern. They are a nationwide chain of restaurants named after the golf legend, Sam Snead. The president is a stickler for excellence, so being able to enjoy his repeat business (and gracious testimonials) over the years has been a source of immense pride. I measure success most by the fact that I not only earned their multimedia contracts, but the president’s friendship. To me, that’s the ultimate achievement.
Biggest struggle: Funding, personnel, time management. I haven’t overcome everything as yet, but I continue to fine tune my product mix and my operations to minimize the struggles.
Surprise!: That not everyone takes deadlines and responsibilities as seriously as I did. Definitely a shock.
Promoting business: Speaking directly with prospects has almost always resulted in new contracts for me.
What you wish you would have known: 1) That you are crippling yourself professionally without a mentor. They can spare you the vast majority of mistakes made out of ignorance and inexperience. 2) That immersing yourself in the work to the exclusion of relationships (personal and professional) actually reduces your effectiveness.
What keeps you up at night (business wise!)?: When a client has a problem. I can’t turn off my concern at 5 or 6 pm, so I’ll stay up till 2 or 3 in the morning trying to solve whatever issue they’re facing.
Ever tempted to throw in the towel and just get a job?: Actually, I did take a job in 2008 to help my family, but the security of a paycheck wasn’t worth the emotional and physical price of losing my freedom. I spent two years in and out of doctor’s offices from the stress, so I resumed 320 full-time at the end of 2010.
Pricing: Your time and experience are worth something. There will always be someone else willing to cut their prices, but I’ve invested blood, sweat and tears in learning what I have over the years. You have to believe that your clients are truly better off using you than your competition. I know that mine are, so I don’t have a problem charging well for the expertise that will profit their business.
Funding: I not only started without loans, but without funding of any kind. My son and I were the labor, working from our home office, so there were no office or employee expenses. Research organizations such as SCORE, entrepreneurial centers, certification for women and minority-owned businesses and online organizations for valuable resources.
A few good tips: Distractions are rampant, so you need to break through them to get your prospect’s attention. When developing your online presence (website, social media, etc.) remember that images attract more attention than text, and multimedia is the most engaging option of all.Embracing video is no longer an option if you want to compete effectively. People do business with people they’re comfortable with, and we develop that rapport through face-to-face contact. Video enables you to do that without having to be in the same room, city, state or country. With the cost of gas and only 24 hours in a day, video is the ultimate leverage.
The absolute best part of owning my own business is: not needing permission to leave the office.
If I had to start all over again, I would have: sought out a mentor from the beginning.
I never imagined: juggling all of the various responsibilities would be so difficult.
If standing on a rooftop facing crowds of aspiring or struggling small business owners, I would shout: “Work like it all depends on you, and pray like it all depends on God!”
