One of my business idols and fellow West Loop neighbor, Jason Fried recently wrote “there’s something a lot harder than starting a business: staying in business.”
After 41 months, AE Marketing Group is outgrowing our “Start-up” label. We have been profitable every day, but now I am more focused on going the distance.
When the company began, I didn’t turn to other marketing executives for advice. I turned to people like Jason and to small business owners like Jerry Doran. Jerry owned Popeye’s Chicken stores for nearly 30 years. The advice he gave me about managing margin, people and chaos was far more valuable than any start-up friend who had yet to turn a profit.
Just this week I broke bread (well rice actually) with Rich Lo, an artist and independent designer for three decades. Rich is a man who has seen it all (Frank Lloyd Wright had a studio next door to his in 1910).
Rich’s wisdom and candor was refreshing in an industry that is all to often about instant gratification and personal glory. You have probably walked past one of his paintings in a building lobby around the city or seen his illustrations for some of the biggest brands in the US, but does he care if you know his name? Not at all. He cares about hard work and finding value in relationships. “Stay away from the fakes,” he told me.
Bad business deals? Yep, Rich has been there. Tough customers? You bet. Lean years? Absolutely. But he’s still doing what he finds meaningful every single day.
These are the people we can learn the most from, because anyone can start a business, but can everyone stay in business?
Brian Walker is CEO of AE Marketing Group, one of the industry’s fastest growing start-ups since 2011 with 1,230 consecutive days of profitability