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Sweet marketing music

Tanner Montague came to town from Seattle having never owned his own music venue before. He’s a musician himself, so he has a pretty good sense of good music, but he also wandered into a crowded music scene filled with concert venues large and small.But the owner of Green Room thinks he found a void in the market. It’s lacking, he says, in places serving between 200 and 500 people, a sweet spot he thinks could be a draw for both some national acts not quite big enough yet for arena gigs and local acts looking for a launching pad.“I felt that size would do well in the city to offer more options,” he says. “My goal was to A, bring another option for national acts but then, B, have a great spot for local bands to start.”Right or wrong, something seems to be working, he says. He’s got a full calendar of concerts booked out several months. How did he, as a newcomer to the market in an industry filled with competition, get the attention of the local concertgoer?

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by Andrew Tellijohn
June - July 2011

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Beth Ewen,
Upsize:

bewen@upsizemag.com
upsizemag.com

by Beth Ewen

THIS YEAR’S  two Upsize Growth Challenge winners present a study in contrasts.

One owner, Maia Haag of I See Me! Inc., states a bold revenue goal with a catchy name: “5 over 5,” meaning a $5 million increase in sales in five years. What’s missing, it becomes clear as she presents her plan to the experts we assembled to advise her, is the detailed tactics and the amount of money each will take to get there.

The other owner, Rick Lowenberg of Highland Electric, prefers what he calls “baby steps” in growing a company, with unwavering focus on cash flow and profits and a disdain for revenue projections. What’s missing, our experts suggest, is an inspiring vision that can help him drive company performance.

I couldn’t have planned such a dichotomy: Two business owners with impressive track records and ambitious goals, approaching their work in opposite ways. What’s beautiful is the truth revealed.

There is not one right way to grow a business, beyond some fundamentals. Rather, all owners can achieve success using philosophies they have embraced, employing tactics they have tried and tested. And all owners can learn something from others, which is of course the point of Upsize magazine in general and the Upsize Growth Challenge in particular.

Here are a few lessons to report from this year’s Upsize Growth Challenge participants, detailed in our pages this issue:

• A dedication to high-quality production can set your company apart from competitors.

• Five measurable goals for each staff member each year is known to drive improvement.

• Business plans longer than one year are just an exercise in wishful thinking.

• A well-crafted mission statement can boost company performance.

• A brand should state your value proposition, not describe the tasks you perform.

• An open-book practice with all employees gives staff ownership in the business.

• Attracting private equity makes your company much more complicated.

• Troubled companies always think they need more sales, but they usually need less good sales. (If that’s confusing, read the interview with Rick Lowenberg.)

I don’t recommend you adopt every lesson stated here or in any issue of Upsize. But I do know you can improve your company if you consider the experiences of other owners and advisers, test them against your own, and embrace, abandon or adjust those things that can make a difference.

That’s the real bonus of being an entrepreneur: It is our choice how we want to operate, and we have unlimited opportunity to hone our skills and maximize our talents.

Bridget Manahan of Western Bank, one of the Upsize Growth Challenge experts, put it best: “There are lots of different ways to define growth and to define success, and the luxury of being an owner is you can choose.” May this issue of Upsize guide your choices well.