Interview with Stacey Cohen,
President,
Co-Communications Inc.
Established: 1997
Staffing: 9 full-time employees; 3 part-time
Location at 2 offices: Main office in Mt. Kisco, Satellite office in Hartford, CT business (opened 2 years ago)

What inspired you to create your own company?

I started Co-Communications in 1997 in a spare bedroom of my house with no lofty goals - - just to “do it” better. My vision was to bring the missing link - - collaboration - - that I encountered with other marketing communications firms that I had consulted with. All of this crystallized in the mid-90’s when I was hired by a Connecticut marketing firm to develop an annual report for a biotech company that was going public. The agency would not allow me direct client contact which I found extremely frustrating. This was an example of what not to do in marketing communications. Working in a silo does not generate optimal results. While many think that Co is part of my last name, it really stands for working with people. Our firm requires collaboration - - a true partnership with others where ideas are born, exchanged freely, executed & sometimes tossed out. Ultimately, good communications can truly transform companies, bringing them the best possible result and image.

I grew up in an entrepreneurial family. Dinner conversations were often about my father's new business. Both of my parents had successful businesses of their own - - in the woman's apparel industry. I started my first business when I was 14 years old. My friend Jennifer and I were looking for a way to make more money than the $1 babysitting. We started a home waitress service. We placed an ad in the local pennysaver with the ad headline: We Set, Serve & Clean up. Let us help you at your next party. We had no overhead and our only expense was the purchase of a white uniform. The best: we made $6 an hour - - a far cry from our usual hourly dollar rate.

What are some of your services/product offerings?

Public Relations, Social Media, Internet Marketing, Advertising, Direct Mail, Website Development.

Did you start your company as a solopreneur or with a team? At what point in your company’s growth did you decide to hire?

I started my company as a solopreneur. From the early days, however, I recognized the importance of playing to my strengths and bringing in resources to build a strong foundation. Since keeping financial records was not one my strengths, my first hire was a PT bookkeeper to set up Quickbooks. I had built an active client base and steady revenue stream to support my first full-time hire approximately one year after I launched the business. I also brought in Marketing interns from Pace University to support with research and develop media lists.

What key steps/factors helped you grow your company in an effective manner to take you from ‘start-up’ to success?

• Heavy networking; I got actively involved with business organizations at the same time that I launched the business. I joined WAWBO (Westchester Association of Women Business Associations) and got actively engaged at the same time that I launched Co-Communications. I got actively engaged first on the PR committee and then joined the Board.
• Hiring the right staff who were committed to Co-Communications’ vision and growth.
• Creating strategic alliances with graphic designers, website developers, etc.
• Taking risks; one needs to go outside their comfort zone to advance.
• “Can do” attitude. I recall in my early days, when a client asked if I could run an advertising campaign, I said of course. I had never done this before but knew that I could figure it out. I called my friend who was a New York Times ad rep; he taught me a crash course in column and frequency rates.
• Changed mindset from an entrepreneur to business person – shifted from working “in” the business to “on” the business.
• Positioned myself as a PR/Marketing authority through internal publicity efforts (speaking engagements, bylined articles)
• Strong drive, passion, commitment.

What lessons-learned can you offer start-ups to help them grow their company effectively?

Experience has taught me success comes not to those who try to achieve a home run every time at bat, but those who are committed to a program of constant improvement, base hit by base hit. Building a successful business is about building relationships - - whether it be with clients (current and prospective), staff, colleagues, and vendors. I also found that it was beneficial to do some “pro bono” work at the company’s inception. It is critical to build your portfolio and get exposure.

The staff needs to be an integral part of the marketing effort. For instance, The Co-Communications brand is promoted internally and the entire staff is consistently made aware of the important role they play in marketing the company. Designated staff members attend networking/industry events, build the company’s database, and implement a consistent follow-up mechanism. Staff that produce sales are rewarded with a 10% commission on each contract. Since the staff member that “closed the sale” typically becomes the account manager, an incentive is built-in to successfully maintain the account. If the contract is renewed, the account manager receives a monetary bonus based on account size and contract duration. While I maintain overall business development responsibility, this model has proven very successful in generating sales for the company.

Regard your marketing as an investment not an expense. There are a lot of affordable tools at your disposal to build awareness of your company.