Tell us your name, company name, and what your company specializes in?
My name is @Michael Marmur, I am the Founder & President of @Pinpoint National Photography. We manage our client’s corporate photography needs in major cities in the United States and Canada. Our photographers live where they work, so no travel costs. With Pinpoint, our clients have one point of contact (which they love!).
What significant step have you taken to modify your business in order to thrive in this new world environment?
The pandemic hit our industry hard – and it hit Pinpoint too. What saved us is the way the company was set up. On a recent ISBO CommuniTea zoom call, I made this comment which resonated. “In February 2020, my wife and I travelled to Vietnam and Thailand for a month – and I did not check email.” It’s not that I don’t care about my business, I care a lot. My team contacted me on issues requiring my input.
But the real point is the groundwork laid when the company started. This applies to anyone starting a new business or running an existing company. My goal was to build a company that could run without me.
From day one:
Documented all business processes.
Built a proprietary software project management system so the first person hired could step into an account management role.
Invested heavily in technology to keep our virtual team connected across two continents.
As a business owner this provides:
A scalable business that can support clients across North America.
Low overhead associated with a remote workforce.
Time to spend on sales and marketing, improve business processes and make sure the right people are in place.
Ability to take time off.
And, an exit plan to sell the business (whenever that will happen!).
How has this modification positively impacted your business and its continued success?
The events industry will return, my guess is in full force in 2022. My company will be ready to service the pent up demand.
What does this mean for others? Many in the events industry are starting new businesses. Your first goal must be to bring in revenue otherwise you don’t have a business.
But along the way you can think about these key points:
Start small, hire someone or use a contractor to do a task you don’t like, could be bookkeeping.
Document your workflow and processes.
Don’t reinvent the wheel with every project you take on.
Use checklists and templates, build electronic systems where possible and use software to automate processes.
It takes way more resources to do this, but in the long run it pays off.