Have you fallen into The Mile Wide Trap?

trap

If your company’s revenue has stalled after a period of rapid growth, you may have fallen into The Mile Wide Trap.

Consider the case of Kim who runs a public relations firm. Kim studied marketing at school and went on to work for a big advertising agency where she spent ten years learning a variety of marketing disciplines, from public relations to advertising to direct marketing and social media.

Then Kim decided to leave her job to start a public relations firm. Given her depth of experience and connections, she quickly landed an international distributor as a client and was asked to handle their regional dealer events. She hired some helpers and her start-up agency quickly began to grow. Kim did a great job with the dealer events, so her client asked her to handle their annual sales conference. Again she delivered with style and creativity.

Impressed by Kim’s innovative approach to the event, her client asked her to handle some of the creative for their next advertising campaign.  Kim had started her company to do PR, not advertising, but her client was a great client so she agreed to help out with the ads.

Then her client asked her to take a look at their website. Kim’s new employees had no experience with web design, but Kim had done some website jobs back at the ad agency. Not wanting to disappoint her client, Kim started to personally handle projects that her employees didn’t have the ability to execute.
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Great Exit Planning Conference in Boston Oct 2-3

Thank you to John Leonetti and the staff of Pinnacle Equity Solutions for the great 2-day conference this past week.  Special thanks to Frank O’Shea, Mindy Jones and Jesse Giordano for their efforts on the Conference Committee organizing a great line up of learning and training experiences on industry topics, transactional information, sales and marketing, and best practices.  Also, thank you to all of the speakers, panelists and sponsors who made the event possible.  It was a great time interacting with current colleagues and meeting new ones.  The exit planning industry continues to emerge.

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