I first met graphic designer Margo Wolcott in September 2009 at a weekly meeting of the Business Network International (BNI) group that she belongs to in northern VA. Though I disappointed her a bit by not joining the group, she and I have collaborated on several projects together, and it has always been a pleasure. She is creative, responsive, versatile and flexible, so it’s no wonder that her company, MW Studio, has been growing at a quick clip for over a year now. She started her company during a recession and has weathered this recession very well. A key to her success? Networking!
Margo Wolcott
I was part of a layoff in mid-2003 – another recession. I started freelancing while I was looking for a full-time job and after a few months realized that I really enjoyed working for myself. So I made a website for my business and printed up some business cards. By the end of the year, I stopped looking for full-time work. My husband realized that I was doing well with finding clients, and told me “If this is what you want to do, then I’m behind you 100%”. That’s all I needed. I officially launched MW Studio in January of 2004.
Being my own boss is very rewarding and empowering. I am able to talk directly to my clients without having to get feedback filtered through an account executive. This allows me to provide better service and design. I can do things the way I want to without having to answer to anyone other than my clients. However, being the only person responsible for the success or failure of this business is intimidating! The key is to use that fear to drive me to do the things that scare me, like public speaking.
[I have grown my business through] networking, word of mouth and referrals from clients, friends and my network group members. I have done very little print advertising, only a couple of ads. I’m starting to get into social media and will be volunteering with some organizations to get my name out there to new markets.
Lessons Learned
There are plenty of things that I could have done better, but in doing them, I learned, so I don’t regret any of it. I do wish that I had sought out more mentors though. Many times, I felt as though I was in this all on my own.
Looking Ahead
MW Studio is entering a major growth mode. I want to grow the business so that it can provide the sole source of income for my family. Then maybe I can convince my husband to come work for me! I see the company expanding into new target markets and taking on larger projects.
Advice for a New Business Owner
Figure out what you want, stay focused and don’t give up!
As told to Monika Jansen via email.
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Tags: graphic design, Marketing, networking, small business success, women in business interview, word of mouth marketing
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